November 27, 2021 

Gold Enters Major Bull Market


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 By bluejay

11/07/2011  12:08PM

Gold $1793.80 UP $39.80
Silver $34.94 UP $ 0.81

The previous entry seemed to paint gold's picture a little too negative. Mr. Armstrong was just commenting on a subjective technical look, taking into consideration how things could change with following technical chart damage.

Here are some of his recent comments:

Our long-term view in NY GOLD maintains that only a temporary high maybe in place at this time. In the event of new intraday highs developing beyond this year, then the final high could extend into2013 if we see a yearly closing above the 2011 high. On the other hand, continuing to make new highs beyond 2013 would warn of a broader rally extending into as late as 2017. However, if new intraday highs are not sustained next year, then 2011 may produce the temporary high on a closing basis as well as on a cyclical basis with a retest of support into 2012 on a year-end closing below 131050. To remain in a bullish position for 2012, gold needs to close above 143600 at year-end.
 By bluejay

11/06/2011  8:23AM

The broader price picture on gold from Martin Armstrong:

Gold on the Quarterly Level has not broken through the primary channels technically constricted from the Breakout Lines of 1985 and 1999. Our oscillators are showing that we are starting to turn down and the Entropy Model shows that this too is starting to turn down. These indications warn that a retest of support and consolidation may be necessary to rebuild a strong base of support from which to advance further in the years ahead. A Quarterly closing below 148000 will indicate that the trend will turn back down to retest support. A closing below 130900 will not indicate that a bear market could be developing into 2013 or at least a near-term consolidation. The major support begins at 111300 and a quarterly closing beneath this level will signal a sharp decline becomes possible down as far as 850000
 By bluejay

11/03/2011  4:26PM

Greece is a financial time-bomb ticking away. If Greece decides to go it alone and leaves the Euro there will be massive financial consequences around the world for all connected banks and their customers. If they remain with the Euro, it will just take longer.

Will the Fed throw Greece a lifeperserver in preventing a fall-out from rippling over here? Quite possibly but at whose expense? Certainly not any of the big US banks whose crooked accounting ledgers would be laughed at out loudly by anyone who really knew what their condition was in.

People are in the streets today because they have been hosed at the expense of keeping the casino playing banks from going bust. A gigantic mistake made during the days of TARP legislation was not taking the burden off some from the strained mortgage payers in reducing their balances and payments due by 25%. Martin Armstrong has stated that this act would have prevented all the misery that families have suffered and would have stabilzed the housing market some while its downward cycle was generally in force for many years ahead. But for the banks to take a haircut to keep the economy going was too much to ask for.

Fortunately, starting in mid-2012 Martin Armstrong expects home prices to trend higher for the following three years then more of the same later.

By 2015 it would be not a surprise to see gold near or past $5000 an ounce. In ResourceWorld Magazine's current issue Nick Barisheff the president and CEO of Bullion Management Group Inc says that gold is on its way to $10,000.

Buy gold and silver and invest in your future.

11/03/2011  3:18PM

Bluejay, you’re right that the Judge is to represent the people of the County. Superior Court Justices are elected by the people in a general election, AND the term of Presiding Judge John P. Kennelly expires January 2013. That means that in the Nov 2012 General Election County residents will be voting for a Superior Court Justice.

Plus 1 for grass roots is a possible campaign that can affect the election results.

Is the next phase of the case before a Judge alone, or can a Jury be requested? Plus 2 for grass roots is having a Jury that that clearly understands how the $2 million fine is destroying the opportunities for a large number of residents. The County could lose mining jobs and all the secondary jobs, shop owners, builders, etc that depend on the mining jobs. The even much greater danger for mining in the County is that a finding against the Mine will Embolden the Water Board and other regulators as well as set a precedent for future abusive legal actions against all mining companies, not just the Sixteen. This will Destroy the economy of the County for a long time. I really believe that the future of mining in Sierra County is at stake here. County residents need to know what is going on, how it affects them, and what they can do about it.
 By bluejay

11/03/2011  1:29PM

Gold $1764.10 UP $26.70
Silver $34.51 UP $ 0.24
XAU/Gold Index .1185(50 AVG. .1168)

Aside from Armstrong's cycle projections, the European Central Banks unexpectedly lowered interest rates today thus resulting in demand for gold.

The whole fiat monetary system has begun slowly coming apart at the seams. Few world politicians understand what needs to be done and few, if any, will admit their ignorance. The name of the game for them is to retain their power and status by printing more money and exponentially increasing debt.

