The predicted cartel goonings are going off right on schedule. Schedule is the only way to describe flash crashes occurring at 3:00 AM, 4:00 AM, 7:30 AM, and 10:00 AM. The improbability of such a trading method doesn't even dignify further thought. Each flash crash minute as always totally dwarfed the rest of the access/Comex trading minutes. In particular a whopping 12,986 Feb. contracts were sold between 10:01 and 10:06 AM. , an average of 43 per second. Just 8 flash crash minutes accounted for $16 of today's plunge. As usual Sunday evening's weak access trade open was the tipoff for the cronies. That is yet another reliable indicator, much like a suddenly weak HUI or silver. Since my cartel storm warning back on Nov. 13th. gold has now dropped $63, or 5%. In that time the flash crash has been the featured method.
It sure looks like the script now calls for one final washout to that dubious (as in all gold pundits are calling for it) $1180 area. Friday's NFP report would look to be picture perfect timing. The cartel is nothing if not neat and tidy. Throw in some Fed taper gibberish and it'll be fait accompli. Technicals are currently showing gold severely washed out but of course nothing really matters when the schedule demands all-out war on gold.
Anybody thinking an imaginary, ephemeral cyber product (bitcoin) is a better alternative to a 2,000 year-tested real money (gold) will one day get a rude awakening. Confiscation of cyber currency will be as easy as hitting the "delete" button at an appropriate time. Maybe bitcoin owners will also have the pleasure of getting to "bail in" some debt-addled, wobbly government. Deleting or "bailing in" gold will prove far more difficult, which is the whole point. This extraordinary effort to discredit gold can only be part of some far larger agenda. Maintaining an illusion of using CTRL-P with no ill consequences must certainly be playing a BIG part.
How long has it been...2 years?
DO YOUR OWN DUE DILIGENCE. HONEST MONEY DOES NOT IMPLY HONEST PEOPLE.
FOR CHRIST SAKES
So you say he is the same Mickelberg that was wrongly convicted?
You left that part out of your statement. You forgot to mention the lying detective.
Mickelbergs to receive $1 million ex gratia payment
The Attorney General Jim McGinty has revealed the State Government will give the Mickelberg brothers an ex gratia payment of $1 million for their wrongful conviction of the 1982 Perth Mint gold swindle.
The payment will take the amount of compensation paid to Ray and Peter Mickelberg for legal fees and their wrongful conviction to more than $1.6 million.
Ray Mickelberg served more than eight years in prison and his brother Peter Mickelberg served more than six-and-a-half years after being convicted of defrauding the Perth Mint of more than $650, 000 of gold bullion.
The convictions were quashed in 2004 and the Western Australian Government handed the brothers an ex gratia payment of close to $658,000 for legal expenses.
Mr McGinty says Ray and Peter Mickelberg had originally asked for $900,000 and $750,000 respectively.
"Cabinet recently approved $500,000 ex gratia payment to each Peter and Raymond Mickelberg. That has been made in consideration of the of the magnitude of the admitted perjury and the perversion of the course of justice by former detective Tony Lewandowski," he said.
"The Mickelberg brothers are entitled to the presumption of innocence. They were acquitted of the charge on appeal in 2004 and in the light of this massive wrong doing by the police it was appropriate that an ex gratia payment be paid to the Mickelberg brothers.
"This brings to an end the litigation between the Mickelberg and the State Government."
Take it or leave it
The Mickleberg brothers say the State Government forced them to accept the $1 million payment.
Peter Mickelberg, Member
Peter Mickelberg is a financial analyst and trader who has specialized in precious metals and mining equities. He is currently a communications consultant to Mr Sinclair and his company, Tanzanian Royalty Exploration Corporation.
About Singapore Precious Metals Exchange (SGPMX)
Established in August 2011, SGPMX is the world's first physical bullion exchange established for investors, traders and institutions to trade physical precious metals like gold and silver with physically backed bullion storage facilities. It provides consolidated offerings for customers to buy, sell, store and exchange precious metals under one platform, and is privately held and independently funded.
Victor Foo, CEO and founder of SGPMX said, "As part of the company's long term growth strategy, we have invited industry specialists and experts from various fields to form the Advisory Board. With each member's expertise, we are confident that they will not only value add to the management of the Exchange, but also drive the bullion industry forward with the initiatives in the pipeline."
Bios of Members of the SGPMX Advisory Board
Jim Sinclair, Executive Chairman of SGPMX
Sinclair is a precious metals specialist, commodities and foreign currency trader. He was the Chief Executive Officer of Northwestern Basemetals Company Limited since 2012. He has authored three books on precious metals, trading strategies and geopolitical events, and their relationship to world economics and the markets.
Dato' Yusli Yusoff, Member
Dato' Yusli Yusoff was the CEO of Kuala Lumpur Stock Exchange (Bursa Malaysia Berhad) from 2004 till 2011. Currently, he sits as an Independent Non-Executive Director on the Board of Directors of a few public listed companies, including YTL Power International Berhad, Mulpha International Berhad, Mudajaya Group Berhad, Air Asia X Berhad and Westports Holdings Berhad.
Dato' Raymond Liew, Member
Dato' Raymond Liew is the President of McMillan Woods Global, an independent member firm of McMillan Woods Global network. He is also a Trustee of the Malaysian Accountancy Research & Education Foundation and is a Council member of the Chartered Taxation Institute of Malaysia (CTIM).
Ranjit Singh, Member
Ranjit is a general litigator with vast experience and appears regularly in the High Court and Federal Court of Malaysia. Besides representing and advising public listed companies and professionals, Ranjit also acts as counsel to the Malaysian Bar's compulsory insurance scheme.
Independent Advisory Board established to ensure long term growth strategy, protect interests of customers
November 22, 2013
SINGAPORE - Singapore Precious Metals Exchange (SGPMX), the world's first physical precious metals exchange with peer-to-peer bullion trading capabilities, today announced the appointment of precious metals specialist, Jim Sinclair, as Executive Chairman of SGPMX. It also announced the establishment of an Independent Advisory Board chaired by Jim Sinclair to oversee the transparency and management of the Exchange, as well as to develop education and advocacy programmes around physical bullion and wealth storage.
Independent Advisory Board members of Singapore Precious Metals Exchange's Independent Advisory Board include former CEO of Kuala Lumpur Stock Exchange (Bursa Malaysia Berhad), Dato Yusli Yusoff, President of McMillan Woods Global, Dato Raymond Liew, prominent lawyer Ranjit Singh, and experienced commodities trader, Peter Mickelberg.
Jim Sinclair said, "I believe the U.S. economy is headed for hyperinflation and the alternative to currencies is precious metals. But it's physical gold and not future gold that we should be looking at. And personally, I predict that emancipated physical gold price from future gold price will go up from US$3,200 to US$3,500 an ounce by 2016."
"I'm a firm believer of the Singapore Precious Metals Exchange's business model and am confident that the platform addresses bullion trading challenges faced by traders, financial institutions and personal wealth investors like myself. By unifying buy, store, trade and transport elements under one platform, SGPMX will easily position itself as a catalyst for Singapore to achieve its goal as a trading hub for precious metals in Asia Pacific," Sinclair adds.
I'm taking a break from this stock as it stands now, I know its good, but its the POG that I'm concerned about. What happens if gold continues its slide toward 1K? There is a Latin saying on the TFMR Silver round... it says..... EMERE STUPRI INTINGE
Sentiment: Strong Buy
The cost of trying to manipulate this public physical price wherein delivery must be immediately made or payment presented immediately in full makes it too expensive to manipulate the gold price on a consistent basis. The paper gold market cannot move far away from the real physical price when the real physical price is globally known. Therefore to manipulate price the tricksters will have to participate on the physical exchanges thereby increasing their cost of their operation by orders of magnitude. That huge increase in the cost of moving price at will is the beginning of the end of paper gold ruling the physical gold price. That substantial increase in the cost of operation is the beginning of the physical gold market taking the position as the true discovery mechanism for the global price of gold. It is the beginning of the end of the reign of paper gold.
We CEOs of gold companies owe our stockholders economic production and all of our efforts to defeat the plans of the tricksters and their paper machinations that cost near to nothing and results in gold moving such as $1900 to $1200 when the true demand for physical over ground gold was on the rise and not on the fall. Where demand exceeded supply as paper gold was forced by bullies down from $1900 to $1200. This dichotomy in price is only viable via paper gold manipulation and must end here and now. To that object of "Free Gold" and the economic production of gold, I dedicate all my strength, all my contacts of 53 years in the business, all my knowledge of how to, and my capital.
I was there as a member of the Comex exchange in March of 1980, the last time the Comex board of directors panicked over the threat of the Hunt Brothers asking for delivery of both gold, silver and copper in excess of, or equal to, the then Comex warehouse qualified for delivery supply.
Asian demand for physical gold is now in excess of supply and the declining Comex warehouse supply qualified for delivery. This is the mechanism for the emancipation of Physical Gold from the 41 years of price slavery to paper gold due to the cheap paper mechanism to manipulate the world gold price.
