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Updated: 5 hours 51 min ago

Analyze THIS, technically -- Part Umpteen

Tue, 07/05/2016 - 16:15

3:15p ET Tuesday, July 5, 2016

Dear Friend of GATA and Gold:

Taking another look at gold futures market positioning, the TF Metals Report today says the collapse of the always-short bullion banks has gotten closer:

http://www.tfmetalsreport.com/blog/7700/onward-toward-bullion-bank-colla...

And Zero Hedge today charts the three quick smashes in gold futures over the last several days. "Gold and silver prices are being vertically challenged by an urgent 'seller,'" Zero Hedge reports. "In the latest round of monkey-hammering, 'someone' decided to opportunistically sell over $1 billion notional gold in five minutes."

It's something else for the silly technical analysts to analyze. It's posted at Zero Hedge here:

http://www.zerohedge.com/news/2016-07-05/here-they-come-again-precious-m...

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org

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Camino Minerals Signs a Letter of Intent
to Option Los Chapitos Project in Peru

Company Announcement
via CNW Group and Yahoo News
Wednesday, June 29, 2016

VANCOUVER, British Columbia, Canada -- Camino Minerals Corp. is pleased to announce the signing of a letter of intent with Minas Andinas SA, pursuant to which it can acquire through a wholly owned subsidiary, Camino Resources SAC, a 100-percent interest in the Los Chapitos project. The property consists of seven claims, totaling 3,200 hectares (7,900 acres), and is located 15 kilometers north of the coastal city of Chala, Department of Arequipa, Peru.

At Los Chapitos all the known mineralization is associated with structurally controlled breccia zones with moderate to intense potassium alteration. Small-scale mining was active on the western side of the property in the 1940s and '50s, which produced high-grade copper oxide mineralization from the El Atajos Zone. This zone ranges in width from 8 meters to 20 meters and grade from 0.8 percent to +2 percent copper oxides over a strike length of 400 meters. Approximately 6 kilometers to the east are three additional zones which outcrop along a 1-kilometer trend and were previously sampled by the vendor. ...

... For the complete announcement:

https://finance.yahoo.com/news/camino-minerals-signs-letter-intent-09000...

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Wednesday-Saturday, October 26-29, 2016
Hilton New Orleans Riverside
New Orleans, Louisiana
http://neworleansconference.com/

Support GATA by purchasing recordings of the proceedings of the 2014 New Orleans Investment Conference:

https://jeffersoncompanies.com/landing/2014-av-powell

Or by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

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GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

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http://www.gata.org/node/16

Avery Goodman: It's easy to calculate the fair-market value of gold

Tue, 07/05/2016 - 12:03

By Avery B. Goodman
Tuesday, July 5, 2016

There are many people who allege that, because gold does not pay interest or dividends, it cannot be accurately valued, like a stock or bond. That is not true. It is actually easier to calculate the fair market dollar value of gold than to value any other asset. We simply need to step back in time in order to find our answer, and then employ some math. ...

Why, then, do I even bother to make this calculation? The reason is as simple as the calculation itself. The vast difference between the fair value of gold and the current prices caused a huge gap between supply and demand, which the "supplier of last resort" (that is, the U.S. Treasury) is filling every year. ... What is important, however, is that the type of massive drain on U.S. gold reserves cannot be maintained without exhausting reserves. After that, it's "game over." ...

... For the remainder of the commentary:

http://averybgoodman.com/myblog/2016/07/05/it-is-easy-to-calculate-the-f...

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David Jensen: Detonation of the LBMA -- it wasn't Brexit, Governor Carney

Tue, 07/05/2016 - 09:25

9:25a ET Tuesday, July 5, 2016

Dear Friend of GATA and Gold:

The Bank of England has been suppressing gold prices by facilitating the London Bullion Market Association's creation of unbacked "paper gold" but the market has figured out the scheme and may be about the destroy the LBMA, market analyst and mining executive David Jensen writes.

