Is a Central Bank Digital Currency (CBDC) a good idea for the USA?
Total Voters: 34
Loading ...Agree on all counts. nothing I see looks like a bottom. It looks to me like they have every intention of bankrupting 95% of the miners and the dumbass CEO’s are going to let them.
I think Barrick is now trading of about 1/3 the price of what it was in 1998.
Re the shares….It ain’t rational thinking, it’s machine led/done….
I was tradeing oil tdy…had a decent buy signal…well I thought so. Any way the mkt held for most of the day and even tried to rally some….but once Europe closed the cosh came down…new low, after new low.
I get the impression that it is all about “Painting the Tape”, that all is well etc…. Rates must stay low, as must all major commodities and especially the PM’s, while Stocks march ever higher and as it is all done by Algo’s there is never any let up, the mkts no longer inhale and exhale…it’s just a one way street.
A number of smart people are calling imminent bottoms….they could all be looking stupid soon…..
Nobody but nobody disputes that China Gold mines must sell their gold production to the Gov’t. Nobody inside or out of China disputes that these mines collectively produce approximately 300 tons per year. Nobody disputes that, not even Gata. So, 300 tons =3000 tons every 10 years. Try to balance that against their stated gold reserves. And note, that I have not included even one kilo ounce imported from Switzerland refiners.
Is this a weird situation or what? Suddenly we hear the Chinese are in trouble, and selling their gold, margin calls etc. Then reports of china over stated gold reserves in past, and just reported lower reserves than previously thought.
Possibly to maintain value of their massive Dollar holdings or reserves. Dollar Yuan and Gold have been pegged tightly for a long time now, you can see on Kitco.
And last week around the 7th? It seemed like the general stocks were starting a bear market, and suddenly looks like a bull market.
just how badly they brutalize pm shares. If any other index plunged 80% banksters would be jumping out of windows all over Wall Street.
Why is silver resilient=not sure=best guess=silver could be a “diagnostic clue” that this will not be
another 2013 event where gold was down 2-or was it 3?–days a row about $80-$90 a day–could be a bullish divergence…just cause it may not be a 2013 event doesn’t mean gold bounces or stops going down…
HUI down 10 days in a row-NUGT down 25% on huge volume! Looks like crap…Buy another thousand!
Day’s Range: 3.91 – 4.54
52wk Range: 3.91 – 51.24
Volume: 51,952,980
Avg Vol (3m): 16,876,600
So if you’re looking for discounts in phiz, let’s keep that in mind. Silver at the moment is down -.2% and SLW -5.70%. This is an exciting future opportunity to load up somewhere here with fat bars and hope for the best. I was always upset I didn’t get a chance to grab enough 10 years ago. Your grand kids may laugh, or get last laughs. Hard to know
until we see a reversal in everything pm.
if they formed a cartel, you are right they’d be harassed and likely prosecuted for collusion. If they just loosely, suspended operations it would be much harder to prove. Nonetheless, the CEO’s of miners have never given a rat’s ass about their shareholders.
Surprised silver isn’t taking a bigger hit, course as usual the miners are getting an outsized hit so nothing to be positive about.
That said…it looks like with=
NUGT=
Volume: 30,o53,027
Avg Vol (3m): 16,876,600
there will be 2 to 4 times the daily amount—in any other mkt but gold, I’d say this could be capitulation volume-we’ll know by the end of the day…
I am not a tech analysis guy…but if gold goes nowhere today near the 1180 low of last nite and either ends the day down…under $20…. or gets near or exceeds unchanged, that could be a sign of a bottom—short or long term….silver is intriguingly resilient…
“NO MAS!” THE FINAL CAPITULATION IN THE PRECIOUS METALS.
Chuck Cohen
Bill, I have used the famous quote “No mas!” by the former great boxing champion Roberto Duran as he threw in the towel years ago in a fit of capitulation. If you remember, the sports world was shocked by Roberto’s concession that he couldn’t take it any more in his championship bout. I felt his cry seemed appropriate for the once confident gold community as we have numbly witnessed the ongoing surreal decline in the entire complex.
But in my analysis we should be hitting a very tradable bottom, if not the actual low at any time. I believe everything is now pointing to a massive capitulation, that once reversed, will lead to the greatest financial mania in history.
HERE ARE SOME OF MY REASONS.
One, besides this Bloomberg article, the gold sentiment as reported by the Sentiment Trader is mired at all-time lows for a very long time. Two, the charts below show the HUI closing down at or near its daily low 17 out of the past 19 days, along with what I believe are many exhaustion gaps. Three and very technically significant, are the two nearly 20% declines each occurring in about a 10 day period last October and again this March. I’m not sure anything like this has ever happened in any index but reflects how dire this last selloff has been. Four, the behavior in the stock market has turned increasingly negative, as I have tried to show in a few of the charts. The uniqueness of the markets over the past three or four years has been totally dissimilar to the meltdown in 2008 when both stocks and the gold shares sunk in tandem.
When you tie these all together I strongly believe we are witnesses to an historic capitulation, and with it a turning point in history. Once the financial structure begins to teeter and eventually rupture, as Scripture says, everything that can be shaken will be shaken. Hebrews 12
I have in the past cited the stock market bottom in August 1982 when pessimism was incredibly rife. At that time, the Dow was still 25% under its high of 1966 (that is an amazing 16 years) and over the last 7 days before the bottom at 776 the Dow dropped15%. And then, suddenly and mysteriously, the Dow shot up 50% in about 4 months and doubled in less than a year and a half.
It is possible that gold and the HUI could soon rally sharply and then encounter a final test in the early fall as all assets hit a liquidation phase, but I see gold holding above these current bottoming levels.
I also believe the opposite behavior in the Nasdaq during the past two weeks is a signal that the never-ending good times are coming to a sudden close. Interestingly, even with the Nasdaq up sharply to a new all-time high (notice that it has now topped the previous high from 2000 ) the breadth Friday in the index was actually negative, with almost all of the day’s impressive rise concentrated in the publicly favored high fliers that sell in the hundreds of dollars. Double top? But could anything that happens in the financial markets and in our world shock any of us?
Anyway here are some charts that I believe support my views that an historic turning point is at the door. Chuck ONE YEAR HUI. Look at those two separate sharp drops in October and March, and actually a third one in May. These signify a capitulation rarely ever seen.
SELLING CLIMAX?
… or at least the beginning of one, I hope!
Argentinian elections heat up as resource sectors offer country platform for recovery
TORONTO (miningweekly.com) – It is likely that the new administration of Argentina, which heads to the polls later this year, will be more business friendly and market orientated, with mining and other natural resource sectors playing an increasingly significant role. “The money will start to flow in again once Argentina gets back on a good, responsible fiscal path. The country will then have an opportunity the likes of which it hasn’t seen in a century – since the heyday,” Argentina-focused project developer U3O8 Corp president, CEO and director Richard Spencer told Mining Weekly Online in an interview. However, with much of the world fixated on Greece and the ‘Grexit’ or China’s recent stock market wobble, Argentina’s economic problems appeared to have slipped under the global news radar. But they have remained a concern and have played a central role in the political campaigns for the country’s upcoming presidential and congressional elections.
more
Martin Armstrong’s computer says the bottom in the PM sector will be in by the first quarter of 2016 and possibly by the 3rd quarter 2015 and he sees gold going to $5000 an ounce so all of this was a necessary wringing out of way,way, way too much bullishness after 8 years up,up,up and now gold is setting up the “false move” MA says so as more and more investors bail out of gold the majority will be wrong because the majority is always wrong per MA and this coming BLACK/NEGATIVE investor sentiment toward gold and the PM sector will set it up for the true/right move which will be “all in” and that then allows the pendulum to swing in gold’s favor….
maybe that’s what just happened with NUGT when Sir Spock said nugt was being bought 5 times over what jdst was being bought so the false move was “buying nugt” when the true place was to be buying jdst—the majority of buyers of nugt and jdst on Friday were buying the wrong move thinking nugt was going up not that jdst was going up
Not doing better than uup (Dollar or Paper Yuan ,but is doing better than $gold ,China Gold ,Gold ETF, Silver …
So it appears Bit Gold is another PAPER CURRENCY ! Its aligned with the Papers or so its being kept there ..
Cuba and the US have formally restored diplomatic relations after an agreement struck last year putting aside decades of hostility came into force.
Just after midnight local time, the diplomatic missions of each country became full embassies.
US Secretary of State John Kerry is due to hold talks with his Cuban counterpart Bruno Rodriguez later in the day in Washington.
Despite the historic shift, both sides admit to lingering difficulties.
There were still “issues that we don’t see eye to eye on”, a US state department spokesman said.
the reason for that is that they would be harrassed by the government in many ways–most having to do with licensing to drill, safety regulations, IRS scrutiny etc etc
That is also why no one has ever seen a mining CEO speak of manipulation on the TeeVee Box.
“Does size really matter?”
I guess it would if you tried to board the train and it was only a foot long. 🙂
SSHHH….! Nobody said it had to be BIG!
Or, to put it another way… “Does size really matter?” 
That pic looks like a diorama. Did you shoot that one in your basement?
Got my first tomatoes yesterday. Eat you heart out!
Just joking … you’re probably half done with your harvest.
Caledonia Mining Corporation: Caledonia Re-Files Technical Report
http://finance.yahoo.com/news/caledonia-mining-corporation-caledonia-files-060000319.html
West Kirkland Updates Prefeasibility Optimizing for Reduced Total Funding; Files Technical Report on Hasbrouck Project
http://finance.yahoo.com/news/west-kirkland-updates-prefeasibility-optimizing-123000945.html
Fortune Minerals Executes Restructuring Agreement with its Secured Creditors to Settle Debt Obligations
http://finance.yahoo.com/news/fortune-minerals-executes-restructuring-agreement-203800302.html
Goldgroup Acquires Option to Earn 80% Interest in El Mozo Gold Project in Ecuador
http://finance.yahoo.com/news/goldgroup-acquires-option-earn-80-113000558.html
Royal Gold Acquires Gold and Silver Stream on New Gold’s Rainy River Project
http://finance.yahoo.com/news/royal-gold-acquires-gold-silver-120000632.html
Sandspring and PNO Announce Signing of Definitive Agreement
http://finance.yahoo.com/news/sandspring-pno-announce-signing-definitive-130000847.html
Going to be very difficult for gold to ever go anywhere when entities have the ability to throw $2.7 billion at the paper market on a whim like they did last night without regard for price. They did the same last week with $1.4 billion. There is nothing to counter that. As for not going anywhere for 10 or 20 years, you could be right.
If I were a mining CEO of a producer, I would immediately suspend operations and hold supply from the market. That’s the only way and even then they still have paper.
when we had those 2 or 3 days in a row with gold down 80-90 bucks—and last Friday and last nite/today silver isn’t participating…that said gold looks friendless and weak as a new born kitten—today gold will be down a record [??] 10 days in a row…during these 10 days I have only seen gold print green 3 or 4 times—the and only by a few dollars and only for a few minutes before getting sold down again
Gold devotees have been saying for years….referring to the relentlessness of the gold suppression, “what are they afraid of”—meaning the collapse of the entire debt-based financial structure—
no way to make a silk purse out of a sows ear–gold’s stinking up the place
I have said for a number of years now that 2011 may have been like 1980…and gold may just be “dead money” for another 10 or 20 years…with no big roaring bull market to the gold bug dream targets of 2000 to 5000 an oz and beyond…just slow, tedious bounces to the 1300-1400 area…
gold reminds me of the 15 minutes of fame the grains had in 1973…I made good money in those mkts…but I know guys that were playing the long side of grains for years afterwards… and lost a lot of money–