With the present time and predictable need to change the delivery mechanism on the COMEX to cash in order to avoid default on delivery, the reign of paper gold is ending. With this end we have the arrival of physical gold as the new discovery mechanism for the price of gold.
For the transition to take place it is necessary that we have functional global platforms for the trading of physical metals between peers of merit and a transparent price for global physical gold that exists nowhere for even professional public consumption.
There has been a clarion call from the long suffering holders of gold shares and investment gold for the Chief Executive Officers of gold companies to identify and take definitive action to end the slavery of the gold price to the mechanism of manipulation, the paper gold market. The advent of global platforms for and the true revelation to the gold public of the real gold price, the physical cash price on a 24 hour basis in the answer.
My Dear Extended Family,
The following was written at Changi Airport in Singapore on route to Dar es Salaam, East Africa, November 22nd 2013/
My presence in Singapore is a mission for us. Having reported to you the six locations where cash and physical only exchanges for silver and gold were to be established, I did not leave it at that. My staff and I have contacted each proposed exchange in order to determine which of the six held the best promise for the gold market transition phase for price discovery away from paper gold and to physical gold material.
My original interest was to join that exchange on behalf of TRX. That desire transmuted itself into putting my shoulder behind that exchange which offers the global window to the real price of gold. That exchange in my opinion is the Singapore Physical Precious Metals Exchange, headed by CEO Victor Foo.
Too long has gold suffered from trading in its paper form which was originally conceived of and has continued to live as the means of manipulating the paper price of gold for the benefit of the few.
The time is at hand for Free Gold. The mechanism of freeing physical gold from price slavery to paper gold is the present time deletion of future exchange warehouse supply as the real cash price of physical gold exceeds the spot futures paper contract by the cost of shipping, the cost of insurance, and the cost of recasting of Western form 100 ounce gold bars into Asian product demand form.
The reported shipment of one billion in gold recently from the USA to the Rand Refinery in the Republic of South Africa was not junk jewelry form as reported. It was rather in the form of 100 ounce Comex bars being shipped to the Rand Refinery for recasting into Asian product, and was sold mainly in China as gold rose in price.
Pretium pushes nearly 80% higher on apparent bulk sample success
Pretium Resources (PVG) continues to rip higher, now +78.5% after saying the gold recovered from a 10K-ton bulk sample taken at Valley of the Kings in British Columbia exceeded its target.The data published today appear to show gold grades of ~16 grams/ton of ore, a GMP Securities analyst says, higher than the 13-gram level the firm expected.Despite today's gains, an options trader still buys 1,240 calls betting on the stock rallying another 30% by mid-January.The news prompts BMO to upgrade shares to Outperform.It's worth remembering that the stock has experienced some ups and downs; shares were cut in half just last month after a dispute between the company and a contractor working on the project.
This Market Current was sent to 1,112 people who get email alerts on PVG.
3 minutes ago - DJNF
IIROC Trading Halt - PVG
TORONTO, Nov. 22, 2013
TORONTO, Nov. 22, 2013 /CNW/ - The following issues have been halted by IIROC:
Company: Pretium Resources Inc.
TSX Symbol: PVG (all issues)
Reason: Single-Stock Circuit Breaker
Halt Time (ET): 10:07:24: AM ET
IIROC can make a decision to impose a temporary suspension (halt) of trading in a security of a publicly-listed company. Trading halts are implemented to ensure a fair and orderly market. IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada.
SOURCE Investment Industry Regulatory Organization of Canada (IIROC)
You are kidding? Let's guess...short operation failed or investors sold first and asked questions later!
The 16.2 grams per tonne found is significantly higher than the feasibility study's estimates and even if investors unfairly assume that no more gold will be found in the rest of the bulk sample - it is still above the feasibility study's total.
Conclusion for Investors
This recent press release should be a big step towards confirming Brucejack has one of the largest, high grade gold projects in the world. Though more work needs to be done, the market's bleak outlook on the company's bulk sample prospects after the Strathcona resignation suggest that this stock will be priced significantly higher and it was trading close $8 per share a mere 2 months ago before the resignation - significantly higher than its current price under $3 per share.
Additionally, the lower gold price may actually be of great benefit to the value of the Brucejack deposit. That's because the high grade nature of the deposit means that these ounces can be produced at a gold price far below the current $1240 price of gold, which would be very attractive to a major gold miner like Goldcorp (GG), Newmont (NEM), or Barrick (ABX) that are looking to replace mined ounces at a all-in costs price point lower than the current price.
At PVG's current valuation of $300 million, it may make a lot of sense for one of those majors to acquire a position in the shares now before the new feasibility study is issued. This will give them insider insight into the company, and if they decide that Brucejack is a project they want to develop, they will need to purchase less shares to acquire the company.
There aren't many high grade deposits with low initial capital costs in low political risk jurisdictions; at these low gold prices it makes Pretium's Brucejack very attractive. We believe investors have a significant upside by investing in Pretium - it may be wise to buy before the majors do.
Seeking Alpha....Nov 22 2013, 08:51
In a previous article we discussed the resignation of Strathcona Mineral Services Ltd., one of the companies dealing with Pretium Resource's (PVG) bulk sample update. Then we detailed a bit about the disagreement they had with that Snowden Mining Industry Consultants ("Snowden") (the other independent qualified party).
Pretium's latest news release show some spectacular results from the bulk sampling processing, and they seem to confirm Snowden's modeling methods. This has significant implications for the company's stock price, which has been hammered over the past two months over and beyond the other miners. We believe PVG's results are a significant achievement by the company and suggest that the Brucejack deposit is the world-class deposit that the company claims.
Recent Press Release: Bulk Sample Surpasses 4,000 ounces of Gold
On November 22nd, Pretium released the following results from its bulk sampling program:
What this shows is that the company processed 8,090 tonnes of ore (the bulk sample was 10,000 tonnes) and produced 4,215 ounces of gold and 3,593 ounces of silver. That works out to about .52 ounces of gold per tonne, or about 16.2 grams per tonne. Additionally, the bulk sample so far has produced 13.8 grams per tonne of silver. If the last 2,000 tonnes of the bulk sample produces no gold, the total average grade will be 13.1 grams per tonne - higher than expectations, and much higher than the market's bleak outlook.
These are spectacular results because not only does it surpass management's expectations of 4,000 total ounces, but the bulk sample still hasn't even been completed. More importantly, it gives much credence to Snowden's methodology and is a big step to confirming the reserves specified by Snowden in the feasibility study done on Brucejack, which had estimated reserves graded at 12 grams per tonne.
As everyone knows, and as we showed yesterday in our infographic du jour, Wall Street manipulates everything, EVERYTHING.... except gold. Which is why were absolutely floored by what just flashed on Bloomberg:
GOLD BENCHMARKS SAID TO BE UNDER REVIEW BY U.K. AS PROBE WIDENS
More from Bloomberg: "The FCA review is preliminary and hasn’t risen to the level of a formal investigation, said the person, who asked not to be identified because the matter isn’t public. The person declined to say which gold benchmarks were under scrutiny. One of the key benchmarks is the London gold fixing, which determines the spot price for physical gold and is set twice daily by a panel of five banks."
No. That's not true. That's impossible.
Nobody has ever, ever manipulated gold in the history of St. Wall Street. After all, why else would the CFTC and Alexander Godunov repeat, year after year, that unlike every other product, gold has never been manipulated.
Then again, we aren't holding our breath until this probe finds that the biggest manipulators in the gold market are central banks themselves nothing.
As for everything else....
Regulators are looking into whether currency traders have conspired through instant messages to manipulate foreign exchange rates. The currency rates are used to calculate the value of stock and bond
In this recent article on precious metal mining company Allied Nevada (ANV) our fellow author Ben Kramer Miller has attempted to analyze the implications of this company's debt load. According to this article, this company's debt load is unsustainable through 2014 assuming the current gold price environment. In fact, in the comments section of this article the author states when asked for a valuation of the company:
"[A valuation] has nothing to do with the viability of ANV as an investment given its short term obligations. Why go through the trouble of calculating the value of ANV when I can decide before hand that it is not a viable investment: it doesn't matter that Hycroft may be worth $2 billion from a shareholder's perspective if it si [sic.] being handed over to the bond holders."
Some strong wording, indeed. Unfortunately based on false numbers, shonky methodology and incorrect conclusions. In his analysis, this author forgets to consider some important details that support a significantly different, and certainly more positive view of this company.
According to our modeling Allied Nevada is highly leveraged and has little room for any more errors. However, we will show that this business is sustainable at the present gold price and obligations can very well be met.
In fact, we will be pointing out some aspects that might just provide enough upside momentum to squeeze the substantial short position into submission and provide some handsome profits for risk-tolerant investors trading into this stock at current basement levels.
India is not an isolated example. The situation is simply worse there for the moment because some Indian officials are historically compliant to Anglo-American interests. But China, Russia, Latin America, and the Mideast are increasingly less complacent to be so ill-used these days.
Modern monetary policy is a con game, and some of the perennial victims not only 'get it,' but are beginning to push back against it.
Change is happening. And there may be some significant volatility associated with this historic difference of objectives and opinions about what value is, and how and by whom it is set