"Leverage works in both directions," Jensen writes. "The end result is spiking metals prices, interest rates, and consumer goods prices (inflation) as wealth flees from market artifice into goods of innate value coupled with market and social upheaval as discontinuous interest rate movements disrupt the hundreds of trillions in the interest rate derivatives market and collapse the global banks that hold them."

Jensen's analysis is headlined "Detonation of the LBMA -- It Wasn't Brexit, Governor Carney" and it's posted at 24hGold here:

http://www.24hgold.com/english/news-gold-silver-detonation-of-the-lbma--...

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org

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A Contrarian's Call Option on Gold

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Experienced backers of Sandspring Resources include Silver Wheaton, the John Adams / Energy Fuels group in Denver, and Frank Giustra's Fiore Group in Vancouver.

A 2013 preliminary feasibility study shows strong economics for this large-scale mine at US$1,400 gold. With a current gold price below US$1,300, Sandspring is for investors who believe that gold price suppression will be overcome.

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New Orleans Investment Conference
Wednesday-Saturday, October 26-29, 2016
Hilton New Orleans Riverside
New Orleans, Louisiana
http://neworleansconference.com/

Support GATA by purchasing recordings of the proceedings of the 2014 New Orleans Investment Conference:

https://jeffersoncompanies.com/landing/2014-av-powell

Or by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

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http://www.gata.org/node/16

Just making sure currency markets stayed free and unmanipulated (by anyone else)

Mon, 07/04/2016 - 20:32

Analyze THIS, technically.

* * *

Banks Saw Unprecedented Step Up in Market Supervision Around UK Vote

By Patrick Graham
Reuters
Monday, July 4, 2016

LONDON -- Central banks raised oversight of currency markets to an unprecedented degree around Britain's shock vote to leave the European Union, demanding detailed updates from major trading desks every six hours throughout last week, industry sources said on Monday.

One senior banker with a major global bank said the calls, never before conducted as often or consistently, had been seen as a sign that officials were worried an "Out" vote could trigger the sort of financial sector problems not seen since the collapse of Lehman Brothers in 2008.

The U.S. Federal Reserve, the Bank of England, and the European Central Bank all declined to comment on the calls, their conduct, content, and aims.

But some officials pointed to a general promise by the Bank of England and others to increase supervision of markets around the vote and said the calls were chiefly evidence of greater -- and so far successful -- coordination of regulatory efforts by the world's big central banks. ...

... For the remainder of the report:

http://www.reuters.com/article/us-britain-eu-centralbanks-idUSKCN0ZK1SU

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The Gold Mine Barrick Might Regret Having Sold


K92 Mining is poised for production at its Papua New Guinea gold project and has just listed on the Toronto Venture exchange under the symbol KNT.V.

The gold mining startup came together during one of the toughest periods in mining history.

K92's main asset is the Kainantu project, a large high-grade gold resource with extensive infrastructure including underground mine development, a mill processing facility, a fully permitted tailings pond, and paved roads. The infrastructure means K92 can aim to restart mining in the near term with minimal capital costs and seek to grow through cash-flow funded exploration on the roughly 405-square kilometer property, considered prospective for additional discoveries.

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New Orleans Investment Conference
Wednesday-Saturday, October 26-29, 2016
Hilton New Orleans Riverside
New Orleans, Louisiana
http://neworleansconference.com/

Support GATA by purchasing recordings of the proceedings of the 2014 New Orleans Investment Conference:

https://jeffersoncompanies.com/landing/2014-av-powell

Or by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

Ronan Manly: Bullion coin sales boost revenues of world's largest mints

Mon, 07/04/2016 - 19:54

By Ronan Manly
BullionStar.com, Singapore
Monday, July 4, 2016

The world's major precious metals mints are riding high on the back of extremely strong global bullion coin demand and relatively buoyant gold and silver prices. These mints are predominantly run as commercial enterprises.

The sheer scale of revenues that the U.S. Mint, Royal Canadian Mint, Perth Mint, and Austrian Mint have been generating over the last number of years is eye-opening. Not surprisingly, due to their high value nature, revenues from bullion coin sales account for the lion's share of total revenues for each institution and have been a core driver of their overall profitability. ...

