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Nice. 225K fully loaded. May add more if I can get free up some more funds
Now that would be the ultimate buying / adding opportunity. I'll be sure to free up some more powder just in case..
What happened the last time rabid anti-gold propaganda reached the headlines? I'm not talking about obscure articles that not many read, instead I'm talking the HEADLINES that are reserved for urgent propaganda that will be read by the widest audience. Well, gold has finally reached that point where the corrupt oligarchy feels the NEED to bash gold as loudly as possible. To quote Shakespeare, methinks they doth protest too much. Why?
Well, lets take a look a look at what Time Magazine screamed in August 1976 (when everyone used to read Time)
The Great Gold Bust
'To hoarders and speculators, gold lately has had about as much luster as a rusty tin can. In the 19 months since gold purchases became legal for U.S. citizens, the price has fallen more than 40% from its peak of $198 an ounce. In three chaotic days of trading last week, gold fell $14 on the London market, reaching a 31-month low of $105.50 an ounce. Though the price recovered to $111 by week's end, that is still a dismal figure for goldbugs, who not long ago were forecasting prices of $300 or more'.
Gold had fallen from around $200 in 1974 to $105 in summer 1976. And this article was the straw that broke the camel's back for many - they threw the towel in. That turned out to be a tragic mistake, because no sooner had the article been published than gold began a new upleg. Over the next 4 years, gold rocketed up some 800%.
Those who forget their history are destined to repeat its mistakes. Its 1976 all over again
You know they are getting desperate when anti-gold mainstream headlines start to appear, as they have been the past couple of weeks. As a contrarian, it just makes me even more bullish :)
What would you rather own though, a Canadian miner @ $1000 AISC, or Banro @ around $500 AISC in an increasingly stable country - with the reassurancing presence of a couple of heavily invested majors? I don't see how any of these high cost miners are going to survive without huge dilution etc.
Given last week's truly gargantuan short sellng on Comex, one can only guess that its even higher this week. When this unwinds into short covering, we are going to see something special imho.
Nice. Seriously how many have you got now?!
This is a classic tree shake my friend. You will see what I mean soon. As for the sinking ship - 80 million funding and second mine entering commercial production does not a sinking ship make :)
No thats the first time I have used that word :)
Yes. I got in last fall and saw my investment go from around this level to 0.12, up to 0.40, and back to here. Not once during that time did I consider selling. No different today, as I am here for the long run.
Capitulation
Lol. You got shook out.
Sold large share of other holdings yesterday. Will be backing up truck again if this sinks under 0.20.
Pride comes before a fall....
The price of gold is clearly being manipulated at will at the moment. In the absence of a full and frank admission of guilt, all the evidence points to the Federal Reserve breaking the law to mask the true weakness of the dollar. We see a pattern of behavior from those who run the Fed. The behavior of the blood sucking parasite. Resentment grows.
Not a 'moneychanger' by any chance are you?
Dollar peaked in March imo. We shall see
Agree. I also think Dow has peaked too. And if gold has not bottomed, its very close. On a side note, everyone thinks these clowns have solved the Greek problem - when in fact they have simply sown division in Europe. Germany is still pushing for Grexit, and rightly so. Canada and Australia are already in recession. Its coming. The fantasy economy was only ever going to last so long before reality kicked in. Ideal conditions for gold.
Ain't that the truth..
We've got rid of a lot of weak hands today ..
Hey Ray.....you never got me down Ray.
Yeah I know. Its tough sometimes. The way I look at it, the only thing that matters to me is where we are by say end of 2016. What happens in the meantime is largely irrelevant as there are many ways to climb a mountain...
Final flushing out of weak hands and off we go :)
Nice.
Got some dry powder ready for some bargains today :)
Really. Where is this new leg down? I don't see it.
Everyone knows they are lying. They have got a LOT more than that - thats a fact :) http://kingworldnews.com/andrew-maguire-egon-von-greyerz-and-stephen-leeb-say-chinas-release-of-its-official-gold-holdings-is-bullsht/
Agree. BAA is clearly runnng out of weak hands.
You forgot UWTI :)) Down 50% since he was pumping it in May...
Well actually not so outrageous. Under those conditions and a P/E of around 60 (not impossible when gold stocks are the flavour of the month). But don't yet me wrong, it highly unlikely of course. Lets see where we are in 4 years time.
No probs. Him and Andrew Maguire are in a league of their own
We shall see about that...
Hi Trunk. Yes I agree about gold. Quality miners are the way to go imho, as they are so highly leveraged. Don't get me wrong, if money was no issue, I would also buy bullion. I happen to believe Banro is the best of the junior miners, and certainly the most undervalued. You're right about silver too, crazy cheap. Not sure about 10 to 20 times, but certainly much higher for sure.
To answer your question, yes, I most certainly do believe we shall be seeing significantly higher gold. You can keep your Armstrong economics - wasn't he the guy who was jailed for fraud? I'll stick with Adam Hamilton, who also happened to call the beginning of gold's latest bull 15 years ago. http://www.zealllc.com/2015/recgssht.htm
At $4500 margin profit per oz and 4 mines in full production, theoretically it is possible. Although even that would be a very generous valuation!
I'm glad you took my advice :)
My friend, you are going to be surprised at whats about to happen to gold. Pleasantly surprised. Mark this post.
Lol. I am going to enjoy coming back to this post. As for UWTI, its dropped 50% since I told you it was a bull trap a couple of months ago. Ouch!
I have never been more bullish on gold than right now. Ever. This is going to spectacular ...
Patience...