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Karl Denninger: Real people say 'screw you' to the markets
By Karl Denninger
Market-Ticker.org
Friday, August 26, 2011
Liquidity? None. This is the bid/offer stack in the S&P futures a few minutes into the trading day:
[See chart at link below.]
Nobody is talking about this. That's 27 -- twenty-seven contracts -- on the bid at 1146.75. During the trading day. There's less than a thousand up and down the stack through the entire visible portion.
This is a tiny fraction of normal liquidity and those sub-100 numbers are more akin to what you expect in the middle of the night when everyone's sleeping.
All that's left is the computers. The humans have gone home. True liquidity and participation have ended. The people have given up.
This is not an isolated incident -- as I write this I'm seeing it literally minute by minute, and it's been very common all month. A few minutes ago I saw seven contracts on the bid at the money. Seven -- at 9:57 ET in the morning.
The fraud, the phony bids and offers, and the high-frequency ripoffs have driven everyone away. ...
* * *
For the complete commentary:
http://www.market-ticker.org/akcs-www?post=193037
Golden Phoenix Q2 2011 Conference Call Posted at Company Internet Site
The second quarter 2011 conference call of Golden Phoenix Minerals Inc. (GPXM) has been posted at the company Internet site for immediate playback. The call includes updates on the start of gold production at the company's Mineral Ridge gold project in Nevada, the letter of intent to acquire the Santa Rosa gold mine in Panama, and the company's due-diligence efforts to secure a senior stock exchange listing.
The conference call is 18 minutes long and you download an mp3 of it here:
http://www.goldenphoenix.us/audio/GPXMCC071211.mp3
Or play back the call here:
http://goldenphoenix.us/conferencecalls/
Golden Phoenix is a U.S. mining company with international exposure to gold, silver, and strategic metals. The company's business model combines project generation and royalty mining that offers the potential for exploration upside, coupled with the backing of production and future royalty streams. View company videos here:
Join GATA here:
Toronto Resource Investment Conference
Thursday-Friday, September 15-16, 2011
Sheraton Toronto Centre
http://cambridgehouse.com/conference-details/toronto-resource-investment...
The Silver Summit
Thursday-Friday, October 20-21, 2011
Davenport Hotel, Spokane, Washington
http://cambridgehouse.com/conference-details/the-silver-summit-2011/48
New Orleans Investment Conference
Wednesday-Saturday, October 26-29, 2011
Hilton New Orelans Riverside Hotel
http://www.neworleansconference.com/
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https://www.amsterdamgold.eu/gata/index.asp?BiD=12
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... Dispatch continues below ...
Prophecy Platinum Drills 49.5 Meters Grading 1.27 g/t PGM+Au at Yukon Wellgreen Project
Company Press Release
August 22, 2011
Prophecy Platinum Corp. (TSX-V: NKL, OTC-QX: PNIKF, Frankfurt: P94P) announces results from its 2011 drilling program for its first completed hole on the Wellgreen Project in the Yukon Territory, Canada.
Borehole WS11-184 encountered 472.6 meters of mineralization grading 0.43%
nickel equivalent from surface to the footwall contact. Within this larger swath of mineralization the hole encountered 49.5 meters of 1.27 grams per ton platinum group metals plus gold, 0.71% nickel, and 0.45% copper (or 1.11% nickel equivalent).
The geology transitioned from blebby disseminated to net-textured to massive sulphide approaching the footwall contact grading 6.3% nickel, 1.7% copper, 2.7 grams per ton platinum, 1.6 grams per ton palladium, 0.17 grams per ton gold, and 3.4 grams per ton silver. The drilling zones and results are tabulated here, with more information:
http://www.prophecyplat.com/news_2011_aug22_prophecy_platinum_wellgreen_...
