“Buy China’s secret silver stock before it doubles”

Silver teaser from Nicholas Vardy's Global Bull Market Alert

By Travis Johnson, Stock Gumshoe, January 19, 2011

Since there was such a spirited discussion following our look at the “treasure map” of hoarders who can sell you bags of “treasure”, this latest teaser from Nicholas Vardy also caught my eye.

Why? Well, because that “treasure map” bit was all about junk silver (old circulating silver currency), and the discussion was largely of the “hell in a handbasket” variety that we’ve also seen most aggressively from Porter Stansberry most recently with his “End of America” pitch about protecting yourself from hyperinflation, higher taxes, and dollar devaluation. And much of that relates to China, as the largest foreign holders of US debt and now our perceived rival for economic leadership, particularly with the recent baby steps toward making the Yuan an actual global currency.

So the little synapses in your Gumshoe’s brain jumped all over this — if silver is a hot topic, and China is a hot topic, wouldn’t the great Gumshoe Nation wish to hear about Chinese silver? Well, wish it or not, here it comes.

The pitch is that this stock has already gone gangbusters but isn’t about to stop:

“Why this stealth China stock tripled in 2009, doubled again in the last six months, and is poised to double again by Valentine’s Day”

And there’s nothing I like more than a stock that’s supposed to go crazy within a nice, short period of time — because then I have at least a small chance of remembering to check back in a month and see what happened, even if I never own the stock.

Plus, it’s just more fun — and more ridiculous — to promise a double within a month. Though, to be fair, it looks like Vardy has probably been pushing this idea for a little while — the teaser email that I’m looking at now was sent and received just this past weekend, but the text of the ad actually says that you have to get in “before December ends.”

(So perhaps he means next December so we have almost a year to think it over, and that it’s Valentine’s Day 2012 that will bring our “double?” Yeah, I don’t think so either, more likely just an overworked marketer forgot to update the dates in the ad.)

OK, so who is this “stealth China stock” that, we presume, should be doubling any minute now? Well, you can go subscribe to Vardy’s Global Bull Market Alert ($995) if you want the answer from the horse’s mouth … but I reckon we can give it to you for free if you prefer, you’ll just have to sit through a few more paragraphs of Gumshoe blather. Here’s some more from Vardy:

“If you’re ready to move fast, this silver mining stock can make your portfolio balloon to twice its size in the next two months. Just think of how your new year would look with a recently fattened wallet, stuffed with double your money!”

Oh, so there we go — so the text was written back in December and they’re just recirculating it, and we’re still expecting that double by February 14. I don’t want to spoil the surprise, but I can tell you that right now this pick is actually down about 15% since mid-December — so we’ll be generous and let Vardy get his double from now instead of from then, shall we? Never let it be said that we failed to be understanding about poorly timed investments, since we (OK, I mean “I”) make them with some regularity.

Here are the details about our silver miner, in Vardy’s words:

“You’ve heard of cheap Chinese labor, right? Well, this company does that one better. In the quarter ended June 30, 2010, this ‘China miracle’ company produced 1.4 million ounces of silver at a cash cost of negative $6.31 per ounce!

“Its ‘Overseas Chinese’ management just inked a joint venture to acquire 70% equity interest in the high-profit Yunxiang Mining Co. Ltd., a private company in China’s Hunan Province… a deal that will boost their bottom line skyward!

“January and February are traditionally strong markets for silver. But this stock will likely leave other silver stocks in the dust. It’s 5-year net profit margin has been 41.38%, compared to an industry average of just 1.09%.”

Vardy also uses many of the standard arguments for silver that we hear over and over again — he mentions that the silver-to-gold ratio is historically high (it’s about 47 right now), and implies that he thinks it will revert to the historical average of around 15/1. We hear that a lot, though do note that those low historic ratios that we often see (12/1, 15/1, etc. — meaning it takes 15 ounces of silver to buy an ounce of gold) are very historical, they include the centuries when silver and gold were essentially strapped together at almost monetary rates of exchange, and when one or the other backed most currencies (or were most currencies, since most currency was coinage).

