Forget about geopolitics driving gold and look to central banks
Craig Hemke joins me today to address the factors that he thinks will drive the precious metals market in 2020. Looking past the recent volatility on the back of geopolitical tensions we go back to basics and central bank politics.
Click here to read Craig’s full article on his 2020 outlook for the metals.
Today is the birthday of Richard M. Nixon, who, as bad as he was, was still better than Hubert H. Humphrey. And he did come up with the draft lottery my senior year in college which saved my ass from going to fight or die in Lyndon Johnson’s illegal war.
My draft number was 283 and everyone over 190 was safe. LBJ is burning in hell for killing JFK and for his war in Viet Nam.
dang bb……….that makes you about 73 by my estimation……..
I am just 71 and still going strong. I was 21 when the draft lottery began in Dec. of 1969. I got my B.A. the following May. In Aug. of 1971 I started grad school at Indiana U. in beautiful Bloomington. After I got my masters I went back to Texas and vowed I would never suffer another winter up north. Doc and OOTB, I don’t know how you can stand those winters. How old are you?
bb………I just turned 71……….and I took your place in the draft……lucky for me I found out about the National Guard through my frat brothers……..at Bloomington IU… 🙂
Both Nixon and Hubert were better than LBJ, who basically committed slow suicide during Nixon’s first term. With a blocked artery and a heart condition, he went back to smoking like a chimney, and drinking Cutty Sark. When an attack came on due to such behavior, LBJ kept an oxygen tank handy at the Texas WH, and a few whiffs from it got him through. He let his hair grow longer, and reportedly had some sessions with a psychiatrist. One person who had seen him in action up close called him a functioning lunatic.
Read Robert Caro’s books on LBJ. The guy was always a lunatic.
I’ve read Roger Stone’s book. First the hard cover from the library, then took a few weeks to cool off. Bought the paperback, which has about 40 more pages where he names a few more names, and makes a few more connections.
I didn’t read Stone’s book but I don’t believe LBJ was at all instrumental in the JFK assassination. But he was in on it. One thing LBJ had in common with Nixon was his friendly relationship with Prescott Bush (who was far more powerful than either of them ever were). The connection goes back to at least 1953.
I did see an interview with Stone and judging by his nervous evasion of a good Bush-related question a caller had, it seems that Stone’s book is misleading on purpose.
Read:
Family of Secrets: The Bush Dynasty, America’s Invisible Government, and the Hidden History of the Last Fifty Years by Russ Baker
I sat near LBJ at the Rice-Texas football game in 1970. He was on the 50 yard line and I was on the 45, just 15 feet away. I was surprised to see his long hair and I hurled a few curses at him during the game. He was low class scum, just like Bill Clinton and Obama.
Bonzo, some old Corvettes got your number under the hood: 283 small block v8…
https://media.fastestlaps.com/chevrolet-corvette-283-fi.jpg
a vette with a 283 is like having a moped…………lol
but, that is a great picture……
what is that a 59……
It beats the in-line 6 or the 265 that many early ones came with. I can’t tell which one that is but obviously ’58-’60.
ditto on the 6………..still a beautiful auto
Maybe I should buy a red Corvette 283 when gold gets to 8K and silver gets to 200…
I had a 1958 2-seat convertible in high school and college, but it was an MGA. A Corvette or Austin Healy of that vintage would’ve been even better.
Some years ago I saw both an original Corvette and a Nash-Healey at the same auto show. The Nash-Healey had a slightly bigger engine and a 3-speed manual transmission w. overdrive, i.e. a 4-speed. Vs. the Powerslide transmission in the Corvette, I suspect the Nash-Healey could run rings around it, with the help of chassis tuning by Donald Healey, not to mention Pininfarina styling. The Corvette had styling cues employed on other GM concept cars, like the Pontiac Bonneville. Harley Earl’s successor, William Mitchell approved some much nicer designs. Earl had a thing about the P-38 fighter plane, from which he used styling cues on a number of GM products. He could be summed up as: “Hollywood Harley Earl and his fighter plane fetish.”
You might be interested in the following book about Harley Earl if you haven’t read it already:
https://www.amazon.com/Fins-Harley-General-Motors-Detroit-ebook/dp/B01HXJQ1O4
Even before Earl retired and before I could drive, was much more impressed with the works of Italian designers like Pininfarina, Bertone, Touring, et. al. One of the nicest efforts from GM, IMHO, was the ’70’s Camaro. For starters on the design work, the people in the GM/Chevrolet styling studio were given a ’50’s vintage Ferrari GT coupe, owned by a Chevrolet exec.
I’m with you all the way. The only General Motors product I ever owned was an old refrigerator but the history is interesting.
BB; you’re almost as old as I am.
I live in a wrinkled community.
Birthdays dont count until you hit 100.
Gold price rally surprised even world’s top 30 analysts
Frik Els | January 9, 202
“On Thursday, gold was retreating further from near seven-year highs reached Tuesday, but even gold bugs probably aren’t complaining (not too much anyway) about a price in the mid-$1,500s, the highest since March 2013.”
“The extent of gold’s rally caught most market watchers by surprise. Hedge funds speculating in futures were net short as recently as April and even ardent bulls’ predictions fell well short. ”
“The 2019 entries for the London Bullion Market Association long running forecasting competition show how bearish the consensus view was at the beginning of the year.”
“The 30 investment and institutional analysts in the competition predicted gold would average $1,311 during the course of the year…”
https://www.mining.com/gold-price-rally-surprised-even-worlds-top-30-analysts/
Well Ex we didnt quite a weekly close above $1566 for gold but a solid close nonetheless. I still think we could test the $1520-$1530 range and if so would hope this holds. An interesting week in PMs!
Do you think you understand big pharma and how drug pricing works ?
You may, I don’t !
https://www.wsj.com/articles/california-looks-to-launch-its-own-prescription-drug-label-11578578407
Ira’s morning
Skeena drills 5.1 m of 16.64 g/t Au at Snip
2020-01-09 08:35 ET – News Release
Mr. Walt Coles Jr. reports
SKEENA INTERSECTS 16.64 G/T AU OVER 5.10 M IN 200 FOOTWALL AT SNIP
Skeena Resources Ltd. has provided the remaining analytical results from the 2019 phase I surface exploration drilling program at the 100-per-cent-owned Snip gold project located in the Golden Triangle of British Columbia. The 2019 exploration program consisted of 10 surface drill holes totalling 1,934 m which tested the 200 Footwall Corridor.
The Dow Jones Shanghai Index looks very good:
https://stockcharts.com/h-sc/ui?s=%24DJSH&p=W&yr=3&mn=11&dy=0&id=p51441075393
All I can say is reading the above chain of posts makes me feel like a high schooler today! I wasn’t even born when those cars came out. LOL!
Craig, when will the bullion banks have to start covering their short positions in gold, which should cause the price in gold, miners to make a breakout higher?