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GREAT DECEPTION AS GOLD HIT ALL TIME HIGHS:1 article fantastique

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MessageGREAT DECEPTION AS GOLD HIT ALL TIME HIGHS:1 article fantastique
par g.sandro Ven 21 Nov 2008 - 2:37

THE GREAT DECEPTION AS GOLD HIT ALL TIME HIGHS

Richard J Green (Gata Soldier)

ça pourra impressionner par la taille de prime abord, mais ça se lit comme un thriller, c'est l'un des meilleurs articles jamais écrits sur ce sujet des mines et sur cette période si déroutante pour ceux qui avaient bien anticipé le krach...c'est passionnant et c'est une lecture indispensable en ce moment, je ne me contente pas de vous le conseiller avec insistance...

Lisez ça vite et entièrement
...
c'est quasiment un ordre...!


Amazingly,
while gold and other commodity related stocks continued to be sold off to
levels that are at deep discounts to their intrinsic value in October, gold
continued to break to new all time highs in most major currencies. On October
9th and 10th gold recorded new all time highs in many currencies including the
Euro, the Australian Dollar, British Sterling, the Indian Rupee, the Russian
Ruble, the South African Rand and many others. The Dow Jones Industrial Average
Stock also recorded a multi decade low in terms of gold. Investors are getting
a very much skewed view of gold’s performance if they are viewing it in terms
of the US Dollar or Yen. These are the two main currencies that have been used
as cheap funding sources allowing speculators to take on incredible degrees of
leverage to invest in higher yielding assets with much better fundamentals. The
excessive debt is being unwound causing a very unnatural rise in the dollar as
overleveraged investors raise dollars to pay down their excessive debt. This
has caused an unlikely gift from heaven for foreigners holding dollars to sell
their dollars which are being printed like at no other time in history while at
the same time they are rising in value due to the even bigger buying by debtors
selling other assets to pay down debt. The same is happening to the yen which
is why in these two currencies gold has not yet recorded another new high like
it has in the majority of other currencies.



The
manipulative attacks on gold and silver are getting more and more desperate and
obvious to the masses. You could say the action on October 10th went just a
little too far to the point where even the mainstream press and media are
commenting on the price discrepancies between paper silver and gold trading on
the Comex and physical silver and gold which is ever more difficult to find
available at any price. While the stock market was melting down on that day,
gold went from up $40 to down $75 in a matter of hours. Silver went from a high
of $12.32 to a low of $9.42 as well. Meanwhile in the physical markets for
silver the best price I could find for silver was $16.50 per ounce, a whopping
$7+ over the “market” price on the Comex. That is an incredible 75% premium!
One ounce silver coins go for more than double the spot price on eBay. The
manipulation has become so obvious we are seeing a steady decline in the weekly
Commitment of Trader’s Report open interest figures for gold and silver. Could
it be that investors are finally realizing that market is a total scam? The
manipulators have been so outrageous, they are precipitating their own downfall
as Comex longs are increasingly demanding delivery rather than rolling forward.
After all, you can take delivery and now sell it for as much as a 75% premium
in the physical markets on eBay, for instance. At this rate they are in huge
danger of having their scam market revealed since there isn’t more than a
fraction of the silver available for all of the demand which has been growing
rapidly in recent times. This should soon result in a reemergence of demand for
gold and silver equities as the convenience of the futures market and very
probably the gold and silver ETFs are called into question. When the fraud is
removed, be prepared for the biggest gold and silver stock rally of all-time.
Right now the stocks are being sold with no attention to the underlying
attributes of individual shares. While many gold and silver stock investors have
had enough and want out at any price, those buying in this selloff are picking
up stocks of companies trading at less than ONE! times earnings or cash flow
and as little as 30% of the cash companies have in the bank. I don’t know if
there has ever been a time in history where a group of stocks has traded so
cheaply while their operations have performed so strongly and that is despite
tremendous manipulation and suppression in their underlying products which are
priced way below what they will be in a free market.



How
could this have happened? This is what we have heard from insiders that
witnessed some of the actions which engineered the selloff in the commodities
sector.



