July 5, 2022 

Gold Enters Major Bull Market


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 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.
 By bluejay

02/05/2013  9:44PM

A few words from Jim Sinclair:

Gold will rise to $3500 and above. Make sure you are there when it happens. Simply stop quoting it because that is the temptation to trade it. If you starve the paper exchanges of paper contract trading the game ends there. If the patsies do not show up on the paper exchange to be skinned, the skinning will stop. Join gamblers anonymous if you have to. Ladies and gentleman, prepare to defend yourself by doing nothing.

You frustrate any take down if you cannot be taken down. Stop giving the paper exchange your business and the paper exchange will stop. Here is an absolute way to beat the devil by "Gold and Silver Non Violent Resistance." Then we practice "Non Cooperation" as you exit the financial system as fast as you can, adopting direct registration or certification where it still remains. Keep your bank cash not in the bank, but rather in fully paid gold coins and sell a few when you need funds. Bite the tax bullet and get out of those retirement plans which really are plans to confiscate or direct your retirement funds into instrument of confiscation and treasury bonds.
 By bluejay

11/28/2012  11:21PM

Gold $1717.90 OFF $24.00
Silver $33.57 OFF $ 0.48

For whatever concocted reasoning gold experienced weakness today and may continue to remain anemic for a short period of time. In a matter of a limited number of years ahead, looking back at today's prices will speak loudly of a missed opportunity.

Are you ready for 2013? In January the U.S. Mint will remove the penny and nickel from circulation. The story below explains the basis for the Mint's decision from goldsilver.com.

It seems currency debasement as a result of inflation is their justification. In the future will the dime and the quarter be eliminated as well and will transactions be rounded to the nearest dollar?

And then there's the $100 Federal Reserve notes as the highest denominated bill in circulation. Is the day coming when the $100's in our pockets be as common as the $1 bills currently are? It seems time will tell if the $500 bills will be reintroduced back into circulation. In the past, some of the $500 bills, all of the $1000 bills, the $10,000 bills and the $100,000 bills were connected to gold(these gold backed bills were only exchanged between the Treasury and the Fed).

In this environment there is no monkey business when it comes to holding physical gold and the reason gold will continue to keep pace with prices no matter how many dollars are floating around in as many different denominations that are printed on these paper bills. The key point is that the purchasing power of gold NEVER changes.

"According to U.S. Treasury Secretary Tim Giethner, our U.S. Mint intends to remove the penny and nickel coins from circulation beginning early in January 2013.

The Mint currently spends about 4.8 cents per penny due to the rising costs of zinc and copper. A nickel valued at five cents now costs approximately 16.2 cents to make due to inflated nickel prices.

In comparison, the dime and the quarter are much more practical forms of coin currency. The dime only costs about 9.2 cents to mint and the quarter checks in at 21.31 cents. However, due to continued (real)inflation expected in 2013, Giethner has warned that the dime may be in jeopardy of extinction as well."

..............Isn't it interesting that the Mint blames increasing costs on rising zinc and nickel prices when these prices rose as a result of the increased currency expansion mainly by the banks with the smaller increase coming from the Fed itself?

There is no mistake about it, inflation as a result of currency expansion is the greatest long term tax of all, a direct tax that very few grasp and the reason why people in general, will be financially dragged down the rabbit hole.

For the family's long term financial survival, a certain amount of your wealth demands to be in gold.
 By bluejay

11/19/2012  7:04PM

Gold $1733.20 UP $19.50
Silver $33.18 UP $ 0.87

Excerpts from an Eric Sprott/Greg Hunter interview:

Money manager Eric Sprott says, “The central banks’ gold is likely gone with no realistic chance of getting it back.” Don’t expect this revelation to get any coverage by the mainstream media. In an interview last week, Sprott’s analysis was met with words such as “gold bug” and “conspiracy theory.” Sprott answers that sort of disrespect by saying, “We’ve had so many conspiracies, I don’t know why anyone would think this was unusual.” To back up his point, he named “LIBOR, electricity markets in California and the Madoff” scandals. Sprott’s analysis shows a “flat supply” and at least a “2,500 ton net increase in gold demand” since 2000. “Where’s all the gold coming from?” asks Sprott. He says Western central banks “. . . keep supplying this market with product in order to keep the price down so nobody knows how vulnerable the situation is.” Sprott, who manages nearly $10 billion in assets, boldly proclaims, “We have a shortage of gold.” Join Greg Hunter as he goes One-on-One with Eric Sprott of Sprott Asset Management.
 By bluejay

11/04/2012  8:26AM

It doesn't get any more bullish for buying silver in here than the news from Jim Sinclair of a major failure to break the silver market.

November 4, 2012, at 2:58 am
by Jim Sinclair in the category In The News | Print This Post | Email This Post

My Dear Friends,

There is much discussion this weekend of the following:

Almost 192 million ounces of paper Silver were ‘dumped’ on the market Friday within ten minutes upon the NFP release. This is the equivalent to one-quarter of the world’s annual physical Silver production.

Have you for a moment considered that 192 million ounces of silver were purchased on the market on Friday within 10 minutes?

Respectfully yours,
 By bluejay

11/02/2012  5:02PM

Here we go again,

Gold $1676.90 OFF $38.10
Silver $30.91 OFF $ 1.35

Don't know which is sadder either watching these foolish paper dragons scare holders of physical gold and silver with their dirty tricks or sensing their induced fright in people from losses they believe they are experiencing on days like these.

The only thing I know for sure is I have to pay more for less at the supermarket and I'm being bombarded on TV with Monsanto hacks telling me prop 37 here in California is a "no vote."

Sorry, I'm not falling for manipulated metal prices(only to get great buys), thinking cereal boxes are as full as you would suppose from their box sizes and I'm not falling for all the hired quacks trying to get my approval against labeling Frankenstein foods.

I was thinking of food debasement because our currency debasement is a never ending story that requires us to add to our physical holdings with today being another great opportunity. This id not the day to be scared but the day to be bold with a few buy orders. Step up to the plate and take a few swings. I've been doing just that, even at last week's higher prices. Early next week I'm going in for a few more pieces.

Jim Sinclair is looking for $6000 on the yellow metal. Mr. Sinclair is 71 years old and is referred to in the gold community as "Mr. Gold" for his past brilliant forecasts.

As the people get squeezed more and more by governments and as more and more inflation creeps into the system gold will always be your family's savior.


I use http://www.golddealer.com and http://www.apmex for my coin transactions.
 By bluejay

10/21/2012  11:05AM

Gold $1720.50 OFF $21.10
Silver $32.07 OFF $ 0.75

Little men in the halls of power are paper-pushing gold lower with elections nearing in hopes of redirecting attention away from what gold has been shouting about their failures.

The games will be quite expensive down the road with the public holding the bag when the piper has to be paid.

It seems we currently have other big players in the game:

Billionaire Investor Giustra Stays Positive on Gold

posted on Oct 21, 12 01:28PM Use the IP Check tool [?]

Sunday, 21 Oct 2012 12:23 PM/marketwatch.com

By Dan Weil/excerpts

Billionaire Canadian investor Frank Giustra, who has been bullish on gold for at least 10 years, is sticking to his guns.

Gold’s appeal lies in the fact that it’s a tangible asset, Giustra says "It is moveable. It is easily transferable across borders in times of crisis. It's a currency. It's liquid. It's easily tradable. I'm a fan of all hard assets, but particularly gold. It's the largest part of my portfolio, and it will continue to be until this cycle is over."

Frank joins the ranks of other billionaire gold holders like Carlos Slim from Mexico, the richest man in the world.
 By bluejay

10/17/2012  11:30PM

Check out http://www.kingworldnews.com and read the story concerning the LBMA being a Ponzi scheme in a part three interview of a London trader.

The whole Exchange operation is like a casino but when you go to cash in your chips that represent gold and silver you find that the cashier's vault is empty. The Comex and LBMA today shouldn't even be called metal exchanges but rather "betting parlors" or "bucket shops."

The current environment with physical gold and silver is like it was in late 2008 following the financial crisis when the metals were beaten down with paper sales, people wouldn't sell physical because they didn't believe the posted prices.

The interview ended with these two sentences: "But we will see a day when silver(as well as gold) can no longer be capped through paper trading and various games being played at the LBMA and COMEX, and in the end, it will be the physical market which will be the deciding factor. At that point you will see the real price of silver for the first time, and it will leave people in disbelief.”
 By martin newkom

10/17/2012  4:20PM

Why can't one establish an ETF
or an LLP for the purpose of
Holding Gold,ie the "Sixteen to One Mining Exchange Traded Fund"
(For the express purpose of group ownership of Gold. They are doing it in the oil and gas industry. The participants are partners in the operation and enjoy a significant tax advantage. The fields of endeavor are in exploration,
extraction, pipelines, storage
as well as tankers.
 By bluejay

10/17/2012  3:01PM

N.Y. metal changes

Gold $1749.90 UP $1.60
Silver $33.20 UP $0.24

A quote from Jim Sinclair today:

"It’s clear that demand for the US Dollar is waning and certainly when national leaders watch a US debate like the performance yesterday they must reinforce their theories significantly that the path our nation is on is one of currency debasement."

Our job is trying to save and add to our gold
 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.

 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.


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