Silicon Investor - Blue Chip Gold Stocks HM, NEM, ASA, ABX, PDG

[hdl] checked futures middle of night - energy, gold, silver were down. now oil up s...

hdl — 4/22/2024 7:33:47 AM

checked futures middle of night - energy, gold, silver were down.

now oil up slightly. gold, silver down huge.

[The Barracuda™] ..

The Barracuda™ — 2/18/2020 10:07:02 PM

[Greg from Edmonton] Because there were more buyers than sellers.

Greg from Edmonton — 2/19/2016 12:02:08 AM

[hdl] price of gold was down then flat - so why is gld and gdx up 2%?

hdl — 2/17/2016 9:14:17 AM

[Greg from Edmonton] Wow, this thread is D-E-D dead. Some interesting items in my calendar this mont...

Greg from Edmonton — 9/12/2015 12:00:47 AM

Wow, this thread is D-E-D dead. Some interesting items in my calendar this month that I have marked as they coincide on market cycle theory. First up marks the Shemitah Year-End on Sunday, September 13. Not sure what all that means but it is significant to some. There have been rumblings that this fall and September in particular could be a significant turning point.

I have marked an upcoming date in my calendar regarding an article about Martin Armstrong's Economic Pi Cycle and Confidence Model (ref. URL is as follows, article is from 2009 October 9-10):

businessinsider.com

3141 days (?) apart from these dates:
1998 July 20 (S&P High prior to LTCM bust)
2007 Feb 23 turn prior to Feb 27 market dip and subsequent 2-year bear market

Next interval (as I have marked in my calendar, could be off on the count) is 2015 September 29.

Here is an amazing article on Martin Armstrong's "The Secret Cycle":
newyorker.com

Also interesting is an article from 2006 which mentions 2007 February 27 as a turn date, and as I listed above that date marked a significant market dip:
contrahour.com

While I do not firmly believe in cycle theory, the upcoming forecasted turning point dates bear watching with some interest.

I honestly used to pay some attention to what Martin Armstrong said but have since regarded him as a bit of a quack that is rather high on himself. In cycle terms I am more likely to listen to what Charles Nenner is saying when I happen to come across his work.

[hdl] miners up nicely today

hdl — 4/1/2015 3:15:39 PM

[dara] Jim Puplava interviews Greg Weldon on the markets covering oil, currencies and g...

dara — 3/8/2015 12:18:06 PM

Jim Puplava interviews Greg Weldon on the markets covering oil, currencies and gold. Interview starts 17 minutes into the program and ends at 39 minutes.

financialsense.com

[NOW] and so it did, but now looks like new lows in store...

NOW — 2/8/2015 11:18:08 PM

[dara] Thx! They look rather nice. Now is this the bottom or a bear market rally? Wh...

dara — 1/21/2015 12:15:20 PM

Thx! They look rather nice. Now is this the bottom or a bear market rally? Where is that crystal ball?!?

[gold$10k] Hi Dara, Here you go... 10k [graphic] [graphic]

gold$10k — 1/21/2015 11:47:44 AM

Hi Dara,

Here you go...

10k

[dara] Hi gold$10k, I was wondering if you could re-post an updated version of these c...

dara — 1/21/2015 11:34:38 AM

Hi gold$10k,

I was wondering if you could re-post an updated version of these charts.

Many thanks!

dara

[Follies] Sorry about the size, but look at this 18 year chart of the price of gold divide...

Follies — 11/1/2014 10:37:33 AM

Sorry about the size, but look at this 18 year chart of the price of gold divided by the XAU. The miners have been going down realtiv to gold for 18 years.

[EACarl] Interesting. NEM last hit this price in Jan 2002. Gold at that point was arou...

EACarl — 10/31/2014 4:26:46 PM

Interesting. NEM last hit this price in Jan 2002. Gold at that point was around $277~.
That's a QUADRUPLE in the price of GOLD and a go NOWHERE in the price of NEM over the same time period.

[EACarl] based on today's gold price drop and NEM price drop, NEM should hit $0 at around...

EACarl — 10/31/2014 3:17:26 PM

based on today's gold price drop and NEM price drop, NEM should hit $0 at around gold $800 per ounce.

[NOW] i have to say, you don't seem to make many predictions but this one was clearly ...

NOW — 10/10/2014 2:19:52 AM

i have to say, you don't seem to make many predictions but this one was clearly one of the finest ever called on SI

Dow may touch lower 7k in next few weeks. Also, I think the US dollar will finally start to trade down when the US moves with it's even more aggressive rate cut later this month, if not before then. Gold will strengthen from here. Currencythoughts.com says dollar move up is based on forced liquidations of hedge funds who are closing their books for their year end and not on capital flows which are negative for the US dollar and getting more so. Also deflation ,the likely future now, is bullish for gold just as the recent inflation was. The strength in the US dollar is also not justified by European manufacturing growth being lower then the US. The opposite in fact is the case. Gold would continue to suffer if price stability is maintained but that would entail disinflation and continued slow price growth which is highly unlikely given the down force coming from the current house price cavitation. The price of gold performed well in the thirties deflationary market. It will again in the coming and current deflationary environment. The instability likely to come from failure of Lehman swap payments to settle, due in coming week,Tuesday, from those under writers on the hook for it and the auctioning of us dollars in Europe as a part of their bank rescue package will also weigh heavily on the US dollar the principle of which, let us not forget, is the source of all this mess.

