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In spite of gold’s surge today, Gary is not optimistic.

Big Al
April 27, 2015

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Discussion
169 Comments
    bb
    Apr 27, 2015 27:16 AM

    1. Claude Resources (TSX:CRJ); up 100 percent to $0.63 year-to-date

    Currently, the main producing asset for Saskatchewan-based gold producer Claude Resources is the Seabee gold operation in the La Ronge mining district. Seabee consists of two producing mines: the Seabee gold mine, which has been in operation since 1991, and the Santoy 8 gold mine, running since January 2011.

    At the start of the year, Claude reported the best operating performance in its history, with a 44-percent increase in gold production for 2014 compared to 2013, largely driven by a 43-percent increase in gold grade at its operations. Notably, Claude was also the fourth top-gaining mining stock on the TSX for 2014

    Was some interest here for Claude, I thought it was interesting you guys were picking one of the best gainers out there.

    Gold up over 1200 at the moment, shares I watch/own have barely moved if at all, just kinda indicates to me the move isn’t trusted.

      Apr 27, 2015 27:37 AM

      bb
      Claude is being capped here at $US 0.53. One reason might be a LARGE seller at these levels. If this resistance breaks … the upside will be very large and very fast.

        Apr 27, 2015 27:39 AM

        I think that folks are taking profits where they are available.

        Apr 27, 2015 27:06 PM

        Good points BB & Brian.

        I became an investor in Claude (again) because of my conversations with Matthew on this site back in 2013. I held for a few years and averaged down twice, but ended up making a very nice profit on this recent upturn in Claude’s shares. The vast majority of my trading account is for that – trading, so it is rare that I will hold an equity for years. (My long term investments are in my 401K, real estate, jewelry, and metal coins).

        With Claude a few of us noted regularly that we saw management taking the right action to improve things at their operations at their Seabee mine. Then with the additional resources at Santoy Gap starting to make a nice contribution, I knew they were worth the candle. I remember watching when they poured their millionth ounce of gold to a marketplace that went “ho-hum” and it actually tracked further down afterwards. It was just a matter of time the results starting becoming more obvious from all the good activity they had been doing since 2011-2013 caught up with them. 2014 was the year.

        While many note that they just did a “turnaround”, and that is somewhat true, I would argue that the turn-around has been 4 years in the making, (and in the middle of a declining Gold price and terrible bear market). Just think how things will go when the Precious Metals markets turn around!

        I like companies like Claude and Klondex for just those reasons, and really enjoyed the statements from Cory and Louis James over the weekend show about the strength and upside of the small to mid-tier producers that still have exploration upside.

        This is and has been a great place for networking and sharing great ideas, analysis, industry news, stock news, trades, and points of view to at least consider.

        Thanks Al & Cory for all you do. Thanks Doc for recommending Claude to the larger audience, and most of all….thanks to our old pal Matthew for getting us all mixing it up about Claude for years in the first place. If I remember correctly, it was his updates that got Doc and Al to take a second look.

        Cheers and good luck to all in your investing this week…..and the much anticipated Wednesday news charade.

      Apr 27, 2015 27:39 AM

      I agree bb. Listen to what Brent Cook also has to say.

      Big Al

    Apr 27, 2015 27:17 AM

    Where are all the gold bears ???

    Gold was all but going down and finished.

    Very nice bull raid ….AND BEAR TRAP. ๐Ÿ™‚ trapped them good

    Just because gold is trading sideways for
    now does not mean its going to a 1000.

    In fact, could be positive into June.

      Apr 27, 2015 27:33 AM

      Not only that a nice dent in Harry’s Dents ridiculous
      predictions. That was a nice move in gold,

      The weekend comments all producing gold bear propaganda
      were all preposterous and with no merit.

      Hall Of Shame crowns should be distributed. I might pass them out

        Apr 27, 2015 27:42 AM

        There are some real bulls on our site, Michael Belkin for one!

      Apr 27, 2015 27:35 AM

      HE,HE,HA,HA……..SHORTY GOT CAUGHT…….

        Apr 27, 2015 27:48 AM

        Yep ๐Ÿ™‚ Gold looking bullish to me. Very nice move.

          Apr 27, 2015 27:49 AM

          ๐Ÿ™‚

            Apr 27, 2015 27:50 AM

            Must be those folks in CLEVELAND, buying before they go CASHLESS.

            Apr 27, 2015 27:54 AM

            Putin just loaded up last week. You safe in Moscow..Frank

            Apr 27, 2015 27:03 AM

            Me ok…………. ๐Ÿ™‚

            Apr 27, 2015 27:37 AM

            Having ridden Allied Nevada from $40 down to 10 cents, I am well on my way to a cashless condition.

            Apr 27, 2015 27:40 AM

            :)……. 10 MORE CENTS AND YOU ARE THERE.

            Apr 27, 2015 27:49 AM

            I should’ve bought more ANV@ 10 cents as it is 22 cents today! And even if it goes to zero, I still have nice profits in FNV, RGLD, SLW, GG, NEM, CEF, and XOM, so I am not CASHLESS yet!

            Apr 27, 2015 27:52 AM

            Hang in there, you are doing fine……. ๐Ÿ™‚

            Apr 27, 2015 27:24 AM

            Fourty dollars to ten cents? Wow! You don’t hear that very often.

            Apr 27, 2015 27:13 PM

            Bonzo….You’ll be fine long term with the other stocks you mentioned you have:

            FNV, RGLD, SLW, GG, NEM, CEF and XOM —–> not as likely to go to $0.10 ๐Ÿ™‚

            I love the streaming companies like Franco Nevada, Royal Gold, and Silver Wheaton. I’d throw in Sandstorm Gold now, as they are getting their act together as well.

            Apr 28, 2015 28:02 AM

            I do own Sandstorm too, but at a big loss right now. I wonder if their Mongolian royalty will ever pay off?

            Apr 28, 2015 28:17 PM

            Well I keep swing trading Sandstorm, and while I am up overall, there have been a few times I was caught off-guard. Currently I have a small position that is doing well and profitable and I was debating selling today or holding until Wed/Thur to see if we get a pop in PMs.

            I am not sure on the Mongolian royalty, but feel extremely confident in Nolan Watson and his team of researchers and financial advisers at Sandstorm. For instance, their recent diamond mine streaming agreement, the package of Net Smelter Royalties and Stream agreements they just acquired, and their folding Sandstorm Metals back into Sandstorm Gold were all diversified risk and will pay off in the mid to long term. They already have far more assets than most mining companies, and a wad of cash to make more acquisitions when they feel the market has bottomed.

            All the streaming companies are undervalued now, and when people wake up and finally understand the genius of their business model, they’ll be the most expensive and reliable stocks in the industry in 5-10 years.

            Apr 28, 2015 28:40 PM

            Thanks, Shad. I’m holding on to my SAND for the long haul. Do you think these royalty companies will have any trouble enforcing their streams to buy gold @400 if it goes to 5K or 10K? May wind up in court.

      Apr 27, 2015 27:41 AM

      Man, who really knows at this point? I would like to think that you are right but this market needs some legs for me to get excited.

    BDC
    Apr 27, 2015 27:18 AM

    Monthly & Weekly GLD as of April 24th:
    http://boardmanland.blogspot.com/2015/04/gold-gld.html
    Note the significance of the long term up-trend line.

    Apr 27, 2015 27:20 AM

    I’ve been hearing about these lower lows for a while, haven’t seen them yet. Still in these manipulated markets anything can happen.

    What if the LOW was in November ?

    As Pierre Lassonde said:
    I turned bullish about the end of October after someone dumped $1 billion worth of gold at 2:00 a.m. to try to smash the floor price.
    It didn’t work because the Chinese and the Indians bought all they could get their hands on. That was the turning point that showed a floor was in, and 2015 is going to be sideways, with the surprise likely to be on the upside.

      Apr 27, 2015 27:04 AM

      Gabriel
      I would beg to differ. Gold made a lower low at $1131. It has a date with another lower low either this fall or next spring. That would be the major 8 year cycle low. Once that is complete gold becomes a long term hold.

        Apr 27, 2015 27:51 AM

        Good show Gary. You and Al seem to understand the thought processes of the hard core gold bugs pretty well. They are indeed mostly emotion driven. I have long contended that they damaged this market (and the industry) with all their constant talk of conspiracy, manipulation and price suppression.

        Nobody normal wants anything to do with gold. Some of those bugs are quite convincing. How could a novice or bystander possibly sort through all the conflicting stuff they have written? I mean, to a newcomer, gold just looks downright dangerous and fraught with hazard.

        Thankfully almost all the crazy bugs are now gone!

          Apr 27, 2015 27:57 AM

          No, bugs are not crazy. Not at all

          You have a debt based currency.

          Wealth in computer digits on a computer screen.

          USA is bankrupt. GOLD IS DIRT CHEAP.

          Keep your USDX ..Fill Dirt. Thats all your going to have.

          Big ..FAT. ..-0-…blame yourself too.

          Apr 27, 2015 27:15 AM

          “NORMAL” slander as usual. Normal people are broke, and have to have someone tell them what to do….. ๐Ÿ™‚

          bb
          Apr 27, 2015 27:17 AM

          I have come to appreciate Martin Armstrongs views of capital flows.

          Apr 27, 2015 27:10 PM

          I beg to differ, using Gary’s terminology above. There are still a number of snake oil salesmen out there, Bird!

          Apr 27, 2015 27:42 PM

          Birdman–Greenspan once stated that upon arrival to work each morning, first thing he did was checked the price of gold. Gold is the canary in the coal mine. Money changers have been around since the time of Jesus. Nothing will change this until people like you wake up to their manipulative ways. Nest time you make fun of gold bugs, remember that gold can’t be created out of thin air. What’s so funny about that?

            Apr 27, 2015 27:55 PM

            Not all of us put much stock in the conspiracy narratives, Jane. I am one of them and part of the reason is that I have had a very good run judging where metals prices are going based on the technicals I watch. So if technicals are indeed predictive does that not suggest that manipulation is less of an influence than most people assume? Would it not be fair to assume that price changes would not follow chart patterns if there were really a lot of management in these markets?

            Gold fell because its bull run ended. Simple as that. It will rise when the bottom is hit.

            Apr 27, 2015 27:34 PM

            Hang in there JANE………

        Apr 27, 2015 27:18 AM

        I thought you used to say it was a 7 year cycle. When did it change to 8?

          Apr 27, 2015 27:27 AM

          next year it will be 9

            Apr 27, 2015 27:17 PM

            ๐Ÿ˜‰

          Apr 27, 2015 27:31 PM

          Gold failed because of all those billion dollar contracts dropped on the gold market. A firm in Chicago already caught this in progress two years ago when this huge contract got dropped and then got cancelled before order actually went through. Too late for gold on that day because damage was already done. Another thing, you say that you apply technicals to gold trading, then you’re either a novice, or just lying.

            Apr 27, 2015 27:58 PM

            Birdman–sorry got mad. Shouldn’t have called you a liar. You can apply technicals when trading gold, but so far. To me, trading gold is like playing cat and mouse.

            Apr 27, 2015 27:12 PM

            No problem Jane. I have been called worse. Only been at this game for some decades now. Who knows, maybe that does make me a novice!

          Apr 27, 2015 27:18 PM

          Many people use a 7 year cycle Peter.

            Apr 27, 2015 27:32 PM

            That’s why I’ve been postulating the lows would be later this year. It will be exactly 4 years to the Bear market in September, so 2015 is still a likely place to see the major bottom in Gold.

            2016 is still possible also Gary and Doc state, but then again, so is the comment from Gabriel that “What if the LOW was in November ?”. People like Matthew, Glenfidish, and Brian “the Novemberists” aka “The 79ers” feel that could still be possible, and so far it has not been negated. The 1131 Gary referenced above was in November and is the low that Gabriel was pointing out that still may end up being “The Low”.

            Personally, I think we have one last wash out coming, and originally I thought it would be the end of April/May downturn that carried into June. The premise was a stronger dollar. Only recently, did see the light that the dollar was not going to get to 110 until later in the year, did I rethink my position to the Gold and commodity lows being later in the year.

            I’m building some positions in stocks I like, because the miners have been showing us since the end of 2014 that they want to move higher first and there is some real value in some of the quality companies.

            The probability is that we will get this final wash out in sentiment and hit new lows in the next 12 months and I am favoring the next 4-6 months as the most likely. If this happens, then I’ll be buying the metals and the miners very aggressively. Again, it would be nice to go ahead and get it over with and rip off the band-aid.

            Apr 27, 2015 27:34 PM

            I would add the article from Dan the Trader that Birdman posted last week was very informative on the 10 year note tracking with Gold much more closely than the US Dollar, so I feel watching the interest rates on the 10 year will provide better direction as to the timing.

      Apr 27, 2015 27:09 PM

      There certainly does seem to be some great support.

      Conincidently, I just got a call from a friend in Arizona who wanted to discuss gold. He is more than just a little bullish because he is convinced that a new reserve currency is on the way.

        Apr 27, 2015 27:14 PM

        Imagine a global electronic currency that works off your phone, GPS and other location data. You could pay for anything seamlessly anywhere at any time no matter what country you landed in because all the conversions would be done automatically into the local funds.

        You would never have to do the currency exchange thingy anymore. Never have to bother with pen and paper calculations. Never have to pay exchange rates or even get stuck with worthless money on departure.

        Your mobile phone would just switch it all up on the fly. You could do five countries in a day across the Mid East and never think twice about differences in currencies, cash or coin.

        Just step up to the counter in any old airport you happen to land and order lunch as if you were still home and the phone would tell you how much you paid in dollars but would actually send the money in the other countries format.

        No muss, no fuss, no hassles…..and no robberies for cash either. Cashless is kind of cool.

          Apr 27, 2015 27:48 PM

          If your phone is on vibrator , does that mean you are getting a shake down.

    Apr 27, 2015 27:25 AM

    Venezuela sold off 1billion dollars physical gold in a market that does not have physical gold to sell. Who bought is a happy man…
    http://www.reuters.com/article/2015/04/24/venezuela-cenbank-idUSL1N0XL0TY20150424

    Apr 27, 2015 27:27 AM

    When gold moved down last week there were three distinct downward impulses, followed by a gradual, slow upward movement. Today’s upward impulse had a $10 move in 6 minutes. This feels a bit different to me.
    Brian

      Apr 27, 2015 27:16 PM

      The validity of gold is demonstrated by the Venezuelan action, isn’t it!

    Apr 27, 2015 27:29 AM

    Gabriel good Lassonde quote!
    Having said that, now that Citibank owns 1 billion of Venezuelan physical gold, won’t they be beholden to their Fed/Government money printing buddies to use that to smash the gold price latter when they see the opportunity???
    I know this might be another one of my cynical takes on this pop in gold, but I don’t trust those gangsters! If anyone reading this who has a solid contra argument I would like to see it laid out here in this thread or on the show today. Thanks in advance.

      Apr 27, 2015 27:44 AM

      Citibank does not own the gold. The gold has been pledged at a discount price as collateral against a dollar loan. Citibank will collect if for some reason Venezuela cannot pay or it begins defaulting on its debts. Odds are excellent they never see that metal again the way they run government finances down there.

        Apr 27, 2015 27:17 PM

        Important clarification, Bird.

          Apr 27, 2015 27:04 PM

          I don’t know how anyone can live in that country. What a nightmare of a system. But I guess Doug Casey and the gang do OK because they transact in dollars and American credit cards. For the locals though it must be awful.

      Apr 27, 2015 27:45 AM

      I have another one for you :):
      99% Of People Don’t Know When They’re In A Bull Market – Eric Coffin

        Apr 27, 2015 27:03 AM

        This is a bull market? … who knew eh?

          Apr 27, 2015 27:13 AM

          I knew. I said so on November 6, the day of the low.

            Apr 27, 2015 27:20 AM

            good call…….BOB.

            BDC
            Apr 27, 2015 27:24 AM

            The odds are better that you’re right than wrong;
            however, a break below that means much lower!

            Apr 27, 2015 27:33 AM

            Hi Bob.

            Apr 27, 2015 27:44 AM

            Novemberist !

        Apr 27, 2015 27:39 PM

        Gabriel, by any chance are you Matthew?

      Apr 27, 2015 27:17 PM

      I assume that you are referring to a covered short!

    Apr 27, 2015 27:31 AM

    Gary
    I may have missed something – you mentioned a 2-3 week upward movement in the PMs. Did you state a target range for the near-term maximum in gold or silver?
    Brian

      Apr 27, 2015 27:05 AM

      Brian,
      I have no idea as to a target

        Apr 27, 2015 27:32 AM

        Fair enough. Neither do I.

          Apr 27, 2015 27:45 PM

          nobody does…. but we can postulate based on fibs, options and future contracts, and prior technical resistance areas that 1221-1222 and 1239 are the first resistance points.

          Like any resistance area, these could get taken out on an upswing, but pricing will usually will stall out in these areas because of congestion from stop/limit orders, of r prices will approach and recede, or prices will flat out turn at resistance points and resume the larger directional trend.

            Apr 27, 2015 27:48 PM

            Things have built up a lot of pressure in this sideways channeling, so when things break, up or down, it should have a lot of momentum. Wednesday/Thursday may tell the tale……..

      cmc
      Apr 27, 2015 27:51 AM

      At this level, after the jump up today, gold miners are trading near the top of the month’s long trading range, not near the bottom. I am cautious here.

        Apr 27, 2015 27:21 AM

        FOMC starts tomorrow.

          cmc
          Apr 27, 2015 27:58 AM

          And GDP report too. Looks like the markets placed their bets on the news today.

            Apr 27, 2015 27:19 PM

            Good point guys!

    Apr 27, 2015 27:31 AM

    The contra argument is that they bought the gold. You don’t buy gold unless you think the value is going to increase.

    LPG
    Apr 27, 2015 27:42 AM

    Hope everyone had a good WE.

    Reading the ongoing comments on cashless society and AFTER just reading something on Martin Armstrong website (giving credit where it’s due), it would seem to me that ONE of the catalysts for gold/silver for them to move up again in the next few years are probably going to be the slow move to cashless societies.

    Many some of us think cashless societies are bad for precious metals.
    I actually tend to think it’s EXACTLY the opposite, as long as – stating the obvious – there are no risk of confiscation from governments.

    Here’s the rationale for my views:
    For anyone with a good amount of LIQUID assets… what are the alternative ?
    1) IF cash in a bank is increasingly subject to negative rates
    2) IF cash withdrawals are increasingly restricted
    3) IF cash is increasingly a dying beast…. then it cannot be “held under the mattress”

    What’s left as alternatives are basically real estate, art/collectable items, equities, diversified FX/money market funds, bonds, and precious metals/gems (stones).

    I) Real estate doesn’t fit the bill as it it not very liquid and can be very sizable (high price tag) in currency terms,
    II) Art is not very liquid… and can be very sizable as a price tag too.
    II) diversified FX doesn’t fit the bill either as if it is held in cash, it’s an issue (remember: cash is dying). If it is held in a bank, it could be subject to negative interest rates
    III) bonds don’t exactly fit the bill: wait for the cycle to slowly turn up… and people see the value of their bond portfolio turn south slowly slowly every month… and it’s not going to be an incentive to rush into that asset class

    SO:
    A) stocks might be a good fit, and might be what will continue to push the market higher (slowly: a bid from retail investors who will feel kind of forced to participate). But stocks holdings are still held with a broker… with all the potential risks entailed
    B) precious metals or gems (stones) are a perfect fit: costs nothing to hold, are decently liquid, and have no counter party risk. The advantage of precious metals vs. gems (stones) is their standardization (999 or 999.9 gold for example vs. stones have different levels of purity so people with little knowledge about them can easily be fooled).

    Just my 2 cts.

    LPG

      Apr 27, 2015 27:49 AM

      Good reasoning LPG. Not a bad argument at all. I would agree that the advent of a cashless society could end up being one of the biggest drivers for gold in the future. Depends on how quickly cash evaporates or if the public feels coerced and pressured. There just are not any near alternatives. Good God…gold could even become money again!

        Apr 27, 2015 27:53 AM

        Uh oh..you bullish….time to go..SHORT ๐Ÿ™‚ j/k

        Welcome to the Gold Bug Society.

        The perks are your money is safe.

          Apr 27, 2015 27:54 AM

          No seriously, HH….he is correct. That is probably the best reason I have heard in four long years to acquire physical precious metals. A cashless society would be a game changer.

            Apr 27, 2015 27:06 AM

            Just tell me where your going to store it.

            Actually you better be careful. I believe
            we will see massive defaults.

            You must take personal possession.
            Thats the most difficult part owning.

            Even a safe in the home is very risky.
            When the choas hits homes will be
            searched and they will find the safes.

            Its not difficult to locate the treasure.

            Apr 27, 2015 27:19 AM

            Been there and done that HH. It’s not my cup of tea anymore. I like online investing. It’s easy as snap to buy physical gold held in a fund and locked in a vault on somebody else’s premises. Anyway, I don’t personally have any other good options. Physical metals are atrociously priced over here. The premiums are just stupidly high so its a waste of time. And there are a lot of Chinese fakes floating around. Total crapshoot.

            Apr 27, 2015 27:32 AM

            Bird…Thats the problem is possession can totally agree.

            Online is convenient but with major defaults we could
            experience you could get burned. Too much lawlessness.

            The new paradigm I see will not be friendly. Growing food
            and land is another good option. Keep an open mind.

            All tough choices. No easy answers. Especially with physical
            not available to you at reasonable cost. Or you could take up
            midnight gardening. Diamonds might be a good alternatives.
            Very easy to hide and secure. The best concentrated wealth
            on earth. Very mobile and undetectable.

            Apr 27, 2015 27:51 AM

            Sorry, but I gave up worrying. Too much damn stress and none of the predicted disasters are within my control to do anything about. If i buy online and get screwed that’s just the way it goes. Guess I will roll with the punches.

            What the heck is midnight gardening?

            Apr 27, 2015 27:06 PM

            Its a hassle. Thats for sure.

            Midnight gardening

            http://www.youtube.com/watch?v=WDuBkyvB9FU

            PM storage. Only done late a night.

          Apr 27, 2015 27:21 PM

          Heavy, you anywhere near Big Canyon Golf Course. My nephew wan as assistant pro there a while back.

            Apr 27, 2015 27:46 PM

            A short skip and a hop !!! Your nephew had a nice job.

            Fashion Island is a place for hangin out. Enjoy good food.

            Whole Foods in there now. Wahoos fish joint is my pick.

            Low prices and healthy fish in the diet. Not so shabby !!!

            Its a metropolis prestigious area. Purdy snobby.

            Relaxing though and highly safe….

            Apr 27, 2015 27:02 PM

            Al is zeroing in on your location. Next question is about your ZIP code! Watch out for drones.

            Apr 27, 2015 27:13 PM

            You know what the best trick is for the thieves.

            Always have the fools gold in a place when you have
            to fold under questioning.

            Ha..Ha..works everytime. The laughs alone is worth
            every minute. You might have to get out of dodge
            though. ๐Ÿ™‚

            Apr 27, 2015 27:19 PM

            I can see you on Google Earth, man. You are the guy gardening by moonlight while all others sleep. I can almost make out the shadow boxing.

            Apr 27, 2015 27:59 PM

            Funny you mention Moonlight…got a beach called Moonlight
            where all the mermaids hang out.

            Looks like 1200 gold is magnetic. Purdy comical bulls and bears
            can’t get traction. Making fools out of everyone. Buy on dips
            sell on rallies. HFT…in and out.

            Apr 27, 2015 27:13 PM

            The range is 1220 on the high side, and we might see
            that soon. 1180 on the low. Give or take a few.

            For now anyway. Sideways until proven otherwise.

            No use to get..cute !!!! Been on this sideways train for
            almost 5 months as I predicted that long ago.

            What a waste of time and money chasing this thing in
            both directions. Thats what people do. And the dreamers

            YIKES !!!!! KWN ETC.

        LPG
        Apr 27, 2015 27:57 AM

        Well…
        If Birdman thinks it was a good “reasoning”, I will START to think that MAYBE what I said MIGHT, under SOME circumstances, POTENTIALLY, make SOME KIND OF what could RESEMBLE VAGUELY to “sense”.
        ๐Ÿ™‚ ๐Ÿ™‚ ๐Ÿ™‚
        Hope all’s well Birdman,
        Best as always,
        LPG

          Apr 27, 2015 27:02 AM

          JUST SWINGING , AND swaying as the wind blows……..

          Apr 27, 2015 27:06 AM

          He’s just trying to pacify everyone to help soften
          the blow in his gold bear propaganda in favor of
          helping his image. Can’t look too bad when your
          retired in here. Its a temporary opinion from him
          and will be right back to square one once gold has
          a bad day. Going on for years.

            Apr 27, 2015 27:09 AM

            DITTO

            Apr 27, 2015 27:12 AM

            IF I was him, I would be thinking of leaving Africa, with the South African change in attitude. New leaders are on the rise and taking no prisoners.

            Apr 27, 2015 27:15 AM

            You right Frank. .in two words..

            You did it again.

            Swingin and swayin. Mucho ๐Ÿ™‚

            Apr 27, 2015 27:21 AM

            Frank, do you have any idea how big Africa is? There are 54 unique countries here. Different languages, cultures and religions in each place you go. You cannot find a more peaceful place to live despite all the bad new you might recall from history. And it is positive, youthful and energetic. Nothing at all like that retirement village that goes by the name of Florida.

            Apr 27, 2015 27:23 AM

            ๐Ÿ™‚

            Apr 27, 2015 27:31 AM

            BIRD, we will send O back and Hillary will send Bill for your next installment of peace.

            Apr 27, 2015 27:35 AM

            Too late, they have already been here. And they are quite popular in these parts.

            Apr 27, 2015 27:46 AM

            That shows you how bright the country is

          Apr 27, 2015 27:12 AM

          I was being very serious LPG. You made an excellent argument and it is one I happen to agree with. You probably have heard me say I don’t bother with physical metals anymore. Too much hassle and you always get dinged on the premiums and suffer a loss on sales.

          But if we really are going cashless (I happen to think we are far closer than most imagine) then that change would lend considerable weight to an investment decision to hold physical precious metals again.

          Not only that but the stature of gold and silver coinage would abruptly be altered in the minds of anyone paying attention and it is likely that metals would trade informally as money (oh no!!!) in the absence of paper currencies.

          In other words……gold would become money again. It might even go mainstream. So this is all pretty interesting stuff to me. We may have as little as ten years to accumulate before a true cashless economy evolves (or is imposed on us during an economic meltdown).

            Apr 27, 2015 27:27 AM

            CLEVELAND, THE INDIANS are NERVOUS …. no cash for the hot dog vendors and any balls hit over the wall will need to be returned so they can play a double header.
            CASHLESS, and the ball boys will not pick up the bats. JPmorons.

            LPG
            Apr 27, 2015 27:14 AM

            Birdman,

            Interesting thoughts.

            Personally, i don’t even go as far as thinking that gold would be what you refer to money. It might become (ie you might be proven right) but I don’t (need to) include this point into my thought process or when I make my investment case.

            My thought process is just that IF one of the avenues for holding wealth (CASH in paper form) disappear, then
            1) the capital which was invested in paper cash has to find another form
            2) some owners of cash ON BANK ACCOUNTS might become a bit uneasy with holding their cash with banks as they will increasingly realize that this is a big TRAP (and if banks fail, well, there’s no way out)
            3) given the liquidity (depending of countries where one resides, i understand), small price tag (vs. real estate, art) and the absence of counterparty risk, then PMs and gems/stones would be an avenue of choice for the capital to be redeployed.

            FWIW, I tend to prefer PMs over gems/stones as PMs are more standardized (gems have various degrees of purity etc…no official market prices to refer to for buyers/sellers except for ex. some weekly prices for certain types of diamond purity etc..).

            Again, my 2 cts.

            LPG

            Apr 27, 2015 27:26 PM

            LPG will be doing a Daily Editorial on this with us on Wednesday.

            Apr 27, 2015 27:59 PM

            Fantastic. I love this subject.

      LPG
      Apr 27, 2015 27:53 AM

      Actually, the more I think about it, the more I think that a cashless society is one of the best/biggest “gift” ever given to precious metal holders.

      I might be totally out of my mind, but I can’t help take this thought out of my head.
      I know that things seem so far with the percentage of ownership of gold within investors and population being so low etc… BUT BUT BUT…
      never forget that ONCE the paradigm/the narrative start to shift… then the price will change for liquidity will move.

      If gold spot price was WAYYYYYYY above the cost of production of so many producers, I wouldn’t be so excited. But the blessing is that at $1200, we are quite below the cost of production of many… or just there.

      Simply put, I cannot stop but thinking the perfect storm is coming. I don’t know if it will take 2days, 2mths, 2 yrs, 5 yrs… but the ASYMMETRY of risk of holding precious metals is so large at the moment (when taking a few years’ horizon) that it just, IMHO, makes total sense to own some as part of a total wealth/portfolio.

      Main risks for PM holders: confiscation, and high taxes (but alternatives such as real estate, equities, F.I are also taxed when gains are realized).

      Again, my 2 cts.

      LPG

        Apr 27, 2015 27:31 AM

        Agree 100% LPG. I would only suggest you document your purchases carefully and keep accurate records for investment purposes so that you don’t run into trouble in the future.

        Without freely available cash, gold and silver will become the Lingua Franca of the underworld and black markets. It will be how corruption is paid, how terrorism is financed and how the bad guys will stay in business.

        In other words, the venues for doing exchanges in the dark trades will be narrowed significantly to physically tradeable goods like gemstones and precious metals and anyone caught with undocumented proto-currencies will most likely come under suspicion or face confiscation.

        Just saying…that’s how it works these days. Nothing is likely to change in that regard except gold hoarders will come under suspicion merely because they are trying to operate under the radar and off the grid.

        It is ALWAYS the exceptions that get the hard attention, not the average guy on the street.

          LPG
          Apr 27, 2015 27:04 AM

          Birdman,

          Thank you for your concerns.

          I have all receipts of my purchases – which have all been processed out of the Middle-East.

          And FWIW, all the transactions I’ve done in PM metals are in an Excel spreadsheet (w. the spot price when bought and the premium paid each time as it varies). I do this not only for listing of transactions purposes but for calculation purposes ๐Ÿ™‚ (daily MTM of the value of my portfolio holdings, including the PMs).

          Best to you,

          LPG

            Apr 27, 2015 27:13 AM

            Good move LPG. I will do the same should I acquire metals. Probably the best bet for someone like me is share ownership of a physical backed fund like CFS, Sprott or the myriad of overseas vaulted gold available to be held in pensions. Who needs the damn problems. If they confiscate one day or levy large taxes I will just get paid out or taxed like everyone else…..end of story. And no big interrogations needed!

        bb
        Apr 27, 2015 27:47 AM

        I like your thinking LPG.
        To my mind its negative interest rates that should impact most.
        The “average” guy tho, will prefer silver I think, gold being too pricey.

        David Morgan is the only guy I have read that tried a guess at how much silver a household would require to get past the “event” “big bang” etc
        He came up with 200 onces.
        As good a guess as any I think.

        5-10% gold of investible income per month still sounds good to me.

        Marshal Swing on the other hand, @ Silver Doctors today.
        “My solution to the coming global economic collapse is to convert ALL YOUR PAPER MONEY and any you can get your hands on any way you can, into physical silver and gold before September at ANY PRICE.”

          Apr 27, 2015 27:57 AM

          So about 3300 US dollars at todays prices. That does not sound like a lot. David must be predicting a huge price burst or he would have come with a bigger number.

            bb
            Apr 27, 2015 27:24 AM

            Morgan is only talking about the amount required to get past the expected turmoil.
            But things will get worked out, its not the end of human kind. lol

            Remember, anyone with about 200 onces more than likely has more than any other kid on his block.
            There are also other things that may be required.

            Apr 27, 2015 27:29 PM

            I would guess that the number would have to be SUBSTANTIALLY HIGHER than 200 ounces!

            Apr 27, 2015 27:59 PM

            Yup, sounds like a pitiful small pile to me too. Not even enough to buy a used Honda Accord.

          Apr 27, 2015 27:09 AM

          Just read Armstrong’s article. He said something I thought was pretty interesting. It was this sentence.

          “The traditional mumbo jumbo is dollar up, gold down. However, we may be entering a completely new phase. Gold and the dollar may no longer be archenemies. They are actually now moving to the same side of the fence, for the common enemy is the rapidly approaching electronic money, with so many analysts at banks now calling to abolishing paper money”. — M. Armtrong
          ———————-

          People tend to forget that there was a time when gold and the dollar virtually always moved together for they were one and the same. Francs might move up or down against the US dollar but in fact they were moving against gold. These days the popular thought is that dollars and gold run inverse to one another. When that stops we have to ask why and what is happening to cause them to move in sync again. Where paper money was that anti-gold of the past decades, Armstrong is saying here that both gold and physical dollars may become the forces that oppose a fully electronic network of financial transactions and E-money that is coming. But what rises together also falls together so don’t forget that part of the equation.

            LPG
            Apr 27, 2015 27:27 AM

            Birdman,

            The Armstrong article you are referring to is the one I read today and that made me go “Dingggggggggggg” ! (Imagine a light bulb popping up above my head ๐Ÿ™‚ ๐Ÿ™‚ ๐Ÿ™‚ ).

            Best to you,

            LPG

            Apr 27, 2015 27:56 PM

            Great catch LPG. It was the smartest comment of the month. You are onto something.

          LPG
          Apr 27, 2015 27:25 AM

          Hello bb,

          Hope all’s well.

          Both silver and gold are good to me. I hold them both, which I refer to when I mention PMs.

          I don’t own any platinum or palladium as the premiums on these, where I can find them, are about 10%. (10% when buying, then selling at 10% below market price). So I’m not so game in giving up 20% in transaction cost “upfront” for those transactions (10% upfront, and 10% at some point in the future if/when I decide to sell).

          Best to you and GL to all investing/trading.

          LPG

            bb
            Apr 27, 2015 27:54 AM

            Hi LPG
            Alls well,hope for you too.
            I don’t own, Platinum or Paladium either.
            I have all the silver I want and am happy with 5-10% gold on a monthly basis.
            Cash is still a good thing as well.
            I think anyway. lol

      Apr 27, 2015 27:55 AM

      KEY POINT……….NO COUNTERPARTY RISK.

      Apr 27, 2015 27:51 PM

      Great points as per usual LPG.

    Apr 27, 2015 27:42 AM

    Peter R,
    yes that is the obvious logic provided by RBC’s George Gero in his take on the transaction. Unfortunately, that doesn’t seem to be what is controlling these markets.

    Apr 27, 2015 27:43 AM

    Gary, so we could be in a situation now where conventional stocks go down into the DCL but gold/silver stocks, presumably, go up for the 2 – 3 weeks that you mention?

      Apr 27, 2015 27:06 AM

      Bob,
      Correct.

    Apr 27, 2015 27:22 AM

    Gary.
    if gold is going up the next 2-3 weeks, at what price range will it top out at?

      Apr 27, 2015 27:38 AM

      Samaki
      I asked the same question earlier; Gary had no target(s)
      Brian

      Apr 27, 2015 27:56 AM

      MIGHT…….MIGHT NOT……….

    Apr 27, 2015 27:38 AM

    WE NEED ………..MARK, AND HIS CALL ON ……………OPTION EXPIRY……

    Apr 27, 2015 27:41 AM

    Take a look at the weekly chart for hecla (hl). It sure looks like a significant bottom is well behind us.

    Apr 27, 2015 27:42 AM

    Biotechs are getting hit hard. Keeping a close eye on the etfs.

    Apr 27, 2015 27:50 AM

    Gare won’t be happy until yellow hits $5,000. I am hoping for $12.35 on NUGT today.

    Apr 27, 2015 27:52 AM

    12:50 – More short-covering on GOLD? Expiry day … this should be weird and interesting.

    Apr 27, 2015 27:33 PM

    I find it sad/ironic that an American bank (Citibank) which is cahoots with the U.S imperial project and the Federal reserve were allowed to purchase such a key and sensitive asset? Why wasn’t this “gift” of gold not offered to China or Russia? Maybe it was? You have to wonder if there are other political reasons behind such a maneuver? Is Venezuela trying to repair broken bridges with the U.S?

    Apr 27, 2015 27:38 PM

    or has the coup already begun?

    Apr 27, 2015 27:02 PM

    It may be net positive that Gary is sanguine about an escalation in the price of gold. Donโ€™t forget, Garyโ€™s subscribers were essentially wiped out by following his advice in 2012 and 2013. It may be possible the price will simply stay at US$1,200 until the SDR is launched.

    Apr 27, 2015 27:43 PM

    All you Novemberists out there are going to become Mayists.

      Apr 27, 2015 27:00 PM

      Uhm … I think it is just little me.

        Apr 28, 2015 28:53 AM

        What about Matthew and Glenfidish that were big-time Novemberists? What about Bob Moriaty, Gabriel (potentially Matthew), Frank….The Boot, and the leanings of BDC? There are a fair number of Novemberists out there that are intelligent people.

        On April 27, 2015 at 8:20 am,
        gabriel says:

        Iโ€™ve been hearing about these lower lows for a while, havenโ€™t seen them yet. Still in these manipulated markets anything can happen.

        What if the LOW was in November ?

        On April 27, 2015 at 8:45 am,
        gabriel says:

        I have another one for you :):
        99% Of People Donโ€™t Know When Theyโ€™re In A Bull Market โ€“ Eric Coffin

        On April 27, 2015 at 9:03 am,
        Birdman says:

        This is a bull market? โ€ฆ who knew eh?

        On April 27, 2015 at 9:13 am,
        Bob Moriarty says:

        I knew. I said so on November 6, the day of the low.

        On April 27, 2015 at 9:20 am,
        Frank from moscow says:

        good callโ€ฆโ€ฆ.BOB.

        On April 27, 2015 at 9:24 am,
        BDC says:

        The odds are better that youโ€™re right than wrong;
        however, a break below that means much lower!

          Apr 28, 2015 28:11 AM

          Funny Shad…I just figured you were the reincarnation of Matthew since you do so much quoting of other people. I did not mention it until now because I didn’t want to open a can of worms. Not that it matters. You can be anyone you want if you are civil….its fine with me.

            Apr 28, 2015 28:40 PM

            I’ve been Shad for about 4 years now, and have always been civil with you Birdman, so I’m not sure what you are talking about. I like Matthew as well, and always enjoyed his input. You both were more alike than either of you is willing to admit, but the butting of heads did get old for everyone.

            Apr 28, 2015 28:22 PM

            Sorry, was not meaning to imply you were not civil. That was a reference to you know who, not to you.

    Apr 27, 2015 27:46 PM

    This little bump up on gold was just that. A little bump up short squeeze.

      Apr 27, 2015 27:26 PM

      Looks like it failed despite a huge spike in volume. The move didn’t even scratch my central thesis.

    Apr 27, 2015 27:37 PM

    Moriarty do you know how to read a chart? Do you know what defines a bull market?
    http://stockcharts.com/h-sc/ui?s=$GOLD&p=D&yr=0&mn=8&dy=0&id=p37971164381&a=364990870&listNum=1

    Apr 27, 2015 27:42 PM

    I’ll help ya out. THIS IS STILL A BULL MARKET. No it didn’t crash as you predicted over and over.
    http://stockcharts.com/h-sc/ui?s=$INDU&p=D&yr=3&mn=0&dy=0&id=p77618861236&a=329669205&listNum=1

    Apr 27, 2015 27:26 PM

    Bill,
    It’s a big pullback within a bull market. But it’s a 3 and a half year bear.
    ( stating the obvious.. )

      Apr 27, 2015 27:55 PM

      Its a melt down pull back. Its called a big bad bear dude. -20%

    Apr 28, 2015 28:31 AM

    How many companies gone titters in this so called pullback??’ I think hold bugs have been hanging around the medical maryjane shops…

      Apr 28, 2015 28:06 AM

      You’re on the wrong end of the stick….Bill.

      Once again. You and gold perma bears
      who can’t get out of their own way.

      Ha…Ha….Gold is poppin and you’re not.

      Missin by a long shot…you too gold perma bears.

      What a joke !!! You aimed, fired and missed the target. ๐Ÿ™‚ ๐Ÿ™‚

        Apr 28, 2015 28:14 AM

        Thanks for the laughs !!!! btw

        You too gold perma bears… uh ha ha ha.

        Too funny !!!!!!!! ๐Ÿ™‚

          Apr 28, 2015 28:19 AM

          I don’t know of a single perma bear on this site. Do you? Personally I am non-denominational on gold. I really don’t give a rats a$$ if gold goes up or down just so long as I am on the right side of the trade.

          So far, being a bear has been more right than wrong.

            Apr 28, 2015 28:30 AM

            WELL…..last week ..NO !!!!!

            Its okay though just be sure to find a real soft pillow and
            take a few aspirin.

            You will be fine !!!!

            Ha…Ha…other than that you may need to seek
            professional psychological therapy.

            Don’t be so upset but you are missin the Gold Party.

            YEEEE HAAAAA Party On $$$$$$$ ๐Ÿ™‚

            Apr 28, 2015 28:08 PM

            With you Bird!
            HEAVEY you raking it in in those gold stocks?! Must be a hell of a stock picker…

            Apr 28, 2015 28:30 PM

            I never mention gold stocks..Bill.

            Wrong end of the stick again.

    Apr 28, 2015 28:57 AM

    http://www.youtube.com/watch?v=s9U5RoP2WdU

    GOT GOLD !!! Party Hearty…

    Apr 28, 2015 28:10 PM

    No gold but a solid $60,000 pay cheque every month… You ?

      Apr 28, 2015 28:28 PM

      You bloggin that Bill. Apparently so.

      Why should I believe it then.

      Doesn’t matter because anyone who is so
      foolish to believe in everything bloggers
      post have no common sense. Never mind
      any kind of intellect.

      So why post it ???? Because you need to
      help your self esteem most likely with deceit.

      Or you wouldn’t post it.

    Apr 28, 2015 28:52 PM

    Any perma cheerleaders for gold shoul seek help….or at least an IQ test.

      Apr 28, 2015 28:23 PM

      ..OK…Bill…

      Now go take a snooze you will feel a whole lot better.

      Nappie Time…Bill….. ๐Ÿ™‚

    Apr 28, 2015 28:27 PM

    Because most people that have any it intellect run their own busineses. That’s what insurance is…confidence and belief in one self. Markets destroy most at the end of the day. Any multi millionaires trading from a blog. You can skim a living maybe hit it big on and that will keep you coming back. The majority of traders are habitual gamblers. Yup I have to have a real paycheck. This is just crap for messing around.
    I get a lot more fulfilment from a real job personally. Just wondering how much money the average dog makes or loses monthly and the zillion hrs they put in looking into the tube.

    Apr 28, 2015 28:28 PM

    What the hell are you on anyway Heavy!?

    Apr 28, 2015 28:30 PM

    I do need a nap from working 180 hrs the last 14 days.

    Apr 28, 2015 28:43 PM

    Ps I don’t give A sht if anyone here knows my paycheck but my best friend foesnt know. Understand the dIf HH?

    Apr 28, 2015 28:05 PM

    OK…Bill…

    I agree and hells bells be good.

    Call it a day.

    Apr 28, 2015 28:42 PM

    Matt Drudge…says take a deep breath

    THE COUNTRY COULD FALL.

    http://www.allnewspipeline.com/Matt_Drudge_Tweet_Country_Could_Fall.php

    The Cabal …whether one wants to believe it or not has planned this for decades.

    No fear mongering. This sh%t is real. No one knows the date with the fate but
    by year end.