General Market Commentary – Thu 23 Nov, 2017

Ned Schmidt Answers Questions On Bonds And Fed QT

Ned Schmidt send an email to subscribers earlier this week outlining some questions he has been receiving from subscribers. The questions focused on how the Fed went about buying bonds during the QE program and how an unwind will actually look. Here are the questions and answers.

Why are they unwinding the balance sheet and what could happen if they did not?
When Fed Res bought bonds from bank it credited electronically the account of the selling bank at Federal Reserve.
Banks hold because of QE roughly $2.3 trillion at the Federal Reserve.
Nothing can stop banks from lending those reserves out.
More than $3.5 trillion of money could be created by lending out those reserves.
That potential amount of money would cause US inflation to rise.
 
Who holds these bonds?
The bonds are held, owned, by the Federal Reserve.
They are “held” for them electronically by the US Treasury.
No paper US bonds exist.
 
I suppose to unwind their balance sheet means they will try to flog off some bonds.
They will not sell any bonds.
They will simply let some bonds mature without reinvesting the proceeds.
 
The money has been “printed” already hasn’t it?  
NO money was printed, in any way, when the bonds were bought.
Fed Res simply credited the account of the selling bank at the Federal Reserve when they bought the bonds.
That money was printed was one of the great myths of QE.
 
thanks,
ned w. schmidt,cfa
the value view gold report

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Ned Schmidt
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Comments:
  1. On November 23, 2017 at 3:14 pm,
    james says:

    The Ultimate ( INTRET TO CENTRAL BANKS ) ! Happy Thanksgiving ! WESTERN WORLD ! https://www.youtube.com/watch?v=BZlfVOiXVSY

  2. On November 23, 2017 at 6:11 pm,
    CFS says:
  3. On November 23, 2017 at 7:22 pm,
    CFS says:
  4. On November 23, 2017 at 8:09 pm,
    dragonite says:

    If Excelsior is here, do you known how to find podcast about Uranium? especially from Main Katusa

    • On November 23, 2017 at 10:13 pm,
      Skeeta says:

      Dragonite,
      Katusa is often on Curzio’s podcast.
      You can find all his podcast archives & various guests from the past few years here.
      When Katusa is on its usually about his Gold, Uranium, Copper etc companies that he is invested in.

      https://www.frankcurzio.com/archives/

      IMO some of his guests are well worth listening to….just as some are not.
      But anyhoo, no doubt you will sort the wheat from the chaff in the archives.

      ……………

      Its late friday arvo over here,
      The Wife is away for the weekend with her girlfriends,
      The local temperature here is currently 33 Deg Celsius
      The kids are all in the pool as the water temp is 30 Deg C.
      The two dogs are asleep in the shade on the lawn,
      I’m typing this on the phone barefoot as I walk around the backyard, my 3rd ice cold beer is within a few steps & is disappearing rather quickly & won’t be the last today.
      Going to fire up the BBQ in the next hour or two.
      Life doesn’t get much better.

      Enjoy your weekend fella’s
      Cheers.

      • On November 24, 2017 at 6:21 am,
        Excelsior says:

        Skeeta – that is a great slice of life reflection and the kind of days that make it all worthwhile.

        Cheers mate!

    • On November 23, 2017 at 11:47 pm,
      CFS says:

      His most recent speech (11/18/17) is at:
      https://www.c-span.org/video/?322898-1/colder-war

      I don’t know if that is what you asked for.

      • On November 24, 2017 at 12:30 am,
        CFS says:

        Discussion of Uranium starts at about 40 minutes.

        • On November 24, 2017 at 6:19 am,
          Excelsior says:

          Just mulling over Uranium:

          Personally, I believe over the last year we just saw a massive double bottom in the Uranium space, and we’ll see the spot prices gradually claw their way higher over the next year or so followed by a sudden spike up in prices about 2 years out.

          The $18 low we saw in Uranium last year at this time with the first Kazakhstan cuts, the Trump tweets about Uranium, and a few Japanese restarts formed an initial bottom, followed by the $18 bottom just a few months ago where now we have the Cameco cuts, Abe won the Japanese election = continued restarts, and we had the Uranium One story breaking in politics keeping Nuclear energy on top of a larger field of people’s to of mind awareness. A double-bottom is solid base building technical pattern and it appears to be in for Uranium.

