Member Info for BuggerTheBanks

BBBear, excellent analysis, & I agree with you, but if you'll put your tin foil hat on for a moment, let me propose an alternative outcome.

In the face of (the coming) rampant inflation, Central Banks could justify RAISING interest rates in an effort to defend fiat currencies. It seems (to me) that the Elite have cunningly engineered a scenario that, whatever the outcome, gives them what they want:-

1) Destroy fiat currencies through inflation & institute the One World (Mark of the Beast) Currency, or
2) Bankrupt entire nations by raising interest rates & usher-in global (read "unelected") government.

Remember: Central Bankers are un-elected, unaccountable (they call it "independence") & UNAUDITED! Anyone who thinks that a Central Bank acts in the best interests of the people needs to ask one simple question: why does a Central Bank have an "inflation target"? If you know how a debt-based fiat monetary systems work (& you know what a ponzi scheme is) then you already know the answer ;)

I don't see a third outcome. Agenda 21 & Operation Lockstep are already in full swing. Agenda 2030 awaits.... Whatever the outcome, before the end of the decade, the world will change like never before (& yes: I am familiar with the events of the 1930s & 1940s, & many parallels can be drawn today).

OK (takes off tin foil hat, but keeps it handy, just in case). I'm with Voltaire on this one. PMs (& their miners) are the place to be. Add other commodities / hard assets to that if you want.

GLA

Where the FRES share price goes (of course) depends heavily upon the price of PMs, & the price of PMs in turn depend upon the state of the economy (particular REAL interest rates) & the likelihood of further currency debasement.

As a buyer at £6.60 last October (& pre-CV crisis) I had a target of £20 for FRES. Everyone here will have their own opinion on the state of the global economy (& I'd like to hear arguments from both sides of the fence), but I honestly believe that fiat currencies can now ONLY be sustained by exponential money printing. Given that, & the Fed's commitment to let inflation rip, I see gold at $2,500 next year AS A MINIMUM. I've therefore revised my price target for FRES from £20 to £30. Admittedly, this is kind of a finger-in-the-air target, rather than any detailed analysis of reserves x gold price, etc, & I'm sure there are others here with more knowledge who can give a more "scientific" valuation.

But let's not forget that even a static gold price will see miners rise from here because with each passing month, they pull more & more oz out of the ground at the prevailing price. I always like to cite Chesapeake Gold as a good example of this: reserves of 18M oz AU & 500M oz AG, yet their market cap is <$500M. Yes, they have to get it out of the ground (AISC) over so many years, but you don't have to be a mathematician to work out that, even at $1,900 p/oz AU, it is HUGELY undervalued....& this goes for the sector as a whole.

As I have said before here, I'm still expecting a March-esque correction before the year is out, so i am keeping some powder dry, but I stand ready to double-down & BTFD when it arrives. If it doesn't, & we're already off to the races, well...I'll have to be content with the skin I already have in the game.

Buffet sticking his toe into Barrick is just the start. Until the talking heads on Bloomberg & CNBC etc stop talking about Apple & Tesla & start talking about Newmont & Franco Nevada, this PM bull market has a long way to run.

Nobody outside of these forums is talking about miners. NOBODY! I think that is great news. Only when the shoe-shine boy starts recommending mining stocks do you need to be concerned. This train hasn't even left the station yet.

GLA.

Miners seem to be up across the board, but FRES is the best performer.

Given that US markets (& Canadian, too, I think) are closed today, it will be interesting to see UK mining stocks find their own way today. They've certainly started well.

I'm not reading anything into it. The wider (UK-listed) sector is up. CMCL, PUR, SHG; all up.

Across the pond is another matter entirely.

If it's anything like the previous issues, brokers will be offering them (Halifax are certainly one). Having bought the original offer in 2013, I sold out about a month ago at £1.46 hoping to buy back cheaper. This might be a decent opportunity to get back in, although I suspect they'll be less than 90p when the market next ****s the bed.

Excellent long-term INFLATION-LINKED opportunity here.

In the run-up to the last financial crisis up until the gold price peak (2006 - 2011) gold rose in excess of 300%. Since 2013 until May last year, gold traded in a fairly tight trading range, & was clearly capped at $1,350 p/oz, having bounced off that ceiling a half-dozen times. Let's take a VERY conservative $1,150 as a base line & multiply it by 400% (which is a rise of 300%) & you get $4,600 p/oz gold. Adjust for exchange rates & you can comfortably get £3,400 p/oz gold.

At the same time, the GSR collapsed to around 1:30. Apply that same ratio to your new gold price & you get a VERY conservative silver price around £113 p/oz. I have applied a further 20% upside to this calculation to get to my £135 p/oz value (which I still feel is conservative).

Can I guarantee that will happen? No: of course not, & there are plenty of people far better qualified to comment than I am, who have projections both higher & lower than that, but it's hardly an "out there" projection when we already have precedent for (percentage) moves of this scale. TBH, I'm surprised to see the GSR collapsing so quickly. I thought we'd need the StHTF before we saw a significant contraction in the GSR, so whilst it's great for silver, I feel a little uneasy that I didn't foresee it at this stage of the market.

Whilst surging precious metal prices make for an exciting (& profitable) ride, we should all remember that safe haven assets rise for a reason. We have seen really quite astonishing rises (particularly in silver) over the last couple of months. Something wicked this way comes, & I fear it is bigger & more significant than "just" a second wave of the Elite's bio-weapon.

Whilst £3,400 p/oz gold might make us all very wealthy, we must all ask ourselves just how bad a state must the world be in to justify it, & would we want to live in it (assuming we can survive it)?

GLA

Buy and hold. Silver price going to £135 p/oz.
Central Banks only ever do two things: cut rates & print. What are they going to do going forward??? The debt ponzi needs support & fiat currencies will be offered in sacrifice to the stock market gods.

Dollar crisis coming up in 3.....2.....1.....

It won't last. By design.

The people will not accept the New World Order, so they cannot be given a choice. What we are now witnessing, in real-time, is the controlled demolition of the old world order, so THEY can usher-in the NWO.

Meet the new boss: same as the old boss.

BBBear, got it in one.

As I have said before here, the Cabal will waste no opportunity to attack the prices of PMs, whether it's under the guise of a CV "vaccine" or Powell spewing his usual drivel, & today is no different.

Despite Powell promising higher inflation & deeply negative (real) interest rates (on top of the endless money printing already pledged), in less than an hour THEY had knocked $45 off an oz of gold & over $1.30 off an oz of silver. And there is abso-*******-lutely ZERO economic basis for that what-so-*******-ever.

How do they do it? Sell (paper) metal that they don't have. You try going on eBay & selling a mobile phone you don't have & see what happens to you, yet these criminal ****s can sell BILLIONS of oz of metal that they do not own.

In the first three weeks of August alone, CRIMEX (sorry: "COMEX") silver futures traded 13.5 BILLION oz. ANNUAL GLOBAL mining output is only around 900M oz, & in three weeks the COMEX is selling 15 TIMES ANNUAL GLOBAL PRODUCTION. THIS, ladies & gentlemen, is how the Criminal Cabal suppresses the price of precious metals.

If anyone wants to observe this FRAUD in real-time, you can: like so many things these days, it's hidden in plain sight. Just go to www.CMEGroup.com & bring up the silver futures. Please note that the figures shown are for contracts of 5,000 oz each (& not oz themselves), so multiply the figures shown by 5,000 to get the actual number of oz traded.

Eventually enough people are going to stand for delivery & this price control mechanism (for that is what it is) will get torn limb from limb. Only then will you get TRUE price discovery. It is coming, regardless of what they do now.

I have rope, & a map of the locations of the sturdiest lamp posts. I'm ready. Bring it!

What was driving that?

The price spike in the metals might also have something to do with the U2 spy plane over China, & the CCP response of launching two missiles (into the South China Sea).

I think J-hole will prove to be a bit of a non-event. I expect the usual, self-congratulatory back-slapping from central bankers on how their actions have "saved the global economy". Complete donkeytwaddle! What they have done is enable the greatest wealth transfer in human history, a feat which will only be surpassed by the next wealth transfer coming hot on its heels (which they will not only enable but will massively profit from).

Of course, they must (at least) be seen to be doing the right thing, so I expect some degree of talk about monetary prudence. I don't believe you'll hear any suggestion of QT, but I think they need to make the right kind of noises to support the USD (as others here have already suggested).

The market knows what it needs to do in order to secure additional "stimulus": if it ****s the bed in a manner even remotely reminiscent to what happened in March, central banks world-wide will open the floodgates & governments will rush to borrow even more debt-based fiat promissory notes, simply compounding the problem further.

Remember: central banks NEVER see recessions coming (at least not publicly), probably best demonstrated by Bernanke's "Sub-prime is contained" nonsense (somebody please euthanise that self-serving, elitist ****). Central banks serve their owners ahead of anybody else, & they do so by amplifying the (perfectly normal) economic expansions & contractions into boom/bust cycles & financial crises that enable them to fleece the sheeple, all the while trying to justify their existence by claiming "no-one could've seen it coming". Well, some of us do. We buy gold. And mining stocks. And we see central banks for what they really are.

If BLM & the "Woke Mob" would wake up just that little bit more, they'd see that slavery wasn't abolished: it simply changed form. You think because you don't wear a ball & chain that you're free? Because you can choose (to a certain extent) where you work & where you live? We've simply traded physical slavery for financial slavery. The very existence of central banks forces (supposedly) democratic governments TO BORROW THEIR OWN CURRENCY AT INTEREST FROM PRIVATE BANKS THAT CREATE IT OUT OF THIN AIR. And nobody sees a real democratic issue with this? Who decided that banks get to create money? If they want to lend money, let the ******* earn it first like the rest of society & have to appreciate some degree of opportunity cost.

Thomas Jefferson had it right: "If the American people ever allow private banks to issue & control our nation's currency, first by inflation, then by deflation, the banks & corporations that grow up around them will deprive the people of all property until our children wake up homeless on the continent our fathers conquered. The issuing power (to create money) should be removed from the banks & returned to the people to whom it rightly belongs". THAT is a monumental quote. Let it sink in.

End central banks!

Fiat currencies always go lower: that's what inflation is. Yes, they may rise and fall against one another, but against hard assets they inexorably trend lower.

Ironically, the GBP is the world's most successful fiat currency, yet it has still lost over 99.5% of it's value: hardly a ringing endorsement of paper money.

The Pound Sterling derives its name from the 1lb (or 16oz) of Sterling silver that originally marked its value. With silver currently around £20.50 p/oz, an "original" £ would be worth £328 today. This is the extent to which inflation (debasement) has eroded the value of the currency.

Any period of currency appreciation (deflation) must be quickly reversed or the pyramid scheme collapses. THIS is why central banks fear deflation: it is a systemic threat to a debt-based ponzi system.

The public have been conditioned to think that inflation is good: good for whom, though? The Bank of England has a 2% inflation target, so we assume inflation is good. When inflation figures come in under target, we are told that the inflation numbers are "disappointing". Really? When was the last time you went to the supermarket & were disappointed that your weekly shop cost you less than you were expecting (no question mark: it's a rhetorical question).

The BoE has a "stable prices" mandate. Maybe having the power to create currency out of thin air has gone to the heads of the central bankers somewhat, but where I come from, something is stable if it doesn't move: goes neither up nor down. The 2% inflation & "stable prices" mandates are mutually exclusive: BY DEFINITION, you cannot have stable prices if you have inflation. Try asking any of these self-professed "experts" to explain that & watch their heads explode.

Whilst PM (& miner) prices will fluctuate (& I'm still waiting for another March-esque correction which I'm certain will arrive before the end of the year), they can realistically only rise. The debt-based fiat ponzi scheme that is the global financial system has now reached the stage whereby the only thing that can sustain it even a little longer is debt-creation going parabolic.....& that is exactly what we have now.

The Fed's attempt at QT gave us a VERY clear indication of just what happens when global money (read "debt") supply contracts. YOU CANNOT TAPER A PONZI SCHEME! They simply require ever greater increases in subscribers (in this case, borrowers) until the growth chart looks parabolic (like now).....just before they collapse.

If the central banks stop printing you will IMMEDIATELY see a global depression that will make the 1930s look like a teddy bear's picnic. In reality, we will have a depression anyway, but some people won't "see" it because it will be hidden behind stock markets (& precious metals) at record highs. The money has to go somewhere. This is the melt-up. What has been the top-performing stock market over each of the last five years? Venezuela. This is Venezuela on a global scale.

Gold & silver aren't just money. They're not just insurance. Nor are they simply assets without counterparty risk: they are the fire exit from the towering inferno that is the global fiat monetary system. Invest accordingly.

GLA.

Looks like this is day two of the smackdown.
I'll wait and see how the day progresses, but I'm tempted to buy (physical) at the close. If today does not represent the bottom then tomorrow certainly will. That will see the Comex contract expiry out of the way & the monkeyhammer attacks on PMs over (at least for the immediate future....or until a western pharma giant announces a "vaccine").

Powell speaks later today & Friday is a big day for Comex contract expiry.

The bullion banks are massively short &, at current PM prices, are about to get ****-raped, without lube. I have no sympathy for these *******: they're bullion banks...WTF would they be short PMs (rhetorical question).

In short, they need a price smackdown on PMs over the next 48 hours. My guess is that regardless of what Powell says today, his speech will be used as cover to batter PMs. I then expect another smackdown before close of play Friday.

I'd love to be wrong, but I've read Bankster Playbook 101: this is their MO.

Let's see...

I'd buy that.
Or to be more precise, I'd SELL at that ($150 p/oz) ;)

Presumably we just grind back towards $30 p/oz before JP Morgan dumps another TWO YEARS of global mine output onto the paper Comex market in a single day & we get *****-slapped back down again.

...& bins banks. Quite a significant move for someone who's always despised the "barbarous relic".

Surely others will follow.

...& bins banks. Quite a significant move for someone who's always despised the "barbarous relic".

Surely others will follow.