Loading ...Gold Fever and Looney Gold
Gold in Canada Next Stop…all time highs
Back in 2011 The Looney ( Canadian Dollar) was about Par with the US Dollar …so Gold topped out around $1900 in both Dollars)
This sure is a Pretty Chart eh ?
And Now For the REST of the Story ( Click Twice to Enlarge)
I have been waiting patiently to experience that ’94 to ’96 Mania again ( well actually Impatiently) …only this time SELL the TOP!
Looks like we may be in 1994 ( back to the Future) again …Spock Rocks are Erupting on Good Drill results regardless of the Price of Gold. Spock is acquiring These Rocks Dirt ( Pun) Cheap via Private Placements Below present market trading prices ( plus warrants)
There are Lots of Canadian and Other Goldtent Readers and Members here who have been in this Crazy market for 40 and more years because they have been bitten by the gold bug and have the fever …share your Story .
GOLD FEVER …There is NO Cure ! It won’t be easy (it never is) ..but if you got the fever and you got what it takes (staying power) You have NO choice…Lets Go
Following Spock ? 
Who’s In ?
L to R
Graddhy , Bikoo99 , Optional,
Karl , Norvast , Silverboom…………………….Hey Wait for me
Have you allowed for the possibility that this is a broad double top with a huge bear flag leading to a failed second top?
Just sayin…
Party Pooper Plunger
Got Gold fever…The price of gold is not important ( in 1994 it was $400 flat and nobody with the fever noticed.)
…Exploring for Nuggets…in Brazil ,Mongolia , Africa , Borneo ,Khazakstan, Quebec , Nunavit, anywhere and everywhere. These Nanocap companies survived the most brutal bear market in history are trading at comical levels and are cashing up .
I guess this means your not coming
🙂
Well not totally. I do hold some such as Riverside Resources, and a few others. These have proven themselves even in a bear market. However I hold lots of cash waiting for some of my favorites to reprice (to the downside)
I do understand the concept with exploration stocks got to be in it to win it. Even in a bear market. Just recall Reservoir of a few years ago.
Riverside does have rather potent looking charts despite not having grand recent news releases touting multiple drill holes replete with pure gold–more just slow-and-steady reports without much flash. (I own a little, hoping that the charts indicate something.)
I’m not sure what got me started in Au, but I started as a child panning for gold when living in Colorado. Rest of family would do other things. If they went off hiking or something and there was good fishing, I’d fish. Otherwise I’d take out the gold pan. (A lot of the creeks in the area were not only fished out but were too acidic because of old mines.) Now I like hiking, but at the time I figured that you should try to get something for your time, like fish or gold. Also sitting in the nice cool creek was pleasant on a hot summer’s day.
I never got very much, just a few flakes of gold — I’d take away lots of magnetite with a magnet and there would be a little yellow stuff I didn’t know what to do with along with generic sand which was yellowish enough that (call me silly) it was sometimes hard to distinguish from tiny gold flakes. I’d pool all the pannings minus most of the magnetite and re-pan and remove more magnetite. A little more yellow stuff might be apparent, but hardly anything. Not worth saving. Catch and release.
Once years later when I was traveling back from the Nw I camped somewhere near a jeep trail in Idaho and panned and got some interesting stuff. However I never went back and expect I wouldn’t know where it was. I got as much fun though finding a piece of I think jade (which I lost before being able to definitively identify it) in a Wyoming river while panning for gold while camping on the way back from the NW.
This is not what you were wanting, but someone else (Optional) at spockm has more sophisticated stories about early life searches for precious metals.
I still sometimes fantasize about being back in that place in Idaho where I had the interesting panning experience. I will not tell you about the metallic minerals I noted at a certain site in Colorado as a child that were not at the time described in the rather extensive geological literature of the area in question. (I researched these–I was a geology/minerology/mining nerd at the time.) I do dream about that one, the Colorado site with the metallic mineral that shouldn’t have been there, literal dreams, for decades. I suspect it’s nothing much since it’s an area that has been looked over many times over, but those minerals simply were not generally described there.
Since too few people are commenting, I’ll pollute the board further, on uranium fever. As a child I was such a brat that I pestered my parents into buying me a low-quality used geiger counter for Xmas or birthday and then pestering my mother to drive me around to use it. She and my sister would hunt for wildflowers. I even started to try stake a claim but didn’t get too far. I recently read that there was subsequent uranium mining, a small amount, near or at that site. However zoning closed it all down. And rightly so. Who wants radioactive stuff all around?