Over the last 100+ years the silver/gold ratio has rarely dipped below 30, and for fairly brief periods of time, and has as often spiked to over 75, coming close to 100 a couple times. So be careful about your confidence that something will return to a long-term mean, if you’re talking about several thousand years of a 15/1 average ratio it could easily go to 200/1 before we’re all dead and still end up averaging 15/1 on these kinds of historic (almost prehistoric) charts. That’s not to say that silver is a bad investment, or that there aren’t other reasons why it might continue to outpace gold, as it has for the past decade and more recently, but to a non-expert like me that particular ratio of silver to gold prices doesn’t seem all that predictive in the short term (like, less than 50-100 years).

And yes, he also mentions the silver shortages that are often teased by investment newsletters — though it should be noted that although industrial demand is certainly a key driver of silver (and not gold), the main reason for these perceived “shortages” of coins is huge spikes in investor demand. You’ll see stories about the US mint running out of silver, for example, but that just means they’re not producing silver collectible coins to sell direct to collectors — they’re still buying up tons of silver and producing plenty of bullion coins that are sold through banks and dealers. (That’s a side-effect of the mint’s Congressional mandate: they’re required to produce bullion coins in sufficient quantity to meet demand, they are not required to produce collectible coins, so when investor demand spikes they have to turn over their production to bullion coins).

Demand for silver has certainly been rising, all you have to do is look at the price to see that, but since so much of it is investor demand it’s sometimes perceived to be less steadfast — swings in investor sentiment can be much faster than swings in the actual economy that might impact demand for silver for electronics, for example.

To be clear, I own silver personally and think it is a useful part of any portfolio, largely as a hedge to maintain purchasing power. I just like to throw out the other arguments since they’re not often a part of the teaser ads or newsletter soliloquizing.

But what you want is the name of this stock, right? Well, it will probably sound familiar to some of you — it’s been a favorite of a few newsletter guys for the past couple years, this is Silvercorp Metals (SVM).

And yes, Silvercorp is the biggest primary silver miner in China, though as with most silver mines there are significant secondary metals as well — in their case it’s mostly lead and zinc, which produce enough revenue for the mine that when they talk about their cost to produce silver it comes out negative after crediting for those “byproducts.” Vardy teases that they produced 1.4 million ounces at a cash cost of negative $6.31, and I can confirm that this basic performance level is continuing — in the quarter after that (the September quarter of last year, their second quarter) they report that they produced 1.34 million ounces at a cash surplus of $6.30 per ounce.

So it’s hard to argue with the combination of significant byproduct revenue and generally low operating costs in China, though it’s not all that unusual for silver miners to also depend substantially on copper, zinc, lead or nickel prices to subsidize their operations (which is part of why silver production falls sometimes when base metal prices fall — if nickel miners have to shut in production because demand drops, for example, the byproduct silver that they generated disappears from the market). But yes, Silvercorp is a special case in terms of the cash cost per ounce.

They’re also trying to expand and diversify away from their primary mining area, they are currently producing from four mines at the Ying Mining Camp in Henan Province, where they also continue to drill for more reserves, but are trying to develop mines in Hunan and Guangdong as well, and they’re also trying to diversify outside China and develop a mine in northern British Columbia.

The company is technically Canadian, though the Chinese operations are held in Chinese subsidiaries that they control (generally about 70% owned by SVM) but that are partnered with Chinese companies or quasi-governmental entities, so they do report reserves and resources and production data that will look familiar if you’re used to analyzing Vancouver mining companies — you can see their reserves numbers here if you like.

As a business, SVM generates numbers that look substantially better than some similarly sized non-Chinese peers like Coeur d’Alene (CDE) or Hecla Mining (HL), with particularly much better margins thanks to their low cost operations — but it’s also priced at a premium for the same reason. I wouldn’t argue against SVM and it has certainly been a spectacular performer, though I have no reason to think it will be over $20 in a month as Vardy teases.

And as I noted, several other newsletters have pitched SVM in the past, notably Matt Badiali about a year and a half ago (the stock has tripled since then) and, in an extremely aggressive and long-lived push, as the “silver under the great wall” stock teased by Sound Profits that began almost exactly a year ago (up about 60% since then). It’s an easy stock to pitch during a precious metals bull market, with the China connection and their low cash costs, so I’m sure there have been many others on board this train as well.

