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- Gold and Gemstone Testing Equipment
- California Miner Told Operating Illegally. Doesn't care. He's Raking in The Gold
- The Foreclosure Fraud Fantasy
- New York Housing Market Could Still Collapse: Analyst
- Will China Continue to Buy Gold?
- Who Has Most Influence On The Gold Price?
- Proponents of Gold Standard May Be Violent Extremists; Report ALL Suspicious Activity To the FBI
- Gold Increased In Value In Both Extreme Inflationary and …
- PGMs = Potentially Great Movers
- Bullion Steady as Dollar Falls, Job Market ‘Still Not Normal’
- Morning Outlook from the Trade Desk 02/08/12
- Top gold manager Embry: This will be the strongest year for gold yet
- Bernanke speaks, gold rises
- This Will Be Gold's Best Year Yet: John Embry
- Iran, The Dollar...and Financial Warfare: Jim Rickards
- FBI warns of threat from anti-government extremists
- Gabelli Gold's Bryan expects another leg higher in King World News interview
- Goldcorp, World Gold Council chairman Telfer implicated in insider scheme; he denies it
- Hong Kong gold flow to China more than triples in 2011
- UC Resources Invests in Sprott Silver Trust
- Gold & Silver Market Morning, February 08 2012
- Marin Katusa: Petrodollar Demise Bullish for Gold
- Romanians Protest Gold Mine
- Gold may be a better investment than a pension for retirement?
- Gold is up 10% on India, Iran, China rumours
- Syrians buy up gold as currency plunges
- Tax protester pushes silver and gold currency bill
- Precious Metals Price Shakeout
- Gold Prices Driven Higher by Europe and China: Greg Weldon and Grant Williams
- Finding Fundamentals Key to Gold Investing
| Gold and Gemstone Testing Equipment Posted: 08 Feb 2012 06:42 AM PST If you're in the market for such things, take a look at Mineralb's site, http://www.mineralab.com/ . They also carry a lot of other useful items like SG balances, UV lights and Geiger Counters. I've bought from them in the past and have had very good luck with them. I know their prices are very good on the Geigers, and UV equipment, can't say about the rest of their stuff. |
| California Miner Told Operating Illegally. Doesn't care. He's Raking in The Gold Posted: 08 Feb 2012 05:53 AM PST Attachment 15272 By DON THOMPSON updated 32 minutes ago Quote: State and local authorities contacted for this story say they believe the Big Cut operation is so profitable that Hardesty can afford to ignore the laws governing mining. "He can make more than we can fine him," said Jim Wassner, a senior code enforcement officer who has led El Dorado County's investigation. "The amount of gold they can pull out of there is astronomical." PLACERVILLE, Calif. — California's Gold Rush was more than a century-and-a-half ago, but its Wild West spirit lives on in a dispute between government agencies and a landowner in the Sierra Nevada foothills that some officials describe as one of the most egregious cases of illegal mining they have ever encountered. The dispute between local and state officials and the owner of the Big Cut Mine is coming to a head after a bureaucratic stalemate that has dragged on for three years, with the county district attorney filing 14 charges, including four felonies, and the state leveling fines approaching $900,000. Authorities say the land owner has refused to comply with cease-and-desist orders, pay any fines or even to submit to an arrest warrant. He became a fugitive last week after failing to turn himself in as promised. "What we don't see very often is a flagrant, a total disregard of the law," said Stephen Testa, executive officer of the State Mining and Geology Board. "This is an order of magnitude larger than what you would typically see. This is a full-blown surface-mining operation." Land owner Joseph Hardesty contends that he has a historic right to operate the Big Cut Mine, which is on nearly 150 acres he bought seven years ago as the price of gold began to rise. Gold now hovers around $1,700 an ounce, an increase of about 470 percent from its price a decade ago. The run-up has prompted a feverish rush to tap former gold fields and rivers throughout the West, from established mining companies to weekend gold-panners. In California alone, gold reported from small claims and the state's few commercial mines has increased more than six times as prices have spiked, from 30,155 ounces reported in 2006 to 198,946 ounces in 2010, the last complete year available. CONTINUED.... |
