More commentary on our outlooks for life
Doc follows up on our earlier conversation discussing our outlooks on life. The balance between being too positive or too negative and learning from everyone around us is crucial.
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ditto spanky………..
Cohn the con
There will be violence in America by the people, against those who have mismanaged, frauded and stolen our finacial future and security.
If Trump is a fraud, as seems likely, or if he is neutralized by the ruling mafia, then I’m afraid you’re right. The Fourth Turning.
When discussing faith hopefully with a name like Postma Doc is referring to good ole Dutch Reformed or Dutch Christian Reformed;)
Big Dutch,
Is there really that much of a difference?
Big Dutch; you nailed it. Good ole Calvinistic Christian Reformed. Doc.
White Christmas is a racist holiday:
https://www.youtube.com/watch?v=_gFgmXe3q1s&t=196s
Let’s all sing along, you know the tune:
I’m dreaming of a multi-colored winter holiday
Thanks for the laugh, Wayne!
DITTO DOC…………..
The Trump phenomenon:
http://michaelpramirez.com/metamorphosis.html
So your a Calvinist?
Why bother to analysis the charts then, it’s all predetermined.
Just joking, somewhat
James, that’s pretty good—nothing like some predestination.
Predetermination may be the reason analyzing charts has any value.
In the spirit of the season I will extend an olive brain to the swamp creatures, even RM
JTL
That’s because you have an “olive brain” and that may be the cause of all your problems. It’s a rare but serious condition.
It was the best of times, it was the worst of times…wrong story.
Marley was dead, to begin with.
Government opts to become a major stake holder in Monte Paschi.
QED: Banks don’t die.
by 2025 they are projecting under 25% of all transactions will be non-digital -cashless. Digital transactions (other than bitcoin and the like) require banking, while bank buildings may go, banks will remain.
Wherever you go, there you are.
I read that quote in an Echart Tolle book. I think it was “Stillness Speaks.”
Imagine the robbery of the future…..
Gun in one hand , card reader in the other.
Potential to lose not only what is in your wallet, but your entire bank account.
But don’t worry, the governments will say going cashless will cut down crime.
They’ll limit the amount that can be withdrawn, for our protection. ‘Cuz they really care for us 😉
I hope gold is predetermined to go to $3000 this year.
If I knew I would place a bet with my bookie.
Yes, Doc is right. Man is a flawed creature.
My problem is that my expectation for my fellow man and woman is too high. I must temper my unrealistic expectations about people and life in general.
I once got a fortune cookie and the fortune said, “Expect nothing and you will never be disappointed.”
Eb, from my background and scriptures, the teachings were how man is innately depraved. Nothing I’ve seen over the years have contradicted that dictum. The liberal would probably disagree and say man is innately good—however, when it comes down to basics, it’s the rare situation where man will give up his self interest in a precarious situation he is placed in.
Thats funny James, you actually might get better odds than a phyzz PM payoff.
We are moving to a cashless society because intelligent machines which we have created and are replacing humans don’t need cash. In the near future they won’t require banks either, banks are only around to serve human needs. DT
Italian Bank Monte Paschi Fails To Get $5.2B Investment
By COLLEEN BARRY – Associated Press – 15 minutes ago
MILAN (AP) — Italian bank Monte dei Paschi di Siena edged closer to a state bailout late Thursday after announcing that its capital raising efforts failed to net the 5 billion euros ($5.2 billion) needed to stay afloat.
Italy’s third-largest lender said that it hadn’t secured a key anchor investor to pump money in and that its efforts to swap debt for equity had netted only 2.45 billion euros.
Parliament has approved 20 billion euros to shore up Italy’s troubled banks, with Monte Paschi by far the most vulnerable after it was listed as the worst-performer in this summer’s European Union stress test.
The bank’s troubles come amid broader concerns over Italy’s banking system, which is weighed down by some 360 billion euros in bad loans. Monte Pashci’s share price was up modestly on hopes of a bailout.
“After misjudgment and unnecessary delay, a rescue scheme addressing the long saga of Italian banks is in the making,” said Lorenzo Codogno, an analyst for the consultancy LC Macro Advisors Limited. “Italian banks will continue their gradual healing process for months, if not years, but what is going to happen in the next few days is to be considered a turning point.”
Any state intervention would imply a hit to bondholders under the EU’s burden-sharing requirement, but analysts said it is possible Italy’s government could inject funds without triggering a so-called bail-in if the shortfall was contained. Such an arrangement would be subject to an agreement with the EU’s executive Commission.
The consumer advocate organization Codacons estimated the Italian bailout fund could cost each Italian family 833 euros.
WASHINGTON (AP) — The Justice Department on Thursday sued Barclays Bank PLC and several of its U.S. affiliates over the sale of risky mortgage-backed securities.
The civil complaint, filed in federal court in Brooklyn, New York, seeks to recover civil penalties for fraud from the British bank.
It accuses the bank and its employees of misrepresenting the quality of the loans they sold to tens of thousands of investors between 2005 and 2007, in the run-up to the country’s financial meltdown. The investors, which included credit unions, pension plans and university endowments, lost billions of dollars, the Justice Department said.
The bank falsely assured investors that it had excluded “unacceptable” loans, and that it had conducted due diligence on the loan pools that it had securitized, according to the complaint.
Two former Barclays executives — a banker and a trader — were named as individual defendants in the lawsuit and accused of playing important roles in the alleged fraud.
“As alleged in this complaint, Barclays jeopardized billions of dollars of wealth through practices that were plainly irresponsible and dishonest,” Attorney General Loretta Lynch said in a statement.
In a statement, Barclays said it denied the allegations in the lawsuit and called the claims in it “disconnected from the facts.”
“We have an obligation to our shareholders, customers, clients, and employees to defend ourselves against unreasonable allegations and demands,” the statement said. The bank will seek to have the complaint dismissed.
My Comment…..
That’s interesting, because I thought Barclays had settled this issue by paying a fine, while not admitting guilt.
Even more interesting is that many US banks were far more culpable, and the rating agencies were most culpable, for without the high AAA ratings, pension funds would not have invest in the mortgage-backed securities.
Man has not always been flawed. Adam and Eve were without sin until they disobeyed the Word of God and received the wages of sin which is death. Nor will some men always be flawed. Those who believe on Jesus Christ (those whom He has chosen to be objects of His everlasting mercy) will be made perfect on the Last Day. The rest spend eternity in Hell. The Good News is that God has made a Way to escape the torments of Hell we all so richly deserve. That Way is Jesus.
Amen
God is love Wayne. We need to always be very careful not to assume we know those who are saved from the unsaved. Don’t get me wrong the Gospel message remains timeless, but oft-times we can use words that do not always convey the inner message of an eternal and all encompassing love. Best wishes, A
God is love. He loves righteousness. Therefore, he hates sin (unrighteousness). And, of course, He says so very plainly in the scriptures. We need to be careful to line up our words with God’s Word, not just with whatever sounds good. Also, if the “inner message” as you call it doesn’t line up with the outer message (I am using your language), the scriptures are of no use to us, really, and we can make up whatever we want and say it is the Word of God.
1 Corinthians 12: 1-14 might be in order here
One of the things that has made me a-religious, though not an atheist:
So many religions, especially the Abrahamic religions, saying ‘We’re right, we’re going to heaven, everyone else is going to burn in Hell for eternity’. So many of the world’s problems have come from this kind of intolerance.
YES HG!
Being a theistic “a-religious” type means you don’t tolerate religion. But I suppose your kind of intolerance doesn’t cause any of the world’s problems. Logic is a bitch.
Deutsche Bank Settles With DOJ: Will Pay $3.1 Billion Civil Penalty
With analyst expectations/hopes in the $2 to $5 billion range (against the initial $14 billion fine), Deutsche Bank said it has reached settlement with US authorities to pay a $3.1 billion civil penalty (and provide $4.1bn in releief to consumers). Removing considerable uncertainty about Deutsche’s capital position, one wonders how much this remarkably low-ball settlement had to do with Donald Trump’s current loan re-negotiations with the “world’s most systemically dangerous bank.”
http://www.zerohedge.com/news/2016-12-22/deutsche-bank-settles-doj-will-pay-31-billion-civil-penalty
Tennessee Man Gets $75 Check To “Restart His Life” After Being Wrongfully Imprisoned For 31 Years
In October 1977, a Memphis, Tennessee woman was raped in her home by two intruders. The woman subsequently identified one of the perpetrators as her neighbor, 22 year old Lawrence McKinney. One year later, McKinney was convicted on rape and burglary charges and sentenced to 115 years in prison.
