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Wait til the Yuan gets added to currency basket and IMF pivots to China...all the roosters will be coming home to the Fed and where will Goldspan & Bernacke be? Of course kicking it in retirementville with a white sandy beach somewhere probably in the Caribbean with drinks in their hands and feet in the clear blue water soaking it all up with their book revenue and personal appearance money just like out of touch Lesbian Sir Hillary.
Wait til the Russians start to implode from economic strangulation by the West really takes hold in another a year or so if they continue down their path. That big reserve of $330 billion will evaporate but before that you'll see Uncle Fester Putin make nice and save face with the West before they cut their hands off. but the good news I have been kicking the Russians asses myself by shorting their rouble LOL...down blind baby down and reinvesting the profits into those wild and crazy guys the EURO!!!!!!!!!!!!!!
Hi NYBob,
Frankly, I don't see how the Fed can raise rates. The debt is so almost unbelievably gigantic that it can't really be serviced now and yet raising rates would make it that much more unmanageable. Raising rates significantly would destroy the economy. Banks with their crazy mega trillion derivative bombs would explode first. They are psychopathic money junkies who care about keeping their private casino going as long as possible. They might talk a good game about raising rates, but they won't do it. They're pushing on a string.
It's ironic that the Fed was created in 1913 with the promise of controlling booms and busts, and yet that's all they did themselves (along with starting wars to benefit the big banks). Wilson promised to keep us out of war, but after the Fed got started, we got WWI (A war we had no business participating in). Then the Fed, with their easy money policies caused the boom of the Roaring 20s. The bust of the Great Depression helped them buy up stuff pennies on the dollar. Then WWII and endless war after that...booms and busts and bubbles--all helped created by the Fed. The internet bubble and bust. The housing bubble and bust. Now the stock market bubble and....
All the while, they rig the price of gold and silver. After all, as long as their debt dollar has value, they can print it up endlessly while printing paper gold and paper silver. They can't have REAL money competing with their private printing press and if they can keep gold and silver low they can say the canaries in the coal mine are healthy and everything's fine and dandy. The stock market also can be touted as a sign of a healthy economy. Never mind that most Americans are living paycheck-to-paycheck and/or on food stamps. Never mind that the rise in the stock market mostly benefits the 1/10th of the 1 percent who control the printing press in the first place.
I don't know when it will all end, but it won't end pretty.
When the Fed start raising rates -
Gold rise in market price -
When Fed was tightening -
Gold was indeed rising in value simultaneously -
Ex.
From June 30, 2004 to June 29, 2006 the Fed hiked the Fed funds
rate 425 bps, from 1.0% to 5.25% -
Over that same period, gold rose from $392.10 to $599.10,
a gain of 52.8% -
From June 30, 1999 to May 16, 2000 the Fed hiked the Fed funds
rate 175 bps, from 4.75% to 6.5% -
Over that same period, gold rose from $261.25 to $275.30,
a gain of 5.4%.
And then perhaps most notably (and obvious):
The Fed began a very aggressive tightening campaign in August
of 1977 to reign in the rampant double-digit inflation of the
1970s -
Prior to that first rate hike, Fed funds stood at 4.75% and
gold was trading in the $130 to $150 range -
By March of 1980, the Fed funds rate stood at 20.0% -
a rise of an astounding 1,525 bps.
In January of 1980, gold reach an all time high of $850.00 -
An equally astounding rise of 507%! -
another significant cycle saw more than 1,000 bps in tightening
from the spring of 1972 into the summer of 1974 -
Gold nearly tripled in value, from less than $50 -
to nearly $140.00.
Sprott is the major shareholder of
Drumlummon Gold & Silver Mine -
timeline -
1876 —
Irish miner Tommy Cruse discovers gold near Marysville and starts
tunneling into the hillside.
He names the mine Drumlummon after a parish in his homeland.
1883 —
Cruse sells the mine to the fabled Rothschild family
for $1 million cash and $500,000 in shares.
The mine employs 165 men and is 1,600 feet deep.
1892 —
A fire breaks out at the 1,200-foot level.
They flood it with 5,000 gallons of water to put it out.
1895 —
Water starts to be pumped out of the mine so they can drill deeper.
1896 —
A cyanide processing plant is built.
1910 —
The Drumlummon is shut down after the operators lose a 20-year
lawsuit that included five appeals to
the U.S. and Montana supreme courts.
1911 —
St. Louis Mining and Milling Company, the successful litigant,
takes control of the mine and leases out the operations.
http://helenair.com/news/local/drumlummon-mine-timeline/article_cb40fdea-ae37-11e2-b0a0-0019bb2963f4.html
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=86265644
http://www.us-silver.com/Operations/Drumlummon/default.aspx
http://investorshub.advfn.com/US-Silver-&-Gold-Inc-USGIF-12388/
U.S. Silver & Gold Inc - Latest Presentation -
http://www.us-silver.com/Investors/Presentations/default.aspx
http://www.us-silver.com/News-and-Events/News-Releases/News-Release-Details/2014/US-Silver--Gold-announces-results-of-shareholder-meeting/default.aspx
http://www.us-silver.com/
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=105741325
I mentioned last year silver spot would drop below $20 and plummet as usual no one was listening. I knew the surplus of dollars was coming bc when you print trillions of dollars to flood markets what do you expect to happen? It basically is a USA Govt weapon for putting inflation onto other countries economies like a sledgehammer. It has the opposite effect of when US needed money during financial crisis and liquidity dried up...they didn't have it. So- they started printing even more and more...started QE's. I knew it was going to peak the metals markets idiots always leap headfirst into metals in LOL "times of safety"...hence silver flew up it was very predictable behavior to me anyway. Just as predictable was the future drop...for same reasons I stated above. I sold a portion of my silver bullion off at peak...kept the rest. Then starting positioning myself for the long drop which I knew would take years.