The gold stocks came much later.
Wow Karl…do you Glow in the dark ? 🙂
The good looking inverse h&s, which I have posted on earlier, on that weekly should be noted, its PO is way above ATH.
Great chart. 20 year base still has more to run. In exploration phase it has just started.
Clint Eastwood movie about gold fever “Pale Rider” describes best of prospectors looking for gold nuggets.
Thanks.
Yeah, just shy of 40 years…way back in the late 1970’s my dad was really into gold/silver. He was making his fortune pretty late in life IMHO. But he and his buddy had latched onto a broker just across the border in Windsor and they were trading gold stocks like no tomorrow. Just the two of them, couldn’t find a goldbug back then any easier than you can today. He convinced me gold was going to the moon and that civilization was on the verge of collapse.
He tried to get me into a gold explorer, Mentor, I think, but with slow communications back then and no voice mail, it took awhile. Too long, as I got in on the downside. My first taste of a gold stock and it was a loser!! Should have paid attention back then.
Living in Toronto at the time, I started buying Krugerrands at Bank of Nova Scotia. One coin month, figured one day I would be able to buy a car with a Kruggerand. Sold all of my belongings – high end stereo, motorcycle, car – and moved into a cheap basement apartment and started getting “serious” about putting every dime I had into the market. Shortly after that, I met my future wife and everything went out the window. Sold my Krugerrands to finance a move to Vancouver. Then sold my gold stocks to fund a move back to Toronto. Those were the days, certified idiot on the loose.
Well, getting married and having kids took me out of the gold market like forever. Dipped back in briefly in the mid-80s when I did marketing work for the newly introduced Canadian gold Maple Leaf.
Fast forward to 1999, December. I was working in Dallas and had cashed up a pretty little nest egg in my 401K investing in the general market. Got overly nervous that month and at the final day of the year sold it all and went to cash. (The crash soon followed, God sometimes looks after the dummies.) I cast about looking for somewhere to put my cash to work. My dad suggested I revisit gold. Which I did. Somehow over the next two years I stumbled into Goldtent. There, with insight from some fellow gold bugs and being in a great bull move I took $75K up to a quarter mill. Feeling quite proud of myself, I ignored my wife’s admonishes to sell and get out of debt. SELL!! Nope, rode that sucker down a ways.
Repeated the process and regained my $200K target but not satisfied, I rode that sucker so hard I lost most everything in the ensuing bear. However, those funds while I had them made the difference in surviving over 4 years of unemployment at the end of my “working” life. And it paid for an extended vacation to Australia and New Zealand. And my daughter’s wedding…
During those early golden years, I met up in person with some great folks, many of whom helped me. Eagle Eye, SOEE, EEOS, Dave, Dusty, Gold Balloon, to name a few. Everyone I met and/or engaged with was a character, and for all I can tell, still are. The common bond of being a goldbug overcame any and all “differences.” Like-minded people gathering for some uplifting times of fellowship. It was a grand time, fondly remembered.
Unlike his son, my dad had the brains to get out of gold and into the general market, and followed the advice of some astute newsletter writers. He hit the high water mark of his investing life in 2016. He lived till 95, dying about two weeks after his last birthday. His goal was to live to 100, but his kidneys finally got the best of him. While he was a goldbug till the end, he was smart enough to get out of the bear and into a bull while he still had plenty of ammo. Wish more of his gene pool had been stamped on mine.
So now the games are afoot once again. As Spock has noted, the experiences of that bull/bear swing in gold (and silver) leave an indelible mark. I always have a finger hovering over the “sell” button these days, determined not to suffer losses like I did before, watching my fortune slowly dissipate before my very eyes. To me it was and is a fortune, because that small amount of money would have supported a very nice lifestyle living on the road in an RV, which is what we do now.
So what do you do when all you have left is a few crumbs to play with (before dad’s inheritance) and retirement hits you between the eyes and no one will hire you anywhere for anything? Why, you pick yourself up and go sell RVs, that’s what you do. Determined to live a vagabond’s life, I sold RVs for seven months. Sold squat – and I do mean squat – for the first three months. Had no idea why I wasn’t fired. One day my boss Cindy comes into the bullpen, looks over my shoulder at my computer screen, and asks, “What are you doing?” I say I’m researching a competitor. She responds, “You, sir, are wasting your life. Why you bother coming into work is a mystery to me. Now quit wasting your time on that junk and go sell something!!!” And out she walks. The rest of the guys in the bullpen are looking at me, wondering if I am gonna quit or what.
