October 17, 2021 

Gold Enters Major Bull Market


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 By fredmcain

04/10/2013  4:55AM


That truly is amazing! Gold has fascinated people and motivated investors for millennia. However, I guess what I’d like to know is how expensive does gold have to get in order for us to attract investors and be able to expand the mine to new depths and dig new drifts.

According to the California State Parks Dept. website, the Empire Mine has a staggering 367 miles of drifts and winzes. To me that is absolutely mind boggling. I mean, geeze! That is bigger than the entire New York City subway system! What a terrible, terrible shame and tragedy that they are all flooded with water! Following a visit to Empire Mine’s museum in the 1980’s (I was bitterly disappointed that there was no underground tour), we later retired to a nearby restaurant where I overheard two old-timers talking who said that "there is an awful lot of gold left in there – it's just not profitable to take it out". Hmmmmn. Do you suppose that is true?

Anyways, if there is a similar deposit at Alleghany, then that means at 30 miles of drifts and winzes, we have just barely managed to scratch the surface. What will it take to expand the mine? Is it practical to do that?

You know, it is hard for me to fathom how in the world people could put their entire life’s savings or even mortgage their homes and put the money into the very latest and "sexiest" high-flying technology stock but be completely oblivious and uninterested in a mountain of gold in California. That makes absolutely no sense to me whatsoever. I bought a few tech stocks back in the 1990’s. Oh yeah! Got burned too! I wish I had that money back now ‘cause I now know what I’d do with it. :)

Fred M. Cain
 By dickdavis

04/09/2013  12:48PM

“According to the Economist, the total debt of world governments is about $50 trillion. Converting the tons of gold into ounces, there are about 6.03 billion ounces of gold above ground, which means there is roughly $9.5 trillion of gold compared to the $50 trillion of official government debt. Considering unfunded liabilities, the picture worsens, as the U.S. alone is estimated to have unfunded liabilities anywhere between $60 trillion and over $100 trillion.”

So if I did the 5th grade math right...all those zeros....gold should be $7936 per ounce to cash out all the paper.
 By bluejay

04/02/2013  8:54PM

 By bluejay

04/02/2013  7:41PM

Gold $1567.20 OFF $32.20
Silver $27.08 OFF $ 0.94

Interesting, as customer money in banks is being confiscated in Cyprus gold and silver are being sold. What to do with your savings? Mine are out of the banking system in property, stocks and coins. NEWS FLASH. The next time a bank fails here, they will reduce what you have on deposit with them if you happen to be one of the unlucky depositors. Hint, stay away from NYC based banks.

Mike Maloney and guest speak of gold and silver:

 By bluejay

03/18/2013  10:00AM

Gold $1606.90 UP $14.00
Silver $28.90 UP $ 0.13

When printing money isn't enough

From http://www.jsmineset.com


We have all heard by now the 10% confiscation of deposits made by Cyprus by order of the European Central Bank.

Also the coming onetime special property tax in Italy, as well as the message this weekend coming out of Madrid that a similar confiscation of wealth form bank depositors may be in the offing.

Now Switzerland may be considering a special bank depositor tax by paying negative interest rates (it’s basically the same as in Cyprus where the government takes 10% of your bank deposits).

Here in the USA, we have zero interest rates. All we have to do is let them drop to negative interest rates, and we’ll have confiscation of money. It’s really no different than Cyprus. If we think it can’t happen here, we may be blind. These situations, happening globally, are indicative of deep, underlying, irresolvable problems that will come home to roost.

CIGA Wolfgang
 By bluejay

02/24/2013  12:23PM

The necessity to own gold

Comments by Martin Armstrong:

Question: Has any government ever survived a debt crisis?

The answer to that is ABSOLUTELY no. This is simply how government always die and we do not speak Latin, Ancient Greek, Ancient Egyptian, Ancient Chinese, or Ancient Babylonian. They have ALWAYS, and without exception, used the same Obama Logic going on right now. They have routinely seen themselves as the exception to history. Such arrogance knows no bounds.
 By bluejay

02/22/2013  6:39PM

Today whistleblower Andrew Maguire told King World News that Eastern central banks have taken a massive 225 tons out of the physical gold market on this recent takedown. This is the first in a series of interviews with Maguire lifting the curtain on what is going on behind the scenes in the ongoing gold and silver war which continues to rage.

Eric King: “Give me an idea of the amount of tonnage being purchased on this decline.”

Maguire: “If you look at the daily tonnage being drawn down, we’re (now) looking at 20 to 30 tons per day of real allocations in dollar and euro gold. Shanghai delivery volumes have been extremely large as well on a daily basis. That’s just what we see clearing here through London and Shanghai....

“There is a lot of direct purchasing also going on. What I’m going to say to you is that it’s certainly in the 100+ ton area (this week alone). And that’s real physical (gold).”

Eric King: “Andrew, I know you were talking about just this week alone on the smash and what kind of gold central banks were taking out of the gold market, but what about when we expand that into the last 3 or 4 weeks? What are we looking at there?”

Maguire: “There’s at least 225 tons that have been drawn down. That is a huge amount of physical (gold). That’s gold which has to be found (in order to be delivered), that’s probably got (existing) claims on it. But as I said to you before, there was a crisis situation, and I think they were damned if they did and damned if they didn’t. They were forced to take this price down simply because the price was about to break out.

We had a very credible rumor of another CME broker dealer going down. This was before (gold) was looking to break $1,700. Who did this (takedown) help? Anyone who was short bought a bit more time. And anyone who was foolish enough to increase their margin long position was taken out at a better profit by the shorts.”

When asked about bids in the physical gold market Maguire responded, “It is exponentially increasing. The central banks and the sovereigns look at exactly the same information that we do. They are looking at how much paper selling power is left, and in whose hands it is (weak or strong long and short positions).

If they see the bullion banks at the lowest point of short positioning, and they see the managed money and the weaker hands holding the highest level of short positions, obviously they are in the market (accumulating large amounts of physical gold).

It really just needs to play itself out here. The result is going to be violent because it is a bubble short position, meaning the market is shorted by weak hands beyond anything I have seen before.”
 By bluejay

02/20/2013  7:06PM

Gold $1561.30 Down $43.30
Silver $28.48 Down $ 0.96

The NY bullion banks are putting extreme paper pressure on gold. For what reason we ask? The conclusion here is that a financial crisis is brewing or more expected currency devaluations are coming with some upward pressure on the dollar but putting potention strain on our export market. Who really knows?

Respected gold analysts are all saying this is a shakedown by the bullion banks would are forcing gold out of weak hands into theirs so they can benefit by the next big advance in the metal.

Below are a few words from Toby Connor from Gold Scents:

Investors just need to get through the bottoming process of this yearly cycle low. Considering that gold is now on the 15th week of its intermediate cycle, which usually lasts about 18-25 weeks We should be getting close.

Actually we are probably closer than it appears by that previous statement. The last intermediate cycle ran a bit long at 25 weeks. Long cycles are usually followed by a short cycle. So I would expect this cycle to run a bit short at 16-18 weeks.

All in all, I expect a final bottom sometime in the next 5-10 days. And once that bottom has formed gold should be ready to break out of the consolidation zone it has been in over the last year and a half and get busy delivering the second leg of that T-1 pattern.
 By bluejay

02/11/2013  8:21PM

My Dear Friends,

What does Russia know that is motivating their purchase of gold? What does China know that is motivating their intend to be the world largest owner of gold? What is behind the downside manipulation to separate you from your gold by scaring the hell out of you and you out of your positions?

This occurred in the 70s. It is nothing new. What is new is you.