          It is interesting that last year at this time and a few months ago at both low points that we a triple-whammy:

          1) Supply cut (Kazakhstan 2016 / Cameco 2017)
          2) Demand increase (first Japanese restarts 2016 / Abe wins 2017 + China 6 new reactors)
          3) Uranium in News: (Trump tweets on nuclear 2016 / Uranium One story 2017)

          Sure there may be the initial surge up into the first quarter run, followed by a sell off, but I don’t expect to see the $18 level tested or broken lower on a move-forward basis. The real trigger for the Uranium sector will be when the demand increases to the point where the utility companies want to renegotiate their contracts with U miners and they do long-term off-take supply contracts in the $40s-$60s.

          • On November 24, 2017 at 6:58 pm,
            dragonite says:

            Great. We are on our way. I have endured losses for the last 6 years waiting for this moment. I have been believing it will eventually happen. I force myself to buy some every month. Hope I am not alone.

          • On November 24, 2017 at 8:03 pm,
            Excelsior says:

            If nothing else there is typically a nice little run in Uranium stocks from late November through Feb, so it could still pull back and languish a bit more next year, but it might be good for a nice Q1 run swing trade in many stocks.

    • On November 24, 2017 at 6:26 am,
      Excelsior says:

      Hey there dragonite. Just saw the response as I spent the day with my family yesterday for Thanksgiving.

      It looks like Skeeta answered your question on the Marin Katusa Podcasts.

      I’ll throw out two more good resources. Palisade Radio has regular interviews on Uranium, and ceo.ca is the #1 tool I use now for speculating on any mining stocks, due to the shared knowledge base of company executives, geologist, engineers, newsletter writers, and a range of different investors.

      Here is a link to the Uranium room over at ceo.ca:

      https://ceo.ca/uranium

    • On November 24, 2017 at 9:16 am,
      Excelsior says:

      ANFIELD RESOURCES TO EVALUATE VANADIUM POTENTIAL AT ITS VELVET-WOOD MINE

      21 Nov 2017

      “Anfield’s prospective energy partners have shown a greater interest in the Company’s vanadium assets due to the significant upturn in the vanadium price this year – from US$4.00 to US$22.60. Anfield is also exploring the feasibility of including a vanadium circuit on its Shootaring Canyon uranium mill, which would allow it to process vanadium.”

      http://anfieldresources.com/anfield-resources-to-evaluate-vanadium-potential-at-its-velvet-wood-mine/

      • On November 24, 2017 at 6:40 pm,
        dragonite says:

        Thank you all very much.

  5. On November 24, 2017 at 7:12 am,
    OOTB Jerry says:
    • On November 24, 2017 at 7:19 am,
      OOTB Jerry says:

      Noticed one of these stocks is BofA……..which Warren Buffet acquired 700 million shares…Warren knows something, because he has insider info
      As, Neds said, the Banks can now loan the money out……with fractional reserve lending, that is about 10 times………so, who are they going to lend this cheap money.

  6. On November 24, 2017 at 7:42 am,
    OOTB Jerry says:

    Words from Gary S…………
    Four years ago I could’ve made that same statement about bitcoin. When bitcoin was under $1000 I could’ve predicted that we would see price go above $8000. I guarantee at the time everyone would’ve laughed at me, and thought I was insane. Now however, as price has continue to rise sentiment has swung 180° in the other direction, and no one can see any possible scenario where price could collapse. But I guarantee you price will collapse. Every parabolic move in history ends this way. This time is not going to be different.

    Let’s face it, anyone with a shred of common sense left can see that crypto currencies are a Ponzi scheme. Getting rich simply isn’t as easy as creating your own currency out of thin air and then watching as gullible investors bid the price up. That is a perfect example of the Greater Fool theory in action.

    The sad fact is most of the fools jump into a bubble towards the very end and then get caught when the market collapses.

    You need to ask yourself:

    Did you get caught in the tech bubble?

    Did you get caught in the real estate bubble?

    Did you get caught in the energy bubble?

    If you answered yes to these three questions, and you are now buying bitcoin after it’s already rallied 700% in the last year, then you my friend are the Greater Fool. You are unable to learn from past mistakes. You are one of the sheep that drive bubbles. You buy too late, and you hold too long.

