"If you own gold, you are in a war"

[Entendance]

Spot gold Tuesday hit a new record high above $1,250 a troy ounce...



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[sowhat]

There is something profound going on in the background of this market, making it well worth watching even if you do not have an investment interest in it specifically....
Rather than admit they were wrong, most amateur investors will instead become bystanders and spectators, jeering and cajoling the passengers to get off as well, so they do not feel so foolish and lonely as the bull market passes them by...
chart
http://tinyurl.com/392ygen

[sowhat]

Jesse's call

Gold Bulls Are In Their Cups and the Market in Confidence Games

http://tinyurl.com/35ug6sc

All Paper Money Will Go To Its Intrisic Value, Zero.
There’s no other way out but to print money. In the long run, all paper money will go exactly to its intrinsic value, which is zero.
http://tinyurl.com/3xpx9kb

[sowhat]

...Expect the unexpected going forward since markets hate uncertainty and nothing creates more uncertainty than political decision making and policy legislation. Markets will experience increasing levels of volatility with steeper rates of price movement both up and down. Flash Crashes and Flash Dashes will be common as millisecond advantages separate the dynamic hedging winners from losers.
Hard assets such as physical gold and silver have traditionally been the ideal vehicle for an environment of high inflation coupled with a currency crisis.I fully expect governments will strip these assets from holders either directly or through predatory taxation, fees or other trading limitations. They will be classified somewhere in the four categories discussed above. Alternatively, if it is not done in this fashion it will be controlled through intervention similar to national currencies in the forex arena. I personally suspect it is already being controlled in some fashion based on the March 25th whistleblower testimony by Andrew Maguire. It is a matter of national security in a beggar-thy-neighbor environment since gold and silver are the only real money in a fiat based system. Protect yourself accordingly.
viewtopic.php?f=7&t=748&p=11043#p11043

[dlry]

People are going to point to the front page NY Time's article as a contrarian tell Contrarians beware http://tinyurl.com/2f92dtu

but as an astute commenter links:

I looked back at the NY Times articles during the last peak and they had a similar article in July 1979:
http://tinyurl.com/2f92dtu
Six months later it was $850.

At $300, 'a Thoroughly Respectable Investment'; Once a 'Barbarous Relic,' Gold Feeds on Anxiety

By ROBERT D. HERSHEY Jr.

July 22, 1979, Sunday

Section: Business & Finance, Page F1, 1332 words

LONDON GOLD. The word used to evoke all kinds of negative images in the American mind. [ END OF FIRST PARAGRAPH ]

So don't get played by the players even if its unbearable to see Glen Beck in the same camp..if you focus on how many people actually own the stuff, sentiment is still on the bulls side with sharp corrections permitting.
If I remember correctly the miners bull market lasted longer than the high in spot gold and did not get turbo charged until years later as earnings expanded!

[dlry]

Jim Rickards

Monday, June 14, 2010

In this interview Jim discusses his recent meetings at the US Treasury and the FDIC, the fact that we are headed towards a one world currency and bank, that the G-20 and IMF do not want it to be backed by gold, that he thinks any green shoots will be stomped on immediately and much more.

http://tinyurl.com/2a7j42o

[Entendance]

Today we'll sell some gold and gold stocks just to add on more short positions

[dlry]

Rumor or fact? I don't know just passing it on..................but it does move toward a feeling I have about US Gold http://tinyurl.com/2eg3fx2



"Canada's secret Gold Reserve
June 15th, 2010

There are whispers in the Great White North that the Canadian Government has been quietly but vigorously amassing very large reserves of Gold.
Semi secret documents from Natural Resources Canada and the Department of Public Safety and Emergency Preparedness point towards a collaborative program that has Canada sitting on 300 Billion USD worth of freshly mined Gold.
This secret stash would represent about 4% of the worlds known Gold Reserves. What gives credence to the tale is that over $5 Billion has been shuffled and hidden in several large Federal Government Land acquisitions and Sensitive Lands reclamation projects that coincidentally included over 30 inactive Gold & Silver mines.
Other strange events such as the recall(since 2004) of some 3000+ Hard Rock Miners that were formerly Federal Government employees in the Uranium Mining industry. These Miners are now subject to the National Defense act and there is no official public accounting of their operations or financial dealings....

Other strange events:

Province of Ontario buys a Precious Metals Refining facility.

Province of BC removes 2600 Hectares of Productive Forest Land from the Tree Farm License. This land is in the Cassiar region and is purported to hold some of the densest Gold veins in the World....

http://tinyurl.com/2dpyre2

[Entendance]

Will Gold Miners Act Like Stocks or Gold During the Crash?
http://tinyurl.com/39gjn7v




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[dlry]

SHHHHHHHHHHH...be very quiet........we're accumulating gold! http://tinyurl.com/crujeg


Now China sources newly mined gold from the USA

China is already the world’s largest gold miner, and many analysts now assume – following the country’s announcement last year that it had been building up its gold reserves for six years unknown to the West – that it is still expanding its gold holdings in a way that does not necessarily show the gold going into official reserves. And now it appears to be looking elsewhere to purchase supplies of the yellow metal without overtly impacting the market.

What is significant, perhaps, is that this suggests that China’s commitment to gold is both ongoing – and likely to increase. The country, through its financial institutions and state television advertising, has been persuading its ever growing middle classes to purchase gold (and silver) as a good investment. There seems little doubt that the state is doing the same thing itself as a means of diversifying its huge reserves.

http://tinyurl.com/34g6hcz


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