Weekend Show – Sat 5 Aug, 2017

The loved (US equities) vs the unloved (metals) markets

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This week was pretty slow and boring until the job numbers on Friday. These numbers reversed the direction of the USD and gold. Both, especially the dollar, were due for a reversal but after the major selloff this year there is a long way to go back up. As for gold the metal continues to trade in the range between $1,200 and $1,300.

In this weekend’s show we spend a lot of the first hour focused on the metals markets as well as the US equity markets. While one sector is ignored (metals) and the other has money continuing to flow in (US markets) there are some worrisome signs for the complacent play.

We hope you all have a great weekend and thank you for spending some time with us. Please email me at any time (Fleck[at]kereport.com) regarding any companies, guests, or topics you would like to see on our show.

  • Segment 1: Chris Martenson from Peak Prosperity kicks off the show with a discussion on trade wars and how the US relationship with Russia and China could impact the markets.
  • Segment 2: A round table discussion on investing in metals and metals stocks with Doc and the Junior Miner Junkie David Erfle. This is the full uncut version.
  • Segment 3: George Gero address the outflows of funds from commodity ETFs in July.
  • Segment 4: Fund Manager Dana Lyons recaps a number of his recent articles where he outlines some concerns about the US equity markets.
  • Segment 5: (Replay) Valentin Schmidt Business Editor of The Epoch Times discusses the real estate environment in Mainland China.
  • Segment 6: Dr. Dwight Moore and Big Al continue their discussion about the psychological make up of our politicians.
  • Segment 7:  (Replay) Florence Romano discusses the legislation surrounding The Parental Care Act.
  • Segment 8: (Replay) Chris Martenson, Co-Founder and Co-Editor of PeakProsperity.com, discusses if Trumps plan to lower the dollar is actually good for the US Economy.

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


Featuring:
Chris MartensonRichard PostmaGeorge GeroDana LyonsCory FleckAl Korelin
Dave ErfleDwight MooreFlorence RomanoValentin Schmid

Comments:
  1. On August 5, 2017 at 3:13 am,
    CFS says:

    Thanks for your efforts in producing the show.

  2. On August 5, 2017 at 3:16 am,
    CFS says:
  3. On August 5, 2017 at 5:55 am,
    BDC says:

    For those interested in the SSRI question, testimony of the Michelle Carter texting trial psychiatrist is here: https://www.youtube.com/user/PeterBreggin/videos.
    Dr. Breggin has been an opponent of pharmaceutical misuse for decades.

    • On August 5, 2017 at 7:54 am,
      BDC says:

      Part 3 gets right down to it.

  4. On August 5, 2017 at 7:14 am,
    Skeeta says:

    Thanks as always for your efforts fella’s.
    Much appreciated.
    Cheers.

  5. On August 5, 2017 at 7:37 am,
    jhpace1 says:

    Precious metals were left alone until the Friday NFP employment report on Friday.

    It’s almost comical – if you want to buy PMs, wait until the 1st Friday of the month, or when the Fed Reserve Chair is speaking. When you want to sell, do it at least 3 days before same.

    I’m not throwing in the towel on PMs and miner stocks – but I’ll sit this quarter or two out and look at cryptocurrencies.

    • On August 5, 2017 at 9:18 am,
      OOTB Jerry says:

      Ditto…….ON COMICAL……..rigged all the way…..until comex is busted nothing is going to change…..along with end the FAKE FED.

  6. On August 5, 2017 at 7:43 am,
    Ebolan says:

    MUST SEE VIDEO ON THE DNC MAFIA AND CRIMINAL DEMONRAT DEBBIE WEASELMAN SCHULTZ!

    Please watch and pass on to everyone you know.

    https://www.youtube.com/watch?v=5tqeuhKj0_c

    • On August 5, 2017 at 9:19 am,
      OOTB Jerry says:

      she would do well as a nazi……

  7. On August 5, 2017 at 7:44 am,
    Ebolan says:

    More detailed info on DNC mafia and criminal Wooseyman Schultz.

    This may be one of the biggest scandals of all time.

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

    • On August 5, 2017 at 9:31 am,
      OOTB Jerry says:

      the other 30 members of congress , who stored the info outside on the Awan servers should be investigated……….

      • On August 5, 2017 at 9:32 am,
        OOTB Jerry says:

        535 members of congress need to go bye bye…………TERM LIMITS…..

      • On August 5, 2017 at 10:11 am,
        Ebolan says:

        I think there may have many as 80 Demonrats who may have been subject to blackmail.

