The Soros information is public info. It has been all over King World News and jsmineset.
The Mass Media has failed miserably once again to tell the real story. They are the mouthpiece of the Gov't in trying to help out on the gold smash. Any competition to the dollar must be smashed - check out what the did to Bitcom. Soros has a large bet that the GDXJ wil rise considerably short term.
IMHO it will be over when the Bullion Banks want it to be over and they have exploited their short positions to the point where they are overleveraged on the down side and are properly positioned for a run higher. We are nothing more than corks floating on the ocean going along for the ride that they wish to give us. GOld is relatively small, easily manipulated market that makes the central banks of the world look like the idiots they are when it goes up. Gold will probably be much higher at some point in the future but do not underestimate the huge power of the in Fed and Bullion banks to hold it down and make it dance when they want it to. No one ever investigaes how huge naked shorting in the paper market drives the paper price. The reason is that THEY are doing it and have no reason to look under the sheets. Life in the Matrix is supposed to be just fine for us. The Fed openly manipulates Interest Rates - That is their job. The stock market goes along lock step. I guess that LIBOR thing was just a misunderstanding, Huh? The real question is why would anyone believe that the gold market IS NOT manipulates. Enjoy the rally, let's hope they want it to last.
It only took about $2 trillion of QE to get us there but still glad to see it. This stock and sector has lagged and will come into focus as the market is running out of places to put all the money sloshing around. We need to get the Hedge Funds and HFT ers running after this stock. There is no REAL market anywhere so what differance does it make anyway. My ONLY advice is keep reasonalbe stops under this and any stock.
Never ride them down into the dirt. There is more rish than usual in this market. Take reasonable actions to control your risk.
Real market demand for physical gold and sliver has ruined the Central bankers plans to smash gold. Stocks are much easier to attempt to manipulate in order to create the apparance of normality in the marktets. This is the next phase that they hope will be easier and more successful. Just Pathetic really. Banks are run by criminals for the benefit of other criminals. All markets are currently manipulated. Beware. Stay clear of margin. In the end reality will unfortunatly wll become apparent to all.
Fjackny99. That is the spirit. Spit in their eye. Stay the course. In the end gold will be the only man standing. You and all who can see through the curtains will be vindicated. There are many who agree. You are not alone. The Central Planners only fear is people who trully understand what is happening. Do not be one of the shepple. Think for yourself- see what is happening as they destroy the world's economic system as has happened so many times before in history. You are correct. Never doubt your instincts.
Aired last night in Canada. This is in 3 parts and posted on jsmineset or you can search for it on YouTube. I could only find the first 2 parts on You Tube. Very interesting and most realistic, honest piece you will ever see on TV about gold. If you have money here, it is worth you time to watch it. Enjoy truth and reality from the media for a change.
See latest comments from Paul Craig Roberts, Asst Sec of the Treasury during Regan's 1st term and previous asst editor of the Wall St Journal. Some comfort and insight into the recent selling of gold mainly in the corrupt paper market. Never give in. Never give up. This is really all about good vs evil. Reality vs perception. The end result will be the same, the only question is what will you be holding at that time.
Good luck to all.
NG price unchanged around Noon. Impressive I hope. You can only go down so far for so long. We have already taken the hit. Why not wait to see what happens next. At least you get to enjoy the action.
Gold is the most difficult market out there. It is not driven by factors that affect other markets. Timing it is next to impossible. The only reason to own gold is if you truly believe that paper currency will eventually collapse. The entire world is creating paper currency at an incredible rate and the Fed and Bullion Banks do not want to draw unneeded attention to this thru a elevated gold price. It is a very tough call but I beleive that some insurance against the politicians and central bankers is appropriate. Life is a #$%$ shoot. Gold is no differant.
Other choices are the juiced up stock market or return free risk in the bond market. Most people are just sitting around looking at idle cash - at least cash did not go down 10% in the past 2 days....or did it?
Most things posted here make sense about the difficulty of ever actually bringing a gold mine on line here. There is no doubt the gold is there in large amounts. The price of gold has to go UP for this to happen. It is really as simple as that. You must ask yourself what do your REALLY believe. Can paper money be created without consequensces with no end in sight or will we have to pay the piper some day. Then factor in the risks involved on a company level. High risk - high reward if it hits. Do not bet the kids college money here but maybe worth a calculated risk for a portion of your high risk pool.
Also check out King World News and jsmindset (Jim Sinclair). I also get a kick out of The Golden Jackass - Jim Willie - he throws a lot at the wall to see what sticks. They all have a very pro gold bias but still expose you to many pieces of information that get precious little attention in the Main Stream Media. I will give your recommendation a look. Good luck to all......it looks like we need it. Technicals are terrible and we seem to be outmanned by the Fed and Bullion Banks lately. Not sure how low we go. My approach is hold pyhsical w/no leverage and speculate on the miners and they certainly appear to be speculative at this stage.
Man this is a tough situation. No wonder people are bailing. What has to happen for these stocks to go up?
World wide situation could not be much more positive for gold but we are range bound at best. Please tell me that these stocks are not being manipulated. When things do not make sense you need to be very careful. Big money and big Gov't is at work. Eventually true market forces will force events but this can go on for a long time. I think the Hedge funds are shorting as no one else is actually in the market. Until the momentum switches around the miners are truly suffering. We need spot gold to move. Please tell me that no one is manipulating that either. So with all markets being manipulated, why bother. Maybe just to spit in their face. In reality, that is the only reason I can think of to own the miners unless you think the whole deal can blow sometime soon, which could also happen.
We were headind down at that time. Looks like we have put in a double bottom and should go up from here. Let's hope that earnings are at least "OK". Gotta believe we have room to run up here, especially in this hyper stimulted market. Maybe some long suffering longs can get whole in here but there are probably many who will sell as we attempt to go higher as they finally get even. This stock has been just one more on a long, long list of Cramer Duds. But I think we go higher from here as the cost of the merger is already in the stock and the benefits of it are not.
Cyprus bank accounts to take 60% haircut. France has scandals over secret bank accounts and economy is flatlining as new President's approval ratings drop to lowest level even for a Socialists. No End to QE for the UK, Eruoland, Japan, and the US. There will be more bank haircuts in Europe and the world will finally wake up to the abscense of value to paper currency. People will more and more look for REAL assets like art, real estate, and precious metals. We live in a world devoid of economic reality because it is too difficult for the average politician or person to acknowledge that reality of the situaiton. So the Fantasy goes on.......at least for now. Own physical as the base of your protection outside the banking system. Miners are to speculate. Good luck to all.
I tend to agree with you and am holding all shares. The real risk is that there is something wrong at the company that is visible to some but not to all. If bad news comes out now, it spells long term trouble. I stil think Greece is somewhat of a wild card. You must beleive in management's ability to run the company and also that the long term trend for gold is definately up. If you buy those two concepts, you will be fine and sleep well at night but it is not easy in here at this time.
Gee, I guess QE is to Infinity. What a joke the FED is. Print money until the end of time or until the world wakes up and realizes what is acutally happening which is the total debasement of the world's current reserve currency. Emphasis on the word "current". I wish the FED would stop printing and actually raise rates. Then we would see who has any clothes as the tide goes out. This would also end the huge tax of artifically low rates on savers. Means test for the prudent, Drug test for those who receive from the productive. This all shall come to pass sooner than we may think. Now we also have to compete with Bitcon. If there was ever a true indication of how specutalitive the markets have become, Bitcon is it. Keep your head down and eyes open.
Huge volume today here and at most mining stocks and ETF's. Hopefully this is the big washout at the bottom. EGO and most mining stocks have been cheap for a long time. Now they are at fire sale pricing levels. The shorts have the upper hand and gold is falling. Gold needs to level off and if the sellers are done we should see a rally. This whole sector has been ugly for a long time as you also have the the paper market trying to hold down the physical market. The physical market must make a stand and take delivery to put some backbone in the marketplace. Gold will win in the end but it may be a long time coming and the not everyone will have the fortitude or financial means to stick it out. Treachery abounds - be careful.
Compared to the Zero Interest rates imposed by the Fed. This is the tax that goes on indefinately and takes untold Billions out of the pocket of all savers that have cash in US institutions. As fixed income rolls over the reduction in income as new bonds or CD's are purchased amount to much more than the 10% being stolen in Cyprus. Also here it is an ongoing tax until rates go back up. The key quesiton is what market event could overcome the feds ability to hold ratest down considering they have unlimited firepower. Any guesses?
Congrats to the Plunge Protection Team. Too bad the bullion banks could not hold gold under $1,600 !!
This could get interesting. Who is holding the CDS's on the Cyrpus Banks? Can't be the London Whale. They fired him after lying to Regulators for 6 months. The Beat Goes on. Got Gold?? Cyprus residents wish they did. They would be 10% richer today if they did.
Good to have an actual discussion instead of trading insults with an unknown xxxx. Thanks for your thoughts. I appreciate them. Good luck to you as well.