Weekend Show – Sat 3 Jun, 2017

Key News Of The Week For Investors

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This week there was a lot of news and data points that the equity markets ignored but we did not. Job numbers, the Beige Book, Trump backing out the Paris Climate Accord all were discussed on our site over the week and on this weekend’s show.

We hope you all enjoy the show and have a great weekend. Please email me if there are any companies, guests, or topics that your would like to see on our show. Fleck[at]kereport.com

  • Segment 1: We kick off the show with Chris Martenson and a look at the ECB and BOJ balance sheets that are now larger than the Fed’s.
  • Segment 2: Trader Vic provides his opinion of Trump pulling out of the Paris Climate Accord and what it means for the markets.
  • Segment 3: Fund Manager Dana Lyons shares his thoughts about the US markets and long-term downtrend line that GLD is hitting.
  • Segment 4: John Kaiser recaps the recent Cambridge House show and shares some companies that have his attention.
  • Segment 5: Chris Temple joins us to discuss the developing story of Trump and China. Be sure to listen to the continuation of our discussion on the weekend special posted on Saturday.
  • Segment 6: Big Al and Cory discuss helping veterans with Dr. John Huber founder of Main Street Mental Health. Click here to visit his organization’s website.
  • Segment 7: Ken Abramowitz founder of Savethewest.com discusses why Christians are the most persecuted people in the world.
  • Segment 8: We discuss the actions that the Coalition for a Prosperous America are taking in the area of U.S. trade with Michael Stumo.

Click download link to listen on this device: Download Show

Click download link to listen on this device: Download Show

Click download link to listen on this device: Download Show

Click download link to listen on this device: Download Show

Click download link to listen on this device: Download Show

Click download link to listen on this device: Download Show

Click download link to listen on this device: Download Show

Click download link to listen on this device: Download Show

Chris MartensonVictor SperandeoDana LyonsJohn KaiserChris TempleJohn Huber
Ken AbramowitzAl KorelinCory FleckMichael Stumo

  1. On June 3, 2017 at 3:22 am,
    Markedtofuture says:

    CNN Refuses to Confess Its Bias – Armstrong

    It is very interesting that CNN has fallen from the number one news station to dead last. They bias is so outrageous and they have ceased being a valid news provider crossing over into yellow journalism to the point theyr are now desperately trying to take down trump perhaps just to get their ratings back.

    According to the ratings, CNN has basically committed suicide. They have lost credibility and indeed become fake news.


    • On June 3, 2017 at 9:40 am,
      Big Al says:

      At least the public is thinking.

  2. On June 3, 2017 at 3:25 am,
    Skeeta says:

    Thanks as always for the weekend show fella’s.
    Much appreciated.

    • On June 3, 2017 at 9:41 am,
      Big Al says:

      Thank you, Skeeta.

  3. On June 3, 2017 at 3:32 am,
    Markedtofuture says:

    Media Equality Project has groundswell of support. Co-founders got tired of main stream media’s bias to spread fake news to the general public. They started a website to go after them.

    Coming attractions: Media Equality Project is just warming up for the Media Equality Project, Rachel Maddow is only the beginning of our effort to expose the media’s double-standard.


    • On June 3, 2017 at 9:42 am,
      Big Al says:

      Finally, thank you Markedtofuture.

  4. On June 3, 2017 at 3:39 am,
    Excelsior says:

    Thanks Big Al, Cory, and to all the contributors for another weekend show.

    Much appreciated.

    • On June 3, 2017 at 9:42 am,
      Big Al says:

      Our pleasure, Excelsior!

  5. On June 3, 2017 at 3:53 am,
    Markedtofuture says:

    The Impeachment of Trump – Armstrong

    Next week for $35 we will be issuing a very special report that goes through the legal and illegal way they can move against Trump for Impeachment. This report is also providing the political forecasts. This is a very important report and we are pricing this for the general public because of its importance to many who are not traders.

    This will go on sale next week.


    • On June 3, 2017 at 8:49 am,
      OOTB Jerry says:

      Trump is not going to get impeached……save your $35

      • On June 3, 2017 at 8:52 am,
        OOTB Jerry says:

        Comey is going to jail……..

        • On June 3, 2017 at 8:54 am,
          OOTB Jerry says:

          Along with a few others from the Obama administration…..

          • On June 3, 2017 at 9:44 am,
            Big Al says:

            I would bet against that, OOTB

          • On June 3, 2017 at 11:22 am,
            OOTB Jerry says:

            If, Trump does nothing else, besides puts some people behind bars like he said,, that will make many of his supporters happy for reelection,,,as he said.””PUT HER IN JAIL”., Trump has a mind like an elephant,,,, remember , he is for Law and Order…Sessions, is going head hunting, already some lower level Obama people going to jail…..Pedogate is high on the priority list for some…..It, took 11 yrs. to put Sandusky’s associated people behind bars, The head of the School of Penn State going to jail finally, part of the law and order crowd getting the job done , after the Obama administration side stepped the issue for years……………..JMO

          • On June 3, 2017 at 11:30 am,
            OOTB Jerry says:

            We still have to hear from the SETH RICH investigation…..DNC Wasserman Shultz is not looking to good, Barbara Brazil might need to get an attorney………jmo

          • On June 4, 2017 at 9:20 am,
            OOTB Jerry says:

            Clif High has some interesting comments on the DNC and their existence ….listen to usawatchdog (cfs has connection below)

        • On June 3, 2017 at 5:41 pm,
          Markedtofuture says:

          Jerry, how many folks can delete 30K+ emails from a private server with classified government info or copy them to a perv’s laptop? Carlson busts elites about Global warming deeds. Clinton hopped on a jet to go 20 miles. Well worth the time to watch, especially the debate at the 14:30 mark.


          • On June 3, 2017 at 8:11 pm,
            CFS says:

            No it wasn’t worth watching. Mark Green does not know what he was talking about.

