AuthorTopic: Gold & Silver News  (Read 391327 times)

Offline RE

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Re: Gold & Silver News - 2300 oz. nugget discovered - B@@M
« Reply #2445 on: September 11, 2018, 04:00:53 PM »

 AN underground mine in WA's Goldfields has produced what its owner believes are two of the biggest gold specimens in recorded history in what has been described as a "once-in-a-lifetime" discovery.

Since last weekend, RNC Minerals has been tallying the bonanza haul from a single cut of rock blasted about 500m underground at the 45-year-old Beta Hunt gold mine near Kambalda, 600km east of Perth and 50km south of Kalgoorlie-Boulder.

The biggest of the stones came in at 90kg and is estimated by the company to contain about 2300 ounces of gold, a total that at current prices would be worth about $3.8 million.

https://www.gladstoneobserver.com.au/news/wa-driller-uncovers-behemoth-gold-nugget-possibly-/3517226/

How come you never come home with one of these?

RE
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Offline azozeo

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Re: Gold & Silver News - 2300 oz. nugget discovered - B@@M
« Reply #2446 on: September 11, 2018, 04:51:48 PM »

 AN underground mine in WA's Goldfields has produced what its owner believes are two of the biggest gold specimens in recorded history in what has been described as a "once-in-a-lifetime" discovery.

Since last weekend, RNC Minerals has been tallying the bonanza haul from a single cut of rock blasted about 500m underground at the 45-year-old Beta Hunt gold mine near Kambalda, 600km east of Perth and 50km south of Kalgoorlie-Boulder.

The biggest of the stones came in at 90kg and is estimated by the company to contain about 2300 ounces of gold, a total that at current prices would be worth about $3.8 million.

https://www.gladstoneobserver.com.au/news/wa-driller-uncovers-behemoth-gold-nugget-possibly-/3517226/

How come you never come home with one of these?

RE

Can you imagine the thud that whore made on re-entry to that ore cart down in the glory hole  :icon_sunny:
I know exactly what you mean. Let me tell you why youíre here. Youíre here because you know something. What you know you canít explain, but you feel it. Youíve felt it your entire life, that thereís something wrong with the world.
You donít know what it is but its there, like a splinter in your mind

Offline Eddie

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Re: Gold & Silver News - 2300 oz. nugget discovered - B@@M
« Reply #2447 on: September 11, 2018, 04:54:48 PM »

 AN underground mine in WA's Goldfields has produced what its owner believes are two of the biggest gold specimens in recorded history in what has been described as a "once-in-a-lifetime" discovery.

Since last weekend, RNC Minerals has been tallying the bonanza haul from a single cut of rock blasted about 500m underground at the 45-year-old Beta Hunt gold mine near Kambalda, 600km east of Perth and 50km south of Kalgoorlie-Boulder.

The biggest of the stones came in at 90kg and is estimated by the company to contain about 2300 ounces of gold, a total that at current prices would be worth about $3.8 million.

https://www.gladstoneobserver.com.au/news/wa-driller-uncovers-behemoth-gold-nugget-possibly-/3517226/

Shee-it.

We did see one guy up on Hatcher Pass with RE, who was panning for gold in the road cuts. Lots of water from the recent rains, running down and washing off the dirt and maybe exposing heavier stuff. It's not a high peak, and there is soil up there, not just rock.
What makes the desert beautiful is that somewhere it hides a well.

Offline azozeo

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Re: Gold & Silver News - 2300 oz. nugget discovered - B@@M
« Reply #2448 on: September 11, 2018, 05:10:01 PM »

 AN underground mine in WA's Goldfields has produced what its owner believes are two of the biggest gold specimens in recorded history in what has been described as a "once-in-a-lifetime" discovery.

Since last weekend, RNC Minerals has been tallying the bonanza haul from a single cut of rock blasted about 500m underground at the 45-year-old Beta Hunt gold mine near Kambalda, 600km east of Perth and 50km south of Kalgoorlie-Boulder.

The biggest of the stones came in at 90kg and is estimated by the company to contain about 2300 ounces of gold, a total that at current prices would be worth about $3.8 million.

https://www.gladstoneobserver.com.au/news/wa-driller-uncovers-behemoth-gold-nugget-possibly-/3517226/

Shee-it.

We did see one guy up on Hatcher Pass with RE, who was panning for gold in the road cuts. Lots of water from the recent rains, running down and washing off the dirt and maybe exposing heavier stuff. It's not a high peak, and there is soil up there, not just rock.