  8. On August 5, 2017 at 7:52 am,
    Dick Tracy says:

    I don’t agree with Dr. Dwight Moore, he maybe be good at understanding corporate psychology but he doesn’t understand the real World.
    He made a point that people in Russia die there if they disagree with Putin, I guess he can’t see The Clintons political dealings because he is stuck in his own narrow thinking. Even though he claims to know very little about Putin.
    Trump has been isolated in his own country by both political parties, the media, and by every other group controlled by the deep state. Now we are seeing a Grand Jury Investigation being launched against him and his family members, using the same red scare tactics that The American political machine has deployed since The Bolshevik Revolution of 1917. With all the leaks and investigations, Trump has been isolated by his own country. Have you ever wondered why people who live alone believe that their own thoughts and actions are correct, it’s because they have isolated themselves and nobody is there to challenge them. In Trump’s case he has been excluded at every turn and just to soldier on takes a lot of determination and strength of character.
    As far as Putin being narcissistic and isolated, I don’t believe for one moment that Dr. Moore has even thought about how the situation in The Middle East has developed and how Putin’s support of Syria is correct and well thought out. DT

  9. On August 5, 2017 at 8:04 am,
    Excelsior says:

    Fran Six still putting out good info over at ceo.ca.
    ___________________________________________________________________________

    @F6 Re: $Gold Weekly

    Well, the genie managed to be stuffed right back down the bottle. This despite the huge volume and accompanying volatility on the gold price volatility chart.

    I moved the down trend line up a notch to denote the highs.

    Another line that required re-adjustment was the blue line on the momentum indicator of the ADX.

    It was suggested a few months ago that this momentum indicator would never see a low as it had in 2009. The momentum indicator will probably now see a low as it had in 2009 before a major rally.

    Note that the rally in 2009 was out of the financial crisis, the latter-day Rich Man’s panic, where circumstances were that all markets rallied on central bank liquidity and the circumstances now are that the stock market continues to rally while commodities are depressed.”

    http://schrts.co/RlXHcK

    -F6

    • On August 5, 2017 at 8:06 am,
      Excelsior says:

      *re-posting for those that may have missed this yesterday

      Gold Stocks’ Autumn Rally 2
      Adam Hamilton – Aug 04, 2017

      “The gold miners’ stocks have suffered a lackluster year so far, mostly lagging gold’s solid new upleg. But that vexing underperformance should soon give way to a big catch-up surge. The deeply-out-of-favor gold stocks are now entering their strong season, which starts right about now with a powerful autumn rally. That generates major gains on average in bull-market years, and this year’s upside potential is exceptional.”

      “Seasonality is the tendency for prices to exhibit recurring patterns at certain times during the calendar year. While seasonality doesn’t drive price action, it quantifies annually-repeating behavior driven by #sentiment, technicals, and fundamentals. We humans are creatures of habit and herd, which naturally colors our trading decisions. The calendar year’s passage affects the timing and intensity of buying and selling.”

      http://www.321gold.com/editorials/hamilton/hamilton080417.html

      • On August 5, 2017 at 8:21 am,
        Excelsior says:

        Tactics For Volatile Resource Stocks

        Morris Hubbartt – Aug 4, 2017

        Super Force Precious Metals #Video #TechnicalAnalysis

        (double click on the several blue links to see the Videos and #Charts in action):

        http://www.321gold.com/editorials/sfs/hubbartt080417.html

      • On August 5, 2017 at 8:24 am,
        Dick Tracy says:

        I know you are not mad, but I hope you are instead inspired by a genius for mass psychology. Anybody who has chosen this moment to predict that we will see ” A Big Catch-Up Surge” that would make all that has happened this summer seem trifling could be viewed as a bit “Mad”. So many other forecasters are advising caution but you I can see you believe in Calvin Coolidge Prosperity. Maybe The gold miners stocks are about to enter into a sensational phase. Gotta like your enthusiasm! LOL!

        • On August 5, 2017 at 8:38 am,
          Excelsior says:

          I’m most surely “mad” as in Mad Scientist or Mad Hatter….. and yes I believe in we’d be better served by a little Calvin Coolidge Prosperity. 😉

          I hear the many other forecasters that are advising caution, and I mentioned the last 2 weeks that the US Dollar was oversold technically and due for a relief rally. Where I differ, is that I don’t believe the Greenback will go screaming higher back up to 103-104, and question where they believe that dollar strength is going to come from(?) My projection is the that US Dollar will work off a few oversold indicators make a little run, and the metals and miners will correct in kind. However, it will likely be short-lived, and the Dollar will head back down and I believe break support around 92 and plunge into the high 80s.

          The next dollar plunge will be the fuel to kick off the metals rally and the miners have a lot of catching up to do. Synchronistically….. That will time out well for a rally in late August moving into September & October.

          __________________________________________________________________

          Here is a 20 year Seasonality chart in Gold. You’ll notice, if you think back how many years like 2010, 2011, 2014, 2015 and also this year seem to track this chart reasonably well.
          (Obviously, this is aside from 2016 which was the outlier year where the move up in the 1st Half of the year was so strong it rallied in summer up through many prior peaks & troughs and Moving Averages of great significance signalling the end of the Bear market; and then consolidating that move over the last year) When people point to 2016 and say it didn’t follow this year they either have recency bias, a bad memory, or are ignoring how often that the Season trends play out fairly regularly.