    The time to get into a market is before the parabolic phase begins, not after it’s already rallied 700%. I don’t believe bitcoin is going to be the only bubble. We are going to have a bubble in the stock market, and I expect we will probably have a bubble in the gold market after that.

    Many, many Greater Fools are now piling into the bitcoin market.

    Those very few that can still think logically recognize that it’s too late to jump into the bitcoin bubble. Those with foresight can see the next bubble is just now beginning in the stock market. If you want to ride a bubble you need to get in early. I’ve posted the Robo ratio a couple of times in past articles. It is one of the best, if not the best single sentiment tool to judge complacency in retail investors. The Robo ratio still isn’t even vaguely close to conditions that exist at final bull market tops, much

    • On November 24, 2017 at 7:48 am,
      JohnK says:

      Those who continually focus on Bitcoin are showing their lack of knowledge when it comes to the Crypto’s.
      Gary S included. Hec Gary couldn’t even take the heat here at the KE Report when the heat got to hot.
      Bitcoin is in a Bubble,Tulip Bulbs and Beannie Babies.
      And of course NASA went to the moon.

      • On November 24, 2017 at 8:26 am,
        OOTB Jerry says:

        Not promoting either way………just thought some might be interested in what he had to say……….

        • On November 24, 2017 at 8:28 am,
          JohnK says:

          Jerry:
          You should subscribe to his letter. I’m sure he would be glad to take your money.

          • On November 24, 2017 at 8:29 am,
            OOTB Jerry says:

            Not a chance……..

          • On November 24, 2017 at 8:30 am,
            OOTB Jerry says:

            I did not fall off the turnip truck yesterday……. 🙂

          • On November 24, 2017 at 8:31 am,
            OOTB Jerry says:

            Besides……..Gary’s guru rating is only 50%

          • On November 24, 2017 at 8:37 am,
            OOTB Jerry says:

            Nice thing about being around for awhile,,,,,you discover who has the BS.

        • On November 24, 2017 at 10:33 am,
          Excelsior says:

          OOTB – Thanks for sharing the info. Much appreciated.

          • On November 24, 2017 at 3:11 pm,
            OOTB Jerry says:

            You are welcome………. 🙂

  7. On November 24, 2017 at 7:43 am,
    JohnK says:

    November is proving to be a banner month for the #2 Crypto Currency Ethereum.
    November 1, Ethereum was quoted at $291.84, today Ethereum is at $452.90
    Bitcoin Cash November 1 was quoted at $527.85,Today it is at $1,666.74
    You can hate on the cryptos,but it is hard to deny the results.

    • On November 24, 2017 at 8:28 am,
      OOTB Jerry says:

      there are going to be a lot of people who are going to make a lot of money on the cryptos…..no doubt about it.
      I do believe the second wave is coming…………..jmo

      • On November 24, 2017 at 9:00 am,
        JohnK says:

        Even if the Cryptos are over valued. Making money is making money.
        Pretty shallow I know.
        As long as you do good works with the profits,I’m good with it.

  8. On November 24, 2017 at 7:57 am,
    Excelsior says:

    Tesla completes world’s largest lithium-ion battery in less than 100 days

    Valentina Ruiz Leotaud | about 3 hours ago

    “”While others are just talking, we are delivering our energy plan,” Weatherill added. “The world’s largest lithium-ion battery will be an important part of our energy mix, and it sends the clearest message that South Australia will be leading renewable energy with battery storage.”

    Dubbed “Powerpack,” the humongous artifact is connected to a wind farm operated by French energy firm Neoen. The battery is expected to hold enough power for thousands of homes during periods of excess demand that could result in blackouts.”

    http://www.mining.com/tesla-completes-worlds-largest-lithium-ion-battery-less-100-days/

    • On November 24, 2017 at 8:11 am,
      JohnK says:

      People talk about Bitcoin being in a Bubble non stop.
      I wonder if they have any clue how much Tesla loses on every vehicle they make.
      Of course Elon Musk is the “Rocket Man” along with Jeff Bezos.
      How can you be launching rockets and not be in bed with NASA?

      • On November 24, 2017 at 8:27 am,
        Excelsior says:

        People have forgotten who the real “Rocket Man” was:

        https://www.biography.com/people/wernher-von-braun-9224912

        • On November 24, 2017 at 8:36 am,
          JohnK says:

          Mike Hughes who is launching this Saturday,is the first man to build and Pilot his own Rocket.
          Mike was a Nascar Crew Chief and was the first person to vinyl wrap a stockcar.
          This guy has some serious balls.

