At this point I have to agree with Gary
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BOB did not do his DD, before hand, BOB has no excuses………but, I like BOB.
I cant agree that it was 321 golds “fault” they were only accepting a company that wanted to advertise.
To their credit, when they found them out they removed their ad.
What exactly did they do?
They were whats called “mining shares”
Telling a bs story, pumping their shares and selling.
Ive seen it a few times.
Just out of interest PF, one way to tell if you found “scammers” is when they don’t do what they say they are going to do with their cash.
Another is when you see them selling shares repeatedly to raise cash.
When they do that excessively you’ve found poor management at least.
This is Kevin Olearys point.
Hi bb does Aurcana belong to that list? Do you know if aurcana is good in your books?
Gary all your doing is highlighting Trading!
This isn’t evil at work or anti-gold bankers, its trading, taking out stops etc those with the ammunition have always pushed markets around in their favour it happens on a daily basis within the currency markets, day-in-day-out
If gold had taken out $1321 it would have been testing $1331 very quickly, that’s trading.
JUST WHO controls the market? TRADERS OR BANKERS
OR NEITHER……..
Well who do you think carries the biggest positions?…traders or bankers….it really doesn’t matter who, its those with the biggest positions that can and will continue to do so, move short term markets in their favour, its always been this way, nothing new!
I like your answer………..”SHORT TERM”……….
Hmmm…maybe so. But given that certain actors have virtually unlimited access to gov’t funds, and no position limits are enforced, etc. I really don’t think this is remotely like we want the markets to work.
If it were working against the interests of TPTB it wouldn’t be allowed for a second.
I don’t know that it’s evil but there are definitely position limit violations. These guys are big enough to manufacture a nice little profit machine.
I should have mentioned, This criminality is why I like Garys approach so much, which is what I have always said. Gary takes it into account.
Nothing worse than a cheat at a card game you don’t know about.
(well, maybe an earache etc)
yes,……there is something worse………a liar……..that cheats………
Ive heard that liars are also thieves as they steal integrity from themselves.
The only way to normalcy in banking is the break up of Morgan, Goldman, Morgan Stanley, Citi and B of A. These 5 have ruined and still are ruining the world. Dodd-Frank a total joke on the world. Folks, just remember JP Morgan is and I say is The Federal Reserve
Martin………..ditto…………
Ditto, Jerry…A LOT…..of dittos lately
I noticed that……….Where is the professor….I bet he is on the boat again……
Yeah, Jerry…
I cant blame him……not one bit!
DITTO
The SEC or the White House will do squawt towards the players you’ve mentioned as they are the Primary Dealers who sell US debt which keeps the whole system afloat…..change to big to fail and the bankers will put a Bond gun to the powers at be….come after us and we will no longer sell your Government Debt….Good luck!!!
You are correct, the White house(goons) and SEC(goonies), have no intention on doing any thing………..THEY ARE PART OF THE PROBLEM , and it well to recognize the problem within. We, should not be sell any debt, we should live with in our means.
sell….should be selling…….sorry
Balance the budget……..or get the heck out of office……….I say………
Its primarily Goldman veterans who work at the fed I believe.
I think you are correct…………….”revolving door”……..
IF, Gary does not look at MAIN EVENTs(Russia)…? How do you do TA correctly?
Al………….SUPPLY AND DEMAND………….Just like water seeking it’s true level,after a rain storm. Manipulated markets, eventually, seek and reach, true supply and demand………..Nature, and human nature, a fact of life.
Putin is playing the West like the cheap violin that it is. I like ‘ole Putin, he’s my kinda Commie.
That is too funny!!!
Billionaire commie….oxymoron…no… he IS the “state” in Russia..thus 40 billion…but, he is playing the USA like a cheap violin…yep…that is about right.
Talking about fleecing those guys is this type of thing legal? Who has this stuff being allowed-the govt? Was it always like this or is this a recent thing? Have we gone off our moral rockers in this country? This stuff hurts me to my heart to see this going on and no one does anything to stop it. What goes around comes around! I hope these crooks get theirs!
Welcome to “The Other Golden Rule”, there, tim.
Hey Al. Thankyou very much for providing this service!!! Really great to find somewhere intelligent dialogue and analysis still actually happens 😉 I found the discussions last week regarding inflation / deflation between you cory rick and Gary Very intersting but not entirely conclusive.. would LOVE to hear more debate on this issue. I dont know if it would be possible, but if you guys coild do a weekend report featuring Mike Maloney discussing this with Gary, Rick and yourselves, i have a feeling that would make for one hell of a show!! Anyway just my 2 cents. CheersJ
They put together a great show, don’t they Jay.
Pretty funny Gary! I enjoyed your theory and got a good laugh at the same time. What we are seeing right now is a battle between bulls and bears that is often indicative of a bottoming process as volatility increases in a very tight trading range. Who knows how long it will go on. The end result should be a breakout though so be ready for that. Gold is just waiting for a trigger. I don’t see a conspiracy here at all. Shoot….they are not that smart! You give those guys way too much credit. Ha Ha Ha!!!!
Al…you have to throw out the guidebook on common sense when gold markets are at these critical junctures. Nothing will make sense at times like these. The reason is because there is indecision for one.
Just look at the debate over inflation and deflation as a perfect example. After 5 long years (or is it six now?) the market has still not come to a consensus decision on whether we face inflation or deflation in the next few years.
How is that even possible with so many bright minds focused on the topic!
Where gold is concerned we have other factors at work. The shorts have made tremendous profits for something like 40 months by playing off the fears and beliefs of the gold camp. They socked it to them every which way but Sunday but don’t seem to realize the fat easy pickings are finished now.
Nonetheless they are still in pattern buying mode and trying to squeeze a little more juice out of the short side. So program trading is kicking in at every key technical level. Just in case there is another fat downdraft…..they still have hope!
Conversely we have the bullish camp of traders who are fairly sophisticated and know a bottom when it hits them upside the head. These guys want to get positioned for the next big flight higher but their confidence is not yet strong enough to buy and hold. Serious doubts persist about the strength of precious metals and to some it looks like another year could pass before we get a true liftoff.
So what happens is those guys also jump in whenever key technical patterns trigger a buy opportunity and they try to get long strategically. They are mercenary though and won’t stick around if the trade looks premature or if it is going sour. In most cases they don’t even make the decision as the computer makes it for them based on formulas.
The net outcome is we get a push-me pull-me kind of market where both longs and shorts are both sniffing out what they think is easy opportunity and yet nobody seems to be able to make that kill-trade that sticks. Not many are making money just yet.
So volatility rises and neither a breakdown or a breakup happens to give real satisfaction. Day traders love this stuff while it lasts. You can make a buck every single day playing both sides of the trade and it even gets a little routine.
It is just a matter of time before we get a trigger though and settle in for a serious change in the price trend that sends momentum in one direction or the other. Most of us here believe that trend will be up. I am in that camp. Only the “when” is what really matters.
So throw away the playbook Al and forget about supply and demand and all the fundamentals that should matter. They are meaningless during a transitional phase where nothing but human emotion and sentiment play the starring roles as the opportunists (greed) fight for dominance against those who cannot live with one more losing trade (fear).
This is a time of pure technical warfare on the gold battlefront.
What I am saying in other words is simply this….stick to your beliefs. Have confidence. Forget the conspiracy nonsense and don’t forget the basics. Lows are lows. These prices are low given what we all know. If you are already positioned for the next rise then good for you. The day to day volatility is enough to scare most people out of positions unless they understand the basics. But this is just a transitional period. Nothing more or less. So it requires some faith and a good understanding of how major trends are created. Some say that gold will not get liftoff until the Fed tightens and equity markets start to fall. I don’t know. Nor do any of us know how long we will need to wait before the upward trend in gold will reassert itself. Markets make fools of bright people every single day. This one is no different.
Gold currently still has no backbone…it’ll develop one in time…I’m betting on it doing so afterall !
But for now its still a Jellyfish…nothing but wobble wobble…then beaching itself.
…I repeat yet again…I believe we have greater opportunities to purchase physical & mining stocks cheaper in the coming weeks.
Cheers.
From bob moriarity article on 321 gold.
Write these names down and keep them handy. If you ever see them associated with any company you are considering buying, prepare yourself to be raped. Ian Rozier, President of Newport Exploration, Barbara Dunfield, CFO of Newport and David Cohen, Director of Newport. What they pulled on Newport Exploration wasn’t just your typical screwing shareholders that we all expect on a regular basis, they raped Newport shareholders on a continuing basis.
Criminals everywhere, I wonder how long it will take people to listen to Ann Benhart(sp)
Surly to goodness there has to come a point when people realise that all aspects of the markets are criminal and the risks of an entirely corrupt game just are not worth it.
From Kevin Oleary saying that gold miners are the worst business managers on the planet to Ed Steer saying that all gold mining companies are at least complicit in the corruption and would never own a share, eventually you would think it would all just collapse.
Bob as most already know is a man of integrity.
Some years ago I invested in a corrupt company, got out when I found out, then noticed they advertised on 321, I let them know what I discovered and sure enough, 321 got them off their site in a couple days