GOLD

[narco]

Nice low of $965. Lets see if we get a monster V or if this is the correction.

[Billy]

Maybe you could get the WM here to lift the thread from HPC and plonk it on here

 

 

That's a great idea because the way it's going over there those spiteful ignorant bar stewards will proabably 'accidentally' delete it.

 

I've seen this sort of thing happen too many times on other forums - and I've also seen mods panic and remove any and all farewell messages, block PMs, and remove all hints as to where all the brilliant posters have gone! Which is exactly what they've done.

 

Incidentally GF this also reminds me of the Axestone situation ref Kitco and goldismoney - Ax brought his entire thread with him and I think we should try and do the same, with the owner's permission here of course. After all it is OUR thread, not HPCs. We did all the posting and hard work, Smelly Tramp and Oldie did all the insulting and rudeness.

 

That thread has *years* of research and 9000+ unpaid posters thrown in Oldie's and Smelly Tramp's dustbin.

 

They've already locked the thread down as I semi predicted, so it is dead now.

 

As is the HPC issue itself.

 

Their site IMHO is now redundant, and will become increasingly so as their fascist moderation sinks further down the toilet.

[G0ldfinger]

Crude oil, silver & the EUR down. The EUR saw at some stage quite a jump upwards today, then the selling set in. I wonder what's behind it.

[G0ldfinger]

Nice low of $965. Lets see if we get a monster V or if this is the correction.

Approaching $960 now. Hmm, maybe I'll jump in soon. I have some cash left here, need to dump it somehow. Thought of mining stocks first, but now that this dip in bullion comes along...

[G0ldfinger]

That's a great idea because the way it's going over there those spiteful ignorant bar stewards will proabably 'accidentally' delete it.

 

I've seen this sort of thing happen too many times on other forums - and I've also seen mods panic and remove any and all farewell messages, block PMs, and remove all hints as to where all the brilliant posters have gone! Which is exactly what they've done.

...

I was quite astonished by this.

[Pluto]

Bernanke is due to speak at 2:30 new york time. Buckle today's gonna be a wild one!

[Billy]

Nice low of $965. Lets see if we get a monster V or if this is the correction.

 

 

Be good if it happens - I'm not concerned with this noise as I am long term and 100 fundamentals insist gold and silver are only going one way. This really is a waiting game. I'm just glad I took Jim Sinclair's advice and bought bullion only - recently took everything out of the Perth Mint too - see Jason Hommel's stories about one guy who had 10,000oz of allocated silver at the Perth Mint (paying over 1% a year for storage) and it took them over FIVE months to deliver! i.e. They didn't have it. I took mine out in 2-3 tranches and it was cock up after cock up with them, took an age - and I was unallocated - imagine what would happen in a meltdown or meltup situation! Imagine what would happen if the State in Oz defaults - yes it is AAA rated by Moodies but so was Nortrhern Wreck and a gazillion other titanics. Nope, have the real thing in your own immediate possession and of course take delivery of real share certificates!

[Billy]

Bernanke is due to speak at 2:30 new york time. Buckle today's gonna be a wild one!

 

 

AHA!!!

 

Hence the smackdown!

 

LOL, they are so predictable. Always a smackdown prior to and when the chimp in chief speaks too.

[Pluto]

AHA!!!

 

Hence the smackdown!

 

LOL, they are so predictable. Always a smackdown prior to and when the chimp in chief speaks too.

 

Bernanke might announce another rate cut this PM. That is why the smackdown. Citi bank looks like it is in DEEP DOO DOO. Even SWFs are balking at it now. Brace for impact..

[Billy]

from another forum poster

 

Rumor has it that Jim Cramer, the screecher on CNBC, has call for $1600/oz Gold. (hmmm, must have read Sinclair's lastest).

 

This guy, after years of screaming "COMMODITIES ARE DEAD", is finally waking up, and it took 20$ Ag and nearly 1000$ gold to shock him into reality.

 

Seems to me, the guy is a johnnie come lately. It always so "apparently" smart to make the call, after the rise.

 

 

 

 

shame

 

the herd tends to follow Cramer

 

wanted mor time to load up!!!

[Pluto]

from another forum poster

 

Rumor has it that Jim Cramer, the screecher on CNBC, has call for $1600/oz Gold. (hmmm, must have read Sinclair's lastest).

 

This guy, after years of screaming "COMMODITIES ARE DEAD", is finally waking up, and it took 20$ Ag and nearly 1000$ gold to shock him into reality.

 

Seems to me, the guy is a johnnie come lately. It always so "apparently" smart to make the call, after the rise.

 

 

 

 

shame

 

the herd tends to follow Cramer

 

wanted mor time to load up!!!

 

Cramer is a Goldman Sachs shill. He was sucking the masses into GOOG at 700. That man should be in a jail cell as Big Daddy's bitch.

[Billy]

Bernanke might announce another rate cut this PM. That is why the smackdown. Citi bank looks like it is in DEEP DOO DOO. Even SWFs are balking at it now. Brace for impact..

 

 

My next door nabe is a bond trader and he and his syndicate have just lost their jobs - reason being that they had all their money funnelled thru cictibank clearing and etc and citibank called them 4 days ago (fri) and withdrew all credit and froze all their loans. No money = no bond trading.

 

Guy is crapping himself because he earns a mill a year for basically doing swett FA and now needs to get a real job! I've tried to educate him ref metals but he won't listen - he is sharp and a genius at what he does/did, mixed with all the CEOs throughout the USA and Europe, but doesn't understand the basics - he has no clue about fractional reserve banking for a start, and he didn't see the sub-prime housing collapse coming and etc etc. Essentially brainwashed by the establishment schooling he went through and a permanently closed mind.

 

So city are in deep deep merde - this is a highly technical form of their banking, but what is going on in the specialised areas wil/has alreadyl filter down to the group as a whole - they are dead in the water.

[Billy]

Cramer is a Goldman Sachs shill. He was sucking the masses into GOOG at 700. That man should be in a jail cell as Big Daddy's bitch.

 

 

He is pure scum. Almost all his pump n dump ramped stocks go belly up. Saw some very specific evidence of this and it is amazing how bad his track record is. He is sending millions of Americans to the poor house right now.

 

Yes he needs to cuddle up to Bubba in Sing Sing for the next 30...

[tinecu]

Hi GF et al,

 

Great to have caught up with you lot. I think we'll have more fun here!

Quite a smackdown....

 

Cheers

 

Tinecu

[Billy]

from another forum

 

I haven't listened to the speech in full yet...

 

I wonder if X is Barrick??? i'm almost certain it is~!

 

 

 

 

 

JS has just made his first jsmineset post since his Toronto meeting. See below.

 

Notice how his post is silent about many of the concerns he talked about at the meeting; i.e. "period of extraordinary change" warnings, the so-called brilliant minds/"the X Corporation", their assumed game plan (Weimar hyperinflation revisited), and their identity. Could it be that one of the underlying reasons for his Toronto meeting was that he wished to "verbally" warn his extended GIGA family about his growing concerns, albeit in his usual conservative and understated way?

 

For example, in the first half of his talk he encourgaged people to research the Ahsanti/Anglo Gold court case and follow the money back to various interested corporations and one X Corporation in particular. Then, later during the wrap up Q&A session, he literally volunteered the name of mysterious "the X Corporation" without anyone really having to twist his arm.

 

Did anyone else here get the same impression from JS's talk? If so, then I guess we all should all take JS's warning and growing concerns on board.

 

Lastly, I'm completely ignorant about the Ahsanti and Anglo Gold case background. So, I would greatly appreciate it if someone can refer me to some good online information on the subject. Thanks.

 

 

 

 

 

--

 

http://www.jsmineset.com/

 

 

Dear CIGAs,

 

Having spoken to nearly 950 people for a total of six hours last Friday, I am still in the recovery phase. My return was interesting. During the last presentation Toronto was being covered in a significant blanket of snow. Cabs disappeared like ducks going South, bringing transportation to a halt. I had to get home to keep a very important commitment made to my daughter.

 

Being resourceful, I went back to the main lobby hoping that some CIGAs were left and yelled “help!” Two fellows who had been in the last meeting asked me what was going on. I explained my predicament to which they said no trouble.

 

We walked out into the snow, crossed the street and there it was, a F350 Ford 4X4 monster pickup. The only problem I had was finding a way up and into that chariot.

 

I dubbed them CIGA Big Pickup.

 

Down to business:

 

Gold has never made it thorough a round number without a battle. You may recall every 100 points since $248 gold battled at each $100 mark.

To assume we are going through $1000 with ease can only occur if my $1650 magnet is so low it is silly.

I don’t assume that.

The real number is not $1000 nor $1050 but rather $1024 with a maximum over run of $26. You may recall I suggested the run to $1000 was going to be as straight up as markets can perform.

I would expect a break above and then some rotation around $1000 until the third day above $1000. Following that it is off to $1650.

I will give you more minor angels as we move past $1024.

The ratios long the majors and short the juniors sold as an OTC derivative by the same geeks that have brought you the end of the financial world as we knew it, also produced the gold share ratio spread.

This spread is starting to contract now as the majors decelerated their climb and the juniors in the main have decelerated or ended their decline.

The US dollar has been for a long time and is now totally hopeless.

The price objective on the downside of the dollar is .5200. It will get there.

Gold is going to $1650. Remember this. It will get there.

No commodity share is going down when the underlying asset of the company is going to establish at least an appreciation of 665% from the low. The geeks only look at the momentum of a spread once again forgetting a thing called a market. When the recent OTC derivatives skewing a market explodes, as it will, the juniors will fire out of their silo like an ICBM, doing nuclear damage once again to those criminals and their overloaded laptops.

Housekeeping items:

 

I have 1229 emails to read.

 

That is called “total overload” under present fatigue and blurred vision circumstances. I have asked those who are helping me to give me a list of all phone numbers given in emails or faxes. I will do my level best to get to you. Please bear with me.

 

All you really need to know is contained in this evening’s article from Dan, Monty and yours truly, as well as in postings from the last two weeks. Those that I spent 3 hours calling this evening stand witness to my every effort to reply to those needful.

 

Regards,

Jim

[Billy]

Hi GF et al,

 

Great to have caught up with you lot. I think we'll have more fun here!

Quite a smackdown....

 

Cheers

 

Tinecu

 

 

Yup, it's like a black run on the side of the Eiger! But with Shrub speaking and en emergency rate cut they gotta do it to keep the illusion going...

[Billy]

To follow up on X Corporation, again, from another forum...fits in with cgnao's nightmare hyperinflation scenario...

 

 

 

 

 

 

 

As suggested by JS, I've been reading about the hyperinflation of the Weimar Republic to gain insight into the so-called brilliant minds' alledged game plan, by substituting "OTC derivatives" for "war reparations" and "brilliant minds/the X corporation" for "German government".

 

For your convenience, I've attached a couple of related articles.

 

 

 

P.S. If you're curious about the identity of "the X Corporation", then listen to the last half of the meeting to hear JS actually name it.

 

--

 

Article: George J. W. Goodman, The German Hyperinflation, 1923

 

Before World War I Germany was a prosperous country, with a gold-backed currency, expanding industry, and world leadership in optics, chemicals, and machinery. The German Mark, the British shilling, the French franc, and the Italian lira all had about equal value, and all were exchanged four or five to the dollar. That was in 1914. In 1923, at the most fevered moment of the German hyperinflation, the exchange rate between the dollar and the Mark was one trillion Marks to one dollar, and a wheelbarrow full of money would not even buy a newspaper. Most Germans were taken by surprise by the financial tornado.

 

"My father was a lawyer," says Walter Levy, an internationally known German-born oil consultant in New York, "and he had taken out an insurance policy in 1903, and every month he had made the payments faithfully. It was a 20-year policy, and when it came due, he cashed it in and bought a single loaf of bread." The Berlin publisher Leopold Ullstein wrote that an American visitor tipped their cook one dollar. The family convened, and it was decided that a trust fund should be set up in a Berlin bank with the cook as beneficiary, the bank to administer and invest the dollar.

 

In retrospect, you can trace the steps to hyperinflation, but some of the reasons remain cloudy. Germany abandoned the gold backing of its currency in 1914. The war was expected to be short, so it was financed by government borrowing, not by savings and taxation. In Germany prices doubled between 1914 and 1919.

 

After four disastrous years Germany had lost the war. Under the Treaty of Versailles it was forced to make a reparations payment in gold-backed Marks, and it was due to lose part of the production of the Ruhr and of the province of Upper Silesia. The Weimar Republic was politically fragile... for more click on link below.

 

http://www.pbs.org/wgbh/commandingheights/...rinflation.html

 

 

Article: USAGold, The Nightmare Of German Inflation

 

Foreword: The many parallels between 1924 Germany and present-day United States are cause for concern. Though the U.S. has not yet reached the depths to which Germany descended in that era, few can look at the constant depreciation of the dollar since the early 1970's and fail to be alarmed. It seems contemporary America differs from 1924 Germany only in the duration between cause and effect. While the German experience was compressed over a few short years, the effects of the American inflation have been more drawn out.

 

In my view, this has occurred for two good reasons:

 

First, American central bankers have learned enough from the German experience to delay and extend the consequences of printing too much fiat money.

 

Second, Germany was a small state isolated from the rest of the world, a pariah nation of sorts following World War I. As a result, it had a difficult time finding a market for its government bonds. German deficits had to be financed internally -- a difficulty which greatly accelerated the printing of fiat currency... for more click on link below.

 

http://www.usagold.com/germannightmare.html

[Billy]

Perhaps slightly off topic, but it is an education in the mass mass psychology of crowds - relevant to the herd and how the possibility of an illusion can totally fool the herd...or not (I'm still scratching my head as to what I would have made of it!)...

 

This is a prank on a "grand" scale. Over 200 people gathered at Grand Central Station in New York to pull off a 'frozen in place' act. The onlooking travelers who weren't part of the act were mystified as to what was going on...to say the least

 

http://www.maniacworld.com/frozen-in-grand...al-station.html

[Billy]

Bernanke might announce another rate cut this PM. That is why the smackdown. Citi bank looks like it is in DEEP DOO DOO. Even SWFs are balking at it now. Brace for impact..

 

 

More on Citigroup...

 

Thornburg Drops as Citigroup Sees Possible Bankruptcy

 

March 3 (Bloomberg) -- Thornburg Mortgage Inc. lost more than half its market value after the home lender failed to meet $270 million of margin calls and a Citigroup Inc. analyst said bankruptcy is possible.

 

Thornburg fell $4.98, or 56 percent, to $3.92 at 12 p.m. in New York Stock Exchange composite trading. The Santa Fe, New Mexico-based company, which has struggled with falling prices for mortgages since the middle of 2007, may try to raise money by selling debt, equity or securities holdings, according to a statement today...

 

-END-

 

 

 

http://biz.yahoo.com/rb/080303/thornburg.html?.v=3 To all; today it is Thornburg mortgage. Last week it was AMBAC. There are so many potential "detonators" out there. No one can know what event, company, bankruptcy, etc. will flip the light switch off. This situation has now become OBVIOUS. We have had rate cuts, Central Bank infusions, fiscal promises, bank nationalizations and promises of more banking support. These have not worked. The economy is now accelerating to the downside. Warren Buffet today said " by any common sense definition, we are in a recession". The "credit crunch" is now biting the real economy with a vengeance. The catch 22 is that none of these traditional remedies will/can work.

 

We have Gold at close to $1,000 per oz.. The anti Dollar can never enter a Bankruptcy court. Gold will never require a capital infusion or "Fed loan" to remain solvent. Gold doesn't get heart palpitations while waiting for reaffirmation of a AAA rating . It can't have counter-party risk if you have it in hand. If you have no margin against it, you can't receive one of those margin calls that have been ever so popular as of late. If you didn't know better, you'd think it should be a boring investment. It actually is. An oz. today, will still be the same ounce next year.

 

The big question is, how crippled does the Dollar become? I believe there is better than an even chance, that there will be talk of a "Gold ratio" backing to at least one major Fiat currency within the next 12 months. It will be at that point, that the "fun" will begin for the owners of Gold. Own Gold and sleep better!

[G0ldfinger]

...

Quite a smackdown....

...

Welcome! Yeah, quite a punch. Maybe the shortsellers smelling more blood now?

[G0ldfinger]

More on Citigroup...

 

The New York-based company said in January it was getting another $14.5 billion from investors, including the governments of Singapore and Kuwait.

 

``It will take a lot more than that to rescue Citi and other financial institutions,'' said Sameer al-Ansari, the chief executive officer of Dubai International, at a private-equity conference in Dubai today. Dubai International is among the investment funds controlled by Dubai ruler Sheikh Mohammed bin Rashid al-Maktoum.

http://www.bloomberg.com/apps/news?pid=206...&refer=home

[whoops_apocalypse]

Evening all...

 

An interesting evening awaits it appears what with Uncle Ben scheduled and a myriad of rumours to decipher. I wonder what treats, if any, Commander Ben has in store for PM fans tonight?

 

Personally, I find all this talk of mortgage principal reductions somewhat intriguing, especially from an inflationary and moral hazard perspective.

 

Nice here innit?

[G0ldfinger]

Evening all...

 

An interesting evening awaits it appears what with Uncle Ben scheduled and a myriad of rumours to decipher. I wonder what treats, if any, Commander Ben has install for PM fans tonight?

 

Personally, I find all this talk of mortgage principal reductions somewhat intriguing, especially from an inflationary and moral hazard perspective?

 

Nice here innit?

Was an interesting day so far. This reduction idea seems dead before it even gets started. I just can't see it working without totally eroding what's left of this market. No, I think it's the Fed who will have to print some money in the end.

[Pluto]

http://www.bloomberg.com/apps/news?pid=206...&refer=home

 

The turd is going to hit the fan if Citi keels over. Citi is a major clearing bank, and if a clearing bank goes under everyone better hide under the table.

[G0ldfinger]

The turd is going to hit the fan if Citi keels over. Citi is a major clearing bank, and if a clearing bank goes under everyone better hide under the table.

I think the recent news are very concerning. Gold's slump is a real joke given the news today. I might take the opportunity to buy some Sovereigns soon. Not yet decided how long I will wait. If Citi goes under, all bets will be off. There won't be much bullion around shortly afterwards, IMO. But then, too big to fail, right?