I don’t currently own these shares (or any other stock mentioned above, though as I noted I do own silver bullion), but I know many of the readers in the great Gumshoe Universe have been Silvercorp buyers in the past — are you still holding on? Expect a double from here? Or are the days of phenomenal growth behind them? Let us know what you think with a comment below.

We do not have any subscriber reviews for Vardy’s Global Bull Market Alert yet, so if you’ve ever subscribed I’m sure your fellow investors would like to hear your thoughts — just click here to review it for us today.


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57 Comments on "“Buy China’s secret silver stock before it doubles”"

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Evan
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Evan
January 19, 2011 2:47 pm

I'm a big believer in this company, it's doubled since I've owned it and I have no intention of selling, since if they can keep negative cash costs while increasing production they should continue to outperform.

eanmdphd
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eanmdphd
January 19, 2011 2:57 pm

"Since I've owned it" is not a useful parameter….a date would be useful. Thanks.

Dlst
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Dlst
January 19, 2011 3:19 pm

>>If you’re ready to move fast, this silver mining stock can make your portfolio balloon to twice its size in the next two months.<<

Well, if you sold everything else and then invested 100% of your portfolio in the one stock, perhaps, but no one in their right mind is going to do that. If that's the sort of advice they dispense for $995/yr, I can state categorically that I WILL NEVER SUBSCRIBE TO THEIR NEWSLETTER. To be honest, I wouldn't anyway, but this clinches it.

hedy1234
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hedy1234
January 19, 2011 3:28 pm

I owned it for about a year. It had a great run and I sold it this recent PM downturn along with some others that had done very well for me.

terencio
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terencio
January 19, 2011 3:33 pm

I bought SVM 10/12/2009 for $7 and have seen it double and slip back to where it is now $10+

RC22
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RC22
January 19, 2011 4:35 pm

I lucked in to SVM back in Dec 08 for under $2. Needless to say, it's one of my current favorites. I'm starting to think about getting out of it though, as I am questioning how much more it will run.

Myron Martin
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Myron Martin
January 19, 2011 4:41 pm
If every stock I have owned for the past 3 years did as well as Silvercorp I would already be a millionaire. Or perhaps I should say, if I had split my inheritance between Silvercorp and Jinshan its Chinese gold cousin, and just sat on them, I would be set for life. As usual Travis presents a reasonably balanced picture. I say that because there are "traditionalists" out there who are constantly bad mouthing gold and silver because they do not pay dividends or pay interest, but then what fixed income investments today pays an interest rate that exceeds the… Read more »
Tom Freund
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Tom Freund
January 19, 2011 6:01 pm

I'm with you, Myron.

GlobalMkt

Adrian
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Adrian
January 19, 2011 6:40 pm
Excellent post Myron. Talking of inflation I noted this week that here in the UK our annual inflation rate of 3.7% is now higher than that of Zimbabwe, which went down to 3.2%. However, on this news the Pound actually went up! Go figure. Glad I've got my gold and silver. Back on topic, I had a fantastic ride out of Silvercorp from 2004 (when it was called SKN resources) riding it all the way from under 50c to $20 (before they did a 3:1 split). I held some of the position through thick and thin but finally dumped the… Read more »
Iikka K
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Iikka K
January 19, 2011 7:01 pm
Myron: That's odd, I never noticed the price of all goods nearly doubling over the last year. It must be that I'm eating fiat food, wearing fiat clothes, living in a fiat apartment heated by fiat natural gas and powered by fiat electricity. Frankly, in real terms of purchasing power the dollar may have lost a couple of percent while silver has gained 70%. This makes silver a great speculative investment (if you got in a year or two ago), but it's in no way behaving like an inflation hedge. Even according to your own numbers silver price has gone… Read more »
eanmdphd
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eanmdphd
January 19, 2011 7:29 pm

Reference inflation: More than a decade ago, when inflation was rather low, I thought otherwise. I thought there was a unique set of products that had very high inflation, especially relative to the 2-3% inflation people were citing. Think about it… what were those products?

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eanmdphd
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eanmdphd
January 19, 2011 7:30 pm

The products that came to mind for me were
health insurance
college education
funeral costs

Now these have one interesting thing in common….

eanmdphd
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eanmdphd
January 19, 2011 7:36 pm
What did the inflationary products have in common? FOR the most part, people purchased just one of them: one health insurance one college education (though it could be continuous, as in my own case for quite a few years — tho scholarships helped) one funeral. Most other products, people buy more than one of them: cars — more than one per family is frequent (consider all the rental cars out there… someone is buying them) houses — sometimes more than one per family (and consider the investment properties) certainly we all have more shoes, phones, TV's than we had in… Read more »
shredder
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shredder
January 19, 2011 8:10 pm

SVW does pay a dividend….very unusual for jr resource stocks.
I've owned it inn the past, might be time to look at buying it again
SVM is also optionable….sweet

cynic
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cynic
January 19, 2011 8:55 pm
SVM is one of my most important core holdings .It comes recommended by many precious metal stock newsletters,and for good reason. One of my newsletter experts says SVM will become the next Silver Wheaton. As a core holding I look to buy more at significant dips, like the one thats ongoing at 10 dollars a share,looking for it to fall to 9 and I'll add another tranche. The problem with these newsletter promo pitches,as always, the hard sell hits the public forum usually at a time when the stock is in danger of falling, I think they time it that… Read more »
Malcolm
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Malcolm
January 19, 2011 10:49 pm
Wynn – "Confiscation" is the right winger word to describe Obama's effort, in a business-friendly way, to arrange medical expense care insurance for almost all of the 40 to 50 million Americans without health insurance. Of all advanced nations, we have by far the greatest percentage of folks depending on nothing by prayer to keep them from medical expense forced bankruptcy. Whatever you think of prayer, this is not the best of financial planning. Meanwhile, those with plenty of money beat their chests, claiming that the US has the best medical care system, and screaming for Obama to keep his… Read more »
eanmdphd
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eanmdphd
January 19, 2011 11:02 pm

What did the inflationary products have in common?

They were all products that are purchased just once (or one at time) in a life time. One education, one health care, one funeral.

Richard Stone
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Richard Stone
January 19, 2011 11:07 pm

I like gold , I like silver … they are both pretty and I can sit and hold them while watching our North American governments slip into the financial abyss on the news !

blackjack
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blackjack
January 19, 2011 11:38 pm

have a look at other mines around the world as well
if theyre mining silver then they should go up as well

Peaceful Warrior
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Peaceful Warrior
January 20, 2011 12:10 am

SLX (Silvermex) is bound to have it's run soon. After merging with Genco Resources later last year, it currently has the best board of any silver junior with both production and exploration experience.

Completed a financing back in December 2010 and will be using the $$$ to put their La Guitarra mine in full production and generate cash flow. It is already producing 200 tones/day, with a very low cost given the proven reserves available since the Aztech times.

Here's a valuation: http://tinyurl.com/6lfpvhd

Stan
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Stan
January 20, 2011 12:16 am

Yes, I like SVM and have some long call options on it, but it's in a downtrend now, so I'm looking to hedge with some long puts to profit a little from the down turn.

Royalroi
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Royalroi
January 20, 2011 2:08 am

Being a near virgin to personal trading ,I find the diversity of opinion stated in a non-aggressive manner to be entertaining,enlightening and educational.Thanks

CarlB33
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CarlB33
January 20, 2011 9:26 am

I am a disabled Vet who is on a semi-fixed income. I am looking to change that within the next year or so. I would like to know, what are some good precious metal companies to buy into? Also does anyone know how to go about buying gold and siver, if so please share if you are willing. Thank You for your time.

K.E.
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K.E.
January 21, 2011 9:02 am

SVM lost $50 mio in FYE 2009 due to impairment charges. Why did SVM stop operations when silver prices dropped?

hedy1234
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hedy1234
January 21, 2011 12:31 pm

We need to be careful to distiingush hold the precious metals and holding the miners. The PMs are an infiinite buy and hold, the miners are stocks that should have buy and sell points just like any other stock. This discipline is critical particularly as we go through corrections like we are having now. Sell or hedge.

Malcolm
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Malcolm
January 22, 2011 12:32 pm
Mary Mohanan – It was this aspect of Wynn's rant about confiscation to which I was responding "Confiscation is already written into the health care bill. Yes, the health care bill. Do people really think the health care bill is about healthcare? It is about the outright destruction of the first amendment, written by a government aide. If the government tells you you MUST, under penalty of law, purchase something, then they can tell you which school you must send your children to, or which auto you must buy, or which brand of toilet paper you must purchase. The initial… Read more »
Boneafide
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Boneafide
January 26, 2011 12:32 pm
SVM has had its big run since the time I bought it for a couple of bucks when it was called SKN until I sold some near $18 a few years later. Then I saw the profits melt as I watched the price all the way down to under $8 before bailing. Its an old story. Worthy candidates for the future could be: 1. Southern Silver (SSV) $0.25, an explorer joint ventured with a major producer and enjoying heavy insider buying at current stock price. 2. Aurcana (AUN) $0.62, a producer shooting for a six-fold increase in production. I own… Read more »
The Old Fashioned Way
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The Old Fashioned Way
January 28, 2011 11:02 am

Comment to Myron,
One of your best posts ever! Your post is right on the money (pun intended).
Comment to Travis,
When you are on vacation, consider having Myron fill in for you as a guest commentator.

james moylan
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January 28, 2011 12:30 pm

I have a web site where I research stocks under five dollars. I would prefered to buy silver mining stocks in areas other than china the royalities for the metal claimed by a government like china could become very unfavorable that is american or other mining companies that do business their.

spreadtrader
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spreadtrader
January 29, 2011 9:53 pm

So what's the website and what other mining stocks are you interested in?

AdamSmith37
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AdamSmith37
February 16, 2011 1:47 am
The reason that gold was confiscated during the early 1930's had to do with the fact that our currency was on the Gold Standard which allowed anyone to exchange paper currency for gold if they chose to. Since a lot of paper currency was systematically being acquired in large amounts by mostly foreign interests, the decision was made to stop the flow of gold out of the country. There really exists no comparable reasons today for a repeat of this based on the old rationale. However, as previously stated by many other posters here, a dictatorial leadership appears to be… Read more »
Sachin Tailor
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December 15, 2011 1:34 am

Just bought Silvercorp for 6.03 $ during the sudden and deep silver dip. I am sure silver goes up again soon. What makes me so confident is that lots of people could not deliver shares of ZSL for 73 days and AGQ for 2 days when short selling them. These guys were hit hard by the market manipulation and the lack of a clear trend.
Sometimes it pays just to wait…

maxie369
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maxie369
July 28, 2012 11:14 am

SVM is cuRrently around 6 bucks a share. It was as low as 5. If the Fed does not come thru with QE something then SVM will go back to 5. How’d that work out for all of you that bought at 10 , 8 , and for that matter 6…….

David O.o
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David O.o
January 19, 2011 4:49 pm

Everything was down as low as it goes in 2009.

I think the big question is what kind of growth can you expect if you jump in now?

cynic
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cynic
January 19, 2011 9:07 pm

yes, and from here maybe even down to 9 and then in the coming seasons you will see it soaring to 20 and 30 ,like Silver wheaton is doing.
If you are following the gold and precious metal and mining sector, and following the currency crisis,and the global economic fraud crisis, and the emerging China empire evolving, isnt it a good idea to be invested in the most important china silver miner? as we also watch 1 billion chinese trying to buy silver pandas.
talk about a no brainer.

cynic
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cynic
January 19, 2011 9:00 pm
Well, being familiar with the chart as I watch it daily…yes, the current price zone at 10 dollars is a buy /support zone, but also 9 dollars is the next zone down. the current correction from the top has come down alot but it might only be the first wave down (A) and after a correcting rally back up a little (B) could yield the next leg down (C) which is what I look for to see SVM available for 9 dollars . buying SVM at 9 dollars a share is incredibly better than buying it at 14.
sid
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sid
January 19, 2011 9:03 pm

Amen.bruther

wynn
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wynn
January 19, 2011 9:05 pm
You make your points very well——-Except you forget that all governments when pushed to the wall will proclaim a "national emergency" . Yep, they will confiscate your gold, and maybe even silver. Forget about manipulated markets. The real danger to your wealth is the country you live in which restricts your freedoms to preserve your wealth. Confiscation is already written into the health care bill. Yes, the health care bill. Do people really think the health care bill is about healthcare? It is about the outright destruction of the first amendment, written by a government aide. If the government tells… Read more »
AdamSmith37
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AdamSmith37
February 16, 2011 2:37 am

This is an excellent and well thought out summary!!!!! KUDO's…..to you!

cynic
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cynic
January 19, 2011 9:14 pm

Somebody with the same frame of mind, one day in the past, had bought SLW at 2 dollars.and if he had sold Silver Wheaton last year when it was correcting from 20 down to 13 and floating around 14….sold it …..and then watched it soar to 42…..Boy…I'm glad I dont have that frame of mind.

tom
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tom
January 19, 2011 9:27 pm

yes.
Well said,Myron.
Exactly right on.

jack ahse
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jack ahse
January 19, 2011 9:36 pm
Stupid comment. If you shopped at Trader Joe's , you would know that the price of many things Has in fact doubled in the last 12 to 24 months. Maple syrup,olive oil, nuts,trail mix, chocolate,cheese, etc etc etc etc etc How about your pint of Haagen daz…oh wait its no longer a pint. its a smaller container and the price is twice what it was 4 years ago. oh yes, Fiat clothes….. a 3 pack of gold toe socks at TJ Max used to be about 5.99….now its 14.99. Ive watched cost of food closely in the last few years.… Read more »
mtguy
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mtguy
January 20, 2011 4:38 pm

Jack's right. Likka, sorry, but that was an ignorant comment. During 2010, cotton futures up 91%, soybeans +34%… Need I continue? Ok, rice was down in price and demand. Dollar down a couple of percent? That's so stupid I won't give you the answers. maybe you'll learn something if you have to actually look up the data yourself!

Iikka K
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Iikka K
January 20, 2011 5:40 pm

This is not my experience, nor is it corroborated by the data:
http://www.bls.gov/news.release/cpi.nr0.htm

I know my expenses have not changed measurably in the last year. If anything, clothes seem to be perpetually on sale these days and my utility bills are down. (Significantly so compared to the boom times of 2006-2007)

Destry
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Destry
January 21, 2011 11:39 am
Carl What you're hearing from these folks is pretty good info…For you, you might take a peek at Gabelli, (GGN). Hunt down the holdings, and see what you think. I've owned a few of the silver companies…Silver Wheaton is a long term core holding; Pretty much a royalty trust….Nothing wrong with Silver Corp. I've decided I like the silver mines etf (SIL)……It's main holdings are all my favorites. Most I've owned, at one time or another. Had a great uncle, by marriage; Who was a 15-year old messenger rider for the Fresnillo silver mines, down in Mexico….Apaches ran him off… Read more »
Mark
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Mark
January 21, 2011 3:42 pm
Paramount Gold and Silver (PZG) – target price around $12 or $13 (now a bargain at $3.18) – had incredible drilling success in Dec and will continue drilling until it's bought out Silvermex (SLX.TO) – huge reserves; great mgmt; ramping up production Seabridge (SA) – now at under $28 – most ounces per share of any company I know – target price around $86 (based on recent buyout figures) or even $200 by some Kaminak Gold (TSX V: KAM) – trying to prove that their Kona and Latte zones are connected – if true, the stock will go up 300%… Read more »
AdamSmith37
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AdamSmith37
February 16, 2011 2:28 am
Lots of good info on the blog comments here. I too am a disabled Vet but after 40 years have given up the battle with the VA, but that is another topic for another day. One investment you may want to check out is GDXJ which is an ETF that covers primarily junior miners and I believe they also pay a decent dividend. Since I pretty much got wiped out during the '08-'09 fiasco, I do not own this or others but have been following many for some time. An up and coming gold stock to watch is NAK which… Read more »
Mary Mohanan
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Mary Mohanan
January 21, 2011 2:45 pm
I'll add to that list the flourescent lightbulb controversy. They contain mercury and we will be forced to buy them. You practically need a hazmat team to clean up broken builbs….and we did have a broken bulb. You aren't supposed to vacuum up the glass – it broke over a berber carpet. Try sweeping that up with a whisk broom. Mercury gas in the air and in peoples mouths from fillings. Stock up on incandescents now. My children are going through chealtion right now to get rid of heavy metals from breathing ceramic log fireplace fumes, leeching made-in-China tea kettle… Read more »
olivan leach
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olivan leach
January 22, 2011 3:14 pm