| Posted: 08 Feb 2012 04:43 AM PST As pressure mounts on hold-out states in the U.S. to ratify a shameful deal on Wall Street mortgage-fraud, the mainstream propaganda machine continues to circulate a Big Lie as justification for this despicable sham: that a deal would help to "fix" the U.S. housing market. Not only is this wrong, but it is entirely opposite to the truth. What the media continues to deliberately obscure is what is actually being negotiated here. You can't 'negotiate away' 10's of millions of fraud-infected mortgage documents. All that is currently being done with this "deal" is to absolve the Wall Street fraud-factories of responsibility for the this massive, deliberate, systemic fraud – which will permanently cripple the U.S. housing market. Once a deal is done, all of the fraud will still be sitting in those mortgage documents: 10's of millions of infected land titles, which can only be purged of their fraud through being litigated one at a time, through a U.S. court system which is already hopelessly clogged with Wall Street fraud. By simply "sweeping under the carpet" these countless millions of acts of systemic fraud, rather than helping to fix the U.S. housing market, it guarantees decades of massive uncertainty and insecurity regarding land titles in U.S. residential real estate. Put another way, it makes title security in the U.S. grossly inferior to any/every other reputable land title system on the planet. Until these 10's of millions of acts of fraud are (eventually) purged from the U.S. land title registry – one by one – U.S. real estate will trade at a permanent discount in relation to all of those other real estate markets. What person in their right mind would pay full price for a piece of real estate where there is always a lingering doubt about actual, legal ownership of that piece of land? In fact, there has always been only one rational approach to the made-in-Wall Street mortgage fraud nightmare. First of all, all time/effort/expense that has been wasted (solely for the financial benefit of the Wall Street fraud-factories) in these negotiations should have been invested into a national audit of the entire U.S. land title system – to systematically (and efficiently) purge all of this fraud from the U.S. real estate market once and for all. Only after that had been done, and the actual damages were finally visible/apparent should there be any talk of "making a deal" with Wall Street. Indeed, there is no more damning indictment of the illegitimacy of these current negotiations than the fact that the parties seeking to sign-away their rights to sue the Wall Street fraud-factories can only guess at the total amount of fraud involved. Understand that in the real world where an individual was in negotiations to "settle" some fraud which had been committed against them that no competent lawyer would ever allow his/her client to sign-away their right to compensation before the scope of the damages was clearly apparent. Yet what do we see here? According to Bloomberg "more than 40 states" have already agreed to a deal. Are we to believe that more than 40 U.S. state governments were unable to find a competent lawyer to represent them? Or, are we to believe this is yet another corrupt betrayal of the American people, solely for the benefit of the Wall Street crime syndicate? Not only does this deal permanently entrench 10's of millions of acts of (systemic) Wall Street fraud in the U.S. land title registry (causing permanent damage to the U.S. housing market); not only does this sign away the legal rights of U.S. states for compensation at pennies on the dollar; but it doesn't even rescue the Wall Street fraud-factories themselves. It is entirely an exercise in futility. |
| New York Housing Market Could Still Collapse: Analyst Posted: 08 Feb 2012 02:55 AM PST There's been a lot of talk recently about home prices reaching a bottom. Most notably, Bill McBride at Calculated Risk — perhaps the most respected housing market analysts in the blogosphere — says housing starts already bottomed and housing prices are likely to bottom in March... Read |
| Will China Continue to Buy Gold? Posted: 08 Feb 2012 02:51 AM PST |
| Who Has Most Influence On The Gold Price? Posted: 08 Feb 2012 02:40 AM PST Perth Mint Blog |
| Proponents of Gold Standard May Be Violent Extremists; Report ALL Suspicious Activity To the FBI Posted: 08 Feb 2012 02:30 AM PST |
| Gold Increased In Value In Both Extreme Inflationary and … Posted: 08 Feb 2012 01:36 AM PST |
| PGMs = Potentially Great Movers Posted: 08 Feb 2012 01:30 AM PST Gold prices meandered on either side of the "unchanged" marker this morning and orbited around the $1,745 area as the US dollar did not appear to pierce the 78.50 level on the trade-weighted index following yesterday's euro-centric optimism-induced sell-off. |