          While no 2 years are the same, and we are in uncharted waters, History does rhyme:

          __________________________________________________________________________

          #Gold Futures – 20 Year #Chart ending (12/31/2015):

          http://charts.equityclock.com/seasonal_charts/futures/FUTURE_GC1.PNG

          • On August 5, 2017 at 8:55 am,
            Chartster says:

            I agree with your assessment, Excelsior. The dollar will be heading south after this nice bump it’s about to get. I think this is the final washout in gold as well. It looks like about a three week washout in gold and bump of the dollar.
            The story will be the euro and the EU, as it’s about to get crazy over there. PMs, AMZN, and the euro are all heading south in a major way. Those charts look pretty sick…

          • On August 5, 2017 at 9:20 am,
            Excelsior says:

            Thanks Chartster and great points. We are looking at things in a similar way regarding the dollar, and while this current correction in the PMs & stocks is starting to wash out sentiment, I expect this to be short-lived and for the trends to reverse by month’s end.

            As for the Euro, it has been stronger than some have planned on, but also the Canadian and Australian dollars have crept up a bit to little fanfare. This has contributed to pressuring the dollar, yet few have discussed that.

            The Yen is used for the carry trade as a currency of choice, so it has expanded beyond what the Japanese government does, and is just a tool now massaged by the hedgies and large banks.

            This fall should be a turbulent time, and that is the point of the Summer Doldrums as things don’t have to sell off hard, they just get boring. People keep saying, “Boy things didn’t sell off too bad in the miners in for this Summer Doldrums…” They aren’t supposed to get jacked up, they just trend sideways to down, and then seasonally there is a big push into a Fall Rally.

            Whatever happens, I believe volatility in many sectors will stir up the waters and trading will be choppy. That’s the way I prefer it anyway, as it is hard to make money trading in boring sideways channeling markets. We need the downs to buy and the ups to sell into.

            Cheers and good trading to you sir!

          • On August 5, 2017 at 9:34 am,
            b says:

            we have had a few “final” washouts over the last few years.

          • On August 5, 2017 at 10:08 am,
            Excelsior says:

            Personally, I believe the “Final Washout” was back in December of 2015 for the metals, and Jan 19th 2016 for the Miners and have been very consistent in that view since the key prior peaks & troughs and a number of moving averages were taken out during the first half of 2016 for confirmation.

            There are many still waiting on the final washout, but from my perspective it already came. It is August 2017 and that metals low was back in Dec 2015. It’s been over a year and half since then and if there was a final washout to even lower lows, then it would have played out during that time frame.

            The sentiment wash we are getting now is what is necessary to finish the capitulation, and end the year long sideways to down digestion of last years gains and consolidation.

            We don’t need nearly as large of a spike down after a year of grinding sideways that some contributors here regularly go on about; but we do need a blip down to get the money on the sidelines in and buying, and then the fall rally will get underway.

            Keep in mind the market already had the GDXJ rebalance mess, which sucker-punched a number of solid companies. In addition, the miners were already under-performing their expectations when the metals held up fairly well.

            A great deal of the quality Gold & Silver Mid-Tiers are available at prices we haven’t seen since earlier in 2016, so if there is one more minor sell-down in these quality stocks, then wise investors will get off the sidelines and start buying into the sector again at much lower valuations than we’ve seen in a year.

          • On August 5, 2017 at 1:07 pm,
            OOTB Jerry says:

            there is no “wash out”……just continued wash and rinse……….. 🙂

          • On August 5, 2017 at 1:08 pm,
            OOTB Jerry says:

            When this thing goes……..no one will be able to jump on……..to the moon baby , to the moon…………. 🙂

          • On August 5, 2017 at 2:10 pm,
            Excelsior says:

            Wash and rinse cycle….. good “Clean” money…..

    • On August 5, 2017 at 10:13 am,
      Excelsior says:

      Miners: Are we in for a final flush?
      The Hedgeless Horseman – August 5, 2017

      “This past week ended on a negative note for the mining indices since GDX and GDXJ seem to have been rejected at the down trend ceiling once again (even though some big individual names have pretty bullish charts):”

      “GDX:GLD is signalling that we are about to see a fairly strong move soon, as the pattern has been consolidating for a while now:”

      “My personal view (which is Long Term Bullish) is that IF DO NOT see a clean break to the upside “soon”, I am thinking we might see a similar “fake out” first as happened before the impressive rally H1 2016:”

      http://www.thehedgelesshorseman.com/gold-silver-stocks/miners-final-flush/

      • On August 5, 2017 at 10:19 am,
        Excelsior says:

        @Goldfinger – “Significant divergence between Gold price and $GLD tonnes in recent weeks:”

        http://cdn.ceo.ca/1cobpjt-IMG_7617.JPG

        • On August 5, 2017 at 10:35 am,
          Excelsior says:

          @Goldfinger – “This is absolutely amazing, $VIX futures net short positioning reaches another record but it’s still a measly US$1.6 billion notional: ”

          “Because the VIX is so low, it takes many more contracts to achieve the same delta exposure to the VIX”

          “In the event of a sharp rally in the $VIX those speculative futures shorts are going to be torched very quickly. It will literally be a short covering stampede.”

          4 Aug 2017, 21:21 —- Goldfinger (CEO Technician)

          http://cdn.ceo.ca/1coaal9-IMG_7612.JPG

    • On August 5, 2017 at 2:21 pm,
      Excelsior says:

      By This Measure The Current Stock Market Bubble Is Far Bigger Than The Dotcom Bubble

      Jesse Felder – August 2, 2017

      https://thefelderreport.com/2017/08/02/by-this-measure-the-current-stock-market-bubble-is-far-bigger-than-the-dotcom-bubble/

  10. On August 5, 2017 at 8:05 am,
    Ebolan says:

    Psychological makeup of our politicians?

    One word: sociopaths.

    The very essence of government is coercion and brute force. You must obey every edict, ordinance, law, regulation, mandate and pay to the penny every tax, fee, assessment, penalty and fine that every politician and bureaucrat and every other gooberment employee demand.

    If you don’t, men with guns will come to lock you up in a cage with violent inmates and if you resist you will be killed.

    And politicians are at the head of this institutional tyranny.

    Only a sociopath would be attracted to that kind of power.

    • On August 5, 2017 at 9:37 am,
      b says:

      I agree Ebolan.
      Think anyone else notices?
      How about the Dallas cheerleaders? for example.

    • On August 5, 2017 at 5:37 pm,
      Ozibatla says:

      Here here Ebolan!

    • On August 6, 2017 at 7:32 pm,
      Steven Rowlandson says:

      Psychopath would seem to be more accurate. What the politicians and their handlers or backers are doing is not by chance or very chaotic. What they do is done with forethought and malice and they don’t give a damn about morality or the consequences of their actions. They are in and everyone else is out and to them that is all that matters apart from their agenda. To them self interest rules all.

  11. On August 5, 2017 at 8:07 am,
    Silverdollar says:

    Thanks guys. Really enjoyed Chris Martenson. He has the ability to explain economics in a fashion that’s so understandable. Makes one wonder why our president and congressmen are all so very stupid on the subject. JMO

  12. On August 5, 2017 at 8:27 am,
    BDC says:

    Platinum: It’s possible that the auto industry is in the process of retooling for a partial switch back to it.

    • On August 5, 2017 at 8:42 am,
      Excelsior says:

      BDC – I believe that makes a great deal of sense, because the reason for Palladium’s rise was primarily as a replacement to the higher cost partner Platinum. With Platinum trading a such a low valuation relative to Gold and near parity with Palladium, it is an advantageous time for them to switch back Platinum on the cheap.

      • On August 5, 2017 at 8:44 am,
        Excelsior says:

        Platinum has all the fundamental momentum at this time to blast higher and I’m sure most monkeys in the main stream media will be scratching their heads saying…. “Wow, what’s going on with Platinum….and Why?” (lol)

  13. On August 5, 2017 at 8:56 am,
    Excelsior says:

    It is erroneous to say all silver miners need $18.50 to be profitable.

    > The AISC for (USAS) Americas Silver is dropping from $12-$10 down to $3 when San Rafael comes on line (that mine will actually have negative AISC due to all the base metal credits).

    > (SVM) Silvercorp still has an AISC down around $3-$4 per ounce.

    > (EXN) Excellon is reducing their AISC from $19 down to $9 now that their dewatering of the mine has been achieved (less pumps, and access to more high grade stopes).

    > (ASM) Avino Silver and gold just put out their quarterly results this last week and had this to say:
    “Consolidated all-in sustaining cost (“AISC”)2 was $10.42 per payable silver equivalent ounce”

    > Heck, even (AG) (FR) First Majestic, on their bad news was raising their AISC from $11-$12 up to $14 per ounce.

    *** So there are plenty of companies operating down in the $3-$14 per Silver ounce cost bracket. I don’t have time to go through each company and post their AISC, but hopefully this illustrates the point well enough.

    To keep broadcasting that the whole Silver mining sector needs $18.50 or higher to break even is simply not true, but a commonly held misconception.

    It isn’t trendy or cool to buy Jr Silver Mining stocks here but that’s precisely why I’m adding to my positions so aggressively. See ya at the top…..

    • On August 5, 2017 at 9:04 am,
      Excelsior says:

      Regarding Silver stocks – I’m always blown away by people that shun them for Gold stocks.

