Loading ...response in return to your 19:55, but I did respond to PMFEVER at 22:03 to further explain my question , which was whether anyone else on Goldtent now thought it was a good time to invest in Barrick, in view of the opinions that Mr. Sinclair has expressed about Barrick’s role in the big, long-term picture. Best wishes. Equiz
Thanks for the replies to my interest in water/water stocks. I’ll be looking for more of your comments as they appear.
my guess as to the meaning: Fear Uncertainty and Doubt.
classic sales technique to get some one to take action. if they dont take the action, then they are presumed to be about to lose something– money, opportunity, whatever.
the presumption being sold to you is that the cost of not taking the action suggested will result in a far greater loss than taking the action that is being suggested. usually not true, but that is why it is called FUD, fear, uncertainty and doubt.
if the deal is that good, it should be there tomorrow. and if the deal is that good, why is it being offered to you?
if answered earlier, missed it. please let me know.
intent rules.
……. ABX who in turn will control all the available gold production by acquisition. Jim Sinclair.
The real question about CALVF is simple, now. Do they have the Cobalt, or don’t they? It seems like the Chinese gave a major vote of confidence to the positive when they did their due diligence and signed a contract with CALVF, no? That one fact IS a really big deal, IMO. With the Bull market in Cobalt, and if CALVF has the Cobalt goods, then we could see CALVF run like a striped arse ape up a tree just like the uraniums did. Reports from both Cobalt companies and Moly companies state that end-users are screaming for product. I like the way that CALVF negotiated for the end-user to pay the price of constructing whatever processing plant was necessary. Again, that show how desperate the end-users of Cobalt are at this time. With China signing on, I’d say that the risk/reward model for CALVF took a giant leap to the positive. There appears to be no more question about whether CALVF has the goods.
You mentioned that “I have never seen JS say anything I’d consider as positive about ABX”. But a couple of sentences later you add that “JS has suggested that they will keep ABX afloat to continue to take over other PM companies” Is’nt that a rather positive statement about the future of ABX? So I dont understand your having missed that JS has been quite positive about ABX for some time now. And if you needed me to do more digging, I expect I could find in the jsmineset archives the several other positive things JS has said about ABX over the past 3 or 4 years. But I wont bother.
Later you say that “I have never seen JS ever suggest directly that anybody buy ABX.” Of course he hasnt. In fact I dont think he has ever suggested directly that anybody buy Tanzanian Royalty. Anyway, I think you know as well as I do why JS has never suggested directly that anybody buy ABX.
You indicated in your third insert that you were not sure where I was getting the opinion I was using in the referenced paragraph. My opinion was coming directly from the observation you make in your answer, namely that JS “is saying that the mega-banks in the background have indirectly taken a huge position in ABX”. I tentatively conclude from this that it would therefore not be foolish for me to also accumulate a significant position in ABX. The “tentative” part of this sentence is the reason for which I respctfully requested opinions from other Goldtenters about the pros and cons of now investing in Barrick. Up to now, investing in Barrick would not have sat well with my conscience.
I notice that you did’nt give an opinion on whether you thought it was wise to now take a significant position in ABX, which was the question for which I invited responses. You chose instead to turn it into a debate about JS. Too bad. If you have an opinion on my question I would appreciate hearing it, although it doesnt matter if you prefer not to respond.
Best wishes, and have an enjoyable weekend. Equiz.
To be frank going 95% into a stock like CALVF is as risky as it gets. I would call that reckless investing, especially if we were talking large outlays. I should know, I got a little reckless with WITM and watched well into the 6 figures walk away - poof! gone just like that. I was able to recover through good options trading and better money management to again reach all time highs but the chances of doing that twice are slim and none. Good luck. My post is more for newbies who need to learn how to properly invest and what in. Tuition ain’t cheap.
“…….and by inference all other gold production as ABX will acquire all (major) producers. …..”
IMO, that “inference” is a KILLER ASSUMPTION………… and JS has never said that. What he has said is that PM companies that have hedged properties (as part of a loan facility) were at risk of losing those properties under certain circumstances and that any JV partners would be at risk in total if it was their only property.
Let’s don’t get carried away. And, yes, the banks or Fed and Friends will stay under control as long as we have a paper system running with the Gold price indicated by the paper gold price. You cannot “beat paper gold” as long as they are able to print paper at will and drop the value of the paper dollar. BUT, you don’t need to to be successful in investing.
