November 21, 2017 
 Tuesday 
 
 

Forum
Topic:
Gold Enters Major Bull Market

       

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 By bluejay

03/10/2008  8:57AM

Dick

You are correct in this respect.

But considering the real impact from mining cost inflation which I'm sure is running at over 30% now, what is the "real benefit" of not pulling the gold out of the ground??

Every day that is wasted in not receiving funding for the purchase of equipment and doing the necessary development work of our proposed project effects the value of our gold inventory in the ground until such time that gold outpaces the current inflationary spiral.
 By Dick Davis

03/06/2008  6:37PM

Eureka!

Whatever hasn't been discovered is worth more!
 By bluejay

02/27/2008  6:15PM

Gold $958.20
Silver $19.25
Gold/Silver Index 49.73
Gold/XAU Ratio 4.83

Our country is being run by a bunch of morons and we will pay the price in the end.

The following are a few excerpts from Mr. Jim Sinclair's jsmineset.com's website tonight.

Bernanke And His Talking Head Fan Club

The talking heads noted Bernanke's repitition of the word risk more times in today's presentation than any other since he became chairman.

Outside of one exception, I have never heard such rank stupidity in all my life. The worst part is these photo opportunities gangs really think what they say is intelligent.

With this thinking leading the USA by running the economic show there is a chance we will repeat a large percent of the Weimar experiment.

----------------------------

Today's biggest huh?

Regulators lifted the caps on Fanny and Freddy(Mac) so they could buy more mortgages. Fanny and Freddie are both the slowest train wreck in market history.

Both are loaded with failed derivatives which they have been trying to evaluate for more than 18 months. They are both losing big money and they have just gotten permission to go deeper and deeper into the OTC derivative and debt hole.

God help us all.
 By bluejay

02/27/2008  12:44PM

Gold $959.70
Silver $19.30
Gold/Silver Ratio 49.72
Gold/XAU Ratio 4.84

In case you haven't been told yet by the media, the price of silver is exploding.

It wasn't too long ago that mention was made here of an important breakout to the upside on the silver price at $15.50. The price now is $19.30.

Does anyone get the feeling that smart people are turning in their dollars for precious metals as the country's financial meltdown picks up steam?

The Gold/Silver ratio had been heavy on the chart at 53.00 and now gravity is taking over. If the ratio breaks 45 all hell will break loose for silver to the upside.
 By bluejay

02/20/2008  6:03PM

Gold $940.10
Silver $17.84
Gold/Silver Ratio
Gold/XAU Ratio

Just a reminder, as gold is making new highs this evening expect the anti-gold establishment to start bad mouthing it again.

It wasn't long ago that an article in the Wall Street Journal attacked gold's price on Monday, November 12, 2007.

The story was entitled, "Gold Record Is Distant Prospect."

The story was staged in an attempt to hold gold back from bettering its indirectly stated January 1980 high of $873.

Melainie Burton brought up the fact that gold is a far cry from its inflation adjusted record which she states is $2,250. Whose inflation index was she using?

No mention in the article that western central banks have been dumping gold into the market for years.

In a concerted effort of attack on gold the metal's price fell the following Monday to $816.80. Again, be prepared for continuing propaganda as gold has broken above recent highs and is positioning itself for an assault at the $1,000 level.

The financial health of our company would be significantly enhanced if these fiat crazed publications along with government employees had done what they were hired to do rather than depressing the price of gold and recklessly ruining the true value of people's investments in gold and gold companies.

More than our wealth being compromised by a puppetmaster is the sad fact that Russia's, China's and India's people are being afforded the opportunity to import gold at discount values. These people are holding it in the form of jewelry and central bank reserves, the very same gold that used to be at Fort Knox.

The gold at Fort Knox is no longer there. If it is, then send in an independent auditor!
 By bluejay

02/20/2008  2:54PM

Gold $943.80
Silver $17.80
Gold/Silver Ratio 53.06
Gold/XAU Ratio 4.98

Gold is currently making another all time higher.

