November 22, 2017 
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Forum
Topic:
Gold Enters Major Bull Market

       

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 By bluejay

01/06/2010  8:36PM

http://www.kitco.com/ind/schoon/jan042010.html is the link to the Darryl Schoon article inadvertently omitted from the entry below.
 By bluejay

01/06/2010  8:27PM

The last sale on gold is $1133.00 as it continues to climb the wall of media doubt up from recent lows near $1075.00.

Linked below is a recent superb article by Darryl Schoon entitled, "The United States of America - An American Tradegy."

In the later part of his essay Mr. Schoon compares the failures of John Law to the potential disasterous events coming to this country partly at the hands and influence of Obama's White House director of the National Economic Council, Larry Summers.

Prior to his currently held position, Larry Summers was the president of Harvard University. What Summers did to Harward was a disgrace that Obama should have taken a strong second look at but failed to do so for some reason.


Larry Summers Gambled Away Harvard Billions

http://www.larouchepac.com/node/12851
 By bluejay

12/19/2009  11:39AM

Gold closed out the week at $1112.40.

The next time you read some media whore presentations concerning their questioning gold as an investment go to this website:

http://www.usdebtclock.org/
 By Dave I.

12/17/2009  8:04PM

Evaluating your gold reserves can be done with taking the Average of past production and applying it to evidence of mine able quarts still in available. A core drilling plan can confirm it.
 By bluejay

12/17/2009  3:31PM

Last on gold is $1099.80.

The industry paints its own picture on how to evaluate a gold property. As Mike mentions, this is done with stated reserves. Reserves are no more than mathematics applied to core testing from a lab. The metallurgy of dealing with complex ores could be complicated. Stated reserves are not an exact science. Extracting infill proven ore from a blocked out area even has its slight variances at times when receipts come in from the milling process, sometimes better, with other times not as good as expected. On balance, it's the best system in identifying, with some assurances, that gold is present.

Unfortunately for drilling in our gold system here in Alleghany, you can throw out the window reserves because drilling only proves up structure with MAYBE a small or larger high grade hit here and there. Experienced miners in the district are worth more than drilling teams because they have a better nose for gold than the drill bit.

What hinders investment in the Alleghany District comes from different fronts:

1- Our inability to get the District's story out to potential investors.

2- The State's complete ignorance as to what supporting a industy will do for creating jobs and increasing revenue. One only has to look to Quebec for a complete mining success story concerning employment and government revenue.

3- Lastly, general concern in protecting shareholder's discovered high grade gold. Sandor can solve this one.

Jean Guy Rivard the once president of Louvem Gold Mines in Quebec told me that the handling of high grade is a concern of all mining company officials.
 By Michael Miller

12/16/2009  1:19PM

The gold mines of this Company have produced about 100 tons of gold. Conservative geologists are comfortable reporting that as much remains within our boundaries and accessible. Over the years geologists have written that as much as 80% of the gold deposited here remains unmined.

Let’s use the conservative opinion. Assume the gold remaining estimate below is correct, our properties have .4% of the gold left unmined on earth. Whoopee! Now here is why the established investment community shies away from the Sixteen to One…we do not report proven reserves. The first question I have been asked over the years by members of the establishment when discussing our mine is, “What are your proven reserves?” My answer is zero because when we see gold we mine it and it goes into inventory. Most companies misrepresent their reserve accounting and the establishment hasn’t a clue how to evaluate the number.

One of my responses to the question is this. “Reserves mean nothing to evaluate this gold deposit. The question you should ask is, ‘ How has this mine and company stayed operating so long without reserves?’” That is the question I want to answer.

The world gold price may be in a lull for a while. Exchanging $1100 for one ounce of the yellow stuff suites me fine. I’m off to the dump. Your comments are welcomed.
 By bluejay

12/16/2009  9:53AM

Last on gold is $1134.20.