The only problem is that he didn’t do it.
Very rich comments Doc, Cory and Al.
Unlike politics and markets, I agree with everything that was said.
Merry Christmas!!
Americas Silver Corporation Announces Share Consolidation Towards U.S. Exchange Listing
(Marketwired – Dec. 22, 2016) – Americas Silver Corporation (TSX:USA)(OTCQX:USAPF)
[The rollback in Americas Silver to list on the NYSE is upon us….. I’m very enthusiastic moving forward that this will attract a much wider audience and more liquidity in one of the best turn-around stories in the Silver space]
“Since early in the second quarter of 2016, Americas Silver has been studying the benefits of a listing on the Exchange. A number of the Company’s silver-producing peers are either dual-listed on U.S. and Canadian stock exchanges, or solely-listed in the U.S. Such companies are shown to have a greater average daily trading volume, a greater number of U.S. retail investors, a significantly deeper pool of capital, and on average higher valuations, which collectively results in higher trading multiples and share prices when compared to their peers listed solely on a Canadian stock exchange.”
“The Company’s Board has selected a Share Consolidation ratio of one post-consolidation common share for each 12 pre-consolidation common shares resulting in approximately 40,000,000 (39,540,409) post-consolidation common shares outstanding. This ratio was selected to allow for a buffer over the required initial share price for the Exchange in light of recent commodity price volatility. The effective date of the Share Consolidation is December 21, 2016 and post-consolidation common shares are expected to commence trading on the Toronto Stock Exchange (“TSX”) on December 28, 2016.”
I have supported this stock before and I’m holding a modest amount but am done buying it. Uranium may be the new “up” commodity.
I have more shares than ever and bought more this morning at 27 cents ($3.24, split adjusted). The NYSE listing, tight float, and higher share price are all going to be very good for shareholders and the timing is perfect.
Even most bulls don’t seem to believe that we are in for a raging bull market and that is a good thing.
I have enough shares in ratio to my entire portfolio but think stock splits can backfire also. I will see where their share price is in a few weeks. Good luck to them. (;-)
Share consolidations can definitely be a bad thing but I don’t view this one that way at all. We’ll know soon enough if I am wrong.
Thanks for your input Matthew. The only way I can explain the price action in USA to myself is Mister Margin has come a callin’.
From the August peak to the November trough, it fell 53%. That is actually a better performance than most silver miners regardless of size.
In addition, it might have held up better if the 105,525,000 shares that were issued in June didn’t come free trading in October when shares were already down 30% or more. Those new shareholders saw the chance to get their money back at roughly the price they paid if they acted quickly. Holding warrants gave them good reason to act first and think later.
The company looks MUCH better now that it’s cashed-up, turning profitable, and all that new paper has changed hands.
All that zinc is going to be very good for USA and U.S. investors will soon be able to buy it with confidence.
http://www.kitcometals.com/charts/zinc_historical_large.html#5years
Thanks to the share consolidation, it won’t be a penny stock for too much longer, and that will bring in a lot investors that won’t touch penny stocks. (Most investors don’t seem to know that penny stocks are called penny stocks, not because they trade for pennies, but because they trade in one-cent increments. Until less than 20 years ago, stocks over $5 traded in increments of one-eighth of a dollar. So, based on that, every stock is a penny stock today – but not to the SEC…
http://ww2.cfo.com/risk-compliance/2003/12/how-low-is-too-low/
Great discussion on (USA) (USAPF – soon to be a new NYSE ticker in Januaray).
Yep, 12 to 1 split. Generally after a reverse split there a few days of wonky trading where some investors not paying attention get caught in the split, get pissed, and bail. Others are waiting for the split to be completed, and as a result start buying.
However, I completely agree with the points Matthew made in this thread, and they are in harmony with the very reasons the company has elected to do this rollup in the first place….. They believe that tapping into US investors and institutions with a higher share price (above $2) and listing on the NYSE will bring more awareness, more US investors, and much more liquidity. Agreed.