[Whitmore G.] I'm back and so shall Gold rise again!

Whitmore G. — 10/9/2014 12:33:46 AM

[Fintas] It's not about being right or wrong. It's about putting up what one sees and the...

Fintas — 10/3/2014 12:04:24 PM

It's not about being right or wrong. It's about putting up what one sees and then the hope is to discuss and debate the why with others who also have their views.

Unfortunately in the world of construction they MF ya to death and in the world of money whether it be seeing Seagate going to 75 or GLW to 28 when the majority were saying 16/12 for Seagate and 0 for Glw out they came in force.

Or seeing APPLE dropping from 700 to 448 and many then ganging up with the name calling.

Money causes many to show their weaker moments.

BUT whether one wants to hear a contrary view or not.. we should all be willing. That is why I always say.. Let's debate and discuss.

Have a good one.

And there will be a flip side i.e UP.

Pokersam put up a chart that gives the pop.

Whether it goes that low or not is yet to be determined However, I can see his number up.

OH and POG still can pop a bit before the 1174 is hit..

Be Well

Fintas

[Fintas] Thanks for the post. Although I might drive many nuts. What most should take aw...

Fintas — 10/3/2014 11:55:27 AM

Thanks for the post. Although I might drive many nuts. What most should take away and focus is not the repetitive crap. In fact if one is involved with schedules there's lots of repetitive crap day in and out.

What I did was put up a number. THE FIRST begin 1220. It was hit. And then I re assesed sp? to put up another 1174.. Which many didn't want to accept. Yet the repetitive was to demonstrate consistency versus flip flopping. It could have happened by JUNE 30 2014. It didn't. There will be no more of that re times. My pesky traders can disrupt things. The original timeframe was end of 2014. I did similar with SPX for the end of 2014. And that too is going to push due to variables put in place to orchestrate buying. But I stand FIRM on the SPX 1458. The rally we are now seeing will end.. And the game of down will continue.. POG like.. .

By the way will i change a number/target. IF I saw/see anything that suggested it.. in a heart beat. Had POG taken out 1648 I would have. But it didn't..

That never happened and now we get to see just how low it can go.

But first things first. 1174 hasn't been hit. So it's still not in the bank. The sector can still bounce if traders want to scalp but the INVESTOR is not there and has not been there. IF the large investor was there that BP PREC would not be at 24 a number I presented but it would be at 42. That becomes worrisome for I had 16 under neath that 24.

However it did go as low as 6 and it could do that. And that suggests those who have 1134/1050/1028/972 such as Zincman.. Pokerssam and others could see those numbers.

Have a great day. I'm not as I'm experiencing lots of pain in the temple area. I knew I shouldn't have taken that HAZ MAT off to eat the darn pint of rum raisin ice cream. SMILE

Fintas

[The Barracuda™] Congrats You were right and I was wrong.

The Barracuda™ — 10/3/2014 11:29:21 AM

[Mike M2] I remember your conviction that POG would hit $1174 well today we are $1192 and ...

Mike M2 — 10/3/2014 11:06:43 AM

I remember your conviction that POG would hit $1174 well today we are $1192 and looking lower. I didn't expect it but here we are

[Ms. Baby Boomer] Gold rallies on word of authorized U.S. airstrikes in Iraq... Jumps $5 after O...

Ms. Baby Boomer — 8/8/2014 10:26:10 AM

Gold rallies on word of authorized U.S. airstrikes in
Iraq...

Jumps $5 after Obama announcement

LOS ANGELES (MarketWatch) — President Barack Obama on Thursday evening blew a kiss to gold bugs by saying that he has authorized air strikes in northern Iraq. The announcement sent shivers through equity markets and helped to push gold prices higher...

marketwatch.com

Have a nice weekend....

[Ms. Baby Boomer] Central Banks in Russia to Kazakhstan Boost Gold Reserves... Central banks for...

Ms. Baby Boomer — 7/26/2014 9:38:05 PM

Central Banks in Russia to Kazakhstan Boost Gold Reserves...

Central banks for Russia to Kazakhstan and Mexico increased gold reserves as Germany trimmed its holdings, International Monetary Fund data show.

Kyrgyzstan, Tajikistan, Serbia, Greece and Equador also showed higher gold reserves for June, according to figures published today on the IMF website. Central banks had lowered world gold reserves for a second month by May to 1.022 billion troy ounces, IMF data show.

Gold advanced the most in four months in June as fighting in Ukraine to Iraq and Israel boosted demand for a haven. Hedge funds almost doubled net-long position in gold during June, U.S. Commodity Futures Trading Commission data show.

Russia increased its gold holdings, the world’s sixth-biggest, to 35.197 million ounces in June from 34.656 million ounces in May the IMF data show. The country is locked in its worst political crisis with the U.S. and its allies since the end of the Cold War after its annexation of Crimea this year and as western countries blame it for support of separatist rebels in eastern Ukraine.