          • On November 24, 2017 at 8:47 am,
            JohnK says:
          • On November 24, 2017 at 8:51 am,
            JohnK says:

            He says if he makes it he is going to run for Governor of California.
            Just a heads up for Eddie.

          • On November 24, 2017 at 9:01 am,
            Excelsior says:

            I have to tip my hat to his bravado, but his dismissing of science, while simultaneously utilizing exclusively science to build his rocket is absolutely comical. Flat Earthers are just as duped and uniformed as people who believe the world is only 6,000 years old or that believe dinosaurs bones were planted in the ground by the devil to fool people. 🙂

            I wish him the best of luck though and hopes he has a safe journey.

          • On November 24, 2017 at 10:06 am,
            JohnK says:

            Did NASA go to the moon Shad?

          • On November 24, 2017 at 10:15 am,
            Excelsior says:

            JohnK – The fact that you just now stumbled into a decades old debate about the moon landing is hilarious.

            It would be fine if was a passing fancy, but if you are going to start asking every person here that disagrees with you about whether the moon landing was faked or not, it is going to get real old. (honestly after 2 weeks of fake moon landing questions, it already is)

            Did you hear that JFK was assassinated but that maybe we weren’t told the truth on it?

            😉

          • On November 24, 2017 at 10:15 am,
            Excelsior says:

            After considering it further, it is stunning that you are just NOW discovering all the moon landing conspiracy theories, so by your own system, it makes you dinosaur of the day.

            http://www.dinotopia.com/wp-content/uploads/DinosaurBoulevard.sm_1.jpg

          • On November 24, 2017 at 10:16 am,
            Excelsior says:
          • On November 24, 2017 at 10:57 am,
            JohnK says:

            Shad:
            Tough questions are hard to answer.You open your self up to ridicule.
            I may be a Dinosaur,but I never dodge the hard questions.
            The end goal is relief from a felt uneasiness. -Mises-
            Good luck with your investments.

          • On November 24, 2017 at 11:23 am,
            Excelsior says:

            John, I’m not dodging the hard questions, because so far it’s been pretty basic stuff.

            * Is the Earth flat? No, it is spherical like all other planets.

            * Is this daredevil rocket guy Mr. Hughes using science? Yes

            * Is apparently oblivious to this fact? Yes

            What are my spiritual beliefs? None of your business.

            It is of no relevance to the discussion at hand, and I personally can’t stand it when people get into a religious debates on an investment forum. Again, the exception a few weeks back was because that editorial was specifically focused on a religious question. If you want to take the spiritual discussion offline then email me at excelsiorprosperity@gmail.com, but I’ll take no part in it here.

            8 Was the moon landing faked? Equally irrelevant to what we were discussing, but some photos were faked and some of the facts don’t add up. I’ve spent countless hours and days reviewing gobs of information on this topic, and that was fun to discuss in the 1980’s and 1990’s, and maybe even near Y2K, but I’m done with the discussion a believe it is a waste of time.

          • On November 24, 2017 at 11:28 am,
            Excelsior says:

            Mr. Show- Blow Up the Moon

            https://www.youtube.com/watch?v=Csj7vMKy4EI

          • On November 25, 2017 at 2:45 pm,
            Excelsior says:

            Man cancels rocket launch to prove Earth is flat 4/49

            USA TODAY – Sherry Barkas – 3 hrs ago

            “Not having the required federal permits plus mechanical problems with his “motorhome/rocket launcher” forced self-taught rocket scientist “Mad” Mike Hughes to put his experiment on hold.

            The U.S. Bureau of Land Management (BLM) “told me they would not allow me to do the event … at least not at that location,” Hughes said in a YouTube announcement, amid international attention over his plans to launch into the ‘atmosflat.’

            https://www.msn.com/en-ca/news/world/man-cancels-rocket-launch-to-prove-earth-is-flat/ar-BBFCIyx?li=AAggv0m&ocid=UE12DHP

        • On November 24, 2017 at 9:11 am,
          JohnK says:

          Shad, He has already done it once before. The interesting part with his rocket is that it is steam powered.
          The first flight didn’t need science,why should this one? You fail to recognize his success and label him a FLAT EARTHER. I’ll give you a viewing seat next to CFS.

          • On November 24, 2017 at 9:18 am,
            JohnK says:

            I think he was referring to the technology exclusively reserved for those who claim to be ROCKET SCIENTISTS.

          • On November 24, 2017 at 9:28 am,
            Excelsior says:

            John – using physics, calculating thrust, fuel, tools, etc.. is ALL a result of SCIENCE.

            Having done it before and testing his thesis again is the Scientific Method.

            Period.

          • On November 24, 2017 at 9:29 am,
            Matthew says:

            JohnK, the guy believes the earth is FLAT! Shad didn’t “label” him, HE labelled himself.

            The guy doesn’t believe in science because he is a complete FOOL. That’s a deserved label.

          • On November 24, 2017 at 9:32 am,
            Excelsior says:

            “I don’t believe in science,” said Hughes, whose main sponsor for the rocket is Research Flat Earth. “I know about aerodynamics and fluid dynamics, and how things move through the air, about the certain size of rocket nozzles, and thrust. But that’s not science, that’s just a formula.

            _________________________________________________________________

            Wrong Mr Huges. That is ALL Science.

            He would have none of these tools, concepts, or even the steam power were it not for science.

          • On November 24, 2017 at 9:33 am,
            Excelsior says:

            Yes, agreed Matthew. He does sound like a complete FOOL if that is what he believes.

          • On November 24, 2017 at 9:41 am,
            JohnK says:

            The Rocket says Flat Earth Research. What’s wrong with doing a little research?
            Do you believe everything your told? Why do you suppose the Russians were given a huge Grain deal lower than market prices at the conclusion of the Apollo program?
            It’s time somebody started asking some questions.

          • On November 24, 2017 at 9:46 am,
            Excelsior says:

            Doing scientific research isn’t the issue JohnK. It is building a rocket of the foundations of science from the motor home he bought as launch ramp, to physics, to rockets, to propulsion theories, and then saying jackass things like he doesn’t believe in science.

            If you can’t see that then there is little hope for you.

            Let me lend you a hand with some scientific research for you to go through on the Flat Earth:

            https://www.youtube.com/results?search_query=flat+earth+debunked

          • On November 24, 2017 at 9:49 am,
            Matthew says:

            The article that you posted but forgot to read states that this guy believes the earth is flat. I should have guessed that you’d be open to such “research” (LMFAO)!

          • On November 24, 2017 at 9:50 am,
            JohnK says:

            Shad:
            My foundation in life is Jesus Christ as my savior and the belief in God.
            How about you?

          • On November 24, 2017 at 9:56 am,
            JohnK says:

            How about you Mathew?

          • On November 24, 2017 at 9:59 am,
            Excelsior says:

            John, how does YOUR spiritual believe system and opinion ave anything to do with the discussion we are having?

            We are talking here about a guy building a rocket (that is built wholly off the foundation of science) that is denying he believes in science. It would be like someone making a sandwich out of bread, lettuce, beef, and swiss cheese but denying farming or that cows exist. Ridiculous!

            The fact that he is doing scientific research to try to test/prove he thesis is more science.

            However, since he is trying to test the thesis that planet Earth is flat (when all other celestial bodies from planets to moons in this solar system or any other one that we look at with telescopes are spherical) makes it more an exercise in stupidity.

            Maybe he’ll win a Darwin Award 🙂

          • On November 24, 2017 at 10:01 am,
            Excelsior says:

            believe = belief

          • On November 24, 2017 at 10:04 am,
            JohnK says:

            Shad:
            The question I asked is what do you believe?

          • On November 24, 2017 at 10:06 am,
            Excelsior says:

            Thanks for the question JohnK. It has absolutely nothing to do with the conversation above about Tesla, Rockets, this guy Huges, or the Flat Earth.

            For the record I have zero interest in getting into a spiritual debate on an investment focused editorial. I made the exception on the one Big Al posted a few weeks back because that one was specifically focused on a religious question.

          • On November 24, 2017 at 10:07 am,
            JohnK says:

            Did NASA go to the moon Shad?

          • On November 24, 2017 at 10:08 am,
            Excelsior says:

            What I can say is that I believe the Earth is spherical – like every other planet in existence.

          • On November 24, 2017 at 10:10 am,
            Excelsior says:

            JohnK – The fact that you just now stumbled into a decades old debate about the moon landing is hilarious. It would be fine if was a passing fancy, but if you are going to start asking every person here that disagrees with you about whether the moon landing was faked or not, it is going to get real old. (honestly after 2 weeks of fake moon landing questions, it already is)

            Did you hear that JFK was assassinated but that maybe we weren’t told the truth on it?

            😉

          • On November 24, 2017 at 10:13 am,
            Excelsior says:

            After considering it further, it is stunning that you are just NOW discovering all the moon landing conspiracy theories, so by your own system, it makes you dinosaur of the day.

            http://www.dinotopia.com/wp-content/uploads/DinosaurBoulevard.sm_1.jpg

          • On November 24, 2017 at 10:18 am,
            Excelsior says:

            Dumb and Dumber – We Landed on the Moon!

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

          • On November 24, 2017 at 11:01 am,
            JohnK says:

            Shad:
            Tough questions are hard to answer.You open your self up to ridicule.
            I may be a Dinosaur,but I never dodge the hard questions.
            The end goal is relief from a felt uneasiness. -Mises-
            Good luck with your investments.

          • On November 24, 2017 at 11:25 am,
            Excelsior says:

            John, I’m not dodging the hard questions, because so far it’s been pretty basic stuff.

            * Is the Earth flat? No, it is spherical like all other planets.

            * Is this daredevil rocket guy Mr. Hughes using science? Yes

            * Is apparently oblivious to this fact? Yes

            * What are my spiritual beliefs? None of your business.

            It is of no relevance to the discussion at hand, and I personally can’t stand it when people get into a religious debates on an investment forum. Again, the exception a few weeks back was because that editorial was specifically focused on a religious question. If you want to take the spiritual discussion offline then email me at excelsiorprosperity@gmail.com, but I’ll take no part in it here.

            * Was the moon landing faked? Equally irrelevant to what we were discussing, but some photos were faked and some of the facts don’t add up. I’ve spent countless hours and days reviewing gobs of information on this topic, and that was fun to discuss in the 1980’s and 1990’s, and maybe even near Y2K, but I’m done with the discussion a believe it is a waste of time.

          • On November 24, 2017 at 11:29 am,
            Excelsior says:

            Mr. Show- Blow Up the Moon

            https://www.youtube.com/watch?v=Csj7vMKy4EI

    • On November 24, 2017 at 8:31 am,
      Excelsior says:

      This was a pretty funny meme:

      https://i2.imgflip.com/1zxqyt.jpg

      • On November 24, 2017 at 8:41 am,
        JohnK says:

        Good one Shad. This past year has not been easy to say the least.
        Next year I might try panning Home Depot Sand.At least when I get done I would have a sand box.

  9. On November 24, 2017 at 8:40 am,
    Excelsior says:

    Was happy to see this article from Bob M. on 321gold.

    HHorseman is a pal and he has worked very hard on his Novo Resources research, entrenching himself in old maps, geological reports, asking questions of many well-informed individuals on the Pilbara. I don’t know of anyone that has spent more time really digging into the Karratha region and surrounding regions, nor put in the hours to come up with his conclusions.

    It is nice to credit given for where credit is due. The Hedgless Horseman rides on…

    __________________________________________________________________

    Interesting Information for the Novoriche
    Bob Moriarty – Nov 24, 2017

    “When I first visited Novo’s Karratha projects, I wanted to have some idea of the lateral extent of the strike. HHorseman, a poster on CEO.ca came to the same conclusion. He went back through historical records and showed that miners a hundred years ago were mining the basalts and conglomerates hundreds of kilometers away.”

    “Gold in the Karratha gold fields has been mined for 129 years and they knew about gold in the conglomerates. It took Quinton Hennigh to realize the potential and it took HHorseman to start measuring the potential scientifically across the basin. Quinton just guessed where it might extend and realized he needed to spend his time pegging ground, not going over old reports. HHorseman charged $25 for his first report. I think it was worth every penny.”

    “HHorseman has done yet another report. It’s 63 pages and far better than any of the self-serving blather coming from John Kaiser and Alan Barry. He was kind enough to send me a copy so I could read it for free. I believe if you are a serious investor in any or all of the Pilbara Sisters you should spring for the $99 he wants for the report.”

    “I do not agree with 100% of what he says but then it’s not my report, it’s his. He has done far more work of higher quality than any of the other “experts” posting on any of the chat boards rambling on about their pet theories on Novo. It’s good data and he has some interesting conclusions.”

    http://www.321gold.com/editorials/moriarty/moriarty112417.html

    • On November 24, 2017 at 8:41 am,
      Excelsior says:

      BTW – I know sentences don’t start with “Was” but it’s Friday and I don’t care. 🙂

      • On November 24, 2017 at 8:44 am,
        Excelsior says:

        I will make one correction though. The last sentence I wrote should have said:

        “It is nice to see credit given for where credit is due. The Hedgless Horseman rides on…”

  10. On November 24, 2017 at 9:05 am,
    JohnK says:

    Bitcoin is More”An Investment Than a Currency”:Swiss Central Banker

    https://www.cryptocoinsnews.com/bitcoin-investment-currency-swiss-central-banker/

  11. On November 24, 2017 at 9:17 am,
    Paul L says:

    I sold my URA at 15.20. Missed the 15.50 top as my eyes were on other etf’s. About 13% gain in a week. Will wait for a correction as Rsi gap is huge. I had to buy back into ACB at a much higher average cost at 6.64 yesterday having sold at 5.96. It is now 7.16.

  12. On November 24, 2017 at 9:19 am,
    Excelsior says:

    Osisko Mining, Canadian junior team up to speed up gold exploration in Ontario
    Cecilia Jamasmie | about 5 hours ago

    “The Abitibi Greenstone Belt in Ontario, one of the world’s best known and prolific gold- and base-metal-producing areas, is once again seeing a flurry of exploration activity and re-examination of past-producing mines.”

    “In April, Canadian precious metals producer McEwen Mining (TSX, NYSE:MUX) acquired junior exploration company Lexam VG, which gave it access to mineral properties in advanced exploration stage in the area. And in August, it bought the Black Fox mining complex in Timmins, Canada, for $35 million from Primero Mining Corp, which had invested more than $500 million, but sold it to reduce debt.”

    http://www.mining.com/osisko-mining-canadian-junior-team-speed-gold-exploration-ontario/

    • On November 24, 2017 at 9:25 am,
      Excelsior says:

      (SGX) (SGGDF) Sage Gold Delivers Second Shipment to Mill

      @marketwired on November 24, 2017

      Similar to the first bulk sample mill run October 13th to 16th, 2017, the mineralized material is comprised primarily of remnant broken material recovered from the mine’s previous owners’ workings along with some new development rock. The first mill run yielded approximately 475 ounces of gold.”

      “In addition, we are pleased to report that substantially all of the Clavos Mine complex has been connected to grid power which will enable increased progress in all areas, including dewatering, drilling and mining.”

      “An exploration and definition drilling program continues with the purpose of updating and increasing the existing mineral resource estimate.”

      “Nigel Lees, President and Chief Executive Officer of Sage Gold commented, “We were pleased with the results of the first shipment. While the second shipment is also comprised of primarily remnant mineralized material, we anticipate future shipments to encompass the existing plus additional work areas that have recently been dewatered and rehabilitated within the lower elevations of the mine.”

      “The Clavos Mine is located in Timmins, Ontario which one of the most prolific and active gold camps in Canada. The Timmins-Porcupine area has produced well over 100 million ounces of gold in more than a century. The Clavos mine is fully permitted for 700 tonnes a day production.”

      https://ceo.ca/@marketwired/sage-gold-delivers-second-shipment-to-mill

  13. On November 24, 2017 at 9:22 am,
    Paul L says:

    Oil is near my target of 59 to 60. Uso should get to 12.

    • On November 24, 2017 at 9:26 am,
      Excelsior says:

      Paul L. – do you expect Oil to put in an intermediate top at 59-60 or is that a breakout level?

      • On November 24, 2017 at 9:35 am,
        Paul L says:

        It is hard to tell now. It may suddenly get hit hard at 59.90 or so with big shorts by the major traders. I am hoping it does not fall hard and bounces back to above 60 as xop is very undervalued now versus the oil price. It should be near 38 to 40.

        • On November 24, 2017 at 9:38 am,
          Excelsior says:

          Thanks Paul L. I was just trying to see if your target was based on being a resistance point (which that sound like you how meant it) or a breakout target. Ever Upward!

  14. On November 24, 2017 at 3:11 pm,
    OOTB Jerry says: