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Weekend Show – Thoughts On The PM Market From The Beaver Creek Conference And Recaps Of Key Interviews From The Week

Cory
September 17, 2022

 

This was a very busy week as I attended the Beaver Creek Precious Metals Summit. It’s an intense conference where investors and companies meet one-on-one for 25 minutes all day long for 3 and a half days. I was able to spend 2 full days there and had 25 meetings. It was great to catch up with everyone and to get a good feel for the health of the overall sector. I am very lucky to receive an invite every year to this conference. The first segment of the show is my recap and key takeaways from the conference.

 

Since the markets had a wild week we figured it would be best to recap the Daily Editorials that best summarized the wild ride markets and metals experienced.

 

Please keep in touch with Shad and I through email. We love to hear your thoughts on markets and feel free to ask us any questions you have. Our email addresses are Fleck@kereport.com and Shad@kereport.com. 

 

  • Segment 1 – I recap my main takeaways from Beaver Creek Precious Metals Summit. It’s one of the best conferences I go to every year because of the direct one-on-one access to companies. Please send us your thoughts on what I had to say about this sector.
  • Segment 2 – Replay from Wednesday when Shad chatted with Jordan Roy-Byrne – Macro Views On Hotter CPI And Fed Policy, Technical Outlook on Silver, Gold, and Mining Stocks.
  • Segment 3 – Replay from Thursday’s interview with Brien Lundin – Making Sense Of Gold In These Upside Down Markets And The Upcoming New Orleans Investment Conference
  • Segment 4 – Reply from Friday’s interview with Marc Chandler – All Eyes Still Fixed On Central Bank Rate Hikes And Inflation Expectations.

 

Exclusive Company Interviews This Week

 

 


Cory Fleck
Jordan Roy-Byrne
Brien Lundin
Marc Chandler
Discussion
82 Comments
    Sep 17, 2022 17:21 AM

    Thanks to all the KE Report guest contributors for another great week of daily editorials, company interviews with management, and another solid weekend show with Cory, Jordan, Brien, and Marc.

    Also thanks to all the listeners of the podcast and radio show, and those members of the KER crew that post and participate here on the blog, sharing insights with our community. Ever Upward!

    Reply
    Sep 17, 2022 17:33 AM

    The Week On Wall Street – A Long Road Ahead

    Fear & Greed Trader – Seeking Alpha – Sep. 17, 2022

    – It’s been a two-year period where the majority of analysts have been wrong.
    – US Manufacturing continues to struggle while retail sales stay resilient.
    – Inflation is proving the experts wrong again.
    – Global growth expectations are at a level last seen during the Great Financial Crisis.

    “Heading into the last quarter of 2022, we can safely say we’ve never experienced anything like the current backdrop before. For one, this Quantitative Tightening cycle won’t be like the others. The unwinding of the balance sheet is set to ramp up this month with the Fed increasing its reduction pace from $47.5 billion to $95 billion per month. Given that it is coinciding with the most aggressive tightening cycle in 20 years and that tightening is occurring globally (e.g., Canada, Europe, UK), Treasury market liquidity will likely be challenged, and bond market volatility will likely be elevated in the months ahead.”

    “In terms of bad analysis, the rate at which economic data has been coming in weaker than expected recently hit its highest level over a trailing two-month period than all but one other period in the last 22 years. That one period was at the depths of the Financial Crisis. Yet there remain those that cling to the notion that the economy is doing just fine.”

    “Market analysts were way off the mark this past earnings season. They forecasted a disastrous earnings season, but the actual results weren’t nearly as bad, and the S&P 500 had its best earnings season performance in more than 10 years. Positive corporate EPS will support stock prices, but there is growing concern estimates are way too high given the state of the economic data. Plus, the lag effect of tightening on the economy will also cause a moderation in earnings for a while. Analysts may now find themselves wrong again by being too optimistic…”

    https://seekingalpha.com/article/4541611-the-week-on-wall-street-a-long-road-ahead

    Reply
    Sep 17, 2022 17:35 AM

    Inflation And Central Bank ‘Psy-Ops’

    Jesse Felder – The Felder Report – (09/17/2022)

    https://mailchi.mp/felder/inflation-and-central-bank-psy-ops

    Reply
      Sep 17, 2022 17:35 AM

      >> Quote by Thomas Jefferson On Central Banking

      “If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered…. I believe that banking institutions are more dangerous to our liberties than standing armies…. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.”