Just makes me wonder why people are up in the air over the new health care bill because it says the gov. will make you by insurance. Yet not one word was spoken about the gov. making us buy car insurance to cover the other driver.Yes you heard me the other guy gets covered with the car insurance and we sat and never say word one.The health insurance co's sure have us brain washed as well as the reb. party bought off.

Mary Mohanan
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Mary Mohanan
January 21, 2011 2:57 pm

Malcolm , So if I'd like to keep more of my hard-earned money for me and my children and grandchildren, I am selfish??? "Confiscation" is not a right winger term. The government did 'confiscate' gold during WWII. AND under threat of jail. Most people complied. They were reimbursed at $22 an ounce or some set amount, then the government announced shortly after that gold is now worth $34. Think it won't happen again?? Get ready.

Ken
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Ken
January 30, 2011 8:37 pm

Malcolm,
I'm broke. Can you give me $1000 please?

brad
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brad
February 15, 2011 2:25 am
There are ways to solves this healthcare crisis without having the government get involved and mandating everybody to buy health insurance. Why is government the only answer? If this new healthcare legislation is so good then why is congress and the president exempt from the same garbage plans they're trying to force us to buy? Why did Odrama sign waivers for over 900 of his buddy corporations and unions to be exempt from this bill? Additionally, how can a law apply to some people and not others? Healthcare is NOT A RIGHT, and it is not a right defined in… Read more »
AdamSmith37
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AdamSmith37
February 16, 2011 3:05 am
These fruitcakes threw everything but the kitchen sink into another 2000 page plus document that had to be voted on and approved, prior to anyone being able to read it — If that doesn't raise any red flags, then maybe people deserve to sit back and watch this fine nation be taken over. If health care is the issue then it could well have been fixed without including such requirements as forcing people to buy who may not be able to afford food, much less health insurance. Apparently you are willing to sit back and watch our youth be hauled… Read more »
brad
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brad
February 15, 2011 2:07 am
Completely different. Driving is a privilige and driving can do major damage to property. You don't have to own a car, if you choose to, then you should have it insured. In addition, if the healthcare legislation is so wonderful how come congress is exempt from having to purchase the same insurance as the rest of us? Oh…because they have their own gold parachute healthcare. Oh, and Odrama also exempted his buddy corporations and unions (some 900 so far) from having to comply with the new law. How can you pass a law and only have it apply to SOME… Read more »
brad
Guest
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brad
February 15, 2011 2:25 am

Your 40-50 million people without health insurance number is a fraud too. Where did you get this number? This is a highly inflated number first of all and if you take out all of the illegals and people that CAN afford health insurance but simply CHOOSE not to, then you're really looking at about 10 million people. Most of those would go on to Medicaid under the new system anyway because of income. So take your progressive, liberal, Odrama-lovin, CNBC-watching bleeding heart, and open your mind before you open your mouth. ter text right here!

skeeter
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skeeter
February 15, 2011 5:46 pm

Sheeeesh brad. Go to the hopsital and get a couple of $50 aspirins!
And where did your "really looking at about 10 million" non health care folks come from?
Do ya think that just maybe the insurance companies and health care providers together might be to blame?
I don't have any, CAN"T get any, and that 's OK, because I can't AFFORD any if I could. Too busy working 50 hours a week to care.

AdamSmith37
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AdamSmith37
February 16, 2011 3:15 am

Had to do with the weather and some serious storms over there.

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