Phoenix Investment Conference & Silver Summit, Feb 4-5th
(The Silver Investor's Best Friend! Oh yes!)
Silver Stock Report
by Jason Hommel, January 28th, 2010
I hope it's not too late to encourage you to come and see me
at the Phoenix show. This is the biggest and most important
show in the US that I do each year.
Please don't forget to use
promo code "SSR" when you sign up, to get a discount.
http://www.cambridgehouse.ca/index.php/phoenix-resource-investment-conference.html
I
will have all of my speaking engagements on the evening of the first day,
Feb. 4th.
3pm Workshop: Topic: Explaining the Minting &
Coin Dealing Business; and Q and A
4:30pm Keynote
speech: Topic: Refuting the Naysayers -- this should be
fun!
5:30pm Panel: Precious Metals, M/C Peter Grandich, Ted
Butler, Jason Hommel, David Morgan, Thomas Tan, Jay
Taylor.
7pm Dinner: A special Roast for Bill Murphy of
GATA
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The JHMINT will also have a booth, tentatively
booth number 203, where we will have silver and gold available for sale at
our standard prices based off of the spot price, as shown on our price
board, click here:
http://jhmint.com/cgi-bin/ssrbidask
So,
bring cash, or have cash in your account ready to wire
transfer.
As far as I know, there are no restrictions on silver or
gold when flying within the USA. Buying more than 35 pounds of
silver, or 500 oz., might only pose a personal challenge. But
we can ship directly to your address for you, if you prefer.
Unless
the Hotel calls us and has a problem with it, we will be bringing about
$200,000 worth of precious metals for sale at the show. And we
will be armed.
As for silver, we plan to bring 500 oz. of 10 oz.
bars, 500 oz. of Buffaloes, 500 oz. of Morgan replica rounds, 500 oz. of
"FREEDOM" rounds, 2000 oz. in 4 monster boxes of Silver Eagles, and 1000
oz. of 100 oz. bars. We will also be bringing an assortment of
popular gold bullion coins.
It's "first come, first served", please
don't email me to ask me to hold bullion for you. Bullion is sold to
those who bring cash, or wire cash first.
You don't have to wait
for the show, you can buy it now by calling the jhmint at jhmint.com at
(530) 273-8175
Shipping Limitations: 100 silver oz. minimum
order, shipping only within the USA.
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I was encouraged
this week to watch Glen Beck compare Nazism to communism
http://usaguns.net/patriots/becklivefree.html
--as
they are both brutal, deadly, unGodly totalitarian
dictatorships. Fascism is not on the opposite end of the political
spectrum from communism, it is not "far right". On the far right is
freedom. On the far left is totalitarianism. Nazism is on the
left.
Nelson Hultberg at http://afr.org/ should be pleased. I
first heard of this from him, at the Freedom Fest conference in Las
Vegas.
Conferences are important. They help to share
ideas.
It's said that ideas are important because they are the only
thing that has ever changed the world for the
better.
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I was also encouraged this week to read a very
powerful, and very brave essay:
AMERICA'S IMPENDING MASTER
CLASS DICTATORSHIP
Stewart Dougherty
http://www.gold-eagle.com/editorials_08/dougherty012210.html
About
the only quibble I would have is that it could just as easily say
"America's CURRENT Master Class Dictatorship".
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The
Democrats are generally a bit more totalitarian than Republicans, but both
are extremely bad and uninformed, except for the one Republican, Ron Paul,
who wrote a great book called "End The Fed".
The good
news is that the Dems lost a few seats due to them not listening to the
growing outrage of most Americans who oppose socialist and dictatorial
heath care. Ironic that the Dems would support the "no choice" form
of government medicine. I thought Dems were "pro choice" such as on
abortion and gay rights.
The good news is that the growing
Republican tea party movement may help put America back on track to
regain lost freedoms.
The good news is that Obama is beginning to
try to lay blame to the bankers, where it really belongs.
Unfortunately, it seems to be just another ruse or con game. Obama
has recently proposed limiting or preventing banks from trading
for their own account. This would destroy the derivatives
trade. I would actually support that!
But maybe the
banks are now asking for exactly that! See, if there is a government
edict, banning banks from offering those kinds of deals, it gives the
banks a chance to "cash out" all such bets at current, manipulated,
artificial values.
Many on my list know that precious metals
markets are manipulated. How much more are interest rates
manipulated! Most of the derivatives trade consists of interest rate
derivatives. Most of those bets are probably just as lopsided as the
precious metals trade. Most people in bonds, and most people are in
bonds, would want insurance against interest rates rising, which would
tank the values of bonds. Most large banks would take the
opposite side of that trade, while lowering interest rates, to help make a
killing.
There would be no way to unwind such a
lopsided trade that is in the hundreds of trillions, without getting let
out of the trades by a new government edict saying that the banks
must close out all such trades. Oh, poor banks, they
can't trade. It's probably exactly what they need to avoid
another few hundred trillion in bail out money.
Perhaps Obama is
shrewd. Perhaps he is partly being led by God now. In the
State of the Union address, there were two very surprising things that I
had to agree with.
Obama wants to limit student loans to a
10-20 year payback time frame! How interesting. God said in
the Bible that all debts should be forgiven after the 6th year, on the 7th
year, implying that no loan terms should extend beyond 7 years, (except
for land leases, which can be up to 49 years). I wonder where Obama
got the idea?!
Second, Obama appears to be angry at the
banks! Right on! And Obama seems to sense that Republicans who
support banks is their weakness. Again, right on!
The problem
with Republicans in general, is that they typically think that banking is
a legitimate business. It is not. Usury, or charging any
interest rate at all, is criminal, according to the Bible. But
it's not just the Bible that says so, you can also understand this by
studying the basic math alone. Any reasonable mind who knows how to
calculate compound interest on an Excel spreadsheet can figure this
out.
The reason is that at an interest rate of 1/3 of 1% per
year, you can compound 1 oz. of gold, over 6000 years, to become the 5
billion oz. of gold in the entire world! And at 2.25%, you can
compound that oz. of gold into all the atoms of the entire universe, it
would all be gold, and all belong to one person, which is utterly
impossible.
See you don't need to charge interest on loans under a
gold standard, when deflation is the natural birthright and common
blessing of humans living in a state of freedom. Deflation means
that gold naturally should buy more things over time, so a "rate of
return" is naturally built in to every loan, even if you don't get back
any more gold.
But Obama seems to fail to understand that the
nature of the national debt is unpayable in anything real, and thus, the
debt was fraudulent to begin with. The national debt expanded beyond
all reason by the end of WWII, when it soared past $250 billion.
Does not sound like much today, but that was when gold was pegged at
$35/oz., which meant that the debt was equivalent to 7.14 billion ounces
of gold.
The clear problem is that even today, there is only
about 5 billion oz. of gold estimated to have been mined in all of human
history, making that debt unpayable, even as far back as
1945.
Today, with 5 billion oz. of gold in the world, at $1200/oz.,
worth about $6 trillion is not enough to cover the national debt
which stands now at nearly $14.5 trillion.
http://en.wikipedia.org/wiki/United_States_public_debt
Again,
the world's gold cannot pay down US debt, which should never be
higher than only a tiny fraction of the value of the world's
gold.
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Here's a fun video that bursts many people
delusions that we need banks:
How to live without
banks
http://news.bbc.co.uk/2/hi/programmes/the_daily_politics/8483213.stm
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Here's more
fun to brighten your day. A rap song:
"Fear the Boom and
Bust" a Hayek vs. Keynes Rap Anthem
http://www.youtube.com/watch?v=d0nERTFo-Sk
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