August 19, 2019 
 Monday 
 
 

Forum
Topic:
Gold Enters Major Bull Market

       

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 By bluejay

05/24/2010  11:09PM

Gold's last sale is $1190.80 being pushed higher from recent lows at the $1170 level by a declining Euro. The currency's last sale against the dollar is 122.86. Remaining below 125.00 leaves the door open for continuing erosion.

A new Martin Armstrong article is available. Mike and Rick will be interested in its content, as everyone should.

http://www.martinarmstrong.org/files/Immoral-Not-Illegal-a-Crisis-in-Ethics-Repeating-the-1930-s-5-20-10.pdf
 By Nose 4 Gold

05/20/2010  12:09PM

Food for thought. There are over 650 gold projects in the world with reserves of over 1 million ounces. If the world consumes 75 million ounces a year, present reserves with no new discoveries will last 56 years.
 By Nose 4 Gold

05/20/2010  12:08PM

Food for thought. There are over 650 gold projects in the world with reserves of over 1 million ounces. If the world consumes 75 million ounces a year, present reserves with no new discoveries will last 56 years.
 By bluejay

05/19/2010  3:39PM

Mike might really have a fit with all the print that's being put on lately but we are in historic times and the following from Trader Dan and Jum Sinclair from the jsmineset.com website is important:

Gold is becoming the currency of last resort and that it not going to change because a Central Bank floods a system with liquidity and makes money available. The effects of this compounded increase in the amount of money in the system are going to be felt in an inflationary outbreak down the road. You will be glad you own the metal then.

I personally think that the more the price riggers jack with the system and play games in the paper market, the higher the price is eventually going to go. The harder you press down on a spring to compress it, the more fiercely it uncoils.

Nearly any astute investor OUTSIDE this country now knows that the paper Gold market is being rigged by the US government and its pals at the bullion banks. They are using that to their advantage as the short sighted fools of the West cede any economic advantage to the rising powerhouses of the East. Whoever owns the gold will rule the world. It really is that simple.

There really is something about gold that people can understand who are watching their currencies implode. No amount of bullion bank chicanery and official sector theft is going to change that. Gold is real money and always will be in the minds of the public, even though a war against it has been waged for three decades in the West.

Best to you,
Trader Dan



Jim Sinclairís Commentary

I would like to add my voice to this quote from Trader Dan.

It will be the various Goldmans that will make the most money in gold after picking the traderís/scalperís pockets dry.

"I personally think that the more the price riggers jack with the system and play games in the paper market, the higher the price is eventually going to go. The harder you press down on a spring to compress it, the more fiercely it uncoils."
 By bluejay

05/19/2010  3:13PM

Last on gold is $1193.20.
Last on silver is $18.23.

Just ran into the linked story below concerning Democratic Representative Anthony Weiner from N.Y. pointing the finger at Goldline International a precious metals coin dealer that advertises on the Glenn Beck Show.

Weiner issued a report critical of the company for "grossly overcharging for coins and makes false claims about gold being a good investment. Amoung other comments that possibly could have merit, I take issue with the statement that publicly questions gold as a good investment.

Why doesn't Weiner do something more productive like an investigative report concerning the loan sharks that are allowed to gouge everyone with excessive interest charges on the Visa and Mastercard accounts at the banks when at the same time these scoundrels are allowed to borrow from the Fed for practically no interest expense?

Was Weiner sauced when he made this irresponsible comment or are people in Congress really super naive and ignorant or are they just a stumbling herd of hacks?

Of course, Beck stikes back with a strong right cross. I know some people who think Beck is really off the wall but he does do his part with an effort to educate the listensers concerning what's happening to their representative wealth and the "out of control" debt factory in Congress that's well on its way to ruining our purchasing power along with the help from Bernanke at the Fed.

http://news.yahoo.com/s/ynews/20100519/pl_ynews/ynews_pl2136_2
 By bluejay

05/19/2010  10:18AM

Last on gold is $1191.50.

And the media's drum beat goes on - forecasting $800 gold.

Today, it is Fortune Magazine http://money.cnn.com/2010/05/19/news/economy/gold.price.collapse.fortune/ marching through the gold party with the cartel's $800 streaming banner flying high in the public eye. It must have crossed the minds of independent thinkers that have read Fortune Magazine during the past, why hasn't the publication reported on the benefits of owning gold with projections of higher prices since it has been the best asset performer while the Dow Jones Averages have basically remained stagnant? Who does the publisher take his marching orders from?

It must be nice to have a losing short position in gold and have one of your friends, hopefully, bail you out with a negative report. Oh, the power of the press.

Gold is currently digesting a forced bull market reaction with it being off today $31 today at $1192.00, which is fine. It's just another opportunity to buy more at a great discounted price but obviously, Fortune has accomplished their goal today with their handlers marveling over the easy victory. Little do these fear mongers realize with this weakness: this market event will just be another bull trap for them to be punished further with continuing new highs down the road.

At the moment, gold is off $31 for the day. The move down from the recent $1250 high represents a decline of 4.9%.
With a last of $1189.50, the metal may or may not continue descending to test strong intermediate term support at the $1170 level.

The miscreants may still have another shot left in them to push gold temporarily lower from current levels with how they report this decline in their controlled media outlets.

How does today's cumulative 4.9% decline from a 1250 high stack up against other weak phases since last December in this major bull market?

1) For the month of December gold dropped from 1218 to 1075, a 143 dollar decline or 11.7%

2) For the period from January to February gold dropped from 1162 to 1053, a 109 dollar decline or 9.4%

3) During March gold dropped from 1144 to 1085, a 59 dollar decline or 5.2%

4) During April gold dropped from 1070 to 1023, a 47 dollar decline or 4.4%.

Using just the last two representative periods of weakness for comparative purposes, as a basis for a possible glimpse into understanding this market's intentions, it is very possible that this manipulated weakness has seen its day.
 By bluejay

05/15/2010  1:32PM

Gold closed out the week at $1231.40.

Jeff Clark from Casey's Gold and Resource Report says gold is talking:

I wonít always be this cheap. If you donít buy me soon, you may regret it. I may get less expensive in the short term, but donít mistake that to mean Iím losing value or that everything is fine with your paper currencies or your economic future. What youíve done to your fiat currencies will hurt you. What is coming in terms of the price of things will overwhelm you. What the government has debased will haunt you. Iím here to protect your finances. I may be the only thing that can really do that.

You can be cautious about the price, but donít be short-sighted about the purpose. Are you sure you own enough of me?
 By bluejay

05/14/2010  11:35AM

The Take Down

In London gold overnight trading the metal hit 1250 where it sold off a little to stabilize above 1245. When Comex opened this morning the metal drifted a little lower, had a little bounce back and then got hammered down to 1217. Following the concerted take down, gold had rallied back some with a last of about 1228.80.

This is the first real attack we have witnessed in past weeks of strength. The banks knew of this take down as it was planned ahead of time. Bullion banks were issuing naked Comex shorts yesterday in gold and silver as if they were passing out free cotton candy at Coney Island without takers realizing that they would have a stomach ache the next day. Isn't it amazing that some Wall Street banking firms show a profit everyday from trading?

The $30 take down this morning in dollar terms might get your attention but it was only 2.4% compared to the advance that started 11 trading days ago when gold pushed above a positive chart formation at 1170. Following that time period it advanced from 1172 to 1250, a gain of 6.7%. With the current trading price of 1132.50 gold is only down 1.4% from its high point of the day.

It's guessed that the semi-round number of $1250 scared the fiat manufacturers around the globe so much that some entity was elected to act in holding off the people in another attempt to scare them from turning in their fiats for gold and silver and related items. Remember, the REAL reason that gold is experiencing heavy demand: Loss of Confidence in Governments to Rule. Recent buyers have been educated enough to understand that governments will turn against their own people when their power base in threatened. One step is to devalue, quietly, their currency's purchasing power as the presses run 24 hours a day in their muffled basements. History is littered with the strong hand of the people when their life-style to survive becomes compromised as a result of the excessive self-interest by their leaders.

No better example of this mind-set to survive and maintain their power can be shown than what these banksters did with the government's blessings to the community in 2008 when they were threatened with a run on their banks: demean and devastate gold by selling prices as low as possible. Well, that didn't last long.

This style of unbridled greed, with regulators asleep next to them, caused every holder of precious metal related items severe losses. Some Canadian mining shares, with a slaughtering hand being slung by their related investment banks up north, were almost reduced to financial ruin. Drops of 90% were not unheard of.

Martin Armstrong stated that the Transitional Phase in gold has begun which will carry it to about $2500. So, expect gold to double in price with continuing attacks along the way from these miscreants. A remaining question is, over what time period? If the derivative's global expanding financial cancer is any indication, it'll be sooner, rather than later.
 By bluejay

05/11/2010  7:50PM

The major gold bull is alive and well.

After hitting an all-time high today of about $1234 gold is currently taking a breather in after hour's trading with a last of $1228.

Following a tentative fix to the Greek problem over the week-end, the bullion banks with aid from the Plunge Protection Team tried to pull the rug out from beneath gold before NY markets opened but it miserably failed, even after their foolish pre-opening sales were made all the way down to $1185.

The bullion banks are short and hurting. There is no sympathy here for them. These are the same people who are responsible for keeping pressure on its price and burdening gold mining companies that depend on a good price for their product to pay their bills. Currently, the major gold producers are working with a $200 plus profit margin due to high operating costs and for the smaller producers, they are lucky to show a modest profit at all.

The shorts in gold are hurting so much that they are squealing to other banks like Barclay's and Societe General to talk it down by making crazy projections each for $800 an ounce by the end of the year. What desperate foolishness.

The banks in general are like spoiled little brats, always insisting on having it their way by resorting to crying out like little babies over spilled milk wanting someone else to always bail them out. It's an old, pathetic and tiring story to endure.

Isn't it enough for the banks to have the GAAP's changed for their benefit and have their competition reduced where in this country now six banks control 60% of the action according to east Texas Mike from the KRLD radio show last Sunday night? Who knows the dollar amount that they got bailed out for with our money that was funneled through the IMF for the Greek bonds they were holding following the recent $1 trillion bailout. Enough is enough. The banksters are like the persistent squirrel at the bird feeder, taking what was not intended for them. Stealing is the first word that comes to mind.

Now, on to more positive thoughts from Martin Armstrong from his March 23, 2009 essay, Destroying Capital Formation - Economic Suicide:

(Concerning gold)

"The next technical barrier will be slightly above the current high(1040), forming at the 1100 to 1200 area. Once we begin to see gold above the 1200 level, then we should start to see the Phase Transition type move that will carry it upward to about $2500. It is still entirely possible for gold to even reach $5000. That is the extreme projection that would signal serious decline in Public Confidence in government as a whole. Reaching $2500 is a normal stage of market development."

Mr Armstrong's empirical analysis is straight and does not have an axe to grind like the cry babies do, he calls it the way he sees it.
 By bluejay

05/10/2010  9:37AM

Last on gold is $1199.40 recovering from a $1185 low overnight in London.

On Thursday the DOW dropped more than 1000 points within 10 minutes. The media explained this an order entry mistake, nothing could be further from the truth.

The following link to a KRLD Dallas radio show late last night gives you the facts that will, more than likely, frighten you.


http://www.krld.com/topic/play_window.php?audioType=Episode&audioId=4640594
 By bluejay

05/07/2010  7:29PM

Gold closed out the week at $1208.00.

Check out:

http://www.jsmineset.com

This is the real news.

California's financial mess that we don't hear or read much about is 4 times as grave as is Greece's, Jim Sinclair at jsmineset.com reports.

The promised entitlements for the California teacher's union is $540 billion in the hole.

Giant protests are due for Sacramento once the public gets fed up enough to take to the streets.
 By bluejay

05/07/2010  10:50AM

Last on gold is $1209.50.

It appears there is tinkering in place with all precious metal related items as recently gold bettered the $1200 level.

In the past two days silver and been beaten down with paper products on the Comex but that can only last for a short period as the primary trend is up and has many years to run. Today, potential silver buyers thought it through and concluded this is nothing but miscreant drama and elected to gather up cheap silver driving prices ahead over $1 at one point while hitting $18.70 from early morning lows of $17.50. That's a pop of nearly 7%.

What is concerning is the amount of naked short selling that is humbling the gold and silver shares with higher metal prices. The clearing corp. for stocks is about the same as the accounting standards board: they rewrite the the rules to appease their handlers thus keeping the public in the dark concerning what is.

It's a real saver's tragedy that banks are permitteed to value their garbage derivative holdings at whatever price they choose and have them applied to their official reserves and somewhere along the way earnings and net worth get skewed big time. It's a real tragedy.

It's clear and simple aside from the misguided regulators: selling shares that are not owned or borrowed is simply, FRAUD. Why the SEC gives the right by doing nothing to the naked short sellers to increase a company's outstanding issued amount of shares and hurt companies and their shareholders by this criminal activity currently brought to excess in preventing the shares from going higher and in many cases driving them lower, is beyond moral reason.

You can't really say that employees at the SEC haven't been taught better in their college days concerning morals and that crime doesn't pay, or does it?
 By bluejay

05/06/2010  7:32PM

Gold is drifting back after today's run with a last of $1200.50.

The following is the link to an educational interview between Eric King and Jim Sinclair that took place just prior to the stock market's close concerning gold, currencies and the stock market which, at one point today, was down 1000 points.

http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2010/5/6_Jim_Sinclair.html
 By bluejay

05/06/2010  12:08PM

Last on gold is $1207.70. It would be nice this time for it to stabilize above $1200, we'll see.

I think what we're witnessing here is that western central bankers have totally lost control of the gold price.

What tools they have left to keep confidence in these dying fiats is more BS for the press along with big naked selling of the gold stocks and now forcing silver lower. In the end they'll be trapped with using these levers like they are with the current gold price.

Silver has been pressured lower in the past two days. If the miscreants can't find anymore gold to sell with paper products expected to be called for delivery sooner than later, why not throw a bunch of non-backed silver paper contracts around in the silver pits? These people are becoming desperate and are now just frustrated want-to-be's.
 By bluejay

05/05/2010  6:37PM

Gold was temporarily weak this morning trading below $1160 until buyers came rushing in taking out offerings left and right. The last on gold is $1175.10

The linked article below was written by Greg Hunter explaining what's happening to your currency.


http://usawatchdog.com/inflation-and-bailouts-go-hand-in-hand/
 By bluejay

05/04/2010  2:29PM

Gold after swinging between $1193 and then down to $1166 is attempting to stablize itslf in the $1170 area.

Gold has been working on a bottom over the last 5 months and just recently pushed above key resistance at the $1160 level. The result was additional negative responses adding to the ones that started up about three weeks ago from the peanut gallery like, gold is going to $800.

It would not be a surprise to see gold taken down below $1160, temporarily, in an attempt to negate this recent positive chart event. So be prepared, just in case.

It's amazing how the paper shuffling at the Comex effects physical gold priceswhen there is basically no physical metal behind these products. The cartel sellers would be better off trading coupons at Safeway for the risk they face these days. The idea these paper products represent gold that is just not available is a ticking time bomb that will eventually and completely destroy the miscreants in the end, once and for all.

Maybe then, our company can receive a more realistic value from our gold sales and be better prepared to deal with our future without having to go around hat in hand always looking for funds.

The following is an excellent article by Darryl Schoon an historian and one who clearly sees the handwriting on the wall as it relates to our future.


http://www.kitco.com/ind/schoon/may042010.html
 By bluejay

04/29/2010  6:18PM

Gold is warming up in after hours trading with a last of $1173.70.

For the past two weeks or so gold has been closely watched, witnessing the attacks on it by the cartel and also the bullish understone in it showing the miscreants being repeatedly slapped in the face with good daily run-ups following periods of crooked engineered weakness.

What's changed? In recent testimony submitted to the CFTC in hearings it was stated by reputable market participants that the gold and silver markets are PHONY with accompanying proof. Of course, this did not get reported in the media. Sounds like the news blackout on the protests on Wall Street when the big banks got all of our free Tarp money.

The key here is that it was reported that there are paper products outstanding for 100 times more physical gold that is available. Silver has also been rigged not to go higher with the same products. J.P. Morgan shame on you.

It is being predicted here that the jig is up. The gold and silver train is in the process of leaving the station, All Aboard! Your ticket for the ride is owning physical gold and silver or gold and silver companies with the metal in the ground.

Make no mistake about this, THIS IS THE REAL THING.
 By bluejay

04/28/2010  12:14PM

Last on gold is $1168.90. As more and more countries and economic blocs bail out sovereign debt failures, the higher and higher gold will go.

The most important reason for buying gold is a vote against the government and a vote for your future.

It was heard the other day that following a poll it found that 85% of those polled expected a decline in the gold price. Standing alone as a contrarian, this is a buy signal. The time to sell a little is when the opposite is true.

Don't know if anyone heard this one but the bankruptcy filings were up 46% in California for 2009 and the current unemploment in the State stands at 24%. This whole thing is coming to a head. Are you prepared for the fallout?

The fallout will equate to a much lower dollar and a much higher gold price along with the State coming to us to remedy their brazen ignorant and selfish failures with stipulations under law(more stealing) with legal requests(orders) for a bigger share of our family's net worth. Had enough yet?

Where would the State Water Board employees get a job if their division were eliminated? Vote the government bums out that condone the rape of corporate California and the families that rely upon it for work.
 By bluejay

04/22/2010  6:02PM

Rick and Dave and others, there is hope on the way if Peter Schiff gets elected to the Senate. Check out his words on youtube.com:

http://www.youtube.com/watch?v=alvZY3AXqF0
 By Dave I.

04/21/2010  10:01PM

Hi every body,

A proposal of a value added Tax, which is a sales tax proposal. This type of tax is more disruptive then income tax. I know that many states that do not have sales tax will not support a national sales tax. Evidence of that is from historical blarney of congress.
Also V.A.T. is not constitutional, and would require an amendment to the constitution.
A value added tax requires people to have money to pay it.
If you do not make enough money, then it is not necessary to pay income tax. Also, if I had a bucket full of earned money and when I spent it with a value added tax, I would be taxed twice on the same money. I think we nee another tea party.

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