April 18, 2021 

Gold Enters Major Bull Market


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 By bluejay

04/25/2013  8:37AM

Governments are run mostly by lawyers who don't know much of what the common folk really need. That's because they're always taking care of themselves first. The old age politicians are on their way out and there is hope back in my mind again for reform led by the young who refuse to take their bullshit.
 By fredmcain

04/23/2013  5:56AM

Blue Jay,

Thanks for making me aware of companies like Sutter and Barrick Gold 'cause they are companies that I didn't even realize existed!

Investing in the Dominican Republic could be very, very risky indeed but surely not nearly as risky as investing in California!!!! Ha, ha, ha, ha, there I go again! Please forgive my cynicism, I'm only joking anyways.

However, I am really angry and frustrated over that EmGold thing. It just seems so wrong that a bunch of county and state regulators could stymie a wonderful, worthwhile project like the Idaho-Maryland Mine and in turn perhaps help sink a good company at the same time. I can't help but wonder if the regulators want the project killed because it might not have been consistent with their own political agenda, whatever that may be.

So, with this kind of stuff going on, why would anyone want to put money into any California mining venture? Well, the Original Sixteen To One Mine might be an exception. What I believe makes it exceptional is the enthusiasm of the Company's President. His enthusiasm just plain rubbed off on me a bit.

I hope this isn't getting too controversial again, but let’s take a quick look at another project going on in California: The high-speed rail line. This project faced so many environmental hurdles that special legislation has been passed to allow the project to side-step or waive some of the environmental requirements. Or at least that is my understanding. Hmmmmm. That is most interesting, isn’t it? If they can do that for this project, why not do it for the State’s underground mines as well? Is that fair?

Another thought I had, what is this new rail line going to be made out of? Where are they going to get all the steel to build it with? Where will they get the aluminum to build the car bodies with or the copper for all the control wires? What about the myriad of mind-boggling computer and high-tech related stuff that requires rare earth metals? Where are they gonna get all that stuff from? Well, that’d be from MINES wouldn’t it? I see a bitter irony here.

Many of the people in California – and their politicians – have come to recognize that some of the environmental regulations put in place were not consistent with their desire to see a high-speed rail line built. The perceived need for a high-speed line trumped the perceived need for these regulations, didn’t it?

Personally, I see mining the same way. Gold mining is an important part of California’s history that goes way back – almost 200 years now. I would personally like to see the mines protected and promoted with the same enthusiasm that we have shown toward protecting and promoting the redwoods. Why not? We could preserve history and provide jobs all at one time. Perhaps someday a new generation will come up that will see things a little bit different than many of us do today and will recognize this need.

Hope springs eternal.


Fred M. Cain
 By bluejay

04/22/2013  11:39PM

Owner told by a Swiss bank that he can't have his gold in an allocated gold bank bt the central bank.

The following is an interview between King World News and Jim Sinclair:

“They told him the amount was in excess of 200,000 Swiss francs and the central bank had instructed them not to do it because it has to do with anti-terrorism and anti-money laundering precautions.

I really wonder whether those are precautions or whether the gold simply isn’t there. Now you tell me that a London delivery has basically failed. It has to raise our suspicions that the lack of physical gold behind the paper gold is literally so severe that we are coming to understand that it is in fact not there.

"The gold that people think is stored is not stored, and the inventory of the warehouses for exchanges may not be holding deliverable gold. There has always been speculation about whether or not the physical gold the US claims to store is in fact in those vaults.

The greatest train robbery in history might be all of the gold, and it would only be something like we have described above that would happen right before gold makes historic highs.

There simply is no gold behind the paper. One example is AMRO, a second is your example with Maguire, and a third is my dear friend who was refused his gold on the basis that its value was too high. Remember this friend of mine had his gold in an allocated account in storage at a major Swiss bank. I repeat, there is no gold.”

Eric King: “Jim, when I listen to what you are saying, to what Maguire is saying, it really does tell me we are at the end game in terms of the paper market. It’s collapsing right now as you have been warning.”

Sinclair: “The vicious and blatant manipulation of the gold price (lower) via paper, on Friday and on Monday, may very well be the biggest mistake that the manipulators ever conceived of. I firmly believe it revealed that the price of gold has nothing to do with gold itself.

