Both Chris Temple of the National Investor and Rick Ackerman of “Rick’s Picks” weigh in on today’s markets.
Click download link to listen on this device: Download Show
The markets seem to be getting back to “normal”, whatever that means! What is the outlook for the future, two of the best newsletter writers in the world weigh in on this question.
The devaluation of the Yuan has made the Central Bank of China Explode ! https://www.youtube.com/watch?v=0XklgneDoZs Look the yuan bills flies High !
We have to sit down at some point and have a drink! Seriously!
How about by December?
EXPECT THE UNEXPECTED………………….
FFM CCF – “EXPECT THE UNEXPECTED………………….”
Check out 45 seconds into this clip for that line to take on new meaning 🙂
The Astrological Report – Kentucky Fried Movie
HA,HA,……..funny………….. 🙂
That is absolutely hilarious!
Ha! When Frank said that for some reason that news broadcast popped into my mind.
For those following the Seabridge Gold story this week:
SEABRIDGE GOLD FILES SECOND QUARTER 2015 REPORT TO SHAREHOLDERS AND ITS FINANCIAL STATEMENTS AND MD&A
Thursday, 13th August 2015
(Update) Sandstorm Gold Acquires Another 2% Of Aurico Metals
Aug. 13, 2015
Summary
-SAND purchases an aggregate of 2,362,401 common shares of AuRico Metals Inc., representing approximately 2% of the outstanding common shares of AuRico.
-Upon completion, SAND will own an aggregate of 14,174,402 AuRico Shares, or 12% of the outstanding AuRico Shares.
JJ,
For the record, the Plunge Protection Team, or President’s Working Group on Financial Markets was created in !988 by Executive Order 12631 after the calamitous market drop of 1987.
It buys Futures and Stock shares.
http://www.archives.gov/federal-register/codification/executive-order/12631.html
It is a group, technically under the financing of the Treasury Department, but contains representatives of the Treasury Dept and the Fed.
You can observe WHEN it is acting, buying futures or shares by its rather clumsy buying of large orders causing a sudden jump in an index.
GOOD ONE ………CFS………………………
CFS:
And what happens when they cover those large orders as they have to?
THAT IS A GOOD QUESTION BOB…………….WHAT IS THE ANSWER……..the claw
If you sell 1000 contracts of fridgits and it makes the market go down X, when you buy 1000 contracts of fridgits to close the position, it will make the market go up X.
Every commodity broker that ever learned the trade knows that.
If someone is dumping contracts today they will be buying those same contracts back tomorrow. It’s a wash.
Big Al, have you been drinking moonshine? (Just kidding lol)
Are you really expecting an imminent 30% correction? Don’t be suckered in by all the conspiracy nonsense.
Wouldn’t want to see you blow your account.
Chris puplava makes the valid point that 98% of stocks making new 52 week lows are concentrated in just three sectors with energy accounting for 60% of it.
http://www.financialsense.com/contributors/chris-puplava/bear-market-worries-too-early
Hi again, Karl,
I am not necessarily expecting a 30% correction, but if this things goes vertical (down) my investment will be really cheap insurance!
CFS, you give the fed and treasury too much credit. They couldn’t find their backsides with the lights switched. Organs of governments would fail miserably in the fast moving cut and thrust of everyday financial markets.
Karl………..problem is the fed and treasury have to much CREDIT,…..like OVER IN DEBT
🙂
Karl345345, talk to Ms Malmgren, who was at one time a member of the Group.
Or Google Pippa Malmgren’s writings.
(she’s a smart cookie.)
You Guys have probably heard about the “accidental spill” out of the Gold King Mine near Silverton, Colorado caused by the EPA.
Here is the true story……
The Gold King Mine was abandoned in the 1920s.
It has been there causing no reported problem ever since.
When it rains water seeps in and comes out eventually.
Some clueless idiot at the EPA decided water should not be allowed to exit the mine.
So it was decided to plug the mine exits.
Specifically the Red and Bonita portals, despite being repeatedly warned by local geologists that it was not a good idea.
Warnings were both written and at a meeting with the local EPA Manager, Mr Hessmark, on June 23, 2013. Nevertheless the portals were plugged.
One retired professional geologist (47 years experience), David Taylor of Farmington even wrote to the local newspaper, Silverton Standard and Miner, a letter which was published on July 30, 2015. (A week before the spill)
In the letter he essentially accused the EPA of deliberately being about to cause a major spill so they could establish a superfund site and get to condemn any future opportunity of mining in the area. The Letter was published under the title ” EPA Planning a Superfund Blitzkrieg”, and predicted essentially what would happen.
With no exit for the water seeping into the mine, pressure built up until it burst through a weak spot and then all the water above that spot rushed out into concrete creek ; draining into the Animus River, then the San Juan river and into the Colorado.
The actual spill was not due to some “accidental bumping into a tailing dam wall, but due to the stupid, or intentional plugging of the portals, after being warned it was a mistake.
THANKS………..figures Govt at work………most likely the EPA agents in charge of going and looking at the site, were to busy on the porn sites……….
CFS -Thanks for posting that explanation of government failing once again. That would never be tolerated in the private sector, and their agenda is a little concerning.
Just goes to show how immensely UNqualified the average government bureaucrat is
This Sunday on Fox News, John Stossel is doing a piece on how the EPA shut down the Pebble deposit before the environmental studies were submitted.
Wether you agree that the mine should proceed or not,The EPA clearly overstepped their authority.
https://www.youtube.com/watch?v=Z5OA7I9yRf8
Our Fabulous leader is an ideologue. He is funded by environmentalists. He hates mining, especially coal mining. He hates America. He appoints heads of Government Agencies. He does not believe in the Constitution and rule of law, except when it suits him. What should one expect?
Thank goodness for term limitations.
Agreed CFS.
The more one digs into the dealings of the EPA/Obama Administration the worse it gets.
The pebble deposit located in Western Alaska is the 2nd largest Gold,Copper,Moly deposit on the planet.
With peak metal prices,the reserve estimate was close to a trillion dollars.
There will be a time when it is approved…..just not in my lifetime.
This has been an interesting story — especially now that Frank Giustra has gotten involved. Could be a great opportunity one day.
The mineralized belt that extends from Fairbanks to the Aleutians will provide us with resources for many years to come.The question is how to develop.
Millrock,V.MRO is drilling in Chignik,Alaska as we speek. It will be interesting to see their core results.
Come on and hurry up and crash!