Archive for June, 2007
Inflation Is Theft — Hans F. Sennholz
“Few are aware of what the Federal Reserve System, acting on behalf of the U.S. Government, is doing to their money. It is inflating and depreciating the dollar at various rates – at double-digit rates during the 1970s and early 80s and at single-digit rates ever since. The present dollar is worth no more than 10 cents of the 1970 dollar and 50 cents of the 1980 dollar.”
“The biggest debtor also is the biggest inflation profiteer. With some eight trillion dollars in debt, the Federal Government is by far the biggest winner. In fact, it gains not only from debt depreciation, which at just three percent amounts to some $240 billion every year, but also from Federal Reserve money and credit creation that enables the U.S. Treasury to suffer annual budget deficits of some $500 billion a year.”
Inflation Is Theft — Hans F. Sennholz
Money Is Flooding the World Markets
Dr. Hans F. Sennholz was professor and chairman of the department of economics at Grove City Colleg, wrote an essay about the world currencies flooding the world markets. Below are a few excerpts from his essay.
From, Money is Flooding the World Markets
“Rates that are lower than market rates promptly increase the demand for credit. With all recent rates below the market rate it cannot be surprising that total American debt has surged by several trillion dollars. Last year, household debt alone rose by more than one trillion dollars. The federal government itself has been adding more than two billion every day.”
“ Such credit expansion, unsupported by genuine savings and capital formation, generates illusionary gains making people believe that they are more prosperous than they actually are.”
“This economist is bracing for a gradual increase of political controls over economic life, leading to countless maladjustments, distortions, and stagnations. But this trend of policy and its harmful effects is contravened by the world-wide movement toward globalization.”
Word Business Review - Interview
Interview with the CEO of Bullion Vault,
Core drilling program commences at the Silver Hope Project, central British Columbia
“A minimum of 1,500 meter core drilling program at the Silver Hope Property located in central British Columbia is planned to commence,” announced the Board of Directors for Finlay Minerals, Ltd.
“The initial Phase 1 core drilling program has been planned to test the
deep silver-copper-gold breccia related mineralization, both for extent and continuity in the Hope zone, and for the presence of silver-copper-gold breccia related mineralization deep below the Gaul zone,” said Robert Brown, President of Finlay Minerals.
President Brown said, “This drill program will consist of four (4) core holes each 400-450 meters long, three designed to test the Hope zone, and one at the Gaul zone. Drilling is contracted to Driftwood Diamond Drilling of Smithers, B.C.”
“The Silver Hope Property is contiguous with the southern boundary of the
past producing Equity Silver Mines Property (33,800,000 tonnes @ 0.4% copper, 64.7 g/t silver, and 0.46 g/t gold from open pit and underground mining) and covers prospective stratigraphy for discovery of strata-bound copper-silver-gold mineralization,” according to Brown.
“Prior workers conducted several drilling programs along a 2 kilometer strike length of favourable geology that partially outlined three near-surface bulk tonnage copper-silver zones with deeper higher grade copper-silver zones. The zones, named Hope, Superstition and Gaul by prior workers, occur along favourable structural horizons in pyroclastic volcanic rock notable by fracturing and discrete breccias that have been tested by approximately 40 holes.”
“Warner Gruenwald, P.Geo., and V.P. Exploration for the Company, is the
Qualified Person, as defined by National Instrument 43-101 and will conduct
the exploration program on the Silver Hope project.”
“The Silver Hope property is part of a strategic move to expand the Company’s presence in B.C., and to complement the Company’s Toodoggone projects.”
Along with the commencement, Finlay management has approved the issuance of 1,200,000 options to management, directors, and consultants. The options are for a period of 5 years and set at $0.20.
Technically Precious — Technical Review
“With 93% of the “quality” stocks on the rise and only 40% of the gambling variety on the rise this was a “quality” week in the precious metals universe. Will it last?”
A technical review of precious metals by Merv Burak, including the long term movement, and intermediate term movement.
Commentary by Dudley P. Baker
“Commodities are for Crafty not Crazy Investors” — “First, contrary to all the real experts, I can’t predict the future of the economy and financial markets with any degree of certainty. I especially can’t time anything that would make sense on which to base trading decisions. Equally I can’t compete with the smart guys, the institutions with all their specialized people, formulas, software and money to do everything top drawer.
“Nor can I beat them to the trigger or the exits. So attempts to time the market, alter my portfolio balance between sectors, investment vehicles and geographic regions is pretty much hopeless for me. I therefore do not trade, rather I attempt to invest.”
By Dudley P. Baker
Aquiline Resources Inc. Releases Second Set of High Grade Silver Results
“Barite Hill, Navidad — Report on the results of 12 new diamond drill holes at its Navidad Project in Chubut Province, Argentina. These include the results for holes to further extend the high-grade zone of mineralization to the southeast of Barite Hill.”
“Barite Hill is located approximately one kilometre from Galena Hill, which previously marked the southern extent of the resource at Navidad.”
Silver Falls as Interest-Rate Outlook Boosts Dollar
“Gold and silver fell in New York on speculation a pickup in the U.S. economy may keep the Federal Reserve from cutting interest rates, boosting the dollar and reducing the metals’ appeal as alternative investments.”
Silver generally moves in an opposite direction of the dollar.
100 oz. Bars
Older 100 oz. bars may have some of the ends beveled. It may look as if the bars were machined after they were formed. While others are nearly perfect having crisp edges all around.
It was common to machine poured bars to bring them down to weight. Many will have a grain that is pretty hard to fake. Usually, the 10 oz bars carry a larger premium to 100 oz bars.