Back
in July, days before Fannie Mae and Freddie Mac were to be rescued, Bernanke
and Paulsen were faced with a horrendous Consumer Price Index release of +5.4%
which had already been deceptively massaged lower through various methods such
as substitution, hedonic pricing, and geometric averaging, generating a number
so low it bears no relationship to reality. Even with all the massaging lower
of the CPI it was felt it had reached a level that would be most worrisome to
the masses, particularly since gold and silver were working their way toward
new highs recorded in March right around the time Bear Stearns blew up.
Incidentally, it has recently been discovered that Bear was likely attacked by
other financial firms since it was long $12 billion in gold derivatives and was
not doing its part in the gold suppression scheme. Bear was no more bankrupt
than all the other major banks and brokers, however, with the incredible
leverage these organizations have taken, (most all are leveraged over 30 to
one), a rumor about such a firm’s liquidity will soon become a self-fulfilling
prophecy since there is constant refinancing going on.



Paulsen
knew that top performing hedge funds had been making a killing riding up the
long term wave of higher commodities and shorting financials. He was already
validated in 2006 by his successful efforts to drop energy prices by getting
his ex-employees at Goldman to change the weighting in the widely followed
Goldman Commodity index over night. This caused a cascade of selling by
indexers when the surprise change hit the press.
The scrambling resulted in the failure of Amaranth, a
large hedge fund specializing in energy which caused more selling.



This time it has been reported that in July,
Paulsen went to big institutional investors such as CALPERS which had big
exposure to the well positioned commodity sector and after relaying the
seriousness of the condition of the financial system, persuaded them to sell
their commodity related investments “for the good of the nation”. He wanted to
turn the inflation scare suddenly to a deflation scare. With a few big
institutional investors leading the way combined with rampant naked short
selling of gold and silver equities by the likes of Goldman reported by
Canadian brokers, a wave of selling in this area was put in motion that
snowballed. The illogical selling resulted in broken technical patterns of
stocks resulting in more selling. This has resulted in a high level of
redemptions in gold funds that forces managers to sell even when the stocks
trade lower than the cash the company has in the bank. A way to check if this
is what happened is to analyze individual companies and see how they have
performed. For the most part there is nothing that should result in a selloff,
as these businesses are among the strongest in the world today despite
suppressed prices for gold and silver that would be much higher at this time.



Silver is king, Go Gold !
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Dernière édition par g.sandro le Ven 21 Nov 2008 - 2:46, édité 3 fois

   g.sandro

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Message2
par g.sandro Ven 21 Nov 2008 - 2:37

It is truly a disgrace that the modus
operandi of our financial leaders is to send false signals to the marketplace
and cause cascading selling and buying after having those in the know
positioned to take advantage of the effect. That could have another name –
robbery. The bifurcation between the price of the physical gold and silver
market and the “market price” as represented by the Comex is an indication that
a vast number of participants in these markets have come to the realization,
finally, that the market price on the Comex is a total sham. It is most
unfortunate that those that have invested in gold and silver to protect
precisely against the financial dislocations that have accelerated since Bear
Stearns was driven to insolvency, are putting in for redemptions or selling
personally because “something is wrong”. Physical gold and silver in your own
possession can not be ruined although its perception can be tainted by those
that believe the fraudulent pricing from the Comex actually means something. Gold
and silver are the mortal enemies of fiat money since fiat is always eventually
abused to the point of worthlessness. Since the very banks which have an
interest in seeing gold and silver discredited have access to unlimited
borrowings from the Fed and have no restrictions whatsoever from driving the
price of the metals and the stocks down, you can not rely on any message that
lower prices of these invaluable assets is bringing. There are huge numbers of
investors that are currently paying 70-100% over Comex prices for silver and
15-20% over for gold.
These people are clearly not paying attention to what the Comex
“market” reflects. Gold and silver serve a very special function in the
protection of one’s assets and in a fiat money system gone totally out of
control that is even more true. Investors need an appropriate weighting in
precious metals that should not be sold because a line has been broken on a
technical analysis chart. Even though it does not seem to be working while it
is apparent that it should, it is the type of asset that will probably work all
at once, when the constant manipulation is suddenly overcome by natural forces.
Central bankers and the money powers are masters of all things paper. They very
cleverly found a vulnerable area to exploit when they noticed hedge funds were
very long in this area and that they were using excessive leverage. With a
little cooperation from a handful of very large institutional investors they
were able to initiate a domino effect of selling making this traditional safe
haven look totally ineffective while in reality the selling is a result of
holders using leverage and self defeating stop losses that takes them out of
the sector when it is most needed. Those that were overexposed or leveraged in
this area should bring their weightings down to an appropriate level but to
abandon the sector completely at this time is very foolish. Gold and silver
should protect assets from either inflation or deflation; however, a very rocky
period before that protection becomes apparent should not be totally unexpected
and reflects no understanding of what the recent manic money creation will
bring about. The huge losses being experienced now are more due to not
understanding this than anything else. Stocks can protect somewhat in a period
of inflation but bonds would be lethal and unrecoverable. Deflation would make
highest quality bonds acceptable but stocks would suffer. Cash would only
protect in the case of deflation or in the initial stage of inflation
coinciding with the period before that inflation rolls into the real economy.
That is probably what is occurring now and you should be protected in t-bills
until it is apparent that inflation is going to be so high that your purchasing
power will be wiped out rapidly. In an era when most all major banks are
recklessly leveraged at 30-40 times their equity it is clearly not safe to have
much cash vulnerable to likely bank failures. To do a check on these statements
look at the evidence from the Bank of International Settlements. Despite the
belief that banks and financial companies are deleveraging there is almost
triple the amount of derivatives as there was over a year ago at $1.4
quadrillion! The money powers are less in control every day and that is why the
attack on gold and silver has been so vicious. They have been unsuccessful from
stopping other countries and investors from pulling all the available gold and
silver off the market and these are the holders that will have the economic power
down the road. You can bet when all the leverage unwinding ends, the financial
companies that were successful in engineering the selloff will be the new big
owners of the stocks and metals that are being thrown away for less money than
the companies have in the bank. Firms such as Goldman have vital information
since they are among the largest prime brokers. They know how leveraged
specific investors are and can use that info against them. One major prime
broker raised their in-house margin requirements on mining stocks from 50% to
100% “because they are so volatile”. Obviously this resulted in more forced
selling. They always pull out every trick in their bag to make sellers for what
they want to buy. With the information they have in hand is it any wonder that
the market can go up 900 points one day and then down 800 the next? They are
gaming positions that should be privileged information. Ex-Goldman employees
entrenched in key Government positions in many countries help the money powers
influence policies such as continually attacking the gold and silver markets.
In July, two US banks sold paper silver in a very short period of time equal to
1/4th of an entire year’s production driving the silver price from over $19 to
around $12 in a few weeks time.



The
Government and their agents have spent the last decade propping up zombie
companies such as GM and the banks, and suppressing free market movements in
gold and silver. They continue to add to the problem with the massive bailouts
and money creation that is the key factor driving gold and silver up which is
what they so foolishly are trying to stop. As derivatives positions blow up,
the dollar gets a boost as failing counterparties try to raise dollars to pay
off their failed bets. A very huge portion of the $1.4 quadrillion in
derivatives is positioned directly against what the natural pull of a free
market that would cause asset prices to move to. More specifically, interest
rates on bonds would be very much higher, gold and silver would be very much higher,
debt of most major corporations would be unsalable except at dramatically
higher interest rates, etc. etc.



The
key problem of the financial system is too much debt and leverage. All
solutions so far to the key problem involve more debt and leverage. That is why
derivatives have almost tripled since this crisis began over a year ago and we
are no closer to a solution.
Gold and
silver are even better values now than ever. The $700 billion bailout which we
were vehemently opposed to went to the banks and to furthering the goals of the
financial powers which is not in your interest. Not a nickel of it has gone
toward extending more credit to consumers, nor will be, you have been lied to. Guaranteed,
some of it has gone to holding back the gold and silver price and from exposing
the reality of the situation.
Write your Congressman and complain, let
them know you see what is going on. We do.



There
are many money managers that clearly see what is going on and they have taken
the appropriate steps to address the current scene. Managers such as Jim
Puplava, Eric Sprott, John Embry, John Hathaway and many others have taken the
correct steps. Their performance has not reflected that they are the correct
steps but that will come in time unless we let the financial powers take from
our very hands the investments that will protect us from their actions. No
leverage whatsoever should be used in this environment. The only way you can
have these stocks taken from you is if you are using borrowed money. Gold
stocks, silver stocks, and uranium stocks have fundamentals so strong that they
can not be hidden despite the unprecedented attempts to make them look bad.
This is why silver trades as much as 100% above the phony paper markets. You
should be increasing your exposure to these assets not withdrawing from them.
The upside is absolutely unprecedented. Gold and silver stocks have never been
cheaper relative to gold and silver than they are right now. If you are
overexposed, cut back, do not withdraw completely. Do you own physical gold and
silver? It is absolutely essential and can still be sold at close to all time
highs despite the bogus paper markets. In this investment climate gold and
silver should not only be a permanent part of your portfolio no matter how the
investments respond in the turmoil, it should be an increasing portion.
Physical metal is very difficult to acquire if you have waited to this point so
do not give up on your gold and silver stocks. They have direct possession even
if it is still safely below the ground.



Put
the vast majority of your portfolio in cash generating gold and silver
companies, there are many which trade below three times cash flow and even one
times cash flow. Many, if not most, have more money in the bank than their
entire market capitalization. Panic selling initiated by the Paulsen and
Bernanke white wash did little to calm the nerves of the market place. It did
shut off the escape hatch of gold and silver that will benefit like no other
area when the money printing accelerates and escapes into the real economy. At
that point, and we believe it is very soon, those that have sheltered
themselves in cash and bonds will be annihilated and will be too afraid to move
to the safety of gold and silver after what was just perpetrated. This is truly
criminal activity, be aware of it and stay sheltered with an appropriate
percentage of your assets.



Silver is king, Go Gold !
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Message3
par g.sandro Ven 21 Nov 2008 - 2:38

The
capital that has been cut off from mining will most definitely create an upward
explosion in the price of gold and silver like nothing we have ever witnessed.
Demand for gold and silver continues to mount, particularly on the investment
side while supply is in the early stages of absolutely plummeting. Gold
production was down 6% in the first half of the year and will be much worse in
the second half. Some companies we spoke to are moving to slow their production
because they feel the Comex prices are just ridiculous. We agree and are glad
to hear they hesitate to throw away scarce product for an inadequate price.
Silver production will likely skid sharply if the situation continues. The zinc
price has dropped all the way back to .48 while industry breakeven is closer to
the $1 mark. 32% of silver production comes to market as a byproduct of zinc
and another huge portion over 25% comes as a byproduct of copper. The stage has
been set for the most remarkable and likely rapid rebound of all time. The bull
market in gold and silver and all commodities was catalyzed by a very long
period of underinvestment and lack of capital. That situation is clearly being
exacerbated by the events of the past five months which will cause an even more
explosive upside than before. The supply side will be affected much quicker and
deeper than any falloff in demand due to weak world economies. One can not just
decide they all of a sudden would like to go find a new gold or silver mine or
uranium field. Physical commodities must be priced above their production cost
or the supply will simply dry up which is exactly what we are seeing in the
gold and silver markets. Intervention can last for quite awhile but eventually
the artificial prices result in ever bigger shortages and upward pressure on
prices. People know that gold and silver should really be doing better now with
all we have seen transpire this year so some people are using that as a
justification not to buy it. As John Embry has said, “that is exactly the
mindset the guys driving the price down are trying to create.” You can be sure
when they can no longer drive it down they will be the big owners when it all
bottoms.



Stocks
in these sectors are trading at ridiculously low valuations based on earnings,
cash flow, reserve values, and even just cash alone in the bank. This is
clearly not a time to sell these companies yet investors have continued to do
so forcing fund managers to sell stocks trading at a fraction of their real
value to raise cash. As overleveraged hedge funds and investors sell
investments and buy back dollars to pay off debt, the artificial strength of
the dollar will persist until the debt is retired. Yes, believe it or not,
there is global demand for the US dollar at a time when the country is
fundamentally bankrupt which few yet understand in the US. This has all been
set in motion by Paulsen and Bernanke with their scheme in July to twist the
arms of big institutional investors to sell their commodity investments. The
companies continue to report good earnings results even with the unnaturally
low gold and silver prices. It is impossible to know exactly when the selling
will stop since investors want out of the strongest performing industries
remaining in the US. If they would only take a hard look at what they are
selling the selling will stop but all things must run their course. The sad
part is just as investors run to cash we are ever closer to seeing just how
unsafe cash is. We have been wary of banks all year to the point of not
allowing much cash to sit in them. Our worst fears regarding how unsound banks
are has proven out. So far damage to depositors has been minimal as bigger
banks that are in even worse shape have rescued bankrupt banks like Washington
Mutual and Wachovia. Gold and silver continue to improve fundamentally with:
wars on two fronts; huge, unprecedented and growing budget and trade deficits;
ongoing financial crises with many more banks to go under; a recession that
will uncover more financial problems; a flawed national energy policy; and
improving supply and demand fundamentals. In addition, the monetary base is up
over 50% over the past few months while other money printing to fund bailouts
has even exceeded that. The Fed has kept its word that it is ready, willing,
and able to print money in any quantity necessary to back these bailouts of the
financial powers.



The
uranium price moved down in October as hedge funds and financial players that
were hoarding uranium metal were forced to sell in the deleveraging process. I
was never a big fan of hoarding metal that already is experiencing shortages
for its basic applications. Good for the electric utilities that got some
material at a bargain price that they will find ever harder to acquire in the
years ahead. The price has started to move back up over the past few weeks.



When
you look at the actions of our Treasury Secretary and the Fed you have to
question either their sanity or honesty, it is one or the other. The
Government’s borrowing needs for next year are already expected to double to
over $2 trillion. Contrast the recent bailout plan initiated by China with
ours. The China plan is focused on infrastructure with such things as railways
and public housing that will require ongoing demand for commodities with a
real, lasting product that can be used many years into the future. The US plan
is focused on funneling $100’s of billions of dollars and eventually trillions
to failed financial firms as well as uncompetitive industries the most glaring
of which is the US auto industry. These are the companies that caused the
problems we have now. The Administrators running the bailout were complicit in
this entire mess. AIG was just handed another $40 billion now raising that
bailout for one firm to over $150 billion. AIG has been rumored to be the
biggest short seller of gold and silver. Does that seem like a worthy bailout
to you? Contact your Congressman! There should be no more bailout money
funneled to the bankrupt Wall Street banks and brokers. American Express was
just converted to a bank so it could too get on the gravy train. Enough! Let
the chips fall where they may so we can start over. The current plan is just
taking more from you and me in favor of the financial elites in power. The
sooner it stops the better. Make no mistake, the market and the media can be
moved at will with all of the financial weapons we have handed over. Congressmen
were threatened with Martial Law if they did not cede all the requested powers
along with the $700 billion. Protect yourself with t-bills and gold to the
greatest extent possible. Be very wary of cash held by banks or any
counterparty.



If
you were a businessman and you bought a company that was generating cash equal
to what you paid for the whole company or even 1/3 of what you paid for the
whole company would you be upset and want to sell it? That is, in effect, what
you are doing if you sell these companies that are trading at these very low
valuations. It makes no sense but it is happening.



Richard
J. Greene



November
19, 2008



Silver is king, Go Gold !
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MessageVersion traduite approximativement en "français" par Google =>
par g.sandro Ven 21 Nov 2008 - 9:59

c'est vraiment de la balle cet article, je vous mets aussi la version
traduite en automatique pour ceux que l'anglais rebute encore...

cliquez ici



Silver is king, Go Gold !
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MessageRe: GREAT DECEPTION AS GOLD HIT ALL TIME HIGHS:1 article fantastique
par marie Sam 22 Nov 2008 - 1:15

yep, c'est vraiment, LA lecture conseillée pour ce wend !



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