The Sell-Off In Gold Has Become Plain Silly [View article]
Overall great post. There's nothing wrong with playing the manipulated gold market - as you understand that it's manipulated and, based on that, understand how to play it. The first key is to always leave room to add on on manipulated hits and don't use leverage.
Actually, the simplest strategy is what James Turk has been advocating since 2001: Buy a little every month no matter what the price is.
Sinclair doesn't talk about this anymore but "sell 'rhino horns' and buy 'fishing lines'" - in terms of trading the chart.
The one thing we do know is that a market that is artificially propped up or contained - i.e. stocks and gold - can not stay manipulated successfully over time. History has already spoken and set the law on that.
The Sell-Off In Gold Has Become Plain Silly [View article]
I have an article saved on my other computer. If I remember, I'll link it here when I get home. If you read that article, in conjunction with BIS quarterly reports, plus read thru how the BIS now allows CB's to account for gold, plus look at how the Fed vs. the ECB System accounts for gold, you'll understand just how corrupted the western Central Banking system is with respect to gold. Yes the BIS is the brain and nervous system of the whole thing.
You are also right, people who bash the idea the gold is manipulated have never investigated the facts and are too stupid to accept the fact that Governments are completely corrupt.
To QE Or Not To QE: That Is The Question [View article]
Can you email me a link to that letter. I saw his comments on KWN yesterday. The Fed engineered the latest smash and I'm sure they knew the hedge fund HFT black boxes would do the heavy lifting once the Fed got the ball rolling.
To QE Or Not To QE: That Is The Question [View article]
Jason, the Fed is in the market several times a week buying Treasuries and mortgages. Freddie Mac announced it is going to float paper unbacked by the Govt. There's no way foreign buyers will buy that paper after they got reamed on FNM/FRE subprime garbage the first time around. That paper will be bought only by pension funds who are forced to reach for yield plus the Fed.
The fact that it will be unbacked paper tells me it will be subprime garbage.
Silver Mine Production Surges, Boosted By 17% Increase In U.S. Output [View article]
I find those numbers hard to believe, especially with Hecla's Lucky Friday mine just now ramping back up into production.
I'd love to see the source data for that February number.
Jason is right, the Kennecott Utah mine will take a big whack out of total U.S. mine production this year. It was doing about 5mm ozs/yr and Tiffany's was contracted to take 50% of that.
Update On Gold: Is This The Bottom? [View article]
First, in terms of leased gold "reverting" back to it's lessor, that's debatable. It's an easy maneuver if the end-buyer of the gold never asks for delivery. But, as I do believe is happening en masse right now, legal owners of gold are asking for delivery out of the LBMA and Comex vaults.
As for the Comex dealing in actual gold, that's only sort of true. Right now the total open interest in futures represents 44.6 million ozs of gold. There's only 1.86 mm ozs of "registered"/deliverable gold. That's 24x more paper gold than real gold. That ratio has gone up by about 12% since I did the calculation last week.
The next front month is June and there's 23.6mm ozs of open interest. That's 12.7x more paper gold than deliverable gold. That ratio has gone up 10% since last week.
IF just 8% of the June longs decide to stand for delivery, the Comex defaults.
Update On Gold: Is This The Bottom? [View article]
Ya I'm very familiar with FOFOA. I'd love to know who the real "Another" is/was.
He's thinking $55k in a reset. I've said since about 2006 that the reset price would be at least $35k - or $35k in dollar equivalent, because a reset would mean the dollar is no longer valid as a currency. I came to my view before I ever had heard of Another/FOFOA.
One way to calculate it would be to make assumption of the global monetary stock at the time of the reset and assume that the "Resetters" will set a level for the price of gold that would create at least a 40% bona fide gold backing for the amount of currency outstanding. There are ways to benchmark a reset price, that one makes the most sense me.
The Sell-Off In Gold Has Become Plain Silly [View article]
The Sell-Off In Gold Has Become Plain Silly [View article]
Actually, the simplest strategy is what James Turk has been advocating since 2001: Buy a little every month no matter what the price is.
Sinclair doesn't talk about this anymore but "sell 'rhino horns' and buy 'fishing lines'" - in terms of trading the chart.
The one thing we do know is that a market that is artificially propped up or contained - i.e. stocks and gold - can not stay manipulated successfully over time. History has already spoken and set the law on that.
The Sell-Off In Gold Has Become Plain Silly [View article]
You are also right, people who bash the idea the gold is manipulated have never investigated the facts and are too stupid to accept the fact that Governments are completely corrupt.
To QE Or Not To QE: That Is The Question [View article]
To QE Or Not To QE: That Is The Question [View article]
I like McEwen's take on the miners: http://bit.ly/12t05gv
To QE Or Not To QE: That Is The Question [View article]
The fact that it will be unbacked paper tells me it will be subprime garbage.
To QE Or Not To QE: That Is The Question [View article]
Silver Mine Production Surges, Boosted By 17% Increase In U.S. Output [View article]
I'd love to see the source data for that February number.
Jason is right, the Kennecott Utah mine will take a big whack out of total U.S. mine production this year. It was doing about 5mm ozs/yr and Tiffany's was contracted to take 50% of that.
Update On Gold: Is This The Bottom? [View article]
As for the Comex dealing in actual gold, that's only sort of true. Right now the total open interest in futures represents 44.6 million ozs of gold. There's only 1.86 mm ozs of "registered"/deliverable gold. That's 24x more paper gold than real gold. That ratio has gone up by about 12% since I did the calculation last week.
The next front month is June and there's 23.6mm ozs of open interest. That's 12.7x more paper gold than deliverable gold. That ratio has gone up 10% since last week.
IF just 8% of the June longs decide to stand for delivery, the Comex defaults.
Update On Gold: Is This The Bottom? [View article]
Update On Gold: Is This The Bottom? [View article]
He's thinking $55k in a reset. I've said since about 2006 that the reset price would be at least $35k - or $35k in dollar equivalent, because a reset would mean the dollar is no longer valid as a currency. I came to my view before I ever had heard of Another/FOFOA.
One way to calculate it would be to make assumption of the global monetary stock at the time of the reset and assume that the "Resetters" will set a level for the price of gold that would create at least a 40% bona fide gold backing for the amount of currency outstanding. There are ways to benchmark a reset price, that one makes the most sense me.
Update On Gold: Is This The Bottom? [View article]
Update On Gold: Is This The Bottom? [View article]
Update On Gold: Is This The Bottom? [View article]
Update On Gold: Is This The Bottom? [View article]