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Gold $730.70
Silver $13.43
Gold/Silver Ratio 54.41
Gold/XAU Ratio 4.35Rick
Didn’t mean to confuse anyone.
The bottom line is the Fed has to create continuing large sums of currency to prevent financial institutions in this country from going bankrupt and thus upsetting commerce.
The reason for this is that financial instruments called OTC derivatives are melting down with the lack of performance by the seller causing a strain on the system. You can follow all this along with getting a high caliber top notch education by reading jsmineset.com daily.
Since being educated some more at jsmineset I have been taught that it is important to assess a mining company’s financials before you recommend it or buy it yourself. In particular, do they have any non-recourse loans on any of their projects or properties. If the borrower for the project doesn’t meet obligations of the loan requirements the lender can take the project or property from the company and only the specified project or property and nothing else.
Each gold stock will be a case by case study. This is the reason I don’t mention so many individual mining stocks or gold stocks as a group much anymore. Many people who buy gold stocks don’t care about non-recouse loans or, probably, don’t even know that they exist. Many gold companies with project loans don’t even know if they have them or not, believe it or not.
If a company is borrowing from a bank or another financial institution the lender will require you to sell part of the future production. In this case, gold.
The risk is as gold goes higher the project borrower is getting closer to turning over the project or property to the lender. The safest way to secure needed funds is to exchange them for treasury stock or give the lender a royalty on the project.
Royal Gold as a lender did this kind of deal on a particular transaction with High River Gold on one of their projects in west Africa. I believe, when the loan is paid off in specific ounces of gold, Royal Gold will still maintain a small royalty for the mine’s life. As a royalty company, Royal Gold benefits the most when gold rises. To my knowledge, Royal Gold does not have any non-recourse paper.
Global trends are such that world holders of the U.S. dollar are reducing their positions plus companys and foreign governments are preferring to take payment in Euros.
Some people feel that gold is not in a bull market. They say that gold in the benefactor of the U.S. dollar’s bear market.
Gold’s trend will definitely be bullish, aside from the dollar’s weakness, with more OTC derivative failures.
The newspapers don’t even call them derivatives so much anymore, they call them structured financial products.
Bluejay, a bit confusing, but perhaps because it all is so inter-twined.
Can you help me distinguish the last year’s entries touting investing into the coming gold advance with you last warning?
I have no clue. Alhough, I am going to the web-site you suggest for clarification.
Personally, I find it better to try to locate gold myself. That’s why I’m tiny-small potatoes.
to wit: all gold value, no matter where found or held, is currently exploding in terms of dollars, yet the dollar is becoming a weak beak.
I guess I need a local-type-home-grown-perspective : how to put into perspective global trends while we here at home maintain a position of optimism.
Gold $735.40
Silver $13.47
Gold/Silver Ratio 54.60
Gold/XAU Ratio 4.27The news is all bad.
The Fed is burning our money and will continue to burn it to protect the big money interests in this country with no end in sight. The Fed is bad news for the common man.
There will be no financial future for the common man as long as the Fed exists. You can take that to the bank if in the future some are still open.
The next big move on stocks will be in the companies that install safes in people’s homes. All valuables and stock certificates should now be in personal safes and not in safety deposit boxes of financial institutions.
The financial instruments called derivatives are going to bring financial choas upon us. It is all starting to happen now which is not really being reported in the general media.
The excessive printing of money by the Fed to bail out Wall Street interests will make gold skyrocket in the many many months ahead and cause unbelievable inflation.
Gold may be vulnerable to fast sell offs engineered by our representatives but these declines will only be temporary as they have been before.
Seize weakness in the gold market as a golden opportunity to exchange your fiat money for more gold coins and some silver ones, too.
We are at the very beginning of historical times that will financially destroy the lives of many. Holding gold is a way to protect your family and its wealth.
You can be updated to events as they unfold on a daily basis at http://www.jsmineset.com.
Yes, we must remember our lower
division economics subject which we can look back on now
with things “boiling”. The
most vital elements could be
monetary policy used by the
Federal Reserve and Fiscal
policy which can be exercised
by the Federal Gov’t. We feel
the effects more from the latter than from the former
the Gov’t raises and lowers
taxes which hits our wallets
most directly. The former method requires some explaining
which is too involved for this discussion.I truly appreciate the recent discussion about banks, dollars and related areas. My father had an attorney friend, Bob Thurn of Auburn, who thought the Fed Reserve acted in a surreptitious manner. This was in the 1950’s. I enjoyed listening to their conversations as a boy of 12 to 15 years old. Bob was definitely in the minority. Even then most people did not care about such a cerebral topic. The mystery remains today.
A lot of the old fashioned gold bugs of the 1970’s wrote about dollars, money, gold, Fort Knox, central banks and the Fed Reserve. There is quite a bit of history available on the subject, but who really knows. Has Fort Knox or the Fed banks undergone financial audits? If so, is the information public? Do many care today to understand US and international currency evaluations?
I cannot offer much without some research. My library has numerous books on gold currency and banking. My great grandfather and great-great grandfather, Henry and Frank Miller, were bankers with the D.O. Mills bank in Sacramento in the 1800’s. They both signed the bank’s notes or money. Banking was much simpler then than now.
As far as conspiratorial theories, they may not apply to the banks. As far as manipulation or concealed consensus in the banking field, the word oligopoly pops into my mind. We studied it in Economics 1A, and the definition may apply to the banks: a form of monopoly in which the effective control of a market is exercised by a limited number of competitive sellers. I do know that it takes more dollars (Federal Reserve notes) to buy an ounce of gold today than it did fifty years ago.
Gold $666.40
Silver $11.76
Gold/Silver Ratio 56.67
Gold/XAU Ratio 4.88Dick,
Thanks for the tips.
The banks just probably changed their names with the backers remaining the same. This happens all the time in the furniture busines following the big close out sales. I’m sure they just didn’t sell their shares and get into something else.
Banking is a great business to make money in. When you make mistakes in lending or in becoming a party to a drivatives contract the central bank(Fed) will always bail you out at the expense to the public practically every time.
“The Fed makes people poor” -Ferdinand Lips
Dear Bluejay,
I do appreciate your checking this out.
Yes, this is the heart of conspiratorial thinking.
But how can the list of banks be close if they don’t exist? I would check the original source and date.Try to look them up one-by-one on Google.
It does sound similar to Henry Ford’s regrettable Protocols of Zion, a fiction that Mr. Ford belatedly apologized for.