Well, I went home that night and had a come-to-Jesus talk with myself. I determined that from that day forward, I was going to follow instructions and processes to a “T” and would be asking Cindy every stinking day “what should I do now?”
All of a sudden, I started selling. I went from zero sales in the middle of the month to 6 by month end. The next month I was the number two sales guy. If I got my hands on a customer, 90% of the time it was a sale. I started getting referrals. One of the owners called me up and said they wanted to train me to sell the big busses (where a good salesman can clear $250K in a year easily) over a two year period. They offered me a position selling Airstreams exclusively.
My wife and I talked and agreed I could not take advantage of the company because we planned to bail out as soon as we had the wherewithal to buy a truck, a fifth wheel, and hit the road. That time was fast approaching. About two weeks later, it was time. We found the exact fifth wheel we wanted, secured the exact truck we needed, and I called it quits. I got an email from Cindy shortly after I left telling me if I ever wanted a job selling RVs they had a spot for me at her store.
For nearly three years now we have enjoyed a life on the road. We’ve traveled from Florida to the west coast up to Washington, Montana, Colorado, Utah, AZ, all of the east coast up into New Brunswick, PEI and Nova Scotia. We leave in about two weeks from our Florida winter stay to head west again, and will end up in Jasper and Banff in Alberta for the first two weeks in September. From there, back down to AZ for the winter. It’s been a ton of fun, and as long as it continues to be we will be “out there” seeing the sights, hiking and shooting photos.
So now I am rebuilding that “fortune.” Only a year in and being much wiser with my funds. And always thinking of protecting myself to the downside. I make use of options now, and use trailing stops whenever I can. My mind will never be right when it comes to investing because of that eye in the back of my head that always sees the downside, the next bear, lurking, stealing up on my assets.
Had Fully not persuaded me to join up with Spock and Rambus I think I would be just treading water. But when you are connected with such talent and such knowledge, along with all the outstanding posters/contributors here, one would have to be lobotomized not to make money, and lots of it. The group-thinking here is stellar, and I consider it a blessing to participate.
That’s my story, and I’m sticking to it.
WOW ! What a fantastic journey you two are on. I envy your lifestyle even including all the uncertainty. trade well and prosper Boomer
Thanks, Fully. 😀
Great, interesting read, thanks.
Thank you, Graddhy. (Y) (Y)
Great story. Thanks for sharing, and all the best to you.
Appreciate the comment, Northstar. 🙂
from and uber simplistic look. Massive move up anything but a wave 3? Surely? Question remains is the 4 done and dusted or still on going. It is what keeps us hooked.
My story. I’m young. Not from a gold rich nation. Seen and discovered this site through investigation and honestly frequent it multiple times a day. Love the analysis of bugs and bears. The hope and pessimism. What do I want? I want to buy. Big. But this is not the time I feel. Leaning towards Plungers view. His article on bear market phases is still resonating with me. I wouldnt be surprised at all if this is just a huge backtest of Stage II. No comical selling is what gets me. I do feel that stocks have bottomed but I haven’t got in, mainly due to my inability to understand how to buy them! Or I would have bought so many different ones months ago and would be sitting on impressive gains. Sigh.
I follow Rambus, Plunger, Graddhy, Surf, Norvast and all who have input worth following, which on this site, is the majority!
The battle between Rambus’ charts and Graddhys have me intrigued. Which will play out. For now I think Graddhy will be right we go lower in USD, but the Dollar bull is not done. Longer term Dollar will bust out into open air and we may be in trouble. Rambus’s charts are just too good and till he says otherwise, don’t fight the master.
Wax on Wax off.
Just sign up for an online trading account. I use Hargreaves Lansdown.
Hi Wazcam, if you’re looking for direction, have an acct and some investible capital (which meet the risk factors in this sector), I’d suggest a sub and look at spockm’s picks. I, being previously convinced of the coming bull market in PM’s based on my own personal research, have been following this site since a link was posted in a ZH comments section 3 yrs ago. Like you, I dabbled in some stocks based on recommends on this site and it was hit and some miss (this was during the Feb ’16 rocket when suggestions were dime a dozen and I had ADD) – my nature is that of a herd investor which is another reason I sub’d – I need discipline in executing and following through on my primary thesis. I watched Spock’s pics before spockm started and I was (and continue to be) amazed at his foresight. Yes, I rode the Q4 ’16 roller coaster down through the trough, but his portfolio weighting strategy and ability to see the macro and micro views of new and yet-to-be-held stock opportunities is unparallelled – my job in this market – emulate the matrix activity and stock weightings as much as possible – if you don’t have that much to invest – at least take a look at his top 10-12 holdings – his $ is absolutely where his mouth is. If you, like me are convinced of the coming macro PM bull, I’d highly recommend ponying up the 6mo sub fee. Between family and work I don’t have time to research individual stocks or try to get in on private placements but I will say – if you follow things closely and can jump when he says so – you won’t regret it – the one thing Spock has that most others and I don’t – DISCIPINE, PATIENCE and EXPERIENCE. BTW being an uber skeptic, I have never followed anyone in finances or life choices in five plus decades, of course with mixed results, so I don’t feel that I’m sold easily :). My sincerest and best wishes to you in your search for conviction and prosperity in the next PM bull market !
