October 26, 2020 
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Forum
Topic:
Gold Enters Major Bull Market

       

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 By Hans Kummerow

12/15/2008  3:04PM

Thanks for your comments bluejay.

I shall write a letter to the team of Barrack Obama, asking them to reinstate the M3-Statistics for the US-Dollar.

By the way - the value of the US-Dollar is melting like ice in the sun-shine against all other major currencies since about a week. Markets have obviously given up on the US-Dollar.

That decline of the US-Dollar should result in higher US-Dollar gold prices, well beyond the 830 level. Because many traders are thinking in Yen-, Renmimbi- or Euro-Values. Not so much in US-Dollar price levels.
 By bluejay

12/14/2008  4:40PM

Gold trading higher at $828.90, up $7.90.(Just as a passing thought: it wouldn't be surprising to see the evil forces surface at the $830 level with more paper gold selling)

Thanks for your thoughts Hans.

I remember reading back a few months or so comments from John Williams at shawdowstats.com that the money supply would continue to shrink until November or December when he anticipated a trend reversal.

Usually when the banks take in capital, as with the current handout program to them, they would use it for justifying more loans which in effect increases the money supply. This time it's different as they are content to buy government bonds for safe income while keeping their loan activities to a minimum.

During the depression of the early 1930's in the US it was not the lack of capital at big banks that kept everyone down, it was the bank's unwillingness to make loans that extended the problem and forced nearly 30% of the workings class into the unemployment ranks.

The banks have basically halted their lending practices which I think the government is not pleased over. Obama's stimulous plan of handing out free money to the public in the suspected amount of $1 trillion, the first time around, will get the money supply moving higher quite soon.

It is my belief that this whole collapse was engineered way ahead of time with the creation of OTC derivatives. Brooksley Born the acting commissioner of the CFTC in 1987 tried in vain to regulate these derivatives but was beaten back by the likes of Greenspan, Rubin and Phil Gramm in the Senate.

I believe it was all setup by strong banking interests to purposely create a crisis. The aftermath of a crisis results in the public's wealth being destroyed to some extent and the influence and capital of large banks being increased.

It is a known fact that J.P. Morgan created a banking crisis in 1907 that cost Americans millions of dollars both in the stock market and in smaller banks which eventually closed their doors.

This crisis was one of the reasons that the Fed was voted in replacing the US Treasury for creating money which was approved by Woodrow Wilson soon after he took office in April of 1913. Wilson's campaigning for president was strongly supported by the banking industry.

Concerning contacting Bernanke to reinstate M-3 money supply levels, Bernanke takes his orders via J.P. Morgan and they from the Rothschilds in Europe. Not even you, being closer to the source than we are here, stand any kind of a chance trying to persuade by far the richest entity on the plant to change their money making ways.

These are the same people who believe, "Give me a control of a nation's money and I care not who writes its laws."

The following link has many interesting graph studies including the current unofficial chart on US M3 money supply.

http://www.shadowstats.com/alternate_data
 By Hans Kummerow

12/13/2008  9:11PM

Deflationary and inflationary impacts of previously unknown size are causing will swings in the money supply M3.

After excessive growth during 2006 and 2007 we have seen a sharp decline in M3 growth during the last 6 month of 2008. It is now down to almost no growth and the trend is pointing at a further decline of M3-growth, that means deflation. The first actual contraction of M3 in decades is looming on the horizon. And that is despite all the huge cash-outlays in 2008-bail-out operations.

The only explanation that I can offer for this phenomen is, that the gigantic equity losses of the global banking industry have triggered balance-sheet clipping operations in the area of some 20 to 30 trillion US-Dollars. Most of this clipping is achieved by reducing the position "Loans outstanding".

The deflationary impact of such action is substantial and it may be a while until inflationary forces kick in again. The fact, the platin is cheaper than gold these days, shows how desparate some people are strapped for cash. More commodities will be sacrificed at very low price levels to raise cash during 2009. It is not only crooks who are manipulating the price of gold. Some very hard facts, like the need for cash, are supporting deflationary impacts these days.

Please keep that in mind, Mike and bluejay. And maybe, ask Ben Bernanke, to make the Fed publish M3 figures again. It is outraging, that the US-Gov't has discontinued the publishing of such important information for almost three years by now.
 By bluejay

12/12/2008  6:52PM

Gold closed the week out at $822.00.