I believe you’ll find that the U.S. Post Office also has no “owner.” But someone with better legal/government knowledge might set me straight.
Best regards and I hope to hear about striking gold at the 16:1.
Dick Davis
Dick
On Augtust 17, 2007 Tyler wrote Jim Sinclair the following at http://www.jsmineset.com which Mr. Sinclair responded to:
Dear Jim,
I did not know this….
Furthermore, the privately owned Federal Reserve Bank(the Fed) is not a government agency and is owned by a group of primarily foreign bankers. These controlling shareholders are: Rothschild Banks of London and Berlin; Lazard Brothers Bank of Paris; Israel Moses Sieff Bank of Italy; Warburg Bank of Hamburg and Amsterdam; Lehman Brothers; Kuhn Loeb Bank of New York; J.P. Morgan Bank and Goldman Sachs.
Mr. Sinclair’s response:
Dear Tyler,
This is the foundation for all the conspiratorial views. No one really knows who owns the majority of the Fed, but the list is close. One thing you can say referring to axiomatic truth that “you can take to the bank” is that when the big boys are starting to roll over, the Fed will burn the dollar to ashes if required in order to prevent its major owners, whoever they are, from folding.
This one is akin to the ads recently run by GEICO concerning the educated, up style modern caveman. The caveman is being interviewed and is asked what he thinks about the group dynamic and the individual ego. He replies, Huh? Then the interviewer says, “Sounds like somebody got up on the wrong side of the rock today.”
My reaction to this sentence is “Huh?”
The Federal Reserve System is not “owned” by anyone and is not a private, profit making institution. Instead, it is an independent entity within the government, having both public and private aspects.
1. It is owned by many entities and therefore “not anyone.”
2. If it is not a profit making institution could it be a private, loss making institution or a private break even institution? There are many ways to make money from the Federal Reserve outside of the Federal Reserve.
3. It is an independent entity within the government. That is another “Huh?”
4. “Has both public and private aspects.” That sounds like ownership to me.
Jim
In the movie “Conspiracy Theory” I found it thought provoking. Since monetary history has never been taught in any learning institutions that I am aware of, my original quoted source was intended to be thought provoking concerning our money.
Thoughts concerning the Fed can range from believing what they tell you on their website to a hard right turn towards curiousity and education.
Personally, I find that when any organization is not transparent to the public there must be a reason for it. The lack of transparency provides fertile ground for illicit power and greed to flourish.
Gold $657.00
Silver $11.62
Gold/Silver Ratio 56.54
Gold/XAU Ratio 4.94In the past few weeks OTC derivatives based on the subprime mortgage sector and other interlocking financials have sent a chill to the vibrant stock market. The market dropped over a 1000 points before the Fed injected billions and billions of dollars to stabilize confidence. It was an all out effort bringing into play all members of the Exchange Stabilization Fund.
It just seems that there will never be anymore financial problems that can’t be solved just as long as the Fed is the lender of last resort.
Who is the Fed? The Fed is a private company and not a government body. Presented below is a list of the owners of the 12 Federal Reserve Banks making up the Fed in this country:
Rothschild Bank of London
Rothschild Bank of Berlin
Lazard Brothers of Paris
Israel Moses Seif Banks of Italy.
Warburg Bank of Amsterdam
Warburg Bank of Hamburg
Lehman Brothers of New York
Kuhn Loeb Bank of New York
Goldman Sachs of New York
Chase Manhattan Bank of New York
The following comments were made by William Cooper and were presented on the internet at http://www.proutnewsnetwork.orgsometime in 2003.
1- Although the Fed is required to give back most of its profits back to the Treasury Dept., there is no organization that has the power to audit the Fed(not even the Congress or the IRS).
2- Every year, a few Congressman introduce legislation to audit the Fed, and every year, the legislation is defeated. The owners of the Fed are the most powerful, invisible lobbying power there is.
HISTORY OF THE FED
After several attempts to push the Federal Reserve Banking Act through Congress, a group of bankers funded and staffed Woodrow Wilson’s campaign for president. In 1913, Nelson Aldrich, maternal grandfather to the Rockefellers, pushed the Federal Reserve Act through Congress just before Christmas, when most Congressmen were on vacation. Naturally, President Wilson passed the Act when he was elected as a pay back to the bankers.
HOW THE OWNERS OF THE FED PROFIT AT OUR EXPENSE
The U.S. government runs a $400 billion dificit annually. To cover this, the U.S. government issues bonds which are bought by the Fed.
Since the Fed has the power to print money, it can buy any amount of the U.S. bonds at almost no cost, save for the expense of printing money. It costs the Fed 3 cents to print a $100 bill (Remember there is nothing pledged behind this money as there was once when the U.S. had a gold standard).
At this point, the owners of the Fed already profit $99.97 for every 3 cents they invested to print the money. Basically, they exchange something that cost almost nothing to them with the U.S. government bonds.
Since the Fed can not be audited by the IRS(or even Congress), most of this profit can go anywhere the Fed owners want to. BTW, did I mention that the profit is tax free.
Under the law, the Fed is required to return its profit back to the U.S. Treasury. However, neither the Congress nor the IRS has the power to audit the Fed. The Fed has used this obvious loophole to profit via ‘creative accounting.’
3- The owners of the Fed own the controlling interests in all major media in the U.S. Rockefeller, through Chase Manhattan bank, controls CBS and ABC and 28 other broadcasting firms. Each of the others owners of the Fed also has controlling interest in the U.S. media. This explains why the media have been silent about the Fed scam. The Fed fraud is the biggest and longest cover-up in the U.S. today.
4- According to Article 1, Section 8 of the Constitution, the U.S. Congress has the power to print money(The Congress shall have the power……to coin money, regulate the value thereof, and of foreign coin…). According to the Supreme Court, the Congress can not transfer its power to another organization like the Fed.
On August 8, 2005 Mr J.P. Schumacher at the Gold Rush Summit in Dawson City read a prepared speech by his partner, Mr. Ferdinand Lips who was unable to attend. In parts of that presented speech Mr. Lips stated:
There will be no more Federal Reserve. The central bank is the fourth in the country’s history. The former three ended in financial disaster. The organization has tragically failed. It has run the 1913 dollar to below 5 cents. I suspect that a revolution will take place against the Fed. It has made people poor.
————–As human beings, there is an overwhelming desire to steal if they are not faced with audits in financial dealings.
Why hasn’t there been an audit of the U.S.’s gold reserves???
