Bud Conrad - Why the Fed’s Taper Hasn’t Hurt the Stock Market… Yet

Conrad BudBud Conrad, Chief Economist for Casey Research writes in this must-read essay:   

Today (Wednesday, July 30) at 2 p.m. Eastern time, the Fed will issue a statement on monetary policy. I don’t expect it to contain any surprises. The Fed will continue to taper by reducing its quantitative easing (QE) purchases by another $10 billion/month, bringing total purchases to just $25 billion per month.

Further, I think the Fed will stick to its plan to end QE purchases altogether by October:

Please continue reading next page...

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Jim Grant - Fed Policy May Be Fueling a Credit Bubble

Whenever Jim Grant is talking we try to find the time to listen.  The Bloomberg set up for the brief video interview below reads:  James Grant, editor of Grant's Interest Rate Observer, talks about Federal Reserve policy and its potential impact on financial markets.     Grant, speaking with Tom Keene, Adam Johnson and Olivia Sterns on Bloomberg Television's "Surveillance," also discusses investing in Russia.  Video below, about 8 minutes. 

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Ron Paul - Stocks are in a Bubble and will Crash

Paul RonThe CNBC set up for the brief video below reads:  Ron Paul, the former U.S. representative from Texas and perhaps America's most popular libertarian voice, has long said that the nation's monetary and fiscal policies would result in massive inflation. According to the common measures of inflation, this has not yet occurred. But Paul maintains that the inflation he has warned of has indeed come to fruition in asset prices, and that once it unravels, a market crash will ensue.

"I think there's plenty of inflation, but my definition of inflation is a little different than the rest, because I think prices going up in the different areas is a consequence of inflation," Paul said on Tuesday's "Futures Now." "There's a lot of inflation in the stock market. I think there's a bubble there."

He says that what's occurring asset prices simply don't comport with what's happening in the economy.

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Precipitate Commences First-Phase Drill Program at the Ginger Ridge Zone in the Dominican Republic

Precipitate LogoVancouver, B.C. - July 28, 2014 - Precipitate Gold Corp. (the "Company" or "Precipitate") (TSXV: PRG) is pleased to announce the commencement of a first-phase drill program at the Ginger Ridge gold zone within the Company's 100% owned Juan de Herrera project in the Tireo Gold Camp in the Dominican Republic.

The drill and crews have been mobilized to site and the Company's maiden drill program at Ginger Ridge is now underway. The program will total approximately 1,200 metres ("m") of diamond drilling and consist of 6 to 8 holes aimed at testing priority near-surface target areas within the central core of the Ginger Ridge gold geochemical anomalies. Drilling will be carried out by Energold Drilling Corp., utilizing the same type of man-portable hydraulic drill rig that has been successfully utilized elsewhere in the region, with minimal environmental footprint.

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Get REAL: Silver

 

The set up for the video below reads:  Sponsored by Mining Maven at:  http://www.miningmaven.com/getreal  Jan Skoyles presents a Get REAL special on silver. She talks to Mark O'Byrne of Goldcore.com about how the industrial and precious metal will do.  Best viewed on Page 2. 

 
You can follow Jan on Twitter here: https://twitter.com/skoylesy
You can follow Mark O'Byrne here: https://twitter.com/marktobyrne

Source: YouTube

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COMEX Swap Dealers Hedging a Massive Long Play on Silver?

HOUSTON – We have just two stops to make on today’s rabbit trail, but both of them “count” and both are pretty dang important.  Today we will be looking at what some are calling a “too-high, too fast” net long position in silver by Managed Money traders and then we will cover an aspect of the huge, record high short position in silver futures held by the mercenary Swap Dealers, and it’s a “keeper.”   So, with no further preamble, let’s take the lesser of the two first and move on from there. 

CasablancaI am Shocked!  Shocked that Managed Money Traders are So Net Long! 

Have you noticed some of the analysis out there that says that Managed Money (MM) traders (large Specs, hedge funds, CTAs, CPOs, and other large traders who trade futures for clients, not for their own book), have a “too-high” net long position – that they have, according to those analysts,  “put on too many longs in too short a time” which, they say, usually “precedes a sharp drop in the price of silver?” 

Well, what that kind of thinking must stem from is a chart that looks like this when we look at the MM net long position as of July 25: 

Continue reading "COMEX Swap Dealers Hedging a Massive Long Play on Silver?" »

My thoughts On Pat Buchanan’s Brilliant And Incisive Take On Washington’s Ukrainian Fiasco

Stockman DavidDavid Stockman brings us Pat Buchanan with timely commentary on the Ukraine, Russia and the U.S.  Pat asks brilliantly, who is the real problem here?  

David begins:  In just 800 words Pat Buchanan exposes the sheer juvenile delinquency embodied in Washington’s current Ukrainian fiasco. He accomplishes this by reminding us of the sober restraint that governed the actions of American Presidents from FDR to Eisenhower, Reagan and Bush I with respect to Eastern Europe during far more perilous times.

In a word, as much as they abhorred the brutal Soviet repression of the Hungarian uprising in 1956, the Prague Spring in 1968 and the solidarity movement in Poland in the early 1980s, among many other such incidents, they did not threaten war for one simple reason: These unfortunate episodes did not further endanger America’s national security. Instead, in different ways each of these Presidents searched for avenues of engagement with the often disagreeable and belligerent leaders of the Soviet Empire because they “felt that America could not remain isolated from the rulers of the world’s largest nation”.

Accordingly, during the entire span from 1933, when FDR recognized the Soviet Union, until 1991, when it ended, the US never once claimed Ukraine’s independence was part of its foreign policy agenda or a vital national security interest. Why in the world, therefore, should we be meddling in the backyard of a far less threatening Russia today?

Continue reading "My thoughts On Pat Buchanan’s Brilliant And Incisive Take On Washington’s Ukrainian Fiasco " »

Goldman’s Bearish Gold Call Tired, COMEX Swap Dealers Squeeze-Vulnerable

HOUSTON – You know that bearish gold call  from Goldman Swaps Sachs on Thursday that helped push gold lower, albeit not really very much?  Let's look at the action in gold and silver in hourly terms with the COT cutoffs shown to refresh the memory.

20140725 Gold Hourly COT

20140725 Silver Hourly COT

Just so everyone knows we all  know the score, below is the near record high short positioning of the 18 traders who reported gold shorts and the 14 traders who reported silver shorts as Swap Dealers in the July 25 disaggregated commitments of traders report (DCOT) by the Commodity Futures Trading Commission (CFTC). 

Continue reading "Goldman’s Bearish Gold Call Tired, COMEX Swap Dealers Squeeze-Vulnerable " »

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Wednesday, July 30, 2014

Frank Holmes - Remarkable Value in the Miners

The Cambridge House set up for the brief video below reads: Frank Holmes, CEO Chief Investment Officer of US Global Investors, chats with Cambridge House Live anchor Vanessa Collette at the Sprott Natural Resources Symposium 2014 in Vancouver. They discuss a myriad of pertinent market events, including the remarkable value of junior miners oil stocks. Video below, about 9 minutes.

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How Argentina’s Default May Trigger $29 Billion in Claims

President Cristina Fernandez de Kirchner’s government says it needs to delay the ruling until January, after the expiration of a Rights Upon Future Offers clause that’s supposed to keep it from voluntarily giving better terms to the holdout creditors. By defaulting tomorrow,Argentinamay trigger bondholder claims of as much as $29 billion -- equal to all its foreign-currency reserves.

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JPMorgan Says Don’t Fight PBOC as Stimulus Lifts Stocks

Don’t fight the People’s Bank of China. That’s the advice to investors fromAdrian Mowat, the Hong Kong-based chief Asia and emerging-market strategist atJPMorgan Chase Co. (JPM)who raised his rating on Chinese stocks to neutral from underweight in a report dated yesterday. He said shares will rally through October after theHang Seng China Enterprises Index (HSCEI)entered abull marketon July 28.

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Tuesday, July 29, 2014

SRCs we are following and have accumulated

Small resource companies we have accumulated orare accumulating, as the case may be. Those who have beenfollowing Constantine will know they are in the middle of an important drill campaign at Palmer in Alaska. We understand that the company will host a site tour for a number of analysts and newsletter writers in about two weeks. There has been steady accumulation in anticipation of the high grade drill results, the first two holes of which were reported

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Bianco - Sanctions on Russia a 'Non Event'

The Bloomberg set up for the brief video interview below reads: July 30 (Bloomberg) –- Bianco Research President and Founder Jim Bianco discusses U.S. markets, how the Russia sanctions will impact the market and what he’s watching this week with Angie Lau on Bloomberg Television’s “First Up.” Video below, about 5 minutes. (Source: Bloomberg)

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SEMAFO: Initial Siou Infill Drilling Results In Line with Expectations Zone 9 Returns Values Up to 8.38 (10.49 uncut) g/t Au over 17.5 meters

Montreal, Quebec, July 29, 2014, 08:30 EDT – SEMAFO (TSX, OMX: SMF) today announced results from an initial Siou infill core drilling program between 180 and 225 meters vertical depth, which has the objective of replacing and increasing the reserves base at Siou by year-end. Initial results to date have yielded very strong results that confirm the continuity of the zone widths and grades. Some drill results exceeded our expectations such as hole WDC787 (8.38 g/t Au

Continue reading "SEMAFO: Initial Siou Infill Drilling Results In Line with Expectations Zone 9 Returns Values Up to 8.38 (10.49 uncut) g/t Au over 17.5 meters" »

Pretivm Closes US$60 Million Primary and Secondary Common Share Offering

VANCOUVER, BRITISH COLUMBIA--(Marketwired - July 29, 2014) - Pretium Resources Inc. (TSX:PVG)(NYSE:PVG) (Pretivm or the Company) is pleased to announce the closing of its previously announced marketed offering (the Offering) of 8,280,000 common shares at a price of US$7.25 per share (the Offering Price). Pursuant to the terms of the Offering, Pretivm received gross proceeds of US$49,524,750 for the sale of 6,831,000 common shares. The remaining 1,449,000 common shares were sold by Silver Standard Resources Inc. (Silver

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Ron Paul - Stocks are in a Bubble and will Crash

The CNBC set up for the brief video below reads: Ron Paul, the former U.S. representative from Texas and perhaps Americas most popular libertarian voice, has long said that the nations monetary and fiscal policies would result in massive inflation. According to the common measures of inflation, this has not yet occurred. But Paul maintains that the inflation he has warned of has indeed come to fruition in asset prices, and that once it unravels, a market

Continue reading "Ron Paul - Stocks are in a Bubble and will Crash " »

GoldCore - Russia Buys 18.6 Tonnes Of Gold In June - Currency Wars Intensify

Mark OByrne of GoldCore writes: Today’s AM fix was USD 1,307.50, EUR 972.84 and GBP 770.39 per ounce. Yesterday’s AM fix was USD 1,305.00, EUR 971.20 and GBP 768.55 per ounce. Gold climbed $2.30 or 0.18% yesterday to $1,305.10/oz and silver rose $0.12 or 0.58% to $20.62/oz.

Continue reading "GoldCore - Russia Buys 18.6 Tonnes Of Gold In June - Currency Wars Intensify" »

Monday, July 28, 2014

Japan’s Retail Sales Drop in Challenge to Abe Reflation: Economy

Japan’s retail sales fell more than forecast in June, capping a weak quarter that challenges Prime Minister Shinzo Abe’s bid to reflate the economy while heaping a heavier tax burden on consumers.

Continue reading "Japan’s Retail Sales Drop in Challenge to Abe Reflation: Economy" »

Precipitate Commences First-Phase Drill Program at the Ginger Ridge Zone in the Dominican Republic

Vancouver, B.C. - July 28, 2014 - Precipitate Gold Corp. (the Company or Precipitate) (TSXV: PRG) is pleased to announce the commencement of a first-phase drill program at the Ginger Ridge gold zone within the Companys 100% owned Juan de Herrera project in the Tireo Gold Camp in the Dominican Republic. The drill and crews have been mobilized to site and the Companys maiden drill program at Ginger Ridge is now underway. The program will total approximately

Continue reading "Precipitate Commences First-Phase Drill Program at the Ginger Ridge Zone in the Dominican Republic" »

Sunday, July 27, 2014

COMEX Swap Dealers Hedging a Massive Long Play on Silver?

HOUSTON – We have just two stops to make on today’s rabbit trail, but both of them “count” and both are pretty dang important. Today we will be looking at what some are calling a “too-high, too fast” net long position in silver by Managed Money traders and then we will cover an aspect of the huge, record high short position in silver futures held by the mercenary Swap Dealers, and it’s a “keeper.” So, with no

Continue reading "COMEX Swap Dealers Hedging a Massive Long Play on Silver?" »

My thoughts On Pat Buchanan’s Brilliant And Incisive Take On Washington’s Ukrainian Fiasco

David Stockman brings us Pat Buchanan with timely commentary on the Ukraine, Russia and the U.S. Pat asks brilliantly, who is the real problem here? David begins: In just 800 words Pat Buchanan exposesthe sheerjuvenile delinquency embodied in Washington’s currentUkrainian fiasco. He accomplishes this byreminding us of the sober restraint that governed the actions of American Presidents from FDRtoEisenhower, Reagan andBush I with respect to Eastern Europe duringfar more perilous times. In a word, as much as

Continue reading "My thoughts On Pat Buchanan’s Brilliant And Incisive Take On Washington’s Ukrainian Fiasco " »

Saturday, July 26, 2014

US evacuates embassy in Libya amid clashes

Matthew Lee reports for the AP. WASHINGTON (AP) — The United States shut down its embassy in Libya on Saturday and evacuated its diplomats to neighboring Tunisia under U.S. military escort amid a significant deterioration in security in Tripoli as fighting intensified between rival militias, the State Department said.

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Friday, July 25, 2014

C’mon Alan! Bubbles Are Caused By Central Bankers, Not “Human Nature”

David Stockman writes: Alan Greenspan just cannot give up the ghost. During his baleful 18-year reign, the Fed was turned into a serial bubble machine—and therebybecame aclear and present danger to honest free market capitalism and anenemy of the 99% who do not benefit from the Wall Street casino and thevast inflation of financial assets which it has enabled. His legacy is a toxically financialized economy that hasextracted huge windfallrents from main street, and left it burdened

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Greenspan says bubbles can’t be stopped without ‘crunch’

WASHINGTON (MarketWatch) — Former Federal Reserve Chairman Alan Greenspan has always been a student of the economy. Since the financial crisis, he’s become a student of human nature. Sitting in his office with a view of the Washington Monument in the distance, Greenspan is eager to share the insight distilled in his recent book, “The Map and the Territory,” due out in paperback this fall. ‘There is definite evidence the economy is picking up. The financial system

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Russia threatens to hit British companies in 'retaliation' for sanctions

Russia has issued a threat to seize the assets of British companies including BP and Shell as a retaliation against David Cameron’s demand for tough sanctions. In a mounting war of words, a senior diplomatic source claimed Moscow would “fight back” against any industry-wide EU sanctions by putting British companies working in Russian oil on the frontline. “We want friendly relations. We will go along as far as we can. Then we will retaliate,” the figure said.

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Gold Lockdown Until GoldCore - Options Expiry Monday - New Singapore Gold Contract Threatens Manipulation

Mark OByrne, GoldCore.com writes: Today’s AM fix was USD 1,292.50, EUR 961.18 and GBP 761.64 per ounce. Yesterday’s AM fix was USD 1,300.00, EUR 964.68 and GBP 763.76 per ounce.

Continue reading "Gold Lockdown Until GoldCore - Options Expiry Monday - New Singapore Gold Contract Threatens Manipulation" »

Thursday, July 24, 2014

Ukrainian PM, Cabinet Resign

DONETSK, Ukraine (CNN) -The United States said Thursday it has proof that Russia is firing into Ukraine. ... Also Thursday, Ukrainian Prime Minister Arseniy Yatsenyuk and his Cabinet announced their resignation in what Ukrainian political experts said was an expected development. Yatsenyuk and his Cabinet will remain in place as an acting government until elections in October.

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Ukraine’s prime minister resigns as coalition falls apart

Ukraine’s prime minister resigns as coalition falls apart... (Reuters and AP Confirm). Ukrainian Prime Minister Arseniy Yatsenyuk said Thursday that in light of recent turmoil in parliament, he is resigning his post. He scolded politicians for failing to increase army financing. (Reuters) More...

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Missing Air Algerie plane from Burkina Faso has crashed: Algerian official

(Reuters) - An Air Algerie flight crashed on Thursday en route from Ouagadougou in Burkina Faso to Algiers with 110 passengers on board, an Algerian aviation official said. There were few clear indications of what might of happened to the aircraft, or whether there were casualties, but Burkino Faso Transport Minister Jean Bertin Ouedrago said it asked to change route at 0138 GMT (9.38 p.m. EDT) because of a storm in the area. I can confirm that

Continue reading " Missing Air Algerie plane from Burkina Faso has crashed: Algerian official" »

Air Algerie 'loses contact with plane' flying from Burkina Faso

Air Algerie has lost contact with an aircraft travelling from Burkina Faso in west Africa with a total of 116 people on board. Aviation authorities said flight AH5017 vanished from radar about 50 minutes after take-off from Ouagadougou. Two French fighter jets based in Africa have now been deployed in an attempt to locate the missing plane, the French army spokesperson Gilles Jaron has confirmed. The last contact Algerian authorities had with the aircraft was at 01.55am

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Flight from Burkina Faso to Algeria disappears from radar

Air Algérie flight AH5017, thought to be carrying 110 passengers and six crew, disappears in early hours of Thursday morning

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Stalled recovery leaves Europe defenceless against economic shock from Russia

Stagnation is automatically causing debt ratios to spiral upwards yet again across a large part of the currency bloc Ambrose Evans-Pritchard, The Telegraph, writes: Europes economic recovery has stalled. The EMU policy elites took a fateful gamble that global growth alone would lift the eurozone off the reefs, without the need for serious monetary stimulus or a reflation package to ensure take-off velocity. Their strategy has failed. The Bundesbank says German growth may have slumped to zero

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ROMARCO ANNOUNCES FINAL EIS PUBLICATION

TORONTO, July 24, 2014 /CNW/ - ROMARCO MINERALS INC. (TSX: R) (the Company) is pleased to announce that the US Army Corps of Engineers (Corps) has informed the Company it will release its Final Environmental Impact Statement (the Final EIS) for the Haile Gold Mine project on its www.hailegoldmineeis.com website either today Thursday, July 24, 2014 or tomorrow Friday, July 25, 2014. The Final EIS is a major milestone in the Haile Gold Mine permitting process.

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Wednesday, July 23, 2014

Great Opportunities At These Gold Levels: iiTrader

Kitcosvivacious Daniela Cambone talks with technically minded trader Bill Baruch of iiTrader. The brief setup on the Kitco page reads: Kitco News speaks with iiTrader’s Bill Baruch following the release of Tuesday’s CPI numbers in the US. He says that although inflation data was somewhat less worrisome, it still offered a case for gold. “Now that inflation isn’t a worry, the Fed may not have its hand forced sooner than expected at raising rates,” he says. Baruch

Continue reading "Great Opportunities At These Gold Levels: iiTrader" »

Gold Seen Drifting Toward $1,300/Oz Ahead Of Approaching Options Expiration

Allen Sykora reports for Kitco News: Comex August gold futures may gravitate toward the $1,300-an-ounce level into an options expiration at the start of next week, assuming no major news events emerge to suddenly send prices sharply in either direction, traders and analysts said. Expiration of August options for gold and silver are scheduled for Monday. (Emphasis ours.) A call option gives the holder the right to call, or buy, a specific futures contract at an agreed-upon

Continue reading "Gold Seen Drifting Toward $1,300/Oz Ahead Of Approaching Options Expiration" »

IMF Says Fed May Have Scope for Zero Rate Past Mid-2015

IMF Says Fed May Have Scope for Zero Rate Past Mid-2015 Bloomberg http://www.bloomberg.com/news/2014-07-23/imf-says-fed-may-have-scope-to-keep-rates-low-past-mid-2015.html

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Escalating Ukraine crisis could blow gold sky high

Far from coming to an end the Ukraine crisis could be far from over and as the West and Russia are embroiled in accusation and counter-accusation over the downing of Malaysia Airlines Flight MH17, the potential for escalation is perhaps getting more serious by the day. It has brought a safe-haven focus back into the gold market which is probably likely to remain given Ukraine is not the only major flashpoint of worry with Syrian, Iraqi and

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METALS-London zinc hits 3-year high, aluminium a 16-month peak

LONDON, July 22 (Reuters) - Zinc hit a three-year high and aluminium touched a 16-month peak on Tuesday as investors sought more exposure to commodities with tightening supply-demand balances and were encouraged by falling inventories and firm equity markets. London Metal Exchange stocks of zinc fell by 400 tonnes to 656,275 tonnes, their lowest in 3-1/2 years, while aluminium stocks fell by 9,075 tonnes to 4.938 million tonnes, their lowest in nearly two years. MZN-STOCKS MAL-STOCKS

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The Original
Vulture Speculator

Trading gold, silver and mining shares since 1980 with a focus on taking advantage of volatility extremes, Gene Arensberg analyses the markets through a basket of technical and fundamental indicators and shares his findings from time to time here at Got Gold Report. Mr. Arensberg has been quoted in the Wall Street Journal, Dow Jones MarketWatch, USA Today and dozens of other news organizations.

"I've been a huge fan of Gene and his amazing work for years..."

Brien Lundin, CEO, Jefferson Financial, Host of the annual New Orleans Investment Conference and Publisher of Gold Newsletter


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