Loading ...This industry has never in history done anything for long term investors. It is only for the benefit of miners and management and bankers. The miners are always wanting more. Management takes huge salaries and never works for the benefit of shareholders and there is so much corruption at every point along the way. It should be destroyed as should banking as we know it today. They are both evil enterprises. If there was a way to bring integrity to either industry then it would make sense. There is no IBM of Mining. It grew at 17% per anum for 40 years. Mining destroys the environment. Consumes labor,takes huge amounts of capital and produces door stops. It is a terrible business on all fronts. Name a redeeming quality. JMHO
Congress Will Vote Today to Destroy States’ Rights to Protect Our Food Supply
All Americans – conservatives and liberals – want their families to have access to safe food.
Polls by ABC news, Associated Press and other major organizations show that Americans overwhelmingly want genetically modified foods (“GMOs”) labeled … and don’t believe that GMOs are safe.
A poll by Pew Research Center finds that two-thirds of Americans think that scientists don’t fully understand GMOs, and therefore cannot guarantee people are safe if they eat genetically modified food
Indeed, most independent scientists – ones not making money from the GMO food manufacturers – say that GMO foods are very concerning.
For example a new study commissioned by Norwegian officials and conducted by a scientific authority on the safety of biotechnologies concludes GMO crops lack scientific data to prove their safety. And see this.
And a poll shows that 68% of American and Canadian doctors think that GMOs should be labeled.
No wonder Vermont, Connecticut and Maine have voted to require GMO food labels in their states.
So how does our bought-and-paid-for Congress react? By banning GMOs until further studies are conducted? By demanding labeling of GMOs so consumers can decide?
Of course not!
The House will pass a bill today forbidding states from requiring GMO food labeling, or from banning GMOs within their states.
Just like with the TPP, Congress couldn’t care less about what the American people want … or what’s good for the country.
Conservatives support states rights. Liberals support federal action to protect our health. And all Americans support our right to make informed purchasing decisions.
But Congress only answer to its owners.
Remember, the big GMO food produces like Monsanto have already gotten their Congressional lackeys to pass legislation which strips American courts of their power.
Postscript: This is similar to what the Feds did in the run up to the 2008 financial crisis. As former head S&L prosecutor Bill Black – now a professor of law and economics – notes:
The Federal Reserve Bank of New York and the resident examiners and regional staff of the Office of the Comptroller of the Currency [both] competed to weaken federal regulation and aggressively used the preemption doctrine to try to prevent state investigations of and actions against fraudulent mortgage lenders.
Liberals and conservatives tend to blame our country’s problems on different factors … but they are connected. The real problem is the malignant, symbiotic relationship between big corporations and big government.
Kentucky
“This industry needs to be destroyed completely never to return again.”
Misplaced your meds? 🙂
Armstrong
I can see why some or many lol are reacting to his predictions on gold going down and that he got out of jail free card although should he even been there?
I see in some way the opposite that being in jail made him realize what the little guys are going through on a daily basis. That he is in more touch with the people since then not the opposite. I don’t have to agree with all his beliefs like raises will hurt businesses but they have been raising prices but not wages and he mentions he needs staff and they need to be paid and have to make a living so probably knows they can’t live on current minimum wage. Guess depends on just how high they raise it.
I’m sure he is under pressure and they watch his blog and read his enails. It could also happen to anyone. I have three FB ” Agents” wanting to friend me wondering over vaccine saftey. Three, and if you ask any questions like where their from they don’t answer. So if I dis appear you’ll know why. Lol
So far but watching Armstrong is not bearish gold and pre warned of a correction as well in Europe. He called the same lows as that guy Mr Cooper talked to and possibly going user a 1000 that then people will be calling 6-700 gold next, the shorts will pile in then and it will reverse. Guess that would be a short squeeze which could mean it could rise fast and become volatile. We’ll have to watch.
