måndagen den 31:e oktober 2011

Silverflagga

James Turk gjorde mig uppmärksam på den flagga som bildats i silvers veckograf. Jag ritade upp den i ovan graf och målet för den där formationen om den bryter ut uppåt, är över 60 dollar. Det kan jag leva med.

Trichet ut - Draghi in

Första åtgärden, sänka räntan?

Draghi Takes ECB Helm in Battle Mode as Debt Crisis Torments Policy Makers


"This will be a baptism of fire for Draghi,” said Nick Kounis, head of macro research at ABN Amro Bank NV in Amsterdam. “It is challenging to be ECB president in any environment, let alone in the midst of a serious crisis.”

As some governments look to him to back up their efforts with continued bond buying and perhaps lower interest rates, Draghi has to lead ECB policy makers at odds over how much more they can do without compromising the bank’s independence or main goal of stable prices. In a sign of the pressure Draghi faces, French President Nicolas Sarkozy said he spoke with him last week and was “convinced” the ECB will keep purchasing sovereign debt to ease strains on financial markets.

The governor of Italy’s central bank until the stroke of midnight, Draghi’s stance on the ECB’s bond purchases will be scrutinized after the policy contributed to the resignations of Executive Board member Juergen Stark and former Bundesbank president Axel Weber. Chairing his first ECB policy meeting on Nov. 3, he may also face pressure to cut rates four months after Trichet raised them."

2000 dollar guld är bara en tidsfråga.

"Jag kommer att fortsätta att intervenera tills jag är nöjd" - Japans finansminister

Currency Wars fortsätter med oförminskad styrka. Alla intervenerar de numer. Kolla rörelsen i dollar - yen nu på morgonen! Inte undra på att folk flyr till guld och silver (som tillfälligt fick en liten rekyl pga dollaruppgången, inget annat).

Yen Drops on Intervention

"The yen dropped from a post-World War II record against the dollar after Japan intervened in currency markets.

The yen sank 4.7 percent to 79.39 per dollar as of 3:01 p.m. in Tokyo after climbing to a record 75.35 earlier today.

The yen weakened 3.6 percent to 111.11 per euro after Azumi said he will act against speculation and plans to continue intervention until he is “satisfied.” The currency climbed last week even as the Bank of Japan unveiled measures that Governor Masaaki Shirakawa said were intended to respond to the appreciation and fallout from the European debt crisis.
Protecting Exports

The weaker yen bolstered shares of Japanese exporters. Canon Inc., a camera maker that gets more than 80 percent of its revenue outside Japan, rose 1 percent. Nintendo Co., the maker of the Wii game console, rallied 2.3 percent."

Man undrar var allt detta intervenerande ska sluta...

söndagen den 30:e oktober 2011

QE3 i pipen

Rickards får ursäkta, jag tror QE3 ligger i pipen pga den höga arbetslösheten i USA. Jag tror inte det bara handlar om dollarn. Fed har två mandat, det ena full sysselsättning och det andra prisstabilitet. Eftersom Fed nu öppet börjat prata om att släppa på just inflationsmålet i ett försök att boosta ekonomin och därigenom arbetsmarknaden, så tror jag att ett QE3 är mycket nära nu.

Bloomberg;

Employment Probably Cooled in October: U.S. Economy Preview

"Employment probably cooled in October, indicating the U.S. recovery remains too weak, economists said before reports this week.

Payrolls climbed by 95,000 workers after a 103,000 September increase, according to the median forecast of 65 economists surveyed by Bloomberg News ahead of Nov. 4 data from the Labor Department. The jobless rate was 9.1 percent for a fourth consecutive month, the report may also show.

Hiring slowed even as the economy grew in the third quarter at the fastest pace in a year, showing why some Federal Reserve policy makers have said in advance of their meeting this week that the central bank should be prepared to do more."

Om vi får ett QE3, ja då kommer vi att få se att massivt rally i hela råvarusegmentet.

GDXJ

GDXJ - det närmaste vi kommer ett index för PM-juniorer, har precis tagit sig över ett viktigt motstånd. Närmas kommande motstånd ligger sedan vid 34, dvs "endast" 6% upp. Men om det passeras, ja då är nästa motstånd inte förrän över 38 och det är ett rätt bra rally. Det betyder 19% från dagens nivå och 11% från nästa motstånd. Med pengatryckning, nya bailoutprogram och stärkt euro i ryggen så är det inte omöjligt att vi får en fortsatt stark trend nu framöver. Silver verkar ju även ha fått upp ångan igen vilket är ett gott tecken = risk on.

Ny Mauldin-artikel ute.

European Summit: A Plan with No Details

A Definite Plan (Minus Those Sticky Details)
Dear Mario
When Leverage Is the Kind-of Answer
Meanwhile Back in Portugal
Let’s Just Change the Rules
San Francisco, Kilkenny, Atlanta, DC … and the World Series Loss

SDR nästa?

Undrar när IMF börjar med sin egen variant av pengatryckning i form av SDR...

IMF bunkrar upp

"Internationella valutafonden, IMF, planerar att sätta upp en ny kortsiktig utlåningsfacilitet för att förhindra att den europeiska krisen sprider sig.

I den tänkta faciliteten ska IMF sannolikt erbjuda finansiering till länder som Italien och Spanien, där räntenivåerna är för höga for att länderna ska klara att stabilisera statsfinanserna."

Fan vad Sinclair var rätt ute tidigt. QE to infitity gäller när man väl öppnat boxen till kvantitativa lättnader. Större och större doser finansiellt heroin kommer dessutom att behövas för att ekonomierna ska kunna växa. Inflate or die.

Hur skapas pengar?

Lite helgutbildning som inte kommer att få er att vilja hålla mindre PM-relaterade investeringar.






Marc Faber om pengatryckning i ECB etc.

Marc Faber menar på att pengatryckning kan skjuta på "the endgame" 5-10 år till. Kostnaden kommer att vara allt högre inflationsiffror. ECB kommer att printa, såväl som Fed.

lördagen den 29:e oktober 2011

HUI - intervjuer - CFO

HUI har tagit sig förbi första målet vid 580, nu återstår 3 mål (motstånd) innan nytt ATH som lär komma inom en inte alltför lång framtid. Guld 2000 USD/oz och silver uppåt 45 USD/oz innan nyår är ingen omöjlighet. Detta skulle med lätthet skicka HUI till nytt ATH.

Royal Canadian Mint släpper en ETF som verkar vara uppbyggd på "rätt sätt", till skillnad mot GLD...

Royal Canadian Mint offers its own convertible gold ETF

"Unlike other gold investment products, the purchaser of an ETR owns the actual gold rather than a unit or share in an entity that owns the gold. The net proceeds of the offering will be used to purchase gold on behalf of the initial purchasers of ETRs at the London p.m. fix price on the closing date of the offering (closing date). Subject to certain restrictions, ETR holders will be entitled to redeem their ETRs for physical gold products in the form of 99.99 per cent pure gold bars or coins, or for cash based on the future gold price or market price of the ETRs."

Man får väl läsa på om de där "certain restrictions" först förstås, men den här ser ju lovande ut.

Intervjuer

KWN Weekly Metals Wrap
James Dines
Chris Whalen
Veckans Goldseek Radio

Och så sist men inte minst, livstecken från Clifton. Ny ledning och mer info. Välfylld kassa och fortsatta borrningar så de har iaf inte legat på latsidan. Det ser ut som om vi inte kommer att behöva vänta så mycket längre till heller innan handelsstoppet hävs.

Clifton Star Resources Announces Management Changes and Update


"VANCOUVER, BRITISH COLUMBIA--(Marketwire -10/28/11)- The Board of Directors of Clifton Star Resources Inc. (TSX-V: CFO.V - News)(Frankfurt: C3T.F - News) ("Clifton Star" or the "Corporation") is pleased to announce the appointment of Michel F. Bouchard to the positions of President and Chief Executive Officer of Clifton Star, effective November 7, 2011. Mr. Bouchard, who has been involved in the exploration, development and production aspects of the mining sector for over 30 years, brings a wealth of knowledge and experience to Clifton Star, and the required expertise to advance the Corporation's Duparquet Project. He has been a director and senior officer of several public companies in the mining sector.

Clifton will also be filing a NI 43-101 report dealing with the Donchester portion of the Duparquet project in the coming weeks, which the Corporation believes is the additional report that will allow the BCSC to move toward revoking the cease trade order.

Notwithstanding the cease trade order, the Corporation, which is well financed (with approximately $15 million in cash and term deposits), has been conducting an active exploration program since the end of its joint venture with Osisko, including diamond drilling and metallurgical work. The Corporation will report results from these activities as they become available."

Trevlig lördag! Själv ska jag hjälpa syrran att flytta...har redan ont i ryggen...

fredagen den 28:e oktober 2011

Davies

Ben Davies - One Chart Says it All, Extremely Bullish for Gold

"This policy action in Europe is giving other countries the excuse to turn on the monetary spigots. Japan has increased their quantitive easing. The UK has done QE and even emerging markets such as Brazil and India are starting to move to cut rates. China, no doubt, is sitting with its own batch of non-performing loans within the banking system. They will also begin to cut rates.

We expect all of this will continue to underpin the gold and silver markets."

Jag lägger till en sak, ECB kommer att sänka räntan vid nästa tillfälle. Trichet ut - Draghi in och det kommer att betyda sänkta räntor framöver. T.o.m. Coxe sa det rakt ut vid sin CC idag. Lägg på detta ett kommande QE3 från Fed och vi har en perfect storm för guld och silver framöver.

Keiser

Nåja, han är ju i alla fall underhållande :)

Aura Minerals

Det ska bli mycket intressant att se ORA's Q3-rapport. Det vore ju väldigt trevligt om jag lyckats identifiera ett turnaround-case i rätt tidpunkt. Jag tror rapporten kommer 14:e november. Allt över ett nollresultat skulle göra mig mycket glad. Viktigt oxå att de har en permanent CEO på plats nu.

Aktien har trendat fint uppåt sedan botten och nu även passerat mycket viktiga MA50. Motstånd på 1.70 CAD men jag tror att vi kommer att övervinna det.


James Turk recenserar Currency Wars

James Turk har recenserat Jim Rickards bok Currency Wars. Jag har förbeställt boken tillsammans med en kollega och det ska bli mycket intressant att läsa den.

“Currency Wars”

"October 27, 2011 – It was my good fortune to receive an advance copy of Jim Rickards' new book, “Currency Wars”. It is a great book, and I highly recommend it.

The book is split into three parts, with the first part being almost surreal because it reads more like a novel than non-fiction. It details Rickards’ participation in an exercise at the Warfare Analysis Laboratory near Washington D.C. This group is one of the Defense Department’s leading venues for war games and strategic planning, but in a first-ever event, the game in which Rickards joined was not a war-fighting simulation. Rather, several dozen people from the military, academic and intelligence communities fought a global financial war using currencies and capital markets to support national interests. Rickards and two colleagues were invited to give the simulation some real-world, Wall Street expertise about markets, which they certainly did.

I guarantee that when you start reading this part, you won’t put the book down until you learn the outcome of the war."

Mr The Orginal XYZ-bull

Säga vad man vill om James Dines, men han är en karismatisk herre och det är inte ofta man får höra honom i intervjuer. Därför ska det bli lite extra kul när KWN väl släpper den lyssningsbara delen av den här intervjun.

James Dines - Government’s Theft Forcing Violent End

"Every time gold has a pullback or a correction, they say, ‘Well it’s over, it’s a bubble. It’s useless.’ Gold is not useless. It forces (over time) budgets to be balanced or else there is a penalty.

During this recent drop gold went down from nearly $2,000 an ounce to about $1,600 an ounce and they said, ‘Well, it’s a crash, it’s over.’ No, it’s just a violent correction and you are going to get more of these as we move higher and the coming currency devaluations that I’ve been warning about for years finally expresses itself.

What happens will depend on whether governments try to print more or whether they come to their senses and either repudiate the dollar and come out with a new currency backed by gold. You need to prepare for it and you need not to be concerned about these pullbacks in gold because there is only so much of it in the world.

The people who own it (gold) own the ultimate money and they don’t have to depend on anybody else."

Mr The Original Everything Bug har klara åsikter om det mesta och även om hans Dines Letter endast är en enda lång hyllning till han själv, så måste man ge honom lite cred för att tidigt se nya trender, helt klart.

GLD

Jag skulle inte röra GLD med tång.

D-Day’ Near For GLD


"The prospectus further warns that the gold held in trust (inside HSBC’s secure vault) could be “lost, stolen, or damaged”. On top of that, the prospectus adds that the Sponsor can block “redemptions” (indefinitely) any time it decrees there to be an “emergency”. Quite obviously, the gold held by the Custodian “belongs” in every meaningful sense to the Sponsor and Custodian – not the unit-holders.

Indeed, to refer to this structure as a “Trust” is simply perverse. The one assurance which unit-holders could rely upon: that the rate of dilution of the fund would be capped at a fixed maximum is about to expire. “D-Day” (i.e. Dilution Day) has finally arrived for GLD. Lest investors think this merely some administrative triviality, the fund’s creators deliberately chose to be extremely melodramatic in this respect.

On the 11th day, of the 11th month, of the 11th year (November 11, 2011) the self-imposed cap on the rate of dilution for this fund expires. From this point onward, the fund will be diluted by any/all “expenses” incurred while administering the fund. This becomes especially important at this point in time, given one of the specific risks of dilution which the fund warns of in its prospectus:

“The Trust may be required to terminate and liquidate at a time which is disadvantageous to Shareholders.”

With respect to this, the prospectus warns that because the fund is not “actively managed”, it will sell off its gold to pay expenses “as necessary”, and without the slightest regard to the current price of gold. Putting this together, the prospectus warns that dilution will increase over time, warns that its cap on expenses is about to expire, and further warns that when it pays for those “expenses” that it might happen to sell its gold at the worst possible time.

In roughly two weeks time, unit-holders can add a new risk to their list of worries: the potential for virtually unlimited dilution of any gold actually being held on behalf of those shareholders. When we couple that with the fact that the more that unit-holders lose the more HSBC wins, then the combination of a blatant conflict of interest and the potential for unlimited “dilution” (in HSBC’s favor) represents an intolerable level of risk for any prudent investor."

torsdagen den 27:e oktober 2011

James Turk intervju med Ralf Flierl från Smart Investor Magazin

Avino, vad händer? Har det kommit nyheter?

Kunde inte hålla mig :)

Lite läsning

John Embry: Gold market maelstrom likely a false alarm

Why A Mega Gold Stocks Rally Is Imminent

Multi-Billionaire Salinas - Gaddafi Killed Over Gold Currency

Robin Griffiths - Here is the Reason Gold Spiked $75 in 2 Days

Gerald Celente - Gold & Silver Bull Market Will Continue to Roar

KWN Special - John Hathaway: Gold Stampede Now Imminent

John Embry - Physical Gold Demand Crushing Manipulators

HUI - nivåer

Ser ni hur fort det går när det väl vänder upp? Pang! Ett fåtal dagar räcker för att skicka upp guldet 100-150 dollar och silver 4-5 dollar. Det är pga det här som jag fortsätter tjata om long and strong och att det är utopi att jaga bottnar och toppar. Det är långa trenden som gäller.

Jag har ritat in de motstånd jag ser uppåt för HUI.


Bailout och pengatryckning - börserna jublar

Det blev som jag trodde, en rejäl haircut, återkapitalisering av bankerna och en rejäl ökning av räddningsfonden till den ofattbara summan 1000 miljarder euro (eller som de säger, trillions are the new billions...). Självklart rallar börserna på detta och jag tror som jag nämnt tidigare. Dvs att om vi fick detta beslutet så står vi inför en stark period nu.

EU Sets 50% Greek Writedown, $1.4T in Rescue Fund

"European leaders persuaded bondholders to take 50 percent losses on Greek debt and boosted the firepower of the rescue fund to 1 trillion euros ($1.4 trillion), responding to global pressure to step up the fight against the financial crisis.

Ten hours of brinkmanship at the second crisis summit in four days delivered a plan that the euro area’s stewards said points the way out of the debt quagmire, even if key details are lacking. Last-ditch talks with bank representatives led to the debt-relief accord, in an effort to quarantine Greece and prevent speculation against Italy and France from ravaging the euro zone and wreaking global economic havoc.

“The world’s attention was on these talks,” German Chancellor Angela Merkel told reporters in Brussels at about 4:15 a.m. today. “We Europeans showed tonight that we reached the right conclusions.”

Measures include recapitalization of European banks, a potentially bigger role for the International Monetary Fund, a commitment from Italy to do more to reduce its debt and a signal from leaders that the European Central Bank will maintain bond purchases in the secondary market." = print, print, print!

Kan ni stava till S T A G F L A T I O N ? Det är precis vad vi åker med 200 km/h rakt in i nu. Vi har en perfect storm för guld och silver i uppbyggnad. Att hålla PM-relaterade investeringar kommer att bli viktigare än någonsin i detta ekonomiska klimat.

Ökad penningmängd i euroområdet

"Penningmängden i euroområdet, mätt som M3, steg 3,1 procent i september jämfört med samma månad föregående år. Det visar statistik från den europeiska centralbanken, ECB. Analytiker hade räknat med en ökning med 2,8 procent, enligt en sammanställning från Bloomberg News."

Det blir den gamle sedelpressen som återigen får stå för fiolerna. Som jag alltid har sagt, Centralbankerna har att välja mellan inflation och depression. I realiteten är det inget val.

GATA's 9 punkter

Chris Powell: Nine blows against the gold price suppression scheme

1) GATA beat the Federal Reserve in federal court.
2) The cables from the U.S. embassy in Beijing.
3) The class-action lawsuit against silver price manipulation.
4) Confirmation that central bank gold sales equaled leased gold.
5) The German central bank admitted secret gold activities.
6) A gold price manipulation scheme public relations blunder.
7) Mexico bought gold paper instead of gold itself.
8) This month GATA gained much mainstream media recognition.
9) The common disparagement about gold soon may be self-defeating.

Läs om de 9 olika händelserna under länken. Det kan inte finnas en enda person längre med öppna ögon som inte tror att Centralbanker manipulerar guld. För mig är det glasklart att det "pillas" i PM-marknaden och har man följt handeln med guld och silver under ett antal år som jag gjort så ser man det bara genom att följa handelsmönstret. Det kommer dock att sluta på samma sätt som med The London Gold Pool - dvs de kommer att bli överkörda av en fysisk efterfrågan utan dess like.

onsdagen den 26:e oktober 2011

CMC - vilka halter!!

Pressrelease ute nu. Checka halterna på de första 170 tonnen! Man måste ju tusan se metallen med blotta ögat.

13% bly
24% Zink
0.79% Koppar
5000 gram per ton silver (!)

CMC Metals Ltd. News Release

Wednesday, October 26, 2011
Silver Hart Direct Ship Grades

Vancouver, B.C.: CMC Metals Ltd. (the "Company") is pleased to announce the assay average for the high grade direct ship ore that is prepared and ready for shipping. Approximately 10 percent of the ore bags were sampled to determine the average grade of the ore. The sample mean of the 15 samples demonstrated an average grade of 13 percent lead, 24 percent zinc, 0.79 percent copper, and 5,000 grams per tonne silver. Samples were prepared and assayed by ALS Laboratory Group in Vancouver, an ISO qualified assay facility. Silver values were determined using fire assay method with gravimetric finish. All other assays were by 4AR-ICP method. Standard samples and blanks were used for quality assurance and quality control for sample analysis. Final values may vary once all the ore bags are tested.

A total of 116 ore bags are ready for shipping for an estimated 174 tonnes. The Company is waiting for confirmation of the initial test shipment to our customer once the terms and conditions have been finalized. The Company will continue to process the remaining 1,500 tonnes of lower grade ore for shipment over the next few weeks.

Happy Festivus!

Indians rush to buy more gold during festive period

"Despite a huge jump in gold prices , Indians thronged gold markets all across the country on Monday, with serpentine queues outside retail outlets way past midnight, buying up gold coins rather than gold jewellery.

MUMBAI - -If any more proof was needed about India's craze for gold, one just has to look at sales in just one city for just one day. Nearly 35 kilograms of gold was sold on a single day on Monday, earning more than $1.8 billion for traders on the highly auspicious Dhanteras, the day preceding Diwali.

Even as Indians get ready to celebrate the festival of lights Diwali on Wednesday, October 26, the people of Chandigarh in Punjab have shown the intensity with which the yellow metal continues to be revered in the country by buying up massive quantities of gold on Monday"

Avino & CMC Metals

Två silverbolag som tagit en hel del stryk och som bör stå inför snar uppvärdering. Med silver "on the move" igen och med ökande kassaflöde för båda bolagen så är förutsättningarna i alla fall de rätta för en uppvärdering i närtid.

Avino bör vara nära ett slutförande av bygget med den tredje nivån i San Gonzalo-gruvan nu. När den sedan tas i bruk så kommer Avino att bryta malm från tre nivåer och ha en förväntad produktionstakt på ca 1 Moz silver årligen + lite guld och basmetall. Jag har för mig det var nu i november som David ska till Boston för att presentera bolaget inför potentiella investerare i form av en fond har jag för mig. Samma fond som tidigare meddelat att Avino skulle återkomma när de var AMEX-noterade. Aktien är riktigt billig just nu och eftersom Avino knappast har några kapitalbehov så behöver man heller ej vara rädd för att en PP skulle ligga i pipen. Jag tror det är ett mycket bra läge att öka i aktien. Tekniskt så undrar jag om det inte börjar bildas en ny trendkanal. Vi får ge det några dagar men tills jag bli motbevisad så tror jag att det är detta som gäller;

CMC Metals som har slutfört det andra, större, bulkprovet vid Silver Hart. Pga tidig snö fick arbetet avslutas lite tidigare än planerat, men de fick ändå 1700 ton brutet, vilket är bra mycket mer än förra årets 130 ton.

1700 ton som jag tror kommer att snitta 2500-3000 g/t Ag ger 135 000 - 165 000 oz

Med silver på 30-35 USD/oz så blir det 3.2 - 4.6 MUSD om man räknar att de får 80% av spot för sitt "koncentrat" inkl. kostnader för brytning.

Lägg sedan till detta kassaflödet från Bishop Mill. De har malm med halter på 1 oz/ton guld (!) och kommer att kunna producera 100 000 oz över 3 år varav de får behålla hälften (de har JV med annat bolag).

Dvs ca 15 000 oz guld per år till CMC. De tror själva att detta kommer ge 5 ggr så stor omsättning som bulkproven från Silver Hart. Låt oss säga att det högt räknat kostar 1000 USD/oz totalt att producera det, det ger vid dagens guldpriser ca 10 MUSD netto. Kombinerat med Silver Hart har vi då 13-15 MUSD netto. MCAP är idag 12 MCAD.

Ingen kan säga att CMC-aktien är dyr med de här förutsättningarna. Och om vi har silver vid 40, 45, 50 så blir ju förstås kalkylen markant bättre.

Aktien behöver jobba sig över ett motstånd vid 22 cents men det bör ju inte vara något som helst problem kan jag tycka om det bara kommer lite ökad volym i handeln. Det räcker nog att det kommer lite positivt nyhetsflöde om Silver Hart, Bishops Mill etc. för att sätta fart på aktien uppåt igen. Fundamentalt ser det mycket bra ut och aktien är nedbombad i skolästen.

Den som är i närheten av München eller som planerat ett besök på Munich Gold Show kan passa på att prata med CMC Metals där;

"CMC Metals has a broad investor base with many investors from Europe. I will be at the Munich show on Friday, Nov 4 and Saturday, Nov 5 to answer questions that you may have about the company. Please feel free to contact me should you have plans to be at the show. Gord Zelko"

Maloney video

Michael Maloney: "We pay tax for the privilege to have currency"

tisdagen den 25:e oktober 2011

Ny genomgång - Aura Minerals

Med guld på väg mot en ny milstolpe vid 2000 USD/oz så börjar guldbolagen på allvar att få rejäla kassaflöden. De flesta institutioner använder sig av guldpriser som är långt under dagens i sina analyser av bolagen. Detta kommer att få intressanta effekter på värderingar och prognoser för vinst när de till slut tvingas att höja dessa för att spegla verkligheten. Guldbolag med en produktion på 150 000 – 200 000 oz Au om året börjar nu dessutom bli hett villebråd för andra större guldbolag som vill växa och ta klivet upp i den högre klassen. Det är lättare, billigare och säkrare att köpa upp en befintlig producent än att bygga egna nya gruvor med vad allt det innebär i form av risk och finansiering av CAPEX.

Ny genomgång inom guldets mid-tier-segment. Aura Minerals, en guldproducent med gruvor i Brasilien, Honduras och Mexiko. Prognosen för helåret 2011 är 170 000 - 180 000 oz Au plus en del koppar och silver. Nästa år är prognosen över 200 000 oz Au.


Genomgång för nedladdning i pdf-format

Bolag: Aura Minerals Inc.
Ticker: ORA.TO

Antal aktier: 228 M (FD 243 M)

Börsvärde: 326 MCAD @ 1.43 C$ (ej FD)
Kassa: 19.5 MCAD
Metaller: Au, Cu, Ag & Fe

Reserver: 1.4 Moz Au

Resurser: 4.3 Moz Au, 13.5 Moz Ag, 767 Mlbs Cu (ej inräknat Arapiraca project)

Produktion: 170 000 – 180 000 oz Au 2011
Länder: Brasilien, Mexiko & Honduras

Annat: Ingen hedge

Hemsida: www.auraminerals.com

Mer hintar om ett kommande QE3

När det gäller TA: keep it simple och kolla på långa trender. Det är vad som verkligen fungerar.

Q E 3

Nu nämns det från Fed-håll att Operation Twist möjligen vad ett misslyckande och att de måste göra mer. Den amerikanska tioåriga räntan är nu högre än när de inledde OT.

Fed ser ju som bekant mycket allvarligt på den vikande husmarknaden och att de kommer att göra mer för att pressa ned räntorna är nog redan i korten. Vi får nu starkare och starkare indikationer på ett kommande QE3 och ingen bör ju vara förvånad när ett sådant eventuellt lanseras.

Fed Wants to Ensure Housing Affordability, Dudley Says

"Federal Reserve Bank of New York President William C. Dudley said the central bank wants to keep mortgage interest rates from rising too much and may do more to hold down borrowing costs.

The Fed’s decision last month to reinvest proceeds from maturing housing debt into mortgage-backed securities was a “signal that we do have concern about the level of mortgage spreads,” Dudley said today. “Clearly we’ve indicated our interest in supporting the housing market” and keeping yields from “getting too elevated."

“We could move a degree more in that direction,” and policy makers “do care about the level of housing affordability,” Dudley said in response to audience questions after a speech at Fordham University in the Bronx, New York.

Dudley said after a second speech before the Bronx Chamber of Commerce that the Fed hasn’t “run out of bullets” and that it has additional stimulus options, including extending its commitment to keep interest rates low and embarking on a third round of asset purchases. Clearing away obstacles to stimulus would also make its record easing more effective, he said.

Fisher said today the Fed’s so-called Operation Twist, in which it swaps shorter-term debt with longer-maturity bonds to push down long-term rates, isn’t showing signs of succeeding.

“It’s not clear Operation Twist works,” Fisher said to reporters after a speech in Toronto. “The 10-year note is actually backed up, not gone down."

Har inte riktigt hängt med, men det är fortfarande onsdag som är stora beslutsdagen inom EU? Där kommer marknadsklimatet de kommande veckorna att sättas.

Occupy Amsterdam

Gick för en stund sedan förbi en tältsamling mitt i Amsterdam. Anade vad det var men visste inte säkert förrän jag såg denna Saab :)

måndagen den 24:e oktober 2011

Rickards och Turk

Ny intervju med Jim Rickards ute på KWN. Lyssna på den, det är så nära ett facit över nuvarande och kommande makroekonomiska konsekvenser som vi kommer. Det enda jag inte riktigt håller med Rickards om är hans syn på ett QE3. Hans syn är att ju att vi inte kommer att få se ett QE3 förrän Fed vill ha ned dollarn ytterliggare och nuvarande monetära policy inte längre stödjer en fortsatt nedgång (för att övriga valutor tillfälligt har ännu uslare fundamenta). Jag är dock inte så säker på det som ni vet och vi har ju redan nu sett två olika Fed-ledamöter proklamerat för mer QE i form av köp av MBS’er. Men, tills Rickards är motbevisad på den punkten så måste man ge honom ”the benefit of the doubt” så att säga. Dessutom är det nog första gången jag hört Rickards prata om en möjlig dollarkollaps.

James Turk har även skrivit en ganska intressant artikel på KWN;

The Gold Money Index

”The logic of the Gold Money Index is founded on one underlying principle – gold still is money. Things have value because of their usefulness, and gold’s value comes from its usefulness as money. It is money because the free-market makes it money. Consequently, governments cannot stop gold from having value, nor even stop gold moving in time from its present undervaluation to a fair valuation, which is presently over $11,000 per ounce.”

Ser ut att bli en positiv dag på marknaderna idag, riktningen de kommande månaderna sätts på onsdag. Håll hårt i guld och silver…

Bloomberg vs Reuters

Tur att de är överens :)

Morgonens rapporter om guldet följer.

Bloomberg:

Gold Declines as European Debt-Crisis Plan Curbs Demand for Haven Assets

Reuters:

Gold inches up on hopes for Europe debt deal

söndagen den 23:e oktober 2011

TSX-V

Humöret sätts av marknaden när den kommer med sin dom över EU's åtgärder mot skuldkrisen i euro-området. Om det blir ett positivt utfall så finns det utrymme för ett rejält rally bland råvarujuniorerna. Nu håller vi tummarna för att det äntligen är dags för ett ordentligt uppställ.

Nigel Farage talar klarspråk...

lördagen den 22:e oktober 2011

Eric Sprott

Eric Sprott: "Forces are at Work that can Move the Prices Down."

James Turk mfl och The Gold Report

Silver Summit Report: Three Investment Approaches to the Volatile Metal

"I believe that governments have been trying to cap the price of gold for a long time now. They allow the price of gold to rise just a little bit every year. In fact, through this decade the price of gold has risen about 17%–18% per annum on average. You can't cap the price of gold without also capping the price of silver. As a consequence, I think silver is also a part of this overall effort to keep the monetary metals from rising in price. They are the canary in the coal mine. When the price of gold or the price of silver rises, people understand that there are problems with the national currency and that, consequently, central banks aren't doing their jobs properly by preserving purchasing power of money. When we touched $50/oz. earlier this year, that was a clear sign that the attempts to keep the lid on the silver price have been falling apart.

There is another big difference between gold and silver. Gold is already in the second stage of its bull market. Every bull market has three stages. Stage one is apathy and neglect. Stage two is when you start seeing price appreciation. That is the longest stage, when more people become involved by purchasing the metal. The third stage is the speculative blowoff. Silver is still in stage one of its bull market even though gold is in stage two. Silver won't get into stage two with a lot more people coming into the market until it goes over $50/oz., which was the high in January 1980, the record all-time high price in silver. Inflation adjusted, that would be almost $500/oz. today. That really illustrates the debasement of the U.S. dollar over the past three decades."

The Great Silver Debate

Ny utformning

Sitter och leker lite...var trött på det blåa. Tycker det här ser lite mer "proffsigt" ut? Hur som, gamla mallen är sparad :)

Mer hintar om ett kommande QE3

Grekland får de 8 miljarder euro i nödlån som de behöver akut. Det som behövs är även ett IMF-godkännande. Olli Rehn pekar även på det jag skrivit om tidigare, dvs att nu gäller inga halvmesyrer. EU måste skicka ett betongfast budskap till marknaden i sitt slutliga "paket". Det måste vara stort och det måste vara kraftiga åtgärder. Det kommer oxå att mynna ut i mer pengatryckande så håll hårt i era PM-investeringar och sälj dem inte till vrakpriser. Håll i och öka på dippar. Det här kommer att vända och när det gör det kommer vi att få se kraftiga uppgångar igen. Tänk tillbaka hur "våra" aktier gick förra hösten. Vi står inför det igen. Vi har en mängd faktorer just nu som alla kommer att leda till en kraftig uppvärdering av silver, guld och dess aktier:

* Pengatryckning från ECB för att återkapitalisera bankerna
* Pengatryckning i USA i kommande QE3
* Utbudsbrister som blir värre och värre inom fysiskt silver och guld
* Globalt valutakrig där racet mot botten fortsätter

Nyckelhändelser:

Grönt ljus för åtta nya miljarder till Grekland

"Det är nödvändigt att vi inser att ingen uppstyckad lösning fungerar längre. Vi behöver ett omfattande paket med flera insatser, bland annat en hållbar lösning för Grekland, förstärkning av finansiella brandväggar relaterade till EFSF för att förhindra spridning, samt en samordnad insats för rekapitalisering av bankerna", sade Olli Rehn."

European Union Looks at 60% Haircuts for Greek Debt

"Greece’s economy has deteriorated so severely in the last three months that international lenders would have to find €252bn in bail-out loans through the end of the decade unless Greek bondholders are forced to accept severe cuts in their debt repayments.

The report also made clear European leaders are considering “haircuts” on Greek bonds far higher than previously known. The study determined that in order to bring a second Greek bail-out back to the €109bn agreed in July, bondholders would have to take a 60 per cent loss on their current holding."

QE3 kommer - allt mer tyder på det

Det kommer fler och fler hintar om ett kommande QE3 i USA nu. Senast från ännu en Fed-ledamot som även hon pratar om mer kvantitativa lättnader för att minska arbetslösheten. Bloomberg rapporterar:


Fed’s Yellen: QE3 May Be Warranted

"Federal Reserve Vice Chairman Janet Yellen said a third round of large-scale securities purchases might become warranted if necessary to boost a U.S. economy challenged by unemployment and financial turmoil.

The central bank should also give “careful consideration” to Chicago Fed President Charles Evans’s proposal to tie the near-zero interest-rate pledge to specific levels of unemployment and inflation, Yellen said today in a speech in Denver.

The remarks signal Fed officials may be prepared to delve further into unprecedented monetary territory and take criticism inside and outside the central bank for expanding the balance sheet. Fed policy makers are struggling to lower unemployment that’s been stuck near 9 percent or higher for 30 months without boosting inflation that’s already close to the central bank’s long-run goal.

"Securities purchases across a wide spectrum of maturities might become appropriate if evolving economic conditions called for significantly greater monetary accommodation,"

The U.S. recovery is “disappointingly slow,” which leaves the economy “vulnerable to downside shocks,"

Jim Rickards - Western Gold Policy Threat to National Security


"China is a jump phenomena where you don’t hear about them for a year and then all of the sudden they print 500 tons. You know what’s going on behind the scenes, so I don’t blame them for doing that. But what is the West thinking? So every time the market smashes gold I say, ‘Thank you’ because I just buy more at a better level."

London Trader - Sovereign Silver Buying, Middle-East Shortages

"The price of silver has no reality to the paper market at all, absolutely zero reality there anymore. There is extraordinarily tight supply right now in Asia. When you order silver there is so little available at these prices, that’s the trouble. You can order it all day long, but you are going to have to wait for it."

"The tightness in the market is the reason why when the Chinese buy massive tonnage of silver they have a long wait to receive physical delivery. The end users are in line in front of them. So now the silver market is on a razor’s edge because they are trying to make sure the industrial users get their silver, otherwise all hell breaks loose."

India's gold and silver imports jump 80% to $31.1bn over six months


"Volatility in share markets in India have seen investors switching over to less risky assets like bonds and mutual funds, with a flood of money also pouring into precious metals.

MUMBAI - Investors in India appear to be moving out of cash and into gold and silver. As poorly performing equities hit valuations, analysts and traders insist there is an acceleration in the investing community to asset switch into precious metals.

Both the precious metals, gold and silver, recovered sharply in the domestic market on Friday, on fresh buying by stockists and jewellers here. While the yellow metal surged $7.49 to $538.47 for 10 grams, silver rose by around $7.99 to $1051 per kilo."

Intervjuer

KWN Weekly Metals Wrap

Ben Davies
John Embry
Rick Santelli
Veckans Goldseek Radio

Trevlig lördag!

fredagen den 21:e oktober 2011

Billiga guldaktier

Adam Hamilton på Zeal var spot on för några veckor sedan i "Hyper-Oversold Markets" när han tvärtemot alla permabears där ute spådde en rebound. Det var precis vad vi fick. Zeal är duktig, riktigt duktig. Läs vad han har att säga i senaste artikeln:

Cheap Gold Stocks

"The anxiety-driven gold buying in July and August was enormous, driving an unprecedented 27.4% summer gold surge in just 7 weeks! But the gold stocks lagged well behind, the HUI only rallied 17.9% over this span which dragged the HGR even lower. The day gold peaked in late August, the HGR was back under 0.32x. This was near the lowest levels the gold stocks had traded relative to gold since March 2009, right after emerging out of the secondary stock-panic lows.

Torn in August between following gold higher and the stock markets lower, the gold stocks couldn’t leverage gold’s big gains. And unfortunately for this metal, it had simply rallied too far too fast. As I warned the trading day before it topped, gold was extremely overbought and due to correct hard. On top of that, the fear and anxiety from the sharp stock correction that had fueled gold’s blistering ascent were already fading.

As expected, gold indeed plunged in September. While it had been drifting lower for a month after getting so overbought, it fell sharply after the Federal Reserve failed to launch a third inflationary quantitative-easing campaign. The next morning some economic data out of China was misinterpreted which scared commodities traders into assuming the Chinese economy was slowing dramatically. Though not true, all commodities and commodities stocks were dumped aggressively in a brutal bloodbath.

And once again as usual, the HUI still amplified gold’s downside despite failing to participate in its rare summer upside. So again the HGR was driven down to March 2009 levels, among the cheapest in gold stocks’ entire secular bull. While this gold-stock selling was perfectly understandable psychologically, traders were scared, it made zero sense fundamentally. Even after correcting, gold above $1600 remained at wildly-profitable levels to mine that were never even seen before mid-July!

So gold stocks are extraordinarily cheap relative to the price of gold today. We haven’t seen anything like this since the stock panic, an incredible time to snatch up unloved gold stocks at dirt-cheap prices. That previous stock-panic anomaly of low gold-stock prices was quickly reversed with a massive HUI upleg in 2009 that far outpaced the underlying gains in gold. Given the fact that such low HGR levels were never seen before the panic, and they couldn’t persist after it, odds are today’s anomaly won’t last long either."

Om ECB och EU printar över problemen i euro-området genom att buffra upp EFSF-fonden till 1.3-2 TEUR, så kan vi nog få ett trevligt PM-rally de kommande veckorna.

Hörde jag QE-3..?

Nu börjar det läggas ut hintar om nästa omgång kvantitativa lättnader. Bloomberg rapporterar;

Fed Should Resume Mortgage Purchases: Tarullo

"Federal Reserve Governor Daniel Tarullo’s call for resuming large-scale purchases of mortgage bonds may boost chances the central bank will start a third round of asset buying aimed at reviving U.S. growth.

Policy makers should move the tool “back up toward the top of the list” because it would help the economy through lower mortgage costs that would boost home purchases and spending by people who refinance their home loans, Tarullo said late yesterday in a speech in New York."

"The Federal Open Market Committee is considering increasing its record stimulus to spur the recovery and bring down an unemployment rate stuck near 9 percent for 30 months. Other options under consideration including tying the near-zero interest-rate pledge to specific levels of economic data such as inflation and unemployment, minutes of last month’s meeting showed. The FOMC next meets in Washington Nov. 1-2 and Dec. 13.

“Without more, the harm to the unemployed and their families continues, and the risks of longer-term harm increase - - both to the unemployed and to the country as a whole,” Tarullo said. - där har ni nyckeln, arbetslösheten måste ned. Därför kommer det att komma mer lättnader.

Tarullo, 58, is the first policy maker to publicly and explicitly call for the resumption of purchases of mortgage securities, such as those carried out by the central bank from January 2009 through March 2010 to combat the recession."

"Bullard told reporters yesterday in St. Louis that securities purchases would be “our most potent action, and I would not rule out QE if there were further deterioration in the U.S."

"Drew Matus, senior U.S. economist at UBS Securities LLC in Stamford, Connecticut, said Tarullo’s talk is in line with Matus’s forecast that the eventual next step for the Fed will be a third round of asset buying totaling $1 trillion to $1.5 trillion of Treasuries and MBS over six to nine months."

"The public may get more clarity on the FOMC’s options soon. Vice Chairman Janet Yellen is scheduled today to give a talk on monetary policy in Denver, while New York Fed President William Dudley, who serves as FOMC vice chairman, speaks Oct. 24 on the economy in the Bronx, New York."

Peptalk

London Trader - China Bought Massive Amount of Gold Today

"They (the Asians) are aware of how tight physical supply is and they buy in London towards the fix because they know there is an 80% chance the commercials will take it down and they will get a better price. The Asians sit there and say, ‘Bring it on because we’ve got some orders to fill.’ They just want out of their dollars.

The Chinese bought a massive amount of physical today at the lows and that is why the market turned where it did because of the intensity of Chinese buying."

John Hathaway - Gold Price Will Soar on Failed Manipulation

"When asked if the physical demand will overwhelm the manipulation efforts, Hathaway stated, “Yeah, any sort of attempt to hold back the market sooner or later falls apart. I mean we saw that with the London Gold Pool in the late 1960’s. So you can keep the market off balance for a while, but you can’t do it forever and the longer the move is put off, the bigger the explosion on the upside."

Russian Central Bank to carry on buying gold for its reserves

"The Russian central bank's First Deputy Chairman Alexei Ulyukayev said Thursday the bank will continue raising the share of gold in its gold and foreign exchange reserves for the foreseeable future."

När det uppstår arbitragehandel i guld

-mellan olika marknadsplatser, ja då inser man att allt inte står rätt till på Crimex. Reuters rapporterar:

Gold edges up on arbitrage buying

"(Reuters) - Gold prices rebounded on Friday, boosted by arbitrage buying interest from Shanghai market, but gains could be limited as uncertainty remains on whether European policymakers would agree on a definitive solution to euro zone's debt crisis."

Fysiska efterfrågan väller som en tsunamivåg över asiens handelsplatser för guld och silver. På Crimex däremot rear de ut papperslappar...

Det kan bäst beskrivas med: ett skämt.

Jag tror vi kommer närmare och närmare ett riktigt event på Crimex eller LBMA, dvs någon form av default där de inte kan leverera det fysiska silver eller guld som någon större aktör begär leverans på. Håll er undan ETF'en GLD.

torsdagen den 20:e oktober 2011

It's Time to Buy Gold Mining Stocks

Hang in there, det kommer vända, även om det inte känns som det nu.

It's Time to Buy Gold Mining Stocks

"Gold Mining Stocks Under-Owned

TIS also points out gold mining stocks are under-owned. The total value of all gold mining shares in the world is about $240 billion, but less than 1% of all global pension fund assets hold gold or gold stocks.

If market conditions persuade them to double their weighting in gold shares, it would cause $300 billion in new buying that would leave shares in shortage.

You may be surprised to learn that most pension funds and individuals have not been investing in gold mining stocks or the metal itself, even though gold has been the trade of the millennium. With short rates at near zero, and "real rates" (bond yields minus inflation) under zero, gold’s lack of a dividend -- a major consideration for fund managers -- becomes less of an issue."

Och som vanligt, det som appliceras på guldaktier kan även appliceras på silveraktier, fast med hävstång.

Läs allt Davies ni kommer över

En av tre som jag rankar högst. De andra två är Don Coxe och Jim Rickards. Alla tre fullkomligt briljanta marknadsobservatörer och makroekonomer.

Ben Davies - Resetting of Gold in the Monetary System

"We are merely going through a rerating, a resetting of gold in the monetary system. We are going to continue to trade higher over the next couple of months. I believe we will have a look at the $2,000 level as I think there is a lot that can go wrong in the system which could have an impact on the gold market. I think the paper side has cleared already which means the next move will be to higher prices."

Håll utkik i inboxen ikväll för lite nytt material.

Alla ögon är fortsatt på EU

Alla väntar på EU och dess "paket" för att stoppa skuldkrisen i euro-området. Innan dess kan vi inte räkna med någon form av marknadsriktning, utan det blir fortsatt ryktesdrivet. Så fort någon politiker vädrar munlädret så kommer marknaden att väga varenda stavelse som lämnar läpparna och reagera därefter. Så, alla ögon på EU. Troligen får vi en rejäl ökning av EFSF-fonden vilket i princip kommer att vara Europas svar på mer QE. En haircut för de som håller grekiska lån kan vi nog räkna med oxå (50%?). Så, fortsatt volatilitet väntas med marknader som kastas hit och dit tills vi har en klarhet i euro-skuldkrisen-situationen. Ett rally i aktiermarknaderna och PM kommer att ske i samband med en euro-förstärkning mot dollarn.

Stephen Leeb - World Money Supply Tied to $10,000 Gold Bow

"The ratio of gold to the gross world’s product (GWP) today is on the low side. If you look at gold relative to what it was at the peak in 1980 you get to $10,000 gold. No matter what metric you look at be it monetary base, S&P 500, gross world product, money supply, gold turns out to be remarkably undervalued."

You put these pieces together and tie a bow around it, it’s a golden bow no matter how you look at it. I think that $1,600, $1,500, $1,700 gold, it really doesn’t matter, gold is going to add another digit over the next five to ten years there is very little doubt about that.

You treat gold as a currency and you ask, ‘How much currency do you need to supply the world with enough currency?’ If you set your benchmark at the previous high in 1980, you get $10,000 gold or higher."

KWN Special: Dollar Devaluation Coming, Gold to be Revalued

"We figured you should take the monetary base and divide it by official gold holdings. That would give you the price in terms of monetary inflation that it would be worth today. Coincidentally, after we came up with that theory we went back and looked at what they used to use, the formula for arriving at the Bretton Woods dollar exchange value with gold at $35 and it was the same formula. So if you were to divide base money by official gold holdings today, after QE2, you would come up with a price just north of $10,000 an ounce."

Silver COT Most Bullish in Eight Years

COT-data skriker köp i silver. Den totala kortpositionen är nu lägre än när silver hade kraschats 2008 till 8-9 dollar/oz i samband med finanskrisen. Vi är nere på nivåer som inte sett sedan silver var 4-5 dollar (!) för 8 år sedan...

Läs hela artikeln och titta på graferna. Det har alltid kommit rejäla rallyn efter de här extrema nivåerna i COT. Den här gången startar vi dessutom från en ganska hög nivå jämfört med de tidigare gångerna. 50 dollar silver kan komma tillbaka fortare än många anar.

Special GGR Excerpt – Silver COT Most Bullish in Eight Years

"with silver near the $32 mark, we are currently very near the lowest commercial net short position for silver futures since the bull market began in 2003. As of Tuesday (and as of the prior Tuesday), COMEX futures veterans the CFTC classes as “commercial,” including the bullion banks and the Swap Dealers combined are not positioned as though they believe that silver has very much downside action left in it.

Amazingly, five reporting weeks ago the silver LCNS:TO reached 41.7%, the highest LCNS:TO of the year, with silver then in the $42 arena. We’ve wiped out roughly $10 or, call it 23.5% in price since then, but goodness, look at the huge, enormous, historic net 26,478-contract (56%) get-out of the short-side of silver futures by the Big Sellers as a group since then (no matter if part of that is because one class of commercial traders went net long in a big way – it counts, brothers and sisters). That has the LCNS:TO down to levels not seen since silver traded under $5.00 (actually under $4.50) the ounce eight years ago!

However one wants to look at it, and regardless of what silver does very short term in the days and weeks just ahead, the graphs above are screaming at the top of their lungs like a bullish klaxon. The graphs tell a tale of longer-term opportunity with a high degree of confidence."

onsdagen den 19:e oktober 2011

Aurcana

Aurcana har lanserat en ny hemsida. Det finns bra info där och man kan följa hur Shafter utvecklas mot produktion.


Every Silver Pullback Is A Gift - Mike Maloney

Dags att lära sig mandarin

Kineserna tar över.

Initial Hong Kong yuan gold trades seen at premium to dollar price

Hong Kong's average daily gold transactions at 10 million ounces are set to get a boost with the introduction of the Renminbi Kilobar Gold, with transactions expected to cross 100 million yuan per day surging to 300 million yuan over the next six months, say bankers.

"The Chinese Gold and Silver Exchange Society launched the gold contract, which has been appropriately named the renminbi kilobar gold. Another banker said investors could use US dollars to buy the contract.

On the very first day, reports indicate yuan gold contracts amounting to a total of 322 kilogram were traded, with the settlement price set at 346.95 yuan per gram, or US$ 1,693.9 an ounce - a significant premium on U.S. and European prices.

Some forex dealers are of the opinion that the yuan will become a dominant force in international financial markets over the next three years and rival the dollar, euro and yen.

Meantime, China has formalised a rule to allow foreign direct investment (FDI) in the renminbi legally obtained overseas, as it moves to further internationalise its currency. The scheme aims at promoting trade and investment by expanding cross-border use of the Chinese currency and supporting the development of the renminbi market in Hong Kong.

Even as it boosts gold trading volumes in the island city, the new service is expected to see a turnover of between 100 million and 300 million yuan in the immediate future.

With bullion prices jumping 19% this year, reaching a record $1,921.15 an ounce on September 6, traders said the move would further develop Hong Kong as a logistics hub and gold trading centre, alongside the gold depository at the Hong Kong International Airport."

Viktiga artiklar och nyheter

France and Germany ready to agree €2tn euro rescue fund

"Leaders of France and Germany aim to calm market fears before G20. France and Germany have reached agreement to boost the eurozone's rescue fund to €2tn (£1.75tn) as part of a "comprehensive plan" to resolve the sovereign debt crisis, which this weekend's summit should endorse, EU diplomats said."

John Embry - Gold & Silver Close to Taking Off

"So much of this volatility has been created by this ridiculous paper trading on COMEX, I mean each time that this thing gets smashed, the premium on physical rises. So I think we are getting real close to this thing taking off. These continued raids, these paper raids on gold that knock the price down, it just makes it that much easier for the Chinese to buy gold at a bargain price and they are doing it."

Michael Pento - Own Gold, The Fed & ECB Have Gone Rogue

"These central banks will do what they do best which is to counterfeit their own currency. We saw an example of that today. The gold market is aware that there isn’t 2 trillion euros worth of savings in the Eurozone that can be borrowed. So as gold rallied well off the lows today it was saying the solution will be to print and devalue all fiat currencies. The anticipation of this future printing was driving investors on both sides of the Atlantic into gold."

Commodity-Speculation Limits Approved in 3-2 Vote by U.S. Regulator CFTC

"The top U.S. derivatives regulators voted 3 to 2 today to curb trading in oil, wheat, gold and other commodities after a boom in raw-materials speculation, record- high prices and years of debate and delay.

The rule has been among the most controversial provisions of the Dodd-Frank financial overhaul, enacted last year, which gave the Commodity Futures Trading Commission the authority to limit trading in over-the-counter commodity swaps as well as exchange-traded futures. The rule will limit the number of contracts a single firm can hold.

The rule limits traders to 25 percent of deliverable supply in the month nearest to delivery. The spot-month limits apply separately to physically settled and cash-settled contracts. Deliverable supply will be determined by the CFTC in conjunction with the exchanges."

UK Inflation Rises Again to 5.2% - Ultra Loose Monetary Policy May Lead to Stagflation

"UK inflation rose to match a record high of 5.2% (CPI) and retail price inflation (RPI), a measure of the cost of living used in wage negotiations, accelerated to 5.6% (from 5.2%), the highest since June 1991.

The figures were again worse than expected by the BoE, economists and many economic experts who have been underestimating the threat of inflation for some time.

The BoE, like the Federal Reserve, continues to follow an ultra loose monetary policy in an effort to boost an economy teetering on the brink of a double dip recession.

The UK appears to be entering stagflation with declining economic growth and stubbornly high inflation seeming increasingly likely. Whether stagflation becomes as intractable and long lasting as was seen in the 1970’s remains to be seen but it would be foolish to completely ignore the risk of stagflation – both in the UK and in most debt saturated western economies."

Allana fortsätter träffa rätt

Mark my words, Allana kommer att bli uppköpta till slut. Resursen bara växer och växer...

Allana Potash Drilling Intersects Significant Potash of 40% KCL Over 2.6 Metres in Hole 28

- Hole 28 Intersects Two Prominent Zones of Potash Mineralization
- Hole 28 Intersects 40% KCL Over 2.6 Metres of Sylvinite
- Hole 28 Intersects 22% KCL Over 8.4 Metres of Kainitite

"TORONTO, ONTARIO--(Marketwire - Oct. 18, 2011) - Allana Potash Corp. (TSX:AAA - News; OTCQX:ALLRF) ("Allana" or the "Company") is pleased to announce that it has intersected three zones of strong potash mineralization in Hole DK-11-28 ("Hole 28"). Hole 28 is located in the northwestern portion of the concession block and was targeted to test potash mineralization west of Hole 15. Hole 28 intersected a strong Sylvinite Zone at a depth of 198.8 metres which yielded 40.27% KCl over 3.56 metres. A robust Kainitite Zone was also intersected deeper in the hole at a depth of 266.43 metres and returned 21.98 % KCl over 8.39 metres.

Farhad Abasov, President and CEO, commented: "Allana continues to be encouraged by the continuity and strength of potash mineralization in the northwestern portion of the property as exhibited by the results of Hole 28. This area continues to yield high grade potash in the Sylvinite and Kainitite zones which management believes will allow Allana to upgrade mineral resources from Inferred to Measured and Indicated categories as well as add to the Inferred category. The potash zones remain open to the north and northeast towards Hole 9 which bodes well for expansion of the resource. The relatively shallow and high grade nature of the Sylvinite Zone make this area ideal for solution mining with recovery through solar evaporation."

tisdagen den 18:e oktober 2011

Det händer grejor ikväll

1) Fed snackar om att ha "flexibla inflationsmål".

2) CFTC har röstat igenom position limits för futures (!) vilket bör tvinga JPM att täcka sin gigantiska kortposition i silver. Inom 3 månader ska regeln vara implementerad.

Och nu detta:

3) Frankrike och Tyskland är överens om att utöka räddningsfonden till 2000 miljarder euro. Detta väntas röstas igenom på helgens toppmöte.

Det här kan vara starten på rallyt jag skrivit om ett tag nu. Tre positiva saker för börser och råvaror. Osvuret är dock som vanligt bäst...

Rickards gör det igen

Killen är fenomenal och det närmaste ett facit på kommande Fed-manövrar vi kommer.

Bloomberg rapporterar från Bernankes tal ikväll:

"While the Federal Reserve lacks a “formal, numerical inflation target,” its policies have “many of the elements of flexible inflation targeting,” Bernanke said.

“Like flexible inflation targeters, the Federal Open Market Committee is committed to stabilizing inflation over the medium run while retaining the flexibility to help offset cyclical fluctuations in economic activity and employment.”

Översättning: Vi kan skita i att inflationen drar iväg så länge som vi uttalat har ett långt mål om att få ned inflationen...

Policy makers’ long-run inflation projections are “analogous” to targets even though they aren’t a “formal inflation goal of the Committee as a whole,” Bernanke said."

Bered er på högre inflationsmål från Fed. Grymt bullish för guld och silver förstås.

Must see! Must read!

Stående inlägg på bloggen som kommer att fyllas på med "must see" och "must read" material.

Följande föredrag av Mike Maloney är förstås givet. En ren uppvisning och upplysning om vårt ekonomiska system.



En till mycket bra Maloney-video.



Jim Rickards "upplyser" programledarna på CNBC om guld



Jim Rickards i en 8 delar långa föreläsning om ekonomi och nationell säkerhet.

















Ben Davies i en fantastisk intervju hos Chris Martenson.

Pallar ni vollan?

Pallar ni vollan? Det skulle vara intressant att veta hur många som har gett upp efter 10 månaders Gulag. Tycker det nästan blir värre och värre. Börserna kan starta dagarna med uppgångar på 2% över linjen, bara för att vända till -2% någon timme senare efter att någon politiker vädrat munnen lite. Svängningar på 2-3% hör till vardagsmat och jag har full förståelse för att folk kastar in handduken och kallar det kasino.

Hur går det för er då kära läsare? Är det någon av er som kastat in handduken än? I så fall har jag full förståelse för det, för det här är inte en normal marknad. Om vi ser till PM-aktierna så har vi ju nu haft 9-10 månaders rekyl och det kan test tålamodet på den bäste. En sak är säker, det är endast de med full övertygelse om var vi är på väg som kommer att orka härda ut. Jag tror många redan har gett upp. Men det är precis vad bullmarketen alltid försöker göra. Den skakar alltid av sig så många som möjligt, det är så det fungerar. Svaga händer lämnar och endast de starka händerna är kvar. Min inställning vet ni, jag är fast besluten sedan länge att rida den här bullmarketen många år till mot långt högre nivåer. Jag tror mig inte kunna sälja på toppen, därför kommer ni att vid något läge se mig börja reka vinsthemtagningar på vägen upp. Men än är vi förstås långt ifrån några vinsthemtagningar, men det kommer att komma. Kanske fortare än många anar. Skriv gärna en rad och berätta hur det går för er, om ni har gett upp, eller om ni köper mer alternativt sitter kvar etc.