April 18, 2021 

Gold Enters Major Bull Market


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 By bluejay

05/12/2007  5:11PM


Gold closed at $670.10 Friday, not $679.10
 By bluejay

05/12/2007  5:08PM

Gold $679.10
Silver $13.20
Gold/Silver Ratio 50.77

The gold market is wound up fairly tight with buyers and sellers flexing their muscles as each side approaches the other's lines of defense. The key element in this market is resistance in the 690-700 zone and evolving support in the 660-665 area. Gold's celebrated $15 weakness on Thursday couldn't carry through into the next day as buyers found gold attractive near the 665 area and bid it higher, closing the precious metal at 670.10 for the day.

What has gone generally unnoticed is gold is establishing a growing firm footing on the chart in the 660-665 area. According to Blanchard $ Company there has been massive European central bank sales recently. Gold has stood firm in this area for the past three weeks. The probabilities are increasing that gold will soon mount the 700 area.
 By bluejay

05/10/2007  10:42PM

Gold $667.50
Silver $13.01
Gold/Silver Ratio 51.31

Gold got spanked pretty good today, selling off $15 in New York while closing at about $665. Comments at the Barrick Gold annual meeting on May 2nd propelled gold upwards to hit about $690 three days later. Since Tuesday, it's all been all downhill.

This declining phase has all the earmarks of your friendly little miscreants at work again. If they are going to take gold down farther then you should be buying the metal in earnest, not being scared into selling it.

These people aim to freighten you and drive you out of your gold coins and gold stocks. It is certain that some people have given in already. Free markets in this country are a thing of the past.

Don't let the miscreants use their controlled markets to blind you to the truth. James Sinclair is the most successful gold investor in the world and he says gold is going to $1650 and that's all you need for courage as these market bandits attempt to steal from you.
 By bluejay

04/17/2007  8:59PM

Gold $688.10
Silver $13.97
Gold/Silver Index 49.26


Half of your allotment should be in gold coins while taking delivery and the remaining balance should be mostly in Royal Gold(RGLD-OTC) with some scattered purchases of gold and other metal exploration companies.

Paul Van Eden is the expert for recommending exploration companies. He publishes a letter which is expensive. I believe two of his past recommendations were Miranda Gold and Lara Exploration Ltd. I do not know their current status as I am not a subscriber.
 By Rick

04/17/2007  10:04AM

Bluejay, thanks for the words regarding my entry titled OUTRAGEOUS, now moved into the Court of Appeals topic.

Next, regarding gold stocks. I realize you may not be in a position to do so, but I am currently re-allocating my portfolio in the market and want to include gold/mining related stocks or mutual funds, and hope for your input. What can you recommend, if not specific stocks, a good resource for comparison?
 By bluejay

04/16/2007  6:14PM

Gold $688.40
Silver $14.05
Gold/Silver Ratio 49.01

GFMS Ltd. in London reports the following:

Global mine production cash costs increased in 2006 by 17%. This is twice the increase compared to 2005.

In North America cash costs did far worse. In the U.S. they were up 29% while Canada's were higher by 26%.

Global gold output was down by just over 3% to 2471.1 tons as compared to the production in 2005 of 2550.1 tons.

Peak gold production in the last ten years was 2645.0 tons recorded in 2001.
 By bluejay

04/16/2007  1:09PM

Gold $690.70
Silver $14.02
Gold/Silver Index 49.27

Gold hit a high today of $696.10 and is currently in the process of catching its breathe.

From AMEInfo.com, Dubai
Sunday, April 15, 2007

"Recommending gold stocks, Dubai's AMEInfo cites GATA"

The following are excerpts from this article:

"Gold is the only true currency and fiat paper currencies like the US dollar devalue against this store of value in times of inflation. But there is a tipping point point at which the gradual shift away from the US dollar will become a rout as holders of the US currency seek an alternative.

...$3,000 an ounce

Then gold will start a rapid ascent in value, back towards an inflation-adjusted, all-time high of around $3,000. Supporters of GATA pressure group maintain that it is only the central bank collusion that keeps gold prices low, and that collusion is breaking down with even the IMF now actively canvassing rule changes to make a more transparent market.

...Golden juniors

Also junior mining and exploration companies with claims may find that their modest assets suddenly zoom up in value as producers seek new sources of gold and bid up their value.

This is where the hundred-fold increases will be found in the next gold boom, as in the late 1970's, although the metal itself and the bigger companies will provide very large rewards at a time when other asset classes may struggle to deliver returns.
 By bluejay

04/15/2007  9:31PM

Gold $685.40
Silver $14.03
Gold/Silver Index 48.85

It was reported on April 14, 2007 by Dow Jones that, "Japan's finance minister said Saturday he had proposed to the International Monetary Funds's policy-steering body that the fund sell its gold reserves to cover falling income." As of last year, the IMF said it held 103.4 million ounces of gold.

