Loading ...alerted me to First Majestic. I have simply held on because it seemed to be amongst the silver producers that should survive. Nothing sophisticated or technical about that gut feeling; my confidence has simply been bolstered by occasionally seeing silver bars bearing the First Majestic imprint; our physical holdings include a couple of First Majestic bars. Wishing you a pleasant 2015 in the silver market. Equiz
Equis re: First Majestic
One of my long-timers as well. One of the very few that are positive in my decimated portfolio.
Hilarious – and gold is down on this drivel but SM futures are screaming higher
Fed’s Evans “Catastrophe” Comment Sparks US, Japan Stock Surge; China Purge
Submitted by Tyler Durden on 01/07/2015 21:50 -050
Chicago Fed’s Charlie Evans appears to have decided to flex his voting member status, Bullard-ness this evening. Speaking during a forum in Chicago, after The FOMC Minutes showed data-dependence was the thing… Evans exclaimed “raising rates would be a catastrophe,” and that “housing hasn’t shown the strength he’d like to see,” prompting S&P futures – with the help of USDJPY – to suddenly surge 16 points (and drag WTI Crude futures above $49.50 for fun). Nikkei futures enjoyed the ride ramping 200 points as USDJPY hit 119.70. But, much to the chagrin of the millions of freshly minted retail investors there, Chinese stocks plunged 2.2%… “we love the smell of stability in the Asian morning”
Evans explains…
- *FED’S EVANS SAYS RAISING RATES WOULD BE A CATASTROPHE
- *EVANS SAYS OIL IMPACT ON INFLATION TO REQUIRE CLOSE MONITORING
- *EVANS SAYS WAGE GROWTH CONSISTENT WITH GOAL WOULD BE 3.5%-4%
- *EVANS: DROP IN LONG-TERM INTEREST RATES `EXTRAORDINARY’ PAST YR
- *EVANS SAYS HOUSING HASN’T SHOWN STRENGTH HE’D LIKE TO SEE
And thus the fun-durr-mentals kick in…
Mr Copper
How about just giving tax breaks to American companies if for anything creating jobs and not temporary. Also keeping unions out of it while setting a decent minimum wage and some sort of interest earning retirement plan that is not only temporary and where some Polititian cant change it when he needs money. Also a pretax stock market with baskets of stocks including PMs they can manage themselves on line rerirement fund. Something like that instead of having to run to another country or changing the currency rates all the time. If each country could sit down including the Mid East and can figure out who makes what instead of one country China dominating the industries perhaps people wouldn’t need to move around in the first place esp if their currency and pay was fair. I remember a lot of WW11 vets talking about Japan and prices after the war. Mostly Navy. Might be what I ” perceived ” lol but seems like navy guys were more into dressing up or looking cool lol Even today you could here about their navy outfits looking good, what I heard was you could go there some lady seamstress would measure you here there everywhere and you’d come back the next day and you’d have a new suit that would of cost a lot of money here but could afford it on their meager military salary there.
@Goldilocks
Re all the masses of illegal immigrants. That’s all the MORE reasons to manufacture everything here. We need all those menial labor intensive jobs that are in China India Vietnam Hong Kong Taiwan etc etc.
Strong dollar bad. If $1 buys 10 Pesos, (strong) immigrants can’t resist coming here. $10/hr gleans them 100 Pesos/hr. A FORTUNE in Mexico. That’s why they send money home. To Mexico. $1 goes very far in a lot of places.
If it was reversed, and $10 US bought only ONE Peso? Mexicans and some Americans might migrate to Mexico, work for 5 pesos/hr and turn it into $50/hr to send back home to the US.
Note, if a Japanese car quality is twice as good as an American made car, it should cost twice as much. But strong dollar exchange rates make them too cheap.
Note. Before WW II $1 (1 loaf of bread) was equal 1 Yen (1 loaf of bread). After the war, TPTB made $1 Dollar (1 loaf of bread) equal 360 Yen (360 loafs of bread) to rebuild the Japanese Economy with US consumer dollars.
drb2
Of course the Fed will NEVER be audited. They own the sleaze bag politicians and would never allow them to audit the criminals.
I love reading Bill Holter. I love reading Jim Willie.
If only they could be right about something once in awhile, their reading would be so much more enjoyable.
Not a horrible day today, OTOH, not really indicative that a major rally is coming in the metals either. Everything seems well under control by the manipulators. $1220 was easily defended. HUI 182 was easily defeated as the hope trade was clearly dispatched. The metals better go up tomorrow or $1200 is done and HUI 182 will be a distant memory.
If something has changed, someone please let me know, I don’t see it.
Germany threatens Greece over Euro
Maybe their better off if Greece leaves the Euro. Looks like their using it as a power play however since when does Greece obey anyrhing.anyine who has to pay high taxes should take notes from them.
http://rt.com/op-edge/219795-germany-manipulation-greece-eurozone/
Mr copper
The public sometimes doesn’t listen until it’s mainstream or too late. For instance Armstrong warned how the Euro would fall and while over a year ago. He also warned gold would fall. Also what people believe as far as stock managers. They like the hogs will be first to act and their level one trading platforms will let them. It’s how you can read into things ” perceive things” that matters. Also as far as bottoms go he says is its the price that matters its timing, that’s true too. People wait for lower lows or higher highs and lose.
Mr Copper 15:55
Before that happened the current business cucles would have closed their doors from restaurants to banks to car sales. I’ve seen what happened to industry manufacturing in Calif it was a gate way to illegal immigration and now to late because of the kids they had plus would be a gateway again. Many were working those jobs if you saw one American it would be rare esp white AAmerican. It would happen again.
ps also many of these illegals wives were getting welfare while the men worked and they didn’t claim it esp in construction and other places they got cash. There will be no hyperinflation as long as we’re the reserve currency and places like China can manipulate their currency to match others.
Richard640 @ 11:07
Re part:
“The ONLY thing that matters is what does the majority BELIEVE.”
Comment:
By the time the public believes something, its often later. I have a friend that keeps telling me I was right about this or that, but way too early. One thing I told him was after the 2008 meltdown, that China economy had to go down because Americans will be spending less. Lately he heard that info about China.
Lets say you shot a deer with an arrow at 5AM, but it ran away wounded, and you tracked it down and found it at 5PM. 12 hours later. I say it died at 5AM, 12 hours ago, when it got shot, where as the public might know it was dead at 5PM.
Regarding the dollar going straight up in late June? I read today the manufacturing sector in the US is slowing, oil rigs energy are in decline now etc. My view is the US economy (and energy) went into decline starting in late June on the Dollar lows, but nobody saw it that way until now.
Here we are 6-7 moths later, and the public is finding out. SOON, we might hear positive news for Europe because THEIR stimulation started in late June with the high topping Euro, that was lowered to stimulate them, but not yet visible.
Scum update
SM well bid….Dow 200 plus
Dollar…..well bid…..the King Kong of ALL currencies….don’t even think about it !!!!
Rates flat to nowhere
Oil…allowed a truly pathetic bounce
Pm;s knocked off their Hi’s and looking like their going nowhere…ie: Job Done.
Now where is my dealer…need to get supplies in for the weekend…..we’ll do more powder than Aspen has !!!!!!
goldielocks @ 11:31
Goldilocks, you need to put more thought into arbitrary manipulative exchange rates…
A $50 imported screw driver, $50 coffee mug, $50 can opener, a $10,000 TV set, and a $90,000 Toyota, would force people, the unwashed many to stop buying imports because it can be made far cheaper in the USA.
Anybody local could open up a screwdriver factory, make them for $5, instead of $50 imported from China et al, and hire people. Many manufacturing businesses would open up all over the USA.
As Euro falls
Looks like a spinning top candle forming. Uncertainty going forward, or not.
Silverngold
I remember reading about some kid who was abducted at about 11 a boy who came back home as a young adult to tell his mom he was alive but abusucted into child sex slavery and had to go back or would be killed. He was brainwashed. He said its big meaning there would be no where to go. Guessing that means it’s in our legal and political system making him feel like there was no where to turn. PS if it wasn’t a set up, there’s a lot of that going around.
Silverngold
Yep and worldwide it doesn’t need to be backed by any promises to pay like fiat, it is a payment. Would be nice if all states and countries would exchanges it for goods like they do bit coin. As now it will only be exchanged for fluctuating fiat or barters to those who know golds potential not just current prices.
Former HHS cyber chief gets 25-year sentence in child porn case
http://rt.com/usa/220327-defoggi-sentenced-child-exploitation/
The former acting director of cyber security for the United States Department of Health and Human Services has been sentenced to 25 years in prison after a jury convicted him five months earlier on child pornography charges.
Timothy DeFoggi, 56, formerly of Germantown, Maryland, will now spend upwards of a quarter-century behind bars for engaging in a child exploitation enterprise and related charges brought in US District Court for the District of Nebraska in 2013 after prosecutors tied the former HHS cyber chief to a secret online website where sexually explicit images of children were shared among members.
After investigators compromised the website, PedoBook, in late 2012, they began collecting information about visitors who had navigated to the site over the Tor anonymity network. Prosecutors told the court that investigators then identified members who traded illegal content and engaged in elicit conversations with one another about exploiting and even killing children.
More: http://rt.com/usa/220327-defoggi-sentenced-child-exploitation/
drb2@14:21
I would have thought his last statement would have earned a red color too.
“gold is money, everything else is credit”! Silverngold
from Miles Franklin site – Why there will be NO Fed Audit
re: why no Fed Audit? here is Bill Holter’s opinion
I agree with at least part of it (red text)
DERIVATIVES HAVE ALREADY BLOWN UP
“Audit the Fed!”, there is now another movement within Congress to do this. Will it ever happen? Maybe, but not unless the Chinese (and rest of the world) demand it in my opinion. Let me explain this but please remember what came to light the last time back in 2010, when we found out the Fed had lent over $16 trillion (yes, with a capital “T”) during the 2008 financial crisis. Some of this $16 trillion went to U.S. banks, brokers, insurance companies and mortgage institutions …but, the majority went to FOREIGN institutions!
A full and true audit in my opinion would only do one thing, totally crash confidence in the dollar and put a permanent end to the charade we call “reserve currency status”. I do not believe Congress will ever call for a full audit for this very reason, it is known (by Congress and anyone in associated finance) just how dirty the books really are. Can you imagine the reaction when 1,000′s of S+P contracts, 1,000′s of Treasury bond contracts along with short oil and gold turn up on (“off”) their books? Can you imagine how many more “back door loans” have been made since 2008? Talk about the crazy aunt in the basement, an audit of the Fed would put an overflowing insane asylum of crazy aunts in full view! In my opinion, the only way this movement goes forward is if it is demanded by foreigners under threat of dollar boycott.
A connected topic to the audit is the recent strength in the dollar. Why has the dollar been so strong and what does it mean? First, as I mentioned yesterday, the dollar carry trade is unwinding and dollar shorts are being squeezed. The ramifications are plentiful. Foreigners are experiencing local inflation as their currencies drop versus dollar based food commodities etc.. This will not put the U.S. in any favorable light as foreigners now lose more control over internal pricing of external products. The strong dollar, and moving as rapidly as it has is also creating margin calls within the global financial system. We have not gotten news from any individual banks yet but rest assured, some have already been rendered bankrupt by being short dollars, long oil or some combination. I believe the derivatives market is no longer in danger of blowing up, I believe it already has!
This situation has not been lost on Mr. Putin as Russia suggested directly to Europe they change allegiance when it comes to trade. He has invited Europe to trade “more naturally” with their own neighbors in the new Eurasian Union. This makes perfect sense and should be viewed by Europe as an “olive branch” rather than “the hammer” of lost energy supply.
Even the timing of this proposal is prescient. Greece will vote for a new government at the end of this month. All polls suggest the party in favor of an exit from the EU is in the lead. Maybe the election will “turn” or be stolen and this is a false alarm but a Greek exit from the EU means the end to Western finance as we know it.
How could tiny Greece destroy Western finance you ask? Please follow this through as it is not complicated but is a fairly long and far reaching chain. First, a Greek exit means the $ billions of loans recently extended by the EU to keep them afloat will not be paid back. It also means default and non payment on $100′s of billion more loans extended prior to the last couple of years. Greek banks will go down and the French banks who are the most heavily exposed lenders to Greece will also be impaired. This will result in a “contagion” across Europe as others may exit, or an alternative scenario is the “core four” Germany, Netherlands, Belgium and Austria (who are by the way repatriating gold) will form a “Northern Euro” and break away.
Mr. Putin sees all of this. He knows it is cold outside and Europe is trapped by energy supply from Russia to keep warm and to keep industry running. He is offering a peaceful way out …at the expense of the U.S.. He also knows what we know, the skyrocketing dollar is pressuring everyone from the common man to financial institutions to the central banks themselves. And thus his “timing” of this offering.
Let me tie these thoughts together because it looks like something will come to a head very quickly. In my opinion, in spite of all the recent “tightening” speculation, I believe we will see by necessity a “QE 4″ shortly. The dollar cannot continue on its recent path, and in fact must reverse or a financial implosion will be exposed. Asset prices, FOREX and oil in particular have swung wildly. This has created massive margin calls whether we see them or not. An announcement of QE 4 would pressure the dollar downward and support oil prices. I personally do not believe it will be done “in time” as the internal collateral damage has already been done. I also don’t believe it will change the outcome of a monetary crisis where the last currency standing will be gold …valued at multiples of current levels in ALL paper currencies.
The point is this, dropping oil prices (which was Mr. Obama’s idea and doing according to him) are impairing all sorts of debt and institutions. Oil cannot trade sub $70 for any great length of time without folding the tent because of the leverage involved in the industry. Unless the Fed wants to preside over an all out financial deflation, they must and will be forced to “QE” with something far larger in scope than any of the previous monetizations. This is exactly how all Ponzi schemes come down. They require “new money” in larger and larger quantities in order not to be exposed. If the Fed does not want to be exposed …they must supply the money!
Going full circle and back to the top of my article, the Fed cannot afford an audit of any sort. Were this to even start, rats would be jumping ship before the auditors even set foot in the Mariner Eccles building. There would be so much front running toward the exits, the fear of looking beneath the covers alone would create a panic. Just watch, if the markets do not turn around sharply and quickly, the Fed will very soon announce a new QE “elixir”. I personally believe the new elixir is already necessary, far too late, and useless anyway because of the collateral carnage already done versus razor thin margins.
As I have mentioned for the last month, I believe the drop in oil prices was in fact originally “our plan”. Lower prices have now gotten so out of hand that “THE plan” is now in view. Current low oil prices have broken the derivative daisy chain, this is something I believe China and Russia already knew but sat back and let us create our own demise. Just as fast as the dollar has risen and the shorts were forced to cover, watch as the dollar burns out like a rocket spent of fuel (confidence) and crash back down. There is no telling “where” this level will occur but mark my words, the casinos will figure out the end game where deflation in the financial system means death to the “chips” themselves.
Please remember this, as very soon it will be understood by the masses, “gold is money, everything else is credit”!
Regards, Bill Holter
there’s 16.60 silver…
…in the rear-view mirror 🙂
Auandag
They hit the Russian mkts ystdy as well….it was the Russian Christmas Day !!!!!!!
Richard 11:07
That is so true and well known with professional traders. It’s a self fulfilling prophecy. It will affect stocks in any sector no matter how profitable because of it. It doesn’t matter a persons personal opinion if it’s wrong or right rich or poor good or bad it’s what the majority of traders perceive it to be. This is the same thing that drives manipulation as in window dressings before earnings or panic selling when no fund manager wants to be the last man holding. Standing on principles or marrying stocks you will only lose your money and ability to make more.
The stakes here could not be more important. It is utterly imperative to the Rest of the World that Russia not be economically destroyed (and thus bludgeoned into submission) by these financial psychopaths. Conversely, it is of equal importance to the One Bank that its efforts to destroy Russia’s economy be successful.
http://www.zerohedge.com/news/2015-01-07/economic-terrorism-against-russia-intensifies