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possible new first lady
nine photos of trump’s stunningly beautiful wife (a former bikini model).
if this is too much for you, scale back with a swimsuit pic of chelsea clinton.
Is the US Playing Hardball Now?
And there would be quite a bunker-busting message behind such a subversive attack: The realization that the U.S. — or worse, its out-of-control U.S.-crime-syndicate/ZOG associates — have a new weapon with which to intimidate the Russians, Chinese and Iranians. The currency war and dedollarization aspect is paramount as well.
Silverngold: 19:31
I am chiming in …….
Two f*ing bucks doesn’t buy what it used to
Keep stacking silver
TSX energy stocks and CDN banks and mining stocks are smelling up the Great White North anyway
Winedoc
Natural News Bombshell…..FWIW
China and America already at war: Tianjin explosion carried out by Pentagon space weapon in retaliation for Yuan currency devaluation… Military helicopters now patrolling Beijing
RNO
Work experience and all, Id agree. Inside might better off, depending if egghead has any. PS who knows though maybe that’s why they can’t get any.
Silverngold
My daughter works for the largest redi mix company in Oklahoma. They can’t get enough fly ash to produce all the cinder blocks they have orders for. If I have to choose between some egg head with a phd or someone inside the industry, the egg head comes in second.
rno
Kunstler- the techno-industrial high life can continue indefinitely, despite the mandates of reality — in particular, the fairy tales about oil: we’re cruising to energy independence
True Believers
There is a special species of idiot at large in the financial media space who believe absolutely in the desperate and tragic public relations bullshit that this society churns out to convince itself that the techno-industrial high life can continue indefinitely, despite the mandates of reality — in particular, the fairy tales about oil: we’re cruising to energy independence… the shale oil “miracle” will keep us driving to WalMart forever… our wells doth overflow as if this were Saudi America… don’t worry, be happy…!
Such a true believer is John Mauldin, the investment hustler and writer of the newsletter Thoughts From the Frontline, who called me out for obloquy in his latest edition. After dissing me, he said:
“I have written for years that Peak Oil is nonsense. Longtime readers know that I’m a believer in ever-accelerating technological transformation, but I have to admit I did not see the exponential transformation of the drilling business as it is currently unfolding. The changes are truly breathtaking and have gone largely unnoticed.”
Mauldin is going to be very disappointed when he discovers that the vaunted efficiencies in shale drilling and fracking he’s hyping will only accelerate the depletion of wells which, at best, produce a few hundred barrels of oil a day, and only for the first year, after which they deplete by at least half that rate, and after four years are little better than “stripper” wells. The PR shills at Cambridge Energy Research (Dan Yergin’s propaganda mill for the oil industry) must have pumped a five-gallon jug of Kool-Aid down poor John’s craw. He believes every whopper they spin out — e.g. that “Right now, some US shale operators can break even at $10/barrel.”
The truth is the shale oil industry couldn’t make a profit at $100/barrel. The drilling and fracking boom that began around 2005 was paid for with high-risk, high-yield junk bond financing and other sketchy, poorly collateralized financing. Most of the earnings in the early years of shale oil came from flipping land leases to greater fools. Now that the price of oil has fallen by more than 50 percent in the past year, the prospect dims for that junk financing to be repaid. Since that was “bottom-of-the-barrel” financing, the odds are that the shale producers will have a very hard time finding more borrowed money to keep up the relentless pace of drilling needed to stay ahead of the short depletion rates. They are also running out “sweet spots” that are worth drilling.
We will look back on the shale oil frenzy of 2005 to 2015 as a very interesting industrial stunt borne of desperation. It gave a floundering industry something to do with all its equipment and its trained personnel, and it gave wishful hucksters something to wish for, but it never penciled-out economically. Shale oil production turned down in 2015 and the money will not be there to get the production back to where it was before the price crash. Ever.
Some additional uncomfortable truths should temper the manic fantasies of hypsters like Mauldin. One is that we are no longer in the cheap oil age. All the new oil available now is expensive oil — whether it’s Bakken shale or deep water or arctic oil — and it costs too much for our techno-industrial society to run on. That is why the world financial system is imploding: we can’t borrow enough money from the future to keep this game going, and we can’t pay back the money we’ve already borrowed. We have to get another game going, one consistent with contraction and with much lower energy use. But that is not an acceptable option to the people running things. They are determined to keep the current matrix of rackets going at all costs, and the certain result will be very messy collapse of economies and governments.
Industrial economies face a fatal predicament: Oil above $75/barrel crushes economies; under $75/barrel it crushes oil companies. We’ve oscillated back and forth between those conditions since 2005. The net effect in the USA is that the middle class is rapidly going broke. All the financial shenanigans aimed at propping up Wall Street and Potemkin stock markets was carried out at the expense of the middle class, now deprived of jobs, incomes, vocations, stability, and prospects. They may already be at the point where they can’t afford oil at any price. That “energy deflation” dynamic, in the words of Steve Ludlum at the Economic Undertow blog, is a self-reinforcing feedback loop that beats a path straight to epochal paradigm shift: get smaller, get local, get real, or get out.
The hypsters and hucksters won’t believe this until it jumps up and bites them on the lips. These are the same idiots who believe we are going to continue Happy Motoring by other means — self-driving, all-electric cars — and who think there is some reason for human beings to travel to other planets when we haven’t even demonstrated that we can plausibly continue life on this one.
As I averred last week, America is at the bottom of a self-knowledge low cycle in which we are incapable of constructing a coherent story about what is happening to us. The techno-industrial fiesta was such a special experience that we can’t believe it might be coming to an end. So, one option is to believe stories that have no basis in reality. As Tom McGuane wrote some forty years ago: “Life in the old USA gizzard had changed and only a clown could fail to notice. So being a clown was a possibility.”
Why do this silverngold
when they just spew it out of smokestacks ad infinum.
or anyone been to China? Cities in coal ash clouds in the mornings. I hear people like their coffee and many who don’t have electricity yet still use coal dust to get a cup of water warm.
U.S. Government Spraying Tons Of Toxic Coal Fly Ash Into Atmosphere Via Chemtrails
National Security NO LONGER Justification For Poisoning The Skies, Humans, Earth
Coal Fly Ash Used In Chemtrail Aerosols: Geophysicist Produces Conclusive Evidence
“Evidence of Toxic Coal-Fly-Ash and Chemical Geoengineering in the Troposphere: Consequences for Public Health”
— J. Marvin Herndon, Ph.D.
Peer-Reviewed, Court-Admissible,
Scientific Research Paper Published
Exposing Geoengineering
Scientific evidence now exists which indicates the presence of “toxic coal combustion fly ash” in the Earth’s atmosphere. The following abstract excerpt comes from a peer-reviewed paper recently published in the August 11th issue of the International Journal of Environmental Research and Public Health under the title:
R640
Yesterday I heard Pisani on bubblevision mentioning that Drukenmiller had bought a lot of gold. A rare msm utterance.
Ipso–Druckenmiller?
Maybe this snap back is because of the “Druckenmiller effect”—he is the dean of hedge fund owners and I’d bet a lot of big money guys are thinking to start building positions—hence, every pullback gets bought…but l won’t get too carried away with this idea…there’s a long way to go between here and happiness….
Richard640
Interesting … as they usually run together. I guess your hypothesis will be tested.
HUI has come back quite a bit.
Ipso–almost unprecedented these past for yrs–but!!!! Silver is indicating gold will NOT print green today–I’d love to be
wrong–silver must participate…
Thawing diplomatic relations rekindle prospects of US investment in Cuba’s mining and petroleum sectors
JOHANNESBURG (miningweekly.com) – Re-establishing diplomatic relations between Cuba and the US after 54 years has rekindled fresh hopes that Cuba’s mining and petroleum industries will benefit from potential US investment in these sectors. On January 15, the US Department of Commerce and the Treasury published regulatory amendments to the Cuba sanctions regime, which resulted in changes to the implementation of the embargo, but not its total lifting. Most transactions involving Cuba, including private and public investment in mineral production, continue to be prohibited in accordance with the Helms-Burton Act. Nonetheless, Cuban Ministry of Energy and Mines general mining director Juan Ruiz Quintana tells Mining Weekly that restoring diplomatic relations between the US and Cuba, including the revocation of the economic blockade, will create a generally favourable investment climate in Cuba, as this will result in the country’s risk profile rating improving. “This will also allow for the participation of US investors in Cuba,” he points out. Independent research-driven investment dealer Salman Partners VP and senior mining analyst Raymond Goldie explains, however, that the US government still deems the mines that are currently operated by diversified Canadian miner Sherritt International, in Cuba’s Moa Bay, in Holguin province, as stolen assets of US-based diversified miner Freeport-McMoRan. Therefore, the US is still demanding that compensation be paid to Freeport for these mines that were seized from the company by the Cuban State in 1960. When former Cuban Prime Minister Fidel Castro’s Communist Party seized power in Cuba in 1959, it swiftly nationalised the assets of most foreign corporations as the country transitioned to communism, including that of Freeport’s Moa Bay operation. Nonetheless, Goldie notes that Sherritt will certainly benefit from using US mining and oil and gas extraction technologies as they could improve the company’s recovery rate on these wells by “20% to 50%”, should the trade embargo on Cuba be lifted. He stresses that the Helms-Burton Act has to be rescinded, which will require an Act of Congress to be passed, before the US embargo on Cuba can be lifted. However, the Republican Party, currently with a majority vote in US Congress, has voiced its opposition to rescinding the Helms-Burton Act and it might, therefore, take several years before it will be legal for US companies to restart trade relations with Cuba. Goldie also points out that, while Sherritt shares are traded on the NYSE, the company’s executives are barred from entering the US making it quite difficult for Sherritt executives to market their operations and meet with investors in the US. “If this limitation on Sherritt executives entering the US were lifted, it would provide significant new opportunities for the company to raise capital in the US,” he states.
more
Richard640
They’re trying their best to ruin our day!
Too bad for them the end of the story is already written. ETA maybe not today but soon.
Get Gold Muppets!
China Stocks Crash, More Than Half Of Market Halted Limit Down; PBOC Loss Of Control Spooks Global Assets
Silver Train
The Burlington Zephyr departs Denver at twilight.
In 16 hours we will be in Chicago. It’s a long, dark road.
http://railpictures.net/photo/542853