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sorry, here is the link so u can read it all
http://www.hardassetsinvestor.com/features-and-interviews/2006-andrew-schectman-gold-driven-by-manipulation-supply-shortages.html?start=1
Andrew Schectman: Gold Driven By Manipulation, Supply Shortages
Written by Lara Crigger
February 19, 2010 11:11 AM EST
Page 1 of 4
Although gold's still well off its December 2009 highs, the price has strengthened in recent weeks; on Thursday, it hit $1,118.40/oz. Not half bad for a metal whose bubble has supposedly popped. But gold still has much further to go, says Andrew Schectman, co-founder of precious metals dealer Miles Franklin.
Schectman and his father founded Miles Franklin in 1990, which has since grown into a highly respected precious metals firm offering everything from bullion to numismatics. Schectman also publishes a weekly newsletter, and travels around the U.S. speaking about the role of precious metals in one's portfolio and the trouble with paper currencies.
Recently, HAI Associate Editor Lara Crigger spoke with Schectman about the current gold market, including an impending metals shortage, the role manipulation plays in the market and why the best days are still ahead for gold investors.
Lara Crigger, associate editor, HardAsetsInvestor.com (Crigger): In one of Miles Franklin's recent newsletters, you described gold and silver as "stealth" bull markets. With all the attention this sector has garnered lately, is this still true?
Andrew Schectman, co-founder, Miles Franklin (Schectman): Well, most people in the country, they still don't have a clue. We're so up to the moment with information, via the Internet, e-mail, BlackBerries, CNBC on every street corner—everywhere you turn, there's more information. Yet most people don't have a clue that gold has outperformed every major asset class for a decade straight. In 2002, gold was $250 an ounce, and silver was $4.25/oz. So you're looking at a gain somewhere in the neighborhood of 500 percent.
When you think about how rapidly information disseminates to the public, it's absolutely embarrassing that the financial advisers of the world—and the people who work so hard to obtain their money—don't realize that, indeed, this has been a bull market that has trumped all others for the past decade.
Crigger: What's the biggest change you've noticed in the bullion industry over the past few years?
Schectman: The one thing that's very different is that there's a complete and total absence of a secondary market. What I mean by that is that all you can buy nowadays is brand-new product. The only people who are selling anything are the people who are selling grandma's candlesticks and bracelets to Cash 4 Gold to make ends meet.
But look and see what's going on in this industry—like mints shutting down, as they've been doing for the past 2 1/2 years. For example, take silver eagles out of the U.S. Mint. There's nothing to be had. We work with one of the largest mint distributors in the world, and when we tried to place an order earlier today [Feb. 18, 2010] for silver eagles, they wouldn't even take it. The U.S. Mint is completely and totally out of silver eagles right now, and they're running things on a rationing basis.
Crigger: So do you foresee a supply shortage in the near future?
Schectman: A major supply shortage. I think that's the key to this industry. In 2008, the U.S. Mint shut down several times. The Canadian Mint was running 12-16 weeks back-ordered. The Austrian Mint was working 24 hours a day, three 8-hour shifts just to meet demand, and they were also 12-16 weeks back-ordered. It was not uncommon back in 2008 for me to say to a client, "Listen, I'll lock in your order, but you're not going to get any product for at least two, maybe three months."
The availability of product to me is the key to understanding the importance of buying gold and silver now, irrespective of what the price is doing, because since October 2007, the U.S. Mint has been the model of inefficiency. Show me another business that turns away immeasurable amount of sales, based on the fact that it's too difficult to get the product. They really have created a situation where everything else is becoming more and more expensive.
I think by the time people realize what's going on, it's my opinion that it will not be a hugely escalated price that will be the hindrance to them getting into the market, although that might attract their attention. But the main hindrance will be the lack of availability of refined product.
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hmmmm, what say I. Geez, now you are putting me on the spot where I may look like a pumper, so I will comment in a realistic sense.John is putting all the pieces together properly, acquiring properties with value and aligning himself with key people and firms. If the price of gold goes bonkers as many of us believe, I think down the road USAU has a good chance of getting bought out,jmho
Seniors Eyeing Shining Gold Juniors
Thu, Feb 18, 2010
Feature Articles, Gold Articles
By Kishori Krishnan Exclusive To Gold Investing NewsThe yellow metal is set to shine
There are two ways to play the gold game. Either keep a watchful eye on the biggies and check out their every move, or latch on to some tried and tested junior gold miners, many of who are set to have their day in the sun.
Back in the early stages of the gold bull market, junior mining stocks were all the rage. During 2002-2006, many junior miners were putting in annual gains of 200 per cent to 300 per cent. Remember the case of junior miner Seabridge Gold (SA), which produced 3-year returns in excess of 1500 per cent?
Of course, with credit markets contracting late 2008, some junior miners looked like they were going out of business. Several investors were caught off-guard by the suddeness and the severity of the decline in the junior mining sector.
Many swore never to go back again. But hold on here - by the end of last year, gold miners played catch up.
And 2009 turned out to be a great year for emerging junior plays and stocks in the Gold Stock Strategist Emerging Junior Gold Producers (GSSX) Index. The GSSX Index outperformed the GLD by powering ahead 123 per cent, beating the XAU gain of 36 per cent, the HUI gain of 30 per cent, and the TSX Venture Exchange of 92 per cent.
Just to put things in perspective - the XAU is a capitalization weighted index with 16 large cap precious metals mining companies traded on the Philadelphia exchange.
The HUI-AMEX Gold Bugs is a modified equal dollar weighted index consisting of 15 major gold mining companies.
And the TSX Venture Exchange index represents around 2,300 companies.
The fact of the matter is juniors are poised for a historic bull run. There are high quality juniors who are set to come out as winners.
Check out this link to understand the junior sector better. It has been updated at the end of December 2009.
But first, let us understand what the seniors are upto.
Senior play
Canada’s third-largest gold producer, Kinross Gold Corp has reported an increase in production by 22 per cent. Revenue was up by 49 per cent.
The company which has earned 21 cents a share in the fourth quarter has cut a deal to sell 25 per cent of the Cerro Casale deposit to Barrick Gold Corp for upwards of $475 million, including $455 million in cash and the assumption of a $20 million US obligation.
As a result of the transaction, Barrick’s share of Cerro Casale has risen to 75 per cent.
Kinross has also reversed a year-earlier net loss of US$ 468 million.
On its part, the world’s largest producer of the metal, Barrick Gold Corp gained 2.2 per cent on the stock exchange early Thursday, after announcing it would spin off its African operations.
Kinross Gold advanced 2.7 per cent after its fourth-quarter profit surpassed the average analyst estimate by 36 per cent.
Barrick, Kinross and Agnico-Eagle Mines each reported fourth-quarter earnings that topped the average analyst estimate by at least 6.6 per cent, a Reuters report said.
Barrick also said it would spin off its operations in Tanzania into a new company.
And despite opposition, the firm has also decided to go ahead with its Pakistan copper, gold mine, even as Chile has given the thumbs up to Barrick to up gold mining.
Shrugging off another legal dispute is New Gold Inc, which has not been dissuaded from carving out 70 per cent of El Morro despite stiff opposition.
On Tuesday, the Vancouver-based miner said it had closed a transaction to buy 70 per cent of the copper-gold deposit in Chile, from Xstrata PLC for US$ 463-million.
It then transferred that stake to Goldcorp Inc, which plans to team up with New Gold to develop the project. New Gold still owns 30 per cent of it.
Not limited
Clearly, there is a lot of action here, but it not just limited to a play between seniors. Many of them are eyeing juniors with proven resources in their bid to grow.
Typically, juniors ripe for the picking own a chunk of land with a proven resource of gold or silver that has been explored and drilled, but lack the cash flow and expertise to build and operate a mine.
Often, the ideal time for juniors to cash out is once a discovery is made. After all, they’ve done what they do best: explore. Then the seniors and intermediates dig in and develop and operate the mine.
According to Mining Deals 2007 Annual Review, in a report released by PricewaterhouseCoopers, a record 1,700 deals worth almost US$ 160 billion were conducted worldwide.
With the downturn on its last legs, the strong level of activity is expected to continue this year. David Christie, director of gold and precious metals at Scotia Capital, has reportedly said that few mergers between seniors would take place. He believes that the fight will be for the best juniors.
And if the trend continues or accelerates as investors warm back up to juniors, we could see yet another golden time for junior mining companies.
you got it right cbone, cause my post was at 12.52 am, very quiet this morning
thanks, i try, have a good.......morning I guess
JIM SINCLAIR ON 3.4% RISE IN DISCOUNT RATE
The final Pillar in the gold bull market is a bear market in US Treasuries.
The increase in the discount rate to 0.75% is driven by market realities and a desire to be able to sell US Treasuries as foreign demand falls off.
The bull market in gold moved from $400 to $887.50 in the 1970s as interest rates rose from 3% to 14 7.8% on Ten Year money.
Once again the knee jerk reaction is to sell gold and buy the dollar. Be assured this must happen.
Because the final Pillar is falling while Gold is over $1000, you can look at Armstrong's $5000 prediction as a realistic possibility.
Stay the course.
Respectfully,
Jim
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nobody is happy when their investment is down, any amount, i only look at it as an opportunity to average down if circumstances warrant, which it often does not
nope, no joke, I did speak to him. So what should I say so I dont get "mashed", lol. Well, how about that I am very comfortable where USAU, re executing their plan and am comfortable with John at the helm, and am comfortable that the stock price will reflect his endeavors. I think I shouldnt get killed with that post
Well, I spoke to John at length today, and guess what
I SPOKE TO JOHN AT LENGTH TODAY
wow, so quiet here, calm before a storm, lets hope. Just a side note, mucho talko re uranium on the airways and the net, could only bode well for USAU as I believe the u308 properties are still intact for the company
gold looking much better today, hoping the trend continues
Gold Set To Singe: Wolf At Our Door
Sun, Feb 14, 2010
Feature Articles, Gold Articles
By Kishori Krishnan Exclusive To Gold Investing News
The Emperor is naked. The debt of the US government is turning out to be in fact irredeemable. And gold is poised to break out. Remember, gold outperforms in a crisis.
The inconspicuous beginnings of irredeemable debt have blossomed into a colossal edifice in the United States, a fantastic debt tower that is soon set to keel over. And to top it all President Barack Obama on Saturday further raised the debt ceiling.
Congratulating Congress for restoring a requirement that the federal government spend only what it can afford - a day after authorizing $1.9 trillion more federal debt, the President signed on the dotted line. And set the tone.
That one step has raised the government’s debt ceiling from $12.4 trillion to $14.3 trillion.
Remember just one point - As long as the US monetary and fiscal policies remain debt-based, all the signs herald that gold’s bull run is just around the corner.
The US debt crisis has also posed the question of how long the world’s leading power can remain its largest borrower.
Carmen Reinhart, an economics professor at the University of Maryland and a former IMF official, has been quoted by AP as saying that the nation’s fast-growing indebtedness may not have a visible impact at this point on ordinary Americans. But some day it will.
“Markets can turn very quickly. And a high debt level makes us very vulnerable to shifts in sentiment that we cannot predict.”
It is clearly a crisis of confidence. When investors find that their faith in paper currency is shaken, the value of that currency erodes. Additional sovereign-debt downgrades from ratings agencies are but one potential trigger of a currency crisis. Look at what happened when the EU pledged to aid Greece.
At such time and under similar conditions, gold soars, as investors seek to protect their purchasing power.
Debt tower
Back in the US, a spokesman for House Republican Leader John Boehner of Ohio has criticised Obama for the move.
“Why did President Obama choose to sign the largest increase in the debt limit in history behind closed doors?” said Michael Steel, the spokesman. “Perhaps because he just proposed a budget with deficits that his own administration officials define as ‘unsustainable’.”
The deficit is projected to hit a record $1.6 trillion this year, or 10.6 per cent of the economy.
The debt limit bill also enacts into law pay-as-you-go budgeting rules, intended to make it harder for lawmakers to add to the deficit.
Obama wants to reduce, what he on February 1 called “a decade of profligacy”. But by signing on the dotted line, he has projected the government would run $8.5 trillion in deficits over the next 10 years.
And what does this mean for gold? A clear bull run.
Many analysts insist that gold’s rise above $1,000 an ounce was due to investor concern over the debasing of the US dollar. However, the very same policy prescription that caused the meltdown over a year ago is being used once again to refloat the economy.
Also, remember the downgrades in December last year, to government debt for Greece, Spain, and Portugal. All of them signalled upcoming debt related earthquakes.
Get ready for the aftershocks now.
Irredeemable debt has been with mankind for many years. Before August 14, 1971, debts were obligations, and the word `bond’ was just that: the opposite of freedom. The privilege of issuing debt had a countervailing responsibility: that of repayment.
Do you see any of that happening over the next couple of years?
Ron Holland in his piece, has even suggested secession as a solution to what he terms the Washington Debt Threat.
“Breaking free of the false chains that threaten our economic future from the likely Washington debt/dollar collapse might be our la
st chance to safeguard our financial security and liberty from the hyperinflation and crushing new tax increases to be forced on this and future generations from the bailouts and national debt,” he wrote.
All the new debt being created represents an equal amount of new dollars being created and going into the financial system. And the US dollar is bound to collapse under the weight of the massive deficit.
Remember the autumn of 2008, when the world stood on the brink of financial collapse, gold had plunged. It fell to $712.30 an ounce on November 12 2008, as investors repatriated risky assets, prompting the dollar to rise.
Juxtapose this against America’s debt load, that exploded during the financial crisis, with unprecedented government spending and by underwriting of private sector’s debt obligations. What happened to the dollar?
The US has reportedly sold more than $2.1 trillion of treasury notes and bonds in fiscal 2009, more than the previous combined two years.
Also, do not forget gold’s role as an overlooked benchmark, that shows the greenbacks’ rapid loss of purchasing power.
Gold is a barometer of investor anxiety, and clearly today, there is too much anxiety.
Mining M&A May Double This Year, Ernst & Young Says (Correct)
Share Business ExchangeTwitterFacebook| Email | Print | A A A
By Rebecca Keenan
(Corrects company name in headline.)
Feb. 16 (Bloomberg) -- The value of mining mergers and acquisitions may more than double this year, snapping a two-year decline, as China and India seek to secure supplies of raw materials, Ernst & Young LLP said.
The value may rebound to 2006’s levels when $175 billion of deals were done, after halving to $60 billion last year, Ernst & Young’s Global Mining & Metals Leader Mike Elliot said in an interview. They peaked at $210 billion in 2007, according to a report by the consulting firm.
Mining companies such as Anglo American Plc and Vale SA sold a record amount of dollar bonds last year to bolster war chests for acquisitions, expansions and buybacks. China, the world’s largest metal consumer, may add to last year’s record $32 billion spending on resource acquisitions.
“Many mining and metals companies are looking for acquisitions to fast track supply pipelines, driven by confidence in ongoing underlying demand in China and India,” Elliot said. “We are seeing a lot larger lists of potential buyers than there are assets available.”
China led acquisitions last year, accounting for 24 percent of all deals, compared with 18 percent a year earlier, Ernst & Young said in the report released today. There may be the same amount of interest from China this year, Elliot said.
“The Chinese have learned very quickly how to successfully do these deals,” he said.
Companies making acquisitions may use proceeds from bond sales as an alternative to bank financing, he said.
To contact the reporter on this story: Rebecca Keenan in Melbourne at rkeenan5@bloomberg.net
ttmasher, dont get to excited re what you see on pinksheets, check the date on those numbers. With the acquisition of the properties the outstanding shares at present are closer to 500 million, have a good one
Time to reload on your favorite gold stocks
The correction in gold prices has clearly unnerved many of the newly-minted gold bugs.
The simple fact gold is not going up $20 a day has sent the “hot money” running for the exits.
Investors willing to wait out the passing storms and keep their eyes on the big prize, however, are going to do exceptionally well.
In fact, this correction is likely creating another great opportunity to reload on your favorite gold stocks.
It’s not just me who’s seeing opportunity in gold stocks now. Secretary Geithner, Chairman Bernanke, and Mr. Market have all recently signaled now is the time to buy gold stocks.
Secretary Geithner: Words that will live in infamy
Over the weekend on ABC’s Sunday political show This Week, the Treasury Secretary took to the airwaves once again with plenty of focus-grouped phrases to attempt to help create the image of how worse the economy would be without the stimulus, bailouts, etc.
It didn’t take long for Geithner to get off script though. Nearly halfway through the interview he started looking ahead into the future and making some bold guarantees.
The following exchange reveals a lot of how the current administration views the massive and growing fiscal deficits and its ability to continue issuing bonds:
Jake Tapper: Is the United States going to lose its triple-A government bond rating? And what happens when the credit markets are no longer willing to buy U.S. debt?
Secretary Geithner: Absolutely not. And that will never happen to this country…
If history is any evidence, when a government representative completely rules out something from happening, it’s pretty much a sure bet it’s only a matter time until it does happen.
That’s why when a reassuring Treasury Secretary says “absolutely not” and “never,” we know the dollar’s fate is pretty much sealed.
Of course, Geithner isn’t alone. The Fed Chairman continues to see the green light to keep to the printing presses running at full speed.
Chairman Bernanke: The only indicator that matters
As we’ve discussed before in Is The Free Money Party Over?, GDP growth, unemployment, and other bits of the financial news media’s “top noise” simply don’t matter too much to the Fed Chairman. The key economic indicator Bernanke is watching is consumer credit.
After all, the economic theory du jour finds deflation as the creation of all economic ills. And simply preventing deflation by any means necessary can prevent a depression and will lead to prosperity and growth.
Despite how many things are wrong with that rationale, we know that means consumer credit growth is what will signal when the Fed starts hiking rates.
Right now, consumer credit is still contracting. Last week the Fed reported consumer credit for the 11th straight month. Consumers cut their debt loads by $1.8 billion in December. That’s a sharp drop from the $21 billion in November, but since it still signals a decline in consumer spending, it’s a green light for the Fed to keep fighting deflation handing out free money.
Mr. Market: Gold stock timing Indicator says “buy”
Bernanke and Geithner are signaling good news for gold is ahead, but it’s Mr. Market who is once again signaling now is the time to get back into gold stocks specifically.
In fact, the market is saying this is the best time to buy gold stocks since the markets were still jumping off their lows last spring.
The chart below shows the how many shares of Market Vectors Gold Miners ETF (NYSE: GDX, Stock Forum) an ounce of gold will buy over the past three years:
As you can see, the current ratio is just shy of its highs from last April. That’s a very good sign for gold stocks.
We use this ratio as the market’s perspective on the staying power of gold prices.
A low ratio (high gold stock prices relative to gold) means the gold bulls are running strong and sentiment is high. Since the market believes the future of gold is bright, they’ll bid up gold stocks much faster than the price of gold. This is a time to sell gold stocks.
A high ratio (low gold stock prices relative to gold) shows sentiment is bearish the market believes gold prices are likely to fall. Investors sell their gold stocks as they expect earnings and cash flows to decline. This is a time to buy gold stocks.
Right now, with the ratio well above its short-term levels and nearly double its long-run levels, Mr. Market is telling us it’s time to buy gold stocks again.
Long and short of it
At this point, the short-term outlook for gold isn’t looking too bright. Since the December highs, the price of gold has fallen more than 10% from recent highs. Meanwhile, the largest gold stocks are down more than 25%.
The medium and long-term outlook, however, hasn’t changed much at all. Consumer credit is declining signaling Bernanke will keep interest rates far too low for far too long. The U.S. government seems over-confident about the tremendous appetite from a government whose debt is growing at nearly three times rate as GDP.
The combination of bearish short-term sentiment and outstanding long-term fundamentals are likely creating another opportunity in gold stocks.
