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- in reply to: Gold Enters Major Bull Market #5005
Gold $1724.80 UP $4.90
Silver $32.41 UP $0.70Silver’s own weakness in the past few days has apparently cast its spell on gold with its lower prices. In order for some price stabilization in both, look for gold to hold above its nearby 50 day average currently residing at about the 1716 area.
The gold stocks are starting to get weak following the breaking below of the slower MACD(12,26,9) Indicator moving average line by the faster one. This indicates that the short term upward momentum has been broken with some gifted time ahead for some to ponder taking new positions or adding to old ones on the usual scale down buy basis. It is expected that the naked shorters again will have no mercy on our markets.
in reply to: Clips from Alleghany #5004Ray’s home is in the north-east general area of the fire area s/w of Reno and he most likely has been evacuated with his wife and dog. Embers were flying around earlier in the area from the main fire. The wind has now died down with slight snow falling for the past two hours.
in reply to: Clips from Alleghany #5003Just heard about the fire in Reno. Does Ray still have his house? Our thoughts are with you.
in reply to: From the Sixteen to One Archives #5002Some say I’m a blatant pack-rat when it comes to gold mining history, especially Alleghany and the Sixteen to One. No comment; however yesterday as I was arranging important stuff I saw an old California Mining Journal and wondered why it was here. One look at the index revealed the answer and now you can read an article that I do not remember about an interesting piece of the mine’s history. I encourage you to do so and click on NEWS for the title, “Closing the Original Sixteen to One Mine, Inc.”
I learn something new about this company and mine every day. The closing sentence strikes truthful today only “misguided governmental treatment of regulations” could substitute for the word, “economics”.
“But the present operation has been continuous since 1911 and a little more than half a century later the economics of the country, which has swung to soft currency instead of hard money, has brought a steady reliable contractor to the economy of the country and the state, the nation too, to its knees.” The Endin reply to: Miscellaneous #5001Excerpt from a Sacramento Bee story by Stephen Magaguini in 1998 entitled, “Chinese Transformed Gold Mountain(California):” Part 3
In 1863, California’s 25,000 Chinese miners enjoyed their best year, pulling gold out El Dorado, Placer, Amador, Calaveras, Butte and Trinity counties. But by 1868, nearly all had left the mines. Some joined the new wave of Chinese immigrants who came to build the western leg of the transcontinental railroad, completed in 1869.
They were hired by Charles Crocker, who figured if their ancestors could build the Great Wall over mountains and tundra, they could lay track over the Sierra Nevada.
Chinese later played a huge role in California’s agricultural development, building Delta levees based on the Pearl River Delta in Kwangtung province, planting orchards and raising potatoes, onions and asparagus.
A smattering of East Indians, Malays and South Sea Islanders also made it to the Gold Rush.
Chief among those were the “Kanakas” (native Hawaiians), great sailors who worked on many of the schooners that came to California. John Sutter, who sailed to Sacramento from Honolulu with a crew of 10 Hawaiians, said “I could not have settled this country without the aid of the Kanakas.”
in reply to: Gold Enters Major Bull Market #4999Gold $1169.80 Down $11.30
Silver $33.88 Down $ 0.69From a recent interview of Martin Armstrong by King World News:
When asked about gold, Armstrong responded, “Basically what you are doing is you are building a sideways type of base. Eventually gold is going to take off to the upside, but largely when people begin to see the Emperor has no clothes and we’re getting close to that. I would only give it a few more months.”
in reply to: Miscellaneous #5000Well, if the judgement is a sucker-punch, we will gather our resources and spirit anf fight back via appeal….
My gut tells me that we will survive before that crappy bad-dream ever becomes plausible. I am an optimist, the nature of why we chase our dreams with such passion, determination and vision.
Let’s focus on the future underground.
in reply to: Miscellaneous #4998Who is really trying to steal some of our properties with this bogus miscarriage of justice started by the Water Board?
Who stole $700 million from MF Global? Its head Jon Stevens Corzine, the past governor of New Jersey and past U.S. Senator, went crazy with all the financial exposure he put on the backs of Global’s customers. Currently, the heads of the SEC and CFTC can’t figure out where the money went. Maybe it’s suppose to stay that way with American pockets getting picked again.
MF Global is a brokerage house. Some of their accounts had commodity positions and evidently their CME positions don’t exist any more. The CME is suppose to insure their members accounts against fraud but they say, they’ll only cover 50% of them.
Both Global’s Corzine and the head of the CFTC, Gary Gensler, held prominent positions at Goldman Sachs during the late 1990’s.
Did any Water Board members or State officials ever work for Goldman Sachs?I heard one of the newly appointed Prime Minsters of either Greece or Italy use to work for Goldman Sachs. At the end of the linked article below is the translation of a European editorial voicing negative opinions concerning Goldman.
Mary Shapiro’s integrity as the head of the SEC is being questioned by both Bob Chapman and Marrtin Armstrong. The SEC was one of MF Global’s regulators. In the linked article “SEC’s Lack of Regulatory Authority” written by Martin Armstrong, he points the finger at its head, Mary Shapiro.
http://www.martinarmstrong.org/files/Shapiro%20Corzine%2011-15-2011.pdf
in reply to: Gold Enters Major Bull Market #4997Gold $1778.10 OFF $2.20
Silver $34.39 UP $0.15The metals are basically flat today although technical internals on the both of them are as interesting as always:
Here is a quote from Alf Field:
“Once this correction(on gold) has been completed, Intermediate Wave III of Major THREE will be underway. This should be the largest and strongest wave in the entire gold bull market. The target for this wave should be around $4,500 with only two 13% corrections on the way.”