      First of all Silver is more volatile than Gold, and so it typically outperforms Gold both to the Upside and Downside. So if an investor in bullish on Gold, it lacks common sense that they would not also be even more bullish on Silver. (unless they don’t like outperformance to the upside)

      The same goes for the Miners. In 2016 the ETFs (SIL) and (SILJ) outperformed both (GDX) and (GDXJ) by a fair margin, and yet investors extol the virtues of Gold stocks and snub the Silver stocks. Why wouldn’t you want to have shares in the ETFs or stocks that are going to perform the best (???) 🙂

      We’ve discussed this a few times, but early in 2016 there was a video segment with Brent Cook and Mickey Fulp at the bar where they called all Silver investors crazy conspiracy theorists and went as far as calling people that invest in Silver miners “Wingnuts.” Otto & Peter Brandt also mock Silver mining investors all the time as well.

      It’s pretty funny, because when buying the Silver miners in Tax Loss selling in Dec 2015 and going in big in Jan/Feb 2016, I seem remember many of the Jr Silver Producers and Developers and Explorers going up 500%-1000% in 2016 and trouncing the returns of the picks that group had that went up more like 200-300%.

      I just don’t get it….
      >> How was missing another 300-700% by not having positions in the highly leveraged Silver stocks a better plan Gold mining purists?

      (here’s a clue…… it wasn’t).

      *—-> In a strong Bull market Silver outperforms Gold, and the Silver miners outperform the Gold miners. The Junior miners outperform the Senior miners. It isn’t rocket science to deduce that owning Jr Silver Miners gives one the most leverage to a Precious Metals bull market, and I’m encouraged by how many investors still struggle to get this concept. This makes it possible to keep acquiring Jr Silver miners on the cheap before we see action like 2010-2011 and H1 2016 again.

      • On August 5, 2017 at 9:07 am,
        Excelsior says:

        Now in a corrective market, like we saw today, the inverse is true and Silver miners get hit far worse than gold miners, and the Jrs are hit harder than the Seniors.

        The question really is, when the worm turns and the metals rally begins, would an investor be better served in a basket of Jr Silver stocks or and ETF like (SILJ) or the Gold stocks in an ETF like (GDX) or (GDXJ). The evidence is pretty clear which one will have the larger returns.

        Don’t get me wrong, I have a large chunk of individual Gold Producers, Developers, and Explorers in my portfolio as there are individual stories that look likely to outperform their peers, but that is true in Zinc, Copper, Platinum, Uranium, Lithium etc….

        However, for a Precious Metals investor to snub Silver miners just tells me that those investors aren’t sold on the Bull market when the upturn begins in earnest. If Silver is going to outperform Gold to the upside, and the Silver miners are going to outperform the Gold miners as an overall statement……then where should investors bullish on the PMs really be positioned?

        • On August 5, 2017 at 9:10 am,
          Excelsior says:

          There is one last component of Silver miners at present, that is particularly under-covered, not factored in, and quite puzzling .

          That is that for the last year Zinc, and it’s companion metal, Lead, have been absolutely the rage in the Base Metals space.

          There are so many new Zinc mining stories, or Silver miners that turned into Zinc miners, etc…. that it is mind blowing.

          * Here’s something to consider:

          That vast majority of Silver miners have both Zinc and Lead co-products that will be at much higher levels over the next few quarters (and some say 1-3 years). If that is the case, then we should start seeing a trend over the next few quarters of more and more Base Metals credits, driving down the costs.

          May prosperity favor the Wingnuts!

          • On August 5, 2017 at 12:16 pm,
            Shootingfish says:

            +1 to Ex, front man of the Wingnuts!

          • On August 5, 2017 at 1:58 pm,
            Excelsior says:

            haha!!

          • On August 5, 2017 at 4:11 pm,
            Bonzo Barzini says:

            Nelson and Bunker Hunt are ahead of Excesior and me, but our belief in silver wil be vindicated.

          • On August 6, 2017 at 9:24 am,
            Excelsior says:

            Bonzo Barzini – Yes, Silver and Silver mining stocks moves over the next few years will vindicate our investment thesis, and it is far easier to imagine it doubling from here than Gold doubling from it’s current level.

    • On August 7, 2017 at 8:38 am,
      Excelsior says:

      Four Top Primary Silver Miners Production Plummets

      SRSROCCO IN MINING- August 4, 2017

      “According to recently released company data, silver production declined between 20-34% from these four primary silver miners during the second quarter. The company that suffered the biggest decline in silver production was Hecla at -34%, followed by Endeavour Silver at -26%, Silver Standard at -24% and First Majestic with a decrease of 20%:”

      https://srsroccoreport.com/stunning-results-four-top-primary-silver-miners-production-plummets/

  14. On August 5, 2017 at 9:04 am,
    BDC says:

    An interesting side note of the McCarthy era is that many Trotskyites, later to become neocons, became “anti-communist”.

  15. On August 5, 2017 at 10:26 am,
    b says:

    Fundamentally there is no reason to own gold right now.
    Well, its a great time to buy.

    • On August 5, 2017 at 12:15 pm,
      CFS says:

      b,
      There are reasons fundamentally to own gold and reasons not to own gold.

      I find it difficult to predict price movements over intermediate time periods.

      But in the long term……..(decades)…….I would expect gold to hold its value better than every fiat currency. Would that not be a fundamental reason to own gold?

      For the near future, after a few weeks, I would predict the US dollar to decline further.
      (I believe the dollar is currently rising against the longer term trend, because it was excessively oversold)
      Would that not be a reason to hold gold in the near future?

      • On August 5, 2017 at 5:23 pm,
        b says:

        cfs, I was just repeating what doc said.

        I still believe there are reasons to own gold, altho I could be wrong.
        Ive mentioned more than a few times this “to the moon” bs, any day now here we go crap should stop, it just makes people look like frauds, and with that reasoning maybe they are.
        I have always said that people should simply be told the truth as to why they should consider gold and I believe people would understand, no bs required.

        But, thats what blogs and these sites do, try to get people excited.
        They are ALL dependent on PM sales, so its ALWAYS a good time to buy.

        Here is a basic fundamental reason to own gold, about every 35 yrs dollars lose about 1/2 their purchasing power.
        There are other reasons of course but thats a pretty good one I think.

        Course, who cares when your 18?

  16. On August 5, 2017 at 12:05 pm,
    CFS says:

    I am not an economist, but I could not disagree with Chris Martenson in Segment 8 more.

    If a country has a negative trade balance with the rest of the world, the currency of that country is too high.

    If the country maintains that “too high” currency, it will be slowly “selling/giving” the wealth of that country to the rest of the world.
    This is not a sustainable behavior in the long run.

    I believe Mr. Martenson is looking only in the short term and not a “steady state” or long run solution.

    • On August 5, 2017 at 1:35 pm,
      Matthew says:

      I didn’t listen to the segment but a strong currency is a good thing. It is generally wise to reject what establishment economists are peddling.

      https://mises.org/library/blessing-strong-currency

      • On August 5, 2017 at 2:01 pm,
        Excelsior says:

        Completely agreed. A weaker currency may help some trade exports, but it punishes the citizens when the prices of goods go up. I’ll take the strong dollar and cheap goods, as well as discounts when traveling abroad due to the currency exchange. I loved going to Canada when it was $.74 to $1, everything was on sale…. 🙂

        • On August 5, 2017 at 2:21 pm,
          Dick Tracy says:

          Just think of how many chicken wings an American could buy in a sports bar when he wings it to Canada. With all that sauce you will also need a bucket of beer to wash them down. YEAH BABY, Wing on! LOL! DT

          • On August 5, 2017 at 2:25 pm,
            Excelsior says:

            Haha! Yes, Wings & Beer Buckets at 74% of the Buck. Wing On!! (lol)

            P.S. – So were hotel rooms, gasoline, ferry boat shuttles, clothes, gifts, seafood and glasses of wine. A pretty sweet deal……. yeah, I like the strong dollar even if the FED doesn’t.

            Do the opposite!!

          • On August 5, 2017 at 2:29 pm,
            Excelsior says:

            That’s my point… now its 79% of the buck and everything is going up in price.

            The arbitrage is being compressed. This is important because it also affects costs at the miners operations or the economics of a developer.

          • On August 5, 2017 at 2:30 pm,
            Excelsior says:

            If they are in Canada or Australia.

          • On August 6, 2017 at 7:03 am,
            Wolfster says:

            No matter where the dollar is,the beer is still not that watered down version they make in the states.😉

          • On August 6, 2017 at 9:38 am,
            Excelsior says:

            Wolfster – The craft beer movement over the last 15 years now offers hundreds and hundreds of options from quality microbreweries, beyond the watered down nasty excuse for beer that the US was plagued with for the last 140 years.

            I find that most Canadians or Europeans that haven’t really “tapped” into the Micro-brewery scene in the US are ill-informed, and I’d put many US breweries up again the Canadian or Belgian or German beers any day of the week now. I’ve imbibed just about every kind of “Authentic” Belgian beer, German beer, British, Irish, Scottish beer, and while they used to be a welcome reprieve from American yellow peewater beer…. now I actually prefer all the new generation of brewers that have even better Stouts, Porters, Belgian, Saison, Pale Ale, India Pale Ales (IPAs), Kolschs, PIlsners, and Bocks.

            It’s a brave new world out there in markets for Liquid Bread. 🙂

          • On August 6, 2017 at 9:44 am,
            Excelsior says:
          • On August 6, 2017 at 10:27 am,
            Wolfster says:

            I’ll admit to not having had a chance to sample any over the past few years as I have travelled through Europe instead.figure I better get my European bucket list done before it gets too bad over there…..I will say I always enjoyed a Samuel Adams when the opportunity and desire presented itself..