If you’ve been waiting for a chance to reload on your favorite gold stocks, this time is as good as it has been since last spring. Don’t let it pass you by.
ABOUT THE AUTHOR
Andrew Mickey
Andrew Mickey, Chief Investment Strategist, has quickly emerged one of the world’s leading publishers of investment ideas and recommendations. Never one to get caught up in the herd, he has made his mark finding investment opportunities long before the rest of the pack catches on.
Andrew, a contrarian to the core, has made extremely successful calls on coal, gold, silver, oil, potash, and technology stocks resulting in triple-digit gains for his readers. He is best known for urging investors to get out of ethanol stocks and buy fertilizer stocks during the height of the ethanol boom in July 2006.
His expertise and investing acumen his highly sought after. He currently sits on the advisory boards of two venture capital firms that have jointly controlled almost half a billion dollars in assets.
lol masher, you sound like someone who just talked to John, good on you, welcome to the club
Gold looking much better the last few days, lets hope it continues onward and upward
fsail, I did read that and it may be the same scenario here with comstock and another few companies. Great scenario and very workable
2 million would be a nice number, tt, and no apologies needed
Well, at the risk of being called a pumper, this article may present itself another silver lining
Uranium poised to profit from Nuclear Revival
Mon, Feb 8, 2010
Feature Articles, Uranium Articles
By Leia Michele Toovey- Exclusive to Uranium Investing News
Last week, I attended a seminar sponsored by Windward Global, with keynote speaker Darren Gale, vice president, Nuclear Services Babcock & Wilcox Nuclear Power Generation. Babcock & Wilcox’s Nuclear Power Generation division is responsible for the designing, manufacturing and delivering components for Department of Energy Programs.
The message Gale gave was clear. The world needs power. The US Department of Energy forecasts that the United States will need 28 per cent more electricity by 2035. Overall, world energy demand is expected to increase by more than 50 per cent by 2030. How will we be able to meet this demand? Currently, in the US, coal produces 48.5 per cent of US electricity; natural gas 21.3 per cent; and nuclear 19.6 per cent. The rest comes from hydroelectric dams and small amounts of renewable energy.
Across the globe governments are re-evaluating their energy portfolio. Green energy sources are increasingly important as federal, state and local policymakers consider energy supply and greenhouse gas mitigation. Climate change legislation dominated Capitol Hill during the months preceding the United Nations Climate Change Conference in Copenhagen, Denmark. The House and the Senate are working on bills to reduce greenhouse gas emissions, with both chambers recognizing the importance of utilizing nuclear energy to achieve that goal.
When it comes to green energy- nuclear energy stands out in the pack. Nuclear energy is the only carbon free energy solution that does not depend on wind, sun and water. Nuclear energy provides electricity production constantly, 24 hours a day, seven days a week, regardless of weather conditions.
An International Energy Agency (IEA) analysis found that nuclear power’s life-cycle emissions range from 2 to 59 gram-equivalents of carbon dioxide per kilowatt-hour. Only hydropower’s range ranked lower, at 2 to 48 grams of carbon dioxide-equivalents per kilowatt-hour.
Nuclear energy’s life-cycle greenhouse gas emissions are lower than wind (7 to 124 grams of carbon dioxide-equivalents) and solar photovoltaic (13 to 731 grams of carbon dioxide-equivalents). The life-cycle emissions from natural gas-fired plants ranged from 389 to 511 grams of carbon dioxide-equivalents per kilowatt-hour.
Green energy is getting more than just lip service. Two major analyses issued in 2009 of the House version of the bill (H R 2454) make the case that significant nuclear energy provisions are necessary to achieve US greenhouse gas emission reduction goals. The Energy Information Administration issued “Energy Market and Economic Impacts of H R 2454, the American Clean Energy and Security Act of2009.” The Environmental Protection Agency released the “EPA Analysis of the American Clean Energy and Security Act of 2009 (H R 2454).”
President Obama’s proposed budget includes US$ 108 million in new funding to advance and expand green energy. Obama’s fiscal 2011 budget is seeking nearly a 200 per cent increase in nuclear funding.
The push for green energy is driving nuclear energy into the spotlight. Besides being green, nuclear energy has other benefits. It’s economical to produce. As the price of oil and natural gas continue to skyrocket, nuclear energy production costs remain steady and well below that of electricity produced from gas, petroleum and coal.
Nuclear energy is dependent on uranium; the uranium fuel for US nuclear plants is abundant and readily available from stable allies, such as Canada and Australia- no offense crude oil. The long-term stability of fuel cost, coupled with industry success over the past 15 years in reducing operating costs, makes America’s 104 nuclear reactors one of the best sources of available electricity.
On the back of the recession there is a focus on scientific advancement, new technology- coupled with an attitude of urgency. Uranium is poised to benefit from the “Green Energy Revolution.” According to the World Nuclear Association, across the world there are 436 operating nuclear reactors, 45 under construction, 131 on order or planned, and 278 proposed for generating electricity.
In the last fifty years, uranium has become one of the world’s most important energy minerals. There are many uranium mines operating around the world, in some twenty countries, though more than two thirds of world production comes from just ten mines. Energy has always been a smart investment, and with the push for nuclear power- uranium may just be one of the major players in the next bull-run.
EDF, i guess you can have as many user IDs a you wish, as long as you can remember all your emailaddresses and passwords. Personally i dont think JP would take a chance on posting being the President, think as yo wish. To many newbies?, whats wrong with that, to many same old pessimists also
masher, thats one opinion i agree with
you got that right raider, and with John at the helm i have great faith because he said,OOOOOPS
lol, this is fun,morning fsail, dont waste yourtime, JUST WAIT FOR A PR,lol
Yesterday's Top Story: Gold to hit $1,350 - $1,400 by late Spring - John Embry
Speaking on the Mineweb Gold Weekly Podcast, Sprott Asset Management's chief investment strategist says while the yellow metal is likely to continue to consolidate over the next few weeks, the next major move will be up.
Author: Geoff Candy
Posted: Wednesday , 03 Feb 2010
GRONINGEN -
Gold should continue to consolidate over the next few weeks but, the next big move is likely to be up.
This is the view of Sprott Asset Management's chief investment strategist John Embry, who says he is looking for the price of the yellow metal to hit around $1,350 to $1,400 by late spring.
Speaking on the inaugural Mineweb Gold Weekly Podcast, Embry says the recent downward trend seen in the gold price is nothing more than a healthy correction.
"Gold had a 300 dollar plus run in US dollars from July into the early part of December and it has come under heavy pressure subsequently. It certainly has engendered immense bearishness amongst the commentators which is actually good from my perspective. I think the fundamentals are undisturbed and as a result it is setting up for another strong buy."
Asked about the link between gold and the US dollar, especially the recent strengthening of the dollar against the euro, Embry, says, while there is often a very clear link, the problems in the US and, by extension, the US dollar, are everywhere - especially given the huge budget deficit it is sitting with - so "the idea that one should run away from gold and into the US dollar because it is strengthening against the euro and several other currencies to me is actually preposterous.
"The idea that the US dollar is a safe haven today is flat out wrong," he added, "and that is going to be one of the major factors that are going to change the perceptions in the gold market going forward."
Another reason for Embry's conviction about bullion's next move, is the increasing role gold will play as a protection against monetary debasement.
"I think a lot of the world's wealth is figuring out that we have little choice given the debt problems in the world and the resultant unlimited creation of money and so I think there is a solid investment bid in the market for gold."
He adds, that concerns that have been raised about the possible impact the jewellery market is likely to have on the long term rise of gold because, he says, "all great bull markets in precious metals come from their reestablishment as money."
lol, no dont be a naughty boy anymore, good to see you back my friend.
raider, that is exactly the case re Comstock Royalty, it will be a financing arm for companies such as USAU. Great concept, if it goes public got to get me some of those also
masher, u r the hot head. If you want to find info from a pr, then wait for a pr, and dont read the boards and cry like a baby wanting candy re what you read. Dont you get it, that is exactly what you r saying, yet you continually come here and look for info and whine and cry. How do you know John said this is valued at .23, you mean you actually talked to him, omg, so now ur pissed. This is the stock market, not church. Stocks dont always trade at their value, and yes this stock has a value of probably over that, but there are things that need to be done to reflect that, and market conditions have to improve. Done with you, last post re you. Waste of time
good, and then you will totally agree with my last post also.
hey, head case, I dont pump the stock and you can say all your little mouth wants to spew. I speak with the president regularly sonny boy, and i report back what we are to EXPECT, you just dont get it. Why do you come to the board if all you are doing is waiting for PRs , just to try and cause disention. Lol, you are one funny dude
More investment demand for gold on way – Gold Fields
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By: Martin Creamer
5th February 2010
Updated 6 hours ago
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JOHANNESBURG (miningweekly.com) – There will be more investment demand for gold in 2010, says Gold Fields CEO Nick Holland.
His view is that 2009 saw only the start of investment demand for gold and that the world would see more in the current year.
"There'll be continued growth of new funds looking to have a piece of gold," he tells Mining Weekly Online.
It will be the continuing investment demand for gold that will be the main thesis behind the improving gold price, he adds.
Jewellery demand will not be the solution to the gold price rising, "I think we have to make peace with that".
Investment demand, he points out, is currently only 0,8% of the total funds under management to gold.
While some say that the exchange-traded funds (ETFs) have run hard now and that they are going to be sold off, the reality is that for every one person wanting to sell an ETF, there are two or three people wanting to buy one.
Even if gold investment demand rose from 0,8% of the total funds under management to 1,2%, a huge amount of gold would be absorbed.
"I would like to believe that we have a reasonable underpin where we are and that the gold price can go higher from here," he adds.
Primary supply of gold, in his view, is going to continue to decline on the back of a dearth of exploration projects and a dearth of exploration dollars over ten years that is now starting to manifest itself.
Also, mining cash costs are rising as quality deposits are replaced with low-quality deposits.
"All of this augurs well for the gold price," Holland says.
Also, central banks are buying, not selling. "So, net, I think it's positive."
masher, we will continue to update the board as we wish, wether you like it or not. You obviously make your investment decisions from boards, cause it sure seems like you dont make efforts to call management, and that is the reason we need to post such, JUST FOR YOU
masher, things are expected, things get delayed, ladadadadadada, you dont know that yet, come give it a reast. Call Perez and post what he says, if you live what you hear as gospel re stocks, you will stress out and never maken it to heaven
glad you enjoyed that, here is another from Jim Sinclair
GOLD PICK POCKETS CONTINUE TO PROSPER
Dear Comrades In Golden Arms,
Gold is down today because stops got run on the paper gold exchange. That came on the back of a strengthening dollar due to a weaker euro as a mirror effect.
Please return to December of 2009 when the impending dollar rally was sold based on a sustainable US economic recovery. That was enough to convince money managers. That demand then triggers the algorithms which fires off huge fund buying for what today is no reason at all.
Our friends at the COMEX use this phenomena to bomb gold and so many of you have a heart attack selling your insurance in both shares and metals. It is like living in a mental hospital where emotions drive all decisions and most of those are total madness.
Technicals run the short term
Fundamentals run the long term.
Insurance is not a day to day item.
Despite these facts, most of the public gets pick pocketed in the paper gold market as a ritual played out every 28 days. You are not better than Trader Dan therefore stop speculating before you have no money left to protect.
Jobless claims were anticipated lower to confirm December's US economic recovery enthusiasm, but went the other direction today. This is another wound in the assumption that started your dollar rally in December.
Other reasons given for the general decline in commodities was fear that world demand for raw material will subside. As usual the West assumes it is the engine of world demand for everything.
The West is not anymore.
As the BBC special , "The Last Days of Lehman," clearly points out, the Wes is F**ked and we did it.
Read today's article by Monty Guild on www.JSMineset.com) and get the right information on the economy of the East.
Moving on to Euroland, the ECB now wishes they did not make so much noise when the euro was trading at $1.52. Verbal intervention can go both ways. The media keeps screaming Greece and Spain are about to bury the euro, so off goes those algorithms that drive all markets nuts one way or another.
Between algorithms and OTC derivatives, the Finance Geeks have killed us all. As the BBC special says quite clearly, the West is f**ked.
Gold will trade at $1650 and then on to higher numbers.
The hotshot traders whose egos assure them they will never miss the game of monetary musical chairs, will be buried.
As soon as they are broke from trading gold, the gold market will do all I have said it will do and the dollar will tank.
Wall Mart will not have any openings for greeters and kids have all the hamburger flipping jobs.
ECB chief says Greece takes steps in right direction
Trichet: Stability and growth pact must be respected; rates left unchanged
By William L. Watts, MarketWatch
LONDON (MarketWatch) -- European Central Bank President Jean-Claude Trichet cautiously backed Greece's austerity measures Thursday, while insisting that nations must respect European deficit and debt limits as worries mounted over debt woes across the periphery of the 16-nation euro zone.
The ECB chief, speaking at his monthly news conference in Frankfurt following the central bank's widely-expected decision to leave its key lending rate unchanged at a record low 1%, said the bank is "confident" Greece will "take the appropriate measures" needed to put its budget in order.
