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Goldcorp Inc Warns Of Massive Writedown Of Up To US$2.7B On Argentina Mine

Posted by eeos @ 22:24 on January 12, 2015  

Goldcorp Inc. expects to record a massive writedown of up to US$2.7 billion on its new Cerro Negro mine in Argentina due to ongoing political and economic challenges in that country. 2014 will go down as the year when miners dumped their troubled assets for hardly anything in return. And don’t be surprised to see a few more dirt-cheap deals in the coming year

The Argentine government has made life extremely difficult on foreign mining companies by restricting the imports of goods and services and implementing exchange rate controls that limit companies’ ability to convert Argentine pesos into U.S. dollars. Inflation is also very high; Goldcorp previously said that every time it brings a dollar into Argentina at the official exchange rate, suppliers and contractors treat it at the “unofficial” rate, which is almost 70% higher. Read more

price action

Posted by treefrog @ 22:20 on January 12, 2015  

silver and gold prices lookin’ good on the night shift…

goldielocks @ 20:07

Posted by Mr.Copper @ 21:20 on January 12, 2015  

I’m in NY, Long Island, south shore. Its been pretty much the same here. Its an out migration state. Taxes too high. Most go south or west. Where do they get the money they need? Float bonds and taxes. We have the highest taxes and electric bills in the country.

I’m not positive for NY state. NYC might be the next Detroit in the future. And Detroit may have seen its worse days, and get better in the future. Wall Street and too much gov’t taxes, versus Detroit who’s smoke stack industries might be growing.

These days I’m positive on the USA as a whole. I think the country hit bottom in 2009. Back in the 1970s I was negative on the USA as a whole. I think the country as a whole was all peaked out by 1970. Everything went down hill after that.

The USA developed a lot of “body rot” since 1970 here and there like an old car. I think a restoration has started out of necessity. No more fake artificial boom ideas left available for the globalists to keep us artificially alive, on life support. More reality showing up.

What you described regarding the past, are some of the things they did to over ride the losses of importing more than we export. Even that Cholesterol story earlier is part of making us cannibal ourselves. Lower “normal” numbers to net more revenue.

Even the DWI numbers were lowered to .08 to net more jobs and revenue. And don’t get me started with the cars and the ‘check engine’ lite and all air pollution laws costing us money for nothing really needed. Same as welfare.

Mr Copper

Posted by goldielocks @ 20:07 on January 12, 2015  

What state are you from. Here in Calif they are driving business away and wages are stagnat while everything is going up. And thus they keep growing gov and who are they going to take it from, other needed social service programs. They give with one hand take with the other. They can’t even afford to pay the people they have now and look at social security, something people paid into.

Heres something that seems only to benefit parents with kids which is good if they can invest wisely if they can for child care credit where individuals as well may get a 1000 dollar tax credit, oh goodie. Who are they going to take it from, Wall Street and charges on stock trades. Since their supposed to be targeting high frequency traders hope they have dollar amount or if they get around that frequency amount.

http://www.foxnews.com/politics/2015/01/12/dems-pitch-controversial-plan-to-tax-wall-street-to-pay-for-new-middle-class/

 

 

Here we go Again!

Posted by Auandag @ 20:03 on January 12, 2015  

not too bad folks…..hope its got legs…..seems so!

Posted by WANKA @ 18:41 on January 12, 2015  

01wj

eeos – All the World’s a stage.

Posted by commish @ 18:33 on January 12, 2015  

8f0d7d16

Gold and silver still looking good here

Posted by silverboom @ 18:32 on January 12, 2015  

Yes, they are.

Hilarious Commish

Posted by eeos @ 17:58 on January 12, 2015  

image is everything, what a bunch of dirtbags. They were like, “Hey serfs are too dangerous to march with, let’s just make it look like we’re marching for the common person.”

We’re being fooled again.

Posted by commish @ 17:56 on January 12, 2015  

B7GnzaFIcAAh9ca

Yamana Gold to raise nearly C$300 million to cut debt

Posted by ipso facto @ 17:46 on January 12, 2015  

http://finance.yahoo.com/news/yamana-gold-raise-nearly-c-223546084.html

Maybe a smidgeon of justice

Posted by ipso facto @ 17:16 on January 12, 2015  

Albuquerque Cops Who Gunned Down Homeless Camper Face Murder Charges

http://www.infowars.com/albuquerque-cops-who-gunned-down-homeless-camper-face-murder-charges/

French President: “The Illuminati Are Behind The Paris Attacks”

Posted by ipso facto @ 16:59 on January 12, 2015  

http://yournewswire.com/french-president-the-illuminati-are-behind-the-paris-attacks/

I sure as hell hope that nothing serious happens on Super Bowl Sunday!

Posted by Scruffy @ 16:50 on January 12, 2015  

By Douglas E. Schoen

Published January 12, 2015

Sunday, President Obama morally abdicated his place as the leader of the free world.

His decision to stay home instead of standing side by side with French President Hollande as millions marched in Paris in solidarity with the slain journalists of Charlie Hebdo in opposition to radical Islam – an enemy fiercer than we have seen in decades – sent a clear message to the world: Obama just doesn’t care.

His words about the horrendous terrorist attack this week were not enough. They came off as inauthentic at best and offensive at worst.

To speak about the most serious terrorist attack on Western soil since 9/11 in between speeches about his free community college plan demonstrates a fundamental lack of understanding for the gravity of the situation in Paris and, indeed, the world.

To this end, it is not surprising that President Obama is the only Western leader who has refused to call this attack Islamic terrorism, even though President Hollande has declared that France is it at war with radical Islam. And to not even send Vice President Joe Biden or Secretary of State John Kerry in his place shows a level of disrespect that makes me ashamed of our nation.

We are at war with radical Islam. And President Obama needs to say it.

Many have tried to understand why President Obama made this choice. It’s certainly not possible that Obama has different intelligence than the French. Or that he and his advisers can’t see what the rest of the world has seen and come out against – the radicalization of Islam, the greatest threat of our time.

 

but…. but…. but….  NFL playoff games were on TV!

Take a look at the front page of Fox News to see the reaction from numerous touts:   http://nation.foxnews.com/

macroman3 @ 15:03

Posted by ipso facto @ 16:35 on January 12, 2015  

I think our market’s starting to heat up! 🙂

First Majestic’s day a good start.

But WAIT, there’s more!

Posted by Scruffy @ 16:31 on January 12, 2015  

UPDATE: The CENTCOM YouTube page was also hacked and filled with ISIS propaganda videos.

President Obama was giving a speech about cyber security when the breach happened.   (Bwah ha ha ha)

Over the weekend, hacking group Anonymous officially declared it will engage ISIS and radical Islam through cyber warfare in response to the Islamic terror attack on Charlie Hebdo last week.

Developing…

Well I’ll be……..

Posted by Scruffy @ 16:29 on January 12, 2015  

In the past hour the Twitter account belonging to U.S. Central Command was hacked by someone or a group of individuals claiming to be from ISIS.

A series of tweets were sent out with sensitive information about U.S. military strategy toward North Korea and China. The tweets also threatened military personnel and their families. UPDATE: The information that was posted on the account has been verified by intelligence sources as real information hacked directly from CENTCOMM, meaning this wasn’t simply a hack of a Twitter account, but against CENTCOMM itself. It is unclear whether CENTCOMM itself was hacked or if the hack was limited to a hack on Twitter. Since the breach, Twitter has suspended the CENTCOMM account.

Watch the latest video at video.foxnews.com

Gresham’s law

Posted by Mr.Copper @ 16:26 on January 12, 2015  

re part:
Gresham’s law is an economic principle that states: “When a government overvalues one type of money and undervalues another, the undervalued money will leave the country or disappear from circulation into hoards, while the overvalued money will flood into circulation.”[1] It is commonly stated as: “Bad money drives out good”.

Comment:
Those were the good ole days when the whole world used AU and AG as money. I wonder what was the difference between under and over valued money? Purity of the metals?

Anyway in todays situation, with stocks bonds and real estate and even oil futures commodities used as money, how does this “modern money” fit in to Gresham’s Law? Which is over or under valued “money” today?? The Bonds? General Stocks? Oil?

Oil neeeds to talk to us and Gata

Posted by Maddog @ 16:06 on January 12, 2015  

Stupid selling in GDX on close and Oil not even allowed any kind of daytrader short covering bounce.

That said not a great day for the Scum, the Coke hangover was probably epic, so watch out tommorow folks.

Greshams Law

Posted by Richard640 @ 16:05 on January 12, 2015  

Subject: natural law is immutable. entropy is justice. gecko was wrong: greed is not good.never mistake brains for a bull market.

the rubber truncheon will do its’justice

 

Gresham’s law is an economic principle that states: “When a government overvalues one type of money and undervalues another, the undervalued money will leave the country or disappear from circulation into hoards, while the overvalued money will flood into circulation.”[1] It is commonly stated as: “Bad money drives out good”.

This law applies specifically when there are two forms of commodity money in circulation which are required by legal-tender laws to be accepted as having similar face values for economic transactions. The artificially overvalued money tends to drive an artificially undervalued money out of circulation[2] and is a consequence of price control.

The law was named in 1858 by Henry Dunning Macleod, after Sir Thomas Gresham (1519–1579), who was an English financier during the Tudor dynasty. However, there are numerous predecessors. The law had been stated earlier by Nicolaus Copernicus; for this reason, it is occasionally known as the Copernicus Law.[3][4] It was also stated in the 14th century, by Nicole Oresme,[5] and by jurist and historian Al-Maqrizi (1364–1442) in the Mamluk Empire;[6] and noted by Aristophanes in his play The Frogs, which dates from around the end of the 5th century BC.

goldielocks @ 15:20

Posted by Mr.Copper @ 15:32 on January 12, 2015  

re your: “If they did they’d stop trying to tax and drive out businesses and make incentives to get them back then hire citizens. Their expanding gov making new laws then hiring thousands to regulate them at tax payers expense ”

Comment:
That’s the old news. The terminator gov’t is in a trying to survive mode these days. They finally realized they can’t get blood from a stone. You have to look like for “deer signs” to see the new up and coming news.

For example. Layoffs in the environment protection sector. Property tax caps here at 2%. Tax breaks here to open manufacturing businesses. Many other “different direction” deer signs I see out there. You can’t see them unless you look for them.

Minnesota?? May not be true. If real it will probably get rescinded, If real its just a speck of dust in one spot.

So the CBs that HATE gold are doing what?

Posted by Scruffy @ 15:25 on January 12, 2015  

Global central-bank gold buying outpaced selling elevenfold. Most of the latter was done by cash-strapped Ukraine, which went on a gold selling spree in an attempt to deal with its financial problems. Meanwhile, most other countries were backing up the truck to take advantage of lower prices.

  • Russia was shopping in earnest last year, getting its hands on a whopping 55 tonnes in the third quarter alone. With last year’s total addition in excess of 150 tonnes (4.7 million ounces), Russia’s gold reserves now amount to a reported 1,188 tonnes (38.2 million ounces), representing an impressive increase of 14.7% from a year ago. Russia has the fifth-largest holding by a central bank the world.

    Iraq bought 36 tonnes of gold in March alone for a total of close to 48 tonnes (1.5 million ounces) for the year. It’s interesting to note that right before Russians went into full buying mode, the March 2014 purchase by the Central Bank of Iraq was the biggest addition since Mexico bought 78.5 tonnes in March 2011. The reason for buying so much gold? The central bank issued a statement saying it acquired the metal to help stabilize the Iraqi dinar against foreign currencies. Makes sense to us.

  • Kazakhstan was buying gold every month through November, with 24.7 tonnes added to its balance sheet in August alone. As a result, the country’s reserves have seen a 30.1% increase to 188 tonnes (6 million ounces) over the last year.
  • Mongolia kept silent for the best part of the year but now seems to have upped its gold reserves significantly to 28.8 tonnes (927,000 ounces) as recently as in November. This represents a massive over sixfold increase from 3.9 tonnes (126,000 ounces) from a year ago.
  • Turkey’s gold reserves have expanded by 13.2 tonnes (425,000 ounces), partly as a consequence of a policy accepting gold in its reserve requirements from commercial banks. Its gold holdings currently stand at about 533 tonnes (17.1 million ounces).
  • Azerbaijan has been taking advantage of a slump in prices in the second half of the year, snapping up roughly 10 tonnes (326,000 ounces) of gold for its vaults. The country’s reserves have grown by 50.6% to 30.2 tonnes from 20 tonnes a year ago. Just two years ago, the country had virtually no gold. Its leaders definitely get it.
  • Tajikistan added 4.4 tonnes (142,000 ounces) last year, and at 9.6 tonnes (309,000 ounces) in gold holdings is now carrying 85% more gold on its balance sheet than at the end of 2013.
  • Mauritius, a surprising contender in the race to load up on more gold, added 4 tonnes (129,000 ounces) in 2014. As a result, the country’s reserves have seen a 100% increase to 7.9 tonnes (254,000 ounces) from a year ago.

In sum, central banks remained firmly on the buying end in 2014 as far as gold is concerned. Now, all this growth is significant in and of itself, but we’re likely to see it balloon even more once the data for November are released. Add to this the insatiable appetite for gold from India (which incidentally is back to being world’s top gold consumer and now says it’s not planning further curbs on gold imports) and China, and you’ll see why we’re upbeat about future demand.

Mr Copper

Posted by goldielocks @ 15:20 on January 12, 2015  

I don’t think the Gov are trying to restore the middle class. If they did they’d stop trying to tax and drive out businesses and make incentives to get them back then hire citizens. Their expanding gov making new laws then hiring thousands to regulate them at tax payers expense as well as hunt money everywhere to foreign businesses which drives down liquidy. Look at Minnesota and bullion sales their costing jobs while probably hiring tax dependent people to monitor it like they did or with other things.

TidBits – David Schectman

Posted by Scruffy @ 15:07 on January 12, 2015  

Shadowstats.com   calculates Key Statistics the way they were calculated in the 1980s and 1990s before Official Data Manipulation began in earnest. Consider Bogus Official Numbers vs. Real Numbers.

Annual U.S. Consumer Price Inflation reported December 17, 2014,       1.32% / 9.02%

U.S. Unemployment reported January 9, 2015,            5.56%  / 23.0%

U.S. GDP Annual Growth/Decline reported December 23, 2014,             2.70%  / -1.73%

U.S. M3 reported December 15, 2014 (Month of November, Y.O.Y.)   No Official Report    / 4.81%       (i.e., total M3 Now at $16.217 Trillion!) Shadowstats   

>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

The bull market we’re in now (which is in sort of a hiatus) began around 2001. It has had a few corrections, one certainly being the Global Financial Crisis in 2008. We’ve been through a tough period, but basically it moved from the high $200s – to over $1900 in a ten-year period.

At that point, over three years ago, I believe there was a concerted effort to knock gold back down (which I think has been the central banks in particular) and discourage people from holding it. It has worked. We’ve gone through another horrible correction that has lasted over three years now, seeing the price fall from $1900 to under $1150 at one point.

The sentiment here is kind of like it was at the ’76 bottom and in 2000-2001. Just those two periods were precursors to huge moves in gold and I think this one is the precursor to the biggest move of all, so I would encourage people to hang in there. John Embry

>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

The U.S. Added 252,000 Jobs in December; Unemployment Fell to 5.6%… The good news was tempered by the fact that not only did wages fall 0.2% last month, but the wage gain of 0.4% in November was revised down to 0.2%.

 

What it means – The Employment Situation report for December nicely illustrates what we have been highlighting in the Dent Research Employment Index over the last year – yes, there are more jobs, but the quality of those jobs as measured by income is poor. We are not generating middle-income employment at a pace that will grow the economy.

 

With the full year of employment on the books, we can discuss our old friend, the birth/death adjustment, which the Bureau of Labor Statistics (BLS) uses to guess at how many new jobs were created at small businesses.

 

After removing all seasonal adjustments, the BLS reported 2,987,000 new jobs in the economy last year, which works out to 249,000 per month. That’s not bad. But the BLS also reported 1,040,000 new jobs through their mystical birth/death adjustment. If the guessed-at jobs are taken out, then the economy created 1,947,000 jobs last year, or just 162,000 per month. Harry Dent

ipso 13:29, we’re on the same wavelength, in fact was gunna drop you a line about FR

Posted by macroman3 @ 15:03 on January 12, 2015  

Sucker is gunna be a triple in a month from the blowout low of $3.81 Canuckbuck

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Post by the Golden Rule. Oasis not responsible for content/accuracy of posts. DYODD.