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

Why keep banging our heads against a wall? Why fight city hall?

Posted by Richard640 @ 23:23 on March 19, 2018  

What are all those monetary metals derivatives held by a few big U.S. banks?

Submitted by cpowell on 03:55PM ET Sunday, March 18, 2018. Section: Daily Dispatches

11:03p ICT Sunday, March 18, 2018

Dear Friend of GATA and Gold:

GATA’s and gold’s old friend Larry Parks, executive director of the Foundation for the Advancement of Monetary Education (FAME, http://fame.org), calls attention tonight to the third-quarter 2017 report of the U.S. Comptroller of the Currency, which shows that just several government- insured U.S. banks hold $45 billion in derivative positions related to monetary metals.

The chart disclosing these positions, appearing on Page 32 of the OCC report, is reproduced at GATA’s internet site here:

http://gata.org/files/PreciousMetalsDerivativesAtFDIC- InsuredBanks.jpg

The full OCC report is posted at GATA’s internet site here:

http://gata.org/files/OCC-Q3-2017- ReportOnBankTrading&Derivatives.pdf

Parks asks: Are these derivatives a “pass-through” on behalf of bank customers or are they held by the banks on their own behalf?

Of course the probability is that these positions are actually the positions of the U.S. government and other governments using the banks as intermediary cover lest more explicit public records of gold and silver market intervention be created.

After all, filings with the U.S. Securities and Exchange Commission and the U.S. Commodity Futures Trading Commission already have documented that governments and central banks are receiving discounts from CME Group, operator of the major futures exchanges in the United States, for surreptitiously trading all financial and commodity futures contracts offered by CME Group exchanges:

http://www.gata.org/node/14385

http://www.gata.org/node/14411

In January GATA published CME Group’s discount schedule for such trading by governments and central banks:

http://www.gata.org/node/17976

How likely is it that a few U.S. banks would be so involved with the monetary metals derivatives without the approval or instructions of the U.S. government?

 

Aramco Kills Massive Offshore IPO, Will Only Offer Shares Domestically

Posted by ipso facto @ 17:08 on March 19, 2018  

The question that many oil traders were asking for the past two years – and certainly all of Wall Street’s investment banks – was answered moments ago when the WSJ reported that as some had predicted, Saudi Arabia has decided to scale back its ambitions for a public offering for oil giant Aramco, either on the NYSE or elsewhere, and instead is moving ahead with a listing next year solely on the Saudi stock exchange while taking more time to decide if an international venue is worth it.

The news, which means Wall Street banks will make several hundred million less in IPO proceeds this year by not taking public the Saudi company which by some estimates was worth $2 trillion and had hoped to raise up to $100 billion, followed a Bloomberg report from last Friday according to which “Aramco said to get cool response on IPO from U.S. investors.”

While the original Bloomberg story was mysteriously taken down, what it reported was spot on: there was simply not enough demand for what would have been the world’s biggest IPO – at least, not at the $2 trillion price tag demanded by the Saudis.

cont. https://www.zerohedge.com/news/2018-03-19/aramco-kills-offshore-ipo-will-only-offer-shares-domestically

Vote in the Poll Vote in the Poll

Posted by ipso facto @ 14:38 on March 19, 2018  

Sold Klondex

Posted by ipso facto @ 14:37 on March 19, 2018  

bought more NTGSF, BONXF, WFRSF and MWSNF for the first time.

All these are spec plays. Do your own Due Diligence.

WOW DOW DOWn 430

Posted by ipso facto @ 14:34 on March 19, 2018  

Florida Bridge from dash cam. Look what was just feet away, a school bus.

Posted by goldielocks @ 13:39 on March 19, 2018  

Where have these gold promoters been the past 20 yrs??-don’t they see that gold does diddley squat in a crisis

Posted by Richard640 @ 13:30 on March 19, 2018  

The run to 1900 was done under AFTER the 2008 crash had bottomed and stocks turned up–

The Demise Of The Dollar: The Rush To Gold Is Here–[sure! U betcha!]

Authored by Alex Deluce via GoldTelegraph.com,

The US dollar has been dominant as the global reserve currency for a century. It was backed by gold, and the phrase, “good as gold,” had a literal meaning. Each dollar bill was worth its equivalent in physical gold. This made the dollar the world’s most respected and accepted currency

These days, the dollar is joined by the euro and the yen as accepted currencies. No longer dominant, the dollar is l

Early in the 20th century, the US was the most powerful nation on earth, and the dollar reflected that power. Our gold reserves were larger than those of any other country, thus setting the standard worldwide. The US dollar was, indeed, good as gold.

Just when u think it can’t get any more stupid, it does.

Posted by Maddog @ 13:17 on March 19, 2018  

The SM is cratering, Gold has a small bid and PM shares are unch to down a fraction….clearly there are buyers, as all that SM money has to find a new home, so some is going into PM’s ….yet still the scum sit on PM’s……just madness.

GDX and NEM each up a whole penny-gold up 6.20–Gold sure is great portfolio protection when stocks turn down

Posted by Richard640 @ 13:14 on March 19, 2018  

HUI down .12

The Short Play Is Working Fine On TZA.

Posted by Mr.Copper @ 13:12 on March 19, 2018  

Short tickers SD SDS SPXU high risk ETFs.

Isnt it interesting

Posted by Ororeef @ 12:36 on March 19, 2018  

the CRYPTOS were the tip off  ,to which way the DOW was going !  They go upppp,  Dow goes DOWN ..Gold follows cryptos…Watch the CRYPTOS ! they lead GOLD  ta da !

…Cant have a close pointing down ! too many techies watching ! gotta keep it in the triangle till we figure out what to do ! Down ..Down Dow !Talking heads say you need to be selective in what you buy,,yeah in one word …GOLD

Posted by Ororeef @ 12:30 on March 19, 2018  

riggeddown

Did their mums call in and ask why the 15 yr old quants are not back for lunch…..is this why PM shares

Posted by Maddog @ 12:08 on March 19, 2018  

and PM’s have caught a bid ???????

A lil boost for the precious …

Posted by ipso facto @ 11:41 on March 19, 2018  

gold

Re: HL

Posted by ipso facto @ 10:37 on March 19, 2018  

Workers at Idaho’s Lucky Friday mine have been on strike for 370 days

Lucky Friday workers together with their families and union leaders marched on Saturday in Mullan, Idaho, to commemorate the one-year anniversary of the strike they initiated on March 13, 2017, to push for better labour standards.

Lucky Friday, owned by Hecla Mining Company (NYSE: HL), is Idaho Silver Valley’s largest underground silver mine. It began operating in 1942 and is expected to have another 20-30 years of mine life. In 2016, the mine produced 3.6 million ounces of silver.

But the workers’ stoppage, which is said to the region’s longest, has idled the mine. According to The Spokesman-Review, out of the 230 union workers involved in the action, 100 attended Saturday’s rally. They chanted “Mullan is a union town! We won’t let you shut it down!” as they marched from downtown to Lucky Friday’s picket line.

In a press release, United Steelworkers said that last week they carried out a secret ballot election where union members “overwhelmingly voted to remain on strike and return to the bargaining table rather than submit the outstanding issues to binding interest arbitration.”

The group says that the main issue at hand is “management’s unfair labor practices.” The most sensitive point in the negotiation is that Hecla wants to change the seniority-based bidding system established in the 1980s and which governs work assignments.

cont. http://www.mining.com/workers-idahos-lucky-friday-mine-strike-370-days/

Morning Maddog

Posted by Buygold @ 10:15 on March 19, 2018  

Yep. USD down, pm’s down. Seems about right.

The comedy show continues.

One week from today the yuan/oil exchange is supposed to open, they’ll really pressure pm’s then…

No way gold is going up with the Fed about to raise rates on Wednesday.

Rye Patch getting taken out as well

Posted by ipso facto @ 9:49 on March 19, 2018  

ALIO GOLD AND RYE PATCH GOLD ANNOUNCE BUSINESS COMBINATION

March 19, 2018, Vancouver, BC – Alio Gold Inc (TSX, NYSE AMERICAN: ALO) (“Alio Gold” or the “Company”) and Rye Patch Gold Corp. (TSX.V: RPM; OTCQX: RPMGF; FWB:5TN) (“Rye Patch”) are pleased to announce they have entered into an agreement whereby Alio Gold will acquire, through a plan of arrangement (the “Arrangement”) all of the outstanding shares of Rye Patch. Alio Gold will host a conference call at 11:00am EDT (Toronto) time today to discuss the transaction and the details of the call can be found at the end of the release. Management from both Alio Gold and Rye Patch will participate in the conference call.

Under the Arrangement, each common share of Rye Patch will be exchanged for 0.48 common shares of Alio Gold. The offer implies a value of C$1.57 per Rye Patch share, a 35% premium to Rye Patch shareholders, based on the 20-day volume weighted average trading price of Alio Gold shares on the TSX and Rye Patch shares on the TSX.V for the period ending March 16, 2018. The offer values Rye Patch’s outstanding equity (undiluted) at approximately C$128 million. The number of Alio Gold shares to be issued will be approximately 39.0 million based on the issued and outstanding shares as of the announcement date, subject to adjustment for options, warrants and restricted stock units vested prior to the Arrangement. The transaction is expected to close on or about May 25, 2018. Existing Alio Gold and Rye Patch shareholders will own approximately 53% and 47% of the combined company, respectively, following the close of the transaction.

Transaction Highlights
•Increased asset diversification – 165,000 ounces of gold production1 in 2018 from two open-pit, heap leach operations in the stable jurisdictions of Sonora, Mexico and Nevada, USA
•Enhanced growth profile – potential for low-capital expansion to increase expected annual gold production at Florida Canyon
•Improved cash flow generation to support development project – cash flow generation from two mines to support development of the feasibility stage Ana Paula project which is anticipated to produce 115,000 ounces of gold per year2
•Enhanced capital markets profile and potential re-rating – increased market capitalization of the combined company has the ability to appeal to a broader shareholder base and improve share trading liquidity
•Strong balance sheet – combined pro forma entity has approximately $74 million in cash and equivalents3 and $29 million in total debt3

more https://finance.yahoo.com/news/alio-gold-rye-patch-gold-110000877.html

Pathetic PM shares joined at the hip to S&P 500……

Posted by Maddog @ 9:48 on March 19, 2018  

tks to 15 yr old quants, with too much money.

Hecla taking out Klondex … too bad I’m so far underwater it just guarantees a loss

Posted by ipso facto @ 9:42 on March 19, 2018  

Hecla to Acquire Three High-Grade Nevada Gold Mines with the Acquisition of Klondex Mines Ltd.

Hecla Mining Company (NYSE:HL) (Hecla) and Klondex Mines Ltd. (NYSE American:KLDX; TSX:KDX) (Klondex) today announced Hecla will acquire all the outstanding shares of Klondex, a high-grade Nevada underground gold producer with its Fire Creek, Midas and Hollister mines, through a plan of arrangement (the Transaction). Klondex’s Canadian assets will be spun out to its existing shareholders.

Under the Transaction, Hecla will acquire Klondex for consideration of US$462 million with a mix of cash and shares of Hecla common stock and the newly formed company (Klondex Canada). Klondex’s shareholders will receive US$2.47 per share in cash or shares of Hecla, which represents a 59% premium to Klondex’s 30-day volume-weighted average price, as at March 16, 2018, on the NYSE American.

“Opportunities to acquire significant land packages along Nevada’s prolific gold trends are very rare. Rarer still are for these land packages to have the highest grade mines in the U.S. and this transaction is consistent with Hecla’s strategy of owning large prospective land packages with mines where we can improve costs, grow reserves and expand production,” said Phillips S. Baker, Jr., Hecla’s President and CEO. “We structured the deal to use our excess cash balances so our shareholders can benefit from the approximately 162,000 gold equivalent ounces a year of production while minimizing dilution.”

https://finance.yahoo.com/news/hecla-acquire-three-high-grade-071000233.html

macroman3 @ 23:00

Posted by Mr.Copper @ 7:53 on March 19, 2018  

Rich640 is a friend of ours. I think that was totally uncalled for.

Silver Train

Posted by Maya @ 1:39 on March 19, 2018  

rrflasher-copy

It’s Monday.  Time to get on the move  Let’s try Amtrak’s Viewliner Theatre car… the best view on rails!
http://www.railpictures.net/photo/651848/

 

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Post by the Golden Rule. Oasis not responsible for content/accuracy of posts. DYODD.