... For the remainder of the report:

https://www.bullionstar.com/blogs/bullionstar/bullion-coin-sales-boost-r...

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New Orleans Investment Conference
Wednesday-Saturday, October 26-29, 2016
Hilton New Orleans Riverside
New Orleans, Louisiana
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http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

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http://www.gata.org/node/16

Gold has outperformed currencies and stocks, von Greyerz tells KWN

Mon, 07/04/2016 - 19:08

6:07p ET Monday, July 4, 2016

Dear Friend of GATA and Gold:

Swiss gold fund manager Egon von Greyerz, interviewed today by King World News, says that for many years gold has been outperforming both currencies and stocks and that, indeed, stock appreciation has been illustory. An excerpt from von Greyerz's interview is posted at KWN here:

http://kingworldnews.com/legend-warns-what-is-coming-will-totally-devast...

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org

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New Orleans Investment Conference
Wednesday-Saturday, October 26-29, 2016
Hilton New Orleans Riverside
New Orleans, Louisiana
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Support GATA by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

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http://www.gata.org/node/16

China buyers drive silver prices higher

Mon, 07/04/2016 - 11:25

By Rhiannon Hoyle
The Wall Street Journal
Monday, July 4, 2016

SYDNEY, Australia -- The price of silver surged to a two-year high on Monday as buyers in China made bold bets in the futures market and scooped up vast volumes of physical metal.

Spot silver, the price paid for immediate delivery, rose as much as 6.9 percent to an intraday peak of $21.132 a troy ounce, its highest value since July 2014, as the Shanghai-traded benchmark futures and physical silver contracts reached their limit.

On the Shanghai Futures Exchange, the most actively traded silver futures contract jumped for a fourth straight session on Monday, hitting its 6-percent daily maximum at opening to reach 4,419 yuan ($663) a kilogram.

Monday's moves were buoyed by investors seeking haven assets and speculation about further monetary easing worldwide. ...

... For the remainder of the report:

http://www.wsj.com/articles/china-buyers-drive-silver-prices-higher-1467...

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Join GATA here:

New Orleans Investment Conference
Wednesday-Saturday, October 26-29, 2016
Hilton New Orleans Riverside
New Orleans, Louisiana
http://neworleansconference.com/

Support GATA by purchasing recordings of the proceedings of the 2014 New Orleans Investment Conference:

https://jeffersoncompanies.com/landing/2014-av-powell

Or by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

Gold to hit record in 18 months as bond yields crash, Swiss Asia Capital's Kiener says

Mon, 07/04/2016 - 10:13

By Huileng Tan
CNBC, New York
Monday, July 4, 2016

Gold prices may hit all-time highs in the next 18 months amid low to negative global bond yields, said a fund manager on Monday, joining a chorus of bullish calls on the safe haven commodity.

Despite being a non-interest bearing asset with holding costs, gold was attractive in the current climate where there was little trust in the establishment and its policies as demonstrated by the June 23 referendum in the U.K. when voters chose to leave the European Union, said Swiss Asia Capital's Singapore managing director and chief investment officer, Juerg Kiener.

The continued cratering of bond yields has also blunted the advantage fixed income instruments held over their shiny counterpart.

"This fall-off in trust is resulting in people looking at different ways to invest, particularly in an environment when the government controls the whole fixed-income market, which is negative. At least (in gold), you don't have negative yields, there is no new supply ... and falling production," he told CNBC's "Squawk Box." ...

... For the remainder of the report and a video excerpt:

http://www.cnbc.com/2016/07/03/gold-prices-will-hit-record-high-in-next-...