That's when I started shorting right after the peak...and haven't let off the hammer yet. It's still over valued IMO it could wind up somewhere around $10-$12 an oz when it's all said and bottomed. Watch the weak mining outfits without much cash in the bank capital fall like dominos...it always happens you know that to be true.
As the spot continues to drop downward pressure on silver stocks will continue...less margins...to much debt...not enough cash...to high of labor and operating costs. Copper and lead separation and recovery will not be enough to carry companies like this one IMO either.
I told you guys that back in July this mining outfit IMO I probably wouldn't buy this back at .25 based on what I know about lots of things. I don't see the current PPS as a deal by no means it's weak and going to drop much further the more spot metal prices decline even further which is happening daily month by month year by year. It's going to bleed many miners out of a business and your going to see some really smart business people snapping up mines for bottom dollar prices or merges over the next 1-4 years and consolidation by some majors with small time JVers. It always happens. Then your going to witness miners shutting mines down...what are your options if you own one really start writing personal checks to pay your bills? If spot continues to slide and it's not profitable it's inevitable only the strong survive. Now if this dropped below .20 I could be interested but only with an eye on the spot metal prices.
Mav
That's why I am being as usual very selective.
Silver continues to get shellacked by the people with an unlimited supply of dollars. You may just see that .25. I never would have thunk it...
Back in July I stated I wouldn't buy this at .25 and still stand by that.
this should be about it
You are correct sir! Ain't gonna be this cheap again!
Those Canadians don't ya love em egh? Haven't they figured out the Galena and how N. Idaho rolls yet? God please bring Tom Parker back to me.
When the Fed start raising rates -
Gold rise in market price -
When Fed was tightening -
Gold was indeed rising in value simultaneously -
Ex.
From June 30, 2004 to June 29, 2006 the Fed hiked the Fed funds
rate 425 bps, from 1.0% to 5.25% -
Over that same period, gold rose from $392.10 to $599.10,
a gain of 52.8% -
From June 30, 1999 to May 16, 2000 the Fed hiked the Fed funds
rate 175 bps, from 4.75% to 6.5% -
Over that same period, gold rose from $261.25 to $275.30,
a gain of 5.4%.
And then perhaps most notably (and obvious):
The Fed began a very aggressive tightening campaign in August
of 1977 to reign in the rampant double-digit inflation of the
1970s -
Prior to that first rate hike, Fed funds stood at 4.75% and
gold was trading in the $130 to $150 range -
By March of 1980, the Fed funds rate stood at 20.0% -
a rise of an astounding 1,525 bps.
In January of 1980, gold reach an all time high of $850.00 -
An equally astounding rise of 507%! -
another significant cycle saw more than 1,000 bps in tightening
from the spring of 1972 into the summer of 1974 -
Gold nearly tripled in value, from less than $50 -
to nearly $140.00.
Sprott is the major shareholder of
Drumlummon Gold & Silver Mine -
timeline -
1876 —
Irish miner Tommy Cruse discovers gold near Marysville and starts
tunneling into the hillside.
He names the mine Drumlummon after a parish in his homeland.
1883 —
Cruse sells the mine to the fabled Rothschild family
for $1 million cash and $500,000 in shares.
The mine employs 165 men and is 1,600 feet deep.
1892 —
A fire breaks out at the 1,200-foot level.
They flood it with 5,000 gallons of water to put it out.
1895 —
Water starts to be pumped out of the mine so they can drill deeper.
1896 —
A cyanide processing plant is built.
1910 —
The Drumlummon is shut down after the operators lose a 20-year
lawsuit that included five appeals to
the U.S. and Montana supreme courts.
1911 —
St. Louis Mining and Milling Company, the successful litigant,
takes control of the mine and leases out the operations.
http://helenair.com/news/local/drumlummon-mine-timeline/article_cb40fdea-ae37-11e2-b0a0-0019bb2963f4.html
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=86265644
http://www.us-silver.com/Operations/Drumlummon/default.aspx
http://investorshub.advfn.com/US-Silver-&-Gold-Inc-USGIF-12388/
U.S. Silver & Gold Inc - Latest Presentation -
http://www.us-silver.com/Investors/Presentations/default.aspx
http://www.us-silver.com/News-and-Events/News-Releases/News-Release-Details/2014/US-Silver--Gold-announces-results-of-shareholder-meeting/default.aspx
http://www.us-silver.com/
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=105741325
Silver Update 8/20/14 Peak Silver -
The Gold War - Thinker, Trader, Holder, Why?
http://www.marketoracle.co.uk/Article46973.html
U.S. Silver & Gold reports second quarter financial and operational results
08/12/2014
http://www.us-silver.com/News-and-Events/News-Releases/News-Release-Details/2014/US-Silver--Gold-reports-second-quarter-financial-and-operational-results/default.aspx
http://www.us-silver.com/Investors/Presentations/default.aspx
http://www.us-silver.com/Home/default.aspx
http://politicalvelcraft.org/silver/
God Bless
Thanks for sharing this about USGIF
I like the part that says.
"The fact of the matter is that USSG is flying under the radar when it shouldn't considering that it is a quality company that making improvements and generating cash-flow all the while it is undervalued. I suspect that as the company begins to report profits investors will see how USSG has improved its cost structure and its potential as a long-term producer with a very long mine life. This makes the stock a buy at the current valuation, and the time to get in is now before other investors figure this out."
and
"The market has begun to recognize USSG's cost-cutting measures, and we can see this in the company's relative outperformance: the company's stock has outperformed the Global X Silver Miner ETF (NYSIL) this year by nearly 30%. However on a DCF basis I think the Galena Project is worth substantially more than $39 million at $21/oz. silver. Given that the net value of the company's other assets comes to about $0 assuming its other two mines have no value we can see that by extension USSG shares have significant upside potential from here."
I do not agree that the' other assets besides the Galena Project are worth $0" ?
