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MMgys Du Jour News Zone



Good Morning Ladies & Gentleman


~Welcome To



~*~Mining & Metals Du Jour~*~ Graveyard Shift~


Glad To Have You With Us ! Hope You EnJOY

Starting out with Harvey Organ Excellent Data

Thanks Harvey for thinking of us during your vacation

We Love You Man!

MMgys

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October 6, 2016 · by Harvey Organ · in Uncategorized · 6 Comments

Gold $1253.00 down $9.00

Silver 17.30 down 25 cents

THE DAILY GOLD FIX REPORT FROM SHANGHAI AND LONDON

.

The Shanghai fix is at 10:15 pm est and 2:15 am est

The fix for London is at 5:30 am est (first fix) and 10 am est (second fix)

Thus Shanghai’s second fix corresponds to 195 minutes before London’s first fix.

And now the fix recordings:

Shanghai morning fix Oct 3 (10:15 pm est last night): $ holiday

NY ACCESS PRICE: $

Shanghai afternoon fix: 2: 15 am est (second fix/early morning):$ holiday

NY ACCESS PRICE:

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

London Fix: Sept 30: 5:30 am est: $1265.50 (NY: same time:1265.70 $: 5:30AM)

London Second fix Sept 30: 10 am est: $1254.50 (NY same time: $1254.50 , 10 AM)

It seems that Shanghai pricing is higher than the other two , (NY and London). The spread has been occurring on a regular basis and thus I expect to see arbitrage happening as investors buy the lower priced NY gold and sell to China at the higher price. This should drain the comex.

Also why would mining companies hand in their gold to the comex and receive constantly lower prices. They would be open to lawsuits if they knowingly continue to supply the comex despite the fact that they could be receiving higher prices in Shanghai.

end

For comex gold:

the total number of notices filed today : 212 for 21200 oz (.92 tonnes)

For silver:

for the Oct contract month: 4 notices for 20,000 oz.



Let us have a look at the data for today



.

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In silver, the total open interest fell by 3986 contracts down to 194,811. The open interest fell as the silver price was down 55 cents in yesterday’s trading .In ounces, the OI is still represented by just less THAN 1 BILLION oz i.e. .9740 BILLION TO BE EXACT or 139% of annual global silver production (ex Russia &ex China).

In silver for October we had 4 notices served upon for 20,000 oz

In gold, the total comex gold FELL by a whopping 21,424 contracts as the price of gold fell by $3.30 yesterday . The total gold OI stands at 523,399 contracts. The bankers have done a great job fleecing longs and as usual the entire gold comex OI obliterates

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With respect to our two criminal funds, the GLD and the SLV:

GLD

LAST NIGHT WE HAD NO CHANGES OUT OF THE GLD//

Total gold inventory rests tonight at: 949.65 tonnes of gold

SLV

we had no changes at the SLV

THE SLV Inventory rests at: 360.292 million oz

.

First, here is an outline of what will be discussed tonight:

1. Today, we had the open interest in silver fell by 3,986 contracts down to 194,811 as the price of silver fell by 55 cents with yesterday’s trading.The gold open interest FELL by 21,424 contracts DOWN to 523,399 as the price of gold fell $3.30 IN YESTERDAY TRADING.

(report Harvey).

2.a) The Shanghai and London gold fix report

(Harvey)



2 b) Gold/silver trading overnight Europe, Goldcore

(Mark O’Byrne/zerohedge

and in NY: Bloomberg

end



SOMEBODY BIG IS GOING AFTER PHYSICAL GOLD AT THE COMEX
Let us head over to the comex:

The total gold comex open interest FELL BY 21,424 CONTRACTS to an OI level of 523,399 the as price of gold fell by $3.30 with yesterday’s trading.