          • On June 4, 2017 at 4:17 am,
            Markedtofuture says:

            CFS, you made my point. Mark Green does not know what he was talking about. The cable channels put on anyone who wants to act as an expert. Carlson did a great job of proving he did not know what he was talking about.

            Trump Didn’t Kill The Paris Agreement – It Was Already Dead


      • On June 3, 2017 at 9:44 am,
        Big Al says:

        Amen, Jerry

  6. On June 3, 2017 at 4:40 am,
    Archdeacon (!) Andrew says:

    Thanks Al and to your team as always.
    Ref Seg 7 I find myself confused. That Christians are being persecuted in many Muslim countries is in no doubt, and there should be global outrage. Right now my brother for his 75th birthday is engaged in a 750 + mile cycle ride from Scotland’s most northerly point in ‘Cape Wrath’ down to ‘Peacehaven’ in the south of England. He is raising funds for a charity Peace International, which specifically targets the needs of persecuted Christians worldwide. So while Brother Robert’s endeavours are of course heroic, I fear that his efforts typify well-meaning endeavours but which in the long run solve nothing. But having said that I apologise straightaway if I sound over-cynical to many on this site.
    My longing is for Christians, individually and collectively is to up the ante when it comes to standing up for justice and true human rights. For an absence of justice, and true human decency are glaringly obvious in most of our western democracies. All too many of the Christians I know seem, while decent enough as people to be oblivious to the evils facing us on the home front. Put bluntly they just don’t seem to get it; or choose not to!
    I’m also troubled over this whole end-world belief that associates the landmass of Israel as being of crucial significance to God’s final plans. I applaud President Trump for being a ‘friend’ of Israel in a way that Obama patently was not. But it needs to be remembered that many Jews and Christians regard a literal Israel as nothing short of a gross aberration; something originally devised between fundamentalist Christians Zionists. For whilst at the end of the war we speak of Jews getting persecuted as though that somehow legitimises Israel’s existence, all too easily we forget that 700,000 Palestinians got murdered or evicted in 1948 as though to fulfil some highly questionable Biblical prophecy.
    OK we as Christians can only do our bit, and often it feels pitifully small. But self-deception is the greatest deception of all and I see a lot of that going on within the faith I espouse.

    • On June 3, 2017 at 8:45 am,
      jhpace1 says:

      Christians get persecuted because they don’t fight back. This comes from the Reformation, when Bible-reading Puritans wanted to reform England’s Church back to a Bible-led doctrine. This went against the Church of England under King James, and resulted in persecution of the minority. The same for the Spanish Inquisition when believers wanted to stop the priest class from blackmailing and looting both poor and rich to make themselves rich, including the Pope.

      When Christians were the majority and fought back against the invading Muslims it was called the Crusades. The Americans fought back against the Muslim Barbary pirates during the administrations of Jefferson, Madison, and Monroe; our Marines still sing of the victories in Libya and Algiers today.

      It was only the discovery of crude oil in the Middle East that made Muslim nations relevant again after the fall of the Ottoman Empire. The policy of “use up their resources before we use up ours” has resulted in economic and energy wars since the 19th Century.

      But Christians need to stop being sheep and start being more like King David and Prince Jonathan of the Old Testament. Notice how even in the USA entire state administrations and school districts have turned against our Judaeo-Christian heritage. Why? Because during WWII and afterwards the common people were lied to in order to believe people with higher education were somehow more fit to lead us, despite hidden anti-Christian agendas. So even Christians in America are now under attack. Because we don’t fight back, given the overwhelming majority of the legislative, executive, and judicial anti-Christian agendas.

      The Muslims want to make this a religious war against all other peoples, even when we ourselves say that they do not!

      • On June 3, 2017 at 9:04 am,
        CFS says:
        • On June 3, 2017 at 9:06 am,
          CFS says:

          Egypt does not bother to investigate the killing of Christians.

          (Note: I am not a Christian, just an observer of what is going on.)

        • On June 3, 2017 at 10:02 am,
          Big Al says:

          I am a bit confused CFS as I read that the Egyptian military retaliated aggressively. Please explain.

          • On June 3, 2017 at 7:02 pm,
            CFS says:

            It is all show.

            Go to Egypt as a tourist and the Government arranges a convoy for buses with a jeep with a mounted machine gun both at the front and back of the convoy e.g. from Alexandria to Cairo. Go to the Cairo Museum and the parking lot has similar protection plus police with Uzis. Go to Karnak, or Valley of the Kings, similar protection during daylight hours. Regular stoppings of cars occur with requests for ID or passport, if you try to travel by rental car. Don’t travel after dusk unless you’re want to risk trouble.
            If you want to evaluate whether the Coptic Christians are protected just look at their actual numbers over the last 5 years. 5 years ago there were about 20 million coptic christians in Egypt; I doubt there are half that number now.

      • On June 3, 2017 at 9:50 am,
        Big Al says:

        Great comment jhpace. I am going to send it to Mr. Abramowitz.

      • On June 3, 2017 at 2:31 pm,
        irishtony says:

        Andrew / jhpace……True words & very well put togther.

      • On June 3, 2017 at 3:34 pm,
        BDC says:

        “It was only the discovery of crude oil in the Middle East that made Muslim nations relevant again *** after the fall of the Ottoman Empire.” ***

        Actually, Admiral ‘Jackie’ Fischer’s program to power the British navy with oil created the necessity to obtain it, and the middle east held the greatest resource. This process began well before the turn of the previous century, and some have surmised that it helped to fuel events leading to “The Great War”.

        P.S. Well done, though somewhat biased, account of WWI: https://www.youtube.com/user/TheGreatWar/playlists.

      • On June 3, 2017 at 7:13 pm,
        CFS says:

        I agree jhpace1. The muslims are not just against Jews or Christians, they are against all “non-believers”. The is why if you wish to change from Islam to any other faith or non-faith in Saudi Arabia, the OFFICIAL PENALTY is DEATH.

