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Gold will go 2,000 per ounce

Throughout time, there have been countless government and political conspiracies that have kept us wondering. This forum is dedicated to that very topic. Got a conspiracy theory of your own? Post it, and try to back it up as best you can!

Postby jaydeehess » Mon Oct 26, 2009 3:24 pm

jaydeehess wrote:Oct 5, $1019/oz
long way to go yet.



It went from $1056 to $1038 today.
Trend is up but today it went in the wrong direction
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Postby CodeBlack » Thu Oct 29, 2009 4:57 pm

Nice going, Goldmember.
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Postby kathaksung » Mon Nov 16, 2009 12:48 pm

612. War crisis in September (10/29/09)

From #593 to 607, I talked about how the Feds attempted to frame a drug case which was to be covered up by Iran war. The war would be justified by North Korea. In three months from April to July, N. Korea launched a ballistic missile heading to Alaska area on 4/5; did a nuclear test on 5/25; and planed to launch another ballistic missile to Hawaii area on 7/4. The 7/4 plan went soured. I think because I revealed that Iran war could have been justified by a shipment of nuclear weapon from a N. Korea's ship. That ship failed to go to its destination and finally returned to N. Korea. So that project failed.

A new attempt came in September. On 9/25, Western intelligence accused Iran of constructing a secret underground uranium enrichment facility in Qum and of hiding it from international inspectors for years. Following the revelation, media said that US would demand to access to other sites that have long been off limits and demand Iran to answer detailed questions about its suspected efforts to build nuclear weapons. A tough new sanction would be seek if Iran resisted. It means the war may start any time when Iran doesn't obey the demand.

The response from Iran was swift. Next day, Iran said it would allow U.N. inspectors to examine the newly revealed secret nuclear site. One month later, on 10/26, inspectors of IAEA examined the covert nuclear facility in Qum. Iran is very humble and cooperative this time. Iran felt the threat of war.

So said terrorists came out to help. It's not a coincidence.
The news of Secret nuclear site in Iran was released on 9/25 by western intelligence. Here are the other news:
* "Terror suspect charged in plot to make bombs. Denver man may have planned to strike there or N.Y." (By W.K.Rashbaum, New York Time, 9/25/09)
* "Bomb plot arrests in Illinois, Texas". (Chicago, AP, 9/25/09)
* On same day - 9/25 - "Osama Bin Laden demanded that European countries pull their troops out of Afghanistan in a new audiotape Friday, warning of "retaliation" against them for their alliance with the US in the war." (Caro, AP, 9/26/09)

As I always said, the war will be justified with nuclear horror, terror attack, either it is done by North Korea or Al Qaida. Though the media didn't propaganda it as a crisis, there was a war crisis in September. You can judge it how collaborated they were on Sept. 25 - Western intelligence, FBI, media and Bin Laden - when they release the news at same time.

613. Iran war and another economic tsunami (11/12/09)

I have said that the purpose of Iran war is to save US dollar. Because Iran had abandoned dollar in oil trading, US has to keep the oil price at about $80/barrel to maintain the value of dollar in internetional money market.(see "556. Petro-dollar, the cause of Iran war (7/4/08)").

There were four big attempts to start the Iran war in past three years. 1. On 8/30/2007, a B-52 "mistakenly" carried six nuclear missiles to fly over the US continent. 2. On 8/8/2008, when Olympic Game ceremony opened in China and Russia invaded Georgia. 3. During April to July/4/09, when N. Korea tested its ballistic missile and nuclear bomb. 4. 9/25/09, when a secret nuclear facility in Iran was revealed and US gave Iran an ultimatum.

If the war on Iran plot have gone through, then Iran would be forced to go back to dollar system in oil trading, the oil price would go normal - that is around $20 to $30/barrel. But in the short period around the war time, what will happen? The oil price will go high, the dollar will go to historical low, and the gold, will go up like a rocket. Will those who planed the war project miss such a good chance to make a fortune? We know in 911, there was unusual trading in stock market that bid the downwards of air company because someone knew a disaster would come. So was in 8/30/2007's plot. Do you still remember the oil price had been manipulated to $147/barrel before 8/8/2008 plot? This time they focus on gold and money market. I felt this when I saw the "Cash for gold" advertisement in August. I wrote "609. About gold price and inflation (9/16/09)", predicted that the gold would go $1,500/ounce or higher, Euro would go 1.6 dollar/euro or higher, and yen would go 80/dollar or higher this year. On 9/25, Iran war crisis suddenly broke out. US gave a three months ultimatum to Iran. (that would be 9/25 to 12/25) If Iran hadn't humbly made a swift response, three months is enough to push the gold price to $1,500 to $2,000/ounce. I did foresee another economic tsunami ploted by the Feds.

The ripple of September Iran war crisis:
1. Obama was awarded Nobel Peace Price on Oct.8/2009. It's true that Obama didn't do anything big enough to get that prize. My interpretation is that the European elites who, too, felt the coming war crisis. This action is an effort to stop the war before it happens. It also explains why there is a noise in US media. Because it really makes the war more difficult for a Nobel Peace prize winner. That makes the Feds unhappy.

2. On Oct.18, bombing in Iran killed five senior Revolutinary Guard officers. Iran accused Pakistan, the US and Britain were behind the attack. Such kind of case needs intelligence resource. It obviously is a provocation. Because on Oct.24, the inspectors of IAEA would come to Iran to examine the covert nuclear facility. If the Iran regime was enraged by the death of their top ranking commanders and changed their decision of accepting the inspection. Then the war became possible. Once again, Iran humbly swallowed the bitter fruit. Iran still opened the door for the UN inspection. Iran knows it faces a war.
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Postby rath » Sun Nov 29, 2009 7:30 am

Australia Surpasses U.S. as Second-Biggest Gold Miner: Surbiton

Nov. 29 (Bloomberg) -- Australia surpassed the U.S. as the world’s second-largest gold producer in the first half of this year as output dwindled in the U.S., a research group said.

Australian gold output rose to 112 metric tons in the six months to June 30, Melbourne-based Surbiton Associates Pty said in an e-mailed statement. China produced 147 tons and the U.S. 105 tons, the report said. Australian output in the three months to Sept. 30 was little changed at 56 tons, or 1.8 million ounces, the research group said.

Bullion jumped to a record this month as the dollar’s slump deepened, prompting central banks to buy the precious metal. Australia produces about A$7.5 billion ($6.8 billion) worth of gold, according to Surbiton.

“With the continued decline in South African output and lower production in the U.S. in the first half of 2009, Australia has regained the No. 2 spot,” said Sandra Close, a director of Surbiton Associates, which collates results from Australia’s gold-mining companies to produce its numbers.

Newcrest Mining Ltd.’s Telfer mine was Australia’s largest producing mine in the quarter with output of 162,929 ounces, the report said. The Super Pit, a venture involving Newmont Mining Corp. and the world’s largest gold producer, Barrick Gold Corp., ranked second at 162,000 ounces.
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Postby jaydeehess » Tue Dec 08, 2009 9:07 am

jaydeehess wrote:
jaydeehess wrote:Oct 5, $1019/oz
long way to go yet.



It went from $1056 to $1038 today.
Trend is up but today it went in the wrong direction



Gold closed at $1157 yesterday, its presently at $1150.

Kathaksung started this thread in Sept 09 stating in his secind post
Gold will go $1,500 to $2,000/ounce in recent days


One wonders at the definition of 'recent days' is when after 3 months it has gone up by $200/oz (since late August)
In order to get to $1500/oz it will have to gain $550 over its August price. In 3 months it has gained 1/3 of the rise to $1500/oz and only 1/5 of the rise to $2000/oz.

At the present rate of climb it will not hit these targets until next summer.

I know, a lot could happen before then. In fact this price could drop like a stone leaving all those who jumped in late with a lot less than they originally had.
Math, science, history unraveling the mystery, that all started with a Big Bang.....BANG!!
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Postby kathaksung » Tue Dec 08, 2009 12:56 pm

615. Gold rush in the end of the year (12/5/2009)

In early September, in #609, I predicted that "Feds is preparing another financial tsunami in the rest days of this year. ..... The price of the gold will go $1,500 to $2,000/ounce. The exchange rate of the Japanese yen will go 80/dollar or higher. The Euro will go 1.6 dollar/Euro or higher."

The gold price was around $1,000/oz at that time. It reaches $1,200/oz these days. Euro now is $1.5/Euro and yen is about 87/dollar.

The speculators gathered the gold at the price around $900/oz. To set the profit margin at $1,500/oz is natural. It can be reached in the rest days of this year. How high the gold price can go after it passing over $1,500/oz? It depends on the situation how successfully the speculators unload the hot potatoes (high price gold) into the hands of public. At that time, notice the big topic in the media - war, inflation, article to praise the value of gold and report of the short supply of it.... It's the time the speculators retreating from the gold market.

Time likely will be the last week of this year. It is a long holiday of Christmas and New year's day. While most people are on vacation and won't care much on the financial market, it will be easy for speculators to manipulate the market to push up the gold price.

Also I have talked about "China and India co-operate with the Feds." to push up the gold price in that September message. Seven weeks later, on November 3, the IMF sold the Central Bank of India 200 metric tons of gold at $1043/oz. The news helped the gold went over the strategic point of $1,100/oz easily and stood steady there. My prediction is once more proved correct.

As a matter of fact, it was the Feds which is the hand behind the stock market collapse of 2000 (dot.com bubble) and the housing bubble of 2007. As early as six years ago, I wrote "180. Beware of housing bubble (11/16/03)". In which I said, "anytime soon there will be a broken housing bubble, and a staggering economy following it." Anyhow, the Feds failed to eliminate me. So the housing bubble kept growing up until it explodes in 2007. We all see the staggering economy now.
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Postby jaydeehess » Tue Dec 08, 2009 3:58 pm

Time likely will be the last week of this year.


It will crash then?

It will be at $1500-$2000/oz before then?
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Postby rath » Sat Dec 12, 2009 11:04 am

kathaksung wrote:615. Gold rush in the end of the year (12/5/2009)

In early September, in #609, I predicted that "Feds is preparing another financial tsunami in the rest days of this year. ..... The price of the gold will go $1,500 to $2,000/ounce. The exchange rate of the Japanese yen will go 80/dollar or higher. The Euro will go 1.6 dollar/Euro or higher."

The gold price was around $1,000/oz at that time. It reaches $1,200/oz these days. Euro now is $1.5/Euro and yen is about 87/dollar.



Gold will crash for sure.

The USA has NO influence on the gold price at all.

The USA is like Australia & Africa.

Sellers of gold.

India & China set the demand fro gold & thus the gold price.
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Postby rath » Sat Dec 12, 2009 11:16 am

http://www.bloomberg.com/apps/news?pid= ... rknf1puOXI


http://business.timesonline.co.uk/tol/b ... 936926.ece


http://www.telegraph.co.uk/finance/chin ... erves.html



December 11, 2009

AAP news.

Gold to average less than $US1000 in 2010, says Capital Economics

THE price of spot gold is more likely to fall than rise next year, with the metal to average less than $US1,000 a troy ounce, in part weighed down by a stronger US dollar, London-based Capital Economics said today.

The forecast added its weight to a view that gold has further downside ahead.

Spot gold traded at $US1134/oz at by early afternoon, up $US6 from late New York but down almost $US100 from a record high December 3 of $US1226.50.

Capital Economics said that while gold prices hadn't risen to unjustifiable levels, that won't prevent prices from falling back sharply next year as some of the fundamental supports for gold fall away.

The US dollar, to which gold is negatively correlated, should recover some ground in 2010 as worries about the inflationary impact of unconventional monetary policies fade, and as it regains some of its safe haven appeal to investors, according to the group's capital daily note.

Two developments over the last week have also prompted others to question whether a bubble in gold prices has burst or is about to do so, it said.

First, the sharp fall in prices from last week's high and second, officials from two of the central banks widely assumed to be enthusiastic buyers of gold, China and South Korea, are reported to have said that prices are now too high.

Capital Economics isn't alone in thinking gold could fall further.

Investec Australia said yesterday the price could fall toward $US1000/oz by year end, as investors rush to take profits and wait for a new influx of monies in the New Year.

Analysts at ScotiaMocatta said that while gold stabilised yesterday after the dramatic correction off last week's high, technically, a risk remained for a further drop to channel support at $US1088, due to a multiple-day close below former key support at $US1138.
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Postby rath » Sat Dec 12, 2009 11:33 am

Fact is there are to many people ? countries trying to manipulate the price of gold for their own advantage, that it will stagnate the price from either going up or going down very much either way.



Bloomberg


The FDIC now puts the number of troubled banks up to 552. We all know by now that the metrics that measure this are designed to be passed, and very hard to fail. But still, the new number is quite high and likely understated by 100% on the very conservative side.

The FDIC is already $8.2 billion in the hole. Didn’t they just go negative last month?

There are no failed banks, aka, biggest losers, this week as Thanksgiving mostly shut everything in America down.

The potential debt default out of Dubai rocked markets around the globe late in the week.

The U.S., Japan, ECB, UK, Germany, Italy, France and Switzerland have gold making up on average 37.9% of their reserves. This is in stark contrast to countries such as China, Russia, India, Taiwan, South Korea, Brazil and Singapore who’ve only got a 2.2% weighting on average.

These counties are cash rich and gold poor. Much of their reserves are made up of the depreciating US dollar.

Friday’s major gold takedown, then melt-up is further evidence that countries on the second list are buying physical gold on any dip in price. Even such a small drop in percentage terms brought the buyers out in force, quickly. There is no time to waste as the race to buy as much gold for as cheaply as possible is on.

Perhaps this funds selling gold first and asking questions later as the Dubai debt issues floated to the surface sparked the move by triggering stops. Whatever the case it was short-lived.

When compared to India’s recent 200 tonne purchase which only cost $6.7 billion. These countries have over $4.1 trillion in reserves. If they were to increase reserves of gold to only 5% that would be $115 billion which simply could not be supplied.

Speaking of the above, Russia bought 0.5 million ounces gold in October as they were saying they would sell. You got to love their way of accumulating, unlike Gordon Brown’s announcement that they would sell gold before they sold it, I suppose in order to minimize their revenues. I just can’t explain that move other than to manipulate the price lower, but that was very short lived and sparked this current gold rush. This brings back memories of Putin holding that famous gold bar years ago. It was a sign to the world in 2005, literally.

Russia also bolstered the Canadian dollar as they announced their plans to diversify into it, but it’s since come back to near where it began. The Canadian dollar has been one of the best performing currencies this year rising over 16%.

India is hot on the scent of the IMF’s remaining gold. They are reportedly open to buying the remaining gold. I doubt they are the only bidders.

Sri Lanka has bought 10 tonnes of gold from the IMF this past week. In the article they mention that Sri Lanka has a 20 month $2.7 billion loan from the IMF. So they borrow some cash and buy gold from the same organization. Nice move! Central Banks globally have stepped up buying gold since it’s breached the 1K level. Why did they wait for that magic number to fall? This is certainly not a sign of a top in gold yet.

Another admission came this week that miners are having a heck of a time replacing their mined gold. This is but one reason I am focusing on the smaller companies with small scale production, proven deposits or whom are close to finding one. Those companies will be swallowed whole, by the majors as we continue on. I say, bring on the bidding wars!

I still don’t quite know what the result will be regarding the Canadian Mints missing gold. They now say the gold was double counted and also they underestimated the shrinkage during processing. Haven’t they been in this business long enough to know exactly how much they lose in processing. The mint even burns clothing periodically to recapture gold particles. The $360,00 taxpayer funded audit didn’t come up with any double counting problems many moths ago, and that’s why the police were called in. Now they say it was an accounting error. If true, how about a refund, or at least partial refund for the failed audit? I doubt we will ever learn the truth in this one, but something fishy is going on.

Reports of Krugerrand gold coins running out are circulating these days. The real shortage is a ways off though. But articles such as this have raised the premiums investors pay on coins.

After last week saying they would reinstate certain coins early in December the US Mint this week has suspended sales of the American Eagle 1 oz gold coin. The funny thing is that they say they will resume sales early in December. Isn’t that next week? Or do they mean December 2010?

A major depository in the US is asking retail investors to remove their gold and silver from storage. The excuse is that retail investors aren’t profitable enough. The real story is that for many years the retail customer was their only customer. Now their “buddies” with the big money want a place to keep their gold and are giving us little guys the boot.

New Canadian legislation is being considered by government, and opposed by miners. Canadian based miners operating in developing countries would be governed by Canada. The bill would allow Canadian officials to receive environmental or human rights complaints and take appropriate action.

It’s still in the early stages, and the miners say it would create a strong incentive for companies to relocate outside Canada, would risk their competitive positions, result in reputational damage, and undermine their current collaborative approach to corporate social responsibility and damage the Canadian economy. I don’t think this will pass since it would in my view both move companies outside Canadian jurisdiction and not see new companies formed within. It’s all about growth and this would be a major mistake at a major crossroads.
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