Chris Temple from The National Investor – Wed 12 Jul, 2017

Recapping Yellen’s Prepared Comments and the Bank Of Canada Raising Rates

There is a lot going on today when it comes to central banks. Yellen is in front of Congress today and the Senate tomorrow. The market is reacting to her prepared comments. Also the Bank Of Canada followed through and raised rates 25 basis points, which was expected. Chris Temple weights in on the market reaction and overall tone of the central banks narrative these days.

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Comments:
  1. On July 12, 2017 at 9:25 am,
    Robert Moriarty says:

    Off Topic but readers need to see this video.

    https://www.youtube.com/watch?v=SiAGlWyjRq8

    Jay Taylor and I are going to be very right on Novo. Read the last few press releases and you will understand why

    • On July 12, 2017 at 10:15 am,
      Excelsior says:

      Agreed Bob M. Novo’s shareprice has been on the move lately and finding gold nuggets is always a thrill. I’ve been extremely impressed with the exploration team at (NVO) (NSRPF).

      ____________________________________________________________________________

      Novo Discovers Gold Nuggets in First Bulk Sample from Purdy’s Reward, Karratha, Western Australia
      @thenewswire on July 12, 2017

      https://ceo.ca/@thenewswire/novo-discovers-gold-nuggets-in-first-bulk-sample-from

      • On July 12, 2017 at 10:22 am,
        Excelsior says:

        By the way – Good article and interview out a few days ago. I liked seeing Novo mentioned there as well towards the end.

        ______________________________________________________________________

        Bob Moriarty: Commodities Cheapest in 50 Years, Resource Stocks Set For Big Move
        by Ceo Technician | 10 JUL 2017

        http://energyandgold.com/2017/07/10/bob-moriarty-commodities-cheapest-in-50-years-resource-stocks-set-for-big-move/

        • On July 12, 2017 at 10:31 am,
          b says:

          Since we’re posting from 321…Jul 12 Bitcoin and Ethereal are ‘cannibalizing’ gold BI

          I wonder if cryptos are going to pick up where manipulation left off as the reason PMs dont go anywhere.

          • On July 12, 2017 at 10:34 am,
            Robert Moriarty says:

            B:

            Well, yes.

            They are removing demand for gold but in the end all of the cryptocurrencies will have exactly the value as Beanie Babies. Actually Beanie Babies still have some utility value as toys.

          • On July 12, 2017 at 10:51 am,
            CFS says:

            Rm, Since you apparently think cryptos have no value, would you care to comment on the experiment that the Jamaican stock exchange (Not historically recognized as totally non-corrupt) is about to undertake in August and September using smart contracts using Veritaseum on the Ethereum platform?
            If successful, would not this demonstrate that the openness of block-chain technology does indeed have value?

            Please note. I am not saying there is not fraud in many crypto-currencies and in ICOs;
            nor am I am saying many cryptos are not valueless.
            I am saying the block-chain technology has some merits, which will be of great future use in specific cases.

          • On July 12, 2017 at 10:56 am,
            b says:

            That remains to be seen Bob.
            Right now I think it wise to own some, even if it is just to figure out how they work.
            There are governments that are accepting bitcoin now I hear.
            Thats a big deal.

            We still dont know who is going to win this cashless, pedophilia,own the media crap thats going on, if the “bad” guys win, we will go cashless.
            And the zionists look to be pretty darned entrenched if ya ask me.

            And people just dont seem to give a sht.

          • On July 12, 2017 at 11:31 am,
            Robert Moriarty says:

            CFS:

            Have your read “Extraordinary Popular Delusions. . .?”

            If you have, you will understand.

            Blockchain and cryptocurrencies are totally different. Blockchain is very good.

          • On July 12, 2017 at 11:58 am,
            CFS says:

            But the point I, perhaps, did not amply make, is that some cryptos are the “gas” that fuel particular applications of the block-chain technology.

            No one is going to provide computer power to run the block-chain storage for free.
            There are two mechanism by which the computing storage is paid:
            1. Mining new coins or tokens has been the historical method. (But this has problems in the long term)
            2. Consumption of part of a coin or token for running a particular application. (This will possibly take over as a longer term method)
            It is with this second method that we will be able to correctly value those cryptos used as “gas”, and by which they will have value.

        • On July 12, 2017 at 2:53 pm,
          Excelsior says:

          Good comments from @Goldfinger (CEO Technician) today on ceo.ca

          @Goldfinger – “The wider the base, the higher into space.” – this is an impressive breakout from a broad multi-month base in $NVO:”

          “Short term target of C$1.50.”

          http://cdn.ceo.ca/1cmct3l-NVO.V_7.12.2017.png

          “Short term target of C$1.50.”

