Interesting information that I think everyone should at the very least consider to read or watch, not to take completely as fact but to draw your own personal conclusion, learn how to save on purchases, buying quality, investment ideas, watch interesting videos that deal with economy , technology and news
UWRL ( US Wireless) .0007 Today the C/E has been removed , This C/E removal has been the most anticipated news on any pink sheet stock , the stock has been consolidated at price .0006-.0009 for quite some time , I see the market makers letting this run in the weeks to come , pretty safe buying at these prices , this stock traded well into .0020's this thing will run with mergers looming
Mina Mar email tonight: We are working over the holidays and we said unless something massive and of significance happened we would not issue a Friday Tips till Jan 7
UWRL ,VCTY and ADHC warrant this holiday interuption.
We are pleased to report that:
UWRL will be moved to the Pink Sheets Current Information tier before the next market open. The Caveat Emptor Flag will be removed.
We expect this by January 3rd trading day!!
DON'T MISS OUT ON THESE GREAT PLAYS IN
USOG (United States Oil Co.) .0030 this stock easily traded in 006 range and the charts shows just that an upward trend , .0030 is a great opportunity for 100% short term , with oil prices rising and also inflation world wide we may see an increase in oil prices , this stock is a great opportunity for profits
USOG Chart
Watching for bottom
DGRI
SSOL
ALTO
LONG TERM INVESTMENT IDEA : Actual SILVER 30.60 an oz Silver is already up over 64% since we suggested on August 19, 2010 as one of the greatest investment opportunities in human history. FutureMoneyTrends.com believes just as gold went from $35 to $850 per ounce in a decade(1969-1980) and palladium went from $200 to nearly $1,000 in just 3 years(1997-2000), we believe over the next decade silver investors will be rewarded greatly!
Dec. 28 (Bloomberg) -- Robert Shiller, an economics professor at Yale University and co-creator of the S&P/Case-Shiller index of property values, talks about the decline in home prices in October. The index fell 0.8 percent from October 2009, the biggest year-over-year decline since December 2009. Shiller speaks with Peter Cook on Bloomberg Television's "Fast Forward." (Source: Bloomberg)
Dec. 28 (Bloomberg) -- Home prices dropped more than forecast in October, a sign housing will remain a weak link as the U.S. recovery accelerates into the new year. The S&P/Case-Shiller index of property values fell 0.8 percent from October 2009, the biggest year-over-year decline since December 2009, the group said today in New York. Bloomberg's Jon Erlichman reports. (Source: Bloomberg)
Dec. 28 (Bloomberg) -- Hugh Johnson, chairman of Hugh Johnson Advisors LLC, talks about the outlook for the U.S. housing market after the S&P/Case-Shiller index showed prices dropped more than forecast in October. The S&P/Case-Shiller index of property values fell 0.8 percent from October 2009, the biggest year-over-year decline since December 2009, the group said today in New York. Johnson speaks with Carol Massar on Bloomberg Television's "In the Loop." (Source: Bloomberg)
Dec. 27 (Bloomberg) -- Stan Humphries, chief economist of Zillow Inc., and Michael Feder, chief executive officer of Radar Logic Inc., talk about the outlook for the U.S. housing market. They speak with Carol Massar and Su Keenan on Bloomberg Television's "Street Smart." (Source: Bloomberg)
Home prices dropped more than forecast in October, a sign housing will remain a weak link as the U.S. recovery accelerates into the new year.
The S&P/Case-Shiller index of property values fell 0.8 percent from October 2009, the biggest year-over-year decline since December 2009, the group said today in New York. The decrease exceeded the 0.2 percent drop projected by the median forecast of economists surveyed by Bloomberg News.
A wave of foreclosures waiting to reach the market means home prices will remain under pressure in 2011, representing a risk to household finances. Federal Reserve policy makers this month said “depressed” housing and high unemployment remained constraints on consumer spending, reasons why they reiterated a plan to expand record monetary stimulus.
“We’ll remain in negative territory for several more months,” said Dean Maki, chief U.S. economist at Barclays Capital Inc. in New York, who forecast a year-on-year drop of 1.3 percent. “The housing market does remain weak and none of the recent data suggest a substantial pickup.”
After retreating briefly, stock-index futures remained higher after the report as a jump in holiday sales boosted the outlook for consumer spending. The contract on the Standard & Poor’s 500 Index maturing in March rose 0.2 percent to 1,255.5 at 9:23 a.m. in New York. The yield on the benchmark 10-year note rose to 3.36 percent from 3.33 percent late yesterday.
Survey Results
The median forecast was based on projections of 17 economists surveyed. Estimates ranged from an increase of 1.4 percent to a decline of 1.3 percent. Year-over-year records began in 2001. Prices rose 0.4 percent in the year ended September.
The gauge fell 1 percent in October from the prior month after adjusting for seasonal variations, matching September’s drop which was larger than previously estimated. Unadjusted prices decreased 1.3 percent from the prior month.
Eighteen of 20 cities showed a decrease in prices in October, led by a 2.1 percent drop in Atlanta, and decreases of 1.8 percent in Chicago and Minneapolis. Denver and Washington were the only two that posted gains.
Six markets, including Atlanta, Charlotte, Miami, Seattle, Tampa and Portland, Oregon, reached their lowest levels in October since prices started to retreat.
“The double-dip is almost here,” said David Blitzer, chairman of the index committee at S&P. Sales aren’t “giving any sense of optimism.”
Since 2006
The 20-city index was down 30 percent in October from its July 2006 peak.
The year-over-year gauge provides better indications of trends in prices, the group has said. The panel includes Karl Case and Robert Shiller, the economists who created the index.
The Case-Shiller gauge is based on a three-month average, which means the October data was influenced by transactions in September and August.
The drop in prices represents a setback for housing after values recovered earlier this year, thanks to an $8,000 homebuyers’ tax credit that lifted purchases.
Reports earlier this month showed the housing market is stuck near recession levels even as the broader economy is recovering. Housing permits fell in November to the third-lowest level on record, while starts rose for the first time in three months, the Commerce Department reported Dec. 16.
Sales of new and existing homes last month rose less than projected by the median forecast of economists surveyed by Bloomberg, reports from the Commerce Department and the National Association of Realtors showed last week.
Price Outlook
Atlanta-based Beazer Homes USA Inc, which builds and sells single-family starter homes in the southern part of the country, projects prices will not increase.
“We expect new-home selling prices to be somewhere between flat and down 3 percent in 2011,” Beazer’s Chief Executive Officer Ian McCarthy said on a conference call last month. “While there are clearly risks of further home-price declines, we believe that new homes are well positioned relative to non- distressed existing homes.”
Today’s report may be a reminder why Fed policy makers, who met Dec. 14 for the final time this year, say housing is lagging while the economy rebounds. They cited declines in home values as one of the constraints on consumer spending.
“The housing sector continues to be depressed,” Fed officials said in a statement after the gathering, at which they reiterated a plan to expand record monetary stimulus and said economic growth is “insufficient to bring down unemployment.”
Even so, economists in the past two weeks have boosted projections for fourth-quarter growth, reflecting a pickup in consumer spending and passage of an $858 billion bill extending all Bush-era tax cuts for two years. The legislation also continues expanded unemployment insurance benefits through 2011 and cuts payrolls taxes by 2 percentage points next year.
The following table shows the historical price change
according to the S&P/Case-Shiller home price indices. Cities are
ranked by largest monthly gain using non seasonally adjusted
data.
============================================================
1-months 3-months 1-year 2-years 3-years
earlier earlier earlier earlier earlier
============================================================
US Composite-20 -1.32% -2.39% -0.80% -8.08% -24.70%
------------------------------------------------------------
Washington DC -0.20% -0.28% 3.65% 1.00% -17.97%
Las Vegas -0.21% 0.06% -3.57% -29.26% -51.61%
Denver -0.57% -1.65% -1.79% -1.90% -6.98%
Los Angeles -0.75% -1.26% 3.34% -3.21% -30.24%
Tampa -0.90% -2.19% -3.61% -18.27% -34.48%
Miami -1.11% -2.60% -3.39% -16.95% -41.06%
Phoenix -1.11% -3.93% -4.28% -21.61% -47.21%
Dallas -1.13% -3.83% -3.13% -3.68% -6.66%
Charlotte -1.14% -2.54% -4.19% -10.90% -14.87%
============================================================
1-months 3-months 1-year 2-years 3-years
earlier earlier earlier earlier earlier
============================================================
Boston -1.23% -2.82% -0.23% -3.03% -8.85%
Seattle -1.34% -2.66% -4.11% -16.03% -24.61%
Portland -1.48% -4.16% -5.15% -14.59% -23.20%
San Diego -1.50% -3.05% 2.97% 0.55% -26.28%
Cleveland -1.52% -4.76% -2.64% -6.03% -11.83%
New York -1.61% -1.99% -1.67% -9.58% -16.56%
San Francisco -1.91% -3.07% 2.23% -0.43% -31.28%
Minneapolis -1.91% -4.35% -2.80% -10.79% -25.18%
Chicago -1.99% -3.08% -6.48% -15.95% -25.04%
Detroit -2.45% -3.25% -5.52% -20.02% -36.33%
Atlanta -2.90% -6.11% -6.19% -13.77% -22.83%
============================================================
Gold hit a high of $1414 and closed at $1412 , with the weak dollar and a global economic prices precious metals seems to be investors safe haven. The light trading market during the holidays may allow investors to get in some gold stocks for cheap prices.
PRMO (Prom Resources) .0002 This stock released news via market wire late in trading day:
Press Release Source: Prom Resources On Wednesday December 29, 2010, 3:50 pm EST
ORLANDO, FL--(Marketwire - 12/29/10) - Prom Resources Inc. (the Company) (Pinksheets:PRMO - News) is pleased to announce negotiating interest in a gold refinery.
The company is currently negotiating, a minority interest in a gold and silver refinery. This move will assist the company in consolidating the gold bearing material it has on hand into a purer form when exported and optimize returns. The company expects to increase production and inventory in fiscal year 2011 and while continuing our program of selling gold material that was held back on our second quarter for tax reasons.
This stock saw massive buying and 4 market makers were left 10 minutes into closing and ended up with just 1 market maker left at .0002 . This stock has reached .0004 on several occasions, and this may be the time it breaks out, the company has since released 2 press releases in the last month, with gold reaching new highs and an uncertainty and loss of confidence in the dollar this may be the safest lotto on the market.
WTCT (Watch It Technologies Inc) .0008 this stock trades well posting higher lows , today reached .0009 and then closed at .0008, the share structure remains the same as per press release in late november:
WatchIt Technologies Board of Directors Addresses Trading Volume
The Board of Directors of WatchIt Technologies (PINKSHEETS: WTCT) announced in a press release on November 22, 2010 that it had reduced the issued and outstanding shares of their common stock by 550 million shares. The result of the action reduced the company's common shares from 1,140,093.993 to 590,093,000 and created an unexpectedly high volume of trading over the last two days. According to the company, there have been no new shares issued, no notes converted nor any conversions of preferred stock. The company stands by its decision to reduce the number of shares in an effort to increase shareholder value. Of the approximately 590,000,000 shares that are now in the issued and outstanding category, approximately 350,000,000 are restricted. The public float remains at approximately 250,000,000 shares.
The company reports that the unusually high volume of trading is being examined by management in an effort to insure that all precautions are being taken to protect its shareholder base. If any anomalies are found, the proper agencies will be notified.
According to the company, the unusually high volume in trading was met with equal resistance to the downward pressure against the price per share. The price per share only decreased slightly in high trading volume, indicating to the company that their previous actions were positive. Management is pleased that the investor community has strongly supported the company as reflected by the volume of trading. The company believes that once the volume returns to more normal activity, the price per share will begin to more accurately reflect the current and future value. The overall goal of the company is to increase shareholder value and this action is just one of the steps they are taking to accomplish that task.
In an unrelated matter, the company has also announced that it can be followed on Twitter (http://twitter.com, http://twitter.com/watchittech). The company invites its shareholders, both current and potential to sign up for WatchIt Technologies' Twitter account and learn about current happenings and pertinent information on the company and other "Green Technologies."
WatchIt Technologies is actively seeking companies that have the attributes of being highly innovative and "first in" within their respective sector. Most companies partnering with WatchIt Technologies will have already completed their initial R&D and will need management consultation and financial assistance to move to the next level of success and profitability.
This stock can easily run with some added attention , with holiday season , getting in at cheap prices can prove to be very profitable
UWRL (U S Wireless) .0007 this stock saw a surge in buys late in trading day , I still believe this stock has a major run in it , today re-submitted filings to pink sheets, .0006 and .0007 offer a great opportunity once CE gets removed , this will take patience but stock has shown to trade well once it gets in the .0020's
Gold continues rise on light holiday trading as other metals climb in its wake
The Associated Press, On Wednesday December 29, 2010, 4:50 pm EST
NEW YORK (AP) -- Gold prices continued their surge Wednesday amid light holiday trading, as investors seemed convinced that precious metals will make a good hedge against inflation during 2011.
Gold for February delivery rose $7.90 to settle at $1,413.4560 an ounce. Silver continued its long-standing pattern of following in gold's wake, with contracts for March delivery rising 38.1 cents to $30.704 an ounce.
A sagging dollar and concerns about global inflation seem to be propping gold above its year-end high of $1,400 an ounce, said Edward Meir, senior commodities analyst at MF Global in New York.
"I think the dollar is pretty weak today, and that's giving it a bit of a lift," Meir said. But he cautioned not to read too much into Wednesday's numbers because trading has been light as many investors are off for the holidays.
Industrial metals continued their upward climb for the week, except for copper which fell slightly.
January palladium gained $6.20 to settle at $793.40 an ounce and December platinum gained $2.50 to close at $1,754.20 an ounce.
Copper for March delivery fell 16.5 cents to settle at $4.3115 a pound.
Energy prices fell while the East Coast continued to dig itself out of Monday's blizzard and a cold snap swept across other parts of the country.
Heating oil, natural gas and other energy commodities usually get more expensive as the weather chills. But analysts said most traders already have locked in their energy contracts for the year, and those still buying are looking ahead to 2011.
With the U.S. sitting on higher than average heating oil and natural gas supplies, temperatures would need to drop much lower for a longer period to raise prices, analyst Tom Kloza with Oil Price Information Service said.
Benchmark oil for February delivery fell 37 cents to settle at $91.12 a barrel on the New York Mercantile Exchange.
In other Nymex trading in January contracts, heating oil fell 0.28 cents to settle at $2.5215 a gallon, gasoline fell 1.52 cents to $2.3904 a gallon. Natural gas for February delivery fell 0.10 cents to $4.287 per 1,000 cubic feet.
This year is coming to a close but lets say we start off the new year with a make some money resolution, lets look at some stocks that look to be at good price or at bottom and updating its investors with some news or in the near future.
WTCT (Watch it Technologies) .0008 this stock looks to be bottomed and today hit a high of day of .0010 before re-tracing back to .0008. The stock for a triple zero stock has a nice share structure:
Estimated Market Cap$885,141 as of Nov 24, 2010
Outstanding Shares590,093,000 as of Nov 24, 2010
Authorized Shares1,500,000,000 as of Aug 9, 2010
Public float250,000,000
WTCT Chart looks like a nice reversal .0008
the stock has released news Dec 28 2010
ARDEN, NC--(Marketwire - 12/28/10) - WatchIt Technologies Inc. (Pinksheets:WTCT - News) WatchIt Technologies' Air Pure Division announced today an explanation of how the patent pending fuel reformer functions. The device, in the simplest explanation, is mounted in the fuel line between the gas tank and the fuel rails (where the fuel enters the engine). Fuel flows through the device and is "reformed" using patented technology. This reforming process essentially makes the fuel able to burn more completely. Reformed fuel is then introduced into the engine as usual. This "higher efficiency fuel" directly yields more miles per gallon (MPG), while exhaust emissions are reduced correspondingly. The device also reduces wear and tear on the engine due to a more complete burn of the fuel. Accomplishing this produces less contaminants in the engine's lubrication which can coat engine parts with harmful substances. Less adulterants in an engine's lubrication results in longer engine life and potentially fewer oil changes. The current fuel reformer is still performing to standard despite over 80,000 miles of use.
According to Robert Ryon, President and CEO of Air Pure Systems, "The Fuel Reformer is not only applicable to the auto industry, but has tremendous value for agriculture, over the road trucking, maritime, power generation, home heating, and possibly the aircraft industry. As can be envisioned, based on our most recent test results, the possibilities are almost limitless. We anticipate a detailed process of research and development, testing for safety, and then production, but our Fuel Reformer has so many possibilities and revenue-producing business models, that we remain ecstatic about our future."
Dr. Max L. Bennett, President and CEO of WatchIt Technologies, remarked, "If you look at the Macro impact of a device like the Fuel Reformer, it could have a tremendous effect on global economic issues. In the US, it could reduce the amount of foreign oil that is imported as well as reduce the out of pocket expense for purchasing gasoline and diesel fuel. The ripple effect could translate into a reduction in the cost of transporting goods and also reducing the cost of producing our food supply. Carrying it further, this reduction in the import of foreign oil could also have a definitive impact on Homeland Security. The last broad area of impact is the positive effect on the environment. With a reduction in tail pipe emissions, the 'fuel reformer' could potentially lead the way in helping to clean up the environment. As can be seen, it is truly an exciting technology."
BFHJ ( Beneficial Holdings) .0016 there is volume hitting this stock again , when volume hits this stock it trades quite easily to .0030 range , I think it is time time to add BFHJ to your watch list again this stock can go with some added attention and volume, today had volume of 16 million with a slow market , i think when the market picks up this will be trading very well, last known share structure:
Free trading (float) shares: 417,447,846
Restricted (control) shares: 459,715,349
Total shares outstanding: 903,000,000
Authorized number of shares: 903,000,000
BFHJ chart
Press Release Source: Beneficial Holdings, Inc. On Monday December 20, 2010, 11:36 am EST
MANAGUA, NICARAGUA--(Marketwire - 12/20/10) - Beneficial Holdings, Inc. (Pinksheets:BFHJ - News), which manages the bet.cr by Beneficial casino and three gaming parlors in Nicaragua through its subsidiaries today announced that its online casino, bet.cr, now offers live dealers on the web-based version of the casino. Players can play baccarat, roulette, and blackjack live.
To access the live dealers, players should choose the option to, "play our instant browser based games." A page will open up allowing players with deposits to play using live dealers.
For players who enjoy slot action, our progressive jackpot presently exceeds $1,200,000 while our Fun in the Sum jackpot is above $250,000.00. These pools continue to grow until a lucky winner hits the jackpot.
Our affiliates receive generous commissions and they can now promote the live dealer offerings and earn residual income from players. If you operate a website, you should consider promoting www.bet.cr and taking advantage of our growth and development.
Unfortunately, our gaming offerings are presently only for non-United States residents.
ABOUT BENEFICIAL HOLDINGS, INC.
Beneficial Holdings, Inc. is a casino investment holdings company, specializing in acquiring undervalued gaming assets. The Company owns a hotel in Managua, a bar and casino also in Managua, and it operates gaming centers in Masaya. The Company operates the www.bet.cr by Beneficial online casino and the forthcoming www.sportsbook.cr site.
This communication does not constitute an offer of securities for sale. It contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements involve risks and uncertainties that could cause results to differ. Statements are based on information available as of today and the company undertakes no obligation to update statements to reflect future occurrences http://finance.yahoo.com/news/Beneficial-Holdings-Inc-iw-3780099848.html?x=0&.v=1
The trading week will be slow due to the holidays and added blizzard, there was not much going on in the markets but you may be able to get cheapies, watch for stocks that have been trading with a trend , buy on dips
TLAN (Hire Int'l Inc) .0036 , traded well with almost all buys throughout the day hit a high of .0049 , but closed at .0036 this stock trades extremely thin , with added volume this thing may break .01, this stock has traded in .05 range
TTDZ (Triton Distribution Inc) .0090 this stock has broken highs since R/S now is expecting anticipated news for Jan 15 , this stock tends to breakout quite easy watch for dips.
Triple Zero stocks to watch, get em cheap they usually go up
Years about to end and the market may be slow , some investors may be selling or there will be slow to little volume. As the year comes to an end we hope to end it on a good note. There may be a chance to buy some cheap shares , some stocks I will be watching are:
UWRL ( U.S Wireless) .0007 this stock still in consolidation , some investors are giving up , but i see .0006 and .0007 as prime opportunity to profit on a major run about to happen , this company has finally made progress in getting C/E removed with recent filings and letter of attorney , with C/E removal this will ultimately lead to expected Mergers.
MXGD (Midex Gold Co) .0012 this stock in my opinion has hit bottom at .0010-.0012, I see this stock going to trade to .0020 soon , this stock deals with diamond mining , watch for a breakout after .0014 , this stock is waiting for a reversal
Bottom Bouncer
KATX (Kat Exploration Group) .028 mining stock , look for a bottom may be a good time to get in
With the year ending taxes are just around the corner, many investors will be taking losses tomorrow so there will be little to no trading in my opinion, investors usually end up taking losses on any stocks selling for a loss in order to get the write off on there taxes , so be careful with any stock tomorrow. With that said you may be able to get very cheap shares of stocks that you have been trying to bid on so that may be something that you may want to take into consideration
UWRL (US Wireless) .0006 This stock is back to .0006 and hit a High of day at .0009, There is alot of bashing going on in many boards that leads me to believe that investors are scaring people into selling and then letting them get .0006's filled, The C/E is just about ready to be removed and the mergers are lined up there after , There have been plenty of times where everybody jumps ship just before the stock rockets off , this stock traded easily to .0020 before I think we will see this run soon
UWRL (U.S Wireless) .0008 this stock has been through quite some process, dropped to .0006 and consolidated from .0006 to .0008 , with recent filings and changes and now a attorney letter released on pink sheets shows that C/E removal is imminent, patient hands will be rewarded , investors will flock with anticipation
Attorney Letter with Respect to Current Information- Attorney Letter with Respect to US Wireless Online, Inc. (UWRL) http://www.otcmarket...Id.pdf?id=41408
PRMO (Prom Resources Inc) .0002 Today Prom resources finally released highly anticipated news through marketwire, in less than 10 minutes into trading the stock which closed at .0001 hit .0003 300% above previous close. News released Dec 20 2010:
Press Release Source: Prom Resources, Inc. On Monday December 20, 2010, 8:30 am EST
ORLANDO FL--(Marketwire - 12/20/10) - Prom Resources Inc. (the Company) (Pinksheets:PRMO - News) is pleased to announce clarification of its Sales.
In the company's first quarter ended September 30, 2010, we had gross profits of $4,115,124. The company's operating expenses were $1,105,330 and the net profit,$3,009,794, resulted in an average of $1,235 per troy oz on the sale of gold material. The company expects to increase production and inventory in fiscal year 2011 and while continuing our program of selling gold Material.
Our full quarterly report is available on: http://www.otcmarkets.com/otciq/ajax/showFinancialReportById.pdf?id=41335
With financial news released and investors now assured , it is only a matter of time before this pps reflects its financial news, .0002 and .0003 is quite the steal in comparison to its finances of 3 million in net profit
UWRL (U.S Wireless) .0008 this stock has had major ups and downs , and has been consolidating at these prices for quite some time. This stock was a stock to watch for quite some time and has traded in the .0020's but eventually tested its investors patience with C/E removal , well it has released the following and C/E removal is now imminent along with mergers :
PRPM (Pro Tek Capital) .0004 this stock has seen major volume increase in the past few days , with news of share buy back finally being digested and company releasing news aggressively assuring its share holders , I believe at this price should be highly profitable here are a list of last PR's :
By: James Cook & Theodore Butler
Posted 24 November, 2010
Cook: For the past ten years you have been claiming that silver was the best thing people could own. How do you feel now with silver around $25 an ounce?
Butler: I have a sense of relief that I could not possibly have hurt anyone who followed my advice. I also feel intellectually vindicated about the way things are turning out. Lastly, I feel amazed how good silver still looks for further gains.
Cook: How high could it climb?
Butler: Real high, but by now you should know I shy away from specific price targets.
Cook: A lot has been going on with silver lately. Most of the things you’ve written about are starting to happen. What do you think about the recent spate of lawsuits against JPMorgan and HSBC?
Butler: It’s a big deal. The main thing is not the outcome of this case, but rather the fact that they were filed.
Cook: How many lawsuits were filed?
Butler: The latest tally is 25, I’ve been told.
Cook: Why do you think these lawsuits are important?
Butler: It is another confirmation of the growing recognition that silver has been manipulated in price.
Cook: They must be reading your newsletter because everything claimed in the first lawsuit originated with you. Do you agree?
Butler: Yes, I know that for a fact.
Cook: The basis of the lawsuit is that these big banks are short an inordinate amount of silver. How much to be exact?
Butler: It varies over time, but at the time referenced in the lawsuit, JPMorgan, either alone or with another U.S. bank, held short on the COMEX the equivalent of 25% of world annual mine production
Cook: How many ounces is that?
Butler: In most recent CFTC data, it is 150 million ounces, but within the past year it has been over 200 million ounces
Cook: You’re claiming that’s manipulative?
Butler: Absolutely. It would be impossible for such a concentrated short position not to be manipulative. It was this observation that led to the current CFTC silver investigation which, in turn, led to this lawsuit.
Cook: How many ounces are there held short in total?
Butler: The total net short position in COMEX futures is around 550 million ounces, but if you include everything, especially unbacked bank certificates and pool accounts, it grows to 2 or 3 billion ounces.
Cook: Who are these short sellers outside of the big one or two?
Butler: On the COMEX, there are about 8 commercial entities short over 300 million ounces, including the biggest.
Cook: They got squeezed pretty good when silver hit $29, didn’t they?
Butler: You bet.
Cook: How big have the losses been for the shorts?
Butler: In silver, the big 8 were out over $3 billion at the top, and more than $5 billion if you include all the shorts.
Cook: You pointed out that there had to be a lot of margin calls, when gold is included, what’s the total?
Butler: All in all, almost $15 billion.
Cook: They actually had to cough up $15 billion?
Butler: Absolutely. That’s a key component of the clearinghouse system.
Cook: Did anybody fail to make their margin calls?
Butler: It’s hard to tell.
Cook: I thought the price rise to $29 might have been because some folks couldn’t make margin calls and the brokerage firm bought back their position. No?
Butler: I’m certain there was a lot of that; they liquidate the contracts to satisfy the margin calls.
Cook: They don’t mess around do they?
Butler: This is basic commodity stuff. As a customer, if you don’t meet your margin calls your broker will liquidate your position. Otherwise the brokerage firm must eat the customer’s loss. Brokerage firms don’t allow customers a free ride. If a brokerage firm doesn’t meet its overall margin requirements to the clearinghouse, that’s a default, a real no-no.
Cook: It’s hard for me to believe that JPMorgan is sitting flatfooted waiting for the axe to fall. Don’t you think they’ve dug up a lot of silver to help reduce this short position?
Butler: I’m sure they’ve come up with as much silver as possible, but there are physical constraints to that. Their problem is not a money problem, but a physical material problem.
Cook: I see they raised margin requirements on silver. Why only silver?
Butler: Silver had moved the most and the margins should have been raised. The scandal was when they raised the margins. This is an issue of timing. They waited until prices made a downside reversal and then raised silver margins.
Cook: Is this fishy?
Butler: This is an example of why I refer to the CME Group (COMEX) as operating a criminal enterprise, as I’ve seen them pull this dirty trick numerous times in the past. The exchange times the margin increase so that it comes when it is least likely to hurt, and maybe help, its big constituent member short holders. That time is always best when the price makes a sudden reversal down after a big climb. This way, the margin increase actually hurts the longs and benefits the shorts. The reversal to the downside swings the financial tide against the longs temporarily.
Cook: What should they have done?
Butler: What they should have done is raised margins on the way up, but that would have hurt the shorts, something the exchange would never do. By timing the margin increase just after a price reversal to the downside, the exchange helps the shorts.
Cook: Are they above the law?
Butler: What’s particularly infuriating and illegal is that the exchange is designated under commodity law as a self-regulatory organization (SRO). That means the CME Group is supposed to do things on a fair and even-handed basis, not cater to the selfish interests of its most important members. The phrase that comes to mind when describing how the CME fulfills its regulatory obligations is letting the fox guard the henhouse.
Cook: How in the world did this come about?
Butler: The CFTC and Congress made a very big mistake when they turned over so much regulation to the exchanges years ago. There is a conflict of interest in what the exchange does in its regulatory role. That’s why the COMEX is fighting the CFTC tooth and nail over position limits and every other issue that may infringe on its own interests.
Cook: The Commodity Future Trading Commission has ruled that within 3 months or so they will put limits on how much one entity can be long or short. Will this break up the concentrated short position?
Butler: If they stick to the timeline dictated by the new law and if they impose legitimate limits and throw out the phony exemptions to those limits.
Cook: Won’t that set silver “free at last?”
Butler: Yes, “thank God Almighty.”
Cook: Will the COMEX back down?
Butler: I don’t think so. They know this is the one issue that can blow the lid off silver.
Cook: Silver could turn into a runaway train. Why don’t these short sellers get out of the way and cover now?
Butler: They desperately want to, but it’s easier said than done because their position is so large that they are trapped. Just covering the limited amount of shorts to date has already had a profound impact on price. Why do you think we’ve risen so much in the past few months?
Cook: One of the commissioners at the CFTC has made a number of statements criticizing the shorts and the Commodity Exchange itself. Sounds like the senior regulators have embraced your views. Do you agree?
Butler: It’s hard to reach any other conclusion.
Cook: If that’s true then position limits are inevitable would you say?
Butler: The new law has mandated position limits, so unless the law is repealed I would say they are inevitable. But more than that, it’s important to remember that position limits are of specific relevance for silver more than any other market.
Cook: What do you mean?
Butler: COMEX silver is the only market which must have position limits radically reduced from the current accountability level. In all other commodities, including gold, the level of position limits is not so important because the short position is not that large. In silver, it’s the core issue.
