October 25, 2021 



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 By bluejay

10/09/2011  8:45PM

The Bank of New York Mellon is going down according to the man who brought Bernie Madoff's Ponzi scheme to the attention of the SEC. Madaoff's Ponzi's scheme amounted to $65 billion.

Mr. Harry M. Markopolos alleges that the New York Bank Mellon cost tens of millions of Americans between $6 to $8 billion from their retirement savings accounts by cheating them on fraudulent foreign currency mark-up and mark-down charges during past decades.

Check out more of what the whistleblower Markopolos has to report against the bank during an October 8, 2011 interview by Eric King of King World News.

The Bank of New York Mellon is the largest custodial bank in the country.

 By bluejay

10/08/2011  10:03AM

On a regular basis, folks should continue their education. There is no better place to allot some of your precious time than to tune into http://www.martinarmstrong.com.
Yesterday's commentary entitled, "Occupy Wall Street, Gold & Did Operation Twist Send The 30 Year Rates To Record Lows?" is another piece of brilliant writing by Mr. Armstrong, always with an historical twist of its own.

 By bluejay

10/07/2011  9:20AM

From Martin Armstrong:

There is NO constant in money because money is simply another variable in the entire economic-mix. Gold is a COMMODITY that is rare enough to provide a STORE-OF-WEALTH that is recognized universally on a global scale. REAL ESTATE has no international value because it cannot be transported outside the domestic economy. LABOR has no true international value because it fluctuates among nations dependent upon a host of other factors. Gold is a commodity that is the same in all nations, yet its value varies internationally because it is a hedge against the fiscal mismanagement of government. There is ABSOLUTELY no government that has not defaulted upon its debt except Romania during the 1980s.
 By bluejay

10/05/2011  3:55PM

More Market Rigging.

Kitco News reports today that the CME Group raised copper margins by 15%.

Check out the link below depicting a chart of copper, absolutely, showing no price reasoning for increased margins at this time. It must be clearly apparent to trained observers that the metal was heavily shorted some weeks back and now, the insider big shorts are hoping to flush copper from weak hands with this move.

Will authorities investigate? I don't think so.

 By smithsgold

10/05/2011  11:15AM

Thanks for the update !!!
 By bluejay

10/03/2011  6:30PM

Greg Hunter spells out the OTC derivatives risk today by some major US banks:

The Bank of International Settlements pegs the total world over-the-counter (OTC) derivative exposure at around $600 trillion, but many experts say the real figure is more than twice that amount. No matter which figure you use, it is a gargantuan sum. OTC derivatives are an unregulated dark pool of money with no public market. These are basically debt bets between two entities on things such as credit risk, currencies, interest rates and commodities. According to the latest report from the Comptroller of the Currency, just four U.S. banks have an eye popping $235 trillion of OTC derivative leverage. (Click here for the complete Comptroller of the Currency report.) As a nation, U.S. banks have a total OTC derivative exposure of $250 trillion. So, the fact that just four U.S. banks have this much leverage and risk is astounding! The banks are listed below in order of size and approximate OTC exposure:


$78.1 trillion OTC derivatives


$56.1 trillion OTC derivatives


$53.15 trillion OTC derivatives


$47.7 trillion OTC derivatives

Considering that the total assets of these four banks are a little more than $5 trillion, I see a frightening amount of risk with a total derivative exposure of $235 trillion! This is nearly 50 to 1 leverage. On top of that, assets such as real estate or mortgage-backed securities can be held on the books at whatever value the banks think they can sell them for in the future. I call this government sanctioned accounting fraud, or mark to fantasy accounting. Who knows what the true value of the banks “assets” really are.

10/03/2011  3:33PM

The public celebration of the 100th anniversary of Original Sixteen to One Mine, Inc. will be scheduled on a future date to coincide with the State Legislature's resolution in recognition of the event. Thank you for asking. As soon as a date is decided it will be posted here. Please pass the word to any other Shareholders you may know.
 By bluejay

10/03/2011  11:45AM

The following gold production numbers for the U.S. were provided by Stan Sudol in his recent article, "North Ontario -A Golden Klondike - 192 Million Ounces and Counting:"

Top Gold Producing American States in 2010 (State Geological Surveys)

In 2010, the United States produced 228,000 kilograms (8,042,463 ounces) of gold, the third largest amount globally. Nevada produced 163,000 kilograms (5,749,656 ounces) and the remaining other states mined 65,000 kilograms (2,292,808 ounces). (United States Geological Survey)

Please note that the statistics from individual State Geology branches are not always in sinc with the United States Geological Survey. (1 kilogram equals 35.2739619 ounces)

Nevada - 5,338,559 ounces

Alaska - 845,144 ounces

Utah - 283,220 ounces

Colorado - 231,000 ounces

Washington - 198,810 (gold equivalent production: Kinross)

Arizona - not available

California - 174,446 ounces (2009) - In 2010 150,000 ounces were produced at the Mesquite Mine in Imperial County operated by New Gold(NGD).

South Dakota - not available
 By audiger

09/29/2011  9:32PM

What is being planned for 100 year aniversary an of the Original Sixteen to One Mine's Incorporation? I for one would love to attend and plan to be there.
 By bluejay

09/29/2011  4:17PM

More Bank Subsidies On The Way?

Candice Choi, AP Personal Finance Writer, On Thursday September 29, 2011, 5:16 pm

NEW YORK (AP) -- Will a monthly debit card fee soon be the norm? Bank of America said Thursday that it plans to start charging a $5 monthly fee when customers make debit card purchases. The fee will be rolled out starting early next year.

---The fact of the matter is that when Bank of America took over Countrywide Reality they under-estimated all the toxic waste that went with it. Bob Chapman says that if major US banks realisticlly priced their toxic waste it would become known that they are, actually, insolvent.

So one way or the other, the consumer continues to bail out the banks.

There are 520 million issued debit cards. $5X12mosX520million= $31.2 billion in new yearly proposed bank charges coming if BOA gets their way and all the other banks join into taking for themselves $5 each a month from our checking accounts.

The reason the economy stinks is all the money being sucked from us via loans and high interest credit cards payments to banks is NOT BEING RECIRCULATED back into our local economies. Think about it: we don't need fancy worded stimulus plans, we need lower interest payments to lenders so our local economies can be well greased with the fruits from our labor.

In the early 80's the lid on the general usuary law was lifted by Paul Volker. Who has the guts in Washington to get the big bankers back in line???? Or, just let the parasitic block suckers fold and let the chips fall where they may.
 By bluejay

09/21/2011  8:34AM

Director of Agnico Eagle(NYSE) with strong Wall Street connections becomes president of Sutter Gold. Sutter Gold's main asset is their Lincoln Project located between Amador City and Jackson which is preparing for gold production.

 By Kit Carson

09/18/2011  6:37PM

Please see my message in the 'Technology' topic. The mining men that I am affiliated with in Reno are good people. My partner would be glad to introduce an experienced negotiator/attorney to you guys if you are willing to share some of your correspondence about your legal prolblems. I fear you are facing a stacked deck. But then again I am new to this mining idea and what do I know?
 By bluejay

09/18/2011  11:24AM

Check out this Max Keiser video, "Flaming Banks, Burned-Out Economy." This video in particular is a blockbuster. It clearly shows, along with an outstanding presentation by Aaron Krowne, how Americans are getting ripped-off over and over again by financial institutions while the government watchdogs with all their regulatory agencies do little to nothing in preventing this ongoing fraud.


09/17/2011  9:43AM

Bigsbkahuna, if someone offers you the Brooklyn Bridge to buy, refuse. Since most of the regulars know how to respond to your silver nuggets purchase but out of respect remain silent, Scoop must reply.

No silver nuggets have ever been found in the Sixteen to One mine. An educated guess is that no mine in the Alleghany district sports silver nuggets. Write eBay and report a fraud. Are you sure your nuggets are steel balls?

Scoop knows that the Webmaster will move your interesting purchase to the miscellaneous topic. Write again. You have had a most unusual experience.
 By bluejay

09/16/2011  11:47AM

Kissinger, the Bush's and Bill Clinton all should take the dubious honor of destroying the working class in this country. The only person standing up for the U.S. worker's security was Ross Perot, a proven businessman, during the 1992 presidential debates and, overall, the minority in Congress.

Mr. Perot said all NAFTA would do was create a "Giant Sucking Sound" (of U.S. jobs) and NAFTA was only "A One-Way Street." Bush and Clinton said this was not true. This is just more proof that politicians have no idea how their decisions effect their constituents, or do they?

Bob Chapman recently stated that 8,000,000 U.S. jobs have been lost to free trade globalization. To whose benefit? Big U.S. corporations increased their profits by employing cheaper labor abroad which led to off-shore accounts and tax evasion. There maybe 2 to 3 trillion dollars of U.S. corporate money on deposit abroad in an attempt to circumvent IRS tax codes. And the U.S. is seeking to locate individual foreign tax payer's holdings with a requested 35% hold on them to the benefit of the IRS? How about U.S. corporate foreign deposits?

With the shrinking U.S. job market, people have been forced to cut-back on their living expenses. Many folks have been lured to Walmart type stores because of their competitive pricing just to survive. Who is Walmart's big supplier? Why China, of course.

Cheap products flowing into this country from China have given the Chinese a huge trade surplus with us, thanks Kissinger. As a result of the government's failed attempts with massive debt expansion to jump start a faltering economy because of production loss and failed gambling endeavors by the big banks, the integrity of the U.S. dollar has greatly dimished.

Now, China is looking to buy into U.S. assets with their questionable Treasury holdings. Thanks, Kissinger and all your supportive cronies who lick the boots of big U.S. corporations at the huge expense to American families.

Ambrose Evans-Pritchard has an excellent article linked below depicting the China situation with their U.S. Treasury holdings. China seems interested in an acquiring an equity position in Apple and Boeing. China has already purchased farm land in the U.S.

What's next, Kissinger. What other long term deals did you make in your 1974 meeting with them?

 By Bigsbkahuna

09/16/2011  10:28AM

Just bought some natural silver nuggets on eBay that were said to come from the 16-1 ?
Silver and platinum would be in some formations, right?

Love to buy some stock.
Matthew Kramer
Santa Barbara, ca
 By bluejay

09/14/2011  11:13PM

Sound familiar?

The following are some recent thoughts from Martin Armstrong:

During the Bonus Army march upon Washington in 1932, the government sent in troops and tanks against veterans and their families using the label “criminals” to justify the government strong-arm tactics. History repeats for today the same labels are appearing rolled out once again for England and Greece.

Government blames society for breaking down into single parents and then there is the school discipline issue to blame. Of course what also emerges is the Marxist view that instantly attacks the rich, bankers, Wall Street, and the overall materialism/capitalism.

This justifies higher taxes, more regulation (as if the sea of agencies actually have prevented anything), and the general witch-hunt to imprison
those on the periphery and never any real culprits who are part of the oligarchy feeding the elections of some of the corrupt politicians. Prosecuting anyone produces the impression it is NOT those in government that have screwed anything up.

09/06/2011  8:04PM

Dear Mike,
I hope you had a great Labor Day weekend! Thank you for your reply to my posting. I very much appreciate the thought you put into it. Clearly you are a well-spring of knowledge and experience in both mining and the Kinky idiosyncrasies of California government. I know that you have most of the answers I'm looking for, and I will also search this site studiously. Naive as I am, I really did expect to hear the hills alive with the sound of music from air compressors and happy miners singing “Hi Ho! Hi Ho! It’s off to work we go!” REALLY I DID! But I learned that this isn’t the case, so I felt a need to explore the Topic which heads this blog. Let me explain why I did this.

(Beware! This is a long post)

My business experience has been Management Consulting in Strategy, primarily Competitive and Marketing, in “production based” industries. However, now my focus has shifted almost totally onto gold mining. This is because I recently became the owner of a gold mine with patented claim which has been an important producer in Sierra County gold mining. The mine has had excellent historic production, and I hope great future potential. And so my Task One is, as you recommend, to conduct my “Due Diligence”, learn about the industry and the specifics of my property.

My research is still preliminary, but if gold mining was like Hi-tech, at the current prices, companies and mines would get snatched up like corn cobs in a tornado! Clearly this is not the case, so I am trying to understand why. The structures of “normal production based” industries are determined by relative cost position and the nature and strength of the internal competition. In mature industries, those with very strong competition and low friction, such as semiconductors, the top 3 competitors own 80% of the market. The top competitor sets standards and controls the product/market definition. Production cost is proportional to cumulative volume. The industry price is generally set by the cost structure of the #3 competitor. This produces stability and lets all 3 make acceptable returns on investment.

My current understanding is that resource based industries follow a different pattern. Some of the difference is that resource assets differ in quantity and quality from company to company. Cost is based more on the character of these assets rather than on total cumulative volume. Buying resource assets is easier but much more risky than buying manufacturing facilities. And seemingly, Government Regulation may be the most important variable in determining profitable production. Until now, my only direct experience with a resource based industry was aluminum production with Kaiser Aluminum & Chemical. But in this global industry the controlling resource was not the ore, but rather the availability and cost of the energy needed to refine it. To get into the aluminum business all you needed was a hydroelectric dam, or lots of cheap coal.

Government Regulation seems like a Great Black Pall which hangs over the whole resource industry in California. It sounds like this is currently the dominant force, an inconsistent and inescapable force, and one that I need to understand. On the international stage mergers, acquisitions, and joint ventures are becoming more common as gold price increases. Large companies are using this as a quick way to obtain ready assets to compensate for the depletion from operations. I don’t know if this is or will become important in California.

One thing that I do know well…..I know how to do research. There is a wealth of information on the Sixteen to One website that I am working through. I am also taking mining and geology courses through the University of British Columbia, studying USGS surveys, and hunting on Google. I would greatly appreciate any direction you other experienced members of the Forum might give me. And especially THANK you for reading through this long post.

Ron Pacholec
 By bluejay

09/04/2011  10:01PM

From the Casey Daily Dispatch

A sub-species of particularly stupid and destructive capuchins in the California legislature appear poised to pass a bill that will effectively put an end to hiring an adult babysitter or anyone seeking casual employment doing odd jobs.

Historically, the producers of the real wealth and the revenues for the State have been the hard working farmers and the hard working miners. Now we have a herd of buffoons in Sacramento unable to learn from simple high school history doing what they do best, suffocate and restrain the folks who want to work.
 By bluejay

09/04/2011  2:27PM

This following below is an outstanding description of the big problem faced by miners in California. Although intended for the malfuction-junction group in Washington, it can equally be applied to the political gang in Sacramento.

Comments by Martin Armstrong:

Politicians just don’t get what is going on. They are living in a dream world where they are so wrapped up in themselves that they fail to realize (1) they are the problem, and (2) the emperor truly has no clothes. They said Nero fiddled while Rome burned. They are jousting for position only to be able to blame the other party for the next election and to HELL with our future.

The majority of politicians are so wrapped up in themselves they are completely disconnected from the people. They rant and rave over pointless dogma but are clueless to how the real world actually functions. They must be living under a rock because they are completely void of any common sense whatsoever and are oblivious to the future.

They assume that government is exempt from EVERY law and economic principle and can actually manipulate their way out of anything. Some are just lining their pockets and getting theirs before it is too late."

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