          • On August 6, 2017 at 11:03 am,
            Excelsior says:

            That’s probably a good idea to do the European bucket list before they kick the bucket.

            Sam Adams is only OK in comparison to the ever growing droves of craft beer companies exploding in almost every city in the country. My buddies and I spend thousands of dollars each year importing beers in from all over the world, and I’ve meticulously gone through many countries to try as many as I can get my hands on from Germany, Belgium, Great Britain, Canada, Thailand, Carribean Islands…. the works. I’d honestly put up many of the newer Craft breweries against a vast majority of what I’ve tried, but there are amazing beers or wines or liquors in all corners of the world.

            If you do come back to the states there are so many great breweries now that many are still unaware of like Founders, Cigar City, Lagunitas, Stone, Southern Tier, Green Flash, Bells, Dogfish Head, Redhook, Elysian, Evil Twin, Terrapin, Mayday, Southern Grist, Rogue, Caldera, Highland, Wicked Weed, Devils Backbone, Great Lakes, Palmetto, Holy City, Westbrook, Oscar Blues, Pike, Bridgeport, Sierra Nevada, Ommegang, 3 Floyds, Ballast Point, etc……

          • On August 6, 2017 at 11:09 am,
            Excelsior says:

            Most cities have a dozen or more Microbreweries with more popping up each day, and some cities now have 50-100. It’s a pretty wild scene, and from a business perspective, I wonder how much more room in the marketplace there is for all of these new startups. In many ways the micro-breweries are like the Junior Miners, and the old large boring companies are like the Majors. The large companies are losing market share (because they quit focusing on “Exploration”) and now they are buying up the smaller Jr. Micro-breweries, that have come up with interesting recipes or branding or a following. It’s a very interesting business and phenomenon at the present.

    • On August 5, 2017 at 1:38 pm,
      Matthew says:

      You can’t get more establishment than The Economist. (Is that red square trying to tell us something?)

      https://www.economist.com/news/leaders/21711041-rise-greenback-looks-something-welcome-ignore-central-role

    • On August 5, 2017 at 1:39 pm,
      Matthew says:

      Bad Idea: Devaluing Currency to Help Exporters

      https://mises.org/library/bad-idea-devaluing-currency-help-exporters

  17. On August 5, 2017 at 1:42 pm,
    CFS says:

    Matthew, I would suggest that is important what is the cause for strength.
    If a currency is strong because the economy is strong and exports are good, that is one thing. But if the currency is strong because central banks are rigging the numbers, while the economy is weak and exports are poor, that is another.
    It is my belief that there is total collusion between the various central banks in their QE cycles.

    • On August 5, 2017 at 3:07 pm,
      Matthew says:

      The CBs definitely collude and their very existence means that all currencies are manipulated.

      • On August 5, 2017 at 5:44 pm,
        Ozibatla says:

        Agreed guys. CBs collusion is all in the name of an alterior motive. They (along with the government) dont really care about a nations economy or an individuals weslth. Nor should they as they are never held to account.

  18. On August 5, 2017 at 3:27 pm,
    CFS says:

    https://www.youtube.com/watch?v=Lp-s2hvoWkA

    The truth comes out slowly.

  19. On August 5, 2017 at 3:29 pm,
    CFS says:
  20. On August 5, 2017 at 3:30 pm,
    CFS says:
  21. On August 5, 2017 at 3:33 pm,
    CFS says:
  22. On August 5, 2017 at 10:06 pm,
    b says:

    Watching the news tonight, I wonder how long it takes until people on this blog see the warming?
    I know people here think its imagination.

    • On August 6, 2017 at 3:13 am,
      JMiller says:

      What warming?

    • On August 6, 2017 at 8:23 am,
      CFS says:

      b,
      You do realize that the Satellite temperature ACTUAL results from NASA show a decrease in temperature for the last two years.
      Of course, they have not been publicized by the media, although I did report that fact when NASA produced the latest numbers.

      • On August 6, 2017 at 12:11 pm,
        b says:

        2016 Climate Trends Continue to Break Records | NASA
        https://www.nasa.gov/feature/goddard/2016/climate-trends-continue-to-break-records
        But in 2016, even as the effects of the recent El Niño taper off, global temperatures have risen well beyond those of 18 years ago because of the overall warming …

        Thats from a quick google, multiple articles from nasa saying the temperature is increasing.
        Ive read enuff so Im not reading more.

        The reason I mention was the news the other night was saying is record heat in europe, I guess more people than usual are dying from the heat.
        They say when we get extended periods of 35 we really going to see people dying.