          • On July 12, 2017 at 2:55 pm,
            Excelsior says:

            @Goldfinger – “@txtom338lm already surpassed my target price….. $NVO ”
            — about 2 hours ago

            @Goldfinger – “Interesting week so far, we’ve got some energy beginning to flow in the juniors. Got to give #Moriarty credit, he’s not afraid to put himself out there at key moments and so far we’ve gotten a decent bounce after a really dreary tape. He also pounded the table on $NVO and the stock rips 60%+. He’s mentioned Novo to me a couple times and he’s been consistent in saying the market completely underestimates what they’ve got there.”

            @Goldfinger – “@Excelsior it’s nice to see good guys do well. I wish them the best in finding some more nuggets 😉 “

    • On July 12, 2017 at 10:18 am,
      Bonzo Barzini says:

      I sure hope you are right, and that this won’t be another Bre-X. Let’s hope it’s another Kloof or Driefontein.

      • On July 12, 2017 at 10:27 am,
        b says:

        I can think of a few others to hope its not.

      • On July 12, 2017 at 10:35 am,
        Robert Moriarty says:

        BB:

        Watch the video and figure it out all by yourself. That’s something I have never seen before but the truth machine will tell the tale.

        • On July 12, 2017 at 11:04 am,
          b says:

          I did watch it Bob, Novo is on my list, has been for some time.

          My brother in law has decided to invest in PMs (foolish mortal) anyway, Novo is one of eight I gave him to look at.

        • On July 12, 2017 at 11:29 am,
          Bonzo Barzini says:

          RM, I did watch the video and think it’s great. I have owned NSRPF a long time and hope that they didn’t bury the gold before digging it up. I don’t believe they did.

          • On July 12, 2017 at 1:21 pm,
            Robert Moriarty says:

            BB:

            They had to blast that rock out with an air chisel and it wasn’t enough. The rock is so hard that they are bringing in an excavator with a giant hammer drill. The proof of course will be after dozens of assay results but I have never heard or seen anything like that gold.

            Go to Novo and read the page about the project.

            http://www.novoresources.com/projects/karratha/

            That has been public information for six weeks and totally ignored.

    • On July 12, 2017 at 1:29 pm,
      Excelsior says:

      All in all…. not too shabby of a day for Novo today 🙂

      _____________________________________________________________________

      Novo Resources Corp. (NVO.V)

      $1.49 up +$0.53 (+55.21% gain)
      At close: 3:59PM EDT

      • On July 12, 2017 at 1:47 pm,
        OOTB Jerry says:

        that was from the jack hammer effect……..

        • On July 12, 2017 at 1:48 pm,
          OOTB Jerry says:

          Bob needs to show more of those self made videos and this market will go to the moon…

          • On July 12, 2017 at 1:52 pm,
            Excelsior says:

            Agreed, although the video first surfaced from Otto, and then quickly was passed around. However, I’d note that stock didn’t actually take off until Bob M. posted about it.

            * Also, got to put a shout out to Jay Taylor who was where I actually heard about Novo Resources and who has regularly updated the market, as well as the good folks here at the KER.

          • On July 12, 2017 at 1:57 pm,
            OOTB Jerry says:

            ditto………who needs TBills……lol

          • On July 12, 2017 at 2:08 pm,
            Excelsior says:

            Funny OOTB.

            The Yen or 10 year wouldn’t have told anyone “Jack” Squat about this move today in Novo Resources. This was a move based on the fundamental newsflow, and is why fundamentals are still important with the Jr miners.

          • On July 12, 2017 at 2:21 pm,
            OOTB Jerry says:

            ditto…..agree

        • On July 12, 2017 at 1:49 pm,
          Excelsior says:

          haha Yes! (although I think it was more due the fact that the jackhammer found gold nuggets). 😉

          • On July 12, 2017 at 1:52 pm,
            OOTB Jerry says:

            I am still working on a cheap phone, and could not tell what it was…….thanks

          • On July 12, 2017 at 1:58 pm,
            Excelsior says:

            I posted the press release up above about their Gold nuggets, but honestly think that just put them more on people’s radar as they were really undervalued compared to other Developers and they have a few impressive properties.

            I trimmed a bit of my position towards the end of the day as there were a few other undervalued miners I wanted to allocate towards, but I left the rest on to ride….

          • On July 12, 2017 at 2:01 pm,
            OOTB Jerry says:

            thanks again…….

      • On July 12, 2017 at 1:50 pm,
        OOTB Jerry says:

        what was the volume today………..?

        • On July 12, 2017 at 1:55 pm,
          Excelsior says:

          (NVO.V)
          Volume 1,416,987 [wow]
          Avg. Volume 91,683

          (NSRPF) – OTC
          Volume Avg Volume (10 day)
          279,020 51,900

          • On July 12, 2017 at 1:58 pm,
            OOTB Jerry says:

            thanks appreciate……………the long…………. 🙂

          • On July 12, 2017 at 2:09 pm,
            Excelsior says:

            Always glad to share info with The Long Claw……

  2. On July 12, 2017 at 10:07 am,
    CFS says:

    Catherine Austin Fitts on SGTReport:

    https://www.youtube.com/watch?v=0TkYa34hEpk

    • On July 12, 2017 at 12:13 pm,
      OOTB Jerry says:

      Interesting .

      • On July 12, 2017 at 12:22 pm,
        OOTB Jerry says:

        Still can not find $11-42 TRIllion…DEEP state to deep sh##

        • On July 12, 2017 at 7:10 pm,
          Markedtofuture says:

          DOJ let Russian lawyer into US before she met with Trump

          The Russian lawyer who penetrated Donald Trump’s inner circle was initially cleared into the United States by the Justice Department under “extraordinary circumstances” before she embarked on a lobbying campaign last year that ensnared the president’s eldest son, members of Congress, journalists and State Department officials, according to court and Justice Department documents and interviews.

          This revelation means it was the Obama Justice Department that enabled the newest and most intriguing figure in the Russia-Trump investigation to enter the country without a visa.

          Later, a series of events between an intermediary for the attorney and the Trump campaign ultimately led to the controversy surrounding the president’s eldest son.

          Just five days after meeting in June 2016 at Trump Tower with Donald Trump Jr., presidential son-in-law Jared Kushner and then Trump campaign chairman Paul Manafort, Moscow attorney Natalia Veselnitskaya showed up in Washington in the front row of a House Foreign Affairs Committee hearing on Russia policy, video footage of the hearing shows.

          She also helped arrange an event at the Newseum in Washington, D.C. where pro-Russian supporters showed a movie that challenged the underpinnings of the U.S. human rights law known as the Magnitysky Act, which Russian leader Vladimir Putin has reviled and tried to reverse.

          http://thehill.com/homenews/administration/341788-exclusive-doj-let-russian-lawyer-into-us-before-she-met-with-trump

          • On July 13, 2017 at 7:29 am,
            OOTB Jerry says:

            Now Lynch is being investigated for giving the gal the special entry visa, after the gal’s visa had been expired by 6 months……The time is perfect for a set up for Donald Jr…..Lynch is going to get grilled by the good guys……………zerohedge

          • On July 13, 2017 at 7:30 am,
            OOTB Jerry says:

            time to timing…….sorry cheap phone with mind of its own………..

  3. On July 12, 2017 at 10:11 am,
    b says:

    I just listened to that cfs, kinda puts things in perspective.

  4. On July 12, 2017 at 11:25 am,
    Excelsior says:

    Gold Market Update
    Clive Maund – Monday, July 10, 2017

    #Charts #TechnicalAnalysis #GOLD $GDX #Dollar

    https://www.clivemaund.com/gmu.php?art_id=68&date=2017-07-10

  5. On July 12, 2017 at 11:47 am,
    Excelsior says:

    The loonie soars towards 79 cents, the highest in almost a year
    Higher oil and gold prices also fuel loonie’s rally
    The Canadian Press – July 12, 2017

    http://business.financialpost.com/news/economy/canadian-dollar-rallies-as-boc-hikes-interest-rate-for-the-first-time-in-7-years/wcm/896e8bea-b7b8-46bd-8bfe-7da4f1beb20d

  6. On July 12, 2017 at 12:52 pm,
    james says:

    Chris Has An Anointing ?

  7. On July 12, 2017 at 1:03 pm,
    Excelsior says:

    Copper-Inflow Chatter Masks Looming Deficit, Top Miner Says
    By Laura Millan Lombrana – July 11, 2017

    https://www.bloomberg.com/news/articles/2017-07-11/copper-buildup-chatter-conceals-looming-deficit-top-miner-says

    • On July 13, 2017 at 12:54 am,
      Excelsior says:

      Zinc Is in the Pink, as Mine Supply Struggles to Meet Demand
      Consumption in auto, construction sectors has helped erode excess inventory

      By David Hodari and Justin Yang
      July 10, 2017

      “Zinc prices have moved sharply higher over the past month, spurred by tight supply amid tougher Chinese environmental regulations, and analysts say the metal could rise further despite signs of a rebound in mine output….”

      https://www.wsj.com/articles/zincs-in-the-pink-as-mine-supply-struggles-to-meet-demand-1499688611

      • On July 13, 2017 at 12:56 am,
        Excelsior says:

        @engineer – “LME zinc stocks July 12 -2,525t to 273,675t from 276,200t July 11. Day 39 of consecutive Zn inventory drops. Visualized at Kitco:”

        http://www.kitconet.com/charts/metals/base/lme-warehouse-zinc-30d-Large.gif

        • On July 13, 2017 at 12:58 am,
          Excelsior says:

          That Kitco graph of LME Zinc inventories falling is exactly why there is a legitimate underpinning in the Zinc prices and why many of the Explorers and Developers still haven’t even begun their real moves yet.

