July 6, 2022 

Gold Enters Major Bull Market


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 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.

 By bluejay

05/07/2010  7:29PM

Gold closed out the week at $1208.00.

Check out:


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.

 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.

 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.

 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:

 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.
 By bluejay

04/21/2010  7:18PM

Last on gold is $1144.70 as negative attack dogs appear anemic.

Better get your gold or add to your holdings now, as here comes Uncle Sam with his VAT tax:

 By bluejay

04/19/2010  1:57PM

Last on gold is $1135.30.

We are in the midst of threatening history in the making . In order to deal with negative changes that are coming down the pike people need to concentrate on educating themselves more so than ever because their future is at stake.

The following are important sources for the learning process to begin in earnest.

1- http://www.krld.com

Listen to Charley Jones interviews with east Texas Mike. Rebroadcasts of Sunday night interviews at 10:07 PM Pacific Time are available on demand.

2- http://www.kingworldnews.com

Listen, especially, to Eric King's recent interview with Jim Rickards along with other informative interviews that are available.

3- http://www.martinarmstrong.org

You want the truth? This is where it begins. As an example, Mr. Armstrong recently told me that, "creativity is different than IQ. A lot more people are creative than many suspect. Einstein, Mark Twain, even Bill Gates, were creative. Schools don't recognize what really matters. The Fed Reserve has more PHD's than anyplace but they can't tie their shoes and talk at the same time. There is no spark."

The sad fact is we lack genuine leadership. Congress is a real mess with few taking their responsibilities seriously.

4- http://www.youtube.com

Search Gerald Celente, Jim Rogers, Peter Schiff and Max Keiser.

As Bob Dylan sang, "Times they are a changing."
 By bluejay

04/18/2010  3:37PM

Gold closed out the week on a weak note at $1136.80. The propaganda machine started up last Monday while almost all senior gold shares were right up against their individual chart resistance areas. The miscreants couldn't have picked a better spot to start up their short term ambitions again.

Then on Friday came the news of the SEC's fraud charges being lodged against Goldman Sachs for their inappropriate dealing with CDO's. The spin doctors started telling the news outlets that this event was gold negative which it wasn't.

It's suspected that next week will bare a softer tone in gold, silver and related shares. I stand ready to add to positions on any follow through from last week.

We'll have to wait a week or so for expert opinion from Martin Armstrong concerning the Goldman Sachs charges. This is mentioned for the reason that Goldman along with Morgan market the governments debt and are their pet bullion banks in attempting to keep a lid on gold.
 By bluejay

04/13/2010  10:13AM

Last on gold is $1150.80.

The propaganda machine is being turned on again. It started Monday as Goldman Sachs reduced their projections for gold. The Street.com got into the act today with the following headline: "Gold Prices Cave, Break $1150." How foolish these miscreants are with their misplaced words.

The scary part is the employees at the Treasury and Fed are totally lost at trying to figure out the mess they put us all into. Creating service oriented positions with borrowed money is not the answer. The answer is creating jobs that produce something real which will enable the economy to grow.

I read the other day that we are importing silver while mines and workers are idle, especially in Idaho. What a joke these public service employees are. When will they get it: rules and regulations destroy companies and cost taxpayers needless amonts of money.

In another light, Whwn I recently saw Hank Paulson getting off a plane in China as one of our representatives I knew our goose was cooked.

All currencies will fall against gold and silver and there is nothing that our leaders are willing to do to stop it.

Their game is up. It now remains just a matter of time untill the next big crisis hits. Martin Armstrong, who has an outstanding track record, states the next really big one arrives in the time period from 2011 to 2012 with another following in 2015 to 2016 period. Heard recently that real estate prices may come down another 50% from current levels.

You can count on a couple of things in the time period ahead: Your money will continue to buy less and gold will continue to protect your buying power.

As Dan Norcini recently generally stated at jsmineset.com, the currency that we exchange with each other represents only someone else's debt with little to nothing behind it. Just be sure that when the music stops your're not left standing there wondering who took your seat because no one will be offering you one.

Being on your own with pockets full of pretty colored bills with lots of zeros will soon be forgotten. Remember the words, "Not Worth A Continental?"

You wealth will always be determined by how many ounces of gold it equates into.

Gold is insurance and anytime you can buy more of it at lower prices the more secure your future becomes. Don't let lower prices bother you, meet them head on by gathering up what you can.
 By bluejay

04/09/2010  2:50PM

Gold is closing out the week at around $1162.00 an ounce.

We are all going to be hit, one way or the other, by an eventual soveriegn debt collapse. Maybe, they just won't tell us the truth but just give us a new currency of some sorts to cover it all up. Times are very serious as the link below to Martin Armstrong's latest missive indicates.

Martin is currented confined to the hole for assisting an inmate with his legal matters. He has to sleep on concrete and has very few writing materials.

It looks very much the case today with gold and silver that the precious metals market is ready to repeat what happened in 1979. This time it won't be 100% inflation oriented. People around the world are scared to death and are dumping soveriegn debt for hard goods.

When the failure of soveriegn debt really starts, it will be an historical event. What we will witness is a series of dominos flipping over and over while destroying public wealth and creating massive amounts of new poor.

Our politicians have sucked the system dry. It is a disgrace that we have permitted the hired help to take charge of our lives and now they are the boss. As Rick has said so many times before, we still have our vote. When the time comes, make your vote count.

We have all been ruled and regulated like serfs in the excess by these fools who see nothing wrong in their behavior. They are no more than sociopaths. As Gerald Celente has stated, they interpret Justice as "Just Us."


P.S. The government put Mr. Armstrong in jail because he didn't want to cooperate in sharing his analytical computer software with a certain government agency as well as telling the truth concerning Goldman Sachs' global ambitions.
 By bluejay

04/08/2010  10:03AM

Last on gold is $1151.60

More on the gold and silver shortage.

The Latest Gold Fraud Bombshell: Canada's Only Bullion Bank Gold Vault Is Practically Empty
Submitted by Tyler Durden on 04/07/2010 10:30 -0500

Bank RunCommodity Futures Trading CommissionHong KongMorgan StanleyPrecious Metals

Continuing on the trail of exposing what is rapidly becoming one of the largest frauds in commodity markets history is the most recent interview by Eric King with GATA's Adrian Douglas, Harvey Orgen (who recently testified before the CFTC hearing) and his son, Lenny, in which the two discuss their visit to the only bullion bank vault in Canada, that of ScotiaMocatta, located at 40 King Street West in Toronto, and find the vault is practically empty. This is a relevant segue to a class action lawsuit filed against Morgan Stanley, which was settled out of court, in which it was alleged that Morgan Stanley told clients it was selling them precious metals that they would own in full and that the company would store, yet even despite charging storage fees was not in actual possession of the bullion. It appears that this kind of lack of physical holdings by all who claim to have gold in storage, is pervasive as the actual gold globally is held primarily in paper or electronic form. Lenny Organ who was the person to enter the vault of ScotiaMocatta, says "What shocked me was how little gold and silver they actually had." Lenny describes exactly how much (or little as the case may be) silver was available - roughly 60,000 ounces. As for gold - 210 400 oz bars, 4,000 maples, 500 eagles, 10 kilo bars, 10 one kilogram pieces of gold nugget form, which Adrian Douglas calculates as being $100 million worth, which is just one tenth of what the Royal Mint of Canada sold in 2008, or over $1 billion worth of gold. As Orgen concludes: "The game ends when the people who own all these paper obligations say enough and take physical delivery, and that's when the mess will occur."

Also note the interesting detour into what Stephan Spicer of the Central Fund Of Canada, said regarding his friend at a major bank, who wanted access to his 15,000 oz of silver, and had to wait 6-8 weeks for its to be flown in from Hong Kong.

It is funny that central bankers thought they could take the ponzi mentality of infinite dilution of all assets coupled with infinite debt issuance, as they have done to fiat money, and apply it to gold, in essence piling leverage upon leverage. They underestimated gold holders' willingness to be diluted into perpetuity - when the realization that gold owned is just 1% of what is physically deliverable, you will see the biggest bank run in history.
 By bluejay

04/07/2010  10:52PM

Last on gold is $1146.00, earlier it had been trading over $1150.00.

The gold and silver price rigging scam by fiat currency managers will be over soon. Jim Sinclair has recently stated that you won't be able to buy gold after year's end. Why? Because there are 100 times more ounces committed to all sorts of paper products saying that there is gold behind them, when in reality, it is an untruth.

China has quite a serious problem: If it buys gold outside of its own country's production what guarantees will be good enough for them to insure delivery?

The game will soon be up when the media is forced to report the real news when delivery failures can't be hidden from the public any longer when the Genie escapes from the bottle. Right now, the press is keeping the lid on it all concerning the fact that there is only one ounce of physical gold available for every hundred that have been promised. Concerning silver, it has to be worse with large US banks continuing to be naked short.

If you haven't already got the facts from kingworldnews.com then you should go to their site and listen to Eric King's past few interviews.

The days are becoming limited for gold and silver acquisition as more and more people are beconing aware of this great tradegy. Eric King has stated that this fraud is the greatest financial fraud ever to be experienced in the history of the world.

Before the bubble explodes and criminals identified, it's quite apparent that everyone needs to have gold and silver in some form plus "in your own personal possession".

News out today states that 6,900 people file for bankruptcy each day. For the month of March, 158,000 filed for bankruptcy protection. Some people don't even have enough money to file as it costs anywhere from $1500 to $3500 for the bankruptcy attorney.

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