Beiträge von Aladin

September 20 - Gold $466.70 up $7.10 - Silver $7.33 up 12 cents

Gold Move Up Rinky Dink Thus Far

"We cannot direct the wind, but we can adjust the sails." - Bertha Calloway

My flight was cancelled due to Hurricane Rita. Still here in South Beach until tomorrow afternoon. The rain and wind were a fury this morning.

Worked on my MIDAS all day, only to have it get erased somehow right after the stock market closed a while ago. Therefore, going to list the points of the day.

*The AM Fix came in at $470, up over $3 from the Comex close. As is so often the case, The Gold Cartel went on the attack going into the Comex open. The bums took gold down over $2 several times, but could not break the market. Locals were forced to cover shorts late.

*MOST EVERYONE is called for gold to correct from here. Never seen such unanimity on a trade. Bodes well for the bulls.

*Gold is only $50 higher than where it was nearly 10 years ago. Big deal. Oil rose 7 times off its low. That would put gold at $1750. Now that would be something to talk about.

*The gold move up thus far is really rinky-dink, compared to what lies ahead. Most of the gold world and Planet Wall Street are clueless because they refuse to deal with the most significant aspect of the gold market: it has been a rigged market for many years and is artificially suppressed by hundreds of dollars per ounce.

*There is a massive short position out there, 12,000 tonnes at a minimum. The Gold Cartel and allies are desperately selling gold to protect that short position. Eventually, it will blow up. Has to. The central banks are running out of available gold to meet the rising demand.

*The gold open interest rose 11,895 contracts to 359,091, indicating how aggressive The Gold Cartel selling is.

*The silver open interest gained 1015 contracts to 117,196.

*A bullish silver development: the Comex reduced spec margins from $2700 per contract to $2025. This gives spec longs more flexibility.

*Copper refuses to go down. It rose more than a penny to $1.66 and change. The September contract still has 4878 contracts open with not that much trading time left. Could be some fireworks here.

Commentary on gold is now center stage. Most of it is inane, or humorous. The CNBC types and Planet Wall Street are going to The Gold Cartel and other bullion dealers who are short for expert commentary. Almost none of these folks have been bullish during the four year bull market move. Since they are short, the last thing they want is for the investment world to really understand what is going on here.

The oohing and aahing we are hearing now is nothing compared to what lies ahead.

The John Brimelow Report

JB Gold Comment: ECB sells again - but are Europeans the buyers?

Tuesday, September 20, 2005

Indian ex-duty premiums: AM $3.24, PM $2.08, with world gold at $466.20 and $468.50. Adequate, and dubious, for legal imports. After faltering at the start, the rupee firmed up this afternoon. The Bombay Stock Exchange closed up 0.66%, another record high.

Reuters carries the usual story about the scaling back of physical off take. Imports into the most efficient portal for India, Ahmedabad, are said to have slowed to a trickle (but not stopped). Similarly, Singapore premiums are down - but only from 50c to 30c. Further east the bullion market is weaker, but China and Japan are sideshows in the physical gold world.

This morning the ECB was obliged to disclose that "one Eurosystem central bank" sold E57 Mm of gold last week (which works out at 4.9 tonnes). This was claimed to be

"consistent with the Central Bank Gold Agreement of 27 September 2004".

How nice to see Central Banks have a sense of humor! Coming after three weeks of no sales, this put the Central Banks about 15 tonnes over the Washington Agreement with two weeks to go. Possibly this was a long-dated call agreement surfacing. Nevertheless, it is strange to see the sale being announced. The ECB’s own large sale in March did not show up in the books until May. Rumor has it that several subordinate banks have recently been active sellers, for post- September delivery/disclosure.At the least this embarressing event suggests sloppy housekeeping by the ECB banks.

On Monday afternoon in NY an immensely determined effort was launched in the last half hour of Comex trading to force the price down. Estimated volume rocketed 63% (33,000 contracts – not so long ago a reasonable daily total); gold fell less than $2. Aggressive selling on ACCESS followed, as did an ominous swoon in the gold shares. Just before TOCOM opened gold was $3 below the NY close.

At that point massive buying pushed gold back up to the NY close, quickly forcing TOCOM up the limit. Only the equivalent of 20,297 Comex lots traded (-53%); open interest slipped the equivalent of 1,347 Comex. (Confusingly, the Mitsubishi data implies a 6.8 tonne increase in the general public long.)

It is not clear this buying was Japanese in origin. The fact that it continued well after Japan closed such that the physical-intensive London AM fix was $470, with gold trading over $469 for more than three hours in the European morning, suggests that it was not.

The facts appear to fit the view expressed by a bullion dealer to Reuters:

""It is not just fund buying from the U.S., which is usually the driver. Now we're getting a lot of investor interest in Europe," said Jeremy East, global head of precious metals at Commerzbank.

That was also backed up by gold trading at record highs in euro terms at 387.

"We're seeing clients here, people who haven't been in the market for quite a while, coming in with quite a large interest to buy gold," East said.

"These are the sort of clients who will stick it away for a few years"."

HSBC makes a worthwhile observation:

"…there are two factors which may imply further upside to gold. The first is that recent trading has seen a number of new entrants to the market, which would imply that the potential maximum net long fund position is higher than in previous rallies. The second is that much of the renewed interest in gold has been through the trading of eurogold in its own right (and with increased market attention and commentary as a result). This might mean that the positions are not as sensitive to moves in the dollar gold price if any moves are offset by currency movements." (JB emphasis.)

It was notable that the late afternoon rally today was more pronounced in eurogold.

The arrival on the buy side of gold of serious European buyers would be important. Recent news events are certainly conducive.

Comex on Monday traded 90,401 lots (with almost no switches); open interest jumped 11,895 lots (37 tonnes) to 359,091 contracts. The all time record was 370,786 on November 22 last year. Since the recent low on August 1, open interest has risen 46.9%, 114,610 lots, or 356.5 tonnes. Gold is up 8.9%. Yesterday’s price move was historically dramatic, but was only 1.5%. The Reuter/Jefferies CRB index was up 3.8%. Clearly, gold is still traveling with malign company.

MarketVane’s Bullish Consensus for gold jumped four points on Monday to 82%. The last time this level was seen was not, as one might expect, at the early December ’04 high, but in the previous October when gold broke through the $420s level that marked the top in ’03. Perhaps the futures traders who supply data to this service are more interested in moves through recent technical levels than those in the distant past.

On that basis this move could last several more weeks and go some 6% further: e.g. approach $500.

JB

Also ich kauf mir zu bestens morgen den Hugo Salsa und tanze spaeter wenn Fortuna mitgeht.

Der Fundmanager der da verkauft und gepanikt hat wird es leid tun, oder mir.

Mal schaun, wieder ein gehaemmerter Stock.

XAX

UPDATE 3-Venezuela eyes Las Cristinas for state mining firm
Tue Sep 20, 2005 05:24 PM ET
(Adds Hecla announcement in para 14)

CARACAS, Venezuela, Sept 20 (Reuters) - Venezuela President Hugo Chavez on Tuesday said the government would construct a planned new state mining company in the Las Cristinas area where Canadian Crystallex International Corp. (KRY.TO: Quote, Profile, Research) is awaiting a permit to build a gold mine.

Chavez did not say Venezuela would revoke the contract to Crystallex or that the gold mine the company was planning to construct would now be developed by the new state company.

"That belongs to Venezuela, and there we are going to create a national mining company there," Chavez said in a speech.

Chavez has launched a broad campaign to review energy and mineral contracts signed before he came to office that he says are robbing Venezuela of its natural resources.

The government has said it will revoke some inactive gold and diamond mining concessions and would not issue new ones.

But Crystallex company officials assured Las Cristinas would not be affected by the government's move to tighten control over the mining sector.

"The minister of planning earlier today said they are not going after projects that are being advanced by international mining companies. They are going after the dormant ones," Crystallex spokesman Richard Marshall said.

Crystallex shares sank 48 percent on the Toronto Stock Exchange on Tuesday, before being halted at C$1.65, down C$1.51 on the day.

The Las Cristinas project is one of the world's largest undeveloped gold projects and Crystallex's flagship venture. It is estimated to contain 12.5 million ounces of gold reserves, and is expected to produce about 300,000 ounces of gold a year in its early years.

The project has been delayed for years because of legal disputes and permitting hold-ups.