Russia’s foreign reserves fell $39 billion to $472 billion in June, data from the central bank show. Gold accounts for 9.3 percent of the country’s reserves, according to the World Gold Council.

Turkey increased its holdings to 16.491 million ounces from 16.172 million ounces in May as it accepts gold in its reserve requirements from commercial banks, the IMF data show. The country ranks 13th largest by gold reserves, according to the gold council.

Germany, the second-biggest gold holder, lowered its holdings to 108.805 million ounces from 108.806 million ounces, the data show. Central bank goldings for China, the world’s biggest consumer, haven’t been updated since March at 33.89 million ounces.

After 12 straight years of gains, gold tumbled 28 percent in 2013 as an equity rally prompted some investors to lose faith in the metal. Bullion rose 6.2 percent in June, the most since February, and climbed 8.8 percent this year to $1,307.22 an ounce in London....

bloomberg.com

Note: Had craving for egg mcmuffin and senior java @ McDonalds during the week...

The man is pain in the sraka, and Obama doesn't know how to deal with him imho....

[NOW] yesterday COULD have completed the downside, but something tells me otherwise

NOW — 7/25/2014 1:08:29 PM

[Nihontochicken] No targets, just looking at trend changes, mostly as related to Bollinger bands.

Nihontochicken — 7/25/2014 1:06:53 PM

[NOW] what are your downside targets then?

NOW — 7/24/2014 12:53:37 PM

[Nihontochicken] Not yet: stockcharts.com stockcharts.com

Nihontochicken — 7/24/2014 10:43:52 AM

[TheSlowLane] On account a they done a-whuppin' on it? ;^)

TheSlowLane — 7/22/2014 4:50:06 AM

[Ms. Baby Boomer] The worst for gold may be over: Bank of America Merrill Lynch.... blogs.marketw...

Ms. Baby Boomer — 7/21/2014 6:02:24 PM

The worst for gold may be over: Bank
of America Merrill Lynch....

blogs.marketwatch.com

[Ms. Baby Boomer] Bot more EGO... Have a nice weekend....

Ms. Baby Boomer — 7/18/2014 11:51:39 AM

[Ms. Baby Boomer] Credit Suisse’s Top Gold Stocks to Buy... Eldorado Gold Corp. ( EGO) is another...

Ms. Baby Boomer — 7/18/2014 11:28:01 AM

Credit Suisse’s Top Gold
Stocks to Buy...

Eldorado Gold Corp. ( EGO) is another of the top picks at Credit Suisse. The company engages in the exploration, development, mining and production of gold properties in Turkey, China, Greece, Brazil and Romania. The company also explores for iron, silver, lead, zinc and copper ores.

The Credit Suisse analysts point out that the company is a consistent, low-cost operator with solid valuation upside to its net asset value. They also cite upside potential could be tied to pending permits in Greece and China. Eldorado Gold investors are paid a small 0.3% dividend. Credit Suisse raises its price target to $10 from $9, while the consensus target is $8.65. Shares closed Thursday at $7.55....

finance.yahoo.com

[Ms. Baby Boomer] Gold stock rally ‘foreshadows a trend’ for the metal Commentary: Mining stocks ...

Ms. Baby Boomer — 7/12/2014 4:54:45 PM

Gold stock rally ‘foreshadows a trend’ for the
metal

Commentary: Mining stocks point to gains for gold prices....

marketwatch.com

[Jim McMannis] Thank you.

Jim McMannis — 7/7/2014 8:29:29 PM

[khill] The link provided is incorrect. Should be metastock.com

khill — 6/25/2014 9:27:52 AM

[Ms. Baby Boomer] Gold Trades Below Two-Month High as Fed, Demand Weighed... Bullish Bets Holdi...

Ms. Baby Boomer — 6/23/2014 3:01:53 PM

Gold Trades Below Two-Month High as Fed,
Demand Weighed...

Bullish Bets

Holdings in gold-backed exchange-traded products fell to 1,712.9 metric tons on June 20, the lowest since October 2009, data compiled by Bloomberg show. Hedge funds and other money managers increased their net-long position, or bullish bets, by 30 percent in the week to June 17, the biggest gain since February, U.S. Commodity Futures Trading Commission data show....

businessweek.com

[Ms. Baby Boomer] Gold prices rise as clashes erupt in Ukraine Gold prices rise as clashes erupt ...

Ms. Baby Boomer — 5/2/2014 8:54:09 PM

Gold prices rise as clashes erupt in Ukraine

Gold prices rise as clashes erupt in Ukraine between the government and separatists...

Gold prices surged Friday as tensions mounted in Ukraine.

Gold for June delivery climbed $19.50 to settle at $1,302.90 an ounce. Silver for July jumped 50 cents to $19.55 an ounce.

Early Friday, the Ukrainian government launched what appeared to be its first major offensive to regain control of an area held by pro-Russian separatists.

Gold prices surged following reports of clashes. Prices had dropped earlier in the day after the U.S. government said employers added 288,000 workers to their payrolls in April, the most in two years and more than economists had forecast.

Traders often buy gold in anticipation of a crisis. In March, gold prices reached their highest level this year as tensions in Ukraine began to rise....

finance.yahoo.com

[Tommaso] seekingalpha.com

Tommaso — 5/2/2014 3:12:16 PM

[Ms. Baby Boomer] Eldorado Gold Corporation: 2014 First Quarter Financial and Operating Results......

Ms. Baby Boomer — 5/1/2014 5:44:31 PM

Eldorado Gold Corporation: 2014 First
Quarter Financial and Operating Results...

Gold production of 196,523 ounces, All-In Sustaining Costs of $786 per ounce

VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 1, 2014) - Eldorado Gold Corporation (Eldorado or the Company) ( ELD.TO)( EGO) is pleased to report the Company's financial and operational results for the first quarter ended March 31, 2014. Net profit attributable to shareholders of the Company for the quarter was $31.3 million or $0.04 per share.

"The first quarter of 2014 proved to be another strong quarter for the Company, with gold production of 196,523 ounces, representing a 20 percent increase over the first quarter 2013," said Paul Wright, Chief Executive Officer of Eldorado Gold. "Within the organization our employees are dedicated to continuously improving safety, operational performance and overall cost reductions, enabling Eldorado to remain one of the lowest cost gold producers, as demonstrated by our all-in sustaining cash costs for the quarter of $786 per ounce. Strong performance this quarter supports our guidance for 2014 of 730,000-800,000 ounces of gold at an average all-in sustaining cash cost of approximately $950 per ounce."....

Cont'd @ finance.yahoo.com

[Greg from Edmonton] Notes from another Jim Sinclair meeting (Austin): tfmetalsreport.com In a follo...

Greg from Edmonton — 5/1/2014 12:02:08 AM

Notes from another Jim Sinclair meeting (Austin):
tfmetalsreport.com

In a follow-up to Silver66 excellent summary of the most recent meeting Jim Sinclair had in Toronto i thought it might interest the community a summary of Jim's Austin Texas conference.This was posted at lemetropolecafe.com ( subscription based). Comparing the two sets of notes is ...well..exhilirating in my humble opinion.

Jim Sinclair is continuing his seminars all over the country, the latest just in Toronto. This is a review on some of his comments on February 7th of this year in Austin. Thought it might be fun to keep track of how what Jim had to say pans out.

The price of gold at the time was $1263 and silver was $19.92. Jim…

*The amount of the notional value of over the counter derivatives out there is a quadrillion, X amount of trillion. It is staggering (think about the vig on that amount of money). It is to the super benefit of less than 100 people who are the super duper rich who could care less about anyone else except their growing financial assets and power. They are skimming the financial market system like bookies. Anyone who needs to be thrown under the bus will be. Lehman was an example of a firm out of favor and was thrown under that bus. Jim said they were "flushed."

Jim mentioned Enron as a derivatives operation gone bad.

*There is no way tapering is going to continue. All is not well out there in America. The rich are doing just fine, aided by our stock market, but the average person is suffering due to real inflation. He lauded John Williams and his Shadow Stat efforts as to the real inflation deal in the US.

The liberal Janet Yellen, new Fed head, will soon be on the pump routine again. This was emphasized.

*The US used to be a singular power. It didn’t matter so much about the finances of the rest of the world. No more. If the Emerging Markets blow up, we are going to have serious problems ourselves. It is all synergistic these days.

*The Good Old Boy Bankster Club is for real.

"Something is afoot in the gold market." Jim constantly brought up the unusual triple bottom in place, one that will not be broken. It was clear to him, AS WELL AS US, that The Gold Cartel (my term) is losing traction on the downside. His analysis of the gold market in that regard is exactly as the one here.

The market has bottomed and on its way up again with much more volatility in store for the price action. $1650 is his next target. His thinking is "the banksters" are getting long for the next move up, like they did in the 70’s. I asked him privately who was going to be short if they get long and the specs get long as the technicals continue to improve? He said there will be no offers at some points and the price will soar. His timetable for this was August or before.

*The latest market manipulation shenanigans are by the "late to the party" crowd. My term for what Jim said was the second or third team players.

*Here is one of the surprises. He is most bullish on silver in the short term. It will be more volatile than gold and lead the way up. Down the road, there will be a new monetary gold issue (as in reset) that will mandate getting out of silver and into gold. Gold is still his main focus and the place to be, but he elevated silver’s investment status.

*As a former clearinghouse member, he knows what that is all about. We all have to be careful where our investments are. One of his main topics was the potential for coming bail-ins. One day you have your money safely in a bank and the next day a percentage will be gone. His emphasis is that the groundwork has been done to make this a reality in the not too distant future as the banking system begins to fail.

Bail-ins are on the table for 2014! Be careful about being an unsecured creditor to your bank. The ones most at risk will be the depositors at the banks who have already been bailed out.

*There will not be a Comex default. They will go to cash settlement, which is a de facto default. The growing shortage of physical gold is going to make itself felt in the not too distant future.

*The market manipulators counted on physical gold being disgorged from the ETFs. It worked. They did not count on China going bonkers with their buying and has fouled up their plans.

*One of his themes was about morality and doing the right thing. The people running the show these days don’t have any. All they care about is money and more money. Everyone else can go to heck. When our system begins to collapse, he said he wouldn’t want to own one of those mansions in Greenwich, Conn … many owned by the hedge fund elites. He thinks they will become targets.

*When Yellin is forced to go pedal to the metal again, the stock market is going to go up, not down. But gold will be the real winner here.

*Jim had nothing good to say about the gold mining executives, who are doing nothing to help the industry. One of his focuses was on their spending too much money using very expensive technology techniques to aid their mining, which have raised their costs so much that they can’t make any money at these prices today. He felt that gold shareholders were the best in the world and the management was the worst.

*He saluted GATA for our efforts and asked me to stand up to be recognized.

*There will be a great "reset" down the road when the physical price of gold breaks totally free from the paper market. A $50,000 gold price is conceivable. Perhaps in 2020. He cited a former Goldman Sachs economist who has come up with that number.

*He is super bullish on the euro and VERY dollar bearish. His target: a .56 dollar. The dollar chart, which topped out at 125, is SO BEARISH that many won’t even print it. Jim said the Europeans have done some things in an attempt to correct their ills. We have done "nothing."

*$3500 gold is his next target after $1650.

*Another first for Jim. The Germany gold situation has him convinced the US has little or no gold left. There needs to be an independent audit on our gold. Not going to happen because of what they won’t find.

*The gold price suppression scheme is finally on its way out. Their power is exhausted. The price action Friday was a perfect example of that. They ATTACKED, got nowhere, and then the price crept back up.

*He had high praise via several comments about the Sprott ETF, etc.

*The silver volatility will exceed gold. It is for the "brave and righteous." Silver will be "gold on steroids."

*The gold bear cycle is over after "double bottom."
*Silver will lead the way up.
*Gold will have its WOW days this year.
*Buy the miners.
*This will be a 3 ½ yr bull move. It is a half year old so far, so we have three years left.

[Ms. Baby Boomer] The Zacks Analyst Blog Highlights: Starbucks, Agnico Eagle Mines, Yamana Gold, ...

Ms. Baby Boomer — 4/29/2014 10:57:59 AM

The Zacks Analyst Blog Highlights: Starbucks,
Agnico Eagle Mines, Yamana Gold, Eldorado
Gold and Kinross Gold...

Eldorado Gold Corp. ( EGO- Free Report)

Headquartered in Vancouver, Canada Eldorado Gold is engaged in the exploration, discovery, development, production, and reclamation of gold properties in Brazil, China, Greece, Turkey, and Romania.

This Zacks Rank #3 stock has delivered a year-to-date return of 4.81%, also outperforming the S&P 500 return of 2.08%. The company with a market capitalization of $4.26 billion has an impressive long-term expected earnings growth rate of 19.80%. The Zacks Consensus Estimate for the first quarter is pegged at 5 cents with an Earnings ESP of +20.00%.

Eldorado Gold will benefit from cost-reduction initiatives and the deployment of capital resources for development projects that are expected to deliver near-term cash flows. This gold producer recently announced that it expects its Deva Gold SA Certej project in Romania to produce 135,000 ounces of gold and 800,000 ounces of silver per year. Eldorado Gold believes it can exploit other resources in the region and use Certej as a platform to build up more businesses in Romania and Eastern Europe.

- Eldorado Gold Corp will report its first-quarter results after the market closes on May 1....

finance.yahoo.com

[Greg from Edmonton] Interesting podcast, worth a listen: mcalvanyweeklycommentary.com Transcript av...

Greg from Edmonton — 4/29/2014 9:51:08 AM

Interesting podcast, worth a listen:
mcalvanyweeklycommentary.com

Transcript available here:
mcalvanyweeklycommentary.com

[Greg from Edmonton] Jim Sinclair Toronto Meeting Notes copied from silver66 here: tfmetalsreport.co...

Greg from Edmonton — 4/29/2014 9:27:06 AM

Jim Sinclair Toronto Meeting Notes

copied from silver66 here:
tfmetalsreport.com

April 26 Meeting notes with Jim Sinclair

Here is a summary of my notes from the meeting, it is not exhaustive or even a representation of what was said, rather it is what I heard and chose to write down.

I attended Jim’s first roadshow in Toronto last year, this was an opportunity to hear his wisdom again and for me to compare his message to see if there were changes to his outlook. A fellow stacker that attended did so to get a feel of Jim as a man. He wanted to compare what he reads on his website to him the man. He was very impressed with Jim.

The facilities were more moderate than last meeting (this is neither good nor bad, it is tough to top the Royal York). I would guess there were 170-200 people there, predominantly male and based on the cars in the parking lot, affluent. The crowd at his first meeting was older than this crowd. It appeared to be more in the 35-50 age group range.

