October 25, 2021 
 Monday 
 
 

Forum
Topic:
Gold Enters Major Bull Market

       

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 By bluejay

02/15/2021  12:53PM

Silver update

Jsmineset.com is reporting from one of their European contacts in London that the big silver ETF(SLV) can’t find physical silver.
 By bluejay

02/14/2021  11:05AM

What's this really about?

Treasury Secretary Janet Yellen will meet with SEC, Federal Reserve, and CFTC officials regarding the Reddit-trader craze.

Sorry, it's about silver, gold and the Dollar in particular as they don't want the Dollar pushed lower.

Seems like they are creating strategies concerning silver and what they anticipate, another second wave of buying. It has been stated that there was such a rush of buying in the silver ETF(SLV) that J.P. Morgan had to sell it remaining silver horde of over 100 million ounces in an attempt to hold the line on the metal at $30. Silver closed $27.35 on Friday.

goldsilverpros.com reported that silver supplies are down to about 3500 tons with the majority being held in London.

Willem Middelkoop recently said that the silver paper short dam is near to breaking. He says it could just be a matter of weeks or a few months. He said when it does break, silver could go to$100 within a week.

Gold would also take off with Silver's strength and down would go the Dollar.

That is the real reason for the big Yellen pow-wow last week. You think they're going to tell you what is on their minds when they are running scared?

George Carlin said it best something like this, you ain't in the club.
 By bluejay

02/11/2021  10:00AM

As expected, as silver gets manipulated gold is expected to follow suit. .

Interesting, Rhodium and Platinum aren't a worry of the bankers and both metals are very strong lately with Rhodium making all-time highs at $19,300 an ounce.

Just became aware of renewed shorting in some of the silver issues. Put in an order for some Comstock at the offer of $2.04 and purchased it at $2.0399. This is a short getting in front of a public order.

These people are so brazen manipulating markets. The Fed's position is they will teach the Millennials to stay in their own backyard at any cost.

Silver is the cheapest asset to buy today, When it plays catchup, it should be quite an event.
 By bluejay

02/11/2021  9:29AM

Missed an addition to the previous entry.

The Fed is serious in helping out the troubled silver metal and newly acquired company short positions. So expect more manipulation in this sector to follow until the paper shorts in the metal turn into notices for physical silver delivery. Right now it is a chicken game.

Who can press the other more over a limited time period?

The U.S. Dollar is looking to turn lower soon. It is just a matter of time until the fake silver selling pressure by the Fed and their cronies is terminated by real international market conditions.
 By bluejay

02/11/2021  8:53AM

Yes, this could happen to the 16 to 1.

But, shorting only happens where there is activity.

I am older now but have spent years around stock trading activity and it is of my opinion that Fed orders were given to all New York banks to silence the recent effort by Millennials trying to put the squeeze on the suspected silver shorts while at the same time buying related silver stocks..

A week ago last Monday, a large amount of accumulated buy orders was unleashed upon unsuspecting low priced silver related company's shares. The market markers had immediate losses whatever company they worked for. Word went out that some firms might be in trouble with their losses which resulted from their market making function of providing shares when few or not many were being offered by the public holders.

It was at that time that the trading departments of the banks that sell Treasury bonds from the Fed got involved. These are the Fed's big pet New York banks and owners of the Fed which is not government owned.

The banks just started selling where activity warranted. It just so happened the Millennials really wanted to own Comstock Mining where fundamentals in the past few years have begun to turn around.

Ironic, the case that Comstock Mining doesn't have gold or silver in its corporate title, like the 16 to 1, mattered little. The younger generation apparently knows how to pull up data and, maybe, in the corporate title doesn't need to specifically require to describe the business in detail Not to make the company wrong but Comstock puts out a fair share of news releases..

There is apparently a massive short position in the shares that eventually will have to be cured.How this takes place is unknown when compared to the issued amount of shares by the company just doesn't exist to square up all the shorts.

Concerning accessing short positions in the OTC market, GOOD LUCK. Wall Street these days is an insiders club only! The rules are for them and if the rules aren't working, they change them to suit themselves. Buyers beware!

Disclosure: bluejay has a long position in the company but small in comparison to his 16 to 1 position.
 By SCOOP

02/10/2021  3:19PM

Hi Bluejay, love your input here.

Comstock Mining is one of few legitimate small mining companies. The crews are well established professionals. The properties are intriguing as its financials and shareholder base. How does shorting a company like this happen and why?

Scoops point: shorting this one is dangerous. How to track shorting Comstock trade volume? Who is there to squeeze? Could this happen to little old Sixteen to One?
 By bluejay

02/10/2021  8:40AM

Intervention in precious metals by the Fed this morning. They are trying to protect New York banks who were indirectly ordered a week ago last Monday to blanket attack the rising interest to buy all silver related issues with short sales. These massive shorts still exist.