The following is Jim Sinclairs thoughts tonight concerning the miscreants trying to keep the lid on gold:

I firmly believe the scams in gold, once disclosed, are going to set your hair on fire.

These will take the form of no gold gold certificates, paper gold rather than bullion confirmed as bullion to simply taking your money, sending you a confirmation without anything whatsoever behind it.

Dr. Fekete’s warning of gold scams don’t even scratch the surface of what I assure you will surface.

Just because someone says or writes what you want to believe, don’t for a second assume the author has ethics.
 By bluejay

12/12/2008  10:24AM

Gold $824.30 up $4.60
Platinum $819 down $17.00
Silver $ $10.21 down $0.10

The platinum price has moved under gold's for the first time since 1996. Sure, this in effect is being caused by the current world recession with 50% of platinum's yearly production consumed for industrial applications. The remaining past production of 40% goes for jewelry, Japan consumes 90% of this amount, with the remaining 10% going for investment purposes. It is suspected that these last two percentages are on the increase due to wealth protection demand.

Very little has been written about the suspected increased demand for platinum bullion coins. Holding platinum, to some degree, may be more important that holding gold just based alone on its scarcity. Currently there is 16.67 times more gold mined than the metal with silver's yearly totals being 100 times greater.

Currently there is so much hot money flying around in markets that opportunities do surface once in awhile with price extremes. If you want to bet on scarcity ruling during the hyperinflationary environment coming then platinum bullion coins may have a place in your investment survival kit.

Platinum is down over 60% from its recent highs and remains oversold in comparison to gold.

Some backs back Mr. Jim Rogers was asked if he would buy platinum when it was trading higher over $2,000 an ounce. His answer was, "I'm not interested in platinum at current levels." What do you think he would say today at $813?
 By bluejay

12/11/2008  9:49PM

Last on gold, after hitting a low tonight of $804 in Asian markets, is $813.60.

The news tonight is the lower US dollar at 83.26. This is significant as it is trading under the weekly established trading range of 84-89. At the same time it is apparent that the Plunge Protection Team(PPT) and the big banks are working over-time at pressuring gold lower in an attempt to effect the dollar to recover some and rally.

It feels like a big push on gold is coming. Two days ago the cartel had one of their stooges attempt to freighten believers in the metal when he put out the story that the IMF would sell 3,000 tons of gold and in the following weeks gold would trade down to $455.

Someone is running scared with their gold and silver short positions. Putting out that type of information spells desperation.
 By bluejay

12/11/2008  1:12PM

The link in a few entries below does not work. You'll have to go to youtube.com directly and search: Federal Reserve Scam - How It Happened And What It Means.
 By bluejay

12/11/2008  12:26PM

Gold is trading lower at $818.40 down from a high today of $830.

The latest data from the World Gold Council shows that demand for coins, bars, and exchange-traded funds (ETFs) doubled in the third quarter to 382 tonnes compared to a year earlier. This matches the entire set of gold auctions by the Bank of England between 1999 and 2002.
 By bluejay

12/11/2008  8:27AM

Last on gold this morning is $829.70.

It appears that all the voodoo magic that the spin doctors have thrown at gold since late July is over for a while.

To learn more on the origin of the spin doctors, or the money mafia, view the link below.

http://www.youtube.com/watch?v=JAcjTqLBuzA&NR=1
 By bluejay

12/10/2008  5:17PM

Last on gold is $803.20.

Tremendous Liquidity Transmutes Into Unprecedented Inflation

Jim Sinclair December 10, 2008 at 4:42 pm

Dear Friends,

I believe through the $2 trillion of fiscal intervention stimulation, a number I hear from the inside, the 8.5 trillion total so far is going to $20 trillion. Before this is all over the tremendous liquidity will transmute into inflation without precedent.

That is what you heard from Gold today.

The general equity rally in the early 30s was a humdinger so expect that rally to occur in the USA.

The only difference is when the monetary cat is let out of the bag by fiscal spending that Fat Cat will not go back into the bag. Gold will be launched into a multi-year phase of the long term bull market even when the equity rally in this bear equity market completes itself.

That encapsulates all you need to know concerning gold and the US dollar.

Respectfully yours,
Jim
 By bluejay

12/09/2008  8:54PM

Gold is pushing higher with a last sale of $779.30. Is this the beginning of the next major upleg?

I've recently been hearing some disturbing speculation concerning the government's plan in the future to enact a special tax on gold bullion profits. The numbers I've heard range from 70% to 90%. Concerning how people generally feel towards oil company profits when gas prices were high, I strongly feel that the majority, who will miss the expected big run up in gold values, will not oppose this new law directed at the minority who had foresight.

The Homeland Security legislation defines gold bullion as being valued at two times the last gold price and below. Could this be for future confiscation purposes?

It's interesting to note that since the US Mint stated that they will no longer be making certain types of gold coins again that some of their past bullion coins have now taken on numismatic premiums.

One such series is the Buffalo half, quarter and one tenth ounce coins which were made just for one year. The last time I checked these coins were selling for a premium in excess of two times gold's price. Many people believe if you are concerned about a coin's integrity then the best way to safely buy it is in a graded state by a reputable grading service.

If you do have an interest in graded gold coins the perfect grading is MS 70. My favorite grading service is PCGS. I believe PCGS has graded over $11 billion worth of coins in their history. Also, these people grade about 100,000 coins a month.

You can search PCGS on the net and learn more concerning their services along with grading levels.

In the the time period ahead I see growing demand for gold coins in the excess value of two times the metal, gold affiliated companies with limited to no debt along with all types of gold specimens.

If the company can extract its highly valued gold specimens I see it significantly impacting our earnings along with improving our general financial health. Once income starts to flow, our valuable properties will support rich dividends to shareholders that have been more than patient over past waning years.

Alf Field recently projected a possible price on gold of $10,000. Mr. Jim Sinclair did not take issue with his projection. If it becomes reality, you don't have to be a rocket scientist to grasp that the value of our share price would exceed $10.

The goof-ball that makes a market on the OTC Pink Sheets shows a last sale of 5 cents for our shares. To illustrate how crazy that valuation is just consider this, a reputable source has estimated the value of the Sixteen to One Mine alone at between $10 to $15 million.

If anyone wonders what would justify such a high price they need only to research the Weimar Republic experience. The parallel to the German War Reparations of Weimar in the early 1920's is the derivatives area today.

There is no avoding the arrival of the hyperinflationary cyclone. All we can do is prepare for it.
 By bluejay

12/08/2008  8:16PM

Gold $771.70
Silver $9.97
Gold/XAU Ratio 8.10
Gold/Silver Ratio 77.38
Crude Oil $43.85
US Dollar 85.87

The consensus is growing among monetary science experts that gold is nearing an important inflection point in which gold will explode higher.

The following is a retrieved section from an article entitled, "The Crisis Goes Forward As Gold Goes Backward" by Darryl Schoon that appeared on Kitco.com today:

"Professor Fekete recently posted his article, Red Alert: Gold Backwardization!!!, in which he alerted readers that for the first time in history the cash price of gold is higher than the nearest futures price, indicating that buyers value the present physical possession of gold more highly than future possession.

Professor Fekete stated that when gold recently moved into backwardization on December 2nd, a historical line had been crossed, a line which signified whether or not the present system could be saved. Now, according to Professor Fekete, with gold in backwardization, it cannot.

While the war between paper money and gold and silver is still being waged, according to Professor Fekete the outcome is no longer in doubt as the present system is now beyond redemption. This has profound implications for the future price of gold and silver and for gold mining shares.

In the last Great Depression, the shares of Homestake Mining, the world’s largest gold mine, went from $4.19 in 1929 to $495 in 1935, paying a $56 dividend that year. In the coming depression, gold and gold mining shares should do just as well—and, after the onset of the depression, just imagine what they will do during hyperinflation.

THE COMING CAPITULATION OF PAPER

Physical gold and silver, whether in hand or in the ground will be the last refuge for the trillions of dollars still invested in paper assets. With an estimated $27 trillion of wealth already lost this year, the day is coming when the last believers in paper assets will finally look to gold and silver to preserve their dwindling wealth.

But when that day comes, those owning monetary metals will not exchange their gold and silver for paper money at any price, i.e. permanent backwardization; and the last believers in paper assets will be stuck with now worthless government issued coupons which previously had passed for money.

The recent historic backwardization of gold is a clear indication that sometime in the future a state of permanent backwardization will occur—and on that day, the world will finally be free from the tyrannical slavery of central bank induced indebtedness."

Freedom, oh freedom
Someday we will be free
Freedom, oh freedom
How sweet that day will be

--------------------------------------

The day will be returning when the western flank of the Sierra Nevada range will be over-run again with gold seekers as the current recession is looking to be headed toward a depression.

A depression is a severe economic downturn. The last depression lasted 10 years in this country with gross domestic product skiding lower for a good part of that time.

Bernanke believes pumping money into the system will be able to avert the expected cataclysm but will it? Bernanke is playing right into the hands of the bankers who require more and more money to be available for their profit schemes. The best consideration for the public would have been to make gold part of bank reserves. Since this day has passed according to Antal Fakete, it will all be downhill now until the OTC derivatives forest fire burns itself out as it continues decimating everything in its path.

People become much poorer during a depression when they are unable to service debt, they are the first to fall. During the early 1930's public debt wasn't anything like it is today.

A time tested method to guarantee your wealth survival in these coming times is to reduce debt or completely eliminate it along with building up your expose to gold. Maintaining your wealth in dollar denominated assets is a long shot to escape the punishing depression ahead that will be accompanied with hyperinflation.

Gold's future is almost upon us following a delay with the last futile stabbing thrust of the ruthless and evil miscreants who are the tunnel visioned purveyors of our paper and ink tender.
 By Rick

12/06/2008  8:18PM

Well, bluejay's writings last year have certainly reflected the truth that is upon us. Remember, "This is it, are you prepared?"

I'll admit, I wasn't. My personal do-over would be to invest in actual gold (not coins).

So, given the way it has played out, I reaaaallly value the input bluejay brings to the forum.
 By bluejay

12/05/2008  7:36PM

Last on gold is $754.30

"It won't matter much if you purchase gold at $750, $800, $850, $900 per ounce, or even higher. All of these prices will be looking extraordinarily cheap in a few months. The price of our pretty yellow metal is about to explode, and it is probably going to soar, eventually, to levels that not even most gold bugs imagine. Comex gold shorts will be playing the price a bit longer, in an attempt to shake out some remaining independent leveraged longs. Once that is finished, however, and it will be finished soon, the price will start to rise very quickly."

The above was written by James Conrad in his concluding paragraph from the article entitled, The Manipulation Of Gold Prices. The complete story can be accessed from the below link that appeared December 04, 2008 at SeekingAlpha.com.

http://seekingalpha.com/article/109210-the-manipulation-of-gold-prices
 By bluejay

12/05/2008  5:50PM

Last on gold is $754.30.

On December 2, 2008, "gold went to backwardation for the first time ever in history."

The below provided link to the article, RED ALERT:GOLD BACKWARDATION!!!was written by Antal Fekete.

Professor Fekete's article ends with his final projection:

If the governments of the great trading nations had really wanted to save the world from a catastrophic collapse of world trade, then they should have opened their mints to gold. Now backwardation has caught up with us and shut down the free flow in the ststem. This will have catastrophic consequences. FEW PEOPLE REALIZE that the shutting down of the gold trade, which is happening, means the shutting down of world trade. This is a financial earthquake measuring ten on the Greenspan scale, with (the) epicenter at the Comex in New York, where the Twin Towers once stood. It is no exaggeration to say that this event will trigger a tsunami wiping out the prosperity of the world."

Prepare Yourselves.

http://www.drschoon.com/articles/AEFRedAlert.pdf
 By bluejay

12/04/2008  10:56PM

Last on gold is $769.30.

The following paragraph is from goldmaps.com:

A streak of gold mines and gold prospecting sites extends from near Montgomery, Alabama to Washington D.C. The gold was placed there when Africa overrode North America about 250 million years ago. North Carolina, South Carolina, Georgia, Virginia and Alabama have many gold mines and prospecting sites. These states were our main source of gold for 45 years before the California gold discovery. In 1837, the US Government established gold coin mints in Georgia and North Carolina, rather than transport the raw gold to the Philadelphia Mint.
 By bluejay

12/04/2008  12:35PM

Gold $767.40 (last $762.00)
Silver $9.56
Gold/XAU Ratio 8.60
Gold/Silver Tatio 80.25
Crude Oil $43.96
US Dollar Index 86.43

Gold is off from the highs of the day at about $783 with a last sale of $768.50. In the past few weeks the gold price has been finding support in the $760 area as well as finding resistance in and about the $782 to $783 zone. This seesawing, hopefully, will resolve itself to the upside.

Most interesting today is the continuing weakness of crude oil. The last on crude currently is just below $44. Gas prices at the pump are at least at three year lows.

Lower crude is obviously benefiting the dollar as well as all net importing countries but for how much longer as it is way over-sold? If a guess were made on when bottom hits, a fair estimate would be the $40 to $42 zone. It is suspected that all oil related products should bottom along with crude.

Gold has done well against a background of lower oil prices recently being aided by a suspected major buyer, China. It seems that the paper derivatives market is playing right into the hands of Chinese interests to significantly increase their official gold reserves thanks to the artificial pressure on it being supplied by JP Morgan and their croud.

The JP Morgan interests are the main reason why crude has dropped so much creating red faces in the oil exporting nations, especially Russia. Morgan seems to control gold, silver, oil and interest rate futures by manipulating the unregulated paper derivative markets representing these products.

How much longer they can continue pushing the horse by an artificially propelled cart is anyone's guess. Is there any wonder why investment banks and regular banks had their boys like Rubin and Greenspan push so hard against regulating derivatives?

It is absolutely amazing and shameful how paper products can influence the prices of hard assets and overwhelm those markets to scare and steal from unsuspecting investors. For simplicity purposes, it is considered that naked short selling is also a another paper product.

This subject brings back memories of Brooksley Born's efforts as the then head of the Commodities Futures Trading Commission in 1987 to inforce regulation of derivatives through the power that was given to the Commission by the Commodities Exchange Act of 1974.

It was Ms. Borns contention along with their attorneys that the Act granted the Commission jurisdiction over all instruments with risk management functions. In 1998 Borns went head to head with Alan Greenspan during Congressional hearings on this matter and lost. Or should it be stated, the American people lost as it is now quite evident today?

Today the OTC derivatives market between banks and broker dealers is overseen by the federal banking agencies and the SEC, respectively.

Below is a link to a recent Richard Russell article discussing the value and viability of fiat money.

http://www.321gold.com/editorials/russell/russell120308.html
 By bluejay

11/22/2008  8:22PM

The following excerpt was extracted from a speech given by Antal Fekete to the Economic Club of San Francisco on November 4, 2008 entitled, "Revionist Theory Of Depressions."

Access to the outstanding speech concerning truth and markets can be made via his website at: http://www.professorfekete.com/

"Economic historians give credit to Franklin Delano Roosevelt for meeting the banking crisis head on. Only a few days after he was inagurated as president in March, 1933, he declared a bank holiday and ordered all the people under jurisdiction of the United States to surrender their gold coins.

Although Roosevelt promised to return the gold after the banking crisis had subsided, this promise was apparently made in bad faith. No sooner had he confiscated the gold than he marked up its value, leaving people with paper worth 56% less. This neat piece of presidential chincanery was called "Devaluation Of The Dollar In The National Interest."

Everyone should print out Professor Fakete's speech, read it slowly a few times or so until you understand what our educational system saw fit not to teach us as opposed to what they taught us to our discredit.

Three more saving institutions went belly-up on Friday as the financial meltdown picks up steam. Heaven help us all.
 By bluejay

11/22/2008  11:44AM

Last Friday's close on gold was $801.60 up $57.00.

Mint Suspends Orders Amid Rush To Buy Gold.

http://www.theaustralian.news.com.au/business/story/0,28124,24687337-643,00.html
 By bluejay

11/21/2008  5:24PM

Last on gold is $801.60.

Posted: Nov 21 2008 By: Jim Sinclair Post Edited: November 21, 2008 at 5:36 pm

Filed under: In The News

Jim Sinclair’s Commentary

There is one inviting conclusion out there. There is no way to know for sure which banks are broke, so it is better to consider they all are.

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