“Secrets destroy organizations”
Gold $657.00
Silver $11.62
Gold/Silver Ratio 56.54
Gold/XAU Ratio 4.94In the past few weeks OTC derivatives based on the subprime mortgage sector and other interlocking financials have sent a chill to the vibrant stock market. The market dropped over a 1000 points before the Fed injected billions and billions of dollars to stabilize confidence. It was an all out effort bringing into play all members of the Exchange Stabilization Fund.
It just seems that there will never be anymore financial problems that can’t be solved as long as the Fed is the lender of last resort.
Who is the Fed? The Fed is a private company and not a government body. Presented below is a list of the owners of the 12 Federal Reserve Banks making up the Fed in this country:
Rothschild Bank of London
Rothschild Bank of Berlin
Lazard Brothers of Paris
Israel Moses Seif Banks of Italy.
Warburg Bank of Amsterdam
Warburg Bank of Hamburg
Lehman Brothers of New York
Kuhn Loeb Bank of New York
Goldman Sachs of New York
Chase Manhattan Bank of New York
The following comments were made by William Cooper and were presented on the internet at http://www.proutnewsnetwork.orgsometime in 2003.
1- Although the Fed is required to give back most of its profits back to the Treasury Dept., there is no organization that has the power to audit the Fed(not even the Congress or the IRS).
2- Every year, a few Congressman introduce legislation to audit the Fed, and every year, the legislation is defeated. The owners of the Fed are the most powerful, invisible lobbying power there is.
HISTORY OF THE FED
After several attempts to push the Federal Reserve Banking Act through Congress, a group of bankers funded and staffed Woodrow Wilson’s campaign for president. Nelson Aldrich, maternal grandfather to the Rockefellers, pushed the Federak Reserve Act through Congress just before Christmas, when most Congressmen were on vacation. Naturally, President Wilson passed the Act when he was elected as a pay back to the bankers.
HOW THE OWNERS OF THE FED PROFIT AT OUR EXPENSE
The U.S. government runs a $400 billion dificit annually. To cover this, the U.S. government issues bonds which are bought by the Fed.
Since the Fed has the power to print money, it can buy any amount of the U.S. bonds at almost no cost, save for the expenseof printing money. It costs the Fed 3 cents to print a $100 bill (Remember there is nothing pledged behind this money as there was when the U.S. had a gold standard).
At this point, the owners of the Fed already profit $99.97 for every 3 cents they invested to print the money. Basically, they exchange something that cost almost nothing to them with the U.S. government bonds.
Since the Fed can not be audited by the IRS(or even Congress), most of this profit can go anywhere the Fed owners want to. BTW, did I mention that the profit is tax free.
Under the law, the fed is required to return its profit back to the U.S. treasury. However, neither the nCongress nor the IRS has the power to audit the Fed. The fed has used this obvious loophole to profit via ‘creative accounting.’
3- The owners of the Fed own the controlling interests in all major media in the U.S. Rockefeller, through Chase Manhattan bank, controls CBS and ABC and 28 other broadcasting firms. Each of the others owners of the Fed also has controlling interest in the U.S. media. This explains why the media have been silent about the fed scam. The Fed fraud is the biggest and longest cover-up in the U.S. today.
4- According to Article 1, Section 8 of the Constitution, the U.S. Congress has the power to print money(The Congress shall have the power……to coin money, regulate the value thereof, and of foreign coin…). According to the Supreme Court, the Congress can not transfer its power to another organization like the Fed.
Dear Bluejay,
Your information sadly appears to be pre-WWII propaganda. The list of banks hardly own the Federal Reserve, and most don’t exit.
I would suggest: Google: Federal Reserve and you’ll find all the current information.
If you wish you can go directly to:
http://www.federalreserve.gov/generalinfo/faq/faqfrs.htm#5
Who owns the Federal Reserve?
The Federal Reserve System is not “owned” by anyone and is not a private, profit-making institution. Instead, it is an independent entity within the government, having both public purposes and private aspects.
Best regards,
Dick Davis
Gold $674.10
Silver $13.06
Gold/Silver Ratio
Gold/XAU RatioThere is a crack appearing in the illegal shorting scheme of the gold stocks. This may be a sign of changing times.
For many months expert gold stock watchers have been complaining of all the phantom selling of gold shares without delivery being made.
US gold stocks have been effected but the most damage by the anti gold miscreants have been done on the Canadian gold related stocks.
In the past week a massive amount of buying pressure has been exerted on the most undervalued stock in the US. The company is Royal Gold and the shorts are in big time pain as the stock hit 32 this morning, up from about 24 in a matter of days.
If a total squeeze is in the makes for all the illegal shorting in the group combined with a continuing higher gold price all gold stocks will rocket higher and be the talk of the town.
Gold $672.70
Silver $13.09
Gold/Silver Ratio 51.39
Gold/XAU Ratio 4.62Rick
The term ‘short sale” is a type of order that is entered in the market place as opposed to a regular sell order or a buy order.
The short sale is a bet that the security or anthing else that is shorted will fall in price. To sell short means you sell something that is not yours. To facilitate the trade you have to make delivery so arragements have to be made with the broker to borrow the security or whatever is be replaced at a later date of your choosing.
For example: You think gold might have a bull market sell off. Gold is currently at $672. You sell short a 100 ounce contract at $672. The following week gold trades lower to $666 when you buy the 100 ounce contract back at that price.
The difference is $6 on 100 ounces which the contract represents which equals $600 profit to you minus commissions.
This is what you have done: By selling short(you borrowed a contract representing a 100 ounces of gold on the COMEX in NY)your account was credited $67,200. When you purchased the contract back at a lower price to replace the original borrowed contact your account was debited $66,600.
When your accountant does your taxes for the year he will see a buy at $666 and a sell at $672.
In today’s market this procedure of delivering borrowed stock or a gold contract, in this case, does not apply to everyone. Hedge funds get away with murder because no one saw fit to regulate them. In addition, OTC derivatives aren’t regulated either. It sounds like a license to steal, doesn’t it? It is!
Currently there is a law suit going to discovery with the plaintiff Overstock. com against some prime brokers. The crux of the matter is that certain prime brokers allowed naked short selling. Naked short selling is when someone sells something that they don’t own and do not make arrangements for delivery to the buyer.
Overstock.com has issued just over 19 million shares to the public and company employees but past buyers seem to own from 35 to 40 million shares of the Company that were purchased in the OTC market.
If our founding fathers were still alive people would be in jail for this criminal act. If you sell something on eBay and don’t deliver it to the buyer while taking their money, what do you think happens to you? I’ll tell you what happens, you are no longer permitted to use eBay and the police will be soon knocking at your door. This is called fraud.
Anyone willing to understand what’s been going on in the OTC trading in the Royal Gold stock over past months would only conclude massive amounts of naked short selling being permitted by prime brokers.
Royal Gold has one of the best business plans in the industry with the least amount of risk. Why has it been selected to have its price suppressed? One of its outspoken advocates and an advocate for gold ownership is being indirectly censured by the anti gold camp, plain and simple
Jim Sinclair calls this naked short selling criminal. It’s all being condoned by the new evolving Authoritarian Free Enterprise system which is all about power and profits with little to do with people like you and me.
Rick, the best time to sell short is on a fast rally in a bear market. Selling short to depress prices in a bull market, in time, will be catastrophic.
Simply put, “SHORT.”
I’ll leave it to Bluejay to explain.
All along, comsider the opposite in OAu…seeing the gold in hand is better than paper. Besides, it’s much heavier and feels solid.
Gold $662.70
Silver $12.93
Gold/Silver Ratio 51.25
Gold/XAU Ratio 4.54The 666 level on the gold chart continues to be the battle ground between forces of the righteous and devilish anti-gold villains on the COMEX.
The bullion banks unleashed their army of sellers just minutes ago and took gold down quickly from 666.50 to 662. Anyone with a brain doesn’t sell a market down this fast as waiting could easily produce a much better price.
The miscreants at the COMEX in New York aren’t interested in selling for profit as they are short sellers looking to create a panic sell off.
The COMEX market in gold is really just a paper market backed with some gold in a depository somewhere. Who audits them? Is the gold really there? Remember, the Commission that governs all Commodity and option trading in this country is a member of the Exchange Stabilization Fund. Remember what these guys are suspected of?
One wonders if the COMEX has gold in its depository as Dan Norcini reports today on jsmineset.com that there has been a 50,000 gold contact drop at the COMEX over the past 5 trading days and that gold holdings at streetTRACKS GOLD SHARES ETF (GLD-NYSE) are at a record high 506.69 tons.
One plausibale reason for so many contracts being closed out and possibly being put into a Gold ETF is that people might suspect that COMEX doesn’t hold the gold they say they do.
In the end it all comes down to where the physical gold is as opposed to the miscreants pounding gold down regularly on the suspected COMEX paper market.
If the COMEX traded physical gold like they do in London the story on gold’s last sale would be significantly higher without question.
Some years back Michael Miller mentioned to me that one of his friends wanted to take physical delivery of a maturing gold contract that he held at the COMEX and they were quite reluctant to deliver it to him. What does this sound like to you?
Gold $664.20
Silver $12.82
Gold/Silver Ratio 51.81
Gold/XAU Ratio 4.46Rick
It looks to me that gold has put in some solid footing in today’s US trading at the 660 level.
The gold stocks are moving ahead swiftly and look great. Last week’s weakness, most probably, was just a weekly anomaly in the serious march to much higher prices for the group.
It is clear someone or some entity or group of entities does not want gold to advance and seek its free market price. “Gold will have its revenge.”
The gold battles will continue each time the metal looks like it’s about to rocket under the $1000 level.
Use their selling tactics to improve your buying tactics.
Good Luck.
Gold $660.50
Silver $12.67
Gols/Silver Index 52.13
Gold/XAU IndexIf anyone is experiencing apprehension with gold continuing weak it is suggested that you read the following articles for an excellent education and some added comfort.
“The Evolution Of The Gold Market” posted at http://www.jsmineset.com and
“Gold and USDX” posted at http://www.kitco.com
Rick
The serious long term buyers of gold with significant increasing profits over the past years couldn’t even give you a good answer to your perceived question.
I take a shot at predicting bottoms once in awhile when significant long term technicals are in place to increase the probability in my favor but for daily trading, I think Dan Norcini makes a masterful case of price analysis on a regular basis.
Dan is an acquaintance of mine and regularly makes contributions at the jsmineset. com website concerning support and resistance on a daily basis in the gold market.
The truth of the matter concerning cherry picking bottoms in gold or in any other market is that only a very tiny percentage of the daily and long term players actually do accomplish this.
I will give you some good advice: Scale down buying during sell offs in a bull market is the way to go. The lower the short term decline carries, the better the probabilities will favor you for an average price.
Never fear sell offs in a bull market. When it happens, go for a walk or go see a good movie. The manipulators can’t get to your brain in those places.
The miscreants really greased the bull slope last week with an excessive amount of short sales. Go to jsmineset.com and read Norcini’s Friday entry. I hope you enjoy the article.
Bluejay,
As you know, I’m not an eccomomist, but I watch everything and learn, many perspectives from you.
It struck me that you cite gold’s weakness trading where it is tonight, no doubt a relativity to all else, as you’ve so well pointed out.
Considering the Dow’s current quasi-correction today (5% vs it’s “support” at 13200), where does a weak gold market find it’s bearing?
Gold $669.70
Silver $$12.97
Gold/Silver Ratio 51.63
Gold/XAU Ratio 4.48The low on gold this morning was 666.50 as compared to a high of 688 two days ago. It is suspected, again, that the Exchange Stabilization Fund(ESF) is actively giving orders to their select bullion banks to crush gold’s price.
The ESF operates in secret. These people’s salaries are paid from our taxes and their operations routinely lead to daily raids in gold followed by weakness in the shares of gold companies. The anti-gold policies of this administration and previous ones have cost owners of gold companies untold billions of dollars.
Gold is despised by the government and all the people that have benefited from easy money. The banks and the Fed want it both ways: Consistently increase the money supply while consistently preventing gold from reaching its fair market value.
A fair market price for gold would certainly undermine confidence in people’s minds concerning the US dollar, considering that it has no gold backing. If that were to happen people might demand payment for the exchange of their goods and services in another form or atleast for the dollar to be backed by some amount of gold. If confidence were to erode the dollar would fall into an endless pit just like the Continental bills did.
So for this reason the owners of gold and gold related companies are destined to suffer a little longer as big brother continues to restrain gold from reaching its potential. Somewhere down the road the manipulators will run out of gimmicks and physical gold. IT WILL HAPPEN!
In time, the world’s wealth in gold will have been tranferred over to India, China and the Middle East. Russia who has been adding gold to their reserves for the past years will also be another rich country.
Where does that leave the US with their “deep storage” gold revserves at Fort Knox, West Point and in New York City. Of all the central banks in the world, the US is the only one that describes where their gold reserves are by the term “deep storage.”