We all need to be our own central bankers. Holding physical gold and silver while reducing debt, if possible, will be the order of today for tomorrow's survivors.

Gold has bettered its 50 day moving average line at 1730.75 and needs to stay above it for any sustained upward movement over the near term. The XAU/Gold ratio continues to remain above its 50 day average with the last being above the .1168 level. The possibility improves of the shares being better performers against the metal at current levels.
 By bluejay

11/03/2011  12:41PM


I think the lynch mob mentality of the State has us where they want us, in court awaiting a judge's decision based on missed reports and their excessive penalty charges. When governments in the past got caught with their legal pants down they blew up buildings and destroyed records.

When the Water Board was proven incompetent by experts provided by the company all hell broke out against the accusers. The Board even lost(destroyed) important documents. The Board even failed to acknowledge that our mill was closed and never issued a reclassification for reduced water testing thus failing to competently represent the people of California and continued their questionable personal stance against the company and especially, its president.

It's now all left in the hands of, hopefully, a judge who represents the people of California not to punish a company and shareholders into liquidation of their prime asset for failing to file some reports.

I understand the subject matters before the court. What does it prove to put a company out of business when they could be made whole and be productive and in the process be an important employer in the County again providing jobs and State revenues?

You would think, aside from abusively regulating us all to death, that State politicians could attempt to be creative in figuring out ways to improve job growth for revenue as opposed to the ATM Debt Machine and the stealing of other peoples properties.

We must never forget that the laws that apply to our case were not voted in by the people, they were created by appointees and were crafted personally in a sense against our company because we had a president who fought for our rights as property owners and our rights to participate in running a business.

We need a Patriot to end this nonsense.

11/02/2011  9:54AM

I don't know if the Mine can get all or part of the $2 million to pay the Water Board fine. From the little information that I have about the case, I think that the State would do whatever it feels it needs to do to force the Mine to get the cash. If the Mine can get this money over a couple of years, I would suggest the following as a powerful first step. On whatever social medium the Mine is a member and in the Mountain Messenger, Sacramento Bee, etc. explain in detail how the Water Board fine came about, what happened in Court and the injustice of the fine. Then make a statement that if the Mine did not have to pay this fine, $2 million would be used to hire miners and pay salaries. So the choice that the VOTING public would have is a) do nothing and see $2 million go to the State, or b) mobilize resistance against the fine and get X number of JOBS. Of course this all depends on the ability of the Mine to get the money. If choice b) is taken, then I don’t think that the Water Board stands a chance to get a single dollar. Choice b) also buys time by delaying the whole process by a year, maybe 2, and it raises public awareness of the situation IN AN ELECTION YEAR. If successful it also sets the stage for bringing together the Mining Community and the State Regulators to negotiate a balanced set of regulations that both protects the environment and encourages mining companies to get back to the business of mining. There is enough money at $1720.90 an ounce to accomplish both these goals.
 By bluejay

11/01/2011  9:56PM

Reap and Rick, lead the way.

Gold $1720.90 UP $2.10
Silver $33.79 OFF $0.16
XAU/Gold Ratio .1158

It is suspected that gold and silver will trend lower over the next weeks ahead.

Gold is experiencing resistance following recent strength as it approached the 50 day average and briefly passed it on the chart at the 1732.64 level. ($gold).

Silver is backing down as well from its 50 day moving average at 35.84 while the same average has recently sold beloiw its 200 day line at 36.36 which is threatening its overall short term health.

It is expected that both metals will be inclined to be in the defensive mode as backing and filling continue during this overall resting period down from highs made made months ago.
 By Rick

11/01/2011  5:42PM

Reap! I've been pushing cyber recognition of this egregious situation with scant results....but the Mine is finally offering a Facebook page....but as we know this isn't the end of the potential; hardly even a blip on the radar.

ALL: let's take Reap's advice and do everything we can to energize the movement. Reap will organize us....we will expose the crap and shut the a-holes down to a point of our recovery.

We are at the brink.

11/01/2011  12:27PM

Bluejay! Thanks for your reply. The Haile Gold Mine case is seen as important and potential precedent setting case for the entire Mining Industry. It made the headlines on several International Mining websites.

I TOTALLY agree with you! The lawmakers and self-serving politicians don’t understand the economy and can’t or will not do anything useful. The $2 million is just a short term money grab that will have Very Negative consequences for the Mining Industry and the People of Sierra County for a LONG TIME to come. The County is in Real Trouble right now, and people are HURTING. As you say, the County is very rich in resources, but these half-as** politicians are unable to see past their own petty careers. They have totally bankrupted the State with the greatest natural wealth! Sierra People are HURTING and they don’t see any way out. But there is a way out….if they would organize and channel their energies into making Sierra County wealthy again and a great place to live.

Thanks to the blessings of Saint Steve (Jobs) for the first time in history, there is a chance for Real Democracy. Personal computing devices + internet = Democratic Power to the People. The “Arab Spring” and the “Occupy” movement are dramatic proofs of this. The uprising of the people in Lancaster County, South Carolina in favor of the Haile Gold Mine is an immediate demonstration of what can be done by the will of an organized populace.

I compared the demographic statistics for Lancaster County to those of Sierra County to see how their case would scale in our county. The most recent data is for Aug, 2011 from the Federal Bureau of Labor Statistics. For Lancaster: 30,252 Total Workforce; 4,591 Unemployed; 15.2% Unemployment Rate. For Sierra: 1,590 Total Workforce; 227 Unemployed; 14.3% Unemployment Rate. Lancaster is a larger county with a 1% higher rate of unemployment. So now let’s scale:

Lancaster County:
200 people complained 200/30,252 = 0.66% of Workforce
800 jobs created 800/30,252 = 2.6% resulting in a new Unemployment of 12.6%

For Sierra County to scale:
0.66% X 1,590 = 10.5 people need to complain
2.6% X 1,590 = 41.3 new mining jobs need to be created.

Mining in Sierra should be able to mobilize at Least 10 times as many people for a lot more than 41.3 new jobs in the whole County.

The moral of this story is that what was done in Lancaster can be done in Sierra, and so much more. The Town Hall is a device that Lancaster used to drum up support. With the higher penetration of PC’s, Macs and the internet in our County, organization and mobilization should be easier, faster and bigger. Besides the Social Media used in the Arab Spring, there is also excellent software that provides for a real time virtual Town Hall. A couple of these are GoToMeeting and GoToWebinar. Via the internet people can be organized around common issues to create a large grass roots movement. Then real face-to-face Town Halls can be scheduled with the Regulators and Lawmakers invited to “Face the Music”.

I guess that the Bottom Line is that the $2 million Water Board fine demonstrates that the Legal System and the greater overall State System is a greedy and unresponsive Dead End. The only alternative that I see is a grass roots movement which if done well is far more powerful than legal fighting. Remember, 2012 is an Election Year!
 By bluejay

10/30/2011  12:46PM


Your example in South Carolina of what can happen between mining, consideration for the environment along the will of some of its people is an excellent example of the beginnings of putting folks back to work. Career politicians have miserably failed in representing the people. Being an elected official is an honor that must be respected!

Unfortunately, for the great majority of lawmakers it's all about them and what they can suck out of the system. This travesty has, as everyone knows, has brought a great deal of Americans to their knees and has broken up many families over money issues that these politicians, themselves, have created.

One familiar with history knows exactly how this country was built, excluding all the engineered wars around the world for the benefit of the munitions industry building killing machines.

America's wealth came from the fields of agriculture, ranching and the mining. THAT IS THE CREATION OF REAL WEALTH, NOT A PRINTING PRESS. Now the people behind the curtain with the aid of paid-off politicians are trying to destroy America's original fiber that supported our evolution from those early days.

Americans need to get organized to stop this vicious trend moving toward its self destruction. Reap, Town Hall Meetings are where it must begin.

The Sixteen to One Mine is a gold pocket mine that in past years has found it difficult to financially manage itself as a result of its ore placement. In our managing a feast or long enduring dry spell in the pursuit of gold, the State has kicked us around with nothing better to do adding to our burdens.

One of the most intelligent men in the world, Martin Armstrong, has repeated stated that we are over-regulated by leaders that don't know how to manage an economy because they don't understand it. The usual expected result is for them to trash it. Printing money and placing debt proves they are confused and don't have a clue.

Sierra County doesn't need outside regulators to direct how we are all going to survive. The Coutry has abundant natural resource wealth and it's about time things changed. The people need to be told that it's time to extract our golden treasures and be independent. Everyone needs to turn off their TV's and reintroduce themselves to the independent creative thought process.

The sheriff with an expanded staff can run the county. We don't need any more outside interference from career politicians who could care less about us. The CDAA visit should have awakened contry residents to what is coming. This incursion probably was one of the most shameful acts perpetuated against Sierra Country folks by the State.

California has been ruining our lives with their financial mismanagement and trying to control us like trained circus animals for way too long. What ever happened to our self respect??

Thanks to Reap, we have an idea of having town hall meeting as to see what direction we want to pursue. Either getting folks back to work and regaining some self respect, or continue doing nothing and expecting more of the same from the State politicians.

This $2 million plus suit against potentially one of the Coutry's largest employers is nothing more than an attempt to steal property and beat down residents again with more abused power santioned by the State.

When is enough, enough???

10/29/2011  2:03PM

Hey Bluejay, I’m not quite sure in which Forum category to post this. I chose yours because it demonstrates the powerful leverage that current high prices for gold can have on a Community. This ever strengthening Bull Market for the Yellow Mineral has caused a Community in South Carolina to give Very Strong support to a mining Company. Here is what I think is a very interesting article published yesterday, Friday; “Gold mine plan draws avid support … Many of 200 at hearing covet 800 jobs mine would bring”. Here’s a link to the full article:
It’s about a very large open pit gold mine, Haile Gold Mine, in South Carolina. I know that this is different in at least two main areas. First, Sierra County gold is found in underground pockets of hard rock. Second, 800 new jobs is probably much larger than that which could be created in the County. But it seems that Haile faced similar problems: environmental issues; Federal and Local Government, etc. They also had the disadvantage of having the site mined by a foreign corporation. But to me, the most important point is that they had one or several “Town Meetings” in which they demonstrated that their plans for reopening the mining operations would be a great benefit to the hard hit Community. Has anything like this ever been tried in Sierra County? Like Lancaster County, Haile’s location, Sierra County has a high unemployment rate. Also like the Haile mine, the Original Sixteen to One Mine has major water issues. Strong public support forced officials to find a satisfactory compromise between improving the local economy with jobs and protecting the environment. Remember, it only took 200 people! Could a Town Hall(s) focusing on job creation in mining help overturn the $2 million fine unfairly imposed by the Water Board? Might it also greatly improve the economic future of and political support for mining in the whole County?? I’m new to mining, but “my very humble opinion” is that there is probably a large pool of pro-mining public support that can be created and tapped to improve both mining and the economy of the Sierra County.
Strong public support can be translated into another benefit, greater access to cash, both debt and equity. I own a small dormant gold mine/patented claim that seems to have good potential. So I’ve started to explore some possibilities. The first reaction that I get, which is also universal, is that the government regulations and restrictions in California are too burdensome. I feel that with strong public support the environment for mining in the State could dramatically improve. This would significantly increase the interest of possible investors.
Anyway, this is the Management Consultant half of my brain talking. Creating public support is essentially a “Basic Marketing” job. I don’t know the history, attitudes, or concepts that the local people have about gold mining. But I think that it is worth looking into. I would appreciate anyone’s feedback on this.
 By bluejay

10/28/2011  1:15PM

Gold $1744.80 DOWN $0.90
Silver $35.20 UP $0.11
XAU/Gold Ratio .1193 UP .0029
Gold/Silver Ratio 49.57
XAU Index 208.20 UP 4.84
HUI Index 584.07 UP 15.84

In a lackluster day for gold and silver something very interesting is happening with the gold and silver shares. The strength of the miners against gold has improved 2.5 percent at .1193 since yesterday as the last on the XAU/Gold Index has bettered the 50 day average at .1166. Usually when moving averages are penetrated they signal a change in direction. We'll just have to wait and see if trading above an important moving average holds up which will indicate the shares could finally be starting to outperform the metal.

If this is the case, the million and millions of shares(naked shorts) that have been sold with no delivery intentions could get a real fright in the weeks and months ahead.

The above development is quite interesting with the Dollar Index at 75 last which is very near to support in the 73-74 zone. The currency is about 5 points lower since the beginning of this month.

It would certainly appear possible for support to give way with the 50-200&1000 day moving average lines all providing barriers of resistance above. The downside action under a weakening Dollar scenario, beneath its established support zone, could plummet it to the 65 level which certainly would bring buyers back into gold, silver and mining shares.

Aside from this positive short term development, it is best to keep in mind that the dark forces seem to perpetually concoct selling pressure on our group and a buying reserve should ALWAYS be maintained for bargain prices.

The opinion here is that the paper charade of consequences for gold and the shares continues to be possible from these miscreants but their days of manipulation are growing limited going into the future with a major gold exchange opening in China in July of 2012.

It is expected that when China is open for business trading volume on the Comex and in London will shrink. So, the days of rising margins for gold and affecting lower prices at the Comex, especially, may just become mute.

We should also keep in mind that Martin Armstrong's cycle studies are indicating that gold is just not ready yet for its major push to the $5000 level and some more consolidation, with possible lower prices, could be with us for an unknown limited amount of months ahead. Mr. Armstrong expects the "big push" to begin no later than July of 2012.
 By bluejay

10/26/2011  1:00PM

(Kitco News) - U.S. Mint sales of American Eagle silver bullion coins have already broken the all-time annual record in 2011 with two months to go, reports the Silver Institute. The organization says that sales of 34,662,500 ounces in 2010 was the previous record. The Mint’s Web site currently shows that sales for 2011 to date are 36,375,500 ounces. “Monthly sales are averaging 3.7 million, and if the pace continues until year’s end, total sales could top 44 million for 2011,” says the Silver Institute in its October edition of “Silver News.”
 By bluejay

10/26/2011  12:34PM

Gold $1723.70 UP $19.10
Silver $33.23 DOWN $0.04

Don't think twice about replacing payment for oil with dollars hence the bogeyman may visit you, too.
 By bluejay

10/22/2011  9:35AM


The following comments from Bob Chapman today may address some of your curiosities:

The system is not working and no one wants to admit to it. The players do not know any other system, so they do not want to abandon the one that they have. You cannot maintain the system by creating more unpayable debt. The system that is currently functioning can’t continue to do so indefinitely.

As a result of these conditions and volatility many investors have left the markets and their assets have disappeared in a cloud of smoke. The big investment firms front running the market, naked shorting and government manipulation have driven many to cover.

Just this week we had two professional commodities traders close their accounts after having been successful for more than 20 years. They were simply tired of the manipulation and losses at the hands of their government. Over the past five years hundreds that we know of have quit. Before long there simply won’t be enough players left in the paper commodities.
 By bluejay

10/21/2011  7:57PM


I have never made a trade in the Forex market or purchased or sold any commodity on a commodities exchange.

I would suggest either contacting Bob Chapman or Martin Armstrong for some experienced background comments.

10/21/2011  10:51AM

Dear Bluejay, I have a Trading question for you. The relative values of international currencies fluctuate constantly, often moment to moment. Currency Traders working on the FOREX Market get very rich on split second arbitrage trades. The value of an ounce of gold in each currency also fluctuates. In contrast though, gold is traded in many different Markets. Do the FOREX currency-currency fluctuations and fluctuations occur simultaneously and in exact proportion? From a bystanders view, it seems that because currencies and gold are traded in such different markets they need not be synchronized. If they are not, even if there is only a very short time delay in the fluctuations, then there is another arbitrage opportunity: “currency A”“currency B”-“currency A”. I’m interested in hearing your thoughts on this. Thanks! Ron
 By Michael Miller

10/21/2011  8:34AM

Appreciate your thoughts on margin requirements for gold. By increasing the amount of dollars to buy 100 ounces of gold, the approach of those market players will significantly change. Do you think the market would become more speculative or less speculative? Volume will likely be less but how about volatility in pricing?

Many understand that gold is the "real " value or basis in the interchange of transactions and that paper currencies are the floating value. Does it make sense for people speculating in the paper world of gold pay the piper the same percentage of money as those who purchase physical gold?

Finally do you have an opinion on whether margins should be raised or lowered according to some other policy factors manipulated by bankers or US government regulations?
 By bluejay

10/12/2011  7:14PM

Gold $1679.20 UP $4.70
Silver $32.49 DOWN $0.09
Gold/Silver Ratio 51.68
Xau/Gold Ratio 0.116

Some strong remarks today from the International Forecaster's Bob Chapman:

As far as we can determine the bottom in gold and silver began to be set two weeks ago, they have moved upward, but not as quickly as we had anticipated. The Working Group on Financial Markets has been attacking gold and silver still, but not with the firepower that they are capable of.

It looks like a delaying action in anticipation of further EU problems and forming an opportunity to accumulate long positions. We, via the COT commercial net short position reduction, see the big banks anticipating a strong upward move in both metals. We see such moves in spite of higher margin requirements by the criminal CME, owner of the Comex.

Government participation in manipulation of the dollar as well as gold and silver as usual emanate from the Exchange Stabilization Fund a subsidiary of the Treasury. Such antics killed off a move in gold to $2,200 and silver to test $50.00 again temporarily. We should see the major move in both metals shortly and by the end of February could see $3,000 gold and $65 to $75.00 (on silver). It depends in part on events and the government participation in the market.

Again, due to the speed of the downward move all small and medium players were again wiped out, as the banks earned large profits having rigged the results along with the government. Gold and silver will prevail and achieve much higher prices in spite of government and banking interference.

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