The answer is very simple. Gold is not valued at $42 as the US Treasury would have you believe. The majority of the BRICs are going to mark to market valuation of their gold. That will put a necklace of gold on their currencies.

It is the major gold banks now operating in hopes of producing a waterfall of gold into which they will accumulate. Believe me because I know.

You are being royally had. You have a defense even if you are fully committed on a cash basis – simply do nothing.

If you are a coward, admit it and do whatever you have to do to get it over with. That certainly will memorialize the bottom before gold trades over $3500.

I can help people with logic. I have no hope of herding cats.

Jim (Sinclair)
 By bluejay

02/09/2013  12:18PM

Gold $1667.20 Down $3.80
Silver $31.43 Down $0.03

The following building debt in the country is the real reason why our handlers are trying to suppress precious metal prices. From jsmineset.com:

Federal Reserve – the Buyer of ONLY Resort

February 8, 2013, at 7:03 pm
by Dan Norcini

Dear CIGAs,

I came across the following story in my readings today and quite frankly, was thunderstruck after going through it and looking at the data. I did not think this was possible and am still at a loss to explain it so perhaps some of you math whizzes out there can make it simpler for me. Either way, it is simply mind-boggling!

Here is the title – see if it makes you sit up and take notice as it did me!

Fed Has Bought More U.S. Gov’t Debt This Year Than Treasury Has Issued

Here is the link:


Here are the appropriate links referenced in the article.


Federal Debt outstanding as of the end of the calendar year 2012: 16,432,730,050,569.12

Federal Debt outstanding as of February 6, 2013: 16,479,954,658,103.57

Amount of Increase in Debt: 47,224,607,534.40

If I did my math correctly, the size of the Federal Debt increased $47.224 Billion since the beginning of the year.


Now look at the Fed Balance sheet holdings of US Treasuries over that same period.

Fed Treasury Holdings as of Wednesday, January 2, 2013: 1,666,118

Fed Treasury Holdings as of Wednesday, February 6, 2013: 1,717,182

Amount of Increase in Fed Treasury Holdings since the beginning of the year: $51.064 Billion

That is $3.879 BILLION MORE than the US Treasury has issued this year!

Again, I have no idea how this is supposed to be possible but the numbers are what they are. Scotty beam me up. We are freakin’ doomed!

 By David I

02/06/2013  5:28PM

I like to keep my gold for an economic insurance policy against disasters to our economy.
 By bluejay

02/05/2013  9:44PM

A few words from Jim Sinclair:

Gold will rise to $3500 and above. Make sure you are there when it happens. Simply stop quoting it because that is the temptation to trade it. If you starve the paper exchanges of paper contract trading the game ends there. If the patsies do not show up on the paper exchange to be skinned, the skinning will stop. Join gamblers anonymous if you have to. Ladies and gentleman, prepare to defend yourself by doing nothing.

You frustrate any take down if you cannot be taken down. Stop giving the paper exchange your business and the paper exchange will stop. Here is an absolute way to beat the devil by "Gold and Silver Non Violent Resistance." Then we practice "Non Cooperation" as you exit the financial system as fast as you can, adopting direct registration or certification where it still remains. Keep your bank cash not in the bank, but rather in fully paid gold coins and sell a few when you need funds. Bite the tax bullet and get out of those retirement plans which really are plans to confiscate or direct your retirement funds into instrument of confiscation and treasury bonds.
 By bluejay

11/28/2012  11:21PM

Gold $1717.90 OFF $24.00
Silver $33.57 OFF $ 0.48

For whatever concocted reasoning gold experienced weakness today and may continue to remain anemic for a short period of time. In a matter of a limited number of years ahead, looking back at today's prices will speak loudly of a missed opportunity.

Are you ready for 2013? In January the U.S. Mint will remove the penny and nickel from circulation. The story below explains the basis for the Mint's decision from goldsilver.com.

It seems currency debasement as a result of inflation is their justification. In the future will the dime and the quarter be eliminated as well and will transactions be rounded to the nearest dollar?

And then there's the $100 Federal Reserve notes as the highest denominated bill in circulation. Is the day coming when the $100's in our pockets be as common as the $1 bills currently are? It seems time will tell if the $500 bills will be reintroduced back into circulation. In the past, some of the $500 bills, all of the $1000 bills, the $10,000 bills and the $100,000 bills were connected to gold(these gold backed bills were only exchanged between the Treasury and the Fed).

In this environment there is no monkey business when it comes to holding physical gold and the reason gold will continue to keep pace with prices no matter how many dollars are floating around in as many different denominations that are printed on these paper bills. The key point is that the purchasing power of gold NEVER changes.

"According to U.S. Treasury Secretary Tim Giethner, our U.S. Mint intends to remove the penny and nickel coins from circulation beginning early in January 2013.

The Mint currently spends about 4.8 cents per penny due to the rising costs of zinc and copper. A nickel valued at five cents now costs approximately 16.2 cents to make due to inflated nickel prices.

In comparison, the dime and the quarter are much more practical forms of coin currency. The dime only costs about 9.2 cents to mint and the quarter checks in at 21.31 cents. However, due to continued (real)inflation expected in 2013, Giethner has warned that the dime may be in jeopardy of extinction as well."

..............Isn't it interesting that the Mint blames increasing costs on rising zinc and nickel prices when these prices rose as a result of the increased currency expansion mainly by the banks with the smaller increase coming from the Fed itself?

There is no mistake about it, inflation as a result of currency expansion is the greatest long term tax of all, a direct tax that very few grasp and the reason why people in general, will be financially dragged down the rabbit hole.

For the family's long term financial survival, a certain amount of your wealth demands to be in gold.
 By bluejay

11/19/2012  7:04PM

Gold $1733.20 UP $19.50
Silver $33.18 UP $ 0.87

Excerpts from an Eric Sprott/Greg Hunter interview:

Money manager Eric Sprott says, “The central banks’ gold is likely gone with no realistic chance of getting it back.” Don’t expect this revelation to get any coverage by the mainstream media. In an interview last week, Sprott’s analysis was met with words such as “gold bug” and “conspiracy theory.” Sprott answers that sort of disrespect by saying, “We’ve had so many conspiracies, I don’t know why anyone would think this was unusual.” To back up his point, he named “LIBOR, electricity markets in California and the Madoff” scandals. Sprott’s analysis shows a “flat supply” and at least a “2,500 ton net increase in gold demand” since 2000. “Where’s all the gold coming from?” asks Sprott. He says Western central banks “. . . keep supplying this market with product in order to keep the price down so nobody knows how vulnerable the situation is.” Sprott, who manages nearly $10 billion in assets, boldly proclaims, “We have a shortage of gold.” Join Greg Hunter as he goes One-on-One with Eric Sprott of Sprott Asset Management.
 By bluejay

11/04/2012  8:26AM

It doesn't get any more bullish for buying silver in here than the news from Jim Sinclair of a major failure to break the silver market.

November 4, 2012, at 2:58 am
by Jim Sinclair in the category In The News | Print This Post | Email This Post

My Dear Friends,

There is much discussion this weekend of the following:

Almost 192 million ounces of paper Silver were ‘dumped’ on the market Friday within ten minutes upon the NFP release. This is the equivalent to one-quarter of the world’s annual physical Silver production.

Have you for a moment considered that 192 million ounces of silver were purchased on the market on Friday within 10 minutes?

Respectfully yours,
 By bluejay

11/02/2012  5:02PM

Here we go again,

Gold $1676.90 OFF $38.10
Silver $30.91 OFF $ 1.35

Don't know which is sadder either watching these foolish paper dragons scare holders of physical gold and silver with their dirty tricks or sensing their induced fright in people from losses they believe they are experiencing on days like these.

The only thing I know for sure is I have to pay more for less at the supermarket and I'm being bombarded on TV with Monsanto hacks telling me prop 37 here in California is a "no vote."

Sorry, I'm not falling for manipulated metal prices(only to get great buys), thinking cereal boxes are as full as you would suppose from their box sizes and I'm not falling for all the hired quacks trying to get my approval against labeling Frankenstein foods.

I was thinking of food debasement because our currency debasement is a never ending story that requires us to add to our physical holdings with today being another great opportunity. This id not the day to be scared but the day to be bold with a few buy orders. Step up to the plate and take a few swings. I've been doing just that, even at last week's higher prices. Early next week I'm going in for a few more pieces.

Jim Sinclair is looking for $6000 on the yellow metal. Mr. Sinclair is 71 years old and is referred to in the gold community as "Mr. Gold" for his past brilliant forecasts.

As the people get squeezed more and more by governments and as more and more inflation creeps into the system gold will always be your family's savior.


I use http://www.golddealer.com and http://www.apmex for my coin transactions.
 By bluejay

10/21/2012  11:05AM

Gold $1720.50 OFF $21.10
Silver $32.07 OFF $ 0.75

Little men in the halls of power are paper-pushing gold lower with elections nearing in hopes of redirecting attention away from what gold has been shouting about their failures.

The games will be quite expensive down the road with the public holding the bag when the piper has to be paid.

It seems we currently have other big players in the game:

Billionaire Investor Giustra Stays Positive on Gold

posted on Oct 21, 12 01:28PM Use the IP Check tool [?]

Sunday, 21 Oct 2012 12:23 PM/marketwatch.com

By Dan Weil/excerpts

Billionaire Canadian investor Frank Giustra, who has been bullish on gold for at least 10 years, is sticking to his guns.

Gold’s appeal lies in the fact that it’s a tangible asset, Giustra says "It is moveable. It is easily transferable across borders in times of crisis. It's a currency. It's liquid. It's easily tradable. I'm a fan of all hard assets, but particularly gold. It's the largest part of my portfolio, and it will continue to be until this cycle is over."

Frank joins the ranks of other billionaire gold holders like Carlos Slim from Mexico, the richest man in the world.
 By bluejay

10/17/2012  11:30PM

Check out http://www.kingworldnews.com and read the story concerning the LBMA being a Ponzi scheme in a part three interview of a London trader.

The whole Exchange operation is like a casino but when you go to cash in your chips that represent gold and silver you find that the cashier's vault is empty. The Comex and LBMA today shouldn't even be called metal exchanges but rather "betting parlors" or "bucket shops."

The current environment with physical gold and silver is like it was in late 2008 following the financial crisis when the metals were beaten down with paper sales, people wouldn't sell physical because they didn't believe the posted prices.

The interview ended with these two sentences: "But we will see a day when silver(as well as gold) can no longer be capped through paper trading and various games being played at the LBMA and COMEX, and in the end, it will be the physical market which will be the deciding factor. At that point you will see the real price of silver for the first time, and it will leave people in disbelief.”
 By martin newkom

10/17/2012  4:20PM

Why can't one establish an ETF
or an LLP for the purpose of
Holding Gold,ie the "Sixteen to One Mining Exchange Traded Fund"
(For the express purpose of group ownership of Gold. They are doing it in the oil and gas industry. The participants are partners in the operation and enjoy a significant tax advantage. The fields of endeavor are in exploration,
extraction, pipelines, storage
as well as tankers.
 By bluejay

10/17/2012  3:01PM

N.Y. metal changes

Gold $1749.90 UP $1.60
Silver $33.20 UP $0.24

A quote from Jim Sinclair today:

"It’s clear that demand for the US Dollar is waning and certainly when national leaders watch a US debate like the performance yesterday they must reinforce their theories significantly that the path our nation is on is one of currency debasement."

Our job is trying to save and add to our gold

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