        • On June 3, 2017 at 8:01 pm,
          CFS says:

          Terrorism again on a nice weather Saturday evening in London kills 6.
          3 terrorists shot dead by police. (England does not have a death penalty for murder)

    • On June 3, 2017 at 9:00 am,
      GH says:

      Great comment, Archdeacon Andrew, I fully concur.

      jhpace1, What do you suppose the body count of Muslims killed by ‘Christians’ vs Christians killed by Muslims since, say, WWII? How does that fit your theme of ‘not fighting back’?

      • On June 4, 2017 at 11:03 am,
        jhpace1 says:

        The wars since WWII have been Christianity vs totalitarianism, with the emphasis on economics, as well as ideology. Killing Shiite vs Sunni Muslims because one is an oil cartel does not change the war of Muslims vs everybody else. The coalition soldiers that enter Muslim lands have to obey certain Muslim laws (i.e., no alcohol, no evangelizing). The Muslims, on the other hand, have never stopped their evangelistic overtones on other nations.

        • On June 4, 2017 at 5:34 pm,
          GH says:

          Korea, Vietnam, the many more covert wars, like Indonesia and Central America…Christianity vs totalitarianism with an emphasis on economics…

          And since 2001? Afghanistan, Iraq, Libya, Syria, Ukraine, Yemen, plus the less publicized conflicts and covert actions in Africa. These are?

          It’s hard for me even to understand your frame of reference.

          Brings to mind:


          Totalitarianism is going to bite you in the ass.

          • On June 4, 2017 at 6:14 pm,
            GH says:

            I don’t mean to be rude. But we’re living under 100% surveillance with a centrally controlled economy, the public dialogue controlled by a small handful of corporations, politics that go to the highest bidder, and a permanent warfare state.

            “A standing military force, with an overgrown Executive will not long be safe companions to liberty. The means of defence against foreign danger, have been always the instruments of tyranny at home.” ~James Madison

            “No nation could preserve its freedom in the midst of continual warfare.”
            ~James Madison

            “A really efficient totalitarian state would be one in which the all-powerful executive of political bosses and their army of managers control a population of slaves who do not have to be coerced, because they love their servitude.” ~Aldous Huxley

            Not popular opinions, I know, but:

            “Great is truth, but still greater, from a practical point of view, is silence about truth. By simply not mentioning certain subjects… totalitarian propagandists have influenced opinion much more effectively than they could have by the most eloquent denunciations.” ~Aldous Huxley

    • On June 3, 2017 at 9:47 am,
      Big Al says:

      What a though provoking comment, Thanks Andrew. E-mail me an address to send a contribution to our brother.

      God bless.

  7. On June 3, 2017 at 4:43 am,
    Archdeacon (!) Andrew says:
  8. On June 3, 2017 at 4:55 am,
    Markedtofuture says:

    Rye Patch Gold (RPM.v) buries the lede…but IKN comes to your rescue. Here’s the thing that really matters in its NR today, the one with the cool “Rye Patch Reports Gold Production” headline and the 3,094oz gold poured. It comes right at the bottom of the NR.

    “Progressing toward commercial production in Q3”

    A quick Ottotrans for you: “We were operating at a loss in May. We are operating at a loss in June. We will be operating at a loss in July, possibly August and September, too.” That $5m from the sale of the Rochester royalty won’t last long, these guys will run that placement soon.


    • On June 3, 2017 at 10:06 am,
      Big Al says:


      I have a bit of a history with ikakola and, based on my experience, I simply ignore them. I give Bill a lot of credit for what he has accomplished so far and I will soon be purchasing additional shares in the company which I will announce in my timely manner.

      • On June 3, 2017 at 10:08 am,
        Big Al says:

        By the way, you might consider reading the analyst reports that were issued after a recent visit by them to the property.

        • On June 3, 2017 at 4:53 pm,
          Markedtofuture says:

          Al, just showing the other side of the market. I sold my Rye Patch when I found out Randy Buffington of ANV was a director. He is no longer there, will wait for a reverse split before reconsidering taking a position.

      • On June 3, 2017 at 11:59 am,
        Excelsior says:

        +1 Big Al. Otto is unduly negative when he has an axe to grind, and he was saying a capital raise was imminent a few months ago, but then when Rye Patch sold their Couer NSR it ruined his bashing “narrative” that they were out of money.

        Now “Negative Nancy” is acting like things are for some reason unique for RPM n that they aren’t at full profitability yet as they ramp things up into full nameplate production. (What company ever is during ramp up?) His trash talking is ridiculous and best served tuning the wet blanket out. RPM is a NEW PRODUCER and yes, as they ramp up into full commercial production they may need to raise some funds. Who gives a flip, at least they are producers and have achieved something 99% of the exploration drill plays will NEVER do.

        At least their revenues will be growing each month, and if the Gold price appreciates in later 2017 and 2018 then they’ll be cash-flowing just fine. To continue knocking on a company that did all the right activity, staked the land according to law, beat out Goliath in court and got the NSR awarded, bought back some of their own shares, acquired more land, continued to develop Lincoln Hill and Wilco, and pulled off a stealth mine/mill acquisition at the bottom of the market is a series of great moves & decisions by management and should be commended. The only reason he continues to try and generate problems and doubt is because he has an excessive amount of douche-baggery and likes being negative and controversial. Why people give him the time of day is puzzling.

        • On June 3, 2017 at 12:01 pm,
          Excelsior says:

          If people want to hear what is going on with the company then they can here it right from the CEO on the interview w/ Bill posted earlier this week.


          Korelin Economics Report – Interview with William C. Howald, President and CEO of the Rye Patch Gold (RPM) (RPMGF)

          RyePatch Gold Produces 3,094 ounces of #Gold in MAY, 2017


        • On June 3, 2017 at 2:50 pm,
          Matthew says:

          Otto has the disposition of every slimy Marxist.