Mined gold totals 163,000 tonnes worldwide: WGC


www.chinaview.cn 2009-12-17 00:36:22 Print

SHANGHAI, Dec. 16 (Xinhua) -- All the gold mined so far totaled 163,000 tonnes across the world, an official with the World Gold Council (WGC) said here Wednesday.

Albert L.H. Cheng, managing director of WGC's far east area, said in a lecture about this year's gold market that 83,600 tonnes of the total amount had been used in making jewelries, while individual investment activities accounted for 27,300 tonnes.

Gold reserves held by countries occupied 28,700 tonnes and 19,700 tonnes went to industrial production or other uses, he cited statistics from WGC as saying.

An estimated of 26,000 tonnes of gold deposit remained undeveloped, and the resource will run out for 10 years based on the current mining speed, he said.
 By Nose for Au

12/16/2009  9:51AM

You have to drill an assay hole in the bar. (Not in the standard location.) Most often tungsten carbide is used. When the assay drill hits it, the drill glows red hot.
 By bluejay

12/15/2009  6:34PM

Last on gold is $1125.90.

Posted: Dec 15 2009 By: Jim Sinclair Post Edited: December 15, 2009 at 7:16 pm

Filed under: In The News

Thoughts on Real Gold:

Traditional testing in the past has been by density calculation (mass divided by volume), but tungsten-lead alloys can be created that almost perfectly match the density of gold or silver, thereby rendering that test useless. Additionally, surface testing with acid chemicals or surface x-ray fluorescence is also an invalid test because in these situations, the outer surface layer of the counterfeit bars remains pure gold or silver, it’s only the center core of the bar that’s been removed and replaced with tungsten or lead/ tungsten alloy.
 By bluejay

12/13/2009  1:00PM

Gold closed out the week at $1115.10.

Brent Cook of Exploration Insights said a few months back in the following linked article to stay away from Russia, the Congo, Mongolia, Venezuela, Equador and California. Basically says, California won't let you open a mine.

http://watch.bnn.ca/market-call-tonight/september-2009/market-call-tonight-september-25-2009/#clip217421
 By bluejay

12/06/2009  5:48PM

This Little-Known Rule Could Send Gold to $10,000

Excerpts from the above story that appeared 12-02-09 at kitco.com under commentaries.

According to the U.S. Treasury, $2 trillion worth of debt will mature in the next 12 months. So looking only at short-term debt, we know the Treasury will have to finance at least $2 trillion worth of maturing debt in the next 12 months. That might not cause a crisis if we were still funding our national debt internally. But since 1985, we've been a net debtor to the world. Today, foreigners own 44% of all our debts, which means we owe foreign creditors at least $880 billion in the next 12 months – an amount far larger than our reserves.

Keep in mind, this only covers our existing debts. The Office of Management and Budget is predicting a $1.5 trillion budget deficit over the next year. That puts our total funding requirements on the order of $3.5 trillion over the next 12 months.

So... where will the money come from? Total domestic savings in the U.S. are only around $600 billion annually. Even if we all put every penny of our savings into U.S. Treasury debt, we're still going to come up nearly $3 trillion short. That's an annual funding requirement equal to roughly 40% of GDP.

Where is the money going to come from? From our foreign creditors? Not according to Greenspan-Guidotti. And not according to the Indian or Russian central banks, which have stopped buying Treasury bills and begun to buy enormous amounts of gold. The Indians bought 200 metric tonnes this month. Sources in Russia say the central bank there will double its gold reserves.

So where will the money come from? The printing press. The Federal Reserve has already monetized nearly $2 trillion worth of Treasury debt and mortgage debt. This weakens the value of the dollar and devalues our existing Treasury bonds. Sooner or later, our creditors will face a stark choice: Hold our bonds and continue to see the value diminish slowly, or try to escape to gold and see the value of their U.S. bonds plummet.

One thing they're not going to do is buy more of our debt. Which central banks will abandon the dollar next? Brazil, Korea, and Chile. These are the three largest central banks that own the least amount of gold. None owns even 1% of its total reserves in gold.