Crystallex officials said they were not aware of any changes to the status of their project and added the idea for a state mining company had been around for years.

"It is not to be competitive with these big assets. It's a way to create employment opportunities for small scale miners in an environmentally friendly way," Marshall said, adding the state company would be located in the same region as Las Cristinas.

Officials have said the new Venezuelan mining company would be similar to PDVSA, the state energy company of the world's No. 5 oil exporter.

Seperately, Hecla Mining Co. (HL.N: Quote, Profile, Research) said on Tuesday it had terminated an agreement to acquire Triumph Gold Corp.'s interest in mineral concessions in the Guariche Mining District in Venezuela after failing "to reach a consensus on certain conditions of closing."

Hecla is the largest gold miner in Venezuela.

Salsa in Venezuela, bei den Kurs faengt man echt zum tanzen an.

http://www.musikcity.mus.br/english.html

The Media, the CIA and the Coup (15.04.2002 Artikel)

By Christopher Reilly

In a rare sequence of events, democratically elected leader President Hugo Chavez was overthrown in a military coup led by the business elite, only to be reinstated as president days later due to the support of the Venezuelan people.

The democratic leader, winning office in 1998 with 60 percent of the national vote, was disliked by the business class due to his socialist stance on many political issues, such as redistribution of land.

Then on April 12th, business leaders angered at Chavez's handling of the oil industry, organized a large strike. The strike turned into an open street protest marching toward the presidential palace. The local media, operated by the business elite, apparently continued to lambaste the president on television, causing Chavez to temporarily halt all private broadcasting in Venezuela in fears of it causing panic and violent revolt.

The protestors continued to the outside of the palace where they confronted pro-Chavez supporters. Both sides began to clash, resulting in 16 deaths and hundreds of injuries. The media quickly reported that Chavez supporters fired into the crowds of demonstrators. The Western media was quick to follow; one newspaper after another publishing only the version of events reported by the same business community that was attempting to overthrow the Venezuelan democracy.

The version of events made official by Ari Fleischer, spokesman for the Bush Administration, claimed that Chavez shut down the media to stifle opposition and then ordered those loyal to him to fire into the crowd of protestors. Or, in Fleischer's exact words, "Chavez supporters, on orders, fired on unarmed, peaceful demonstrators. Venezuelan military and police refused to fire ... and refused to support the government's role in human rights violations."

The State Department was next to come out in support of the violent military coup, expressing their regret that Chavez did not "act with restraint and show full respect for the peaceful expression of political opinion."

However, the State Department failed to mention the number of dead Venezuelans was also made up of Chavez supporters. According to one South American newspaper, sympathizers of the president were killed, along with the Vice President Diosdado Cabello's personal driver, shot in the face.

Not only that, but it has not even been confirmed that Chavez ordered his forces to shoot into the crowd of people. The military men that reported this fact were the same military figures who supported the coup. They could have easily fabricated the story in order to give justification for junta. For example, news broadcasts stated, as printed in London's The Independent, that "half a dozen men - one wearing a Chavez party T-shirt - firing automatic pistols into a crowd from an overpass, while police launched tear gas canisters into the crowd. Shortly after, 10 officers from the National Guard and armed forces accused Mr. Chavez of 'betraying the trust of the people.' "

This statement was simply taken as fact in media circles, largely ignoring how convenient it was for news cameras to pin the blame on Chavez while those firing on demonstrators wore "Chavez party T-shirt[s]," proving to viewers that Chavez was responsible for the deaths.

Either way, the campaign worked temporarily.

Military figures removed Chavez from the palace, telling the corporate media in both Venezuela and the world that Chavez had resigned. Without investigating the statement, newspapers across the world began to announce that Chavez resigned after the will of his people turned against him, often citing that Chavez's approval rating fell to 30 percent before the coup, never explaining where that number came from. Now after Chavez has been reinstated as president, the figure seems to have disappeared from news reports.

The Bush Administration continued to show their support for the coup, with the State Department announcing, "We wish to express our solidarity the Venezuelan people and look forward to working with all democratic forces in Venezuela to ensure the full exercise of democratic rights."

Yet if the Bush Administration truly cared about "democratic forces in Venezuela," they would have sharply condemned the coup as many neighboring South American countries did. After all, the business leader who took power after the coup, Pedro Carmona, became a dictator and completely dissolved the constitution, National Assembly, Supreme Court and other institutions on a vague promise that elections would be held again in December.

Despite all these forces working against Chavez, protestors hit the streets again, but this time to demand Chavez be brought back to power. They succeeded and the military brought Chavez in on a helicopter, saving democracy from the dangerous forces of a greedy business elite.

Why was the Bush Administration so quick to voice tentative approval with the military coup? Judging by history, the CIA may have been involved once again in another South American coup. After all, it was the CIA that mounted a coup in Guatemala that overthrew the democratically elected government in 1954, supporting subsequent right-wing regimes, resulting in some 200,000 dead civilians, according to the a recent column in the New York Times. That same column, written by Tim Weiner, cites the CIA's involvement in the Panama coup in 1989, along with the CIA support for opposition to Nicaragua's leftists in the 1980s, ending in a disaster called the Iran-Contra Affair.

And the CIA was also involved in overthrowing democratically elected leader Salvador Allende in Chile, only to replace him with a ruthless right-wing dictator - General August Pinochet, whose abysmal human rights record is well-known.

Therefore, it would not be a surprise should the CIA be involved in yet another overthrow of democracy, showing the hypocrisy of American government administrations who use the words "freedom" and "democracy" as a justification to take military actions on some countries, but then frequently destroy "freedom" and "democracy" in other countries.

William Blum, author of "Killing Hope," summed this up in a recent column. Blum believes that the CIA was involved in this overthrow. He states his reasoning in the following few sentences: "Same way we know that the sun will rise tomorrow morning. That's what it's [the CIA] always done and there's no reason to think that tomorrow morning will be any different."

Blum cites a Washington Post report from Venezuela on April 13 that states: "Members of the country's diverse opposition had been visiting the U.S. Embassy here in recent weeks, hoping to enlist U.S. help in toppling Chavez. The visitors included active and retired members of the military, media leaders and opposition politicians."

Judging by reasons of previous CIA orchestrated coups in South America, Chavez may have broken nearly every rule the CIA demands South American leaders follow unless they want to seek the wrath of their northern neighbor. These rules, all broken by Chavez, include supplying oil to Cuba at discount rates; meeting with Cuban dictator Fidel Castro, along with Saddam Hussein; not allowing the U.S. to use Venezuelan airspace for its "War on Drugs"; accusing the Bush Administration of "fighting terrorism with terrorism" by its assault on Afghanistan, saying that deaths due to U.S. bombardment had "no justification, just as the attacks in New York did not, either."

All of these reasons would have been enough for the CIA to approve of Chavez's removal, despite the fact that he was democratically elected. To add to it all, as Forbes magazine writes, "Venezuela is the only OPEC member in the western hemisphere, exporting nearly 1.3 million barrels per day of crude oil and 250,000 barrels per day of refined products to the U.S., accounting for 13% of imports to the world's largest oil consumer."

The desire to have a puppet in Venezuela must have been high in the CIA and the Bush Administration. Unfortunately the world will have to wait many years until the truth finally comes out in declassified internal U.S. government documents.

Christopher Reilly is a columnist for YellowTimes. He encourages your comments: creilly@YellowTimes.org

@ Lancelot

Klar sind sie fertig wenn Chaves sich das Gebiet kostenlos schnappt, wir werden es sehen wie verrueckt er wird.

Die Nachbarlaender koennen auch das Fidel Fieber bekommen oder Hugo den Kopf reparieren sonst trifft es die ganze Region.

Wer soll das Projekt fuehren, einen Chinesische Firma oder seine Gaujos die keine Ahnung sowie Geraete und Erfahrung haben.

Dann faellt auch Hecla und das moechte ich sehen was der Ami dazu sagt und dagegen macht, die lassen keinen Diktator zu unter ihren Hintern.

Ist es ein Bluff oder macht er Ernst ?

Fuer mich bellt der nur und macht sich wichtig.

WOOF WOOF !

http://www.musikcity.mus.br/english.html

Gnight

XAX

"Las Cristinas belongs to Venezuela. We will build a "national" mining company there," he said. ...er meint fuer die Nation !!!
In seinen Suff.

It wasn't immediately clear how the president's position would affect the plans of Crystallex.

Crystallex shares dived 48 percent on the Toronto bourse after Chavez's announcement, falling C$1.51 ($1.29, euro1.06) to C$1.65 ($1.41, euro1.16) before trading was suspended ahead of an expected company announcement.

Chavez quoted out of context - Crystallex

Tue Sep 20, 2005 04:24 PM ET

VANCOUVER, British Columbia, Sept 20 (Reuters) - A report quoting Venezuelan President Hugo Chavez as saying his government plans to nationalize the Las Cristinas gold project took the leader's comments out of context, project owner Crystallex International Corp. (KRY.TO: Quote, Profile, Research) said on Tuesday.
"We think (Chavez's comments) were taken completely out of context. We are not aware of any changes whatsoever," Crystallex spokesman Richard Marshall said.

Dow Jones, quoting a televised address by Chavez, reported that Venezuela's government is reclaiming national mining assets such as Crystallex's Las Cristinas gold project.

"As it happens in Las Cristinas ... It's mine, it's over. That belongs to Venezuela, and there we are going to create a national mining company there, ourselves," Chavez said in a speech.

Bin gespannt was er morgen sagt dazu wenn er seinen Rausch ausgeschlafen hat.

Und was sagt Hecla ???

Hecla Terminates Guariche Transaction
Tuesday September 20, 5:00 pm ET

COEUR D'ALENE, Idaho--(BUSINESS WIRE)--Sept. 20, 2005--Hecla Mining Company (NYSE:HL - News) today announced that it has terminated an agreement to acquire Triumph Gold Corporation's interest in mineral concessions in the Guariche Mining District in Venezuela. Hecla decided to terminate the transaction because the companies failed to reach a consensus on certain conditions of closing.
Hecla President and Chief Executive Officer Phillips S. Baker, Jr., said, "We have a large number of excellent exploration targets and properties in Venezuela on which we are currently working. Our priorities lie with these prospective properties surrounding our La Camorra and Mina Isidora gold mines." Baker continued, "We've had very good results on several targets with our exploration drilling on our Block B property in Venezuela, and we continue to be enthusiastic about our presence and future growth in Venezuela."
Hecla Mining Company, headquartered in Coeur d'Alene, Idaho, mines and processes silver and gold in the United States, Venezuela and Mexico. A 114-year-old company, Hecla has long been well known in the mining world and financial markets as a quality silver and gold producer. Hecla's common and preferred shares are traded on the New York Stock Exchange under the symbols HL and HL-PrB.

Sofort morgen bei der Eroeffnung nutze ich den Hugo Wahn auf gut Glueck und kauf zu bestens die selbe Anzahl die ich schon habe.
Entweder Hugo war blau oder der Reporter, wir werden es sehen.
Vielleicht bieten die KRY in D an fuer den Fluchtpreis von 1.40 USD.

Risiko ist dabei, vielleicht stimmts und der beschlagnahmt die Minen ?(.
Wenn er weiter so spinnt dann kommt der CIA und raeumt ihn weg, schaetze ich mal. Ein Fidel reicht denen.
Die Armen lieben ihn, er ist ihr nationaler Held der mit dem Volk teilen moechte.
Hecla hat auch eine -8% Watsche bekommen.

Mal schaun, so kanns gehen mit GM's.

Muss der Vollmond sein, da spielen viele verrueckt.

Gnight

XAX

Sein Vorbild schaut zu...

Es dauert alles seine Zeit....

Der neue Mugabe (Fidel) von Suedamerika

In den letzten 45 minuten haben sie kraeftig auf den HUI und Gold gehaut, die Zinserhoehung faengt an zu wirken.
Habe es mir schon heute frueh gedacht.

Gnight

XAX

Wem soll man da nun glauben, Chaves oder den CEO von KRY.
Bei 1.60 USD bin ich sofort dabei, meine Order ist in der Pipeline.
Aber heute geht nichts mehr, die haben sie echt stuerzen lassen und mit absicht verpennt.

Don't cry for me Venezuela.

A so a Schaas !

Gnight, Tschonko

XAX

Shi...... KRY Alarm, die fiel um 48% mit 3.7m Aktien auf 1.40.
War schon auf 1.30 USD nun ....TRADING HALT IM MOMENT

Wer hat da abgeladen und warum ???

Sehr bedenklich

XAX

OOOPS, trading halt bei KRY, die fiel mit 3.6m Aktien gleich um -46%.

Was ist da los ?????

Kurs 1.40 USD ...

Jetzt ist sie am Tiefpunkt !

Zum Glueck wissen alle was 7 Sterne bedeuten,..... CDU. V

Gestern habe ich noch darueber geredet, die machen nun einige PP's fuer 5m USD und suchen Kohle fuer das Wolverin Project.

Koennte was werden, muesst selber anschaun und entscheiden.

Da hoere ich gerade im Hintergrund auf CNBC einen Trottel der sagt Gold ist kein Inflations Investment oder Anlage, aber Holz ist gut, alles fuer den Bau.

Yukon Zinc Hits Massive Sulphide Zone in Underground Test Mining

Vancouver, BC, September 20, 2005 – Yukon Zinc Corporation (YZC.TSX-V) is pleased to announce that it has intersected massive sulphide rock within the Lynx Zone of the Wolverine Deposit in the underground development. The intersection was made late yesterday afternoon, September 19, 2005, during excavation of a decline ramp down to the deposit, as part of the company’s test mining program in support of the current feasibility study for the deposit, which is scheduled to be completed early in 2006. The intersection occurred approximately 225 metres underground. The development will now follow the massive sulphide mineralization and test ground conditions in and around the massive sulphides to define mining conditions.

“When I started to clean off the bottom edge of the face of the decline to drill our next blast pattern, the rock was a lot harder and heavier than the rock I’d been taking out before,” said Brian Randall, Assistant Superintendent with Procon Mining and Tunneling, contractors for the decline excavation.

“We are very excited to see this first sulphide rock from the deposit come to the surface through the portal entrance,” stated Dr. Harlan Meade, President and CEO of Yukon Zinc. “This comes 10 years plus a week from the discovery date of the deposit, and it has taken a lot of hard work during that period to make this happen. Having been part of the discovery team, and having been involved every step of the way makes this all the more gratifying.”

Plans are to cut and polish the landmark sample for display at the company’s head office in Vancouver. A photograph of the sample has been posted to the Gallery section of the Company’s web site (http://www.yukonzinc.com/gallery). Excavation of the decline will continue into the Lynx Zone as the test mining program progresses over the coming months.

@ Valueman

Die einzigen die ich hier nehmen wuerde waere Impala falls ich Platinum brauche. Zwei Tage hat es gedauert das ich meine Stueckzahl von Scorpio diese noch "zu bestens" hatte. Nun habe ich sie alle, what a job das wieder war.
Fast keine Vekaeufer, und wenn welche waren dann schnappte ich fast alle zu Schnitt fuer ca. 61cents. Da laufen wenig rum, schaut mal ob ihr in D was bekommt, der sieht zertruemmert aus fuer mich. (Fuer den der einen will).
Wenn ich die wieder alle rauslassen sollte, dann ruehrt sich was.

Die Feds haben die Rates erhoeht wenn ich mich nicht irre, habs gespuert. Da war ein "Gold Analyst" von JPM der stand ein das Gold bis 600 Dollar in 2006 gehen kann wenn der Dollar nicht hochkommt.
Denen geht der A auf Grundeis so wie er ausgeschaut hat.
Recht geschied denen !

Ich warte noch mit Sterling bis Ruhe reinkommt,.... neh doch nicht, ich greife jetzt zu, hole mir ein paar .

Ciao, viel Glueck Amigos !

XAX

Keine Sorge ?.....

http://www.321gold.com/editorials/roffey/roffey092005.html

Hier ein Interview mit der Katze "Straccato.", die erzaehlt Euch warum Nevada so wichtig ist.

http://www.staccatogold.com/i/media/2005-09-07_AK.wma

Gleich einen Teil der Rands ausgegeben, ein PC Tag.

Kissen gekauft von PXI.V CMA.V CDU.V

Wer kennt sich mit Cream aus ?

Ja, und ein Neukauf von Cambior.

Ab in die Wirtschaft,

Gnight Zocker.

XAX