I read Von Mises, Von Hayek, Menger, Bohn Von Bawerk et al., took a look at the global economy and started buying physical shortly thereafter. If governments and central banks refuse to anchor their currency to gold, and provide necessary ballast to the global monetary systems, individuals will need to. Knowing how it feels to be protected against the monetary experiment currently underway by out of control monetary authorities, leads me to believe that others will seek out similar protection when things start excellerating. That’s why I have ‘gold fever’.
Amazing book about gold fever here. Just an awesome book if you like non fiction, history and gold fever.
https://www.amazon.ca/Klondike-Last-Great-Gold-1896-1899/dp/0385658443
Some of the individual stories are mind boggling. One kid became a millionaire sweeping the floor of the Dawson City tavern. Currency in Dawson was gold flecks. Incredible book.
Thanks Dave…I just ordered it…Pierre Burton…a legend
It’s a fun read. Some crazy stories. Hard to imagine taking those kind of risks. Bonanza Creek.
He also wrote a great book about the Depression in Canada. Terrific read…
I will indulge myself further, might it might be interesting since it’s different from other people’s backgrounds. I could go into stories of the making and losing lots and lots more than once, and a lot else, but I won’t. That generally came later.
In the 1970s while reading through vol. 3 of Capital, I fixed on a passage where Marx writes something like this: When things start stagnating (when the average rate of profit is declining) the participants are unaware and keep partying. They keep coming up with tricks and gimmicks. There’s credit. Then more credit. Then credit on top of credit and credit on credit on credit. Along with the extreme extensions of credit that make it look as if things are still booming away, swindles increasingly, tending to be melded in with some of the manifestations of the extremes of credit creation. But eventually what happens with swindles is the inevitable, and things start falling apart, the whole thing along with the individual swindles, since the whole thing is in essence a swindle after all (my elaboration). People first insist on better credit, then better credit still. As panic takes hold only cash will do (I suppose in Marx’s era that meant cash supposedly backed by bullion.) However as panic really takes over then cash is not good enough–it has to be gold. Back in the 70s I figured that even in the era of fancy international academic propeller heads and SDRs and sophisticated exchange of currency Marx’s scenario sounded about right, except on an even grander scale. (I’m giving the cartoon version of it.) If I got money I would put at least a fair amount into gold. And so I did, at least via the stocks. (Telling this story to Fully by the way is how I got the name “Karl”.)
The other part of my story that is perhaps slightly unusual is that in the 1990s I morphed from being subscriber to friend of newsletter writer (and writer about many things) the late Paul Sarnoff. One thing he did for me was give me his copy of Jack Schwager’s 1st book (I think) on technical and fundamental analysis of commodity markets and tell me to study it. If I had followed the TA better I would have avoided the heavy losses I took a couple of times later. (I have recommended Schwager’s books. I’ll recommend them again.) That was the main wisdom I got from him on market analysis (there’s one other piece he wrote on placing orders on penny gold stocks, when to buy and sell, that he learned from a Toronto trader from the 1950s I think that is probably great but I’ve misplaced it.) The other thing is that he would tutor me at gold shows. He would direct me to tables and presentations and afterwards ask me what I thought of them: mainly whether management was crooked or not, or something to that effect. Sometimes he would respond with a clever, biting comment. Sometimes with a hint of an expression, or no expression at all. All in all I had a sense of what he thought was hype. I also got the sense that he thought I was fairly good at intuiting fakeness and fraud. I became confident enough to invest on my own in these risky things as a result. They are in fact rather dangerous, but although usually full of self-doubt I know that I am pretty good at sensing the hype. (Let me note that he was good at not letting me know what he was going to recommend in his publications, even with gestures. I for my part went out of my way not to buy anything that I guessed–usually inaccurately–he was about to recommend unless he had written or spoken highly about it.) There’s more, but that’s plenty and probably too much.
edit 2nd to last sentence: …written or spoken **publicly** highly about it.”
Our resident Marxist
🙂
It is difficult to include all of the people and readings that influenced the goldbug journey – you zeroed in on key influencers. Especially like “As panic takes hold only cash will do (I suppose in Marx’s era that meant cash supposedly backed by bullion.) However as panic really takes over then cash is not good enough–it has to be gold.”
Love to hear how others got here. It’s a special place, and I have yet to hear from anyone who claims to have it all figured out.
Fully,
Awesome chart of CDN Gold
Perfect for the weekend to leave at the top of the page to generate such discussion
The microcaps that survived the CDNX disaster are indeed coming back to life and indeed are popping
Left for dead, or hibernating ??
Wealth in the ground rules !!
Good Evening Friends
Winedoc
Thanks Fully for including me in the gold bug group photo! Since were sharing gold bug stories, I will follow up to my story I touched on over at Spocks. From an early age, both the California gold rush and the great depression periods were of interest to me and still are to this day. Both my father and my grandfather were hobby/part time prospectors. I was born and raised in El Centro Ca, 9 miles north of the Mexican border. It’s a farming community that’s 42 feet below sea level that is surrounded by desert and mining history in nearly every direction. My favorites were the mining rich mountains in Baja Mexico to the south and the mountainous region to the east along both sides of the Colorado River. My grandfather would often take me on his prospecting ventures many times checking me out of elementary school shortly after my mother dropped me off that morning. He would always saw, “we will ask for forgiveness when we get back home” and off we would go. We would use a homemade hand operated air bellows dry washer to accumulate our material and with a gold pan and some water, it was hobby sampling at its best. We would always eat lunch at one old mine site or another on the tail gate of an old Datsun pickup truck. My father and I would often drive down to an old mining village in Baja Mexico call El Alamo. We would mine by hand with pick and shovel and then wash the material in the creek using a wet slushbox. I was absolutely fascinated with the remains of the old vertical stamping mill that sat on the hillside above the creek upstream from the village. I would often craw around the inside of the old mill studying how the shafts, gears and cams worked for raising and dropping the vertical steel stamps that crushed the ore. Some of the best memories came from bathing in the creek and cooking on a mesquite wood fire. Using the stake pockets in the bed of an old dodge truck, we would take ¾” PVC pipe and make an arch from one side of the bed to the other and then tarping if like the old calistoga wagon for a dry place to sleep at night. It was truly some of the best days of my life and often wish I could go back. I still have every little nugget, flak and spec I ever found. I had been making hand operated air bellows dry washers as a kid and sold them to my grandfather’s prospector friends. When I was 18 or so, I got the bright idea that I would sell blue prints for building your own dry washer. I ran an add in one of the prospectors magazines advertising my blue prints and sold a whopping 4 sets. Little did I realize, very few people even knew what a dry washer was let along wanted to build one. One set of prints got mailed (all the way to Alaska) and as a kid, that made the whole thing worthwhile. In my 20’s and 30’s, I collect many of the old one cylinder hit and miss gas engines that were used in the mining industry from the late 1800’s on. Another bug that’s very hard to shake. Thanks to a friend, I landed a job in 1992 working for Chevrolet’s off road race team. Our mission was to win the Baja 1000. I ended up being the chief mechanic, co rider and back up driver. Not bad for being the son of an auto mechanic and a shade tree mechanic my self. Oddly enough, we raced right through El Alamo Mexico, the very place my father and I mined in previous years. I have been extremely lucky over the years to have been surrounded by some of the very best people in industries ranging from commercial refrigeration, racing, real estate, timber lands, disaster recovery and now, mining the Jr’s with a computer. It’s funny how life can take you full circle. I recently discovered last week that I was at an original old mine site when I was around 12 years old (35 years ago) that’s now about to become the next Spock rock. I could have never imagined something like this ever happening. My life has had a strange way of current ventures crossing the path of past ventures and here it’s happened again with my recent involvement with the Jr’s. For the very first time in my life, I feel like I’m right where I’m supposed to be. Surrounded by the best tallant in the industry. An old friend once told me that “luck was preparation meeting opportunity.” Between Spock and all the great dedicated contributors here on the Tent, I’m feeling pretty lucky. Thanks to all who participate in making this experience something to remember!
How could I have forgotten. Thanks for the eye opening charts Fully!
I love it. That stock was a 100 bagger, then a 0.001 bagger!