Original Sixteen to One Mine, Inc. - Forum Topic: "Miscellaneous"



	September 7, 2010 Tuesday

Forum
Topic:
Miscellaneous

By bluejay
03/28/2010 2:19PM

Sevicing debt in these times is a real killer.

Not only does paying the debt charge shrink consumer demand for goods and services which is counterproductive to economic growth, now it appears that Ford is experiencing problems handling their debt obligations. The sad truth is that China is flipping our IOU's for hard goods as is exemplified by the follow news headline:

Chinese Car Maker Buys Volvo From Ford For $1.8 Billion

The trend is well established for the great American wealth shakedown along with expected future reduced living standards. The reversal trend started with the encouragement from Alan Greenspan to start using our profits in real estate as our own personal ATM machine. Were Americans taking money from their apparent profits or were they just piling on the debt? Well, I think we all know the ugly truth.

What happened in the housing market was no different that what happened in the silver market in the late 1970's. As silver advanced there was more available cash in the accounts of Comex silver investors to either take out lowering their cushion of margin safety or leveraging up with more debt obligations. In many cases they took money out or just, leveraged up. The collapse in prices soon followed with devastating losses to the longs.

Although the Hunts were responsible for the majority increase in silver prices, it was the public and other international interests that took it up to its final high at $50 an ounce from about $35 with their buying rout. The Hunts began their silver buying program well below $5 an ounce. It was never the intentions of them to corner the silver market, the market just could not absorb the money that they wanted to commit to it. The justification for the Hunt's buying program was that they wanted to exchange their dollars for the real McCoy and thought silver undervalued. They were worried the fiat money system was about ready to come apart at its seams.

Fortunes were lost overnight in the silver market due to excessive speculation that was fostered by debt and greed, same as those that busted the housing market. Looking back at home prices, we depended upon on our leaders and got bad advice. Alan Greenspan is the person you blame for your financial ills if you have them. Not only did he encourage us to pile on the debt, he increased the money supply that helped foster the run-away top that imploded the bubble. Excess money created by the Fed, will sooner or later, create all types of bubbles. The grand-daddy of all bubbles is just waiting to happen, hyperinflation.

Now we have another destroyer of our wealth at the helm of the Fed, Ben Bernanke. Bernanke convinced the uneducated House of Representatives, with the aid from Mr. Conflict of Interest, Hank Paulson, to hand over billions of dollars to the irresponsible bank speculators in preventing a Depression. What a farce! According to Martin Armstrong, IT IS THE DEFAULT OF DEBT THAT CAUSES DEPRESSIONS.

The Depression that is coming to California, or is here already, will take down the State and dismandle many agencies in their desperate attempt to save themselves. Hopefully, the Central Water District will be one of those agencies eliminated.

The financial condition of California is more dire than is being reported. The Muni-bond market is in shambles. If you own Municipal bonds just try and sell them. You will end up selling the bonds for a shocking price compared to what your broker is telling you they are worth on your monthly statements. In some cases, there just aren't any bids, no buyers.

The State has been ruined by professional politicians. When State revenues didn't justify their salaries, they just went out and borrowed the funds against our future. As the government expanded more and more by the creation of all these extra agencies and support staff, so to, were they setting us up to be ripped off once their revenues dried up, which they have. The bottome line is: These guys are just not that smart and now we have to pay the cost of their inflated egos.

The debt factor is the key, whether it be housing prices, past silver prices or the activities of irresponsible politicians. A question that comes to mind is, why do the major cities of California have Ethics Commissions to oversee the behavior of their employees while not one can be located for the hired hands of the State?

Yes, debt is the real wealth killer along with being the breeding ground of Depressions. Heaven help us all when State officials come knocking with their new expected laws of embezzlement to cover-up their own egegious financial acts.

The one thing feared by them the most is our right to fire them with our vote. No matter what comes out of their pie-holes, give them all their pink slips when it is our turn.

By bluejay
03/17/2010 10:59PM

Just finished reading Greg Hunter's report from usawatchdog.com concerning the Social Security System that was available tonight on http://www.jsmineset.com.

I must have been watching gold and the charts for too long, as I choked on what I read.

Now, I completely understand what Marc Faber meant when he recently stated, "we are all doomed."

One thing I figured out is that when I first started contributing to Social Security in 1962 while working for E.F. Hutton in my first year of college gold was $50 an ounce.

Today, Gold is over $1,100 and and the purchasing power of my then submitted payments over the years has shrunk to about 25% of what they can buy today which is reflected by my $1,100 plus monthly check.

This report or another report on Greg's website mentioned that the government took $2.5 trillion from the surplus account of the Social Security to hide federal deficits and never paid it back .

So, 75% of some people's original funds submitted have been compromised. The obvious winners on the other side have been the government and the Fed. When buying power disappears these two entities are the benefactors.

This is what a fiat system is all about, to prey on the people.

Here's a little easy dose of inflation that's easy to understand: A pre-1965 silver 10 cent dime with its 90% silver content is worth about $1.25 today.

By Rick
03/17/2010 2:21PM

The Water Board would say "none" because they care more about politics than private sector mining with a hoist and the cable to support it.

So I have a question for the Water Board:

"If the ambient level of arsenic in Kanaka Creek is the same upstream from the mine as downstream, how much cable would it take to pull your head out of..."

By gfxgold
03/17/2010 12:26AM

Mike, using the formula for a right triangle, it would take 460.27 feet of cable on a line of 37 degrees to a depth of 277 feet. Of course, I would go with a full drum of cable and then these numbers wouldn't matter.

By Michael Miller
03/17/2010 12:04AM

Exposure is the Topic I chose over a new topic called, "Plan to Mine". Exposure houses some emtries to savor. It lives on.

Planning To Mine. Oh, sixteen to one mine, the phoenix of gold.
Planning To Mine. Here is a question that needs an answer.

If the elevation change is 277 feet vertical, how many feet of cable is necessary to operate a hoist, considering the dip of the winze averages 37 degrees?

Please enter an answer and explanation if necessary. All support will be valuable. There are underground variables you may wish to include.

By Dave I.
03/16/2010 1:20PM

The "International California Mining Journal" Has an article Referencing Senator Reid making a statement about mining law will not be a subject of legislation for consideration in 2010.

By gfxgold
03/16/2010 12:03AM

NBC Nightly News is running news stories about Nevada gold mining in their "Fleecing of America." More anti 1872 mining law and more royalty mania. If you would like to see their stories, go to: http://www.msnbc.msn.com/ and click on video.

By bluejay
03/10/2010 1:36PM

No one really has to wonder anymore as to why we have such dependence on foreign sources for natural resources: The US and especially California, are just plain anti-mining. As the excerpt below clearly states, we have uranium but we prefer to import it adding to the nation's trade deficit and restraining the miners in the confines of the unemployed.

The excerpt is from the article "Identifying Stars In The Mexican Precious Metals Universe" Part II that appeared in the Gold Report January 10, 2010 and that was written by Trey Wasser.

"We currently operate the world's largest fleet of nuclear reactors, which produce 20% of our electricity. The U.S. currently consumes 56 million pounds of uranium annually, but only produces 4.5 million pounds. So without adding a single new reactor we are short about 50MM pounds of uranium a year. That is hardly energy independence- especially considering that we have one of the world's largest resource bases of the metal."

It is understood that in our country's historical pursuit of the metal Mother Nature was harmed but that was the fault of government, not the miners. For it was the government that issued the permits. It was, also, the government's responsibility to insure that the land and waterways were protected which they completely failed to do.

How life for the miners has changed these days as the pendulum has swung to the other extreme: the regulatory agencies have now turned into big business with the appointees pulling in $100,000 monthly salaries plus who continue to castigate the miners with fantasy justification for fines and penalties.

Unfortunately, the miners don't have the big check book that Goldman Sachs has to keep the regulators in their industry off their backs.

Is our problem with the Central Valley Water District caused because we don't run a lobbying effort like Goldman Sachs?

It's fairly obvious to informed people that rule books get thrown at you when your doing something that someone else doesn't like. Is it possible that because stuffed white envelopes weren't exchanged under tables that today we find ouselves in the position of being nailed to the cross?

Where is the rider on the white horse? What's really amazing is that after the other three horsemen of the Apocalypse have ransacked our camp, our fires are still burning. Thanks, Mike.

By bluejay
03/07/2010 10:02PM

California gets a temporary pass without a mention.

From Jim Sinclair:

Credit default swap OTC derivatives are weapons of real warfare. They are already operating against US state debt.

Soon states will be falling like bowling pins. The US dollar will follow as it drops below .7200.

Cash-Strapped States Delay Paying Income-Tax Refunds
On Friday March 5, 2010, 12:23 pm EST

This year, more Americans and businesses may be asking: Where’s my tax refund?

That’s because cash-strapped states such as North Carolina, Alabama and Hawaii have been forced to slow down issuing income tax refunds to individuals and businesses because of a lack of funds in their budget.

Kansas has hinted that a delay might be possible, and processing paper refunds in Iowa has slowed because the state doesn’t haven’t enough employees to get them processed faster.

Another state, New York, is still considering whether they’ll follow the likes of Hawaii and delay refund payments.

"States typically do this when they are tight and they don’t have a budget in place," said Karla Dennis, CEO of Cohesive, a nationwide tax preparation firm. Things are dire at many states: forty-one states are expected to have mid-year budget gaps totaling $37.7 billion, according to the Center on Budget and Policy Priorities.

Delaying the refund, Dennis says, "gives the state funds to work with in the interim to fill a gap in their revenues."

By bluejay
03/02/2010 12:30PM

Hello Dave

I couldn't agree with you more. The 30 to 40 age group in Reno that I am aware of have lost their jobs while the remainder are in fear of being eliminated as well.

I have never in my life known of so many personal bankrupties and others seeking legal advice for them.

There might be Californians comtemplating Nevada as they prepare their exit plans but I see Texas, especially Austin, as a much better choice.

I recently heard that 25% of California's millionaires have already vacated. California which is the eighth largest economy in the world really messed up, big time. There is some good news for them, I'm sending in taxes due when the time comes in April.

By Dave I.
03/01/2010 3:49AM

Hi bluejay,

You are concerned about Reno meltdown. You maybe right, but they still have another benefactor, being California and there over taxed population moving out of state to enjoy a freedom from California anti business and anti mining regulations.

By bluejay
02/28/2010 12:24AM

Emergency shipments of condoms headed to Winter Games. 100,000 were originally handed out to 7,000 athletes and officials in Vancouver prior to the Games by health officials.

With the world financially falling apart Gerald Celente said the new big trend will be in feeling good, so the condom shortage is not a surprise at the Winter Games in Vancouver.

Just recently bad news just keeps rolling in. We have been informed that the AIG's loss in bigger than expected and Fannie needs $15.3 billion more to stay afloat.

All this reminds me of Jim Black's book, "When Nations Die." If you have read the
book you know that there are many current parallels to past demises around the globe to indicate that our turn is next.

Gold is going to unimaginable heights for those willing to accept what is happening in front of their very eyes. Reno, as an example, is way ahead of the rest of the nation being in the midst of the first stage of a complete meltdown.

http://www.leaderu.com/common/nationsdie.html

http://www.cbc.ca/olympics/blogs/postblog/2010/02/emergency-shipment-of-condoms-headed-to-olympic-athletes.html

By bluejay
02/27/2010 11:20PM

What's next for California?

"California is a greater risk than Greece," warns JP Morgan chief.

It sounds like Jamie Dimon is talking his book of financial bets. You can safely wager that the vampire-squids in the likes of Morgan and Goldman Sachs are banking with their financially sourced seed money from the Fed and the public in profiting when California actually implodes. Looks like Jamie is trying start a stampede of Muni bond holders for his firm's profits.

http://www.telegraph.co.uk/finance/financetopics/financialcrisis/7326772/California-is-a-greater-risk-than-Greece-warns-JP-Morgan-chief.html

By bluejay
02/20/2010 1:14PM

Gerald Celente states that we need to think for ourselves.