If he had worn equipment he was there for a reason....

If his stuff was shinny  :icon_sunny: he was a weekend warrior newbie.
I know exactly what you mean. Let me tell you why youíre here. Youíre here because you know something. What you know you canít explain, but you feel it. Youíve felt it your entire life, that thereís something wrong with the world.
You donít know what it is but its there, like a splinter in your mind

Offline Golden Oxen

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Re: Gold & Silver News - 2300 oz. nugget discovered - B@@M
« Reply #2449 on: September 11, 2018, 06:03:07 PM »

 AN underground mine in WA's Goldfields has produced what its owner believes are two of the biggest gold specimens in recorded history in what has been described as a "once-in-a-lifetime" discovery.

Since last weekend, RNC Minerals has been tallying the bonanza haul from a single cut of rock blasted about 500m underground at the 45-year-old Beta Hunt gold mine near Kambalda, 600km east of Perth and 50km south of Kalgoorlie-Boulder.

The biggest of the stones came in at 90kg and is estimated by the company to contain about 2300 ounces of gold, a total that at current prices would be worth about $3.8 million.

https://www.gladstoneobserver.com.au/news/wa-driller-uncovers-behemoth-gold-nugget-possibly-/3517226/

Reminds me of the Golden Nugget in Downtown Vegas and it's famous gold nugget display.

Spent hours looking at it. One of my favorite spots in Vegas, my kind of place.

                                 


                                   



                                   



                                   


                                     



                                       

Offline azozeo

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Re: Gold & Silver News - 2300 oz. nugget discovered - B@@M
« Reply #2450 on: September 11, 2018, 06:33:43 PM »

 AN underground mine in WA's Goldfields has produced what its owner believes are two of the biggest gold specimens in recorded history in what has been described as a "once-in-a-lifetime" discovery.

Since last weekend, RNC Minerals has been tallying the bonanza haul from a single cut of rock blasted about 500m underground at the 45-year-old Beta Hunt gold mine near Kambalda, 600km east of Perth and 50km south of Kalgoorlie-Boulder.

The biggest of the stones came in at 90kg and is estimated by the company to contain about 2300 ounces of gold, a total that at current prices would be worth about $3.8 million.

https://www.gladstoneobserver.com.au/news/wa-driller-uncovers-behemoth-gold-nugget-possibly-/3517226/

How come you never come home with one of these?

RE



You're lookin' at a pretty fat payday here amigo...


I know exactly what you mean. Let me tell you why youíre here. Youíre here because you know something. What you know you canít explain, but you feel it. Youíve felt it your entire life, that thereís something wrong with the world.
You donít know what it is but its there, like a splinter in your mind

Offline azozeo

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Re: Gold & Silver News - 2300 oz. nugget discovered - B@@M
« Reply #2451 on: September 11, 2018, 06:35:53 PM »

 AN underground mine in WA's Goldfields has produced what its owner believes are two of the biggest gold specimens in recorded history in what has been described as a "once-in-a-lifetime" discovery.

Since last weekend, RNC Minerals has been tallying the bonanza haul from a single cut of rock blasted about 500m underground at the 45-year-old Beta Hunt gold mine near Kambalda, 600km east of Perth and 50km south of Kalgoorlie-Boulder.

The biggest of the stones came in at 90kg and is estimated by the company to contain about 2300 ounces of gold, a total that at current prices would be worth about $3.8 million.

https://www.gladstoneobserver.com.au/news/wa-driller-uncovers-behemoth-gold-nugget-possibly-/3517226/

Reminds me of the Golden Nugget in Downtown Vegas and it's famous gold nugget display.

Spent hours looking at it. One of my favorite spots in Vegas, my kind of place.

                                 


                                   



                                   



                                   


                                     



                                       

A couple of nice pieces their Oxie.
I know exactly what you mean. Let me tell you why youíre here. Youíre here because you know something. What you know you canít explain, but you feel it. Youíve felt it your entire life, that thereís something wrong with the world.
You donít know what it is but its there, like a splinter in your mind

Offline Golden Oxen

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Re: Gold & Silver News
« Reply #2452 on: September 16, 2018, 08:13:14 PM »
I shouldn't get into these discussions, because I know you have unshakeable faith in gold.

Fine. I get that too.

I'm not trying to persuade you. I am trying to keep other, impressionable younger people from making a serious mistake, which would be placing too much trust in metals.

I happen to know that you made the bulk of your fortune in equities, not gold. Over my lifetime, and even more so over yours, equites outperformed every other asset class.