I examined these issues in much greater detail in the most recent issue of my newsletter, Porter Stansberry's Investment Advisory. Coincidentally, the New York Times repeated my warnings – nearly word for word – a few weeks ago. They didn't mention Greenspan-Guidotti, however... It's a real secret of international speculators.

My readers know that Greenspan-Guidotti means the U.S. is likely to have a severe currency crisis within the next two years. How high will gold go during this crisis? Nobody can say for sure. We've never been in the situation we are now. The numbers have never been so large and dangerous. But I wouldn't be surprised at all to see gold at $10,000 an ounce by 2012. Make sure you own some.

Good investing,

Porter Stansberry
 By bluejay

12/06/2009  12:33PM

America's largest creditor takes a swipe at the bad deeds that are continuing in our propped up banking system.

http://ftalphaville.ft.com/blog/2009/12/04/87056/chinese-official-slams-western-banks/
 By bluejay

12/05/2009  10:59AM

Gold closed out the week under selling pressure at $1161.40. The retracement from the weeks high from about $1225 represents a percentage decline of, roughly, 5.2%.

Sure, gold was extended but the percentage reaction may be inclined to continue somewhat further. This is all completely normal within gold's current bull market as compared to its last major run up of the late 1970's and into January of 1980 where it temporarly breached $900.

Three market experts, Jim Sinclair, Alf Field and Martin Armstrong have stated that much higher prices for gold are in order. So a good question is, where does this gold weakness run out of gas?

It would not be a surprise for the cartel to want gold prices below $1000, again. In their wishful thinking, if $1000 gold gave way then they would be home free with all their short positions. Unfortunately for them, the world has changed so much that this will never happen.

Major short term Sell-offs preceding the eventual high in January of 1980, on the average, were 12%. So if history is revisited during this gold bull market, the metal could in theory sell down to about $980. Will it happen? Or, will this be just a minor short term decline within a much larger continuing major bull market?

At the moment, it's anyone's guess.

By the way, The two major short term declines in 1979 bottomed out at $400 and $650 before $900 was reached.
 By bluejay

12/05/2009  10:31AM

Gold closed out the week under selling pressure at $1161.40. The retracement from the weeks high from about $1225 represents a percentage decline of, roughly, 5.2%.

Sure, gold was extended but the percentage reaction may be inclined to continue somewhat further. This is all completely normal within gold's current bull market as compared to its last major run up of the late 1970's and into January of 1980 where it temporarly breached $900.

Three market experts, Jim Sinclair, Alf Field and Martin Armstrong have stated and inferred that much higher prices for gold are in order. So a good question is, when and where does this gold weakness stop?

Based upon historical percentage declines in the 1979 gold bull market, an educated guess can be made that gold will establish a short term b
 By bluejay

12/02/2009  7:22PM

Gold continues to push higher tonight with a last sale of $1225.00.

Below are some comments on gold from the Casey Report:

Gold on the Move – Again
I will leave off shortly, as I am buried deep in the final stages of preparing this month’s edition of The Casey Report, which should be released tomorrow. (Which makes this a good time to check out our no-risk trial!)

Before I go, though, I want to comment that gold is on the move again – trading at $1,214.70 as I write. Meanwhile, the GDX, an ETF that mirrors the Amex Gold Miners index, is up to $55.11, a gain of 160% from a year ago.

With gains like that, a pause in the action is almost a certainty. Or is it? (I actually have no idea, so consider that a rhetorical question.)

One data point to consider is that legendary hedge fund manager John Paulson’s new gold fund is scheduled to launch in January. A fund that he has personally committed to kick off with up to $250 million of his own money.

It seems a safe assumption, given the tone of the market and Paulson’s reputation – not to mention the fact that he is putting serious money of his own into the deal – that the new fund will not only raise a lot of money, but that it will be – is being – mimicked by some significant percentage of the hedge funds now sitting on approximately $2 trillion.