| Bullion Steady as Dollar Falls, Job Market ‘Still Not Normal’ Posted: 08 Feb 2012 12:11 AM PST Gold bullion prices held steady just below $1,750 per ounce Wednesday morning – 2.2% up on yesterday's low – after rallying the previous day following comments from US Federal Reserve chairman Ben Bernanke. |
| Morning Outlook from the Trade Desk 02/08/12 Posted: 08 Feb 2012 12:09 AM PST I was a day and a half early on my buy signal, which in the world of trading is a long time. Assuming Greece (perhaps Portugal next) doesn't blow up and they come to "any deal" the markets should continue higher, especially with the Fed re-affirming its commitment to keep rates at 0 until 2014 and confirming they will protect America from any issues in Europe. Even Roubini who has been the ultimate bear forecaster for the US economy came out yesterday and said he was bullish ( at least for the short term). This should be price positive for the base and industrial metals, which have already made impressive gains on a basis of a ratio value against gold. Platinum now sits at a $100 discount to gold. Three weeks ago it was a $200 discount. Silver was at a 58:1 ratio is now approaching 50:1. ( number of ounces to buy an ounce of gold ) NOTHING is better except PERCEPTION. But that's what moves markets . |
| Top gold manager Embry: This will be the strongest year for gold yet Posted: 08 Feb 2012 12:08 AM PST From King World News: With gold trading roughly $30 higher and silver breaking solidly above the $34 level, King World News interviewed John Embry, Chief Investment Strategist of the $10-billion strong Sprott Asset Management, to get his take on where he sees gold and silver headed from here. Embry told KWN this will be, by far, the strongest year for gold during this entire bull market. Here is what Embry had to say about the situation: "The fact that sentiment is so poor with gold at these levels just indicates that people don't realize what's really unfolding. I think the price action to begin the year has... Read full article... More on gold: Resource guru Sprott: Expect "serious fireworks" in gold This chart shows it could be a great time to own tiny gold mining stocks Top analyst Rosenberg: This could be the best way to profit from gold now |
| Posted: 07 Feb 2012 09:30 PM PST When perma-bear economist Nouriel Roubini turns bullish on the stock market, it's wise to sit up and take notice. In the words of Gina Sanchez - director of equity and allocation strategy ... |
| This Will Be Gold's Best Year Yet: John Embry Posted: 07 Feb 2012 09:14 PM PST ¤ Yesterday in Gold and SilverThe gold price didn't do much until about 2:00 p.m. Hong Kong time...and then a smallish rally began that lasted until minutes before London opened. Then, for whatever, gold got sold down about twenty bucks, with the bottom coming at around 12:15 a.m. in London. A rally then began that lasted until the gold price hit the $1,750 spot mark, which came shortly before 2:00 p.m. in the New York Access Market. After that, the gold price got sold down about five bucks into the close at 5:15 p.m. Eastern. The gold price closed at $1,744.90 spot...up an even $25.00 on the day. Net volume was a very decent 149,000 contracts.
The trading pattern in silver followed an almost identical trajectory, except silver's high tick [$34.47 spot] came about fifteen minutes before gold's. Then, like gold, silver got sold off as well, closing about 30 cents off its high. Silver closed at $34.15 spot...up 47 cents...and net volume was 36,000 contracts.
The dollar index didn't do a lot until 8:00 a.m. Eastern time...and then it rolled over and hit rock bottom at precisely 11:00 a.m. Eastern time. From zenith to nadir, the dollar index fell a bit over 70 basis points. From there it traded sideways into the close. I suppose that there was some co-relation between the dollar index and the precious metal prices...but the rallies in both metals started quite a bit before the dollar cratered ...and then continued until long after the bottom was in.
The only reason I can think of as to why the shares did so poorly, is that there was a not-for-profit seller about. Gold and silver shares should have been on fire yesterday, but that wasn't allowed to happen...and got sold off about 2% the moment that the equity markets opened at 9:30 a.m. Eastern time. Yes, the shares rallied from there, but they couldn't hold their gains. Once the top was in around 2:00 p.m. Eastern time, the shares got sold off...and the HUI finished down 0.45% on the day.
The silver stocks didn't do well yesterday either...and probably for the same reason. Nick Laird's Silver Sentiment Index closed down 0.23% on the day.
