Weekend Show – Sat 18 May, 2019

Hour 1 – US Markets, Bonds, and Metals

Another week dominated by trade worries and another week where the US markets managed to ignore the worries for the most part. Gold got off to a good start but steadily sold off to disappoint the bulls yet again. We discuss all of these points as well as the bond market which broke out this week.

  • Segment 1 – Peter Boockvar, CIO at Bleeckly Advisory Group and Editor of the Boock Report share his thoughts on the overall Us markets and liquidity flows.
  • Segment 2 – Peter Boockvar is back to discuss the bond market and gold sector. Click here to visit The Boock Report website.
  • Segment 3 – Erik Wetterling, Founder of The Hedgeless Horseman – “Stick to tier 1 companies and you will do the best in this market. Also some comments on the Atlantic Gold deal this week.
  • Segment 4 – Andrew Thompson, President and CEO of Palamina Corp. provides some more insights on a the sale of two assets in Peru. There is a lot more to the deal than just the sale of assets.

Exclusive Company Interviews and Commentary This Week


Peter Boockvar – Segment 1
Peter Boockvar – Segment 2
Erik Wetterling
Andrew Thompson

Comments:
  1. On May 18, 2019 at 4:55 am,
    cfs says:

    Canopy Growth opens Tweed store in London, Ont.
    2019-05-17 20:06 ET – News Release

    An anonymous director reports

    HI. LONDON. WE’RE HERE AND WE CAN’T WAIT TO MEET YOU.
    Canopy Growth Corp. brand Tweed has just arrived in London. A local London licensee has collaborated with Alimentation Couche-Tard to bring the Tweed brand retail experience to the city, and we are proud to announce that our doors are now open!
    With a commitment to best-in-class customer service, quality assurance and a wide variety of products and accessories, Tweed has set the standard for recreational cannabis and we are so excited to bring the very first Tweed branded retail cannabis store in Ontario to London.
    The Tweed store team looks forward to meeting the neighbours and creating a hub for adult recreational cannabis education and culture.

  2. On May 18, 2019 at 5:29 am,
    OOTB Jerry says:

    Another freaking con job …..by LBMA….
    https://www.bullionstar.com/blogs/ronan-manly/pay-to-play-lbma-shows-contempt-for-the-wider-gold-and-silver-markets/
    You can now have the information if you are willing to PAY $18,000

    • On May 18, 2019 at 5:30 am,
      OOTB Jerry says:

      But what, you might say, did you expect from the LBMA and the behind the scenes guiding hand from the Bank of England. Transparency? After all, a bullion bank cartel with supposed sovereign immunity does not play by the same set of rules as you or I.

      Perhaps the immortal better sum up the situation, when he perceptively said:

      “If you are searching for facts you will find them, but the items you find will not be true!

      Did you think that the high powered world of the LBMA would operate in a fishbowl for all to see?”

  3. On May 18, 2019 at 5:46 am,
    OOTB Jerry says:

    https://www.bloomberg.com/news/articles/2019-05-15/bitcoin-rally-is-masking-capital-flight-from-crypto-exchanges
    BITCON………..
    Bitcoin’s more than 30% price rise since last week may have been exaggerated by capital flight from the controversial exchange Bitfinex and its affiliated stablecoin Tether in the wake of allegations that the companies that control both co-mingled client and corporate funds to hide losses. As in past periods of turmoil, investors are seen seeking the safety of Bitcoin because it’s the largest and most liquid token.
    TokenAnalyst, a London-based provider of blockchain data, estimates that withdrawals from trading platforms including Bitfinex, BitMEX, Binance and Kraken have exceeded
    inflows by about $622 million over the past 5 days.
    Read More: Ex-NFL Owner Said to Be Tied to $850 Million Crypto Mystery

    Bitcoin traded at a premium of as much as 6% on Bitfinex compared with other crypto exchanges after the funding controversy broke, while prices of many other coins initially tumbled since Tether is widely used throughout the $250 billion market as an intermediary in crypto trading. The premium disappeared this week after Bifinex said it raised the equivalent of $1 billion through an online sale of tokens.
    Football hero……..fraud………playing the numbers…………lol

    • On May 18, 2019 at 5:48 am,
      OOTB Jerry says:

      https://www.bloomberg.com/news/articles/2019-05-03/ex-nfl-owner-is-said-to-have-ties-to-850-million-crypto-mystery
      Cause and effect………….bitcon………from a con man…….ex football scam artist….

