November 28, 2020 
 Saturday 
 
 

Forum
Topic:
Gold Enters Major Bull Market

       

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 By bluejay

03/23/2008  8:42PM

Gold $908.50
Silver $16.83
Gold/Silver Ratio 53.98
Gold/XAU Ratio 5.28

Another informative article has just appeared on the jsmineset.com website entitled, "The Financial Destruction Of The Average Man."

Isn't it strange that the caliber of this type of information and the editorial content never makes it to our newspapers and TV?
 By bluejay

03/22/2008  7:45PM

In the below entry on the second to the last line the year 2001 should read 2011, sorry.
 By bluejay

03/22/2008  5:49PM

Gold $919.20
Silver $17.21
Gold/Silver Ratio 53.41
Gold/XAU Ratio 5.34

The week-ends are usually good times when the markets are closed to do some thinking.

The Gold/Silver Ratio hit an intra-day high of 56 last week while closing at 53.41. This means for every ounce of gold you can trade it for 53.41 ounces of silver. The 52 to 56 area is a chart location of major resistance.

During periods of wide swings based on extremes in buying and selling pressure support levels and resistance levels just get overrun at times. The major trend is towards gold buying less and less silver in the many months ahead. This means one thing, silver is expected to apppreciate on a percentage basis better than gold but gold will always be the crown jewel, not silver, for security purposes.

The Gold/XAU Ratio with Friday's close stands at 5.34. This means, being above 5.00 on the scale, that gold stocks are very inexpensive compared to gold's last price. The Philadelphia Gold & Silver Index price is divided into gold's price to get the Index figure.

Index followers bought gold stocks last week and will continue buying them next week. When the Index approaches the 3.0 level these same players will start to take their profits. That's the way it works.

The Philadelphia Gold & Silver Index(XAU) closed out the week at 172.01. The Index high this year has been 209.27. The Index is spiraling lower and approaching a massive area of support in the 150.00 to 160.00 area. This area was significant resistance for 20 years from 1987 to 2007. Based on very strong fundamentals for gold continuing higher, a major buying opportunity is close at hand for the gold shares as we approach major support.

During bull markets it is senseless in calling tops but more appropriate in acknowledging areas for entry or reentry based upon sound long term support logic on the charts.

A Tuesday, March 11, 2008, the following significant article was written by Mr. Jim Sinclair.

Federal Reserve Action Announces New Loan System To Member Banks.

The Federal Reserve action today formalizes what has been the policy of the fed from almost day one of the visibility of the credit and default derivative meltdown and credit market lockup.

What is occurring is THE MONETIZATION OF BANKRUPTCY.

The predictable result of monetizing bankruptcy is a significant increase in inflation and a sharply lower dollar.

The action speaks negatively for the 30 year US Treasury bonds.

Waht needs to be understood is that there are more than $20 trillion dollars worth of credit and default derivatives out there.

The next key point is that nominal value of this $20 trillion of credit and default derivatives becomes full value when the derivative fails to perform.

This comes on a modest capital injection into a bond guarantee company that facilitates pinning a tin AAA debt rating heart on them; something that is a total fallacy.

The problem at the heart of the deteriorating credit lockup situation is OTC credit and default derivatives that have failed to perform.

The inviting conclusion then is that $200 billion is as (a) pimple on the ass of an elephant.

Nobody in his or her right mind wishes to see what is coming in 2011. It approaches the ?Day After? and ?Mad Max? in a financial sense.

The only protection is hard assets of any type, shares or kind, and the Federal Reserve Gold Certificate Ratio, modernized and revitalized.

This time gold is not going to crater after achieving its max market valuation. That nullifies every top caller from $248 to middle-late 2001 without exception as well as those now so inclined. This will make mining companies very attractive businesses.
 By bluejay

03/20/2008  11:20AM

Martin

Thanks for the update.

The number one concern of the Fed is to not let the "daisy chain" of derivatives break.

If it did, the economy and the public would be sucked into a bottomless black pit of financial ruin.

As Mr. Jim Sinclair has said, there is no practical solution to the derivatives meltdown.

The Fed will try and instill confidence, while this continues, but putting bandages on a major crash victum that is slowly bleeding to death will not work.

We must protect ourselves. The only answer is to hold gold until such time that the anticipated financial wipeout has run its course.
 By martin newkom

03/20/2008  9:42AM

I read that now other investmt
bankers, ie Soldman Sachs, etal
are now allowed to borrow from
the FED. Res.
 By bluejay

03/19/2008  5:40PM

Gold $919.10
Silver $17.49
Gold/Silver Ratio 51.46
Gold/XAU Ratio 5.16

Gold continues lower tonight in Asian markets.

It appears since the Bear Stearns collapse that the anti-gold boys are pulling out all the stops to teach the gold enthusiasts a good lesson.

Earlier this evening the metal hit a low of $914.50 and currently is pushing higher at $925.10.

The Gold/Silver Ratio is at an important resistance area of 52.00 on its chart. This appears significant and gold may have already hit its low on this move.

Gold's abrupt weakness should be a lesson in understanding the freight that the anti-gold people had late Sunday night seeing gold above the $1000 mark and the following publicity that followed on Monday.

Well, what better way to inform the public that it was just a fluke than by gold hitting the skids directly afterwards?

Come on boys, do you really think that you can control a limited precious metal like gold while you flood the system with unlimited depreciating dollars??? Give us a break, please.

Gold continuing strong from its low with a last sale of $928.50.
 By bluejay

03/19/2008  11:54AM

Gold $937.20 -$44.10
Silver $18.37 -$ 1.30
Gold/Silver Ratio 51.20
Gold/XAU Ratio 5.22

Not too long ago Mr. James Sinclair stated that $100 swings in the gold price could become a reality. At gold $937.20 versus a high of $1033 Sunday night in Asia, we're almost there.

Gold is a tiny market compared to other markets. When you have so many players all stepping in at the same time, volatility is the result. Does this change anything? Absolutely not, gold is going forward.

At the heart of the problem is the Federal Reserve. As they run around plugging this financial hole and the many more expected to follow, they are ruining our money. They are making it worth less and less. This is an indirect form of taxation on the people that many just don't comprehend. The people just blame it on inflation but where does inflation come from? Inflation comes from the increase in money supply which the Fed is injecting unrelentlessly into the system just to save the fat greedy cats on Wall Street.

How did we ever come to this point? It was allowed to happen by the regulators. They did not ever choose to regulate or even control in the least, derivatives. Why? Because the amount of money made just alone on commissions for brokerage houses was just too good to be true for the Wall Street players and what is good for Wall Street, should be good for us all too, right? WRONG!! What the regulators were supporting by their inaction to safeguard the people was greed using an untested financial tool, derivatives. Now Americans must pay for the mess.

Mr. Alf Field recently submitted to kitco.com an article entitled "Till Debt us do Part" dealing with derivatives and the Fed. The following are some excerpts:

"The problem with drivatives is that these are individuals transactions between 2 or more parties. Often the transactions are arbitraged onwards to several other players. Everyone in the chain relies on all other parties to meet their obligations. If one party in the chain goes bankrupt, it can cause a domino like collapse of all the other parties in the chain - if the bankrupt party is a large player in derivatives. They are all "inter-connected."

"Bear Stearns is known to be a big player in the derivatives markets and must have a major counter party to many transactions with JP Morgan, given Morgan's huge derivatives positions. Hence Bear Stearns had to be rescued because of "inter-connectivity;" to prevent a melt down in the derivatives market. It can hardly be a coincidence that the bail out was routed through J P Morgan."

"Let us be clear about where this will end. It will end with the Fed and/or the US Governemnt owning or guaranteeing all the bad debts and losses from sources in order to preserve the existing system. It has serious implications for the value of the US Dollar, the international monetary system and for inflation. The vast quantity of new liquidity that needs to be created will almost certainly result in runaway inflation."

Today is a value shopping day for gold and other precious metals and the companies that produce these metals along with those that own properties that contain them.

While the anti-gold forces use funds that are guaranteed in one manner or another by our citizens to depress gold, they are on the other hand jacking up the money supply to increasingly historical levels which will support hyperinflation and financially ruin the common man.

Our only hope is to buy gold and the companies that own it in the ground.

Historically, with the Gold/XAU Ratio at 5.22, the Index is screaming buy me!

Historically, the buy area is above 5.00 and the sell area is at around 3.00.

Gold may be down $44.10 today but it is also the day of opportunity along with any other days like this that follow during this current spell of weakness.
 By Rockroby

03/18/2008  9:57AM

Show them the gold,just got off mining nerds and they have nothing on the 16 to 1 so i had to write them to tell them about this company.I did find another mine you can invest in close by; Bullion River to go along with the few others in this State Emgold & Sutter both Canadian outfits and their is a few more.
Get more pictures of the gold you are able to get out of this mine & the people that look at these websites will become more interested in the mine,just look at that sixty pound chunk of quartz with 300 ounces of gold in it now that is impressive when most mines are just looking for 1/4 ounce per ton to make a living.
Show them the gold
 By bluejay

03/17/2008  11:58AM

Gold $1007.10
Silver $20.11
Gold/Silver Ratio 50.08
Gold/XAU Ratio 4.99

The following was posted at 12:05pm today on the jsmineset website by Mr. Jim Sinclair:

M3 Camouflaging Attempts To Hide System Falling Over

Dear Friends,

The action of the Federal Reserve in declaring their lending on any collateral (which means no collateral in real value terms) to investment banks only instititionalizes what the Fed has been doing since all this started.