But I would add that if in fact the physical demand remains at these levels or even increases as the price of gold rises, I believe that the warehouses for the exchanges will be so significantly drawn down that it will force cash settlement.

The bottom line here is the paper market for gold may have just lit itself on fire, and served to burn the manipulators’ houses to the ground. You’ve heard of the phrase, ‘The emperor has no clothes.’ Well, this is infinitely worse because it is finally being revealed that the paper market for gold, in fact, has no gold.”
 By bluejay

04/22/2013  9:19AM


Investing in foreign countries comes with risk.

Authorities in the Dominican Republic are now demanding a large piece of Barrick Gold's Pueblo Viejo joint venture.
 By bluejay

04/19/2013  8:36PM


Mike is more qualified to respond to mining in California than me. As far as your comments are concerned, this is a public Forum and all entries are entitled to their opinions and the folks here respect that right. Hopefully, in the process we learn from others and look at other's perspectives
with an open mind.

Everyone here, I suspect, pretty much agrees with your take of things. I had intended tonight to pass on some valuable thoughts from Martin Armstrong that I just recently read tonight but addressed you first.

Folks, I think we need to prepare ourselves. It appears the Grim Reaper may Satanize the gold market in the coming weeks. My advice is to hang on and put in some stink bids below the market for some gold and silver related items.

"We elected Weekly Bearish Reversals in both metals with gold closing at 1397.2 and (silver)2304.1. Gold closed also just below the Weekly Break line 1398.6. This is warning that the FAILURE to exceed Friday’s 4/19 high intraday, and a penetration of 1310, we are looking at a drop to 1158. Breach that, and we very well may see 907 in 2 weeks.

The gold promoters instead of $30,000 and now out in force desperately trying to suck people in claiming the new target is now $50,000. This is insane. This type of break could be monumental. We now must watch for new lows next week will point to a collapse into the follow week.

This is just amazing".
 By fredmcain

04/19/2013  5:34AM

Blue Jay,

Interesting points but I guess I don’t understand why $1,300 an ounce gold – or even $1,000 – would threaten the mining and exploration industry. I mean, the Empire and the Idaho-Maryland mines were selling gold for $35 an ounce when they shut down in the 1950’s. Even if we were to take 50+ years of inflation into consideration here, that’s still one heck of a run-up.

Do you think there might be a chance that something else is killing this industry? What are all the federal, state and local regulations and ordinances doing to the industry? What about all the environmental lawsuits? It seems to me like if a mining company wants to be profitable and stay in business, they go to Africa, Brazil, Polynesia or some other foreign country to mine. *AND* they especially avoid California like the plague. I’m afraid that EmGold is getting ready to deep-six their plans to reopen the Idaho-Maryland and concentrate on operations in Nevada and other states instead. What I’m reading into this is that they are just about through with California’s laws and regulations and environment lawsuits.

Last week, the Wall Street Journal ran a photograph and article of the demolition of the old ASARCO smelter in El Paso, TX. The picture showed the smelter’s old stack crashing down in a cloud of dust and smoke. Environmentalists hailed this as a major victory. Was it? Was it really? I saw something else in the picture: The image of a once-mighty industrial super power crashing down to a pathetic conclusion.
I sure hope that my postings aren’t getting too controversial here. If so, please let me know off list. I don’t think all environmentalists are necessarily bad, either. I still consider myself an environmentalist of sorts but I do believe we need to lighten up a bit or something.

As far as the Original Sixteen To One Mine is concerned, obviously if I didn't believe it had a future, I wouldn't be buying shares in it. It’s just that I also believe its future would be much, much brighter if the regulation noose around its neck were loosened a little bit. I believe that we would all be better off. It would be a wonderful dream to see abandoned mines all over the West reopen and providing jobs and a big boost to their local economies. What a great way to get our economy going again!

Fred M. Cain
 By bluejay

04/18/2013  4:53PM


Until the banks start lending, it's going to be more delation. They are too busy using the money for trading markets. A far cry from what most people think they are doing with their deposits. The banks will again run into trouble and sadly, the depositors will be bailing them out next time.

Gold is taking a deak-cat bounce towards the $1400 level. Until that level gets bettered, $1310 should eventually be challenged. I checked some of the coin dealers recently and their inventories are running low.

If and when $1300 gets reached or falls the money available for exploration companies will all but dry up. It is foreseen many of these companies on the Vancouver Venture Index will just cease to exist.

Th 16-1 is quite different than these as when high grade is located and removed it will be sold for many times the Comex price of gold as it is gem gold and very rare. I have many pieces of 16-1 gem gold and I don't lose a moments sleep over the collection because of its rarity.

The same to be said over high graded Mexican silver and gold coins. Very few of these coins graded in top-notch condition and most of the gold ones have been removed from the market, probably, never to be seen again.

If you ever get to visit the mine and the Alleghany Mining District don't be fooled by the way things look, I'll guarantee you that their are treasures yet to be found of high grade specimens that will always command multiples of the current gold price. As history has proven over and over again, it's just a matter of time before the next high grade lode is discovered which will be worth in the millions and millions of dollars.

It's just a matter of time.

Adios from Cabo San Lucas
 By fredmcain

04/15/2013  9:29AM

Blue Jay,

You have some interesting theories there. Since I’m new here, I guess I don’t know that much about gold but I’m learning. However, here’s one thing that I have been hearing for several years now:

Sooner or later, our government’s zero-interest rate policy is going to make inflation take off and go ballistic. They figure they can tighten once they see early evidence of inflation but history has shown "it don’t work that way". Once inflation starts to take off it can be darn near impossible to stop.

I received an investment letter in the mail the other day from a guy who is predicting $5,000+ an once gold by 2030!

Right now the stocks of many hard rock mining companies are falling precipitously in response to the gold sell off. GREAT! What a wonderful and possibly once-in-a-lifetime buying opportunity! I am looking at GoldCorp., Newmont Mining and adding to my Hecla position. And, of course, it goes without saying that I want to add to my position in the Original Sixteen To One Mine as well!

Fred M. Cain
 By bluejay

04/15/2013  6:58AM

Gold $1417.90 OFF $59.10
Silver $24.01 OFF $1.81

What we are witnessing in the current selloff is no more than a paper scam affecting, supposedly, the physical market. Just a few days ago paper gold representing 500 tons of the metal was transacted on Comex. Little, if any, real gold will ever change hands based from this volume. For investors like us, just try and buy large amounts of the physical and have it delivered, it just ain't there.

The severe decline is not representative of physical gold. As long as officials let the paper market be representative of real physical gold then the illusion of these prices will be viewed as real gold trades by the uninformed.

Gold is still in a major bull market well above its 5000 day moving average. Sure some moving averages have broken but not the grandaddy of them all, the 5000 day. It is the opinion here that the makings of this sharp down spike will be viewed as the greatest leveraged buying opportunity in any market since Gordon Brown dumped most of England's gold back in 2001.

Currently, there is a stampede of frightened people in this market and prices could slip to about $1100 or so. The smart thing to do is exit the banking system as best is possible while increasing your hoard of gold and silver on a scale down basis for as long as this weakness persists.
 By fredmcain

04/10/2013  4:55AM


That truly is amazing! Gold has fascinated people and motivated investors for millennia. However, I guess what I’d like to know is how expensive does gold have to get in order for us to attract investors and be able to expand the mine to new depths and dig new drifts.

According to the California State Parks Dept. website, the Empire Mine has a staggering 367 miles of drifts and winzes. To me that is absolutely mind boggling. I mean, geeze! That is bigger than the entire New York City subway system! What a terrible, terrible shame and tragedy that they are all flooded with water! Following a visit to Empire Mine’s museum in the 1980’s (I was bitterly disappointed that there was no underground tour), we later retired to a nearby restaurant where I overheard two old-timers talking who said that "there is an awful lot of gold left in there – it's just not profitable to take it out". Hmmmmn. Do you suppose that is true?

Anyways, if there is a similar deposit at Alleghany, then that means at 30 miles of drifts and winzes, we have just barely managed to scratch the surface. What will it take to expand the mine? Is it practical to do that?

You know, it is hard for me to fathom how in the world people could put their entire life’s savings or even mortgage their homes and put the money into the very latest and "sexiest" high-flying technology stock but be completely oblivious and uninterested in a mountain of gold in California. That makes absolutely no sense to me whatsoever. I bought a few tech stocks back in the 1990’s. Oh yeah! Got burned too! I wish I had that money back now ‘cause I now know what I’d do with it. :)

Fred M. Cain
 By dickdavis

04/09/2013  12:48PM

“According to the Economist, the total debt of world governments is about $50 trillion. Converting the tons of gold into ounces, there are about 6.03 billion ounces of gold above ground, which means there is roughly $9.5 trillion of gold compared to the $50 trillion of official government debt. Considering unfunded liabilities, the picture worsens, as the U.S. alone is estimated to have unfunded liabilities anywhere between $60 trillion and over $100 trillion.”

So if I did the 5th grade math right...all those zeros....gold should be $7936 per ounce to cash out all the paper.
 By bluejay

04/02/2013  8:54PM

 By bluejay

04/02/2013  7:41PM

Gold $1567.20 OFF $32.20
Silver $27.08 OFF $ 0.94

Interesting, as customer money in banks is being confiscated in Cyprus gold and silver are being sold. What to do with your savings? Mine are out of the banking system in property, stocks and coins. NEWS FLASH. The next time a bank fails here, they will reduce what you have on deposit with them if you happen to be one of the unlucky depositors. Hint, stay away from NYC based banks.

Mike Maloney and guest speak of gold and silver:

 By bluejay

03/18/2013  10:00AM

Gold $1606.90 UP $14.00
Silver $28.90 UP $ 0.13

When printing money isn't enough

From http://www.jsmineset.com


We have all heard by now the 10% confiscation of deposits made by Cyprus by order of the European Central Bank.

Also the coming onetime special property tax in Italy, as well as the message this weekend coming out of Madrid that a similar confiscation of wealth form bank depositors may be in the offing.

Now Switzerland may be considering a special bank depositor tax by paying negative interest rates (it’s basically the same as in Cyprus where the government takes 10% of your bank deposits).

Here in the USA, we have zero interest rates. All we have to do is let them drop to negative interest rates, and we’ll have confiscation of money. It’s really no different than Cyprus. If we think it can’t happen here, we may be blind. These situations, happening globally, are indicative of deep, underlying, irresolvable problems that will come home to roost.

CIGA Wolfgang
 By bluejay

02/24/2013  12:23PM

The necessity to own gold

Comments by Martin Armstrong:

Question: Has any government ever survived a debt crisis?

The answer to that is ABSOLUTELY no. This is simply how government always die and we do not speak Latin, Ancient Greek, Ancient Egyptian, Ancient Chinese, or Ancient Babylonian. They have ALWAYS, and without exception, used the same Obama Logic going on right now. They have routinely seen themselves as the exception to history. Such arrogance knows no bounds.
 By bluejay

02/22/2013  6:39PM

Today whistleblower Andrew Maguire told King World News that Eastern central banks have taken a massive 225 tons out of the physical gold market on this recent takedown. This is the first in a series of interviews with Maguire lifting the curtain on what is going on behind the scenes in the ongoing gold and silver war which continues to rage.

Eric King: “Give me an idea of the amount of tonnage being purchased on this decline.”

Maguire: “If you look at the daily tonnage being drawn down, we’re (now) looking at 20 to 30 tons per day of real allocations in dollar and euro gold. Shanghai delivery volumes have been extremely large as well on a daily basis. That’s just what we see clearing here through London and Shanghai....

“There is a lot of direct purchasing also going on. What I’m going to say to you is that it’s certainly in the 100+ ton area (this week alone). And that’s real physical (gold).”

Eric King: “Andrew, I know you were talking about just this week alone on the smash and what kind of gold central banks were taking out of the gold market, but what about when we expand that into the last 3 or 4 weeks? What are we looking at there?”

Maguire: “There’s at least 225 tons that have been drawn down. That is a huge amount of physical (gold). That’s gold which has to be found (in order to be delivered), that’s probably got (existing) claims on it. But as I said to you before, there was a crisis situation, and I think they were damned if they did and damned if they didn’t. They were forced to take this price down simply because the price was about to break out.

We had a very credible rumor of another CME broker dealer going down. This was before (gold) was looking to break $1,700. Who did this (takedown) help? Anyone who was short bought a bit more time. And anyone who was foolish enough to increase their margin long position was taken out at a better profit by the shorts.”

When asked about bids in the physical gold market Maguire responded, “It is exponentially increasing. The central banks and the sovereigns look at exactly the same information that we do. They are looking at how much paper selling power is left, and in whose hands it is (weak or strong long and short positions).

If they see the bullion banks at the lowest point of short positioning, and they see the managed money and the weaker hands holding the highest level of short positions, obviously they are in the market (accumulating large amounts of physical gold).

It really just needs to play itself out here. The result is going to be violent because it is a bubble short position, meaning the market is shorted by weak hands beyond anything I have seen before.”
 By bluejay

02/20/2013  7:06PM

Gold $1561.30 Down $43.30
Silver $28.48 Down $ 0.96

The NY bullion banks are putting extreme paper pressure on gold. For what reason we ask? The conclusion here is that a financial crisis is brewing or more expected currency devaluations are coming with some upward pressure on the dollar but putting potention strain on our export market. Who really knows?

Respected gold analysts are all saying this is a shakedown by the bullion banks would are forcing gold out of weak hands into theirs so they can benefit by the next big advance in the metal.

Below are a few words from Toby Connor from Gold Scents:

Investors just need to get through the bottoming process of this yearly cycle low. Considering that gold is now on the 15th week of its intermediate cycle, which usually lasts about 18-25 weeks We should be getting close.

Actually we are probably closer than it appears by that previous statement. The last intermediate cycle ran a bit long at 25 weeks. Long cycles are usually followed by a short cycle. So I would expect this cycle to run a bit short at 16-18 weeks.

All in all, I expect a final bottom sometime in the next 5-10 days. And once that bottom has formed gold should be ready to break out of the consolidation zone it has been in over the last year and a half and get busy delivering the second leg of that T-1 pattern.
 By bluejay

02/11/2013  8:21PM

My Dear Friends,

What does Russia know that is motivating their purchase of gold? What does China know that is motivating their intend to be the world largest owner of gold? What is behind the downside manipulation to separate you from your gold by scaring the hell out of you and you out of your positions?

This occurred in the 70s. It is nothing new. What is new is you.

The answer is very simple. Gold is not valued at $42 as the US Treasury would have you believe. The majority of the BRICs are going to mark to market valuation of their gold. That will put a necklace of gold on their currencies.

It is the major gold banks now operating in hopes of producing a waterfall of gold into which they will accumulate. Believe me because I know.

You are being royally had. You have a defense even if you are fully committed on a cash basis – simply do nothing.

If you are a coward, admit it and do whatever you have to do to get it over with. That certainly will memorialize the bottom before gold trades over $3500.

I can help people with logic. I have no hope of herding cats.

Jim (Sinclair)
 By bluejay

02/09/2013  12:18PM

Gold $1667.20 Down $3.80
Silver $31.43 Down $0.03

The following building debt in the country is the real reason why our handlers are trying to suppress precious metal prices. From jsmineset.com:

Federal Reserve – the Buyer of ONLY Resort

February 8, 2013, at 7:03 pm
by Dan Norcini

Dear CIGAs,

I came across the following story in my readings today and quite frankly, was thunderstruck after going through it and looking at the data. I did not think this was possible and am still at a loss to explain it so perhaps some of you math whizzes out there can make it simpler for me. Either way, it is simply mind-boggling!

Here is the title – see if it makes you sit up and take notice as it did me!

Fed Has Bought More U.S. Gov’t Debt This Year Than Treasury Has Issued

Here is the link:


Here are the appropriate links referenced in the article.


Federal Debt outstanding as of the end of the calendar year 2012: 16,432,730,050,569.12

Federal Debt outstanding as of February 6, 2013: 16,479,954,658,103.57

Amount of Increase in Debt: 47,224,607,534.40

If I did my math correctly, the size of the Federal Debt increased $47.224 Billion since the beginning of the year.


Now look at the Fed Balance sheet holdings of US Treasuries over that same period.

Fed Treasury Holdings as of Wednesday, January 2, 2013: 1,666,118

Fed Treasury Holdings as of Wednesday, February 6, 2013: 1,717,182

Amount of Increase in Fed Treasury Holdings since the beginning of the year: $51.064 Billion

That is $3.879 BILLION MORE than the US Treasury has issued this year!

Again, I have no idea how this is supposed to be possible but the numbers are what they are. Scotty beam me up. We are freakin’ doomed!

 By David I

02/06/2013  5:28PM

I like to keep my gold for an economic insurance policy against disasters to our economy.

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