The other thing to consider, is that it is probably that Americas Silver will be featured much more prominently with a larger weighting in the Silver ETFs as the bull market in metals progresses over the next few years (adding even more liquidity).
Unlike reverse splits due to financial woes (which the companies and investors don’t ever want to see), this reverse split is to make the companies shares more accessible to the masses, and that is a great thing in my opinion. I have a number of US investor pals that only invest in US listed companies and won’t touch OTC listings. Canadians forget sometimes that not everyone can access their exchanges, and having access to the investor base in America with an NYSE listing is a big (but admittedly expensive and complicated) deal.
I see their shares going up 5-10 times more over the next few years and the company finally earning the respect it deserves. After spending the last few years reducing costs, trimming down the personnel, improving recovery rates, increasing the exploration focus, and improving their visibility they’ll become more of a household name.
Ever Upward!
Base Metals recover from annus horribilis to close in positive territory
23rd December, 2016 – by Kathleen Retourne
“Zinc was the standout performer this year – at one point it attempted to take out the $3,000 per tonne level. While it failed to breach this, a low-high range of more than $1,500 per tonne is impressive.
Nickel, which had been the worst performer in 2015, shedding more than 40% of its value, has been far stronger this year, with a year-to-date increase of 24%.
Even copper, which had trudged along in uninspiring trading, surprised – it surged higher in November, posting daily record volumes on the LME’s electronic trading platform.”
Excelsior:
Thanks for the posting on USAPF. Can you relate any info on GPL. Perhaps you have noticed they have had and continue to run higher this week. I’m aware of their Peruvian purchase. Actually traded out yesterday at the high. Looks like I was a bit early……..Thanks for anything you may submit on this. Merry Christmas.
Yes, the big news as you’re aware is the Peru acquisition. I believe that with Canadian tax loss selling ending today, that many value investors are repositioning in beaten down mining stocks with the proceeds raised from selling their dogs. A number of Silver and Gold and Base Metal projects are getting a bid this week.
(For the benefit of investors that missed this news)
Great Panther Silver to Acquire Coricancha Polymetallic Mine in Peru
Dec. 19, 2016 /CNW/ – GREAT PANTHER SILVER LIMITED (TSX: GPR; NYSE MKT: GPL)
Silverdollar – I feel bad that I didn’t have much new information to add around the Great Panther news…. but in the spirit of the holidays…. Here’s a gift from Santa 😉
Great Panther Silver LTD. – Robert A. Archer
Swiss Mining Institute (23/11/16) : VIDEO Corporate Slide Presentation
Here’s another interesting update from Santacruz Silver. In a way, I’m kinda glad they didn’t sell that development project, and it appears Hochschild is working with them on the debt issue.
_______________________________________________________________________
Santacruz Silver Terminates San Felipe Project Sale
Dec. 23, 2016 /CNW/ – Santacruz Silver Mining Ltd. (TSX.V:SCZ)
“The Company is in discussions with Minera Hochschild Mexico, S.A. de C.V. the underlying property vendor with respect to the continued deferral of the payment terms for the San Felipe Project….”
For investors interested in learning more about GOLD Mining and West Africa and (TGZ) (TGCDF) Teranga Gold, then this was a good VIDEO Corporate Presentation
Swiss Mining Institue (23/11/16) :
Richard Young – Teranga Gold CORP
Swiss Mining Institute (23/11/16) :
Erich Meier – Keynote Speaker
#VIDEO #Gold #CentralBanks #Currencies
(SAND) (SSL) Sandstorm Gold LTD. –
David Awram – Swiss Mining Institute (23/11/16):
#Streaming #Royalties #GOLD #SILVER #BaseMetals #Diamonds
(SBR) (SVBRF) Silver Bear Resources Inc. – Robin Birchall
Swiss Mining Institute (23/11/16) VIDEO Corporate Presentation:
https://www.marketslant.com/articles/why-lbma-just-beginning
Let’s hope the core of the Glass-Steagall comes back stronger than ever, revamped for the 21st century.
But let’s not forget that the system is still rigged, and the next big manipulation is undoubtedly happening right now, enriching the few over the rest of us.
I’m long JNUG, not playing individual stocks. But if I were, I would go long ASM here. Interesting chart.
http://stockcharts.com/h-sc/ui?s=ASM&p=D&st=2005-02-10&en=today&id=p93844529080&a=495377176
+1
Deutsche, Credit Suisse To Compensate Consumers Post-Crisis
By DAVID McHUGH and JAMEY KEATEN – Associated Press – 7 minutes ago
FRANKFURT, Germany (AP) — Nine years after the collapse of the U.S. housing market sent shockwaves through the global economy, two European banks have agreed to offer American homeowners and borrowers billions of dollars’ worth of help under a settlement related to the sale of risky securities that helped spark the 2008 crisis.
Deutsche Bank and Credit Suisse said Friday they agreed to the tentative settlements with the U.S. Justice Department over their dealings in mortgage-backed bonds.
the fine is a joke………they have already made all the money to pay the fine……..THEY BOARD SHOULD ALL BE IN JAIL.
THEY to THE
The S&L crisis of the 80’s……………2000 people went to jail
Since, Obamy has let out 1300 drug dealers ……….there is plenty of room for bankers
THE BOARD SHOULD ALL BE IN JAIL
Absolutely. Until white collar criminals start doing hard time, and losing all their ill-gotten gains and more, nothing will change.
Wack…………platinum…$890
Ross Beaty Discusses How to Be Successful in Mining Investing
Posted By Smallcappower – December 15, 2016
“It’s not that hard,” said Pan American Silver founder Ross Beaty
http://smallcappower.com/videos/expert-videos/ross-beaty-discusses-151216/
Here’s an update from another Ross Beatty company – Alterra Power (AXY)(MGMXF)
Alterra Power Announces Amendment of Power Purchase Agreement for Michigan Solar Project
Dec. 22, 2016 /CNW/ – Alterra Power Corp. (TSX: AXY)
Best of the season to almost all.
If you bought anyone’s gold buy call Lately or the DOWs going to crash the last 2 years you got your teeth kicked in! I warned!
I dumped all my loot into REAL estate as at least I can sleep at night and collect a couple $100k DIV cheque annually.
HEEEEERRRS Martin!
https://www.armstrongeconomics.com/markets-by-sector/precious-metals/gold/gold-headed-lower-under-1000-into-the-abyss/
Then listen to Hoye…..King dollar kills gold.
and as i said for the last couple years Bob Moriarty is an absolute one trick pony gold bug nutcase. Got that correct too.
Thank you for editorial no. 3 today. I have always respected Doc’s comments each day and looked forwarded to his analysis. Now I know why because we share the same outlook of life that we are truly blessed by our Lord God and our savior Jesus Christ. Thank you guys for a great editorial and than you, Doc, for sharing your faith and why we are realists. Merry Christmas and Happy New Trading Year.
Bill likes to do two things that cost him a lot of money in the past but he never learns from his mistake. He won’t learn to take a profit and he wants to believe in prophets.
Martin Armstrong Dec 2011
This is a global MELTDOWN in sovereign debt and public debt at the municipal, state, and federal levels. UNDER NO CIRCUMSTANCES BUY LONG-TERM DEBT FROM ANY OF THESE PUBLIC LEVLES OF GOVERNMENT! You WILL lose everything you invest PERIOD.
There are those still putting out the nonsense that gold will collapse because the economy will turn-around…
Gold should back off and retest the support… We should see gold at $5,000 by the end of 2015.
You must have seen my bank account lol
The difference between you and me is you started a web site 15 years ago (how old were you then?) as you needed an income. When I was 40 I didnt need an incime because the properties I owned already retired myself.
Maybe you should school Warn Buffet.
Bob you had no clue to the durration of this gold collapse.
Your right about 25% of the time. Just like your latest buy call.
Bill:
25% is a lot better than zero
On December 24, 2016 at 7:02 am,
Robert Moriarty says:
At the very least, it’s a tradable low for gold better than last year.
http://investmentwatchblog.com/is-gold-setting-up-for-a-rally/
How long did it take for that call to be correct?
Nah, how about we agree that the Fed and banks have screwed over the US. Heads they win, tails you bail them out. That shyster Cohn is going to sell his GS stock for $210 million tax free. This is an investment back that should have gone to $0 back in ’08. And yet no one says a word about this wholesale looting.
Go long pitchforks, lamp posts and guillotenes.