      This quotation is often cited as being in an (1802) letter to Secretary of the Treasury, and/or later published in The Debate Over the Recharter of the Bank Bill (1809).

      Reply
    Sep 17, 2022 17:53 AM

    The Tipping Point for Gold

    By David Brady – Sprott Money – September 16, 2022

    “Gold got hammered this week following the higher-than-expected CPI. Although that was the trigger, there were signs this was coming. Gold stalled at its downtrend resistance in red and resistance at 1740 in blue, a powerful confluence. After such a long decline and so many attempts to break 1675, it was a magnet for the Bullion Banks to take out the stops below there before any change in trend to the upside could occur. This is precisely what happened Thursday. However, now we have a positively divergent lower low across all indicators. This is the ideal scenario…”

    “Sentiment is in the sewer too, a wonderful contrarian indicator. Funds are net short Gold for the first time since 2019, when Gold was bottoming out in the 1200s. Small Speculators—i.e., retail, the so-called “dumbest of money”—have their lowest net long position since December 2018. Both Funds and Small Specs are almost always wrong at extremes.”

    “The 10-Year nominal yield just hit a negatively divergent double top at ~3.50, with the risk of a few more basis points higher… the DXY looks like it is finally running out of steam following multiple negatively divergent higher highs on both the weekly and daily charts. However, I don’t rule out a move up to 113 before a bigger dump occurs.”

    “In the meantime, China and India in particular continue to load up on physical Gold. Bridgewater is joining the party by buying into three physical-backed Gold ETFs in China. Silver is being drained from the SLV ETF, the LBMA vaults, and the COMEX futures markets…”

    “Don’t try to catch a falling knife, but wait for a break of resistance. That resistance is 1740 unless Gold falls much further, then 1680 becomes the resistance to break. Then look for a higher low followed by a higher high to signal that the bottom is in. Until then, the trend remains down for now. Whenever that bottom does occur, there is a massive amount of fuel built up for what follows.”

    https://www.sprottmoney.com/blog/The-Tipping-Point-for-Gold-David-Brady-September-16-2022

    Reply
    Sep 17, 2022 17:04 AM

    Ira Epstein’s Metals Video (09/16/2022)

    #TechnicalAnalysis, Gold, Silver, Copper, Platinum

    https://youtu.be/ShmFpAY_RO0

    Reply
    Sep 17, 2022 17:04 PM

    Despite the somewhat rough week, Hecla managed to end its parabolic SAR downtrend at 20 weeks…
    https://stockcharts.com/h-sc/ui?s=HL&p=W&yr=3&mn=0&dy=0&id=p84454562199&a=1252749751

    Reply
    Sep 17, 2022 17:34 PM

    KTN fell on huge volume yesterday, the biggest in 6 months by far. Such volume spikes often mark ends of trends but it does look like it can go a little lower easily as long as the sector remains under pressure.
    The P&F chart price objective is $1.25, about 12x the current price.
    https://stockcharts.com/h-sc/ui?s=KTN.V&p=D&yr=1&mn=1&dy=0&id=p25033079588&a=788121266

    Reply
      Sep 17, 2022 17:41 PM

      That’s an interesting KTN chart in that it looked initially like Kootenay had formed a W-shaped double bottom and was going to rally, but then it turned over and retested those levels a 3rd time now, and as you noted on higher volume. It would be a good place for selling to have become exhausted and for support to hold a 3rd time in that general zone.

      If for some reason, the metals just fall out of bed next week as some have proposed could happen on the 75 basis point Fed rate hike (which most would actually expect to already be priced in already… but whatever, people still keep expecting the hike itself to trigger another waterfall decline), then I’ll consider adding KTN during any further selling back into the fold. I’ve already got 22 silver positions, but I guess I could take that back up to 2 dozen if we see more sector selling.

      Reply
      Sep 17, 2022 17:18 PM

      Matthew, apparently KTN has reached the end of its current drilling program with all results having been reported, and no fresh news to drive the price higher. Therefore a drift lower.
      Do you see them doing some share placement in preparation for next round of drilling?

      Reply
        Sep 17, 2022 17:47 PM

        With $3-$4 million in cash and no debt I hope management waits for a much higher silver price before raising more money.
        Based on the assets in the ground the company already has, I think the shares will rise just fine if silver takes off. Unlike most silver plays, I expect Kootenay’s leverage to silver to increase as silver goes above 30. It has a lot of low grade silver which will probably cause it to act like a call option that is way out of the money.

        Reply
    Sep 17, 2022 17:03 PM

    SLV (and Silver) took back its 500 week (roughly 10 year) MA. Taking back speed line resistance which is currently around 24 will be a big deal…
    https://stockcharts.com/h-sc/ui?s=SLV&p=W&yr=6&mn=0&dy=0&id=p23154514606&a=554922873

    Reply
    Sep 17, 2022 17:21 PM

    Brixton Metals went up 55% following its July low but is now 18% above it. The P&F price objective is 1.44 which is 11x the current price. It’s interesting that none of the gold-silver mining ETFs or silver have bullish P&F price objectives buts gold’s is 2750 which is 1.63x the current price.
    https://stockcharts.com/h-sc/ui?s=BBB.V&p=W&yr=2&mn=5&dy=0&id=p56770346254&a=1238084544

    Reply
      Sep 17, 2022 17:42 PM

      Matthew:
      Not sure if it is important, but I am now overweight in Brixton because of their copper hit. Since the algos think copper only goes in A/C units on the Hamptons and they haven’t off loaded their Bentley’s for an EV vehicle yet, it could be that there is a near term under valuing of the copper hit. Just trying to think why Brixton didn’t hold after the copper hit. You know Brixton way more than most all of us.

      Reply
        Sep 17, 2022 17:28 PM

        There are many possible reasons it didn’t hold after the copper hit…
        -Copper is 30% off its March high which is not appealing to the price-chasing herd
        -Brixton seems a bit overlooked by copper investors as it moves more like gold (and silver) than copper. Notice that it topped with gold about 20 months before copper topped…
        https://stockcharts.com/h-sc/ui?s=%24COPPER&p=W&yr=3&mn=0&dy=0&id=p57655592037
        -Recent financings
        -“Summer doldrums”
        -Interest rate/stock market/bond market/real estate fear takes a toll on investor interest in all speculative assets
        -It can be difficult for an individual stock to buck its own sector (which is also why “a rising tide lifts all ships”)
        — — —

        I hold Brixton just as much (probably more) for its gold and silver potential as its copper potential and the potential for all three is huge.

        Reply
          Sep 17, 2022 17:45 PM

          Thanks. That all makes sense. First time I owned Brixton, it was about silver. But, I agree about the current 3way threat. Sounds even better.

          Reply
    Sep 17, 2022 17:28 PM

    I don’t want gold to finish the month and quarter below 1650 or even at the current level for that matter…
    https://stockcharts.com/h-sc/ui?s=%24GOLD&p=M&yr=14&mn=0&dy=0&id=t6003402448c&a=1251639028&r=1663453541970&cmd=print

    Reply
    Sep 18, 2022 18:00 AM
      Sep 18, 2022 18:16 PM

      Powell, Central Banks, Wall Street, Politicians and those involved in the fraudulent unregulated derivative markets definitely want inflation to coverup the massive debt and theft.. Joe Public is never a concern no matter what FedSpeak BS they fling out from their criminal arrogant mouths (strong message follows …)

      Reply
        Sep 18, 2022 18:18 PM

        Fake Fed……… and the sheeple are so stupid, they been going along with it for over 100 yrs..

        Reply
    Sep 18, 2022 18:01 AM

    Ex and all…We discussed the voracity or accuracy issue regarding those daily economic numbers released by government statisticians…This guy has reasons to believe that the daily data flow on PPI, GDP, Inflation,employment etc etc etc…….All massaged and manipulated…glta

    Orwellian 1984 number revision department per the ministry of truth…..sad

    https://www.youtube.com/watch?v=FlwyuPqRd4k

    Reply
      Sep 18, 2022 18:56 AM

      Larry – Thanks for sharing that video with Greg. Yes, most of the numbers on these “official” reports or data points are absolutely massaged in how their numbers are calculated (often off dubious surveys, forward projections based on past data, and often using flawed models that selectively remove key data and give false signals).

      Unfortunately, this data that is regularly “reported” is what the main stream financial media focuses on, and it is also the data that informs how institutions trade and what HFT algos are keyed off of…. for better or worse… and it becomes a self-fulfilling prophecy (like the TIPs market nonsense that Jesse Felder, Craig Hemke, and Brien Lundin have all pointed out in recent interviews here on the KER, or the crazy way they calculate the Jobs Number).

      Yes, there are many aspects of society, news, politics, and public health messaging that is very 1984 revisionist group think, flip flopping, and misinformation seen as truth and truth seen as misinformation…. very similar of the “Ministry of Truth” from that book, or like Fahrenheit 451, or Brave New World.

      Reply
    Sep 18, 2022 18:19 PM

    doc believes it and you should believe in him…if you don’t believe,simply how will those pills work…ya know?…….’the jab is therapeutic’…lmao…..just like all the anti-health pills and vax’s he sold patients on….good doc though…for the fool clientele……if he says it, must be true…he is a doc…lmao

    https://www.redvoicemedia.com/video/2022/09/dr-pierre-kory-i-would-have-never-believed-the-things-that-ive-seen-before-two-and-a-half-years-ago/

    Reply
    Sep 18, 2022 18:42 PM

    8 straight red candles in the fraudulent paper markets. Another day, another fraud ….

    Reply
    Sep 19, 2022 19:08 AM

    I think Brixton has a very good chance of putting in a major low between now and mid-October. I would like to see the 14 day RSI reach oversold levels before I buy anymore, however.

    It’s quite possible the FOMC sparks a 3-4 week bloodbath in the miners, although it could go either way. I am inclined to believe they will talk tough this week, which likely means more pressure on the metals complex in the near term.

    Reply
      Sep 19, 2022 19:28 PM

      Here’s looking at you, I put a bid in for Brixton today @13 cents, when I got home my order had been filled. Nice! DT

      Reply
        Sep 19, 2022 19:06 PM

        15+% tacked on to value of BBB…effortlessly and for little apparent reason. Good for you!

        Reply
          Sep 20, 2022 20:13 AM

          Hi Terry, are you sure you aren’t from mainland Canada, you never know with the internet. LOL! DT

          Reply
            Sep 20, 2022 20:58 AM

            Vancouver originally but now China/Australia

    Sep 19, 2022 19:35 AM

    Thanks for that clip Larry, it was very good and succinct.

    Reply
    Sep 19, 2022 19:13 AM

    Is this one of Powell’s indicators? Just wait for another 1.5% points increase, that will be the death of the housing sector.

    https://www.cnbc.com/2022/09/19/more-homebuilders-lower-prices-sentiment-falls-for-ninth-straight-month.html

    Reply
      Sep 19, 2022 19:03 PM

      Hi Dan, The Federal Reserve has a new policy, we will lift interest rates to squeeze inflation out of the system, but the truth is they will allow inflation to melt away the debt. DT

      Reply
        Sep 20, 2022 20:57 AM

        Powell is too smart not to know that increasing the money supply by a couple trillion would jack up inflation.

        Reply
    Sep 19, 2022 19:24 AM

    GCC (unweighted commodity complex) will likely see more weakness over the next couple of weeks IMO. I think any tag of the sharply rising 100 WMA is a strong buy.

    Reply
    Sep 19, 2022 19:37 AM

    simon hunt is a beast…loud and clear see’s the future as inflationary maximus…

    https://www.thehedgelesshorseman.com/gold/simon-hunt-the-feds-choice-is-simple-hyperinflation-or-recession/

    Reply
    Sep 19, 2022 19:29 PM

    Something is happening at 5 of the Major Mints………..
    They are being headed by HR persons., and all women….. BIX WEIR……reporting…..

    Reply
    Sep 19, 2022 19:24 PM

    AngloGold Ashanti has just purchased some properties from Coeur Mining in Nevada that will compliment their Corvus Gold takeover in the Beatty district for $150 million. That should give Pure Gold some room to let their share price run. DT

    https://thevault.exchange/?get_group_doc=143/1663577614-19Sep2022AngloGoldAshantiagreestoacquireNevadapropertiesfromCoeurMining.pdf

    Reply
      Sep 20, 2022 20:24 AM

      DT – Thanks for the heads up on that transaction with Coeur and AngloGold Ashanti, where CDE is selling AU their Nevada assets. I’m a CDE shareholder, and saw it move up over 17% today, but hadn’t gone to check out why that happened and saw your comment.

      Personally, I’ve been following this area of Nevada for a long time. I got into Corvus last year, right before AngloGold took them over, after having mentioned that was my thesis. I have also written about this exact potential of Couer selling their Sterling Deposit (that they acquired from Northern Empire that I was also in prior to CDE’s takeover of that company) to compliment AU’s Silicon deposit and Corvus’s assets. Obviously AngloGold Ashanti is insanely excited about this whole area. We also brought onto the show Orogen Royalties OGN to highlight them being of the same view that AU is stoked about their Silicon deposit in Nevada, and upon which they hold a NSR.

      However, despite all of this being obvious for anyone following this area of Nevada for a while, I’ve talked off-mic to about a half dozen or more guests on our show about the potential of CDE to sell AU the Sterling deposit to help fund part of Rochester’s expansion, and nobody seemed to think that was going to happen. I got a lot of “maybe, but unlikely” types of responses, or “we’ll, see anything could happen over time”. I was more implicit that this would be happening in the next year or so though, to help fund the expansion of Rochester an divest the project as it looks like AU is going to have the mine and it makes sense for them to be combined into one larger project. I will say, there was one analyst at Sprott that totally got it, Steve Todoruk (to his credit), and he actually provided me a bit more evidence to that effect after his site visit to the area where he saw all the work being done by AngloGold Ashanti and with them being super quiet about everything so as to not draw too much attention to the area. Well, looks like the acquisition of Sterling just happened despite the naysayers, and not to the surprise of Steve or I or anyone that followed the acquisitions of Northern Empire or Corvus.

      I had also mentioned this likelihood on a Taylor Dart article where he was slamming the dilution that would come in CDE to raise funds for the Rochester expansion. I didn’t disagree that they’d have to raise some funds through a PP which would be dilutive, or through debt for Rochester, but had pointed out they could always sell Sterling to AngloGold and raise $100million – $150million. T.D. got all pissy with me about it, and said it was highly unlikely and he wasn’t going to calculate much value to Sterling or the likelihood of a sale from CDE to AU. Well, the news says otherwise, and I guess it wasn’t such a crazy idea, now was it?

      _____________________________________________________________________________________________________________

      Coeur Announces Agreement to Sell Southern Nevada Holdings for Upfront Cash
      Consideration of $150 million

      September 19, 2022

      https://www.coeur.com/_resources/news/nr_20220919.pdf

      Reply
          Sep 20, 2022 20:49 AM

          As for the potential for AngloGold Ashanti to takeover Pure Gold, I also still believe that is on the table, but maybe punted back until after they get this Sterling acquisition completed from Coeur first.

          That is fine by me, as I’m just back in Pure Gold as of last week, and now that Mark O’Dea has moved in as CEO, and has been buying on the open market, which is much more confidence inspiring than the previous captain. Mark is going to get this leaky ship turned around and sailing the high seas again, based on how he has performed in other companies where he comes in as CEO. (prior to this he was only more loosely affiliated through the capital stake that Oxygen Capital had in the company, but now his reputation is on the line, and I’ve seen Mark work like a champ before, and believe success leaves clues…

          PGM could really run a lot higher on a percentage basis from it’s currently setup, as it is so crushed down in market cap. I’ve mentioned previously that Pure Gold has fallen so far since going into production in December of 2020, that it is now trading below a number of drill plays that don’t even have resources defined yet, much less the sunk costs of a mine built that is in production or fellow peer gold producers.

          In addition PGM has plenty of exploration upside in the 8 Zone and at depth, which would be consistent with the Red Lake Gold Mine that Goldcorp used to have and sold to Evolution Mining. They kept finding higher grade zones at depth that made it a more and more profitable mine, and with Pure Gold on the same trend in Red Lake, I see that being a high probability with their deposit as well.

          Anyway, I was trying to get into a few Beta plays that investors had really soured on (bordering on hating on) and Pure Gold was definitely one of those “Ugly Duckling” stocks, that looked poised to spring higher and surprise the daylights out of many that had left it for dead. I’m glad Mark and the new focused team & strategy will have a little more time to get things moving before AngloGold or another company comes in and scoops them up. I do believe the eventually sale of Pure Gold to a larger producer is Mark O’Dea’s strategy as well, like it has been on every other company he’s been affiliated with. Maybe that is 2023 proposition now though, so in the meantime, let’s see how the next few quarterly operations reports go, and if they keep finding success with the drill bit and exploration efforts.

          Reply
            Sep 20, 2022 20:11 AM

            Kudo’s to you Ex, on spotting the deal that just went down with Anglo ahead of the curve. Your reputation in this market is building and it is well deserved. Keep sharing your insights with the rest of us and it will drive traffic to this site. Speaking of which, I knew when I posted that little ditty on Anglo that if you hadn’t already read the news that it would perk your ears! LOL! DT

            Sep 20, 2022 20:26 AM

            And Ex, I am back in PGM, it is such an insane valuation, I just can’t believe how badly mauled their share price is. I’m sure that the right people like Mark O’Dea and a few others are going to get this project back on track and make it a hit at the box office, a bust out if you will. What company wouldn’t love to have a successful operation in Red Lake, they will make this mine a reality. Spoken by a true realist. DT

            Sep 20, 2022 20:10 PM

            DT – Thanks for the kind words amigo. Yes, I’ve just been following this Walker Land trend in Nevada for a long time with Scorpio Mining, West Vault Mining, Northern Empire ( acquired by Coeur and soon to be in AngloGold Ashanti’s portfolio), Corvus (acquired by AngloGold Ashanti) and the work AU is doing at their own Silicon deposit (that Orogen Royalties has the NSR on). It’s a very prolific trend, and I’ve already been in 2 takeovers and 1 divestment sale in just the last few years, so it was inevitable it would all be consolidated into one project by one of the big boys…. and now it has….

            Also, agreed on the eventual turn-around with Pure Gold getting more traction in the quarters to come. Providing they are not taken out too early near these lows, and that they have a reasonable timeframe to ramp things up and keep exploring to extend mine life, then I see PGM as being a multi-bagger from these low levels.

    Sep 20, 2022 20:13 AM

    Gareth Soloway – Bitcoin Price Gears Up for Collapse to $12,000… Gold to Remain Top Asset

    Stansberry Research – Sept 19, 2022

    Gareth Soloway says that he is a huge gold bull due to the relative performance of gold to the dollar, “and the fact gold is only down 5% with the dollar up 15% says all you need to know.” He continues on to say that the bond market is made up of the smartest money in the world, and it does not believe the Federal Reserve will hike rates again after Wednesday based on priced-in economic data. Soloway believes the dollar is getting ready for a reversal, “and markets will rejoice.” “Crypto regulation is needed and I welcome it,” he concludes.

    https://youtu.be/I1Uivyz33BI

    Reply
    Sep 20, 2022 20:13 AM

    One company that I’ve not seen much chatter on lately is Jaguar, and they just had some nice drill intercepts at Pilar, extending the life of mine. Technically, it looks like the stock has been bottoming and basing for the last 4-5 months, and it should have some nice torque to the upside if gold gets moving in the near future. Of course, it could still break one level lower in “sell everything” type of scenario, but overall, it would seem that most of the damage has already been done to JAG at this point.

    I personally have been solidifying my JAG position over the last few months, as I could see it being a solid double from here, and potentially much more in a true bull market.

    ___________________________________________________________________________________________

    (JAG) (JAGGF) Jaguar Mining Reports Confirmed Continuity of Mineralization at Pilar Gold Mine – Life of Mine Extension Drilling to Follow

    13 Sep 2022

    “Jaguar Mining Inc. is pleased to announce results from recent in-mine diamond drilling and plans for deep drilling which will target additional Life of Mine Mineral Reserves and Mineral Resources at its Pilar Mine Complex, located in the Iron Quadrangle in the state of Minas Gerais, Brazil.”

    > Drilling Highlights include:

    – 104.72* g/t Au over an estimated true width of 2.8m
    – 15.77 g/t Au over an estimated true width of 3.2m
    – 9.53 g/t Au over an estimated true width of 7.5m

    https://ceo.ca/@accesswire/jaguar-mining-reports-confirmed-continuity-of-mineralization

    Reply
    BDC
    Sep 20, 2022 20:45 AM

    Michael Boutros on Gold (40:10)
    https://www.youtube.com/watch?v=z6MOI8wZvdw

    Reply
    Sep 20, 2022 20:02 AM

    More on global oil and gas supply issues and the poorly thought out energy transition… the truth hurts when it slams you upside the head. It wasn’t the Russian invasion.

    https://www.aramco.com/en/news-media/speeches/2022/remarks-by-amin-h-nasser-at-schlumberger-digital-forum

    Reply
      Sep 20, 2022 20:50 AM

      Boobus Americanus has had 48 years, since the Oil Embargo of 1974, to think about and prepare for this. Unfortunately too many, on this issue, have been living under a rock with their heads where the sun doesn’t shine.

      In the summer of 1978, when U.S. oil consumption was at a peak, I read an article in the local newspaper about how much this country was spending on imported oil. It was called the greatest transfer of wealth in the history of the world.

      Reply
        BDC
        Sep 20, 2022 20:55 AM

        Obviously Boobus Rufus did nothing either…lol.

        Reply
    Sep 20, 2022 20:28 AM

    Bob Hoye has some great insights on the world political and economic situation in the last half of this interview…

    https://www.howestreet.com/2022/09/some-looking-at-one-last-hurrah-before-stocks-plunge-bob-hoye/

    Reply
    Joe
    Sep 20, 2022 20:05 AM

    And down the drain they go, glugty glugty glug.
    It’s like a toilet that won’t stop flushing.
    LOL
    Just wait until the rate hike tomorrow.
    But why wait, you can still SELL NOW!!!!!
    CASH IS KING!
    IT IS YOUR LORD AND MASTER, WHY DO YOU FIGHT HIM?
    FIGHTING KING DOLLAR ONLY RESULTS IN PUNISHMENT!!
    STOP FIGHTING, SELL NOW!!!!!

    Reply
      Sep 20, 2022 20:54 AM

      Funny Joe, your king is still DOWN almost 30% versus gold since the middle of 2018.
      Don’t fight the fraudulent commie fiat dollar! 🤪

      Reply
      Sep 20, 2022 20:04 AM

      SILJ is still up 17% vs GDX since July but the implications of that are clearly meaningless to you and the herd at large.
      https://stockcharts.com/h-sc/ui?s=SILJ%3AGDX&p=D&yr=1&mn=3&dy=0&id=p68810175469

      Reply
      Sep 20, 2022 20:15 PM

      Is there a rate hike tomorrow? I hadn’t heard…

      Reply
        Sep 20, 2022 20:25 PM

        That made me chuckle Dan. Good one!

        Fed policy and inflation is all anyone wants to talk about these days, when we ask our generalists what will move the needle in the markets. At this point, a 75 basis point hike is already priced into all the markets, so if that is what occurs tomorrow, it may just be a nothing burger (barring some statement from Powell that gets parsed a million times and deemed extra hawkish or dovish).

        Joe has also started to be more funny lately, with his last few rants. The “glugty glugty glug” toilet sounds post above got more unhinged than normal by the end shouting in a megaphone in ALL CAPs for the last 3 lines. I gotta admit it made me crack a smile…

        Reply
    Sep 20, 2022 20:26 AM

    Quote from M.A… “…and governments cannot manage a bubble gum machine, let alone the livelihoods of the masses.” 😂

    https://www.howestreet.com/2022/09/canadas-private-sector-on-the-decline/

    Reply
    Sep 20, 2022 20:31 PM

    Ban Fed Meetings

    Reply

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