Agoracom Blog
Grandich on BNN
Posted by
at 4:41 PM on Thursday, November 5th, 2009
Peter, can you comment on the constant increase of shorts within the comex open interest numbers amongst, as Ed Steer says, “the boyz” and how you see this panning out? Either they get run over or they turn this thing around and hammer the gold and silver markets in a meaningful way?
another very interesting comment on Nadler from Murphy letter. This makes a lot of sense.
The Nadler/Kitco Con
Hi Bill –
Not to beat a dead horse but all this talk about Jon Nadler is a waste of breath. As I discussed before, Nadler invented the gold derivative product called “Pooled Accounts” and is constantly talking down gold because the brilliant business idea he implemented at the Perth Mint, Kitco and the Royal Mint of Canada is blowing up! He has to talk down gold or his paper gold ponzi scheme will blow up.
Have you ever noticed the gold pricing structure at Kitco Products?
https://online.kitco.com/bullion/completelist.html
Kitco charges one of the highest premiums in the gold business for bullion coins that they sell. About 10% above spot for gold eagles!
Similar high mark ups are charged for all bullion products compared to operations like Tulving. It would be ridiculous to buy physical bullion from Kitco.
BUT LOOK AT THE POOLED ACCOUNT PRICING!
With gold at $1090 Kitco is offering “Pooled Account Gold” at $2.40 over spot or a premium of .0023%!
How in the world can Kitco EVER make money on a “Pooled Account” program if they charge .0023% to store physical gold??!!
Not to mention the cost to run the operation just the Insurance and storage alone would blow that charge out of the water!
The TRUTH is that Kitco, the Perth Mint and Royal Bank are all running paper gold ponzi schemes that are blowing up with the rise in the price of gold.
Jon Nadler is not stupid…he is trying to preserve the paper gold derivative product he invented.
The Perth Mint and Royal Bank claim that the unallocated pooled accounts are “working inventory” but Kitco doesn’t have a Mint as far as I know. Where is their “working inventory” backing up their pooled accounts”?
Multiple claims to physical gold in a rapidly rising price environment spells trouble for Jon Nadler and the businesses he sold his “Pooled Account” concept to.
He will continue to talk his book and slander gold until his scam is shut down.
Bix
any one else finding that these videos just wont load?
on another note HRA journal came out today. They seam to share peters optimism on EVG, EAS and NSU.
They highlighted that they recommend accumulating EVG at these levels and that financing rumors have beaten the stock down in recent months but they believe that good drill results will be rewarded going forward as that is behind us. They also said that over 40 drill holes for rattlesnake are still outstanding.
They have a spec buy recommendation on EAS at these levels which they have had for a few months now and it seams they are optimistic as they are adding a second drill rig to pump out news faster and the area which they are intending to drill into next has shown high grades in earlier drilling.
As far as NSU goes, they believe it will trade inline with gold prices even though it just added $32.7 million to its treasury.
Hope any of this is useful and im still trying to figure out the BNN link.
Ryan, same here. BNN videos don’t load
its on BNN again in 25mins though i think so ill catch it there. channel 58 for me.
Sorry for the inconvenience. I am trying to get it linked directly through the blog to save the download problem. Thanks for your patience.
Haha, the gold bears are trying to keep Peter off the airways – they sabotaged the BNN clip in their conspiracy, haha. We need GATA – Grandich anti-television action to find out why they try to keep him off the airwaves.
Anyway, my charts are looking ominous for Peter’s minimelt up to from Friday’s figures, gold follows to $1145 and US$ down to 73.5. Markets appear to have enough momentum to over shoot in the current directions and then nicely correct but I’ve been wrong before.
Also looking at the charts there is just enough time for a bad reversal of all this if Friday’s figures aren’t good. So personally I’m a bit both ways like Peter is, it just seems so obvious for continuation of the trend for a final bow. Fingers crossed, hope MACD doesn’t get crossed for 2 weeks.
top picks still dont load just so u know. the market call is really good though. lots of good info in that.
BNN top picks will not load even on BNN web site
“Blunt” is probably the best word to describe his sober assessment that the USA will probably “not make it out of the depression”. Banana Republic, here we come!
Go to http://www.robtv.ca This will get you on BNN. Then click on Market Call to get peter
Who says the U.S. public isn’t participating in the Gold market?
http://uk.cash4gold.com/?partnerid=FRDUK&psubid=335&asubid=4567
dennis,
yeah even through that the top picks wont load(market call will). i can tell kmk is one of them by the cover but any one else know what the rest are?
Ryan, Two other top picks were EVG & NSU.
thx dennis! the blog is definitely ahead of the game there eh.
JOJO
The first video works – great interview! The second video still will not load no matter how I go about it. Thanks
2nd videwo wont load?
Looking forward to seeing Peter on 2nd video once Jo Jo gets it all worked out!
Below is a link today from Bloomberg where Juckes from ECU Group comments on G20 meeting. Nothing much new – sees dollar in trend down. Believes there are limits to how strong foreign currencies can get as their governments will control them. Mentions Australian dollar for example. (Note that you can trade the Australian dollar which recently once again raised interest rates under ETF, FXA and it currently pays a monthly distribution of 2.5% which is nice.) Contrary to limits place on foreign currency rise, he feels there is not similar limit on gold which he is bullish on and thinks will go to $1500.
http://www.bloomberg.com/avp/avp.htm?N=av&T=ECU’s%20Juckes%20Says%20Dollar%20to%20Fall%20for%20Years%2C%20Gold%20to%20Rise&clipSRC=mms://media2.bloomberg.com/cache/vdz6ADpumQ9o.asf
Except from Richard Gray on NSU….link follows:
RG: The other one is Nevsun (NSU). I’ll be the first to admit it doesn’t really fit with the low political risk criteria, but it’s a name I’ve covered for quite a while. The reason I covered it initially was the world-class discovery —the Bisha Project—they made about six years ago in Eritrea in Africa. They are now building the mine, which has gold, silver, copper, and zinc. The first couple of years of production are gold and there’s three years of primarily copper production and then five years of zinc production. It’s not a pure play gold company, but it’s going to be gold to start. Quite frankly, it’s one of the simplest and most attractive ore deposits in the world.
The risk with Nevsun and the reason the price is probably half of what it should be is Eritrea, which is a very young country with an uncertain risk profile. Over the last five years, Nevsun and the government have established a very good partnership where now the government is essentially a 40% partner in the mine. They have a vested interest to make the mine survive and be a successful operation because they’re going to make money off it, too.
It’s an extremely robust project and I think the country risk is overdone right now. They are building this mine, they have a $235 million project loan from several European and South African banks, and it’s a great time to be buying Nevsun because you can buy it now for something that’ll be a lot higher a year from now when they start producing.
http://seekingalpha.com/article/170413-richard-gray-on-the-two-real-drivers-behind-gold-price
Susan,
if you are interested in the Australian dollar, the market traders are saying 60% chance of another 25 basis points in December to be 3.75%, and they they expect mid 2010 the cash rate to reach 4.50% and then 5.25% by December 2010.
According to the China Daily, China is still buying U.S. treasuries.In Oct. 69 Bil.
since bnn is not loading
visit the following site to read what Peter said about
KMK, NSU and EVG on Nov 5/09
Opinions from Peter Grandich
http://www.stockchase.com/Expert-sl–slq-ID-slv-Peter–Grandich.php
China Gold – see the excerpt from the Reuters article talking about it would be better for China to develop its own gold reserves versus buying gold elsewhere (e.g., IMF). Bodes well for KMK me things!
By Zhou Xin and Tom Miles
“BEIJING (Reuters)11/6/09 – It would be cheaper for China to buy domestically mined gold than purchase bullion the International Monetary Fund is seeking to sell, a former adviser to the People’s Bank of China said on Thursday.
Asked whether China should emulate India, which last month bought 200 tonnes of IMF gold at an average price of $1,045 an ounce, Li Yang told reporters on the sidelines of a financial forum: “China’s gold is much cheaper than that.”
Li, who used to be a member of the PBOC’s monetary policy committee, is now a senior researcher at the Chinese Academy of Social Sciences.
China, the world’s top producer and consumer of gold, is widely assumed to still be buying up domestic gold production after revealing in April that it held 1,054 tonnes of gold, a jump of 76 percent from its last word on the subject six years previously.
And its colossal buying power — $2.27 trillion in foreign exchange reserves at the end of September — makes matching India’s $6.7 billion IMF purchase look trifling.”
BNN has worked out the glitch and the TOP PICKS video clip is now working. Thanks to everyone for your patience.