Original Sixteen to One Mine, Inc. - Forum Topic: "Gold Enters Major Bull Market"



	October 17, 2021 Sunday

Forum
Topic:
Gold Enters Major Bull Market

By bluejay
10/16/2012 9:48PM

Gold $1751.40 UP $14.00
Silver $32.99 UP $ 0.29

The following is an excerpt from a London metals trader interview recently from kingworldnews.com relating to physical gold:

“We are continuing to see the bids get raised in these markets. This has become a competition for the central banks and sovereign buyers to get rid of their dollars and euros as fast as they can, and swap it for something of real value.

Meanwhile, the bullion banks run the COMEX and they are not stupid. They are going to ring the register on this managed money. The commercials have been doing extremely heavy short covering into the weak-handed longs which have been selling, but they are also covering into fresh shorts from speculators and managed money.

The question now is, where is the inventory going to come from to fill all of these physical orders? The physical market is already tight as a drum. I would be surprised if there is much more downside in this environment. Yes there is this game of the commercials covering into weak-handed longs, and fresh shorts, but there is reality here, and reality is the physical market, and these buyers have moved their orders higher, and will continue to do so.

Remember the old days, Eric, when the Indians would say, ‘I’m not buying at these levels. I will wait for a large pull back.’ Well, those days are gone. The physical market used to be India, and if India was on a buyers strike, the gold market would come down an awful lot in terms of price.

India would just say, ‘We’re the biggest gold buyers in the world, so we will just step back and wait for our price. We will wait for our price because we already have plenty of gold here.’ But now you’ve got too many competing entities all trying to acquire physical gold.

Suddenly China has overtaken India. So India doesn’t have the luxury of sitting back. India is back in the market now. India is back buying in the mid-$1,700s. India was back yesterday. India is back today. They need to buy gold and they are stepping ahead of other entities and becoming a large buyer.

The Indians are not stupid. They know the commercials harvest the weak hands on the COMEX. Once they see open interest get to a certain level, they fully expect a reaction in the price. But your readers have to understand that there isn’t going to be a ‘correction’ this time, there will only be a ‘pull back.’ There is a big difference between a pull back and a correction.

The reasons for this is there are just layers of central bank and sovereign physical buy orders in here right now. Some of it has already been filled. There has been tonnage filled at higher levels than we are currently trading. As soon as we went through $1,760, we started to see central bank buying.

Each layer below current levels there are exponentially larger physical orders. I would also point out that when we have seen smashes in the past from say 2008/2009, the difference this time is that the physical buying is now coming from central banks all over the world. That is what is different this time, and this is why we are not going to see a waterfall decline in the gold market.”

By bluejay
10/11/2012 9:13AM

Gold $1768.80 UP $6.20
Silver $34.09 UP $0.11

The following was presented by the contributor Mark at the http://www.agoracom.com's website under the security forum for PRB:

"Then There Was This. from Zerohedge.com. (one of my fave websites to visit). This is an article posted by the chief investment officer of Guggenheim Partners in New York and Chicago, Scott Minerd, who concentrates on an angle often raised by Jim Sinclair, the (purported) U.S. gold reserve's "coverage ratio" of the U.S. money supply.

Minerd writes: "The U.S. gold coverage ratio, which measures the amount of gold on deposit at the Federal Reserve against the total money supply, is currently at an all-time low of 17 percent. This ratio tends to move dramatically and falls during periods of disinflation or relative price stability. The historical average for the gold coverage ratio is roughly 40 percent, meaning that the current price of gold would have to more than double to reach the average. The gold coverage ratio has risen above 100 percent twice during the 20th century. Were this to happen today, the value of an ounce of gold would exceed $12,000.

Well, dear reader, my guess currently stands at $18,000 the ounce, so the estimates are getting closer. But if gold only makes it to $12,000/ounce, I'm sure I'll manage somehow...as silver will be many hundreds of dollars per ounce...and the "new" gold."

By bluejay
10/09/2012 8:13PM

Printing Money – Price of Gold – Preservation of Wealth
October 9th, 2012 by admin golds
by Egon von Greyerz – October 2012

1. Worldwide money printing continues unabated

2. Just In 10 years $120 trillion have been printed making global debt $200 trillion

3. World GDP has gone from $32 trillion to $70 trillion 2001-2011

4. Thus $120 trillion debt is required to produce a $38 trillion annual increase in GDP

5. The marginal return on printed money is negative in real terms

6. Thus the world is living on an illusion of paper that people believe is money

7. This illusionary paper wealth will implode in the next few years

8. The initial trigger will be the collapse of the world’s reserve currency – the US dollar

9. The dollar is backed by $120 trillion of US government debt and probably NO gold

10. All currencies will continue their race to the bottom and lose 100% in real terms against gold

11. This will create a worldwide hyperinflationary depression

12. All assets financed by the credit bubble will go down in real terms

13. This includes stocks, bonds, property and paper money of course

14. The financial system is unlikely to survive in its present form

15. The banking system including derivatives has total liabilities of around $1.2 quadrillion

16. With world GDP of $70 trillion, the world is too small to save a financial system which is 17x greater

17. This is why there will be unlimited money printing and hyperinflation

18. The only asset that will maintain its purchasing power is gold Click here for chart

19. Gold has been money for 5,000 years and will continue to be the only currency with integrity

20. Western countries’ 23,000 tons of gold is probably gone. See recent article by Eric Sprott.

21. The consequence is that most of the gold in the banking system is likely to be encumbered

22. This means that Central Banks one day will claim it back against worthless paper gold IOUs

23. Thus gold and all other assets within the banking system involve an unacceptable counterparty risk

24. Gold should be held in physical form and stored outside the banking system

By bluejay
10/06/2012 10:47AM

Weekly Closes

Gold $1781.30
Silver $34.51

Just got back from the hardware store where it was 20%-off Saturday. Noticed on the way out they had CHUCKLES so I picked up five as they used to be my childhood favorite. Returning home the receipt said regular price $1.29. W0W! Heck, I remember when I paid $0.10 each years ago but that's when gold was selling at $35 an ounce.

The important point to keep in your mind, gold will ALWAYS protect your purchasing power.

October 5, 2012

My Dear Friends,

Today’s employment figure is a shock. A shock not because they are good, but rather because the fabrication is totally transparent. On the other side is the candidate of Wall Street and the Banksters. There is no choice here between good and bad, capable or incapable. No matter who wins, the transition to a one world central bank and a single currency is unavoidable. Both parties are experts on the art and science of stealing an election. Who knows, that might cancel itself out.

If I was a young married man, I would not have children. I would not want them to have to live through the end game of all of this transitioning into the new world of Big Brother’s matrix. I have given you the end game financially which is the Federal Reserve balance sheet’s impact on dollar confidence. I know what the new world will look like, making me totally delighted to be 71.

Gold will protect you in this transition. Silver will give you a cheap thrill followed by a spiritual experience devoid of a teacher.

Respectfully,
Jim(Sinclair)

By bluejay
10/01/2012 6:08PM

Quote of the the day from Jim Sinclair:

"There is no way that the present giant shorts in the good gold shares can cover. The only reason they are not yet in panic is their long period of winning has made even the smartest of them stupid."

Below is linked a chart of the relationship between gold and the popular gold and dilver index, the XAU. It is quite clear that the shorting of the shares versus gold by the hedge funds is over with the double top formation on the graph.

http://stockcharts.com/h-sc/ui?s=%24GOLD%3A%24XAU

By bluejay
09/27/2012 11:31AM

Gold $1776.70 UP $23.40
Silver $34.61 UP $ 0.62

The $1800 level on gold and the $35 level on silver are the chart areas where the cabal is staging their defense in preventing the metals from moving higher. Will they succeed? If at all, only for a short period of time.

In the following linked article below Dr. Darryl Schoon spells out where we are headed compliments of the "out of control" Federal Reserve. Yes, they have no other choice but to remove all the mortgage garbage from the bank's balance sheets before the whole financial system collapses but at their expense? No, ours and the expense is ruining our currency. Sporatic past financial trials leading up to this terrible time period have been brought to us by the buffoon, Alan Greenspan, necessitating massive currency expansion just to keep the ship afloat.

Anyway, read Dr. Schoon's presentation and get informed so you are better prepared to weather the coming storm.

http://www.kitco.com/ind/Schoon/20120926.html

By bluejay
09/23/2012 11:16PM

The following is silverdoctors.com's account of what took place in the silver market last Friday, 9/21/12.

"After silver exploded through $35 on this today’s COMEX open, we wrote this morning that should silver hold $35 through today’s weekly close, the metal would quickly run to $37-$37.50 early next week as a massive short squeeze developed.

The cartel understood the predicament they were in, and responded with a massive paper dump on the market to stuff price back below $35.

Between 10:35 and 10:50am EST, an astonishing 62.5 million ounces of paper silver were indiscriminately dumped on the market to induce the sell-off- nearly twice US annual silver production of 36 million ounces!!"

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

The attack in continuing in the thinly traded Asian markets tonight with silver at $33.94, off $0.58, while gold is also lower by $11.60 at $1761.40.

It is quite evident we are dealing with desperate men intent in hiding the fact that the U.S dollar's reserve status is being seriously questioned by many countries around the world. Sadly in the end, the cost of these charades will be billed to the people.

By bluejay
09/23/2012 11:20AM

Friday's closing metal prices

Gold $1773.00
Silver $34.52

From Jim Sinclair
http://www.jsmineset.com

My Dear Friends,

You can be absolutely sure the 7 touches capping sells at $1775 were for the purpose of accumulation.

Our newly created trillionaire banksters will be long of cash gold in their own depositories.

Gold is going to $3500 and beyond much, much, much faster than it took to get to go above $1900.

If you think the major banksters are either short or flat on this gold move, you are seriously bonkers.

Regards,
Jim

By bluejay
09/18/2012 12:42PM

Jeff Berwick says you won't be able to buy gold and silver in two years. Something to ponder.

http://usawatchdog.com/jeff-berwick-0-interest-rates-until-the-system-dies/

By bluejay
09/15/2012 7:02PM

Weekly closes

Gold $1770.50
Silver $ 34.68

Gold may be on the verge of an extended run based on the following imformation that was just received:

Battleships, aircraft carriers, minesweepers and submarines from 25 nations are converging on the strategically important Strait of Hormuz in an unprecedented show of force as Israel and Iran move towards the brink of war.

Western leaders are convinced that Iran will retaliate to any attack by attempting to mine or blockade the shipping lane through which passes around 18 million barrels of oil every day, approximately 35 per cent of the world’s petroleum traded by sea.

A blockade would have a catastrophic effect on the fragile economies of Britain, Europe the United States and Japan, all of which rely heavily on oil and gas supplies from the Gulf.

The Strait of Hormuz is one of the world’s most congested international waterways. It is only 21 miles wide at its narrowest point and is bordered by the Iranian coast to the north and the United Arab Emirates to the south.

In preparation for any pre-emptive or retaliatory action by Iran, warships from more than 25 countries, including the United States, Britain, France, Saudi Arabia and the UAE, will today begin an annual 12-day exercise.

They will practise tactics in how to breach an Iranian blockade of the strait and the force will also undertake counter-mining drills.

The multi-national naval force in the Gulf includes three US Nimitz class carrier groups, each of which has more aircraft than the entire complement of the Iranian air force.

The carriers are supported by at least 12 battleships, including ballistic missile cruisers, frigates, destroyers and assault ships carrying thousand of US Marines and special forces.

The British component consists of four British minesweepers and the Royal Fleet Auxiliary Cardigan Bay, a logistics vessel. HMS Diamond, a brand-new £1billion Type 45 destroyer, one of the most powerful ships in the British fleet, will also be operating in the region.

In addition, commanders will also simulate destroying Iranian combat jets, ships and coastal missile batteries.

By Sean Rayment, Defence Correspondent

10:00PM BST 15 Sep 2012

By bluejay
09/13/2012 12:06PM

Bernanke Unleashes The Path To New All Time Highs In Precious Metals

Submitted by Tyler Durden on 09/13/2012 13:17 -0400

There was one thing, ONE THING only that Bernanke could do, to become a gold bug's best friend today, than merely announcing QE 3/4. It was to announce open-ended QE. This means this is the Fed's final shot and there is no way to frontrun the Fed any more by definition. It means the terminal start of currency debasement is now here. It also means that the path to all time nominal (and inflation adjusted) highs in gold, which is now just $160 away, silver, platinum, and all other metals, as well as all other hard assets is now clear.

$1764.30 UP $32.90
Silver $34.51 UP $ 1.20

The madman at the Fed continues to destroy our curreny's purchasing power. If you don't have gold and silver and their stocks as a hedge against your wealth it strongly appears you headed towards financial hardship.

By martin newkom
09/08/2012 5:07PM

One could mint and sell "proofs" like the people on the "tube"

By zef
09/07/2012 8:18PM

how hard would it be for this company to start minting its own tokens perhaps suitable for coinage though perhaps not to be called coins. so as to not get in trouble with the US government. Anyone heard of decas? http://www.coinbooks.org/esylum_v12n27a24.html

i used to have some but they got stolen.

By bluejay
09/07/2012 3:24PM

Gold $1735.30 UP $34.00
Silver $33.68 UP $ 0.97

"Gold is truly going to and through $3500. The gold business is the best business to be in." Jim Sinclair

It pays, sooner or later, to have an active program in place for buying gold and silver coins on scary reactions.

By bluejay
09/05/2012 11:01AM

Gold $1691.30 DOWN $4.90
Silver $32.21 DOWN $0.15

There are always rumors flying around the marketplace concerning where all the physical gold is coming from, especially over the past weeks as gold has moved higher and traded above $1700 for an instant yesterday.

Most likely western nations have been leasing out their gold in increasing numbers as soverign debt problems continue to swell. The only question that might remain is, will they be able to get it back? With paper products representing physical that is certainty not behind these instruments, it seems like a collapse of the paper market and the leasing market could take gold much higher, well beyond most people's imaginations.

The following countries, more than likely, have been buying the leased gold(does the U.S. really have any physical gold left?):

China - Russia – Bangladesh – Philippines – Saudi Arabia – Thailand – Belarus – Venezuela – India – Sri Lanka – Mauritius – Mexico – Bolivia – Colombia – South Korea – Turkey – Kazakhstan – Tajikistan – Serbia – Ukraine – Mongolia – Malta – Greece - Argentina.

By bluejay
08/30/2012 12:06PM

From Jim Willie:

"Expect a price move toward $1800 very soon. Expect a Silver price move also, as it more clearly has broken out from the year-long consolidation, back over $30/oz. Moves in the two metals could come fast and furious. The Eastern world has consistently been big buyers, but now the Western world is seeking safe haven from the ruin in banks and bonds."

By bluejay
08/27/2012 11:44AM

The Federal Reserve Is An Impotent Rodent - Gold Prevails

http://www.kitco.com/ind/Wieg_cor/20120827.html

By bluejay
08/26/2012 12:50PM

Weekly closes

Gold $1670.70 UP $52.70
Silver $30.82 UP $ 2.72

In the later part of the linked Max Keiser's interview below a guest from London states that for the U.S. to pay off its $16 trillion debt with its supposed gold holdings that a price of $60,000 would have to be used.

In 1980 the equilibrium price of $850 would have done it for the same thing with a much lesser amount of debt.

The price of $1670 in the realm of the big picture is by no means expensive.

Gold is your best friend during these troubled times.

http://maxkeiser.com/
Select the "Debt Bomb."

By bluejay
08/22/2012 8:54PM

Evening metal prices

Gold $1663.20 UP $24.60
Silver $30.17 UP $ 0.84

Pushing through the $1658 area on gold, if it holds, is significant. It is technically significant as well as politically significant. When one considers how many paper obligations were entered into in holding gold down by the bullion banks as many big banks wobbled, it is a wonder gold was able to shake off the paper selling pressure. This action bodes well for more pent up energy being released in higher prices with the bettering of the important $1658 level.

The day is coming when the paper gold market totally implodes for its inability to caugh up physical gold which frankly, does not exist as a basis for those contracts. Paper gold contracts should have never been allowed to affect physical prices. Are there possible suits coming from gold producers who obviously have been robbed?

The bottom line is the bankers are selling paper contracts as they take delivery on the physical metal from physical sellers. In the end, it is speculated, the public will pay the cost of the losses in shorting paper gold while the bankers keep the gains and the physical on the expected appreciation . Why would anyone think it would be any different?

By bluejay
08/22/2012 11:55AM

Gold $1651.60 UP $13.00
Silver $29.83 UP $ 0.50

Gold for the past few months has been etching out a bottom formation and now appears has gathered enough strength to attack the important $1651 and $1658 resistance areas as it flexes its muscle today. If the metal blasts through these levels it could indicate that expanded financial troubles are upon us. From purely a chart perspective, it is expected than gold and silver may be due for a little resting in here.

Nevertheless, the higher metal prices of the past few weeks should feel great, especially, for those who have a methodical bullion coin purchasing program in effect.

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