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- in reply to: Gold Enters Major Bull Market #5256
Gold $1543.40 OFF $13.10
Silver $27.66 OFF $ 0.52Gold and silver are weak when they should be strong for two big reasons: Greece is on its way to pulling out of the Euro and sticking it to the banks who most likely got them into their financial mess and the derivative implosion at JP Morgan. When Morgan states they may have a $2 billion loss you better believe it runs deeper and most likely extends to a broad amount of institutions.
So what do our leaders do to keep the public calm? Act like all this is positive by dumping more and more paper gold. One wonders what the Chicago Mercantile Exchange’s books look like at their Comex devision with all this suspected paper dumping of so-called gold.
The whole illegal affair is a paper game of betting, minus the physical metal at commodity exchanges. The New York gold market today is no different than the “bucket shops” of past where betting was being done on which direction a security would go next minus the certificates. If enough bets were down, these too effected the physical shares. What a racket.
This manufactured drop effects honest people in a big way: shareholders, holders of physical coins and jewely plus the coin dealers inventory which they must sell at lower and lower prices to buyers. In order to hedge their inventory, dealers are forced to sell short the metal probably at the Comex adding more pressure to gold.
The banks, the bullion banks and the hedge funds are all suspected of dumping paper gold in mass with the blessings of the boss. The sad matter of fact is that China is buying elsewhere everyday and we are the laughing stock. In the end when physical should be delivered at the Comex, the US public will get stuck with the bill again as these entities will be bailed out by our representatives acting in our best interests but no physical will change hands.
This is a new trick of the metal exchanges: you don’t have to deliver physical but must make up the loss plus an additional subjective premium to the buyer to be determined by the exchange later. Feel like a hostage, I do.
These people are temporarily, because they’ll ever really win, ruining the investments in the mean time in our sector and in the process, we get doubled billed by the operators of rigged casino.
in reply to: Miscellaneous #5255Following JP Morgan’s surprise announcement recently of a $2 billion derivative loss here is an oldie but goodie that Jim Sinclair at jsmineset.com ran concerning JM Morgan that was written 8-30-02 by the respectful Ira Harris:
“Well, U.S. bankers have done it again. The best of the breed,JPMorgan and JAMIE DIMON, was blindsided by a large loss in its “hedging” operation. It is amazing how, since the REPEAL OF GLASS-STEAGALL, we have seen story after story of bank trading operations bringing the global financial system to the edge of a“SYSTEMIC CLIFF.” Since the repeal of the Glass-Steagall, the international system teeters on the precipice of a calamity. Now if COMMERCIAL BANKS want to be aggressive and trade like the proverbial hedge fund, then BANKS that are holding companies have to surrender their FDIC INSURANCE and pay for the use of people’s money.”
It’s absolutely amazing why regulators do not have a realistic pulse on what the banking industry is doing with other people’s money. Keeping your money on deposit at the banks is a risky game.
in reply to: Miscellaneous #5254Another hush hush tax you don’t even know about:
in reply to: Miscellaneous #5252How really safe are the banks?
Recently, JP Morgan announced that they had a $2 billion loss in derivatives. Following is an excerpt from Greg Hunter of http://www.USAWatchdog.com:
The only way JP Morgan could “bring down the entire space” is if the entire space was leveraged in ways similar to JP Morgan. Of course, no U.S. bank has more derivative exposure than JP Morgan.
According to the Comptroller of the Currency, JP Morgan has a little more than $70 trillion in total derivative exposure. (4th quarter 2011 OCC report) The next 4 banks have a combined $150 trillion (approximate) in total derivative exposure. I am sure the banks will tell you that this is all hedged (bilaterally netted) to minimize any losses, but we all know how well that strategy worked with AIG, Lehman and MF Global.
in reply to: Miscellaneous #5253In this topic on 05/11/2012, a good friend of the mine commented on the new beginnings of a Sierra Nevada mine. I know the history of this mine well and wish its operators great successes. Martin’s observation, however, is why I am writing. Much of media is purchased, especially by start-up gold mines. I bet that this operation will have a good relationship with the local media, as does the Sixteen to One. It is never a problem for the Sixteen to One mine to get coverage in local papers, which include the Sacramento area.
Origsix owns a mine and is operating its mine according to the available resources (money). It truly knows how to operate both with and without money, having sustained itself for over 100 years. It has not diluted its current owners when money is in short supply to survive. Money is directly related to the mining of gold (many junior and some major gold companies find their money from the public or others and sell their gold forward of production).
Our operation suffers not because it is not mining due to permits but because of lawsuits and the perception that these lawsuits have merit. The lawsuits scared people, people who lacked the moxie to even conduct a due diligence enquire. The CDAA criminal case was pure bunk! Anyone who spent any time reviewing the law and the facts surrounding it knew it to be bunk. The recent SMARA lawsuit was just a pain in the butt! Time and money and the real hardship it created for our future prompted me to give in to their extortion. (History, the law and the facts were also on our side), which brings us to the last remaining legal issue: California’s irresponsible water board and its staff.
Nothing should stop competent, serious and well-funded adventurers from checking out our plans for increasing mining and building this company. Now, since we are just a bunch, a small bunch of friends looking at the FORUM, I tell you this: If my moxie were grander, I would complete our due diligence regarding the remaining lawsuit advocated by the Central Valley Regional Water Control Board and file a lawsuit with eight causes of action, seeking damages for its unlawful conduct.
Let’s hope that someone in state government, be it the Governor’s office, the water regulators or the legislative politicians finally conducts their due diligence and approaches the litigants with a responsible settlement outline.
in reply to: Ideal Time for Facts #5251I was a guest speaker at the Sierra Fund conference in Nevada City on May 3, 2012.
Below is the synopsis:“THREE CENTURIES OF CALIFORNIA GOLD
Did you know that America’s oldest gold mining company operates the Sixteen to One mine about one hour from the Miners Foundry in Nevada City? Michael M Miller, president of Original Sixteen to One Mine speaks about the past, present and future of gold. He discusses reasons why and how the Sixteen to One survived through the tough years for gold miners, the Company’s current operation and its plans for leadership and the exciting outlook for the next decade PLUS DETAILS ABOUT THE UPCOMING MINE TOUR. A view from inside the Sierra Nevada turns feelings into facts, dreams into reality. It is safe but your feet get wet.
Sixteen to One mine is an high-grade, underground, traditional, gold deposit with one significant exception: the concentration (pockets) of gold in white quartz is so concentrated it’s measured in ounces per pound. It is one of the richest concentrated gold deposits in the world. Alleghany is recognized as the last gold mining camp in California, a place where history meets the present.
His focus:
GOLD MINING IN THE 21st CENTURY in the Sierra Nevada Mountains of Northern California! Is it beneficial to our communities? Will it bring lasting harm to our environment? Is gold mining history relevant today? Why are people upset with natural resource industries?WHAT IS DIFFERENT ABOUT CALIFORNIA’S GOLD MINES COMPARED TO OTHERS?
COULD AN EVENT LIKE THE ONE IN CHILI HAPPEN HERE?HOW ACTIVE IS GOLD MINING IN THE SIERRA NEVADA GOLD BELT?
IS THERE ANY GOLD LEFT FROM THE GLORY DAYS OF MINING?
WHAT IS STOPPING THE INDUSTRY IN CALIFORNIA?Questions are encouraged on all gold and mining related topics: health concerns; government regulating too much or too little; speculation, investment or a gamble; social/economic benefits or losses.”
This nonprofit took a questionable position last year entitled “Legacy of Toxic Mining in the Sierra Nevada”. Of the sixty speakers, only three of us offered any rebuttal to the exaggerated positions. I was invited back and again too the only rebuttal to the gloom and fear of abandoned mines in the Sierra Nevada, which they now named, “Reclaiming the Sierra”. The organization is sincere and well-meaning but sorely out of touch with real fear for this mountain environment: FIRE.
My talk closed saying, “if you really want help the Sierra Nevada spend your time and money on forest restoration. The Sierra Nevada is in grave danger from fire not abandoned mines.” The overzealous environmentalist has placed our forest in eminent danger. Their position has been: No cutting anything. The understory is over grown and a fire hazard. Poor trees are left to take water and space from healthy trees. The question of fire is not “if” but “when”. They call themselves progressive activists. They are not thinking progressively. They may be smart enough to change. Ignorance is the enemy. Enlightenment is the solution.
in reply to: Miscellaneous #5250When the bankers pushed to get their hands back on investor’s money by getting Clinton to sign off on dismandling the Glass Steagall Act it set the stage for unbridled banker greed.
An excerpt from the today’s Casey’s Dispatch:
“Yesterday, after the market close, JPMorgan announced that a series of synthetic credit trades done by its Chief Investment Office had gone terribly wrong and caused a $2 billion loss.
A “synthetic” trade is another name for a derivative trade, most likely some type of credit default swap. The bank claims that this Chief Investment Office’s job is to hedge the bank’s overall credit exposures, but that can’t be all that it was doing. This office had to be making huge bets on the market in what is nothing more or less than a form of proprietary trading.”
This is not what banks were chartered to do.
John Corsine at MF Global decided to take a big position on sovereign debt using margin and took a bath. When it was time to caught up the money for his losses he took customer money that was entrusted to him and gave it to JP Morgan to cover those losses.
New York City is a cesspool of bankers fiddling with public markets and financial corruption.
in reply to: Miscellaneous #5249The president of Sutter Gold lives in my town and is also on the Board of Directors of Agnico-Eagle Mines out of Toronto. The next time I see her at Safeway I’ll ask her how she gets along with the State.
in reply to: Miscellaneous #5248Recently a mine operation in
Amador county has “commenced”
operation according to the local
Sacramento Media. It would appear
that company either has a good
repor with local media or has hired a dandy publicist. I think
the Origsix might want to take
note. The Amador Mine gets to
MINE, the Origsix doesn’t. I
wonder why?in reply to: Gold Enters Major Bull Market #5247Gold $1598.20 UP $8.80
Silver $29.38 UP $0.11Comments below are Stephen Leeb’s from an interview yesterday at King World News:
“You are going to have a lot of currency devaluation. You are also going to see massive inflation. Everybody knows what that means for gold.
So you are in the last hours of turbulence for the gold market (to the downside). Once this correction ends, you are going to have a barnburner to the upside. Gold will just vault. I don’t think investors will even remember these frustrating days. I had been warning we could see this drop in gold because of the problems in Europe, but investors should take advantage of it.
Look at what China is doing. China is buying gold hand over fist right now. They are going to move the yuan forward as the world’s reserve currency and it’s going to be partially backed by gold. The world can also expect to see a gold standard imposed on Europe in the next 12 to 18 months.
The junior gold stocks, the ones with honest to goodness reserves which have not been developed, they will see one of the greatest, if not the greatest bull market of all-time.
But many of the big stocks have become like dinosaurs. Stocks like Newmont and Barrick don’t have enough gold in the ground. So what’s bad for Newmont and Barrick, is incredibly good for gold. We are sitting on the cusp of what may be the greatest bull market we’ve ever seen in our lifetimes.”
in reply to: Miscellaneous #5245Warren Buffett, in a recent interview with CNBC, suggested that he could balance the budget right away.
He said: “I could end the deficit in 5 minutes. You just pass a law that says that anytime there is a deficit of more than 3% of GDP, all sitting members of Congress are ineligible for re-election.”
in reply to: Miscellaneous #5246And…we won’t hear that reported in the “news” any more than we won’t hear it reported that the Bam proposed “Buffet Rule” has been widely slammed by Mr. Buffet himself, which he is on record as mischaracterizing his true perspective of taxation increase reaching the extemely etreme rich for whom 100 mill is the launch point.
Yup. No mention of Buffet’s remarks in the “media” except those reporting in reality mode….which summarily get dismissed by the clones.
in reply to: Gold Enters Major Bull Market #5244Just in case you missed this one:
Up to 13 states Now Seek to Coin Gold & Silver as Currency
By Blake Ellis
Worried that the Federal Reserve and the U.S. dollar are on the brink of collapse, more than a dozen states have proposed using their own alternative currencies of silver and gold.
NEW YORK (CNNMoney) — A growing number of states are seeking shiny new currencies made of silver and gold.
Worried that the Federal Reserve and the U.S. dollar are on the brink of collapse, lawmakers from 13 states, including Minnesota, Tennessee, Iowa, South Carolina and Georgia, are seeking approval from their state governments to either issue their own alternative currency or explore it as an option. Just three years ago, only three states had similar proposals in place.
“In the event of hyperinflation, depression, or other economic calamity related to the breakdown of the Federal Reserve System … the State’s governmental finances and private economy will be thrown into chaos,” said North Carolina Republican Representative Glen Bradley in a currency bill he introduced last year.
Unlike individual communities, which are allowed to create their own currency — as long as it is easily distinguishable from U.S. dollars — the Constitution bans states from printing their own paper money or issuing their own currency. But it allows the states to make “gold and silver Coin a Tender in Payment of Debts.”
To the state legislators who are proposing state-issued currencies, that means gold and silver are fair game, said Edwin Vieira, an alternative currency proponent and attorney specializing in Constitutional law. And since gold has grown exponentially more valuable, while the U.S. dollar continues to lose ground, the notion has become increasingly appealing to state lawmakers, he said.
The state gold rush: Utah became the first state to introduce its own alternative currency when Governor Gary Herbert signed a bill into law last March that recognized gold and silver coins issued by the U.S. Mint as an acceptable form of payment. Under the law, the coins — which include American Gold and Silver Eagles — are treated the same as U.S. dollars for tax purposes, eliminating capital gains taxes.
Since the face value of some U.S.-minted gold and silver coins — like the one-ounce, $50 American Gold Eagle coin — is so much less than the metal value (one ounce of gold is now worth more than $1,700), the new law allows the coins to be exchanged at their market value, based on weight and fineness.
Local currencies: In the U.S., we don’t trust
“A Utah citizen, for example, could contract with another to sell his car for 10 one-ounce gold coins (approximately $17,000), or an independent contractor could arrange to be compensated in gold coins,” said Rich Danker, a project director at the American Principles Project, a conservative public policy group in Washington, D.C.South Carolina Republican Representative Mike Pitts proposed a currency system that would allow people to use any kind of silver or gold coin — whether it’s a Philippine Peso or a South African Krugerrand — based on weight and fineness. Pitts said in the bill, which currently has 12 co-sponsors, that the state is facing “an economic crisis of severe magnitude.”
Republican representatives from Washington State followed suit in January, introducing a bill that would also allow any gold and silver coins to be considered legal tender based on metal values. Minnesota, Iowa, Georgia, Idaho and Indiana are also considering similar proposals.
Many of the bills would make it possible for residents to exchange the physical coins for goods and services, so you could use coins to buy anything from groceries to a car as long as the store chooses to accept them.However, most people aren’t going to walk around with such valuable coins in their pockets, said Vieira. Plus, calculating the value of the coins — especially if they come from different parts of the globe and are of different sizes and shapes — will get tricky.
It’s more likely that the states will create electronic depositories and accounts for the coins to make transactions easier, when and if the initial bills are passed, he said.
Utah Gold & Silver Depository is already developing a system where customers could use debit cards linked to their gold holdings. When customers swipe their debit cards to make transactions, physical gold and silver coins would be transferred between accounts in privately-owned depositories (or vaults) based on the market value of the metals.
Before deciding on a specific form of currency, some states — including Minnesota, Tennessee, Virginia and North Carolina — are considering proposals that would first require a committee to review their alternative currency plan.
The future of U.S. currency: The states’ proposals have been gaining steam among Tea Partyers and Republicans, many of whom also endorse a nationwide return to the gold standard, which would require the U.S. dollar to be backed by gold reserves.
Tea Party “father” Ron Paul is sponsoring the “Free Competition in Currency Act,” which would allow states to introduce their own currencies, and rival Newt Gingrich is calling for a commission to look at how the country can get back to the gold standard.
But it will be the individual states that could really get the ball rolling, said Vieira. Even if several of the current proposals get killed, the introduction of so many bills at the state level is drawing national attention to the issue, he said.
Funny money: 11 local currencies
Of all the state proposals circulating right now, Republican-controlled states including South Carolina, Georgia, Idaho and Indiana have the best chance of passing their proposed bills this year, said American Principles Project’s Danker. If just one or two states implement an alternative currency, it could have a Domino effect, he said.“I think we could get a couple passed in this legislative session, and that would show this is mainstream, popular and it would be a justification for more of the risk-averse states for doing this,” he said.
in reply to: Ideal Time for Facts #5242Our Company has been aware of the following, discussed it and planned to mitigate the conclusions expressed by the thought expressed below by Ahead of the Heard. The Sixteen to One will overcome the threats due to our foresight and circumstances.
A combination of mass retirements and increasing natural resource demand from emerging economies has created a crisis in the resource extraction sector – one which is definitely not on investor’s radar screens.
Currently there is a “massive talent gap” that is going to get worse because the global mining industry is experiencing the biggest wave of workforce retirements in 70 years – the oldest baby boomers turned 65 years old in 2011.
The Mining Industry Human Resources Council (MIHRC) has recently said that about 40% of the resource extraction industry’s workforce is at least 50 years old and one third of them are expected to retire by 2022. .
Increased resource demand is driving demand for skilled workers. A shortage of skilled workers was the second biggest business risk for mining in 2011 (as it was in 2010) and is forecast to be the number two risk (resource nationalism/country risk is the number one risk) for miners again in 2012. In the coming years a lack of skilled workers is going to be the major cause for concern in the resource extraction industry.
“Given the aging profile of the current workforce and a lack of engineers and geologists with enough experience, the labor resourcing requirements for new mining projects at various stages of development across the globe are simply not going to be met. Production targets and project deadlines are inevitably going to slip. The time taken to train a mining professional can be up to five years, but it is the candidate with around ten years experience who is in particularly short supply. A failure by the mining industry to recruit and train during the tough times in the 1990s, when the price of metals plummeted, has led to particular shortages of mid-career professionals.” Mining Global Employment Review 2011, Faststream RecruitmentJust when we need it the most the mining industry is starting to suffer a massive loss of accumulated wisdom, knowledge and field experience. This loss of experience, when combined with labor shortages, means future mineral output will be constrained and that has bullish implications for prices.
in reply to: Ideal Time for Facts #5243Michael Miller’s message below rings a loud bell!
I have seen the Chinese walls that extend 1000-ft below the one-lane treacherous decent into the Kanaka Creek on Tyler Foote Crossing (scariest road I’ve ever driven) and peek over the edge with wondrous abandonment:
How did they do that??
Michael’s message below brings forth the message that historical knowledge must be nurtured, lest be lost.
It takes a strong will, unfathomable strength of character and will, to even go underground and break rock….I only know this because I have only witnessed it, a very few times first-hand, and nothing close to the reality is takes….scared the crap outta me to even live it for a few hours….
The only, ONLY way this knowledge can be shared, the wisdom passed along for future exploration, empowered by the passion it takes to even try, is to have the freedom to do so.
in reply to: Miscellaneous #5241Below is an excerpt from today’s International Forecaster.
in reply to: Miscellaneous #5240Government’s attempts to control the people by directly manipulating economic indicators parallel Pavlov’s conditioning of dogs. Pavlov started by ringing a bell whenever his dogs were fed. At first, the dogs only salivated when the actual food was provided. But later, after the dogs had become “conditioned” to “pair” (associate) the presence of food with the ringing bell, the dogs could be made to salivate by merely ringing the bell, even when no actual food was provided.
For the dogs, the ringing bell was an “indicator” similar to the thermometers in our apartments(Do you really control the room temperature by artificialy stimulating the thermometer?) or the government’s reports of GDP, inflation, unemployment and prices. Just as Pavlov’s dogs were conditioned to salivate at the sound of a ringing bell, Americans have been conditioned to borrow and spend currency to purchase cars, homes, equities and commodities (or even to have confidence in the gov-co) by “ringing the bells” called “stock market indices,” “unemployment percentages,” “inflation rates” and “prices”.
in reply to: Gold Enters Major Bull Market #5239You won’t be reading the following in any newspaper or having the content being reported on your TV.
Jim Sinclair’s Commentary
Just a reminder.
Dear Friends,
The European Stabilization Mechanism Treaty due to pass in July this year will take care of whatever money is required by Spain or any other Euroland nations for effective bailout. It starts with $700 billion in capitalization and has an open call for additional capital infusion with no limit placed on these calls and no further agreements required.
New additional capitalization called on by this treaty is mandatory, not elective and therefore will go to infinity.
The member nations have 7 days to pay up when ordered to by the management of the EMS who are protected against any form of attack or litigation to legislation. It will be backed by the US Fed via swaps while the US publicly denies it is adding any capital to the IMF or this new entity, ESM.
It is the mechanism for QE to infinity in Europe.
QE to infinity, properly understood, is debt monetization on steroids. Denials will be legion, but this debt monetization on steroids will not and cannot be avoided.
The advent of the ESM Treaty establishing the European Stabilization Mechanism is economically Earth shaking and recognized by almost no one out there. It cannot be otherwise, it cannot be avoided. It can de denied but it will occur.
Respectfully,
Jimin reply to: Gold Enters Major Bull Market #5238Swiss refiners can’t keep up with gold demand
posted on May 03, 12 11:51PM
Egon von Greyerz continues:
“At the same time, we are reading that a number of central banks are buying gold. So the nonsense coming from the mainstream media that people are not interested in gold is completely false. We are seeing massive accumulation of physical gold. This decline today is clearly only in the paper market.”
“Once people wake up to the fact that the paper market is not even a real market, meaning it’s a false market that can never deliver the real goods, once investors realize this, that is when people will really panic”….
The full interview from King World News:
in reply to: Gold Enters Major Bull Market #5237Gold $1635.60 DOWN $18.10
Silver $30.07 DOWN $ 0.58It just seems the constant stacking of the cards against the public holders of gold with more and more price suppression at the Comex Casino will never end. The only thing that can be stated is that it will always the darkest prior to the new day.
When the metal finally raises its horns again it will become chrystal clear that the current days of the paper charades will be over for a while. The fact remains the western central bankers will defend their fiat currency, so-called money, with no expense limiting them even though their taxpayers in the end will be forced to accept all and every sale that was NEVER backed by physical gold. Iq believe everyone with a rational mind accepts this, sadly but true.
The miscreant’s attacks are planned and well orchestrated. In the last big attack these boys took the metal below $750 in 08′ from just over $1000. Even though they are back to their old tricks again for the past year they constantly have to keep selling gold at higher and higher prices. This is the reason that wider and wider price swings are in order for the months and years ahead but the percentage moves should be about the same.
A few hours ago at today’s lower price of $1636.60 more gold was acquired and it won’t be sold until years later.
in reply to: How to Approach Thin Veins & Cost #5236WE have identified a site underground worthy of spending time and money to produce gold. Its initial prospects were known from the mine’s historical production records as a significant home for a significant pocket or concentration. The area above yielded 19,000 ounces. The vein below yielded 83,000 and was the largest pocket recorded in all of California. Over the years large slabs of the hanging wall fell and has covered the quartz. The area is a short distance from the portal. Track and utilities are nearby and will require modest time and material to set up for exploration.
Of the three factors for profitable gold mining (men…mineral…money) only money is lacking. If you or people you know have ever had a twitch to join a legitimate treasure hunt, step forward. A limited partnership is the vehicle to get involved. Your investment should qualify for an expense. Your in-kind share of the gold should not become a taxable event until it is sold. The budget for this target is $250,000. The minimum share investment is $25,000. The maximum share investment is $250,000. No widows or orphans, please unless you have the net worth to take the risk.
What about the risk? All mining ventures have risk, some more than others. During the past two weeks, we have explored the area with metal detectors (it is larger than a football field). Gold was found in five different places, which is an important discovery. This target is in the heart of the mine.
The time to complete the project is estimated at three months. Interested? Write me or call (530) 287-3223. MMM
in reply to: Miscellaneous #5235From http://www.jsmineset.com:
Jim,
Except for the Social Security Trust Fund, the Fed is now the largest holder of Treasury debt.
QE is the only way left to sell the debt. So how can they stop doing it?
Best,
CIGA HankHank,
Once you have started QE in a recession lacking an ebullient economic recovery, you cannot stop QE. It is impractical as the house of trillions of cards will come tumbling down the same day you really stop.
Jim
in reply to: Miscellaneous #5234The Primary Owners of the Federal Reserve Bank Are:
Submitted by truth supporter on Sat, 01/03/2009 – 14:07
in Daily Paul Liberty Forum“The Primary Owners of the Federal Reserve Bank Are:
1. Rothschild’s of London and Berlin
2. Lazard Brothers of Paris
3. Israel Moses Seaf of Italy
4. Kuhn, Loeb & Co. of Germany and New York
5. Warburg & Company of Hamburg, Germany
6. Lehman Brothers of New York
7. Goldman, Sachs of New York
8. Rockefeller Brothers of New York
All the primary owners are branches of European establishments. Foreigners control the United States Money supply.
in reply to: Gold Enters Major Bull Market #5233Gold $1662.20 DOWN $2.10
Silver $31.16 UP $0.15An outstanding gold analyst, Alf Field, has stated that gold has bottomed following 12 months of declining prices. Within the big picture, western central bankers apparently have exhausted their resources, for the time being, for price suppression and the metal is ready to resume its upward march to new higher levels.
These central bankers and the people supporting their efforts behind the curtain will continue to fight gold as when gold moves higher their power influence over all of us is percieved by them as being reduced. One very important aspect of our financial well being is to keep a great distance away from their Monopoly money as best as we can.
It was back in 2008 that a great concerted effort was taken aligning all their forces to prevent gold from moving above the $1000 level. The thought of the metal bettering $1000 just petrified them for a while and then they went into action. Major US banks accommodated them with massive naked shorting of gold and silver in the first half of 2008 and other cohorts, a few major hedge funds, were to go into action a few months later selling shares they never owned with a vengeance.
Later in early July and for weeks later gold and silver were slammed along with the related shares, it was a real slaughter, gold went to $750 and later a little lower and the share’s value were cut in half. All this is history now with the important facts remaining: they were successful in scaring folks only over the short term BUT long term, THEY FAILED and will continue to fail as long as they persist in creating more and more of their Monopoly money while they cling onto their power throne and herd the people into financial slavery at increasingly alarming rates.
The western central bankers are after our hides in the worst way. PROTECT YOURSELVES with gold and silver and the related companies.
in reply to: Gold Enters Major Bull Market #5232Recent comments from the accomplished Stephen Leeb:
“When asked about gold, Leeb responded, “Gold may get hit if Europe does fall. There might be selling of gold for liquidity. If gold does get hit, it will be one of the greatest buying opportunities people will see in their lifetimes, but it may not happen. My point is if you are fully invested in gold, stay there. In a few years you will find you are very wealthy. If you are 50% invested, buy the dip if one materializes.
China is buying gold because they know what is happening. This is a recipe for the Chinese yuan becoming the new reserve currency because they are accumulating a lot of gold that will probably be used to back the yuan.
What is that going to mean for the dollar and inflation in the West? It’s going to go to levels that we’ve never seen before. This is a when, not if event. And the when is, when is gold and silver going to soar to the sky?
I don’t even have a target for gold anymore. Investors need to be careful with anything that is denominated in dollars and paper. You have to be in hard assets in order to survive this cycle.”
in reply to: Gold Enters Major Bull Market #5231I heard something interesting yesterday from a major coin dealer in Phoenix: The public has been doing a lot of small lot selling of gold and silver coins while the sales have been offset by fewer, larger buyers.
This is what usually takes place from my experience during the bottoming process. Gold has been in a corrective consolidation pattern for the past 12 months.
The MACD converging short term chart moving average lines have gone flat, thus indicating that the selling pressure on gold has been neutralized.
Although the 50 and 200 day average lines are above gold’s last sale, I suspect gold has been manipulated lower to reflect a short term negative environment. Aside from this ambiguously painted picture, gold appears in the early stages of rearing its head up again.
The key to ultimate success in preserving your wealth is with on-going purchasing of gold and silver coins ahead of these new anticipated updrafts during the current bull market.
Still, keep some funds available for any “behind the curtain” sponsored shake-downs as they have a tendency to crop up.
in reply to: Clips from Alleghany #5228Support your local Sheriff as he or she is for the locals as opposed to the folks who are debasing the Constitution.
Great story below:
in reply to: Clips from Alleghany #5227Scoop
Thanks for the updates on the property.
Concerning our potential to be somewhat energy independent, I considr PG&E’s rejection for us to produce natural clean water power to be completely irresponsible and a act of terrorism against the mine and the local community.
PG&E being allowed to dictate to us and the folks of Alleghany “what we need” is another complete failure by regulators and proof government has become to big. This whole thing should have been approved on the local level and enforced by the Sheriff who has the ultimate power aside from the State and Federal wishes. Make no mistake about this, the Sheriff has the authority, he just has to believe it.
Not even allowing us to have, at the least, an emergency source of back-up energy in the case of any serious electrical interruption is quite simply to me, criminal.
As example of their stupidity: what happens when solar flare activity reaches its greatest intensity in December when electric motors generating electricty become effected and the mine and the city of Alleghany goes black? Wouldn’t the potential of water power be a better bet to keep the mine and the city running?
Who knows what other natural disasters may be coming our way? Intelligently preparing for the unexpected is how to run a company, a city, a county, a state and a country.
Even the US government has built a multi-billion dollar facility underground at the Denver Airport in case of potential disasters with their own self generating power source along with other supports to sustain life. Is an electrical producing company telling them what to do?
Of course, in an emergency we will never be able to gain access to this facility, its for government employees, their families and their friends. So, PG&E because of their their short sightedness or continuing profit motives or complete dumbness have actually reduced our chances to survive emergencies.
I guess they have the same mental deficiencies that big brother has in handing out our money in the form of million dollar bonuses to the administators of Fannie Mae and Freddie Mac who have total losses each quarter of $6 billion. What a joke! Not to mention all the other financial handouts of our money to the folks who supported the winners of political elections.
Someday the power to Alleghany will be cut-off for an undeterminable period of time and that’s just the way its going to be. PG&E is not god. What have they have done by rejecting our Phelton wheel is a crime against the people of the mine and the city of Alleghany, I kid you not.
in reply to: Clips from Alleghany #5230The name of that water wheel is
Pelton, invented by Lester A.
Pelton. He was a member of the
Masonic group in Camptonville.
There today is a company, I think
it was Baldwin Lima Hamilton who
built impulse turbines used in
power houses generating power.
The Company built their turbines
at their “Pelton” division.in reply to: Clips from Alleghany #5229Past interesting comments from the Supreme Court concerning balance of power for the protection of our liberties that the Founding Fathers gave us, one and all.
in reply to: Clips from Alleghany #5226Two calls asked for more on the weather, inspections and the mine. The weather is always a topic of interest and the past months were no exception. Weather does not affect the underground mine. Conditions are about the same every day and night. Heavy rain caused a lot of damage to the long roads from the mine gate to the portal. Right now an Excavator, back hoe, D-6 dozer, a grader, a dump truck and a 966 Cat front end loader are on the mine site repairing the damage. TV news reports the weather and says, “Scattered showers in the Sierra.” Well, Alleghany took some major hits from those scattered showers. Interestingly, there were no slides affecting the mine roads. Highway 49 and the Ridge Road into Alleghany suffered many slides plus down trees.
Alleghany also had scattered warm spells during the winter and spring, very few snow storms and only two power outages. Scoop took off on snow shoes two Saturdays ago and last Saturday sweated outside during maintenance chores.
The announced exploration project is moving ahead with the usual unexpected problems associated with setting up a new heading. The air compressor acted up for three shifts by cutting out , which affects drilling, loading the drill holes and running the mucking machine. Compressed air is the blood of this mine and electricity is its fuel. Too bad that PG&E chose not to support developing the mine’s abundant on site water power. Too much talk about conservation and too little support from both business and government. This mine was green before the concept of green appeared.
Those inspectors keep showing up: CAL/OSHA and federal MSHA. Mike likes qualified inspectors to help keep the safety standards first rate. Years ago when MSHA first was established the inspectors could make suggestions without writing a citation. Now MSHA has inspectors following other inspectors to snoop around and see if the initial inspector failed to write up a potential citation. Too bad! All these regulating agencies must change from cop/ lawyer/judge/savior mentalities.
MSHA sent a pleasant young inspector to the mine last month that had no underground mining experience. His two citations are being challenged, which a good process built into the regulations. He saw a crack in a rock and thought the miners’ safety was in danger. The crew bared down the rock, creating a dangerous situation which required placing two stulls in the area. They told the inspector that the situation did not require barring down due to the location and quality of the rock but did the work only because he considered in dangerous. It cost the crew a day. Mike wrote a letter to MSHA and suggested they set up an underground training program at the Sixteen to One so future inspectors without experience in the Sierra Nevada gold mines don’t freak out when they see a crack.
in reply to: Clips from Alleghany #5224Where has Scoop been lately? Busy as a bee maybe busier!
An OSHA inspector came up and inspected the mine yesterday. It went well.
16 to 1 is trading scrap metal for road grading as the road to the mine was in very bad shape. The old D8 that hasn’t been used in close to 20 years was seen leaving Alleghany on a flat bed truck the other day. Wonder how much it weighs?
The 2011 annual reports should start hitting the “printing press” (copy machine) later today.
It is raining in Alleghany after a week of incredibly warm weather. On Friday April 13th we awoke to 3 feet of fresh powder on the ground. It melted quickly!!! Looks like spring in the mountains with the daffodils in bloom.in reply to: Miscellaneous #5223The sure way to start the implosion of a civilization is to “deep six” the Rule of Law. Martin Armstrong elaborates:
http://www.martinarmstrong.org/files/Rule%20of%20Law/index.htm
in reply to: Gold Enters Major Bull Market #5225An excerpt from an article published yesterday by Jim Willie:
The USDollar appears to be topped out. As it falls, the global cost structure will be lifted again. Most commodities are priced on a US$ basis. Big challenges are in force against the global reserve currency. Aggravating the effect is the chronic high oil price.
The Iran effect is felt, not going away, only to grow worse as the backfire backlash develops into new platform systems. See the Hat Trick Letter in the April edition for much greater details on all these critical matters as history is being made. Sadly, the history is the final chapter of the USDollar and its written epitaph.
Americans appear to be the least informed on current events and risk levels. Many will see their life savings, their pension plans, and other valued assets suffer great loss since they have not put in place protection from the imploding beleaguered USDollar. The lost value of their homes is but the beginning of their great loss.
That warning has not been heeded effectively by the majority of the masses, who qualify as sheep. Steps are difficult to make, but they must be made. Gold & Silver offer the best such protection in the form of bars and coins, kept outside the US and UK, the axis of fascism.
in reply to: Gold Enters Major Bull Market #5222REAP
Thanks for the excellent information.
Gold $1644.30 UP $2.80
Silver $30.63 DOWN $0.20Excellent interview concerning gold and other financial topics. Sorry for the extensive link to the story.
in reply to: Gold Enters Major Bull Market #5221New IMF figures show at current rate central banks will buy almost 700 tonnes of gold this year
Gold slipping over 3% over the course of March, averaging $1,676 for the month, prompted central banks to stock up on the yellow metal IMF data showed on Tuesday.
Led by Mexico and Russia, central banks from 11 countries and the Eurozone added a combined 57.9 tonnes of gold in March.
in reply to: Miscellaneous #5220The answer to productivity is to repeat what has worked before. Just past midway of the following linked video of the April 22, 2012 Schiff Report it starts to get quite interesting:
http://www.europac.net/media/video_blog/stimulus_high_fading_dollar_gold_history_according_obama
in reply to: Gold Enters Major Bull Market #5219Gold $1631.70 OFF $10.70
Silver $30.75 OFF $ 0.95Gold continues to be pressured lower, down nearly $300 from its recent all-time highs above $1900.
Gold is being dragged down by folks who fear it, causing unrest with those who own it. The whole affair is a game of numbers. Gold is gold and will always be gold, a store of wealth.
The miscreant pressure on the metal may very well be the last bold attempt to suppress it before reality sets in. The big lingering question is, at what price and when in time will this all end?
During bull market contractions the name of the game is scale-down buying. Forget the news being fed to you and the concern of lower price, just close your eyes and buy into this resting period. It will just be a matter of time until the bull raises his head again.
http://www.chrismartenson.com/blog/harvey-organ-get-physical-gold-silver/73933
in reply to: Ideal Time for Facts #5217From the Casey Wire:
If history has taught one certain lesson, it is that the less fettered an economy, the better humankind is able to do what it does best: run from trouble and run toward opportunity. In this way mistakes are quickly resolved and progress assured.
Conversely, the deeper the muck of regulation, mandates, taxes, subsidies and other bureaucratic meddling, the slower we humans are in following our natural instincts until the point that progress is slowed or even stopped.
It is said that history doesn’t repeat itself, but it often rhymes. In the current circumstances, it appears that enough time has passed that current generations have completely forgotten the critical connection between the ability of humans to freely pursue their aspirations and economic progress.
in reply to: Miscellaneous #5216The Bankster Gangsters Continue To Maul The Public
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