Their problem this morning is the U. S Dollar is on the verge of picking up steam to the downside.

Gold and silver want to go higher for some amount of weeks.

Fed trying to protect the Dollar but public buying starting to build for all gold and silver items is challenging them and more back peddling is going to be required by them.

If silver breaches $30 all their games will be off the table but for now, expect more interventions.
 By bluejay

02/08/2021  1:43PM

Comstock Mining, Virginia city was up today as a result of an over abundance of short sellers getting price squeezed.

As I mentioned previously, more shares were sold last week than were issued by the company. The final result of this extreme imbalance could be anything.

The shares closed at $2.11 today up $0.36.
 By bluejay

02/06/2021  8:58PM

Great interview for today on silver and gold,

go to stansberry.com and

select and watch the video interview from Feb. 5th of Willem Middlekoop by Daniela Cambone.
 By bluejay

02/05/2021  9:24PM

Not only is the Fed a problem for the public holders of U.S. Dollars but the SEC stinks as well.

Comstock Mining out of Virginia City, Nevada is a case in point why the securities regulator, the SEC, is run by children.

These hired help fall flat on their face in protecting the public.

Comstock Mining, in the last information available, has nearly 35 million shares outstanding with 22 million shares closely held by management,

Last Monday, over 300 million shares changed hands. Only once in past months it had reached 200 million shares but generally the shares are with the two exceptions, generally traded moderately.

So, it would appear people who bought shares on Monday do not own any ownership in the company as the sales were quite likely short sales, selling shares while not in possession of the physical shares.

So, what happens now if recent buyers want to sell shares to a bonafide cash buyer? Where do the shares come from?

It is heard that the Gamestock buyers are being investigated. The SEC is investigating chat sections on various sites. Who is the SEC working for the public or the hedge funds?

Does the SEC with all their computers think there is something not right with a stock trading in one day about 10 times the amount of its outstanding shares??

The SEC has allowed massive short selling to serve the purposes of the Fed. The SEC has turned what use to be honest stock trading into the days of Jesse Livermore when bucket shops were used to make and take bets on whether a stock would advance or decline without certificates changing hands.
Now, with all this computer trading with relaxed rules and brokerage firms all getting together telling their customers that some days ago that they would not act as their agent and buy GameStop shares for them.

The stock should have been issued a stop trading notice sometime last Monday when trading obviously was way out of balance.

What is is believed to have happened is that the big New York banks were given the go-ahead to short any amount of any sharply advancing silver share prices and not to worry as they would be covered by the Fed who is now in the stock business just to discourage the new troop of Millennials who are gathering with their buy orders to push over sold and heavily shorted securities higher.

People have to be careful when buying into run-ups, especially when the related shares are in a bull market. In bull markets there will be fast reactions lower, a common event. These quick sell-offs are designed to throw you off your position as if you were riding a bucking bronco. In bull markets as gold and silver are in, take some patience and wait for the inevitable weakness by putting in your lower bids and play the probability odds.

Stealing is on the increase in Wall Street. Some good advice could be to order your certificates out of the broker's custody. It was heard recently at jsmineset.co by Bill Holter, that taking your excess amounts out of your checking accounts and buying pre-1965 common U.S. 90% silver coins would be very smart, if you can find them with the premium being reasonable. Currently the premiums are high.
 By bluejay

02/05/2021  7:59PM

Correction:

The sizable correction in silver and the silver related stocks took place Tuesday, not Monday of this week.
 By bluejay

02/04/2021  12:45PM

Gold $1792.90. off. $42.70
Silver $26.06 off $ 0.59

Gold and silver continue to remain weak following the brakes being put on by the
Fed prior to the openings on Monday.

The Fed has a printing press and as long as people are willing to transact their business using their debt ridden backed Dollars then they will continue to intervene in markets using them to their advantage.

Remember their theory is to keep the Dollar up while they on the other side of the coin flood the markets with newly excessively printed Dollars eroding purchasing power in the ones you hold in hand.

Their purpose is to allow the government, along with their printing massive amounts of dollars, to easily sell Treasury bonds while the Dollar is subdued from going lower.

The sudden burst of silver buying last week unnerved them and they acted.

The point of this entry is to express an opinion of the under handed ways of the fed at the pubic's expense.

Each time the Fed puts the brakes on sudden strength in the gold or the silver markets they tip off their New York crony trading departments at the big banks to what they are about to do. The trading departments step in following receipt of inside information and either start selling or buying as the case maybe. Concerning these two metals, you can bet its advance notice of the Fed's intentions to gut prices.

So when the public and all the websites and their chat room followers were convinced silver was going to be squeezed and were in a buying frenzy, the NY banks were selling to them shares they did not own in mass.

That is how it works when the Fed is not audited or closely monitored by impartial regulators, the public gets screwed. Today and starting on Monday the New York banks are slowly covering their shorts and stealing millions from the public and where are the regulators?

Even a member of the House of Representatives steals with inside information. Recently, it was learned that Nancy Pelosi purchased for herself Tesla stock prior to the government announcing that by a certain year all government cars would be electric. Major portions of our government representatives need to get their greedy butts out of their fake positions of purporting to represent us when all they do is take a good salary, get good pensions, a great health care package, engage in petty bickering between themselves and have created a law that specifically prohibits them from being prosecuted for inside trading.

Abolish the Fed.
 By bluejay

02/02/2021  7:02PM

Recently the hedge funds received a real whipping from the Millennials when their short positions were severely pressed with a large amount of buy orders from them for a security called GameStop. The stock exploded from just under $50 to just under $500. Their total losses could be in the excess of millions. Why is this story being included under this topic?

Well the Millennials are now salivating at squeezing the the short position in the silver market. Squeezing the short positions in silver means indirectly challenging the management of the U.S. Dollar by keeping gold and silver low and that means, messing with the argentarii who make up the Federal Reserve.

The Millennials are a force to be reckoned with in their chat rooms and the spreading of the word that GameStop was a target for a short squeeze with the high amount of short interest. This actually influenced folks to put the pedal to the metal with buy orders and the result was, liftoff.

Without going further, it must be understood that the Fed has been involved in many interventions in the suppression of gold and silver for many years. The big and continuing problem for them is loss of purchasing power in the hands of people who hold it and use it for commerce.

It's an old game and the trick is on the people who save Dollars. The government's rigged CPI is minimal compared to the real annual rate of 10%. The main sufferers are the workers who turn part of their wages over to the Social Security Administration for later monthly payments. Their responsibility should be to preserve your buying power for later years but they don't. It would be nice if they would invest in something with a future. Instead, they lend it back to the Treasury for future destruction as the result of constant inflation.

Ok, back to silver. Why does the FED have J.P. Morgan in charge of keeping silver and gold as low is possible with the help of other big New York banks? Actually, J.P. Morgan is one of the few banks that holds physical silver but practices shorting the metals for great profits. Recently the firm was fined nearly one billion dollars for manipulating these markets. This was probably an insignificant amount of money as they are still in business and guess what else, no jail time for anyone involved.

Undoubtedly as a result of silver nearly touching $30 an ounce on Friday, the Fed encouraged the Chicago Mercantile Exchange to raise margin rates on silver because it had made such a dramatic price rise. Really. The metal only went up three or four dollars. The truth of the matter is if silver had busted through the $30 level it would have technically exploded and took gold upwards along for the ride.

This probably would have caused weakness in the Dollar and that's the way things today are not suppose to work. The Western European banking system is bankrupt. If it had not been for the Fed lending Dollars to them their system would have imploded some time ago.

The Fed knows with all the money printing taking place here that it is just a matter of time before Dollar holders abroad get extremely nervous with their position.

So the Millennials needed a spanking to bring them into line and one was provided them with Friday's killing margin increases.

The silver stocks late last Thursday and all of Friday has some spectacular moves based on silver's firmness. Everyone became greatly enthused for quick profits based on the great GameStop move with brokerage firm's normal reporting times delayed over and over again during the activity on Friday.

Today following the announcement of increased margin on the buying of silver contracts the metal was off over $2 and the silver stocks followed suit with some large percentage losses.

Right now, silver is trading at $26.90, up $0.41

Gold is trading at $1842 up $5.60.

One major potential problem for the banks who are short silver,

You do not own silver, and the day is coming when you must make delivery. If the banks are called to deliver physical silver and they fail to cough it up, then the contracts will be settled in cash and from there forward the futures silver market will end and it will be cash only. This will be extremely bullish for silver. If that takes place expect the silver to gold ratio to go to 19 ounces to one ounce of gold. It is now 69 to 1. At the last price of gold tonight, a 19 to 1 ratio would take silver to $97 an ounce.

This is what the Fed Fears and the reason for punishing silver's recent buyers.

Higher gold and silver prices would force the U.S. Dollar to contract in price.

At the current outstanding amount of debt in the U.S,, not including the questionable 8000 tons of gold that the government claims it still has plus the missing $21 trillion that the Treasury can't account for, JimSinclair and Bill Holter state, to eliminate the U.S. debt would call for price on gold of over $100,000 an ounce.
 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.

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