This is what a major bull market is all about, continuing higher prices into the future.

You could make the point that our gold in the ground has risen in value too but so has inflation. The bottom line is how much money will it take to produce an ounce of gold and at what price can that ounce be marketed? In the future, inflation will increase and so should the gold price.

In our life time we will see prices of $200 a barrel for oil and possibly, $300 according to a money manager at Sprott Asset Management Group in Toronto.

The cost inflation basis for mining expenses is exploding. In 2006 they were up nearly 30% for North American miners. I can't imagine their being lower for 2007 and going into the future.

It continues to make sense in owning gold coins as hyperinflation appears ready to rise its ugly head.

Remember what happened during the Weimar Republic and some of the stories concerning the public's inability to mentally cope with daily price adjustments concerning the purchase of their necessities.

Going forward whether it be in the mining business or your own personal lifes, the realistic inflation factor needs to be given serious consideration. Believing the CPI figures will only get you into trouble.

The CPI figures are falsified to keep the moral inflation adjusted checks from becoming reality for the many millions of Social Security recepients.

The real rate of inflation may be in the 18% to 20% category. If the Social Security check amounts are being raised based only on the government's skewed CPI Index of 3% or 4%, who is getting screwed?
 By bluejay

02/03/2008  11:32PM

Gold $909.40
Silver $16.77
Gold/Silver Ratio 54.23
Gold/XAU Ratio 4.93

More propaganda from the news papers, this time from USA TODAY. The negative jab to gold was presented in the article, "Striking gold online is easy, but buyers beware."

The writer, Matt Krantz, in the USA edition for Monday morning says, "While it(gold) may be used as a hedge in times of trouble, gold, historically, hasn't been a good investment, and many financial advisors don't advise holding much, if any. But I understand the animal of investing speculation, and it's hard to resist piling into an asset when it's rising and everything else is sinking."

All this was in response to an unidentified source for the question, Is there a way to monitor the price of gold online? A simple answer would have been yes, go to http://www.kitco.com but instead the question was used as an opportunity to attack gold in the press once more.

Mr. Krantz professes to be an expert in "animal spirits of investing speculation." What's that suppose to mean?

It appears that Mr. Krantz knows very little of monetary history of which gold is the center piece as he attributes its growing strength to animal spirits when he should have been more responsible.
 By Rick

02/02/2008  7:52PM

Echoing Bluejay tonight:

I call on the principal board member to chime in here. (Am I also refering to the principal share holder, I think.)

If I'm wrong in my facts on who's "who", PLEASE correct me and retract this entry from the forum page.!!!

Out here in the flat-lands of the Sacramento Valley, I dream of an assault on the veins of our mine. It seems like a win-win situation is for a major share-holder to step to the plate, invest in development.

My brain tells me it's not Mike, since he's stuck his neck out most likely beyond his means, and in defense of this posture. I, for one, am behind his defense of the mine, and will stand with him all the way on the legal front and all the way into development. Everyone who's read the Forum knows this.

The big X-factor is for the entity waiting to jump in with an extremely promising outcome, to jump now...essentially investing equity in the value underground. Who best, than someone to embrace their own value?

I wish it were me. If I could, I would.
 By bluejay

02/01/2008  2:37PM

Gold $907.90
Silver $16.79
Gold/Silver Ratio 54.07
Gold/XAU Ratio 4.91

Gold has finally elected to take a rest after laboring above the $930 level for some days now. Whether it was just normal profit taking or aggressive short selling by the bullion banks will probably be discussed by Dan Norcini at jsmineset.com in a few days or so.

Usually, large dollar drops in the golden metal are primarily engineered by the Fed or Treasury through their bullion bank lackies on the paper gold COMEX market in New York.

The anti-gold establishment is forever creating nagativity and forever searching for it to suppress the metal from seeking its natural level or value.

According to James Turk who is the founder and chairman of GoldMoney.com The value of gold is "viewed in nominal dollars, but nominal dollars provide a distorted picture."

"After all, everyone knows that because of inflation a dollar today purchases much less than it did twenty-eight years ago, so clearly $850 today(currently $907.90) does not have the purchasing power it did back then. The question therefore arises, what price does gold have to reach in inflation adjusted dollars to equal the purchasing power of eight hundred fifty 1980-dollars?

The full content of James Turk's recent thoughts can be read on kitco.com under the article heading, "The Real Gold Price."

There is an extremely revealing chart that is contained in Mr. Turk's presentation that clearly depicts that gold is way under valued compared to the inflationary growth pressures, especially, since the 1980 time period.

Mr. Turk sums up a Real Price of Gold(CPI Adjusted) chart using the original CPI(figures provided by ShadowStats.com) from 1980 and the currently changed CPI Index that has been evolving since that time by saying:

"There are a couple of important conclusions from the above chart. First, gold at its present price of $900 today(currently $907.90) is still very cheap. In other words, it is a long way from the purchasing power an ounce of gold achieved in January 1980."

"Second, both measures on the above chart show that the dollar is losing purchasing power every month. So if gold in the future were to reach a $6,255 price, the inflation between now and then would require gold to reach an even higher price to equal the purchasing power it had in January 1980.

Albert Einstein's philosophy of a disturbed mind is a person or group of people repeating the same thing over and over again and expecting different results. Selling gold to prop-up a currency based on promises and promises only, does not work and has never worked in all of the world's history and will not work anytime in the future.

What works is that it buys the Fed and the banks more time to ream the general public out of their wealth.

The BIS reports that the world derivatives market has grown to be over $500 trillion in a time period when the derivative instruments are failing, fueling a financial meltdown.

The only way to prevent yourself from becoming a serf in the approaching new feudal system as a result of the continuing redistribution of wealth from the growing poor to the top 1% or so in this country is through gold ownership.

Above all, you do not want, as Jim Sinclair has been repeatedly stating lately, any financial intermediaries between you and your gold or any other important inflation protected assets.

The American people are basicaly sudsidizing immoral criminals that are methodically ruining their currency and basically burdening them with a heavy tax through inflation that no one wants to talk to you about including on the presdential debates.

Some good news for the mine is that the price of silver apparently has surmounted the important $16.50 level.

Although, some silver comes out of the ground with the 16-1 ore it's not that much, but every little bit will help.

When will the Board reward its patient shareholders before inflation eats them alive? The mine has inflation problems of their own but the mine holds gold, the currency of the world.

Can the Board please make some decisions that will bring gold out of the mine?
 By bluejay

01/29/2008  3:43PM

Gold $923.00
Silver $16.69
Gold/Silver Ratio 55.30
Gold/XAU Ratio 4.93

National Bank(Canada) Boosts Gold Target to $1,500 US

John Morrissy Tuesday, January 29th Canwest News Service

"National Bank Financial boosted its target on the price of gold to $1,500 US within the next 12 to 18 months as bullion reasserts its status as a safe haven in troubled times."

"With bullion having broken through its previous record nominal price of $878 in January 1980, it's time to revisit our outlook and reiterate our view that gold is poised for a comeback as an investment haven," National Bank chief economist Clement Gignac said in a research note.

"Investor confidence has been shaken by writedowns of more than $100 billion(this is just the start) announced by large banks around the world." Gignac said

"Unfortunately, the U.S. recession expected by many observers this year must be expected to swell that number in the months."

As well, the U.S. Federal Reserve's 75-basis point cut last week "tends to underline the seriousness of the situation" in global capital markets, with analysts predicting a further rate cut of up to 50 basis points on Wednesday.

With borrowing rates falling below the rate of inflation, gold should be well bid, Gignac said, as negative real interest rates have historically been a boon to its price.

THE VALUE OF GOLD

In an extremely well written and educational article that was presented at Kitco. com on January 21, 2008 Dr. Antal Fekete president of the Gold Standard University states the following in the entitled article, "Gold: How High Is High?":

"Gold is the senior monetary metal(silver being the junior). This has nothing to do with denials, derclarations, and desires of devaluation-happy governments. It has to do with the fact that the value of gold, unlike the value of other earthy wares, depends far less on scarcity, and is threatened far less by increasing supply. One may even say that the value of gold is exempt from the effect of the law of supply and demand."

"Often the rising of gold causes a contraction of supply. A blow-off may indeed cause a withdrawal of all offers to sell. After that happens, gold is not for sale at any price. But again, a blow-off may bring out an avalanche of supply. The essence of the value of gold, however, is stability. We conclude that the price of gold has nothing to do with the value of gold."

Dr Fekete in conducting session three of Gold Standard University Live to be held in Dallas, Texas, from February 11 through 17. For further information contact him at GSUL@t-online.hu or details about the session can be found on the website: www.professorfekete.com/GSUL.asp

Dr. Fekete states, Be part of the uplifting undertaking to resurrect monetary science. Discover the truth about money as the giants of monetary science, Adam Smith, Carl Menger and others have handed it down to us, before bribe and blackmail have overtaken the search for and dissemination of knowledge in economics.

Dr. Fekete nearly concludes the main article with the following powerful paragraph:

The world's finance capital is on its way to total annihilation. The essence of the subprime crisis was not the slack of lending standards. The essence is that the worm of doubt is eating confidence away. Banks no longer trust the promises of other banks. Under a gold standard trust could quickly be restored by paying out gold. That's what gold is for, to restore trust whenever doubt arises. But gold has been removed from the banking system. Now irredeemable promises can only be redeemed by issuing more irredeemable promises. In such a system the erosion of confidence cannot be checked. Lack of confidence becomes cumulative. It is like kicking garbage upstairs. When the attic can take no more, the day of reckoning has dawned, and the garbage comes crashing down."
 By bluejay

01/14/2008  10:05AM

Gold $904.00
Silver $16.38
Gold/Silver Index 55.19
Gold/XAU Ratio 4.57

The country's financial management is being run by a group of incompetents.

Keep listening and believing in them while the Fed takes you for a ride with your eroding purchasing power and in the end, you will be poor.

Gold is the international currency. Get out of dollars and dollar related items as fast as you can.

House prices are due to decrease 15% in the year 2009. At a 20% inflation rate that equates to a 35% drop in the purchasing value of the average person's key asset.

If you don't have, at least, a good portion of your assets devoted to ownership in gold and some silver coins you may end up being a statistic as the great majority of people's wealth is being washed down the river as a result of financial mismanagement of our elected representatives and our so-called leaders plus an out of control central bank that worsens inflation daily by creating more dollars out of thin air.
 By emf

01/10/2008  12:29PM

This comment is posted on Jim Sinclair's site

http://www.jsmineset.com/

It conncerns S.African mines being shut down for safety reasons. We know the gold is there...where's our financial angel?

These type of issues (see article below) are going to impact the supply side of the minerals industry for decades. There are very few new mines coming on stream and the ones that are producing are running full bore to capitalize on high metal prices.These mines are getting deeper, more dangerous to work in, and more expensive to operate, which is a scenario for production shortfalls in the future.




South African gold production has been declining steadily over the past few decades and if this trend continues it will soon lose its first place position - if it hasn't already. In 1970, South Africa accounted for two thirds of global output; now it's around 11%, the same as Australia. Since 1995, its gold production has dropped by half.

Anyone who feels that supply-demand fundamentals won't affect the gold market has got his/her head in the sand. We hear so much these days about oil shortages but nobody seems to pay attention to mineral commodities which underpin all industrialized economies. When you look at the price of mineral commodities today in real terms they are still relatively cheap by historical standards. There's still plenty of room for catchup and when that happens it will be a sight to behold.
 By Rick

01/09/2008  8:44PM

Rockroby, I'm putting your below-this entry back on top.
 By Rockroby

01/09/2008  5:12PM

Now if we could just get people interested in the positive aspects of the mine such as the people who run it know how to find gold & there is lots left to find and they are ready to get down in there and get it.The stock on the open market is at .75 cents & it's worth more then that,the need is to get people to start investing,the more people go to Yahoo MSN AOL Google and all the other financial browsers & just look at the OSTO stock it registers a hit then go to the message board and give it a strong buy with your reason why you think that and that will register hit,if enough people do it more and more people will look at it.
I left one on Yahoo on the 2nd & am still waiting for someone to rate it and even that would help.
The positive needs to be played up & i am convinced that the 16 to One will put California back on the map as a gold producing State.
Thank You
Craig
 By gfxgold

01/08/2008  10:50AM

At this moment, gold is at: $877.50. A new record. The Experts are saying that a triple threat is what's driving the price of gold up. The subprime fiasco, a soft dollar and hundred dollar oil. I like the idea of turning some soft dollars into hard gold. I think that's what the founding fathers had in mind when they wrote the constitution.
 By bluejay

11/21/2007  5:50PM

Gold $801.40
Silver $14.48
Gold/Silver Ratio 55.35
Gold/XAU Ratio 4.74

Dow Jones Industrial Average(DOW) 12,799.04 off 211.10

The DOW confirmed today that it has entered an intermediate bear market. The market just can not handle anymore writedowns from financial institutions.

The 200 day moving average line has been decisively broken to the downside by the DOW. Monday and Tuesday it appeared that aggressive hedge funds were unloading freight car loads of stock just under the 13,200 level.
 By bluejay

11/20/2007  2:57PM

Gold $803.40
Silver $14.71
Gold/Silver Ratio 54.62
Gold/XAU Ratio 4.67

What a difference a day makes!

Gold is up over $30 from late night's trading in the Monday Asian markets.

I don't know about you, but I'm starting to take offense watching the little tricksters, the bullion banks, jump to the tune of selling paper gold each time their handlers push the sell button.

All shareholders of gold mining companies in the U.S. have been severly damaged by the unethical exploits of the Fed and the Treasury Department to suppress the metal's price for some years now.

Gold should be selling for well over $2,000 an ounce and it's not and the gold mining companies hardly have a chance to produce profits because we are forced to transact our business in their rapidly depreciating fiat currency. The bottom line for us is, our costs are spiraling higher with no end in sight.

Jim Sinclair calls the CPI Index a cartoon. Keep reading jsmineset.com for current honest reporting of our financial system in meltdown that the media chooses not to cover.

The government has been trying to put the gold miners out of business for some time now. You just have to look north to Canada to see what our miners don't have. Quebec for example, totally supports their miners and actually pays a good portion of the company expenses for mineral exploration. Nothing like this in California, all we have is Darth Vader's dark legion of organized attorneys(CDAA).

Our U.S. Constitution clearly states that we are only to use silver and gold coins but the pimp money changers control the system. They make their own rules and no one stands up to them with any success.

GATA is one that tries for the miners. They currently have a lawyer attempting to disprove that our gold supply does exist at Fort Knox, West Point and in the vaults of Federal Reserve bank in New York so we can bring the government paid evil doers to justice.

Guess what? It's all gone to "deep storage." What's that? It's a trick to make us have to look for it in a maze in a place that doesn't exist.

