Weekend Show – Sat 10 Feb, 2018

Assessing Recent Volatility In US Markets and Commodities

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Another wild week for the markets. Volatile US markets saw the Dow experienced 1,000 point swings 3 out of the 5 trading days. Commodities are dropping including precious metals but it’s the stocks that are really getting hit. Although some of the quality stocks are holding up GDX broke the 21 support level on Friday. In the first hour we cover the moves in the broad markets and commodities plus look under the hood of the US economy to asses its strength.

Please feel free to reach out to me at anytime with questions on companies and topics you would like to see on our show. Please also click the links below for exclusive interviews with companies that I think have a solid story and management team. I can be reached at Fleck@kereport.com.

  • Segment 1: Byron King kicks off the show with the importance he puts on management teams combined with solid jurisdictions.
  • Segment 2: Avi Gilburt and I look ahead to what his charts are telling him for the S&P, precious metals, and GDX.
  • Segment 3: US exports are up but the trade balance is still deteriorating. Marc Chandler and I discuss.
  • Segment 4: We wrap up the first hour chatting with Chris Temple comparing the market currently to the crashes of 1987 and 2000 and 2008.
  • Segment 5: FBI Agent Andy Arena Answers The Question Security in Our Country What Makes Sense.
  • Segment 6: Charlotte Cuthbertson of The Epic Times discusses the opioid crisis in our penal system.
  • Segment 7: Josh Phillipp summaries the events of the past week according to The Epic Times.
  • Segment 8: Big Al and Jim Mckinney draw some thought provoking paralells between the way Uranium One was handled and the recent actions with the FISA Material.

Exclusive Company Interviews and Updates – Click on the titles below for direct links to the interviews

Segment 1

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Segment 2

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Segment 3

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Segment 4:

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Segment 5:

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Segment 6:

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Segment 7:

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Segment 8:

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Charlotte CuthbertsonByron KingAvi GilburtMarc ChandlerChris TempleAndy Arena
Joshua PhilippJim McKinneyCory FleckAl Korelin

  1. On February 10, 2018 at 3:26 am,
    Skeeta says:

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

    • On February 10, 2018 at 6:23 am,
      Excelsior says:

      + 1 Thanks Big Al & Cory and all the contributors for the hard work putting together these weekend shows. It is appreciated !

      • On February 10, 2018 at 8:53 am,
        Big Al says:

        You are also very welcome, Excelsior

    • On February 10, 2018 at 8:52 am,
      Big Al says:

      You are welcome,Skeeta

      • On February 10, 2018 at 10:09 am,
        b says:

        Yup, great site. thx.

  2. On February 10, 2018 at 3:35 am,
    CFS says:

    Segment 8:
    A bit of collusion?!?

    The whole deal stinks. Why would the US sell any uranium, so it is then necessary to IMPORT uranium?

  3. On February 10, 2018 at 3:41 am,
    CFS says:

    Seg. 8: The NDA agreement (gag order) was lifted and testimony has been made.

  4. On February 10, 2018 at 4:12 am,
    AJ says:

    The Smearing of Christopher Steele

    The Partisan Attacks on Christopher Steele

    Jacob Weisberg talks to John Sipher, a former senior member of the CIA, about Christopher Steele and the partisan attacks on him and his work.

    • On February 10, 2018 at 9:21 am,
      Markedtofuture says:

      Sean Hannity 2/10/18 _ Urgent news! _ Sean Hannity Fox News Today Feb 10, 2018

      Published on Feb 9, 2018


      • On February 10, 2018 at 9:40 am,
        Big Al says:

        Markedtofuture, all I can say is that it is getting better and better! Thank you.

        • On February 10, 2018 at 10:20 am,
          Markedtofuture says:

          Big Al,

          hopefully they are all recognized for their investigative work.

          • On February 10, 2018 at 12:26 pm,
            Big Al says:

            I, personally, give the all the credit that I can.

          • On February 10, 2018 at 7:06 pm,
            Markedtofuture says:

            There have been some intriguing Q drops.

            Feb 10 2018 03:33:29 324395

            “Rest in peace Mr. President (JFK), through your wisdom and strength, since your tragic death, Patriots have planned, installed, and by the grace of God, activated, the beam of LIGHT. We will forever remember your sacrifice. May you look down from above and continue to guide us as we ring the bell of FREEDOM and destroy those who wish to sacrifice our children, our way of life, and our world. We, the PEOPLE.”
            Prayer said every single day in the OO.
            JFK – Secret Socities.
            Where we go one, we go all.


  5. On February 10, 2018 at 5:40 am,
    jhpace1 says:

    Segment 4: Is there more behind the scenes, Cory, than we are being told about the economy?
    SPECIAL REPORT: Stock Market Meltdown? Flash-crash? No. This Is What Happened. By Gregory Mannarino (https://www.youtube.com/watch?v=ETEBuIzxW4g)

  6. On February 10, 2018 at 6:26 am,
    Excelsior says:

    ‘Buy Gold!’ says the Bank of England

    Adrian Ash – Bullion Vault – February 08th, 2018

    “In effect it told UK investors and savers to buy gold. Because gold tends to rise when interest rates fail to rise faster than the cost of living.”