          • On July 13, 2017 at 5:21 am,
            Excelsior says:

            Callinex Intersects 9.0m of 5.2% Zinc Equivalent Mineralization at 11m Depth Located 350m North of the Nash Creek Deposit in New Brunswick
            July 13, 2017 /CNW/ –

            “Callinex Mines Inc. (CNX) (CLLXF) is pleased to announce assays results from the first five holes drilled at the Company’s 100% owned Nash Creek Project in the Bathurst Mining District of New Brunswick”

            “Drill hole NC17-226 intersected 9.0m of 5.2% Zn Eq. including 2.4m of 12.6% Zn Eq. within 20m of surface and located 350m north of the Nash Creek Deposit; ”

            “Drill hole NC17-224 intersected 14.8m of 3.6% Zn Eq. including 2.7m of 6.9% Zn Eq. and 2.4m of 5.6% Zn Eq. within 100m of surface and located 250m northeast of the Nash Creek Deposit;”

            “An additional ten holes were drilled within a 450m long by 200m wide target area to the north of the Nash Creek Deposit.”

            https://ceo.ca/@newswire/callinex-intersects-90m-of-52-zinc-equivalent-mineralization

  8. On July 12, 2017 at 2:39 pm,
    CFS says:

    Ira’s end of day TA
    https://youtu.be/gQJO3iyVrDo?t=32

  9. On July 12, 2017 at 3:08 pm,
    spanky says:

    Ugly looking reversal candles on the miners today. Meanwhile, the Dow rips higher. So let’s get this straight, hawkish Fed, stocks go up. Dovish fed stocks go up even more. What a beautiful dynamic. Dow won’t have a 5% correction until it tags 23,0000.

  10. On July 12, 2017 at 3:17 pm,
    Dick Tracy says:

    Thanks Bob Buddy, Pal, Friend, and Champ, I listened to you earlier today about NVO and got in! LOL! DT

  11. On July 12, 2017 at 4:06 pm,
    Excelsior says:

    (R) (RDEMF) CEO writes shareholders:

    “A tough decision was made at the end of June 2017 to divert production crews to underground mine development while the add-on paste backfill plant is being constructed. While difficult, this is ultimately the right decision for all stakeholders: gold will be extracted much more efficiently in a few months, after the backfill plant has been built. While constructing the add-on plant is routine and capital is estimated at $3 million, the primary issue is the lack of revenue from gold sales during the approximate three-month construction period. Additional financing for a project at this stage is always going to be done at a significant discount. A private placement with our largest shareholders could have been pursued, however, we felt strongly that the right path was to offer those same terms to all shareholders through a rights offering.”

    http://cdn.ceo.ca/1cm9i6l-RceoletterJuly112017.png

  12. On July 12, 2017 at 6:57 pm,
    Excelsior says:

    Multi-billionaire mining maverick wants to harness nuclear energy in Earth’s core
    By Josh Loeb – Wednesday, July 12, 2017

    “In keynote speech at London Stock Exchange, Robert Friedland hailed ‘industrial magic’ ultracapacitors and compared making money on oil to ‘engaging in the cocaine business for a little while’

    “A multi-billionaire financier wants to drive hundreds of miles of tunnels into the centre of the Earth as part of a mammoth project to deliver clean energy to civilisations for all eternity.”

    “Robert Friedland, 66, a charismatic maverick mining entrepreneur who is also chairman of specialist energy tech firm I-Pulse, said a major government was considering funding his project to harness heat generated via nuclear fission taking place deep inside the Earth.’

    “In a keynote speech during an event at the London Stock Exchange, he told mining industry insiders: “The centre of the Earth is a nuclear reactor. We’re living on a nuclear reactor because there is enough remnant uranium in the core when it’s under that massive pressure that it stimulates a natural fission reaction. That’s what drives all the heat that causes our continents to be floating on a molten core.”

    He added: “We think there is enough nuclear fuel in the planet to sustain that heat for, best guess, modern science says five billion more years. So in the scale of human affairs, there is an infinite amount of heat right inside Mother Earth, the nuclear reactor. All you have to do is tap it, and the nice thing is it’s there 24 hours a day…”

    https://eandt.theiet.org/content/articles/2017/07/multi-billionaire-mining-maverick-wants-to-harness-nuclear-energy-in-earths-core/

    • On July 12, 2017 at 7:00 pm,
      Excelsior says:

      Robert Friedland is a force in business, but I’m not sure if he’s thought through the ramifications of drilling hundreds of miles of tunnels into the Earth’s core and utilizing the nuclear energy there. Still it’s an interesting notion.