(Click on image to enlarge) The CME's Daily Delivery Report showed that 35 gold and 17 silver contracts were posted for delivery tomorrow. Jefferies delivered 15 of the 17 silver contracts. There were no reported changes in either GLD or SLV yesterday. The U.S. Mint had another smallish sales report. They sold 1,000 ounces of gold eagles...1,000 one-ounce 24K gold buffaloes...and 200,000 silver eagles. Month-to-date the mint has sold 6,500 ounces of gold eagles...1,000 one-ounce gold buffaloes...and 670,000 silver eagles. The Comex-approved depositories reported receiving 6,900 ounces of silver on Monday...and the Scotia Mocatta warehouse shipped 1,932,668 troy ounces out the door. The link to the action is here. I have the usual number of stories for you today. Ted Butler said that JP Morgan added to their short position in silver again last week...and he's guessing that they are now short about 18,000 Comex futures contracts. Hong Kong gold flow to China more than triples in 2011. Where a Nation's Gold and Your Gold Should be Held: Julian Phillips. Gabelli Gold's Bryan expects another leg higher. ¤ Critical ReadsSubscribePresenting The "Rise Of The HFT Machine" - Visual Confirmation How SkyNet Broke The Stock Market On US Downgrade DayI ran this story yesterday...but Tyler Durden over at Zero Hedge serves it up with a preamble that really does justice to it. While the "rise of the HFT machine" over the past 5 years, following the adoption of Reg NMS, will hardly be a surprise to most, what is stunning is the first animated confirmation of the market terminally breaking on August 5, 2011, the day the US was downgraded, an observation that first was made right here on Zero Hedge. Which begs the question: what really happened in the stock market on August 5, 2011 when the US was downgraded to AA+, when everything literally broke, who is intervening constantly in the stock market, and why are they doing so via various HFT intermediary mechanisms? If you didn't see this yesterday, it's a must to read/view...and if you did watch this yesterday, then reading T.D.'s preamble is worth the trip all by itself. Australian reader Wesley Legrand sent it to me in the wee hours of this morning...and this is what he had to say about it: "Staggering time lapse evidence of the huge rise in HFT and Algorithmic Trading in US markets, now dominating daily volume there; i.e. it's basically just the prop desks of the Wall Street banks trading amongst themselves, and painting whatever charts they want…" That just about sums it up...and the link is here.  Lowest Non-Holiday Market Volume In Past DecadeWe are struggling for superlatives (or whatever the antonym for superlatives is). Monday's NYSE volume was as low as we could find on Bloomberg data. It is the lowest non-holiday trading day volume in over a decade. This is 26% below last year's post-Super Bowl trading day volume. ES, the e-mini S&P 500 future contract, which has tended to be the most liquid and heavily traded instrument reflective of the equity markets, traded around 1.19mm contracts versus a 50-day average of 1.83mm (down 35%) and also we were struggling to find a non-holiday trading day with lower volumes (lower even than on the Thanksgiving Friday of last year's volume). In my Tuesday column I mentioned that it was a quiet trading day in gold and silver on Monday...and that obviously applied to all markets. I borrowed this zerohedge.com story from yesterday's King Report. It's a must read...and the two graphs are worth the trip all by themselves. The link is here.  Three-Year Note Auction Gets Weak ReceptionWall Street's dealers swept up their biggest share of new 3-year notes in three years, as investors refused to bid aggressively for the $32 billion issuance. Dealers took 63.8 percent of the 3-year auction, compared to an average of about 50 percent. That is the highest level since January 2009. Indirect bidders, which include foreign central took 27.7 percent, versus their auction average 39.6 percent. That was the lowest level since February 2011. The 1 p.m. EST auction saw a near record low yield of 0.347 percent, and came shortly on the heels of more reassurances from Fed Chairman Ben Bernanke that interest rates would continue to be super low for several more years. This cnbc.com story was posted on their website early yesterday afternoon...and I thank West Virginia reader Elliot Simon for sending it along. The link is here.  