At the same time he’s fighimg gold promoters so to speak Im hearing the opposite from gold haters. Retired gov workers passing out cigars acting like they could care less if the whole world is falling apart as long as they get their pensions. When I left a message to a nurse friend who is from Japan who still has relatives there as well as PM possibly nearing bottom her husband who monitored all her texts can get them on his phone who HATES gold threatened to divorce her if she bought it but was asking me where she can buy some with the little money left over after bills. Won’t repeat what she said. Lol He was saying things like the sky is falling repent and made jokes about the christians being killed mocking God, G-D saying God will take care of them which I don’t know where that came from. Plus the same old excuse you can’t eat gold. Well you can’t eat paper or stocks or houses or other tangables either so think of a better excuse dude. These people want gold to go down or be destroyed so they can act like they know more than others about it including Armstrong but know nothing and that it’s a bad investment. So while Armstrong is seeing one side Im and probably others seeing the other who arecpredicting and even bash it all the way up to the same old in either direction they will eventually be right. That gold has no place in their world and want to dictate to others in their brain dead gov dependent manner, I’m not that emotional about the stocks but after this last few years and seeing the opposite and where the seemingly real arrogance and narcissistic apathy for the rest of the world I can’t wait for it to turn. Couldn’t happen to nicer type guys.
Good Afternoon
Just sticking my nose in for a moment. Marty has been right about the price of gold for awhile and is to be congratulated. His condemnation of the Gold promoters such as Kingworld News is justified. He does say that it is going to get slaughtered then rise from the ashes. That would fit with what most bears are saying. The annihilation of the gold companies is deserved because of management and greed. This industry needs to be destroyed completely never to return again. The gold that has been mined can then reach a realistic price. JMHO
The pleasures of terrain analysis in northern Canada.
Route selection for roads and pipelines in ice-rich soils was a challenge when I had the opportunity to work in that field of investigation in the Northwest Territories, Nunuavut, and Northern Yukon. Of the many cases of melting ground ice that I have seen, none were as eye-catching as the one shown in the link below.
Not an original thought
and I’m sure most here have had it cross their mind … but if China is intent on amassing as much gold as possible at a low price, then it makes sense for them to try and influence the price lower … such as declaring that they own much less gold than they do. It just makes sense.
Eagel Eye once told me that Marty got an out of jail card for one reason
and that’s to spread BS and disinformation. mislead fools and collect subscription dollars. If he we’re a genius, like some dumb arses think he is, he wouldn’t give a rip about helping others. He’d just want to make himself richer and richer at any cost. It wouldn’t surprise me to see that he trades positions exactly opposite as he calls them, shearing sheep
Here we go again=nugt down 10.4%–and comex gold down just under.2%
Last time this was not a bullish divergence-a plunge happened Sunday nite…
World financial markets are like a pie crust stretched across the roof of a volcano!
Warbucks signals the trusty Punjab to cut the cords of the rope bridge!
Fu Manchu pulls the lever to the trap door!
Grease the skids, Happy Tobogganing!
The death of equities–1979–today the death of gold
I am beginning to see a very pitch black consensus developing towards gold and
Armstrong is just one of a very large crowd smugly and confidently proclaiming the death of gold and apotheosis of paper…
In any stock-bond–commodity-etc- mkt-at mkt tops, bullish arguments become irrefutable–their logic is “iron clad”-
“Step right up and buy cousin! Doncha know there’s just no way to lose!”
Same deal at bottoms! same iron clad logic…gold [or whatever] will never rise again!
Remember the death of equities magazine cover?
A famous example is a 1979 cover of BusinessWeek titled “The Death of Equities”. The ’70s had been a generally bad decade for the stock market and at the time the article was written the Dow Jones Industrial Average was at 800. However, 1979 roughly marked a turning points
If Armstrong’s so smart, why is he selling advice instead of money managing 100 bill—and what about his Socrates computer system that’s gonna solve the riddle of existence?
Never bash your competition!!
Years ago when I was National Field Service Director for the largest multi-line Insurance Co in the US, one of my main presentations to various General Agencies and their sales force was NEVER BASH YOUR COMPETITION; Sell your own product. If you bash your competition your client will begin wondering why you find it necessary to badmouth your competition and they might decide they better take a look at that competition before they buy.
We see this happening all the time in politics too. Bash your competition to try to make them look bad instead of talking up your own strengths to make yourself look good.
Obviously this is why gold and silver are being bad mouthed. “They” have nothing good they can say about what they are trying to sell, like the future of their countries, currencies, economies etc. so they are trying to dissuade us all from owning the only thing that has always proven to be a safe haven in the long run for the past 5000 years. I’d say hold your …….Silverngold
That great mkt timer-staunch stock mkt bull and great American Don Wolanchuk
http://www.siliconinvestor.com/subject.aspx?subjectid=52296
the market is like a flea (bear) infested dog…..the dog has been shaking them the last 7 months…….as it moves towards its date with destiny…..the fleas can’t stand it
money.cnn.com
tomorrow the NAAIM numbers come out again……half have allready bagged out ….with the naz above its 2000 peak…..whooda thunk it in march 09 eh…..SNORT…….post expiration adjustment did its job once again/////
faber gd freek….snort but….we need them we love them and we cant live without them……j granville
10day clx recycling post expiration ….cud get ugly….monday aug 3rd day will be ready again chop chop end result? higher prices are coming
[this is not from Don but a poster]=
XAU Chart Update. Breeze.
The two H&S patterns on the chart linked to the url below are ones that proved prescient for the decline of this index. The large H&S target was achieved yesterday and the smaller H&S pattern has a target of ~42.30. Yesterday’s low was 48.53.
The 2000 low was 41.61. Unless this index is going to fall below the 2000 low the correction in the XAU is close to complete.
tradingview.com
Best Gold Forecaster
Years ago, I spoke on phone to a refiner in Ca. Simply to ask him, what’s the difference between a refiner and an smelter? He was on his way to work, a nice friendly guy. After talking a while re the gold market, he was very confident, told be….
“Go short, buy short contracts 6 months out”. I thought he was wrong at the time but he turned out to be the most accurate “forecaster” out there, maybe because he is actually where the rubber meets the road.
Thankfully, I SAVED his website link, and called him yesterday, refreshed him about my phone call few years ago, he remembered me.
Real friendly open guy. Even gave me his personal e-mail address, and told me to keep in touch. He loves talking about the markets. Says his brother-in-law works for Kitco.
Told me what happened. China sold 5 tons one day and 5 tons the next day, and plans are to sell 5-10 more tons. We may see $1000 and then bullish from there, something about their currency or plans. He is still getting good info, he’s been shorting gold with contracts, even the other day, and doing well.
Re general stocks he loaded up on MBLY, @ 49.50 $60.59 now, told me to buy it he LOVES it. Related to software that they use for cars with no drivers. Last time I spoke to him he was driving a Benz convertible. Now I think he said Acura, that might have those automatic features. He talks fast, and a little hard to understand it all on cell phones.
Lets also keep in mind re China, their market has crashed, and naturally margin calls probably forced many players to cash out of their gold. Note also, the Yuan and dollar and gold, ALL THREE, are PEGGED, tightly. When we have a 5% or 10% drop in gold, so do they.
@ Samb RE: Armstrong – “but, rather the truth that he conveniently leaves out”
excellent point! and very well said.
Armstrong is a smart guy, no doubt.
but he certainly cherry picks the info he gives out on gold. always negative.
drb2 @12:04
For me, it’s not what Armstrong says that is annoying but, rather the truth that he conveniently leaves out. For Example MA points out that you will have custom/confiscation problems if you cross borders with a suitcase loaded with gold. Therefore Gold seems relegated to the trash bin of history.
He neglects to point out that you don’t have to lug around a heavy suitcase of gold anymore. You could elect to have allocated gold with Perth, Sprott or Egon’s Matterhorn, etc. Those accounts travel with you wherever you go or choose to settle. Your fiat funds are wired in and presto you are re- capitalized. What’s that says Marty? Why I never knew that.
RE: Armstrong
Armstrong irritates me – what a hypocrite!
He constantly bashes any pro-gold commentator for conflict of interest. While in the same breath he promotes HIS Socrates as the new Savior of Mankind.
NEVER, ever a word about how gold is obviously abused by Central Banks.
But Marty
if it’s all about the USD, how come on days when the dollar is down gold still goes down? LIKE TODAY?
CNBS hit piece on silver @ 2 pm EST
Be sure not to miss it!
The 1000 cuts continues…
Still feels, looks like the gold bullion, gold stock ALGO’s haven’t missed a beat!!
Even with that monster GDX volume… no change… “USUALLY” … the end of July when options/futures expire… Which I think is on the 28th we ‘might’ get a bounce … Trend changes in bullion do seem to happen in either August or beginning of Sept …. Or maybe… we do get $800 gold and the XAU at 10 or 20!!
One possible sign that the bottom is in $50+ jump when the COMEX opens and 20-30 point jump in the HUI plus another maybe 50% follow through the next day…
Anyways…. now might be the time to start to plan for the shift… and perhaps we can collectively post different stocks (jrs/seniors) or options that will work…
Richard640… thanks for posting your leverage vehicle options… much appreciate your take here….
Islandgold
The usual Armstrong=the evil gold promoters have bankrupted their followers-gold’s going waaaaay down–and don’t bother with it
anyway cause eventually it will be legally encumbered and rendered useless…
I AM BEGINNING TO SMELL A VERY DEEP BLACK CONSENSUS DEVELOPING–and u know what that means….[or so the theory goes]
Gold – It Ain’t Over Until the Fat Lady Sings
Posted on July 23, 2015 by Martin Armstrong
The problem with gold has been the Gold Promoters who have made up sophistry to sell their product convincing so many people to lose everything they invest. While the hate mail has started again claiming I am “bashing the gold bugs” as if this were a sport for no reason, it sadly illustrates that some people will always go down with the ship because they are married to a concept and are unwilling to see the world for what it truly might be – complex and dynamic which defies their idea of what is money.
The Associated Press says: Investors are running out of reasons to own gold. The AP is a wholesale news agency so their story runs around the world in numerous newspapers. The AP summed it rather well:
The dollar has rallied in recent months, diminishing the allure of holding gold. The U.S. economy has been on firmer footing, and tumult in China’s markets and Greece’s debt crisis have failed to restore the metal’s appeal as a haven from global turmoil.
It is a shame they some just cannot see that gold had to decline and the dollar had to rise because of the fundamental unsound structure of the Euro and that this is just one piece of the puzzle as to how the world economy shifts from the West as it dies under the theories of Marxist socialism and moves to Asia for 2032. This is also deflation caused
(1) by rising debt within government which propels higher taxation resulting in lower economic growth and government’s hunt for taxes is destroying the LIQUIDITY and global free-flow of capital.
(2) the technology age of creative destruction is manifesting within the internet age whereas we are displacing the old with the new that requires less manual labor.
So as politicians try to force minimum wages higher, companies turn to robots and it becomes a deflationary spiral. Robots replace manual labor eliminating pensions and healthcare costs which have become the largest part of many business costs. Starbucks spends more on healthcare costs than on coffee to resell. This is all part of DEFLATION measured not simply in prices, but is the decline of disposable income since prices will rise with cost-push inflation rather than demand-inflation that marks a boom. Far too many people remain ignorant of how things work and cannot see beyond a single dimension which has a single definition.
Yet others have written realizing that just perhaps there might be something to this concept that everything is connected, which indeed forms much of the core of Asian philosophy.
“First, your insights and comprehensive knowledge have turned a light on for me with respect to how the world works. Thank you. I especially resonate with your fundamental given: that everything is connected, dependent on everything else. Yours is the first practical application of this fundamental insight of the mystics — especially the Eastern masters — that nothing and no one has an existence independent of everything and everyone else. The Vietnamese Buddhist teacher, Thich Nhat Hanh, coined a term for this: Interbeing. If only the would-be rulers of the world could understand this. Instead, they pursue their doomed dreams of the supremacy of Me and Mine over everything and everyone else, and so we all suffer — temporarily. Everything always changes…
Now a practical question: You mentioned benchmarks that you expect gold to reach on its trip down, but you haven’t mentioned what they are. I suspect that this information is contained in one of the special gold reports you have listed in your Store. Is this correct? …
GCNYNF-D 7-22-2015
I had planned to just move to a beach and wait for the world to meltdown. Long-term clients urged me to please stay. So the compromise has been this monumental effort to port Socrates to the internet and to create an entity that will survive me – my contribution to society what I leave behind. So to do that requires staff and they need income, which is understandable. They need to make a living and are not in a position to just retire and call it quits as I am. So there has to be some revenue for them and for me to exit knowing they will continue without me with Socrates calling the shots. Additionally, those clients who have supported this effort have paid for such info and their position is that it should not be just given out to the world for free. They are entitled to that exclusivity for others will just try to pretend it is their research and use it to lure people in to sell them something that typically blows-up anyway.
Yes, the Benchmarks are the targets for it is ALWAYS not just PRICE but it must also be TIME. These two objectives must be reached and they are in that report. So do we have the low yet? No. To create the low, the MAJORITY must turn bearish. Their target forecasts will be in the $600-$700 level. The key Weekly Bearish Reversals are 1084 and 1075 followed by 1042 and 1026. So we have four Weekly Bearish Reversals providing support before the break of of $1,000.
GCNYNF-M 7-22-2015
Even those who use Fibonacci retracements were looking at 1282, 885, and 243. All the fundamental sophistry of the Gold Promoters has amounted to propaganda if not outright fraud since typically they have have a business selling gold or are deeply invested in it and cannot see beyond their personal investment. Some are also more likely than not of the payroll of someone else to put out bogus analysis to trade against. They did that in the Dot.COM bubble as well.
I we hold 1084 for the weekly closing, then we can see a 2 week bounce and everyone will proclaim the low so hurry up and buy more. If we close below these numbers, then we can see a 2 week panic to the downside and a test of the 1980 high now. If that unfolds, then the latter target may be further down. So we play it by the numbers.
There is still a risk that the SECOND BENCHMARK will be the final low rather than the first. That would fit best on the yearly model and it appears that what comes after October 1st is going to be anything BUT normal. OPINION will not matter much for we are entering a period where only the computer will be able to cope with the future. Nobody alive has gone through what we are embarking upon – so OPINION won;t mean much.
The problem for gold in the future is the hunt for taxes may in fact eliminate it as a viable means to transporting wealth as it once provided over the centuries. You cannot legally store in a safe deposit vault, hop on a plane with it, or go buy a cup of coffee at Starbucks. The hunt for money may seriously impact gold as a medium of exchange except in a very black market reducing it to the modern day drug business.
About 10% of global gold output being produced at a loss
One in 10 gold mines are now operating at a loss as bullion prices have dropped to the lowest level in five years, marking the worst period of depreciation since 1996, Wood Mackenzie said in a note to investors.
And while gold was moderately higher in early U.S. trading Thursday, on a short-covering, technical rebound, analysts agree the whole industry is on a bit of “a knife-edge.”
James Sutton, a portfolio manager at JPMorgan Chase & Co.’s $2 billion Natural Resources Fund, told Bloomberg Wednesday gold miners are making “very, very small” margins.
Really everybody in the industry needs higher prices. You’re going to see some companies run into trouble,”
more http://www.mining.com/about-10-percent-of-global-gold-output-being-produced-at-a-loss/
It looks like premiums have finally collapsed in NUGT and similar leveraged long gold vehicles
I am not in the market to buy but was solo mirando [just looking]…they used to be so high–and not so long ago–it looks like the Jan16 $6 call on NUGT could be bought for 70 cent…but since gold is going to 700 then I will wait and buy a similar time dated and out of the money option then for 10 cent…or so the theory goes…3 times we’ve been at this juncture-this time it looks like the wolf is really at the door….as gold bugs ask:
me’ayin y’avo ezri? [from whence shall my help come?]