ALSO, JS does not necessarily have any reason to lean toward ABX since he signed a Royalty agreement with ABX which protects TRE from any hedge convenant in any loan agreement that ABX signs. TRE will get paid the royalty no matter who mines the metals.
February 1 – Gold $907.90 down $15.30 – Silver $16.79 down 8 cents
Guess We Ticked Them Off
“As long as the criminal remains on two legs so long, there must be some indentation, some abrasion, some trifling displacement which can be detected by the scientific searcher.” Sherlock Holmes in The Adventure of Peter Black by Sir Arthur Conan Doyle
Go GATA!
It would appear the GATA Wall Street ad ticked off The Gold Cartel. Gold roared into all-time high ground this morning (up $10) on even more horrendous US financial market news. Even without this news, the AM Fix was a new high of $933.
Then gold fell apart for no reason, DURING the PM Fix this time. This means The Gold Cartel dumped a huge amount of gold into the physical market to calm the price down. It was beginning to get too much attention, and since the Bush Administration has a crisis on their hands, they took action.
Action is an understatement. It looks like a waterfall…
The PM Fix was $18+ lower than the AM one, coming in at $914.75.
This fall came after our US jobs report which was far worse than most of Planet Wall Street expected … a report which should have sent the DOW reeling and gold soaring…
08:30 Jan nonfarm payrolls reported (17K) vs. consensus 70K; unemployment rate 4.9% vs. consensus 5.0%
* * * * *
Instead, we end up with yet another vintage Gold Cartel/PPT day.
What can you say to the pitiful souls who still don’t get, or won’t deal with, the blatant manipulation of the gold price? If a day like this doesn’t make our case, nothing ever will. God could come down and say GATA is right, and these dismal souls would dispute his assessment too.
The fact is the price of gold has been raging. No owner of gold would bomb the price if his intentions were to maximize profits. With demand what it is, they could feed gold out slowly at much higher prices than they got at the PM Fix. Instead they sold at a relatively low price for the day. We saw the same tactic in May of 1999 when the Bank of England announced its gold auctions. They were designed, in advance, to get the lowest price possible.
To give you another idea how ludicrous this takedown was today, one need only look at the price of platinum today. It closed up $25 an ounce to $1756 …
www.kitco.com/charts/liveplatinum.html
Compare that chart for the day to gold’s!
The Gold Cartel forgot to at least nudge down the price of platinum, so as not to make their bombing of the price of gold look so obvious.
Meanwhile, back at the silver ranch, the silver price managers must be tearing their hair out. They did not get much bang for their buck considering the damage inflicted on gold. In days of yore (just months ago), silver would have dropped 60 cents or more.
Commercial Signal Failure it was. The Comex open interest fell a stunning 15,460 contracts to 498,383, or around 95,000 contracts off its high. This is a dramatic fall in open interest, and most all of it came after gold took out $900. It was just too much for commercial shorts outside The Gold Cartel to hang with. They ran for the hills and got buried.
AND ONCE AGAIN, the silver open interest went the other way. It rose 2202 contracts to 185,540, not far from ITS all-time HIGH. As mentioned for weeks now, there is a different dynamic going on in silver. We have been waiting for silver to make its MOVE for a long time. The odds suggest that move is here, based on how it is trading.
One of my pet gold peeves is how its lofty price is usually linked to the falling dollar. For sure the weaker dollar is an important reason for the price of gold to move way up, but it is not the most critical one.
Yesterday:
Gold Has Biggest Monthly Gain Since April 2006 as Dollar Drops
By Pham-Duy Nguyen
Jan. 31 (Bloomberg) — Gold rose, capping the biggest monthly gain since April 2006, after lower U.S. borrowing costs weakened the dollar, boosting the appeal of the metal as an alternative investment….
-END-
At the end of December spot gold was $834.50…
Feb gold
futures.tradingcharts.com/chart/GD/28
At the last day of December the dollar shot up .59 to 76.57. Most of the month it spent time below 75.5…
March dollar
futures.tradingcharts.com/chart/US/38
The bottom line is gold rallied $100 per ounce and the dollar only fell about a point and a quarter … not much.
Gold shot up sharply because physical market demand overtook mine supply and available Gold Cartel central bank gold supply. As veteran Café members well know, gold rallied $300 after GR 21 and the dollar only fell 2 points.
Garic sent this early, which sums up the day very well…
Bill,
It looks like the timing of your advertisement was outstanding. I do not know how you could ever see a more obvious day of lies, manipulation and a printing press than today. This morning’s BLS benchmark revisions showing employment has been much weaker than stated for the past two years is a disgrace. The BLS makes Enron look honest. For two years Gold has sold off on every report that stated employment came in above expectations, now we learn these were all lies: surprise, surprise. The dollar was on the verge of making and all time new low this morning, silver was at a 27 year high and somehow the dollar rallied as interest rates fell on an extremely weak employment report. How stocks, bonds and the dollar all rallied on this report and Crude Oil, Gold and Silver sold off is beyond comprehension unless one considers the possibility of manipulation. Then we had the ISM report showing prices paid making a 6 month high at 76 and employment making a new cycle low at 47: stagflation cubed. So the Federal Reserve has made a major gamble and used the printing press in ways never done before at a time when the dollar is at an all time low and inflation is accelerating. Out of nowhere everyone decides to rush into Treasuries to lock in negative real returns and sell their Gold. A more obvious explanation is some manipulative force decided to sell however many contracts of Gold, Silver and Crude Oil it took to run weak longs out of the respective markets and set off stop loss selling. By definition this is manipulation. Meanwhile M-3 has now been growing over 15% for the past 4 months according to Now& Futures.com. The Federal Reserve tells us it is too expensive to report M-3; yet, a no subscription website reports it for free; another lie? Any discussion of what the true value of $ Gold should be without discussing the supply and demand for the $U.S. and therefore the demand for Gold is worthless. This week T-Bills fell below 2%. The demand for the $ will fall. The supply of $’s is growing over 15%. The supply of Gold is barely growing and the demand for Gold should continue to accelerate as the world realizes that the $U.S. is no longer a store of value.
Garic
Not only was platinum very firm, so was palladium. It rocketed $32 to $411, for nearly a 10% move in a single day
buymore
She is coming round the bend - one can hear it !!!!!
TC
For the last several years I have been buying no other stocks other than Caledonia Mining and a little GSPG with my leftover money from my trades on CALVF. I currently have well over 400,000 shares of CALVF and have never traded one share. As a result, I weighted my portfolio over 95 percent in CALVF stock. I sold my other gold positions when CALVF dropped below 10 cents and accumulated over half my shares below 10 cents.
While others viewed this stock with contempt because of the Blanket mine in Zimbabwe and because of the perceived country risk, I viewed this as a discount to true value being offered and took my $9.90+ Zimbabwe discount off a stock that should be trading at $10 or above. My research into the Nama property also lead me to the conclusion that there was much more cobalt there than reported in the 1997 inferred resource estimate, and that Mr. Hayden was quietly advancing the mine toward production under the noses of the competition and that he might actually beat more advanced projects into production (Baja Mining, Geovic, and Formation). The production target date is 2009, and Caledonia will be producing at least 10,000 metric tones of cobalt per year and selling it at the market price for cobalt. IMO, this makes CALVF a $10 + stock within a year and probably the best performing stock within the gold sector. CALVF will also cause your PIGS index to outperform other gold indices by a wide margin. Please take the time to listen to this interview with Mr. Hayden, especially those persons who have been strong CALVF detractors. It might prompt you to take a second look at this stock.
http://www.wallstreetreporter.com/page.php?page=featured&id=27715
The ones who have made the mess are in total control of everything, including the gold market, which they control by controlling ABX and by inference all other gold production as ABX will acquire all (major) producers. Gold will shoot up when they are ready. So sit tight (and trade on his sell third into strength etc.). Ride the coat tails of the top dogs.
No, he didn’t say to actually buy ABX, maybe he can’t because of investment advice regulations, I dunno, but Tan Range has a royalty agreement with them. Not the same as “BUY ABX”, but a hint where his sentiments lie, maybe.
I have considered that fact as I have been looking @ GFI, thanks for reminding me.
Question? Could the PTB have deliberately neglected to improve the electrical infrastructure so as to affect the miners & buy them cheaper? Or is that just my natural distrust of authority?
buymore
…..very clever….you must be watched…..hehe