The Hormuz Letter
@HormuzLetter
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3h
BREAKING: Iran has just struck an oil tanker with 3 anti-ship cruise missiles in the US-backed southern Omani corridor while completing an outbound transit in the Strait of Hormuz under US escort, per UKMTO.
The vessel is the Saudi VLCC oil tanker “SIDR.”
The Deal
The Kobeissi Letter
@KobeissiLetter
BREAKING: The White House publishes the details of the US-Venezuela oil deal and announces that Venezuela has granted North American Blue Energy Partners 100-year concessions for 17 oil fields.
Details include:
1. The 17 fields contain ~65 billion barrels of proven oil reserves
2. The US government receives a 35% equity stake in NABEP’s parent company at “zero cost to taxpayers”
3. The US receives the right to purchase 20% of all current and future production at production cost
4. The US also receives the right of first refusal to purchase the remaining 80% of production
5. The US government receives veto power over board appointments, while a majority of NABEP’s board must be US citizens
6. NABEP plans to invest up to $100 billion into Venezuelan oil infrastructure to rapidly increase production
7. Venezuela is expected to receive ~$200 billion in royalty and tax payments over the first 25 years
The White House is calling this the “biggest oil deal in world history.”
Kind of what I was hoping to see today
Metals stabilized, shares firmed up toward the end. ETF’s held their 20’s.
Hopefully we get back on the horse.
Maddog 10:07
How far can they push us, how far can war push oil prices or even expectations that will, affect miner production costs take us along with the Fed coming along with a dagger. As far as the Fed they’re going to lose either way. You can’t kick the can down the road forever. They raise interest rates the only real thing that bring things back down and eliminate debt??? would crash the economy and they know it.
Mruk
Yeah apparently that was him. Easier to find him because not that many falsettos in rock music. I saw him recently but couldn’t remember the name. Part of surviving luckily being a nurse already a hospitals students without supervision in labor away from my doctor or hospital they promised after anyways they would was some memory loss I didn’t realize yet was remembering names less I hear it a lot. I could remember everything else even word by word just not the name. The right is brothers tried to get me on stage one time because they could hear me singing along with them. I was just singing softly but didn’t know there was a microphone around me they could hear. I decided long ago not to do anything that would make you famous but the snitches around me pointed me out to them. I didn’t want to mess up their concert by refusing. Anyways I found his name. He is probably a Brit like you said, it said he was Scottish. Now with all those Islamist invading I can see why he quiet now but may have been by now anyways. I had a long range even to high pitched but coming from a male never heard anything like that before and doing it so naturally. Yes definitely dance music. I was looking for sleep music, getting less that 2 hrs a day I was getting spacy. Even thinking about taking what ever pain pills the doctors offered me or assisted suicide. They don’t have PT out of hospital. Out of hospital migrants are forming false PT that’s only exercises not real physical therapy. These people are small and can’t lift nor want to. Not qualified for the jobs. They are part of the reason of my injuries in hospitals these same kind of people as a wound nurse would run and hide if they saw anyone that would need their assistance in anything physical. That includes codes. The blacks on the other hand were always ready and wouldn’t even let me do something’s alone even if I told them I could. So just a warning don’t wake any medical covered time on them for that.
Poking the Bear
EU Commandos Board 6th Russian ‘Shadow Fleet’ Tanker After Putin Threatened Reverse Action
In my youth Sng did lots of this in CA on tributaries of the American River. Great hobby. Lots of good tips in this video!
I don’t know why he didn’t mention the most common form of gold found, along with black sand, in the bottom of the gold pan…called Flour Gold; the fine stuff like flour you have to separate from the black sand, and that flour gold almost always paid for our gas to get into those creeks and streams. But life itself is the real silver and gold. Don’t waste it sitting in the Casino! Sng
While you’re waiting and watching, better watch this: IT’s NOT OVER! Here’s the proof!
Same thing applies in the USA and elsewhere, so if you have loved ones or friends in any of these locations, send them this video. Sng
Copper
Mark
@Mark_IKN
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2h
To be clear about my position re. copper, I’d be the happiest of all the happy little bunnies if Cu remained in its current trading range forever, it’s an amazing price, producers are minting. But I’ve seen this movie before & the trade is now crowded. So be careful, that’s all.
Buygold
The wave count looks pretty clear, we need a correction short term,…so it all fits and now we have a classic bear raid, set up with GS etc pushing the long side, in front of the raid ….
How far they can push us will tell a lot….I doubt much more, before we get a B wave rally.
Greg Reese: Balance & Power with Pranayama
Definitely worth a PM investor’s time to watch this 5 minute presentation so you learn how to keep your system balanced, or just get Phyz and relax. Sng
Dollar not helping us today
Can’t see what the 10 year is doing at the moment, but it is the last day of the month, so can’t expect much good to happen from our little sector.
10 yr. yield
The Working Group on Financial markets are out there buying as many of the 10 year bonds that need to be bought, to keep the yield from breaking through the highs from Jan. 2025 (4.776%).
As they do that, the full court propaganda will be pressed by the financial media ( once again), that rates will HAVE to go up ( when IMHO, that’s a death wish for the markets and the $40 trillion of outstanding debt).
What a racket!
maddog
GLD is sitting on its 20 ema, SLV and GDX are just above. I was hoping against hope that we might stop here and start moving higher, but you seem to imply there’s more downside.
The metals are going to have to start moving up before too long, because you can bet that diesel prices will hurt the miner’s profit margins.
Yep
Wall Street Mav
@WallStreetMav
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2h
“If you have a country like Germany, where you another a few million immigrants come in from countries that are totally culturally incompatible with Germany”
“then it doesn’t matter what I think about Europe, Germany will have kiIIed itself.”
– JD Vance
Morning deer79
Yes. I guess I got a little too hopeful. It appears market commentary has changed back to the norm.
Bear raid coincides with a 5 wave move up in AU
o now we do an A-B-C down ??? for a 2nd down…so we are down 38.2 % down…time says we did 29 days up and only 5 down….therefore we need maybe another week or more, to do B up and C down…
Buygold
I believe it was Bill Murphy (@ the year 2000, during one of his GATA rants), who came up with the phrase “price action makes market commentary.”
Any move in the markets ( and especially ALL of the counterintuitive moves in Gold and Silver), are quickly rationalized by the mindless financial media minions!
I guess it’s all part of the long term manipulation to once again, keep this charade going for as long as possible….
War was bad for pm’s just a month ago, has the market had a change of heart?
Oil Tops $91, US Diesel Crack Near $100 As US-Iran Strikes Resume, Tehran Claims Supertanker Mined In Hormuz
“Overall, the desk sees a cautious, risk-off start to the session. Geopolitical developments…”
goldielocks @ 18:17
I am pretty sure the Band was called Bronski Beat. Jimmy Somerville did the vocals, Steve Bronski was on keyboards and percussion. My favorite of their songs is “Tell me Why ” it will absolutely get you moving to the music!
Oh, and yes they were from England
Nice turnaround in silver tonight
Gold still dragging its feet a bit. Looks like the dollar is headed south a little after the big move up on Friday. Rates down 1 bip. SM flat. Oil jumping $1.35, just below $85.
Plat and pall giving back around 1% each, with silver up 1% and gold down $12.
It’s all about the dollar at the moment.