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Yes, exactly. It's easier to figure out who's NOT scamming the System as opposed to who is. Even when they get caught nothing happens. That's the biggest thing that's dissenagrated over the years IMO. Criminal behavior isn't punished anymore. Criminals get off, so now everyone's a criminal, even the people that are SUPPOSED to be held to a higher standard. It's sad.
I agree with David Brady's opinions totally. I don't think anyone out there predicting what's coming explains and gives such sound reasoning as David does. In that interview he actually explains how he comes to the conclusions he makes based on the data he collects. The Man makes so much sense with his explanations and I love his Irish accent. LOL
At some future time, I think the Greenie's will make a strong push to go to EV mining equipment, but even if they can do batteries to the scale needed to move the earth that some of those huge trucks can move there may be issues with actually having on site electricity to power them. Remember some of the world's mining areas aren't easily electric power accessible anyway, so if there wasn't on site electricity that would be a problem. How long would it take to charge the battery of one of those huge earth-moving trucks? OMG, you would think quite a while. It may take longer to charge than it's operation time would also be an issue.
ANOTHER Fed scammer? Who ISN'T scamming there is the question I guess. I also read another article today discussing even more congressional folks who conducted insider trading. Good thing the DOJ and FBI are focused on soccer moms voicing their opinions at school board meetings! It is amazing how quickly and far we have devolved from where we were when I was a kid to where we are now.
The Brady interview was great. I did not realize some major players are now long silver. I guess it is not a surprise since the premium on ALL physical silver has gone up quite a bit lately.
His discussion of bonds and junk bonds was good. I do not have the nerve to buy junk bonds in normal cirucmstances....right now it would be impossible with the risk that is out there, no matter what kind of interest they are paying.
Here's a play with some risk - companies that make electric mining equipment. If Justin Castro and Uncle Joe can muscle through EV laws relating to mining equipment then the companies which produce them might be a good speculation. If Congress changes hands in the US I doubt that type of law would pass.
Did you see this? Another Bankster got caught illegally trading. He didn't fess up to it they discovered what he was doing.
The man claimed he didn't understand the rules. Aren't all these people well educated with PHD's? Nothing but a bunch of damn CROOKS. It's difficult to have any credibility when everyone is a cheat.
https://www.zerohedge.com/markets/atlanta-fed-president-reveals-five-years-trading-violations-claims-he-didnt-understand
A fantastic interview by David Brady with Tom on Palisades Gold Radio. Brady is so articulate and precise about what he sees coming it's a pleasure to listen to him. Brady is super smart and does his homework to his credit.
If you're not accumulating physical PM's or mining shares currently you will be after listening to David. He gives awesome detail on many of the issues that could blow up the entire System. He sees something breaking VERY SOON.
Must read opinion article from Nouriel Roubini on the stagflationary times we'll be experiencing he says for the next decade or so. He cites some very good reasons why this is going to happen and why just like back in the 70's PM's did so well.
What we could be seeing this time are the 70's stagflation on steroids for the reasons he gives in the article. PM and PM miners should fly in this environment, just look what they did back in the 70's. It was arguably the best time ever to be in PM's. Roubini even gives gold as a place you want to be.
https://www.msn.com/en-us/money/markets/we-re-heading-for-a-stagflationary-crisis-unlike-anything-we-ve-ever-seen/ar-AA12VOhP?ocid=msedgntp&cvid=c680c69b9cf54e038120118252d1c060
No, I hadn't seen that about no one buying Japanese bonds, but as the article explained very well, how do they count as a viable country when in essence they're insolvent? When you own most of your own debt and that's not considered being broke? IMO it's all financial fixing.among these countries making them continue to function when in reality the numbers show they shouldn't be.
I don't see how they're not already in some sort of financial crisis, but they're not the only One's that are doing that, it's happening globally and the U.S. would be in the same boat were they not able to create fiat dollars. That's the ONLY thing that makes us different from any other insolvent country on this planet.
I watch the biz news pretty closely and I haven't seen anything about this on MSM.
