This is a multi-year chart of TIC data. This shows the demand for US assets, offset by

US demand for foreign assets. I cannot understand the lack of panic globally.

The US has to fund its deficit and relies on Foreign flows. They aren’t there

and they have not been there for over a year with a month or two being the

exception.

Start at 18:30. Again, this is a very big problem or at least it used to be!

Shares in gold miner Centamin (LON:CEY) (TSX:CEE) closed down over 6% in London Thursday as the company said its long-dragged dispute with Egyptian authorities over its flagship Sukari gold mine might drag into 2015.

Delivering its second quarter results, the Alexandria-based company — Egypt’s largest bullion producer— also logged lower production and higher costs during the first half of the year. It, however, kept its annual forecasts unchanged, suggesting it would deliver more output at better grades over the rest of the year.

Centamin problems in Egypt go back to 2012, when a court cancelled its mining license for Sukari, the firm’s only producing mine, and the country’s first large-scale modern gold operation.

Last year, a 400 kg gold shipment from Sukari was prevented from leaving Egypt as authorities claimed Centamin needed a permit from the national petroleum ministry to do so.

cont. http://www.mining.com/no-end-in-sight-for-centamin-legal-fight-over-gold-mine-in-egypt-56904/

The latest quarterly filings by major hedge fund managers raise some interesting facts regarding interest by some of the biggest names in the sector – notably George Soros and John Paulson – and their attitudes towards gold and gold stocks.

George Soros’ Soros Fund Management, according to a Reuters report, nearly doubled its stake in the Market Vectors Gold Miners ETF to 2.05 million shares valued at $54 million at the end of the second quarter, compared with 1.16 million shares in the first quarter. The Soros Fund also initiated new gold investments including 1.33 million shares in call options of the Gold Miners ETF valued at $35 million, and 1 million equity shares in Allied Nevada Gold Corp., but notably cut back its stake in Barrick Gold sharply by more than 90% which suggests that the Fund sees better value in more volatile gold stocks than in the perhaps likely more pedestrian progress of a gold major should gold prices continue to rise.

Perhaps less surprisingly, John Paulson, who has remained committed to gold as a long term investment for his fund through thick and thin retained his 10.2 million shares in the GLD ETF, which was worth some $1.31 billion alone and is the largest single position in the world’s biggest gold ETF. Paulson is a known long term gold bull and his gold oriented fund suffered through the downturn, but will have gained some $45 million during the past quarter.

Although gold and gold stocks have received a lot of talking down by the media and the banks this year, they have provided some of the best market growth so far, in part due to geopolitical issues which have supported the gold price despite the seeming plethora of adverse market commentaries. There has been an element of riding the Dow, the S&P, FTSE, Dax etc, which have all been performing well, but so have the gold stock indices as investors have returned. Gold itself is up around 8% since the beginning of the year compared with say the S&P 500 which is only up just under 7% – fact which seems to be overlooked by many market commentators.

http://www.mineweb.com/mineweb/content/en/mineweb-gold-news?oid=250346&sn=Detail

No doubt, the paper kings own everything and it’s hard to see that changing anytime soon. Seems we get one of these smashes out of the blue for no reason about once a month now.

Maddog has a theory that the paper kings are hitting oil to hurt Russia. I think he’s spot on.

Whatever the end result of where the world is headed, I agree with you it won’t be pretty good buddy. So we wait with our phyzz in hand and hope we’ve done the right thing.

Good Morning !

Say, with all those ‘Broomstick Miles’ aint you ready to take a vacation ?  Give a frog a break?  I figured the reason you were late getting your pledge in yesterday, other than the fact of being a woman (which I have never known to be on time ) was that you were at some Voo Doo Convention or something. Well….better late than never.

Listen, I have been thinking. Since we have this New Oasis and all, maybe I should turn a new leaf of sorts. You know, cut you some slack. Be a little nicer to you. But then I came to my senses and thought, Oh heck no !  Now that don’t mean I cant try to help you out more. I am not sure about those cats have more lives. I think frogs live longer on the magical pond so it all seems kind of offsetting to me. But just to show you my heart is in the right place, I hope you will accept my gift this morning. Besides you are gonna need the extra energy to keep up with me. (grin)

Best from Da Frog

Sure hope your chart plays out! If I had a baby they’d need new shoes.

Tell ya, if I ever had any doubts to the power of the Paper Lords, that idea has pretty much been put to rest recently. With all the crappola going on in the world today TPTB are still in charge of the markets.  I have sat and observed the past several weeks with great astonishment. (The oil slap down yesterday of oil for two bucks just one example)

With the all financial turmoil rolling from one shore to the next, rumors of another large bank failure, and anemic economy even if you believe half the gubberment figures ( and I don’t ), and the number and extent of the conflicts, and potential ‘wars’….I am amazed how well they can prop up this, slash this one over here , and continue the spin that keeps it all running. Simply, incredibly amazing.

It is a good thing I can occupy some of my day with chores. Do a little canning. And hold on to an ounce or two. And just try to survive whatever is to befall us next. It’s a tough game out there brother. And whatever ‘The End’ game is gonna look like, it aint gonna be a pretty one by my book.

Onward Pilgrams as the good Doc says. Marching into lands unknown.  And trying to stay sane, while trying to make sense of the insanity of a world turned upside down. 🙂

Look at the open interest in tonnage for silver the past several years prior to this.

the silver OI complex rests  at 161,928 contracts.

Each contract is 5000oz. You can do the math.

We have never seen OI like this at anything other than

major tops. Yet, the miners look like they are at a bottom.

Otherwise, today doesn’t matter.

Thanks Wanka & Crew ! The new pond looking good, and now that we got the ‘business’ side of things taken care of we can all look forward to another year of gatherings. Job Well Done !!

Thanks for the coffee Floridagold.  Coffee is not an option at the Oasis, it is a necessity. Besides, its good for ya ! I’m thinking we should take that generous contribution, late as it may be, of AuGal and apply it to the coffee funds. (grin)

LBMA Silver Price Launches New Era in Pricing Precious Metals

LONDON, Aug. 15, 2014 /PRNewswire/ — CME Group, the world’s leading and most diverse derivatives marketplace, and Thomson Reuters, the world’s leading source of intelligent information for businesses and professionals, have launched the new LBMA Silver Price mechanism in partnership with the London Bullion Market Association (LBMA). CME Group, Thomson Reuters and LBMA have joined forces to provide the over-the-counter spot silver market with a new transaction-based price-setting mechanism for the LBMA Silver Price that is IOSCO-compliant and fully electronic. CME Group will provide the electronic auction platform on which the price will be calculated, Thomson Reuters will be responsible for administration and governance and the LBMA will accredit price participants. The new LBMA Silver Price benchmark will be published and distributed by Thomson Reuters and will be available on the LBMA’s website.

http://finance.yahoo.com/news/lbma-silver-price-launches-era-110500520.html

MAG Silver Reports Second Quarter Financial Results

http://finance.yahoo.com/news/mag-silver-reports-second-quarter-190931385.html

Avino Silver & Gold Mines Ltd.: Second Quarter Financial Results to be Released on August 20, 2014

http://finance.yahoo.com/news/avino-silver-gold-mines-ltd-202100399.html

New Gold Announces Closing of $300 Million Revolving Credit Facility

http://finance.yahoo.com/news/gold-announces-closing-300-million-205100179.html

Silvercorp Reports Financial and Operating Results for the First Quarter of Fiscal Year 2015

http://finance.yahoo.com/news/silvercorp-reports-financial-operating-results-210500051.html

Canadian Zinc Reports Financial Results for Second Quarter 2014

http://finance.yahoo.com/news/canadian-zinc-reports-financial-results-100000730.html

The Gold & Silver Morning Smackdown Is Back

Submitted by Tyler Durden on 08/15/2014 08:24 -0400

Despite NATO’s warnings of Russian escalation in Ukraine, 8amET was a far bigger catalyst for precious metals this morning as the once ubiquitous morning meltdown is back. With gold relatively flat and Treasury yields down 10bps after a 60 point S&P surge, maybe this is catch-down but the heavy-volume plunge in Gold and Silver is notable in that USDJPY appeared to jerk higher at the same time.

 

 

 

roll over and die.

This is sickening. Get ready to buy more “car parts” folks. The queen still owns us. I’d be happy to see her whole empire in flames

From Jesses’s Crossroads=

“The big show is in September with the Alibaba IPO. Road show starts 3 September and the IPO date is tentatively 16 September. Biggest IPO ever. Maybe a bell ringer