The Mogambo Guru Strikes again...

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The Mogambo Guru Strikes again...

Post by hawkiye on Wed 17 Sep 2008, 10:39 am


I had just gotten off the phone to find out why the silver I
ordered last month has not arrived, and I get some runaround about how there is
no silver to be had to fill my order. Naturally, being familiar with how the
supply/demand dynamic works, I call the little clerk a lying piece of thieving
garbage, because it is impossible that the market price of silver is going down
in an environment of zero supply and obviously rising demand!

Well, the phone mysteriously went dead right after that, and
before I could call him back and REALLY tell him off, I see where this is
common right now, as Theodore Butler says that "Premiums are up and
delivery delays are longer. This is something we are all witnessing for the
first time."

And James Turk at Free Market Gold & Money Report notes that
it is the same thing in the gold market, too!

He says that a normal person would assume that the size of the
working stock of gold held by the United State's Mint to make the popular Gold
Eagle coins and miscellaneous trinkets would vary "from month to month,
just like inventory varies from month to month in any business as a result of
changes in production and the ebbs and flows in sales."

It gets spooky when he goes on to note that "indeed, the
Mint's inventory did vary monthly, up until March 2006. But according to the
Treasury's reports, the Mint's working stock has remained exactly 2,783,218.656
ounces since April 2006. How is it possible that the Mint's working stock has
remained unchanged for 28 months?"

Instantly I was on my feet, shouting, "Because they are all
a bunch of lying, corrupt scumbags exploiting a fiat currency and insane levels
of fractional-reserve banking, which is the very reason why you should be
buying gold and silver in the first place!"

I thought, you know, that this witty interruption of mine would
impress Mr. Turk, and so I sat back down with a big smile on my face and
crossed my arms in smug self-satisfaction as I waited for him to shower me with
praise, and maybe offer to buy me a drink, or a pizza, or let me use his car
for a couple of hours or days.

Sure enough, he immediately said, "There are an infinite
number of possible answers. Maybe the Treasury does not want to part with its
remaining gold at these current low prices. Maybe the Treasury does not want
Americans to exchange their fiat dollars for the safe haven of gold as the
central banking fiat money scheme implodes. Maybe the Mint doesn't have any
gold because the 2,783,218.656 ounces were loaned out. Maybe the Treasury
doesn't have any gold either. Of course, no one really knows because the
Treasury isn't talking."

So, realizing that I am going to have to do more to impress Mr.
Turk, I stand up and say, "I think it is all of these, and more! So much
more! Maybe even involving creatures from outer space, probably in the form of
spores; and these spores, see, have infected the brains of everybody except
smart people like you and me, so that they could control the behaviors of
members of Congress, the Federal Reserve, the media, the schools and most of
the general moronic populace to cause the collapse of the world's economy,
whereupon flying saucers containing the Main Invasion Force (MIF) will appear
and take over the world, whereupon everybody will cry out, 'Save us, oh,
Mighty, Mighty Mogambo (MMM)!' and I will laugh - 'hahahaha!' - rudely in their
faces and say, 'It's too late for that now! You should have listened to me
years and years ago when I told you to either stop electing
socialist/collectivist morons who will bankrupt us with allowing, and then
spending, a fiat currency multiplied to ridiculous extremes by a ludicrous
fractional-reserve banking system, or start buying gold and silver, but
preferably both! So shut the hell up, you morons, because you are getting
exactly what halfwits like you so Richly, Richly Deserve (RRD)!'"

Apparently, Mr. Turk was not impressed by my insights, and has
not been around many paranoid, schizoid, raving gold-bug lunatics like me,
either. Obviously visibly shaken, he cleverly diverts my attention by appealing
to my greed, and notes that the gold-mining XAU Index shows that "The XAU
Index has fallen back to the bottom line of its long-term uptrend channel."

If you have ever worked with technical analysis, you know that
the price of something that "has fallen back to the bottom line of its
long-term uptrend channel" that has been in effect since October 2000 is
one of those rare Holy Grail occurrences that make you salivate with sheer
greed and all you can think of is, "Who can I borrow some money from with
which to buy this asset at an interim low?" and "How much money am I
going to make when the price of gold goes 'boing!' back up to the top of the
channel and will it be enough to quit my stupid job?"

On the other hand, the same XAU Index measured not in dollars but
in grams of gold reveals that "It now takes only 5.0 goldgrams to purchase
the XAU Index, just a whisker above the all-time historic low of 4.9 goldgrams
reached in November 2000."

Such a paradox will obviously be resolved somehow, and Mr. Turk
figures that "we will not see the prices of the mining stocks this dirt
cheap again for years to come - if ever."

I'm betting he is right. You should, too, as that is the One Real
Lesson (ORL) to be gleaned from the long, sad, sordid history of fiat
currencies in the hands of governments; go gold!

The MOGAMBO GURU, e-economic newsletter,

by Richard Daughty, the angriest guy in economics.
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hawkiye

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Posting by the Revered Mogambu Guru

Post by MontgomeryScott on Sat 13 Dec 2008, 7:53 pm

Hawkeye,
I first ran across the Mogambu Guru's postings about 5 years ago, after a freind turned me on the Steve Quayle, Jeff Rense, Stan Deyo, Alex Jones, etc. 'alternet'-
There are TWO MAIN sites that he posts at: The Daily Reckoning, and Asia Times.
As an official Junior Mogambu Ranger, hiding out in my JMBOD (Junior Mogambu Bunker Of Doom), I am enlightened and encouraged that you are re-posting his stories---
Apparently, on the 'e-economic newsletter', he does not go in to his usual style of claiming that he is hiding out, waiting for the economic bomb to drop, while arming himself to the teeth and wishing that he had one more bottle of good Kentucky Bourbon-all the while heaping critisizm of the fools that allowed the Kensyan model to corrupt their rotted, putrid brains in bringing the world to the brink of the 'meltdown' that is becoming ever more obvious, even to the most casual observer--- pale affraid

Again, Hawkeye, thanks for spreading the word of a studied and revered honest thinker! cheers

MontgomeryScott
'Somewhere in southwestern Idaho'
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