In the below linked 2006 YouTube presentation it clearly demonstrates that we should ignore the majority of opinions from the talking heads on financial TV. In this presentation concerning the ideas of Peter Schiff, in minority opinion, he is shamefully attacked by some of these ignorant people who absolutely have little or no perspective concerning what is.

The financial prophet, Martin Armstrong - http://www.martinarmstrong.org - on November of 2009 stated a 78 year real estate bubble had burst in February of 2007 with little or no prospects for another long term rise to return until 2033.

The financial critics of Peter Schiff were laughing at his contention in this 2006 presentation that a real estate bust was on its way.

http://www.youtube.com/watch?v=zz_yw0kq3MM&NR=1

By Dave I.
02/17/2010 8:26PM

Wages are relative to cost of living for employees, The $19.45 hourly wages in the Bay Area were relative to wages of the early 1990's Today it is now $25.00 to $35.00 per hour for skilled labor. As for benefits, they can be almost the same amount as the wages, so doubling the wages I would think would be the hourly cost of an employee. This would also include management of the employee, training of the employee, retirement funding, social security, medical benefits, safety equipment, vacation time, sick leave, unemployment insurance, and disability insurance. These are all costs associated with an employee. Especially a union employee.

By bluejay
02/17/2010 7:39PM

The following was submitted to the Casey Dispatch and printed today in that daily report.

According to this report from the BLS, state and local government employers spent an average of $39.83 per hour worked ($26.24 for wages and $13.60 for benefits) for total employee compensation in September 2009. Total employer compensation costs for private-industry workers averaged $27.49 per hour ($19.45 for wages and $8.05 for benefits).

Translation: government employees make about 45% more on average than private-sector employees.

No wonder the States are in trouble, the hired help is making more money than the citizens that are still lucky enough to still have a job.

By Dave I.
02/17/2010 6:54PM

I ment to say in my last statement The argument to stop the state from enforcing the stop dredging law.

By Dave I.
02/17/2010 6:51PM

The 1872 mining law, for which you have been gifted a right to mine. This is the argument that is being considered in federal court to cause the law the State of California passed to stop dredging. A gifted right is protected by the 9th Amendment of the U.S. Constitution.
This same right should protect the 16 to One from interference from the state water board law suit. P.L.P. is representing this argument, based on a court action of another federal court in another state. The argument is written up in the "California Mining Journal". I recommend you get in touch with the P.L.P. about your case against this law suit.
You might want to get a venue change to a federal court as the action of the complaint is for federal land. Which is not a state jurisdiction.

By bluejay
02/17/2010 10:52AM

Addendum to the previous entry:

http://taxdollars.freedomblogging.com/2010/02/16/100000-pension-club-in-laguna-la-habra-los-al-schools/51793/?source=patrick.net

By bluejay
02/17/2010 10:51AM

Squeeze The People

My grandfather was a member of the L.A. County Planning Commission from the mid-30's until his demise in 1958. During his tenure he refused to take a salary and, of course, never took a pension. His conviction was that it was one's civic responsibility to contribe to society, not to profit by it.

Today, so-called civil servants have positioned themselves through the halls of power in government to bleed their constituents. This is becoming self evident as government revenues supporting these high paying positions and pensions continues to shrink with expanding economic decay.

Position salaries for the CEO's of the top three banks in China make $250,000 or so in yearly compensation. A big financial shake-up is coming our way as we have been living beyound our means for far too long. In the linked news newspaper report below check out the ballooned pensions that some of the southern California school districts have handed out.

The excessive forms of public employeee benefits is surely due to be reigned in with some realistice haircuts soon to be mandated as the bankrupt State of California along with many of its municipalities are running out of options to stop the bleeding.

The Water Board gestapo with their salaries in the excess of $100,000 is one obvious place to start yielding the axe.

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