  23. On August 6, 2017 at 10:33 am,
    Wolfster says:

    Alright I finally found a link that works for the Rick Rule bnn market call episode.Has a few of the plays discussed here even novo….
    http://www.bnn.ca/rick-rule-s-top-investing-ideas-july-31-2017-1.818437

    • On August 6, 2017 at 10:40 am,
      Wolfster says:

      I will also repost the newsletter that comments on Excelsior in case any missed it.I never know where to post things during the week with the various topics going on.Starts on pad 21 and also I spoke with company during the week. They anticipate first permit around middle of august with other permit to follow shortly thereafter.Once permits are in plac the financing for construction will follow fairly quickly.If there is any equity issue as part of the financing 50% will be taken down by Greenstone as they wish to retain their control..
      http://www.mjgcapital.com/wp-content/uploads/2017/08/July-2017.pdf

      • On August 6, 2017 at 11:43 am,
        Excelsior says:

        Thanks for the update Wolfster. Excelsior is humming right along…

        • On August 6, 2017 at 12:08 pm,
          Excelsior says:

          After they get their permits and do their next financing, the finish line will be in sight.

          • On August 6, 2017 at 12:09 pm,
            Excelsior says:

            Dr Copper has been playing his part nicely as well this year.

    • On August 6, 2017 at 10:43 am,
      Wolfster says:

      Btw Ex the top pick was Bonterra and somewhere else I saw Alexandria getting chatted up nicely…makes gzz possibly getting interesting again although the warrants are a definite overhang on the price

      • On August 6, 2017 at 11:49 am,
        Excelsior says:

        Yes, I like that whole area play around the Osisko Windfall deposit, and Bonterra has some good land around it and has been doing well with their exploration lately. Beaufield is another explorer in that area hitting some good results.

        Personally, I’ve got a position in Metanor Resources that is adjacent to the Osisko land package, and they are a small Producer that will have improving production and margins moving forward, as well as similar exploration upside to the aforementioned companies.

        ______________________________________________________________________

        Here is a MAP of this area play, to get a visual on where the companies are located:

        http://goldrea.com/wp-content/uploads/2015/04/argosmap.jpg

      • On August 6, 2017 at 11:52 am,
        Excelsior says:

        Also, RZZ has been getting a bit more attention lately, so that is a good thing for GZZ.

        • On August 6, 2017 at 12:03 pm,
          Excelsior says:

          Canadian Malartic Mine Royalties & Corporate Update
          July 31st, 2017 (RZZ) (GZZ)

          http://abitibiroyalties.com/news/2017/july31/

        • On August 6, 2017 at 5:54 pm,
          Wolfster says:

          I think Ian Ball is due for call again for a little update…thanks for the area play breakdown

  24. On August 6, 2017 at 2:54 pm,
    Excelsior says:

    Large pit growing in size and grade
    3 August 2017 – Blackham Resources Ltd (BLK.AX) (BKHRF)

     Open pit resources within an A$1,800/oz pit shell for East and West
    lodes now sit at 8.5Mt @ 2.83g/t for 770Koz (76% Indicated)
    o high grade for an open pit
    o 23% increase in diluted grade from previous model
    o 80% of the resource falls into a A$1,400/oz pit shell
    o Pit designs and Ore Reserves are nearing completion
     Open pit resources for all the Wiluna lodes now 12.9Mt @ 2.8g/t for
    1.2Moz

    > Managing Director Bryan Dixon said “Since drilling commenced in September
    last year a total of ~$4M has been spent on Resource and Reserve definition
    drilling on the East and West lodes. In this time the Mineral Resource has
    grown 860% in less than a year from 80,000oz to 770,000oz of which 76% is
    classified as Indicated. This represents a very attractive resource addition
    cost of $5.80/oz. This large resource base provides a very solid basis for the
    expansion plans with the Expansion PFS to be released this month.”

    http://blackhamresources.com.au/wp-content/uploads/2017/08/Large-Pit-Gowing-in-Size-and-Grade-1-1.pdf

  25. On August 6, 2017 at 2:59 pm,
    Excelsior says:

    @Goldfinger – “US Dollar Index Weekly tests rising 200-week moving average from below lower Bollinger Band, prints ‘hammer’ candlestick which needs confirmation this week:”

    http://cdn.ceo.ca/1cof3os-USD_Weekly_8.6.2017.png

  26. On August 7, 2017 at 10:53 am,
    Bill says:

    I TOLD YOU SO GOLD BUG NUTS..3 years pounding the table while gold bugs pound the table about a DOW crash……You missed out an a ton $.
    Gold stocks still in the crapper…..dangerous stuff I said. Bob Moriartys WRONG WRONG calls. YEARS ago he said gold stocks would be the next GOOGLE…REALLY when??…absolutely useless info from him. Its not the end of the states maybe at some point but as I said years ago.. IT IS THE GO TO PLACE MONEY NEEDS SAFETY and everyone else is in way more trouble…..I could write a book but have no time. Chow and watch out for the guru’s

    • On August 7, 2017 at 11:22 am,
      Wolfster says:

      My account says I made 110% return last yr and all I owned was gold zinc and copper so I guess I should be quite happy.

  27. On August 7, 2017 at 11:01 am,
    Bill says: