Original Sixteen to One Mine, Inc. - Forum Topic: "Gold Enters Major Bull Market"



	April 19, 2021 Monday

Forum
Topic:
Gold Enters Major Bull Market

By bluejay
07/19/2012 6:04PM

Check out the current editorial by Jim Sinclair at jsmineset.com concerning his fired up attitude relating to the out of control crooks in our industry depressing share prices and what he is doing about it and his challenge to us.

Below is a response to the article from a poster at the Canadian Agoracom.com website's forum section:

posted on Jul 19, 12 07:22PM

Gold Industry CEO's should and need to fight back and soon. Another view of the shenanigans!

"Chris Powell, Secretary and Treasurer of the Gold Anti-Trust Action Committee (GATA) told Bernie Lo on CNBC Asia that central banks are continuing to manipulate the gold market as they are interested in supporting government bonds and the dollar and keeping interest rates low While buying as much Gold as they can on any weakness.

Further evidence of rising interest in gold is seen in the fact that due to the increased flow of gold bullion into Switzerland, the most respected depository, Via Mat International, is currently adding capacity to their storage facility. Powell also warns about "paper gold" and says that we "try to persuade investors that if they are purchasing gold, they had better get real gold - the metal. They should not get "paper gold" nor keep it or real gold within the confides of banking system."

He further asserts that "there are huge naked short positions in gold" and estimates that perhaps "75% to 80% of the gold that the world thinks it owns does not exist and is just a claim on a bullion bank that is underwritten basically by the British and American FED's."

Cheers, Mark

By bluejay
07/17/2012 8:39AM

(Kitco News) - The amount of new gold discovered has not kept up with the current pace of mine output, as the easy-to-reach gold deposits are being depleted, said a mining consultancy group on Tuesday.

From 1997-2011, there have been 99 discoveries of gold deposits containing at least 2 million ounces of the metal, totaling 743 million ounces of gold in reserves, resources and past production as of the end of 2011, said the Metals Economics Group in a research report.

“Assuming a 75% resource-conversion rate and a 90% recovery rate during production, these 99 discoveries could potentially replace only 56% of the estimated gold mined during the same period, if they are economical to mine,” they said in their report,

“Strategies for Gold Reserves Replacement: The Costs of Finding and Acquiring Gold.”
The challenge for producers is “not that there is no gold left, but that all the ‘easy’ gold has been found,” they said.

The total amount of gold in reserves and resources at development-stage projects on a global scale roughly matches current mine production. “However, with increasing risk of political, regulatory, and tax instability in many resource-rich nations, declining grades, rising costs, and dramatically longer development times, the amount of gold available for production in the near term is likely far less than has been found,” they said.

By bluejay
07/03/2012 9:42AM

Gold $1621.90 UP $25.00
Silver $28.30 UP $ 0.78

For the past few months gold has been etching out a possible short term bottom in the $1530 to $1540 zone. With a last of $1621.90 the metal has vaulted past its 50 day moving average line on the chart at $1601.66, this is all positive. The best case scenario for a possible short term directional change higher would be for gold to stay above the $1600 mark.

http://stockcharts.com/h-sc/ui?s=%24GOLD

By bluejay
06/15/2012 9:49AM

Gold - broaden your horizon.

http://www.martinarmstrong.org/files/Why%20You%20Should%20Buy%20Gold/index.htm

By bluejay
06/13/2012 7:49AM

Gold $1621.80 UP $12.00
Silver $29.07 UP $ 0.10

It appears gold has done some important chart work in the $1530 ro $1540 area and it may be enough to halt this intermediate downtrend.

We'll see.

By bluejay
06/01/2012 10:28AM

Gold $1621.10 UP $60.90
Silver $28.55 UP $ 0.84

Better late than never!

By bluejay
05/29/2012 9:32AM

The link right below is to a daily graph clearly showing how the miscreants take gold down hard and fast to scare the pants off of you.

http://www.kitco.com/charts/livegold.html

It's amazing but true, as the Euro gets taken down inversely the dollar strengthens and conversely gold is pressured but always with help from the anti-gold camp. Sadly for gold holders, the dollar does look higher on this current move.

Just another buying opportunity.

By bluejay
05/27/2012 5:33PM

Late Sunday market in Asia

Gold $1577.40 UP $3.70
Silver $28.69 UP $0.16

An independent source speaks of gold's possibilities:

http://www.martinarmstrong.org/files/Gold%20Outlook/index.htm

By bluejay
05/25/2012 9:26AM

An excerpt from an email sent into Mineweb - author unknown

Since then there has been much speculation that China could be building up its reserves at a rate of four or five hundred tonnes a year or more given the level of domestic gold production and the big surge in imports seen. Although China is the world's sixth largest holder of gold, the metal only represents a tiny 1.8% of its reserves and there have been a number of presumably government approved (is there anything else in China?) statements by officials that do suggest the nation is carefully buying on dips in the gold price so as not to create disruption in a relatively orderly global gold market.

By bluejay
05/20/2012 8:10AM

Gold $1592.10 UP $17.80
Silver $28.72 UP $ 0.67

Gold rebounded smartly early Thursday following the Fed's assessment more easing may be necessasry while closing strong on Friday.

In the background is the mounting JP Morgan expanding derivative losses, now approaching $5 billion up from original estimates of $2 billion, along with, apparently, a collapsing banking system in Spain which could effect banks worldwide if depositors continue withdrawing their funds.

Recent comments below are from David Nichols in a recently published article "Manipulated Markets Can't See The Future" that appeared at the kitco.com website:

"My theory is essentially every financial market is currently not experiencing proper price discovery, due to massive manipulation by central banks. This is especially true for bond markets and currencies, and by extension, gold. After all, what is quantitative easing other than the Fed intervening in the bond market to buy bonds? And they are an unnatural buyer. They don’t buy to capture profits or hedge existing positions, as market participants are supposed to, and they aren’t using currency backed by labor and savings – they are, quite literally, using “monopoly money” of their own creation.

My theory is essentially every financial market is currently not experiencing proper price discovery, due to massive manipulation by central banks. This is especially true for bond markets and currencies, and by extension, gold. After all, what is quantitative easing other than the Fed intervening in the bond market to buy bonds? And they are an unnatural buyer. They don’t buy to capture profits or hedge existing positions, as market participants are supposed to, and they aren’t using currency backed by labor and savings – they are, quite literally, using “monopoly money” of their own creation."

By bluejay
05/16/2012 7:07PM

Here is the article by Armstrong that speaks of gold's current trend:

http://armstrongeconomics.com/693-2/2012-2/mirror-mirror/

By bluejay
05/16/2012 2:30PM

Gold $1539.30 OFF $5.00
Silver $27.19 OFF $0.53

The person that has called the gold market correctly, all along, has been Martin Armstrong. In past entries many professional opinions have been submitted but none with the lasting correctness of Mr. Armstrong.

It would appear to be good advice for readers to keep reading Mr. Armstrong at http://www.armstrongeconomics.com.

Mr Armstrong's current thoughts are based upon weekly closes in the metal. He see the weekly close below 1599 as a strong indication that gold will next test 1522. If 1522 gives way. the next stop is 1310.50

For the short term if this month and June remain weak there is a chance of a rally in July. If we don't get the July rally then the August/September time period look to produce a good rally.

Aside from the above, gold remains in a bull market with the current protracted weakness still in force. It seems Jim Sinclair was right when he stated the swings would be wider for the metal going forward. I cancelled an order to buy gold coins at 1588 and I am in no hurry now to get more. The lower gold goes, the more I will be able to buy later.

By bluejay
05/15/2012 7:36PM

Gold $1543.40 OFF $13.10
Silver $27.66 OFF $ 0.52

Gold and silver are weak when they should be strong for two big reasons: Greece is on its way to pulling out of the Euro and sticking it to the banks who most likely got them into their financial mess and the derivative implosion at JP Morgan. When Morgan states they may have a $2 billion loss you better believe it runs deeper and most likely extends to a broad amount of institutions.

So what do our leaders do to keep the public calm? Act like all this is positive by dumping more and more paper gold. One wonders what the Chicago Mercantile Exchange's books look like at their Comex devision with all this suspected paper dumping of so-called gold.

The whole illegal affair is a paper game of betting, minus the physical metal at commodity exchanges. The New York gold market today is no different than the "bucket shops" of past where betting was being done on which direction a security would go next minus the certificates. If enough bets were down, these too effected the physical shares. What a racket.

This manufactured drop effects honest people in a big way: shareholders, holders of physical coins and jewely plus the coin dealers inventory which they must sell at lower and lower prices to buyers. In order to hedge their inventory, dealers are forced to sell short the metal probably at the Comex adding more pressure to gold.

The banks, the bullion banks and the hedge funds are all suspected of dumping paper gold in mass with the blessings of the boss. The sad matter of fact is that China is buying elsewhere everyday and we are the laughing stock. In the end when physical should be delivered at the Comex, the US public will get stuck with the bill again as these entities will be bailed out by our representatives acting in our best interests but no physical will change hands.

This is a new trick of the metal exchanges: you don't have to deliver physical but must make up the loss plus an additional subjective premium to the buyer to be determined by the exchange later. Feel like a hostage, I do.

These people are temporarily, because they'll ever really win, ruining the investments in the mean time in our sector and in the process, we get doubled billed by the operators of rigged casino.

By bluejay
05/10/2012 6:58AM

Gold $1598.20 UP $8.80
Silver $29.38 UP $0.11

Comments below are Stephen Leeb's from an interview yesterday at King World News:

“You are going to have a lot of currency devaluation. You are also going to see massive inflation. Everybody knows what that means for gold.

So you are in the last hours of turbulence for the gold market (to the downside). Once this correction ends, you are going to have a barnburner to the upside. Gold will just vault. I don’t think investors will even remember these frustrating days. I had been warning we could see this drop in gold because of the problems in Europe, but investors should take advantage of it.

Look at what China is doing. China is buying gold hand over fist right now. They are going to move the yuan forward as the world’s reserve currency and it’s going to be partially backed by gold. The world can also expect to see a gold standard imposed on Europe in the next 12 to 18 months.

The junior gold stocks, the ones with honest to goodness reserves which have not been developed, they will see one of the greatest, if not the greatest bull market of all-time.

But many of the big stocks have become like dinosaurs. Stocks like Newmont and Barrick don’t have enough gold in the ground. So what’s bad for Newmont and Barrick, is incredibly good for gold. We are sitting on the cusp of what may be the greatest bull market we’ve ever seen in our lifetimes.”

By bluejay
05/08/2012 2:51PM

Just in case you missed this one:

Up to 13 states Now Seek to Coin Gold & Silver as Currency

By Blake Ellis

Worried that the Federal Reserve and the U.S. dollar are on the brink of collapse, more than a dozen states have proposed using their own alternative currencies of silver and gold.

NEW YORK (CNNMoney) -- A growing number of states are seeking shiny new currencies made of silver and gold.

Worried that the Federal Reserve and the U.S. dollar are on the brink of collapse, lawmakers from 13 states, including Minnesota, Tennessee, Iowa, South Carolina and Georgia, are seeking approval from their state governments to either issue their own alternative currency or explore it as an option. Just three years ago, only three states had similar proposals in place.

"In the event of hyperinflation, depression, or other economic calamity related to the breakdown of the Federal Reserve System ... the State's governmental finances and private economy will be thrown into chaos," said North Carolina Republican Representative Glen Bradley in a currency bill he introduced last year.

Unlike individual communities, which are allowed to create their own currency -- as long as it is easily distinguishable from U.S. dollars -- the Constitution bans states from printing their own paper money or issuing their own currency. But it allows the states to make "gold and silver Coin a Tender in Payment of Debts."

To the state legislators who are proposing state-issued currencies, that means gold and silver are fair game, said Edwin Vieira, an alternative currency proponent and attorney specializing in Constitutional law. And since gold has grown exponentially more valuable, while the U.S. dollar continues to lose ground, the notion has become increasingly appealing to state lawmakers, he said.

The state gold rush: Utah became the first state to introduce its own alternative currency when Governor Gary Herbert signed a bill into law last March that recognized gold and silver coins issued by the U.S. Mint as an acceptable form of payment. Under the law, the coins -- which include American Gold and Silver Eagles -- are treated the same as U.S. dollars for tax purposes, eliminating capital gains taxes.

Since the face value of some U.S.-minted gold and silver coins -- like the one-ounce, $50 American Gold Eagle coin -- is so much less than the metal value (one ounce of gold is now worth more than $1,700), the new law allows the coins to be exchanged at their market value, based on weight and fineness.

Local currencies: In the U.S., we don't trust
"A Utah citizen, for example, could contract with another to sell his car for 10 one-ounce gold coins (approximately $17,000), or an independent contractor could arrange to be compensated in gold coins," said Rich Danker, a project director at the American Principles Project, a conservative public policy group in Washington, D.C.

South Carolina Republican Representative Mike Pitts proposed a currency system that would allow people to use any kind of silver or gold coin -- whether it's a Philippine Peso or a South African Krugerrand -- based on weight and fineness. Pitts said in the bill, which currently has 12 co-sponsors, that the state is facing "an economic crisis of severe magnitude."

Republican representatives from Washington State followed suit in January, introducing a bill that would also allow any gold and silver coins to be considered legal tender based on metal values. Minnesota, Iowa, Georgia, Idaho and Indiana are also considering similar proposals.
Many of the bills would make it possible for residents to exchange the physical coins for goods and services, so you could use coins to buy anything from groceries to a car as long as the store chooses to accept them.

However, most people aren't going to walk around with such valuable coins in their pockets, said Vieira. Plus, calculating the value of the coins -- especially if they come from different parts of the globe and are of different sizes and shapes -- will get tricky.

It's more likely that the states will create electronic depositories and accounts for the coins to make transactions easier, when and if the initial bills are passed, he said.

Utah Gold & Silver Depository is already developing a system where customers could use debit cards linked to their gold holdings. When customers swipe their debit cards to make transactions, physical gold and silver coins would be transferred between accounts in privately-owned depositories (or vaults) based on the market value of the metals.

Before deciding on a specific form of currency, some states -- including Minnesota, Tennessee, Virginia and North Carolina -- are considering proposals that would first require a committee to review their alternative currency plan.

The future of U.S. currency: The states' proposals have been gaining steam among Tea Partyers and Republicans, many of whom also endorse a nationwide return to the gold standard, which would require the U.S. dollar to be backed by gold reserves.

Tea Party "father" Ron Paul is sponsoring the "Free Competition in Currency Act," which would allow states to introduce their own currencies, and rival Newt Gingrich is calling for a commission to look at how the country can get back to the gold standard.

But it will be the individual states that could really get the ball rolling, said Vieira. Even if several of the current proposals get killed, the introduction of so many bills at the state level is drawing national attention to the issue, he said.

Funny money: 11 local currencies
Of all the state proposals circulating right now, Republican-controlled states including South Carolina, Georgia, Idaho and Indiana have the best chance of passing their proposed bills this year, said American Principles Project's Danker. If just one or two states implement an alternative currency, it could have a Domino effect, he said.

"I think we could get a couple passed in this legislative session, and that would show this is mainstream, popular and it would be a justification for more of the risk-averse states for doing this," he said.

By bluejay
05/04/2012 9:00PM

You won't be reading the following in any newspaper or having the content being reported on your TV.

Jim Sinclair’s Commentary

Just a reminder.

Dear Friends,

The European Stabilization Mechanism Treaty due to pass in July this year will take care of whatever money is required by Spain or any other Euroland nations for effective bailout. It starts with $700 billion in capitalization and has an open call for additional capital infusion with no limit placed on these calls and no further agreements required.

New additional capitalization called on by this treaty is mandatory, not elective and therefore will go to infinity.

The member nations have 7 days to pay up when ordered to by the management of the EMS who are protected against any form of attack or litigation to legislation. It will be backed by the US Fed via swaps while the US publicly denies it is adding any capital to the IMF or this new entity, ESM.

It is the mechanism for QE to infinity in Europe.

QE to infinity, properly understood, is debt monetization on steroids. Denials will be legion, but this debt monetization on steroids will not and cannot be avoided.

The advent of the ESM Treaty establishing the European Stabilization Mechanism is economically Earth shaking and recognized by almost no one out there. It cannot be otherwise, it cannot be avoided. It can de denied but it will occur.

Respectfully,
Jim

By bluejay
05/03/2012 9:34PM

Swiss refiners can't keep up with gold demand

posted on May 03, 12 11:51PM

Egon von Greyerz continues:

“At the same time, we are reading that a number of central banks are buying gold. So the nonsense coming from the mainstream media that people are not interested in gold is completely false. We are seeing massive accumulation of physical gold. This decline today is clearly only in the paper market."

"Once people wake up to the fact that the paper market is not even a real market, meaning it’s a false market that can never deliver the real goods, once investors realize this, that is when people will really panic"....

The full interview from King World News:

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/5/3_Greyerz_-_Swiss_Refiners_Say_Demand_for_Gold_is_Massive.html

By bluejay
05/03/2012 4:27PM

Gold $1635.60 DOWN $18.10
Silver $30.07 DOWN $ 0.58

It just seems the constant stacking of the cards against the public holders of gold with more and more price suppression at the Comex Casino will never end. The only thing that can be stated is that it will always the darkest prior to the new day.

When the metal finally raises its horns again it will become chrystal clear that the current days of the paper charades will be over for a while. The fact remains the western central bankers will defend their fiat currency, so-called money, with no expense limiting them even though their taxpayers in the end will be forced to accept all and every sale that was NEVER backed by physical gold. Iq believe everyone with a rational mind accepts this, sadly but true.

The miscreant's attacks are planned and well orchestrated. In the last big attack these boys took the metal below $750 in 08' from just over $1000. Even though they are back to their old tricks again for the past year they constantly have to keep selling gold at higher and higher prices. This is the reason that wider and wider price swings are in order for the months and years ahead but the percentage moves should be about the same.

A few hours ago at today's lower price of $1636.60 more gold was acquired and it won't be sold until years later.

By bluejay
05/01/2012 9:11AM

Gold $1662.20 DOWN $2.10
Silver $31.16 UP $0.15

An outstanding gold analyst, Alf Field, has stated that gold has bottomed following 12 months of declining prices. Within the big picture, western central bankers apparently have exhausted their resources, for the time being, for price suppression and the metal is ready to resume its upward march to new higher levels.

These central bankers and the people supporting their efforts behind the curtain will continue to fight gold as when gold moves higher their power influence over all of us is percieved by them as being reduced. One very important aspect of our financial well being is to keep a great distance away from their Monopoly money as best as we can.

It was back in 2008 that a great concerted effort was taken aligning all their forces to prevent gold from moving above the $1000 level. The thought of the metal bettering $1000 just petrified them for a while and then they went into action. Major US banks accommodated them with massive naked shorting of gold and silver in the first half of 2008 and other cohorts, a few major hedge funds, were to go into action a few months later selling shares they never owned with a vengeance.

Later in early July and for weeks later gold and silver were slammed along with the related shares, it was a real slaughter, gold went to $750 and later a little lower and the share's value were cut in half. All this is history now with the important facts remaining: they were successful in scaring folks only over the short term BUT long term, THEY FAILED and will continue to fail as long as they persist in creating more and more of their Monopoly money while they cling onto their power throne and herd the people into financial slavery at increasingly alarming rates.

The western central bankers are after our hides in the worst way. PROTECT YOURSELVES with gold and silver and the related companies.

By bluejay
04/29/2012 11:50AM

Recent comments from the accomplished Stephen Leeb:

"When asked about gold, Leeb responded, “Gold may get hit if Europe does fall. There might be selling of gold for liquidity. If gold does get hit, it will be one of the greatest buying opportunities people will see in their lifetimes, but it may not happen. My point is if you are fully invested in gold, stay there. In a few years you will find you are very wealthy. If you are 50% invested, buy the dip if one materializes.

China is buying gold because they know what is happening. This is a recipe for the Chinese yuan becoming the new reserve currency because they are accumulating a lot of gold that will probably be used to back the yuan.

What is that going to mean for the dollar and inflation in the West? It’s going to go to levels that we’ve never seen before. This is a when, not if event. And the when is, when is gold and silver going to soar to the sky?

I don’t even have a target for gold anymore. Investors need to be careful with anything that is denominated in dollars and paper. You have to be in hard assets in order to survive this cycle.”

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