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What better way to maximize your profits...just dump your holdings all at once on no volume, makes perfect sense, no manipulation here, nothing but conspiracy tin foil hat nonsense! /sarc
Isn't it interesting how typically the paper price of an asset is based on the underlying asset value...no, no, no, not with gold and silver, PM's asset value is based on the paper price...flipped 180 degrees.
Merrill Lynch Caught Criminally Manipulating Precious Metals Market "Thousands Of Times" Over 6 Years
https://www.zerohedge.com/news/2019-06-25/merrill-lynch-caught-criminally-manipulating-precious-metals-market-thousands-times
Some great comments:
"Two indictments? Looks like Merrill Lynch got away with a slap on the wrist...just like Wall Street under Obama...when is this clown going to MAGA again?"
"So, fiat money was embarrassed at almost $2,000/oz of gold by printing up trillions in QE paper money. Anybody even remember anymore the Bushco slobs eliminating the M3 money supply figures... anybody... Bueller.... anybody?"
"Meh - $25M fine is a minor cost of doing business. Prolly less than expense reimbursements for Limos, Hookers, and Blow over the period in question. Two sacrificial lambs - prolly the dummies boasting on the chat board about fleecing muppets who got them busted.
Claw back any bonuses? Nope."
"The price of doing business has always been what banks can afford to keep paying as long as it's not too much." So sayeth the SEC and US gov. forevermore."
Gold Now 1405, Down 30 Off Today's High, But Not Until Miners Were Conveniently Sold Down Earlier...Coincidence? I Think Not.
That was pretty in your face and bold of the PTB to pull that orchestrated shit today, charts had nothing to do with it, pretty obvious what was going on, unless you have your head in the sand. It just further emphasizes how non-transparent, controlled and managed the markets have become and getting worse all the time, they don't even try to hide it anymore.
Cork, My line of reasoning as being the only thing that makes sense is as follows:
They allow gold to run while buying up the miners off their lows, then they sell the miners for huge profit (today with gold at the high) then they smack gold back down. What is to prevent tptb and insiders from doing this with no rule of law for the connected and taxpayer funded regulators looking the other way? Retail gets screwed again, rinse and repeat, can't allow a repeat of 2016 can they.
Why the disconnect in PM Miners and 1430 gold...makes no sense?
That would be nice, GORO looking stronger than most today!
Looks like GORO is up nicely, I think you caught the bottom, are you still holding?
For your listening pleasure on this Friday eve.
I want to thank Geodan for his part in that last post...your work is greatly appreciated!
Royal Nickel...RNX.TO Well the daily charts now show the 46 million and the .71 +15% close. Wow what a chart now! We will pick up some momo types now, oh well, comes with the territory when your stock explodes upward. We totally got the fireworks today was expecting, they just waited to last second to provide it Just look at this level 2 tape of RNX.TO trading in the last 30 minutes starting at 15:40, just unbelievable volume with VanEck GDXJ ETF proxy buying. The close was actually delayed by 10 minutes, you don't see that everyday with a junior mining penny stock!
http://cdn.ceo.ca.s3-us-west-2.amazonaws.com/1egqf58-RNC%202019-6-21.pdf
Thanks Cork, you should get in, based on the DD I've done, IMHO I see a short term double from this point by EOY, my target is 2.00-2.50 by 2021 even at 1250 gold. There may be profit taking on Monday, good entry opportunity for you and others.
JMHO, Cheers
Some weekend reading https://ceo.ca/rnx
Royal Nickel, RNX.TO closes @ .71 for a 92% gain in less than 1 month.
http://www.stockwatch.com/Chart/Hist.aspx?symbol=RNX®ion=C
$1411...Wow, didn't see that coming!
Shhhhh, nobody is supposed to remember that night of fraud in the PM markets.
Gold Spikes To 6Y Highs As Dollar, Bond Yields Plunge....
https://www.zerohedge.com/news/2019-06-19/10y-treasury-yield-plunges-below-200-first-time-nov-2016
$1394!..holy schnikes, some serious sh**t must be about to hit the fan!
$1363...I'll take that kind of slipping all day long!
"I miss the old days when we could find a little known new producer in the teens, and play the bounce for a 200-300 % gain, sell half and then ride the "free" shares."
Auh, Hello cork....RNC, they just poured their first 400oz dore bar at their new Higginsville mill after taking ownership just 7 days ago!
http://cdn.ceo.ca.s3-us-west-2.amazonaws.com/1egg4dq-RNC%20staff%20with%20first%20RNC%20gold%20dore%20bar%20poured%20at%20HGO.JPG
http://cdn.ceo.ca.s3-us-west-2.amazonaws.com/1egg4gi-First%20RNC%20gold%20dore%20bar%20poured%20at%20HGO.JPG
Not in the teens anymore, but it was, not too long ago....
It's Coming And It's Going to SUCK
Those who believe there will never be another recession are flat-out insane.
The business cycle has never been repealed. Every person who has predicted that someone has "conquered" it over the decades has been wrong.
Let me repeat that for emphasis: EVERY PERSON who has made such a prediction or claim through the last roughly 100 years HAS BEEN NOT ONLY WRONG THEY'VE BEEN DISASTROUSLY WRONG.
It won't be different this time around.
What is different is that through the last 40 or so years we have allowed the Federal Government to run enormous and continuous, compounding deficits. This has propped up asset markets to a tremendous degree but it has impoverished more than 90% of the population of the nation on a progressive and rapidly-increasing basis. Like all exponential series it started small and while there were a few who raised an alarm about the behavior of the government and Fed they were not listened to since the immediate impact was too small to be considered serious.
How do you get there from where we were? How do you wind up with a population that cannot manage to figure out the forward implications of an exponential growth policy in debt? How is it that the fundamental relationship between two exponential growth curves where one has a larger growth percentage than the other, is mathematically certain to destroy you if you don't cut it out is not universally understood by those with an IQ over 80?
If it is understood by those with an IQ over 80 and the outcome is a mathematical certainty then why isn't there an immediate uprising by the citizens if any government attempts such a scheme and if they refuse to stop when peaceful protest is lodged then whatever becomes necessary to enforce that demand is used?
After all if you're inevitably, under the laws of mathematics, ****ed if someone doesn't quit doing something who gives a wet crap if you are forced to engage in broadly and even outrageously illegal activity in order to stop it?
If you had a bunch of government people twiddling with ever-increasing amounts of enriched Uranium in the middle of your town square, adding one gram per day to the amount they're playing with and refusing to stop when you pointed out that they were inevitably going to irradiate the entire town and kill a huge number of people if they didn't cut it out would you not, at some point, shoot them? And if that wasn't enough (e.g. they found another government employee to continue onward) why would you not go full-on medieval in response?
What sort of mental defect do people have to have, en-masse, to sit back and let this happen? It's not like there aren't historical records stretching back more than a thousand years that prove the laws of mathematics are not suggestions and that every single nation that has ever gone down this road has undergone an economic -- and often societal -- collapse that has killed millions.
Far worse than economic crashes this crap nearly always leads to either war or a totalitarian government that winds up murdering huge swaths of the population, starting with those who were the biggest useful idiots promoting their schemes -- and sometimes both!
As it stands now The Fed and Federal Government have "no bullets" for any sort of real economic dislocation. We've spent that ammunition propping up asset prices over the last two decades through both Republican and Democrat administrations, neither of which have done anything other than expand said federal deficit spending both in good times and bad.
The premise of "counter-cyclical" monetary and fiscal policy that our government and Fed claim to employ is an outright fraud. Keynes himself pointed out that during booms you must run a surplus and pay down federal and state debt so you can borrow the money once again when the inevitable bust comes. That part of his premise has never been taken; instead what's called "Keynesian" economic policy is to always and everywhere expand federal deficit spending and The Federal Reserve has always backed that policy by tampering with interest rates so it can continue and accelerate.
Indeed The Fed's Bullard was just out essentially advocating for more of that crap!
Bill Clinton did not run an actual surplus -- not even for one year. He got close, once. But his alleged "surplus" was an accounting trick foisted on the American public by stealing the Social Security and Medicare tax deposits! That fraud has continued ever since and each and every year Treasury breathlessly reports a "deficit" number that is a fantasy-land lie, made smaller in each and every instance by stealing tax deposits intended for two programs that are supposed to be funded on an actuarial basis.
Multiple attempts to hold Treasury to that promise, including a couple that went all the way to the Supreme Court, have been thrown out. But whether the Supreme Court recognizes an actuarial and fiduciary duty to those paying in is a function of whether you can individually sue (nope, say they.) It does not change the outcome for society as a whole because no court judgment can change the laws of mathematics; as a nation whether you individually can compel government to stop blowing money with regard to your specific paid-in amounts or not is meaningless in terms of the inevitable outcome for everyone and the nation as a whole if they do not stop doing it.
It's nice to blame the public schools for this and some blame indeed resides there. We hire "teachers" for mathematics in Middle and High Schools, and demand every kid take those classes, where the mathematical principles of exponents are explained. But not one of them, in schools public or private, ever goes into how that applies to our government's fiscal behavior at local, state and federal levels, nor have I ever seen the inevitable outcome of what the government has been doing for the last 30+ years graphed out for young people to understand in a school -- nor have I ever seen our kids be forced to show they understand on a test and ultimately on the semester final exam, what will happen to the nation they are citizens of if they, and the rest of the population, does not force the government to cut that crap out.
Do you blame them? The teachers, as a group, are one of the biggest beneficiaries of these unsustainable and fraudulent set of government policies! You don't think their failure to teach the kids that they ought to consider a no-bull**** revolution on their 18th birthday if peaceful attempts to stop this crap fails is a simple mistake, do you?
A better question than simply blaming self-interested educators, however, is why don't you teach your ******n kids this ****? Why did I have to figure it out on my own? Why did not my father, who was a CPA, explain it to me roughly about the time I fixed his Burroughs bookkeeping machine's accounting software to update its tax calculations, saving the firm he worked for thousands of dollars? Was that because he knew good and damn well that he had voted for policies and supported politicians who stole his alleged "annuity payments" and spent it on other crap, and were printing deficits to make up the difference? You tell me -- as a CPA do you think he didn't know? Of course he did, and when I had an infant daughter crawling around on his living room carpet some 20 years later and confronted him with this fact, pointing to her as the person who would ultimately get it up the ass until she could taste it as a result of what he was not only remaining silent about but actively supporting and voting for do you think he gave a wet crap or apologized? Nope; he in fact maintained that he deserved to be allowed to assrape her future.
And thus we didn't talk for ten years after he ran that crap on me; I got in the car with my kid and left.
My father got lucky on time. He died and then my mother passed before the compounding they both voted for, which wound up roughly doubling the property taxes on their home between his death and hers, destroyed her ability to live out her life in reasonable comfort. My booze and drug-addled sister didn't help matters, but even without her draining resources had my mother lived another ten years, which was not high probability but certainly was possible, she would have been eating catfood. My original projection for the foldback point -- in 1995 when I started tracking this, and when the crap hit the fan before roughly 2000 in my parent's home -- was 2025.
It now appears that 2024 is pretty much when the crapshow starts in earnest and it will get rapidly worse once it begins since the people in this nation have no balls, deny math on a repeated, daily basis, and will not insist that this garbage stop. Gee, I was off a year or two. Such a terrible thing math is, right? We've really done so much to change the trajectory!
I got the hell away from Chicago before it really hit the fan there and the doubling of property taxes occurred on my house. Thank God for small favors and a few people doing really stupid things that resulted in my being able to depart and raise my kid in peace. She, now an adult, gets it because I drilled it into her. She appears to have judged, as I have, that there's no point in starting a fight over this so long as all but a handful of Americans don't give a flying **** since a single person's peaceful, lawful effort to do anything about it is pointless and anything that's less than lawful and peaceful simply gets you dead-right-now and/or labeled a criminal (or even a terrorist) and thrown in a cage but will change exactly nothing in terms of outcomes.
Among her age cohort up to about 40 around here I cannot find one other person that gives a flying **** about any of this including those with children that are already here and who will take the brunt of it before they reach adulthood. Nor do the "seasoned citizens" give a flying ****; when I nailed Matt Gaetz with the ignobility and illegality of what the medical system was doing to this nation and pointed to the fact that the Supreme Court has twice ruled it illegal in a town hall meeting full of Seniors exactly zero of them rose from their chairs to back me up and demand it stop nor did even one of them come talk to me about it afterward and ask for details and my body of evidence, which I was fully prepared to provide. Gatez, for his part, said he'd get back to me and was given a business card. He never did, of course; he lied about that too.
Those Seniors are all clones of my Dad and they all deserve to burn in Hell after their children and grandchildren throw their asses into the street to live under the Brooks Bridge overpass without so much as a refrigerator box for shelter.
If you think this isn't going to happen -- when the laws of mathematics say it most-certainly is -- then go ahead and live in your fantasy land. Get good and drunk -- or stoned -- and stay that way just like the homeless winos under that bridge.
It's your best and highest calling.
https://market-ticker.org/akcs-www?post=236069
Hi Cork,
I own RNKLF, but follow RNX.TO volume and price due to being the parent ticker. Unfortunately I am currently slightly in the red due to not expecting all the selling and shorting associated with two surprise back to back PP's this year, first one to raise cash for drill program as well as giving Sprott millions of shares @.46, he now owns 48M shares, the second was for the HGO mill/property purchase from Westgold, they now own 56M shares. RNX.TO was just added to the Van Eck GDXJ junior miner fund, announced on Friday, while AKG and FF were dropped.
Near term catalysts for RNX.TO/RNKLF are incoming GDXJ volume, reserve estimate end of June, Q2 production results (consisting of 80,000 tons of ore on pad and May limited production), return to full production in Q3 using the new mill, and new coarse gold discoveries (a real pps driver!) can happen anytime. IMO RNKLF is an absolute steal at .36, wish I had waited, but you know what they say about hindsight.
Best place for DD: https://ceo.ca/rnx
https://economicalpha.blog/2019/06/14/mvis-gdxj-junior-gold-mining-q2-rebalance-update/
Hey Cork, glad to see you posting again, looks like traffic on M&M will once again be picking up now that you are back on the scene....
Been heavily into RNC Minerals RNX.TO/RNKLF .49/.38 with properties in Australia/Canada, should really start to move this month with the closing of their new Higginsville mill/property yesterday and fresh reserve estimate due end of Q2 after a 6 month 40,000 meter drill campagne was completed in May.
To get you up to speed:
https://www.proactiveinvestors.com/companies/news/221817/rnc-minerals-catches-two-major-gold-discoveries-but-the-yellow-metal-is-only-part-of-the-miner-s-story-221817.html
Nobody, but nobody has been able to figure out the wheres and whys of the price action of this stock, it has made absolutely NO sense for months and months!
Never really made this connection until today: That the derivative markets are always driven by the underlying asset, except in the PM markets where the underlying assets (gold/silver) are driven by the derivative market, absolutely amazing how they have managed to defy all logic and twist this 180 degrees, continuing to get away with it year after year after year. How can anyone not see the blatant rigging of the PM sector.
https://steemit.com/money/@marketreport/now-you-will-know-exactly-how-they-rig-the-gold-and-silver-market-by-gregory-mannarino
Posting youtube directly:
Copy youtube link after equal sign
Select "Ticker"
Insert link
Insert y in front of each t inside brackets.
I'm now 60, IMO America will be unrecognizable in another 10 years, let alone 20, things are going parabolic and still the sheeple don't see it, nor want to even talk about it. 2024 is when deficits will become unmanageable, due to medicare alone. I don't mind saying, that I will witness it, but will already have lived my life.
Revolt or Collapse, Pick One:
https://market-ticker.org/akcs-www?singlepost=3460351
All the laws needed to stop this and most other political/financial corruption/fraud are already on the books, TPTB just refuse to enforce this "rule of law" unless you and me need to be silenced or made an example of...then they are enforced to the nth degree. Mark my words, this will ultimately end in civil war.
Charts mean little in a rigged game.
This after no additional rate hikes for 2019 announced, Trump pushing Powell for more QE, end to tightening and Bullard announcing normalization is at an end, PERFECTLY NORMAL F***KING TRADING ACTION?????
RNC Beta Hunt Mine Tour February 2019
https://insidexploration.com/
IMO being held down shorting/accumulation, this will pass with upcoming drill results and hopefully major resource estimate slated for end of Q2. Would like to see blowout number of 3-5 million ounces, in the mean time I am going to sell on the run up to any NR, next one is Q4 ER on March 27.
The last paragraph pretty much sums it up for me, been beating a dead horse for years with this question...
"Is it any wonder that generalist investors look at this space and steer clear, seeing these shenanigans against a background of stock prices lower today than at the beginning of the bull market, despite a quintupling in the gold price? Twenty years ago, hardly a generalist fund—small cap, large cap, value or growth—did not have exposure to gold mining shares. Today, hardly any does. Is it any wonder?"
The closest answer I ever got was "well all the easy gold has now been mined, now it's a less profitable sector with lower production and higher AISC" maybe, but my hardened cynicism towards the sector tells me otherwise.
All these investors that crow about dividends being their incentive for buying/staying in a particular equity need to realize how quickly these dividends can be suspended.
What was the catalyst for that NAK move?
I don't know what its going to take for this to move up, we have the gold, we have the exposure, we have the PR, we have the volume. With the dumping on every positive NR it is only going to get worse, attracting more day/swing traders and convincing more and more longs, myself included, to take profits on every pop. The shorts really are doing damage to this company with their huge short interest, they relentlessly drive the price lower and lower, but NEVER cover in any meaningful amounts, I don't understand how this blatant price suppression (yesterday's close for example) is even legal and I have to believe the MM's are in on it.
I am no expert and would appreciate any opinions from more knowledgeable individuals.
NY, In a nut shell AEM has 3 times the gold production @1.8 million ounces and 2.5 times the revenue @2.2 billion.
I used to have that problem, free at last, free at last, thank God almighty free at last!
Yes NY, I like KL a lot, was meaning to get in on the last dip @18.50, but it slipped my mind and bought WM.TO instead...oops, but as the saying goes, hindsight is always 20/20...
No, because they depend on financing from these very same banks during down times.
Return of pan....gold mining pan that is, RNC (RNX.TO) is on sale right now, nobody here talking about it, producing nickel mine in Australia, major visible coarse gold discovery/recovery, underground, all infrastructure in place, record multi-1000 oz specimens.
Nope...the dumping continues.