Precious Metals are boring right now but that’s not a bad thing
Craig Hemke joins me to comment on the general boring nature of the precious metals sector. With gold, gold stocks, and silver all trading in tighter ranges investors are getting pulled away into other sectors. It’s encouraging to see gold trading in a higher range but the question has to be what will the next driver be?
Surprise, surprise, surprise! Coulda knocked me over with a sledge hammer.
Federal Taxes and Spending Set Records Through January
https://www.cnsnews.com/article/washington/terence-p-jeffrey/federal-taxes-and-spending-set-records-through-january
And of course a deficit way over a trillion.
Just proves Republoclown or Demonrat, makes no never mind, no matter how much they steal from us it will never be enough!
How can anyone disagree with that statement? IT’S FACT!
And all that’s got to be good for gold and silver, of course.
Never going to stop…….as long as there is a FAKE FED.or CENTRAL BANK
I posted this one earlier for some educational purposes……
https://www.zerohedge.com/markets/autopilot-engaged-entire-rally-has-been-fed-induced-perversion
Yes, it’s a fact. That’s why universities are populated with shysters promoting Keynesian economics. The state (as in nation state) surrounds itself with fraudulent experts to legitimize its actions.
Lots of ignorant Republicans think that central banking is necessary “in this day and age” and don’t understand that free market capitalism and central banking cannot coexist.
Of course the Democrats are even worse.
Is Central Banking a Capitalist or Communist Concept?
https://www.theepochtimes.com/is-central-banking-a-capitalist-or-communist-concept-2_2219456.html
Why Marx Loved Central Banks
https://mises.org/wire/why-marx-loved-central-banks
“The supranational sovereignty of an intellectual elite and world bankers is surely preferable to the national auto-determination practiced in past centuries.”
― David Rockefeller
It’s an infantile bunch that thinks Trump can undo what the banksters have set up for themselves and it is equally infantile to believe that he wants to.
Great comments in this thread Ebolan, OOTB, and Matthew. Agreed!
Thanks …..I humbly accept your acknowledgement……. 🙂
Haha! Cheers Amigo!
Just for heck of it, I’ll disagree.
Note it says Federal Taxes, Not Federal Income.
There’s a chunk left out that normally didn’t amount to much…….called “TARIFFS”
Also with Federal “accounting” FICA contributions are off the books.
(Just so the people did not realize the “Trust fund” is being spent.)
Tariffs aren’t chicken feed anymore.
OPUS 209 Liars! Dont Get Me Started!
Anyone get the feeling that something doesn´t add upp with Peter Schiff?
People who sell gold are often labeled as “Good guys” (sound money, honesty, high morale…) and the CNBC-crowd the bad guys. In my view he has played on those emotions to boost his companies, as he often is interviewd by the goldbug/truthmedia.
Now I don´t think he is a good guy, or a bad guy. Just a guy who is looking to gain from morons who can´t or won´t think for themselves. He said he was voting for Trump but as soon as Trump won he and his disgraced tribe brother Andy Hoffman started to bash him on every occasion they got.
I know all about his father being thrown in jail by the usual suspects and all, and Peter is using that for his own benefit.
Now everyone knows that Trump plays games with the FED and the D´s and uses government stats to benefit his long term agenda, and as an well informed analyst as Peter, one should expect he would too. But he bashes him on a daily bases, which for me is proof of where he stands.
Miklo, I have to disagree. Peter would definitely prefer Trump to any of the D’s but that doesn’t mean he shouldn’t continue to point out what’s wrong with Trump’s economic and monetary policies. I’m in the same boat. Republicans have not been true to their rhetoric for decades now and no one calls them out for two good reasons:
1.) they’re too ignorant to, and 2.) they’re just glad their guy isn’t a Democrat.
Yeah, Trump has been really good to Peters wallet.
I get the feeling he know why Trump does this, but bashes him anyway.
But the problem is that Schiff doesn´t seem to be a republican or hold republican values, but woud only vote for the one who benefit him (I know that sounds silly because I just described 80% of the population), and would not vote on ideological and moral basis.
If there were a Democrat who was mentally sane and who would run on shrinking government/gov. spendeing (which we all are for) he would most probably vote on him/her. I dont Think he cares about oter issues that are really important like we do (pro family, anti HBTQ, pro Life, law and order, securing a nations borders etc). He just seem to care about the numbers.
Thats just my view. I sure can be wrong about it. after all I´m an outsider watching in.. 🙂
Bernie would be even better for Peter’s wallet yet Peter would still never vote for him. Peter understands economics and money so he points it out when politicians on either side do stupid things. From this perspective, he is more Republican than 90% of Republicans.
Senator Robert Taft was known as “Mr. Republican” and he was the kind of Republican Schiff would be most similar to. Read the following to understand what this means…
https://mises.org/library/ron-paul-mr-republican
(Peter was Ron Paul’s economic adviser during Paul’s 2008 presidential campaign.)
Neocons are only conservative in an Orwellian way. In other words, they’re not.
I should’ve been clear that Schiff would make more money if Bernie got in because gold would probably spike if a lifelong socialist became president.
It is with disbelief that Peter says his own niece is a Bernie supporter in the following interview. Peter is against Marxist central banking, Trump is not.
https://www.youtube.com/watch?v=FrhXf6l3sfE
Brent Johnson & Peter Schiff: Settling the Debt (The Dollar vs. Gold)
Cambridge House International – Feb 11, 2020 #VIDEO
“At the 2019 VRIC, Peter fired shots at Brent for his gold forecast ($1000) during the Gold vs. The Dollar vs. Oil Panel.”
Ernest Hemingway, of all people, was right:
“The first panacea for a mismanaged nation is inflation of the currency; the second is war. Both bring a temporary prosperity; both bring a permanent ruin. But both are the refuge of political and economic opportunists.”
In case anyone is having a hard time understanding why inflation (which Trump loves) is a leftist thing, it’s because inflation is a redistribution of wealth from the many to the special few. It’s the socialization of a nations largess, by force. And because it is so insidious, it has to be among the least moral forms of taxation. It is the ultimate in “taxation without representation” that Americans are supposed to be so against.
Deficit spending (one cause of inflation) steals prosperity from the future so it can be consumed today. The larger the deficit spending, the further into the future the theft reaches. Still wondering why millennials are much worse off than their clueless baby-boomer parents?
Between the scam’s longevity and the brainwashing that has accompanied it, it’s no wonder that so few understand it let alone object to it.
Peter Schiff was also an economic adviser to Ron Paul at one point, so he definitely leans more conservative/libertarian. He is right to call out many of Trumps economic policies that are just as spend crazy as all his predecessors from either side of the isle.
I agree that old concepts of a limited federal government, fiscal responsibility, and balancing the budget are foreign ideas to almost everyone running. It is simply that compared to the wacked out socialists the republicans seem more responsible. It all ends in unserviceable debt and the citizens being robbed through taxation, the question is just at what rate.
There are some damn good comments above………..people could get an education from the above ……..JMO……
NAK breaking out. Insiders have bought at 1 Can dollar in the past and purchasing at these levels. They recently put out their prellminary EIS report with the final to come out in the summer. The odds are that they have a good chance in the near future to receive a permit.
A nice move of 25% up today for NAK, but they’ve been supposed to get all their permits for about 2 decades now, and then there is the issue of the huge amount of capital that would be needed to develop the mine, if the environmentalists concerned about the salmon spawning don’t block it once again. Pebble is truly an amazing deposit, but it does make one wonder if the economic gains would be worth the potential habitat risks in their case. Maybe there is a way to operate it soundly without do damage to the salmon and where all stakeholders win…. but after so many false starts over the years, it is hard to get too excited about Northern Dynasty until they actually are mining. Look what happened to Polymet in Minnesota where after 15 years they got their permits, but then local communities took them back to court and they rescinded the permits. It’s likely to remain in a tug-of-war for years to come, and there are other developers that will run like that which are less risky, require less capex, and can provide outsized returns as well.
Having said that, good on any investors that got positioned in NAK at depressed prices and had a win from the share price appreciation.
Maybe there is hope of the mine and fish coexisting after all. We’ll see how things develop.
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Prospects brighten for Northern Dynasty Pebble mine on leaked draft study
Cecilia Jamasmie | February 13, 2020
“A leaked draft of an environmental impact statement (EIS) on Northern Dynasty’s (TSX: NDM) proposed copper-gold mine in Alaska has brightened up its prospects, suggesting nearby terrestrial freshwater resources and downstream fisheries could co-exist with the project.”
“While the US Army Corps of Engineers’ document is not final, it could mean the government is closer to issuing a long-sought permit for the $100 billion copper-gold mine in Bristol Bay, Alaska.”
https://www.mining.com/prospects-brighten-for-northern-dynasty-pebble-mine-on-leaked-draft-study/
Hi Doc:
I still have property located in Newhalen AK approximately 20 miles from the mine site.
It is hard for me to see NAK going ahead with all the opposition. Bristol Bay Native shut them down with their original plans and I expect them to continue to do the same.
Also I did a site visit to Babbit Minnesota two years ago and talked with the locals and I found everyone in favor of Polymet going ahead. It is not surprising the list of entities apposed to Polymet. The comment regarding Polymet being a legimate comparison to the problems NAK is having at Pebble was spot on.
Try again with the 2 renewable plays that got discussed by Bruce Campbell. https://www.bnnbloomberg.ca/market-call/bruce-campbell-discusses-xebec-adsorption~1899747
Here’s the 2nd one
https://www.bnnbloomberg.ca/market-call/bruce-campbell-s-top-picks~1899815
CEO Technician @CEOTechnician (aka @Goldfinger) posts great chart on Twitter:
“Critical moment for #gold miners approaching – $GDXJ still coiling within pennant as volume & volatility drop. Which way does this resolve? #metals #mining”
https://twitter.com/CEOTechnician/status/1228065710716444683
Good Cheer For PM Sector Investors – the completing Cup & Handle Continuation Pattern in GDX …
Clive Maund – Wednesday, February 12, 2020
“Whilst it must be frustrating for Precious Metals sector investors to watch Tech stocks continuing to “shoot the moon” while PM stocks have mostly done nothing, the chart presented below suggests that this situation won’t persist for much longer.”
GDXJ is in better shape these days and that’s a good thing. A breakout looks imminent…
https://stockcharts.com/h-sc/ui?s=GDXJ&p=D&yr=0&mn=11&dy=0&id=p81810641584&a=717139295
Yes, it looks like a cup and handle on both GDX and GDXJ and the wedge looks like it is more likely to break to the upside based on support holding and indicators being cooled off at this point. It may surprise folks once again, as I see a lot of bearish belly-aching on various platforms, and that’s a great place to take off from.
Also that narrowing of the bollinger bands is going to have a nice move out of that pent up energy, and if it is to the upside, that will send the shorts covering.
PREDICTIVE MODELING SUGGESTS GOLD WILL BREAK ABOVE $1650 WITHIN 15~30 DAYS
The Technical Traders – Chris Vermuelen – February 13, 2020
“Our Adaptive Dynamic Learning predictive modeling system is suggesting Gold will rally above $1650 within the next 2 to 4 weeks, then settle into a narrow price range above $1600.”
Hey Ex. Here’s a commentary from Agnico regarding Malarctic.
Agnico research comment:
Malartic underground growing but royalties weigh on economics: Total underground M&I+I ounces almost doubled in 2019 to >10Moz (100% basis). The Malartic partnership continues to evaluate a potential underground mining operation with initial production as early as 2023. However, the Partnership is in discussions with royalty holders and other stakeholders to enhance the project economics; a project approval is not expected unless the project economics are improved.
Hmm – It is interesting that when folks sell a property with a royalty, that the buyer is always fine, and it is fair because the NAR is why the company sold it on the cheap, with the promise of future gains once in production. However, once the acquiring company is in production or ready to go into production, then they don’t like paying the royalty. How quickly they forget the sacrifice the selling company made which facilitated the acquisition and property development in the first place.
I hope this doesn’t impact RZZ or GZZ negatively, and that they hold their ground with Agnico Eagle. That is their Net Smelter Royalty fair and square.
NAR = NSR. Damn smart phone.
If Stansberry Research’s Dr. Steve Siuggerud’s message happens, it’s will be interesting! He’s forecasting a melt-up in the general markets by summer. Claims it would be no surprise if the Nasdaq hit 15,000 before the top out and collapse. Yes, this is a sales message to sell his newsletter.
Anyway, if it happened, those generalists may pull from everywhere to take part so holding some cash may be prudent between now and mid summer.
Good interview with Craig. Thanks Cory.