The most recent change in rates is an attempt to camouflage the enormous increase in the M3 that is inherent in the action to bailout an entire system now falling over.

I credit the Fed with making the situation obscure but the problem is going to continue to accelerate. There is no practical solution.

Gold last night ran to $1033 then settled back to the key number of $1024 where it sat until Washington woke up at 6:30am. $1000 to $1050 is an area that (they) will try unsuccessfully to restrain gold.

Gold is going to $1650.

When a commodity improves 655% the companies owning the commodity can only reflect that bull market, regardless of how hard any fund or funds try to stop it. Any such company with significant internal development will outperform.

Stay calm. Gold is headed to $1650 and I am almost certain that is much too conservative.

Regards,
Jim
 By bluejay

03/16/2008  5:32PM

Gold $1027.90 +$25.40
 By bluejay

03/16/2008  4:58PM

Shocking News

J.P. Morgan To Buy Bear Stearns For $2 A Share.

Bear Stearns(BSC-NYSE) closed Friday at $30 down $27 for the day. BSC made a high earlier this year of $159.36. Late last year the stock made an all-time high of somewhere in the neighborhood of about $175.

Bear Stearns' collapse can be tied directly to the fallout in the housing market, specifically the sub-prime market.

Now, people might believe that we are in the midst of a serious financial meltdown in this country which will be systemic.

No wonder gold is running, people are starting to get scared.

As Mr. James Sinclair has said:

THIS IS IT
 By bluejay

03/16/2008  4:31PM

Gold $1021.00 +$18.50
 By bluejay

03/16/2008  3:57PM

Gold $1014.90

Big push tonight in Asian markets.
 By bluejay

03/15/2008  12:33PM

Rick

Bill Murphy of GATA has lawyers working in an attempt to force the Treasury to allow an audit of our gold inventory at Fort Knox plus other holding areas.

The person to verify is a bonded and reputable CPA firm, not any government agency but is that possible? No way Jose!
They'll cite some conflict to national security which they seem to always come up with in order to hide suspicious activities.

Is the voice of the people really heard by its governments concerning the governments finances or stewardship of our gold? The English people were polled as to Gordon Brown's plan to sell a significant portion of Britain's gold some years back and the vote was 5-2 against. Did that stop Gordon? No. Some people have said that he is a puppet of the Fed and Treasury.

So, being realistic, it should continue to be just another very interesting conspiracy theory open for debate.

As to your question "where is everybody?," I believe they are up in Ontario and Quebec and other parts of the world where mining is supported by local government sudsidies.

The State Energy and Natural Resources Committee of the Senate is currently considering changing the 1872 Mining Law or abolishing it, all together.

What has been voted on by Congress already is to levy an 8% royalty mining tax on new mines and a 4% royalty tax on current operating mines in the country. What do you think that will do to start up operations and the existing maginal mines combined with a 30% mining cost inflation factor in place?

I don't believe that in this environment of spiraling mining costs a Senate approval of the proposed mining law changes would effect our company as much as others in California.

I see it effecting more the Idaho-Maryland reactivation in Grass Valley along with Sutter Gold Mines' expected feasibility study following their completion of drilling
just north of Jackson along Highway 49.

Our operation currently mines high grade gold for the jewelry industry along with other small amounts of ore to be poured into dore bars. As everyone knows our high grade sells for many times its gold content. So, I think our position is quite different than the other two.

We might, if the proposed legislation is passed by the Senate(with no presidential veto), be subjected to paying only a royalty on the gold content, but not on the actual sales price premium. This makes us much different but still, we are in a state that has not yet established itself as a proponent for its mining industry.

Hopefully, we will soon receive positive news from the board concerning a financing package.
 By Rick

03/14/2008  7:40PM

Bluejay, I value your input, so two questions tonight:

First, there has been some speculation as to whether the reserves in Fort Knox are still there. On the surface, it seems like great fodder for conspiriacy theory. Beneath that, we're all left with a speculative question....a subprime overwriting would seem like cupcake in comparison. Who's to verify?

Next...small cap or no cap, Allegany sure seems like a steal for a speculating developer. It is a sleeping giant. So where is everybody?

Given today's potential return, it would be difficult tie the recent court debacles to future risk.
 By bluejay

03/14/2008  6:31PM

Gold $1002.50
Silver $20.67
Gold/Silver Ratio 4.86
Gold/Silver Ratio 48.50

On March 12, 2008 David Vaughn in his article, "Gold Rules" carried this quote from Boris Sobolev who writes for resoursestockguide.com:

"Instead of trying to guess tops and bottoms, the best strategy is to continue to accumulate bullion as well as shares of junior producers, exploration and development companies on weakness. Gold('s) price is going much higher in the coming years and the prices of undervalued junior stocks are going to explode as they become targets for acquisition. A few short years down the road, the trepidations experienced today by investors in small cap gold stocks will look quite silly."
 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.

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