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- in reply to: Water and Arsenic: which came first? #3714
Any regular source of income for the Company is a step in the right direction. One thing that has amazed me from historical readings of the Alleghany Mining District was that miners lacked the planning for the time expense between discoveries with financial reserves.
Once profitable deposits are located and mined one might suspect that it could easily develop into expensive celebrating and parties and a time to pay off debt but wouldn’t it be better to not have debt at all and do some serious planning with the extra revenue?
Planning for the future and taking steps to insure that probabilities favor mining companies in the District appears the right approach.
Following up with the planning and the commencement of hydropower production on our property has another advantage. Once we become self sufficent with renewable energy we will be joining the world’s green investment family with some improved PR status.
Companhia Vale Do Rio Dove, Vale for short, the world’s second largest mining company in Brazil has formed a separate subsidiary for the development of renewable energy. The whole country of Brazil is involved in a massive renewable energy rollout.
Another thought aside from hearing that wine has been stored in the mine, would be for using or selling the mine space for safety to exist in the event of a nuclear fallout or a massive eruption from Yellowstone. As long as the water keeps flowing assuming that we will be running a hydroplant plant, the mine could be used for living quarters and growing food. In the event of such a catastrophe green could turn into another form of gold for shareholders as the unused mine tunnels could turn into quite a valuable asset.
Bringing up the possibility of disaster may not be popular but it is just part of rational planning.
in reply to: Gold Enters Major Bull Market #3711Gold’s last is $915.10.
The US dollar looks like its months of recent strength are nearing a close. In today’s activity the dollar is quite weak against the Euro and Cando. The Loonie is up 1.52% at .8682 and continues to advance against the sagging dollar. Overall, the Dollar Index if off 0.62 today at 83.21. For some past weeks it had found support at the 84 level.
I guess George Soros knew what he was doing by selling the dollar in the 85.00 to 86.00 zone and above recently. It was fairly easy to pick this up from a recent Bloomberg interview of him when he was asked the question, What do you think of the dollar? Soros’ comment was, “No comment.” To me, that meant that he was in the midst of a US dollar currency positioning operation.
Chosing whether he was buying or selling was, also, not too complicated. Was the dollar at a international public orientented top or bottom? Easy guess, a top.
With the dollar breaking recent support at the 84.00 level, this event is expected to be mirrored in the time ahead with a rising gold price. Yes, it is time for us to show the world our hidden and elusive gold.
I always enjoy reading Dave’s and Rick’s well thought out comments.
in reply to: Gold Enters Major Bull Market #3713Gold closed the week at $916.20, up about $16.
The dollar(USDX) closed out the week at 82.41, off about 2.50.
One last entry on the US Dollar from Jim Sinclair tonight at http://www.jsmineset.com:
My Dear Friends,
Under USDX .8200 the wheels of hyperinflation start turning.
Under USDX .7200 the impact of hyperinflation is visible to anyone who can see.
Under USDX .6200 the Quantitative Easing madness hits the fan
Under USDX .5200 Zimbabwe economics now being practiced become a US dollar condition moniker.
PROTECT YOURSELF PLEASE!
Respectfully yours,
Jimin reply to: Gold Enters Major Bull Market #3712Last on gold is $916.20.
The following remarks concerning the Dollar were made by an agoracom.com poster.
Terresainte is from Geneva
Dollar on retreat today -1.8% vs euro, -2.2% vs swissie
posted on May 08, 09 02:53PM
Would this be the beginning of the managed dollar takedown, e.g. vs hard currencies gold, silver? a hidden tax on dollar denominated holdings and purchasing power, no legislation or anything required. For foreign currency holders precious metals would get more attractive.
Warren Buffet: “With political leaders showing little inclination to raise taxes, one sure way to pay for excess spending is to inflate the value of the currency, Buffett said. The biggest losers in a surge of inflation, he added, would include holders of bonds and other fixed-income assets.
I haven’t had my taxes raised,” said Buffett, “My guess is the ultimate price will be paid by a shrinkage of the value of the dollar.”
Jim Sinclair and Martin Armstrong have said the next contact with gold at $1,000 which makes it its third attempt, pushes it through for good. From here on out, it’s China versus the COMEX boys.
I vote with the guy who holds almost 2$ trillion in foreign reserves.
in reply to: Gold Enters Major Bull Market #3710That is better than taxing flatulent activity
in reply to: Gold Enters Major Bull Market #3707Last on gold is $912.60.
/More on China/
U.S. Dollar, Yuan and the New Reserve Currency
Chinese are making small moves to get more and more insulation from the dollar.By Vadim Pokhlebkin
Thu, 02 Apr 2009 10:00:00 ET Email | Print | RSS | My Updates Bookmark and share It!There has been a lot of talk lately about replacing the U.S. dollar as the world’s reserve currency. Read these thoughts on this and another hot subject — China’s dependence on the dollar — by Chris Carolan, the editor of Elliott Wave International’s Sunday-Tuesday-Thursday Asian-Pacific Short Term Update. (Excerpted from the recent APSTU issues.)
…the Chinese have announced that they would like the world to establish a reserve currency alternative to the dollar, perhaps under the auspices of the IMF. The U.S. has responded (through Paul Volcker) that the Chinese have created their own predicament by not allowing the yuan to float higher. But we believe that the larger trends to watch are the inevitable leadership role that the Asian-Pacific markets will play in the next bull market as they have access to cheaper capital than the debt-stressed West.
We think that people who focus on the alleged Chinese problem of holding too many dollars miss the point. In the long run, they can reduce their new dollar positions, while the U.S. government is, through their recent actions especially, committing themselves to issuing greater and greater amounts of dollar debt. The Chinese can (and may) push themselves away from the table, but the U.S. does not have the luxury of that freedom.
The yuan, whose exchange rate is controlled, seems to be pushing higher within the boundaries of its restricted trading. [This] chart shows the dollar falling relative to the yuan.
(Sorry chart would not transfer)
How will the Chinese cut their exposure to the dollar over time? News accounts tend to focus on one big event, such as the possibility of a new reserve currency to replace the dollar. But in all likelihood, the Chinese will be making a series of moves, each one gaining them a little bit of insulation from the dollar. If they can protect one hundred billion (US$) here and another one hundred billion there, pretty soon they will have cut their dollar exposure significantly.
We highlighted one such action in our recent discussion of China’s move into owning more resources as a way of diversifying out of the dollar. Now comes news of China executing more currency swaps, where they trade yuan for a local currency, thereby allowing that trading partner to use the yuan in future trade with China. These swaps then remove the need for dollars as an intermediary exchange between trading partners. The Chinese have signed six such swap agreements since November totaling $95 billion. The latest swap agreement is with Argentina.
Step by incremental step, the Chinese are solving their dollar problem, or at least ameliorating it. Those looking for that one big news event to signal the dollar’s irrelevance may be missing the trend, though such an event may still occur further out in time
in reply to: Water and Arsenic: which came first? #3706As promised, here’s Ron’s report. The original has many beautiful and purposeful pictures. Unable to post photos on FORUM.
.
Hydropower Pre-feasibility StudyPrepared for Original Sixteen to One Mine, INC
February 2009
Prepared by RON OTTINTRODUCTION
This pre-feasibility investigation was conducted to determine if waterpower could be used to generate environmentally clean energy that would offset the amount of energy and thus cost provided to the Sixteen to One Mine (16 to 1) via Pacific Gas and Electric Company (PG&E). Sources and amounts of water available for hydropower generation were measured (Flow). The available water drop or pressure head (Head) was estimated from topographic maps. Amounts of energy that could be generated were estimated and amounts of energy and cost that the mine uses was estimated to determine the potential cost savings. Estimates were then made on the cost of the project and finally the contract and interconnection requirements were instigated with PG&E.
FLOW
Flows were measured at the Main Spring four times over the course of the year using a 5 gallon bucket and stop watch. The combined flows of the white and black pipes as they entered the collection tank follow:Date Flow (cubic feet per Second –cfs)
9/21/07 0.21
2/8/2008 0.28
3/21/2008 0.20
11/26/2008 0.25
Average 0.24 cfsFlows were also estimated and measured from other springs and seeps in the area around the Main Spring. Theses estimated follows are shown in the table below.
Date Gold Crown Culvert Gold Crown Upper Pond Lower Dam Spring Culvert
9/21/2007 0.13 0.28 0.13
2/8/2008 0.10 0.22 0.10
3/21/2008 0.14 0.31 0.14
11/26/2008 0.11 0.23 0.11
Average 0.12 0.26 0.12.Flow summary:
Main Spring 0.24 cfs
Other springs and seeps 0.50 cfs
Total: 0.74 cfsHEAD
The available pressure head was calculated as the difference in the water surface elevation where the water enters the penstock and the centerline elevation of the nozzle at the turbine. Then the friction loss in the penstock was subtracted.Using elevations from topographic maps, altimeters, and Google Earth, the upstream water surface at the spring was estimated at elevation 4,420 feet and the elevation of the nozzle at the power house would be 3,804 feet. The difference or gross head is approximately 616 feet.
To determine the approximate friction loss in the 2,400 foot penstock, the penstock was assumed to be 8 inches in diameter and made of steel. With a flow of 1 cfs the head loss in the penstock would be approximately 15 feet.
Therefore, the Net Head available to the turbine is approximately 600 feet.
power
The power kW (kilowatts) available from any flow and net head combination can be calculated by:kW = (Q * H / 11.815 )(Eff)
Where:
kW = kilowatts (kW)
Q = Flow (cfs)
H = Net Head (feet)
11.815 = conversion factor
Eff = overall efficiency from water to power at the meter (assumed 85%)The following table gives examples of the approximate energy that could be produced with various size turbines that ran year round (assume 5 % down time for maintenance):
Water Source Flow (cfs) kW kWhrs/Year
Main Spring only 0.24 11.3 94,000
All springs and seeps 0.74 31.9 266,000
If full water right developed* 1.0 43.2 360,000
* It would most likely require storage to utilize the full water right of 1 cfsPG&E CONTRACT
In June 2008, 16:1 and PG&E executed a 20 year “Small Renewable Generator Power Purchase Agreement” for PG&E to purchase power from 16:1. The maximum rate to PG&E cannot exceed 50 kW and the generated power would be used to offset the power requirements of the Mine first. Any access power that the mine does not use would be purchased by PG&E at $0.0967/kWhr in 2009 escalating to $0.119/kWhr in 2020. There are factors used to adjust these rates daily depending on the season and time of day. They range from 2.037 for super peak in the summer down to .656 for night in the spring months.In the summer 2006 the mine purchased power from PG&E at the following rates:
Summer 2006 $/kWhr Total Cost for 2006 year
Peak 0.31618 $8,906
Partial Peak 0.15738 $14,021
Off-Peak 0.09511 $11,279
Total $34,206The optimum operation strategy would be to store the water in a small reservoir and run the hydroplant at full capacity to offset the super peak and peak energy purchases from PG&E.
If the hydroplant is run with little mining operations and no storage reservoir, the maximum revenue generated from PG&E would be approximately:Water Source Revenue $/year
Main Spring only $9,000
All springs and seeps $27,000
If full water right developed $36,000Given varying mine energy requirements, an operations study should be conducted to determine the size of reservoir in order to optimize the revenue.
COST
The major cost to the project will be the penstock and the turbine. Two preliminary budget estimates were received. One United States and one overseas manufacture. Both were around $50,000 for the turbine, switchgear, and spare parts.A price quote was received from Normac, Inc of Rancho Cordova for 2400 feet of 8” to 4” HDPE pipe. The quote for the pipe and fittings was $58,000.
Total Estimated cost for the Project is shown in the follow table:
Item Cost $
Diversion and water collections structure $10,000
Penstock HDPE pipe , 2400 feet $58,000
Penstock installation and restraints $10,000
Turbine and Switchgear $50,000
Powerhouse construction $15,000
Electrical to connection point $5,000
PG&E requirements for hookup $10,000
Misc. equipment and fittings $5,000
Total estimate $163,000NEXT STEPS
1. Get interconnection study completed by PG&E. This will determine the cost of any special facilities or insurance required to connect
2. Survey the project to determine elevations, lengths and alignment
3. Look into spring development
4. Run optimization study to determine size and location of small reservoir in concert with future mining operations and size of turbine
5. Prepare conceptual drawings
6. Prepare final feasibility study
7. Obtain exemption from FERC
8. Obtain final quotes and schedule of equipment
9. Order equipment
10. Construction
11. Install new PG&E meter
12. Register Project with the Western Region Electricity Generation Information System (WREGIS)
13. Test facility and commence operation.in reply to: Gold Enters Major Bull Market #3709Two major problems: 1) our national resources are being rejected as potential pollution, which is a complete oxymoron when economic analysis proves how importation of oil is far more costly than allowing the free market to bring forth our own natural resource oil, and 2) the current administration is doing everything it can dream up to not only kill the free market economy in this country, but condemn any capitalist incentive to see it achieve.
China is laughing its ass off, along with every other country that knows that taxing volcanoes would be about as sensible as hog-tying our own natural resources.
Hey, what a great idea! My new bumper sticker: TAX A VOLCANO, THINK OF THE REVENUE
in reply to: Gold Enters Major Bull Market #3708The reason the dollar has remained strong is because of our gross domestic production of a free market and its reliability to remain stable backed by all of our national resources.
The Chinese are a command economy, more efficient, but less innovative for the individual to drive for success.
Then there is the old quote ” He who has the most gold makes the rules” it is time for us to take the gold from the ground to display for the world to see.in reply to: Water and Arsenic: which came first? #3704To Oakrockranch: I forgot… you have the Golden- Royal underground tour on your next visit to Alleghany. You’ll love it.
in reply to: Water and Arsenic: which came first? #3703What a surprise I just got from Oakrockranch. It’s your comments and the gift of your thoughts, which are of value. I was just hoping for a fresh idea!
Ron Ott’s report arrived by email, which I will somehow get into this topic. I mirror emf with a sincere thank you. Running this old gold mine can get emotional sometimes…like now.in reply to: Water and Arsenic: which came first? #3702GOOD FOR YOU OakRockRanch and a sincere THANK YOU on behalf of all the shareholders!
in reply to: Gold Enters Major Bull Market #3705Last on gold is $913.80 in Asian markets tonight.
The most significant development for gold has been the recent announcement by China that they have secretly added gold to their reserves over the past few years with a well placed official stating that this trend should continue.
China for some time now has been bartering off US dollars for natural resources around the world. Since they hold large quantities of US Treasuries they have to be delicate in their divestiture of them. As they slide out of some of their Treasuries, it is at the same time they’re maintaining the posture that they continue to buy them but overall their holdings are being scaled down.
China is preparing for their future and it doesn’t involve the US dollar being the world’s reserve currency. China is increasing its central bank hoard of gold in preparation for the Yuan becoming the world’s reserve currency within 20 years or sooner.
The bottom line is that China has declared war against those who are manipulating gold’s price to prop up their ailing fiat currencies as they have being since Bretton Woods and before.
It appears that China, as the number one producer of gold, is no longer willing to stand idly by watching fiat central bank manipulation of the gold price. One has to only recall that it wasn’t too long ago that China suggested that the IMF sell its entire holdings of gold. Not only is China keeping all their domestic gold in country along with nibbling here and there on the international market, they want all the IMF’s gold. One can only guess what amount of gold they are looking for.
Our central bank has manipulated gold where it stands today, well below where their own skewed CPI figures dictates it should be somewhere in the neighborhood of $2500 an ounce just to keep up with the erosion of our money’s real worth.
The paper products shorting of gold at the COMEX by the bullion banks is just a matter of time before it all becomes history and blows up in the end. The supposed largest central bank holdings of gold by the US and Germany may very well be challenged in the not too distant future. It’s my belief that these two countries have known the jig is up for the past 18 months and are scampering to get the gold back quietly. Has anyone wondered where all the scrap gold sales that amounted to about 500 tons went last year? Who is running all these offers on TV to buy the public’s old gold jewelry for “quick cash” during this severe recession?
Let the games begin!
_______________________________________China wants to buy more gold
Posted Apr 24th 2009 6:20PM by Connie Madon
Filed under: International markets, China, Commodities, Financial CrisisIn rare public announcement, China has revealed its gold holdings, which are 1,054 tons up from 600 tons in 2002. Why is China’s gold pot of concern to us? Well, for one thing China has been moving away from the US dollar as part of their reserve holdings since 2005. China is increasingly worried about the world economies and wants to protect itself against any deepening of the world financial crisis.
China is also asserting itself on the world stage. Chinese leaders feel that the country’s gold holdings must be increased because of the size of China’a economy and the strengthening of its currency.
In a policy statement Hou Huimin, vice general secretary of the China Gold Association said that China should build its reserves to 5,000 tons. He feels that China should hold more gold than any other country because of China’s international status and because of the financial crisis. He further said: “The financial crisis means the US dollar’s value is changing fast and it may retreat from being the international reserve currency. If that happens, whoever holds the gold will be at an advantage.”
in reply to: Water and Arsenic: which came first? #3701Hey Mike – I’ll send you $500 with the hopes you can get this idea pushed further down the road and off the ground someday. As you know I’m not a shareholder, but truly admire your wisdom, passion, commitment and tenacity. My interests are simply human, with the belief that something grand will come of your efforts. Maybe I’ll even get a chance for a tour of the underground operations the next time I visit. All the best!
in reply to: Ideal Time for Facts #3697“How Wall Street And Washington Betrayed America”
http://www.kitco.com/ind/Wilson/may042009.html
Let the light shine brightly on the truth!
in reply to: Gold Enters Major Bull Market #3700Last on gold is $902.40
Effectively, Venezuela is reducing their gold exports by requiring the central bank to increase its purchases of the metal. Venezuela joins China in building up their gold reserves.
http://www.bloomberg.com/apps/news?pid=20601086&sid=a._KjQ1aRzBo&refer=latin_america
in reply to: Stock exchange listing #3698To Rockroby and others:
I’m hitting it every day and with all my creative business skills to get us back into gold production. Right now I’m writing the annual shareholder letter, which reviews the past year and offers a look into the future.
I have an activity (started in March) with one real financial party. We are optimistic, but it is premature to go into details. I was very disappointed when the financial crisis disintegrated the interest that was also real. Everyone disappeared. When a loan or other funding is completed, you will know. Until then all I can give you is the fact that after solving problem for our Company for many years, I am not quitting or taking a bad option . Please keep your interest positive. Mine are.in reply to: Ideal Time for Facts #3699In hind-sight, I wish it hadn’t turned into hind-sight….Bluejay, you called it when the Dow was still around 13500, and I didn’t get out and into gold, although…so I’m riding this one through, to a point. This time my exit point is quite relatively low.
Strange as it is, gold is a super buy, even at $1000, considering the looming inflationary inevitablity…yet another derivative. This time I’m listening.
in reply to: Water and Arsenic: which came first? #3696For years we talked about utilizing the waterpower from our spring to generate power for the mine. Two years ago Ron Ott, a shareholder spoke up and offered to lead the application through PG&E, our electricity provider. In 2007 and 2008 we accomplished a record of water flow throughout the year, calculated the cost and revenue, agreed to a purchase contract with PG&E and prepared the final document to PG&E. Oops, it required a $500 fee, which is not in our budget.
PG&E said today it couldn’t wave the fee due to FERC language. I asked about any grants or other sources to fund its review process. Some ideas may be forthcoming but no promises. Do any of you know of organizations that cry for green power and will put some money where their mouth is? This mine deserves some help. We are pro conservation and have been long before it became a battle cry throughout America.
I asked Ron to email me his analysis, which will be posted here once it arrives. Our citizens need to support domestic productivity from all sources. From grain to grapes to nickel, copper, oil, timber and gold, domestic production raises our assets. It also increases our security in these uncertain times. Finally, America cannot lose its basic or fundamental blue-collar industries. The Sixteen to One can help these causes as a leader in its field..
The total estimated cost for the Project is $163,000. The revenue generated (or saved) is approximately $36,000 a year. In June 2008, the PG&E and mine executed a 20-year “Small Renewable Generator Power Purchase Agreement” to purchase power from the Sixteen to One. The Project calls for a modified Pelton Wheel turbine. Interestingly, we have the historic number 01 Pelton Wheel still in place on our property where it was used to power our underground miners. How great an historical lesson to generate power once again. Mr. Pelton lived in Camptonville, about twenty-five southwest of Alleghany.
in reply to: Ideal Time for Facts #3695Good commentary, Bluejay.
One key phase that you wrote, “Doesn’t the government know…?” is unfortunately answered in truth:
My commentary, “Yes, with the super-majority, the government does know what it’s doing…”
And that is: a Statist agenda.
This is all happening not by chance, but by the purpose of destroying the free market.
in reply to: Gold Enters Major Bull Market #3694Gold $885.80
Silver $12.50
Gold/Silver Ratio 70.86
Gold/Xau Ratio 7.36
Canadian Dollar $0.8435The Canadian Dollar’s last sale is provided as an incentive for consideration to follow its action in the months ahead or take action as a result of its recently completed bottom formation against the US dollar when it advanced over $0.83. Smart money will be aggressively trading in their US dollars for Canadian dollars in purchasing Canadian gold orientented securities on any renewed strength in gold. In the mean time, these securities should have strong bids going forward as a result of the US dollar going negative against the Loonie.
Your secured cash wealth can be moved from US Treasuries into Canadian Government bonds with a great probability of success. Thus, avoiding continuing debasement of the US currency which the government likes to call inflation using their Mickey Mouse formula for it.
Just read in this mornings paper that Social Security increases for inflation adjustment will stop for the next two years. Whatever the cooked up reason is for this, it sucks. I guess the bankers are more important to them than are elderly which should require more respect than the government is willing to extend to them in their obvious time of need due to this cruel recession. Cut our Social Security inflation adjustments increases and keep handing out our IOU’s to the banks when they are the big screw-ups is not the way to make friends.
There appears to be a floor in gold market at $860 as a result of China’s declared intention to increase their gold reserves in a boston.com carried report from Shanghai/Beijing Reuters published on April 24, 2009. China revealed that it has been secretly buying gold. Currently, they hold 1,054 tons or $30.9 billion at current levels. Considering the Chinese hold nearly $2 trillion in their reserves account, they will have no trouble coming up with cash for more purchases anytime that they feel the metal is underpriced. The most significant aspect of their announcement is that a new trend has begun to acquire the royal metal by a potential sizable buyer.
Why did China ever make this disclosure if they are still buyers? It’s quite apparent that it was intended as a stern warning to US monetary officials to get their house in order, or else. Reuters reports that Mr. Hou Huimin, vice general secretary of the China Gold Association, said China should build its reserves to 5,000 tons.
It will be a most interesting scenario in the months and years ahead witnessing China buying more gold for cash as opposed to the bullion bankers playing with the gold price on the COMEX with paper instruments or mirrors. The bottom line is that gold exports from China will cease to exist in the years ahead while they are temporarily the biggest world producing country. I say temporarily because China’s gold deposits that can be mined at a profit at prevailing prices are only good for another 6 years or so. Some analysts say it could be as long as 14 years. Massively Putting the drill bit to the ground will tell the final story.
The silver market at $12.50 an ounce is still recovering from the damage done to it by some US banks in shorting it from the later part of last year from just under $20 all the way down to just about $8. The CFTC is a shameful outfit when they turned their heads while miners and silver holders were getting robbed blind during the beginnings of the banking crisis. The CFTC has a habit of listening only to the short manipulators and not the boni fided cash buyers.
As an example of this, years ago when Warren Buffett began acquiring a big silver position through a Connecticut broker and squeezing the shorts they all went crying and complained to the CFTC. The CFTC tracked down the broker buyer and demanded to know who they were representing. The buyer, Buffett, instructed his broker not to give up his name. The end result was that Buffett sold his silver forcing down prices in a hurry and packed his money bags and moved his buying operation to London where he acquired a $1 billion position and left it there, far away from the hands of the CFTC and its friends. When I complained through my Congressional representative concerning the bank’s manipulative activity in the silver market last year, I have yet to see any regulatory action or a response to the complaint. I guess we know who is working for whom.
The Gold/Silver Ratio at 70.86 is still acting in favor of gold over silver. For the ratio to turn positive for silver against gold it has to spend some chart time below the 69.00 mark, then we’ll see.
The Gold/XAU Ratio is in neutral territory at the moment. Above the 7.60 level it supports a better relative strength for gold while below 7.00 supports the case to hold gold shares versus the bullion.
in reply to: Ideal Time for Facts #3693Rick
My Congressperson knows exactly what I feel which is no different, I’m sure, with the way you are feeling. I’ve told her that I’m extremely unhappy with the way the bank lobbyists are running our Representatives to legislate against us while they were placed there by the voters not the bankers.
I have told her that it wouldn’t surprise me if none of the current Congressional Representatives were returned to office once the people have their next turn. I have told her that a seriously backed third party will emerge to vote them all out with new people who are more inclined to represent the will of the voters and not the highly paid banking lobbyists with money paid to them probably from our TARP funding that was ordered by King Paulson.
We need real reform in this country and I am directly referring to how the current government operates and especially, the judiciary.
The biggest problem from where I view it is the current ability of judges to play god with people’s lives on cooked up charges from Federal prosecutors who are just interested in their convictions rate to put on their resumes for a better paying jobs.
In our country the conviction rate for Federal prosecutors is in the range from 98% to 98.5%. This is a higher rate that existed during the times of Nazi Germany and the Spanish Inquisition.
I’m not the only one that feels this way. In Martin Armstrong’s letter of April 15, 2009, available at http://www.scribd.com, entitled “Financial Panics = Political Change” he gets into the topic of judicial reform with examples of past abuses by judges.
The major problem with judges is there in no public tribunal of accountability and even the Senate or Congress doesn’t possess the current will to rake them over the coals when events dictate it.
Aside from the judges, the SEC and Commodities Futures Trading Commission are no better. The big fish seldom gets hooked. When was the last time the Sherman Anti-Trust Act was used to catch a big fish?
Doesn’t the government know what the banks have done to all of us on interest rates and fees on their charge cards? I call this a cartel effort to suck blood from us when all the way back to the Roman Empire usuary laws protected its citizens with a cap of just under 10%. The reason why the economy is sick and getting worse is because we are paying a great deal of our income for interest to the banks and it is being withheld from going directly into the economy. It is a moral crime to allow the banking institutions to act as a loan shark business when lower rates would create jobs and put some people back to work.
If anyone is inclined to get a little more educated, I suggest that they access Martin Armstrong’s mentioned essay under the sub-topic of “Judicial Reform Is Vital To Our Economy” in his April 15, 2009 letter.
in reply to: Ideal Time for Facts #3692I almost wrote under the topic “Another US Citizen goes Foreign” but I haven’t left yet….because I still have some fight in me.
Our slanderous whipping by the unconstitutional rulings by the Statist judicial crap concerning the CDAA’s railroad construction planted over Constitutional civility was on;y a precursor to what is unravelling in front odf all of us….what is happening in Washington, both from the executive and congressional branches? Tyranny! It is the very nightmare our Founders rebelled against….
Yet…I sit here and witness ignorance, passivity, capitulation, dilution of principal, to name a few symptoms of our otherwise former fighting sovereign nation of freedom fighters and defenders of the Constitution.
IS EVERYONE ASLEEP????
Where and when can we mount a Constitutional challenge to this aggregious mess?
George would be the first to knock down the door. Both of them.
in reply to: Stock exchange listing #3691I have had a standing bid in with U.B.S. for 1,000 shares at .55 cents for two months & it won’t take.Have also tried Etrade for a dollar a share and it won’t take.
Their are millions of ounces of gold waiting to be blasted out of the mines that we the shareholders own,we just need capital and good hard rock miners to get it.
Mike I think most of us know that China will be the only Superpower left if we keep going down the path that we are,
say what you want about Bush but he did keep us safe(it just cost to much to do)and he was not good at lying unlike Obama & Clinton who I now think would have been a better choice.
What we would like to hear from you is that your making some progress in getting back to mining.
Thanksin reply to: Stock exchange listing #3690Looking at time & sales, I noticed that 6000 shares of OSTO traded on April 21 at a price of .0001 per share.
THAT IS ONLY $0.60 FOR 6000 SHARES!
This really brings into question the validity/accuracy of any trades on the Pink Sheets and/or the OTCBB. I very seriously doubt that anyone would be able to buy shares at this price through a brokerage – whether it be online account or bricks and mortar.
Once again, this is a “gray market” that is very vague in many different ways. There are a lot of loose ends and inaccuracies when it comes to trade reporting. Unless a stock is trading on the Amex, NASDAQ, or NYSE, you really can’t count on accurate trade reporting.
I will try to see if I can get a bid/ask next week, just to see if there is anyone out there trying to trade.
in reply to: Another U.S. precious metals miner goes foreign #3689Parts of the world are moving to improve their GDP with natural resource development. China is a global leader when it comes to gold. Its mines have stepped up investment, which translates into ounces of bullion. It also has been active in a different way with gold.
China became the #5 holder of gold as purchases continued the past quarter. As China moves toward more bilateral trade agreements, it recently negotiated six major contracts where the Chinese Yaun is the medium of exchange. Move over, dollar. The Yaun has the weight of en ever growing supply of gold behind it.
As an aside, when I negotiated the long-term lease in 1983 with Lucky Chance Mining, I included a gold choice as well as a dollar choice payment for royalty payments. At one time such agreements between private parties was illegal in the USA. Will Americans be better off or worse if the dollar loses its international reputation of value?
in reply to: Clips from Alleghany #3688It is snowing here this morning! What did I just say?
in reply to: Clips from Alleghany #3687Springtime in California is as unpredictable as its politics. It’s hot!!
Word is that a couple of hundred tons of footwall has moved into the 800 level so the track is no longer passable. That sounds like a big number but it should be fixed and timbered in three days. Maintainence is on-going and a must for most underground mines.
in reply to: Gold Enters Major Bull Market #3686Gold $890.80 UP $0.20
Silver $12.77 UP $0.01Martin Armstrong’s April 9th, 2009 commentary is available from the provided link below.
Mr. Armstrong’s words give a surprising better insight into a Goldman Sach’s conspiracy to control world financial markets along with his explanation why is was sent to prison and why he remains there.
The informative article is a real eye opener and may shake your world of beliefs but it is worth your time.
in reply to: Clips from Alleghany #3685It’s snowing in Alleghany today. Not reallly sticking though.
in reply to: Clips from Alleghany #3684For Rick: los osos todavia
estan duermiendo, quisas.in reply to: Gold Enters Major Bull Market #3683Gold $897.70 UP $5.10 versus today’s NY close
Memories of 2005 flashed through my memory today when I learned of a Barron’s article attacking another gold related company. This time the news media went after Jim Sinclair’s company, Tanzania Royalty Exploration.
In 2005 the L.A. Times attacked our company and Barron’s, again, Royal Gold. It was just a matter of a few days ago when Mr. Sinclair started drawing reference, again, to the thrashing a Barron’s editorial gave Royal Gold. The source for that publication came from an entity that had an interest in seeing Royal Gold’s stock trade lower which the article facilitated. Was the Sinclair attack coincidence or planned by Barron’s? I guess you can take you pick but I vote for the later.
The article, All That Glitters Is Not Gold by Vito J. Rancanelli, was basically an attack dog stunt something that Original Sixteen To One shareholders know about, too well. Mr Rancanelli unfortunately had his name penned to the story but more importantly for speculative curiosity, who pulled on his strings for the hatchet job?
Most of the media in this country it seems has nothing nice to say about gold or the related companies. I remember some years back mentioning that the Boston Globe in an article trashed gold with some wild talk about “what ifs.” Mr. Rancanelli’s review did more than that, it may have set a Guinness Book of World Records for the most negatives ever submitted with a business report.
The writer started out by stating, “no revenue, no earnings, no proven gold and accounting issues” and it got worse. He attacked Mr. Sinclair for selling his company’s stock 50 or so times last year while at the same time participating in special offering which brought money into the company.
I see Mr. Sinclair’s motives as being genuine in avoiding the investment banks which are notorious for driving down the share prices following secondaries. I view Jim as a talented innovator.
Keeping the investment bankers out of the picture prevents them from getting their hands on warrants to be used as stop gaps for financial protection if their short operation fails. If they obtain a pile of warrants watch out! I have seen this happen far too often and in the end shareholders always suffer watching their stock tank later. In Mr. Sinclair’s selling, he was just rolling over the shares to the market and keeping the bankers from performing their demonic act thus supporting his shareholder’s investments.
Although last year, Mr. Sinclair was no match for the two or three US banks that were allowed to freighten holders of precious metals and the related stocks when they went on a planned and methodical bear raid looting spree.
It’s really kind of sad for shareholders when slanted stories can be so vicious.
My guess is that if you own gold directly or indirectly, you will ALWAYS be subject to attack by the owners and supporters of any fiat money system. So, be prepared.in reply to: Gold Enters Major Bull Market #3682Gold $886.90 Up $7.70
Silver $ 12.55 Up $0.22
Gold/Silver Ratio 7.22
Gold/XAU Ratio 70.67For the past six years the smart way to buy gold is to place mental scale down buy orders in for coins or small bars starting from a 12% retracement below the metal’s previous high. Trading gold is not advocated as it can drive you nuts. Recently, it was mentioned to buy gold when it was off nearly 13% from a previous high just over $1000 at $865.
In 2003 gold reacted from its previous high down 20%, 2004 about 13%, 2005 no 12% reaction, 2006 it sold off 23%, 2007 no 12% reaction, 2008 it sold off 32% and so far this year it has been off the most at about 13% at $860 with a last price of $886.90.
Jim Rogers was interviewed on Bloomberg TV tonight and said for a period of 1 year he would prefer holding oil as opposed to gold. The reason, the IMF wants to sell gold to shore up their finances.
George Soros was interviewed on the same station by Kathleen Hayes and was asked what he thought of the US dollar? Mr Soros said, “I have no opinion.” It sounds to me that Mr Soros is either actively shorting the dollar or buying it. Earlier in the interview he said the extended rally in the stock market is a bear market rally.
Mr. Martin Armstrong’s view is that if the rally is contained below 8400 on the DOW then the possibility of a waterfall decline is still possible. Mr Armstrong has stated that a move to the 4200 level is expected if 8400 or lower is the reaction high on this good rally. If that decline starts it may encourage foreigners to sell stocks and repatriate their funds somewhere else thus weakening the dollar to some degree.
More than likely based on Mr. Soros’ negative opinion on the stock market it appears he has been shorting the dollar and not buying it. If the dollar declines gold should advance. The dollar has been having chart troubles in the 85.00 to 86.00 range and may be setting up for an intermediate decline. We’ll just have to wait and see what happens.
It’s fun guessing and second guessing to add a little excitement to the gold picture as it beats having your gold locked up at the bank which is not too much fun. When this gold decline is over it will be another trip to the bank for another deposit.
in reply to: Clips from Alleghany #3681Happy Easter everyone
I hear the Brown Bear is for sale,three million I hope it sells
and the Sixteen to One can get back to mining.Having no luck getting shares on the open market even at a dollar per.Looks like Western Goldfields got bought out by New Gold & Bullion River might be back mining soon maybe they would like to buy the Brown Bear their right next door they also own land right next to the 16 to 1.
May the future be Goldenin reply to: Gold Enters Major Bull Market #3680Surprised, but due and worthy. After all, the Original Sixteen to One is a real gold mine…
in reply to: Clips from Alleghany #3679Scoop…when you see Mike, mention how I’d like to do a supply run to the Plumbago as soon as the road seems reasonable.
in reply to: Clips from Alleghany #3676Road open. Scoop checked in with Buck at the Plumbago Sunday. His beer is holding but getting low. Someone brought him a ten pack of chew, so the tobacco habit is okay. Buck has held order at the mine since 1999. Keep it up, Buck. Mountain House road is blocked by snow at Forest. Drove to the Yuba river bridge at the Nevada County/Sierra County line. Road very rough but passable.
in reply to: Gold Enters Major Bull Market #3678Additional note: I’m quite surprised that Sinclair was watching this forum (or one of his readers pointed it out)
in reply to: Gold Enters Major Bull Market #3677FYI: this morning, Jim Sinclair on http://www.jsmineset.com quoted BlueJay’s January 31st posting about RGLD. There may have been a jump in web traffic to this site today…
in reply to: Gold Enters Major Bull Market #3673Producers vs. Explorers
If gold is a low risk investment during the Kondratieff winter, should we buy the gold producers or the exploration companies? Let’s examine the ‘pros’ and ‘cons’ of each of them.
Gold Producing Companies:
Pros:
· Investment grade. Large Market Caps-appropriate for investment funds.
· Cash flow via production.
· Excellent liquidity.
· Share prices generally rise faster than the price of gold itself.Cons:
· Depleting their resources through production. Difficulty finding sufficient reserves to maintain production at current levels; e.g.
Newmont produces 7.2 million ounces each year. Approximately 9 million ounces is required to replace this production.
· Hierarchal management-slow to make decisions.
· Exploration subject to committee review and budgetary constraints.
· Limited exploration since 1998.
· Only a small number of companies to choose from.Junior Exploration Companies:
Pros:
· Responsible for 70% of discoveries.
· Growing their gold.
· Quick response management.
· Innovative geologists; prepared to see the unconventional.
· The onset of the Kondratieff winter suggests the largest bull market in gold in the entire cycle. In that environment share prices
rise faster than those of their production counterparts.
· A major discovery positively impacts the share prices of most exploration companies.
· An ability to release regular news in progress.
· Management usually owns a large stake in the company and has a vested interest in achieving positive results on the behalf of all shareholders.Cons:
· Management not trusted – think Bre-X
· Viewed as very high risk investments.
· Investors don’t understand news releases, because they are usually not geologists-and are unable to evaluate a discovery in progress.
· Poor liquidity; small market caps-not suitable for most investment funds.
· Difficulty in raising money; major dilution at low share prices.Evaluating Juniors:
The key is Management. The Long Wave approach, developed by my team at Bolder Investment Partners is subjective but still useful.A Simple Evaluation System:
Management: 30 Points
· History
· Integrity
· Technical skills
· Management skills
· Relationships
· Ownership in the companyProperties: 20 Points
· Grass roots/discovery/gold in the ground
· Access/Power/WaterBlue Sky: 15 Points
· How big could this be?Political Risk: 15 Points · A, B, C, or F
· A = Quebec
· F = Venezuela, EcuadorMarket Capitalization: 15 Points
· Comparative values
· Value of gold in the groundPromotion: 5 Points
· How well does the company get the word out?
· Conservative versus flashyI much prefer investing in juniors versus seniors in a gold bull market, because:
· There is significantly more upside price potential, because of the leverage.
· Easy to be selective. There are plenty to choose from. Follow the management.
· Exciting to follow progress; discovery-resources-reserves.
· Management is usually dedicated to enhancing shareholder value. It wins, too.So there you have it, I believe that gold at this point in the Kondratieff cycle is a low risk investment and good junior gold mining shares are arguably an even lower risk than their senior producing counterparts. Please direct any questions, comments or queries to:
Ian Gordon, The Long Wave Analyst
Bolder Investment Partners, Ltd
Phone: 604-742-3200
Email : igordon@bolder.net
http://www.thelongwaveanalyst.ca - AuthorPosts