At least someone is noticing our little company though.
One of these days...
Silver Manipulation To End; $150 Per Ounce Possible - Video
Published in Market Update Precious Metals on 28 July 2014
By Mark O’Byrne
INDIAN SILVER IMPORTS: Near Record At A Quarter Of Global Mine Supply
Filed in Mining, Precious Metals by SRSrocco on July 23, 2014
It looks like at least one country is still taking advantage of
the extremely low paper price of silver.
From information just released, India continues to import a near
record amount of silver in 2014.
Even though silver imports slumped in June compared to last year,
demand is still extremely strong.
According to Mineweb’s article on India Silver Imports:
Market sources added that import of silver in the calendar year
of 2013 was around 5,819 tonnes, the highest ever.
The previous high was in 2008, when import was 5,048 tonnes.
However, despite the fall in June, sources said the first half
of 2014 has seen silver imports at 2,882 tonnes, as against
2,980 tonnes last year, for the first six months of 2013.
As the article states, India imported 2,882 tonnes of silver in
the first six months of the year, down slightly from
the previous record set last year at 2,980 tonnes.
We must remember, the Indian government enacted restrictions
on gold imports in 2013… forcing its citizens to purchase
silver instead.
On top of this, we had the huge smash in the paper price of silver from a high of $32 in the beginning of 2013, to a low of $18 in June. Again, even with falling silver imports in June, total silver imports are expected to reach 5,000 tonnes in 2014.
Just to put into perspective the amount of Indian silver imports, let’s look at the following chart:
By converting 2,880 tonnes of silver, we get 92.6 million ounces
of the shiny metal.
According to the 2014 World Silver Survey, global silver
production exceeded 800 million ounces in 2013 (not by much).
Thus, India imported 23%, nearly a quarter of global mine supply.
This is a substantial amount of silver when we compare it to their
domestic mine supply.
The chart below is from the Silver Institute website, provided by
data published at Thomson Reuters GFMS, the same organization that
releases the World Silver Survey and ironically…. one of the new
custodians for the SILVER FIX.
If we scroll down the chart, yes down below Kazakhstan, you will
see that India ranks thirteenth in the world at 12.1 million oz
of annual silver production.
With a population of over 1.2 billion, it’s no wonder India
needs to import silver to meet the demand of its citizens.
Total annual Indian silver production represents just one-tenth
of one percent of the population of the country.
What do you think will happen to silver demand in India when
its citizens realize their Rupee is just another lousy fiat
currency?
Furthermore, to add even more perspective on the subject of
silver mine supply vs. silver imports, I decided to include
the United States into the equation.
Using data from the Silver Institute, the USGS and information
from the Mineweb article linked above, I threw together
the chart below.
Last year, India produced 12.1 million ounces of silver, while
it imported 15 times that amount at 187 million oz.
The United States performed a little better in the mining arena
by producing 35 million ounces versus 163.3 million oz of
silver imports…. nearly a 5 to 1 ratio.
If we combine the two… we come up with some startling results.
Total silver mine supply from these two countries equals
47 million ounces compared to the staggering 350 million oz
in silver imports.
Basically, India and the United States imported nearly half (44%)
of total global silver mine supply in 2013.
And.. if that isn’t eye-opening enough, Indian and U.S. domestic
mine supply only represent 13% of their total silver imports.
Which means, they import a hell of a lot of silver.
Of course these countries export some of this imported silver
as finished products… but still, it represents
a substantial amount.
So what happens when the world finally experiences a severe heart-
attack of its Fiat Monetary System? Yes, I realize there are still
individuals out there who believe the U.S.
Dollar is as good as gold and we will continue BAU –
Business As Usual for another 100 years.
Unfortunately, the degree of negative geopolitical, financial and
economic events are speeding up rapidly and it’s only a matter of
time before the horror movie, NIGHTMARE ON MAIN STREET opens at
a town near you.
Do we really believe top silver producing countries like Mexico
and Peru as well as many other South American countries will
continue to give away their silver for a mere pittance when
the Dollar finally loses its World Reserve status?
Investors around the world have no idea of the bargain they are
receiving by purchasing one of the best future stores of wealth….
at rock bottom prices.
This may seem like the same ole WORN-OUT rhetoric to precious
metal investors who are presently underwater with some of their
gold and silver holdings; however the focus has always been on
ACQUIRING OUNCES… not TRADING or valuing them in a fiat currency
that gets closer to going EXTINCT each passing day.
-END-
Mexico Looks To Back Peso With Silver: “Would Unleash a Global Power Shift”
Friday, July 11, 2014 10:44
http://beforeitsnews.com/survival/2014/07/mexico-looks-to-back-peso-with-silver-would-unleash-a-global-power-shift-2530606.html
Silver's Monetary Rise -
India Imported 713 MT Of Silver In April, 1921 MT YTD -
Published: 17-07-2014 00:07
India Imported 713 MT Of Silver In April, 1921 MT YTD
Precious metals analysts have received a few gifts from the
authorities this year.
In January the Swiss Customs Administration (SCA) decided to
disclose their gold trade data country specific (previously only
the total import and export numbers of bullion were available),
also in January British customs (HMRC) decided to add gold in
their trade database (in previous years UK gold trade could only
be tracked through Eurostat),
Malaysian plane was shot down by missile, US official says -
By Peter Leonard and Mstyslav Chernov |
ASSOCIATED PRESS JULY 17, 2014 -
http://www.bostonglobe.com/news/world/2014/07/17/passenger-plane-carrying-shot-down-adviser-ukrainian-official-says/m1sQJvByNCi7Vn5ncwEAjL/story.html
Gold prices surge after Malaysian Airlines flight MH17 shot down over Ukraine -
July 17th, 2014 16:02:14 GMT
by Adam Button | 0
The price of gold has risen more than $20 since the first reports
that a plane was shot down in Ukraine by a surface-to-air missile,
killing 295 passengers and 15 crew.
gold after Malaysian Airlines MH17 crash
gold intraday chart
Gold, bonds and the yen are the traditional safe havens
in times of geopolitical fear.
That’s exactly what we’re seeing now.
The initial reaction is always a flight to safe assets while
the details are sorted out.
The question traders are asking now is:
What are the consequences?
Does it put more pressure on Russia?
Is that a good thing to end the separatist conflict?
How will Malaysia, NATO and the US respond?
Normally, I always like to fade fear but there are some
legitimate reasons to be fearful and stay in safe assets here.
INSIDER TRADING AND FINANCIAL TERRORISM ON COMEX -
The first two days this week gold was subjected to a series of computer HFT-driven “flash crashes”
by PAUL CRAIG ROBERTS | INFOWARS.COM | JULY 17, 2014
http://www.infowars.com/insider-trading-and-financial-terrorism-on-comex/
A bill to audit the Fed.
The Sun's editorial is headined
"Congress Eyes Rules for the Fed" and it's posted here:
http://www.nysun.com/editorials/congress-eyes-rules-for-the-fed/88780/
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
U.S. Silver & Gold Inc - Latest Presentation -
http://www.us-silver.com/Investors/Presentations/default.aspx
http://www.us-silver.com/News-and-Events/News-Releases/News-Release-Details/2014/US-Silver--Gold-announces-results-of-shareholder-meeting/default.aspx
http://www.us-silver.com/
Dr. Paul Craig Roberts A Real Collapse in the Dollar, Gold Could Be
$30,000 an Ounce -
Mexico Looks To Back Peso With Silver: “Would Unleash a Global Power Shift”
Friday, July 11, 2014 10:44
http://beforeitsnews.com/survival/2014/07/mexico-looks-to-back-peso-with-silver-would-unleash-a-global-power-shift-2530606.html
Silver's Monetary Rise -
"Now look at PPS charts far back as you can with HL."
Well, I followed your advice. In 2001 silver was 4.1-4.8 and HL price was 0.5-1.1. PPS recovered pretty fast (4.5-5+ in 2002 with silver still in $5 range) but the PPS is definitely correlated with silver spot and will fall sharp if silver price goes where you think it should go. In general, long term HL is not as "stable" as one can imagine. PPS rallied above $10 and dropped below $1 last 10-15 years. Of course, fundamentals have been changing significantly (acquisitions, etc.) but price of silver was a major contributor (IMO).
Don't get me wrong - I like Hecla and own some. At least, it will never go bankrupt when many other companies do.
Even if PPS dropped down again to the .25 level I just don't think I'd be a buyer...I just don't know the mine under the current management will ever develop it properly and I can't see the PPS ever getting back up to the $2.00 range. You need funds to explore- they don't have it. You need large crews-they don't have it. They are only staying afloat by cutting back mining staff since the silver spot has declined-and what happens if it drops down to old school levels of $5-$7.50 spot oz's?
Now HL that's a world class producer completely different corp management who has mined back in those $5.00 to $8.00 spot price oz's successfully. I should know I've been around that long...I've seen the pretenders show up in the silver valley for 35 years...seen them come and seen them go. HL they aren't going anywhere and if spot prices dip further down they are positioned to operate and still be in business. USGIF...well maybe...but my guess probably not. It's a brutal business the open global spot oz market- and owning a mine can burn you real quick- because you can't control world markets.
I want to make this clear I'm not saying USGIF isn't a good stock- it's just IMO they don't have the money backing them, resources, crews to really get after it to ramp up production and keep exploring like they could be. I've been watching and I thought I would come back in- but only if certain things occurred that made me want to say ok- and they haven't. That's what happens when spot prices rise so dramatically and crash just as fast then peter out in a range that barely keeps one afloat. IMO I think the current management blew their opportunity with Galena...and spot prices haven't helped them much at all.
Look back at spot metal prices before the economic meltdown...even way back further decades. Now look at PPS charts far back as you can with HL. Match it up.
US Silver was something I believed in before the new guys rolled into town and Tom retired. I knew who sprott was and I sold out 100% because I know what happens- I've seen it many times. I didn't want anything to do with the new management. It's been leveraged and screwed with- I knew that was going to happen saw it from miles away-before it happened.
You can't really blast open up-sink new shafts can you in new territory really without any money or running on small mine can you?
The markets overlooked silver for decades- and the economic meltdown that I suspected was coming would force the spot price and certain companies stock up. That's why I positioned myself when no one was looking and sat waited for years.
USGIF was a decent deal at .25 after the RS when it dipped...but I still didn't want to get back in. It's since doubled not bad if people timed it- I was out and stayed out...I just don't care for the new management and lack of cash flows to properly explore and create more reserves and still run it profitably for decades.
Some examples of your recommendations (forgot to include the link in my previous post):
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=94489355
How will $7.5 silver affect HL share price? Is HL buy, hold, or sell here? You are famous for "selling at the top" while telling everybody to buy. This what happened on USGIF board. Is this the case with HL now?
Your off base- the silver spot price has declined right on cue just like I knew it would that's what I was speaking of. It is you that is confused I never said I shorted HL and never will- even though I have the money, shares, trading skill and moxie if I chose to.
I do short-quite a bit actually...in other stocks. This one I never screw with it-I make to much money just timing it for 30+ years...and really who bets green 24-7? People who don't more than likely are not aware how to do it or can't handle pulling it off without fretting on a margin call they don't have- not my problem.
I was here before the stock hit .03 where were you many years ago? IMO this companies management doesn't have what it takes to take this to the next level-I know that firsthand. I knew the old management...sat front row in shareholders meetings. I knew Sprott was coming and I timed it perfectly.
These guys are overly leveraged I know what I am talking about- I've been down to the bottom of that mine decades ago and I know what was in it and I know what's still in it today. I know exactly where they are right now and I know exactly where they need to go. So tell me something I don't know? But next time you try to step on my shoes- you may want to say excuse me sir.
By the time they dump the lead and separate the silver send it out of the silver valley up to BC- I know whats going on.
They are running a small mine force- powered down the drills and hammers-saving money bc the silver oz has dropped like a rock in Lake Coure de Alene. They have no choice but to continue that process.
Why are you calling me a wise ass? I believe a very fair point was made in terms of your posts. You make some pretty powerful statements about HL, which I as well as others thank you for but the to jump on this board and say something that is so contradictory what you say on The HL board makes no sense other than a desire to push price lower.
"That doesn't and never will work for me-I've acquired a considerable portfolio of which HL is my bedrock position and I never intend on relinquishing it either-irregardless of what any analyst has to say about it either good-bad-ugly-mediocre-hold-your mommy your daddy... "
Your desire to short these stocks won't make it go to $7.50.
You may think I'm a wise ass but your the one that's full of shit and I believe most people have caught on to it.
You should- I shorted it since Jan 2013- and told you people again all year it would continue to drop. I guess with 35 years of buying silver-secured storage of it- trading it I don't know what I am talking about. Even though I'm up over 30% plus on the slide- which will continue to fall. Even though I sold a % of my large inventory of bullion that I acquired for under $7.00 at the peak as well.
Then again afterall: I did acquire over 1.75+ million shares at less than .05 of USSIF years ago before people like yourself knew about Galena and sold at the top before it RS-therefore gaming it before Sprott cleaned the house out...and I've never come back to acquire for the mine and I highly doubt the mine will reach it's full potential with current management. Then again what would you know about people like Tom Parker?
By the way has the share price ever risen to over $1.00+ since the RS? I think we know the answer to that one...wise ass.
No. I wouldn't believe for a second. Actually I wouldn't believe much from anyone making that statement.
Would you believe the person who says that silver is heading to $7.5 and recommends buying/holding Hecla at current prices? When/if silver hits $7.5 HL price will be below $1. Both will never happen. IMO.
Silver is still overpriced should be at $7.50 an oz...
U.S. Govt to PLUNDER Citizens during COLLAPSE | BrotherJohnF (VIDEO)
Lots of Silver Info Here!!!
Gold Daily and Silver Weekly Charts - Hi Ho Silver!
So this multiday move higher has been rewarding, and I
thank God for it.
I do not touch my long term positions and
try not to even think about them.
http://jessescrossroadscafe.blogspot.ca/2014/06/gold-daily-and-silver-weekly-charts-hi.html
Drumlummon Gold & Silver Mine timeline -
1876 —
Irish miner Tommy Cruse discovers gold near Marysville and starts
tunneling into the hillside.
He names the mine Drumlummon after a parish in his homeland.
1883 —
Cruse sells the mine to the fabled Rothschild family
for $1 million cash and $500,000 in shares.
The mine employs 165 men and is 1,600 feet deep.
1892 —
A fire breaks out at the 1,200-foot level.
They flood it with 5,000 gallons of water to put it out.
1895 —
Water starts to be pumped out of the mine so they can drill deeper.
1896 —
A cyanide processing plant is built.
1910 —
The Drumlummon is shut down after the operators lose a 20-year
lawsuit that included five appeals to
the U.S. and Montana supreme courts.
1911 —
St. Louis Mining and Milling Company, the successful litigant,
takes control of the mine and leases out the operations.
http://helenair.com/news/local/drumlummon-mine-timeline/article_cb40fdea-ae37-11e2-b0a0-0019bb2963f4.html
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=86265644
http://www.us-silver.com/Operations/Drumlummon/default.aspx
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=86265644
http://www.clivemaund.com/article.php?art_id=68
U.S. Silver & Gold Inc - Latest Presentation -
http://www.us-silver.com/Investors/Presentations/default.aspx
http://www.us-silver.com/News-and-Events/News-Releases/News-Release-Details/2014/US-Silver--Gold-announces-results-of-shareholder-meeting/default.aspx
http://www.us-silver.com/
God Bless
Drumlummon Gold & Silver Mine timeline -
1876 —
Irish miner Tommy Cruse discovers gold near Marysville and starts
tunneling into the hillside.
He names the mine Drumlummon after a parish in his homeland.
1883 —
Cruse sells the mine to the fabled Rothschild family
for $1 million cash and $500,000 in shares.
The mine employs 165 men and is 1,600 feet deep.
1892 —
A fire breaks out at the 1,200-foot level.
They flood it with 5,000 gallons of water to put it out.
1895 —
Water starts to be pumped out of the mine so they can drill deeper.
1896 —
A cyanide processing plant is built.
1910 —
The Drumlummon is shut down after the operators lose a 20-year
lawsuit that included five appeals to
the U.S. and Montana supreme courts.
1911 —
St. Louis Mining and Milling Company, the successful litigant,
takes control of the mine and leases out the operations.
http://helenair.com/news/local/drumlummon-mine-timeline/article_cb40fdea-ae37-11e2-b0a0-0019bb2963f4.html
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=86265644
http://www.us-silver.com/Operations/Drumlummon/default.aspx
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=86265644
God Bless
Silver Market Update - Clive Maund:
June 8, 2014
http://www.clivemaund.com/article.php?art_id=67
Gold Market Update - Clive Maund:
June 8, 2014
http://www.clivemaund.com/article.php?art_id=68
U.S. Silver & Gold Inc - Latest Presentation -
http://www.us-silver.com/Investors/Presentations/default.aspx
http://www.us-silver.com/News-and-Events/News-Releases/News-Release-Details/2014/US-Silver--Gold-announces-results-of-shareholder-meeting/default.aspx
http://www.us-silver.com/
God Bless
that just might not happen... hmmmm
Maybe one more pull back to lower .30s then get some IMHO.
U.S. Silver & Gold I (USGIF)
0.3818 ? 0.0 (0.00%)
Volume: 669 @ 10:31:55 AM ET
Bid Ask Day's Range
0.374 0.407 0.38 - 0.389
USGIF Detailed Quote Wiki
http://www.us-silver.com/News-and-Events/News-Releases/News-Release-Details/2014/US-Silver--Gold-announces-results-of-shareholder-meeting/default.aspx
http://www.us-silver.com/
God Bless
The "extreme irony " , in all of this is that much of the material presented is known,in bits and pieces , by many long term shareholders yet,; They continue to support Directors .
We as a retail unit , cannot seem to vote correctly so,.... somehow in one of those very unfair realities ,Directors and Management are given license to kill or license to resurrect ,whatever they fancy and there is not one single thing I as a shareholder can do ,...except sell or hold for a possibility of a larger miner becoming interested enough in Galena to actually pay a premium for the company ,which of course would be a lot more realistic if we had NO Directors ,If we were "in play" For sale to the highest bidder. I think we could rustle up a dollar a share ,no problem but with the baggage ,we likely get a wait and see attitude.
Other silver mines are selling for extreme discounts in the mid west USA . A smaller silver mine in Colorado has sold for about 65 million. It can produce at less than Galena but has far less resources (at least what is known) I believe Galena could be sold today for a dollar or about 90 million by the time every party is completely out. I would be satisfied ,just to get that much ,considering we are at 40 cents.
While the miners are negotiating for scraps management is eating filet mignon and drinking fine wine.... Further, if you look at the compensation chart in this document (page 33) you will see that the pay cut management took last year is really interesting! Notice that their cash based salaries all doubled, tripled, and even quadrupled.... and that their option based incentives were reduced..... No sense in taking huge amounts of options when you can get cold hard cash in your pocket right now. Then we can tell everyone we took a pay cut....If I was a miner at USA I would be so PIZZED OFF......
http://www.us-silver.com/files/2014mic.pdf
2013 Total Compensation
Darren Blasutti $595,501
Warren Varga $392,210
Robert Taylor Chief $616,803
Daren Dell $330,929
Peter McRae $335,492
Sad state of affairs at USA.....
http://www.glassdoor.ca/Reviews/Employee-Review-U-S-Silver-and-Gold-RVW3052117.htm
“Worst employer in the Silver valley, very unethical business and labor practices”
Anonymous Employee (Former Employee)
Wallace, ID (US)
I worked at U.S. Silver & Gold full-time for more than a year
Pros – - U.S. Silver & Gold tends to change every year or so, in several ways. The approach to mining will change frequently ("small mine" or "large mine" method, different work schedules, mechanized or conventional), which at times is somewhat of positive since it allows miners a chance to get trained in multiple types of mining.
- The pay and benefits aren't too bad for most positions, but management is very aware that the majority of workers are locals that are willing to accept lower pay in order to stay close to home. Motivated miners can really rake in the money, if they can pull a round every day.
- The safety department takes their job seriously and they do very well to ensure employees are working safely.
Cons – - Management, and their vision changes more frequently than you would change your socks. Most of the management (both locally at the mine and in Toronto) are misfits from other companies that were released from Barrick, Teck Cominco, ASARCO, Coeur, and so on.
- The history of the company is one employees cannot take any faith in. RX Gold, a failing gold company whose only property is now closed, a company that basically lied about to stock holders and workers at U.S. Silver before the merger, glommed onto U.S. Silver & Gold as as survival tactic. The RX Gold management displaced many of the existing U.S. Silver management. The new management from RX Gold included a slew of absolutely unnecessary Vice Presidents, consultants, and Board Members - all of whom are given salaries beyond the range of what is provided at companies ten times the size of U.S. Silver. The company is over-managed by a detached enclave ruling from 1,800 miles away, in another country that visits once every few months or so. That management makes broad, sweeping decisions based only on overly optimistic, unrealistic info fed to them by local managers.
- The entire mine is run by engineers that exclusively use spreadsheets to forecast the performance of the mine. They never take into account the natural ebb or flow of the mining cycle and inherent workflow bottlenecks, such as infrastructure and upkeep of the mine, limitations of shaft speed and availability, and unexpected events. The myopic, self-congratulatory, detached, good-ol'-boys-club management consistently over-forecasts (to ensure they get higher bonuses). Shortfalls are very common, and management is left scratching their head EVERY quarter as to what went wrong. Then they expect workers to compensate for their unrealistic, poorly calibrated spreadsheets.
- Part of the catch-up that management expects is "Paid holidays" are almost always exchanged with an extra MANDATORY Saturday or Sunday worth of work, both for hourly and salary employees (and salary employees don't get extra pay for that day).
- Silver price varies quite a bit over the long term, and employment is NEVER guaranteed for very long there. Likewise, don't let them sell you on the silver escalator or profit sharing - those come and go with the price of silver. They stripped profit sharing from the supervisors at the start of 2013 to save themselves a few bucks as well - something they had been receiving for years up to that point.
- The corporate culture changes just as rapidly as silver price, and the employees are expected to to change their lifestyle too - except management of course. Schedules change, mining methods change, crews change - there's very little consistency, especially for entry level laborers in the mine and tech staff.
- Likewise, corporate culture has changed from a friendly-seeming, family oriented, "local" business, to a Toronto puppet that cares little at all for its workers - where workers are never told what is going on, they are blindsided with MASSIVE layoffs (129 in the last go). What's worse is the management is PROUD of how good they are at keeping information from their workers. I've never seen a publicly held company that enjoys the cloak-and-dagger management style so much. In 2013 the company culture is one of fear, paranoia, and rumors. No one ever knows who is next to be laid off; so many employees are busy jockeying for favor with the king-makers in order to make sure they have a job after the next massive round of layoffs. Management will lie with a smile to every single worker one day, then strip many of them of their job the next day.
- The company will absolutely NOT hesitate to put their hand in your pocket. They keep adjusting the miner contract system to save themselves a few bucks, at the expense of the laborers' pay. For a while they had hired a guy whose job it was to oversee contracts, and it seemed like his job was quite literally to short miners' pay. Every pay period, there would be FURIOUS miners in his office, and in the Superintendent's office. The company will do what they can to score free cash from their salary employees, when and where possible. They stripped supervisors of profit sharing one quarter and never returned it, they charge you for many things that you need to work with (and don't tell you it comes out of your pay). U.S. Silver & Gold is absolutely ruthless about how they treat their employees, especially when the company is hurting for cash.
Advice to Senior Management – - Please just get rid of the majority of the board and the Vice Presidents. I know that they are fund-raisers to excite the stockholders, but the board and the VPs are grossly overpaid for how small the Galena mine is and how poorly the mine (and the company as a whole) has performed. The company simply doesn't need them.
- Stop screwing with the contract system. I know that miners "will always complain about their pay", but you're not helping things by trying to screw the laborers out of their earned wages. Your goal of trying to save the corporation a few bucks (at the expense of the laborers and staff) is obvious and unappreciated. Stop pretending like you changed the contract system to "reward good miners"; you did it to save money and everyone knows it.
- The corporate culture of lies, paranoia, and fear has simply got to stop. Just because management doesn't have their feet on the ground well enough to feel what is going on or to hear what is being said doesn't doesn't mean that it's not happening. Plugging your ears and ignoring reality doesn't make it go away. The rate of attrition is as high because the company is bleeding to death, and also because management has been dishonest, and they pride themselves in keeping secrets.
No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company
No, as much as I would have loved a change I didn't think there would be any. I am just completely shocked that deals like the RXE\USA mergers are legal. I have also completely lost respect for Eric Sprott. When you add up the insider wages, bad financings, ongoing costs to maintain a dead mine, the fairness opinion, the dilution, the probable strike, and the millions of options management has received and continues to receive on a regular basis, it leaves a very bad taste in one's mouth.
I have really learned a lot here. Unfortunately they were very bad lessons.
I'm afraid it did no good at all. Not really sure what to make of this company. If silver goes up ,USA will go up . Other than that ,I can only hope for a merger,even a mediocre one.
Some bigger producer must be interested in Galena ,if the spot silver price sentiment is for 30 plus over the next 12-18 months. Of course the longer it takes to be acquired ,the less our value is . Hard to believe we were at 30 million cash,no debt and about 62Million shares fully diluted ,just about 2.5 years ago. they were starting a search for a new CEO. A relatively simple task ,which has resulted in the company before us all today.
The Beginning Of The End Of Precious Metals Manipulation:
The London Silver Fix Is Officially Dead
http://12160.info/page/2649739:Page:1467981
14 May 2014, Following a crackdown on precious metal manipulation
by various European regulators (mostly Germany's BaFin, recall
"Precious Metals Manipulation Worse Than Libor Scandal,
German Regulator Says"), which led to the shocking outcome that
Deutsche Bank would pull out of the London gold and silver fixing
committees, the London Silver Market Fixing company ended up with
a most curious outcome:
it would have just two members:
HSBC and Bank of Nova Scotia. And, as an even more shocking
result, overnight the London Silver Fix announced that after
August 14, 2014 it will no longer exist -
the first of many victories for all those who have fought for
fair and unmanipulated precious metal markets.
From the press release:
The London Silver Market Fixing Limited
(the 'Company') announces that it will cease to administer
the London Silver Fixing with effect from close of business on
14 August 2014.
(Zero Hedge)
http://www.zerohedge.com/news/2014-05-14/beginning-end-precious-metals-manipulation-london-silver-fix-officially-dead
U.S. Silver & Gold Inc - Latest Presentation -
http://www.us-silver.com/Investors/Presentations/default.aspx
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=101572087
http://www.us-silver.com/Home/default.aspx
God Bless
U.S. Silver & Gold Inc - Latest Presentation -
http://www.us-silver.com/Investors/Presentations/default.aspx
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=101572087
http://www.us-silver.com/Home/default.aspx
God Bless
Gold and Silver Bull Run Ducks are Lining Up -
Very good advice to WITHHOLD on all directors.
$USGIF Intra day $18.70 should be the low 2014 I agree with Peter...:-] ...
captainscotty welcome to U.S. Silver & Gold Inc. (USGIF)
good to see you @ USGIF -
thanks for good info -
#26 following mark to you -
$USGIF Just listen to Peter Schiff :Gold : Silver ratio at 64 ..:-}
all Rothschilds 666 nwo news media to dum-dum down the People - explained by Peter Schiff -
http://www.youtube.com/watch?v=uasOudcjEqgM&list=UUIjuLiLHdFxYtFmWlbTGQRQ
Peter Schiff Calls Bottom In Gold Silver 05 30 13.3gp
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http://www.us-silver.com/i/pdf/BullBear-Mar2011.pdf
Profitable Production from the Worlds Most Prolific Silver Belt
http://www.us-silver.com/i/pdf/factsheet/ussilver-factsheet.pdf
US Silver Corp -
(OTC) (USOTC:USSIF) (TSX.V, symbol USA) owns and operates the
Galena Mine in the historic Silver Valley of North Idaho.
The Galena Mine and Mill, along with the Coeur Mine and Mill
and the Caladay Project were acquired from Coeur d'Alene
Mines Corp (NYSE-CDE) on June 1, 2006.
A total of 11,000 acres of patented and unpatented mining
claims, along with surface facilities and equipment were
acquired for $15 million.
The Galena Mine lies in the heart of the Coeur d'Alene Mining
District, the most prolific silver district in United States
history with over 1.2 billion ounces of silver production.
Throughout the long history of the Company's properties, the
mines have produced some 9.9 million tons of ore containing
over 200 million ounces of silver, 160 million pounds of
copper, and 22 million pounds of lead at an average grade
of 21.2 ounces per ton of silver, 0.8% copper and 8.8% lead.
The Galena Silver Mine ranks as the second largest primary Silver
mine in US history and has produced Silver since 1884 -
www.us-silver.com/s/Projects.asp
www.us-silver.com/s/PhotoGallery.asp
www.us-silver.com/i/pdf/factsheet/ussilver-factsheet.pdf
U.S. Silver Corp is the second largest primary silver producer in the United States operating from the Silver Valley in northern Idaho with annual silver production of approximately 2.4 million ounces. A dominant regional land package of 14,000 acres of under-explored property provides U.S. Silver tremendous future potential reserve growth in the most prolific silver district in the United States.
Elliott Wave System TA Identifying Trends Contain 5-Wave Pattern -
- Silver Chart TI Alert 3rd Wave Strong Start The Best To Come
- Ag in 3rd Wave bull start # 4 - 5 Wave Bulls still to GO
www.ivarkreuger.com/metalcharts.htm
Rothschilds World Part 1 "Glen, Rush, Michael...Here's to you boy's"
http://www.youtube.com/watch?v=yhKHwrUA5SM&feature=related
www.us-silver.com/s/StockInfo.asp
http://canadianinsider.com/coReport/allTransactions.php?ticker=USA
http://www.investmentpitch.com/media/552/U.S._Silver_Corp._-_TSX.V__USA/
http://www.us-silver.com/i/pdf/CP_Jan2010.pdf
Silver Mining Town of Wallace "Silver Capital of the World" -
The historic mining town of Wallace
(population 960) is nestled beneath Interstate 90,
halfway between two ski and recreation areas in
northern Idaho's beautiful Silver Valley.
The town has long been famous as the "Silver Capital of the World"
with 1.2 billion ounces of silver produced
in Shoshone county since 1884.
http://wallace-id.com/
Nice to ride with the USSIF winner of the Silver producers
http://www.walkaboutventures.com/
Communism's True Believers Won't Give Up -
http://www.henrymakow.com/communisms_useful_idiots_wont.html
Silver Price year 1477 Market Value $806 per ounce -
(1998 fiat dollar market value)
Add inflation to Silver Market Value $806/oz since year 1477 -
US$dollar 1913 Market Value = about $0.03 since Fed's 1913 poncy schemes -
USSIF/USA's shareholder we should all be encouraging the company
to look at buying shares back and all the way up -
while the silver Ag price is below $100 per ounce -
and the USA/USSIF share are undervalued and oversold -
its a great opportunity of USSIF below -
a fiat$/sh to start the buy back -
Gov. Debt - MOAB - Mother Of All Fiat Bubbles -
http://monetaadvisors.com/?p=67
Gold has replaced every fiat currency for the past 3000 years -
http://www.kwaves.com/fiat.htm
http://www.canadiancontent.net/commtr/fiat-currency-fall-dollar_958.html
"U. S. Silver
generates 6% of U.S. silver production from its
Galena Mine and Mill.
The company's holdings are a combination of fee land,
patented mining claims, unpatented mining claims and mining leases.
As of 2010, it is profitable, carries no debt and produces silver
at an average cost of $11.50/oz.
With completion of rehab efforts/opening of the Galena shaft,
the company can now move ore from two shafts.
Two distinct ore combinations are present-a lead/silver ore and
a silver/copper ore. . .With both shafts now operating,
the company expects to produce 3.3 Moz. Ag (not silver-equivalent)
in 2011.
Current production is running at about 2.7 Moz. annualized."
David Morgan, Morgan Report (07/06/10)
Gold Spot - Au & Ag The Only Real Money -
The super red banksters cults -
Rothschilds World Part 1 "Glen, Rush, Michael...Here's to you boy's"
http://www.youtube.com/watch?v=yhKHwrUA5SM&feature=related
http://maxkeiser.com/
Eric Sprott and Andrew Morris: Follow the money into silver
http://www.sprott.com/Docs/MarketsataGlance/2011/0311%20Follow%20the%20M...
USSIF chart TA alert Ag-bull move LT firm higher
USSIF Ag-Global USA Richest Silver Mine
USSIF/USA's agenda priority should be to establish the
control of at least 51% of the outst. shares -
USSIF/USA's shareholder we should all be encouraging the company
to look at buying shares back and all the way up -
while the silver Ag price is below $100 per ounce -
and the USA/USSIF shares are undervalued and oversold -
its a great opportunity of USSIF below -
a fiat$/sh to start the buy back -
USSIF/USA has a long hike back UP to a more fair share price -
The Day The Fiat Dollar Die -
- a person / or a nation / be bankrupt -
- about the same for all, will be said -
http://inflation.us/videos.html
it has happen to all fiats before -
e.g. -
not to long ago to USSR, Zimbawe, Argentina,
Germany etc. btw. -
Gold & Silver have replaced every fiat currency
for the past 3000 years -
http://www.kwaves.com/fiat.htm
The NWO banksters cults owned by...
http://www.reformation.org/adolf-hitler.htmlKHAZAR EMPIRE,ILLUMINATI & THE NEW WORLD ORDER part 1 -
Masons -
http://www.youtube.com/watch?v=ZSlJOsVGTtI&feature=BF&list=PLF6B986D4B11DDA56&index=1
http://www.youtube.com/watch?v=AMFA9bDii8Q&feature=BF&list=PLF6B986D4B11DDA56&index=2
http://www.silver-investor.com/
http://lebed.biz/endofliberty.html
"We have gold and silver because we cannot trust Governments."
President Herbert Hoover
http://www.888c.com
God Bless
Welcome to U.S. Silver Corporation discussion board -
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