    • On June 3, 2017 at 12:32 pm,
      Imtiaz Rahmat says:

      I don’t think Bill and his team at Rye Patch are resting the future of the company on the 5 million from the sale of the royalty to get the company to commercial production. Monthly sales from gold and silver will also go along way to covering expenses and I believe the need for dilution and cash generation is not on the table at this time as long as the gold production continues to grow each month.

      • On June 3, 2017 at 12:43 pm,
        Excelsior says:

        Great points Imtiaz Rahmat, but Otto wasn’t giving any value to the monthly sales of Gold & Silver in his repetitive smear pieces.

        It is nice to hear some rational thoughts on RPM. Much appreciated.

  9. On June 3, 2017 at 5:17 am,
    jim says:

    Big Al:

    FYI for you and Dr. Huber. My son is a psychologist in the VA and he tells me the vast majority of his patients are Vietnam Vets.

    • On June 4, 2017 at 11:06 am,
      jhpace1 says:

      Retired Nurse Joyce Riley of the Power Hour has up-to-date data on Persian Gulf and Iraqi war veterans and drug dependence.

  10. On June 3, 2017 at 7:29 am,
    JohnK says:

    Segment 1 Chris Martenson:
    This was a great segment.For some time now I have contended here at the KE Report that the BOJ has been partially responsible for the inflated stock market.I have been trying to make the correlation between the BOJ and their policy in defense of the JGB 10 year treasury and the prices of the precious metals.
    Cory stated that all the Central Banks seem to using the same playbook. There is a revolving door that goes from the Federal Reserve to the Brookings Institute.
    Ben Bernanke has used this door and was recently May 24,to be exact in Japan advising them.Here is a quote “The tools used in the past few years are running up against their limits.Bernanke calls for a new program of spending and tax cuts. Accelerating inflation to reduce GDP.Just what Japan needs right?
    Japanmacroadvisors.com has been all over this.
    Here is another interesting quote.”The BOJ also purchasing equity ETF’s at the current pace,the BOJ will own more than 20 trillion yen of equity by 2018,More than twice the size of capital of the BOJ.
    Also the world’s largest pension fund GPIF (Japan) who manages 135 trillion yen has 80% of its fund tied to indexes. This is the same fund has stated that it wants to invest in President Trumps infrastructure.
    During the 1980s The price we recieved for our salmon went from 2.25 a pound to 60 cents due to the Japanese economy crashing.They were the primary buyers.
    I have not forgot this nor will I ever.
    Ben Bernanke handed me my largest one day loss in the stock market the first time he lowered interest rates. It was Thursday and the market rallied 600 points on no news.
    I was short the Q’s. Later I would learn that Bernanke’s decision was leaked to Wall St and not anybody else.Friday mourn pre market Bernanke announced that the Fed was lowering rates.The market rallied another 500 points against me.
    I don’t trust the BOJ.
    I don’t trust Ben Bernanke.
    I don’t trust this market.
    Got Gold ?

    • On June 3, 2017 at 9:07 am,
      JohnK says:

      That should say accelerating inflation to reduce debt to GDP.
      Sounds like a teenager with a credit card. What could possibly go wrong?

      • On June 3, 2017 at 10:07 am,
        Big Al says:

        “What could possibly go wrong”?

        It is called “reality”

        • On June 3, 2017 at 10:58 am,
          JohnK says:

          Reality. The repeat of Japans lost generation.
          Led Zepplin says look at the windows.

          • On June 3, 2017 at 1:45 pm,
            JohnK says:

            The market will change when the conscious environment is shocked into believing that the reality that they have been experiencing has been manufactured by a force that has been perpetuating a myth that was supposedly there to benefit them,but in reality it goes against all that they consider to be good.
            The alternative reality.

  11. On June 3, 2017 at 8:46 am,
    OOTB Jerry says:

    MORE FAKE NEWS>>>> BLS REPORT…..93% of ALL JOBS added since 2008, are from birth /death model………
    deduct 30% from jobs report……….and you have a real outlook on JOBS……zerohedge

    • On June 3, 2017 at 10:07 am,
      Big Al says:

      Well, sure OOTB!

  12. On June 3, 2017 at 10:37 am,
    Pete says:

    The pm;s has put a spell on me 🙂


    • On June 3, 2017 at 12:33 pm,
      Excelsior says:

      I’ve already had the PM spell on me for some time…. (lol)

      Spell On Me – The Reverend Horton Heat


      • On June 4, 2017 at 11:15 am,
        Pete says:


  13. On June 3, 2017 at 10:38 am,
    Matthew says:

    Bob Hoye – Why the Loonie Should = US Dollar


    Hoye is right about climate change, too.

  14. On June 3, 2017 at 12:05 pm,
    Excelsior says:

    It seemed worth posting this Rick Rule interview again here on the weekend show, as some people only tune in on weekends, and Brian Leni asked some unique questions and was able to pull from RR some different answers than we normally hear from him. This was one of the better interviews I’ve read lately, and figured others may appreciate it.


    A Conversation with Rick Rule – Actionable Words of Wisdom from One of the Industry’s Wisest
    Brian Leni P.Eng – Founder – Junior Stock Review
    May 31, 2017


    • On June 3, 2017 at 12:27 pm,
      Excelsior says:

      Here’s another re-post from earlier in the week that is worth reviewing.


      In Gold We Trust
      June 1, 2017 | Extended Version (they are kidding – this is long & dense material)
      Ronald-Peter Stoeferle, Mark J. Valek


      • On June 3, 2017 at 12:45 pm,
        Excelsior says:

        I really enjoyed this article but like most of the MacroTourist pieces. This one is getting reposted to as it has affected the share prices, volume of the selloff, and investor sentiment in the Gold/Silver miners more than anything since the April 12th selling and front-running by the markets kicked off.


        by Kevin Muir — on GDXJ , GDX , VanEck , gold June 2nd, 2017


        • On June 3, 2017 at 12:46 pm,
          Excelsior says:

          These excerpts from that GDXJ Epic Rebalance article stood out:

          “A month and a half ago I wrote about the problems facing VanEck with their Vectors Junior Gold ETF (GDXJ). My piece “The real message from the GDXJ mess” highlighted the risks from the forecasted index changes. The rebalancing of small cap precious metal companies that made up the index was unprecedented.”

          “TD Index Specialist Peter Haynes recently wrote a report where he described the rebalance as “the single greatest wealth destruction event in index history.” He included a great chart that showed that the stocks with forecasted weight reductions have declined 15.7% while the adds are down only 3.3%.”

          “I haven’t seen that much red since I pulled up Fannie Mae’s portfolio in the depths of the great financial crisis. Those are some f’ugly numbers.
          In all my years of trading indexes, I have never witnessed that sort of selling in front of a rebalance. These stocks have been pummeled. Devastating.”

          “I realize the actual official index announcement has not even been released. It would usually make sense to wait for the selling to crest in the days a little closer to the actual rebalance. After all, we are still two weeks away from the June 16th rebalance day….”

          • On June 3, 2017 at 12:48 pm,
            Excelsior says:

            There there was this heartening look at Beer vs Gold this week:

            66-year chart of Beer vs Gold price may lead to (heavy) drinking
            Frik Els | a day ago


          • On June 3, 2017 at 1:34 pm,
            brian says:

            This is a great article; I am almost convinced that the recent disconnect between gold price (increasing) and the PM Miners (decreasing) can be partially attributed to the GDXJ re-balance.

          • On June 3, 2017 at 1:58 pm,
            Excelsior says:

            Brian – I concur and believe it has been a major sentiment drag in teh space since selling started in April, but luckily things should be mostly wrapping up by June 16-17:

            Here’s a list of which companies are still being sold down, but it is unknown how much is remaining. Most of the selling has been front run but there may be a bit more residual weakness to work through.


          • On June 3, 2017 at 2:05 pm,
            Excelsior says:

            As noted yesterday, the selling in an number of companies that were bumped from the GDXJ index (like PPP) have already completed as it no longer shows up on that list above.

            It will interesting to see if other ETFs like SGDM, SGDJ, GOEX, etc may add to some of these names to give exposure to investors that aren’t that thrilled with the new direction of GDXJ.

            Many investors and newsletters (like Katusa’s) are advising to wait for the selling to end then buy, but the question comes down to — Will they buy?

            Will the downside momentum overwhelm an environment without enough buying, and thus, start a sharper decline?

            Conversely, Will this new bottom-fishing buying be enough to exhaust the selling, and cause shorts to cover, and kick off a new rally?

          • On June 3, 2017 at 2:07 pm,
            Excelsior says:

            Concentrate on Healthy Junior Miner Trees Not the Diseased GDXJ Forest
            David Erfle – Friday April 28, 2017

            “According to a press release last week by VanEck, starting on June 17, “companies ranking between 60% and 98% (currently: between 80% and 98%) of the full market capitalization (of the investable gold miner universe) qualify for inclusion in the MVIS Global Junior Gold Miners Index.”

            “Basically, what this means is the GDXJ is about to become even less like a “Junior Gold Miners Index Fund” than it presently is. Beginning on June 17th, even more higher market cap companies, which do not remotely resemble traditional “juniors” in the space, will begin to be added. These changes to the index will result in a dramatic transformation of GDXJ’s portfolio, reducing the exposure it offers even further to the smallest junior gold miners. Scotiabank estimates that there could be as many as 23 new additions to the index (four of which are already in the ETF) which could represent 60.8% of the new index portfolio.”


          • On June 3, 2017 at 2:09 pm,
            Excelsior says:

            Silver Short-Squeeze Potential
            Adam Hamilton – Jun 02, 2017

            “Silver has suffered a lackluster year so far, really lagging gold’s upleg. Sentiment is still reeling following silver’s crushing selloff from mid-April to mid-May. But that plunge was largely driven by extreme silver-futures selling by speculators, including a blistering spike in short selling. The resulting excessive shorts have left silver with excellent near-term potential for a short squeeze, which would catapult it rapidly higher.”

            “Technically, silver ultimately acts like a leveraged play on gold. The yellow metal has long been silver’s dominant primary driver. Investors and speculators alike flock to silver when gold is rallying, forcing this tiny market to surge dramatically. But when gold sentiment is weak due to lackluster price action, silver demand from traders dries up. Thus silver drifts listlessly or grinds lower, compounding bearish psychology.”

            “The bottom line is silver is set up for an imminent potential short squeeze. A likely forced liquidation of a huge long position enticed speculators to flood into silver-futures shorts between mid-April and mid-May. That fueled a massive shorting spike, leaving shorts exceptionally high despite some covering buying since. These remaining shorts must soon be covered by buying offsetting longs, driving silver sharply higher.”

            “Given the extreme leverage inherent in silver-futures trading, these speculators can’t mess around with the next FOMC meeting looming. Silver has surged sharply after all three previous Fed rate hikes in this latest cycle! So major buying to cover is actually highly likely before mid-June’s universally-expected next rate hike. This short covering will probably entice in long buying, amplifying silver’s near-term upside.”


          • On June 3, 2017 at 2:11 pm,
            Excelsior says:

            Adam is a perma-bull, but he is a fairly decent technician, is aware of the seasonality of the metals, and while I don’t get overly into all the COT positioning that traders endlessly debate, this point he is making about a potential short-squeeze in Silver is a real probability.

            Most of the initial rallies that get going in the metals (especially very small markets like Silver) are really the results of shorts starting to cover. and moving the pricing higher with such momentum.

            If there were to be a 4th rate hike rally in the metals, then in about 2 weeks we may see the shorts start to cover, and that would mark an inflection point. It just seemed worth posting his thoughts for consideration, because that’s been in the back of my mind also. Cheers!

