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Bob Chapman : Gold and Silver to go up 150% by the end of the year
in reply to: Gold Enters Major Bull Market #4797David
Thanks for the education along your thoughts, very much appreciated.
Gold $1591.10 UP $4.10
Silver $39.03 UP $0.84Below is a link to the article written by Ambrose Evans-Pritchard entitled “Return Of The Gold Standard As World Order Unravels.”
Mr. Pritchard is the business editor of the Daily Telegraph. For some years he was a Washington correspondent and eventually became a thorn in the side for the Clinton Administation with his reporting. When their nemesis permanently returned to Europe they openly admitted that they were quite pleased.
Gold is zeroing in on the $1600 level. Most expect this level to slow gold down a bit for a while. This could happen but for the next 6 weeks or so, I wouldn’t be surprised to see the metal continue to flex its bullish muscles. Remember, Martin Armstrong expects weakness to begin about the time of Labor Day.
Considering that the silver shorts have been dumping more paper silver into the market over at the Comex, one has to be impressed with silver’s ability to fight back. Pushing through the $38 level was no easy task.
in reply to: Gold Enters Major Bull Market #4799Some July 14, 2011 comments by Jim Willie.
Take a short break from all the hubbub in the United States over the faltering USEconomy, the reckless politicians pretending to come to a USGovt budget agreement (small or large), and the tacit admission by USFed Chairman Bernanke that indeed QE3 is very likely.
The June Jobs Report confirmed my forecast of a moribund economy in deterioration. The Republicans will not budge on their refusal to approve tax increases. The Democrats will not budge on their refusal to approve entitlement cuts. The Pentagon through hidden pressures has managed to keep the sacred war off the table for discussion, even though it stands as the largest factor in the federal deficits.
But the queer item is that President Obama spent most of his time in the last six weeks raising $86 million for his re-election campaign. His taking the high road in the budget discussion reeks of hypocrisy. The absence of leadership in the executive branch is matched by an equal absence in the Congress. The leadership at the US Federal Reserve is clear, but the incompetence and lost credibility has rendered the bumbling professor chairman a mere Wall Street tool whose ample tools dole out capital destruction.
Bernanke must react to the USTreasury Bond market pressures as much as his own long string of steadily wrong forecasts. My forecast was for QE3 to come by summer. The blueprints are on the table. The head fake and diversion drivel spouted by Helicopter Ben were ignored by the Jackass, just like the Green Shoots and Exit Strategy and No QE2 distractions in the last two years.
Quantitative Easing will go viral next, enough to call it Global QE. Gold & Silver will react, gold first with solid gains, then silver with massive gains to follow.
The common theme is the ruin of money.
Watch Italy for an extremely robust toxic powerful addition to the entire dangerous mix. Its nation is very large, whose debts are huge.
in reply to: Gold Enters Major Bull Market #4798Gold $1594.10 UP $7.10
Silver $39.27 UP $1.08Is Europe on the verge of a complete financial meltdown?
The following comments are from Mike’s school buddy from UCSB, Monty Guild. Monty is an
accomplished investment advisor with offices in west Los Angeles.“Although I understand that gold may have short term technical resistance at some higher levels, the fundamental background for gold and the argument for much increased demand for gold from Europe is stronger than it has been in decades.
We believe that a new wave of demand for gold is developing in Europe and will create substantial rises in price. Things look increasingly difficult for the European bond markets and European banks after the recent stress tests of European banks.”
in reply to: Gold Enters Major Bull Market #4796BlueJay,
At our present state of politics, with the enviro-socialists so prolific in our society, I do not think a constitutional convention would be advantageous for protection of our rights and liberties.
Amendments to the constitution, would better serve the purpose of changing the constitution, one change at time.
The one good thing about California that during earlier times when freedom was revered by the people, the democratic process of the public vote was made into law so that we could vote in laws that were not at the disposal of a corrupt representative government.
Not all the states have this public capability, which they should have.
A U.S.Constitutional amendment should specifically require all the states as a constitutional responsibility to establish the democratic direct public vote of creating law, changes to the state constitution, as well as referendums for Constitutional changes to the U.S. constitution.in reply to: Gold Enters Major Bull Market #4795David
Hugo Salinas Price has been calling for Mexico to go on a silver standard for years with your same exchange idea.
As Gerald Celente has said, current events form future trends. Below may be just the beginning of change.
Governors of 35 states have already filed suit against the Federal Government for imposing unlawful burdens upon them. It only takes 38 (of the 50) States to convene a Constitutional Convention.
in reply to: Gold Enters Major Bull Market #4793Mr. Bernake doesn’t know that in
certain areas like Sierra and
Trinity Counties in Calif. Gold
is legal tender, ie accepted as
currency, and there are areas
elsewhere, in the US, I’m sure.in reply to: Gold Enters Major Bull Market #4794Unconstitutional for the states to print money. Is constitutional and required by the constitution that states pay their debts in gold or silver. I would think that states could and should be able to hold gold and silver and issue silver or gold certificates based on physical weight of gold or silver in troy ounces and redeemable as gold or silver species. This is then traded for dollars at the exchange rate determined by the market.
in reply to: Gold Enters Major Bull Market #4789Gold $1581.50 UP $14.20
Silver $38.09 UP $ 1.94Gold trded higher today to nearly $1590 before it tired. Silver pushed above its 50 day average at 36.47 which is positive. The general $38.00 level still appears to present some resistance for the days ahead.
Below are some important thoughts of Peter Degraaf:
Governments have two ways of robbing the people of the fruits of their labor: taxes and the systematic destruction of the purchasing power of their currency.
In 1953, during the last audit of the U.S. gold reserves, the gold was referred to as ‘Gold Bullion Reserves’. Then in 2001 the description was changed to: ‘Custodial Gold Bullion.’ Six months later the description changed to: ‘Deep Storage Gold’. Could this mean that the above ground gold is gone and replaced by gold that is yet to be mined?
in reply to: Gold Enters Major Bull Market #4792Representative Ron Paul gets disrespected by a smug Bernanke saying, “gold isn’t money.”
in reply to: Gold Enters Major Bull Market #4791From Jin Sinclair today:
The New York Sun tonight takes Federal Reserve Chairman Ben Bernanke apart for his doddering performance before the House Financial Services Committee and his dissembling response to U.S. Ron Paul’s question as to whether gold is money. The Sun’s editorial is headlined “Bernanke: Gold Isn’t Money” and you can find it here:
in reply to: Gold Enters Major Bull Market #4790The following link below is to the July 13, 2011 article by Martin Armstrong titled, “The Outlook For Gold.”
In the article Mr. Armstrong points out that the expected drop in the metal will follow a late August into Labor Day.
I’ve attended many lectures and classes in college relating to business and economics with Mr. Armstrong’s current presentation being the most informative of all by a long shot. Mr. Armstrong’s creative imagination plus his inqusitive thought process coupled with his analytical abilities are most impressive and present a rare opportunity to get the real facts as opposed to receiving bogus information from all the wound-up talking heads that we are generally exposed to.
In the article Mr. Armstrong refers to a ECM. The ECM is short for the Economic Confidence Model which he created. The major cycle engulfs 51.6 years and is broken down into six sub waves of 8.6 years each. Within each 8.6 year intermediate wave there are four 2.15 year minor waves. Mr. Armstrong has already stated that the ECM has turned higher again on June 13, 2011 within the major cycle beginning with the termination of the preceding 8.6 year down wave.
The Chinese and the CIA wanted Mr. Armstrong’s software models because they were so successful, he refused. Shortly following, he was incarcerated in the early 2000’s and was just released some months back.
http://www.martinarmstrong.org/files/Outlook%20for%20Gold%2007-13-2011.pdf
in reply to: Another U.S. precious metals miner goes foreign #4784AHEAD OF THE CURVE
The American businessman, entrepreneur and miner were traditionally ahead of the curve. What curve? That curve would be the development of America’s natural resources. We owe the high standards of our life, which have developed over three centuries to the wealth of our natural resources, the spirit of our countrymen and the hard work of those who find, harvest and deliver natural resources to the cities and rural areas of the United States. America used to be ahead of the curve, a leader in bringing new wealth to everyone in our societies.
The Sixteen to One is a vivid example of sick society. Even the most global or radical people wishing or working to eliminate the exploitation of America’s natural resources contradict themselves with their attitude to stop all mining, logging, fishing or other natural resource productivities. They advocate these suspensions without a comment on the facts that globally, people must have natural resources because natural resources are the base and foundation of life. These advocates are short sighted. America has exceeded in writing regulations to protect natural resources while much of the rest of the world containing rich useful natural resources lag far behind. Alleged rape of the earth is greatest outside America where extraction exceeds enforcement not in America where enforcement exceeds extraction.
Why do I mention the Sixteen to One as an example? With not only a strong demand for gold but also a commercial need for gold, financiers, capitalists, investors and businessmen ignore this world-class gold deposit. Philanthropists should be added to the preceding list. America is losing more than the use of its abundant, local, natural resources. The culture of logging and mining is endangered as well. Young men with the vigor of spirit and the body and mind to work in an underground mine or forest filled those jobs. If America tosses these jobs aside now, it also tosses the well being of many young men. Few “old hands” will be around to train the youth of the 2020’s on the unique skills required to bring resources to the American marketplace efficiently, and responsibly. I may not be here to see it but I know it will happen. I arrived to California’s goldfields in 1974 and benefited from the words and actions of the “old timers”. For our preservation, protection and well being, including our world class, high standard of living, America should recognize the God given abundance within these independent and united states. They are placed here for our constructive use.
Countries in South America, Asia and Africa are now ahead of the curve due to the interests of financiers, capitalists, investors and businessmen in the exploitation of their natural resources. America is on the trailing edge. What should Americans do about this?
in reply to: Another U.S. precious metals miner goes foreign #4788President and CEO of the Original Sixteen to One Mine, Mike Miller, brings to light how this cutting edge mine is indeed ahead of the curve.
Depsite the ongoing (and with repeated attempts) onslaught to mis-charachterize California gold-mining, this mine and its optimism and truly GRAND historic track-record of gold production remains ahead of attempt to de-rail all mining efforts.
What curve?
There is an effort afoot to suggest that somehow, some way, through a malicious attempt sidetrack true potential, to derail all job-creation in the mining industry. Simply check the history and past entries on this forum to get up to speed.
Ahead of the Curve:
Here, the Original Sixteen to One Mine is poised to enrich California’s citizens by energizing its job-market potential. Yet….
It is no longer a question as to WHY investors are shy of stepping forth to embrace the opportunity….it is clearly evident that investors are shying away from ALL private sector investment due to excessive regulation.
I implore those of you sitting on the fence to please look closely into this potential, as an avenue to break free of the shackles regulatory government throws over our heads.
This mine is way ahead of the curve, with a rich history of gold. (I’m writing this as a concerned California citizen and one with an obvious interest in the success of this mine; and have no other affiliation other than an intense desire to see success.
in reply to: Miscellaneous #4787Too back we can move our properties.
NEW YORK (CNNMoney) — Buffeted by high taxes, strict regulations and uncertain state budgets, a growing number of California companies are seeking friendlier business environments outside of the Golden State.
in reply to: Miscellaneous #4786James Turk spells out what the real problem is, besides debt in the link below. Aside from some important issues regarding the continuing confiscation of our wealth, Mr, Turk, again, points the finger at TOO MUCH(incompetent) government regulation – a topic we are all very much aware of.
in reply to: Gold Enters Major Bull Market #4785Gold $1568.50 UP $14.10
Silver $36.11 UP $ 0.36Gold is getting a great lift in the midst of debt problems.
in reply to: Gold Enters Major Bull Market #4783Gold $1544.20 UP $11.50
Silver $36.71 UP $ 0.27Gold has found support at the $1500 level after briefly tradng below it and has been very strong lately as it closes in on its all-time high around $1560. Silver is well off its high from nearly the $50 level and struggles to advance with gold.
Aside from Jim Sinclair saying gold is on the verge of new highs, Martin Armstrong stresses caution as he expects a shake-down in both metals by about Labor Day.
Adding to the mix below is a kitco.com link to the article, The Silver Platter Opportunity by one of my favorite writers, Mr. Jim Willie. Within the article is an impressive thesis supported by charts from soneone else’s research that points to a big upcoming move in both metals.
Today from King World News, I learned that Jim Dines is looking for an ounce price on silver from $300 to $500.
Although it’s difficult to call the ups and downs correctly, both the metals remain firmly entrenched in their respective bull markets.
in reply to: Miscellaneous #4781Rae
Thanks for your positive perspective concerning how to react to bothersome subjects. Just be sure you have your garden planted in the right place.
http://www.theagitator.com/2011/07/07/does-michelle-obama-know-about-this/
in reply to: Miscellaneous #4782Rae’s comments are well taken and
very appropriate. People will drive themselves to the “nut” house attepting to combat all
the “bad guys”. Best to let the people who know how to fight them
best do the job. Life goes on.We
must be mining tho’ somehow.in reply to: Miscellaneous #4780Gold $1531.90 OFF $0.80
Silver $36.33 OFF $0.11The metals have turned higher over past days as a result of the downgrading of Portuguese debt.
The question is, can the expanding debt problems be temporarily cured and if so, for how long? Jim Sinclair has stated before that in a matter of two weeks the western world’s financial order could unravel.
The following are today’s comments from Jim Sinclair:
Raising the debt ceiling is the problem and not by at means a solution. The race between dropping revenues and increasing costs will not be settled by politicians that do not even understand the problem.
The resignations of key economic personalities in the present Administration is systematic of the solid nature of the downward spiral that has gripped Western finances since the failure of OTC derivatives turned a normal recession into a long term depression.
There is no event that will turn the tide of the ramifications for poor economic management. Nothing can stop Gold, Silver, the Swiss and the Cando now.
in reply to: Miscellaneous #4779Thanks for the message Rick. If we apply self-defense methods of the Orient, wherein you use the strength of your opponent against him on a political level what would it look like? It is the philosophy of “That which is yielding prevails”. Water erodes stone, the tree that bends does not break.
It is easy and dangerous I believe to get too wrapped up in finding everything that is wrong with our government and system. There is a personal toll that can debilitate a person. In this day and age with so much information bombardment I think we need to be careful and learn to take care of ourselves first. So what does “using the force of those you oppose against them” look like in a social sense? How do we move from a positive rather than a defensive position? It is in the day-to-day things we do, here and now.
The flip side of the same coin is that when you oppose something directly you actually strengthen it in the sense that it moves into a defensive mode. I believe that corruption contains within itself the seeds of its own destruction, so our task is to remain diligent and pay attention but to primarily put our energy into supporting what we want and what we know is helpful. Such as volunteering for your local fire dept. Taking food to your elderly neighbor. Growing a garden…etc…Ok I’ll get off my “soap box”.in reply to: Miscellaneous #4777in reply to: Miscellaneous #4778Bluejay, and all:
Your posed question of whether or not the “merry party-goes understand that our rights are in the process of being taken from us”…..
Whether yes or no (I suspect, based upon the answers and demonstrated wisdom that the huge answer is NO)…
…our challenge is not to wring our hands, but instead to engage every, EVERY! opportunity to share the Constitutional historic truths that have given us all our freedoms…the freedoms that feel so much like a levie collaspe beneath our shoes.
WE NEED NOTHING MORE THAN THE CONSTITUTION to share with the un-informed.
This is our challenge (vs. not to lament the challenge) that we face as a nation.
Public schools, unfortunately the truth, have specifically ommitted history with a suspect political motive aimed at public sector empowerment…never mind the education of the next generation…
We, all of us, need to take resposibility for the necessary acquired knowledge through the history of why our freedoms exist.
So, Bluejay….do these merry-minded party-goers understand that our rights are in the process and have been in the process of being taken from us??
No, and maybe, and for a few, yes.
Ours is a nation to preserve in the form of our founders, so we take the opportunities to teach. To enlighten the words in the Constitution that guarantee freedom for all.
I try to, everyday.
Let’s move forward!
in reply to: Miscellaneous #4776I listened to and watched our early 4th of July celebration last night in town as loud thundering explosions and flickering lights consumed the eastern sky over the city. Wondering all the time, do these merry party-goers understand that our rights are in the process and have been in the process of being taken from us?
The following video pretty much explains the situation that we find ourselves in today, July 4, 2011.
in reply to: Miscellaneous #4775“The Soledad Mountain Project, gold and silver, just outside of Mojave in Kern County is getting closer to production with all permits in place. The last remaining hurdle is to secure financing.”
I worked one of the mines on Soledad Mountain.
1982-3 I worked the elephant mine under lease from Virginia Knight widow of governor Goodwin Knight.
This mine is now part of the Soledad Mountain project.This project has now taken over 20 years in getting permits for operations
in reply to: Miscellaneous #4774When asked to prepare a vision for the Sixteen to One a few years ago, the following appeared from my thoughts about the future.
WHAT’S IN ITS FUTURE
A VISION
The vision for Original Sixteen to One Mine, Inc. (the Company) includes America’s natural resources but focuses on the plentiful natural resources of California. While the vision may appear to be rather explicit or narrow, it includes gold and other mineral products, timber and water. It encompasses their utilization, management, development and marketing for maximum yield. No other public reporting company incorporated in the United States shares this focus.
This vision includes the social aspects of natural resources and the desperate need to protect the cultural as well as the physical environment of our precious natural resources. The Company combines all social sciences as well as most physical sciences into an operational program. It is an enlightened business plan of operation. The Sixteen to One’s past reveals a necessary approach of maintaining long-term assets with the short term needs of producing revenue. Its present status is demonstrative proof that a small natural resource company has survived the demands of natural resource utilization in today’s overly aggressive pro environmental outlook.
The Company will become known as the model for future natural resource development in California and the United States. Its operations will challenge the erroneous myths and prejudices of well meaning activists who hinder the sensible extraction of our natural wealth. These beliefs have turned the omnipresent demands for raw materials to natural resource production in other parts of the world, a dangerous reality.
A primary ingredient for our vision and subsequent model to expand is an infusion of working capital. There has been a noticeable lack of interest from Wall Street or private investors in forest and mineral production. The modest attention of the stock market towards America’s natural resource companies hurts future generations both in the United States and the world. Some patterns of investment are predictable. Investors’ interest in specific industries continues to move from one sector to another. The Gold Sector is abstruse, removed from the usual way of thinking and difficult to comprehend. The forest industry follows closely in its mystic.
A movement into natural resource ownership or participation is overdue. Unlike banking, savings and loan institutions, automobiles, real estate, airlines, pharmaceuticals, computers, utilities and practically every part of the complex mixture of America’s democratic capitalism, the natural resource companies are ignored. Perhaps one simple answer is that resource companies believe they must stay under the radar to function in today’s hostile anti-mining/anti-logging mentality. Perhaps a more likely reason is the pure misunderstanding that potential investment capital has about these small but vital industries.
The Company’s dream foresees an awakening of Americans to the realization that we need and will benefit from a return to domestic natural resource productivity. For almost fifty years America has been bombarded with media blame for past degradation to the environment. Some of the blame is justified. Many extraction and harvesting methods, however, are no longer practiced and cannot be assumed as what to expect from future operators.
American industries have learned from the past and clearly are the most environmentally sensitive operators in the world. This is one reason to bridge the ignorance gap of the population and our leaders. The “not-in-my-back-yard” position is a short-sided myth! Vital and necessary minerals and other resource products come from countries without the sensible regulations that have evolved in the United States over the past hundred years. The consequences of this are global.
Even though population growth and physical development exploded during the twentieth century, the world-changing roll of the United States has taken a more dramatic turn. A counter cultural shift emerged. America was considered the can-do country. Democratic and capitalistic social ideologies opened the doors for an expanding middle class, especially from workers identified as “blue collar”. Our natural resources were developed and accessible. What changed?
Somewhat reluctantly America became a world power and responsible leader. The blue-collar worker of today is losing economic ground as our society turns more and more to the service industries. But the need for manufacturing contemporary products in America remains; and in order to produce, industry requires raw materials. America has them in abundance. America also needs the backbone of its labor resources to insure our freedoms.
The time has come to broadcast how to treat our inherited resources in the 21st century. Original Sixteen to One Mine, Inc., a US corporation, has all the pieces to lead this renaissance except one. That missing ingredient is explained in its Executive Summary. The oldest American mining corporation operating needs a grubstake to turn its dream into a reality. It will celebrate a 100-year, centennial birthday in October 2011.
Happy Birthday America. On July 4, 2011, the land that we appreciate and love is 235 years old.
in reply to: Miscellaneous #4772I’d like to see all of these northern counties secede too.
I’m tired of prepetual-career
politicians like our present
gov. holding “sway” year after year.in reply to: Miscellaneous #4773Before WW II Our state almost had a split to another state. ” The State of Jefferson” It only included California’s two most northern counties. In the past the State had an initiative opinion of the people to split the state 6 ways, which was approved, but only an opinion of the people. As usual the legislature just ignored what the people wanted.
Some thought on this is to split the California Eastern Counties away from the Western Counties, but to have access to the ocean, it would be necessary to have either San Diago County or Del Norte County as part of the split.
San Diago County would be the better county, as it is an economic power house to maintain the economic stability of the new State. The society of San Diago is more in tune to respecting the rights of the people.
What needs to be done is a popular vote of the counties in question by the people. A convention of county representatives to draw up a state constitution, and charter. Draw up a petition for an initiative vote to the Whole state of California, for the approval of separation, with the requirement for the legislature to action of approval to the mandate of the voter. Then a petition for state hood could be readied for presentation to congress and submitted by representative congressmen of those in congress with sympathy of the new state hood. I hope that the counties of interest pursue this action.in reply to: Gold Enters Major Bull Market #4769Gold $1485.50 DOWN $14.80
Silver $33.81 Down $ 0.91It appears that gold is positioning itself for lower levels. The fact that the $1500 level appears not as supportive as earlier suspected supports this view.
Even in Martin Armstrong’s lastest article http://www.10sigma.com/files/Borrowing%20from%20the%20Rich%2006-30-2011.pdf he is drawing attention to the metal, possibly, being weak into the early part of 2012. Although he still maintains from earlier publications that gold will eventually attain the $5000 level.
Also in his latest article Mr. Armstrong speaks of the safety of capital which will be headed into the private sector and away from government debt obligations for the next 4.3 years. Since the recent strength of gold and silver, a much larger focus may, indeed, be comong for the stock market even though unemployment will continue to rise accompanied by faltering economic news. It’s just a matter of current safety as folks become more and more concerned in the government’s ability to handle their ever-increasing debt load.
As the assets of the private sector become more attractive, with Armstrong’s suspected rising prices, it will present another opportunity to acquire more gold and silver lower down as the public’s mindset shifts away from this area with selling aided by the manipulating hedge funds and the government supporters who hate the stuff.
In early September the Perth Mint in Australia will release their new line of 2012 Lunar Dragon silver and gold proof sets. I’ll be anxiously awaiting to place my orders when they become available on the Net. These coins have proven to be excellent investments over the years for one reason, they are minted in limited quantities and sell out quickly.
in reply to: Miscellaneous #4768Beware of the manipulators
Thoughts from Martin Armstrong:
The importance of really understanding the Great Depression stems from the fact it was a Sovereign Debt Crisis. Unfortunately, the vast majority of the accounts of the Great Depression were domestic oriented influenced by the socialists who had been rising on the political scene even since the 1880s after the 1870s high and Marx’s Communist Manifesto in appearance 1848. They seized the facts and manipulated history for political purposes.
Just as the environmentalists used a natural warming cycle in the sun to claim man alone has caused global warming ignoring the natural 300 year cycle in the energy output of the sun to further their agenda. What about the previous Ice Ages that were followed by global warming without cars? The socialists re-wrote history to support their cause.
in reply to: Miscellaneous #4771Official calls for Riverside, 12 other counties to secede from California. Maybe, Southern California’s past producing gold mines will become active again.
in reply to: Miscellaneous #4770Bluejay has struck a nerve within, in a good way. Thank you for the avenue:
Solar and meteoritic impact cycles prove global cycles void of human input exist. It is painful to endure the politics of the newly named “Climate Changers”…as their’s is clearly a political ploy.
Man didn’t invent the sun; nor has man invented the weather. Al Gore tried to fake it with his movie (and an unfortunate many bought it like snake oil.)
Politics has a way of seeking the lowest common denominator: the least informed.
I like to point out the falacy by inviting human-causation-global-warmists to visit Yosemite Valley and ask them to ask themselves whether or not it is “beauty” (yes, of course.)….Next is to ask them where the ice went, and why it disappeared.
(Aerosol cans or CO2 auto emmisions or both, they are stumped and fumble around to assemble their head to assimilate what they’ve been conditioned to blame.)
Bottom line: we have historic ignorance on parade.
It does, indeed, directly affect every part of “regulation” we endure.
I DO NOT ACCEPT THE PREMISE…
and therefore have a handle on the political CRAP angle that generates the regulatory caltrops that prevent private-sector success.
This directly has affected the grand Original Sixteen to One Mine.
There is a solution to Global Warming in the minds of those who use it to control: it’s called Socialism, or even better, Communism, where everyone toes the government line.
The other solution is to point out that it is a human-fabricated futute disaster.
I, for one, know the difference. And can back it up.
in reply to: Miscellaneous #4767Is this the beginning of a new trend?
The Soledad Mountain Project, gold and silver, just outside of Mojave in Kern County is getting closer to production with all permits in place. The last remaining hurdle is to secure financing.
When in operation the mine will employ 165 and is expected to produce 75,000 ounces of gold and 950,000 ounces of silver per year for a minimum of 13 years.
The project is owned by Golden Queen Mining.
in reply to: Miscellaneous #4765On recent viewing of a map of Nevada, I realized: 1. There is
a lot of “nothing”;2. There are
los of ranches and railroad side-
ings; 3. There are lots and lots
of MINES, everywhere!! The gov’t
would be fighting a tough battle
to mess with all of them.in reply to: From the Sixteen to One Archives #4766Sacramento Business Journal writer, Mark Anderson, called today asking about a gold situation in California. He forwarded this article that appeared in the Journal almost seven years ago. It was interesting as I never saw it before. Check the spot price of gold back then.
Gold mine finds enough to dig itself out of hole
Drills out $600,000 worth
Sacramento Business Journal – by Celia Lamb, Staff Writer
Date: Sunday, August 1, 2004, 9:00pm PDTA small, struggling mining company in Sierra County says it hit pay dirt last week.
The Original Sixteen to One Mine Inc. drilled out between $600,000 and $700,000 worth of gold in about one week from its mine in the town of Alleghany, said company president Michael Meister Miller.
The company had started working in that section of its mine about one year ago but hadn’t turned up much. Miller said he was about to give up on that part of the mine and send workers out on another project when they hit the bonanza.
So far they have extracted 1,000 troy ounces of gold, and Miller thinks there’s more to come.It couldn’t come too soon for the company, which has been bogged down in the last couple of years by regulatory and legal hurdles, high power costs, high workers’ compensation costs, and legal problems that followed the death of a miner.
“We were down and out,” Miller said. “We were practically down on our knees.”
Sells to Alaskan tourists: Original Sixteen to One mine is a traditional underground hard-rock mine that has produced more than 1 million ounces since 1896. It’s been about two years since the company found a bonanza as big as last week’s, Miller said. Back then gold prices were lower, so it wasn’t worth as much.
Gold was selling for $385 to $390 per ounce this week. That’s down from this year’s peak of $427.25 on April 1 but much higher than prices from 1997 to 2002.
The company principally sells jewelry-grade gold and gold-laced quartz, which has been selling for about $2,500 per ounce, Miller said. It’s sold mostly to manufacturers who make jewelry for the tourist trade in Alaska, he said.
“The gold mining industry is certainly in decline in California, so it’s good news if they’ve hit some gold,” said state Department of Conservation spokesman Don Drysdale.Death landed company in court: The last few years have been difficult for Original Sixteen to One. In 2000 the company brought in an annual profit for the first time since 1995, despite the bear market for gold. But the good financial news was overshadowed by the death of miner Mark Fussell, who hit his head on a protruding ore chute as he rode a locomotive.
The federal Mine Safety and Health Administration fined the company $19,000 following the accident, and the company has appealed the penalty to the 9th U.S. Circuit Court of Appeals. The company and Miller also faced criminal charges related to the death in 2002, but a Sierra County Superior Court judge dismissed the case last year.
“It was very, very damaging to the company,” Miller said. “My hands were tied to raise money and it was very, very emotionally distressing.”
The company has sued the prosecuting attorneys in Sierra County Superior Court for $24 million, charging malicious prosecution and disruption of business advantage.
Miners get 30 percent of what they find: The company once employed 14 miners, but now it hires workers only on contract working for a 30 percent share of what they produce. A crew of nine works the mine now. The three miners who uncovered the recent find have each received $40,000 so far, Miller said.The company plans to use the proceeds to pay delinquent power and accounting bills and reduce its debt, which totals more than $400,000.
Because the company could not afford to pay an accountant for the past three years, its financial statements are unaudited and the company is in violation of Securities and Exchange Commission regulations, Miller said.
The company tracks sales of its stock on its Web site under the symbol OAU. The last recorded sale was 75 cents on July 22.Miller defended the company’s stock price, saying the firm is in business for the long haul.
“The plans of this organization are not to hype the stock, sell our shares for $5 or $6 and go to the Bahamas and sit on the beach,” he said.
Eventually the company hopes to raise $6 million and drill a new shaft, Miller said.Less than a penny per share: Original Sixteen to One earned $81,917 in the first quarter, which ended March 31, according to unaudited financial statements. That equaled less than 1 cent for each of the nearly 12.9 million shares outstanding, but it was up from a loss of $13,297 a year earlier.
First-quarter gold and jewelry sales of $246,285 were up 108 percent from the first quarter of 2003.
The company lost $80,000 on sales of $329,743 in 2003, compared to a loss of $280,085 on sales of $455,506 in 2002.Original Sixteen to One is the closest productive underground hard rock gold mine to Sacramento.
in reply to: Gold Enters Major Bull Market #4764From today’s http://www.jsmineset.com:
Jim Sinclair’s Commentary
Taking on more debt is the solution to the Debt Problem? Don’t sell your gold with this type of reasoning running the show.
IMF urges US lawmakers to raise $14.3B debt limit
By CHRISTOPHER S. RUGABER – AP Economics Writer | AP – 3 hrs agoWASHINGTON (AP) — The International Monetary Fund urged U.S. lawmakers Wednesday to raise America’s borrowing limit. It warned that inaction could lead to a spike in interest rates that would harm the U.S. economy and world financial markets.
bluejay comment:
It is quite apparent that we being instructed to take on more debt to save the world’s elite. Ron Paul says it’s time for the country to declare bankruptcy(bite the bullet) inferring that there has to be some pain to right the mess that we have allowed our masters to put us in and this would include cutting the banker’s intravenous feeding lines that have been stealing our children’s future since TARP was invented.
in reply to: Miscellaneous #4763Utah is one State to be watched for future trends. Keep an eye on Texas along with Representative Ron Paul of Texas- and Senator Rand Paul of Kentucky for resistance against what is clearly wrong.
Lee: Gold, Silver Should Be Treated Like Currency (Salt Lake Tribune)
Senators Mike Lee (UT), Rand Paul (KY), and Jim DeMint (SC) have co-sponsored a bill that would get rid of capital gains taxes for gold and silver coins.
in reply to: Gold Enters Major Bull Market #4762Thanks Martin for your kind words. I, also, appreciate your added insight in the 16-1 Forum pages.
Gold $1511.80 UP $9.70
Silver $34.88 UP $0.94Gold has been in consolidation, recharging its battery, for two months. The past highs from a low of $700 to $1000, to $1200 and to $1400 just needed a few months or so to recoup.
The current resting period from the $1550 plus high should be no different. One of the key ingredients to Jesse Livermore’s continued success was patience.
in reply to: Miscellaneous #4761Far beyond our specific mining obstacles in Alleghany, our wolf-cry as Free Americans is to shed our shyness to engage the inate fortune that is in our hands to discover!!!!
[All the political crap is trivial in big-picture….our challenge is to maintain our focus of freedom.]
Allow me these thoughts to move forward:
“We don’t step into their circle of distraction… we reverse it instead. WE ARE SUCCESS, despite the obstacles thrown in front of us. We don’t accept the premises of their arguments, instead don’t engage in that areana, and show the way to the expanding pie. Ours, THIS, is a GRAND GOOD FORTUNE to share with all, not one to be ashamed of….We never allow the notion that great fortune to those who pursue detracts from those without the insight.
“We lead by example!!! And inspire!!!”
When the
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