Saturday, April 30, 2011


bill murphy + james turk + peter boehringer = great presentation in munich yesterday :-)

bill murphy ( speaking + peter boehringer (DEG) sitting

james turk (

folks, gold is abt libertarianism, freedom, free markets, austrian economy, honest money, peace, minimization or even elimination of fraudulent systems like paper money / bailouts / quantitative easings / corrupt governments / states + their small dirty central banks and the like, u know? well, the evening was abt all of that and of course abt meeting other paranoid fellow gold/silver bugs, few other well known gold scene folks like dietmar siebholz + dimitri speck, few old buddies and some new folks as well ...

what did i liked most? well, it was again james turks speach ... even if i already know the content of his slides backwards, i simply like the clear and easy to understand messages of that really gifted public speaker ;o)

on the other side, there was too much upset and too much time spent on the 'evil' manipulation (to the DOWNSIDE) of the gold and silver markets by the bad, bad, bad bullion banks, FED, FEDs buddies like jp morgan chase, abt the recent CFTC hearings, etc ... i cant hear that stuff any longer, do u believe me? gold is a political metal so of course there is some manipulation out there, but e.g. the currency + bond markets are manipulated much much more esp. by the corrupt central banks via the official 'interventions' which means buying/selling huuuge amounts  of the given currency (= direct manipulation) or by willfully setting the interest rate for a given currency (= indirect manipulation), so what? if the demand for physical gold + silver would be stronger the price of gold + silver would be higher! it is really as simple as that, u see? well, the futures markets generate 'paper' demand for the underlying commodity (gold, silver, wheat, etc) which is not met in the physical market and thus are imho the future markets itself the manipulators of  the 'paper commodity' prices to the UPSIDE, of course!

guys, anyway, lets go buy some cheap 'manipulated gold+silver and say thx 2 evil manipulators like JPM & Co for providing this huuuuge buying opportunity, will u?

btw, im involved in the silver market with many ups and downs since 2005. the price was $7 per ounce back then .... the price 2day? $48 per ounce, which is +600% in 6 years!!! of course u can bother your calculator if u wanna some more precise numbers, im both too lazy and too stupid to get it correctly, anyway. what the hell is the price of gold? $1,563 per ounce = all-time-high, reached in the late trading hours on a friday, the day before weekend!!! (again 3 exclamation marks in order 2 show ya the importance of this 'event') ... what abt the production costs ('cash costs') per ounce of silver? the most silver producers out of mine stock portfolio produce between -6 (silvercorp metals) and +13.5 (u.s. silver in 2010) dollars per ounce, my average mexican producers get the silver for $7 per ounce out of the ground, i think. pls dont think the 'minus' 6 was a mistake, it wasnt. the silvercorp guys sell their zinc, lead, copper and other stuff, earn 6 bucks and on top have all silver 4 free ... what abt the silver price manipulation to the upside? lol

what was the most valuable insight 4 me? well, i really enjoyed speaking in-depth to a fellow junior mining companies investor i know for years .... and i think now i know why are our favorites and the whole portfolios struggling like hell despite the record high gold / silver / copper prices and why both of us fear the 2008 crash could happen again :-(  ... the reason is so simple and so sad at once ... btw, the most real reasons are really simple ... well, here we go: my buddy has no additional money to invest and neither have i :-((( ... got it? the 'old' investors have no money left and there are for sure no new investors out there! logical, isnt it? no wonder that on a normal or even on a strong trading day stay the share prices of the junior miners flat and on a weak day they are cheap like an unwanted pet. OMG!!!!! (5 exclamation marks, no comments)

pls dont bother me with questions abt the weak performance of industry leaders like barrick, newmont, gold fields, kinross, goldcorp, yamana ...  i think, all of them are below their 2008 highs. folks, the gold price was $700-$800 then, i believe. shame on them!!! imho they will not advance too much until they change their shareholder-damaging financing via convertible bonds (all institutional investors sell the stock if the convertible is some 5-15% above their purchasing level) and/or start paying ATTRACTIVE dividends for us owners ... btw, im going 2 sell few of them in the next market upswing and thus vote 'no' with my money to teach them a lesson, u know?


.... finally, pictures uploaded: gata @ picasa

ps: sorry 4 that much senseless gossip up there! of course u shouldnt get 10,000 bad dreams abt gold / silver / money / state defaults / monetary reforms / riots in the street and the like! just live  ... and let live ... and pls do some good 2 humans and nature => an excelent 30 seconds eckhart tolle video included, a great message, enjoy ;-):

(addendum june 2011 ~ link 2 bill murphys presentation 4 hard core gold/silver bugs, 22 minutes, but im not going 2 hear it. why not? first cos ive been there and thus heard it already, 2nd because im not sure abt the good quality of recording ... well, bill spoke sometimes too quiet ... here we go: bill murphy in munich )


jaro gruber said...

folks, it was a mistake 2 write this blog post ;-(( ... mr, market has read it and here we go:

silver intraday -11%, currently at -8.4%, most of my mining stocks between -4% and -10% and my portfolio? hmmmm, many thousands €uros down :-((

jaro gruber said...

just got the goldcorp quarterly results via newsletter:


May 4, 2011 – GOLDCORP INC. (TSX: G, NYSE: GG) today reported operating cash flows of $586 million for the first quarter of 2011 based on gold production of 637,600 ounces at a total cash cost1 of $188 per ounce.


* Adjusted net earnings increased 150% over the 2010 first quarter, to $397 million or $0.50 per share.

* Average realized gold price increased 26% over the 2010 first quarter, to $1,394 per ounce.

* Cash costs totaled $188 per ounce on a by-product basis and $504 per ounce on a co-product basis. ~~ OMG! just $188 per ounce, prolly industry leading record!!!

* Dividends paid amounted to $75 million. ~~ thats the problem my dear! give the profits us shareholders and the stock price will skyrocket :-)

* Quarter end cash balance of $1.3 billion; net cash position of $575 million.

* etc.

=> damned hell, why is all that selling panic in the gold/silver stocks out there? it doesnt looks like goldcorp is going to go bankrupt at current gold price of $1,500+ per ounce, i think .... just remember the cash costs of $188 and bother your computer/calculator in order 2 get goldcorp's margin ... well, the share price is 10% down in the last week and only close to its 2008 high .... btw, the gold price has doubled since 2008 ... why does that damned management not let us owners participate on the companys success at least via ATTRACTIVE dividends? what abt $350m instead of $75m?

well, now u see why rob mcewen left his former company ... they are completely shareholder unfriendly, my dear!