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Topic:
Gold Enters Major Bull Market

       

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 By bluejay

06/05/2010  2:35PM

A rare interview with the Hugo Salinas Price of Mexico concerning gold and the possible reintroduction of silver peso coins back into general circulation. Put that into your pipe and smoke it J. P. Morgan.

http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2010/6/5_Hugo_Salinas_Price.html
 By bluejay

06/05/2010  10:45AM

Hi Rick

I look forward to responding to your question. Can you please be a little more specific?
 By Rick

06/04/2010  8:40PM

Bluejay....what do you think of what is written below this topic?
 By bluejay

06/04/2010  3:28PM

Last on gold $1220.10......up $12.30
Last on silver $17.38....down $0.57
Gold/Silver ratio 70.21
Gold/XAU ratio 7.22

It appears central banks had an orchestrated plan to support the Euro today but market forces overwhelmed them. Prior to New York's opening, gold was forced lower to $1195 in London trading. The Euro was a little firmer to $1.2070 following the NY opening but started eroding and continued for the balance of the day, closing at $119.64 - off 1.69%. Over the day, gold continued steadily higher.

The real news today is J.P. Morgan's efforts to take the monetary shine off silver which they are heavily short by relating it to Copper's weakness in hammering it lower with more paper sales. The copper price broke critical support earlier in the day at the $2.95 to $3.00 a pound area. The metal closed at about $2.825. Silver closed off $0.57 at $17.38.

As everyone here knows, gold and silver have been used for money since practically the beginning. Now, we are witnessing Morgan helping it down along with copper, as gold ascends. For all practical purposes, silver's usage as an industrial metal has been growing along side historical buying by the public as a hedge against their eroding purchasing power.

Currently, you can trade in one ounce of gold for 70 ounces of silver. In the last year buying silver each time the ratio exceeded 70 has been a good time to exchange some of you Federal paper for it. On the conclusion of this missive, the phone will be picked up and an order placed for more silver one ounce Canadian Maple Leafs.

Will Morgan's apparent effort for a disconnect between gold and silver last? I guess you would have to ask the CFTC how many more short positions in the metal they will permit Morgan to hold.

According to west Texas Mike from krld.com radio at 10.07 PM Sunday nights, our recessionary spiral is deeping. This will probably effect silver demand to some extent.

A pertinent question is, will the -growing lack of confidence- in governments around the world motivate enough people to make up for the extra available supply of silver with additional purchases due to the expected lessening of demand from industry? Take your pick.

India used to import 700 to 800 tons of gold a year. Last year when gold spiked higher their demand was cut back to 200 tons. This year it is expected that they will import 422 tons. The people of India are bargain shoppers when it comes to their precious metals needs. Silver is in a declining mode with bargain basement prices almost here according to the Gold/Silver ratio. It will be interesting to watch the clash between paper short sellers in silver by Morgan and friends along with a suspected increasing demand for the physical metal from this section of the world.

A quick few words concerning the Gold/XAU ratio. The ratio at 7.22 is clearly favoring gold over the gold and silver related shares. The trend is firmly entrenched for this continuing, at least, over the short term. If the ratio continues higher, possibly approaching the 8 level, it is suspected that it will have gone too far and will be ready for a decline. When it reacts, the precious metal stocks outperform gold.

Got your gold?
 By Rick

06/02/2010  5:46PM

Simply put, debt accumulation without a foundation is doomed to fail. This is so simple I wonder why some believe in the tooth fairy.

Ah... This brings up the explanation: people do believe in the tooth fairy, and the reason why Bluejay cites his sources. (I remember getting 10 cents for a tooth and then wondering what the scam was all about...I did the practical thing and asked my parents why they were wasting a dime. After all, what good was a tooth when it was unable to bite?)

When debt has no backbone, nor teeth, it is a recipe for riff-raff to eff with the whole balance.

This was all spelled out when we first heard of "Build a house upon sand vs. upon rock."
 By bluejay

06/01/2010  8:00PM

Last on gold is $1223.40.

Price analysis in markets has always been a difficult art to master. It involves three important factors: fundamentals, technical observation of the charts and historical perspective.

It has recently been accepted by a minority that historical perspective is more important than simply reviewing current charts and fundamentals.

Martin Armstrong from http://www.martinarmstrong.org has been one of the pioneers in this area but others have preceded him. Millions and millions of dollars along with untold exhaustive hours have been spent over recent years in understanding what motivates markets to change.

Mr. Armstrong's research results can be accessed by reading all his commentaries from the above linked website.
Instead of going into his conditional premises for predicting the future, it is advised that each one of his articles be read and digested. If you don't get it all in your first effort, read it again until it completely gets absorbed.

Take for example the housing bubble that has popped: the politicians and the media state that a turn is just around the next corner. This is a lie. According to historical perspective provided by Mr. Armstrong the declining home values will continue until the year 2012 then rebound to some extent until 2015. Following in time, expect values to decline to new lows and flatten out, maybe, in seven years of so.

So what the government, the politicians or the media speculate about concerning home prices prior to 2012 is all BS. Being able to state this is the direct result of being educated by Mr. Armstrong.

Since this is the gold market section, Mr. Armstrong has stated that gold is pushing up against a glass ceiling, which means we are pushing up against the upper channel in an established ascending trend formation. He expects gold to push through this ceiling then decline back to the break-out point then following, the metal will put in some sizable gains.

Mr. Armstrong has some enlightening words in his last few articles concerning the U.S. stock market that will give you some cause to be concerned if you are invested in this area.

The State and Federal politicians plus the big New York banks have plans for our wealth. An education being provided free of charge to you by Mr. Armstrong will quite possibly insure your family's financial survival.
 By bluejay

05/30/2010  9:29PM

Last on gold is $1212.20.

The link below is to the kitco.com released article entitled Hidden Dollar Swap Hammer by Jim Willie.

Mr. Willie is a Patriot who has proven this over and over again by keeping the public continuously informed of the "real news" combined with his worthy opinions and predictions.

http://www.kitco.com/ind/willie/may282010.html

Also, check out some startling comments made by Felix Zulauf of Zulauf Asset Management to Eric King in a recent interview at http://www.kingworldnews.com .

Got your gold?
 By bluejay

05/28/2010  6:14PM

Gold closed out the week on demand at $1214.30.

In The News Today
Posted: May 28 2010 By: Jim Sinclair Post Edited: May 28, 2010 at 5:03 pm

Filed under: In The News

Dear CIGAs,

David Rosenburg, an investment analyst out of Toronto, was featured on Bloomberg today until he made a gold price prediction of $3000 which he classified as most likely too conservative.

The interviewer made the mistake of asking him why. His answer was immediate and surgical.

You should have heard their attempt to flush him. All you could hear was David, David, David, as they tried to shut him up.

Well done David.
 By bluejay

05/27/2010  9:39AM

Last on gold is $1211.50 as it acts peculiarly firm: the Euro drops, gold advances - the Euro strengthens, gold still advances. Each time gold experiences daily weakness, it is followed by a quick snap-back.

This is all taking place as the media continues with their daily assaults on the noble metal. Now the Wall Street Journal is getting into the act with a "not so nice" three part appaisal of the gold market written by Brett Arends.

This morning a notorious gold hater, Jon Nadler, from Kitco has written more catty comments in his article, Baubles Sell, Bubbles Swell." http://www.kitco.com/ind/nadler/may272010.html - Nadler has so much praise for Arends' words that it might suit them both if they got a room together and left the education of gold to Martin Armstrong and Jim Sinclair. For some educational input concerning these gold haters check out the book, "Gold Wars" by Ferdinand Lips.

The fact of the matter is there just ain't enough gold to go around for everyone to protect themselves in the midst of of one of the greatest bubbles in the history of the world, DEBT.

When this bubble pops, folks who haven't insured their wealth with hard assets against this pending debt implosion fiasco being helped along with vastly expanding world fiat currencies will only have the mind-controllers of the media to thank for their family's losses.

It has never been reported in the media that people buy the most amount of gold when they sense their government has been remissive.
 By bluejay

05/24/2010  11:09PM

Gold's last sale is $1190.80 being pushed higher from recent lows at the $1170 level by a declining Euro. The currency's last sale against the dollar is 122.86. Remaining below 125.00 leaves the door open for continuing erosion.

A new Martin Armstrong article is available. Mike and Rick will be interested in its content, as everyone should.

http://www.martinarmstrong.org/files/Immoral-Not-Illegal-a-Crisis-in-Ethics-Repeating-the-1930-s-5-20-10.pdf
 By Nose 4 Gold

05/20/2010  12:09PM

Food for thought. There are over 650 gold projects in the world with reserves of over 1 million ounces. If the world consumes 75 million ounces a year, present reserves with no new discoveries will last 56 years.
 By Nose 4 Gold

05/20/2010  12:08PM

Food for thought. There are over 650 gold projects in the world with reserves of over 1 million ounces. If the world consumes 75 million ounces a year, present reserves with no new discoveries will last 56 years.
 By bluejay

05/19/2010  3:39PM

Mike might really have a fit with all the print that's being put on lately but we are in historic times and the following from Trader Dan and Jum Sinclair from the jsmineset.com website is important:

Gold is becoming the currency of last resort and that it not going to change because a Central Bank floods a system with liquidity and makes money available. The effects of this compounded increase in the amount of money in the system are going to be felt in an inflationary outbreak down the road. You will be glad you own the metal then.

I personally think that the more the price riggers jack with the system and play games in the paper market, the higher the price is eventually going to go. The harder you press down on a spring to compress it, the more fiercely it uncoils.

Nearly any astute investor OUTSIDE this country now knows that the paper Gold market is being rigged by the US government and its pals at the bullion banks. They are using that to their advantage as the short sighted fools of the West cede any economic advantage to the rising powerhouses of the East. Whoever owns the gold will rule the world. It really is that simple.

There really is something about gold that people can understand who are watching their currencies implode. No amount of bullion bank chicanery and official sector theft is going to change that. Gold is real money and always will be in the minds of the public, even though a war against it has been waged for three decades in the West.

Best to you,
Trader Dan



Jim Sinclairís Commentary

I would like to add my voice to this quote from Trader Dan.

It will be the various Goldmans that will make the most money in gold after picking the traderís/scalperís pockets dry.

"I personally think that the more the price riggers jack with the system and play games in the paper market, the higher the price is eventually going to go. The harder you press down on a spring to compress it, the more fiercely it uncoils."
 By bluejay

05/19/2010  3:13PM

Last on gold is $1193.20.
Last on silver is $18.23.

Just ran into the linked story below concerning Democratic Representative Anthony Weiner from N.Y. pointing the finger at Goldline International a precious metals coin dealer that advertises on the Glenn Beck Show.

Weiner issued a report critical of the company for "grossly overcharging for coins and makes false claims about gold being a good investment. Amoung other comments that possibly could have merit, I take issue with the statement that publicly questions gold as a good investment.

Why doesn't Weiner do something more productive like an investigative report concerning the loan sharks that are allowed to gouge everyone with excessive interest charges on the Visa and Mastercard accounts at the banks when at the same time these scoundrels are allowed to borrow from the Fed for practically no interest expense?

Was Weiner sauced when he made this irresponsible comment or are people in Congress really super naive and ignorant or are they just a stumbling herd of hacks?

Of course, Beck stikes back with a strong right cross. I know some people who think Beck is really off the wall but he does do his part with an effort to educate the listensers concerning what's happening to their representative wealth and the "out of control" debt factory in Congress that's well on its way to ruining our purchasing power along with the help from Bernanke at the Fed.

http://news.yahoo.com/s/ynews/20100519/pl_ynews/ynews_pl2136_2
 By bluejay

05/19/2010  10:18AM

Last on gold is $1191.50.

And the media's drum beat goes on - forecasting $800 gold.

Today, it is Fortune Magazine http://money.cnn.com/2010/05/19/news/economy/gold.price.collapse.fortune/ marching through the gold party with the cartel's $800 streaming banner flying high in the public eye. It must have crossed the minds of independent thinkers that have read Fortune Magazine during the past, why hasn't the publication reported on the benefits of owning gold with projections of higher prices since it has been the best asset performer while the Dow Jones Averages have basically remained stagnant? Who does the publisher take his marching orders from?

It must be nice to have a losing short position in gold and have one of your friends, hopefully, bail you out with a negative report. Oh, the power of the press.

Gold is currently digesting a forced bull market reaction with it being off today $31 today at $1192.00, which is fine. It's just another opportunity to buy more at a great discounted price but obviously, Fortune has accomplished their goal today with their handlers marveling over the easy victory. Little do these fear mongers realize with this weakness: this market event will just be another bull trap for them to be punished further with continuing new highs down the road.

At the moment, gold is off $31 for the day. The move down from the recent $1250 high represents a decline of 4.9%.
With a last of $1189.50, the metal may or may not continue descending to test strong intermediate term support at the $1170 level.

The miscreants may still have another shot left in them to push gold temporarily lower from current levels with how they report this decline in their controlled media outlets.

How does today's cumulative 4.9% decline from a 1250 high stack up against other weak phases since last December in this major bull market?

1) For the month of December gold dropped from 1218 to 1075, a 143 dollar decline or 11.7%

2) For the period from January to February gold dropped from 1162 to 1053, a 109 dollar decline or 9.4%

3) During March gold dropped from 1144 to 1085, a 59 dollar decline or 5.2%

4) During April gold dropped from 1070 to 1023, a 47 dollar decline or 4.4%.

Using just the last two representative periods of weakness for comparative purposes, as a basis for a possible glimpse into understanding this market's intentions, it is very possible that this manipulated weakness has seen its day.
 By bluejay

05/15/2010  1:32PM

Gold closed out the week at $1231.40.

Jeff Clark from Casey's Gold and Resource Report says gold is talking:

I wonít always be this cheap. If you donít buy me soon, you may regret it. I may get less expensive in the short term, but donít mistake that to mean Iím losing value or that everything is fine with your paper currencies or your economic future. What youíve done to your fiat currencies will hurt you. What is coming in terms of the price of things will overwhelm you. What the government has debased will haunt you. Iím here to protect your finances. I may be the only thing that can really do that.

You can be cautious about the price, but donít be short-sighted about the purpose. Are you sure you own enough of me?
 By bluejay

05/14/2010  11:35AM

The Take Down

In London gold overnight trading the metal hit 1250 where it sold off a little to stabilize above 1245. When Comex opened this morning the metal drifted a little lower, had a little bounce back and then got hammered down to 1217. Following the concerted take down, gold had rallied back some with a last of about 1228.80.

This is the first real attack we have witnessed in past weeks of strength. The banks knew of this take down as it was planned ahead of time. Bullion banks were issuing naked Comex shorts yesterday in gold and silver as if they were passing out free cotton candy at Coney Island without takers realizing that they would have a stomach ache the next day. Isn't it amazing that some Wall Street banking firms show a profit everyday from trading?

The $30 take down this morning in dollar terms might get your attention but it was only 2.4% compared to the advance that started 11 trading days ago when gold pushed above a positive chart formation at 1170. Following that time period it advanced from 1172 to 1250, a gain of 6.7%. With the current trading price of 1132.50 gold is only down 1.4% from its high point of the day.

It's guessed that the semi-round number of $1250 scared the fiat manufacturers around the globe so much that some entity was elected to act in holding off the people in another attempt to scare them from turning in their fiats for gold and silver and related items. Remember, the REAL reason that gold is experiencing heavy demand: Loss of Confidence in Governments to Rule. Recent buyers have been educated enough to understand that governments will turn against their own people when their power base in threatened. One step is to devalue, quietly, their currency's purchasing power as the presses run 24 hours a day in their muffled basements. History is littered with the strong hand of the people when their life-style to survive becomes compromised as a result of the excessive self-interest by their leaders.

No better example of this mind-set to survive and maintain their power can be shown than what these banksters did with the government's blessings to the community in 2008 when they were threatened with a run on their banks: demean and devastate gold by selling prices as low as possible. Well, that didn't last long.

This style of unbridled greed, with regulators asleep next to them, caused every holder of precious metal related items severe losses. Some Canadian mining shares, with a slaughtering hand being slung by their related investment banks up north, were almost reduced to financial ruin. Drops of 90% were not unheard of.

Martin Armstrong stated that the Transitional Phase in gold has begun which will carry it to about $2500. So, expect gold to double in price with continuing attacks along the way from these miscreants. A remaining question is, over what time period? If the derivative's global expanding financial cancer is any indication, it'll be sooner, rather than later.
 By bluejay

05/11/2010  7:50PM

The major gold bull is alive and well.

After hitting an all-time high today of about $1234 gold is currently taking a breather in after hour's trading with a last of $1228.

Following a tentative fix to the Greek problem over the week-end, the bullion banks with aid from the Plunge Protection Team tried to pull the rug out from beneath gold before NY markets opened but it miserably failed, even after their foolish pre-opening sales were made all the way down to $1185.

The bullion banks are short and hurting. There is no sympathy here for them. These are the same people who are responsible for keeping pressure on its price and burdening gold mining companies that depend on a good price for their product to pay their bills. Currently, the major gold producers are working with a $200 plus profit margin due to high operating costs and for the smaller producers, they are lucky to show a modest profit at all.

The shorts in gold are hurting so much that they are squealing to other banks like Barclay's and Societe General to talk it down by making crazy projections each for $800 an ounce by the end of the year. What desperate foolishness.

The banks in general are like spoiled little brats, always insisting on having it their way by resorting to crying out like little babies over spilled milk wanting someone else to always bail them out. It's an old, pathetic and tiring story to endure.

Isn't it enough for the banks to have the GAAP's changed for their benefit and have their competition reduced where in this country now six banks control 60% of the action according to east Texas Mike from the KRLD radio show last Sunday night? Who knows the dollar amount that they got bailed out for with our money that was funneled through the IMF for the Greek bonds they were holding following the recent $1 trillion bailout. Enough is enough. The banksters are like the persistent squirrel at the bird feeder, taking what was not intended for them. Stealing is the first word that comes to mind.

Now, on to more positive thoughts from Martin Armstrong from his March 23, 2009 essay, Destroying Capital Formation - Economic Suicide:

(Concerning gold)

"The next technical barrier will be slightly above the current high(1040), forming at the 1100 to 1200 area. Once we begin to see gold above the 1200 level, then we should start to see the Phase Transition type move that will carry it upward to about $2500. It is still entirely possible for gold to even reach $5000. That is the extreme projection that would signal serious decline in Public Confidence in government as a whole. Reaching $2500 is a normal stage of market development."

Mr Armstrong's empirical analysis is straight and does not have an axe to grind like the cry babies do, he calls it the way he sees it.
 By bluejay

05/10/2010  9:37AM

Last on gold is $1199.40 recovering from a $1185 low overnight in London.

On Thursday the DOW dropped more than 1000 points within 10 minutes. The media explained this an order entry mistake, nothing could be further from the truth.

The following link to a KRLD Dallas radio show late last night gives you the facts that will, more than likely, frighten you.


http://www.krld.com/topic/play_window.php?audioType=Episode&audioId=4640594
 By bluejay

05/07/2010  7:29PM

Gold closed out the week at $1208.00.

Check out:

http://www.jsmineset.com

This is the real news.

California's financial mess that we don't hear or read much about is 4 times as grave as is Greece's, Jim Sinclair at jsmineset.com reports.

The promised entitlements for the California teacher's union is $540 billion in the hole.

Giant protests are due for Sacramento once the public gets fed up enough to take to the streets.

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