Forum Replies Created
- AuthorPosts
- in reply to: Gold Enters Major Bull Market #4840
Gold $1767.50 UP $23.40
Silver $39.05 UP $ 1.34
Gold/XAU Ratio 8.50Gold continues higher following the Standard & Poors downgrade of U.S. debt last week. The gold and silver shares have improved somewhat against gold in relative strength from above 9 top 8.50.
Mike, I forwarded your question to Dan Norcini who is more qualified to give you an appropriate response.
With gold continuing to flare higher, hitting about $1800 earlier, it is a good time to hang on to some perspective: Martin Armstrong has stated that it is quite possible that weakness will develope in this market in early September.
For those requiring more elaboration on his stance, visit http://www.martinarmstrong.org and review his recent comments in the article “The Outlook For Gold” dated July 13th.
in reply to: Gold Enters Major Bull Market #4837Gold $1773.00 UP $55.80
Silver $37.83 DOWN $1.20
Gold/XAU Ratio 9.11Gold continues to be aggressively sought with the confidence in governments briskly sliding away. The hedge funds keep pecking away at the gold and silver shares with the explorers being especially hard hit.
The cold hard fact is fiat currency managers have lost manipulative suppressive control of gold. Jim Sinclair says from his studies that we are ever so close to explosive higher metal prices.
Concerning the shares and silver, the want-to-be controllers are very active in plotting and supporting a full frontal press to what is still available to them in hopefully turning people off to hard assets. Using paper products to depress hard assets is fraud and with a sensible government coming on the scene someday, hopefully, will find these criminals being committed to the penal system stockades for many years.
in reply to: Gold Enters Major Bull Market #4839Mike, et al….
It would be a curious obstacle if State water-crook-thug lawsuits at this point outweigh the ever-proven potential of this grand mine.
It has been a weight-of-the-world obstacle. The difference now is the return on development vs. getting the a-holes off of the mine’s back.
The tide is changing. Regulation has had it’s warning. And yet, despite their CRAP, potential to outweigh their assault is at hand.
Spurious regulation will have nothing to gain when there is no longer a target, especially with the new awareness introduced by the few in Congress who have the balls to speak the truth.
Even if the thugs are pursuing their target $$$$ ammount, the potential production far outweighs their crook-figure.
Investors are watching….for when/if the risk is averted….
It’s time to out-fox the hen-house.
in reply to: Gold Enters Major Bull Market #4838The gold future spread sheet for trade date 8/9/2011 this morning has an anomaly that begs for an explanation regarding a key in understanding the spot price movements. The spreadsheet identifies the contract month, last price, change, open, high, low and volume. The anomaly is in volume: August = 1,405; September = 4,329; October = 16,147; December = 261,030; February = 1,540; April = 239.
When I saw this early morning, short selling was my answer. The current spreadsheet at 5:45 pm trade date 8/10/2011 for volume is: August = 21; September = 139; October = 673; December = 9,661; February = 18; April = 0. Strange behavior, isn’t it?
The spot price is a curiosity only for me. Today I spoke with two different gentlemen of age and proven wisdom. Both told me that gold has much more increases ahead, by significant amounts. As a gold producer, I am amazed! As the president of the oldest US gold mining company with an ongoing operation (very modest for reasons you all know), I am pissed off that a specious lawsuit and a series of attacks on this operation for over a decade have reduced our operation to a stand still. Without any serious investors calling to conduct a serious due diligence review about the reality of this company, I am disturbed. Also a plan is at-the-ready (flexible to adjust to all needs) should a serious investor approach us.
in reply to: Gold Enters Major Bull Market #4836Gold $1651.70 UP $2.90
Silver $37.93 OFF $0.95
Gold/XAU Ratio 8.41
Gold/Silver Ratio 43.39The news today is not the gold price but the criminal hedge funds stomping all over the gold and silver shares. For all we know, the investment bank are involved as well. These are the same people that collapsed the metals and shares in 2008 during the financial criis.
Martin Armstrong has mentioned that a turn to the downside in the metals is likely by Labor Day. It seems the time table has been moved closer with all the recent action to the upside in gold.
The continuing weakness in the PM shares is to some extent being effected by the serious weakness in the general average but the main pressure is being supplied from the slimy characters already mentioned.
Looking ahead with $5000 gold in the cards, holders of the shares must prepare themselves for temporary rough sledding ahead. The important thing is, don’t let the crooks shake you out and take your future from you.
Eventually, these miscreants will go long, hopefully without your shares, and have super spectacular profits when the gold bull really aserts itself beginning in the early part of 2012.
Stay strong.
in reply to: Ideal Time for Facts #4835Martin
I would recommend going to the website http://www.martinarmstrong.org and read all of his writings. He is the world expert on this subject.
You will be doing yourself a great favor while adding to your over-all knowledge.
in reply to: Ideal Time for Facts #4834What would happen and how would
thing change if our nation went
on the GOLD standard. Will some-
one please answer that?in reply to: Gold Enters Major Bull Market #4833XAU Index 202.94 DOWN 6.86
HUI ndex 552.44 DOWN 10.93The two gold and silver indexes are being battered today as gold trades at another all-time high. What gives here?
It is suspected that the all powerful hedge funds are overwhelming this sector by illegally feeding into the market a monstrous supply of sell orders representing nothing but “supposed” good intentions to deliver securities. This is the most outrageous fraud to manipulate prices for big profits ever seen in the history of Wall Street. The amount of money generally being stolen from shareholders is, probably, in the bllions.
You must know that the system is fixed against you while regulators fail to take action against these criminals.
The naked shorting scheme basically got started sometime after the banks took over the brokerage firms. The hedge funds became involved when they discovered that the regulators were being influenced to look the other way and went along for the free ride and more downward price gouging at our expense all while gold continued to make new highs.
in reply to: Gold Enters Major Bull Market #4832Gold $1681.20 UP $20.10
Silver $42.17 UP $ 0.44
Gold/XAU Ratio 8.09The increasing fear factor of governments continues to attract new money into the gold market with the $1680 level falling today. It seems not only that gold and silver stocks are being shunned but platinum as well, being off $30.00 to $1749.
Platinum at a 1 to 1 ratio with gold has usually meant one of two things: either platinum is ready to advance in price or gold is ready for a fall. Usually, there are traders who closely follow the ratio, current at 0.96, and when it goes one against one, they put on a ratio spread by selling gold and buying platinum.
The price of gold is quite extended for the short term, registering a plus 14 in the current Granville up-field cluster. Holders of gold should be quite pleased with its short term performance but “gold parties” do come at some expense: they ALWAY seem to run out of gas.
Silver has surpassed chart resistance at the $41 level. We’ll see how well it holds with gold reaching over-bought status.
If gold continues making new highs on its current run, it would be suspected some major negative development is approaching.
in reply to: Ideal Time for Facts #4831Responsible Use of California’s Natural Resources.
Excerpts from a seasoned mining man living in California.Biggest problem is California society, its culture and actions or inaction. This general statement’s value must identify specifics for any directional change to take place. Instead of gold as the metal of interest, substitute copper. Mankind needs copper to maintain its quality of life or improve the lives of less fortunate peoples. (Some people believe that gold is an unneeded relic.)
An economic copper deposit is in northern California (Plumas County). It sits idle, no action and questionable plans for exploitation. Why?
1. Cost of permitting and ongoing delays.
2. Canadian security laws encourage mineral extraction while US laws discourage mining.
3. Philosophical or attitudinal approach to investment by Americans is short-term. A mine is a long-term commitment. Sacramento is a good example of government paying for votes in the next election. Short-term thinking.
4. Public does not want to be bothered. Not true for small minority that actively oppose mineral extraction anywhere. California is a handy place to live, work and practice their trade.
5. Public lack of understanding history. Apathy. Don’t want to be bothered.
6. Corporate insiders of many exploration companies (officers, directors, geologists) interested in good meals, travel, nice salaries at shareholder expense or hyping stock value. These Canadian companies increase outstanding shares like rabbits create bunnies by diluting shareholder interest via private stock offerings.in reply to: Miscellaneous #4830Being a politician has always been a license to practice stupidity and arrogance. The bankster’s along with the lobbyist’s handouts have become such a powerful drug for them that they conveniently forgot who elected them and whose future is in their hands.
Martin Armstrong says:
“If there is any love left among the political ranks for your country, society, and your children, it is time we stop the bullshit and objectively sit down before we lose the chairs as well. I know this is futile to wish for such things because politicians will not act until the crisis appears. In this case, that may be just too damn late. Politicians simply cannot see beyond the rhetoric because this is not about saving the country, but about maintaining power. We cannot cut spending and balance a budget while leaving the entire debt structure off the discussion table. So prepare for what is on the horizon.”
in reply to: Gold Enters Major Bull Market #4829Yesterday from Martin Armstrong:
This debt crisis put a lot of people on notice US politicians are clueless. They kicked the can down the road but after the next election, look for this debt crisis to start to come apart at the seams. Then capital will start to shift as we get closer to 2016. That will be the biggest reservoir of capital to propel the stock market and gold to the outer stratosphere when it begins to pour out of the bond markets into assets.
in reply to: How to Approach Thin Veins & Cost #4827Original Sixteen to One Mine, Inc is 100-years old this fall. Remember, though, the Sixteen to One mine and other mines in Alleghany owned by the California Corporation have histories going back to the 1850’s. An especially active and challenging (and profitable) period took place from 1903 to 1914. It was a time of discovery for the venture capitalists that found the Alleghany Mining District a place of interest. I say “discovery” because little was known about the geology and nature of this world-class high-grade gold deposit. We have learned from their successes and failures.
Factors determining applicability of mining methods: shape, size, dip and regularity of orebody, physical and mineral character and value of ore, distribution of pay ore, character of wall rocks and overlying surface, relation of deposit to surface and to other orebodies on same property, kind of labor, availability, character, and cost of timber and material for filling.
Technological improvements in drilling, blasting and mucking have continued since the early discoveries of high-grade gold. In 1992 the successes of bringing simple metal detectors underground have significantly changed some of our mining and processing methods; however the true miner knows that the nature of the deposit dictates the means and methods of mining. The following are terms used to define ore handling that remains as practical today as they did 100 years ago.
Chutes must remain open during the life of stope. Types: (a) A cheap chute for filled stopes is made by lagging the outside of a row of sets, but lagging is apt to be broken by falling ore, by swinging of sets or by pressure of the filling, admitting waste and possibly destroying the chute; (b) The inside of a row of sets (usually the outside also) is lined with vertical planks. This is common is both open and filled chutes. Thickness of lining (2 to 4 in) is proportioned to wear during the life of the chute. A double 2 or 3-inch lining may be used to secure tight joints; (c) Cribs of round or square timber, built independently or just inside of the sets, which may or may not be lagged outside. Independent chutes are useful for carrying through stopes at an angle to the sets. Chutes inside of sets act as reinforcement and offer strong resistance to wear and pressure of filling; (d) A vertical row of sets is “bricked” with timber blocks.
Grizzlies or logs or square timbers set 8 to 10 in apart, are often placed over tops of shuts to keep out large lumps which might block chute or gate. They are especially important for single-compartment chutes in filled stopes.
Gophering is a name applied to mining in irregular drifts or other openings which “follow or seek ore without any regard to maintenance of a regular grade or section”. The method is also called “Coyoting” in western U.S. In general, the term designates any small-size, irregular, unsystematic workings.
Gophering is a poor man’s method used in small excavations where walls require little or no support. Obviously, it may be employed in portions of veins, beds, or masses, but has no place in systematic mining. If used to mine rich seams in a large orebody, gophering often results in a temporary profit but eventual loss, as the irregular openings increase cost of, or prohibit, mining the remaining low grade portions. On the other hand, gophering has a place in mining small irregular portions or isolated part of an orebody, where cost of systematic development is not justified by probably tonnage to be won. This is especially true of small, high-grade spotted deposits,in reply to: Gold Enters Major Bull Market #4828Gold $1658.30 UP $38.00
Silver $40.83 UP $ 1.59Gold continues pushing higher aided by the President, Congress and the Senate. These politicians are totally unwilling to seriously and intelligently address the problem of our run-away National debt.
The President Surrenders
By PAUL KRUGMAN
Published: July 31, 2011A deal to raise the federal debt ceiling is in the works. If it goes through, many commentators will declare that disaster was avoided. But they will be wrong.
For the deal itself, given the available information, is a disaster, and not just for President Obama and his party. It will damage an already depressed economy; it will probably make America’s long-run deficit problem worse, not better; and most important, by demonstrating that raw extortion works and carries no political cost, it will take America a long way down the road to banana-republic status.
————————————-The hedge funds continue to sell precious metal stocks short as the Gold/XAU Index continues to move higher, meaning better relative strength for gold against the shares, with a current new reaction high of 7.96.
Today is an important milestone for the gold analyst, James Sinclair. In the first quarter of 2005 he made a DVD explaining why gold would hit $1650 in 2011. It doesn’t get any better, it was a perfect prediction. Congratulations Mr. Sinclair! You can follow him at his free website: http://www.jsmineset.com
in reply to: Miscellaneous #4826Martin
Mike won’t give in to these serial bullies and it has become personal. “Those who can, do. Those that can’t, bully.” From, Bully Online.
Bullying happens quite frequently with career politicians and their appointees when one proves them wrong. Ever see the motion picture, Wag The Dog with Robert DeNiro and Dustin Hoffman? Politicians will always divert attention away from what they don’t want people to really focus on, their short comings.
In the case of the Water Board: They won’t take responsibility for their mistakes and in turn attack our company with their misinterpretation of the little rule book with their continuing Jekyll and Hyde nature as it suits them.
The government folks have taken on an aggressive posture to cover-up their past and continuing ineptness as a representative of the people just to save face along with their jobs.
“All cruelty springs from weakness”
(Seneca, 4BC-AD65)in reply to: Miscellaneous #4825I dont understand something: If
A. Teichert and son can mine it
is said,can mine enough gold from
their rock quarry east of the
big belt that connects it with
their Perkins rock plant, to now
meet the payroll for the whole
company, and not experience any
flack from the “do gooders”,why
is the Sixteen under so much of
a siege from the regulatories
is it just because we are so onery and refuse to make payoffs
a maybe others do, or what is iT? It IS Hard to understand.in reply to: Miscellaneous #4824The Second Amendment (Amendment II) to the United States Constitution is the part of the United States Bill of Rights that protects the right of the people to keep and bear arms.
in reply to: Miscellaneous #4823Some of Bob Chapman’s thoughts today from the International Forecaster.
A game of chicken is being run in Washington by two groups of politicians run and owned by the same group of people behind the scenes. They all want enabling debt extension with a small touch of austerity. They want a deal that has the legs to keep the economy going until after the next election. The most important thing they want is a reduction in Social Security and Medicare, so those funds can be used to reduce debt and fund the military industrial complex.
They also want starvation and the inability to buy drugs by the elderly to hasten their demise. That means less Social Security and Medicare spending. In two years we will also have the Obamacare death panels, where massive elimination will be put into motion. There is nothing the Illuminists despise worse than useless eaters. There is ample evidence that these elitists, by their own words, want to reduce world population by 60% to 90%, dependent on which of these persons you listen too. Last week Ted Turner opted for 90% on CNN.
That is what the fight regarding debt extension is all about. The only forthright and honest person in Congress to call it the way it is, is Ron Paul. He says the bill sanctions the status quo and that it is impossible to balance the budget without cutting military, Medicare and Social Security spending and that is impossible. The debt limit will be raised, but we fervently hope without Social Security and Medicare cuts.
You have to understand your adversaries. These people in Congress are almost all paid whores and the people who control them with money are insane. If you can grasp that you can understand what really this is all about. Watch carefully which members won’t allow military cuts and which want to cut SS and Medicare and then you will have identified the enemy.
in reply to: Gold Enters Major Bull Market #4821Below is a link to the Gold/XAU ratio chart:
in reply to: Gold Enters Major Bull Market #4820Gold $1626.50 UP $9.30
Silver $40.02 UP $0.29
XAU 207.54 DOWN 2.60
HUI 545.71 DOWN 9.09
GOLD/XAU Ratio 7.83Continuing bickering in DC with no concensus concerning the debt limit discussions has pushed gold up today. In the background is continuing naked shorting of the gold and silver stocks by the powerful hedge funds. Remember when gold rises and the precious metal stocks are lower, they make money both ways.
Adding to troubles for the holders of the gold and silver shares is the fact that the Gold/XAU ratio pushed above its 50 day average at 7.59 and is currently at 7.83. A higher continuing ratio equates to lower share sector prices.
As the debt limit controversy continues to boil expect it to be resolved at the last second with the participants all taking their bows accompanied by weakening metal prices and more naked shorting for shareholders, compliments of the fraudsters.
It is hoped this assessment is wrong with the precious metal stocks but greed is a powerful thing and their thirst for illegal profits is insatiable.
An appropriate question is: Why do we get over regulated and harassed while these guys get a free pass to steal?
in reply to: Clips from Alleghany #48191.I believe I previously told about
the time years ago when my wife’s
great grandfather, Jules Auradou
while exploring Kanaka Creek (He
termed it Bar) after overturning
some overburden or a large boulder
found a 20oz nugget and exclaimed
BIGRE!! in French. So to all you
just “got to have hope” By the way the greatgrand father’s last
name, Auradou means in english:
“God’s Gold”in reply to: Gold Enters Major Bull Market #4822To answer Bluejay’s question below: “Why do we get over regulated and harassed while these guys get a free pass to steal?”
The squeaky wheel gets the grease. Misinformed or intellectually lazy or arrogant or self centered or guilty or thieves, pirates and criminals or ego-centric men and women find it easier to pursue attacking the environment than the economic/political/social illnesses affecting our country and quality of live.
in reply to: Gold Enters Major Bull Market #4817The Chinese are buying gold.
in reply to: Clips from Alleghany #4818Rose in the Sixteen’s map room organized the maps last year and is working on files left in the former mine site office. She showed Scoop a file from the 1960’s covering OME contracts with the mine. OME stands for Office of Mineral Exploration, a federal program encouraging gold mining in the USA. How come the feds were supportive of mining 45 years ago and unsupportive today? Scoop promises to get that file and follow up with some historical perspectives for you.
Not much happening with ideas and plans for the 100-year celebration. Mike blocked out October 6 to the 15th as days for different celebrations. His zealous devotions to the Sixteen to One, its history and its unknown future are showing. Maybe a couple of days honoring its century of existence may be okay. Isn’t one day enough? So far talks include: turkey shoots, drilling contests, metal detection opportunities underground, pasties cook-off, tours showing the different phases of mining, gold pours, lots of musical festivities, chain saw carving event, on-site painting events for all ages, gold panning, geology based tours, live theater (the hanging of Juanita, gold fever, the biggest gold heist, the camaraderie of underground miners are some scripts), mining folklore like the cowboys have, mucking contests for different ages and gender, and……
in reply to: Gold Enters Major Bull Market #4814Gold $1619.40 OFF $0.50
Silver $40.89 OFF $0.02
XAU Index 214.00 OFF 4.84
HUI Index 564.86 OFF 9.83The gold and silver shares have been beaten down this morning while gold faded from earlier strength while making an all-time high at $1629.40. It is suspected that some hedge funds sense a temporary high in gold and have let the naked shorting beast out of its cage.
Also, gold was higher yesterday logging in its 10th recent high in the Granville up-field cluster. If gold closes at or near its low today, it is suspected that weakness could develop over the very near term. The signing of a debt ceiling limit could put the icing on the cake for a short term high, possibly being established today.
If anyone is curious as to why holding gold bullion in some form is better than the shares right now go to http://www.stockcharts.com and select for a chart $GOLD:$XAU and for the time period choose weekly and then hit the update button.
THe chart is representative of the ratio of gold to the XAU Index of gold and silver stocks. The old norm use to be from 3 to 6 until the bankers started effecting metal prices lower in incouraging depositors to keep their money with them during the financial upheaval a few years back.
Although they were only able to shock and awe the gold and silver markets temporarily the shares continue to be held hostage with a new higher norm on the chart which means continuing inferior value prices for the shares against the metals. As you can see from the graph, the recent norm is quite different than the old 3 to 6 range. In the past buying gold and silver stocks at 6 and selling them at 3 was the profitable way to go.
All this was helped along when some very big hedge funds and probably some investment banks starting using the naked shorting scheme while being long the metals. Profits have been piling up for them while most shares just stumble around like they were wearing cement shoes. Although there has been an exception with of the some stocks. This is especially harmful to the explorers who must depend upon refinancing. When the share prices get too low the companies in some cases have to do reverse splits to keep their share price at a decent level to attract refinancing. When new offering are made the naked shorts buy into them thus covering their short positions at a lucrative profit. Is this fair to shareholders of these companies? Of course not! But the bleeding goes on anyway. In the old days these types of crafty price manipulations were known as “bear raids.”
When one views the chart it becomes clear, holding gold and silver has outperformed gains in the shares, overall. The blue line is the 50 week average, while the red one represents the 200 week average. In order for relative strength to return to the shares versus gold the 200 week average needs to be pentrated to the downside. Although some analysts are calling for an explosion to the upside in this sector, it just won’t happen until the red line gives way to falling prices.
A side note here is: in the next few months expect to see increased offerings to absorb some good properties that explorers hold and whose share prices are not representative of their true values.
It will be “bargain day” shopping at Macy’s for all of senior gold companies. A key for shareholders of these companies will be, don’t fall for the old trick of accepting a 40% or so premium for your shares when they have been overly depressed by the fraudsters.
in reply to: Gold Enters Major Bull Market #4816Bob Chapman from the International Forecaster has these positive words for the metals today:
Comex silver inventories could realistically be only 33% of what they say they have. There is no question the exchange traded fund, SLV, has been lending the shorts silver for delivery illegally.
As you know there are no rules for these elitists. They do as they please. We also have believed for a long time SLV inventories are probably about 1/3rd of stated levels, or less. The positions of JPM, HSBC, SLV and others are staked against the reality of falling physical inventory and a deficit of production versus usage, plus investment off take.
That means to us that over the next seven months silver could be priced at $70 to $100 an ounce and gold between $2,200 and $3,000.
in reply to: Gold Enters Major Bull Market #4815Educational video on gold.
in reply to: Gold Enters Major Bull Market #4813Ted Butler tells you why silver is so special:
in reply to: Gold Enters Major Bull Market #4812Gold $1614.50 UP $14.20
Silver $40.39 UP $ 0.32
Gold/XAU Ratio 7.38 UP .16
Gold/Silver Ratio 39.99Gold moved higher today reacting to the continuing debt ceiling drama in DC along with escalating concerns over Europe’s shaky debt structure. Gold will easily advance in this type of environment as most of the shorts have been badly burned with few having any remaining appetite to get mauled again.
The gold and silver stocks along with silver still remain serious targets of the naked short sellers. Silver continues to be capped somewhat by the domestic banks as they still carry major short positions that have gone against them. Unfortunately for the longs, the CFTC doesn’t require them to put up more margin as the bank’s assets are pledged in lieu of margin calls. This is ironic as their “magic act”, lacking full disclosure with added accounting tricks, to dress up their defunct pig assets with a dress and some lipstick is only a cheap cover-up, for most of them are realistically insolvent.
The miscreants will manufacture and sell all types of silver related paper instruments to, hopefully, suppress the metal. They have not yet learned their lesson. Selling short any bull market will eventually eat up anyone’s capital.
It is suspected that J. P. Morgan is still holding some of their inherited Bear Stearns silver short positions with government guarantees against loss. That’s right, if silver explodes causing sizable irreversible damage to those shorts, we cover their losses.
The two major gold and silver stock indexes, the XAU and the HUI were helped lower by the miscreants today as a result of increased naked short selling. The SEC and CFTC have been persuaded not to interfer with the naked short selling campaigns of the hedgies and the banksters.
Both averages are just below major resistance levels: the XAU at 220 to 225 with a last of 218.47 and the HUI from 590 to 600 with a last of 575.06. This is usually the position of these two averages when the dark side resurfaces. The shares will remain the target each time gold reacts or the rallies start to fade under these conditions. If the indexes gather up the strength to better the troublesome areas it could be the start of a spectacular advance but the percentages, currently, don’t favor this.
It has been the practice of the hedge funds to be long gold and short the shares. This strategy has been an important income producer for some of them while the public holders in these shares suffer from their unbridled heavy handed naked shorting attacks. Along with the hedge funds, investment banks, for the most part, have also acted just like an organized crime syndicate with their daring confidence to beat the system with fraudulent naked selling.
It is certainly hoped that gold continues to push higher over the short term but today’s advancing gold price took the current Granville up-field to a positive 9 mark from a plus 8 reading, cumulatively, last week. In the past a plus 10 days and just below have set the stage for past short term declines.
If Rome burns all this technical stuff is useless but don’t expect this to happen over night now with our present day caretakers, as these folks are quite creative in their evil ways and will continue to be so, right up to the very end. Power is never easily relinquished.
The winning position has been since 2003 to: stay long gold and silver and the related companies, enjoying periods of strength and always standing ready to take advantage of short to intermediate declines on a scale down buying basis.
I must admit, buying a greater portion of the bullion and slight numismatic coins has been a priority for the past two years. Somewhere ahead in time the trend may change away from gold and silver being in a better position to advance versus the shares but so far, it hasn’t happened yet.
Hope this helps everyone.
in reply to: Gold Enters Major Bull Market #4811Gold $1600.30 UP $10.10
Silver $40.07 UP $ 0.75The following comments were made today in the International Forecaster by Bob Chapman:
Today we watch the machinations in Congress, which is trying to muster an agreement on the short-term debt extension. Little is said about the long-term debt problem, or about the continuance of money and credit creation and zero interest rates, both of which are inflationary.
In this process our President has offered up the previously looted Social Security and Medicare programs. Programs the public has paid for to support them in their final years of life. Those who buy Treasury securities are the biggest losers. Even that 10-year note at 2.92% is losing about 8% of the value of its funds annually. Millions of investors are doing just that. The Fed believes that in order to keep the game in motion interest rates must stay at zero, the impact of excessive creation of money and credit, has to continue and the decimation of peoples savings and dollar purchasing power has to be destroyed in that process.
The idea is to let dollar holders take the losses as Congress and the Fed proceed on their merry way destroying our financial structure. Wall Street knows this, but is more than happy to go along with the program and in a slow process investors are switching to gold and silver coins, bullion and shares to offset the loss being foisted upon them.
The next question is one we have entertained many times before. Will government commandeer private pension plans, 401Ks and IRA’s in return for a government guaranteed annuity; will these retirement plans be traded for US Treasuries; or like one bill says, limit the amounts that can be removed and how many times you can remove funds?
The only way we know to protect yourselves is to get out of these vehicles, or borrow against them and invest in gold and silver related assets. Those of you who want to cash out and move out of the country had best do so soon. We believe there is a good chance capital controls could be put in place in the US.
We previously lived under such currency blocking in the 70s in South Africa and Rhodesia, now Zimbabwe. It is like being in a financial prison. Such restrictions would, of course, be wrapped in anti-terrorism terms, so few will suspect what is being done to Americans. The window of opportunity to leave the US is probably only two years away, or perhaps three years.
in reply to: Miscellaneous #4810The following comments are from Martin Armstrong in today’s article from http://www.martinarmstrong.org entitled “We Print Bonds – Not Money.”
We are indeed putting lipstick and a dress on the pig and pretending this is the New Year Baby. So put your glasses on and open your eyes. Trust me. It is still a pig. Sleep with one eye wide open. Use some common sense. The SYSTEM of debt is collapsing.
This is not unique to any one country, for everyone is going down the drain. We are NOT printing money! It is much worse. We are printing money in the form of BONDS that pay interest ensuring the greatest transfer of wealth export in the history of the world. The “Greenback” issues were far more than not gold backed.
They couldn’t afford the interest and so they stopped paying it. Hello! Sound familiar? The interest is killing us. You can chop every program and people will starve on the streets. But guess what! The debt will keep growing until you stop this insane game of borrowing perpetually. Common Sense would be something to pray for.
in reply to: Gold Enters Major Bull Market #4809The mine sold gold today at $1596.60 an ounce (spot price NY). Mike said this is the highest price ever received for bullion.
in reply to: From the Sixteen to One Archives #4808I bought a rare periodical (published in 1922) years ago with a fascinating cover and found the story below written by John Hammond. Hammond was born in San Francisco on March 31,1855. He benefited from an education and training in science, engineering, philosophy, mining and technology. In 1880 he was chosen by the United States Government as special expert for the geological Survey to examine the gold fields of California. His report on the gold resources of his native State, made after the most thorough investigation, was the most comprehensive ever prepared up to that time and is one of the recorded government authorities. Please enjoy his story. John Hammond’s biography is one of the most interesting I have read, a complete surprise set with historical importance.
The Story of Gold
By: John Hays HammondThe preeminence of gold throughout all history, as a precious thing most desired by man, is not altogether easy of explanation. As a metal it is far less valuable to man than iron, coal, and a score of other substances of daily use. Yet its name had always stood for super-excellence. This high regard for gold is probably based, in part, upon a race memory of the time when it was the only metal known to mankind. Unlike other metal, which, as a rule, require some smelting or some other process of reduction to separate them from their ores, gold is abundantly found in an uncombined or “native” state, so that our ancestors found it lying free and may have made ornaments of it long before they discovered the use of fire. It was so soft as to be easily wrought while its beauty appeals even to the untutored savage.
Gold ornaments are found among the remains of the most ancient civilizations. Methods of producing gold are illustrated in Egyptian rock carvings as far back as 2500 B.C. Sheepskins used in the earliest times to catch particles of the precious metal wash from river sands probably gave rise to the story of Jason’s quest of the Golden Fleece.
Originally, gold and silver were weighed when serving the purpose of money, just as gold-dust is weighed today over the counter of the mining-camp trader, but gold coins were used some six or seven centuries before the beginning of the Christian era. In the Middle Ages, the superstitious reverence for gold assumed its most striking form in the fantastic doctrines of the alchemists.
Gold came to be regarded as the most perfect and “noble” of substances, and was mystically associated with the sun, as silver was with the moon. Comparatively little of the metal was produced by medieval miners, and it is estimated that the total stock of gold in the world at the end of the fifteenth century did not exceed a value of $225,000,000. Coming down to modern times, we find that gold plays a conspicuous role in human affairs, for reasons that can be clearly defined.
First of all, it is the best monetary standard thus far discovered, and organized society could hardly exist without money. Gold is suitable for use in making an immense variety of objects in which it is desired to combine beauty with utility, for the reason that it is extremely malleable and ductile, does not tarnish, and is not easily rusted or dissolved. Compounds of gold are used in photography and medicine.
Lastly, it was the lure of gold that opened up some of the richest agricultural and grazing lands of the world to settlement and development. The Pacific Coast of North America and the adjacent interior were believed to be almost devoid of valuable resources before the gold rush of 1849.
Speaking in the United States Senate a few years earlier, Daniel Webster said: “What do we want of that vast and worthless area – that region of savages, wild beasts, of deserts, of shifting sands and whirling winds, of dust, of cactus, and of prairie dogs? To what use could we ever hope to put these great desserts and those endless mountain ranges?”
Gold seekers populated the country and the transcontinental railways followed the trails that they had blazed. Today, California is one of the most productive agricultural regions of the earth, while the value of her manufactures is ten times the greatest value ever attained by her output of gold.
The story of gold in the United States began with the gold rush in 1849. California still leads all other States in the production of gold, though Nevada, celebrated for its Comstock Lode, is rich in silver as well as gold. Colorado, with its Cripple Creek and South Dakota, which possesses the most productive individual gold mine in the country, are close rivals.
An interesting fact in connection with the discovery of gold in California by Marshall in the year 1848, is that a discovery of it had been made three years before that date by Mexican miners in the San Fernando Canyon, not far from Los Angeles. These miners extracted from a “placer” there about $100,000 worth of gold before the deposit was exhausted. In 1880, while engaged in the examination of the gold miners of California, I met Marshall, who accompanied me to Coloma and pointed out the spot, as nearly as he could identify it, where he discovered his first nugget of gold. Out of some curiosity, I panned there and found a nugget weighing about fifty cents in value. This was the size of the first nugget Marshall had discovered.
No other metal is so ductile or so malleable as gold, an ounce of which can be drawn into a wire fifty miles long. It has been beaten into leaves 1/367,500 of an inch thick. Gold beating and various methods of gilding have made almost pure gold so commonplace a substance that we see it about us on all sides – on signs, picture frames, furniture, pottery, the binding and edges of books, and even spread over broad architectural surfaces such as the dome of the Library of Congress, in Washington.
in reply to: Gold Enters Major Bull Market #4807In the following linked article Martin Armstrong takes issue with some people who believe that by creating a gold standard it would help solve some of our problems:
http://www.martinarmstrong.org/files/Gold%20v%20Money%2007-19-2011.pdf
in reply to: Gold Enters Major Bull Market #4806By Silver Shield,on July 18th,2011
“This is the news that I have been waiting for and is probably the reason why silver has been so strong the past couple of days. The HKME(HONG Kong Metal Exchange) is starting its silver contract this Friday July 22nd! This officially breaks the Anglo American monopoly on silver. This will be the first time that Asians can buy and take future delivery of silver in Asia. No longer can the CME(Chicago Mercantile Exchange) raise margins close to 100% in 8 days. (Then refuses to lower them despite a 30%+ drop in 5 days.) The extended hours should also stop the 10 am smack down since traders can now access the HKME.
The silver shorts should be fearing the hundreds of millions of Asians that will be entering this small market. China alone has Trillions of dollars and they could drop .01% of that money into silver and explode silver beyond the control of the Anglo American Elite. The HKME contracts are also a lot smaller,only 1,000 ounces versus 5,000 ounce contracts.”
in reply to: Miscellaneous #4805Sutter Gold Mining Inc
2011-07-14 09:18 ET – News Release
Mr. James Crombie reports
SUTTER GOLD CLOSES US$ 20 MILLION PREPAID GOLD PROJECT FINANCE FACILITY
Sutter Gold Mining Inc. has closed an agreement with RMB Australia Holdings (RMBAH) wherein RMBAH will provide a secured prepaid gold facility to Sutter in the amount of $20-million (U.S.) (see press release dated June 22, 2011). The final delivery price is $941.50 per ounce, resulting in total consideration of $1,318.67 per ounce for the 53,027 ounces of gold committed for the facility over the mine plan. This plan is presented in the company’s National Instrument 43-101-compliant preliminary economic assessment for the Lincoln project (see press release dated May 4, 2011). Sutter has made its first draw under the facility, repaying its existing debt and financing the first month of the 12-month development schedule for the Lincoln project, as announced in its June 22, 2011, press release.
in reply to: Gold Enters Major Bull Market #4804Gold $1587.30 OFF $17.80
Silver $38.94 OFF $1.61Concerning a technical perspective on gold, the probabilities are increasing that we may have already made or are going to reach a temporary high point soon enough barring a big negative financial development.
Some years ago the market analyst, Joseph Granville, did a study of short term buying and selling pressures. Granville determined from consecutive daily highs and lows there always seemed to be clusters of strength and weakness pushing prices.
Granville ascribed to these clusters the terms of “up fields” and “down fields.” He found that these rhythm clusters travel a certain extent and then they reverse from exhaustion.
Gold’s daily short term price pushes to the upside usually cluster at around 10 positive days, basically, in its up fields before a reaction sets in. This year in March, gold hit 1440 on 9 positive days as a tail wind, on June 1st a 10 day positive up field took gold to 1575 and yesterday gold hit about 1610 being pushed higher combined with the aid of an 8 day up field performance.
The up and down fields are basically strings of buying and selling sprees. Most of the time, excluding fundamentals, some traders just trade the technical picture while the media hasn’t a clue and tries to explain price movements with their jibberish which is non sense. Traders take a contrary position as up and down fields appear to reach extremes.
So, is an 8 day up field enough on this ride to stop prices or will we have a few more positive days? There can be two down days(today is one) which will keep the up field intact but three will end it with the possible cluster of down days to follow. We’ll just have to wait and see.
Silver continues to be volatile as compared to gold. Gold was off 1% today while the naked silver shorting community(four domestic bank) pounded it lower by 4%.
in reply to: Gold Enters Major Bull Market #4803Silver, what a pretty chart:
in reply to: Gold Enters Major Bull Market #4802Gold $1603.60 UP $9.50
Silver $40.53 UP $1.20http://www.kingworldnews.com is the place to go to get all the information that you require in understanding why gold and silver, eventually, must go higher.
James Dines said just last week at the site, being interviewed by Eric King, that silver is headed to $300 to $500 an ounce. It’s quite an interesting interview, as Jim is a colorful guy.
in reply to: Miscellaneous #4800Lawmakers are considering changes to how Social Security is adjusted for inflation.
What’s wrong with conducting an honest poll of what people spend their money on and thus creating an inflationary index based on our normal expenditures so proper adjustments can be made to Social Security checks that’s representative of reality?
As things currently stand, about 65% of all the money(real purchasing power) that was deposited with the Feds in our names will never see the light of day, it’s gone. And now they are proposing to take more?
What a great pension plan, it’s called, “Squeeze the People.”
- AuthorPosts