          • On June 3, 2017 at 3:46 pm,
            brian says:

            Of all of the companies on the list, I think Klondex is the best buy (down 24% since 12April)

          • On June 3, 2017 at 3:56 pm,
            Dick Tracy says:

            Beer is the golden nectar of the gods, bar none! DT

          • On June 3, 2017 at 5:17 pm,
            Matthew says:

            Ex, Adam is not a typical permabull if he is one at all. He became cautious at the right time last summer and thoroughly knows what value is. Like me, he remained big-picture bullish throughout the cyclical bear market but that has proven to be the correct position.

            On a related note, notice that Rick Rule told Al that he’d been a buyer of IVN for the last four years? There’s nothing wrong with such a patient accumulation strategy when positioning for huge gains. In addition to trading, I took the same approach with several miners during the bear market and, as you know, increased my IPT position 6.7 times in 2015.

          • On June 4, 2017 at 10:05 am,
            Excelsior says:

            Brian – I agree that Klondex is a good value here. Teranga Gold is an excellent value here as well. Really there are quite a few more on that list that have been sold down hard on this GDXJ rebalance, and are offering very attractive values as present. Again, if we see more weakness prior to June 16-17th then I’ll be a buyer.


            Dick Tracy – “Beer is the golden nectar of the gods, bar none!” — DT

            ( I couldn’t agree more my friend! That consideration has crossed my mind this afternoon Haha! )


            Matthew – good comments – “There’s nothing wrong with such a patient accumulation strategy when positioning for huge gains.”

            Yes that can be a VERY effective strategy for the long term game – old Turkey style.

            It really depends on an investors time horizon and their goals for the trade. Is it trade to capture a short-term change in direction, or a takeover arbitrage trade, or momentum trade on a strong impulse up-leg or corrective leg down? Or… Is it a slow accumulation of good value to hold for a longer period of time (months or more likely years)?

            If someone is swing trading for a several day or several week move, then having a commentator be mostly bullish and rarely bearish for the longer term trend, is of less value. (think David Morgan, Marc Faber, Jim Rogers, or Peter Schiff… While they may eventually be correct, in the shorter term, their advice is of little help on the moves in individual Jr stocks).

            However, like you mentioned with RR with IVN, or what you did with IPT regular accumulation over time of quality assets like that can be a great buy and hold strategy. Agreed 100%.

            I also like this gradual accumulation strategy with the thinly traded and forgotten Jrs, [that one feels convicted in having real under-appreciated value], because it is hard to move into them in real volume without spiking the price. In some stocks in 2015-early 2016 my approach was just to keep dollar cost averaging into the positions over multiple tranches; to get a very low average cost basis.

            Personally, I took that same approach with Silvercorp, Americas Silver, Aurcana, Jaguar Mining, Scorpio Gold, Argonaut Gold, Nicola Mining, Galaxy Resources, Lithium Americas Corp, Nemaska, Ur-Energy, Uranium Energy Corp, and Nexgen. I bought a number of tranches in each one of them over time (months to years) during the unloved and forgotten periods of the bear markets.

            Currently, I’ve been deploying a similar approach with over a dozen unloved Gold & Silver stocks, PGM stocks, Specialty Metals stocks, and more recently have been starting to add to some Lithium/Uranium stocks again since they are so out-of-favor and on life-support.

            Then there are other companies that I will take a much different approach with, and pick off a medium-sized position from the get-go based on a chart or imminent fundamental driver. I may average down 2 more times, but those are typically short duration trades for me, where I get positioned in a short period of time, to play a short-duration trade. In those moments, mulling over longer term assumptions that need 3-5 years to play out are of less interest, and so I’ll seek out technicians like Morris Hubbart or Gary Wagner for the shorter blips n pips.

            Good thoughts from everybody. Cheers!

    • On June 3, 2017 at 12:50 pm,
      Excelsior says:
      • On June 3, 2017 at 1:55 pm,
        Excelsior says:

        By Paul – June 2nd, 2017 – Colombia Gold Symposium

        “Walking with giants

        Despite the brilliant sunshine I had a packed room of 200 people for my presentation. For better or worse, I am becoming an expert or source of knowledge about the mining and exploration scene in Latin America and of political risk in the region. I get asked a lot about Colombia, Ecuador, Argentina, and part of my presentation was dedicated to such things.

        These events are great for my profile and building relationships, which hopefully results in being able to be a better writer, researcher and source of intelligence about the sector. The ongoing results of this mean that I get to spend time with successful, experienced people such as Rick Rule, Brent Cook, Jonathan Goodman, Frank Holmes, John Kaiser and Mark Stuade. Such informal meetings often involve exchanging notes on companies/people/projects – everyone is looking for ideas and to increase their information to assess companies/people/projects. And if they think you are a good egg, successful people like nothing more than introducing you to other people in their network. The cross fertilization is incredible and why mining is a sector where with one or two degrees of separation you can meet almost anyone….”


        • On June 3, 2017 at 2:19 pm,
          Excelsior says:

          This was an interesting segment from Fabi, Jay, and Nick about how they handle and process Stock tips from other investors, from Newsletter Writers, and from investing blogs.

          This interview also discussed their approach in the spirit of sharing Tips with others, once they’ve whittled down the investment thesis or the risk/reward scenario on a company they’ve done a deep dive on.

          This is a fun group of younger investors that show a lot of wisdom and good speculating rationale. Worth the listen for how we can all better deal with Stock Tips.


          Hot Stock Tips
          Interview with – The Next Big Rush (Fabi), FiFighter (Jay), MiningBookGuy (Nick)


    • On June 3, 2017 at 2:13 pm,
      Excelsior says:

      (EMX) Eurasian Minerals Inc. (Scott Close)
      Metals Investor Forum May 2017 – Corporate Presentation
      Beneath The Surface – #ProspectGenerator #Royalties


  15. On June 3, 2017 at 12:53 pm,
    russell s hamilton says:

    Canadian dollar is too cheap now. Gold is not responding well given potential problems both domestic and overseas . I sold my Dr. pepper some days ago at a small profit . Waiting to buy it again if it falls below 92. TV ads for Pepper seem very creative and are aimed at 15 to 25 year olds. Trump is prob not asking for Executive priveledge, and shuting someone up after firing them and calling them a nut job, wont work. You have to still be an employee to be under control of Pres if they want to enforce Executive Priveledge . I expect little testimony from Comey , except he should be able to read the memo about Trump trying to quash the investigations. Bad week for trump. pray for Sanity. S

  16. On June 3, 2017 at 1:27 pm,
    David says:

    Chris Martenson – he may turn out to be correct in the very long run, but I have never known a man who gets the timing wrong so often. Remember the Chris Martenson who for years pounded the desk about “the earth is running out of oil” well – look at the situation today – the world is awash in oil. I guess Chris needed a new rant so here it is – central bank balance sheet expansion. I hate to mention to Chris – central banks of the world are not accountable, and are free to do as they wish to the ‘balance sheet’. Balance sheets to central banks are meaningless! absolutely meaningless!!! They are not companies, no more than the US government is constrained by GAAP accounting principles!

  17. On June 3, 2017 at 3:51 pm,
    BDC says:

    Abiotic Oil and Primary Water are rarely discussed: http://primarywaterinstitute.org/

    • On June 3, 2017 at 4:43 pm,
      Matthew says:


    • On June 3, 2017 at 5:36 pm,
      GH says:

      I must admit, I bought the peak oil story as well. Have since backed off and am considering more carefully the abiotic oil argument. If anyone has any good info on the matter, please post links.

      Thanks for the link on Primary Water, BDC–this is a new one for me.

      • On June 3, 2017 at 6:07 pm,
        BDC says:

        For me too, until recently. Slowly the truth is coming out about these things, and the ‘narrative’ is breaking down, bit by bit.

    • On June 3, 2017 at 7:28 pm,
      CFS says:

      Does water need to be discussed?

      Israel currently produces water more cheaply from desalination of the Mediterranean than California does by damn storage in the hills. (And nowadays the Green lobby has such a stranglehold on the Californian legislature they could not even get approval to build another dam to create a reservoir.) The population in the US is considerably bi-coastal, and desalination just needs cheap energy and some capital.

      • On June 3, 2017 at 11:50 pm,
        CFS says:


        Some details of the Israeli desalination plant that provides water to 1.5 million people plus significant crop water from growing flowers and food.

        • On June 3, 2017 at 11:55 pm,
          CFS says:

          Correction: water for 3.8 million people.

          • On June 4, 2017 at 4:22 am,
            Robert Moriarty says:


            Except no water for the Arabs.

          • On June 4, 2017 at 11:47 am,
            CFS says:

            You aptly named your book Mr. Moriarty.
            It well describes much of your opinion about Israel.

        • On June 4, 2017 at 8:35 am,
          GH says:

          Interesting link on desalination, CFS, thanks.

          What I’m interested in is a full-cost-accounting analysis of the process. Will dig a bit and see what I can find.

          BTW, while I am not ‘anti-dam’, they’re certainly not impact-free. I once worked with a Colville Indian from Washington State. The Grand Coulee dam destroyed for eternity some of the most miraculous salmon runs in existence.

          If it comes to a trade-off of natural water courses for golf courses, or water-wasting industrial agriculture, I’ll take natural water courses.

      • On June 4, 2017 at 9:27 am,
        OOTB Jerry says:

        desalination………we have talked about this before…….no shortage of water…just shortage of brains on the subject…….jmo

        • On June 4, 2017 at 9:29 am,
          OOTB Jerry says:

          Peerless pump has had a conversion pump out for 15 yrs………..

        • On June 4, 2017 at 11:01 am,
          Excelsior says:

          Good points OOTB. Desalination makes all the water in the oceans available, but it does come at a cost. (There is no shortage of ice down in Antarctica either). 🙂

          • On June 4, 2017 at 12:48 pm,
            OOTB Jerry says:

            everything cost money……..people ship water from Hawaii and Fiji ….and buy it for $1.50 per 16 ozs…. 🙂

          • On June 4, 2017 at 12:49 pm,
            OOTB Jerry says:

            We use to get well water for free…….. 🙂

          • On June 4, 2017 at 12:50 pm,
            OOTB Jerry says:

            We should still be getting water for free, …if Monsanto was shut down……

          • On June 4, 2017 at 12:53 pm,
            OOTB Jerry says:

            Get the Lead out………The Romans went crazy drinking out of lead mugs….like we should have learned from history.

          • On June 4, 2017 at 5:39 pm,
            GH says:

            Gold can be mined from seawater too, at a cost. It just doesn’t pay.

            That’s why I’m interested in full cost accounting for desalinating water. Cost is everything.

          • On June 4, 2017 at 10:32 pm,
            Excelsior says:

            Agreed The Claw. We used to have well water that was treated with salt to reduce down the sulfur smell and to soften the water.

            That is true that people do go to huge expenses to ship water from around the world, but I was referring to the build out and maintenance of the desalination plants. They are getting bigger in the Middle East, and the US is starting to get engaged from Tampa, FL to San Diego…..


            Nation’s largest ocean desalination plant goes up near San Diego; Future of the California coast?
            By PAUL ROGERS

            “Fifteen desalination projects are proposed along the coast from Los Angeles to San Francisco Bay. Desalination technology is becoming more efficient. And the state is mired in its third year of drought.”

            “The crews are building what boosters say represents California’s best hope for a drought-proof water supply: the largest ocean desalination plant in the Western Hemisphere. The $1 billion project will provide 50 million gallons of drinking water a day for San Diego County when it opens in 2016.”

            “Will California — like Israel, Saudi Arabia and other arid coastal regions of the world — finally turn to the ocean to quench its thirst? Or will the project finally prove that drinking Pacific seawater is too pricey, too environmentally harmful and too impractical for the Golden State?”


          • On June 5, 2017 at 5:13 am,
            OOTB Jerry says:

            After Clawing through the article, I find it very interesting……..thanks…… 🙂

  18. On June 3, 2017 at 7:09 pm,
    BDC says:

    Megyn Kelly will be on NBC Sunday about this:

  19. On June 3, 2017 at 10:15 pm,
    CFS says:
    • On June 4, 2017 at 9:23 am,
      OOTB Jerry says:

      usawatchdog…..interview with Clif High…….great interview concerning bitcoin and a couple of others…….fiat system coming to a close.

  20. On June 4, 2017 at 3:51 am,
    Ozibatla says:

    Solid move by the PMs but lets see if we get some follow through action next week. Or do we get the standard price range modus operandi?

  21. On June 4, 2017 at 9:25 am,
    OOTB Jerry says:

    Central Banks have 30% of the bonds on balance sheet….$18 trillion of the $54 Trillion..zh

  22. On June 4, 2017 at 10:13 am,
    Matthew says:

    SLV is approaching resistance at the 16.75-16.80 area:


  23. On June 4, 2017 at 11:35 am,
    Markedtofuture says:

    Stateside Report Podcast – June 4, 2017

    In this episode of the Stateside Report Podcast we take a look at the week in gold, silver, the base metals and the stocks and then we cover the press releases for the week prior to the US Memorial Day holiday including Genesis Metals $GIS, West Red Lake Gold $RLG, Beaufield Resources $BFD, Enforcer Gold $VEIN, Chalice Gold Mines $CXN, QMX Gold $QMX, Noble Mineral Exploration $NOB, PJX Resources $PJX, Marlin Gold Mining $MLN, Minaurum Gold $MGG, Precipitate Gold $PRG, Adamera Minerals $ADZ, Rainy Mountain Minerals $RMO, Pasinex Resources $PSE, Novo Resources $NVO, and Arizona Resources $AZS. We talk gold, silver, copper, iron, lead, zinc, nickel and uranium.


  24. On June 4, 2017 at 11:50 am,
    Excelsior says:

    The Next Bull Market Move Interview – Luis Zapata, Executive Chairman of Montan Mining Corp (MNY) (SAIDF)
    by @bullmarketmove on June 4, 2017


    • On June 4, 2017 at 12:41 pm,
      Excelsior says:

      Luis did a good job of summing up their value proposition in this passage:

      “We now are working to close on a producing and cash flowing asset #acquisition (Kairos SAC/Mirador Plant) and have a second production-ready asset in the pipeline (Cerro Dorado). These two assets combined should produce 40,000 – 60,000 oz of #gold during a full year of #production with the cushion of a 125 TPD #BaseMetals #tolling service business which acts as a backstop for the inevitable ups and downs of the gold unit.”

      “In addition to that, pro-forma we will have 10 very prospective mineral concessions which we feel we may be able to monetize and/or mine in modest scale (6 coming via the Kairos #acquisition and 4 which we already own); and our 100% owned Rey Salomon #gold #mine which is awaiting a re-start decision subject to financing. That is an attractive suite of integrated assets.”

  25. On June 4, 2017 at 3:50 pm,
    Matthew says:

    The USDX is ugly with its bearish engulfing weekly candle and close below the lower Bollinger band:


  26. On June 4, 2017 at 5:57 pm,
    GH says:

    For those interested in medical cannabis, this will likely be worthwhile, a 7 part series starting Wednesday:


  27. On June 4, 2017 at 10:21 pm,
    Excelsior says:

    Boffins find evidence of strange Uranium-producing bacteria lurking underground
    It’s easier to mine than uraninite ore, too

    2 Jun 2017 – Katyanna Quach


  28. On June 5, 2017 at 2:28 am,
    Excelsior says:

    (MXSG) Mexus Gold Assays at Santa Elena mine show an average 5 g/t Au and 18 g/t Ag
    by @nasdaq on June 5, 2017

    “The Santa Elena mine has processed 16,000 tons of ore from Vein 2 which was the blasted material to a depth of 5 meters. New mineralized material is now being mined from the Julio structure. A low angle shear zone has just been uncovered at the footwall of the main Julio vein. This ore is being hauled directly to the pad after adding the required lime for PH control. Most of this material is pad ready and crushing is not needed. Samples from this new material were collected randomly and analyzed by Mr. Lemas at a local fire assay laboratory. One duplicate was split and pulverized then fire assayed in 10 gram portions. Results returned an average of 5 g/t Au and 18 g/t Ag. Quartz vein boulders from this system are being treated separately to be crushed and sampled. This material will be processed as high grade or hauled to the leach pad based on the results.”

    “The mine crew is currently producing 500 to 1000 tons per day with only one pit in operation. The plan is to reach 1000 to 5000 tons per day in the near term with several pits being worked simultaneously. Additional drilling and blasting equipment will be used as well as hauling trucks. There is no interference between production points as the structures are widespread and located close to the crushing area and leach pad.’

    “The pad for the crusher is cleared and being prepped. The plan is to stair step production with the end goal of reaching 10,000 tons a day. Equipment scheduled for delivery includes a 988G Cat Loader, a 100 ton haul truck, track mounted blast drill, and a secondary crushing plant on site which will facilitate the increased production.”


    • On June 5, 2017 at 2:47 am,
      Excelsior says:

      “To say I’m excited about this assay would be an understatement. This result confirms what we had already stated- the Julio vein is rich in gold! The results from this vein will fluctuate but it’s important to keep in mind that we will also be digging in high grade zones as we work the shear wall. Getting Cesar involved is a real game changer for all as he knows this property extremely well…” — CEO Paul Thompson.

  29. On June 5, 2017 at 3:00 am,
    Wolfster says:

    Quick update by Thom calandra….makes mention of the gdx shuffle

  30. On June 5, 2017 at 8:05 am,
    Matthew says:

    GDX:GLD almost filled its May 10 gap this morning and looks like it will take another poke at it. Here’s a 60 min chart (if you can see it):


  31. On June 5, 2017 at 8:10 am,
    Matthew says:

    This chart won’t show today’s action until this evening but you can see what (resistance) silver is up against: