HOME | THE PROSPECTOR SITE & YOU | BLOG | REGISTRATION | CONTACT

Posts Tagged ‘bailouts’

GOLD MINING ON WALL STREET

GOLD & SILVER, GOLD AND MONEY, SURVIVAL & GOLD/SILVER   No comments yet

REUTERS recently ran a fascinating article on the only modern gold mine east of the Mississippi River cranking back up.  Historic Haile Gold Mine is hoping to mine 150,000 ounces of gold over 5 years with an investment over 650 million.  I have found Reuters to be somewhat accurate on their news but they missed this one by a mile.  Haile isn’t close to the only or biggest modern gold mine east of the Mississippi River.  The reporter must have forgotten the biggest gold mine ever to stake a claim, Wall Street.


The owners of this gold mine, Romarco, should seriously reconsider the risk and investment at a time when Wall Street is paved with golden bailouts. After millions in environmental impact studies, millions in restoration, and millions more in wetland improvements my math shows Romarco could earn around $600 million off this gold mine in South Carolina.  They could be wrong and not find as much gold ending up losing 100′s of millions too.  Romarco Mineral is taking more risk than needed since Wall Street mines are producing much more profit with no risk at all.

Wall Street protesters are mad as hell but can’t consistently tell us why.  Their movement has spread like wildfire but ask five why they’re there and expect five different answers.  More taxes on the rich, maybe end the Fed, how about free health care and eduction?  The gold, and anger, is at Wall Street because a shrinking underclass is catching on that the only giveaways are to those large enough providing power to leaders.  The protests are 100% related to the growing gap between rich and poor while the rich line pockets with gold.  America’s Middle Class sits around their televisions wondering why new age hippies are so upset all while their net worth drops like a rock.

We have written about the growing conflict here at www.theprospectorsite many times. Conflicts in currencies, conflicts in trade, conflicts among those bailed out and the one’s left out.  The injustice is on several levels as true capitalism rides backseat to governments desperately trying to save their bacon.  It would be bad enough if governments handed out tax payer money to the wealthy only but actually the money is borrowed making the situation much worse.  Eventually the bailout money will cease but only after your dollar’s buying power drops, businesses shuttered, and the Middle Class begins to resemble the poor.

GOLDEN ANSWER:

Most folks around the world have no idea what can be done about our economic situation. They watch Mr. Geithner blame Europe and Mr. Bernanke blame China all while wanting to believe the system isn’t corrupt when down deep they know otherwise.  The fact remains you can’t change the Wall Street handouts no more than I can.  You can’t stop the Fed or central banks from throwing trillions at a problem only to watch bubbles float away at the end. But we can outsmart the academics at their own game all while finding prosperity (and integrity).  You must realize gold is penicillin to the world’s financial infection.

The value of gold will grow as currencies around the world print themselves into worthlessness. Even if you don’t understand gold you must see the choice for governments is to protect their own and print more money!! Demand for gold/silver will grow motivated by distrust, desperation, prudence, and fear.  Inflation, deflation, and stagflation have never won over gold and this time will be no different.  Please take a hard look at precious metal until honor, dignity, and restraint find their way back into leadership.


Tags: , , , , ,


BACK STORY ON GOLD, WALL STREET, & MAIN STREET

BUYING GOLD/SILVER, GOLD AND MONEY, STOCKS AND GOLD/SILVER   No comments yet

The article’s title read “Two years after end of Great Recession, how are we doing?”  You may have read this article and if you did I hope you found it interesting.  However, this site deals with facts and since I’m not a staff writer for whatever publication ran it I will post the rebuttal on my own site.  Let me bring those who didn’t read it up to speed.  The article writer compared the recovery viewpoint from several different perspectives.  One perspective is a person that might have a negative view if recently laid off.  Another perspective is from a person that can’t sell a home.  But the positive perspective is one flush with earnings derived from the stock market since the market has done fantastic since the 08 collapse.  Today we look at the back story of gold, Wall Street, and Main Street.


MAIN STREET:

I love Main Streets.  It doesn’t matter what state or town I love driving off the interstate and slowing moving down Main Street USA.  Most towns are “built” around a main street, maybe this is why it’s called Main Street.  Generational businesses owners sweep sidewalks cluttered with wind-blown leaves.  The flower shop hangs a sign in the window showing the daily bargains for the town to see.  Good people who have no delusions of getting rich but simply enjoy the independence of proprietorship, fellowship, and opportunity.  Most days I will drive past a box store to spend slightly more at my local hardware store, I bet you are the same way.

The article mentioned above speaks clearly how Main Street has suffered since the Great Recession of 08.  You can almost read between the lines how Main Street may not know but prosperity is less than a block or two away, at least according to the writer.  The fact is prosperity ran the last stop light leaving town sometime ago, it’s in no hurry to come back anytime soon.  This leads us to ask why Wall Street hasn’t felt such pain.  After all, wasn’t it their risky business practices that contributed to the crash of 08?

WALL STREET:

You must know where this is going but it will be said anyway.  Wall Street’s relationship with government is sketchy at best and time will show the level of corruption, manipulation, and theft.   Again, the above article boasts how most smart enough to invest back (post 2008) into stocks have prospered and surely feel the worst is behind us.  The name of the Wall Street game is profit and this is exactly what is happening right, wrong.  Wall Street would be in the same despair as Main Street, profitability speaking, if not for trillions of your taxpayer dollars flowing into too big to fail companies.  The reasoning, it is for the good and protection of all but my question is if it is for us all than why does the bailout money go to just a few?  A few that pay themselves plenty I might add.  Wall Street should have the same wind-blown tumble weeds Main Street is seeing, and most likely soon will.

GOLD & SILVER:

If I had to choose between a healthy Main Street and profits of gold it would be Main Street hands down.  But the fact is I can’t control this situation anymore than you can so my choice is to protect my family the best possible.  Gold and silver are strange creatures.  They have been the financial grounding rod since Biblical days, Jesus was betrayed for a small amount of silver, and to this day still have a practical place in economies.  The oddity is precious metals have great value today without stimulus, bailouts, or tax credits.  Most in governments would like to see it go away but the stuff keeps hanging around.  The dislike, gold is the economic full length mirror most just don’t want to see reflect accurately back.  Gold, and silver, point out our weakness, greed, mistrust, and fear.  If you are one of the many that doubt gold please take a few minutes to research a long-term comparison of gold and fiat currency.

You may be watching for a good entry into precious metals and this I understand.  The truth is 5% or 10% over or under matters little or less in the overall picture of gold/silver potential.  The important thing is to personally own some, yes that simple.

NEWS WORTHY?:

WASHINGTON POST: Lack of retirement savings makes entitlements sacrosanct

“Most households have no retirement plan other than Social Security, and the average American family has not saved enough to maintain its standard of living in retirement,” said David Wyss, chief economist at Standard & Poor’s Corp.

The average Social Security check, by contrast, is about $1,200 a month.  Very concerning but you can read it here.

MARKET WATCH:

THE ECONOMIC COLLAPSE:  The Unbelievably Rampant Corruption On Wall Street

*The really sad thing is that fraud is very, very lucrative. Executives at many of the big banks that received large amounts of money during the Wall Street bailouts are being lavished with record bonuses as millions of other average Americans continue to suffer economically. Even the CEOs of bailed-out regional banks are getting big raises. It must be really nice to be them.

The truth is that Wall Street is full of rip-off artists and fraudsters who don’t even try to hide their greed anymore.  Read it here.

NEWS WORTHY:

REUTERS/MONEY CALL-Durable gold’s hold for long-term investors

“The reasons for buying gold haven’t diminished,” said Jeff Clark, the Sacramento, California-based senior precious metals analyst for Casey Research. “Unless we change course of how we handle the debt and deficits, there is a good reason to buy gold.”

A deepening budget crisis in Washington has gold sailing high again in some buyers’ dreams. The reason? A budget crisis could trim the currency further. Gold’s strength comes largely from the erosion of the dollar, which has lost 37 percent of its value since its last peak in mid-2001.  Great read here.

FAIR PRICES IN GOLD (9:00 am MDT)

  • ONE OUNCE SILVER BULLION:              $40.77

  • ONE OUNCE SILVER ROUND:                  $38.12

  • ONE OUNCE GOLD BULLION:                  $1615

  • ONE OUNCE GOLD BAR:                            $1576

Tags: , , , , , ,













Home | The Prospector Blog | The Prospector Site & You | Registration | Contact


Copyright 2011 The Prospector Site | All Rights Reserved | Terms of Use | Privacy Policy


Design & Development by Vantage Technology Development

Powered by WordPress Entries RSS Comments RSS