Throw into the mix the retail money that today’s steadily rising prices are attracting and even the central banks, which have now returned to the markets as buyers, and it’s not hard to see that gold and silver could come out of the box in January like a cat with its tail on fire.

And with that, I will sign off for the day. Until tomorrow, thanks for reading and being a subscriber to a Casey Research publication.
 By bluejay

12/01/2009  7:15PM

Gold continues advancing as if it were at full steam ahead with a last sale of $1207.90.

One must wonder, are we in a historical run on the gold shorts? Do educated suspected short term chart trouble areas mean nothing to this charging bull? Are the the banks who heavily shorted gold down to about $700 last year on the verge of being wiped out? Are these some of the banks that people you know still have their money deposited with? Will the FDIC cover the banks continuing gambling losses that go so horribly wrong again?

Even though gold could be ahead of itself on a short term basis, that's where your safety and independence from the grumbling fiat system lies.

Below are some words spoken by Lorimer Wilson recently:

How high will precious metals equities and the gold price go?

My sense is that it will be in orders of magnitude far greater than most analysts allow themselves to state or believe. We frequently see price projections of 20 or 50 percent higher than today.

Some even allow themselves to suggest that gold will double in price before it has reached its cycle high. We may even see a rare analyst allow himself to speculate that gold prices may find and end at the $3,000 an ounce level. Of course a few discredited gold bugs suggest numbers even greater.

So why am I so optimistic about the eventual price of gold?

It is because an affinity for and an understanding of the political mindset causes me to understand what decision makers will do…and why. Because a politician follows the political calendar, s(he)/he only concerns himself/herself with the time horizon leading to the next election.

Anything requiring decisions beyond the date of the next election will be the responsibility of whoever is on the next watch. If the politician in office today is in office after the next election, a shrug of the shoulder indicates that worries of that kind can be dismissed for now to be dealt with later.

So major and difficult, but necessary, decisions are inevitably deferred. In their place spending money gives the appearance of concern and of doing something to fix the apparent problem. Aren’t those elected officials doing what we elected them to do? It certainly looks as if they are.

More cynical observers would characterize these actions by the political class and their senior bureaucratic minions as buying time hoping that something positive might magically emerge.

Those who are super cynical would even conclude give-away programs are designed simply to bribe the voters in order to curry goodwill for another term at the levers of power.

What all this means is that there is no discipline or inclination to do anything of real value in fixing the core economic and financial problems. That being the case, new programs, more spending stimulus and money creation will always be the order of the day. Hence the currency will devalue and investors will find gold as their best safe-haven refuge.

The dollar will devalue because massive dilution caused by incessant money creation allows future obligations to become more manageable – for government – because it is the only way that it can meet its future obligations for employee pensions, accumulated debt, Medicare and social security.

A nominal dollar which buys much less in the future than it does today is still a dollar. Unfortunately the holders or recipients of those devalued pieces of paper will find they are essentially fraudulent promises.

These realities make gold the closest thing to a sure-bet investment. They are also the reasons why gold will go much higher than most of us allow ourselves to contemplate.

Buckle your seatbelts and enjoy the ride ahead!
 By bluejay

12/01/2009  12:58PM

Last on gold is $1196.10 but down from an earlier high of $1202.50.

The linked article below is a bunch of propaganda being directed at the public from the well entrenched anti-gold establishment.

Isn't it a bit odd that the article fails to address government deficits and currency debasement? It's quite obvious that the cartel is mounting an effort to halt gold's advance right here at the $1200 area. Actually, if I were in charge of their war room activities I would be doing the same as $1200 and into the $1224 area seem to be the metal's next short term stop. Rome wasn't built in a day and neither can the gold price go straight up, UNLESS there is a big surprise coming.

http://www.theglobeandmail.com/report-on-business/go-for-the-gold-may-mean-going-for-a-loss/article1383592/
 By bluejay

11/26/2009  4:18PM

Last on gold is $1183.60 after nearly hitting $1196 earlier on the Dubai negative news concerning the failure to meet their debt obligations.

For a contrarian, it seems there is an above average chance that gold has made a short term high this Turkey Day. The upper limit of gold's ascending long term channel line is right at $1200. The line in the past when approached has served notice that the metal is due for a rest.

If gold continues past $1200 on this move, then it would have to be considered that there are financial troubles out there that we don't know about that will be surfacing in due time.
 By bluejay

11/23/2009  12:47PM

Last on gold is $1165.00 after hitting an earlier high of about $1175.

The following is very important:

This is a must read--red colored emphasis mine:

China quietly introduces new financial system
Benjamin Fulford

(Editor's Note: The following missive, from Mr. Fulford, portends some radical changes ahead, Not only are they radical, he also suggests that they are imminent. Do your own "due diligence" but stay open to the possibilities. - JSB)

China has stealthily introduced a new financial system based on the renminbi which is well on its way to becoming fully convertible, according to a high-level Chinese source. In addition, China is purchasing 10,000 tons of gold to back up a new fund designed to develop and market heretofore forbidden and suppressed technologies. The fund will be based outside of China and will be controlled by prominent members of the Chinese overseas community. The gold purchase will take some time because of the logistics of transporting it and the Chinese wish to test it thoroughly. Both the Chinese government and MI6 now confirm reports that much of the gold sold by the Federal Reserve Board over the past decade is in fact gold plated tungsten.

For its part, the renminbi is now convertible with South American currencies, the rouble, Middle-Eastern currencies, the yen, South East Asian currencies and African currencies. "We will slowly introduce our new financial system in parallel with the old one and hope that people steadily migrate towards it," the Chinese official says.

Meanwhile, the latest G20 meeting ended in acrimony and chaos. The leadership of the West is in total disarray and will remain so until the Federal Reserve Board's bankruptcy becomes visible even to brainwashed section of the Western public. This is now expected by January or February. Both MI6 and a senior Chinese government source now predict the collapse of the Federal Reserve dollar by that time.

We are also hearing various reports that many Pentagon and other US alphabet suit agency figures with both US and Israeli citizenship have recently fled to Israel. Things are coming to a head.

China is proposing to replace the US dollar with the Hong Kong dollar

At a top secret high-finance meeting scheduled for this weekend, China will propose that the US dollar be replaced by the Hong Kong dollar, according to a senior MI6 source. The proposal is under serious consideration by the backers of the new financial system.

As we have previously reported most US dollars ever created are now backed by gold at the rate of 1/28th of a gram per dollar. The fraudulent Federal Reserve Board fiat dollars issued after September, 2008 are not. Nor are any dollars derived from fraudulent "derivatives." So, to replace the US dollar with the Hong Kong dollar all that would be required would be to rename the gold-backed dollars. Any new Hong Kong dollars issued would be backed by the Renminbi, according to the Chinese proposal.

The Federal Reserve note will fall to 0.03 cents by January

It can now be stated that all the US dollars connected to legitimate commerce are backed by gold at the rate of 1/28th of a gram per dollar. The remaining Federal Reserve Board debt notes will soon fall in value to 0.03 cents, according to extremely high level financial sources. This means all legitimate businessmen and workers paid in US dollars have nothing to worry about. However, high level con-artists selling financial "derivatives," will be left with 0.03% of what they thought they owned.

It is amazing to see how many intelligent "well informed" people still do not have a clue about what is going on. If you connect the dots in the corporate propaganda media, you should be able to see for yourself without going to so-called "conspiracy" news sites. Among countries that have publicly said they will no longer use dollars for trade with each other can be found: China, Russia, Japan, South America, the Arab league, Turkey, Iran etc.
 By bluejay

11/22/2009  11:53PM

Last of gold is $1166.00.

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