BofA Plaza Goes for $235M in Public AuctionBank of America Plaza, the tallest tower in the U.S. Southeast, was sold at a public auction on the steps of the Fulton County Courthouse yesterday after landlord BentleyForbes missed mortgage payments. The noteholder had a winning bid of $235 million, according to attorney Howard Walker of McGuire Woods LLP, who ran the auction. Holders of commercial mortgage bonds took ownership through a "credit bid" placed by LNR Partners, David Levin said in an e-mailed statement. Levin is vice chairman of Miami Beach, Florida-based LNR Property LLC, the parent company of LNR Partners, the tower's special servicer. BentleyForbes, based in Los Angeles, paid $436 million to acquire the 55-story Atlanta skyscraper in 2006 from Bank of America and Cousins Properties Inc. in the city's biggest property deal. Since the property market peaked a year after the purchase, the 1.25 million-square-foot (116,000-square-meter) building's value has tumbled with tenants, including namesake Bank of America, reducing space. This Bloomberg story from yesterday afternoon is another Elliot Simon offering...and the link is here.  It's Time To End the Greek Rescue Farce: OpinionWhether it be an escrow account or a budget commissioner, the latest demands by Germany show just how absurd negotiations over Greece's future have become. It is high time to bring an end to this tragicomedy. For the past two years, Greece has wrangled with the euro-zone states and the International Monetary Fund (IMF) over its so-called "rescue." Austerity measures have been agreed to, aid has been paid and private creditors have been forced to accept "voluntary" debt haircuts. Despite all this, Greece is in even worse shape today than it was then. Its economy is shrinking, the debt ratio is rising and the country and its banks have been cut off from capital markets. There isn't even the slightest sign that the situation might improve. Something has gone very wrong with this rescue. But none of the protagonists seem to have grasped this. They continue to negotiate as if things are business as usual, they let one "final ultimatum" after the other pass and they persistently fail to realize that their discussions have started to verge on the absurd. It would be a lot better to end this farce. Here's someone that calls it the way it really is. It's a refreshing read...and it was posted over at the German website spiegel.de yesterday. It's also Roy Stephens first offering of the day...and the link is here.  'Euro can survive without Greece' claim ahead of key talksThe eurozone can survive even if Greece is forced out, according to European Commissioner Neelie Kroes, as Greek political leaders prepare for crucial crunch talks to avoid a debt default. "When one member leaves it doesn't mean 'man overboard'," she said in an interview in Dutch newspaper Volkskrant. "They always said if a country is let go or asks to get out, then the whole edifice will collapse. But that is simply not true." While EC President Jose Manuel Barroso attempted to defuse her comments saying "we want Greece in the euro", Greek Prime Minister Lucas Papademos is preparing a report on the "consequences" of a Greek default and eurozone exit. This story was posted in The Telegraph yesterday afternoon local time...and is Roy's second offering of the day. The link is here.  Greek crisis deepens as austerity talks falterGreek prime minister Lucas Papademos was struggling to maintain international credibility on Tuesday night, after missing a third deadline in a week to deliver an austerity agreement needed to release a €130bn (£108bn) bail-out package for his country and avert a debt default. However, international patience with Greece is fast running out. This situation was exacerbated by the decision to postpone by one day a meeting due to start on Tuesday night, for the country's political leaders to approve a "final draft document" on austerity measures. They will now meet on Wednesday night. Eurozone finance ministers h |
| Iran, The Dollar...and Financial Warfare: Jim Rickards Posted: 07 Feb 2012 09:14 PM PST  As a global-macro analyst, I am frequently asked if war with Iran will come and, if so, when. My answer is that the war has already begun. It's not a shooting war - yet. What the U.S. and Israel are now waging with Iran is what experts call unrestricted warfare. This is warfare that consists of sabotage, assassination, special operations, psychological operations, attacks on critical infrastructure, cyber warfare and - the most recent addition to the arsenal - financial warfare. |
| FBI warns of threat from anti-government extremists Posted: 07 Feb 2012 09:14 PM PST  Anti-government extremists opposed to taxes and regulations pose a growing threat to local law enforcement officers in the United States, the FBI warned on Monday. These extremists, sometimes known as "sovereign citizens," believe they can live outside any type of government authority, FBI agents said at a news conference. The extremists may refuse to pay taxes, defy government environmental regulations and believe the United States went bankrupt by going off the gold standard. |
| Gabelli Gold's Bryan expects another leg higher in King World News interview Posted: 07 Feb 2012 09:14 PM PST  Gabelli Gold Fund manager Caesar Bryan told King World News yesterday that the physical gold market is strong, even as the paper gold market is weak. "I think this is the quiet time before more central bank action," Bryan says. "We are in the eye of the storm and the storm is still raging. Gold has broken out of the downtrend and we expect money printing to light the fire of the next leg higher in gold." I thank Chris Powell for writing the introduction on our behalf...and an excerpt from the interview is posted at the KWN website. The link is here. |
| Goldcorp, World Gold Council chairman Telfer implicated in insider scheme; he denies it Posted: 07 Feb 2012 09:14 PM PST  Ian Telfer -- one of Canada's most prominent mining executives...and chairman of Goldcorp Inc. [and chairman of the World Gold Council -- helped an old friend, the executive assistant of GMP Securities LP's chairman, disguise an illegal insider tipping and trading scheme, the Ontario Securities Commission claims in a statement of allegations released Tuesday. The OSC alleges that in at least two cases Mr. Telfer advised Eda Marie Agueci to communicate using her BlackBerry's PIN-based messaging service to keep her activities secret from GMP. The securities regulator also alleges Mr. Telfer helped Ms. Agueci facilitate a secret trade in a company that eventually became Gold Wheaton Inc. "His conduct was contrary to the public interest," the OSC alleges. |
| Hong Kong gold flow to China more than triples in 2011 Posted: 07 Feb 2012 09:14 PM PST  Hong Kong's shipments of gold to mainland China in 2011 grew more than three times from a year earlier, confirming China's rapidly growing appetite for bullion, despite a sharp drop in December. Total gold exports from Hong Kong to China were 427,877 kg in 2011, up from 118,904 kg in the previous year, the Hong Kong Census and Statistics Department said. The gold flow from Hong Kong to China dropped about 62 percent in December on the month to 38,605 kilograms, its lowest level since July, the department said on its website. |
| UC Resources Invests in Sprott Silver Trust Posted: 07 Feb 2012 09:14 PM PST  "The company has also recently acquired for investment purposes $1,500,000 of the Sprott Physical Silver Trust representing a portion of its available free cash. The board of directors approved this investment for the following reasons: enhance return on present cash since presently holding cash vehicles provides negative returns when inflation adjusted; investing in the industry the company is involved in and seeks to grow in from both a production and exploration perspective; good liquidity; enhance shareholder value from further increases in the price of silver; our way of responding to the call to action of Eric Sprott for precious metal companies to retain some production as savings. |
| Gold & Silver Market Morning, February 08 2012 Posted: 07 Feb 2012 09:00 PM PST |
| Marin Katusa: Petrodollar Demise Bullish for Gold Posted: 07 Feb 2012 08:47 PM PST
Jim welcomes back Marin Katusa from Casey Research this week. Marin and Jim discuss the petrodollar system and how Iran may play a key role in its demise, which would hurt the dollar and boost gold. Much More @ FinancialSense.com |
| Posted: 07 Feb 2012 07:52 PM PST |
| Gold may be a better investment than a pension for retirement? Posted: 07 Feb 2012 07:50 PM PST |
| Gold is up 10% on India, Iran, China rumours Posted: 07 Feb 2012 07:47 PM PST |
| Syrians buy up gold as currency plunges Posted: 07 Feb 2012 07:45 PM PST |
| Tax protester pushes silver and gold currency bill Posted: 07 Feb 2012 07:43 PM PST |
| Precious Metals Price Shakeout Posted: 07 Feb 2012 07:42 PM PST The consolidation of gold's bull phase from October 2008 to the peak last September was a classic three-leg correction: an initial slide, rally, and final sell-off. Silver followed a similar but more violent pattern. |
| Gold Prices Driven Higher by Europe and China: Greg Weldon and Grant Williams Posted: 07 Feb 2012 06:00 PM PST Preserving wealth in a volatile political and financial world is a job for gold. Greg Weldon, publisher of Weldon's Money Monitor newsletter and Grant Williams, a portfolio advisor at Vulpes... Visit the aureport.com for more information and for a free newsletter |
| Finding Fundamentals Key to Gold Investing Posted: 07 Feb 2012 05:22 PM PST |
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