Jim’s team provided each attendee with attendee with a list of what he considered to be valuable resources, he also had Bo Polny in attendance and Mr. Polny joined him on stage for the Q&A

Jim started off with a 20 minute monologue/speech covering many topics, then answered some pre-sent e-mail questions. We had a break then 3 hours or so of Q&A

I am going to make most of my observations into bullet points

Jim started off with this statement

Nothing has changed in 2 yrs regarding the OTC derivative market, OTC derivative market has grown. The regulators live in fantasy world for letting them Mark value to Maturity. This is not going to happenWhen businesses are a going concern the bets (Jim is adamant that derivatives are just casino bets) are notional. They become real value ( fully valued ) when a firm goes bankrupt.BIS and IMF situation is bad for the OTC Derivatives (? Not sure why I wrote this down) Jim must have had a seniors moment because he said Christine Legarde was a good looking lady, I damn near spit my coffee out on that statement, but I guess we all have our own crosses to bear…J2015-2017 (June) is the time frame for the great leveling. I will add more latter on his thoughts on thisInflation is growth of monetary aggregatesDeflation is death of debtVelocity of money is the speed a dollar turns overCessation of the petro-dollar. The POS index is firm right now, even though this is artificial. &^ on the POS is dangerous and Jim believes that the POS will go to 56 just not tomorrowHe had high praise for Charles Nenner—Charles expects a significant reversal of the last two years in PM’s. The dollar will enter a bear phase and a topping of markets.Jim spent a fair amount of time on inflation. He was adamant that we not fall for the assumption of no inflation and that Central Bankers and Politicians do not understand “currency induced cost push inflation”Thoughts on Gold and Silver

Jim thinks you should own some…. J

-Silver will break out first in the next move in gold. He expects that move to be significant. Silver is for trading. It will be exciting. His stack is 75% in PM’s gold and of that 75% 25% is Silver and 75% is gold

-Goldman just gave the producers a buy recommendation, wonder why that is? Having the right juniors will be turbo charging your portfolio

-Jim thinks this period we have been in is uncannily like 73-76 in the last gold bull market

-Gold silver ratio going to be back at historical 10:1 in 2020. However is short term it will probably get to 30:1 and that would be a good time to convert silver holdings to gold

-Bear market in PM’s is behind us and Bull market is ahead of us

Bo made comment that potentially this week (May 1st we could see start of explosive move) based on his cycles and chart work

Bail In

-Based on 1845 British Law, you are a unsecured lender when you deposit money to the bank or brokerage

-Euroland has decided that 8% of banks losses are to be born by the unsecured creditor. Look to how much derivatives the bank has and take 8%, if their capital is not at least that much, then the depositor gets to share in the pain L

-Jim made a gracious offer that if you e-mailed him he would send a list of banks that took aid in the crisis.

-Jim strongly encouraged people to do business with local credit unions

-2020 is the finish line, Jim thinks the progression for bail ins is Euro, US then Canada.

-Brokerage firms can be subject to bail ins

GOTS (get out of the system)

Jim offered anyone that e-mailed him that he would send them a step-by-step list of how to get your stocks into direct registration

Many of the questions were from people with RSP’s in Canada. For Turdites from around the world these are Registered Saving Plans for retirement. The government allows you to deduct your investment that you put into the RSP and it grows tax sheltered. It is however held by a trustee and as such you can not have direct registration of the securities in the plan. This caused much gnashing of teeth and grumbling when people realized that if they want to GOTS then they would have to deregister the money and pay the tax

BRICS

-BRICS are the wild card.

-The old money families (Rothschild’s and Rockefellers) have controlled things unchallenged since the 1800’s. The BRICS are their first real challenge and the outcome is unknown

-Gold is coming back into the system but does not feel that the currency will be gold backed, just the ultimate judge

-When asked about a one world currency he feels the BRICS have prevented that.

My question was

Q The Euro marks its gold reserves to market each quarter and the USA still carries it gold on the books at $42.22 (assuming it is still there). Will the USA ever mark its gold to market?

A yes and it does not matter if it is there or not. They will mark what they say is there to market

A follow up comment by Jim, take the central banks around the world that market to market and color those countries on a map with a gold pencil and it will be about half. The trend is more moving to mark to market

- Be your own central banker

-The BEAR is awakening, pay attention

THIS and THAT (not sure where to put these ideas)

Bo Polny

-Sequence of events

*** Cycles are there and events must occur to complete the cycle***

the reason cycles are there is people do not change, we do not learn and that is why history repeatsGreat Leveling

-Implosion of general equity market (late 2014-to end of 2015)

-Commodities lower

-Roll over in banks

-Significant bankruptcies

DOW/ Gold ratio will move to .75:1 that will be the time to exit gold and buy other assets

Federal Reserve websites have very good info for teaching children about money and currency

TNX- is pleased with the progress, marching to production, cash in bank

Silver66’s closing thoughts

Jim was more focused on cycles of markets than last meeting. He is passionate about protecting your purchasing power from erosion due to inflation. Gold and Silver are the way to do that. Buy till it hurts with the caveat that you must make the level of your ownership commiserate with your understanding and comfort level.

Jim is a gentleman and it was a pleasure to spend 5 hours with him

Hope these notes were of value

Stack till it hurts

Silver66

[Ms. Baby Boomer] CME plans to launch physically settled Asia gold futures-sources... finance.yah...