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Join GATA here:

New Orleans Investment Conference
Wednesday-Saturday, October 26-29, 2016
Hilton New Orleans Riverside
New Orleans, Louisiana
http://neworleansconference.com/

Support GATA by purchasing recordings of the proceedings of the 2014 New Orleans Investment Conference:

https://jeffersoncompanies.com/landing/2014-av-powell

Or by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

The 500 tons of gold that show global rise in investor angst

Mon, 07/04/2016 - 10:04

By Ranjeetha Pakiam
Bloomberg News
Sunday, July 3, 2016

Global gold holdings have expanded by more than 500 metric tons since bottoming in January in a signal of investors' rising concern about slowing growth, a Federal Reserve that's probably on hold, and the ructions caused by Britain's vote to quit the European Union.

Assets in bullion-backed exchange-traded funds rose 6.6 tons to 1,959.1 tons on Friday, up from 1,458.1 tons on Jan. 6, according to data compiled by Bloomberg. The holdings increased 37 tons last week as investors reacted to the U.K.'s vote, and swelled in five months out of six in the first half.

Bullion prices climbed to the highest level in more than two years in June as investors absorbed the implications of the U.K. result, adding to a rally that's been driven by the Fed's hesitation in raising borrowing costs and the spread of negative rates in Europe and Japan. Banks including Goldman Sachs Group Inc. raised their outlooks for gold after the vote, while yields on 10- and 30-year U.S. Treasuries have touched record lows. ...

... For the remainder of the report:

http://www.bloomberg.com/news/articles/2016-07-04/the-500-tons-of-gold-t...

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New Orleans Investment Conference
Wednesday-Saturday, October 26-29, 2016
Hilton New Orleans Riverside
New Orleans, Louisiana
http://neworleansconference.com/

Support GATA by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

GoldSeek interview with GATA secretary covers gold suppression comprehensively

Sun, 07/03/2016 - 22:53

9:50p ET Sunday, July 3, 2016

Dear Friend of GATA and Gold:

GoldSeek Radio and its host, Chris Waltzek, have given your secretary/treasurer an opportunity to explain gold price suppression in a comprehensive interview.

Among your secretary/treasurer's observations:

-- Central banks obscure their gold transactions to facilitate their currency market interventions.

-- U.S. government policy long has been to push gold out of the international monetary system to protect the dollar's status as the world reserve currency.

-- Central banks are secretly trading gold derivatives, to use the words of a French central banker, "nearly on a daily basis."

-- The West's market economy is an illusion.

-- The immediate victims of gold price suppression are commodity-producing countries, developing countries. But developed countries are victims too, since the scheme destroys their markets and democracy. This sort of central banking is an essentially totalitarian system controlling the prices of all capital, labor, goods, and services in the world.

-- Central banks meet in secret to formulate and implement their policies and this is by definition conspiracy.

-- Gold price suppression policy is extensively documented in government archives and other official records.

-- The Gold Reserve Act specifically authorizes the U.S. government, through the Treasury Department's Exchange Stabilition Fund, to rig any markets in the world in secret.

-- All major central banks are probably participating in the gold price suppression scheme, aiming to redistribute world gold reserves so holders of dollar surpluses are hedged when the dollar is devalued.

-- Central banks probably will revalue gold upward substantially overnight, beginning a new half century of gold price suppression and market rigging at more sustainable levels.

The interview is 40 minutes long and can be heard at GoldSeek here:

http://news.goldseek.com/GATA/1467648671.php

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org

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Wednesday-Saturday, October 26-29, 2016
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New Orleans, Louisiana
http://neworleansconference.com/

Support GATA by purchasing recordings of the proceedings of the 2014 New Orleans Investment Conference:

https://jeffersoncompanies.com/landing/2014-av-powell

Or by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

Gary Savage: Manipulation of gold market has created rarest of oppotunities

Sun, 07/03/2016 - 20:38

7:37p ET Sunday, July 3, 2016

Dear Friend of GATA and Gold:

Gary Savage of the Smart Money Tracker financial letter writes today that the middle-of-the-night shorting attacks on gold by bullion banks have stopped and that they have created "the rarest of opportunities" for investors as they drive gold -- and gold-mining shares -- back up. Savage's commentary is headlined ""Manipulation of the Gold Market Has Created Rarest of Opportunities" and it's posted at his Internet site here:

http://blog.smartmoneytrackerpremium.com/2016/07/manipulation-gold-marke...

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org

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Join GATA here:

New Orleans Investment Conference
Wednesday-Saturday, October 26-29, 2016
Hilton New Orleans Riverside
New Orleans, Louisiana
http://neworleansconference.com/

Support GATA by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

Weiss Research letter incorporates GATA's work

Sun, 07/03/2016 - 12:04

11:04a ET Sunday, July 3, 2016

Dear Friend of GATA and Gold:

In a promotional video, the Uncommon Wisdom Daily financial letter, part of the Weiss Research organization in Palm Beach Gardens, Florida, has incorporated GATA's work about gold market manipulation and actually has provided a bit of attribution. The video is titled "The Great Gold Cover-Up" and it's posted here:

http://www.uncommonwisdomdaily.com/reports/cfk/goldcoverup/

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org

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Camino Minerals Signs a Letter of Intent
to Option Los Chapitos Project in Peru

Company Announcement
via CNW Group and Yahoo News
Wednesday, June 29, 2016

VANCOUVER, British Columbia, Canada -- Camino Minerals Corp. is pleased to announce the signing of a letter of intent with Minas Andinas SA, pursuant to which it can acquire through a wholly owned subsidiary, Camino Resources SAC, a 100-percent interest in the Los Chapitos project. The property consists of seven claims, totaling 3,200 hectares (7,900 acres), and is located 15 kilometers north of the coastal city of Chala, Department of Arequipa, Peru.

At Los Chapitos all the known mineralization is associated with structurally controlled breccia zones with moderate to intense potassium alteration. Small-scale mining was active on the western side of the property in the 1940s and '50s, which produced high-grade copper oxide mineralization from the El Atajos Zone. This zone ranges in width from 8 meters to 20 meters and grade from 0.8 percent to +2 percent copper oxides over a strike length of 400 meters. Approximately 6 kilometers to the east are three additional zones which outcrop along a 1-kilometer trend and were previously sampled by the vendor. ...

... For the complete announcement:

https://finance.yahoo.com/news/camino-minerals-signs-letter-intent-09000...

Join GATA here:

New Orleans Investment Conference
Wednesday-Saturday, October 26-29, 2016
Hilton New Orleans Riverside
New Orleans, Louisiana
http://neworleansconference.com/

Support GATA by purchasing recordings of the proceedings of the 2014 New Orleans Investment Conference:

https://jeffersoncompanies.com/landing/2014-av-powell

Or by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

Bullion Management Group's Brandon White offers 'The Week in Three Minutes'

Sat, 07/02/2016 - 10:40

9:40a ET Saturday, July 2, 2016

Dear Friend of GATA and Gold:

Brandon White of Bullion Management Group in Ontario, which knows about manipulation of the gold market and isn't afraid to acknowledge it, has begun doing a weekly three-minute video summary of developments relevant to the gold market. The program is titled "The Week in Three Minutes" and the video from Friday, June 24, can be viewed here:

http://tinyurl.com/gwwup48

White is glad to e-mail you a link to the video every Friday, there's no cost, and the summary is free of commercial promotion. To get on White's list, please visit here:

https://wr211.infusionsoft.com/app/form/sign-up-for-this-week-in-3-mins

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org

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USAGold: Coins and bullion since 1973

USAGold, well known for its Internet site, USAGold.com, offers contemporary bullion coins and bullion-related historic gold coins for delivery to private investors in the United States, Europe, Canada, Australia, and New Zealand. It is one of the oldest and most respected names in the gold industry, with thousands of clients and an approach to investment that emphasizes guidance and individual needs over high-pressure sales tactics. The firm's zero-complaint record at the Better Business Bureau makes it an ideal match for the conservative, long-term investor looking for a reliable contact in the gold business.

Please call 1-800-869-5115x100 and ask for the trading desk, or visit:

http://www.USAGold.com

USAGold: Great prices, quick delivery -- all the time.

Join GATA here:

New Orleans Investment Conference
Wednesday-Saturday, October 26-29, 2016
Hilton New Orleans Riverside
New Orleans, Louisiana
http://neworleansconference.com/

Support GATA by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

Central banks playing competitive devaluation, fund manager Bass tells Real Vision

Sat, 07/02/2016 - 10:22

9:21a ET Saturday, July 2, 2016

Dear Friend of GATA and Gold:

Zero Hedge today excerpts an interview done by Grant Williams' Real Vision with fund manager Kyle Bass, highlighting an observation Bass says he heard from a leading central banker a few years ago.

Bass quotes the central banker speaking about the central banking fraternity this way: "So we're all trying through our treasury and our Fed to get the rest of the world to not devalue against us, while we quietly attempt to devalue ourselves against them, and it's all this race to the bottom. It is the beggar-thy-neighbor policies that we all talk about. And I believe that there is no way out."

... Dispatch continues below ...


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Experienced backers of Sandspring Resources include Silver Wheaton, the John Adams / Energy Fuels group in Denver, and Frank Giustra's Fiore Group in Vancouver.

A 2013 preliminary feasibility study shows strong economics for this large-scale mine at US$1,400 gold. With a current gold price below US$1,300, Sandspring is for investors who believe that gold price suppression will be overcome.

For a detailed report on Sandspring Resources by Tommy Humphreys of CEO.CA, please visit:

https://ceo.ca/@tommy/a-ten-million-ounce-call-option-on-gold


Of course assertions that the world's debt has gotten out of control and will have to be devalued are not new. A decade ago the Scottish economist Peter Millar wrote an incisive study on the point, arguing that such devaluations are required regularly in fiat currency systems to avert catastrophic debt deflations:

http://www.gata.org/node/4843

Four years ago the American economists and fund managers Paul Brodsky and Lee Quaintance wrote a paper surmising that currency devaluations and an upward revaluation of gold were already the long-term objectives of the world's major central banks so they might reliquefy themselves:

http://www.gata.org/node/11373

A week ago Gold Newsletter editor Brien Lundin made a similar point -- that the United Kingdom's withdrawal from the European Union was not in itself a reason for gold to rise but that the devaluations of currencies that likely would follow was very much a reason:

http://www.gata.org/node/16542

Of course if currency devaluation is or becomes central bank policy, gold is the traditional mechanism for it, with silver serving as gold's flamboyant publicist.

It is hard to see such an event as anything but a last resort for central banking, a repudiation of the financial system and the unleashing of hyperinflation on the world. But being so corrupt and tyrannical, the system does seem to need repudiation.

Zero Hedge's excerpt of Real Vision's interview with Bass is posted here:

http://www.zerohedge.com/news/2016-07-01/kyle-bass-shares-stunning-thing...

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org

* * *

Join GATA here:

New Orleans Investment Conference
Wednesday-Saturday, October 26-29, 2016
Hilton New Orleans Riverside
New Orleans, Louisiana
http://neworleansconference.com/

Support GATA by purchasing recordings of the proceedings of the 2014 New Orleans Investment Conference:

https://jeffersoncompanies.com/landing/2014-av-powell

Or by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

Shanghai pressures gold paper markets, and China remonetizes silver

Sat, 07/02/2016 - 09:49

8:48a ET Saturday, July 2, 2016

Dear Friend of GATA and Gold:

USAGold's July letter notes that the Shanghai Gold Exchange is almost entirely a physical market, that it seems to be putting pressure on gold derivatives markets in the West, and that China's purchases of silver have been rising dramatically lately, indicating that China sees silver as being just as much a monetary metal as gold. Of course for many decades China's primary money was silver. The USAGold letter is posted here:

http://www.usagold.com/publications/NewsViewsJuly2016.html

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org

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The Gold Mine Barrick Might Regret Having Sold


K92 Mining is poised for production at its Papua New Guinea gold project and has just listed on the Toronto Venture exchange under the symbol KNT.V.

The gold mining startup came together during one of the toughest periods in mining history.

K92's main asset is the Kainantu project, a large high-grade gold resource with extensive infrastructure including underground mine development, a mill processing facility, a fully permitted tailings pond, and paved roads. The infrastructure means K92 can aim to restart mining in the near term with minimal capital costs and seek to grow through cash-flow funded exploration on the roughly 405-square kilometer property, considered prospective for additional discoveries.

For more information, please visit:

https://ceo.ca/@tommy/the-gold-mine-barrick-might-regret-selling

Join GATA here:

New Orleans Investment Conference
Wednesday-Saturday, October 26-29, 2016
Hilton New Orleans Riverside
New Orleans, Louisiana
http://neworleansconference.com/

Support GATA by purchasing recordings of the proceedings of the 2014 New Orleans Investment Conference:

https://jeffersoncompanies.com/landing/2014-av-powell

Or by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

Dollar's share of global reserves slips, euro's rises, in first quarter, IMF says

Fri, 07/01/2016 - 09:12

By Gertrude Chavez-Dreyfuss
Reuters
Thursday, June 30, 2016

The U.S. dollar's share of international currency reserves slipped in the first three months of the year as China's economic slowdown and falling global stock markets prompted investors, including central bankers, to seek relief in other safe havens, such as the yen.

The greenback's share of allocated reserved dipped to 63.6 percent in the first quarter, equivalent to $4.57 trillion, from 64.3 percent in the last quarter of 2015, data from the International Monetary Fund showed on Thursday.

Not coincidentally, the dollar fell 4 percent against a basket of currencies in the first three months of 2016. ...

... For the remainder of the report:

http://www.reuters.com/article/us-currency-reserves-imf-idUSKCN0ZG29M

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Silver mining stock report comes with 1-ounce silver round

Future Money Trends is offering a special 18-page silver mining stock report about how to profit with the monetary and industrial metal, and it comes with a free 1-ounce silver round. Proceeds from the report's sales are shared with the Gold Anti-Trust Action Committee to support its efforts to expose manipulation in the monetary metals markets. To learn about this report, please visit:

http://fmturl.com/gata/


Join GATA here:

New Orleans Investment Conference
Wednesday-Saturday, October 26-29, 2016
Hilton New Orleans Riverside
New Orleans, Louisiana
http://neworleansconference.com/

Support GATA by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

British bonds go negative as Bank of England plans more money creation

Thu, 06/30/2016 - 22:39

Carney Prepares for 'Economic Post-Traumatic Stress'

By Emily Cadman
Financial Times, London
Friday, June 30, 2016

The Bank of England is preparing to unleash another round of monetary stimulus as it battles to contain the economic fallout of The UK’s decision to leave EU.

In a stark warning to politicians, governor Mark Carney said a downturn was on its way and Britain was already suffering from "economic post-traumatic stress disorder."

He said the central bank would take "whatever action is needed to support growth," which probably included "some monetary policy easing" in the next few months, in an attempt to reassure the markets and the public.

But Mr. Carney also said that central bankers could do only a limited amount to mitigate the pain.

Sterling fell more than 1 percent to $1.32 as traders began preparing either for rates to be cut to historic lows, more quantitative easing, or a combination of both. The pound hit $1.50 just before the results of the referendum on EU membership last week. Equities rose, with the FTSE 100 index closing up 2.3 percent on the day.

British government bond yields entered negative territory for the first time following Mr. Carney's speech, with the yield on one two-year bond hitting -0.003 percent. This put the UK alongside countries with negative yields including ­Germany and Japan. The global figure for government bonds in negative yield has soared to $11.7 trillion as borrowing costs around the world collapse. ...

... For the remainder of the report:

https://next.ft.com/content/ec42a3ba-3ed3-11e6-8716-a4a71e8140b0

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Join GATA here:

New Orleans Investment Conference
Wednesday-Saturday, October 26-29, 2016
Hilton New Orleans Riverside
New Orleans, Louisiana
http://neworleansconference.com/

Support GATA by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

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