The Senator from our district in Washington was asked about “deep storage” and she had no opinion except to repeat some mumbo jumbo that the Treasury had given her. If anyone knows where “deep storage” is for our country’s gold don’t hesitate, bring it on!
A dirty little secret may be that the country’s gold is gone and it has all been used up in the price suppression scheme over the previous years.
The reported western central banks gold supply has been declining for years as opposed to the remainder of the world’s central banks as a whole which have been steady and to increasing.
“The liberties of a people never were, nor ever will be, secure, when the transactions of their rulers may be concealed from them.” – Patrick Henry
Gold $666.00
Silver $12.87
Gold/Silver Ratio 51.75
Gold/XAU Ratio 4.51Following the A.M. market posting this morning gold continued lower until it stopped at the $660 level. Currently in the Sidney and Hong Kong markets gold is pushing higher from the New York close of $662.30 and is currently $3.70 higher.
Gold’s weakness is clearly defined to originate at the New York COMEX Exchange after the opening during the recent three days activities by a gold chart provided at kitco.com.
Rarely over recent times does the Asian markets gold price sell off. It is not until the New York COMEX market opens that the US handlers start directing their bullion bank toads to start jumping around with a handful of sell orders.
The reason for the aggressive gold selling over the past three days, probably by the Exchange Stabilization Fund, was for the following reasons:
1- An attempt to stabilize the US dollar Index at the 80 level.
2- An attempt to redirect attention from the weakening sub prime mortgage market and to show that people were not moving into gold for safety.
3- An attempt to support the stock market which was unusually weak today and to even show people that gold was a bad alternate choice for safety because it, too, was in moderate decline.
The psychological war on gold never seems to end but one day it will when it vaults through the $1000 level on its way to “going bananas” when it sets its sights on the $2000 level.
Jim Sinclair stated last night on his website that western central banks were speaking of selling gold during 1979 and 1980 when it advanced from $400 to $800 an ounce every other day.
Gold is in a generational bull market and due to these periodic vicious attacks will require, unfortunately, committed patience and fortitude.
Gold $667.60
Silver $13.11
Gold/Silver Ratio 50.99
Gold/XAU Ratio 4.42Gold shares continued strong today with the Philadelphia Gold & Silver Index(XAU) closing up 4.86 to 150.79. This is the highest close on the Index in six months. The gold shares continue to outperform the metal with the Gold/XAU Index shrinking to 4.42 from 4.54 on 7-10-07.
It is quite possible that a significant breach of the multi year highs at the 150 level on the XAU chart is close at hand.
The following statements were made by the respected chart technician Mr. Alf Field at kitco.com on July 11, 2007:
“In the gold market we finally have “Ignition” and “Lift-off.” Events over the past three weeks have created a situation where an upside price catapult of at least $100 per ounce, without a significant correction, can be anticipated.”
“It appears that the long 14 month correction since May 2006 has come to an end and the much anticipated strong “third of a third” up wave has started. This forecast can now be given a high probability of success.”
The remainder of Mr. Field’s thoughts can be accessed at kitco.com under the article Gold: We Have Lift-Off!
Gold $663.10
Silver $12.88
Gold/Silver Ratio 51.48
Gold/XAU Ratio 4.54The declining Gold/XAU Ratio from 4.66 on 7-05-07 to today’s last of 4.54 is saying that gold stocks are stronger than gold. In the past this type of market action has been the harbinger event of higher gold prices.
There is an excellent short essay written Mr. Jim Sinclair that was just added to the jsmineset.com website entitled “Proof The Shorts Are Frantic To Cover Gold Shares” that should be read by all.
The current illegal shorting of gold shares and all the dirty tricks used for this current manipulation are really no different than what Jim Fisk and Jay Gould and their buddies did to the gold market in 1869 that brought upon Black Friday. In this case they were bulling the market higher.
If the 150 level on the Pliladelphia Gold & Silver Index(XAU) gives way to buyers there could follow an advance than will explode in the faces of the shorts like a burning wildfire and incinerate them in a spectacular short term rally.
“Gold will have its revenge” – Ferdinand Lips
Gold $647.00
Silver $12.41
Gold Silver/Ratio 52.14
Gold/XAU Ratio 4.66Today the anti-gold establishment is attempting to melt down gold’s price. From a high of 657.50 earlier, they have swan dived it to the 645.30 level. This is an old story: When the banking system is threatened they throw mud all over the alternate choice of safety by selling gold.
The weakness on the COMEX paper market for gold is a knee jerk reaction to the deepening and continuing OTC drivatives blow-up at a Milan bank reported July 4, 2007.
These people are like children that go on a rampage in a Toys R Us store each time they don’t get their way. Instead of crying and stomping their feet they just invent all types of ways to defecate on the gold price.
This is all what the new authoritarian free enterprise system is all about: There will be no way out for the common man to protect himself against the wrath of these people. The rich corporations along with their government buddies want it all. One only has to follow the employment movement of government authoritarians to big business and from big business to government authoritarians to understand this marriage.
They have already compromised the constitution and probably the judiciary system too, they have already stolen our pension fund benefits and they continue to steal from us by reducing our purchasing power through monetary expansion.
Ferdinand Lips has stated that gold will have its revenge.
It is apparent that smart money is now moving into the gold stock sector. The Gold/XAU Ratio this morning is 4.66, Friday it was 4.71. The lower it goes the stronger the gold stocks are becomming against the metal.
A lessening in price of the ratio is indicating a strong and growing presence of buyers who are expecting higher gold prices to be just around the corner.
The bull trap for gold that was set at the Barrick Gold’s annual meeting has run its course. Gold is very cheap at these levels and even cheaper when compared to where it should be as a result of the continuing damage being done to it by the Fed.
Gold $653.70
Silver $12.60
Gold/Silver Ratio 51.88
Gold/XAU Ratio 4.71Last Updated: 10:18AM BST 7/4/2007
Blow-up costs Milan bank 419 million Pounds
Clients losses at the Italian bank Italease mushroomed out of control following rate rises, reports Ambrose Evans-Pritchard.
A derivative blow-up at the Italian bank Italease has sent tremors through Milan’s banking fraternity and exposed the hidden dangers of exotic credit instruments.
The bank has paid off 419 million Pounds in recent days to counter-parties in what amounts to a massive margin call after interest rate rises in Europe caused hedging and derivative losses by clients to mushroom out of control.
“These derivatives were very complex and suddenly turned against us,” said Pierantonia Arrighi, the banks’s spokesman.
“They started moving in a non-linear way, so the losses were rising exponentially. We were afraid that in the worst case some of our clients would not be able to pay the contracts, so we stepped in to protect them, which means we took over the risk.” he said.
Jim Sinclair comment: One at a time the world’s central banks might be able to hide the growing financial disaster child of OTC derivatives.
However, this is number three in three weeks. That really bad day we have spoken about about could be any day now.
end..It appears that a financial systemic meltdown is in progress. Unless the central banks can harness this growing albatross of pending financial doom, gold will go bananas to the upside as people migrate toward safety just out of fear.
Gold $657.00
Silver $12.59
Gold/Silver Ratio 52.18
Gold/XAU Ratio 4.72MarketWatch from Dow Jones reports the following excerpts by Myra P. Saefong and Polya Lesova under the story title, “Gold up over $8 on save-haven buying, dollar drop” 4:33 PM ET July 2, 2007.
The followingn quote is from Mark O’Byme, director of Gold and Silver Investments Ltd:
” However, of more importance is the Bear Stearns shambles and the increasing possibility of forced liquidation of more than $1 trillion of collaterized debt obligations which may lead to huge losses in large banks, insurance companies, and pension managers and systemic issues.”
Bear Stearns(BSC-NYSE) is having difficulty calculating the exact amount of losses at two hedge funds it runs, and investors will have to wait as long as two weeks for a current accounting of their value, according to a report in the Wall Street Journal Monday.
The illiquid nature of many of the exotic mortgage-backed securities the funds held is making it difficult to value the holdings, the Journal said.
It looks like the OTC derivatives market will be living up to its advanced billing by Warren Buffett when he said, they are weapons of mass destruction.
Gold $656.60
Silver $12.59
Gold/Silver Ratio 52.15
Gold/XAU Ratio 4.76Good news out of Norway this morning concerning gold.
Lars Lindgren has predicted the US dollar will drop by over 10% this year to the .70 to .71 area. The last price on the US dollar Index is .8115
Lars on May 13th of this year predicted an oil price rise to 70 for this July when at the time it was 62.37. Crude oil today is 70.44.
Gold will advance with a declining dollar.
Gold $647.50
Silver $12.30
Gold/Silver Ratio 52.64
Gold/XAU Ratio 4.76Posted On: Friday, June 29, 2007, 5:30:00 PM EST by Mr. Jim Sinclair at http://www.jsmineset.com
US Dollar Weakness Trumps Market Manipulation
They can manipulate as much as they want but it is all in the US dollar.
It is my opinion that those powerful short interests -both legal and illegal- are frantic to cover and are therefore pulling out all the stops.
Dirty tricks, use of media pals and all the underhanded methods seem to populate everything these days from gold to gold shares of good value.
Using the baseball analogy, Three strikes and you’re out,” I rate today as strike two at the .8050 to .8150 range on the USDX(U.S. Dollar Index). The interesting part of this is that commentators are looking at the differential rate between the US Fed and other Central Banks. My comment is, “Like hell that is the reason.”
The real reason is a meltdown of sub prime mortgages that appears to have caused Bear Stearns more of a problem than was first thought. When you see a new man come on board at Bear Stearns who specialized in asset maximization you know the horse dung has hit the proverbial fan.
I believe that Over the Counter Derivatives are now melting down, threatening many other well known international investment firms. And that is why the dollar looks like death warmed over. In addition, that is why the price of gold is under the great power of manipulation to hold it down so as not to reveal the degree of the problem.
Remember this about Over the Counter Derivatives:
1. They have no regulation.
2. They have no standards.
3. Without standards there can be no viable market.
4. They are unlisted.
5. They are traded by private treaty negotiation.
6. They are valued by “Mark to Model” which is a total cartoon.
7. They have no financial guarantee such as a clearing house.
8. They are unfunded special performance contracts floating in cyberspace. All funds in the OTC Derivatives are taken out as spreads and commissions.
9. More than 50% of the earnings of major international investment banks come from granting in private negotiations these instruments of mass financial destruction.
10. The financial performance of the specific performance contract called OTC Derivatives depends on the financial capacity of the loser in the transaction.
11. Control has been loose in the interest sensitive OTC Derivatives because of multiple dealings outside of the initiating two until no one knows who has what.
12. The replacement value of these instruments is in the multi trillions of dollars.
Interest rate differential would not hammer the dollar as we are seeing today. Remember that three strikes and the US dollar is out. Expect every dirty trick and media negativity towards everything gold as quiet but frantic insiders attempt to offset a panic by subverting early warning systems.
Those in the know are frantic to cover their short positions which can only be accomplished if they stampede you by every means possible. They are going to fail. You are not. If you wish to screw the shorts royally – simply do nothing. They can make price but they cannot make cover as long as you are not spooked into selling everything gold. The gloves are off and the major battle between longs and shorts in gold is here.
Gold is going to $682-$761 and then to $887.50-$1000 plus.
The bear market in gold shares is a total construction of bear raiding hedge funds that is doomed to failure.
Their really bad day is close at hand!
end..The miscreants have been doing a real hatchet job on gold and the gold shares in past months. It is best to keep in mind, concerning their ultimate ability to suppress prices, that there is only approximately 44,000 tons of gold yet to be mined in the world today and that the annual deficit of 1,500 tons of mine supply versus demand are not going away.
Gold $651.60
Silver $$13.10
Gold/Silver ratio 49.74
Gold/XAU Ratio 4.70(In the past few weeks the gold stocks have been stronger than gold.)The following excerpts are from an article published by Joe Kay at http://www.wsws.org on June 11, 2007 entitled, “US: CEO pay climbs to “Stratospheric Heights.”
“CEO pay(up 38% in 2006 compared to 2005), high as it is, is nevertheless dwarfed by the compensation for managers at the top hedge funds, which coordinate investments for the extremely wealthy. The 25 highest-paid hedge fund managers in the US had an average income of $540 million in 2006, according to a report in Alpha magazine in April.”
According to the amount of inflicted damage by suspected hedge funds on gold related stocks recently, the average incomes of the top 25 hedge fund managers may exceed their 2006 totals.
“The beneficiaries of the continued rise in the stock market are increasingly a tiny layer of the population. In 2004, nearly 60 percent of all capital income(income from interests, dividends, rents and capital gains) went to the top 1 percent. This share was the largest since these figures were first recorded in 1979.”
“It has been steadily rising over the past decade, and no doubt over 60 percent in 2006. At the same time, corporate profits relative to employee compensation and the national income are also at a record highs and rising.”
“This means that there has been a steady redistribution of wealth over the past quarter century, and in particular over the past several years. Real wages have stagnated or declined, while the earnings of top executives and investors have skyrocketed.”
“An AP article notes, citing a study by the Institute for Policy Studies, that if the federal minimum wage had increased at the same rate as CEO pay, it would now stand at $22.61. Instead, it will increase to a meager $5.85 in July. The real minimum wage has actually fallen substantially over the past three decades.” The “real minimum wage” is the inflation adjusted wage.
At jsminest.com last night Dan Norcini displayed two charts: One showing a recent break out to the upside for the price of wheat and the other showing a runaway advance relating to the price of milk. These increases will be showing up fast enough in your supermarkets.
Gold $651.00
Silver $13.08
Gold/Silver Ratio 49.77
Gold/XAU Ratio 4.70In a surprise move GATA(Gold Anti-Trust Action Committee) retained lawyer Edwin Vieira of Washington D.C. to pursue the truth about what has happened to the U.S. gold reserves using the Freedom of Information Act.
In GATA’s press release of June 14, 2007 its Chairman William J. Murphy said, “As the nominal holder of the largest official gold reserves in the world and the issuer of the primary world reserve currency, the U.S. government has much to answer for here.
No one is more expert in these issues than Ed Vieira, and all GATA wants is the truth. In a democracy that should not be too much to ask.”
Gold $650.70
Silver $13.09
Gold/Silver Ratio 49.71
Gold/XAU Ratio 4.76Part 2
Message from Ferdinand Lips that was delivered in Dawson City, August 8, 2005 to the “Gold Rush 21” Convention.
Returning to a gold based monetary system and how it can be achieved:
1) GATA
2) Knowledge
3) Mining
GATA
-Gold Anti Trust Action Committee-GATA for seven years under the leadership of Bill Murphy and Chris Powell have been fighting for free markets, for a free gold market. Bill’s courage is without example. It is a fight of David against Goliath. Day after day he is hammering out his message for transparency through honesty.
Day after day he informs us how honest people are robbed by arrogant governments, bureaucrats, useless central banks and an all mighty banking system. It is a total crime. If you manipulate the price of assets of other people, destroy the economy of all nations, primarily Africa, and drive hundreds of millions of people into poverty, it is a crime.
GATA courageously fights for free markets, better markets, honesty and a better world. GATA deserves our full support.
The mining industry has often been criticized by GATA and rightly so. GATA criticized it for not protesting against the obvious manipulation. The mining people don’t realize what is happening to their product and to them and to their shareholders.
They are mostly engineers and don’t understand what some dark and obscure characters on COMEX(commodities market in New York) are doing to them, they are just closing their eyes. If you realize how much it takes to get a few grams of gold out of the ground then it is obvious that this manipulation is a major crime.
It can only be in the interest of the mining people to support GATA. Actually, it was the job of the World Gold Council but they have failed. That is one of the strangest organizations I have ever met. In any case, they are not the friend of the gold mining industry.
All the gold and silver mines of this world should give GATA an annual contribution. All investors, primarily those interested in gold and silver mines, must subscribe to GATA. GATA is the only organization fighting for miners and investors, fighting for their rights and their money.
GATA should become a structured business corporation. The benefits for everybody would be enormous. Not just for a few stock market gains but for the whole economy, the mines, the shareholders and the workers and for freedom.
Can it be done? Yes, it can. It is needed because the cabal can not endlessly steal our money. GATA must live and grow. Let’s build GATA into a powerful organization. Bill deserves it, he is a pioneer.
Gold $646.50
Silver $12.99
Gold/Silver Ratio 49.77
Gold/XAU Ratio 4.79The Gold/XAU Ratio is included for it tells the true story on the health of gold and silver stocks. When the ratio is at 5 the shares are a buy and when the ratio is at 3 they are a sell for intermediate trading purposes. This is a time tested approach to understanding the health of gold and silver shares as opposed to scary current events. The ratio is availble at kitco.com and is updated frequently.
Holding gold and gold related companies has been made difficult recently by the criminal elements in the marketplace. We all know who they are, all the way up to the “all mighty” FED. If the gold is in Fort Knox why can’t the auditors confirm it? “Secrets destroy organizations.”
Following this anti-gold charade, those who own the gold shall make the rules. Don’t be a sold out bull, hold your ground.
Gold $648.40
Silver $13.05
Gold/Silver Ratio 49.69The price manipulation of gold has cost owners of gold companies untold billions of dollars and has forced many of them out of business and left most of the remaining ones just fighting for their lives.
As Ferdinand Lips has said, “Gold has been the standard of all great civilizations.” Ferdinand Lips was a Swiss banker, a gold market analyst, an author and was the leading advocate in returning to the gold standard. Sadly, Mr. Lips passed away not seeing his dream come true in September of 2005.
On August 8th of 2005 the Gold Anti Trust Action Committee(GATA) sponsored “Gold Rush 21” in Dawson City where many concerned people joined in a convention to mainly discuss the western central bankers’s management of the world gold price.
During the conference one of my Lips’ business partners, J.P. Schumacher, presented his speech that he was unable to present himself because of illness.
Following are some excerpts from that speech:
“The gold standard was the highest monetary achievement of the nineteenth century.”
Mr. Lips gives his forecast of the future with his 10 conclusions:(Remember this is August of 2005 when gold was just above $400 an ounce)
1- There will be no more Federal Reserve. The central bank is the fourth in the country’s history. The former three all ended in financial disaster. This organization has tragically failed. It has run the 1913 dollar to 5 cents or lower of its original value. I suspect that a revolution will take place against the FED. It has made people poor.
2- Most of the central banks must go. They have been too irresponsible. They have provided money for the banks and the wealthy to speculate and left ordinary people holding the bag. They have fraudulently sold their citizens gold and invested in U.S. dollars with its debt backed by nothing. They sold gold at the bottom and later sold some dollars at the bottom in recent years for the Euro. Gold is the only alternative to worthless paper monetary reserves.
3- I am worried about the future of the United States. They have a dying manufacturing sector. They are bleeding to death with endless wars. They have no real enemy from the outside but have one that comes from the inside. People are not informed what is going on. I hear people are losing their freedom, of course this is the consequence. Americans should remember their heritage and the principles of their founding fathers. Wonderful men created a great and successful country that was admired by the whole world. This is all gone. Their government is only interested in teaching the world democracy. They want to rule the world but don’t understand it. They want to manage markets they no longer control and go to war when nothing else works.
4- China will be the biggest economy in the world, believe me. This is far superior than Disneyland. China will be the most important country in the world but will have to be careful managing its growth. The growth will create tensions and China could divide into three countries. It has happened before. The three countries would find management easier.
5- India will become wealthier and more successful. I wonder if a country is that successful if it has so many poor people. Contrary to predictions, India will buy more and more gold. They will never change. The gold road to India and all over Asia starts in Dubai. Dubai is building the biggest gold refineries in the world.
6- Russia could become the greatest power of the world. Russia may have the biggest gold reserves. In 1917 under the Czar Russia had the biggest buildup of gold reserves, including the Bank of England. It is a fabulously rich country with enormous resources, a lot of good people and a lot of culture.
7- Together with Russia, Europe could again be the center of the world but first the Euro needs a link to gold. The E.U will fail and the Euro may fail.
8- Gold and Silver will be much much higher, along with oil. There is not enough gold. Who wants to produce gold and silver as much as when prices are held artifically low? This whole manipulation of the gold price has no end. It will end just like the London Gold Pool in 1968, just collapse. The Gold Pool was created in 1960 by the central banks to keep gold at $35 an ounce. It could not last. Gold was stronger than the central banks and gold will also be stronger than the hedge fund boys who are criminally borrowing and shorting stocks of gold rich exploration companies just to bring them down on their knees. Only this time the explosion of the price of gold and gold stocks will be more spectacular, they will go to the moon and the manipulators will be hit by a real boomerang. Gold will take its revenge.
9- If the price of gold and silver were left to free markets sources, everyone would benefit: South America, and most of the continent of Africa, especially South Africa. Even the U.S. which is the third biggest gold producer would benefit. There would be a renaissance in mining benefits to the economies as a whole.
10- My most important forecast is the following: A return to the gold standard. Without a return to the gold standard you cn forget it. I repeat, you can forget it. If we go back to the gold standard I can see the best scenario for mankind. Everyone would benefit from sound money. South America, South Africa and the U.S. could again be a great economic power and nation. Asia may benefit the most. The world economy would run on its full potential. There would be full employment everywhere. The young could again find jobs. Peace would return to the world.
How can it be achieved?
1) GATA revelation
2) Knowledge revelation
3) Mining revelation
The completion to follow another night.
Gold $670.10
Silver $13.20
Gold/Silver Ratio 50.77In the past few days Lars Lindgren from Norway has forecast a $70 price for light crude oil in July versus a last price of $62.37.
Just today David Galland from CaseyResearch.com did a story on oil’s potential at 321.com.
What was most interesting in the article was a chart displaying the proportional price relationship of gold to oil prices since 1946. The chart specifically compares domestic west Texas intermediate oil to the London gold price.Up until 1999 gold and oil pretty much followed each other with the exception of the lead volatility of the oil prices at times. During the years of 1999 and 2000 the oil price exploded from about $11 a barrel to close to $35 a barrel. During that same period gold was in about a $250 to $275 price range, basically a sleep. Of course this was the same time of the infamous English Treasury gold sales. Were these sales part of a western central bank master plan to keep gold under water as the rising oil prices were screaming, inflation ahead?
The chart is worth viewing as it clearly shows from 2004 to present that gold stopped following higher oil prices. Is oil to high or is gold too low? Lars Lindgren says oil will advance over the next two months. David Galland draws the senario of gold at $100 a barrel if hostilities break out between the U.S and Iran.
When will gold’s price be released from the chains of western central bankers and their funny ideas? There are super rich people in the world today that understand, in U.S. dollars, that gold is super cheap compared to oil and are quietly and methodically acquiring it.
correction:
Gold closed at $670.10 Friday, not $679.10
Gold $679.10
Silver $13.20
Gold/Silver Ratio 50.77The gold market is wound up fairly tight with buyers and sellers flexing their muscles as each side approaches the other’s lines of defense. The key element in this market is resistance in the 690-700 zone and evolving support in the 660-665 area. Gold’s celebrated $15 weakness on Thursday couldn’t carry through into the next day as buyers found gold attractive near the 665 area and bid it higher, closing the precious metal at 670.10 for the day.
What has gone generally unnoticed is gold is establishing a growing firm footing on the chart in the 660-665 area. According to Blanchard $ Company there has been massive European central bank sales recently. Gold has stood firm in this area for the past three weeks. The probabilities are increasing that gold will soon mount the 700 area.
Gold $667.50
Silver $13.01
Gold/Silver Ratio 51.31Gold got spanked pretty good today, selling off $15 in New York while closing at about $665. Comments at the Barrick Gold annual meeting on May 2nd propelled gold upwards to hit about $690 three days later. Since Tuesday, it’s all been all downhill.
This declining phase has all the earmarks of your friendly little miscreants at work again. If they are going to take gold down farther then you should be buying the metal in earnest, not being scared into selling it.
These people aim to freighten you and drive you out of your gold coins and gold stocks. It is certain that some people have given in already. Free markets in this country are a thing of the past.
Don’t let the miscreants use their controlled markets to blind you to the truth. James Sinclair is the most successful gold investor in the world and he says gold is going to $1650 and that’s all you need for courage as these market bandits attempt to steal from you.
Bluejay, thanks for the words regarding my entry titled OUTRAGEOUS, now moved into the Court of Appeals topic.
Next, regarding gold stocks. I realize you may not be in a position to do so, but I am currently re-allocating my portfolio in the market and want to include gold/mining related stocks or mutual funds, and hope for your input. What can you recommend, if not specific stocks, a good resource for comparison?
Gold $688.10
Silver $13.97
Gold/Silver Index 49.26Rick
Half of your allotment should be in gold coins while taking delivery and the remaining balance should be mostly in Royal Gold(RGLD-OTC) with some scattered purchases of gold and other metal exploration companies.
Paul Van Eden is the expert for recommending exploration companies. He publishes a letter which is expensive. I believe two of his past recommendations were Miranda Gold and Lara Exploration Ltd. I do not know their current status as I am not a subscriber.
Gold $688.40
Silver $14.05
Gold/Silver Ratio 49.01GFMS Ltd. in London reports the following:
Global mine production cash costs increased in 2006 by 17%. This is twice the increase compared to 2005.
In North America cash costs did far worse. In the U.S. they were up 29% while Canada’s were higher by 26%.
Global gold output was down by just over 3% to 2471.1 tons as compared to the production in 2005 of 2550.1 tons.
Peak gold production in the last ten years was 2645.0 tons recorded in 2001.
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