    “And the Bank of England today confirmed it plans to stay way behind the curve on inflation…”


    • On February 10, 2018 at 6:42 am,
      Excelsior says:

      Resilience. Initiative. Enterprise. – Avino Silver & Gold Mines. (ASM)

      Cambridge House – Feb 8, 2018 #VIDEO


      • On February 10, 2018 at 6:56 am,
        Excelsior says:

        One Metal, One Country… – First Majestic Silver (AG) (FR)

        Cambridge House – Feb 6, 2018


        • On February 10, 2018 at 5:56 pm,
          Excelsior says:

          Nevada-based, Historic World-Class Mining District – Comstock Mining $LODE

          Cambridge House – Feb 9, 2018 #CorporatePresentation #Video #Gold #Silver #producer


          • On February 10, 2018 at 6:25 pm,
            Whit says:

            Wow ex, you don’t find many company’s that are below there winter of 2015 low. What happened to Comstock they really fell off?

          • On February 10, 2018 at 6:52 pm,
            Excelsior says:

            I believe that not having a Canadian ticker hurts them, and they have done a terrible job of promoting their story or just how much upside they really have.

            The whole mining space did consolidate down from the summer of 2016 highs, but they got hammered worse than most miners because they didn’t have a clear message to the marketplace in the past. They had their mining focus, but also many other real estate deals, their own hotel and hospitality business, a tourist attraction for the general public to mine silver/gold on location, and their own precious metals coins and investable collectibles.

            Fast forward to today, they are liquidating their real estate that has spiked in volume (due to their proximity to that huge tech industrial park with Tesla, Google, Amazon, etc…), and they’ve phased out their tourist & hospitality business to really just focus on their Comstock mine and their 2 main exploration projects nearby. The sale of the hotel and real estate allows them to pay off all their debt (that’s a big deal) and to have a little cash left over in the warchest to grow the business. They actually just leveraged and monetized their non-core assets brilliantly, but most investors are completely unaware.

            I’ve actually followed this company for years with interest, but never took a stab at them until the end of last year and have added more recently. Most PM investors are simply unaware of just how prolific the Comstock Lode is historically, or their area of Nevada for that matter. They are doing a small amount of production per year, but are about to step things up in a major way in production and definition drilling.

            One thing I also like about LODE is their ease of permitting the social contract they have with the local communities and regulators. I remember watching videos 2-3 years ago with ribbon cutting ceremonies on opening that new tunnel and this allows for underground drilling that will be far less expensive and far more rewarding than surface drilling.

            All in all Comstock Mining (LODE) has the ability to get re-rated much higher later this year and into next, and we’ll look back at these prices in 2-3 years and shake our heads for not buying more. 🙂

    • On February 10, 2018 at 6:44 am,
      Excelsior says:

      “Stay Vigilant and Stay Patient” – A Dialogue with David Erfle

      Cambridge House – Feb 7, 2018


    • On February 10, 2018 at 6:48 am,
      Excelsior says:

      “I Think It’s Going to be a Strong Year For Gold”- A Dialogue with Adrian Day

      Cambridge House – Feb 6, 2018


      • On February 10, 2018 at 12:06 pm,
        Excelsior says:

        Gold Fireworks On The Horizon

        Jesse Felder – February 8, 2018

        “The gold price has risen about 20% since I wrote “It’s Time To Get Greedy In The Gold Market” but it looks to me like it could now get really exciting for gold bulls.”

        “On the weekly chart there is now a clear head and shoulders bottom pattern in play. A break above the neckline would confirm the pattern and project an eventual target near $1,650. There is also a very interesting price analog from 2008-2009 that suggests this breakout could be imminent.”


        • On February 10, 2018 at 6:31 pm,
          Excelsior says:

          Is Silver Due to Shine? This One Clue Says Yes

          Kitco News – Feb 9, 2018

          “Silver has been lagging behind gold in terms of growth in the last year, but one analyst said that now may be a good time to buy into silver.”

          “According to Phil Streible, senior market strategist at RJO Futures, a gold-silver ratio above 80 signals a strong buy for silver. The gold-silver ratio was last at 80.43 at the end of Thursday’s session.”

          “Silver has been lagging behind gold for quite a while now,” Streible told Kitco News, “and I think that silver is due for its movement upwards, I wouldn’t be surprised to see one of these 30 to 50-cent moves to the upside here.”

          Recent spikes in equities volatility could further prompt traders to rush into one of the metals, Streible said. “Some people may be a little bit more comfortable with gold and will go into that, but I think the real opportunity lies with silver,” he said.


          • On February 10, 2018 at 6:59 pm,
            Excelsior says:

            People Are Not Selling Stocks, They Are Selling Gold

            Kitco News – Feb 8, 2018

            “Gold has stayed muted when stocks have been tumbling, leaving experts scratching their heads but one expert said that correlation is not always so iron-clad. ”

            “Investors have been their selling gold to cover margin calls on stocks, explained George Milling-Stanley, Head of Gold Strategy for State Street Global Advisors.”

