Bloody Friday for PM's....
OneCent
Posts: 3,561 ✭
This might just be the grande finale...
Collector of Early 20th Century U.S. Coinage.
ANA Member R-3147111
0
Comments
-Paul
Also looking for VF-EF Seated halves.
Sell me your old auction catalogs...
I think my bedtime bell just rang.
Traveling to NC tomorrow, for the weekend.
C'yas.
that would be c'yall if you're comin' my way
greg
www.brunkauctions.com
Camelot
<< <i>740 bottom >>
That be size of bears undies? or a call of shrinkige of said?
- Marcus Tullius Cicero, 106-43 BC
not
BMs
One dealer wanted spot +$1.10 per ounce for Englehard silver 100's.
Another dealer was offering spot +$20 per coin for KR's to fill orders.
This market makes no sense at all.
TD
From what I hear, the worn out $1 bills are great for wiping. An ounce of Silver, Gold, Plat or Palladium gets you in the door.
Appears? It is manipulated by the Fed who is employed by the owners of this country.
The owners being the Rothchilds, the Warburgs, Lehman Brothers, the Rockefellers, Israel Moses, Chase, Morgan, etc.......
I read somewhere that the Rothchilds own 35% of the Fed.
I thought we broke free of the crown?
See? Toldja I had to go to bed last night. I was trying to think of what sort of bloody Private Messages somebody had sent him!
'Round here, I tend to think of PM = Private Message before I think of PM = Precious Metal.
Maybe it's because I have so many more of the former than the latter.
The bid/ask spread has to get wider because of the increased volatility. I predict with great certainty there will be lots more volatility in PM prices in the future!
<< <i>Do you really want to be in what appears to be a manipulated market? >>
We really have little choice...We LIVE in a manipulated marketplace and will continue to do so...for as long as we agree to wake to our alarm clocks..."punch in" to our jobs...and listen to the government rather than demand that it listen to us...we have given away all but our right to complain...and even that may be soon to disappear...
Gold and silver hold value because the "powers that be" say it does and we all go along and agree...been that way since the beginning of "recorded history"...
Can't eat it...can't grow food with it...doesn't make very useful clothing...folks tried using it as medicine long ago...did more harm than good...
Might be pretty to look at though...makes nice jewelry...pretty coins...
(and sure we can use it to do some cool technological stuff...but it still doesn't have the direct ability to feed or clothe us...and has tended though history to set people against each other more than it has helped to bring us together)
...and as long as we share our mutual agreement to use it for purposes of gathering "wealth" (artificial as it may be) and for use in trade...it will hold some form of value...
...but only as long as we continue to agree to agree...that it has value...
way to make money, we learn that it no longer is.
Camelot
Yes. I can't bring back the 1950's or 1960's.
Other than possibly fish lures and Pez dispensers, markets are manipulated across the board, more today than anytime in the past 30 years. Hence trying to compare less manipulated markets from the 70's and 80's with today's is very difficult. To not be in a manipulated market today, means to give up and toss in the towel.
Every time we all think that we have discovered a sure fire
way to make money, we learn that it no longer is
Because the markets are manipulated. Those manipulating are making money on the way up and on the way down.
roadrunner
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It is no worse today than it has EVER been; just more transparent, regulated and reported.
Read the sundry bios of Joseph Kennedy.
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From 1977 to 1980, Jackie Kennedy's relationships with the Kissinger/Harriman
cabal allowed her the opportunity to exponentially increase her wealth through
a guided accumulation of PMs, and a fortuitous EXIT from precious metals positions
at the height of the bubble. It is widely believed that the Kennedy family was a prime
beneficiary of the PMs' run and subsequent collapse.
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wiki
Joseph Kennedy
Wall Street
In 1919, he joined the prominent stock brokerage firm of Hayden, Stone & Co. where he became an expert in dealing in the unregulated stock market of the day, engaging in tactics that would later be labeled insider trading and market manipulation. In 1923 he left, and set up his own investment company, becoming a multi-millionaire during the bull market of the 1920s.
David Kennedy, author of Freedom From Fear, describes the Wall Street of the Kennedy era:
“ (It) was a strikingly information-starved environment. Many firms whose securities were publicly traded published no regular reports or issued reports whose data were so arbitrarily selected and capriciously audited as to be worse than useless. It was this circumstance that had conferred such awesome power on a handful of investment bankers like J.P. Morgan, because they commanded a virtual monopoly of the information necessary for making sound financial decisions. Especially in the secondary markets, where reliable information was all but impossible for the average investor to come by, opportunities abounded for insider manipulation and wildcat speculation. ”
The Crash
Kennedy formed alliances with several other Irish-Catholic money men, including Charles E. Mitchell, Michael J. Meehan and Bernard Smith. He helped establish the Libby-Owens-Ford stock pool, an arrangement in which Kennedy and colleagues created an artificial scarcity of Libby-Owens-Ford stock to drive up the value of their own holdings in the stock. Using inside information, and the public's lack of knowledge, a pool operator would bribe journalists to present that information in the most advantageous manner. Attempts to corner stocks were made that would cause the price to go up, and bear raids could cause the price to collapse downward. Kennedy got into a bidding war seeking control of founder John Hertz's company Yellow Cab which is recounted in a book [2].
Kennedy later claimed he knew the rampant stock speculation of the late 1920s would lead to a crash when he received stock tips from a shoe-shine boy.[3]
It has been noted that during the Depression Kennedy vastly increased his financial fortune by investing most of his fortune in real estate. In 1929 Kennedy's fortune was estimated to be $4 million by 1935 his wealth increased to $180 million.
Movie Production, Liquor Importing, Real Estate
Kennedy made huge profits from reorganizing and refinancing several Hollywood studios. Film production in the U.S. was much more decentralized than it is today, with many different movie studios producing film product. One small studio was FBO, Film Booking Offices of America, which specialized in Westerns produced cheaply. Its owner was in financial trouble and asked Kennedy to help find a new owner. Kennedy formed his own group of investors and bought it for $1.5 million.
Kennedy moved to Hollywood in March 1926 to focus on running the studio. Movie studios were then permitted to own exhibition companies which were necessary to get their films on local screens. With that in mind, in a hostile buyout, he acquired the Keith-Albee-Orpheum Theaters Corporation (KAO) which had more than seven hundred vaudeville movie theaters across the United States. He later purchased another production studio called Pathe Exchange.
In October 1928, he formally merged his film companies FBO and KAO to form Radio-Keith-Orpheum (RKO) and made a large amount of money in the process. Then, keen to buy the Pantages Theatre chain, which had 63 profitable theaters, Kennedy made an offer of $8 million. It was declined. He then stopped distributing his movies to Pantages. Still, Alexander Pantages declined to sell. However, when Pantages was later charged and tried for rape, his reputation took a battering and he accepted Kennedy's revised offer of $3.5 million.
It is estimated that Kennedy made over $5 million from his investments in Hollywood. During his affair with film star Gloria Swanson, he arranged the financing for her films The Love of Sunya (1927) and the ill-fated Queen Kelly (1928).
Kennedy was reputed to be an importer of alcoholic drinks from Canada into the USA during Prohibition. The allegations were never proven. After Prohibition ended, Kennedy consolidated an even larger fortune when his company, Somerset Importers, became the exclusive American agent for Gordon's Dry Gin and Dewar's Scotch. Anticipating the end of Prohibition, he assembled a large inventory of stock, which he later sold for a profit of millions of dollars when Prohibition was repealed in 1933. He invested this money in residential and commercial real estate in New York, and Hialeah Race Track in Hialeah, Florida. His most important purchase was the largest office building in the country, Chicago's Merchandise Mart, which gave his family an important base in that city and an alliance with the Irish-American political leadership there.
New Dealer
Kennedy's first major involvement in a national political campaign was his support in 1932 for Franklin D. Roosevelt's bid for the Presidency. He donated, loaned, and raised a substantial amount of money for the campaign.
Roosevelt rewarded him with an appointment as the inaugural Chairman of the U.S. Securities and Exchange Commission (SEC). Kennedy had hoped for a Cabinet post, such as Treasury.
Kennedy's reforming work as SEC Chairman was widely praised on all sides, as investors realized the SEC was protecting their interests. His knowledge of the financial markets equipped him to identify areas requiring the attention of regulators. One of the crucial reforms was the requirement for companies to regularly file financial statements with the SEC, which broke what some saw as an information monopoly maintained by the Morgan banking family. (Kennedy would have known all about information monopolies.) He left the SEC in 1935 to take over the Maritime Commission, which built on his wartime experience in running a major shipyard.
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The largest portion of the Kennedys' wealth was built on SHORT positions;
NOT long positions.
My concern about the manipulation today is that involves the same regulators and overseers that are supposed to curb the abuses. To think that the 1920's "ticker tape- pre fiat" stock market was more manipulated than today's computer driven whackery makes no sense to me. I'm ok with Jackie Kennedy making money on gold in the 1970's. You'll probably tell me she did that while being short as well, right?
roadrunner
It's true that there will always be a catfight over President of the U.S. There's alot at stake, and it's not just political.
I knew it would happen.