So....if the world were the same as it always was, the smart thing to do would be to buy stocks and hold them. But we know equites and most other asset classes are in a real bubble now. That much I think we can all agree on.

And when bubbles pop, equites overcorrect.. And when civilizations end, markets end too, and intangibles, like stock certificates, can turn into something you can use to start the evening fire in the fireplace and not much else. This can happen now over minutes or hours, or at best days, given our technology.

So....stocks just ain't what they used to be. The stock market keeps going up, but at some point, a huge correction is coming.

So, then....what are the alternatives?

Let's look at the logic of the meme you just posted. The dollar keeps getting worth less and less.

Very true. If you went to cash in 1913 stood pat for the last 105 years, you got hosed.

But people almost never, ever do that. (Maybe people who went through the Great Depression. My parents, for instance, never understood how inflation robbed them blind.)

But people with middling common sense and enough money to save and invest, have to decide what asset classes to hold, and how much to allocate.

And....that is different for different people........depending on your age, your level of surplus money, your risk tolerance, and other things.

And timing always matters. If I took  $1900 of my hard-earned fiat in 2013 or so, and bought one oz of gold, it'd be worth about 1200 today, a very material loss of 37% over five years.  37% of real buying power. The dollar hasn't lost nearly as much, over that short time horizon. Sorry you goldbugs. It's a fact, not my opinion.

That might not be a big deal if humans lived 500 years, but they don't. We accumulate wealth, us working people do anyway, to sustain our standard of living in our old age. We have a time horizon of a few decades.

Most people today in our culture work about 40 years. Given that it often takes a decade or so just to get to a point where one might have a surplus, then that leaves perhaps 30 years for an average working man to amass his wealth. Five years is 16% of that time.

So people can't really afford to hang in with gold, because it isn't unusual in these modern circumstances for gold to underperform other assets for several years.

But gold, like all tangible assets, is a store of value. It will always be worth something. It will never go to zero, like Enron stock. And in one unique circumstance (hyperinflation) it has a history of amazing performance.

That's happened in this country exactly never. It's never happened to a global reserve currency at all. Never,ever.

So, why is gold such am great asset, compared to other tangible assets?

As far as I can see, it has only one advantage. It's highly PORTABLE. No bank account needed.

But..... that has problems, because in order to move any substantial quantity of gold over any border these days, you have to break the law to do it. There are ways, of course. It's not a new problem. But it is very risky.

In our likely FutureWorld (say the next 50 years) what is the likely circumstance with money? I think you have to ask that question in order to parse out which assets to hold, and which to avoid.

I'd say that all consumable things will have to cost more, because cheap fossil fuel to make things at affordable cost and also to produce foodstuffs, are going away.

And fiat will continue to decline in value over the long haul...against gold, yes. But against everything else too.

Many assets other than gold are also in bubbles. Real estate is in a bubble, but nothing like stocks are. Some classes of real estate are doomed. Trump Tower properties will go to near zero and be torn down and sold for salvage. Nobody wants to carry water up forty flights of stairs to flush their gold plated toilet.

But cheap rent houses won't go out of style until the real die-off comes. People will always have to spend something to keep a roof over their heads. Until they absolutely cannot.

Likewise, good arable land in a climate cool enough to grow food will always be worth something...but the modern FF dependent heavily mechanized, GMO dependent methods will fail and fall into history.

I'm talking Doom Lite here, which is the style of doom to which you subscribe, according to what you've shared with me.

In Full Doom we're likely to be in a situation along the lines of Cormac McCarthy's "The Road". Bullets and bandits.

I expect Doom Lite for some time, to be followed eventually by Full Doom. So I prep for what comes first, but I also prep for what might come later.

We might (not saying we will)...but be MIGHT have Doom Lite for most of my kids lifetime. Your grandkid's lifetime.

If you have lots of wealth (and I know you do) then gold is okay. You can hold lots of gold and not worry. You have other investments. You make money in the markets nearly every week. I know that. You are nimble enough to make money in a down market. Because you're a good trader.

But you MADE your money as a buy and hold of assets that performed well in the past. And as we both know "Past performance is a not a guarantee of future results." Ever read that anywhere? LOL.

Buy and hold is now DOA. The stock and bond markets are cruising for a bruising. Good traders have their finger on the trigger at all times. People who have large portfolios of shares they've held for decades might not be wiped out, but they're going to take a haircut.

