Let the festivities begin! Good wishes to all! May the true spirit of this unique season reach each and all.

I posted the following this morning on another JPM site, a truly excellent junior in Canada...with potential that may others have. It is a bit hammered together and perhaps a little too elementary for many here but what the heck...for some new comers, it m havve relevance.

"XXX is a perfect example, a poster child if you will, of the result of a multi-year campaign to destroy almost all interest in gold, silver and the stocks (see GATA.ORG ). The bottom is in…or nearly in… for XXX…nearing its low of Sept/08 of 57 cents….and now down from its high of $4.63 in May 2010. This stock is… in real values, more than twice as low as 08 because the price of gold was around $800 in 08… and resources in the ground are far greater today (this is representative of most junior producers). Look for XXX to hit over $3 in 2013….and on to $20 in 2014/15. Producers such as XXX have gold and silver in the ground…the most reliable source in the world. The leverage to the upside is straining to be unleashed by the natural laws of supply and demand globally.

The junior precious metals sector has been the most egregious example of market manipulation/intervention in history…if you overlook the intervention in the gold and silver markets in the last few weeks. The long term, powerful campaign by a criminal gold cartel determined to go the distance has now created the best opportunity in the JPMs ever seen. The evidence for all of this is readily available for those who take the time to pursue it, which I’m sure many long term investors have. The naysayers and fear mongers will continue to take advantage of the uninformed. These fear mongers have been right for many years because they were backed/directed by the criminal manipulators of the PMs and JPMs who were controlling trading in the markets, and especially the JPMs via massive naked shorting (counterfeit shares), shorting, high frequency trading, dark pools etc. Jim Willie (Hat Trick Letter July/12) actually put in writing without any reprisal, that Canaccord was the tool of the US banks defrauding the Canadian JPM markets by massive naked shorting. Complaints for years to the OSC have been ignored/denied. This has also been suspected by many experts in the GATA realm over many years…and such as Jim Sinclair (who did not name names), ted Butler, Eric Sprott, Bill Murphy, John Embry, Eric King’s World news, and so many others. All parties involved will never see criminal prosecution…only fines, if anything (see the only one example of USB last week being fined $1.89 billion for fraud in the LIBOR global markets). Barclays, JPMorgan, Goldman Sachs and others have been and are being accused of similar fraud, with multiple pending law suits.

One of the nefarious tools of the cartel was launched many years ago (2004) in the form of the GLD and SLV gold and silver ETFs. These were designed to divert investment away from the bullion and into paper promises (same for some gold/silver stock ETFs). The plan successful diverted investment into devious mechanisms that allowed the cartel to access gold and silver illicitly. The prospectuses of said ‘tools’ … in the fine print… actually warned that settlement may be in bullion or cash…and that the sub custodians of said bullion…such as JP Morgan, the biggest concentrated shorter in the silver markets…were not privy to independent audits. It is suspected that such ETFs will default to cash. All this helps the cartel to leverage gold and silver to 100 times that on deposit…a fact exposed by whistleblower Andrew MacGuire in 2010 and that Jeff Christian of GFM, dupe for the Cartel, actually admitted at same public hearing. It’s all available at GATA.org….and impossible to deny. By the way, GATA is now supported by many former disbelievers of note, those who formerly whined about ‘conspiracy’ and gold bugs wearing tin foil hats. The really do look like the fools now.

In the face of over 12 years of criminal fraud in the PM sector via London and the US, with a host of sycophants looking the other way ( such as Canada) during which time a concerted, multidimensional campaign was (and still is being) waged by the U.S Gov., Fed., Wall St. Western Central banks, brokers, various funds, the cartel owned media, certain analysts and others…all the way down to the paid cubicle rats imbedded on most BBs…this war on gold (in a failing attempt protect the US dollar as the world’s reserve currency backed only by increasing debt…even though the $US has lost 50% of its ‘value’ in 10 years … and 95% of its ‘value’ in 100 years) has finally reached it’s inevitable end point. This does not mean it will end abruptly (although it could if there is another major failure such as a Lehmann’s or AIG or MF Global), but the bottom is in and 2013 will be very positive for gold and silver. Note that the price of gold has gone up for ten years... actually followed… the increasing US debt…now at $16 trillion plus deficit… with a GDP of about the same and slowing tax revenue of only $2.4 trillion (total debt over $200 trillion and growing including Medicare, pharm care, social security, pensions, entitlements).

Also note that the price of gold, in the face of all the attempts to suppress it, has been the best investment over ten years, averaging 19% /year on average…although this year it may be around 8%...meaning that in 2013 it will catch up and see about a 20% minimal increase. Amazing how the mandarins of the markets have been calling for the demise, the ‘top’ in gold, for over ten years every year now…although you may have noticed it is a bit different lately. Now, it isn’t amazing that most individual investors are totally out of the gold markets… just at a time when the big boys have been quietly buying in at the lows ready to go long and make a fortune going the other way…with Joe six-pack finally buying in at the next peak around $10,000 gold in a few years.

The western central banks have only managed to slow the price of gold down over 12 years by selling incessantly into the world markets, which has seen the biggest transfer of wealth in history from west to east as the buyers in China, Russia, Asia, ME., Eastern Europe, Korea and many others have been steady and increasing buyers. The West has finally shot their wad and have nothing but flimsy illegal means to rely on. Now they are starting to buy, but too little too late…as increased buying will only serve to drive up the price in the real spot price markets. Suspicions that the un audited gold held in the vaults of the U.S., both its own gold (8400 tons) and the gold held there for others ( Germany, Austria, Denmark, others) has been sold many times over via leasing to bullion banks who have sold it into the markets. That gold is officially still on the books of the Central banks, even though it isn’t there. Also, it is suspected that much gold has been transferred to London and further used to mislead the markets via the LBMA. Three huge problems exist for the crooks. They cannot return stolen gold to other sovereign countries such as Germany whose requests for an independent audit have been ignored. Two, they cannot deliver into deliverable contracts. Three; they will have to buy gold and silver in the open market to try to replenish their gold reserves as the cry for a new gold standard, a gold backed global currency basket, is about to be initiated.

The behemoths of power are pretty well out of real ammunition, finally. This is recently witnessed last week by the separation of the spot price of silver trading much higher/oz. in Shanghai than the paper price on the COMEX. Buyers are fleeing the COMEX as paper promises fail. There is simply not enough bullion to deliver against contracts…so we will see (which is stipulated in such contracts) settlement in cash rather than bullion…which in real terms is a default in the market. The ‘owners’ of said gold will never see it. The gold stolen from Libya and Iraq and others has been used to desperately continue the cornered cartel’s end game tactics. The suspicion is that the gold held for others in the vaults of the Fed. and London may be kept by them. If this act of defiance and theft should occur, world peace is at stake. Is possession 9/10ths of the law in this case? After all, the US is the strongest military in the world by far. You saw the desperate media game of the Queen observing the gold held in the London vaults last week didn’t you? To whom does it belong? Serious buyers of physical gold and silver are now bypassing the COMEX and LBMA and buying directly from producers/miners. This will now underpin and drive the bullion prices up regardless of the shenanigans of the fading cartel paper games.

Well, just thought I’d drop by with a few thoughts and to wish all longs here a very Merry Christmas. I just know you will have a very happy new year… along with all gold bugs who still live.