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



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Topic:
Gold Enters Major Bull Market

By bluejay
03/29/2011 1:27PM

Gold $1417.50 DOWN $3.40
Silver $37.08 DOWN $0.08

Gold continues backing and filling as it digests its recent strength into December.
This action should continue into June as Martin Armstrong foresees renewed advancing prices to new all-time highs.

Silver has been much stronger than gold and continues so giving up very little ground. Just bought some more one ounce silver Libertads in Cabo yesterday.

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

The months of April and May should be neutral to lower for the metals which will furnish an opportunity to scale down purchases from recent highs in preparation for the start-up move in both to begin in the first half of June.

Time for some more fish tacos and a Pacifico.

By bluejay
03/11/2011 5:36PM

Mr. Jim Sinclair today called it the way he sees it in an extremely informative interview concerning gold with Eric King from King World News:

http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2011/3/11_Jim_Sinclair.html

By bluejay
03/06/2011 8:03PM

Gold $1436.90 UP $4.10

Silver $36.26 UP $0.59

Silver continues to amaze with $50 to $60 being called for by James Turk for the end of the year. Is it that easy? It maybe just that simple because Mr. Turk have been proven right more time than not.

By bluejay
03/06/2011 7:57PM

Recent quote by the professor, Richaed Russell:

When investment "geniuses" like Warren Buffet displays his ignorance by denouncing gold, it adds little to his legacy. Warren's dad, Howard supported the gold standard). Warren Buffett's problem is that he only understands balance sheets and earnings. The value of a Picasso or a gem diamond or a bar of gold is outside Buffett's understanding. Which is sad, because Buffett's lack of understanding has kept many an American on the sidelines while gold surged higher in terms of Buffett's beloved paper currencies.

By bluejay
03/01/2011 7:52AM

Gold $1423.10 UP $11.90
Silver $34.37 UP $ 0.39

From the Canadian Agoracom.com website:

Tricks of the Trade
posted on Mar 01, 11 10:24AM

A page out of the Propaganda Handbook...

Regards - VHF

-

Suppressing Gold and Silver Prices by Using Statistics To Lie

Patrick Heller

February 28, 2011

Readers of this column probably already realize that there are many tactics that the US government and its trading partners and allies can use to suppress precious metals prices.

You can make it appear that supplies are larger than they really are by mobilizing physical reserves without explaining the true source of the supply. You can sell naked short contracts on the commodity exchanges while trying to maintain the illusion that there really is physical metal to cover the contract. You can put fear into the minds of the management of mining companies so that they decide to pre-sell future production to avoid price drops.

On the inventory side, you can do as the International Monetary Fund (IMF) did and require that central bank leased gold had to be reported as physically being in the vaults and part of the reserves of both the lessor and the lessee. Only in the past few years has the IMF given central banks the “option” to accurately report the gold reserves in their vaults that is not under contract to be returned at the end of a lease. You also have exchange traded funds state right in the fine print of their prospectuses that they may own some forms of physical that do not meet the purity or weight requirements of commodity exchanges.

As for the demand part of the equation, you can delay reporting additions to central bank gold reserves, as China did for six years. You can also underreport gold reserves. It’s hard to blame China for purchasing gold on the sly—it kept other parties from realizing how strong demand was and held down prices while that central bank continued to buy more gold.

In addition, there are a variety of tactics that can influence prices without affecting supply, demand, or inventories. Rules and regulations can be changed. Commodity exchanges can increase their margin requirements, even when prices are declining.

The Commodity Futures Trading Commission has proposed regulations (now in their public comment period) that appear to crack down on the manipulation of the COMEX gold and silver markets. However, the reality of the proposed regulations shows that they will have almost the opposite effect. For instance, naked short positions acquired before these new regulations take effect will never be subject to regulation. The regulations are also skewed to limit the purchase of commodity contracts, but have virtually no limitations on the short selling of gold or silver on the COMEX.

One major tactic is for the US government to report statistics that may be accurate as reported, but which are heavily massaged to report data that lulls the public into thinking that the economy is in better condition than it really is. Let’s consider some recent examples.

Last week, the US Commerce Department reported that January durable good orders had increased by 2.7% over December figures. In this instance, the government elected to report the entire statistic. If you exclude orders in the transportation sector, which was skewed by Boeing’s report of a huge 4,900% increase in aircraft sales, however, durable good orders in January declined by 3.6%. As it happens, a high percentage of Boeing’s sales were to the US government for military purposes. Buried later in the report was information that durable goods orders excluding all military purchases, fell by 6.9% in January. This was the largest such decline in more than two years. Durable good orders excluding military purchase is often taken as a proxy to reflect private sector demand.

The headlines picked up the 2.7% increase to report to the public and either ignored or buried the huge 6.9% decline in non-defense orders. Thus, the general public would have the impression that the economy is stronger than it really is.

Last week, the Commerce Department also reported that the sales of new homes in January were at a “seasonally adjusted” rate of 284,000 units. While that statistic was a 12.6% drop from the previous month and down 18% from January 2010, it hid a more worrisome fact. The actual number of new homes sold in January was 19,000. This was the lowest sales of new homes since the Census Bureau started to track this statistic.

When the US Labor Department issued its weekly report on new unemployment claims last week, the focus of the media reports was how it was about 40% lower than the data for two years ago. However, buried in the fine print of the report was a statement that 9.2 million people are still receiving federal or state jobless benefits. Generally, the US government considers people to be unemployed only so long as they continue to receive government benefits. Once the unemployment benefits run out, whether the person has a job or not, people are no longer considered unemployed. By using a statistical trick to drop hundreds of thousands of unemployed people from the ranks of the unemployed, the US government has been able to claim that the unemployment rate is dropping. Little attention is paid to the statistic that the number of employed people as a percentage of the population has been declining.

The government isn’t alone in lying with statistics. The National Association of Realtors recently announced that they had been overstating the number of home sales every month for the past three years or so, perhaps on the order of 15-20%. By misreporting the relative activity in the real estate market, it is just about guaranteed that many who have purchased homes over the past three years have overpaid. If the public had been aware of accurate statistics, home prices would have come down more sharply than has happened.

In sum, when the general public looks at the headlines, they will invariably think that the US economy is in better shape that the fine details in the report reveal. This is exactly what the US government wants to occur. A complacent public will not scramble to get out of the US dollar, pushing up demand and prices for gold and silver as safe havens.

For your own protection, take a skeptical attitude to any reported statistical headlines. Dig down to read the entire report. Further, do a long-term comparison to place the latest report into proper perspective. Don’t expect the US government or the mainstream media to do this job for you. I am confident that when you do your own homework, you will be even more convinced to own gold and silver for insurance against further calamities that may befall the US government, the US dollar, and the US economy.

By bluejay
02/27/2011 9:13PM

Gold $1412.80
Silver $33.48

Metal's Round Up from King World News:

http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2011/2/26_KWN_Weekly_Metals_Wrap.html

Hope you're feeling better Mike

By bluejay
02/26/2011 2:35PM

Excerpt from today's International Forecaster written by Mr. Bob Chapman:

The major media is as complacent as ever because they are totally controlled. It is not ignorance or incompetence. It is control. The media tells us the stock market is headed higher, but fails to tell us why. The reason is manipulation by the US government, and those who control it, and funds swamping the market via QE2. This is an economy where few jobs are being created, unemployment remains steady and we are told that a rising stock market means recovery, which is far from the truth. Propaganda flourishes as well as physiological warfare. There is no truth for the American people and the people of the world, it is all controlled and capsulated for consumption and control. There is no real recovery; it is all smoke and mirrors to mislead the public.

Government and the media declare there is no inflation, but yet it abounds. This is the same media that has ignored the climb in gold and silver prices for 11 years. They have few explanations as to why gold and silver prices are rising. It is because the value of fiat currencies are falling versus gold and silver, but that is not the explanation we hear. We are told a number of absurd falsities.

Gold and silver are just now beginning to break out of government instigated doldrums, which has been government induced by those who own the Fed. None of the old tricks and nostrums is working anymore, so new tactics are being taken. You have seen ongoing attacks on gold and silver that has been going on since 1988, and in the last 15 years they have been relentless. As of late the theme is destroy the gold and silver shares to make people believe that there is little value there, to shake novices out of their positions. The psywarfare plan is to force down gold and silver share prices and gold in order to destroy silver prices so that JPM and HSBC can cover their shorts. It hasn’t worked and won’t work.

Needless to say, we get the usual from CNBC, CNN, MSNBC and Fox. Is it a bubble or a craze? Again, what else would you expect from a media which is usually wrong.

By bluejay
02/21/2011 7:19PM

Gold $1404.70
Silver $33.87

Gold and silver are continuing to drive higher aided by disturbances in many Middle East countries.

The following link is to an Eric King interview at King World News from last Saturday where he speaks with two top analysts: one in coins and the other in the gold and silver.

http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2011/2/19_KWN_Weekly_Metals_Wrap.html

By bluejay
02/18/2011 11:43AM

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

By bluejay
02/18/2011 10:32AM

Gold $1390.50 UP $5.90
Silver $32.80 UP $1.02

The 50 day average on gold at $1373 has been bettered. Depending on Martin Armstrong's bearish projection for the metal over the short term(the next four months or so) combined with continuing public protests in the Mideast, has caused a misjudgment in gold's short term forecast within this continuing on-going bull market. Personally, I took some funds out of the shares but would never reduce gold and silver bullion positions.

It's just been part of the game to expect government intervention with scary sell-offs. It looked like the miscreants were readying a forced sell-off when prices remained under the 50 day average but the only thing that really happened, with gold moving higher, was that their ability to control prices lower during the current reactive phase was much weaker than originally suspected.

In order for gold to make another push higher to all-time highs on this move, prices will have to remain above, generally, the 1373 area in the weeks ahead. There is the possibility that the government can still come up with some new smoke and mirror tricks to pressure gold lower, but the longer gold stays above the key 1273 level the better it will be for us.

Silver made a new 30 year high this morning just shy of $33. Its last reactive low was just north of of the $26 level some weeks ago. This market is very strong with possible reactions being opportunities to add to existing winning positions.

By bluejay
02/13/2011 3:29PM

From agoracom.com/ECU website

This is a new one on me:

Submitted by Tyler Durden on 02/10/2011 11:36 -0500

Perhaps the most stunning example of what may be in store for asset managers and pension funds (and possibly retail holders) who dare to challenge central bank monetary authority comes from the Netherlands, where we have just witnessed the 21st century equivalent of Executive Order 6102. The story in a nutshell (and as translated loosely from the primary source presented below): the glassworkers pension fund (SPVG) was ordered by De Nederlandsche Bank (DNB, or the equivalent of the Dutch central bank), that it has to sell the bulk of its gold assets. After the SPVG refused to comply with the order, the DNB went to court and the decision has come out, siding with the central bank, ordering the SPVG to sell the required gold within two months. The pension fund, which invests for 1142 employees, in late 2009 had gold bars worth 34.6 million euros, or about 1400 kilograms. The total fund assets amounted to 288 million euros at that time. The DNB argued gold is a commodity and holding 13 percent was overweight in comparison to the 2.7% average that pension funds are invested in commodities. DNB has found that such a large proportion of gold is inconsistent with the interests of the participants. SPVG sees gold as a medium of exchange, such as euros, but DNB believes that the price of gold fluctuates too much for it to be classified as an investment. Translation of the translation: the central bank has now directly ordered a fund how to allocate its gold assets, because it explicitly disagreed with the fund's statement that gold is money, claiming instead that it is nothing but a very volatile commodity. Very soon no pension funds in the Netherlands will be allowed to hold any amount of gold more than the merely nominal. This latest gold confiscation equivalent event is most certainly coming to a banana republic near you.

By bluejay
02/13/2011 10:29AM

Gold $1356.80 OFF $6.70
Silver $29.91 OFF $0.30

It was back in October of 2008 when gold hit a low point of about $670 an ounce. Prior to this event, gold had been struggling for a number of months to better the 1000 mark.

Today, following almost a 100% advance from that $670 low to a high of about $1430 in early December of last year, signs are coming into view that the metal over-did itself this run and may need some more continuing convalescence. This, more than likely, will be accomplished by price retracement.

For almost six weeks now, gold's price has been below the 50 day moving average line at $1372.74. For the past 11 trading days, from about a $1310 low, the metal has rallied but in the past four sessions refuses to attack the $1372.24 area. This could be one sign that the internal health in this market is more suspect than most followers would be willing to admit.

Martin Armstrong a few months back mentioned that gold's normal interpreted cycle was expected to make a high in 2011. Well, it looks like it did but, a bit earlier in December. In checking further for Armstrong's current analysis on gold, I located one of his recent articles where gold was mentioned with a supplied chart showing long term monthly price channels. Here it is:

http://www.martinarmstrong.org/files/An%20Islamic%20Revolution%20Is%20It%20on%20Time%2001-30-2011.pdf

Everyone should, especially, read Armstrong's section on gold. Mr. Armstrong is a pretty smart guy and apparently is giving us another sign that gold could be entering a period of rest accompanied by weakness.

The bottom line here is, we should be mentally preparing ourselves for price erosion, not to be frightened by it but to use it to our advantage. Remember, no one really knows for sure what will happen to gold's price over the immediate months ahead. It just might be best to go with the probabilities based upon the thoughts of experienced followers.

Gold remains in a long term bull market where methodical scale-down buying continues to be the "real winner."

Armstrong did indicate that the best days for gold are ahead of us, going into 2015. After we're finished with this current price detour, we're on our way to $5,000 gold, according to earlier price projections by Armstrong.

By bluejay
02/08/2011 12:52PM

Gold $1363.80 UP $11.70
Silver $30.30 UP $ 0.86

The fireworks in the metals began when silver crosed its 50 day moving average at about $28.80. The manipulators tried to hold it there but were unsuccessful as the metal bolted free. In the process, gold traded higher.

Gold is currently acting lethargic following contact with its 100 day average in the 1362 to 1364 area. Gold has its work cut for itself as just higher is another minor trouble area at 1374, this time presenting expected resistance from its 50 day moving average line.

In time, both of these areas will be surmounted allowing the bull market to resume its upward march.

By bluejay
02/06/2011 1:50PM

Are you ready?

http://kingworldnews.com/kingworldnews/Broadcast/Entries/2011/2/5_James_Turk.html

By bluejay
02/03/2011 11:32AM

Gold $1350.60 UP $15.60
Silver $28.75 UP $ 0.40

Gold has moved above a chart neckline formation at $1340 which attracted buyers. Gold still has to better its 50 day average at $1375.15 to continue higher. Silver at $28.75 is right at its 50 day average which is obviously being defended by the bear element, mainly the two big shorts in the market, J.P. Morgan and HSBC.

In the meantime, Bob Chapman on his website is bringing up the issue of the gold plated tungsten bars that had changed hands between a London depository and China. The real question is, who authorized the creation of these fake 500 ounce bars? For more of a background on the counterfeit gold bars go to the link below:

http://bobchapman.blogspot.com/2011/02/bob-chapman-gold-plated-tungsten-bars.html

By bluejay
02/03/2011 9:13AM

Gold $1351.30 UP $16.30
Silver $28.69 UP $0.34

The following gold predictions make the price of gold today seem extremely under-priced:

These 6 Analysts See Gold Price Going Parabolic to +$10,000
•1. Mike Maloney: $15,000;
•2. Ben Davies: $10,000 – $15,000;
•3. Howard Katz: $14,000;
•4. Dr. Jeffrey Lewis: $7,000 – $14,000;
•5. Jim Rickards: $4,000 – $11,000;
•6. Roland Watson: $10,800

By bluejay
01/29/2011 5:46PM

The experts comment on gold and silver plus a growing market shortage of silver.

http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2011/1/29_KWN_Weekly_Metals_Wrap.html

By bluejay
01/27/2011 11:16AM

Gold $1319.20 DOWN $26.90
Silver $27.04 DOWN $ 0.57

Everyone must have fun, so you little miscreant devils enjoy your day. Gold had a little rally yesterday but was stopped cold as it approached its 100 day average line at 1350. It appears the current move has another 35 or 40 dollars left in it to the downside. A wonderful opportunity to buy more gold and silver on a scale-down basis versus tomorrow's reality prices.

The following linked story is a great article that spells everything out, again.

http://www.kitco.com/ind/Hamlin/jan242011.html

By bluejay
01/26/2011 10:55PM

Surprising comments from Jim Willie concerning gold and China from kitco.com today:

Whether Americans and Westerners in general like it or not, the Chinese have become and will remain the key drivers to many economic and financial market developments, progress, and averted wreckage. The intrepid lapdog US press, loyal to the syndicate, is a critical element to maintain distractions. Of course, China must adapt and react to their own stumbles and accidents, assured since for years they have maintained a tight link in monetary policy. Doing so has linked their asset bubble expansion and bust cycle to the deadly one in the United States, and filled their coffers with US$-denominated toxic debt securities. However, China has three advantages over the US that stand out. They have $2.65 trillion in savings, rainy day money in a war chest. They have a vast industrial base, courtesy of the US, the West, and Japan, which donated the technology for the fabled disastrous low-cost solution. They have an expanding middle class. Neither the US, the UK, nor Western Europe has anything remotely similar to these three benefit allowances. It is slowly becoming clear that the US granted the Most Favored Nation status to China in return for massive gold & silver swaps to the USGovt. The Wall Street fraud kings illicitly sold the leased bullion into the market, to sustain the American fiat paper congame, and thus a betrayal to the Chinese.

The Beijing leaders are highly motivated to unseat the Anglo bankers from their perched throne, emboldened by vengeance. The betrayal was to the American people also, since waves of jobs went to China from US shores, since the US sold not only its own Fort Knox gold inventory, but Western Europe's also, then China's to boot. Those who believe the USGovt has any gold reserves at all should donate their cerebrums to science while still alive, a euthanized suicide. The USGovt in all likelihood is in possession of less than zero gold, owing both Europe and China massive amounts. It is the American ticket to the Third World, paved by lost industry, locked by vast debt, assured by broken economic principles blessed by high priest heresy. The US banking leaders still believe the US can revive itself by the flood of more debt and stronger consumer spending, without a clue of what legitimate income means or where it comes from.

By bluejay
01/25/2011 10:11PM

I just received this section of an email from Mike Maloney's company tonight:

http://goldsilver.com/article/is-now-a-good-time-to-buy/?utm_medium=email&utm_campaign=1-25-11+-+GS+-+Weekly+Newsletter&utm_content=1-25-11+-+GS+-+Weekly+Newsletter+CID_b90a3b7934dd33dfa9224ec45c51da3d&utm_source=Webmail+Marketing

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