Tangible assets make more sense now. Metals are tangible assets. But regular working people like me, who might live another 30 years, can't afford to put too much into gold, because they need to use their money to make more money.

Some really good tangible assets are not good investments though. Oil and gasoline are tangible assets that are likely to come in handy...but diesel and gas don't have unlimited shelf life. And the markets for those assets are a roller coaster. I wouldn't mind having a full 1000 gallon propane tank though. That'd be a worthy prep. But here, solar PV seems to offer more bang for the buck, ultimately.

Gold is a tangible asset that has a place. Silver is probably better because it's seriously undervalued now.

There's always an arbitrage opportunity, if you can find it. You know this instinctively, and you've done better than 99% of the people I know, when it comes to being a financial winner.

But you shouldn't give people the idea that hoarding gold got you to where you are. It's very much the reverse of that. You can afford to hoard gold because you created a big surplus for yourself by investing. I feel like your gold rants might tend to make some younger people put the cart before the horse, so to speak. That's what bothers me about your gold rants.

You're a mentor to some people. Even me. You have a responsibility to be scrupulously honest if you want to write about money and assets.


You get absolutely zero about me. Anyone who would put his faith in an inanimate metal coming out of the earth is a fool. Faith is something you place in people, close friends loved ones or your god. You have it backwards as usual. You can have faith that is positive in friends, loved ones, and special friends and faith that is negative for most others.

 I have complete faith that power corrupts, that men in power will always do what history teaches us, steal, rob and pilfer from the weak and dim through inflation, usury, and the kind of bankster tactics we see today with the government and monopolists as partners in garnering the wealth for themselves. It is also my unshakeable belief that those not in power will lie, cheat, steal on their taxes, like you did, at every opportunity to keep as much of the pie as possible for themselves. That is namely human nature that my negative faith is placed in.

If your concern is for the children that might be listening to me your goodness, kindly address them in your commentary in the future and not me. Don't pretend to be my friend and suggest we get together.

You know nothing of where the bulk of my wealth was made or my asset mixture and weighting. You assume through tidbits of information provided by me in an effort to build a sort of friendship and comradery here at the diner, as others do here in providing intimate glimpses into their life, always a mistake on my part when I go against my faith in human nature to be negative from original sin.

The next headlined statement of yours, the only one that is correct by the way is the reason one should buy gold. Those who held the cash effectively lost all their purchasing power, a real hosing as you say.

You then counsel me not to leave impressions to others that hoarding gold made me rich.  That is something that you assumed and what people assume from my commentary, is their doing, not mine, no matter how twisted or contorted their assumptions might be. It has always been my practice to counsel often that "Assumption was the Mother of all Fuckups". Believe it, it's true.

The other myriad of scrambled pieces that you bring up such as the only thing you see positive about gold is it's portability and conjectures about this or that or what is cheap and expensive are too numerous and absurd for me to comment on here except to say I view them as excess verbiage to disguise what is a vicious attack on me and my character by you.

Your last and most hideous assault was to characterize me as a liar, a deceiver and corrupter of the youth.

Once I got over my initial pride at the remark, the same one made at Socrates by the dim, evil, and men in power who wished to silence him, my pride soon turned to laughter to think this famous play was being reenacted unknown by the accuser.

In this case it was the big fish actor, in the very small pond or puddle if you wish, looking out at the vast ocean and seeing Moby Dick.  Not to worry accuser, your little pond of perch, frogs, and sunfish will never ever hold me.


                                 






 

Offline RE

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Re: Gold & Silver News
« Reply #2453 on: September 17, 2018, 01:37:51 AM »
You get absolutely zero about me.

That is precisely your problem GO, and why you have no credibility.  Eddie has credibility, we know what he does for a living and how he invests his money.  He's a real person, you are an internet troll.  You have never said how you got so rich or what you did for a living riding on the MTA to downtown Beantown for 50 years.  You have a ridiculous villain from a James Bond movie as your avatar, and you put up pictures of a stamp collection and coin collection which easily could have been lifted off the internet.  You don't publish original material, the closest you get to original is copy/pasting the material of some other Gold Bug like Antal Fekete.  You're not honest, you're not forthright and you hang out on this website just to disrupt it.    Why would anyone believe anything you say?  There's nothing to back it up.  Like Moriarty, you hide behind a cloak of anonymity and pretend to be an expert, but you are even less credible than he was.  He at least ocassionally produced something original which showed he had some knowledge of the energy industry.  You produce absolutely ZERO.  To me, you seem completely fictitious and I would never give any credibility to anything you keyboard out, or even copy/paste.

