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Topic:
Gold Enters Major Bull Market

       

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 By bluejay

11/18/2009  3:34PM

Sorry, forgot to link the article in the previous submission, here it is:

http://www.kitco.com/ind/willie/nov182009.html
 By bluejay

11/18/2009  3:32PM

Last on gold is $1145.90.

The below linked article, in case folks missed it at kitco.com, "Zinc Dimes, Tungsten Gold & Lost Respect" by Jim Willie is an extremely enlightening story concerning current events effecting gold.

If you have time to read this, you'll be in the minority of well educated people. As quantitative easing permits the bankers to pump up the general averages for trading profits, as they goose us all on increased card interest charges, the average citizen has absolutely no idea of the consequences heading their way if they continue to have gold absent from their wealth holdings.
 By Rick

11/18/2009  12:12PM

Good ideas, Bluejay. I just now spoke with Mike and encouraged him to consider a broader net-work...specifically suggesting creating a FaceBook page, which, as of noon today is up! This may spur activity...let's all get involved.
 By bluejay

11/18/2009  10:14AM

Last on gold is $1144.90(whoops now $1142.10) on higher than expected CPI figures. Earlier it hit about $1154 and appears to have reached a short term high.

Rick, I am always open to new ideas as they are the forerunner of solutions and inventions.

One slight problem for potential investors of the Company is, where do they go to buy shares? Do they go to the gray market which is a butcher shop or do they call the Company?

First, investors want visibility and liquidity in markets and really wouldn't wouldn't want to call orders into the company unless historical stories or press releases were quite compelling. They are accustom to dealing with brokers and seeing their positions on monthly statements.

Although we could advertise the company on kitco.com along with mentioning that for ordering certificates out our rates are the cheapest in the industry as some of them charge upwards of $250. This could be appealing to some investors but our last sale on the gray market at $0.0002 doesn't speak too highly of us in market language.

I think that if enough shareholders put in bids below asset value and significantly higher than our last OTC sale in NY then the liquidity concern could be half solved.

Of course, being listed somewhere on an exchange or a having a higher OTC creditability level would compliment nicely any submitted news articles of the mine or advertisements submitted to kitco.com.

Keep thinking.

Mike is a one man show and is really overwhelmed with responsibilities. I would think that having a one week seminar in Alleghany, weather permitting, between concerned shareholders for a general "think tank" experience would greatly assist him in.
 By Rick

11/17/2009  4:44PM

Bluejay, or anyone else following this topic. Kitco.com is a great web-site, which I visit a few times a day, minimum. How can OAu post news, opinions, potential, historic production figures, and all that is in Allegany on the site?
 By bluejay

11/16/2009  8:14AM

Last on gold is $1131.40 while being higher earlier above $1135.

Last on silver is $18.22 up $0.80.

Years ago while I was working on an Exchange trading floor Forbes magazine published one of their issue with the title, "The Death of Copper" on their front page. The article inside explained why, basically, copper's future held little promise. A significant low in copper was established about the same time of this big splash against the metal on their front page cover.

Since dicing silver on Friday the metal is up nearly $1 or just over 5%. If you want a fast ride to the poor house just keep believing in the media's negative lean towards real money, gold and silver.
 By bluejay

11/15/2009  10:31PM

Last on gold tonight in Asian markets is $1128.50.

The following comments concerning silver are from the precious metal's unfriendly Forbes magazine which seems to be pushing these planted words for the big silver short, J.P. Morgan:

Silver gained 16 cents per ounce, rising to $17.34 after a bit of a wobbly start this morning. According to Forbes, some analysts warn the fundamentals for silver remain a cause for continued concern. "Silver is really struggling to keep up with gold at the moment because this is a gold story, it is not a silver story," RBS analyst Stephen Briggs said. "Silver is only a geared play on gold, its own fundamentals are not great. If it weren't for the ETF buying the market is in surplus."

Last on silver tonight is $17.63 up $0.21.
 By bluejay

11/15/2009  4:31PM

Last on gold is $1124.00

The following is from Chris Powell of GATA.

Great links to interviews with "The Einstein of Money," Antal Fekete recorded in New Zealand in late October.

Antal Fekete explains free coinage of gold -- to New Zealanders

Section: Daily Dispatches

10:40p ET Thursday, October 29, 2009

Dear Friend of GATA and Gold:

OK, maybe American broadcasting and cinema have not been concocted by the Federal Reserve to anesthetize the country and most of the world to their expropriation by the New York financial houses. But it seems that you still have to go to tiny (if incomparably beautiful and strange) New Zealand at the bottom of the world to hear the economist and monetary historian Antal Fekete talk about what's wrong with the world financial system.

