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Latest Rob Kirby at his Finest

Posted by Auandag @ 22:21 on September 22, 2015  

Starts around the 32min mark

Newmont’s Indonesian copper export permit will not be renewed – govt officials

Posted by ipso facto @ 19:43 on September 22, 2015  

JAKARTA, Sept 22 (Reuters) – Newmont Mining Corp’s Indonesian copper export permit, which expired on Tuesday, will not be renewed as the U.S. miner has failed to meet government stipulations for developing a domestic smelter, government officials said.

Newmont, Indonesia’s second-largest copper miner, has to renew the permit every six months following an agreement with the government a year ago to develop local mineral processing facilities.

“Newmont proposed an export permit extension and we evaluated it,” said a senior mines ministry official, who did not want to be identified because he is not authorised to speak to the media. “Newmont has not fulfilled requirements.”

Newmont is in talks with the Indonesian government and has filed an application with the additional information officials wanted on how the miner plans to support the country’s investment in smelter development, Newmont Chief Executive Gary Goldberg said on Tuesday.

He said he expected it would take “a couple of weeks” to sort out.

more http://finance.yahoo.com/news/newmonts-indonesian-copper-export-permit-195650644.html

I wonder if those two little devils

Posted by eeos @ 19:20 on September 22, 2015  

will light up the white house in red?  or will they allow satan a ride up on the white house elevator from inner hell? are these guys reptilians?

and now for something a little more serious….the US Mint is still chucking the Silver Eagle out. Could be a record year again.

Silver Mint sales 9 22

Two Devils Converging On September 23rd—What They Discuss Will Have Serious Implications…

Posted by silverngold @ 18:47 on September 22, 2015  

This young lady has her head on straight. Worth watching IMO!!

1 more Ag missive.. Tonight’s le Met

Posted by Scruffy @ 18:42 on September 22, 2015  

The PM price managers are now in a really awkward pickle regarding silver. When faced with allowing the price of silver to rise, they’re damned if they do and damned if they don’t. Here’s why…

We already know that silver shortages are developing around the globe. THEY know this too, of course. If they allow the price to rise in any significant way, they know they’ll simply add to an already intense silver buying frenzy, thus exacerbating the very shortage they have themselves created. Any real excitement in silver has got to be immediately squashed. Hence today’s smackdown as silver was nearing its next major resistance point of about $15.50. I felt almost certain this would happen today and sure enough it did. One problem they face, among others, is that millions of PM investors around the world have learned how to play the game. That is, instead of running for cover and fearing the all-powerful OZ, folks have simply learned to buy with both hands when these regular price whackings occur. They’ve figured out that the cabal is merely offering them the gift of a lifetime by creating these absurdly low silver prices, prices that, in most cases, are well below the few primary silver producers’ cost of production.

Retail buyers now know this charade well, and every time these price smashings take place, retail buyers step up and load the truck. This, of course, makes the shortages even worse. On the other hand, if the criminals allow the price of silver to RISE to any meaningful extent, ironically the same phenomenon takes place (more intense buying) but now has the doubly damaging result (in the view of the cabal) of drawing exponentially more silver buyers into the market—the criminals’ worst nightmare. As I said, they’re damned if they do and damned if they don’t.

But the crooks’ predicament is even worse than this. As we’re ALREADY SEEING, if they smash the silver price any further, silver dealers simply raise the premiums to offset their quite fixed cost of replacement. As mentioned the other day, APMEX, for example, is now charging a whopping $5+ premium on Silver Eagles, the number one go-to silver investment for many stackers. But even the premiums on bullion coins are rising. As dealers and primary producers alike have already told us, there is barely any investment silver available even at the $15 per ounce level. So it’s a no-brainer that there won’t be nearly a sufficient supply at prices BELOW $15. Silver investors are now in the process of learning that the “price” of silver quoted on sites like Kitco is really just a bogus posting. Why? Because there’s not a single ounce of investment grade silver available for anywhere near these artificial prices. You could say that silver premiums are now offsetting criminal price suppression.

Thus, the psychopaths have boxed themselves in. For if they try to smash the silver price down further, they gain no additional benefit while proving to the world that the so-called COMEX silver price is meaningless and that silver cannot sell indefinitely at (or, in many cases, even below) its cost of production. Therefore, any lowering of the silver price is completely wasted effort, except to further fleece the idiots who were dumb enough to play the highly rigged casino by going long over at the CRIMEX.

In short, buyers of physical silver at current price levels have NOTHING LEFT TO FEAR from lower COMEX prices. They know for sure now that dealers aren’t going to sell their silver at a loss and so they can know with absolute certainty that prices at silver dealers will not be dropping significantly from today’s levels. In a way, the criminals who control the silver market have painted themselves into a corner, and now millions of silver buyers around the planet can buy with certainty, knowing that any price declines will be quite temporary and in fact meaningless at the dealer level.

In other words, silver buyers know that they’re buying at the bottom. And even if there are a couple of dollars to the downside, there remain perhaps hundreds of dollars to the upside (in a true hyperinflation the upside would be essentially unlimited). Where else on earth does one find this kind of spectacular risk/reward ratio!? This is a situation that comes around only rarely in the commodity markets. And even if the rumors about JP Morgan Chase buying several hundred million ounces of silver are true, it won’t do them much good when the day comes that they’re asked (ordered?) to sell some of their hoard into the marketplace to quell a buying frenzy. Even if they have, say, 350 million ounces, that’s about ONE lousy ounce for every man, woman, and child in the U.S.! And of course that completely ignores the rest of the earth’s investing population, at least several hundred million of whom will ABSOLUTELY become interested at some point soon in protecting their wealth from the fiat currency race to the bottom by purchasing hard assets, the most desired of which are gold and silver.

I’ve said many times that silver, not gold, is really the Achilles heel of the PM cabal. And the end game is nearing, I think. They cannot hold back the tide forever. Something must give. I doubt it will be the resolve of silver investors, who have already endured investment hell over the past four years and have become, no doubt, the strongest hands in the silver market. Whether it be a few weeks or a few months, the silver cabal’s Waterloo fast approaches, and I predict that when the worldwide silverfest begins, almost all forms of physical silver will disappear from dealers’ shelves in a matter of hours—and it may be several years before the market reaches anything near equilibrium again.

Finally, I predicted in “Midas” many years ago that the day will come when a silver contract won’t be worth anything near 5,000 ounces. I believe the facts above will guarantee that this change comes about, since the eventual price of silver will likely be many, many multiples of its present levels. I suppose time will tell…

Anyhow, that’s my story and—for today, at least—I’m stickin’ to it. 🙂

Kind regards as always.
Derek

 

rah, rah, rah We need more up movement in Ag, not more words that predict iy.

Posted by Scruffy @ 18:27 on September 22, 2015  

It’s no secret silver prices are down and out. But play close attention to the basic fundamentals of supply and demand, and you’ll discover the gray metal could be setting up investors for massive rewards.

India Increases Silver Imports 48% Year-Over-Year

As it stands, we are seeing a new major buyer emerge in the silver market. India, the country with an appetite for gold, is buying a significant amount of the “other” precious metal.

In August, $363.41 million worth of silver was imported into India. Last August, only $245.16 million worth of silver was imported into India. (Source: Indian Ministry of Commerce & Industry, last accessed September 16, 2015.) This represents a year-over-year increase of 48%!

Demand for silver elsewhere in the global economy is solid, too.

So far this year, the U.S. Mint has already sold more than 34.3 million ounces of silver in American Eagle coins. (Source: U.S. Mint, last accessed September 16, 2015.) In the first nine months of 2014, the U.S. Mint sold 32.33 million ounces of silver in American Eagle coins. So, demand at the Mint is running roughly six percent higher this year than last year. But what is important to note here: back in July, the Mint halted its silver coin sales because it was sold out. Hence, this year’s sales numbers are distorted.

Silver Supply Side Getting Crushed

When looking at the supply side, production is slumping.

Take Canada, one of the world’s major silver producers, for example. Year-to-date, silver mine production in Canada has declined by 20%. In the first seven months of 2014, silver production in Canada amounted to 287,857 kilograms. In the same period of 2015, this figure was 227,860 kilograms. (Source: Natural Resources Canada, last accessed September 16, 2015.)

As silver prices started to fall from their peak in 2011, major silver producers started cutting back on their exploration and development budgets. I predicted this would happen simply because, as silver prices fell, mines that produced silver at over US$15.00 an ounce would need to be closed so they were not operating at a loss. Thus, a lot of production was taken off the table.

Where Are Silver Prices Headed Next?

In respect to silver prices, don’t be too concerned about what happens on a daily basis. Pay attention to the fundamentals and have a long-term perspective.

Personally, I expect silver prices to outperform many asset classes in the years ahead—including gold. I say this because of the math. If silver moves 100% higher from current price levels, it only goes to $30.00 an ounce—and silver has traded at that price many times before. For gold to go up 100%, it has to move to $2,400 an ounce—a price it has never seen before.

The chart below plots an exchange-traded fund (ETF) that tracks silver miners. At the bottom of the chart, you will see silver prices plotted.

Companies that mine silver have seen their stock prices fall in price at twice the rate silver prices have fallen. From their highs in early 2015, silver miners are down about 40%, while the price of silver is down only 20%.

I see tremendous opportunity in the depressed prices of quality silver mining companies.

 

From Sprott

Posted by Scruffy @ 18:20 on September 22, 2015  
By Nathan McDonald                Yesterday 

“The world has come to a paradoxical situation in which the creditor countries are more concerned with the fate of the dollar than U.S. authorities themselves.

Thus, the evolution of the U.S. dollar’s reserve role in recent years has given ground to some quite pessimistic forecasts, based on rational economic theory. It’s no wonder that the number of people who have held assets in dollars and now wish to diversify them partly into gold — the traditional shelter from inflation and political adversity — is steadily growing.”

No, the quote above was not made by a “crazy” gold bug, it was not made by a doom and gloom forecaster that feeds off the fears of his readers. This comment was made by none other than a Central banker.

Before you jump up and down and get too excited, take a breath and realize who made this comment. The above statement was just a snippet from a long presentation given by Oleg V. Mozhaiskov, Deputy Chairman of the Bank of Russia.

In this presentation, Mr. Mozhaiskov goes on to explain in great detail how he sees the current state of the gold markets and the role it plays in our “modern” financial system.

Mozhaiskov states to his audience that the gold market has been and is manipulated by the elite powers-that-be. He states how the current reserve currency of the World is fatally flawed and that gold will and must play a role in our system.

These statements don’t come as a surprise to me, given the fact that Russia is one of the most active participants in the real physical gold market, a fact that he points out and makes no qualms about the matter, despite the smear campaign that the West and their puppets in the mainstream media has engaged against the reputation of gold.

Russia knows that a major change is coming down the road, they know that by making presentations such as this, and for their active participation in the gold market, that they have become a real threat to the current power structure of the world.

For this, they have suffered sanction after sanction and essentially been shunned by most of their trading partners in the Western world. Despite this, they have endured and continue to accumulate gold en masse.

They, along with countries such as India, China and others in the East, know that an end game is coming, and a global shift in power is on the way. The system as we know it, will look drastically different in 10-20 years.

The long-term planning of these countries has to be applauded, especially if coming from a Western country, such as myself, whose vision only extends quarter to quarter and has no long term plan for itself, its finances, or its people.

Still, they are not completely innocent, the writing may be on the wall, and they may see what is ultimately coming for the West, but they are not simply sitting around waiting for this day to come.

No, the East is actively engaged in trade deals “behind closed doors” amongst each other and are actively attempting to displace the US dollar from the throne it currently sits upon.

The ultimate question that everyone would like to know is “when will this change happen?” The answer to this is unknown, but that doesn’t change the fact that a path has been set and plans are in motion for it to occur. The West has driven over the cliff and just like the iconic character Wile E. Coyote, all that needs to occur now is that we look down at the rubble at the bottom of the canyon.

Maddog

Posted by ipso facto @ 16:39 on September 22, 2015  

I think DB BK would be a big enough Black Swan …

D’oh! Got rice?

Ororeef

Posted by puptent @ 16:36 on September 22, 2015  

it is ok..no one reads my post.

cheers

puptent

Ipso if Deutsche goes, then so do we all, as Germany will be flat broke 75 times over !!!!!!!

Posted by Maddog @ 16:30 on September 22, 2015  

Maddog

Posted by ipso facto @ 16:24 on September 22, 2015  

‘I reckon every car maker is at it that runs small high mileage diesels, as all their figs are @ the same”

Could very well be true. You’ve gotta figure they just couldn’t get their cars to run properly as long as they were tuned to meet the emission specs. Other carmakers probably couldn’t do it either.

I hear Germany is going to be investigating as to whether VW ran the same scam in Europe as well.

Today was ugly. I’ve got cosh bumps on me head.

Ipso-facto

Posted by Maddog @ 16:05 on September 22, 2015  

I reckon every car maker is at it that runs small high mileage diesels, as all their figs are @ the same. If not VW was either lazy or too stupid to compete, neither of which is true..they built the Bugatti Veyron, the most high tech car ever made so far.

Scum have been super busy…I see S&P futures well bid straight after the close and the PM’s were under the cosh all day.

Posted by Auandag @ 16:03 on September 22, 2015  

The World Is In Trouble – Are You Prepped For The Road?

It appears we are moving from controlled chaos to uncontrolled chaos. Anybody think Putin will say or do nothing now that we placed nukes in Germany? This can really escalate quickly.   – quote from a friend and professional colleague

In a conversation with Dr. Paul Craig Roberts today, he suggested that unless Russia submits to the United State’s vassalage, the countries are headed for a nuclear war.  Ironically, after our discussion, two ominous news reports surfaced, via Zerohedge:

Pentagon Warns Of Russia-Iran “Nexus” In Syria: “We Assume Russia Is Coordinating With The Iranians” – LINK

Whether or not there’s any truth to the allegation, there can be no mistake that the U.S. Government is provoking Russia with a heavy dose of propaganda…and worse:

U.S. Will Station New Nuclear Weapons in Germany Against Russia – LINK

In defiance of the Treaty on Non-Proliferation of Nuclear Weapons, the U.S. moving twenty new nuclear bombs into Germany, each one four times more powerful than the bomb used in Hiroshima…If the shoe fits:

THEROADIt doesn’t take a genius to see what is developing.  There’s something bigger going on beneath the surface of the ensuing economic and financial collapse and the political chaos connected to the Presidential campaigns of both Parties.   I believe it is possible that both situations are mere “distractions” to deflect any attention away from the fact that U.S. and Russia appear to be headed for a serious military conflict.
I can’t speak to the mental condition of the Russians, but the people running the U.S. Government, especially the Dept of Defense, are insane.

puptent @ 10:51

Posted by Ororeef @ 16:03 on September 22, 2015  

sorry for the duplication

Funny, there is a big outroar about VX

Posted by Auandag @ 15:59 on September 22, 2015  

But the banker fraud is a hundred time worse and nary a peep from the MSM.

ipso facto @ 13:45

Posted by Ororeef @ 15:40 on September 22, 2015  

Exactly !

Portugeezer @ 5:25

Posted by Ororeef @ 15:34 on September 22, 2015  

Yeah ,but We got our Guns !…..With Obama as Pres….why do you think GUN sales are breaking records.Obama is the SUPER GUN SALSMAN of the last 6 years…

Is it because God ,GOLD ,Guns dont mean anything ?   Au Contraire !

If Cubans ,Muslims,Venezuelains ,Syrians had guns NONE of this would happen !

Those Muslim invaders of Europe will soon be turned out of Germany as its Economy falters….Give each of then a AK 47 and a free ride back to SYRIA  and tell them to fix their own problem.

Yoy watch for Angela to do an about FACE and deport these invaders as Political forces take hold and UN- employment rises  ..Germany will get rid of its  Guilt complex and get tough on the JOB stealers.

 

Bank Failure ?

Posted by Ororeef @ 15:10 on September 22, 2015  

Who backing Volks,who holding their DEBT ?

The Dollar  SOARS and the Stupid Americans pay the Price …no exports !

Stupid Americans celebrate a Communist POPE coming here looking to make a DEAl with OBAMA to TAX the US ….

This  POPE CONSULTS with CASTRO  FIRST … WHAT DOES THAT TELL YOU ..?

How to hold onto Power for 50 Years while the People beg for bread….(food Stamps)

What can Castro Teach this POPE ?  thats going to HELP AMERICA.

WHO’s looking out for America ? Thats YOU ! Who’s looking out for YOU ?

This POPE is a WOLF in Shephards Clotheing.

This is NOT Ron Reagans POPE that the Communists imprisoned for 25years in Poland ?  That was a real Pope ….Thats how Reagan ,Thatcher & THAT Pope destroyed Russia Communists and Brought THAT WALL DOWN…He was not a Communist.!

 

arm’s

Posted by puptent @ 14:13 on September 22, 2015  

http://www.zerohedge.com/news/2015-09-22/dow-futures-dump-320-points-all-major-indices-now-underwater-2015

Some of the big boys are stumbling

Posted by ipso facto @ 13:59 on September 22, 2015  

Glencore drops to lowest ever on China-triggered mining stocks massacre

http://www.mining.com/glencore-drops-to-lowest-ever-on-china-triggered-mining-stock-massacre/

Ororeef … and coincidentally I just ran across this article … though I guess they’re probably talking about some bank … I think. No doubt some big banks will be impacted by the VW fraud.

Posted by ipso facto @ 13:49 on September 22, 2015  

There Are Indications That A Major Financial Event In Germany Could Be Imminent

http://sgtreport.com/2015/09/there-are-indications-that-a-major-financial-event-in-germany-could-be-imminent/

Kunstler

Posted by ipso facto @ 13:45 on September 22, 2015  

snip

Last week was the watershed for central banking and for the illusion that the current disposition of things has a future. The Federal Reserve blinked on its long-touted Fed funds interest rate hike and chairperson Janet Yellen was left standing naked in the hot glare of her own carbonizing credibility, a pitiful larval creature, still maundering about “the data,” and “the median growth projection,” and other previously-owned figments spun out of the great PhD wonk machine in the Eccles Building.

The Federal Reserve itself is the victim du jour of its own grandiose fatuous fecklessness, in particular the idea that it could play a national economy like a three-button flugelhorn. What seemed like a good idea at the time when Alan Greenspan and then Ben Bernanke stepped into the pilot house now just looks like the fraud of frauds: enabling corporations to borrow ever more money from the future to pretend that their balance sheets are sound. That scam has nowhere left to go, except into the black hole that has been waiting for it. All the Fed really has left is to destroy the value of the dollar (to save it! Just like Vietnam!).

This ought to be an interesting week in the financial markets as the players have had a long, anxious weekend to absorb the death of Fed cred. And October, too. Expect dramatic re-pricing. Sometime a few months down the line, financial markets will present a “relief rally.” Don’t get suckered on that one.

Meanwhile, what remains on the other head of this two-headed economy besides driving to-and-from the Walmart? Pornography? The tattoo industry? Meth and narcotics? Prostitution? Professional sports on the flat screen? Kim and Kanye? Grand theft auto? Do you really think Donald Trump can fix this?

more http://kunstler.com/clusterfuck-nation/fed-cred-dead/#more-5866′

Volks … Who insures their DEBT

Posted by Ororeef @ 13:17 on September 22, 2015  

Who insures Volks credit default swaps ?    Its deja  vu all over again ..as YOGI would say !   Goodby Volks cost probably 20 Billion plus Lawsuits from Volks owners whose resale value is kaput !    As Volks goes ,so goes Germany and the EURO   ..Just as the Dollar was starting to go down on its arraigned  cycle with the Europeans ..now it skyrockets and drives US EXPORTS into the Dumpster   …

Competing Devaluations here we come ..its a race to the bottom ..Why should the US suffer because of Germany ?   We need to DEVALUE NOW ahead of them….!    as a preventive meaasure….

Its going to be a Financial crisis  Germany has now become GREECE     without sympathy …  from the Greeks I would add….

So much for German Engineering……Financial Engineering ……Maybe the Greeks will make them a Loan !

Maddog

Posted by ipso facto @ 11:52 on September 22, 2015  

It’s a crazy story … and likely to be very expensive for VW.

I wonder what will happen to the people who made the decision to use software to defeat the emissions requirements?

Ipso

Posted by Maddog @ 11:42 on September 22, 2015  

re VW here’s how it was found.

https://www.petri.com/volkswagen-used-software-to-cheat-on-emissions

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