Ms. Baby Boomer — 4/24/2014 10:10:51 AM

CME plans to launch physically
settled Asia gold futures-sources...

finance.yahoo.com

Interesting morning... Oops... Catch....

[Ms. Baby Boomer] E-trading pulls gold into forex units as commodity desks shrink... * Banks retr...

Ms. Baby Boomer — 4/22/2014 2:36:41 PM

E-trading pulls gold into forex units as
commodity desks shrink...

* Banks retreat from commodities operations

* Gold and forex similarities aid consolidation

* Automation set to displace traditional bullion traders

By Clara Denina and Jan Harvey

LONDON, April 23 (Reuters) - The increasing use of technology on financial trading floors is driving a trend for banks to roll precious metals operations into their forex businesses as a separate unit from other commodities activities.

Barclays on Tuesday followed similar moves by rivals Deutsche Bank, UBS, JPMorgan Chase & Co and Morgan Stanley by announcing that it would keep its gold trading business while hiving off most of its global commodities operations.

The consolidation of interbank gold dealing and foreign exchange trading on electronic platforms is making it increasingly easy for forex traders to execute precious metals deals, allowing banks to ease cost pressures by moving the asset classes into a single business unit.

"If you were to look at the size of the banks' trading teams in foreign exchange (compared with) ten years ago, they are a shadow of their former selves," one former banker said.

"The machines have taken over ... If you have gold, there is no reason at all why you wouldn't include that as another currency pair."

The uptake in electronic trading in the past few years has been a key tool in banks' efforts to reduce costs and increase efficiency.

Barclays added part of its precious metals trading to the BARX FX platform in late 2012, citing the cost-effectiveness of electronic trading.

With regulatory scrutiny showing no signs of abating and cost pressures on banks still elevated, industry sources said that more institutions may drop out of commodities and stream gold alongside forex platforms.

SEA CHANGE

"We have to face (the fact that) the market has changed and we have to make lower the cost of trading gold," Societe Generale analyst Robin Bhar said. "(Banks) can do that by cutting headcount and transferring trade to electronic platforms."

As global regulators press for greater market transparency, banks have been required to move some of their over-the-counter derivatives trading to electronic platforms where possible.

"There is a sea change going on because of regulation, squeeze on capital, reputational risks. Banks don't want to do certain things anymore, while what's left tends to be more computerised," said Niki Beattie, CEO of consultancy Market Structure Partners.

"Where you saw banks paying a huge amount of trading and sales staff, (those) salaries could ultimately be going into technical support roles. That's what happened in equities a couple of years ago."

Trading gold alongside foreign exchange operations makes a lot of sense. The metal is often regarded as a dual asset, both a commodity and a store of value. Prices tend to be more sensitive to factors such as U.S. interest rate policy, inflation expectations and forex rates than the supply and demand flows that exert a heavy influence on commodities such as oil or industrial metals.

Gold is a highly liquid asset class, with daily trading volumes comparable to some currency pairs, while its volatility is more in line with foreign currencies, analysts said.

PRODUCT PACKAGE

The client base is also different to that for other commodities. For instance, banks that serve central banking customers with large bullion reserves to manage will have a greater need to offer gold trading and storage services.

"Banks still want to have a complete institutional product offering, so as a result they need to retain precious metals as part of their product family," said George Kuznetsov, of analytics firm Coalition.

"Banks have been struggling with capital, so they've been much more selective in terms of the products they're betting on for the future," he said. "Commodities come with a big question mark."

Coalition estimates that total commodity trading revenue at the top 10 investment banks fell to $4.5 billion last year, less than a third of the $14.1 billion they racked up in 2008 at the height of the commodities boom.

Back then, a full-service bank would have been expected to offer a full commodities service. That is no longer the case, bankers say.

"After Deutsche pulled out, it's easier for Barclays to pull out, and it'll be easier for whoever else wants to pull out next," one commodities market source said.

"It seems the floodgates are open now. Once people were piling into the market because they felt they had to be in commodities. Now they're piling out of it again." (Editing by Veronica Brown and David Goodman)....

finance.yahoo.com

[Ms. Baby Boomer] China Gold Demand Rising 25% by 2017 as Buyers Get Wealthier... Gold demand in ...

Ms. Baby Boomer — 4/15/2014 10:52:04 AM

China Gold Demand Rising 25% by
2017 as Buyers Get Wealthier...

Gold demand in China, which overtook India as the largest user last year, will rise about 25 percent in the next four years as an increasing population gets wealthier, according to the World Gold Council. Consumer demand will expand to at least 1,350 metric tons by 2017, the London-based council said in a report today. Growth may be limited this year after 2013’s price decline spurred consumers to do more buying last year, it said. China accounted for about 28 percent of global usage last year, the council estimated in February.

Buying accelerated last year as prices slumped 28 percent, the most since 1981, and the nation became the top buyer in place of India, where import restrictions curbed demand. China’s economy will expand 7.4 percent this year, economists surveyed by Bloomberg estimate. While that’s set to be the least since 1990, it’s still more than double expected growth in the U.S.

“Whilst China faces important challenges as it seeks to sustain economic growth and liberalize its financial system, growth in personal incomes and the public’s pool of savings should support a medium-term increase in the demand for gold, in both jewelry and investment,” Albert Cheng, Far East managing director at the council, said in a statement accompanying the report.

Gold for immediate delivery climbed 10 percent to $1,320.33 an ounce this year by 6:39 a.m. in London, according to Bloomberg generic pricing. The metal slipped to an almost three-year low of $1,180.57 in June, extending a drop from a record $1,921.17 set in September 2011.

Gold Financing By the end of 2013, about 1,000 tons of gold may be tied up in financing deals in China, in which commodities including copper are used as collateral for credit amid restrictions on lending, said the council. Most of the metal locked up in such deals have been built up since 2011, it said.

China has 170 cities that have at least 1 million inhabitants each, and the middle class will expand more than 60 percent to 500 million in the next six years, according to the report. About $7.5 trillion is held in bank accounts and household allocations to gold remain “small” at about $300 billion, it said.

The nation’s consumer gold demand increased 32 percent to 1,065.8 tons last year, the producer-funded organization said in February. Jewelry purchases of almost 669 tons accounted for 30 percent of the global total and will reach 780 tons by 2017, according to today’s report. Annual bar and coin demand could near 500 tons by 2017, 25 percent above last year’s record.

Bullion Reserves China’s gold reserves total 1,054.1 tons, making it the fifth-biggest holder by country, according to the council. Bullion accounts for about 1.2 percent of its total reserves, compared with about 70 percent for the U.S. and Germany, the largest owners.

China’s government lifted a ban on bullion trading and opened the Shanghai Gold Exchange in 2002. Huaan Asset Management Co. and Guotai Asset Management Co. won state approval last year to list the country’s first gold-backed exchange-traded products.

“We have witnessed astonishing increases in demand for gold from consumers across the country,” Cheng said. “The cultural affinity for gold runs deep in China and when this is combined with an increasingly affluent population and a supportive government, there is significant room for the market to grow even further.”....

bloomberg.com

[Ms. Baby Boomer] Gold Trades Below Two-Week High as China Weighed Vs Fed... “You’ll see support ...

Ms. Baby Boomer — 4/11/2014 10:34:07 AM

Gold Trades Below Two-Week High
as China Weighed Vs Fed...

“You’ll see support for the gold price if the U.S. aren’t going to lift interest rates in the short-term as aggressively as people expected and there’s still anxiety between Russia and Ukraine,” Tom Price, an analyst at UBS AG, said in a Bloomberg Television interview from Sydney...

bloomberg.com

Remember... Don't put all Ur Ukrainian Easter eggs in one basket...

Have a nice weekend....

[Ms. Baby Boomer] PRECIOUS-Gold at 2-1/2-week high after Fed minutes ease rate fears.... reuters....

Ms. Baby Boomer — 4/10/2014 11:35:10 AM

PRECIOUS-Gold at 2-1/2-week high
after Fed minutes ease rate fears....

reuters.com

[mary-ally-smith] IAMGOLD lowered by Morgan Stanley MStanley

mary-ally-smith — 4/9/2014 1:09:11 PM

[Ms. Baby Boomer] InPlay: 7:02 am IAMGOLD provided update on advanced exploration projects maide...

Ms. Baby Boomer — 4/9/2014 11:24:55 AM

InPlay: 7:02 am IAMGOLD provided update on advanced exploration projects maiden resource estimate - Pitangui project, Brazil diamond drilling results - Boto Gold project, Senegal; maiden mineral resource estimate has been completed ( IAG) :

Co provided an update from ongoing exploration activities at the Pitangui project in Minas Gerais State, Brazil and the Boto Gold project in Senegal. Drilling programs are currently underway at both sites with the objective to delineate and expand current mineral resources in alignment with the co's strategic mandate for organic growth.

A maiden mineral resource estimate has been completed in accordance with National Instrument 43-101 for the Company's 100%-owned Pitangui gold project located approximately 110 kilometres northwest of Belo Horizonte, the capital city of Minas Gerais State, Brazil. The mineral resource incorporates assay results available up to December 6, 2013 from 57 diamond drill holes totalling 19,600 metres, and was completed by SRK Consulting. The mineral resource estimate, based on an underground mining scenario, comprises an Inferred Resource of 4.07 million tonnes grading 4.88 grams of gold per tonne for 0.64 million contained ounces, at a cut-off grade of 3.0 grams of gold per tonne.

(Source: Briefing.com)

$GOLD back above 200 dma...

Games People Play....

[Ms. Baby Boomer] Certej Project Update: Release of NI-43-101 Technical Report.... finance.yahoo....

Ms. Baby Boomer — 4/8/2014 12:27:03 PM

Certej Project Update: Release of NI-43-101
Technical Report....

finance.yahoo.com

[Ms. Baby Boomer] PRECIOUS-Gold rises over 1 pct on short-covering after U.S. payroll data... re...

Ms. Baby Boomer — 4/4/2014 5:51:21 PM

PRECIOUS-Gold rises over 1 pct on
short-covering after U.S. payroll data...

reuters.com

Have a nice weekend....