Cook: What kind of position limit level do we need to see in silver?
Butler: If we don’t see a new level of close to 1500 contracts, instead of the current 6000 contract level, then this market is more crooked than I have been alleging. And I would think those in the public who follow this issue closely will be outraged and demand an explanation from the regulators. I know I will be.
Cook: Is it safe to say that silver is a buy until the short position is covered?
Butler: At least until the concentrated short position is reduced.
Cook: The volume on the SLV, the exchange traded fund, went ballistic recently. How many shares were trading before this jump and what did it go to?
Butler: There was an average daily volume of close to 15 million shares a day and it jumped to ten times that on a recent trading day.
Cook: How much of that was day trading?
Butler: Close to 99%, same as in every other market.
Cook: OK, but how much silver do you think was purchased on balance and must be delivered to the SLV?
Butler: I had been guessing close to 20 million ounces, but much to BlackRock’s credit (they’re the new sponsor), the silver is being brought in much more quickly than when Barclays was the sponsor.
Cook: Where is the silver coming from?
Butler: No one knows for sure, but the hallmarks on many of the new bars being deposited were from Russia and China. I think that’s good, because as those two countries wake up to the silver manipulation, they should be unlikely to continue supplying material at artificially depressed prices.
Cook: I heard a big delivery came in to the SLV last week. True?
Butler: Yes, there was an extraordinary deposit of 11.3 million ounces into the SLV on Wednesday, November 10, the largest one day deposit in the ETF since 2006. This brings the deposits into the Trust to over 18 million ounces in little more than a week and a half, to a new record of over 344 million ounces.
Cook: Are you underestimating the amount of silver available? Seems like there is always more silver.
Butler: While it is certainly possible that I have underestimated the amount of silver bullion in the world, that is not yet evident to date. I have always estimated about one billion ounces and we haven’t grown above that amount yet. What has happened is that more silver is being transferred from unreported inventories to reported inventories. This does create the illusion that the supply of silver is endless. It is not.
Cook: How much is left in unreported inventories that can come into the market?
Butler: Unless you have Superman’s x-ray vision and can see all the world’s vaults simultaneously, there is no way to know how much is left in unreported inventories. And I guarantee that you will make yourself crazy if you persist in trying to figure out the amount remaining.
Cook: Are you still sane?
Butler: No one comes with a butterfly net.
Cook: How much is known or in the reported category?
Butler: Since 2006, more than 550 million ounces have been transferred from unreported silver into reported world inventories, including the SLV and all other similar programs. Currently there are more than 716 million ounces in total world visible silver bullion inventories. That’s a very big chunk of my long-time estimate of one billion ounces in total world inventories. The way to look at it is that there are 550 million ounces less that can be transferred in the future. The long-term rise in price would seem to confirm my thinking.
Cook: Could the big shorts be buying the SLV to cover their short position?
Butler: Sure, but not to excessive amounts, as that would require lying to the SEC on ownership disclosure regulations. That’s not likely.
Cook: How much silver do you think JPMorgan and one other bank are short?
Butler: As of this moment, I’m guessing JPM may now be below 25,000 contracts. That’s 125 million ounces. But we won’t know for sure until more CFTC data are released.
Cook: How about the big eight shorts?
Butler: My guess is they are down to 56,000 contracts. That’s 280 million ounces.
Cook: How about all the shorts combined?
Butler: In COMEX futures total, I’d guess a bit under 500 million.
Cook: How does that compare with other commodities?
Butler: Still way off the charts when comparing paper contracts to real world production and inventories.
Cook: Do you see this leading to a price explosion in silver soon?
Butler: It’s one of several things that will lead to an explosion.
Cook: How does the silver short position compare to gold?
Butler: The silver short position is much bigger than gold in every measurement, especially compared to world inventories. Silver’s relative short position is more than 100 times larger than gold’s.
Cook: Do you think silver will outperform gold?
Butler: Yes. Silver has yet to leave gold in the dust, although it has fully matched or exceeded gold’s price performance. That is actually an advantage to those gold investors who have yet to make the switch into silver. It’s not too late.
Cook: Are you suggesting a switch now?
Butler: Yes. The facts suggest silver will outperform gold in the future, the logical investment action would be to convert gold into silver. Not because gold is likely to go down necessarily, but because silver is likely to offer better investment bang for the same buck.
Cook: Have people begun to switch?
Butler: There has been a noticeable shift to physical silver investment demand, perhaps from gold investors, although I still believe it’s in the early stages. Additionally, U.S. Mint sales of Silver Eagles are particularly strong relative to Gold Eagle sales, further confirming what may be a growing investor preference for silver over gold. Given how little silver exists compared to gold, if this trend continues, the influence on silver prices should be profound.
Cook: What’s the gold-silver ratio now?
Butler: The gold/silver ratio narrowed to almost 52. This is the best relative reading for silver since the summer of 2008, just before the price of silver was manipulated lower by JPMorgan and other commercial crooks on the COMEX.
Cook: You’ve got big cahunas calling JPMorgan a crook over and over again. Ever hear from their lawyers?
Butler: Not a peep and I send every article I write in which I mention JPMorgan to Jamie Dimon, CEO of JPMorgan and to the top regulatory officials at the CME, in addition to the CFTC.
Cook: I wonder why they haven’t sued you. If someone was calling my company crooked I think I would at least have my lawyer send them a letter.
Butler: Look, I’m not looking to get sued, but I don’t know of any other way to flush these weasels out. I know that JPM and the CME are operating as a criminal enterprise when it comes to silver.
Cook: What about the COMEX? You’ve been calling them sleazy for years. Have you ever received an answer to the numerous letters you’ve sent them?
Butler: Up until a few years ago, they would respond from time to time, but more recently they’ve been hiding behind the CFTC’s skirt and letting the Commission do their dirty work.
Cook: Yes, but now I see the COMEX has been in bitter disagreement with the CFTC on position limits. Why are they so opposed?
Butler: It may indicate that the CFTC, under Gary Gensler, is sick of the exchange using the CFTC. The reason the CME is so opposed to position limits is because of silver, not any other commodity. Don’t be fooled into thinking this isn’t a silver-specific issue.
Cook: Why only silver?
Butler: This is an important point. There is no position limit problem in any other commodity apart from silver. Not in oil, or grains or gold. Just silver. It’s the dirty secret that’s about to be revealed.
Cook: How much money have the banks made over the years with this big short position in silver?
Butler: Cumulatively, it could be billions of dollars.
Cook: This gravy train has suppressed the price, right?
Butler: Yes. The concentrated short position makes it impossible for the price not to have been suppressed.
Cook: If the market gets free of the concentrated short position it should revert to the true market price. Any idea what that is?
Butler: I’ll let the market tell us, but much higher than we’ve been in silver.
Cook: Do you think it will overshoot?
Butler: I think it’s impossible for it not to overshoot.
Cook: You think that Chairman Gensler at the CFTC is a straight shooter, right?
Butler: I think he walks on water. I may be dead wrong, but I’m a pretty good judge of human character.
Cook: Will he cure the silver mess?
Butler: If he follows the law and what he knows to be right.
Cook: Is he more competent than prior chiefs?
Butler: Gensler is the smartest guy in any room. It would be an insult to compare him to any former chairman or chairwoman.
Cook: Do you still claim the CFTC has looked the other way?
Butler: They have in the past, but I sense that is changing.
Cook: I think they hate your guts. Nobody’s been in their face with solid accusations like you have. Are they still hostile?
Butler: Hard to tell. I’m not concerned with past feelings. I don’t see why they would still be hostile; I offer constructive solutions where nobody else does. If they are hostile to anyone it should be towards those responsible for the manipulation, like JPMorgan and CME.
Cook: You’ve been the pioneer of virtually every new revelation about silver for over a decade. Just about everything that you predicted has come to pass. You’ve been a great conceptual thinker on silver and the premier whistleblower. Do you think the CFTC will ever acknowledge this and give you the award you deserve?
Butler: I sure hope so, but you’d have to ask them.
Cook: Everybody and his brother is writing about silver now. Some of it is amateurish and the good stuff originated with you. However, most of these articles never give credit to you. Do you agree that this is dishonorable?
Butler: Yes.
Cook: These organizations and individuals are trying to elbow themselves into position to take credit for your work. I’ve never seen anything like it, have you?
Butler: No.
Cook: What do you make of it?
Butler: Those that plagiarize are stealing my stuff and then lying by pretending they thought up my ideas. I’d avoid such people with a ten-foot pole.
Cook: They need to at least mention you if you are the source of their information. Right?
Butler: I think so.
Cook: Let’s change directions. What about COMEX silver inventories? What’s going on with them?
Butler: Recently, COMEX warehouse inventories dropped to near four year lows, at just under 108 million ounces. This drop, importantly, was accompanied with great turnover (in and out movements); highly suggestive of tightness and that the inventory is held in strong hands.
Cook: What’s the historical perspective on this?
Butler: COMEX silver inventories are down 60% from the 280 million ounce peak in the mid-1990’s. In contrast, COMEX gold inventories are at a record high of over 11.3 million ounces, the highest in the 45 year history of the COMEX. This is an apples to apples comparison, as the COMEX is the dominant market for both gold and silver trading.
Cook: Are we in a shortage?
Butler: I think we are in the early stages of a silver shortage that is bound to grow more severe.
Cook: Won’t this cause a surge in mining production?
Butler: Sure, eventually. But any mining increase in response to higher silver prices will take many years to hit the market. It’s not like flipping a light switch.
Cook: You’ve mentioned three things that will drive up the price of silver. It looks like one of them, investment demand, is kicking in. Will it get bigger than this?
Butler: I think that’s a certainty, as more people are waking up to the silver story.
Cook: Your second bullish factor is industrial demand. Do you still expect industrial users to panic because of a shortage?
Butler: Ever see what’s left in a supermarket after a hurricane warning?
Cook: Where does the price of silver burn itself out if a buying panic occurs?
Butler: Use your imagination. Then double it.
Cook: Your final and biggest bullish factor is the end of the concentrated short position. What will this do?
Butler: Terminating the concentrated short position will end the decades-old manipulation itself. That will bring about an honest and free market.
Cook: How will they cover the short position?
Butler: By buying back the position, delivering against it or by defaulting on it.
Cook: What about going forward? What will no big short sellers mean for the future?
Butler: It will be a different world price-wise.
Cook: According to the CFTC, the deadline for position limits is just over 2 months. Is silver a ticking time bomb until then?
Butler: Silver is a ticking time bomb for many reasons and the coming open debate on position limits is one of them.
Cook: The shorts are going to have to buy back futures aren’t they?
Butler: At some point, the shorts buying back is the post plausible outcome, as the only other choices are to deliver metal or default.
Cook: How many more shorts other than JPMorgan will have to cover?
Butler: My guess is somewhere around 15 to 20 thousand, a 75 to 100 million ounce equivalent.
Cook: Am I missing something or is this a lock?
Butler: If you mean much higher prices, then it looks like a lock to me.
Cook: This is so compelling I have to ask why it hasn’t been discounted in the silver price? How come it’s not $100 already?
Butler: I think it’s a combination of a lack of homework and the initial disbelief of the whole silver premise which prevents an objective investigation.
Cook: I remember when we first met ten years ago. You were telling me silver was the best thing on earth to own. Meanwhile, a well known investment service was sending out mailings suggesting people short silver at $4.00. They said silver was more plentiful than cockroaches. I wonder what happened to them?
Butler: I hope they covered their shorts quickly.
Cook: I bring this up because a lot of people have disagreed or argued with you along the way. They’ve all been proven wrong. However, to this day there are naysayers. What do you say to a guy like Jeffrey Christian at CPM who says there’s no way that JPMorgan is short that much silver?
Butler: Generally it’s good that disagreement exists so that market participants can hear both sides of the silver story.
Cook: What about Jon Nadler who says if Ted Butler was right the price would already have gone up?
Butler: The price has gone up and will continue to do so, in my opinion.
Cook: Why exactly has silver made this big recent move?
Butler: Primarily because of a lack of additional commercial short selling on the COMEX. It was the absence of additional commercial short selling, particularly by the big concentrated shorts, like JPMorgan, that allowed the price to climb as much as it did. On the rally it became obvious that the shorts were experiencing great financial stress, being forced to deposit many billions of dollars in margin calls. This should be taken as further proof of the manipulative role that the big shorts exerted on the price of silver.
Cook: Why did it get whacked?
Butler: The problem for the big shorts was that not only were they experiencing financial stress due to the rising price, they were unable to reduce their short position. That circumstance threatened to result in financial ruin if permitted to continue. Faced with financial ruin and the growing awareness by many of the predicament the big shorts were in, they resorted to their only alternative to that ruin – create a large and dramatic sell-off. That was what we began to see on Tuesday, with the CME’s unethically timed silver margin increase and the collusive vicious sell-off on Friday, under the cover of general commodity weakness.
Cook: What’s next?
Butler: No one knows for sure. It comes down to how much additional long liquidation the big shorts can engineer. We are still above all the critical moving averages, so there does exist the possibility we could go lower to get the technical funds completely flushed out. For sure, if we do go lower, it will be because JPMorgan and the other COMEX crooks are successful in tricking the technical funds into forced selling and not for any other reason. But there has been significant liquidation already, so it is just as possible it could be done or nearly so. Certainly there is nothing in the real world of silver that would account for further selling.
Cook: What’s the status of the formal investigation of silver by the CFTC, Enforcement Division?
Butler: It has yet to be concluded. A new director was just named which should help resolve the investigation that was initiated because of my revelations in 2008 and which Commissioner Bart Chilton publicly referenced recently. No one is more anxious than me to see what the investigation concludes.
Cook: You’ve made a big thing about pool accounts at brokerage firms, international banks and private mints. What can go wrong?
Butler: Everything. It is not hard to imagine investors ending up with a total loss because the metal may not exist to back these programs. If someone is claiming to store 1000-ounce bars for you and you don’t have the serial numbers for the exact bars you paid for, you should run, not walk, to a storage program that allows you to get the specific bars. I’d be especially wary of metal purported to be stored out of the country.
Cook: Are you recommending people switch from gold to silver?
Butler: Most definitely. That still appears to be a switch, which will be greatly rewarding. It amazes me how so many commentaries predict that silver will outperform gold, yet won’t come out and say that you should sell gold in order to buy silver. It makes no sense not to sell gold in order to buy silver if you are convinced silver will outperform gold. I think many feel it’s heresy to sell gold for any reason. But if your goal is to get the best return on your investment dollar in the future, which it should be, switch to silver from gold.
Cook: The bottom line is that people who followed your advice have made a lot of money. What advice would you give to our clients now?
Butler: Well, the days of 4 or 5, 7 to 12 dollar silver are over and that’s too bad for new buyers. At least we spared no effort in urging folks to buy all along. I think in the future we will look back at current prices with much the same result, namely, large profits for those who bought. Although the price is much higher now than it was then and conditions have changed, in many ways today’s new conditions are better.
UWRL (US Wireless) .0006 Buzz has been swirling over the weekend about a Merger and possibility of C/E removal, this stock is anticipating news on merger and CE removal for a long time, the rumor alone can send the pps higher , put on watch http://investorshub.advfn.com/boards/read_msg.aspx?message_id=57931431
12/17/10 - UWRL - U.S. Wireless Online, Inc. - Amended List - President changed from Sandra Palma to Adil Albert
VYGO (Voyager Petroleum) .0056 This stock recently alerted news on a letter of intent on a merger and saw a spike in pps from .0006 to a High of 0060 , this stock is a prime example what a stock can do with merger announcement , keep on watch as it may break .01 soon
CHART PLAY BFHJ (Beneficial Holdings Inc) .0020 mentioned at .0016 now at .0020 this chart looks like it will be set for higher lows and higher highs , this stock has traded at .0040 and seems like it will make a run with announcement of sports book addition to online gambling BETcr.com
Paying for Tax Cuts: Whose Money is it? by Ron Paul
George Orwell warned us about the use of meaningless words in politics — words that are endlessly repeated by sloganeering politicians until they have no meaning at all. Meaningless words certainly were on display last week during congressional debate over the latest tax bill. Over and over again we heard trite, empty phrases like “tax cuts for the wealthiest 2%”, “tax giveaways”, “tax earmarks”, and “borrowing money to give to millionaires.” Time and time again the same falsehoods were presented as fact and reported as such by our credulous media.
But all of these cliches about taxes are based on the presumption that government has a right to all your income, so government gives you something when it allows you to keep a portion of that income. To this mindset, tax cuts represent a cost to government. It’s argued that money that really ought to go to the most noble of purposes — wealth redistribution via taxation — is being kept by greedy people and corporations who just don’t want to pay their fair share.
Far too many Americans truly believe that tax cuts represent a government giveaway, indistinguishable from an outright subsidy or entitlement payment. To combat this mindset we need to be clear with our language. A subsidy, properly understood, occurs when government takes tax dollars and gives them to favored individuals, companies or industry. A tax cut by contrast simply means government takes less from an individual, company or industry. When government takes less from you, it has not given you anything. It merely has harmed you less. This is the critical distinction that has been lost in the endless tired debate about tax policy.
Of course, the bill passed last week did contain some actual spending, mostly in the form of an extension of unemployment benefits for another 13 months. The total spending in the bill amounted to about $60 billion, but the tax savings in the bill, meaning the amount of money that will remain in the hands of the taxpayers rather than being sent to Washington is approximately $850 billion. So while a clean tax bill would have certainly been preferable, the tax relief it contains is significant. It means $850 billion will be spent, saved or invested by American citizens rather than being sent into the black hole known as the federal treasury.
The media however dutifully reported that opposition to the bill came from concerned members of Congress who felt the $850 billion “cost” of the bill was too high and would add too much to the deficit. As always, they could not distinguish between government giving and government taking away. The American people already pay plenty in federal taxes. The deficit is the result of a spending problem, not a revenue problem. Had the bill not passed, millions of Americans would have seen their paychecks shrink in January due to the increased tax withholding. That is the plain and simple truth, and that is why I voted for the bill.http://www.ronpaul.com/2010-12-19/paying-for-tax-cuts-whose-money-is-it/
