October 17, 2021 

Gold Enters Major Bull Market


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 By bluejay

05/16/2012  7:07PM

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

 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.

 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:

 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.”
 By bluejay

04/29/2012  11:11AM

I heard something interesting yesterday from a major coin dealer in Phoenix: The public has been doing a lot of small lot selling of gold and silver coins while the sales have been offset by fewer, larger buyers.

This is what usually takes place from my experience during the bottoming process. Gold has been in a corrective consolidation pattern for the past 12 months.

The MACD converging short term chart moving average lines have gone flat, thus indicating that the selling pressure on gold has been neutralized.

Although the 50 and 200 day average lines are above gold's last sale, I suspect gold has been manipulated lower to reflect a short term negative environment. Aside from this ambiguously painted picture, gold appears in the early stages of rearing its head up again.

The key to ultimate success in preserving your wealth is with on-going purchasing of gold and silver coins ahead of these new anticipated updrafts during the current bull market.

Still, keep some funds available for any "behind the curtain" sponsored shake-downs as they have a tendency to crop up.
 By bluejay

04/26/2012  4:10PM

An excerpt from an article published yesterday by Jim Willie:

The USDollar appears to be topped out. As it falls, the global cost structure will be lifted again. Most commodities are priced on a US$ basis. Big challenges are in force against the global reserve currency. Aggravating the effect is the chronic high oil price.

The Iran effect is felt, not going away, only to grow worse as the backfire backlash develops into new platform systems. See the Hat Trick Letter in the April edition for much greater details on all these critical matters as history is being made. Sadly, the history is the final chapter of the USDollar and its written epitaph.

Americans appear to be the least informed on current events and risk levels. Many will see their life savings, their pension plans, and other valued assets suffer great loss since they have not put in place protection from the imploding beleaguered USDollar. The lost value of their homes is but the beginning of their great loss.

That warning has not been heeded effectively by the majority of the masses, who qualify as sheep. Steps are difficult to make, but they must be made. Gold & Silver offer the best such protection in the form of bars and coins, kept outside the US and UK, the axis of fascism.
 By bluejay

04/25/2012  6:54PM


Thanks for the excellent information.

Gold $1644.30 UP $2.80
Silver $30.63 DOWN $0.20

Excellent interview concerning gold and other financial topics. Sorry for the extensive link to the story.


04/25/2012  6:05AM

New IMF figures show at current rate central banks will buy almost 700 tonnes of gold this year

Gold slipping over 3% over the course of March, averaging $1,676 for the month, prompted central banks to stock up on the yellow metal IMF data showed on Tuesday.

Led by Mexico and Russia, central banks from 11 countries and the Eurozone added a combined 57.9 tonnes of gold in March.
 By bluejay

04/23/2012  9:29AM

Gold $1631.70 OFF $10.70
Silver $30.75 OFF $ 0.95

Gold continues to be pressured lower, down nearly $300 from its recent all-time highs above $1900.

Gold is being dragged down by folks who fear it, causing unrest with those who own it. The whole affair is a game of numbers. Gold is gold and will always be gold, a store of wealth.

The miscreant pressure on the metal may very well be the last bold attempt to suppress it before reality sets in. The big lingering question is, at what price and when in time will this all end?

During bull market contractions the name of the game is scale-down buying. Forget the news being fed to you and the concern of lower price, just close your eyes and buy into this resting period. It will just be a matter of time until the bull raises his head again.

 By bluejay

04/20/2012  10:29AM

US Gold Production Slips 7% In January - USGS

19 April 2012, 12:46 p.m.
By Kitco News

U.S. mines produced 20,200 kilograms of gold in January, a 7% drop versus revised December output, said the U.S. Geological Service on Thursday.

December output was revised to 21,700 kilograms, down from the previous estimate of 22,000.

The average daily gold output for U.S. mines was 650 kilograms in January, down from 700 kilograms per day in December and the average daily output of 652 kilograms for all of 2011. December daily production was revised down from the previous estimate of 711 kilograms and the average daily output of 656 kilograms was revised lower.

Total yearly output was revised to 238,000 kilograms, from 239,000 kilograms estimated last month.

04/19/2012  11:48AM

Bluejay, thanks for the Armstrong link! My thought in posting this was the possibility of the Sixteen to obtain foreign investment, especially from the Japanese. I lived in Hawaii for 10 years, and still own property there. Because the Japanese love to visit Hawaii they are Very Heavy investors in HI real estate, especially in Top Tier hotels/resorts. Now that those are all bought and there is little new construction planned, this might be the time to attract Japanese investment into gold and specifically into the Sixteen-to-One.
 By bluejay

04/18/2012  11:21PM


Martin Armstrong is probably the expert on following and predicting international capital flows. I'm sure you can go to http://www.martin Armstrong.org and locate a report where he speaks in detail concerning this.

In past years, I gained a currency advantage that you speak of when I was involved with Canadian mining companies during which time the Canadian dollar advanced against our currency. I just can't get into buying gold in foreign currencies because I prefer to keep part of our wealth in the physical.

Yes, you hit the nail on the head by commenting on maximizing possible profits in gold or holding losses to a minimum in being in the correct currency.

04/18/2012  8:05AM

BlueJay, here's an interesting report that PROVES my earlier post about the potential advantage of buying and selling gold in foreign currencies. The same argument holds true for foreign countries investments in gold mining companies. Perhaps the Sixteen should consider contacting foreign companies/investors, particularly in Japan, and Euro Countries for a possible private placement. I know this is more difficult than obtaining US investment, but it is also more lucrative. Let me know what you think.

The key themes for gold during Q1 2012 were:
•Rising price in all major currencies with yen investors
benefiting most: Gold prices climbed 8.6% QoQ in US$/oz on the London PM fix, despite a number of headwinds. Though the quarterly return was almost twice the ten-year average of 4.5%, similar gains in gold were seen across all major currencies with yen investors seeing a gain of 16.1% in local currency terms.
 By bluejay

04/14/2012  1:51PM

Jim Sinclair comments in a recent King World News interview:

On the heels of the Fed members commenting publicly, legendary trader and investor, Jim Sinclair, told King World News that even though we have already seen $17 trillion of money printing, we should expect another $17 trillion going forward. KWN also asked Sinclair how he knew, from the beginning, that there would be ‘QE to infinity,’ before anyone else. But first, here is what Sinclair had to say about the action in gold: “$1,650 is a comfortable number (for central planners). Haven’t you seen the tremendous jawboning and market intervention to hold gold in that range at $1,650? $1,764 and they lose control. That begins the move which is exponential.”

Jim Sinclair continues:

“It’s a formidable challenge (keeping gold below $1,800). The true range of gold is $1,700 to $2,111, but these guys are going to try to fight it like nobody’s business. Do you think for a moment they are not listening to you and I speaking right now? Forget it, Eric, we are the morning ‘Squawk Box’ tomorrow.

Now comes the payback. The hope and desire that things would improve is ignorant because of the fact that the trillions which have come in have been to save the financial organizations, not Main Street....

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