            “Interest for gold was strong before the dump in stocks. It’s basically investors who bought a lot of stock on margins, rather than selling stocks at depressed prices, people have been selling gold. When everything goes down, gold doesn’t’ necessarily go up,” he said in an interview on Thursday. ”

            “But even if gold prices are muted in this environment of stock market volatility, there is definite interest in the yellow metal coming from the U.S. and Canada.”

            “But it’s not physical. ”

            “While sales of physical bullion have been lackluster in North America, gold-backed exchange-traded funds added more tonnes than those of Asia and Europe combined during January, accounting for more than half of global net inflows — this according to the World Gold Council on Thursday. ”


          • On February 11, 2018 at 11:07 am,
            Dan, calgary says:

            Lots of room for a rebound in silver on this chart. Over 72 on the RSI.


          • On February 11, 2018 at 4:06 pm,
            Excelsior says:

            Dan, calgary – the Gold:Silver ratio is getting out there, but if nothing else a reversal back down to fill that gap at 79:1 is in short order.

      • On February 11, 2018 at 4:09 am,
        Excelsior says:

        What the Stock Market Decline Means for Gold & Gold Stocks

        by Jordan Roy-Byrne @TheDailyGold on February 11, 2018


  7. On February 10, 2018 at 6:32 am,
    Excelsior says:

    Paul Tudor Jones: “This Market Feels Like Japan In 1989 Or The US In 1999”

    Fri, 02/09/2018


  8. On February 10, 2018 at 6:37 am,
    Excelsior says:

    Electric Cars and Niche Metals Lure Cash to Africa’s Mines
    By Thomas Wilson and Thomas Biesheuvel – February 1, 2018

    “The electric-vehicle boom and shifting industrial demand have transformed formerly niche metals — from lithium and cobalt to praseodymium and neodymium — into the hot new draw-cards of African mining.”


  9. On February 10, 2018 at 7:01 am,
    Excelsior says:

    It’s A Mad, Mad, Mad World

    Gary Wagner – February 9, 2018 #TechnicalAnalysis #VIDEO #Charts


  10. On February 10, 2018 at 9:02 am,
    Silverdollar says:

    Dr. Stephen Leeb: I like the guy and believe him to be very bright but, he’s been wrong with his timing in the past. He seems to see macro advantages in China and with their silk road efforts that many others don’t even mention. https://kingworldnews.com/dr-stephen-leeb-2-10-18/

  11. On February 10, 2018 at 10:04 am,
    CFS says:
  12. On February 10, 2018 at 10:20 am,
    CFS says:

    Seg. 6:

    Some background information:


    On a side note, I listen to AGM meetings of many companies including Pharma.
    I recall one company, a few weeks ago, mentioning that they will submit to WhiteHouse pressure to reduce production of opioids by 30% AND discontinue all freebies to M,D,s and stop support for sales.
    I specifically remember at the time being shocked in that this is a clear violation of fiduciary responsibility of the CEO. (Even if it is the correct moral decision.)
    I will try and dig out which company it was. (I must be getting old…memory failure.)

  13. On February 10, 2018 at 10:36 am,
    Matthew says:

    The Truth About the FISA Memo, With ex-CIA Analyst Ray McGovern

    Ray McGovern, no Trump partisan, has been blacklisted by much of the progressive media (which once loved him) because he won’t go along with the Russiagate story, and he sharply dissents about the significance of the memo as well.


    • On February 11, 2018 at 10:19 am,
      bonzo barzini says:

      Thanks, this confirms what Sean, Rush, Levin, etc. have been saying for months. Sessions needs to go if he won’t do anything. Many need to go to jail.

  14. On February 10, 2018 at 10:38 am,
    CFS says:

    It was Purdue Pharma that stated it would reduce its production. (How could I forget that? They are a major producer of of Oxycontin.)


    • On February 10, 2018 at 12:33 pm,
      Big Al says:

      Given your history, I am not sure just how you could forget that!

      • On February 10, 2018 at 5:34 pm,
        CFS says:

        Alzheimers setting in?

  15. On February 10, 2018 at 11:50 am,
    Markedtofuture says:

    Martin Armstrong Asks “Is George Soros One Of The Greatest Threats Against Society?”

    “I personally believe he is very dangerous politically… he stands for control of the people and is always plotting for the manipulation of society…”


    • On February 10, 2018 at 12:13 pm,
      Matthew says:

      Soros is obviously very dangerous but he is serving to further an agenda that is much bigger than he is.

      • On February 10, 2018 at 7:58 pm,
        Excelsior says:


      • On February 11, 2018 at 10:21 am,
        bonzo barzini says:

        Whose agenda is Soros serving? Curious minds want to know!

        • On February 11, 2018 at 11:37 am,
          SGH says:

          Just an opinion, but it seems obvious that he serves the globalist Marxist agenda. And if you think that puts him at odds with wall street, consider that wall street banker Jacob Schiff funded the Bolshevik revolution

          • On February 11, 2018 at 11:53 am,
            Matthew says:

            You are right on both counts. Only fools think that wall street is pro capitalism, or representative of it, in any way.

  16. On February 10, 2018 at 12:00 pm,
    CFS says:

    Meanwhile in Silicon Valley, hoping to become the Amazon of Financial Services:

    They call themselves, “stockbrokers for the 99%”

    already more members than ETrade, they claim.
    Also allowing direct purchase of cryptos!

    NOT an endorsement by me; just info.

  17. On February 10, 2018 at 12:03 pm,
    CFS says:
    • On February 10, 2018 at 6:16 pm,
      Markedtofuture says:

      XLM 2018 Stellar Roadmap

      For those of you hoping for splashy partnership announcements, that’s not our goal here. Also, at a philosophical level, we believe that applauding our nth partner is less important than ensuring existing partnerships are successful.

      We closed 37 partners last year and highlighted a few, including IBM and Tempo, in our Stellar and the State of Cryptocurrency post from last week. Corporate development work will continue: we’ve planned major partnership events around the world this Spring.


  18. On February 10, 2018 at 12:14 pm,
    Matthew says:

    The miners look like they are in for some significant relief next week:


  19. On February 10, 2018 at 12:36 pm,
    CFS says:

    Meanwhile in Syria, Israeli plane shot down by Iranian missile.


    • On February 10, 2018 at 7:04 pm,
      Big Al says:

      Thank you very much. I am surprised that it did not make a bigger splash here.

    • On February 10, 2018 at 7:34 pm,
      CFS says:

      I’m not surprised. The Israelis were warned that the Russians were selling SAMs to Iran for Syria.
      Unfortunately that put Israel in a catch 22 problem: Accept Hezbollah lobbing in rockets, which 90% of the time do little damage, without retaliation.
      Or take the risk involved in retaliation. This time the cost was an F-16 and, I think, a pilot.

  20. On February 10, 2018 at 1:05 pm,
    Matthew says:

    GDXJ precisely followed a Fibonacci arc as it fell for the last two weeks and is clearly due for a tradable bounce (at least)…

    2 hour chart:

  21. On February 10, 2018 at 5:41 pm,
    CFS says:
  22. On February 10, 2018 at 6:04 pm,
    Excelsior says:

    (ANX) (ANXGD) Anaconda Scores 34.7 g/t Gold over 3.5 Meters

    Bob Moriarty of 321 Gold looks at this gold explorer’s drill results for its Nova Scotia project.


    • On February 10, 2018 at 6:05 pm,
      Excelsior says:

      Squeezing Value Out of Atlantic Canada
      Anaconda Mining Inc. (ANX) (ANXGD) – Initial Estimates
      February 6, 2018 – RedCloud


      • On February 10, 2018 at 7:32 pm,
        Mickey Mantle says:

        thanks for keeping ANX on the radar someday people will remember I was banging the table when this was 5.5 cents (22 post rollback) I don’t think there is a better play out there 🙂

        • On February 10, 2018 at 7:44 pm,
          Excelsior says:

          Mickey Mantle – for sure. I did most of my positioning last summer near that same level and your thoughts and input were instructive, as were Newton’s & Leni’s pieces.

          I’ll admit to trimming my position back around $.10 before the splitt for a quick double on that portion, but I’ve been nibbling away at it again recently. Cheers!

      • On February 10, 2018 at 7:39 pm,
        Excelsior says:

        (KNT)(KNTNF) K92 announces results, including 6.8m at 53.34 g/t Au, 106 g/t Ag and 1.16% Cu (56.45 g/t AuEq) in KMDD0049 – the most southerly hole drilled from Diamond Drill Cuddy 2 (DDC2)

        Feb. 09, 2018


  23. On February 10, 2018 at 6:26 pm,
    CFS says:

    You want to know why Michelle Obama will NOT run for President?
    A tax cheat.


    • On February 11, 2018 at 10:30 am,
      bonzo barzini says:

      That’s a relief, but the dems have many other candidates just as nauseating.

      • On February 11, 2018 at 11:47 am,
        Matthew says:

        I’m all for avoiding taxes but thieving leftists should have no legal way to do it.

        • On February 11, 2018 at 11:48 am,
          Matthew says:

          Sorry, thieving leftists is redundant.

          • On February 11, 2018 at 4:04 pm,
            Excelsior says:

            lol good point

        • On February 11, 2018 at 4:41 pm,
          bonzo barzini says:

          Leftists like the Obamas and Clintons want to raise taxes because they don’t pay them.
          Hypocrites all!

  24. On February 10, 2018 at 7:48 pm,
    CFS says:

    i’m beginning to think some reporters read this blog!

    NEW YORK (AP) — The maker of the powerful painkiller OxyContin said it will stop marketing opioid drugs to doctors, bowing to a key demand of lawsuits that blame the company for helping trigger the current drug abuse epidemic.

    OxyContin has long been the world’s top-selling opioid painkiller, bringing in billions in sales for privately-held Purdue, which also sells a newer and longer-lasting opioid drug called Hysingla.

    The company announced its surprise reversal on Saturday. Purdue’s statement said it eliminated more than half its sales staff this week and will no longer send sales representatives to doctors’ offices to discuss opioid drugs. Its remaining sales staff of about 200 will focus on other medications.

    The OxyContin pill, a time-release version of oxycodone, was hailed as a breakthrough treatment for chronic pain when it was approved in late 1995. It worked over 12 hours to maintain a steady level of oxycodone in patients suffering from a wide range of pain ailments. But some users quickly discovered they could get a heroin-like high by crushing the pills and snorting or injecting the entire dose at once. In 2010 Purdue reformulated OxyContin to make it harder to crush and stopped selling the original form of the drug.

    Purdue eventually acknowledged that its promotions exaggerated the drug’s safety and minimized the risks of addiction. After federal investigations, the company and three executives pleaded guilty in 2007 and agreed to pay more than $600 million for misleading the public about the risks of OxyContin. But the drug continued to rack up blockbuster sales.

    Dr. Andrew Kolodny, director of opioid policy research at Brandeis University and an advocate for stronger regulation of opioid drug companies, said Purdue’s decision is helpful, but it won’t make a major difference unless other opioid drug companies do the same.

    “It is difficult to promote more cautious prescribing to the medical community because opioid manufacturers promote opioid use,” he said.

    Allergan, which makes three opioid pain medications, said it has not actively marketed those drugs in years, and Janssen Pharmaceuticals, a unit of Johnson & Johnson, said it stopped marketing the medications in 2015. Both said opioid drugs make up a very small portion of their total revenue. Another drugmaker, Insys, said it was not able to comment immediately, while Teva Pharmaceutical Industries did not immediately respond to a request for comment.

    Kolodny said that opioids are useful for cancer patients who are suffering from severe pain, and for people who only need a pain medication for a few days. But he said the companies have promoted them as a treatment for chronic pain, where they are more harmful and less helpful, because it’s more profitable.

    “They are still doing this abroad,” Kolodny added. “They are following the same playbook that they used in the United States.”

    Purdue Pharma only does business in the U.S. It is associated with two other companies, Mundipharma and Napp, that operate in other countries. It said those companies have separate leadership and operate according to local regulations.

    Purdue and other opioid drugmakers and pharmaceutical distributors continue defending themselves against hundreds of local and state lawsuits seeking to hold the industry accountable for the drug overdose epidemic. The lawsuits say drugmakers misled doctors and patients about the risks of opioids by enlisting “front groups” and “key opinion leaders” who oversold the drugs’ benefits and encouraged overprescribing. State and local governments are seeking money and changes to how the industry operates, including an end to the use of outside groups to push their drugs.

    Kolodny is serving as an expert advising the court in those lawsuits.

    U.S. deaths linked to opioids have quadrupled since 2000 to roughly 42,000 in 2016, or about 115 lives lost per day. Although initially driven by prescription drugs, most opioid deaths now involve illicit drugs, including heroin and fentanyl.

  25. On February 10, 2018 at 7:51 pm,
    CFS says:

    By MENELAOS HADJICOSTIS – Associated Press – Sat Feb 10, 2:49PM CST
    NICOSIA, Cyprus (AP) — Turkish warships on maneuvers in the Mediterranean Sea have blocked a rig belonging to the Italian energy firm ENI from reaching an area off Cyprus to start searching for gas, officials said Saturday.

    Cyprus’ Foreign Minister Ioannis Kasoulides told state broadcaster RIK that the rig has halted its journey heading south of Cyprus and was waiting for directions from ENI. He says Cypriot authorities are in contact with the company and the Italian government.

    The Saipem 12000 rig was stopped Friday by Turkish military ships and told not to continue “because there would be military activities in the destination area,” an ENI spokesman told The Associated Press. “The vessel has prudently executed the orders and will remain in position pending a development of the situation.”

    The ENI official spoke on condition of anonymity in line with company policy.

    The rig was on its way to drill an exploratory well at Block 3, an area southeast of the island nation, where ENI is licensed to search for hydrocarbons beneath the seabed.

    On Thursday, Cyprus said ENI and partner TOTAL of France had discovered a potentially sizeable gas deposit at another block south of the island.

  26. On February 10, 2018 at 7:57 pm,
    CFS says:

    WASHINGTON (AP) — President Donald Trump makes big promises to reduce prescription drug costs, but his administration is gravitating to relatively modest steps such as letting Medicare patients share in manufacturer rebates.

    Those ideas would represent tangible change and they have a realistic chance of being enacted. But it’s not like calling for Medicare to negotiate drug prices.

    Skeptics say the overall approach is underwhelming, and Trump risks being seen as an ally of the powerful pharmaceutical industry, not its disrupter.

    The White House Council of Economic Advisers has released a 30-page strategy for reducing drug costs, and it calls current policies “neither wise nor just.” The plan, outlined before Trump releases his new budget proposal Monday, focuses mainly on Medicare and Medicaid changes, along with ideas for speeding drug approvals and fostering competition.

    “Despite promises to drastically lower prices the mix of proposed changes does not appear likely to do so, even though there are some constructive proposals,” said John Rother, CEO of the National Coalition on Health Care, an advocacy group whose members include consumer organizations, medical societies, hospitals and insurers.

    Polls show the high cost of drugs is a top concern of Americans, regardless of political leanings. In his State of the Union speech, Trump seemed to foreshadow major change, saying “fixing the injustice of high drug prices” is a top priority this year.

    “And prices will come down substantially,” Trump added. “Watch.”

    As a candidate, Trump advocated Medicare negotiations and he called for allowing consumers to import lower-priced medicines from abroad. But the White House strategy paper veers away from such dramatic steps. His new health secretary, Alex Azar, was a top executive at pharmaceutical giant Eli Lilly.

    Medicare negotiations and drug importation are unacceptable to the drug industry, which has spent tens of millions of dollars since Trump’s inauguration to influence the Washington conversation around drug prices, including a high-profile TV advertising campaign portraying its scientists as medical trailblazers.

    The White House strategy largely sidesteps the question of whether drugmakers set their prices too high to start with. Rather, it recommends changes to policies that the administration believes unwittingly lead to higher prices, and suggests ways to speed drugs to market and increase competition.

    It takes aim at foreign governments that dictate what drug companies can charge their own citizens. Trump often has noted that the same medications Americans struggle to pay for can be bought for much less abroad. The White House report examined 35 economically advanced countries, and found that U.S. consumers and taxpayers pay for more than 70 percent of drug company profits that fund innovation.

    “Other nations are free-riding, or taking unfair advantage,” according to the review.

    The industry defends its pricing by saying companies have to recoup considerable research and drug development costs within the limited window when brand drugs are protected from generic competition. But examples of profit-seeking abound.

    An investigation by Sens. Charles Grassley, R-Iowa, and Ron Wyden, D-Ore., in 2015 found that the makers of the breakthrough hepatitis C drug Sovaldi decided to charge roughly $1,000 per pill even though the company’s own analysis showed a lower price would allow more patients to be treated. Gilead Sciences disagreed with the senators’ conclusion that it put profits before patients.

    The White House strategy recommends:

    —working with states to revise Medicaid rules so manufacturers don’t have an incentive to set artificially high prices due to the rebates they provide the program for low-income people.

    —changing the way Medicare pays for drugs administered in a doctor’s office so Medicare doesn’t reimburse based on a fixed percentage of a drug’s cost. Critics say the current system creates an incentive for doctors to prescribe more expensive medications. The Obama administration proposed a similar change, but had to back off.

    —changing a requirement that insurers in Medicare’s prescription program cover at least two different medications in each broad class of drugs. In some cases, that can tie the hands of insurers trying to negotiate lower prices.

    —requiring insurers to share rebates from drug companies with patients. Drugmakers use the rebates to help gain market share. Insurers say they plow the money into reducing premiums. But patient copayments are usually based on the full price of the drug, before rebates. The issue is a major source of friction between drug companies and insurers.

    —revising the Food and Drug Administration’s drug review and approval process to promote competition.

    Many of the ideas can be pursued by the administration through rule-making, which means Trump can drive change without a balky Congress. But whether that translates into a big hit with the public is unclear. There’s no estimate from the White House of the potential impact on prices.

    Financial analyst and former drug company executive Richard Evans said the administration plan would help bring down costs, but not to the same degree as giving Medicare a direct role in setting prices.

  27. On February 10, 2018 at 8:51 pm,
    Markedtofuture says:

    AK-47 Rifles, Claymore Mines, & Grenade Launchers Discovered On Mexico Border

    The federal government of Mexico recently deployed thousands of Mexican soldiers, Marines, and police officers to the Gulf region of the Mexico-United States border, as drug cartel violence spirals out of control.


  28. On February 10, 2018 at 9:36 pm,
    CFS says:
  29. On February 11, 2018 at 1:04 am,
    Skeeta says:

    I’m leaving to go off to Europe for awhile in a little over a fortnight.
    Can we please settle this gold bull before I go ?
    I’m loaded up at present but still have plenty of dry powder.
    Looking at the price of Miners on the internet isn’t what I’m going there for to decide when to add some more.
    But whats the bet I will be.
    If your in Italy, Belgium, France or England then look out for us,
    We’ll be the Clan at this family reunion who eats everything & attempts to drink everyplace dry.

    • On February 11, 2018 at 10:32 am,
      bonzo barzini says:

      Might as well go to Zermatt and climb the Matterhorn.

  30. On February 11, 2018 at 2:44 am,
    Markedtofuture says:

    The Transitional Flight to Quality – Martin Armstrong

    QUESTION: Hey Martin, … My question is: is there an influence of the Dow at this moment on the cryptocurrency market and the precious metal market? As you say, gold is not ready yet… Will the possible correction of the Dow play the confidence game and scare a lot of markets off?

    ANSWER: Yes. With Dow declining, we are failing to see a rally in cryptocurrency or gold and the long-touted flight to quality is not unfolding as most have expected.

    When Equities typically decline, people run to the government bonds, and this we call the Flight to Quality. Others have touted that gold would soar when the stock market crashes. That too has not unfolded. Others have forecast that the dollar will collapse when the stock market crashes. Hm, even the Euro has declined.

    What nobody seems to be talking about is what happens when the crisis is confined to government? Is that when gold rises? But then what about stocks? When CONFIDENCE collapses in government, the Flight to Quality becomes the opposite of tradition sell equities and buy bonds. Even when gold was rising moving up into 1980, bonds were declining.

    So what is going on this time? We are in the midst of the Transition from the confidence in government to the private sector but nobody seems to understand what is unfolding. This is why we are getting mixed signals and strange relationships.

    People will invest in the private sector and sell government bonds, smelling a default in the wind.We are more than likely going to get the first kneejerk reaction, where equities will DECLINE and people will rush into government bonds, even with negative yields. This should create the final bubble top in debt, and then it will reverse in a Flash Crash type move. Traditional people will buy bonds and lose a fortune. Others will sell their stocks at the lows and jump on short positions. This will set the stage for a crazy period that comes around every so often, measured in hundreds of years.


  31. On February 11, 2018 at 11:25 am,
    confused says:

    just gave Graddhy the boot over at GoldTentParadise!!! WHY? Was he too self promoting? Either way, he seemed to have some solid charting abilities!

    • On February 11, 2018 at 4:01 pm,
      Excelsior says:

      Interesting. I don’t know the details of what happened.

      I enjoyed the Technical Analysis from both FullGoldCrown and Graddhy but these things happen.

  32. On February 11, 2018 at 11:42 am,
    Matthew says:

    The miners have been trapped in a box for the last year:


  33. On February 11, 2018 at 11:44 am,
    Matthew says:
  34. On February 11, 2018 at 1:15 pm,
    irishtony says:

    Zerohedge is been hit again, various stories are not downloading.

  35. On February 11, 2018 at 4:02 pm,
    Excelsior says:

    Marijuana Tops Liquor Sales For First Time In Aspen

    Fri, 02/09/2018

    “Marijuana shops in Aspen raked in the green in 2017, topping liquor sales with $11.3 million in revenue vs. $10.5 million of alcohol in the Colorado resort town home to just under 7,000 residents, and tens of thousands of tourists who are more mellow than ever.”


  36. On February 11, 2018 at 5:45 pm,
    Bill says:
  37. On February 11, 2018 at 6:05 pm,
    Markedtofuture says:



  38. On February 11, 2018 at 6:36 pm,
    Markedtofuture says:



  39. On February 12, 2018 at 5:54 am,
    Excelsior says:

    (RPM) (RPMGF) Rye Patch Gold Hires Chief Operating Officer

    @newswire on February 12, 2018


  40. On February 12, 2018 at 6:07 am,
    Excelsior says:

    Avi Gilburt made the point about some of the larger laggards like Barrick being the reason for the drag down in GDX pricing, and that he had a number of stocks that were doing far better than the GDX share price.

    I completely agree, and this is why picking the higher performance Jrs will always outperform the slow and clunky Srs. For an investor that doesn’t want to do any homework the ETFs are nice enough, but it can be far more rewarding for investors to just build their own Gold or Silver ETFs and pick the higher torque and higher leveraged Jrs to achieve the outperformance people are attracted to in the mining sector.


    Gold Giant Barrick Faces Grilling After Fall to Bottom of Pack

    By Danielle Bochove – February 11, 2018

    “Barrick Gold Corp. executives will have some explaining to do when the company releases full-year results Wednesday.”

    “Even with rising gold prices and a strengthened balance sheet, the world’s largest gold producer left shareholders with the worst returns among its top North American peers last year and the third-worst performance in the 15-company BI Global Senior Gold Valuation Peers index.”


    • On February 12, 2018 at 6:10 am,
      Excelsior says:

      Barrick Provides Update on Pascua-Lama Project

      Feb. 06, 2018

      “As previously reported, on January 17, Chile’s Superintendencia del Medio Ambiente (SMA) ordered the closure of existing infrastructure on the Chilean side of the Pascua-Lama project. The sanction is part of a re-evaluation process ordered by the country’s Environmental Court in 2014 and relates to historical compliance matters. Barrick is appealing the resolution on a number of grounds, including on the basis that the sanction is disproportionate to actual environmental impacts.”

      “The resolution does not affect the Company’s ongoing evaluation of an underground, block-caving operation at Pascua-Lama, which would require additional permitting and regulatory approvals in both Argentina and Chile, irrespective of the recent SMA decision. In any underground scenario, Barrick would also close site facilities and surface disturbance in Chile not necessary for an underground mine.”

      “In light of the SMA order to close surface facilities in Chile, and current plans to evaluate an underground mine, Barrick is reclassifying Pascua-Lama’s proven and probable gold reserves of approximately 14 million ounces, which are based on an open pit mine plan, as measured and indicated resources.1 As a result, we expect to record an estimated pre-tax impairment of $429 million at Pascua-Lama in the fourth quarter of 2017. Further details will be included in Barrick’s year-end results release on February 14, 2018.”


      • On February 12, 2018 at 6:16 am,
        Excelsior says:

        ABX Barrick is in a real pickle here, and I would not be interesting in investing in it or GDX when there are so many better options. I’ve never understood why investors even go for Barrick or Goldcorp or most of the Majors when they typically underperform, and they overextended themselves in jurisdictions that want to nationalize or shut down their mines due the massive size of them, and they overpaid for a bunch of marginal assets at the top of the last cycle.

        If investors want solid producers, then there are dozens of good Mid-Tier producers without all these issues that would be far better options and their share prices will be much peppier in the medium to longer term.

  41. On February 12, 2018 at 6:24 am,
    Excelsior says:

    Mining Stocks – When You Feel Good, Sell (Something)
    by FI FIGHTER on FEBRUARY 12, 2018

    “Mining stocks are an extremely volatile asset class where the odds of any investor getting into a story, experiencing impressive gains, only to then take a round trip back to break-even… and finally into NEGATIVE territory are actually quite high (sadly)… In fact, that dreaded rollercoaster ride where you see all your once “hefty” profits in any single position later eviscerated into NOTHING is something that I’ve experienced more often than I’d like to admit…”

    “Yes, it’s impossible to ever perfectly “time the market”, but I think it goes without saying with mining stocks — Whenever you’re in healthy profits and feeling good about yourself, it’s a prudent idea to consider booking some profits!”

    “Now, the key word here is “some”… For each investor, it’ll vary… Perhaps, you might consider “selling 1/2 on a double”, or start trimming down some stock in tranches… In the most extreme cases (these are actually my favorite scenarios), you’ll be very open and honest with yourself and declare most adamantly that you’ve had a spectacular run and it’s now worthwhile to close out the entire position and call it a day…”


  42. On February 12, 2018 at 7:09 am,
    Excelsior says:

    Silver is up over 2% today and many of the miners are up 2-3 times that.

    • On February 12, 2018 at 8:04 am,
      Excelsior says:

      Nice initial move up from the Silver Producers so far today:

      Symbol – Silver Producers – % Chg

      USAS Americas Silver Corporation +9.69%
      ASM Avino Silver & Gold Mines Ltd. +8.06%
      SVM Silvercorp Metals Inc. +7.59%
      AG First Majestic Silver Corp. +7.12%
      TAHO Tahoe Resources Inc. +6.90%
      HL Hecla Mining Company +5.73%
      CDE Coeur Mining, Inc. +5.56%
      EXN.TO Excellon Resources Inc. +5.70%
      EXK Endeavour Silver Corp. +5.69%
      FSM Fortuna Silver Mines Inc. +5.61%
      SSRM SSR Mining Inc. +5.22%
      PAAS Pan American Silver Corp. +4.02%
      GPL Great Panther Silver Limited +4.30%
      IPT.V IMPACT Silver Corp. +3.03%
      BHS.V Bayhorse Silver Inc. +2.50%
      HMX.V Hunt Mining Corp. +2.44%
      FRES.L Fresnillo PLC +1.86%
      HOC.L Hochschild Mining PLC +1.52%

      • On February 12, 2018 at 8:09 am,
        Excelsior says:

        The Silver Developers and Silver Explorers are also on the move today:

        Symbol – Silver Developers & Explorers – % Chg

        SSV.V Southern Silver Exploration Corp. +22.22%
        VML.V Viscount Mining Corp. +11.94%
        MMG.V Metallic Minerals Corp. +9.76%
        BBB.V Brixton Metals Corporation +9.68%
        DV.V Dolly Varden Silver Corporation +9.59%
        AUMN Golden Minerals Company +7.61%
        KS.V Klondike Silver Corp. +5.88%
        SMI.AX Santana Minerals Limited +5.56%
        DEF.V Defiance Silver Corp. +5.26%
        SVB.TO Silver Bull Resources, Inc. +5.13%
        AZR.V Azarga Metals Corp. +4.55%
        MAG.TO MAG Silver Corp. +3.66%
        G1A.AX Galena Mining Limited +3.12%
        AXU Alexco Resource Corp. +3.10%
        SVE.V Silver One Resources Inc. +2.94%
        MTR.L Metal Tiger plc +2.72%
        SDRG Silver Dragon Resources Inc. +2.47%
        BCM.V Bear Creek Mining Corporation +2.46%
        GRG.V Golden Arrow Resources Corporation +1.79%
        BCK.V Blind Creek Resources Ltd. +1.54%

    • On February 12, 2018 at 8:25 am,
      Wolfster says:

      Must just be a dead cat bounce…….I keep reading somewhere that commodities are in a bear market…..I just keep getting lucky when I play them. 😁

      • On February 12, 2018 at 11:21 am,
        Excelsior says:

        haha! Nice work. Yep, watch out for those waterfalls ya hear….. 🙂

  43. On February 12, 2018 at 7:49 am,
    Matthew says:

    Impact Silver – A Proven Silver Producer With A Higher Ceiling