June 24, 2018 
 Sunday 
 
 

Forum
Topic:
Gold Enters Major Bull Market

       

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 By bluejay

12/01/2009  7:15PM

Gold continues advancing as if it were at full steam ahead with a last sale of $1207.90.

One must wonder, are we in a historical run on the gold shorts? Do educated suspected short term chart trouble areas mean nothing to this charging bull? Are the the banks who heavily shorted gold down to about $700 last year on the verge of being wiped out? Are these some of the banks that people you know still have their money deposited with? Will the FDIC cover the banks continuing gambling losses that go so horribly wrong again?

Even though gold could be ahead of itself on a short term basis, that's where your safety and independence from the grumbling fiat system lies.

Below are some words spoken by Lorimer Wilson recently:

How high will precious metals equities and the gold price go?

My sense is that it will be in orders of magnitude far greater than most analysts allow themselves to state or believe. We frequently see price projections of 20 or 50 percent higher than today.

Some even allow themselves to suggest that gold will double in price before it has reached its cycle high. We may even see a rare analyst allow himself to speculate that gold prices may find and end at the $3,000 an ounce level. Of course a few discredited gold bugs suggest numbers even greater.

So why am I so optimistic about the eventual price of gold?

It is because an affinity for and an understanding of the political mindset causes me to understand what decision makers will do…and why. Because a politician follows the political calendar, s(he)/he only concerns himself/herself with the time horizon leading to the next election.

Anything requiring decisions beyond the date of the next election will be the responsibility of whoever is on the next watch. If the politician in office today is in office after the next election, a shrug of the shoulder indicates that worries of that kind can be dismissed for now to be dealt with later.

So major and difficult, but necessary, decisions are inevitably deferred. In their place spending money gives the appearance of concern and of doing something to fix the apparent problem. Aren’t those elected officials doing what we elected them to do? It certainly looks as if they are.

More cynical observers would characterize these actions by the political class and their senior bureaucratic minions as buying time hoping that something positive might magically emerge.

Those who are super cynical would even conclude give-away programs are designed simply to bribe the voters in order to curry goodwill for another term at the levers of power.

What all this means is that there is no discipline or inclination to do anything of real value in fixing the core economic and financial problems. That being the case, new programs, more spending stimulus and money creation will always be the order of the day. Hence the currency will devalue and investors will find gold as their best safe-haven refuge.

The dollar will devalue because massive dilution caused by incessant money creation allows future obligations to become more manageable – for government – because it is the only way that it can meet its future obligations for employee pensions, accumulated debt, Medicare and social security.

A nominal dollar which buys much less in the future than it does today is still a dollar. Unfortunately the holders or recipients of those devalued pieces of paper will find they are essentially fraudulent promises.

These realities make gold the closest thing to a sure-bet investment. They are also the reasons why gold will go much higher than most of us allow ourselves to contemplate.

Buckle your seatbelts and enjoy the ride ahead!
 By bluejay

12/01/2009  12:58PM

Last on gold is $1196.10 but down from an earlier high of $1202.50.

The linked article below is a bunch of propaganda being directed at the public from the well entrenched anti-gold establishment.

Isn't it a bit odd that the article fails to address government deficits and currency debasement? It's quite obvious that the cartel is mounting an effort to halt gold's advance right here at the $1200 area. Actually, if I were in charge of their war room activities I would be doing the same as $1200 and into the $1224 area seem to be the metal's next short term stop. Rome wasn't built in a day and neither can the gold price go straight up, UNLESS there is a big surprise coming.

http://www.theglobeandmail.com/report-on-business/go-for-the-gold-may-mean-going-for-a-loss/article1383592/
 By bluejay

11/26/2009  4:18PM

Last on gold is $1183.60 after nearly hitting $1196 earlier on the Dubai negative news concerning the failure to meet their debt obligations.

For a contrarian, it seems there is an above average chance that gold has made a short term high this Turkey Day. The upper limit of gold's ascending long term channel line is right at $1200. The line in the past when approached has served notice that the metal is due for a rest.

If gold continues past $1200 on this move, then it would have to be considered that there are financial troubles out there that we don't know about that will be surfacing in due time.
 By bluejay

11/23/2009  12:47PM

Last on gold is $1165.00 after hitting an earlier high of about $1175.

The following is very important:

This is a must read--red colored emphasis mine:

China quietly introduces new financial system
Benjamin Fulford

(Editor's Note: The following missive, from Mr. Fulford, portends some radical changes ahead, Not only are they radical, he also suggests that they are imminent. Do your own "due diligence" but stay open to the possibilities. - JSB)

China has stealthily introduced a new financial system based on the renminbi which is well on its way to becoming fully convertible, according to a high-level Chinese source. In addition, China is purchasing 10,000 tons of gold to back up a new fund designed to develop and market heretofore forbidden and suppressed technologies. The fund will be based outside of China and will be controlled by prominent members of the Chinese overseas community. The gold purchase will take some time because of the logistics of transporting it and the Chinese wish to test it thoroughly. Both the Chinese government and MI6 now confirm reports that much of the gold sold by the Federal Reserve Board over the past decade is in fact gold plated tungsten.

For its part, the renminbi is now convertible with South American currencies, the rouble, Middle-Eastern currencies, the yen, South East Asian currencies and African currencies. "We will slowly introduce our new financial system in parallel with the old one and hope that people steadily migrate towards it," the Chinese official says.

Meanwhile, the latest G20 meeting ended in acrimony and chaos. The leadership of the West is in total disarray and will remain so until the Federal Reserve Board's bankruptcy becomes visible even to brainwashed section of the Western public. This is now expected by January or February. Both MI6 and a senior Chinese government source now predict the collapse of the Federal Reserve dollar by that time.

We are also hearing various reports that many Pentagon and other US alphabet suit agency figures with both US and Israeli citizenship have recently fled to Israel. Things are coming to a head.

China is proposing to replace the US dollar with the Hong Kong dollar

At a top secret high-finance meeting scheduled for this weekend, China will propose that the US dollar be replaced by the Hong Kong dollar, according to a senior MI6 source. The proposal is under serious consideration by the backers of the new financial system.

As we have previously reported most US dollars ever created are now backed by gold at the rate of 1/28th of a gram per dollar. The fraudulent Federal Reserve Board fiat dollars issued after September, 2008 are not. Nor are any dollars derived from fraudulent "derivatives." So, to replace the US dollar with the Hong Kong dollar all that would be required would be to rename the gold-backed dollars. Any new Hong Kong dollars issued would be backed by the Renminbi, according to the Chinese proposal.

The Federal Reserve note will fall to 0.03 cents by January

It can now be stated that all the US dollars connected to legitimate commerce are backed by gold at the rate of 1/28th of a gram per dollar. The remaining Federal Reserve Board debt notes will soon fall in value to 0.03 cents, according to extremely high level financial sources. This means all legitimate businessmen and workers paid in US dollars have nothing to worry about. However, high level con-artists selling financial "derivatives," will be left with 0.03% of what they thought they owned.

It is amazing to see how many intelligent "well informed" people still do not have a clue about what is going on. If you connect the dots in the corporate propaganda media, you should be able to see for yourself without going to so-called "conspiracy" news sites. Among countries that have publicly said they will no longer use dollars for trade with each other can be found: China, Russia, Japan, South America, the Arab league, Turkey, Iran etc.
 By bluejay

11/22/2009  11:53PM

Last of gold is $1166.00.
 By bluejay

11/22/2009  5:45PM

Whoopee, last on gold is $1160.60. Physical gold is king, while the days of paper gold are apparently coming to an end.
 By bluejay

11/20/2009  7:09PM

On a last sale today of $1150.90, gold has established an all-time high weekly close.

Below is a link to the short article from the NYSE to its listed companies and members explaining in their view why owning gold might not be such a good idea. The story was linked from the jsmineset.com site.

You have to understand Wall Street hates gold and generally has the same moronic stance as do some of their media companies when it comes to reporting objectively on the positive substance of reasoning behind gold's strength.

http://www.jsmineset.com/wp-content/uploads/2009/11/november2009-Medley-pdf
 By bluejay

11/20/2009  7:06PM

On a last sale today of $1150.90, gold has established an all-time high weekly close.

Below is a link to the short article from the NYSE to its listed companies and members explaining in their view why owning gold might not be such a good idea. The story was linked from the jsmineset.com site.

You have to understand Wall Street hates gold and generally has the same moronic stance as do some of their media companies when it comes to reporting objectively on the positive substance of reasoning behind gold's strength.
 By bluejay

11/20/2009  6:37AM

Last on gold is $1138.90.

Last on Silver is $18.25

The following link is to a well written story out of South Africa concerning silver and its future.

http://www.miningmx.com/news/gold_and_silver/is-silver-salvation-upon-us.htm
 By bluejay

11/19/2009  8:54PM

Last on gold is $1143.70.

Check out Dan Norcini's staircase gold chart at jsmineset.com.

Below is the link to an unusually bullish interview that was permitted to be broadcast on CNBC.

http://www.cnbc.com/id/15840232?video=1336107764&play=1
 By bluejay

11/18/2009  3:34PM

Sorry, forgot to link the article in the previous submission, here it is:

http://www.kitco.com/ind/willie/nov182009.html
 By bluejay

11/18/2009  3:32PM

Last on gold is $1145.90.

The below linked article, in case folks missed it at kitco.com, "Zinc Dimes, Tungsten Gold & Lost Respect" by Jim Willie is an extremely enlightening story concerning current events effecting gold.

If you have time to read this, you'll be in the minority of well educated people. As quantitative easing permits the bankers to pump up the general averages for trading profits, as they goose us all on increased card interest charges, the average citizen has absolutely no idea of the consequences heading their way if they continue to have gold absent from their wealth holdings.
 By Rick

11/18/2009  12:12PM

Good ideas, Bluejay. I just now spoke with Mike and encouraged him to consider a broader net-work...specifically suggesting creating a FaceBook page, which, as of noon today is up! This may spur activity...let's all get involved.
 By bluejay

11/18/2009  10:14AM

Last on gold is $1144.90(whoops now $1142.10) on higher than expected CPI figures. Earlier it hit about $1154 and appears to have reached a short term high.

Rick, I am always open to new ideas as they are the forerunner of solutions and inventions.

One slight problem for potential investors of the Company is, where do they go to buy shares? Do they go to the gray market which is a butcher shop or do they call the Company?

First, investors want visibility and liquidity in markets and really wouldn't wouldn't want to call orders into the company unless historical stories or press releases were quite compelling. They are accustom to dealing with brokers and seeing their positions on monthly statements.

Although we could advertise the company on kitco.com along with mentioning that for ordering certificates out our rates are the cheapest in the industry as some of them charge upwards of $250. This could be appealing to some investors but our last sale on the gray market at $0.0002 doesn't speak too highly of us in market language.

I think that if enough shareholders put in bids below asset value and significantly higher than our last OTC sale in NY then the liquidity concern could be half solved.

Of course, being listed somewhere on an exchange or a having a higher OTC creditability level would compliment nicely any submitted news articles of the mine or advertisements submitted to kitco.com.

Keep thinking.

Mike is a one man show and is really overwhelmed with responsibilities. I would think that having a one week seminar in Alleghany, weather permitting, between concerned shareholders for a general "think tank" experience would greatly assist him in.
 By Rick

11/17/2009  4:44PM

Bluejay, or anyone else following this topic. Kitco.com is a great web-site, which I visit a few times a day, minimum. How can OAu post news, opinions, potential, historic production figures, and all that is in Allegany on the site?
 By bluejay

11/16/2009  8:14AM

Last on gold is $1131.40 while being higher earlier above $1135.

Last on silver is $18.22 up $0.80.

Years ago while I was working on an Exchange trading floor Forbes magazine published one of their issue with the title, "The Death of Copper" on their front page. The article inside explained why, basically, copper's future held little promise. A significant low in copper was established about the same time of this big splash against the metal on their front page cover.

Since dicing silver on Friday the metal is up nearly $1 or just over 5%. If you want a fast ride to the poor house just keep believing in the media's negative lean towards real money, gold and silver.
 By bluejay

11/15/2009  10:31PM

Last on gold tonight in Asian markets is $1128.50.

The following comments concerning silver are from the precious metal's unfriendly Forbes magazine which seems to be pushing these planted words for the big silver short, J.P. Morgan:

Silver gained 16 cents per ounce, rising to $17.34 after a bit of a wobbly start this morning. According to Forbes, some analysts warn the fundamentals for silver remain a cause for continued concern. "Silver is really struggling to keep up with gold at the moment because this is a gold story, it is not a silver story," RBS analyst Stephen Briggs said. "Silver is only a geared play on gold, its own fundamentals are not great. If it weren't for the ETF buying the market is in surplus."

Last on silver tonight is $17.63 up $0.21.
 By bluejay

11/15/2009  4:31PM

Last on gold is $1124.00

The following is from Chris Powell of GATA.

Great links to interviews with "The Einstein of Money," Antal Fekete recorded in New Zealand in late October.

Antal Fekete explains free coinage of gold -- to New Zealanders

Section: Daily Dispatches

10:40p ET Thursday, October 29, 2009

Dear Friend of GATA and Gold:

OK, maybe American broadcasting and cinema have not been concocted by the Federal Reserve to anesthetize the country and most of the world to their expropriation by the New York financial houses. But it seems that you still have to go to tiny (if incomparably beautiful and strange) New Zealand at the bottom of the world to hear the economist and monetary historian Antal Fekete talk about what's wrong with the world financial system.

On his way to a presentation at the Gold Standard Institute in Canberra, Australia, Fekete gave a couple of interviews in New Zealand this week -- one on Radio New Zealand, the other on the New Zealand national television station TV3. He argued not for a gold standard but for free coinage of gold, whereby the government mint would receive raw metal from anyone and return it to him in untaxed coin, thus facilitating the transfer of the public's wealth from fiat currency into commodity currency whenever the former seemed likely to lose value. Fekete's idea seems pretty close to what GATA has long advocated, a free market in the precious metals.

Fekete's interview with Radio New Zealand is about 12 minutes long and you can listen to it here:

http://www.radionz.co.nz/audio/national/sunday/2009/10/25/professor_anta...

Fekete's interview with TV3 is about five minutes long and you can watch it here:

http://www.3news.co.nz/Aligning-currency-with-a-gold-standard/tabid/369/...

TV3's program schedule discloses that among the station's other offerings to New Zealanders are "CSI Miami," "The Simpsons," and "America's Next Top Model." This really is going too far. Don't they have any pretty girls of their own Down Under and Off to the Side?

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
 By bluejay

11/15/2009  3:17PM

Last on gold is $1123.80 and is making new all-time highs again. The time is getting closer when the temptation for big money to invest in our properties will be irresistible.

If anyone knows of any more fools out there that want to sell our shares at any price, I will take a million at $0.01.
 By bluejay

11/15/2009  1:38PM

Saturday, November 14, 2009

Bullish Signal:

Interesting Step Pattern Developing in Gold

Posted by The Firecracker Report at 4:01 AM

An interesting bullish staircase pattern is visible in gold prices. Jim Sinclair calls this pattern the swiss staircase and he views the pattern as an indicator that prices are headed much higher. We enclose a graph(sorry couldn't post the chart- it's at http://www.jsmineset.com)of this step pattern posted by Trader Dan Norcini on Jim Sinclair's website below. Since the price of gold on the right axis is not visible in Dan's chart we have posted the first chart as a reference for our readers.

Money Morning explains the technical rationale behind this step pattern formation:

As asset prices rise, they often initially overshoot. Then they correct – fall back a bit. Then they consolidate, or trade sideways, usually for a period of six to 18 months, but sometimes for even longer. It’s this period of sideways trading that creates the horizontal step – a technical-analysis tool that lets us see the foundation for the next step up in the long-term uptrend.

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