November 24, 2020 
 Tuesday 
 
 

Forum
Topic:
Gold Enters Major Bull Market

       

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 By bluejay

10/14/2020  1:35PM

Barrick Gold CEO Mark Bristow on Wednesday said the gold industry in Africa should consolidate further, as he warned of a "serious reserve crisis" looming for the sector. A dearth of exploration has seen average mine life across the gold mining sector fall from 20 years to closer to 10 years, he added, speaking at the Joburg Indaba mining conference.

“The prospect of a serious reserve crisis is looming,” said Bristow. Gold production across the industry has only increased by 1.6% every year for the past two decades, he said. The Barrick CEO then said this week's deal between Northern Star Resources and Saracen Mineral Holdings was a "great example" of industry consolidation that should be celebrated.

While underground gold reserves held by major mining firms continue to be low and falling, new reserves are becoming increasingly harder to find as resources are used up, and exploration is costly. Major mining companies have a few ways to remedy their shortages. They must either discover new underground resources through exploration, or acquire them via the takeover of junior development companies.
 By bluejay

09/26/2020  7:21PM

Gold recently made an effort to move higher as it approached 1950 but got nailed with the Dollar showing some minor strength, pushing higher to a close on Friday at 94.57.

Nor too much more is expected from the currency as a few months back it gave way when 96.00 on the chart broke down and that level currently represents resistance from a significant 1000 day moving average day average.

Holding the Dollar back from really crashing benefits many as 80% of the world loans are tied to the U.S. Dollar. If anything, gold's recent strength got a little ahead of itself.

Of course, the Fed is somewhat paranoid of gold being established above the $2,000 level as the last few times attempting to get close to it they pick up the phone to Blackrock and instructed them to sell paper gold on the Comex. Of course all their connected big NY banks get this information before it falls and they short all the related gold and silver stocks prior to those orders reaching the market,. What isn't manipulated these days? From a 1934 created law, the Fed has the authority to manipulate ANY market in the world.

The Fed will never be able to manipulate the current established bull trend in the gold market which is on its way towards $50,000 plus in late 2025 that has been running since 2003. Actually, James Sinclair has forecast a price in 2025 of $87,000,

So, what really does this quick little weakness mean in the overall gold(and silver) market lately? Considering the big picture, meaningless.
 By bluejay

08/19/2020  12:14PM

Recent gold buyers getting whipped by the Fed with gold at around $1946.00.

This is all a little game to scare people away from voting against their mad house printing presses and to keep you into their losing game.

Thus cooked up selling is just a pale childish prank, totally ignore it.

A great probability is Warren Buffett is using this weakness to buy more Barrick Gold.
 By bluejay

08/17/2020  9:43PM

Typo mistakes below, two did's s/b two digs.
 By bluejay

08/17/2020  9:40PM

Buffett is very heavy into Apple Computer. About 44% of his fund's money is in this one.
Buffett is looking for growth and dividends.

Buffet's attitude towards gold has changed. As I remember, back in 2006 in a Cornell University address he stated, gold pays no return, "they did it up from the ground, did another hole and put it back in and pay to have it guarded."

The good news for the sector is, now learning of Warren's commitment to a gold related company, other fund managers won't be so timid in adding gold miners to their portfolio.
 By David I

08/14/2020  5:11PM

Bluejay
Warren Buffet just invested a half billion in gold mining stock. tThe bull is trying to escape with the bags of nuggets riding on its back. Good times are here for our mining industry. you guys need to cash in.
 By bluejay

08/12/2020  9:10AM

DAVID I

Positive points to make concerning the Dollar's weakening state in international markets. Unfortunately, our stated reserves have not been audited for some time with many questioning if they are really there.
We all know the government does not speak the truth when it comes to their representing the real CPI as it relates to increases for inflation on social security checks. They exclude many of the real CPI factors. Recently, it has been heard the real inflation rate for consumers is 10% compared to their 2-3% figured rate.

Unfortunately again with the excessive amount of debt creation and Fed money printing, a Mr. Mcleod says from a recent interview on usawatchdog.com that the Dollar will be toast by the end of 2020.

Mr. James Sinclair from jsmineset.com(Mr. Gold) says somewhere down the road the government, as a result of the expected Dollar trouble will nationalize the country's gold in the ground by taking the country's gold production.

From a technical look, the Dollar remains suspicious below 96.00 on the U.S. Dollar Index.

Earlier today the Dollar was 93.84 after recovering from a low of about 92.25 a few days or so earlier. Nearly half of the Dollars in circulation are abroad. Russia in the many past months have sold their Dollar holdings and placed the funds in gold.

The last gold price seen this morning was $1889.50, down $20.50. The silver price was $24.07, down $0.69. The recent daily stabilization of the Dollar's fall from the breakdown level of 96.00 was the stated guessing my many for the apparent reason for gold selling down from its recent high near $2100.00 over a period of days. The more volatile silver price during the same period is down from a high near $31.00.

It is personally viewed that the gold and silver prices were pushed Lower at the Fed's instructions as gold is the competitor of all this Dollar printing. It is important not to forget that the Fed has a close working relationship with about 6 New York big Wall Street banks. These banks must have access to the Fed's intentions ahead of time. So if the Fed ordered a gold and silver hit then before it took place these big NY banks were in the market shorting everything related, in one way or the other, to gold and silver. This is trading on insider information which should be illegal, which it is not anymore. Congress even supports insider trading as they have all voted to exempt their membership from being prosecuted for doing it, or stealing from the public.

Sure, DAVID I, we have plenty gold in the ground as you have stated just in the Allegheny Mining District alone but will it be enough when Dollar crunching time arrives to state as a U.S. government asset following the predicted U.S.gold mining company nationalizations?

How many trillions of debt has actually been issued by the U.S. Treasury? Dr. Mark Skidmore from Michigan State University questions why the Treasury is misreporting debt instruments sold in the amount of $21 trillion dollars, that's $21,000,000,000. Personally, it is not foreseen how the U.S. can put enough gold on the table fast enough to cover all its IOU's in a time of Dollar crisis to settle down Dollar holder's nerves. Will they forbid citizen from holding the precious metal again, and call in some or all of it?

As the printing presses are run faster and faster we will reach a crisis point in the very near future. As the famous market analyst of past, a Mr. Richard Russell has said many times of the Fed, "Inflate or Die."

Until the eventual implosion of the Dollar, all sizable price sell-offs of the metal during its major gold bull market should be viewed as long term buying opportunities.

A preference practiced has always been to put in scale down buy orders as no one really knows the limit extent of the temporary squeezing.

Gold is forever and when the world's population discovers how dangerous fiat currencies are there won't be enough supply to meet demand with that day closing in much faster than most can comprehend.
 By David I

08/06/2020  9:09PM

Our nation has 3 gold reserves, fort Knox, New York Fed. And what is still left in the ground, below your feet. I suspect that the 16 to one, has at least another million ounces of mine-able gold. Also the Ruby has 250,000 gold resource not yet mined. Knowing the ancient river channel extension from the Ruby multiple cross section of channels that extend north to Haskell Peak. I suspect several more million ounces of gold. The gold resources that still exist in California is the actual back bone of the American dollar.
 By bluejay

08/06/2020  8:32PM

Kitco.com cash prices

Gold....$2069.40

Silver...$ 29.08

Alasdair Macleod says the Dollar will be destroyed by yearend with the result of gold and silver prices going to infinity.

Mr. Macleod says with all the negative factors being weighed in expect gold futures delivery failures at COMEX.

Mr. Macleod says the current shaky position of the banking system can only be compared to France in 1790 when the Mississippi Bubble brought down the currency and along with it all financial assets. He mentions only the miners and a few companies would survive, all else poof, poof.

Anyone trying to figure whats next for gold and silver after these hefty price advances should read up on the Mississippi Bubble and learn all about the property buying frenzy that took place in the French colonies in North America prior to the popping of that bubble and what followed.

The likes of George Soros and company are out to destroy America and in the process they with their orchestrated expected unrest will be lighting the fire under gold even more.

What this group is attempting to do is clearly explained on the most recent video from usawatchdog.com by independent journalist Alex Newman.

Keep in mind a personal prediction, gold and silver may not be for sale in the near future.
As Jim Sinclair has said, if you want gold and contact some of the known holders like Russia or China and ask for a market quote expect the response to, How is Gold? $50,000 bid $50,000 asked what do you want to do?

Believe it or not, Jim Sinclair has done the math and that $50,000 figure was figured out by taking into consideration the US gold reserves plus keeping up with the printing presses. If the reserves aren't there and it can be proved by an independent audit that there is missing $21,000,000,000 from the US Treasury, good luck with that $50,000 figure.

Catherine Austin Fitts former assistant to the Secretary of Housing discovered the questioned amount with analysis by Mark Skidmore.
 By bluejay

07/23/2020  2:26PM

Source MarketWatch- continuous contract

Gold $1884.30 UP $19.20
Silver. $ 22.74. UP $ .40

It was a frightening day for the Fed as it appeared gold was on its way to bettering $1900.

The old intraday high was $1917 set on September 5, 2011. On that day the metal closed lower at $1896.50, all-time high close.
Prices supplied by the LBMA in London.

While the country suffers from the release of this weaponized virus, big New York brokerage firms doing the bidding of the Fed are making millions handling instructions via Blackwater, the Fed's agent, in controlling and inflating different markets,

Guessing, I would say the Fed had a plan in effect to hold gold at the $1900 area..Their little peep squeaks like Morgan, Goldman Sachs and such knew of this plan and heavily shorted the senior golds.

If we didn't have a shadow government in pace all these participants would have been in jail long ago or allowed to go bankrupt for front running the public and to boot, using our money and credit. It is still going on today with all these handouts. The more crises, the more handouts obligating our grandchildren to become their slaves attempting to pay back all the stolen money from the Treasury and Fed.

A person would just have to check the profits these firms continuously make as opposed to all the people suffering and the instigators stirring up problems with certain factions of the public so everyone misses the stealing.

The Fed will probably, eventually, have to close its doos just from public protests for all the shady dealings they have been involved in minus full disclosure.

Remember the American people are having their back packs filled with historical debt at the hands of the Fed as all their financial connections fill up their back packs with the people's money. For your information, fearing reprisals from the people eventually, they have their own police force. Remember the French Revolution?

Ron Paul made many attempts to audit the Fed and audit our supposed gold reserves but was always thwarted in his efforts. One of the crooks key words they like to use in keeping hidden their dirty work is, "National Security."

Ever wonder why they want to get rid of our president? Many years ago the Italian Revenue Service went into the Vatican Bank and audited it. What they found was absolutely shocking. President Obama and his family had millions of U.S. Dollars on deposit with that Bank .The problem is obvious, what was the source of all that money?

President Trump stated he would clean up the swamp. It is him that so many in the shadow government are afraid of.

So let the still in existence Fed, play its games and steal the country's money until a patriot steps forward and says, "No More."

The Fed should have been forced by the president at the time around 2008 to let the insolvent Wall Street firms go bankrupt. Instead, evidently, people were paid off to prevent this from happening and now we are all playing a heavy price with all this expanding debt supporting those decisions.

Gold is on the move because of all this expanding debt, plus the unreported $21 trillion, and no NY group of central bankers within the Fed as shareholders will ever be able to permanently stop it. They can play with it by using supposed resistance levels and charts and propaganda but in the end, unknown to them for they are real dummies along with their greedy associates is, GOLD WILL ALWAYS EQUAL DEBT. When the Day of Reckoning arrives out of necessity these stuffed shirts will be running away with their tails between their legs, hopefully, with the Iron Men in hot pursuit.
.
 By bluejay

07/23/2020  10:49AM

A little sidebar:

There currently is and for the past few days been excessive shorting in the senior gold shares.I believe this is being done on orders from the Fed or by ignorant entities.

The central bankers have lost their fight in controlling the alternative to faltering currencies as evidenced by the big commercials being trapped in a short loss that is in the billions of dollars.

Now that the Fed, out of desperation and acting like drunken sailors, has broken its charter and is now buying corporate debt and junk debt it also appears in past weeks they have been heavily buying the well known tech shares. If that wasn't excessive enough it appears for their lack any reasonable sense they are now doing the mentioned shorting to control people's appetite to protect them selfs with non counterfeit items, like tangibles.

What the Fed fears is folks turning away from their currency, our currency which has begun with increasing purchases of BitCoin and gold and silver as a few examples.

Don't forget, gold and silver and other hard assets are being acquired in place of holding dollars and government debt instruments. These are all competitors to the power of the central bankers issuing debt to the ignorant takers.The bankers will do anything to maintain their power. Their most probable next step in mind is the fantasy of convincing governments to band ownership of the precious metals.

Will the governments risk upsetting their citizens and the potential loss of their votes? For sure it won't be the party that is currently scouring the countryside for votes.
 By bluejay

07/22/2020  7:11PM

Stephen Roach former chief economist for Morgan Stanley predicts imminent Dollar Crash.

In an article published by Bloomberg last week, Roach wrote that “A crash in the dollar is coming,” adding that “The era of the U.S. dollar’s ‘exorbitant privilege’ as the world’s primary reserve currency is coming to an end.” This further weakens the U.S. economy that is already stressed by the impact of the coronavirus pandemic.

“The coming collapse in the dollar will have three key implications,” the economist detailed. “It will be inflationary — a welcome short-term buffer against deflation but, in conjunction with what is likely to be a weak post-covid economic recovery, yet another reason to worry about an onset of stagflation — the tough combination of weak economic growth and rising inflation that wreaks havoc on financial markets.”
 By Michael Miller

07/21/2020  5:26PM

No Topic on our 20 plus year old FORUM has more entries than this one, 63. Bluejay introduced the topic on 11/27/2002.

Sequestered and bored with massive amount of fluff in print? Get comfortable, click on number 63 and study this interesting golden history.
 By bluejay

07/21/2020  7:33AM

Be prepared.

The Dollar appears to be breaking down under an important 1000 day moving average line at 96.00.

In the past, the Dollar's weakness has motivated a higher gold price. Gold's strength this morning is in anticipation of the beginning of Dollar weakness. Markets these days are joined with greater volatility that most folks are used to.

Unprecedented volatility could easily join future bullish surges in this market as the 1913 creation on Jekyll Island of the Federal Reserve appears to be imploding with its current reckless behavior of giving away the nation's wealth to a select group of financially connected people and institutions who are basically robbing the people.

Under these free give aways, it is just a matter of time before the "Piper has to be paid."

Once enough people realize that there is an unaccounted amount of $21,000,000,000 debt not being reported by the Treasury which is strongly suspected to exist by Dr. Mark Skidmore from Michigan State University, with his work being supported by the University, where do you think gold is headed?
 By bluejay

07/20/2020  3:07PM

Here is an answer to a Scoop inquiry concerning silver from July of last year.

Silver's future at no time has looked any better than it has in the past few weeks.

The biggest factor is J.P. Morgan getting kicked to the curb with their shorting strategy. This has resulted from its decreasing long positions to just over 100,000,000 ounces as a result of deliveries being called for against their forward sales.

Morgan used their higher than now silver long positions to stay in place as a safety net. Now with more deliveries being required their shorting game they have been playing appears to be finished.

So, the lid that has held silver below $20 for so long looks to have been removed. In addition, the silver price over $19 looks quite positive on its daily chart.

For those of you who listened to the James Sinclair interview on usawatchdog.com you might remember what comment he made concerning silver, "when gold goes, silver will be like gold on steroids."
 By bluejay

07/15/2020  8:01AM

The last paragraph in the previous entry is quoted from Wikipedia.
 By bluejay

07/15/2020  7:58AM

In May of 1999 issue was taken with Gordon Brown's decision as Chancellor of the Exchequer of England to sell off part of his country's dwindling gold reserves. Today, it was learned that the Russians have sold about 65 tons of gold so far this year, mostly to England.

Gordon at the time justified the sale as being the smart thing to do as the funds from the gold sale would be invested in English government bonds which would yield a return, something that gold was not providing.

What a pathetic irresponsible government financial freak show. Gordon probably secured the cheaply sold gold for himself or his friends at the great expense of the English people.

It is speculated that there is a shadow state inside many world governments that steal from their citizen on a regular basis.

Just recently Mark Skidmore from Michigan State University has determined that there is $21,000,000,000(yes trillion) that passed through the Pentagon unexplained. Recorded turnover of about $90,000,000,000 in issuing new debt instruments and redemptions on a yearly basis strongly indicates that the Treasury has more outstanding debt than it is stating. This most probably was the source of the missing money.

So it would strongly appear that the Treasury/Pentagon have bypassed Congress's approval which the Constitution requires. What was the destination of all this unaccounted money?

Jim Sinclair from jsmineset.com recently explained the arithmetic that supports his gold predicted price of $87,500 which includes the debt behind the U.S. Dollar of $23,000,000,000 in his arithmetic, "the gold price must equal U.S. debt based on our reserves." Now what happens to his formula with the missing $21 trillion?

It is appropriate to note that two previous calls for a higher gold prices by Mr. Sinclair using the same formula have come to fruition when gold traded up to about $900 and through the $1650 level in years back(a usawatchdog.com video is still available on the site for greater detail where Mr. Sinclair is interviewed by Greg Hunter).

Theoretically, based on the possibility of no gold being in Fort Knox and this missing trillions being true, you are looking at $200,000 or more for gold an ounce when this debt laden monetary experiment eventually unravels.

A video from a financial expert predicts the fall of the Dollar by year's end. It is the most current video presentation at usawatchdog.com.

You will never hear any of this from the controlled nightly TV news outlets. These people run commercials with actors that don't honestly represent our diversity of ethnic races in our country, they exclude Hispanics and Asians on a regular basis.



In May 1999, then-Chancellor of the Exchequer Gordon Brown announced plans to sell off 415 tonnes of gold in order to diversify the country's reserves owing to the volatile value of gold.[3] The first series of sales amounting to 125 tonnes took place in the year 2000 across five auctions with each selling 25 tonnes.[4] By the end of 2002, UK gold reserves dropped to 355.25 tonnes while at the same time the value of gold increased dramatically leading to an estimated loss of £2,000,000,000 from the gold sold.[5]
 By Michael Miller

06/19/2020  12:51PM

Discussions on GOLD fascinate me for the diverse content. Those involved include, analysts, stock people, banking people, investment advisors, human interest people, environmental souls, gold bugs of various size and importance, con men and these others: fibber, prevaricator, deceiver, storyteller, bullshitter. The ones less open to discussions are the gold miners and gold producing operators.

Bluejay and fellow website readers, OSTO and I are in the last group. I promise to respond to the last entry next week. If you have specific questions, post them.
MMM
 By bluejay

06/17/2020  3:12PM

June 17, 2020 Wood-Mackenzie(Canada)

In a report published Wednesday, Rory Townsend, head of gold research at the research firm, said that the mining sector needs to invest $37 billion by 2025 if the sector wants to maintain production levels(3300 tons) reported in 2019. He added that the idea of peak gold continues to grow as companies haven’t replaced current production.
 By bluejay

05/29/2020  2:07PM

Suggest everyone pull up Greg Hunter's recent interview of Bill Colter and Jim Sinclair from his site, USWatchdog.com.

The bottom line will JOLT you.

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