US Markets, Gold and the Jackson Hole impact
LPG joins Al and Cory today for the market wrap. They all discuss the subtle movements in the US markets and the comeback in gold today after being sold off during the Asian trading hours. Of course there were some comments made on what might come out of the Jack Hole meeting this week.
Click download link to listen on this device: Download Show
Bob UK,
Most welcome, and hope you’re well.
Best to you,
LPG
No rate hike,for sure. Presidential election for sure, and Yellin is screaming to keep her job.
First Mining Finance Enters Into Sales Agreement With BRS Ventures for Three Mexican Silver Assets
VANCOUVER, BRITISH COLUMBIA–(Marketwired – Aug. 22, 2016)
IF YOU are NOT into FFMGF as a long term mining stock play I DO NOt KNOW WHERE YOUR HEAD IS AT. Keith Neumeyer is about as close as you can get to a SURE BET in this business……track record for building BILLION dollar businesses and he PROTECTS THE SHAREHOLDERS….a 10k investment turned into seven figures….last go around….if the past is prologue to the future (Rick Rule) than you better really look at this play….
Not investment advice….but I do own THOUSANDS OF SHARES of FFMGF at a share cost of .48 cents a share…not bad…not bad at all.,,,:))…Just saying I put my money where my mouth is!!
Nice SDMARC !
there has been a leap in short interest for FFMGF:
Date Short Interest % Change Avg. Daily Share Volume Days to Cover Split New Issue
Jul 29, 2016 1,431,076 255.13 2,732,993 1.00 No No
Jul 15, 2016 402,972 70.26 3,753,897 1.00 No No
Jun 30, 2016 236,684 11.18 1,292,287 1.00 No No
Jun 15, 2016 212,882 -18.47 1,033,872 1.00 No No
May 31, 2016 261,116 91.28 1,060,694 1.00 No No
May 13, 2016 136,511 33.00 1,357,037 1.00 No No
Apr 29, 2016 102,640 -21.95 1,897,952 1.00 No No
Apr 14, 2016 131,504 -25.90 1,299,358 1.00 No No
Mar 31, 2016 177,476 20.28 475,907 1.00 No No
Mar 15, 2016 147,553 -29.38 518,392 1.00 No No
Sorry if this table distorts in posting.
Thanks for this Shad.
Best as always,
LPG
Right on. I figured there were some First Mining Finance fans that may like the news.
Too Much Copper Drops Price to Six-Week Low
Frik Els | 2 minutes ago
OFFICIAL STATEMENT: The U.S. Mint Has NOT STOPPED Production Of Silver Eagles
by SRSrocco on August 22, 2016
According to the public affairs person at the U.S. Mint, the rumor that Silver Eagle production was halted due to lack of demand, is not true. I have been receiving lots of emails on this issue, so I decided to pick up the phone and call Michael White, public affairs person at the U.S. Mint.
What a hoot..Obama probably got his executive orders mixed up..
CME Group urgently barred someone for 60 days for spoofing. That will fix it!
CME Group urgently suspends trader for spoofing
CME Group Inc urgently suspended a futures trader from its markets for spoofing on Monday, the exchange operator said, the latest regulatory action over the manipulative trading practice.
The company, which owns Comex, the Chicago Mercantile Exchange and other markets, barred Andrey Sakharov from trading for 60 days and could extend his ban, according to a disciplinary notice.
Contact information for Sakharov could not immediately be found.
CME suspended him based on “a good faith determination that there are substantial reasons to believe that such immediate action is necessary to protect the best interests of the exchange,” the disciplinary notice said.
On multiple dates starting last month, Sakharov entered electronic orders in CME’s gold and natural gas markets that he did not intend to trade, the disciplinary notice said.
http://www.reuters.com/article/cme-group-trader-spoofing-idUSL1N1B31N4
The last sentence in this article is the most important.
Hey LPG, in late November 2018 I’ll be in Marseille visiting friends. We should get together! I’m an American fan of yours!!
OOPS! Sorry. Late November 2017. Getting my years messed up!
Johnnygeneric,
Thank you for the note re: your trip.
Just send an email to Big Al/Cory beforehand and they will transmit: if i am in the hood, i’ll be delighted to meet.
Best to you,
LPG
The loonie is holding up well. I have a feeling that it, and commodities in general, will catch a bid when the Fed is done in Jackson (though there are good technical reasons to be cautious here).
Matthew,
Fwiw, I have exactly the same “double” feeling.
Best as always,
LPG
GDXJ:GDX (juniors priced in seniors):
This bull market has a long way to go.
The dollar looks like it is going to fall for many more weeks:
The monthly chart looks bad and is getting worse:
Another example of corruption…….
Hedge Funds have an illogical and unnecessary tax break which allows short term capital gains to be taxed as long term capital gains.
Mr. Simons’ Rennaissance Technologies has begun pouring millions of dollars into Hillary Clinton‘s campaign, as the hedge fund has donated over $2 million to Ms. Clinton so far this election cycle. Euclidean Capital—also owned by Mr. Simons—has given the Clinton campaign over $7 million in contributions, and the figures are likely to increase as Ms. Clinton slowly transitions her attention from Democratic Primary opponent Bernie Sanders to the presumptive Republican presidential nominee, Donald Trump. Renaissance Technologies was called out by Senator John McCain in 2014 for evading nearly $6 billion in taxes by disguising day-to-day investments as long term investments, and in 2015, Bloomberg ran an article describing how the firm lobbied the U.S. Labor Department for special tax evading privileges.
Pretty good return on investment……….Escape $ 4 Billion in taxes, with a political contribution of s few tens of millions.
It is this kind of corruption that will destroy the US economy.
Paying for Tax Breaks, Influence, Access…….
Politico has put together a list of major media organizations that have made “charitable contributions” to the Clinton Foundation over the past several years. As you can see, this list represents almost every major news organization, and the amounts of money that we are talking about are very large…
$1,000,000-$5,000,000
Carlos Slim
Chairman & CEO of Telmex, largest New York Times shareholder
James Murdoch
Chief Operating Officer of 21st Century Fox
Newsmax Media
Florida-based conservative media network
Thomson Reuters
Owner of the Reuters news service
$500,000-$1,000,000
News Corporation Foundation
Philanthropic arm of former Fox News parent company
$250,000-$500,000
Houghton Mifflin Harcourt
Publisher
Richard Mellon Scaife
Owner of Pittsburgh Tribune-Review
$100,000-$250,000
Abigail Disney
Documentary filmmaker
Bloomberg Philanthropies
Howard Stringer
Former CBS, CBS News and Sony executive
Intermountain West Communications Company
Local television affiliate owner (formerly Sunbelt Communications)
$50,000-$100,000
Bloomberg L.P.
Discovery Communications Inc.
George Stephanopoulos
ABC News chief anchor and chief political correspondent
Mort Zuckerman
Owner of New York Daily News and U.S. News & World Report
Time Warner Inc.
Owner of CNN parent company Turner Broadcasting
$25,000-$50,000
AOL
HBO
Hollywood Foreign Press Association
Presenters of the Golden Globe Awards
Viacom
$10,000-$25,000
Knight Foundation
Non-profit foundation dedicated to supporting journalism
Public Radio International
Turner Broadcasting
Parent company of CNN
$5,000-$10,000
Comcast
Parent company of NBC Universal
NBC Universal
Parent company of NBC News, MSNBC and CNBC
Public Broadcasting Service
One would not expect any of the above organizations to be UNBIASED IN THEIR REPORTING, if they are donating to a candidate. Would You?
Not only that,take it one step further and look who is the major shareholders of these news organizations.
My line now is turn off your T.V,get informed.
That being said,who knows what is to come when the U.N gets involved with the net.
This is a good time to favor silver over gold…
SLV:GLD
http://schrts.co/VBiP0Y
The USDX peaked last November when priced in gold and looks pitiful:
UUP going down:
OFF TOPIC.
Guccifer reports that when he hacked Hillary’s server there were about a dozen foreign internet addresses that were already logged in to her server.
One has to wonder whether her server was used to deliver sensitive (CLASSIFIED) information was fed by her server deliberately to e.g. China.
Certainly major contributions were made to the Clinton Foundation in a time proximate to the hack.
Clearly she could be jsiled for LIFE, for her illegal use of a supposedly charitable foundation to ESCAPE TAXATION.
As I read US law, a charity can only use 50% of its donations for operational overhead.
The Clinton Foundation appears to have only used at MOST 6% of its income for actual charitable work! (Even if you ignore failure of filing appropriate paperwork to allow those charitable expenditures)
She could spend the rest of her life in jail for tax evasion alone.
Isn’t it great to have connections with the power establishment?
The yen remains strong – can Janet’s yellin’ cause it any pain?
Democratic run cities are starting to shut down independent media.
e.g. Philadelphia is charging $600 fee for any resident running a blog in that city.
this is the thin end of the wedge to shut down freedom of speech.
They will fail. Even the dumbest sheep will start to figure out what their government is all about.
CORRECTION.
I was reading a blogger from Philadelphia complaining about having to pay $600, but that was for two separate blogs.
http://mashable.com/2010/08/23/philadelphia-blogger-business-tax/#Q7v_HXEn7Oqz
The fee is $50 per year or $300 lifetime fee per blog.
One has to wonder how long it will be before a state picks up the method of taxation, however.
Certain jurisdictions in Canada are now using “inspection fees” to plunder its citizens.
e.g. A $10,0000 “inspection fee” will be charged to search for marijuana on a property.
This fee is payable EVEN IF NO MARIJUANA IS FOUND.
Priced in Impact Silver, Barrick Gold crashed 77% in six months. That’s how a bull market starts in this sector – risk beats safety.
Nice chart Mathew.
You are so right!
Matthew!! Great observation..:)))
Now I’m betting on the same kind of move from ABX priced in SGN:
Makes sense to me.
http://www.zerohedge.com/news/2016-08-23/clsa-bank-japan-has-nationalized-japanese-stock-market
Maybe I’m really stupid, but as I see it, the only end to this insanity is that the Japanese Government owns all shares in all companies!
How far will the US follow?
LPG – I just want to say thank you for your long message/post to me a week ago about buying gold/silver miners.
I very much appreciated it.
Right, now to listen to the wrap.