European Central Bank President Jean-Claude Trichet told reporters Thursday the euro zone still faces major challenges but is heading in the right direction. He was speaking shortly after the ECB kept interest rates steady.
Trichet made it clear that the ECB sees the stability and growth pact, which limits deficits to 3% of gross domestic product, as sacrosanct. Greece last year ran a deficit of nearly 13% and has vowed to cut it to 2.8% by 2012.
Trichet, in remarks that echoed previous calls for adherence to fiscal limits, said the ECB continued to call for "strict implementation of the stability and growth pact."
More...
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lol, you would think.Heres a long bit but good bit of reading
Willie: A break down in the gold market....AWESOME!!
A great disconnect exists in the gold market between the exchange futures contract price (the paper price) and the gold bullion paid price for transactions (the physical price). The differential in price is growing wider, enough to place tremendous pressure on the gold market itself. Look not to the gold premium paid for purchases, but to high volume purchases in the tens of million$. In mid-December, almost every demand for gold contract delivery was matched by a cash delivery, complete with 25% bonus premium offered. The officials even produced a new ledger item called 'Cash For Delivery' that was necessary to balance their badgered books. It prompted little attention. Some call it a basic bribe. Others call it a technical default.
Fast approaching is the event of GAME OVER for London, a condition that has already reached critical level, according to a key reliable source of information with Londonconnections and direct experience with its market events. How long can a major metals exchange sell contracts but have miniscule supply of gold in their vaulted possession? The paper gold market and the physical gold bullion market have finally separated in a practical manner, meaning actual gold has almost no role anymore in London paper contract settlement. The absence of gold in Londonrequires extraordinary tactics to settle contracts and to obtain gold bullion. Red tape procedures delay delivery for individuals, and bribes accompany gold delivery demands as standard practice. The London Bullion Market Assn has almost zero gold, its supply having been drained in high volumes since early December, a process currently in acceleration. The opportunity to convert fiat money into precious metal at prices considered reasonable is also vanishing. The London gold banker said,
"There is going on a lot more than meets the eye. The physical system is actually consolidating bigtime and is organizing itself with lightning speed, totally hidden from pretty much anyone, even the so-called insiders. The paper precious metal market and the physical precious metal market have defacto disconnected. The paper and physical gold markets currently operate in parallel universes. The outflow of physical metal from bank vaults is happening at a mind bending pace."
Notice the reference to consolidation and re-organization in a manner not apparent to those fixated on the existing cockamamy corrupted system that is permitted by loyalist regulators. The officials in the LBMA, COMEX, USDept Treasury, and elsewhere are struggling to maintain the current system, and reportedly are not in step with awareness of the newly devised structures coming into place. In the background, far from view, new systems are being fabricated from scratch. Some involve complex barter systems soon to emerge and hit the scene with a splash, with impressive vertical integration. At the same time, new currencies for usage are still undergoing planning, foundation setup, contract latticework, and more for actual implementation.
The true gold price might very soon become unknown, an extremely positive development. Telltale events such as bankruptcy, lawsuits, and arrests are likely to come, all in time, since the breakdown in order has led to extraordinary reactions. Right now, we see extremely strong tactics using naked gold short contracts at theLondon metals exchange (LBMA) and the COMEX in the United States to drive down the gold price. It is all illegal and permitted. Margin calls have hit, forcing further selling of paper contracts. Gold investor sentiment among the naive and less informed has been dragging, ever since early December.
The world is approaching a climax event. Sure, many analysts have made such a claim for months. But with Europe in flux, the USCongress in flux, the Persian Gulf in flux, the US-China trade battles escalating, and USTreasury debt finance recognized more and more as monetized printing press activity, we are truly approaching a climax event as gold metal has exited the London market. The trigger event is unknown. It will likely not be directly related to the above event fronts. It will probably be a typical garden variety event pertaining to the far from ordinary stresses tied to the ongoing crisis in the credit market, gold market, and currency market.
The financial press is critically important precisely now, for not spilling the facts on the current gold market breakdown and divergence. Much of the pressures are hidden though, since the financial press networks report only the official paper-based prices. Do not expect to read in Reuters or Bloomberg or the Associated Press or Wall Street Journal or the New York Times or Investors Business Daily or Barrons that a grotesque gold shortage exists in the London metals exchange or at the COMEX inNew York and Chicago. They will not report that London is virtually drained of gold, yet still sells gold contracts. Accurate news reporting would accelerate the breakdown and remove the possibility for time extension. The press will not report that billionaires are emptying their gold bullion accounts at rapidfire pace, out of gross distrust of the bankers, since gold leasing has illegally been standard practice for many years. Imagine selling lumber contracts without wood delivered. Imagine selling mortgages without home titles delivered. Actually, Wall Street did precisely that from 2003 to 2007.
LONDON AS TARGET
Last August 2009, a busload of former key employees from the USDept Treasury and Wall Street firms arrived in Brussels Belgium. They turned themselves in to legal authorities in an attempt to avoid eventual prosecution. They came loaded with evidence, documents, emails, testimony, boxes of CDs, and much more. They won asylum in exchange for turning state's evidence. The Brussels Serious Fraud Squad is running with the data. All indications point to a strategic decision made by the Brussels Interpol squad. Their target is London, because it lies at the center of the syndicate enforcement of the fiat currency system, where the gold suppression is centered, where the greatest point of weakness exists, where the absence of gold is most glaring to make them vulnerable. London is the weakest link in the Ponzi Scheme chain, known as the global monetary system with USDollar price mechanism and USTreasury Bond reserve component in banks.
Another important event occurred, this in December. A clearinghouse held a Letter of Intent to supply the London metals exchange with 250 metric tonnes of gold bullion. The contract was interrupted. The method used to disrupt and derail the contract is a story unto itself. Little is known in verifiable form. The point is thatLondon bankers were denied an important channel of gold in supply. At the same time, demands came from private billionaires to take back possession of their gold in allocated accounts. They are often called in the gold industry the 'sovereigns' politely. When pressed for details, my sources tell of their Chinese background. In recent weeks, the billionaires have been joined by others from Central Europe, in particular from Switzerland. So London is being drained of gold and not being resupplied, from the front door and from the back door. A breakdown is coming, and accidents assured. Gold is the ultimate vulnerability. It underpins the USDollar, competes with the USTreasury Bond, while the USDollar remains buttressed by the Petro-Dollar defacto standard. That too has been served notice. See the Saudi announcement last May 2009, with Russia, China, Japan, and Germany at their side. Eventually, crude oil sales will not be fulfilled in US$ settlement.
PARADOX OF INELASTICITY
Gold is unique as a market, as far as its tendency to seek equilibrium from matched supply and demand. Since the year 2005, my analysis has pointed out the unique condition of gold as far as supply inelasticity is concerned. My forecast over four years ago was to expect less gold output from the mining industry, even with higher gold price. That forecast was correct. In addition to more difficult mine projects, deeper ore bodies, thinner gold veins, and more costly projects, other paradoxical factors have been at work. The industry projects surely translate greater challenge into lower output. Introduce the lunatic management of the Marxist leaders in South Africa concerning electricity production. Dirty coal at power plants and higher mining firm taxation assure much lower gold output from the industry's former leader. Numerous are the reasons for lower gold output in the current year, even with high gold price. The industry is in decline. Ultra-rich ore bodies are long gone.
My forecast of lower gold output at higher gold price, the inelastic factor, went like this. As large mining firms suffer the consequences of their unwise (surely illicit, perhaps illegal) future gold sales within their cratered hedge books, the losses would approach catastrophic levels. Take Barrick Gold for example. In 2007, they announced the complete cover of their disastrous hedge book. They lied and covered about one third, using dilutive new stock issuance and new long-term corporate debt. In summer 2009, they announced again the complete cover of their disastrous hedge book. The financial press forgot that they supposedly removed all future commitments just two years ago, hardly a surprise lapse of memory. Again Barrick lied, since they ran out of funds from yet another grand stock issuance that again crippled their stock from vast dilution. The Toronto and Wall Street investment community still loves this total dog of a stock, as collusion and kickbacks must be main features to prop the stock. Just look at its Board of Directors to detect vast syndicate presence. In fact, it has two Boards to provide extra service to the stockholders, more like one to the syndicate. So in conclusion, the cover of huge hedge books cost the big mining firms tens of billion$ in funds that otherwise would be devoted to mine projects and additional gold output. It did not happen, since mine industry funds went into the sewer of future gold price suppression. The most curious aspect of this factor is the lack of investor lawsuits for failed fiduciary responsibility.
The flip side to this important price reaction factor is the demand inelasticity. When on the upslope, the phenomenon is called Gold Fever. A rising gold price prompts a rising demand for gold. Imagine a 50% increase in the price of televisions resulting in lines forming to buy more costly TVs. Never. But such is normal for gold. When on the downslope, the phenomenon works in reverse. A falling gold price, in particular for the paper gold price dictated by brutal gold futures contract pressures, often not reinforced by the presence of gold bullion, results in a gradual darkened gloomy sentiment for gold. People do not rush to buy more gold since it has been offered at a cheaper price. Rather, they are trapped in margin calls when leverage is applied. Rather, they give up and sell out, dump their gold, and lick their wounds. These are the legion of dummies and risk junkies. These are the vast hordes who do not exercise patience and prudence, fully aware of the gold exchange distress. They will return, but when they do, they will purchase gold at a price 50% higher than when they abandoned the precious yellow metal. They will double up when the gold price has doubled.
DIVERGENCE TOWARD COLLAPSE
My forecast on gold made a couple months ago within the Hat Trick Letter was clear.The gold price will experience a remarkable divergence. As the collapse approaches, the paper gold price (from futures contracts) will decline while the physical gold price (from bullion purchases) will rise sharply. The differential will grow gradually at first, then burst into a grotesque price disparity. When this occurs, expect darkness to fall upon the gold market. At this point, pure speculation follows. My expectation is for the official gold metal exchanges to shut down, at least temporarily. They have no gold, after all, so there aint nuthin to sell! To remain open only aggravates their contract and legal risk. Look for prosecutions of middle level officials from the exchanges, heavy police pressures put on them, and deals cut to bring down the kingpins. This is standard police procedure. Lawsuits are the wild card, hard to control, difficult to predict.
Pressures build that contribute toward the divergence. Whenever large deliveries are made in recent months from the gold exchanges, a new rigorous procedure must be followed. Delivery verification involves strict assayer information like certificates and dates and firm names and stamps. Before autumn 2009, such procedures were unheard of. One can make two conclusions. First, the buyers are distrustful of the gold bullion quality, amidst prevalent stories of not just 80-year old bottom of the barrel London gold bar quality, but of tungsten bars with gold plating. My sources tell of widespread cooperation toward data gathering for the documentation of the pathways that prove broad tungsten bar fraud. The risk is palpable, as murder threats hang over the project. These are after all syndicates, and they have had full control of the government treasuries ever since 1992, when Robert Rubin infiltrated the scene as US Treasury Secretary from his former Goldman Sachs currency trading post.
My expectation is when the breakdown comes, several key locations across the world will post and publish their actual transaction prices without names. They will vary somewhat. Even today, the Hong Kong gold spot price differs from the London gold spot price by $10 to $20 per ounce. This is standard, and reflects different demand levels against different supply levels. However, in the not too distant future, several key locations will herald their actual gold prices, which will be averaged, thus enabling the first true gold prices in a few decades. That day is coming, and those who stubbornly hold their physical gold & silver, do not yield to pressures, do not react to phony paper prices, they will be rewarded.
People who expect that day to be accompanied by unaltered political and economic landscapes are badly misguided. Think ugly! In fact, some ugly developments already have begun to crop up. A new USGovt rule requires that any large volume gold purchase must satisfy strict anti-money laundering guidelines. So further restrictions have come. Maybe the day will come also for declaration of any American owning a foreign bank account to be illegal. Think desperation!
THE GOLD BASE AMIDST CONFUSION
Many are the background factors to gold. The principal story comes from Europe.The default of sovereign debt is assured to all but the experts, for Greece, forSpain, for Italy, for Portugal. Germany walks a fine line, as they pretend to prevent the breakdowns. They eagerly push for defaults, along with expulsions from the European Monetary Union, that group sharing the Euro currency. The Euro experiment has been a failure to Germany, ransacked of $400 billion each year in savings for a full decade. That tally is $4 trillion to Germany, which wants the Southern European fat trimmed off completely. The Euro currency decline will continue until clarity comes to the expelled member nations and to the new structure in the aftermath. The current Euro will continue to flounder in confusion, seen as a queer benefit to the USDollar. The European core with Germany and Benelux nations at its nucleus has firm fundamentals, a fact to emerge soon. European leaders benefit from a lower Euro valuation, as export trade can be encouraged in an economic stimulus, but more importantly as US$ reserve assets rise in value for bank support. Dubaistarted the process of debt intolerance. The Euro has embarked on a death-birth process, the end of the Broad Euro and the beginning of the Core Euro. The new Core Euro currency will resemble the old Deutsche Mark, whose return will coincide with other nations reverting to their former domestic currency. Except the new DMark will be strong and the reversion currencies will be trashed 25% to 40% lower. Unless and until Germany emerges with a solid plan with a new Super-Trim Euro currency, the US$ will benefit at the Euro's direct expense. The Euro usage as a secondary global reserve has caused suffering. It was not designed for that purpose. Reversal is demanded. Gold faces competing forces to both lift its price and harm its price.
The currency market is in disarray. A bizarre USDollar rally seems to be underway, a second chapter to the Dollar Death Dance from one year ago. The chaos in the Euro currency combines with threats to sidetrack the extreme USGovt wasteful spending course, to offer cause for a higher USDollar. Such confidence in restored fiscal management is grossly misplaced, as the Black Holes of Fannie Mae & AIG expose colossal costs, and as the military budget grows without check or balance. The wrecked USGovt, USBank, USHousing, and USEconomy indicate a continued decline is justified. The Q4 Gross Domestic Product figure should have elicited laughter, but at least analysts noted the powerful effect of inventory buildup. Q4 data will reveal a climax sugar high, clearly evident as the USFed and USDept Treasury attempt to step back from powerful monetary excessese. Without a lower USDollar and lower USHousing prices, no economic recovery is remotely possible. A bright populist light attempts to expose the wayward US central bank. Chairman will defend its ramparts, but the syndicate is growing desperate.
Gold is hostage to the European reconstruction and the USCongressional revolt. At the same time, the paper gold market and the physical gold bullion market have finally separated. Divergence and havoc come next. The paper gold price might find the 1080 level to serve as a base for the next upward leg in recovery. Be sure to know that gold has entered the Twilight Zone, along with the major currencies. The USDollar and the Euro currencies float adrift in the FOREX seas of confusion, as fiat money is more openly doubted. What is the value of the Euro if suddenly two, three, or four nations must end its usage, default their debt in its denomination, revert to older drachma, peseta, lira, complete with devaluation? Who knows? Gold will benefit from the chaos and confusion. The USDollar appears to benefit. The USGovt is much like a desperate gambler in Las Vegas, who is doubling down as the bust looms large. The main tool used by the USGovt to finance its debt is the hidden Printing Pre$$. So far in the last twelve months, credit must be given not by creditors, but instead credit must be given to the Inflation Engineers who have managed to keep the vast monetization of USTreasury debt off the pages of the financial press and off the air of the financial networks. For every dollar financed by actual bond bids and purchases, three to five dollars are financed by Printing Pre$$ kept ashidden as possible. The levitation of the USDollar in such an environment is a very temporary situation.
When the billionaire sovereigns demand their gold to be returned home, no longer under custodial mismanagement, this does not represent new demand. The new demand comes from legitimate funds like those run by Paulson and Sprott, which have actual gold bullion behind their funds as stipulated in the prospectuses. The trust for the biggest Exchange Traded Funds is grossly misplaced in my view. No further slam criticism will be provided for the GLD & SLV funds. In my view, they will each become objects of criticism, lawsuits, and possible legal action at later dates. When the flack comes, their shares will probably trade at deep discounts to the gold & silver prices, maybe sooner than one might think. Little fanfare came when the decade closed in December, and the big winner among all investment classes was Gold. As the story of its performance is more fully recognized, when the facts sink in, expect investment demand to increase.
Futures contract in gold are broken, and former failures to deliver will become common. Anticipate counter-parties to go bankrupt and investors to be stuck with worthless paper gold derivatives. Physical gold is the best protection. Sovereign gold reserve levels have been updated. These are lowball figures that exclude holdings outside central banks, like in certain sovereign wealth funds. The IMF & USGovt levels are pure fiction. The Russian central bank is ramping up its gold holdings. Private sources tell of Putin storing much more gold in non-govt Russian locations in addition, that avoids public accounting. China also has hidden gold holdings. At a mere 1.5% of stated reserves held in gold, China has much catching up to do. Most nations command 15 times as much gold as China in ratios. Demand by China will surely be steadily strong, powerful, and significant for years. Most industrial nations command a 60% to 70% gold ratio in total reserves. Debate aside on reserves reality, if China were to strive toward 65% in gold ratio of reserves, it would need to accumulate 44,619 tonnes of gold bullion. Their deficit represents 27% of the total existing gold hoard held above ground. The path toward prudent reserves management will push the gold price skyward.
Gold inspectors have arrived in London, barbarians at the gate. The drainage of gold bullion at the exchanges is well along. Revelations of contract fraud and delivery failures has begun. Some analysts have dished out criticism of an article written by the Jackass last May 2009 about hitmen coming to bust the COMEX. Eric deCarbonnel of Market Skeptics seemed to require the signed contracts with dates and ordered hits, even weapons used, methods detailed, blood spray patterns documented, in a very foolish rebuttal. Curiously, Eric deC has provided corroborating evidence to fortify my arguments, with details on irregularities in well written articles to cover events from London. Otherwise, he does excellent analysis. My comments were general in the article, offered figuratively. In no way were they intended in literal fashion, like men with uzis and machine guns in a hail of bullets directed at exchange officials, laying waste to the corrupt halls leaving pools of blood. The process has begun, as hitmen have indeed arrived. The location is London, not New York, but no difference since a strong umbilical cord of fraud connects the two primary locations.
The hitmen came in two types. The first were contract holders who drained the London Bullion Market Assn of its gold in late autumn, especially December. Many were wealthy Chinese billionaires, demanding return of their own gold bullion, forcing return with legal action and hired attorneys. Others more recently were Swiss wealthy individuals, whose demands confirm suspicion of illegal and illicit practices, like leasing from gold accounts for sales. Now secondly have come the inspectors, hired by individual billionaire account holders who could soon demonstrate improperly leased gold. The inspectors are the HITMEN!! They actually began arriving in early December but have widened their scope of work. The metals exchanges cannot stop them from performing their inspections and verifying hundreds of million$ in gold account holdings, sometimes billion$. Gold bullion has improperly been leased. Exchange officials should be worried about lawsuits and claims of contract fraud, as well as prosecutions and middle level employees offering state's evidence. They might be more worried about angry billionaires defrauded of their gold bullion, who hold mere paper certificates. Such men indeed have hefty budgets to hire professionals to do some dirty work in the shadows. Eric deC might actually see contract hits if patient enough.
and thats what i SAID, lol, maybe you should go back and read it again, have a good one
hey bud, you started it, sad to say. Did I post anything that you have to believe, no, and if you dont believe the company is working and that news will be coming eventually, then you shouldnt be holding this stock. We hold cause we percieve that news will be coming, the news will be good, and the stock will increase. Ahhhh, what a beautiful morning
i already answered that, here, let me send you five bucks so you can buy a phone card. If you think you are entitled to specifics that i or others arent, u r mistaken. ACTUALLY, USAU is just sitting there waiting for the phone to ring where someone may have an interest in doing business. Mr. Perez said his hands are getting numb from sitting on them