You probably heard this already, but in case you have not:
https://www.encouragingangels.org/new-blog/2022/10/13/lg126fij4wiv6sy8gvtudwupll6y3x
Good article from David Rosenberg on what he sees coming. I thought he made a really interesting point about after the Fed pauses it would be 16 MONTHS before the market bottoms. That's much, much longer than I would have expected. He thinks that's probably a story for either late 2023 or 2024.
Again, that could coincide closely with the Springpole permitting and hopefully money moving into the miners in a bigger way. Rosenberg is also calling for inflation to drop rapidly next year, so we could see them maybe easing rates sometime in late 2023.
https://markets.businessinsider.com/news/stocks/david-rosenberg-federal-reserve-interest-rates-inflation-recession-stock-market-2022-10
Article from Mish speaking to where the Banksters seem to be headed with rates and for how long before they pause. It would seem they want to take rates to the 4.5% area (if they can) by next March, then at that point they'll pause to see where they stand. Mish is skeptical about if they can get there before something breaks. Time will tell how it plays out.
https://mishtalk.com/economics/two-fed-presidents-signal-caution-on-rate-hikes-but-not-until-the-damage-is-done
Just saw this Barrons article about the BOE extending their bond buying after Friday.
From what this article is saying it may be they WON'T extend the buying and if that's the case all Hell may break loose. It will be interesting to see what happens.
https://www.marketwatch.com/articles/british-pound-bank-of-england-bond-buying-51665562470?mod=mw_latestnews
Very good George Gammon video from yesterday about what's happening in England and how we could see systemic issues arising from their problems there.
Looks like the wheels are about to come off in several of the European countries, not just in England. They're trying now to paper over the problems. This could be the beginning of some bigger problems happening in the world of over-levered governments. How far and fast could it spread when the dominos start falling?
Good article. That Congressman has put forward several bills I consider good for stackers and sound money.
Ha, I missed that article. Thanks for posting it.
I give Rep. Mooney credit for attempting to pass a bill through Congress that makes more sense than 99.9% of any of the other crap they push through in D.C. in any given year.
He deserves credit, but we all know it ain't got a snowball's chance in Hell of passing The Elites running the world monetary system haven't wanted sound money since they took the System OFF the gold standard. Going back on a gold standard would mean exactly what was stated in the article and would make the Banksters have to adhere to some actual rules, God forbid.
1) They now have no accountability when it comes to unlimited fiat creation.
2) There would be no way to fund the trillion dollar deficits when they buy bonds to fund the government, which would immediately send the U.S. into default.
3) The biggest reason is that the Banksters would have to disclose all records pertaining to redemptions and transfers in the 10 years preceding the temportary suspension of August 15, 1971 of gold redeemability obligations. THAT WILL NEVER HAPPEN.
In short, being responsible is not something these Assholes will ever be accused of and all the crooked politicians know it. The Scam will continue until it can't anymore. I'm actually surprised someone is still attempting to right the ship.
Interesting article speaking to where the physical gold is moving. In a very big way it's continuing to move from west to the east. Check out the chart. No surprise who's at the top of the list of buyers.
https://www.bnnbloomberg.ca/gold-is-heading-east-as-a-falling-price-lures-asian-buyers-1.1830187
It's simply mind boggling the gold they're finding at and around PC. No doubt this will be a huge open pit operation at some point with all the near surface gold that's there.
Darren Clarke is absolutely right when he said they have a DISTRICT deposit there, not just what's on PC, but all around PC. Keith has to be kicking himself in the ass for giving this jewel up so easily. I still say FMG didn't know the real potential of this property. Auteco literally hit the gold mine jackpot when they got PC.
We still have our 20% of the gold being found there and if I were Management it wouldn't go cheap. All these ounces Auteco continues to pile up are ounces going to our totals too.
I noticed they've reduced the drill rigs now from five down to two to preserve cash.
My guess is on this next resource update they'll surpass 3 million ounces on their way to probably 4 or 5 million ounces.
Thanks for posting that PR from Auteco.
More great drill results from Auteco. Takes a while to load, but a good read.
https://wcsecure.weblink.com.au/pdf/AUT/02580501.pdf
Another Bankster who probably should be in prison. Wait, did Holder coin the term Too Big To Fail or was it Bernake or someone else? I do know one thing, under Holder it was too big to prosecute. What was horrible enforcement or inaction back then would look great by today's standards.
More and more it looks like the BRICS will pull the plug on the USD....but when is the question? Hopefully no war results, but from where I sit some of the same necons that got us into the sandbox for 20 years - Wolfowitz, Crystal, Bolton, etc. - are pushing for yet more war when we should be focused on domestic drilling and turning on the darn Keystone Pipeline as well as the pipeline in Michigan they shut down.
Say it ain't so Jamie....even the perma bulls are bearish. LOL
https://www.zerohedge.com/markets/serious-jamie-dimon-says-sp-could-shed-20-warns-recession-6-9-months
IMO Peter can be out on the fringe with his predictions sometimes, but most of the time he's spot on. I think he really enjoys it when he's proven right with his predictions and to his credit he was spot on with his inflation calls. He was talking about that long before it arrived.
I believe FFMGF will be at least a 20 bagger from here. That would mean at some point our shares go to $3. IMO we're going to be surprised how fast it goes there once the gold bull market hits it's stride. When it comes the move will be fast and big.
Schiff always covers all economic topics with such ease....you can tell he really enjoys himself when talking about it. Did you like his forecast for the dollar? - The Fed is screwed whatever route they choose. Let us hope that FF is one of the 20 or 30 baggers he mentioned during gold run-ups.
I am glad to see him because I have not seen any videos from him in a while.
Another great Peter Schiff interview with Greg Hunter. Peter's one of the few people out there that really know what's going on and he explains it very well. Scroll down and watch the video down the page.
https://www.zerohedge.com/markets/day-reckoning-finally-here-peter-schiff-warns-inflation-will-its-here-stay
NI 43-101 posted on the FMG website Friday. Lots of gold at Duparquet and amazing all the drilling work that's already been done there. Notice all the gold that's still in the tailings. WOW
https://firstmininggold.com/news/first-mining-files-ni-43-101-technical-report-on-the-updated--mineral-resource-estimate-for-the-duparquet-gold-project-quebec
I agree with you. The ONLY thing underpinning the greenback's ascendency is that currently it's the reserve currency. Every other currency has to follow what the dollar does. That's what gives the strength and advantages to our economy. That seems to be changing and the moves being made by the Saudi's with their oil production IMO is a good case in point.
Good article, the only part I take issue with was this comment - "Underpinning the greenback's ascendancy were the U.S. economy's superior performance..."
I would say it is a bit of a stretch to claim the US economy has had superior performance...though I guess from a certain perspective it is true if you compare the US economy to the Eurozone economy lately.
Article speaking to how long the current dollar run may take. 85% of the analysts in a recent poll said they thought the dollar hadn't reached an inflection point and it might not be until Q2 of next year before that happens.
If they're right we should continue to see a weaker gold price at least in dollar terms. Seems to still be a long way off to me, but time will tell who's right. I suppose they think that will be the time when it could happen IF no blow-ups happen before then.
https://finance.yahoo.com/news/dollars-blistering-rally-extend-next-000923411.html
Article from Kitco comparing the dollar gold price base we're seeing now to the very strong base we had in 1999. Of course, that was right before the gold price went from $250 per oz. to an all time high of $1900 in 2011.
So, it appears the author is calling a rock-solid bottom here in the gold price and much higher prices coming when the Fed has to reverse course. I thought his comparisons to then and now were interesting.
https://www.kitco.com/news/2022-10-05/Gold-price-rally-to-resume-after-foundation-akin-to-1999-is-built-watch-USD-vs-EUR-disparity-says-Bloomberg-Intelligence.html
IMO the pivot will come when like Piepenburg said in his article..."When the pain, politics, and panics have reached levels the U.S. and global economy and markets haven't seen since the FDR era, Powell will throw in the towel and pivot."
In other words it's going to have to get a lot worse than where we currently are in this cycle. I believe it's going to take more events like what we saw happen in the U.K. with them having to come in and prop up their bond market The Banksters are going to have to be more worried about some sort of systemic collapse than they are about bringing inflation down. If they pivot too soon then inflation will not be contained and it will take off again higher, but if they continue on this current tightening path they risk crashing the System. IMO they'll HAVE to pivot to prevent that event from happening. Powell and his minions know that too.
The market is expecting them to go another 100 bps or so higher, so that would put rates around 4% IF they can take it that high, but remember they're also going to increase the QT, so that's added tightening. I definitely think they'll have a lot more problems begin to show up before year end. Whether they can put out those fires before they have to pivot is anyone's guess. I'm thinking the pivot may come sometime in Q1 of next year, ONLY if they can contain any major blow-ups before that time. We'll see.
Gold and silver will scream higher when the pivot comes and they have to come in with more QE. We break through the old price highs and IMO the miners finally break out in a very big way, as it will be clear as day PM prices are going to new higher levels.
Article by Kranzler discussing consumer debt. I did not realize Goldman had pushed into the consumber debt space.
https://investmentresearchdynamics.com/financial-markets/consumer-debt-delinquencies-and-defaults-set-to-soar/
He always has some comments that make me laugh - in this article his reference to Powell as Volker re-born was funny (to me anyway). I also laughed when reading his reference to Powell being the Wizard of Dc/OZ. The article is great because it really lays out the quandry that the Fed faces.Turn left, problems a, b and c. Turn right, problems d, e and f. Personally, I think they'll chose the easy way out and print. The only question is when?
When do you think they will pivot? Should be a good period for gold and FF.
Great article by Matt Piepenburg.
https://www.zerohedge.com/markets/feds-strong-dollar-policy-recipe-systemic-implosion
Very good article and interview with Keith McCollugh. IMO he's spot on with what we're going to see when the Fed has to pivot and we'll be right in the middle of a huge recession/depression. Keith makes a viable case for what happens after that.
Read the whole article, including the questions to Keith.
https://www.marketwatch.com/story/this-stock-market-strategist-says-the-coming-recession-could-be-the-biggest-ever-i-recommend-prayer-11664819562?mod=home-page
Would have been nice if Burry posted a list of the companies, but I am sure with some minimal investigation we could find some of them.
We are back in the stratosphere as far as valuations for some companies, but did you notice many people are not paying attention to it, again, just like the 1999-2000 tech bubble and 2006-2008 mortgage-related market crisis?
It would seem we're not the only One's that think we could be seeing a worse, but similar type outcome as what happened in the 2008 crisis. Michael Burry is calling for a repeat of that outcome too. Pretty good company on our side.
https://www.msn.com/en-us/money/savingandinvesting/big-short-burry-warns-that-a-repeat-of-the-2008-crisis-is-in-sight/ar-AA12uBMc?ocid=msedgntp&cvid=f5b1aed55a624f4a8637f3d0cc17f9cc
Zero interest rates and easy money credit provided by the Fed have been in large part what's gotten us into this mess. That market liquidity is being taken away now and as interest rates rise and QT is implemented that stresses EVERYTHING in risk assets. How much longer the System can handle it is the big question. IMO we're going to see them take it too far and break something. The money created from the pandemic was the catalyst for the big inflation rise.
As we now are seeing, about the best place to be is in short term U.S.treasuries and long the dollar, although the dollar's rise is probably getting somewhat long in the tooth, short term. The higher interest rates they're imposing now are going to be lagging in nature, so their effects won't be felt entirely until next year. I see us in a very bad recession next year.
Yes, liquidity risk was the same issues they had back in 2007-08 and it's of course what has all the bank CEO's/economists/market pundits very concerned about the train wreck coming if they choke off the liquidity. Most that I hear say the Fed will go too far and IMO they're right. Are they intentionally trying to crash the System? I don't think they want to take the blame for crashing it, but inadvertently they could do it anyway. They know they're painted into a corner.
When the next crisis comes they'll be forced to pivot and most likely start dropping rates again. The markets will reverse and go higher again until everyone figures out nothing has been fixed and the next crisis comes along.
Just listened to the El-Erian video you posted. I don't know how people can ignore liquidity risk since - correct me if I am wrong - that is what almost brought us down during the 2007-08 debacle. That to me ties into what Willie had talked about with the derivatives mountain which was built over the last 20 or 25 years. What will cause a derivative failure and start a liquidity freeze? Sounds like the "Ice-9" situation Rickards has mentioned several times.
El-Erian also discussed credit. I think it was the video you posted the other day with Giambruno where he mentioned 40% of total money was created in response to the virus crisis in 2020. That to me was a shocker because I thought that number was around 30%. Bill Holter often mentions credit risk, though I feel his idea of credit risk is somewhat different than El-Erian's view of that phrase. Regardless of which definition we go with, when credit dries up it will trigger some a lot of business damage and I would imagine send some market segments lower (auto sales, home improvement projects, home sales themselves).
Willie covers a lot of different subjects in this interview. Much of it are his political views and opinions. I definitely believe politics plays a big role in what's going on in the financial markets and where gold will ultimately come into play, but I try to keep my posts here focused as best I can on FMG and why I think PM's are going to be relevant again. I admit I get off topic at times here too mostly about geopolitical events I feel will cause changes in the financial markets that bring metals back into
the System.
Willie makes some very good thought provoking statements and he's been saying a lot of what I've heard him say in the past. I used to listen to him quite often, but haven't in recent times. I remember the biggest problem I had with Willie is his VOICE! Geeez, after about 20 minutes of listening to him I had to turn the volume down to the very lowest I could to hear him. IMO his talking voice is almost unbearable to listen to for any length of time.
If what he said in the first part of this interview comes true about the collapse of the dollar and the banking industry going belly up that IMO would be the perfect time for China to back the Yuan with gold/commodities and let the world know how much they currently have. Willie is pretty doom and gloom and also is calling for it to happen very soon. Time will tell if he's right or not.
Big changes are coming. The $64K question is WHEN.
I know it is hard to find time to watch and read everything, but here is a discussion with Jim Willie. While he is controversial on a lot of topics (i.e. - shots, elections, politics), I always find his commentary on the dollar, Forex markets, derivatives and interest rates interesting. I don't always agree with him, but hie has thought-provoking viewpoints at times.
https://www.bitchute.com/video/Kw7Xg1LAXsmk/
He said that IF China goes gold-backed currency that the U.S. will be FORCED to go to it also. Is that true? I don't know, but China's not been hoarding their gold for decades now for nothing. I believe that's exactly what the Chinese are planning to do at some point.
The world is currently using fiat because the RESERVE CURRENCY is fiat. This is exactly why when the Fed does what they do the rest of the world has to try and follow. This is also why the world is so indebted and why he talked about the Banksters NOT being able to pay the interest on the debt if rates are too high, but by the same token all they can attempt to do is inflate the debt away. They had to keep inflating away debt to keep from defaulting.
So, how are they going to control inflation and keep rates low too? It's impossible, they can't do it. Hence, at some point in time a debt jubilee. When does that come, before or after they go to the digital dollar? Who can say. What we do know is that the situation they're in now isn't going to work.
The student loan scam will be very inflationary. I heard just yesterday on the news that it's going to add $500 BILLION to the national debt, so that's listed as a liability on the national balance sheet. Just more debt. Demantia Joe is trying to buy some votes for sure, but he may be losing more than he's gaining. There are many more pissed off tax-payers footing the student debt bill than there are benefitting from the forgiveness.
I agree with him that the USD-based system is going away (and probably soon), but he mentioned the US might even return to some sort of gold standard. This I disagree with. They will NEVER do that willingly because they are so used to playing around with things and hiding things that they could not return to any type of honest system. The only way that happens is if the world moves on and the US is forced to play along or be left out. They will not do this unless everything else fails.
So with his comments about CBDC I am reminded of what Jim Willlie has been talking about for at least 8 or 10 years....that they will try another fiat-based system which will not work or be accepted and that they will be forced (at least internationally) to use gold-backed notes for trade. He has been saying for years the second version of the USD will be what he coins the "scheisse" dollar. I believe he means "shit" dollar by this (forgive any incorrect translation as I do not speak German).
Rob Kirby had mentioned previously that China way paying Iran in part or in whole via bitcoin. So there is some real use there, but I just don't know if central banks will ever willingly cede their power over to something like bitcoin. In fact, I would expect some governments to play games and manipulate it to make money for themselves or their cronies (i.e. - Blackrock, Vanguard, etc.). If it got going, it would be a great way to suck capital in and then destroy it by claiming the blockchain is corrupt, finding out a way to manipulate the blockchain to alllow them to generate unlimited bitcoin, etc. Not sure if I agree wtih the guy on this video that bitcoin can kill central banks. That to me sems like a bit of a stretch.
Debt jubilee - totally agree with the guy on the video that US debt will be dealt with through inflation. I think that is the only option they have at this point. Or they could create a war and blame the war. I got a laugh when I heard that in response to China Joe's debt forgiveness announcement, some schools raised their tuition. Forgiving student loan debt is not going to solve the problem. It will just buy a few votes. So it will not slow down the growth in student loan debt unless we have a big drop in college attendance.
I highly recommend watching this interview. The Fellow being interviewed is very intelligent and well-spoken to many of the situations we're seeing now. He speaks to many subjects and makes a hellava lot of sense in all of them. Watch the entire video he's interesting in the whole thing.
Note what El-Erian is saying now. The same thing I've been preaching about for months now.
That the Banksters won't pivot until they cause an economic or financial disaster. Oh, really! It's pretty clear that the way he says what is coming he believes is going to happen and maybe very soon. He says they're using band aids now to fix the problems, so it's only temporary in his opinion.
I'm going to set up a phone conversation with Dan before year end and bounce a few questions about where they want to go currently.
My guess would be they would rather partner Springpole with someone and most likely keep our other properties in house, but it's hard to say if that's what they'll do if the right opportunity comes along.
There's still work to be done before they begin any mining at Duparquet and I'm not even sure what the status is for them to begin to mine there from the government. My guess would be they still would have to procure some permitting.
Without knowing what's going on behind the scenes concerning discussions with other parties IMO the Duparquet acquisition opens the JV door much wider than with just Springpole if that's the direction our Management chooses to go.
Why couldn't we attract a major mining company to partner with us on either Springpole or Duparquet AND if necessary, both of those properties? That's an option now that we have acquired Duparquet. That's another carrot we have available to dangle in front of potential suitors/partners.
To your point about Dan mentioning a starter open pit. That would almost lead me to believe they want to keep Duparquet for ourselves and try to begin mining there asap. We would still need to raise some cash to do that, so we'll see how it all unfolds, but IMO acquiring Duparquet surely has to make some of the bigger Players sit up and take notice on our outstanding list of properties and Keith is acutely aware of that fact. Like Dan said Duparquet adds 40% more gold reserves to our numbers.
It also should make us even more susceptible to being bought out too. I would see some sort of bidding war ensue if that were to happen.
I think almost all of us agree that Duparquet was a great acquisition and worth the time they spent trying to get the deal done. I know it took years of talks.
I really like the way Dan described there being an area of the resource they could use as a starter open pit.
In the past he has also mentioned working the tailings to recover possible lost gold not recoverable in the past with the older processing techniques.
They just raised $5 million, but they gave $10M plus FMG shares for Duparquet.
I believe they had about $20M in cash before this deal got done, so my guess is they have somewhere around $15M or less in cash on hand currently.
IMO Duparquet had to be acquired. It was just too good to pass up.
I agree with you and with Dan...I would hate to see them do any sales or royalty deals right now because things are too cheaply priced. Hopefully the market firms before they ink a deal, whatever that might be.
From the way Dan avoided the question it sounds like they do not have a significant amount of cash on hand.
Thanks for posting those. What I really like about the way Matt at Crux does his interviews is that he never goes over the top about any asset he talks about even as in the case of Duparquet it's an obvious home run. He sticks to his line of questioning that digs (no pun intended) deeper into how a project will be funded or where it fits into the Company plans going forward. In our case, that's mostly related to Springpole.
I though Dan gave some good answers to Matt's questions. IMO we're probably devising some plans in which we can raise some cash. Dan gave a few possibilities to how that could be done and as he said no one wants to sell anything now because of how cheap everything is.
The big ace in the hole for us is of course Keith and FM's possible involvement at some future point in time with FMG. No one ever wants to talk about that for some unknown reason. I still say that's relevant.
Latest Wyeth presentation. Not much new from what I saw.
https://www.gowebcasting.com/events/precious-metals-summit-conferences-llc/2022/09/15/treasury-metals-inc/play/stream/34791
Latest Crux Investor talk with Dan.
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