"Japan has told(the committee): "Why not sell gold?"

"Omi's proposal is in line with Japan's long-held stance as well as recommendations made earlier this year by a high-level panel at the IMF. In late January, the panel, chaired by Andrew Crockett, president of JPMorgan Chase & Co.(JPM), urged the fund to sell some of its vast gold reserves and invest the proceeds to raise money."

1- The action of gold is indicating that the Japanese Yen is a short sale.

2- JPMorgan Chase is a bullion bank which is short gold and is also a commercial bank whose financial health will always look good when gold is low.

Both their philosophies are the same: kill gold, the messenger, if you don't like the news. The news today is that gold is very strong at $685.40.

Japan's currency as measured against gold is in the dumpster and the Dollar is starting to slip off a cliff compared to gold. Sorry boys, you only have yourselves to blame. Attempting to kill the teacher won't change your grades.

The London Sunday Times today is reminding its readers that Gordon Brown has cost the English people two billion pounds following his gold sales campaign for the Treasury between 1999 and 2002.

The Times' report on Gordon lists many comical reasons given by the Treasury saying why Gordon did no wrong. Oh I forgot, Gordon is their boss.

Gold's current push in here has a lot of people worried and it appears that the miscreants have started a new campaign to discredit gold.

This is an old trick that has been used in markets since the beginning. If you want a commodity, stock, currency or in this case gold to go down, then start your attack in the media.

The hedge funds continue to short the gold stocks probably with naked shorts. Why not? The SEC doesn't care. Oh I forgot, the SEC is a member of the Exchange Stabilization Fund that has no interest in seeing a higher gold price.

There is no question that a good portion of the attack against gold has been all this naked shorting of gold stocks by the hedge funds in an attempt to quiet the public interest as they are related to the metal.

Don't be a victim of the tricks that these miscreants are throwing our way. Sit tight and enjoy the ride to offset inflation and take some profits along the way!
 By bluejay

04/11/2007  10:37AM

Gold $676.70
Silver $13.78
Gold/Silver Index 49.11

The following is a list of metals with their five year performances:

Nickel + 792%

Zinc + 489%

Copper + 482%

Lead + 394%

Silver + 198%

Aluminum+ 113%

Gold + 111%

Over the same five year period:

Dow Jones Industrial Averages + 74%

Philadelphia Gold % Silver Index + 158%

Assuming a loss in purchasing power of 10% per year over the past five years, all the percentage gains of the above should be reduced 50% to reflect this subjective estimate for the real rate of inflation.

Unfortunately, the inflation estimates have to be made because the government skews the numbers with their CPI.

The five year trends in the metals are well established and will continue as our money supply continues to expand.

The Dow Jones Industrial stocks are the worst performer of this group. Sadly, the biggest loser of all is having your excess funds in government bonds or in the banks where you are losing part of your wealth as a result of the inflation factor.

Is there any wonder why the government doesn't want the price of gold to seek its natural levels?

If gold were to be higher there would be more questions about: What is happening to our money? Remember, gold is the inflation report card. The government is playing a dangerous game in trying to control a bull market in gold.

If the bull gets loose the Exchange Stabilization boys will have to account for the country's gold or go to jail.
 By bluejay

04/04/2007  8:11PM

Gold $672.80
Silver $13.53
Gold/Silver Index 49.73

The following are comments
made today by Mr. Gold, Jim Sinclair at 4:47:00 PM EST.

"Even I am shocked at the strength of gold today. You probably never thought you would hear that from me."

"The first move up was from the belief that Iran was going to hold and try the captives, but after Iran said they were free to go, gold ran right back up to the high and held it."

"That is outrageous strength. I have not seen anything like this since 1979."(In 1979 gold advanced from $250 to nearly $900 in January of 1980.)

There is no one that has bettered Mr. Sinclair's track record concerning his opinions and predictions of gold. His long standing prediction is that gold will trade at $1,650.

Jim is a true patriot for offering his many years of market experience free of charge for those interested in "seeking the truth" at http://www.jsmineset.com.
 By bluejay

04/02/2007  6:29PM

Gold $665.40
Silver $13.30
Gold/Silver Index 50.03

Gold is the ultimate report card.

The price that gold reports in each country's related currency is the type of job government officials are performing in their perspective financial responsibilities, both domestically and internationally.

When governments don't like their grades they attack the gold market by forcing it lower with all their little schemes. It is as simple as that.

One of their schemes is practiced on the COMEX where these people sell contracts through their hired hands for future delivery that don't require settlement in gold. They just roll them over to the next trading month cycle or settle the difference in cash for any amount due. In London where they don't really operate, all consummated sell sides have to be settled with the delivery of physical gold.

Another scheme to depress interest in gold in this country is by giving the hedge funds a free hand at selling gold shares that they don't own or that they can't borrow. This scheme is meant to drive people crazy as their stocks don't act well against a higher gold price. This kind of manipulation only works during the short term.

The Securities and Exchange Commission does not put pressure on the hedge funds to deliver physical shares like you and I would be required to do. They seem to have an understanding with them. Remember, the Securities & Exchange Commission is a member of the Exchange Stabilization Fund which was created in 1987.

These sold shares by the hedge funds circulate as "failure to deliver(FTD's)" shares. Who knows, maybe you have bought some of these FTD's and although your brokerage statement says that you have the stock in your account, they maybe only FTD's. Who really knows, as they are not specified. FTD's are basically betting vouchers, or so called promises to deliver and they are not physical stock.

These paper instruments, futures and FTD's, are controlling the prices of real assets. Specifically gold, and to a lesser degree, silver.

These "paper tiger" schemes only display weakness and desperation on the part of the western central bankers who sense the emergence of gold as the supreme world currency. The days of seriously suppressing gold's price by selling physical gold to a large degree ended with the demise of the London Gold Pool and later in 1971 when president Nixon closed the gold window.

Thanks to a new scheme when Barrick Gold was directly involved with these bankers they invented a new way to depress gold's price in or about 1980. The bankers would lend gold to Barrick to sell in the open market. The bone given to Barrick was enough inside information concerning their ultimate goal that Peter Monk joined into selling with them in earnest.

In fact, Barrick sold in the process more gold for future delivery than they had gold reserves in the ground. Barrick was a commodities trading house then not really a miner. Prior to the creation of American Barrick, now Barrick Gold, Barrick's Monk had no practical experience in the mining industry. Greedy over indulgence cost many in the gold industry along with their shareholders untold millions of dollars.

Many years ago when Monk was a college student during the Christmas season he reamed some Christmas shoppers as well. He specialized in arbitrage, hopping around like a human sized African jerboa with Christmas trees on his back buying from one mall lot and selling to another mall lot for a profit.

Barrick continues to be short gold from their earlier gold bashing days of the 80's and 90's.

Respect goes out to the corporate officers of Nova Gold for telling Barrick to stick it when they tried to take over the company.

Any weakness in gold's price should continue to be viewed as a buying opportunity. The best is yet to come!

Miscreants, your days are coming too. What is your exit plan? Oh I forgot, you guys think you are in control. Your exit plan will be one of the fastest short covering rallies in history, both in the metal and in the gold shares.

The other side of gold is the U.S. Dollar Index. These miscreants are going to find it impossible to contain gold's strength when the Dollar takes its expected swan dive.
 By bluejay

03/23/2007  1:06PM

Gold $656.20
Silver $13.13
Gold/Silver Index 49.98

Bloomberg has presented a shocking 25 minute presentation entitled "Phamtom Shares" that everyone holding stocks needs to view.

The easiest way to access this YouTube video is to google search Bloomberg Phantom Shares.

Every December Wall Street firms brag about the bonuses that are handed out to their employees. Now we know where the money comes from: It comes from investor's pockets.

The policeman on Wall Street is the Securities and Exchange Commission(SEC). After viewing the video, the only conclusion that can be made is:

The SEC thinks greed and stealing is good which is amply demonstrated by their inaction to control and prosecute trading abuses conducted by Wall Street manipulators.

What ever happened to: For the people and by the people?
 By bluejay

03/20/2007  9:01PM

Gold $659.00
Silver $13.28
Gold/Silver Index 49.62

Why are the precious metal stocks underwater as gold continues higher in its well established bull market?

There have been many entries in this section concerning suspected manipulation of gold and the gold stocks. The finger has been regularly pointed at the bullion banks, the Exchange Stabilization Fund and the hedge fund boys.

Tonight on the jsmineset.com website there is a current video interview of Jim Cramer the host of CNBS's "Mad Money" where he admits price manipulation by the hedge funds. This could be one source that has manipulated gold stocks lower way out of character compared to past trading norms against gold's price.

The point is, sadly, that the whole stock market must be a rigged event. What chances do well meaning investors have using their life savings against a group that clearly has one greedy motive: big salaries and big bonuses at any cost?

Jim Cramer basically said that the SEC can't figure out what the hedge funds are doing.

It clearly appears that the SEC is not doing their market surveillance job. Is the SEC just looking the other way for the benefit of the hedge funds as well meaning stockholders of precious metal shares get reamed by them?

It's a cruel world when gold company shareholders get fried when their main reason for being in this group in the first place is to protect their family's wealth against monetary inflation.

As a point of interest: The Federal Reserve has tripled our money supply since 1990 and is printing more money faster today as a result of the failing subprime loan market.

Check out the video tonight at jsmineset.com.
 By bluejay

03/14/2007  12:31PM

Gold $641.50
Silver $12.73
Gold/Silver Ratio 50.39

The suppression of gold's price continues as the miscreants run scared.

The FED is now obviously concerned with the possibility of a melt down in the OTC interest sensitive derivatives market.

As Jim Sinclair said this morning, "This situation is serious as the first flame of a financial melt down is getting closer to the fuse of the interest sensitive over the counter derivatives. A flop in those OTC derivatives would be devastating to the international financial community so it is reasonable to assume it will not occur, at least here and now. In order to prevent such a situation that would act as a vacuum on liquidity, the Federal Reserve must act to add liquidity to an already brimming over the top world liquidity situation."

"Since this is super bearish for the U.S. dollar, it is super bullish for gold."

Gold's price manipulation starts with the bullion banks on orders and is continued by the hedge fund boys.

It's not too difficult to see how the primary miscreants operate: Selling is usually exerted on gold near the close of the N.Y. COMEX trading session and into the N.Y. Access Market where trading is usually thin. Just before N.Y. trading begins, London's gold market usually weakens. If gold strengthens following early morning weakness in N.Y. it is hit again.

These miscreants take gold down hard making price with no thoughts of getting a better price like you and I would. They just bang away at it to please their handlers.

The main group that operates in total secrecy is the Exchange Stabilization Fund which is accountable only to the president. Concerning gold, this clandestine group should be called the Exchange Destabilization Fund.

History has taught us that these shenanigans only work for a short period of time. Gold's current weakness is just another buying opportunity in the march to much higher prices for the metal. Don't be fooled by these tricksters.
 By bluejay

03/04/2007  9:58PM

Gold $640.60
Silver $12.73
Gold/Silver Ratio 50.32

The ordered hit on gold Wednesday was a direct result of the stock market being off nearly 546 points at one time on Tuesday.

Sid Reynolds in an entry on FN Arena in August of 2006 said:

"The U.S. government's motive for covert gold sales is firstly to keep interest rates low by deceiving bond markets about actual inflation levels. This sets in track the effect of lower gold price = lower inflation = lower bond price = higher stock market."

That's it in a nutshell.
 By Michael Miller

02/28/2007  9:13AM

Comment regarding: Bluejay entry below.

A few months before the Homestake shareholder meeting, when the shareholders voted to merge with Barrick, Jack Thompson, Homestake number one officer, and Walter, the president, came to Alleghany for a tour of the Sixteen to One. We had a good time and when we got underground at the Ballroom, we were safely alone and no one could have heard our conversations. I asked him some private questions. One was about the English dumping gold always at low prices (Bluejay’s entry is not the first time the Brits have unloaded at the bottom). Jack was on some international committee or board where he should have first hand information about the banking people. He said he did not see any conspiracies but just plain old stupidity. He could be right or he could be naive. My outside view of the international gold and anti gold folks is based on thirty plus years of reading history and living the consequences of their behaviors. My conclusion is: gold players do conspire; gold players are stupid; gold players are some of the most sophisticated businessmen and some are also very naive. Greed, fear and power rule the game as has done throughout history. Some are purely self-serving and some have higher goals but use fear and greed to gain or hold on to power. I hope Bluejay is right with his predictions of wide swings in the relationship of currencies and gold. Who continues to say that gold is a dinosaur and no longer a factor in international trade? Do you believe them?
 By bluejay

02/28/2007  8:32AM

Gold $667.70
Silver $14.04
Gold/Silver Index

Riding the Bucking Bronco!

Yesterday gold hit a daily high of 686 only to be smacked to 659, then it rallied in the early morning hours to 677 and now it's getting stomped on again at 667.70. Yahoo!

The killing zone of the Philadelphia Gold & Silver Index(XAU) at the 150 area has lived up to reputation by influencing the XAU lower where it hit near 136 earlier. These shares are currently on the bargain table.

The not so good news for the faint of heart is that these price gyrations will only be expanding. Are you ready for moves up and down in the same day for gold of 100 to 200 points? Well, those days are coming, so fasten your seat belt!

All this price weakness is being brought to you by the miscreants of darkness with a smile on their face. These guys are the same group that got one of their buddies, the head of England's central bank, the infamous metal's price predictor Gordon Brown, to sell nearly 400 tons of England's gold during the period from 1999 to 2002 at $275 an ounce. At the time, even the dense central bank for the Euro said, "gold was a bad investment."

What did Gordon do with the receipts from his gold sales? He invested in three currencies: The Euro, the Dollar and the Yen. Not only did Gordon miss the move in gold for the English people but he had only a tiny gain in the Euro, a moderate loss in the Dollar and a much bigger loss in the Yen. Way to go Gordon! Another miscreant bites the dust. Yahoo!

These central bankers will be in the market buying gold along with the public in months ahead at 100's of dollars higher. These central bankers are a pinheaded group investing in each others currencies while they all depreciate against gold.
 By bluejay

02/25/2007  11:55PM

Gold $685.30
Silver $14.61
Gold/Silver Ratio 46.91

Prediction of probability:

The gold price is capable of hitting $880 in August of this year.

The prognosis is based upon subjective interpretation of gold's weekly chart patterns for the last two years.

An important intermediate reversal in gold has taken place to the upside following a significant breakout above the $650 level.

Along the way expect some fast price reactions to the downside. This is to be expected as the anti-gold camp becomes nervous and desperate with the intermediate rally. For sure, they will be fighting gold's strength tooth and nail with all their available resources.
 By bluejay

02/23/2007  1:23PM

Gold $682.90
Silver $14.49
Gold/Silver Ratio 47.13

Attempting to reason out the relationship of gold stocks to the price of gold can be frustrating. The constant set of changing variables for each gold producing, development or exploration company can be a real challenge for investors.

What investors and prospective investors don't need is the meddling in the share prices of these companies by the Dark Empire. The Dark Empire is a secret association of bullion banks acting in the interests of their handlers, the people who control your currency. You know who they are. The bullion banks are usually the Wall Street firms that get to sell all the new Treasury issues for the government. Get the picture, one hand washes the other.

It was mentioned on February 6, 2007 that there was short selling pressure being exerted on gold shares in the 139 to 142 area on the chart of the Philadelphia Gold & Silver Index(XAU). It was suspected at the time it was the work of the anti-gold community, the Dark Empire.

Gold is higher today and the group is back at work selling the shares short again. It's fairly easy to imagine the conversations coming from their clandestine control stations. Their ally in selling the shares is the formidable resistance on the Index in the vicinity of the 150 area which has choked off intermediate term advances for some time. This area has been the bear's killing zone for the past 20 years.

Today, the high on the XAU was 148.11 with a low and last of 145.68. Unless the gold price starts to tank very soon, these unscrupulous operators are destined to have their worst nightmare come true, a violent short squeeze. This squeeze could easily take the Index 20% higher, above and beyond major resistance. This event will be monumental in presenting to gold share owners the best of all worlds for profits in the years ahead.

It would not be surprising for the timing of this foreseen event to take place without any help from gold.

It is important for investors to understand what makes markets tick. It is not always about what you think it is.
 By bluejay

02/19/2007  2:11PM

Gold $670.80
Silver $13.98

Gold appears to have established itself above resistance at the $650 area. This action indicates that gold's resting period is over and we can look forward to intermediate strength.

Today I read a short article concerning GoldCorp selling off some of their smaller gold operations in Australia and in South America. It looks likes GoldCorp may be getting ready to do a deal soon for additional superior reserves.

In an article today by Grant Smith out of London for Bloomberg he states, "Gold producers are rushing to boost supply because mines are being depleted at a faster rate than discovery of reserves."

I remember reading somewhere that in the past 10 years there have not been any new major deposits of gold discovered. I believe the category for a deposit to be classified as a major discovery that it has to be of at least three millions ounces.

According to Dr. Chaize from France there are only 77,000 tons of gold left to be mined in the world today. If it took 103 years from 1900 to 2003 to mine 121,546 tons of gold, how many more years of gold mining remain with only 77,000 tons left?

Another way to put it is to ask the question, what percentage of gold has been mined over earth's history and what percentage remains? One certain statement can be made; the great majority of earth's gold has already been removed from the ground. Do you have yours?

In the future a person's wealth will be judged by the amount of ounces of gold that each owns. Our country has a lot of catching up to do with the general population of India where this is the case.

As China's populace continues the trend of becoming richer, based on international standards, you can bet they'll be buying their ounces too.

In the future, if you don't have some of your wealth in gold coins or bullion or a gold company or two your goose will be cooked when the real truth about fiat currencies is understood by all.

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