Good Advice,

I’ve stayed away from this market for a year now.

Buy stops 1367. Gold is really pathetic, no reason to buy.
In the last 14 years, there has NEVER been an up move of more that $30 or so.
There will always be time to get in.

Dollar To Da Moon!

Gary Stay Stay AWAY ! https://www.youtube.com/watch?v=AI7-i3UmZ30

Only one thing surprises me, that is, the master Doc has lost his touch. That is the first time I’ve seen that in over a year.

Doc’s recent call for gold to go to 1250.00, went way beyond that and corrected to below 1200.00

He then changed his call to 1190.00. Still no bounce.

So until the master can get his calls back, Don’t touch, imo. If he can’t figure it out, no one can. I’ve been involved in this gold market for over 20 years, and Doc has been the ONLY one with the ability of making short term calls. Period. No one else.

Until his calls start working again, you think you have a chance?

Ron Paul told me in person “don’t trade gold, keep it”. I stick to it. Nobody knows more about the dire financial situation of the Western governments. The long term scheme is print, print and print. The driver is not sentiment in the long run since it average out. The driver is money printing, which is required by the debt we need to service.

I keep focused. Central banks are on our side.

I just watched a video from PDAC from David Morgan. He predicted $1550 gold and $26 silver in the fall of this year. He has a new book out yesterday titled “The Silver Manifesto” I doubt very much that either of these targets will be touched this year without a black swan event. IMHO his predictions are based mostly on sentiment and are irresponsible.

Great speech:
http://www.theguardian.com/world/live/2015/mar/03/israeli-prime-minister-benyamin-netanyahu-address-congress-live

Beware of Dave Morgan, Peter Schiff, Jim Sinclair, Frank Holmes.
They have been terrible.

Dave Morgan in particular, has been so wrong so long. He doesn’t have a clue. His price targets have been so far off the mark.

Just remember no one knows. These self professed gurus are just that. Be extremely cautious.

Gold hit the bottom of its trend channel at $1195 in the early hours of 3/3/2015.
It seems to be weakening within the recent shallow uptrend. It’s a long way from the top of the recent little uptrend which would b at $1232. It looks like traders were trying to break it down in the last day and they were met by strong buying at $1195 for now.
The top of the now forgotten uptrend in force since November 2014 would be at about $1340, just short of the $1347 high of late Summer 2014 and that looks a long way off.

http://1000gold.blogspot.co.uk/2015/03/gold-hit-1195-at-bottom-of-its-uptrend.html

What is happening in the conventional markets is more of interest – are they breaking down now?

I guess you’re right, Big Al Korelin. I better go listen to Nutty Yahoo. He’s gonna want more money for Israel so let me dig deeper into my pocket to see how much more Uncle Sugar can steal.

I made a few buck this morning then headed right for the exits as gold reversed. This is some choppy water that demands technical precision! Unfortunately I’m am far from precise on my technicals so I will take Gary’s advice. At least until that Friday gold take down has passed. Thanks Gary.

WELL the republicans (half of the snake)….folded on immigration and decided to fund HLS…………no guts……….

I guess if you’re trading gold and silver then a move down is chilling. I look at it as another opportunity to buy more at a little cheaper price. I’m not smart enough to trade in these markets and I put a premium on my free time. I look at gold and silver like land to be developed in the future, therefore I don’t have to think about it to long or offend. Being simpleminded has some advantages anyways.

Netanyahu’s speech start at about 18 minutes in:
http://www.c-span.org/video/?324609-2/israeli-prime-minister-benjamin-netanyahu-address-congress

Companies Are Stampeding to Buy Back Their Own Stock: Just Like Before the 2008 Crash

On December 20, 2007, Bear Stearns held a conference call with analysts to review its fourth quarter earnings. During the call, the company revealed that “For the full fiscal year, the company repurchased 12 million shares of common stock at an aggregate cost of $1.7 billion.” Less than three months later, the company collapsed.

http://wallstreetonparade.com/2015/03/companies-are-stampeding-to-buy-back-their-own-stock-just-like-before-the-2008-crash/

Gary,Matt anyone else..

What is the best canadian etf equivalent of dust 3x? and nugt?

Would greatly appreciate it.

Gary… What do you make of THIS:

http://blogs.wsj.com/moneybeat/2015/03/03/could-apple-prove-a-game-changer-for-gold/

Excerpts from the Wall Street Journal article published today:

* A gold version of the Apple Watch could — potentially — use almost a fifth of global supply.

* Each watch may contain less than half a troy ounce of gold, says Mr. Williams. At 50,000 units a month, which some analysts think its a more realistic sale figure, that would mean Apple would have to buy no more than 9 tons of gold a year.

Murk is coming by friday. The longer gold stuggles with 1200 the sooner it will break it.
As i said many times before 1130-1080 is coming and i don’t care what most of you say. Your sentiment is incorrect and until your sentiment will correct to extremely bearish i will be out of this market. When most of you will wine and cry like a little baby i will be buying then for the rally. Thank you and have a good day. lmao.

********* THERE IS SO MUCH BULLSHIT IN THIS MARKET THAT IT IS NOT EVEN FUNNY…………..ASK YOURSELF, REALLY……….WHERE IS ALL THIS GOLD COMING FROM………I MEAN REALLY, WITH CHINA BUYING UP ALL THE YEARLY MINED GOLD SUPPLY EACH YEAR AND ALL THESE OTHER BIG STORIES ON GOLD PURCHASING FROM AROUND THE WORLD AND NOW THIS APPLE GOLD IWATCH STORY AND ALL THIS TONAGE…………..AND ALSO NOT COUNTING THE OVER 100 OR MORE COUNTRIES AROUND THE WORLD HOLDING GOLD RESERVES AS WELL AS OWNERSHIP OF GOLD JEWERY AND GOLD BULLION WORLDWIDE ………I MEAN REALLY…………..THERE SHOULD DEFINITELY BE A SHORTAGE OF SOME SORT BY NOW………AND THE PRICE OF GOLD SHOULD BE WELL INTO THE $3000’s, SURELY. LIKE I SAID YESTERDAY, THERE IS ONLY ENOUGH ABOVE GROUND GOLD IN THE WORLD TO FILL THE WASHINGTON MONUMENT 1/3 OF THE WAY UP…………..SO SOMETHING IS WRONG……..THINK PEOPLE THINK……………..THIS IS ALL BULL…………..SOMETHING IS WRONG !!!!!!!!!!!!! *****************

U.S. Mint American Eagle gold coin sales tumble in February
U.S. Mint American Eagle gold coin sales in February were the weakest for the second month of the year since 2007, and down 77 percent from January, according to data on Friday, as investors eyed the soaring stock markets.

The U.S. Mint sold 18,500 ounces of gold bullion coins this month, down from 31,000 ounces in February 2014 and the lowest for the second month of the year since 2007 when just 4,000 ounces were sold.

Just 81,000 ounces of gold coins were sold in January, the smallest amount for the first month of the year since 2008.

This follows weak full-year sales in 2014, which were the lowest since 2007.

No surprises here, as retail bullion sales continue to be disastrous. Ted says that it’s only JPMorgan buying silver eagles hand over fist that’s keeping their sales elevated like they are

Correct me if I’m wrong, but is gold and silver at or near costs right now?

Here’s a good looking weekly chart of Claude for those of you using the US symbol:
http://stockcharts.com/h-sc/ui?s=CLGRF&p=W&yr=2&mn=11&dy=0&id=p21086830339&a=396899698

Primero tests support… again…
http://stockcharts.com/h-sc/ui?s=P.TO&p=D&yr=0&mn=7&dy=22&id=p52635027586&a=379852816

I only hope that some day, some bored lawyer – pref fem with long legs – slaps some of your pee-pees … guys who don’t know how to use quotation marks.

Go ahead, google it – you Dum Bass

******** ABOVE ALL THINGS THAT ARE SAID ABOUT WHY THIS ECONOMY IS GOING TO COLLAPSE……….THIS IS DIFINITELY ONE AND ONLY ONE REASON THAT YOU KNOW THAT THEY KNOW THAT WE ARE HEADED FOR A COLLAPSE ********* REMEMBER THIS:
http://www.drudge.com/news/184340/congressman-put-wall-street-bailout-into

NOTE: THEY NEVER TOOK THIS OUT OF THE SPENDING BILL, AND THEY NEVER HAD TO DO THIS BEFORE……………..THIS IS HOW YOU KNOW THAT THE COLLAPSE IS COMING !!!

ARE YOU SERIOUS……………I mean is it me………….or am I………..I mean………dose there really always have to be somebody that no matter what, finds a way to disagree with the TRUTH…………..SO BECAUSE OF THAT YOU REALLY THINK THAT IT IS OKAY TO PUT THAT BURDEN ON THEIR BANK DEPOSITORS IN ORDER TO SAVE THEMSELVES ??????????????

Thank you Mathew much appreciated- please keep up the good work.Claudelooks a little heavy here-

This chart says it all:
http://d1we3mgpmos2z.cloudfront.net/wp-content/uploads/HUI-vs-Gold-Ratio.png?d2230e

Time to watch sugar as it hits an important mulit year low this week. Will it fall lower…..or will it bounce from here? The Commercials are net short although not with conviction. This may give us an indication on whether the commodities bear will continue or if prices will turn up in concert with a falling dollar (I am expecting a dollar / euro reversal incidentally) so this bottom comes at a key point.

And then there is coffee….Ouch! Heading straight back to its 2009 lows that were matched in late 2013. Hmmmm. Sugar and coffee. I better go look in on cream now that I am at it!

One of these days soon I want to get into the pension bust that is coming. This is not some pie in the sky worry that might (maybe) emerge one fine day but rather a very real extinction threat that all retirees now face.

This all goes back to the long term rates I often discuss and the eventual conclusion of the bond bubble which is near its termination point. Only a default crisis awaits to touch off the powder and while we do not know from whence it might emerge we do have some pretty good suspects in mind.

When people wondered what would be the real problem with a Greek default i simply noted it meant all of us would pay. Some argued with me immediately and pointed to the fact that most of their debt is held by the EZ, IMF, European banks and the sort.

Their implied point was that actual people, private investors and the like were thus immune because it was obvious that all the burden was being carried by institutions, banks and financial organizations.

They obviously missed the point and did not question whose money backs up all of those groups. The point is that a string of defaults will absolutely and with no doubt cascade across the system and impact on every single class of holders bar none.

Nobody is going to be exempted and none will be immune.

This is a good time to again check your portfolios for content and keep counterparty risks in mind. It DOES matter who you bank with and who are your brokers. It DOES matter what your Mutual Fund is fully invested in because debt is about to get very dangerous and once the clock strikes twelve there will be no escape for those late ot make adjustments.

The other thing that really interests me and I have not touched on lately is how during the last great period of sovereign debt defaults (1928 through 1933), there was a huge levelling across society.

Recall that what was notable during those dark days were that income and wealth inequality were also at record highs (much as they are today) and yet by the time the Depression had ended a more egalitarian society had evolved and a middle class came into being.

So even as millions were impoverished and lost homes, farms, jobs and their bare bone assets there was also an even more substantial correction amongst the holdings of the most wealthy that reduced the severe wealth inequalities that had existed at that time.

I think this will repeat. A global debt default awaits and I cannot imagine it will go any more smoothly than the last time around. But in the process pensions will be badly damaged and the savings of millions will again be wiped out paving the way for an economic rebirth.

Maybe this period of time will bring the debt Jubilee that has been so elusive the past many decades. Just remember that one mans ceiling is another mans floor though and the gains of one group are the losses of another.

Creditors had best beware and ensure they set aside reserves for the cataclysm that is coming because if history repeats or even rhymes the times will change as political and social discord set aside any traditions that have until now been respected. The laws themselves go out the window in the end and recovery is not possible.

We all need to keep in mind that if the Euro has indeed hit a hard bottom (at least for the moment) that is means crude oil prices are about to turn back up and start rising. Not immediately of course because that is just a reaction to a change in what the dollar does (rise versus the Euro), but certainly within weeks.

I recall readily how many analysts were shocked (SHOCKED!) when crude went into a tailspin and dropped so hard. But it was not a surprise amongst currency traders who indeed were anticipating exactly that outcome once a firm uptrend in the dollar was established.

The relationships are not one for one nor are they guaranteed to happen on schedule as some might like but we should never discount the strong traditional relationships between the perceived values of money and commodities.

Even gold could get a bid although I remain skeptical it will benefit that much as it is still in its own down-trending channel. But lets all get on top of the what the dollar does next as it will impact on everything else in the market.

The Canadian dollar for example looks to be near a breakout which is a subtle confirmation that USD is about to roll over thus giving support to resource prices and especially oil. So we should be watching that as well as paying attention to what a falling dollar might benefit (or inflict) on other categories of the market.

What I am talking about above with regards to the end of the bond bubble cannot be adequately understood without reflecting on the past and making a serious attempt to understand history. Once rates have hit zero we are simply out of room to expand credit anymore in an environment of contraction (like what we are seeing now). Debt has also hit its maximum or is near the point of total exhaustion. This is well understood amongst the banking community and most certainly at the highest levels but seems to be a complete mystery to the guy on the street who continues to leverage heavily into the coming period of purgatory. The stupidity of borrowing to buy inflated homes and other assets at a time like this can perhaps be forgiven where Joe Average is concerned and yet no salvation will be offered nor forthcoming to those who have not learned the terrible lessons from the past. We are about to enter a period of reconciliation of the accounts and many will end up losing everything. The highest burdens will be on lenders themselves as the old adage that all debt is eventually paid either by the lender, the borrower or both. And this is why it is doubly important to know what level of reserves your own banks hold because those in the lowest percent range are now at risk. At times like this the Kool-Aid is being drunk by all. The banks themselves, being fully armed with the historical data seem to think they can time the debt correction and escape unscathed. But the past has already taught us many will miss their mark so we must not be complacent in trusting our funds are safe. The Greek threat to walk away from all its debts meanwhile is just a shot across the bow. An early warning sign of what is coming. I suspect they will indeed default although it will not happen this year. But other threats are emergent and the mood of the public needs to be taken into account. Traditional political views are coming under pressure. Old ideas will be swept away. We can be confident that as stress builds that the electorate will have the final say in democratic countries and the mobs will hold sway everywhere else. These are going to be tough times I suspect and the old guard will be replaced with social and political radicalism that is even more dangerous. What can we do but watch and keep our heads down as the dram unfolds and trillions in pension savings across the globe are evaporated along with the deb that enabled thier creation. It is all tied together.

Oh dear or My Gold is dropping again !

Glen, were you looking for Canadian Gold plus ETF Bulls and Bear funds?

HorizonsBetaPro S&P/TSX Glbl G Bear+ ETF (HGD.TO)
HorizonsBetaPro S&P/TSX Glbl G Bull+ ETF (HGU.TO)

Looks like DUST is the buy right now.

So once again I want to refer those present to the very long term chart on interest rates and then to ponder those times in the past where we have seen them fall to deep secular lows. The coming debt deflation experience of this generation of people is not just one that has been developing for the past 85 years since our Grandfathers Great Depression. Not even close. In fact this particular event has been centuries in the making and we are now at the point where a vast reconciliation is upon us. There will be winners and there will be bitter losers. We had best be aware of those analysts who have taken the trouble to point out how the cyclical behavior of this one single chart is about to open everyone’s eyes and remind us of what is truly value and what is just washing powder trying to clean up the sins of the past. I will tell all of you that I am deeply worried. The reason is that the coming “correction” will not be the usual recessionary experience but rather an historical event not seen in hundreds of years. Demographics and the incumbent extremely high asset values will play a starring role as symptoms of a much deeper sickness where unrepayable debts and obligations are concerned. Money finally matters again. And no, I do not just mean the typical assortment of financial instruments that are so commonly held but rather the earning power of business that throw off an income stream no matter how pitiful it may be during the darkest days that are coming. Money, or rather real income, matters more now than at any time in the past many years. For anyone still paying attention and who is not distracted by the blather of this or that miscellaneous metric that seem so all important each day, you need to know only one thing; this is the termination point of a credit bubble of quite epic proportions and if you cannot service the associated debts you accumulated during the next downturn then you will be a victim of the event, not a winner. Leverage has never been more dangerous. Debts have never been such a risk to our ability to survive the collapse of peak debt that approaches.

Bird,
You bring up many good points regarding history repeating.

I do think the dollar is about to roll over. And that will start the ball rolling for the swiftly changing events.

I’ve been following the exit of the Bretton woods agreement and the new BRICS system. It looks as if there will be a restructuring of assets, debt and a whole new financial system. It will be a new liquidity creating event globally. I think the only way the fed can raise rates (and they will soon) is for this new system to roll out. Creating a new liquid system where the economy gets a boost. The only way for the fed to raise rates is when the housing and auto industries show better numbers. Something’s got to happen soon.

I do think we are going to still see the bond bubble later this year which causes the conventional stocks to plummet. And there will be no QE to back up the markets. Joe six pack and the masses will have their 401Ks drained yet again.

And then the people will demand a governmental change.

Certainly interesting times…

I just bought GDXJ at 25.38 and added to two other junior miner positions.

Don’t know yet how long I’ll be in the trade. Hopefully a long time 🙂

No email yet… 😐