RE
« Last Edit: September 17, 2018, 02:18:48 AM by RE »
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Offline Golden Oxen

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Re: Gold & Silver News
« Reply #2454 on: September 17, 2018, 02:52:36 AM »
Your dislike like of me is well known, it's really a shame in my view that you hate someone so much for being different than you. My interest and multi year dedication to posting on the Diner is another reason your hate is so dismaying to me. No problem, being a gold bug makes one used to disparagement and dislike from folks who are not tolerant of others ideas

As to these postings, they were not made by me yesterday. They are old postings and obviously the result of some sort of software glitch. I am under moderation as usual and could not have made the postings on the NYTimes thread or the other. Same thing happened a while ago when a bunch of old postings of Karpatok and some others popped up.

I saw them last night on my Ipad when glancing in and assumed you would see it was a glitch.

Was about to issue a disclaimer when I saw your attack on me.                     Regards, GO


Offline RE

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Re: Gold & Silver News
« Reply #2455 on: September 17, 2018, 03:34:52 AM »
Was about to issue a disclaimer when I saw your attack on me.

So what did you do for a living to make your millions?  How did you invest the money over the last 50 years to get so rich?  Inquiring Diners want to know.

RE
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Offline Golden Oxen

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Re: Gold & Silver News
« Reply #2456 on: September 17, 2018, 04:17:52 AM »
Was about to issue a disclaimer when I saw your attack on me.

So what did you do for a living to make your millions?  How did you invest the money over the last 50 years to get so rich?  Inquiring Diners want to know.

RE

I already gave an intimate glance at my success in investing, you weren't paying attention.

Eddie will be able to fill you in. He was listening intently.

Since you opened the door I will walk in with another proud measure of my success. This one was widely pointed out by me on the Diner. I discussed and pointed out many times to Eddie, Canopy Growth so it is not what you can call a made up story.

GO scores another 10 bagger. Told everyone on the Diner about this one ahead of time and how it would be the Blue Chip of the pot industry.

It sounds easy but it isn't. Spent over two solid months researching this industry, thousands of hours of tedious research. Not exactly laying bricks, don't get me wrong, but it's work and difficult.

Combined with a large measure of luck and strong will of my convictions in not being spooked out by it's many vicious declines, a major score has been accomplished. The amount as well as my bank account I wish to keep confidential, so while I will not prove the amount let me assure you it was substantial.

I also choose to operate on the internet under the name of Golden Oxen, a common practice which I make no apology for.

As for Auric Goldfinger, since both you and Bot Blogger voiced your dislike, I have tempered my use of the figure dramatically; again you aren't paying attention. Unlike you, I can accept just criticism and adjust my postings if criticism is warranted. Auric will only appear occasionally compared to my prior usage of my favorite movie character.


                             
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Offline RE

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Re: Gold & Silver News
« Reply #2457 on: September 17, 2018, 04:25:21 AM »
So what did you do for a living to make your millions?  How did you invest the money over the last 50 years to get so rich?  Inquiring Diners want to know.

Add to that how much is your net worth?

RE
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Offline Surly1

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Re: Gold & Silver News
« Reply #2458 on: September 17, 2018, 04:27:34 AM »
So what did you do for a living to make your millions?  How did you invest the money over the last 50 years to get so rich?  Inquiring Diners want to know.

Add to that how much is your net worth?

RE

And how is that ANY of your fucking business?

I wouldn't tell you my net worth. Although the number would probably make you giggle.
"It is difficult to write a paradiso when all the superficial indications are that you ought to write an apocalypse." -Ezra Pound

Offline RE

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Re: Gold & Silver News
« Reply #2459 on: September 17, 2018, 04:38:10 AM »
So what did you do for a living to make your millions?  How did you invest the money over the last 50 years to get so rich?  Inquiring Diners want to know.

Add to that how much is your net worth?

RE

And how is that ANY of your fucking business?

I wouldn't tell you my net worth. Although the number would probably make you giggle.

YOU do not pretend to be a Financial Expert.  I could give a shit how much you are worth.  GO on the other hand presents himself as a Financial Genius, much like Moriarty presented himself as an Energy Genius.  I demanded that Moriarty Put Up or Shut up with his "papers", and he never did.  I am making the same demand of GO now.  If he wants some respect and not be a figure of ridicule, he has to show his credentials.  I don't buy his shit, it all seems fictitious.  So I put the hammer down.  If he won't put up his credentials, I will continue to ridicule him as a troll.

RE
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