On his way to a presentation at the Gold Standard Institute in Canberra, Australia, Fekete gave a couple of interviews in New Zealand this week -- one on Radio New Zealand, the other on the New Zealand national television station TV3. He argued not for a gold standard but for free coinage of gold, whereby the government mint would receive raw metal from anyone and return it to him in untaxed coin, thus facilitating the transfer of the public's wealth from fiat currency into commodity currency whenever the former seemed likely to lose value. Fekete's idea seems pretty close to what GATA has long advocated, a free market in the precious metals.

Fekete's interview with Radio New Zealand is about 12 minutes long and you can listen to it here:

http://www.radionz.co.nz/audio/national/sunday/2009/10/25/professor_anta...

Fekete's interview with TV3 is about five minutes long and you can watch it here:

http://www.3news.co.nz/Aligning-currency-with-a-gold-standard/tabid/369/...

TV3's program schedule discloses that among the station's other offerings to New Zealanders are "CSI Miami," "The Simpsons," and "America's Next Top Model." This really is going too far. Don't they have any pretty girls of their own Down Under and Off to the Side?

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
 By bluejay

11/15/2009  3:17PM

Last on gold is $1123.80 and is making new all-time highs again. The time is getting closer when the temptation for big money to invest in our properties will be irresistible.

If anyone knows of any more fools out there that want to sell our shares at any price, I will take a million at $0.01.
 By bluejay

11/15/2009  1:38PM

Saturday, November 14, 2009

Bullish Signal:

Interesting Step Pattern Developing in Gold

Posted by The Firecracker Report at 4:01 AM

An interesting bullish staircase pattern is visible in gold prices. Jim Sinclair calls this pattern the swiss staircase and he views the pattern as an indicator that prices are headed much higher. We enclose a graph(sorry couldn't post the chart- it's at http://www.jsmineset.com)of this step pattern posted by Trader Dan Norcini on Jim Sinclair's website below. Since the price of gold on the right axis is not visible in Dan's chart we have posted the first chart as a reference for our readers.

Money Morning explains the technical rationale behind this step pattern formation:

As asset prices rise, they often initially overshoot. Then they correct – fall back a bit. Then they consolidate, or trade sideways, usually for a period of six to 18 months, but sometimes for even longer. It’s this period of sideways trading that creates the horizontal step – a technical-analysis tool that lets us see the foundation for the next step up in the long-term uptrend.
 By bluejay

11/14/2009  12:38AM

Gold closed out the week at $1118.50.

The following link takes you directly to one of Jim Sinclair's best ever interviews. This interview by far is the best thats been available for educational purposes in our market for some time.

The interviewer is Eric King of KingWorldNews.com

http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2009/11/13_Jim_Sinclair_files/Jim%20Sinclair%2011%3A13%3A2009.mp3

or go to http://www.jsmineset.com
 By bluejay

11/13/2009  8:17AM

Last on gold is $1108.50. In the past few days gold has been retreating. The metal was jerked higher over $1120 on comments from Barrick Gold's president that world gold production had historically peaked. The next day the same source stated that gold was over-priced for the short term and weakness in the market soon followed.

It's evident that Barrick still believes they have some remaining control over the gold market to effect price change. Remember these are the same guys who made money for their shareholders and hurt other miners while acting as the government's agent in surpressing gold prices. It was Barrick that indirectly put pressure on our company by forcing gold lower until 2001 as they canabalized the industry by raking in metal profits shorting it and in the process of this maneuver took over other mining companies at below realistic values from shareholders that didn't know any better.

It would seem that the controlling interest at Barrick is greedy and stubborn which proved to be dilutive to shareholder percent ownership when they were given advice from a gold expert to cover their hedges when gold was much lower in the $300 area and below. Barrick recently had a secondary offering to bring in what they about lost in a massive blunder of letting their short positions run against them when they were forewarned in 2001 by one of the top gold analysts in the world, James Sinclair. Now Barrick is talking about covering their last remaining hedge positions with gold over $1100.
 By bluejay

11/11/2009  1:34PM

Last on gold is $1117.90 as the media nay-sayers are proven wrong again.

Included below is an article by Alf Field, predictor of $5000 gold, discussing Zimbabe and their experience with hyperinflation.

http://www.kitco.com/ind/Field/nov112009.html
 By bluejay

11/10/2009  10:49PM

last on gold tonight is $1108.30.

Aside from price predictors taking their turn at forecasting gold prices, the following article completely represents what is mainly wrong in this land of ours and why we must hold gold to guarantee our financial safety.

Paul B. Farrell

Nov. 10, 2009, 11:03 a.m. EST · Recommend (29) · Post:

Financial innovation is Wall Street's new 'soul sickness'
Commentary: New mutant American capitalism has no moral compassView all Paul B. Farrell ›
‹ Previous Column

Warning: Your brain is killing American capitalism
First Take ›

Retail's glass half-full
Story Comments Screener (298) Alert Email Print By Paul B. Farrell, MarketWatch
ARROYO GRANDE, Calif. (MarketWatch) -- Could our headline just as easily read: "Financial innovation: Wall Street's biggest con game?" How about: Rip-off? Joke? Oxymoron? Maybe "Wall Street's big lie?" Or something darker: "Financial innovation: Wall Street's deadliest sin, greatest evil, even soul-sickness?"

In fact, they all fit. Each reveals Wall Street's dark side: Why are they at war to keep financial innovation secret, hidden, without public transparency? And why is Wall Street spending millions on lobbyists to kill financial-regulation reforms? Why? Because Wall Street rakes in tens of billions of dollars annually from their financial innovations, gambling in the shadowy $670 trillion global derivatives market. And Wall Street does not want government, investors or competitors digging into their "financial weapons of mass destruction," as Buffett calls them.

Swine-flu uproar on Wall StreetGoldman Sachs, Morgan Stanley and Citigroup are among several large New York City employers that got doses of the H1N1 vaccine, which remains in short supply. WSJ's Betsy Mckay discusses Wall Street's latest public relations nightmare on The News Hub.
Remember, financial innovation is just a Wall Street code word. Translated it simply means derivatives and other proprietary secrets like the high-frequency trading algorithms used by their quants. Yes, Wall Street wants you to believe that financial innovations also help Main Street, but that's just Wall Street lobbyist propaganda to mislead the public, regulators and legislators. Remember when Washington proposed standardized mortgages as a way to help consumers? Wall Street attacked, spending millions to kill it.

Wall Street has no interest in helping Main Street. Time magazine's Justin Fox, author of "The Myth of the Rational Market," said it best in his "Curious Capitalist" column. Most so-called financial innovations are "just new ways to fleece customers or hide risk, and all major financial crises have been associated with some financial innovation." Even credit-card innovations are used against customers as marketing tools to increase fees. The truth is: Wall Street's greed-driven financial innovations fuel our bubble/meltdown cycles in many ways.

Hard-core Reaganomics is back
Wall Street's obsession with unregulated financial innovation also signals a resurgence of Reaganomics, the conservative ideology that killed Glass-Steagall in 1999, created "too-big-to-fail" banks, and set the stage for the 2008 meltdown. That 60-year-old law protected Main Street by separating low-risk retail banking from high-risk investment banking gambling with high-octane financial innovations.

Former Fed Chairman Paul Volcker and Nobel-Prize-winning economist Joseph Stiglitz warn: We need a new Glass-Steagall to rein in Wall Street. Or prepare for a new meltdown. At a Senate hearing last summer financial-innovation pioneer Richard Bookstaber, author of "A Demon of Our Own Design: Markets, Hedge Funds & the Perils of Financial Innovation," said: "Derivatives are the weapon of choice for gaming the system." They are "vehicles for gambling ... side bets on the market."

Get it? Derivatives put all markets, investors and taxpayers at risk. These "side bets can pose risks that extend beyond the losses to the person making the bet," because they actually "change the behavior of the market." In short, financial innovations only serve the interests of Wall Street's insiders, not the public interest, not Main Street investors, not American taxpayers, and not retail banking customers. Without transparency and regulation reform, a new meltdown is guaranteed.

Unfortunately, Wall Street has no incentive to help the public good. Quite the opposite: They want to get very rich, very fast. And our laws encourage their greed. Bookstaber and other critics warn that Wall Street's goals are clear: Design financial innovations that evade securities laws, avoid taxes, minimize capital requirements, increase leverage, hide speculative risks, maximize short-term profits, and avoid stockholder disclosures. In short, Wall Street is back running the same con game that triggered the 2007-08 meltdown, which is why they've amassed a record bonus pool so fast. They have no conscience.

Historical evolution of a new 'American capitalism' mutation
Yes, Wall Street's behavior has the feel of a socio-pathological disorder and a strong hint of a secret conspiracy to defraud America, a cultural "soul sickness." Now visible: An emerging new mutant American capitalism. In fact, Matt Taibbi's description of Goldman Sachs fits the entire banking industry: a "giant vampire squid wrapped around the face of humanity." Look closely and see clear signs of immoral, even criminal, misconduct fueling Wall Street's obsession with unregulated financial innovation. To fully understand why, you need to see financial innovation in the broader, historical context of the emerging new American capitalism.

1. In the beginning, Adam Smith's 'Wealth of Nations'
"Every individual ... necessarily labours to render the annual revenue of the society as great as he can." But he "neither intends to promote the public interest, nor knows how much he is promoting it. ... he intends only his own gain ... led by an invisible hand to promote an end which was no part of his intention." The public good is collateral damage from the aggregate economic activities of greedy individuals all acting solely in their own narrow selfish interests. That's pure capitalism. Today the equation survives and thrives as the "efficient market hypothesis," where the collective behavior of 95 million irrational investors is assumed to create a totally rational capitalist stock market.

2. Greenspan and Ayn Rand, author of 'The Fountainhead' and 'Atlas Shrugged'
Rand was Greenspan's guru and mentor. For decades they had a profound impact on American capitalism. Rand was dogmatic: "When I say 'capitalism,' I mean a pure, uncontrolled, unregulated laissez-faire capitalism, with a separation of economics, in the same way and for the same reasons as a separation of state and church." Why? "Capitalism is the only system that can make freedom, individuality, and the pursuit of values possible in practice because capitalism demands the best of every man -- his rationality -- and rewards him accordingly. It leaves every man free to choose the work he likes, to specialize in it, to trade his product for the products of others, and to go as far on the road of achievement as his ability and ambition will carry him." Rand captured the conservative spirit of the emerging American capitalism, and through her disciple, both demanded total, unrestricted freedom for Wall Street.

3. Reaganomics and Milton Friedman's 'Capitalism and Freedom'
Reaganomics defined conservatism after 1981, grounded in Nobel Economist Milton Friedman's conviction that "the government solution to a problem is usually as bad as the problem." He hated FDR's New Deal and Keynesian economics, preaching hard-core Adam Smith capitalism. Naomi Klein, author of "Shock Doctrine: The Rise of Disaster Capitalism," summarized Friedman's "three trademark" principles of conservatism: "Privatization, government deregulation and deep cuts in social spending." That ideology gutted Glass-Steagall. And as Thomas Frank put it in "The Wrecking Crew: How Conservatives Rule:" "Innovations in governance" meant take "jobs away from career civil servants and hand them over to the big federal contractors." Reaganomics led to an Iraq war fought by more profit-hungry private mercenary contractors than committed volunteers. Ironically, it created bigger government.

4. New 'mutant' American capitalism must kill financial regulations
American capitalism generally, and Wall Street's mindset specifically, reflects the 234-year history from Adam Smith to Friedman, Reaganomics, Rand and Greenspan. Today however, it is resurfacing in a new disguise: Wall Street's blind obsession to kill all restrictions on financial innovations, whether in the SEC, FDIC, CFTC, or proposed Consumer Financial Protection Agency. Wall Street's cash got Obama elected, got their Trojan horses in his cabinet. Now their millions flow the opposite way, as their lobbyists sabotage Obama's financial-regulation reforms. And no matter who gets elected, Wall Street runs the game.

Wall Street's soul sickness feeds on mutant American capitalism
So tell us: Which headline did you pick? "Financial innovation: Wall Street's biggest con game?" Or maybe: Hoax? Rip-off? Scam? Joke? Oxymoron? Or was it Wall Street's biggest lie? Perhaps "Financial innovation: Wall Street's greatest evil?" Mortal sin? Soul sickness?

You think "soul sickness" is too heavy? Not really. Since the Enron scandals, critics have been warning that Wall Street has lost its moral compass. However, in the new mutant American capitalism, Wall Street doesn't need a moral compass. Get it? Ethics and morals are irrelevant in the emerging new American capitalism, the latest mutation of Adam Smith's capitalism.

That means Wall Street's blind "anything goes" obsession with financial innovation is totally consistent with the rules of the new American capitalism. Morals, ethics and the public good are irrelevant in the rules of Wall Street's new mutant American capitalism.

Wall Street's only restriction is to obey the 11th commandment: "Thou shalt not get caught." And when you compare the number of indictments from the 2008 meltdown to earlier ones during the Enron-era scandals and the S&L frauds (plus add in the $23.7 trillion debt those same "too-greedy-to-fail" crooks scammed from American taxpayers), you can easily see why Wall Street is clearly living within the rules they created for the new mutant American capitalism.

And that, folks, is why my final headline pick is: "Financial innovation: Wall Street's soul sickness." Why? Because this is a grave moral issue for all Americans, but Wall Street doesn't get it. Unfortunately, neither does Washington. Worse, neither do the American people, but that's what a cultural "soul sickness" does -- it blinds us to moral issues and leaves us wandering, lost, in the fog of Wall Street's self-destructive new mutant American capitalism.
 By bluejay

11/09/2009  11:51PM

Last on gold is $1098.30.

In The News Today
Posted: Nov 09 2009 By: Jim Sinclair Post Edited: November 9, 2009 at 10:50 pm

Filed under: In The News

Dear CIGAs,

My friend, former partner, respected colleague and ace floor trader Yra Harris today said:

"Oh the birds are singing, the hills are alive with the sounds of music and the carry trade is in full swing. Today was the paradigm of the easy funding for the world for if you were an asset class that could not rally you must have been tied to causing the existence of flesh eating bacteria. With the G20 shown to be a paper tiger, the IMF giving its seal of approval to the debased dollar carry trade – the animal spirits ran wild. The dollar was down against everything but the yen for the yen is the second favorite funding currency with similar fundamentals to the dollar."

My comment is simple.

The floors of the dollar’s downward elevator are about to open up wide.

The freefall is near. Armstrong’s few days are just around the corner.

The Winter is going to be very cold for the US dollar Be advised. Take precautions immediately if you have not already.
 By bluejay

11/08/2009  9:36PM

Last on gold is $1104.50.

In the link below Ronald Rosen presents the case for gold dropping to the $640 to $650 area by 10/20/10. All I can say is that the metal is in a bull market. Could Ronald be right? Mr. Jim Sinclair says around April of 2011 gold will hit $1650. Jim Sinclair also said that there will be wide swings in this market going forward. Personally, I've mentioned recently that there is an outside chance of gold trading lower on a reaction to around $935 or so, to reaching higher to $1200 on this move.

I think it makes sense to have some extra funds always available "just in case" during this bull market. As a long term investor in this sector mainly since 2003, I'm going to remain about fully invested until much higher levels arrive with, sharp intermediate declines or not.

http://www.kitco.com/ind/rosen/nov052009.html
 By bluejay

11/08/2009  8:17PM

Gold is pushing higher tonight, last is $1104.60.
 By bluejay

11/06/2009  10:16PM

Gold closed out the week at $1096.90 after briefly passing $1100 earlier today. The media attributed the metal's strength to the Labor Department's disclosure that unemployment had passed the 10% level to 10.2%.

http://www.jsmineset.com carried today an advertisement from John Williams of Shadow Government Statistics out of Oakland, California that shows from his research in chart form that the real unemployment figure is over 22%.

Jim Sinclair from time to time quotes the widely respected John Williams.

If it's still available on the jsmineset website, Jim has provided a link to the recent thoughts of Martin Armstrong. Martin Armstrong may be one of the most brilliant minds in the world today.

Both John Williams and Martin Armstrong are patriots who both call it the way it is, as opposed to our elected officials who, I suspect, just make it up as they go along for whatever benefits them.
 By bluejay

11/05/2009  9:36PM

Last on gold is $1091.40

I know this might be a touchy subject for some but I believe the time has come to be more specific in identifying the nature of our business in our corporate title.

Here are a few thoughts:

16 to 1 Gold Mining and Exploration

Alleghany Consolidated Gold

Thinking of names could be endless. The point is we need GOLD in our name. The day is coming when the public will start their research for small gold and silver related companies. There was once a company, years ago, on the American Stock Exchange with gold in its name. The company had nothing to do with gold mining but each time the gold shares rallied this one always went up in sympathy.

Isn't it ironic that our stock does nothing with new highs on gold everyday while another company that has gold in its name but is not a gold affiliated company just might go up?

The lack of the word gold in our corporate title is another one of our untapped assets.
 By Rick

11/05/2009  5:57PM

As should be done first...read directly below.

Next....the battle between private sector autonomy in operating this mine vs. regulatory theives will become more and more evident as this mining gem continues to attract attention and somehow goes further along un-noticed by the private sector.

Major gold inside a mine with major highgrade history, untapped potential...given the trend, I see the road-blocks that have been thrown down in the pursuit of the historic success of this endeavor soon to be relegated to the dust pan.

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