The contract month of Sept is now off the board. The next delivery month is October and here the OI lost 1301 contracts down to 386. We had 1338 notices filed on yesterday so we gained 37 notices or an additional 3700 oz will stand

The next delivery month is November and here the OI fell by 50 contracts up to 2935 contracts. The next contract month and the biggest of the year is December and here this month showed an decrease of 17,049 contracts down to 405,722.
Today we had 252 notices filed for 25,200 oz of gold.(0.677tonnes)
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And now for the wild silver comex results. Total silver OI FELL BY 3,986 contracts from 198,747 down to 194,811 as the price of silver fell to the tune of 55 cents yesterday. We are moving further from the all time record high for silver open interest set on Wednesday August 3: (224,540). The next non active delivery month is October and here the OI fell by 12 contracts down to 85. We had 27 notices filed on yesterday so we gained 15 contracts or 75,000 additional oz will not stand for delivery.The November contract month saw its OI fall by 1 contracts down to 358. The next major delivery month is December and here it FELL BY 4144 contracts DOWN to 162,717.

today we had 27 notices filed for silver: 135,000 oz
\
INITIAL standings for OCTOBER
Oct 4.
Gold
Ounces
Withdrawals from Dealers Inventory in oz NIL
Withdrawals from Customer Inventory in oz nil
xxxx
Deposits to the Dealer Inventory in oz nil oz
Deposits to the Customer Inventory, in oz
xxx oz
No of oz served (contracts) today
252 notices
25200 oz
(0.677 tonnes)
No of oz to be served (notices)
134 contracts
13,400
oz
Total monthly oz gold served (contracts) so far this month
7783 contracts
778,300 oz
24.205 tonnes
Total accumulative withdrawals of gold from the Dealers inventory this month oz
Total accumulative withdrawal of gold from the Customer inventory this month 96.45 oz
i cannot do inventory levels. they will continue when i return next week.
Today; very xxx activity at the gold comex and xxx kilobar entries
We had xxx dealer deposit:
Total dealer deposits; xxxx oz
We had xxx dealer withdrawals:
total dealer withdrawals; xxx oz
we had xxx customer deposit:
Total customer deposits: xxxx oz.
We had 0 customer withdrawals:
total customer withdrawals: xxx oz
Today we had 0 adjustments:
Note:
If anybody is holding any gold at the comex, you must be out of your mind!!!
since comex gold storage is unallocated , rest assured any gold stored at the comex will be compromised!
I also urge all of you do not place any option trades at the comex as these gangsters will gun you down.
If you are taking delivery of gold/silver please remove it from comex banks and place it in private vaults
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For October:

Today, 0 notices were issued from JPMorgan dealer account and 0 notices were issued form their client or customer account. The total of all issuance by all participants equates to 252 contract of which 4 notices were stopped (received) by jPMorgan dealer and 109 notice(s) was (were) stopped received) by jPMorgan customer account.
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To calculate the initial total number of gold ounces standing for the Oct contract month, we take the total number of notices filed so far for the month (7783) x 100 oz or 778,300 oz, to which we add the difference between the open interest for the front month of OCT (386 contracts) minus the number of notices served upon today (252) x 100 oz per contract equals 791,700 oz, the number of ounces standing in this NON active month of September.

Thus the INITIAL standings for gold for the SEPT contract month:
No of notices served so far (7783) x 100 oz or ounces + {OI for the front month (386) minus the number of notices served upon today (252) x 100 oz which equals 791,700 oz standing in this non active delivery month of Oct (24.625 tonnes).
we gained 3700 oz that will stand for delivery.
Total dealer inventor 2,311,300.256 or 71.89 tonnes
Total gold inventory (dealer and customer) =10,572,568.400 or 328.85 tonnes

Several months ago the comex had 303 tonnes of total gold. Today the total inventory rests at 328.85 tonnes for a gain of 26 tonnes over that period. However since August 8 we have lost 25 tonnes leaving the comex.(corrected total from yesterday and today)
Ladies and Gentlemen: the comex is beginning to lose some of its gold as no doubt the Shanghai fix is having its effect.
The gold comex is an absolute fraud. The use of kilobars and exact weights makes the data totally absurd and fraudulent! To me, the only thing that makes sense is the fact that “kilobars: are entries of hypothecated gold sent to other jurisdictions so that they will not be short with their underwritten derivatives in that jurisdiction. This would be similar to the rehypothecated gold used by Jon Corzine.ALSO TODAY THE LIQUIDATION OF 96 CONTRACTS HAVING STOOD FOR THE ENTIRE MONTH AND THEN ROLLING MAKES ABSOLUTELY NO SENSE

IN THE LAST MONTH and one half , 25 NET TONNES HAS LEFT THE COMEX.
end
\
And now for silver

OCT INITIAL standings
Oct 4. 2016
Silver
Ounces
Withdrawals from Dealers Inventory NIL
Withdrawals from Customer Inventory
xxx oz
xxxx
Deposits to the Dealer Inventory
xx OZ
Deposits to the Customer Inventory
xx oz
No of oz served today (contracts)
4 CONTRACTS
(20,000 OZ)
No of oz to be served (notices)
81 contracts
(405,000 oz)
Total monthly oz silver served (contracts) 344 contracts (1,760,000 oz)
Total accumulative withdrawal of silver from the Dealers inventory this month NIL oz
Total accumulative withdrawal of silver from the Customer inventory this month 420,010.27 oz
today, we had xxx deposit into the dealer account:
total dealer deposit: xx oz
we had xxx dealer withdrawals:
total dealer withdrawals: xxx oz
we had 0 customer withdrawals:
Total customer withdrawals: nil oz
We had xxx customer deposit:
total customer deposits: xxx oz



we had xx adjustments
The total number of notices filed today for the Oct contract month is represented by 4 contracts for 20,000 oz. To calculate the number of silver ounces that will stand for delivery in OCT., we take the total number of notices filed for the month so far at
344) x 5,000 oz = 1,760,000 oz to which we add the difference between the open interest for the front month of OCT (85) and the number of notices served upon today (4) x 5000 oz equals the number of ounces standing

Thus the initial standings for silver for the OCT contract month: 344(notices served so far)x 5000 oz +(85 OI for front month of SEPT ) -number of notices served upon today (4)x 5000 oz equals 2,165,000 oz of silver standing for the OCT contract month. THIS IS STILL A HUGE SHOWING FOR SILVER AS OCTOBER IS GENERALLY A VERY WEAK DELIVERY MONTH. We gained 75,000 additional silver ounces THAT WILL STAND.

Total dealer silver: 30.362 million (close to record low inventory
Total number of dealer and customer silver: 173.321 million oz
The total open interest on silver is NOW close to its all time high with the record of 224,540 being set AUGUST 3.2016. The registered silver (dealer silver) is NOW NEAR multi year lows as silver is being drawn out at both dealer and customer levels and heading to China and other destinations. The shear movement of silver into and out of the vaults signify that something is going on in silver.
end
GLD remains a 947.63 tonnes/NO CHANGE/ wow
SLV: lowers to 360.292 million oz/ WE zero OZtelll
that tells you something
BIG STORIES
DB is dumped as the DOJ denies any settlement talks.
(courtesy zero hedge)
Deutsche Bank Dumped On Heavy Volume As German Government Denies Talks With US DOJ

In addition to 100s more job cuts, Deutsche Bank stock is tumbling on the back of Bloomberg reports thatthe German government isn’t in talks with the U.S. Department of Justice over Deutsche Bank.

There are no talks taking place with the DoJ, German government official says on customary condition of anonymity
German government has always made clear that this is about talks between the U.S. authorities and Deutsche Bank: official

And the reaction is a heavy volume dump…



Is the short-squeeze stock party over?



If Cryan comes home empty-handed, Germany is going to need another bank holiday on Monday.



end

The ECB officially denies a report that they will taper. Of course their major problem is that they are running out of bonds to buy
Stocks Spike Green After Constancio Denies Report ECB “Near Taper Consensus”

see zero hedge for the story\

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Torgny Persson: How high would gold go if fractional-reserve gold
banking failed?


Submitted by cpowell on Mon, 2017-08-07 18:07. Section: Daily Dispatches

2:06p ET Monday, August 7, 2017

Dear Friend of GATA and Gold:

Bullion Star's Torgy Persson today speculates about where gold prices would go under some fairly conventional ratios if investors ever lost confidence in the fractional-reserve gold banking system, where nearly infinite gold claims are supported by just a tiny amount of metal. Persson's analysis is headlined "Gold Price $65,000/oz in 5 Years?"

https://www.bullionstar.com/blogs/bullionstar/gold-price-usd-65000oz-in-...

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Payment in gold bullion banned in UK under new policy against tax evasion


Submitted by cpowell on Mon, 2017-08-07 22:17. Section: Daily Dispatches

Such a policy might be more problematic if applied in the United States and Canada, where, for reasons not entirely clear, government-issued gold and silver coins are imprinted with face values far below their metal values.

* * *

Payment in Gold Bullion Banned Under New Law to Combat Tax Evasion

By Rupert Neate
The Guardian, London
Monday, August 7, 2017

Companies will no longer be able to pay employees their salaries in gold bullion in the first use of a new law designed to combat "morally repugnant" tax-avoidance schemes.

An expert tax-avoidance panel has ruled that paying employees in gold is a "contrived" tax avoidance scheme designed to "frustrate the intent of Parliament" in cracking down on such practices.

It is the first application of the general anti-abuse rule panel since it was introduced by former chancellor George Osborne in 2013 as part of a package of measures to tackle tax evasion.

The ruling means Her Majesty's Revenue and Customs will be able to take action against both companies and employees seeking to take advantage of the "artificial and abusive" gold bullion schemes.

HMRC said accountants had created schemes designed to "disguise remuneration to individuals through paying them via a series of transactions buying and selling an asset, commonly gold bullion."

"They have a theoretical obligation to pay the value of the asset to a trust at some point in the future -- it is claimed that this obligation makes the payment non-taxable. However, in instances seen by HMRC so far, the individual has actually taken cash, thus supporting the HMRC view this is a payment of earnings." ...

... For the remainder of the report:

https://www.theguardian.com/politics/2017/aug/07/payment-in-gold-bullion...

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For Russia, reducing dependence on U.S. dollar is a matter of security



Submitted by cpowell on Mon, 2017-08-07 23:34. Section: Daily Dispatches

From RIA / Novosti, Moscow

Monday, August 7, 2017

https://ria.ru/radio_brief/20170807/1499912983.html

The Russian Foreign Ministry said Russia can reduce the economy's dependence on the U.S. dollar and the U.S. monetary and financial system in response to U.S. sanctions. Work in this direction is already underway, monetary affairs expert Alexei Zubets said on Sputnik radio.

Deputy Foreign Minister Sergei Ryabkov told about Moscow's response to new U.S. sanctions. According to the diplomat, the authorities intend to reduce dependence on American payment systems and the dollar.

Ryabkov added that it is important for Russia to "create efficient economic schemes, where dependence on the dollar, on the American monetary and financial system" will be reduced. Otherwise, according to the deputy minister, "we will always sit on their hook -- exactly what they need."

The vice-rector of the Russian Federation's Finance University, Alexei Zubets, said on Sputnik radio that work in this direction is already underway.

"It is quite difficult to completely abandon the American monetary and financial system," Zubets said, "because more than half of the payments in the world are made in dollars -- in this case we are talking about the dollar as a unit of account -- because the U.S. at any time can block Russian payments in international trade transactions.

"This is what we are talking about, and we had to end it long ago. We need to create alternative options, and the payment card Mir, which is being promoted in Russia, is precisely the action for this. It is a matter of security. It is essential that the Russian payment system is independent and allows us to live free from the threat of sanctions and the blocking of our accounts, allowing us to use our money without regard to processing centers."

Earlier, U.S. President Donald Trump signed a law on sanctions against Russia, Iran, and North Korea. The new package of restrictions has become the largest since early 2014. The document mainly concerns the Russian energy sector.

The president could veto the bill passed by Congress, but in fact he was forced to sign it, for both chambers of Congress supported the sanctions with overwhelming votes and could easily overcome Trump's refusal.

http://www.gata.org/node/17556

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U.S. Dollar: This Crash Signals the End

Source: Lior Gantz for Streetwise Reports (8/4/17)

https://www.streetwisereports.com/pub/na/17605

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What 33 Years In and Around Wall Street Have Taught Me About Investing


August 3, 2017 - 6:29 am – by Peter Grandich



You’ve heard the old saying, if I only knew then what I know now? How true that really is. When I think of how I was promoted to head of investment strategy in 1987 with less than three years’ experience, I wonder how I managed. I spent most of my energies buying and selling stocks and foolishly believing I could continuously predict what the stock market would do, and I spent little time on learning and appreciating how money really works. It was not until I met Frank Congilose in 1998 that I was shown the real truth about money and that traditional financial planning, a process 98 percent of all investors employ (and one which is steered by “professional advisors”), is a horribly flawed process.

Back in the eighties, most professionals used a simple legal pad to show clients how to set up their “financial plans.” Nowadays, firms use fancy computer applications with all sorts of interactive charts and graphs. But in the end, whether on a legal pad or high-tech computer model, all of these “plans” do the same thing: They guess.



First, they seek a dollar number the client believes (or is shown) he or she will need to live happily ever after. This is the first absolute guess. Once that is agreed upon, the professional advisor picks a product or products—most involve stocks, mutual funds, etc.—and, based on past performance, projects similar returns for the future in order to reach that magical happily-ever-after figure. This is the second raw guess—a total shot in the dark as to how high or low future returns will be.

What’s wrong with this very unscientific method? Four economic factors have a major impact on any financial plan, and unless you have a crystal ball you’re simply guessing where they’ll be at any given time. They are:

Interest rates
Tax rates
Inflation rates
Rates of return

I’m going to let you in on a little secret: I can’t accurately predict the course of all four of these and neither can anyone else except Almighty God. Therefore, despite the average plan having hypothetical assumptions of these four factors, one or more of them will not be accurately assumed. One could get lucky as some did in the 1990s when everything was doing well, but do you want to depend on good fortune to keep your fortune? This is simply a well-established guessing game with all the bells and whistles. Make no mistake about it: traditional financial planning is a guessing game—a high-stakes round of hangman, charades, or twenty questions.

I don’t know about you, but I don’t want to leave my family’s security to chance. That’s why I was so awestruck by the process Frank Congilose introduced to me; one that employs the two most important money facts:



Lost opportunity cost
Velocity of money

Let me explain: If you had $20 and lost it, how much did you lose? Twenty dollars, right? Wrong. You lost the $20 plus whatever that twenty bucks could have earned if you had it. That is a lost opportunity cost (LOC). Just about everyone and every business has LOCs. The key to financial success is identifying the LOCs and putting them back on the right side of the ledger—your side!

If you were to identify about $20 a week (a few cups of latte, perhaps?) you could save, that would add up to $1,000 a year in savings. But it’s so much more when you take into consideration the LOCs. By saving that $1,000 per year, over twenty-five years you would save $25,000 plus the lost earnings on that money of over $18,000 (that’s at the modest interest rate of only 4 percent) for a total LOC of over $43,000. At 5 percent interest, the number increases to over $50,000. That $50K becomes part of your cash flow.

Cash flow, in case you didn’t know, is nothing more than the money that comes in and the money that goes out. If you spend more than you make you have a negative cash flow. If you make more than you spend (leaving some extra) you have a positive cash flow. Obviously, increasing the positive cash flow allows you to save more and accumulate more wealth.

No one knows more about money and cash flow than banks. They don’t produce anything yet they are able to turn one dollar into two or three or more. Here’s how it works: you deposit a dollar in the bank. The bank pays you interest on that dollar. The bank then lends your dollar out to someone else at a higher rate. How much higher depends on what type of loan the borrower takes. Not only is the rate they charge higher than they paid you, but they get to lend your dollar out two or three times on average. During the time your dollar is deposited in the bank, it may be loaned out for a car loan, personal loan, home equity loan, mortgage, or credit card. Each time the bank loans out your dollar they make money by way of charging the borrower more interest than they are paying you.

This is called the velocity of money, the average rate at which money is exchanged from one transaction to another. Velocity is the frequency with which a unit of money is spent over a specific time period. The bank has taken full advantage of the velocity of money and effectively made a dollar do the work of two or three or more. What I learned to do through the services of Frank and his associates is help people understand and take advantage of the velocity of money in their own finances just like banks do.

Another way to appreciate velocity of money is to take a penny and double it once a day. On day one you double a penny and end up with two cents. On day two you double your two cents and have four. On day three you double your four cents and have eight … and so on. How long before you have over a million dollars? It may shock you, but it’s only twenty-seven days. That’s right: a penny doubled each day for twenty-seven days is worth $1,342,177.20.

Without any out-of-pocket expenses or substantial risk, you can add hundreds of thousands of dollars to your worth over a lifetime by simply capturing LOCs and employing velocity of money strategies, which in turn increase cash flow. The sooner you learn that the key to successful finances is cash flow (saving your money instead of trying to gamble on an asset’s appreciation in price to increase net worth), the better off you will be.

I have found that there are four basic ways most people approach money matters. In which group do you fall?



The “No Planning” Approach

This is the person with absolutely no plan. Nothing. Nada. Wing and a prayer. Their entire plan is to worry about it tomorrow. Obviously, this is the worst-case scenario.

The “Occasional Planning” Approach

This is the person who intermittently thinks about money matters and might put forth a halfhearted attempt at a plan, especially right after New Year’s, but soon the day-to-day grind of life takes over and they end up doing what the no planning group does; worry about it starting tomorrow. But tomorrow never comes.

The “Needs Planning” Approach

This is the person who plans for specific events like college or a child’s wedding but does not have an overall, integrated financial plan. They at times actually progress on a specific goal only to find out they have let other important goals fall by the wayside and then try to catch up with some “Hail Mary” schemes.

The True “Financial Planning” Approach

The infrequent person who seriously plans for the things life throws at us. Not just retirement, mind you, but life. Buying a home, taking vacations, saving for college and retirement, and a nest egg for those things that just crop up.

Even among those who do plan, there are speed bumps along the way. In my three decades on Wall Street, I have seen many of the same mistakes time and time again. Here, I have assembled my list of Top Ten Biggest Investment Mistakes.



Peter Grandich’s Top Ten Biggest Investment Mistakes:



“Hot Potato” buying—Buying the popular stocks of the day or the latest get-rich-quick scheme. Unless you have a crooked rabbit, the turtle always wins this race in investing.



Believing publications—You see it all the time. Some magazine headline that reads “Ten sure-fire ways to riches,” or “Ten stocks to beat the market,” etc., all for the low, low price of a few bucks for that issue. While there are some really useful publications, magazines like Money who depend mostly on financial institutions for advertisement are, in my opinion, always tilted to the cup being half full and are not truly objective.



Failing to consider spouse’s views—Guilty as charged. Through my first making of millions, then losing a good portion of it, my wife’s only regret was I didn’t take into account her desires and wishes. Family financial planning must be a team effort.



Believing money is evil—Yes, the love of money is evil, but money itself is not. It’s a necessity but not to the point where we literally lose our eternal life with the true owner of it. Some people are afraid of it and what owning a hefty sum of it may do to them. As stated earlier, if you truly come to understand you’re only a steward with it, you are likely to do much good with it.



Not fully understanding what you’re doing—The less you know, the more people who live off the less knowledgeable can thrive. God knew how important matters of money would be and dedicated a good portion of His life’s manual (the Bible) to it. Shouldn’t you make a similar effort?



Inability to judge worthiness of risk—Here’s a news flash: if it’s too good to be true, it’s too good to be true. If the banks are paying you 1 percent and someone says you can make 10 percent, you better know that there’s a certain degree of risk that comes with the potential. Many times the anguish of a loss far outweighs the dollar amount, and it lasts longer and impacts other areas of your life.



Trusting financial institutions—Despite decades of deceit and fraud throughout the financial industry, most people still place a large degree of blind trust in the financial institutions and the personnel with whom they deal. Any financial adviser worth his or her weight should have a well-documented and long track record of success or at least have numerous references. Wouldn’t you be glad to give a reference if your adviser did well for you? Run, don’t walk, from those who can’t provide them.



“Hope” is not an investment strategy—When it comes to faith, hope is very good, but in investing it can be a killer. If I only had a dollar for every time I heard an investor say they’re “hoping” their stock goes back up so they can get their money back. Look, if you’re hoping the price will rise yet not willing to buy more at the reduced price, who do you expect to do so and pay up to the price you originally paid? Just hoping for these changes without sound fundamental reasons to back up that hope is a license for disaster.



No written financial strategy at all—Similar to the “No Planning” approach. Like anything else at which you want to succeed, you must write it down. In the landmark book The Magic of Thinking Big, author David J. Schwartz tells us to write down our goals—all of them. Financial goals are no different. Writing your plan down not only keeps you on track but acts as a benchmark as you achieve your financial goals. One of the first things to do is to take a thirty-day account of every dime you spend—and I mean everything. Almost always, people are surprised how much they spend and on what. They soon realize they can either do without some things or spend less on them.



And the number one biggest investment mistake is…

Procrastination—Without a doubt, putting off dealing with matters of finance is the single biggest investment mistake. Whether it’s by accident or on purpose, delaying dealing with finances can only hurt most.



Perhaps we can all take some advice from one of the richest men ever to walk this earth. No, not Donald Trump or Warren Buffet, but King Solomon. He was one of the Bible’s best investors. King Solomon has a fantastic track record based on three basic biblical principles:

Principle #1—Diversification

Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth. —Ecclesiastes 11:2

King Solomon knew that you don’t put all your eggs in one basket. This is especially true for those people who put all of their 401(k) savings into their company’s stock.

Principle #2 – Good Counsel

Without consultation, plans are frustrated, but with many counselors they succeed.—Proverbs 15:22

There’s no one person who can give universal counsel. Not only do you need to develop a support team, but you need to find a diverse group of a few individuals because one team member is not always aware of what another is doing and having someone quarterback all the different team players is important.

Principle #3—Ethical Investing

The conclusion, when all has been heard, is fear God and keep His commandments.—Ecclesiastes 12:13

Not only should we be honest in our investments but make sure where we place our monies to be Godly. That’s different for every individual, but might include avoiding investing in businesses involved in alcohol, weapons, tobacco, or companies with questionable human rights practices.



SIDEBAR:

“Learn as if you were going to live forever.

Live as if you were going to die tomorrow.”

—Mahatma Gandhi

Remember this: on Wall Street, there are bulls, bears, and pigs. The bulls and bears each have their day, but the pigs always end up at the slaughterhouse.

http://www.petergrandich.com/what-33-years-in-and-around-wall-street-have-taught-me-about-investing/

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Outside Lands 2017 Lineup Announcement-SanFrancisco_Music Festival

Live Heavy Metal Weekend On Tap(can't wait)

https://www.youtube.com/watch?v=bEheFwemWts

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Hoping You Have a Wonderful Day

Cheers