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- in reply to: Gold Enters Major Bull Market #4965
Gold $1744.80 DOWN $0.90
Silver $35.20 UP $0.11
XAU/Gold Ratio .1193 UP .0029
Gold/Silver Ratio 49.57
XAU Index 208.20 UP 4.84
HUI Index 584.07 UP 15.84In a lackluster day for gold and silver something very interesting is happening with the gold and silver shares. The strength of the miners against gold has improved 2.5 percent at .1193 since yesterday as the last on the XAU/Gold Index has bettered the 50 day average at .1166. Usually when moving averages are penetrated they signal a change in direction. We’ll just have to wait and see if trading above an important moving average holds up which will indicate the shares could finally be starting to outperform the metal.
If this is the case, the million and millions of shares(naked shorts) that have been sold with no delivery intentions could get a real fright in the weeks and months ahead.
The above development is quite interesting with the Dollar Index at 75 last which is very near to support in the 73-74 zone. The currency is about 5 points lower since the beginning of this month.
It would certainly appear possible for support to give way with the 50-200&1000 day moving average lines all providing barriers of resistance above. The downside action under a weakening Dollar scenario, beneath its established support zone, could plummet it to the 65 level which certainly would bring buyers back into gold, silver and mining shares.
Aside from this positive short term development, it is best to keep in mind that the dark forces seem to perpetually concoct selling pressure on our group and a buying reserve should ALWAYS be maintained for bargain prices.
The opinion here is that the paper charade of consequences for gold and the shares continues to be possible from these miscreants but their days of manipulation are growing limited going into the future with a major gold exchange opening in China in July of 2012.
It is expected that when China is open for business trading volume on the Comex and in London will shrink. So, the days of rising margins for gold and affecting lower prices at the Comex, especially, may just become mute.
We should also keep in mind that Martin Armstrong’s cycle studies are indicating that gold is just not ready yet for its major push to the $5000 level and some more consolidation, with possible lower prices, could be with us for an unknown limited amount of months ahead. Mr. Armstrong expects the “big push” to begin no later than July of 2012.
in reply to: Gold Enters Major Bull Market #4963Gold $1723.70 UP $19.10
Silver $33.23 DOWN $0.04Don’t think twice about replacing payment for oil with dollars hence the bogeyman may visit you, too.
in reply to: Gold Enters Major Bull Market #4964(Kitco News) – U.S. Mint sales of American Eagle silver bullion coins have already broken the all-time annual record in 2011 with two months to go, reports the Silver Institute. The organization says that sales of 34,662,500 ounces in 2010 was the previous record. The Mint’s Web site currently shows that sales for 2011 to date are 36,375,500 ounces. “Monthly sales are averaging 3.7 million, and if the pace continues until year’s end, total sales could top 44 million for 2011,” says the Silver Institute in its October edition of “Silver News.”
in reply to: Miscellaneous #4962From the Mountain Messenger under “The Sixteen To One Mine In The Crosshairs from 9/30/11:
“No matter, declared the AG. The case, the prosecutor argued, is not about the deficiencies or crimes of the government: it is solely about the missing documentation. The justice of the situation doesn’t matter. Only the $2 million is at issue, which must be imposed immediately.”
“The justice of the situation doesn’t matter? Only the $2 million is at issue, which must be imposed immediately.”
Give me a break, Mr. AG. One wrong doesn’t make a right! If a judge can’t see where you are coming from then we’re all destined to be robbed by the State. If a $2 million assessment is ordered against the Mine it will just be the beginning of an extreme tyrannical power play to fix the out-of-balance incompetent management of the State’s financial affairs.
“The $2 million must be imposed immediately?” Immediately, yes I would suppose it would have been better to submit the reports and then later protest but just look at all the expense in the past just to get the attention of the Water Board to understand that the mill was closed. The money that was to be used for the in question water tests was used up in time and expenses just to get the Board’s attention that the mill wasn’t open any longer which they refused to recognize over and over again.
What were we suppose to do, sell body parts to pay for the tests that proved that a closed mill wasn’t operating anymore?
It’s fairly obvious what’s going on here: The Water Board has a personal agenda against the Mine’s president and his staff along with a AG that has been probably ordered by the Legislsture to go find some money with the added benefit to him that a conviction and big settlement would be great for his overall batting average.
The conviction rate of Federal prosecutors is near to 99%. At whose expense? It’s a fact that part of those convictions put folks in jail who were innocent people, who were not criminals. Martin Armstrong reports that it was these innocents who were the great majority of suicides while in captivity.
I hope the judge has some compassion for the potentially many shareholders that will be financially affected over a trivial matter that began with the Sixteen To One officers and staff showing the Water Board how incompetent they really were following many face to face hearings.
No one likes to be wronged, not even the Sixteen To One Mine, but when the Water Board gets personal and vindictive its time for higher authorities to reassess what truly their responsibilities are and determine if there are grounds for disciplinary action that have brought the office of the AG into an unjust action in which could turn out to be an embarrassing incident for the State.
in reply to: Miscellaneous #4961Is the root of evil for us at the Water Board resulting because we never passed stuffed envelopes under the table to them but instead, just asked them to do their job?
“What truly exist(s) are corrupt corporations paying bribes to government for favorable treatment. End lobbying, pay for all elections and then you will eliminate the influence that has corrupted society. Those who run for office (1) cannot use their own funds to retain that office or run for election, and (2) install one term only rule. Make politics once again an honorable position, not a profession.
Do that and gut the regulators and courts and you will see the light of FREEDOM shine once again and return government to the people.”
Martin Armstrong
in reply to: Ideal Time for Facts #4960Bureaucrats suppress society to maintain their power. They care nothing about a vision of the future. It is always immediate gratification.
Martin Armstrong
in reply to: Gold Enters Major Bull Market #4959Mike
The following comments from Bob Chapman today may address some of your curiosities:
The system is not working and no one wants to admit to it. The players do not know any other system, so they do not want to abandon the one that they have. You cannot maintain the system by creating more unpayable debt. The system that is currently functioning can’t continue to do so indefinitely.
As a result of these conditions and volatility many investors have left the markets and their assets have disappeared in a cloud of smoke. The big investment firms front running the market, naked shorting and government manipulation have driven many to cover.
Just this week we had two professional commodities traders close their accounts after having been successful for more than 20 years. They were simply tired of the manipulation and losses at the hands of their government. Over the past five years hundreds that we know of have quit. Before long there simply won’t be enough players left in the paper commodities.
in reply to: Gold Enters Major Bull Market #4957Dear Bluejay, I have a Trading question for you. The relative values of international currencies fluctuate constantly, often moment to moment. Currency Traders working on the FOREX Market get very rich on split second arbitrage trades. The value of an ounce of gold in each currency also fluctuates. In contrast though, gold is traded in many different Markets. Do the FOREX currency-currency fluctuations and currency-spot.gold fluctuations occur simultaneously and in exact proportion? From a bystanders view, it seems that because currencies and gold are traded in such different markets they need not be synchronized. If they are not, even if there is only a very short time delay in the fluctuations, then there is another arbitrage opportunity: “currency A”-spot.gold-“currency B”-“currency A”. I’m interested in hearing your thoughts on this. Thanks! Ron
in reply to: Gold Enters Major Bull Market #4956Bluejay,
Appreciate your thoughts on margin requirements for gold. By increasing the amount of dollars to buy 100 ounces of gold, the approach of those market players will significantly change. Do you think the market would become more speculative or less speculative? Volume will likely be less but how about volatility in pricing?Many understand that gold is the “real ” value or basis in the interchange of transactions and that paper currencies are the floating value. Does it make sense for people speculating in the paper world of gold pay the piper the same percentage of money as those who purchase physical gold?
Finally do you have an opinion on whether margins should be raised or lowered according to some other policy factors manipulated by bankers or US government regulations?
in reply to: Gold Enters Major Bull Market #4958REAP
I have never made a trade in the Forex market or purchased or sold any commodity on a commodities exchange.
I would suggest either contacting Bob Chapman or Martin Armstrong for some experienced background comments.
in reply to: How to Approach Thin Veins & Cost #4955People ask me, “Are men working in the mine? Are they finding gold?” The answers to both questions are, “Yes”. A limited crew has continuously been working. Work never stopped. It just slowed down to a crawl. This is important to remember during this period of doubt due to a lawsuit filed against the compay by the staff of the central regional water department in Sacramento.
Any earnest review of gold mining the Sixteen to One deposit arrives at the same conclusions: the ore is either rich, exceedingly rich and most of the host quartz is barren; gold follows an ill defined pattern referred to as ‘pay-shoots’; success or failure (risk/reward) defined as profit depends on a formula. After thirty-six years of continued investigation, which in the investment industry is called ‘due diligence’ I know the formula, as do our geologist, present and former directors. My frustration stems from knowing that the formula for success is not in effect right now.
One last comment seems appropriate. A close friend commented that reading the FORUM suggests that either the company, Mike Miller or the mine are presenting themselves as victims. If you read the above as victims, it is your call; however, none of the three feel defrauded, swindled, duped, or cheated. None believe the legal assault constitutes a misfortune. It is an abuse by government people with a punitive and personal agenda. It is a function contrary to the purposes of government and it is definitely not in the best interest of the stated plaintiff, the People of California. Sadly, this behavior has spread over the past four decades as the forces of rebellion against the government took hold in the late 1960’s.
Those responsible for conducting the public’s best interest in carrying out the protections and beneficial use of water in the Kanaka Creek watershed have succeeded in bringing one of the world’s great gold mines and an operation that brought financial success and personal satisfaction to many in Sierra, Nevada and Yuba counties have only succeeded in hurting our region, our state and our country. None of us are victims but we all should really be against the purpose and conduct exhibited by the leaders in Sacramento.
The small vein gold mining in California is a spark that will turn around the direction of jobs by producing something more valuable that the cost of production. Small vein mining at the Sixteen to One is a profitable venture when the formula for operations is in place
in reply to: Miscellaneous #4954/More from Bob Chapman/
Most of these corporate miscreants are technology and pharmaceutical giants, who need a tax break like they need a hole in the head. This is 2004 all over again, but this time the number is $2.2 trillion not $350 billion. Back then they were supposed to create jobs. They created very few and took the funds to buy their stock to push up the price, so officers of these corporations could cash in their options and make hundreds of billions of dollar(s). This time they’ll do the same thing and make trillions, as Americans suffer in the worst depression since the 1930s.
fact these corporate titans laid off thousands of workers the last time around.
The revenues being lost by government would have accrued to the people over the next ten years, but the elitists cannot wait. They want their money now.They are Apple with $12 billion, Microsoft with $29 billion and Goggle with $17 billion for starters. These are not corporate derelicts. Politicians cannot agree on a debt extension, but they have no trouble agreeing on a redistribution of the people’s taxes upward to the very rich. This is really what Occupy Wall Street is all about.
Last time around we saw the same lobbying and the return on their investment 22,000%. There was no domestic investment, no more jobs, just less and no R&D. Shareholders of the stocks of these companies made out like bandits. It is a fact these companies laid off some 21,000 workers after they received their largess. Pfizer, which repatriated $35.5 billion, then laid off almost 12,000 employees.
Compensation for the officers of these firms jumped almost 30%. Are you getting the message?
If nothing else this is totally unpatriotic. The average American suffers, as the rich get richer. They want to laugh all the way to the bank again. It is no wonder people are enraged.
What will happen again is no one will be hired, corporate share buybacks and dividend payments will increase and our deficit will widen, as tax revenue spikes downward.
This can only happen in America, the most corrupt country in the world.in reply to: Miscellaneous #4953In today’s International Forecaster, written by Bob Chapman:
America’s corporate criminals are not satisfied with depriving 11.7 million Americans of their good paying jobs, but now they are pushing for a repatriation tax holiday for $2.2 trillion they hold in tax havens offshore and pay little or no tax in the process.
The momentum is underway by transnational conglomerates that have hired hundreds of lobbyists and others to cajole and pay off politicians to get their legislation passed, which will screw American taxpayers out of $787 billion in tax revenue. This cannot be called anything else but a tax giveaway to multinationals who along with Wall Street, banking, insurance and Parma companies that control our country by buying off these same politicians. It is just like another travesty, the Import Export Bank that guarantees US investments in foreign lands at taxpayer expense.
A bill has been introduced by Senator John McCain and Senator Kay Hagan to lower the repatriation tax to 9%. Eight years ago they pulled this and had a 5-1/4% rate. There is a similar bill in the House, as Senator Charles Schumer brings Democrats in line for their payoffs for expediting the corporate payoffs. Only in America!
This is a redistribution of wealth to the rich. A corporate subsidy – corporate welfare as American unemployment hangs at 22.6 and inflation hovers at 11.4%. This is the total corruption of the political system, and the apex of corporate greed and Congress could care less, as long as they are paid off.
in reply to: Gold Enters Major Bull Market #4952Gold $1679.20 UP $4.70
Silver $32.49 DOWN $0.09
Gold/Silver Ratio 51.68
Xau/Gold Ratio 0.116Some strong remarks today from the International Forecaster’s Bob Chapman:
As far as we can determine the bottom in gold and silver began to be set two weeks ago, they have moved upward, but not as quickly as we had anticipated. The Working Group on Financial Markets has been attacking gold and silver still, but not with the firepower that they are capable of.
It looks like a delaying action in anticipation of further EU problems and forming an opportunity to accumulate long positions. We, via the COT commercial net short position reduction, see the big banks anticipating a strong upward move in both metals. We see such moves in spite of higher margin requirements by the criminal CME, owner of the Comex.
Government participation in manipulation of the dollar as well as gold and silver as usual emanate from the Exchange Stabilization Fund a subsidiary of the Treasury. Such antics killed off a move in gold to $2,200 and silver to test $50.00 again temporarily. We should see the major move in both metals shortly and by the end of February could see $3,000 gold and $65 to $75.00 (on silver). It depends in part on events and the government participation in the market.
Again, due to the speed of the downward move all small and medium players were again wiped out, as the banks earned large profits having rigged the results along with the government. Gold and silver will prevail and achieve much higher prices in spite of government and banking interference.
in reply to: Miscellaneous #4951California AG Kamala Harris should prioritize:
How about waking up and prosecuting the CDAA, the Regional Water Boards and do some actual meaningful prosecuting.
I’d love to see the robo-signatures that rubber-stamp the rogue behavior of these crooks.
in reply to: Miscellaneous #4950California pulls out of 50-state foreclosure talks
By DON THOMPSON
SACRAMENTO, Calif.
California Attorney General Kamala Harris says she will not agree to a settlement over foreclosure abuses that other state attorneys general are negotiating with major U.S. banks.
Harris’ announcement Friday is the latest to undermine a settlement that had been in the works between the banks and attorneys general in all 50 states. Other states including New York also have expressed reservations.
The agreement was supposed to settle claims of poor mortgage and foreclosure practices, including document fraud known as “robo-signing.”
Harris says in a letter to state and federal negotiators that the pending settlement is “inadequate” and gives bank officials too much immunity.
She says California will go it alone in negotiating a settlement.
Iowa Assistant Attorney General Patrick Madigan says the multistate effort will continue.
in reply to: Water and Arsenic: which came first? #4949Thank you for the timely updates, and all of the hard work.
Good luck to all!
in reply to: Miscellaneous #4947The Bank of New York Mellon is going down according to the man who brought Bernie Madoff’s Ponzi scheme to the attention of the SEC. Madaoff’s Ponzi’s scheme amounted to $65 billion.
Mr. Harry M. Markopolos alleges that the New York Bank Mellon cost tens of millions of Americans between $6 to $8 billion from their retirement savings accounts by cheating them on fraudulent foreign currency mark-up and mark-down charges during past decades.
Check out more of what the whistleblower Markopolos has to report against the bank during an October 8, 2011 interview by Eric King of King World News.
The Bank of New York Mellon is the largest custodial bank in the country.
[audio src="http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2011/10/8_Harry_M._Markopolos_files/Harry%20Markopolos%2010%3A8%3A2011.mp3" /]
in reply to: Water and Arsenic: which came first? #4945The Original Sixteen To One Mine has for years been subjected to discrimination by Water Board officials. Who will address that crime?
The bogus regulations that the AG states that have been violated by the Company were never amended when the mill was closed. This is a fact that just will not go away.
The 30 day nonsense holds no water.
It would appear that the Mine is being sued, not for legitimate reasons, but for other possible ulterior motives and, or, an issue only of who and why at the Board didn’t dot the “i’s” and cross the “t’s” in their rule book when the mill was closed.
I have full confidence that an honorable judge will clearly see what is exactly taking here by a corrupt accusing Water Board that is either acting as a rogue entity of injustice or is being used as a tool for stealing by someone behind the curtain.
The U.S. government has had a city below the Denver Airport built for their prominent members in case of a massive impending danger. My question is if mankind is threatened, where will the Sacramento politicians run for cover? Who’ve got it. Also, it doesn’t hurt having a landing strip near-by.
in reply to: Miscellaneous #4944On a regular basis, folks should continue their education. There is no better place to allot some of your precious time than to tune into http://www.martinarmstrong.com.
Yesterday’s commentary entitled, “Occupy Wall Street, Gold & Did Operation Twist Send The 30 Year Rates To Record Lows?” is another piece of brilliant writing by Mr. Armstrong, always with an historical twist of its own.http://www.inflateordie.com/files/OWS%20Gold%20and%2030%20Yr%20Rates%2010-08-2011.pdf
in reply to: Water and Arsenic: which came first? #4946In early 2011, the State Water Resources Control Board (“SWRCB”) released three draft statewide NPDES permits for public review and comment. To say that these permits were not well received by the regulated community (i.e., small municipalities, CalTrans and industrial business owners) is an understatement. In a rare intervention by members of the state legislature into the realm of state agencies, the Senate Select Committee on California Job Creation and Retention held an informational hearing on the draft permits on October 6, 2011. The message from the hearing came across loud and clear: time for a do-over.
The State Water Board received an overwhelming number of comments, most opposing the new permits. It comes down to dollars and sense. The proposed new limits have no foundatio0n in science, would cost water districts and industrial users (which will be passed on the public). Best management practices (BMP’s) must be the guidelines for regulating water in California. Science does not support numeric limitations, especially in natural storm water runoff. Also since these limitations are artificially created years ago (without science support) the Sixteen to One must be relieved from the claims alleged in the water initiated lawsuit.
in reply to: Miscellaneous #4942From Martin Armstrong:
There is NO constant in money because money is simply another variable in the entire economic-mix. Gold is a COMMODITY that is rare enough to provide a STORE-OF-WEALTH that is recognized universally on a global scale. REAL ESTATE has no international value because it cannot be transported outside the domestic economy. LABOR has no true international value because it fluctuates among nations dependent upon a host of other factors. Gold is a commodity that is the same in all nations, yet its value varies internationally because it is a hedge against the fiscal mismanagement of government. There is ABSOLUTELY no government that has not defaulted upon its debt except Romania during the 1980s.
in reply to: Water and Arsenic: which came first? #4943Hark, hark. Don Russell’s Mountain Messenger article is posted under NEWS on the FORUM. Don was in attendance at the September 23, 2011 hearing. Like most familiar with the facts of the Water agency claim for $2.14 million, he has an opinion. Like Don, his opinions are on the front page of the newspaper.
in reply to: Clips from Alleghany #4941Those fellows who were in that
Alaska trip were “placer” mining
They really didn’t know what they
were doing so it appeared like a
comedy of errors. Mike should
start up a mining school to teach
some of these guys the right way
to do things. “The Origsix Mine
Schol”.in reply to: Clips from Alleghany #4940The first snowfall hit Alleghany last night and continues right now. Wake up, everybody; winter will most likely come again. The only problem the mine experiences with winter is driving in and out to the portal. The mine is a warm 50 degrees.
A hotshot television producer of reality shows approached Mike about a year ago. If you saw that unreal show about some strange men who went to Alaska to find gold and get rich (they actually called themselves “miners”), it triggered an idea from some Los Angeles documentary and film makers. Mike said no way would he be part of a show that portrayed our miners as ignoramuses, trashed mining and sent the wrong image of mining just for laughs or ratings.
Glen, over time, conveniences Mike to make a short presentation in order to find financial backing. His appeal was more than just gold mining. Glen saw a reality in what someone must go through and endure to carry on the tradition of gold mining in California. (Mike retained the right to approve the final cut.) So that’s the background.
A crew arrived two days before the court date on September 23. They filmed underground, did interviews in Alleghany. Glen asked and received permission to film the summary motion hearing, did interviews afterwards, packed up and headed south with hours of footage. Not only will there be an audio of the hearing, there is visual. This could help strengthen the national rebellion against faulty implementation of regulations by mysterious governmental career people with the responsibility and authority to carry forth legislation. Laws are written for the benefit of the public and its best interest. Ha ha. Where and when did our system fail its primary duty?
Don Russell sat in the audience. He later wrote a piece for his Mountain Messenger newspaper. Feedback has been plentiful: great article, this is outrageous, I had no idea you were getting this treatment, what can I do to help, what bull slop. Scoop or someone will get it copied on the website asap
in reply to: Miscellaneous #4938Thanks for the update !!!
in reply to: Miscellaneous #4939More Market Rigging.
Kitco News reports today that the CME Group raised copper margins by 15%.
Check out the link below depicting a chart of copper, absolutely, showing no price reasoning for increased margins at this time. It must be clearly apparent to trained observers that the metal was heavily shorted some weeks back and now, the insider big shorts are hoping to flush copper from weak hands with this move.
Will authorities investigate? I don’t think so.
in reply to: Miscellaneous #4935The following gold production numbers for the U.S. were provided by Stan Sudol in his recent article, “North Ontario -A Golden Klondike – 192 Million Ounces and Counting:”
Top Gold Producing American States in 2010 (State Geological Surveys)
In 2010, the United States produced 228,000 kilograms (8,042,463 ounces) of gold, the third largest amount globally. Nevada produced 163,000 kilograms (5,749,656 ounces) and the remaining other states mined 65,000 kilograms (2,292,808 ounces). (United States Geological Survey)
Please note that the statistics from individual State Geology branches are not always in sinc with the United States Geological Survey. (1 kilogram equals 35.2739619 ounces)
Nevada – 5,338,559 ounces
Alaska – 845,144 ounces
Utah – 283,220 ounces
Colorado – 231,000 ounces
Washington – 198,810 (gold equivalent production: Kinross)
Arizona – not available
California – 174,446 ounces (2009) – In 2010 150,000 ounces were produced at the Mesquite Mine in Imperial County operated by New Gold(NGD).
South Dakota – not available
in reply to: Miscellaneous #4937Greg Hunter spells out the OTC derivatives risk today by some major US banks:
The Bank of International Settlements pegs the total world over-the-counter (OTC) derivative exposure at around $600 trillion, but many experts say the real figure is more than twice that amount. No matter which figure you use, it is a gargantuan sum. OTC derivatives are an unregulated dark pool of money with no public market. These are basically debt bets between two entities on things such as credit risk, currencies, interest rates and commodities. According to the latest report from the Comptroller of the Currency, just four U.S. banks have an eye popping $235 trillion of OTC derivative leverage. (Click here for the complete Comptroller of the Currency report.) As a nation, U.S. banks have a total OTC derivative exposure of $250 trillion. So, the fact that just four U.S. banks have this much leverage and risk is astounding! The banks are listed below in order of size and approximate OTC exposure:
1.) JP MORGAN CHASE BANK NA OH
$78.1 trillion OTC derivatives
2.) CITIBANK NATIONAL ASSN
$56.1 trillion OTC derivatives
3.) BANK OF AMERICA NA NC
$53.15 trillion OTC derivatives
4.) GOLDMAN SACHS BANK USA NY
$47.7 trillion OTC derivatives
Considering that the total assets of these four banks are a little more than $5 trillion, I see a frightening amount of risk with a total derivative exposure of $235 trillion! This is nearly 50 to 1 leverage. On top of that, assets such as real estate or mortgage-backed securities can be held on the books at whatever value the banks think they can sell them for in the future. I call this government sanctioned accounting fraud, or mark to fantasy accounting. Who knows what the true value of the banks “assets” really are.
in reply to: Miscellaneous #4936The public celebration of the 100th anniversary of Original Sixteen to One Mine, Inc. will be scheduled on a future date to coincide with the State Legislature’s resolution in recognition of the event. Thank you for asking. As soon as a date is decided it will be posted here. Please pass the word to any other Shareholders you may know.
in reply to: Gold Enters Major Bull Market #4934Gold $1624.80 UP $8.90
Silver $29.97 DOWN $0.70
Gold/Silver Ratio 54.21
XAU/Gold Ratio 0.114Ron Hera from Hera Research LLC has an excellent appraisal of what’s happening in the country and what Utah is doing to protect its citizens. Mr. Hera’s whole commentary along with Utah’s recent Monetary Declaration is the first piece tonight at http://www.jsmineset.com and it’s a whopper. Don’t miss this one.
Also, read http://www.martinarmstrong.org as Martin Armstrong seems to be at the top of his game with his past August commentaries concerning gold. Mr. Armstrong has been the spigot of enlightenment for those willing to relearn what they were never taught in school. The more of Mr. Armstrong you read at his site, the more intelligent perspective you will gain.
in reply to: Gold Enters Major Bull Market #4931September 29, 2011, at 10:31 am
by Jim Sinclair at jsmineset.comIs There Blood In The Streets?
CIGA EricFear is the key element to control. Panic, induced by fear, generates selling. Bouts of intense selling keeps buyers disorganized just enough to prevent physical demand from overwhelming paper supply and maintain confidence in the old paradigm a little longer. Investors that recognize extreme through rare TA and money flows setups, or what traders often refer to as recognizing and buying “Blood In The Streets” survive and prosper despite ruthless, organized takedowns.
in reply to: Miscellaneous #4933What is being planned for 100 year aniversary an of the Original Sixteen to One Mine’s Incorporation? I for one would love to attend and plan to be there.
in reply to: Miscellaneous #4932More Bank Subsidies On The Way?
Candice Choi, AP Personal Finance Writer, On Thursday September 29, 2011, 5:16 pm
NEW YORK (AP) — Will a monthly debit card fee soon be the norm? Bank of America said Thursday that it plans to start charging a $5 monthly fee when customers make debit card purchases. The fee will be rolled out starting early next year.
—The fact of the matter is that when Bank of America took over Countrywide Reality they under-estimated all the toxic waste that went with it. Bob Chapman says that if major US banks realisticlly priced their toxic waste it would become known that they are, actually, insolvent.
So one way or the other, the consumer continues to bail out the banks.
There are 520 million issued debit cards. $5X12mosX520million= $31.2 billion in new yearly proposed bank charges coming if BOA gets their way and all the other banks join into taking for themselves $5 each a month from our checking accounts.
The reason the economy stinks is all the money being sucked from us via loans and high interest credit cards payments to banks is NOT BEING RECIRCULATED back into our local economies. Think about it: we don’t need fancy worded stimulus plans, we need lower interest payments to lenders so our local economies can be well greased with the fruits from our labor.
In the early 80’s the lid on the general usuary law was lifted by Paul Volker. Who has the guts in Washington to get the big bankers back in line???? Or, just let the parasitic block suckers fold and let the chips fall where they may.
in reply to: Gold Enters Major Bull Market #4930Gold $1609.20 DOWN $40.50
Silver $29.85 DOWN $ 2.03Below are a few selected comments from Bob Chapman in this morning’s International Forecaster:
The takedown of gold and silver markets over the past two weeks signified a new milestone in corruption, brazenness, arrogance and it reveals the level of evil control behind our government. This past week, in just one week, saw gold fall almost $200 and silver about $10.00. We have been involved in gold and silver for 53 years and the only event that comes close to this was October 19, 1987, when we witnessed the Bank of England sell down gold $100.00 under the orders of the Fed and the US Treasury, which borrowed the gold from the IMF. That was illegal, but that means little to the Illuminists who do as they please. Today thanks to Ronald Reagan we have the “President’s Working Group on Financial Markets,” which has legitimatized corruption to conform to the Keynesian model of corporatist fascism.
After the close on Friday we were informed, that the CME, which controls the Comex, had raised margin requirements on gold by 21%, silver 16% and in copper by 18%. In retrospect it is obvious that many banking insiders and traders knew early in the week that this momentous psychological warfare was going to be unleashed on these markets.
Your government definitely rigged these markets. Today in America and many other places as well, crime pays. What has been done to investors over this past week is not only a crime, but also a disgrace to all Americans.
in reply to: Gold Enters Major Bull Market #4929Gold $1609.20 DOWN $40.50
Silver $29.85 DOWN $ 2.03Below are a few selected comments from Bob Chapman in this morning’s International Forecaster:
The takedown of gold and silver markets over the past two weeks signified a new milestone in corruption, brazenness, arrogance and it reveals the level of evil control behind our government. This past week, in just one week, saw gold fall almost $200 and silver about $10.00. We have been involved in gold and silver for 53 years and the only event that comes close to this was October 19, 1987, when we witnessed the Bank of England sell down gold $100.00 under the orders of the Fed and the US Treasury, which borrowed the gold from the IMF. That was illegal, but that means little to the Illuminists who do as they please. Today thanks to Ronald Reagan we have the “President’s Working Group on Financial Markets,” which has legitimatized corruption to conform to the Keynesian model of corporatist fascism.
After the close on Friday we were informed, that the CME, which controls the Comex, had raised margin requirements on gold by 21%, silver 16% and in copper by 18%. In retrospect it is obvious that many banking insiders and traders knew early in the week that this momentous psychological warfare was going to be unleashed on these markets.
Your government definitely rigged these markets. Today in America and many other places as well, crime pays. What has been done to investors over this past week is not only a crime, but also a disgrace to all Americans.
in reply to: Water and Arsenic: which came first? #4928During the time that the reports weren’t filed with one State agency, another one had hired a lynch mob to attack us which cost us valuable time and resources in defending ourselves. Forget about mining and the shareholders, we’ve been selected by the tyrants to pay the salaries of the Water board and to balance the State’s seriously out-of-control budget implosion.
No wonder the vast majority of mining companies have no interest in setting up shop in California. For the few that persist like Emgold, Sutter Gold, New Gold and ourselves, I can only wish you well.
Hopefully, the bureaucrats in Sacramento come to their senses in supporting a responsible mining industry instead of stealing their assets and preventing them from attending to their industry work.
I am beside myself why my State representatives choose to ignore my concerns of suspected heavy handed-ness by the Central Water Board. Who is running my State?
It certainly is not the residents who ask for explanations when they suspect some person or political entity is out to destroy their investment.
in reply to: Water and Arsenic: which came first? #4927I remain confident that the water agency’s motion for summary judgment will not pass the scrutiny of the Court. I expect the ruling to be: Motion Denied.
Cautious and concerned, yes we remain until the decision is filed (the Court has 90 days to make a decision). When presented with an up front question of outcome, spectators in the courtroom said it was obvious that the Water agency loses. A defense and arguments remain; therefore, the Sixteen must have its day to challenge the facts alleged by plaintiff’s $2,145,000 claim of damages to California’s public for not filing 13 reports.
Thanks to all of you who offered your prayers and well wishes. Those voices of support make a difference in our attempt to stop a monstrous injustice.
I apologize for the delay in reporting the results. Our Internet went out Saturday. I was unable to let you know until late today. Tomorrow I’ll dig deeper into this lawsuit and tell you about the most unbelievable position that the Water Board says it has the “policy “ to not do. Friends, the public is in serious danger!
in reply to: Water and Arsenic: which came first? #4926What happened on Friday? I am hoping for some good news…
in reply to: Gold Enters Major Bull Market #4924Gold $1657.20 DOWN $79.00
Silver $30.93 DOWN $ 4.91
Gold/Silver Ratio 53.58
XAU/Gold Ratio 0.114The CME members attacked gold, silver and copper with increased margin requirements.
Gold is now a minus 5 in a Granville down-field. The hunt is on for a low in gold. Just as a plus 19 in the preceding Granville up-field took gold to a higher high, the current down-field will lead us to a higher low within its current bull market trend.The following are comments from Kenny and Jim Sinclair at http://www.jsmineset.com:
Market Violence Will Create Large Bear Trap
September 23, 2011, at 1:49 pm
by Jim SinclairDear Extended Family,
A quote from CIGA Eric today completely encapsulates what we are experiencing in the gold market:
This is a repeat of 2009 – actually even more extreme readings than 2009. We are severely oversold today. Anyone not buying here does not believe in the fundamental story. In my opinion, this will be a huge entry point by 2012.
In conversations with Kenny we examined the worst case scenario in terms of the correctness of Eric’s comment with which we both totally agree.
Our conclusion is:
Market situations like this will be found to have held and created bear traps in several instances of similar pattern action over the past 30 years WITHOUT having continued further down to first major support. The current corrective pattern over the past 23 trading days strongly implies that the move below $1690 would continue on down to the core at $1665 at minimum as first bottom, and in the extreme to $1615, but not below $1584. This will happen prior to exhaustion and a return to the full bull trend.
So far the remaining successive levels of $2450/$2510; $2850/$2900, and $3280/$3330 are not affected.
Gold shares are being impacted by a field of problems as a result of the large short positions held in almost all. They are being taken advantage of today by pressuring the entities in hopes of causing long term holders to collapse in their commitments.
Respectfully,
Jim - AuthorPosts