Mr. Field’s keynote speech at the Sydney Gold Symposium taking place yesterday and today can be viewed under the title, “The Moses Principle” at http://www.jsmineset.com.
Silver on the other hand is still passing time following its price run-up to near the $50 level earlier in the year. Currently, the shorting factor in this market continues to apply selling pressure using the chart’s 50 day moving average line, today at $34.57, as its main staging point. As weakness develops from this area the shorts increase their intensity. It remains to be seen when silver will be finished with its corrective phase. The first step would be to surmount the 50 day moving average and chase away some of the shorts in preparation to attack its 200 day average 36.67.
During this period continuing to acquire small amounts of the silver bullion coins on a weekly basis looks good to me which I am doing.
Just went outside and saw another chemtrail being put into the atmosphere from a passing jet. I was told that Alex Jones has done a story on chemtrails on Prison Planet on the Internet where he discussed the mixing of Barium Salt into the jet fuel and how dangerous it is to our health. Something to check into.
in reply to: Miscellaneous #4996The SEC, the Master of Euphemisms
From the Autumn Trends Journal:
The S.E.C. Faults Credit Raters, but Doesn’t Name Them
The spin: “An examination of credit ratings agencies found repeated instances of the companies failing to follow their own procedures or to manage conflicts of interest adequately.”
The spin un-spin: The rating agencies twisted their own rules to allow their clients to defraud the public. And it was more than just the rules being twisted. The entire client.rating agency relationship had been turned upside down. In the old days, the clients of agencies were investors who purchased corporate debt. Today, it’s not the buyer of debt(investors) who pay the rating agencies to rate the investment, but rather the firms that issue the debt.
The spin: Several inquiries found that the agencies had issued inaccurate reports, failed to report or manage conflicts of interest and appeared to put generating revenue ahead of rigorous financial analysis.
The spin un-spin: “Inaccurate reports” = Lies. “Failed to report or manage conflicts of interest” = Fraud. “Appeared? It didn’t appear, it was! “Generating revenue ahead of vigorous financial analysis.” This is Econo-Waffle! It makes it sound as though there was a regrettable lapse in otherwise high professional standards, rather than a bunch of ruthless crooks complicit in deliberately ripping off billions from investors who trusted their ratings.
The spin: “For the investing public, however, the S.E.C.’s report is likely to be of limited value because the commission did not name the agencies at which it found deficiencies. Instead, it described its findings as having occurred either at one or more of the three large agencies – Moody’s Investor Services, Standard & Poor’s and Fitch Ratings – or at one or more of the seven smaller ratings firms.”
The spin un-spin: “Investing public” – victims of the fraud. “Limited value” = worthless and useless. “Did not name the agencies” = refusing to divulge to both the investing and non-investing public the names of the crooks. “Deficiencies” = Lies, Frauds, Misrepresentations.
The spin: “The S.E.C. also said the procedures at one of the large ratings agencies “appeared” to allow for limited dissemination of a pending rating action in some instances prior to public dissemination.”
The spin un-spin: Kept new ratings hidden from the public so that their cronies could cash in on the inside information. In other words, giving the bookie the inside tip on the winning horse.
These are just a few of the examples that Gerald Celente published with their statements and his take on what they had to say.
in reply to: Miscellaneous #4995From the Autumn Issue/2011 of Gerald Celente’s, The Trends Journal:
Benjamin Franklin summed it up pithily, more than 200 years ago, in his much-quoted but seldom heeded observation, “He who trades liberty for security, deserves neither and will lose both.”
in reply to: Ideal Time for Facts #4994Here’s another shaft job by government you might not hear about. This time it’s the State of South Carolina reported by the Internatonal Forecaster this morning:
Shawana Busby does not seem like the sort of customer who would be at the center of a major bank’s business plan. Out of work for much of the last three years, she depends upon a $264-a-week unemployment check from the state of South Carolina. But the state has contracted with Bank of America to administer its unemployment benefits, and Busby has frequently found herself incurring bank fees to get her money.
To withdraw her benefits, Busby, 33, uses a Bank of America prepaid debit card on which the state deposits her funds. She could visit a Bank of America ATM free of charge. But this small community in the state’s rural center, her hometown, does not have a Bank of America branch. Neither do the surrounding towns where she drops off her kids at school and attends church.
She could drive north to Columbia, the state capital, and use a Bank of America ATM there. But that entails a 50 mile drive, cutting into her gas budget. So Busby visits the ATMs in her area and begrudgingly accepts the fees, which reach as high as five dollars per transaction. She estimates that she has paid at least $350 in fees to tap her unemployment benefits.
“It really boggles my mind,” she said. “This bank is taking little bits of money out of thousands of pockets, including mine.”
in reply to: Ideal Time for Facts #4993Bluejay and everyone: government is the problem…lest we not forget the other half: politically appointed judges with bias toward those that put them there. Its akin to two wolves and a lamb voting on what’s for dinner.
in reply to: Ideal Time for Facts #4992Because government is the PROBLEM, they live in a state of denial and cannot correct the situation for they cannot objectively look at themselves. Instead, they attack the people.
in reply to: Ideal Time for Facts #4991The regulating Federal agencies of the SEC and the CFTC are in the same camp as the Water Board, abusers of power.
In the following excerpt from the November 4, 2011 article entitled “Is Western Civilization on the Verge of the Equivalent to the Fall of Rome?” Martin Armstrong spells out the failings of important market overseers.
“Then, if we look at the current global economy, the catalyst for the immediate debt crisis began with the abuse of credit which emerged from the New York Investment Banks that were primarily regulated NOT by the Federal Reserve, but by the SEC and CFTC! The SEC and CFTC are directly responsible for everything instead of merging and reforming them, they are handed more power to abuse.
They regulated the Investment Banks and derivatives. They were supposed to be the first line of defense. Yet, they have NEVER managed to ever prevent a single crisis or scandal from Madoff to the collapse of Lehman and Bear Stearns not to mention the quick and dirty sale of Merrill Lynch to prevent that from going into oblivion. They have served no purpose and protected the very people that created the economic crisis. Even the Pro-NY Banks mouthpiece Bloomberg News reported on October 28th, 2011: “The U.S. Securities and Exchange Commission’s internal watchdog has castigated the agency for missing the Bernard Madoff fraud, spotlighted employees who viewed online pornography and called for a criminal probe into the ethics of the SEC’s former top lawyer.”
in reply to: Gold Enters Major Bull Market #4989Gold $1773.20 DOWN $11.90
Silver $34.07 DOWN $ 0.83It didn’t take the paper thrashers long to attack gold in the last two days when our markets closed earlier.
The following link shows what the miscreants do just after the Comex session ends, throw paper (gold?) market orders into an arena where most folks have gone home for the day and trading is thin. Watch what happens when the Asians wake up.
http://www.kitco.com/charts/livegold.html
It is clear what is currently taking place: with the financial situation in Italy worsening, following on the footsteps of Greece’s troubles, our leaders are tarnishing the idea of owning and buying gold and silver by manipulating it lower.
In the current market their chances of temporarily succeeding seem in their favor. Gold is coming down off the round number of 1900 and silver has struggled in the past two days with its 50 day average at 35.05, a favorite spot for sellers to attack the metal when it approaches from below on a rally.
in reply to: Gold Enters Major Bull Market #4990Some of Jim Willie’s comments from his 10-12-11 article entitled, Euroland and The Gold Recovery:
This article would be remiss not to point out that history is being made. The COMEX has decided to raise margin requirements when a falling price is occurring, for both gold & silver. Normally, the opposite is the case. Notice no USTBond margin hikes, even though an asset bubble. Policy is to tarnish the precious metals as the global monetary system continues to crumble, as the USGovt deficits head toward $2 trillion annually, and the USEconomy enters a recognized recession along with Western Europe, before renewed stimulus is attempted.
With all the destinations staring the bankers and politicians in the face, they wanted the Gold & Silver prices to be pushed down. The next upsurge will be one for the history books. With new money heading to fill holes in the bank bond bailouts, the recapitalization of numerous banks, the economic stimulus, and the government debt monetization (led by the US), the debasement of major currencies will be astounding. The Gold & Silver prices will make strong new highs repeatedly.
in reply to: Miscellaneous #4988Could a Brenton Woods II save the world economy from imploding? Martin Armstrong explains a two sided world as we approach financial armageddon:
Everyone knows something is wrong. Not everyone can put their finger on it, but they just instinctively know something ain’t right. One participant of the Occupy Wall Street movement across the street from me in Philadelphia holds up a sign saying “too many grievances to list”. Others just assume we have a White Knight in shining armor ready to charge in and save the day. There is certainly no shortage of optimists that just want to believe everything will be alright. They argue we will “grow” our way out of trouble like we always have done. This group stands in contrast with those calling for the end of the world turning gold into a religion and get angry if you say there will be even just a brief pause in the price advance.
Gold is the perfect hedge against a Sovereign Debt Crisis. However, it is a matter of TIME and the majority does not see it that way. Nonetheless, this is what makes the Business Cycle function. It requires two opposite extremes that refuse to consider any other alternative. In this sense, these two extremes are like the optimist who falls off of the top of the Empire State Building and as he passes the 4th floor says: “Well so far so good.”
Both are entrenched in their ideas beyond discussion. On the one side, some refuse to think that civilization can ever collapse as it has done many times in the past. At the other extreme the Gold advocates who argue only gold is money and all fiat is evil without any realization that to create a world with absolutely no fiat is to return to the Dark Ages when there were no banks, no financial markets, no leveraging, no credit, and no jobs – just serfdom.
If M3 shows a money supply of $6 trillion and the total market cap of NYSE stocks is $15 trillion, guess stocks by law should not be allowed to trade above the total money supply since this too would be fiat! According to Wilshire Associates, the total U.S. market cap of US stocks was about $15.35 trillion at the peak in 2007 compared to the world at $51.23 trillion.
The only time that existed without some sort of fiat system in 6000 years was the Dark Ages when money itself was rare and you were most likely a serf. Then there is the academic crowd who only focus on the domestic economy and ignore the global economy. While everyone screams at each other, the real economic nuclear bomb keeps ticking away on a global scale with a countdown to an international Financial Armageddon – debt.
in reply to: Gold Enters Major Bull Market #4986“Gold Miners Bump Up Their Dividends” Will the senior gold mining shares be the blue-chips of tomorrow?
in reply to: Gold Enters Major Bull Market #4985Gold $1793.80 UP $39.80
Silver $34.94 UP $ 0.81The previous entry seemed to paint gold’s picture a little too negative. Mr. Armstrong was just commenting on a subjective technical look, taking into consideration how things could change with following technical chart damage.
Here are some of his recent comments:
Our long-term view in NY GOLD maintains that only a temporary high maybe in place at this time. In the event of new intraday highs developing beyond this year, then the final high could extend into2013 if we see a yearly closing above the 2011 high. On the other hand, continuing to make new highs beyond 2013 would warn of a broader rally extending into as late as 2017. However, if new intraday highs are not sustained next year, then 2011 may produce the temporary high on a closing basis as well as on a cyclical basis with a retest of support into 2012 on a year-end closing below 131050. To remain in a bullish position for 2012, gold needs to close above 143600 at year-end.
in reply to: Miscellaneous #4987Chances seem to be moving towards another big US bank fiasco with their growing involvement in selling billions more worth of CDS insurance contracts thinking the Greek tradegy is fixable. Remedying weekly Eureopean debt problems with more extended debt to its weakest countries only works in their dreams.
The following appeared Saturday in Bob Chapman’s International Forecaster:
While Europe tries to sort out its problems US banks have bet heavily on a solution. The money center banks have increased sales of insurance against credit losses to holders of Greek, Irish, Portugal, Spanish and Italian debt in the event of default. These are figures from the BIS, the Bank for International Settlements. The numbers leaped from $80.7 billion to $518 billion almost all of which are CDS, credit default swaps. New York banks, which in great part own the Federal Reserve, obviously are going for broke. That means in the last three months they added $350 billion in exposure. All we can say is that they must have a death wish.
As events change from moment to moment regarding Europe’s problems, predictions are difficult due to the machinations and irrationality of the elitists and the governments they control. How conceivably can governments’ bent on world government and the bankers who control them come up with solutions for the Greek euro and other EU problems? They cannot, of course, because they have an ax to grind. These are the same incompetents that created unregulated derivates, CDO’s, CDS, ABS and MBS, plus were the driving forces behind QE 1 and 2 and stimulus 1 and 2, all of which did not work.
in reply to: Gold Enters Major Bull Market #4984The broader price picture on gold from Martin Armstrong:
Gold on the Quarterly Level has not broken through the primary channels technically constricted from the Breakout Lines of 1985 and 1999. Our oscillators are showing that we are starting to turn down and the Entropy Model shows that this too is starting to turn down. These indications warn that a retest of support and consolidation may be necessary to rebuild a strong base of support from which to advance further in the years ahead. A Quarterly closing below 148000 will indicate that the trend will turn back down to retest support. A closing below 130900 will not indicate that a bear market could be developing into 2013 or at least a near-term consolidation. The major support begins at 111300 and a quarterly closing beneath this level will signal a sharp decline becomes possible down as far as 850000
in reply to: Miscellaneous #4983Greek Prime Minister George Papandreou barely survived a confidence vote with a slim margin of 153-145. This pretty much guarantees needed funds for Greece in continuing to make interest payments on its growing debt burden. Their potential financial powder-keg explosion just got moved back in time some with the pushing back of some burning brush, that’s all.
It seems bankers who have sold CDS’s insuring against debt failures just got a big reprive until the expected general election in February.
The problem with CDS’s is that experts believe the banks who wrote the CDS’s, for buyers insuring their long positions on the Greek debt, won’t be able to pay-up if the country defaults thus causing a major world financial crisis in addition to the expected damage to the Euro that would result.A credit default swap (CDS) is similar to a traditional insurance policy, in as much as it obliges the seller of the CDS to compensate the buyer in the event of loan default. Generally, the agreement is that in the event of default the buyer of the CDS receives money (usually the face value of the loan), and the seller of the CDS receives the defaulted loan (and with it the right to recover the loan at some later time).(Wikipedia)
in reply to: Gold Enters Major Bull Market #4979Reap
I think the lynch mob mentality of the State has us where they want us, in court awaiting a judge’s decision based on missed reports and their excessive penalty charges. When governments in the past got caught with their legal pants down they blew up buildings and destroyed records.
When the Water Board was proven incompetent by experts provided by the company all hell broke out against the accusers. The Board even lost(destroyed) important documents. The Board even failed to acknowledge that our mill was closed and never issued a reclassification for reduced water testing thus failing to competently represent the people of California and continued their questionable personal stance against the company and especially, its president.
It’s now all left in the hands of, hopefully, a judge who represents the people of California not to punish a company and shareholders into liquidation of their prime asset for failing to file some reports.
I understand the subject matters before the court. What does it prove to put a company out of business when they could be made whole and be productive and in the process be an important employer in the County again providing jobs and State revenues?
You would think, aside from abusively regulating us all to death, that State politicians could attempt to be creative in figuring out ways to improve job growth for revenue as opposed to the ATM Debt Machine and the stealing of other peoples properties.
We must never forget that the laws that apply to our case were not voted in by the people, they were created by appointees and were crafted personally in a sense against our company because we had a president who fought for our rights as property owners and our rights to participate in running a business.
We need a Patriot to end this nonsense.
in reply to: Gold Enters Major Bull Market #4982Greece is a financial time-bomb ticking away. If Greece decides to go it alone and leaves the Euro there will be massive financial consequences around the world for all connected banks and their customers. If they remain with the Euro, it will just take longer.
Will the Fed throw Greece a lifeperserver in preventing a fall-out from rippling over here? Quite possibly but at whose expense? Certainly not any of the big US banks whose crooked accounting ledgers would be laughed at out loudly by anyone who really knew what their condition was in.
People are in the streets today because they have been hosed at the expense of keeping the casino playing banks from going bust. A gigantic mistake made during the days of TARP legislation was not taking the burden off some from the strained mortgage payers in reducing their balances and payments due by 25%. Martin Armstrong has stated that this act would have prevented all the misery that families have suffered and would have stabilzed the housing market some while its downward cycle was generally in force for many years ahead. But for the banks to take a haircut to keep the economy going was too much to ask for.
Fortunately, starting in mid-2012 Martin Armstrong expects home prices to trend higher for the following three years then more of the same later.
By 2015 it would be not a surprise to see gold near or past $5000 an ounce. In ResourceWorld Magazine’s current issue Nick Barisheff the president and CEO of Bullion Management Group Inc says that gold is on its way to $10,000.
Buy gold and silver and invest in your future.
http://news.yahoo.com/analysis-leaving-euro-carries-massive-costs-181337877.html
in reply to: Gold Enters Major Bull Market #4981Bluejay, you’re right that the Judge is to represent the people of the County. Superior Court Justices are elected by the people in a general election, AND the term of Presiding Judge John P. Kennelly expires January 2013. That means that in the Nov 2012 General Election County residents will be voting for a Superior Court Justice.
Plus 1 for grass roots is a possible campaign that can affect the election results.
Is the next phase of the case before a Judge alone, or can a Jury be requested? Plus 2 for grass roots is having a Jury that that clearly understands how the $2 million fine is destroying the opportunities for a large number of residents. The County could lose mining jobs and all the secondary jobs, shop owners, builders, etc that depend on the mining jobs. The even much greater danger for mining in the County is that a finding against the Mine will Embolden the Water Board and other regulators as well as set a precedent for future abusive legal actions against all mining companies, not just the Sixteen. This will Destroy the economy of the County for a long time. I really believe that the future of mining in Sierra County is at stake here. County residents need to know what is going on, how it affects them, and what they can do about it.
in reply to: Gold Enters Major Bull Market #4980Gold $1764.10 UP $26.70
Silver $34.51 UP $ 0.24
XAU/Gold Index .1185(50 AVG. .1168)Aside from Armstrong’s cycle projections, the European Central Banks unexpectedly lowered interest rates today thus resulting in demand for gold.
The whole fiat monetary system has begun slowly coming apart at the seams. Few world politicians understand what needs to be done and few, if any, will admit their ignorance. The name of the game for them is to retain their power and status by printing more money and exponentially increasing debt.
We all need to be our own central bankers. Holding physical gold and silver while reducing debt, if possible, will be the order of today for tomorrow’s survivors.
Gold has bettered its 50 day moving average line at 1730.75 and needs to stay above it for any sustained upward movement over the near term. The XAU/Gold ratio continues to remain above its 50 day average with the last being above the .1168 level. The possibility improves of the shares being better performers against the metal at current levels.
in reply to: Gold Enters Major Bull Market #4977I don’t know if the Mine can get all or part of the $2 million to pay the Water Board fine. From the little information that I have about the case, I think that the State would do whatever it feels it needs to do to force the Mine to get the cash. If the Mine can get this money over a couple of years, I would suggest the following as a powerful first step. On whatever social medium the Mine is a member and in the Mountain Messenger, Sacramento Bee, etc. explain in detail how the Water Board fine came about, what happened in Court and the injustice of the fine. Then make a statement that if the Mine did not have to pay this fine, $2 million would be used to hire miners and pay salaries. So the choice that the VOTING public would have is a) do nothing and see $2 million go to the State, or b) mobilize resistance against the fine and get X number of JOBS. Of course this all depends on the ability of the Mine to get the money. If choice b) is taken, then I don’t think that the Water Board stands a chance to get a single dollar. Choice b) also buys time by delaying the whole process by a year, maybe 2, and it raises public awareness of the situation IN AN ELECTION YEAR. If successful it also sets the stage for bringing together the Mining Community and the State Regulators to negotiate a balanced set of regulations that both protects the environment and encourages mining companies to get back to the business of mining. There is enough money at $1720.90 an ounce to accomplish both these goals.
in reply to: Miscellaneous #4978The repeal by the Clinton Administration of the Glass-Steagal Act is the genesis, along with the JReno Justice Deptartment (ahem) in collusion with Dem-led Congress (ahem BFrank) all is the direct cause of the huge mess.
The poor miss-informed Occupy crowd, as we know, has been duped…
Apparently Major Blooom finally admitted it today.
Let’s see, here you go:
“You can buy a house for nothing down, and all you have to di is sign here….ahem, yes, on the line that says Democrat Party.”
“What do I have to do? I can’t pay the rate in four years! I can pay it now, but what then??”
“No worry….just sign where it says ‘you get a new house!’ and be sure to vote Dem, or else your new house will be, well, maybe in jeopardy of being repossess by the evil Wall-Street crowd, and the evil Repubs.”
“Gosh, thanks, Mr. Barny! We couldn’t do it without you!!”
Never mind that the poor people who could never afford them in the first place had to be the pawns.
WHAT A SCAM!!!!
All the $$ ending up back in the Dem piggybank. VOTES purchased.
in reply to: Clips from Alleghany #4973Company retained a buy-back with the new owner. He is a long time shareholder and friend of Mike’s. They agreed to this to eliminate any allegation of Mike giving him a sweet deal. Brown Bear is in the best group of gold mines in California for risk/reward and exploration. You like gold? You want to get into the market? Title is clean; sale has no over riding royalties and price is $5 million cashiers check.
in reply to: Gold Enters Major Bull Market #4972Bluejay! Thanks for your reply. The Haile Gold Mine case is seen as important and potential precedent setting case for the entire Mining Industry. It made the headlines on several International Mining websites.
I TOTALLY agree with you! The lawmakers and self-serving politicians don’t understand the economy and can’t or will not do anything useful. The $2 million is just a short term money grab that will have Very Negative consequences for the Mining Industry and the People of Sierra County for a LONG TIME to come. The County is in Real Trouble right now, and people are HURTING. As you say, the County is very rich in resources, but these half-as** politicians are unable to see past their own petty careers. They have totally bankrupted the State with the greatest natural wealth! Sierra People are HURTING and they don’t see any way out. But there is a way out….if they would organize and channel their energies into making Sierra County wealthy again and a great place to live.
Thanks to the blessings of Saint Steve (Jobs) for the first time in history, there is a chance for Real Democracy. Personal computing devices + internet = Democratic Power to the People. The “Arab Spring” and the “Occupy” movement are dramatic proofs of this. The uprising of the people in Lancaster County, South Carolina in favor of the Haile Gold Mine is an immediate demonstration of what can be done by the will of an organized populace.
I compared the demographic statistics for Lancaster County to those of Sierra County to see how their case would scale in our county. The most recent data is for Aug, 2011 from the Federal Bureau of Labor Statistics. For Lancaster: 30,252 Total Workforce; 4,591 Unemployed; 15.2% Unemployment Rate. For Sierra: 1,590 Total Workforce; 227 Unemployed; 14.3% Unemployment Rate. Lancaster is a larger county with a 1% higher rate of unemployment. So now let’s scale:
Lancaster County:
200 people complained 200/30,252 = 0.66% of Workforce
800 jobs created 800/30,252 = 2.6% resulting in a new Unemployment of 12.6%For Sierra County to scale:
0.66% X 1,590 = 10.5 people need to complain
2.6% X 1,590 = 41.3 new mining jobs need to be created.Mining in Sierra should be able to mobilize at Least 10 times as many people for a lot more than 41.3 new jobs in the whole County.
The moral of this story is that what was done in Lancaster can be done in Sierra, and so much more. The Town Hall is a device that Lancaster used to drum up support. With the higher penetration of PC’s, Macs and the internet in our County, organization and mobilization should be easier, faster and bigger. Besides the Social Media used in the Arab Spring, there is also excellent software that provides for a real time virtual Town Hall. A couple of these are GoToMeeting and GoToWebinar. Via the internet people can be organized around common issues to create a large grass roots movement. Then real face-to-face Town Halls can be scheduled with the Regulators and Lawmakers invited to “Face the Music”.
I guess that the Bottom Line is that the $2 million Water Board fine demonstrates that the Legal System and the greater overall State System is a greedy and unresponsive Dead End. The only alternative that I see is a grass roots movement which if done well is far more powerful than legal fighting. Remember, 2012 is an Election Year!
in reply to: Gold Enters Major Bull Market #4976Reap and Rick, lead the way.
Gold $1720.90 UP $2.10
Silver $33.79 OFF $0.16
XAU/Gold Ratio .1158It is suspected that gold and silver will trend lower over the next weeks ahead.
Gold is experiencing resistance following recent strength as it approached the 50 day average and briefly passed it on the chart at the 1732.64 level. http://www.stockcharts.com ($gold).
Silver is backing down as well from its 50 day moving average at 35.84 while the same average has recently sold beloiw its 200 day line at 36.36 which is threatening its overall short term health.
It is expected that both metals will be inclined to be in the defensive mode as backing and filling continue during this overall resting period down from highs made made months ago.
in reply to: Clips from Alleghany #4971I thought that the Brown Bear was
sold. Is there a buyback option
running? I so an exercise should
be strongly considered.in reply to: Gold Enters Major Bull Market #4975Reap! I’ve been pushing cyber recognition of this egregious situation with scant results….but the Mine is finally offering a Facebook page….but as we know this isn’t the end of the potential; hardly even a blip on the radar.
ALL: let’s take Reap’s advice and do everything we can to energize the movement. Reap will organize us….we will multiply…to expose the crap and shut the a-holes down to a point of our recovery.
We are at the brink.
in reply to: Clips from Alleghany #4974Yeah, there is a chinese joss
house not too far away from there
in Weaverville maybe we should
go up there and offer prayer for
both the Sixteen and the Brown
Bear’s wellbeing. The oriental
gods might look favorably on the
two mines.in reply to: Miscellaneous #4970Welcome To The Age Of Bank Failures
The Age of Bank Failures
19 October 2011
By Greg Hunter’s USAWatchdog.com
The U.S. stock market surged yesterday on news the European Union (EU) would deploy a two trillion euro rescue fund to help get its sovereign debt crisis under control. This news was so good even battered Bank of America stock jumped more than 10%. Crisis averted? Hold on, not so fast. Some big French banks are in trouble because they are up to their necks with sovereign debt. Naturally, President Nicolas Sarkozy wants action now. Yesterday, the Financial Times (FT.com) reported the French leader said, “. . . an unprecedented financial crisis will lead us to take important, very important decisions in the coming days.” Raising the sense of urgency, the French president added: “Allowing the destruction of the euro is to take the risk of the destruction of Europe. Those who destroy Europe and the euro will bear responsibility for resurgence of conflict and division on our continent.” (Click here to read the complete FT.com story.)
Jim Rickards of Tangent Capital says you have to distinguish between the bonds, banks and the euro. He said recently in an interview on King World News, “The bonds are definitely going to crash and burn. The bonds are toast. . . . The banks own the bonds, and if the bonds are toast, the banks are toast. . . . But that doesn’t mean the currency is toast.” (Click here for the complete King World News interview with Mr. Rickards.) Rickards expects the euro currency will survive, but many banks will not.
Reggie Middleton of Boombustblog.com says the reason for the coming bank failures is simple—high debt loads. Middleton says many European banks have 40 to 1 leverage. He recently explained how dangerous this was by saying, “I take a dollar and I borrow $39, and I go out and buy something with it. All you need is a 2% move to totally wipe you out—100%. And we all know a lot of sovereign bonds have moved a whole lot more than 2%.” (Click here to see more of Middleton on the Boombustblog.com.) Middleton is expecting more European bank runs as the crisis picks up speed.
Dr. Martin Weiss of MoneyandMarkets.com is also predicting “European megabanks will collapse.” In a recent post, Dr. Weiss said, “Sovereign debt defaults will trigger more bank failures. More bank failures, in turn, will precipitate more sovereign debt defaults. This vicious cycle will cut off the flow of credit to businesses and households, sink the global economy into a depression, and perpetuate the vicious cycle. Ultimately, we will see an extended period of great economic hardship for billions of people on every continent.” (Click here for the complete Moneyandmarkets.com report.)
The risks associated with the European sovereign debt crisis are not overblown. Some of the top government financial officials know all too well the real world consequences of a daisy chain of out-of-control debt defaults. Just last month, Bloomberg reported Treasury Secretary Tim Geithner’s warning to the EU. The report said, “. . . Geithner pressed European policy makers to intensify their efforts to end the 18-month sovereign debt crisis and avoid the “threat of cascading default, bank runs and catastrophic risk.” In his strongest public push yet for Europe to step up its crisis-fighting, Geithner said strains in the euro-area’s budgets and banks are the “most serious risk now confronting the world economy.” (Click here for the complete Bloomberg report.)
The EU can’t save all the banks, but that is not going to stop them from printing money to pick and prop up winners. As we all know, every bank cannot be a winner. The problem is so big that European banks are allowed to lie about the value of their assets to project the image of solvency. The same is true for American banks. When European banks start failing, there is no way U.S. banks will be able to avoid being sucked into a vortex of default. For anyone who thinks this crisis can be resolved with a pain free plan—forget it. Welcome to the age of bank failures.
in reply to: Gold Enters Major Bull Market #4969Reap
Your example in South Carolina of what can happen between mining, consideration for the environment along the will of some of its people is an excellent example of the beginnings of putting folks back to work. Career politicians have miserably failed in representing the people. Being an elected official is an honor that must be respected!
Unfortunately, for the great majority of lawmakers it’s all about them and what they can suck out of the system. This travesty has, as everyone knows, has brought a great deal of Americans to their knees and has broken up many families over money issues that these politicians, themselves, have created.
One familiar with history knows exactly how this country was built, excluding all the engineered wars around the world for the benefit of the munitions industry building killing machines.
America’s wealth came from the fields of agriculture, ranching and the mining. THAT IS THE CREATION OF REAL WEALTH, NOT A PRINTING PRESS. Now the people behind the curtain with the aid of paid-off politicians are trying to destroy America’s original fiber that supported our evolution from those early days.
Americans need to get organized to stop this vicious trend moving toward its self destruction. Reap, Town Hall Meetings are where it must begin.
The Sixteen to One Mine is a gold pocket mine that in past years has found it difficult to financially manage itself as a result of its ore placement. In our managing a feast or long enduring dry spell in the pursuit of gold, the State has kicked us around with nothing better to do adding to our burdens.
One of the most intelligent men in the world, Martin Armstrong, has repeated stated that we are over-regulated by leaders that don’t know how to manage an economy because they don’t understand it. The usual expected result is for them to trash it. Printing money and placing debt proves they are confused and don’t have a clue.
Sierra County doesn’t need outside regulators to direct how we are all going to survive. The Coutry has abundant natural resource wealth and it’s about time things changed. The people need to be told that it’s time to extract our golden treasures and be independent. Everyone needs to turn off their TV’s and reintroduce themselves to the independent creative thought process.
The sheriff with an expanded staff can run the county. We don’t need any more outside interference from career politicians who could care less about us. The CDAA visit should have awakened contry residents to what is coming. This incursion probably was one of the most shameful acts perpetuated against Sierra Country folks by the State.
California has been ruining our lives with their financial mismanagement and trying to control us like trained circus animals for way too long. What ever happened to our self respect??
Thanks to Reap, we have an idea of having town hall meeting as to see what direction we want to pursue. Either getting folks back to work and regaining some self respect, or continue doing nothing and expecting more of the same from the State politicians.
This $2 million plus suit against potentially one of the Coutry’s largest employers is nothing more than an attempt to steal property and beat down residents again with more abused power santioned by the State.
When is enough, enough???
in reply to: Clips from Alleghany #4966Alleghany weather report: great. Cool nights and warm sunny days are reasons for living in this quaint Californian community. Also the abundant fruit tress, ripe with their bounty and free for the picking adds to the natural environment. The environment, you say is great? How could it be when gold mining has been the major activity for over 150 years? According to a cadre of self-entitled “progressive advocates” a place like Alleghany must be a toxic wasteland of the poor unfortunate souls forced to live in the awful mining legacy. What garbage they claim as history! Enough.
Mine geologist, Ray Wittkopp, and Mike have been active lately with interest by outsiders looking for a gold situation. Rumor is the Brown Bear gold mine in Trinity County is being offered to those interested in getting into a producing gold operation with their money and full ownership. The Brown Bear is a 500,000 ounce past producer. Gold estimates by the most experienced independent geologists cautiously state that 1,750,000 tons of ore remains with an average grade of .5 ounces per ton. Let’s see, that would be 875,000 ounces. At spot this translates to $9 billion dollars. Interested parties should call the company. Mike and Ray are benefiting from the renovation of maps and reports by archivist Rose Cain, who took over the organization of data last year. This information is available to all qualified people interested in acquiring the Brown Bear or perhaps investing in other targets owned by Original Sixteen to One Mine.
in reply to: Clips from Alleghany #4968The idea of a school is very good, and probably would get funding from a university with a Curriculum of mine engineering, and Geology.
in reply to: Gold Enters Major Bull Market #4967Hey Bluejay, I’m not quite sure in which Forum category to post this. I chose yours because it demonstrates the powerful leverage that current high prices for gold can have on a Community. This ever strengthening Bull Market for the Yellow Mineral has caused a Community in South Carolina to give Very Strong support to a mining Company. Here is what I think is a very interesting article published yesterday, Friday; “Gold mine plan draws avid support … Many of 200 at hearing covet 800 jobs mine would bring”. Here’s a link to the full article: http://www.thestate.com/2011/10/28/2025954/gold-mine-draws.html
It’s about a very large open pit gold mine, Haile Gold Mine, in South Carolina. I know that this is different in at least two main areas. First, Sierra County gold is found in underground pockets of hard rock. Second, 800 new jobs is probably much larger than that which could be created in the County. But it seems that Haile faced similar problems: environmental issues; Federal and Local Government, etc. They also had the disadvantage of having the site mined by a foreign corporation. But to me, the most important point is that they had one or several “Town Meetings” in which they demonstrated that their plans for reopening the mining operations would be a great benefit to the hard hit Community. Has anything like this ever been tried in Sierra County? Like Lancaster County, Haile’s location, Sierra County has a high unemployment rate. Also like the Haile mine, the Original Sixteen to One Mine has major water issues. Strong public support forced officials to find a satisfactory compromise between improving the local economy with jobs and protecting the environment. Remember, it only took 200 people! Could a Town Hall(s) focusing on job creation in mining help overturn the $2 million fine unfairly imposed by the Water Board? Might it also greatly improve the economic future of and political support for mining in the whole County?? I’m new to mining, but “my very humble opinion” is that there is probably a large pool of pro-mining public support that can be created and tapped to improve both mining and the economy of the Sierra County.
Strong public support can be translated into another benefit, greater access to cash, both debt and equity. I own a small dormant gold mine/patented claim that seems to have good potential. So I’ve started to explore some possibilities. The first reaction that I get, which is also universal, is that the government regulations and restrictions in California are too burdensome. I feel that with strong public support the environment for mining in the State could dramatically improve. This would significantly increase the interest of possible investors.
Anyway, this is the Management Consultant half of my brain talking. Creating public support is essentially a “Basic Marketing” job. I don’t know the history, attitudes, or concepts that the local people have about gold mining. But I think that it is worth looking into. I would appreciate anyone’s feedback on this. - AuthorPosts