The only way to save ourselves is to as quickly as possible convert our greenbacks into gold and silver coins. Gold and silver coins appreciate, unlike the greenbacks which are losing their value at a 20% clip this year.
 By martin newkom

11/20/2007  9:37AM

Some years ago in the Hall-
wood area adjacent to some
dredger tailings near Marys-
ville, a farmer drilled an
irrigation near his home and
the driller found Platinum
but not in paying amounts.
Tough luck!.
 By bluejay

11/18/2007  3:08PM

Gold $789.50
Silver $14.50
Gold/Silver Ratio 54.38
Gold/XAU Ratio 4.57

November 16, 2007

"One early-warning harbinger of inflation is the dilution of the dollar until it starts to lose exchange value against foreign currencies, and the dollar, with fits and starts, has been in a long-term bear market for several years."

"A falling dollar is inflationary, as it takes more and more dollars to buy increasing amounts of foreign-produced goods we are now buyings. Wal-Mart's soaring sales are a telling indicator, as they are China's biggest customer for cheap goods produced by cheap labor."

"Gold and oil are quoted in dollars, so up they go. And now the metals are rising, not just against the dollar, but against nearly all currencies as the metals grow in strength, with some dramatic retreats, WHICH ARE ONLY OPPORTUNITIES TO BUY MORE."

"The falling dollar explains early strength in the metals, and there is a lot more to come, as we continue to flood the international money markets, and now we don't even have to print them."

"This is now the Age of Cyber-money, when less than 5% of the dollars are minted or printed, but are only computer entries at banks. We don't even know how many dollars there are! The Fed has recently stopped publishing key money-supply numbers(M3) without explanation."

Howard Ruff
The Ruff Times

The day is slowly approaching where everyone's realistic wealth will be commonly valued, not in dollars, but in ounces of gold.
 By bluejay

11/16/2007  9:00PM

Gold $785.40
Silver $14.43
Gold/Silver Ratio 54.43
Gold/XAU Ratio 4.55

It's confirmed, the bullion banks were responsible for last week's weakness in gold. Dan Norcini of jsmineset.com has evaluated the CFTC data released today and has applied it to the Gold(COMEX) - Commitment of Traders 2004 - 2007 chart and has made the following comments:

"Notice something unusual about this chart(the chart can be seen at jsmineset.com) - look at the commercial short position - not their net short position but the outright short position being held by the bullion banks - it actually INCREASED in spite of the $42 plunge in price on Monday followed by the $16 drop in price on Tuesday. Both of these days are reported in the release of today's CFTC data."

"This occured in spite of very sizeable fund long liquidation(over 13,000 to be exact). This is a very clear indication that the gold price was FORCED down by the bullion banks-there are only two occasions that I can recall in the past few years in which a price plunge of this magnitude have seen an INCREASE in the commercial short position."

"On both occasions, it was evident that these players were deliberately attempting to force the price down. Normally, they lift or reduce the number of shorts on price downdrafts."

"It is interesting to note that that the ENTIRE decrease in the commercial net short position therefore came about because of very large end user buying by the other commercials."

The Wall Street Journal inferred in its Monday morning edition that gold can't even keep up with inflation? No wonder, with the henchmen bullion banks hammering it lower each time it starts a good run.

Why was the order given for Monday morning? Would it have anything to do with the stock market closing down hard for last week and especially on Friday?

Would it have anything to with the Financial Accounting Standards Board implementing rule #157 for the coming Thursday(November 15, 2007)?

This rule expands disclosing about the use of fair value to measure assets and liabilities.

This rule is basically the Board's establishing a measurement framework to expand disclosures associated with fair value measurements.

Rule #157 will force all financial institutions and other companies to call a spade a spade concerning financial instruments and their real value. The real value is the price these assets can be sold for into a willing market.

Unfortunately, many instruments like OTC derivatives have no market. Will these institutions mark them to zero? Their accountants might not but the auditors certainly will if they treasure their licenses.

There is a coming shock that will be felt by everyone, sooner or later. When people get the message, they will flock to gold, bullion banks or no bullion banks.

Somewhere down the road, physical gold buyers will have to square up with the short sellers. The big question is, where are the bullion banks going to get it from then? You can't be selling paper gold on the COMEX until the end of time.

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