      • On May 18, 2019 at 5:49 am,
        OOTB Jerry says:

        When New York’s attorney general last week accused Bitfinex — one of the world’s largest crytocurrency exchanges — of hiding the loss of about $850 million in client and corporate cash, a crucial question was left unanswered: What happened to the money?

        • On May 18, 2019 at 9:48 am,
          Excelsior says:

          OOTB – Great points on the weakness of the crypto currency exchanges and other coins, causing a reallocation back into Bitcoin by nervous investors. That may be responsible for some of the momentum to the upside in Bitcoin, but not explain all of it.

          When Bitcoin crashed from over $19K to $3k, it was very oversold and we mentioned on here a few times at those levels that it was due for bounce of a few thousand dollars. I figured it would get up to the $5K-$6K area, but wasn’t expecting the $8K. It was a bit peppier than expected, so it’s possible this flood of funds out of Tether and back into Bitcoin may have played some part.

          There is a big catalyst that very few are even discussing though, which was that when Bitcoin was at it’s peak at $19K they had introduced Futures trading, and when it crashed down to $3K with minimal volume several financial institutions closed their Futures trading platforms. That had a big impact on marking the top and bottom on that move.

          • On May 18, 2019 at 9:51 am,
            Excelsior says:

            As for the missing $850 Millions in Bitfinex, and the dude that may or may not have faked his own death……. Maybe that missing money is with the missing $21 Trillion our government seems to have misplaced….. 😉

          • On May 18, 2019 at 9:55 am,
            Excelsior says:

            The most cringy thing I remember seeing during the Bitcoin frenzy back in late 2017 and early 2018 was the insanity over at Bitconnect.

            This is the original talk from the conference from a total liar and dubious promoter that also marked the top. In retrospect, the frenzied retail investors sopping up his every word should have caused more red flags to immediately go off, but “Love is Blind” as they say….

            What a complete sham and sleazeball…..

            __________________________________

            Bitconnect Ceremony (Original) – Carlos The Meme
            Jan 23, 2018

            https://youtu.be/lCcwn6bGUtU

          • On May 18, 2019 at 10:00 am,
            Excelsior says:

            However, once the Crypto Bubble popped, nutty presentations like this became fodder for goofy songs and remixes like this one:

            BitConnect :New Music Video ”Carlos from NY- hey hey hey”

            https://youtu.be/vhyAREaWfyU?t=33

          • On May 18, 2019 at 10:02 am,
            Excelsior says:

            This other variation set to Michael Jackson’s “Smooth Criminal” was pretty funny:

            BitConnect Classy Exit Scam Remix [Carlos Performs Smooth Criminal]

            Jan 30, 2018

            https://youtu.be/d4a88-IhAVw?t=1

          • On May 18, 2019 at 10:09 am,
            Excelsior says:

            That is exactly what a fever-pitch overbought madness of the crowds bubble top sounds and looks like.

            Anyone that it was going to keep climbing at that point was poisoned by FOMO Kool-Aid.

          • On May 18, 2019 at 10:12 am,
            OOTB Jerry says:

            Thank you…….EX……..

          • On May 18, 2019 at 10:22 am,
            Excelsior says:

            Cheers OOTB. Ever Upward!

      • On May 18, 2019 at 5:51 am,
        OOTB Jerry says:

        “Given that the Bitcoin market can be manipulated in such a significant way, it would not be a stretch nor surprising to find that manipulative activity is behind the recent run up when the underlying market mechanics are similar to before,” Griffin said.

      • On May 18, 2019 at 5:53 am,
        OOTB Jerry says:

        Sucker born everyday……….BT Barnum and the Circus……still running……what a joke

  4. On May 18, 2019 at 6:15 am,
    Charles says:

    +1

  5. On May 18, 2019 at 9:31 am,
    Excelsior says:

    Good thoughts from everyone on the KER this weekend.

    Personally, I enjoyed Peter Boockvar ‘s thoughts on the macro picture with the global positioning during the Trade Wars, Interest Rates changes in the Currency Wars, and also how he noted the Small-Cap and Mid-Cap companies were underperforming the Large-Cap stocks and Blue Chips & Tech behemoths. I’ve noticed that to be true in my retirement account where I have a few Small-Cap and Mid-Cap mutual funds that haven’t done quite so well as the broad averages.

    It was also great to get Erik Wetterling ‘s perspective on how he invests and re-balances his portfolio when some under-valued stocks pop up for trimming profits and repositioning those funds into undervalued stocks with strong fundamentals that plunge down at the same time. Always good to hear from The Hedgeless Horseman.

    Cheers!

    • On May 18, 2019 at 9:42 am,
      Excelsior says:

      Cory – Thanks for asking Erik about the Atlantic Gold deal and what it may mean for the mid-tiers and further developed small producers and advanced development stage companies. Other companies that have run like Atlantic Gold and Kirkland Lake are Wesdome and one I’ve had a big holding in for it’s run up K92 Mining.

      The other point that a number of commentators have mentioned all year is that the Aussie Producers have been cashed up from both a very favorable currency exchange and solid operational improvements. The Australian miners don’t get nearly enough attention, but as foreshadowed, at the end of 2018 and early 2019 when seeing their presence at mining shows increase — It is the cashed up Aussies that will be on the hunt for North American and African assets, and that is precisely what we’ve seen with Newcrest, Oceana, St Barbara, and even that hefty acquisition of Northern Star Resources of the Pogo Gold Mine from Sumitomo at the end of 2018.

      I’m happy that topic got covered in this weekend’s show during Erik’s interview, and I believe we’ll still see more consolidation in the Aussie stocks and their appetites to diversify and acquire other distressed mining companies overseas.

  6. On May 18, 2019 at 10:50 am,
    Excelsior says:

    The Palisade Blog – May 17 2019 – Highlights from Day 1 at the 2019 Palisade Hard Asset Conference

    by @PalisadeRadio on 18 May 2019

    Featuring: Rob McEwen, Marin Katusa, Frank Holmes, Matt Geiger, Paul Matysek, and Gregory Crouch.

    https://ceo.ca/@palisaderadio/the-palisade-blog-may-17-2019-highlights-from-day-1-at-the-2019-palisade-hard-asset-conference

  7. On May 18, 2019 at 3:12 pm,
    irishtony says:

    “WOW”..Can you imagin the the toxic damage this would cause to the surrounding area if it failed.
    https://www.sgtreport.com/2019/05/the-massive-46-story-tall-structure-the-penasquito-mine-tailings-dam/

  8. On May 18, 2019 at 7:14 pm,
    cfs says:

    Silver: The true Story….

    !n 1990 the above-ground world supply of silver was about two billion ounces.
    From then on there was a supply deficit until about 2007, when the above-ground inventary was down to about 500 million ounces.

    Since 2008 there has been an increased emphasis on discovery and mining and supply deficit turned into surplus.
    The above ground world stock of silver now stands at approximately 2.5 Billion ounces.

    It is expected that the changeover from 4G to 5G electronics will consume a significant portion of the above-ground stock.

  9. On May 18, 2019 at 9:10 pm,
    cfs says:
    • On May 20, 2019 at 4:12 am,
      paul says:

      Thanks for the link.

  10. On May 20, 2019 at 3:07 am,
    paul says:

    Nice show.

  11. On May 20, 2019 at 9:05 am,
    Bill says:

    Hate to tell ya TOLD YA SO. Gold has been a dud for years and it will continue.
    Moriarty and all the other gold deadheads have been dead wrond for years about this suposed massive bull market we are in. NOT!!! Lol What a waist of time.! Glad I didn’t waste mine. To recap the talk was the US would collapse…what did I say? The US was the best place to hide for a number of reasons. It will continue for a some time before the whole thing comes crashing down but thats way ahead. Steady as she goes and BOBs a broken clock with brutal timing. So piss on all the fools that attacked me as I was right.

    • On May 20, 2019 at 10:27 am,
      JMiller says:

      Silver has even been worse

  12. On May 20, 2019 at 10:27 am,
    JMiller says:

    Silver has even been worse.

  13. On May 21, 2019 at 8:31 am,
    Bill says:

    Yes and I meant both PMs. I dont see anything exciting for some time. Money is coming out of Europe and that assisted the DOW for a few years now. The USD is the go too as everything else sucks way worse. If one reads back 10 yrs on what gold bugs said. OMG Bob M went on calling the USD used toilet paper….moron indeed. While the same conditions will persist… therefore dont gamble with gold unless you live in Venezuela or one of those other fine countries. My commercial RE has doubled in 3 years with my added improvments and I sleep like a baby at night. Gold sucks. Oh Bob said he was backing up the truck to silver at $16 some time ago lol paper weight. I love my $20k rent cheque! Play safe

  14. On May 21, 2019 at 10:40 am,
    OOTB Jerry says: