OASIS FORUM Post by the Golden Rule. GoldTent Oasis is not responsible for content or accuracy of posts. DYODD.

Note the recent abnormally HIGH, ONE DAY volume bars. Often they predict a change in trend direction soon after. Final capitulation.

NUGT
http://schrts.co/PU1aJQ

GDX
http://schrts.co/ihb1e0

GDXJ
http://schrts.co/ynRjNd

GUNR Natural Resources Fund
http://schrts.co/cRB5PR

I’d like to see how many Senior Health Officials, and for that matter, dentists in general, have mercury amalgam fillings in their own mouths. My guess is almost none!!

Health officials kill proposal to curb mercury dental fillings

WASHINGTON —

Senior U.S. health officials have squelched a Food and Drug Administration proposal that for the first time would have curbed dentists’ use of mercury — one of the planet’s nastiest toxins because it attacks the central nervous system — in treating Americans’ decayed teeth.

The proposal, approved by top FDA officials in late 2011 and kept secret since, would have told dentists they should not use mercury fillings in cavities in pregnant women, nursing moms, children under 6 and people with mercury allergies, kidney diseases or neurological problems.

It also urged dentists to avoid using fillings that contain mercury compounds in any patient, where possible.

The proposal and its secret rejection, after a cost-benefit analysis by officials at the Department of Health and Human Services, have put the Obama administration in the awkward position of concealing for over three years a safety communication potentially affecting millions of Americans.

The FDA has defended the safety of mercury fillings since the agency’s inception in 1930 and especially during an ongoing, 23-year legal battle with consumer groups. Consumer lawyers are pressing the government to ban the compounds, as Denmark, Norway and Sweden have done.

Read more here: http://www.theolympian.com/news/local/article28080148.html#storylink=cpy

Old chart but the picture has not changed!!

Gold turning up a little now. Fingers crossed!

Yeah, I don’t see gold turning higher today but silver might. If this is some sort of a bottom we should see the HUI up 10

Take Cover——Wall Street Is Breaking Out The Bubblies

But don’t call them re-ratings. After all, this time is different because nothing which happened during the last two Wall Street crashes is remotely relevant to today’s awesome outlook. For example, here’s a real yucker from Morgan Stanley’s ultra-bullish chief US equity strategist, Adam Parker. Unlike during the last tech-wreck, he avers, we are dealing with real companies with substantial sales and earnings, not dotcom eyeball candy:

Today’s tech companies bear little resemblance to the makeshift operations that quickly burned through cash more than a decade ago, says Adam Parker, Morgan Stanley & Co.’s Chief US Equity Strategist. In 1999, fewer than half of tech companies were profitable. With some notable exceptions, around 90% of tech firms now have positive operating margins.

Undoubtedly, Mr. Parker was still guzzling beer in his dorm room during the last tech crash, but that doesn’t excuse his abysmal ignorance of the historical facts. In the Great Deformation I tracked the fate of the dozen big cap tech companies before and after the dotcom crash. These included Cisco, Dell, Intel, Microsoft, Lucent Technologies, Juniper Networks, Hewlett-Packard, Nortel, WorldCom and Global Crossing—–with General Electric and AIG thrown in for spice.
Needless to say, these weren’t “makeshift operations”. Among them they had posted in excess of $300 billion in sales and $50 billion in net income at the turn of the century.

But here’s what happened. During the time between Greenspan’s infamous “irrational exuberance” speech in December 1996 and the March 2000 dotcom peak, the aggregate market cap of these dozen high flyers soared from $600 billion to $3.8 trillion. Notwithstanding respectable rates of sales and earnings growth, operating performance of these big cap tech giants did not remotely justify a 6X gain in market cap during this 39 month period.

For once Greenspan had been right. It was irrational exuberance on steroids——a proposition validated in spades by subsequent events. To wit, during the next 18 months a stunning $2.7 trillion of this market cap vanished and never returned. In fact, by 2012 four of these companies had disappeared and the market cap of those which remained was just $850 billion or 22% of the peak level.

and so far it hasn’t….otherwise this bounce will just fade–the “consolidation” attempt of yesterday and today remains pathetic.

Yep, silver is holding up much better than gold. Seems to have flattened out in the past few days.

spot silver

Looking at some green in the miners now. Very rare color (“colour” for the spelling impaired.)

PS If the only time that the metals turn higher is when the commercials have covered and gone long then let it happen soon.

Trump Hits a Bump

W as it Donald Trump or the wolverine that lives on top of his head who made the dumb crack over the weekend about Senator John McCain not being a war hero? After all, that ambiguous patch of ginger-colored fur has taken on a life of its own. If I were Trump, I’d simply disown the remark and say that the hair-thing blurted it out, ventriloquist-style, because he (Donald) forgot to feed it that morning.

I just want to go on record to say that if John McCain is not a war hero — what with getting shot down in the Vietnam jungle and spending 5.5 years being thrashed daily by his captors — than Donald Trump is not an asshole, or a pendejo, as the landscaping crew might put it (perhaps even a maricón).

One thing the Trump campaign is proving — to the flustered consternation of the moiling herd of other candidates — is what intellectual chickenshits all mainstream American politicians are. I know it is hard to see through the prevailing rainbow fog of diversity propaganda, but the USA really does have an immigration problem. My peeps in the old Democrat fold are the worst, of course, because they are not even capable of stating the plain truth that an illegal immigrant is something more than just “undocumented,” as if some bureaucratic error were made in God’s intake stack. And the issue of legal immigration policy is simply unmentionable, of course, because being “a nation of immigrants” means never having to say enough is enough.

It’s obvious that much of the developed world is now sore beset by past immigration policy choices and by the current inrush of desperate souls fleeing the evermore general breakdown of societies across the Middle East and North Africa (MENA). European pols are at least willing to have the debate, unappetizing as it might be. This dreaded political dance is now occurring against the background of a probable financial breakdown across Europe. When the utopian project of the European Union fails, as seems likely now due to the sovereign debt fiasco, I suspect that we will see a renewed effort to defend national cultures — French, German, and all the rest — in a manner that has a great potential for turning ugly. Financial failure means the death of the current banking system and the disappearance of massive notional wealth, and if that isn’t a recipe for extreme nationalism (plus xenophobia) than we are truly blind to the lessons of history.

And then, of course, there is the problem of Jihad. It’s for real, and it’s on the move all over MENA, and quite a few of its faithful agents are in place across Europe to make a whole heap of trouble in the event that the Euroland project falls on its face. This is perhaps beyond the question of merely preserving national identities. I think we will live to see an era of mass expulsions, fair or not.

It is not so easy to explain why America has its head so far up its ass on the issues of immigration, but maybe it is enough to say that sixty-plus years of TV advertising have set us up to be suckers for every sort of paid shill selling a sentimental sob story for one interest or another. This seems to be true most particularly of the educated class that labors in the trenches of advertising and public relations (i.e. propaganda). They have come to believe their own bullshit absolutely. Apparently, these true-blue believers are more hostage to the narratives they are paid to spin than the ragtag followers of Trump. (We’re a nation of immigrants….)

Were I a pol, I would propose a “time-out” from immigration of all kinds. The USA did it before, in the 1920s, after a half-century of prodigious immigration when new states needed to be settled, and new industries needed to be manned, and new cities needed to be built. We are not in the same circumstances anymore. The empty places have been filled (and then some). The factories were banished to China and elsewhere. Some of America’s farming regions aren’t working out so well a hundred years later — Nebraska has been depopulating and God knows what the fate will be of California’s Central Valley as the epochal drought creeps forward. The Chinese may be building super-duper mega-cities, but every fact of coming resource scarcity suggests to me that they are making the wrong bet on that disposition of things. It ain’ happening here, anyway. Our cities (with a few exceptions) face contraction.

Unfortunately, Trump’s antics will make it only more difficult to hold a sane debate about taking that time-out from immigration. So, one alternative is an insane debate about it, one based on sheer grievance and gall rather than the responsibilities of governance. I’ve proposed for many years that we are all set up to welcome a red-white-and-blue, corn-pone Nazi political savior type. I don’t think Donald Trump is it. But he will be a stalking horse for a far more skillful demagogue when the time comes. There’s a fair chance that the wheels will come off the banking and monetary system well before the 2016 election. Who knows who or what will come out of the woodwork before then.

Meanwhile, notice today’s headline from the fabled “newspaper of record” (The New York Times):

Women Who Dye Their (Armpit) Hair

Yes, these are the mighty issues that concern us most.

Trump Hits a Bump

watching silver and the miners, I expect gold will be the last to turn.

I don’t know if it will be “the bottom” but we have to be close for at least a good bounce.

Frosty

after trying several products, Twinkle is still my best cleaner

2-3 times a year keeps the silver in good condition

hierloom silver is fantastic

one of my Mothers friends was downsizing and moved into a seniors apartment last week

she sold me 44 pieces of  Sterling Flatware Birks Pampadour, for $500 with a beautiful case.  Melt (never) value would be at least $800.  eBay pricing at least $1200

citadel coin pieces were 70 cents a gram (60 cents melt)

i use my sterling daily and that helps keep it beautiful

Onward Pilgrims

Winedoc

Sometimes you only THINK you are
climbing a mountain, when they have sent you down
a dead-end mine trail.
http://www.railpictures.net/viewphoto.php?id=539207

Venezuelan farmers ordered to hand over produce to state

As Venezuela’s food shortages worsen, the president of the country’s Food Industry Chamber has said that authorities ordered producers of milk, pasta, oil, rice, sugar and flour to supply their products to the state stores

Venezuela’s embattled government has taken the drastic step of forcing food producers to sell their produce to the state, in a bid to counter the ever-worsening shortages.

Farmers and manufacturers who produce milk, pasta, oil, rice, sugar and flour have been told to supply between 30 per cent and 100 per cent of their products to the state stores. Shortages, rationing and queues outside supermarkets have become a way of life for Venezuelans, as their isolated country battles against rigid currency controls and a shortage of US dollars – making it difficult for Venezuelans to find imported goods.

Pablo Baraybar, president of the Venezuelan Food Industry Chamber, said that the order was illogical, and damaging to Venezuelan consumers.

“Taking products from the supermarkets and shops to hand them over to the state network doesn’t help in any way,” he said. “And problems like speculating will only get worse, because the foods will be concentrated precisely in the areas where the resellers go.

more http://www.telegraph.co.uk/news/worldnews/southamerica/venezuela/11754156/Venezuelan-farmers-ordered-to-hand-over-produce-to-state.html

I appreciate your optimism! 🙂

Bottom will be in today. Just a hunch.

Excellon Reports Second Quarter 2015 Production

http://finance.yahoo.com/news/excellon-reports-second-quarter-2015-210000669.html

Grizzly Enters Into Non-Binding LOI With Kinross

http://finance.yahoo.com/news/grizzly-enters-non-binding-loi-211343598.html

Quick gold mine closures not expected despite bullion’s fall

http://finance.yahoo.com/news/quick-gold-mine-closures-not-213151748.html

Gabriel Files for International Arbitration Against Romania

http://finance.yahoo.com/news/gabriel-files-international-arbitration-against-214255177.html

Klondex Reports Record Sales of 34,188 GEOs in 2Q2015; Increases Production Guidance for 2015

http://finance.yahoo.com/news/klondex-reports-record-sales-34-103000042.html

Back then–everyone was shocked–on all the Biz channels-as to why gold was going down in a financial meltdown-when paper assets were crashing and burning…This is from ZH yesterday–it’s the same old “virtuous circle” for U.S. denominated paper assets–they are as “good as gold”–one should consider himself lucky to own even a single share….and clutch it to his bosom….pretty neat trick “they ” have pulled off…

From Zero Hedge

Regarding item #2 (the US Dollar carry trade), there are over $9 trillion in borrowed US Dollars sloshing around the financial system. These are effectively US Dollar (shorts) as when you borrow in one currency to fund a carry trade you are effectively shorting that currency.

US Dollar deposits yield 0.25%. The Yen yields 0.001%, while the Euro yields negative 0.2% and the Swiss Franc yields negative 0.75%.

In simple terms, the US Dollar is extremely attractive as a store of value relative to most major world currencies. This is why capital has been flowing into the US Dollar, pushing the US Dollar to a 10 year high.

The flip side of this is that every upward move the Dollar makes against other currencies puts more pressure on the $9 trillion worth of US Dollar carry trades. This is why the US Dollar’s rally has been so aggressive: because much of it was carry trades blowing up forcing traders to cover their US Dollar shorts.

On that note, the US Dollar is currently breaking out against most major world currencies.

This is already a big enough concern that the Fed has been mentioning it in FOMC communiqués. Any rate hike will only INCREASE the interest rate differential between the US Dollar and other major world currencies… which in turn would drive even more capital to the US Dollar… and put even more pressure on the $9 trillion US Dollar carry trade.

AUANDAG=I totally agree with you!!!

With gold–an entirely political propaganda tool these days–one never knows just what the motivation is for these big banks to release such a statement…but here it is anyway–note that there is absolutely no call for any big counter trend rally-the call is for stabilization/consolidation–all in all this is a pretty lame article-nothing new we haven’t heard lately.

Gold Seen Going Back to Boring by Chart Watchers at Commerzbank

by Hannah Murphy
July 22, 2015 — 3:53 AM EDT

After a relentless stretch of losses, gold is due for a pause, according to Commerzbank AG.
Gold futures are near a five-year low after falling almost every day this month, reaching technical levels in Fibonacci analysis that may support prices for a few weeks, Commerzbank said. A separate indicator showed bullion dropped to a point that, in 2013, sparked gains, data compiled by Bloomberg show.

“I suspect the market selloff has ended for now,” Karen Jones, an analyst at Commerzbank in London, said by phone Tuesday.

“You need to get out of your shorts. I don’t have enough to say this is a reversal and to go out and buy it.”

For most of this year, gold traded with little fluctuation as demand for a safe haven was offset by the strengthening dollar. Gold broke out of the range as data on Friday showed China has been buying less metal than expected and investors speculated the Federal Reserve will raise interest rates soon.

Gold lost 1 percent to $1,092.80 an ounce by 8:43 a.m. London time on the Comex in New York. Prices fell a 10th day in the longest run since 1996 and are down 7.7 percent this year.
Banks including Goldman Sachs Group Inc. and Societe Generale SA are still bearish, while options traders were betting on more declines.

Speculators have boosted short positions, or bearish bets, to the highest in at least nine years, U.S. government data show. In technical analysis, investors and analysts study charts of trading patterns and prices to predict changes in an asset or security. While gold may drop to about $1,000, it will probably trade between $1,050 and $1,130 within the next few weeks, Jones said.

Technical Levels
Gold retreated to about $1,087 on Monday in London, a 50 percent retracement of its advance from 1999 to 2011. That’s a level used in Fibonacci, a system that takes figures found in nature to predict future moves. The level, and a 40-year so-called pivot line, should support the metal, she said.

Spot gold’s 14-day relative-strength index-RSI- settled at 17.3 on Monday, the lowest since April 2013. Levels under 30 indicate a rebound to some analysts. The last time the index was that low, prices rallied 9.5 percent in two weeks.

“We should see at least some hold down here,” said Jones of Commerzbank. “What I expect will happen is that we will have a period of consolidation.”