Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
FOUR STAGES OF A MAN'S LIFE
1. You believe in Santa.
2. You don't believe in Santa.
3. You are Santa.
4. You look like Santa.
Ghosts of Bubbles Past - Yulletide Wash and Rinse
with MMGYS Soundtrack bottom of page
“You are fettered,” said Scrooge, trembling. “Tell me why?”
“I wear the chain I forged in life,” replied the Ghost. “I made it link by link, and yard by yard; I girded it on of my own free will, and of my own free will I wore it. Is its pattern strange to you?” Scrooge trembled more and more.
“Or would you know,” pursued the Ghost, “the weight and length of the strong coil you bear yourself? It was full as heavy and as long as this, seven Christmas Eves ago. You have laboured on it, since. It is a ponderous chain!..."
“But you were always a good man of business, Jacob,' faltered Scrooge, who now began to apply this to himself.
Business!' cried the Ghost, wringing its hands again. "Mankind was my business; charity, mercy, forbearance, and benevolence, were, all, my business. The deals of my trade were but a drop of water in the comprehensive ocean of my business!”
Charles Dickens, A Christmas Carol
"The people who walked in darkness have seen a great light; those who dwelt in a land of deep darkness, on them a light has shined."
Isaiah 9:1
After reaching new highs and the pinnacle of another vaporous overbought risk bubble, stocks sold off hard this afternoon.
Wash and rinse complete.
Ho, ho, ho.
Gold and silver sold, while the Dollar rose.
VIX rebounded strongly from its recent supine levels.
It never ends.
Have a pleasant evening.
https://jessescrossroadscafe.blogspot.com/
Ghosts of Bubbles Past - Yulletide Wash and Rinse
with MMGYS Soundtrack bottom of page
“You are fettered,” said Scrooge, trembling. “Tell me why?”
“I wear the chain I forged in life,” replied the Ghost. “I made it link by link, and yard by yard; I girded it on of my own free will, and of my own free will I wore it. Is its pattern strange to you?” Scrooge trembled more and more.
“Or would you know,” pursued the Ghost, “the weight and length of the strong coil you bear yourself? It was full as heavy and as long as this, seven Christmas Eves ago. You have laboured on it, since. It is a ponderous chain!..."
“But you were always a good man of business, Jacob,' faltered Scrooge, who now began to apply this to himself.
Business!' cried the Ghost, wringing its hands again. "Mankind was my business; charity, mercy, forbearance, and benevolence, were, all, my business. The deals of my trade were but a drop of water in the comprehensive ocean of my business!”
Charles Dickens, A Christmas Carol
"The people who walked in darkness have seen a great light; those who dwelt in a land of deep darkness, on them a light has shined."
Isaiah 9:1
After reaching new highs and the pinnacle of another vaporous overbought risk bubble, stocks sold off hard this afternoon.
Wash and rinse complete.
Ho, ho, ho.
Gold and silver sold, while the Dollar rose.
VIX rebounded strongly from its recent supine levels.
It never ends.
Have a pleasant evening.
https://jessescrossroadscafe.blogspot.com/
Thanks wshaw14 Happy Holidays and Merry Christmas to you and all the Gals and Gents here
and from all of us on the McEwen Mining board
Happy Holidays and Merry Christmas
May 2024 be our year and
Happy New Year to all
..................Go $MUX.................
...........Go Green...............................
.....Go McEwen Copper........................
♥️😄💯
Growing bipartisan opposition to US Steel purchase by Japanese might not be enough to block deal
with MMGYS A,I. Soundtrack U,S. Steels new Japan theme song "World is Mine"
New York (CNN) — Bipartisan opposition is growing to the proposed $14.1 billion acquisition of US Steel by Japan’s largest steelmaker, but that is unlikely to be enough to block the purchase, according to an expert in foreign investment deals.
Posted 12:18 p.m. Today - Updated 12:17 p.m. Today
By Matt Egan and Chris Isidore, CNN
New York (CNN) — Bipartisan opposition is growing to the proposed $14.1 billion acquisition of US Steel by Japan’s largest steelmaker, but that is unlikely to be enough to block the purchase, according to an expert in foreign investment deals.
A trio of Republican senators Tuesday called for a panel of US officials to block Nippon Steel’s takeover of US Steel due to national security concerns.
WRAL News Brief
Sens. JD Vance, Josh Hawley and Marco Rubio wrote Treasury Secretary Janet Yellen a letter on Tuesday warning the US Steel deal has “dire implications for the industrial base of the United States” and “was not entered into with US national security in mind.”
Yellen chairs the Committee on Foreign Investment in the United States (CFIUS), an interagency panel empowered to review transactions involving foreign investment in America to determine the impact on national security. CFIUS members include the heads of the Department of Defense, State, Homeland Security and Justice.
CFIUS “can and should block the acquisition of US Steel by NSC, a company whose allegiances clearly lie with a foreign state and whose record in the United States is deeply flawed,” Vance, Hawley and Rubio said. They argued CFIUS should launch a review of the deal unilaterally, especially because US Steel received competitive bids from American companies.
The lawmakers note that domestic steel production is “vital to US national security” and cited steps taken by Republican and Democratic administrations to bolster the steel industry. Vance is the junior senator from Ohio, while Hawley and Rubio represent Missouri and Florida, respectively.
“Allowing foreign companies to buy out American companies and enjoy our trade protections subverts the very purpose for which those protections were put in place,” the Republican lawmakers wrote.
Vance, Hawley and Rubio cautioned that Nippon Steel “does not share US Steel’s storied connection to the United States and its financial interests are tied to those of Japan.” The lawmakers note that Nippon has previously been found guilty of unlawfully dumping flat-rolled steel products in the United States.
Ohio’s other senator, Democrat Sherrod Brown, also issued a statement Monday opposing the deal.
“A foreign company should not be able to swoop in, ignore the voices of union workers, and buy a major American steel manufacturer behind closed doors,” said Brown, who faces reelection in 2024. “Nippon and US Steel have insulted American steelworkers by refusing to give them a seat at the table and raised grave concerns about their commitment to the future of the American steel industry.”
Brown said that if US Steel is going to be sold, it should be purchased by Ohio-based Cleveland Cliffs, which had the support of the United Steelworkers union in its failed effort earlier this year to buy US Steel.
Sen. Joe Manchin, the West Virginia Democrat who is not seeking reelection but is still considering an independent campaign for president, also attacked the sale of the company to a foreign rival.
“This is a major blow to the American steel industry which has been instrumental in making us the superpower of the world and a direct threat to our national security,” he said in a statement Tuesday. “At a time when domestic manufacturing – including in the US steel market – is facing increased competition from unfair trade, we must be doing everything we can to prevent any further deterioration of American ownership
Sen. John Fetterman, a Pennsylvania Democrat, also decried the proposed sale.
“It’s absolutely outrageous that US Steel has agreed to sell themselves to a foreign company,” Fetterman said Monday in a statement. “Steel is always about security – both our national security and the economic security of our steel communities. I am committed to doing anything I can do, using my platform and my position, to block this foreign sale.”
And the United Steelworkers union is also on record opposing the deal.
The proposed deal “demonstrates the same greedy, shortsighted attitude that has guided US Steel for far too long,” said USW President David McCall. “We remained open throughout this process to working with US Steel to keep this iconic American company domestically owned and operated, but instead it chose to push aside the concerns of its dedicated workforce and sell to a foreign-owned company.”
Blocking deal still is ‘quite unlikely’
Despite the growing political opposition to the deal from politicians and the United Steelworkers union, it is unlikely that CFIUS would block the deal by a close US ally such as Japan, said Michael Leiter, head of the CFIUS and national security practices at law firm Skadden, Arps.
“This has never happened before for a Japanese buyer of a US business - even in the height of US-Japan trade tensions in the 1980s and 1990s - and it seems quite unlikely that it would do so here,” he told CNN.
No matter the recommendation of CFIUS, the final decision rests with the president, Leiter said. Even with the political pressure from the both parties and the importance of Ohio and Pennsylvania in next year’s election, Leiter doesn’t think Biden would act to block the deal.
“Were President Biden to reject the deal this would immediately create a significant issue with our Japanese allies given the importance of collaboration on other critical issues such as China and semiconductor production and supply chains,” he said.
Representatives from US Steel did not respond to requests for comment on the letter or Brown and Fetterman’s objections. Treasury declined to comment.
US Steel officials touted the deal on Monday, arguing it’s in the best interest of all parties, including the United States. And they said they are confident it will be able to win regulatory approval.
Although US Steel was once the world’s most valuable company, it has been in decline for decades along with the broader domestic steel industry
The-CNN-Wire™ & © 2023 Cable News Network, Inc., a Warner Bros. Discovery Company. All rights reserved.
https://www.wral.com/story/growing-bipartisan-opposition-to-us-steel-purchase-by-japanese-might-not-be-enough-to-block-deal/21202784/
Growing bipartisan opposition to US Steel purchase by Japanese might not be enough to block deal
with MMGYS A,I. Soundtrack U,S. Steels new Japan theme song "World is Mine"
New York (CNN) — Bipartisan opposition is growing to the proposed $14.1 billion acquisition of US Steel by Japan’s largest steelmaker, but that is unlikely to be enough to block the purchase, according to an expert in foreign investment deals.
Posted 12:18 p.m. Today - Updated 12:17 p.m. Today
By Matt Egan and Chris Isidore, CNN
New York (CNN) — Bipartisan opposition is growing to the proposed $14.1 billion acquisition of US Steel by Japan’s largest steelmaker, but that is unlikely to be enough to block the purchase, according to an expert in foreign investment deals.
A trio of Republican senators Tuesday called for a panel of US officials to block Nippon Steel’s takeover of US Steel due to national security concerns.
WRAL News Brief
Sens. JD Vance, Josh Hawley and Marco Rubio wrote Treasury Secretary Janet Yellen a letter on Tuesday warning the US Steel deal has “dire implications for the industrial base of the United States” and “was not entered into with US national security in mind.”
Yellen chairs the Committee on Foreign Investment in the United States (CFIUS), an interagency panel empowered to review transactions involving foreign investment in America to determine the impact on national security. CFIUS members include the heads of the Department of Defense, State, Homeland Security and Justice.
CFIUS “can and should block the acquisition of US Steel by NSC, a company whose allegiances clearly lie with a foreign state and whose record in the United States is deeply flawed,” Vance, Hawley and Rubio said. They argued CFIUS should launch a review of the deal unilaterally, especially because US Steel received competitive bids from American companies.
The lawmakers note that domestic steel production is “vital to US national security” and cited steps taken by Republican and Democratic administrations to bolster the steel industry. Vance is the junior senator from Ohio, while Hawley and Rubio represent Missouri and Florida, respectively.
“Allowing foreign companies to buy out American companies and enjoy our trade protections subverts the very purpose for which those protections were put in place,” the Republican lawmakers wrote.
Vance, Hawley and Rubio cautioned that Nippon Steel “does not share US Steel’s storied connection to the United States and its financial interests are tied to those of Japan.” The lawmakers note that Nippon has previously been found guilty of unlawfully dumping flat-rolled steel products in the United States.
Ohio’s other senator, Democrat Sherrod Brown, also issued a statement Monday opposing the deal.
“A foreign company should not be able to swoop in, ignore the voices of union workers, and buy a major American steel manufacturer behind closed doors,” said Brown, who faces reelection in 2024. “Nippon and US Steel have insulted American steelworkers by refusing to give them a seat at the table and raised grave concerns about their commitment to the future of the American steel industry.”
Brown said that if US Steel is going to be sold, it should be purchased by Ohio-based Cleveland Cliffs, which had the support of the United Steelworkers union in its failed effort earlier this year to buy US Steel.
Sen. Joe Manchin, the West Virginia Democrat who is not seeking reelection but is still considering an independent campaign for president, also attacked the sale of the company to a foreign rival.
“This is a major blow to the American steel industry which has been instrumental in making us the superpower of the world and a direct threat to our national security,” he said in a statement Tuesday. “At a time when domestic manufacturing – including in the US steel market – is facing increased competition from unfair trade, we must be doing everything we can to prevent any further deterioration of American ownership
Sen. John Fetterman, a Pennsylvania Democrat, also decried the proposed sale.
“It’s absolutely outrageous that US Steel has agreed to sell themselves to a foreign company,” Fetterman said Monday in a statement. “Steel is always about security – both our national security and the economic security of our steel communities. I am committed to doing anything I can do, using my platform and my position, to block this foreign sale.”
And the United Steelworkers union is also on record opposing the deal.
The proposed deal “demonstrates the same greedy, shortsighted attitude that has guided US Steel for far too long,” said USW President David McCall. “We remained open throughout this process to working with US Steel to keep this iconic American company domestically owned and operated, but instead it chose to push aside the concerns of its dedicated workforce and sell to a foreign-owned company.”
Blocking deal still is ‘quite unlikely’
Despite the growing political opposition to the deal from politicians and the United Steelworkers union, it is unlikely that CFIUS would block the deal by a close US ally such as Japan, said Michael Leiter, head of the CFIUS and national security practices at law firm Skadden, Arps.
“This has never happened before for a Japanese buyer of a US business - even in the height of US-Japan trade tensions in the 1980s and 1990s - and it seems quite unlikely that it would do so here,” he told CNN.
No matter the recommendation of CFIUS, the final decision rests with the president, Leiter said. Even with the political pressure from the both parties and the importance of Ohio and Pennsylvania in next year’s election, Leiter doesn’t think Biden would act to block the deal.
“Were President Biden to reject the deal this would immediately create a significant issue with our Japanese allies given the importance of collaboration on other critical issues such as China and semiconductor production and supply chains,” he said.
Representatives from US Steel did not respond to requests for comment on the letter or Brown and Fetterman’s objections. Treasury declined to comment.
US Steel officials touted the deal on Monday, arguing it’s in the best interest of all parties, including the United States. And they said they are confident it will be able to win regulatory approval.
Although US Steel was once the world’s most valuable company, it has been in decline for decades along with the broader domestic steel industry
The-CNN-Wire™ & © 2023 Cable News Network, Inc., a Warner Bros. Discovery Company. All rights reserved.
https://www.wral.com/story/growing-bipartisan-opposition-to-us-steel-purchase-by-japanese-might-not-be-enough-to-block-deal/21202784/
American's furious after biggest auto steel supplier sold off to Japan
American's furious after biggest auto steel supplier sold off to Japan
Rob McEwen: To me, these are opportune times
GOLDINVEST
Premiered 22 hours ago #robmcewen #mining #miningstocks
In this extensive Goldinvest.de interview with mining legend, Goldcorp founder, and McEwen Mining CEO Rob McEwen we talk about the state of the (gold) mining industry and the need for changes in the sector to be able to attract sufficient funding going forward, to continue fulfilling its essential role in modern society.
Rob also tells us, why he is investing in the junior mining / exploration space and we talk about two interesting companies in particular that we at Goldinvest.de are following, too.
Rob McEwen: To me, these are opportune times
GOLDINVEST
Premiered 22 hours ago #robmcewen #mining #miningstocks
In this extensive Goldinvest.de interview with mining legend, Goldcorp founder, and McEwen Mining CEO Rob McEwen we talk about the state of the (gold) mining industry and the need for changes in the sector to be able to attract sufficient funding going forward, to continue fulfilling its essential role in modern society.
Rob also tells us, why he is investing in the junior mining / exploration space and we talk about two interesting companies in particular that we at Goldinvest.de are following, too.
Sorry America loses U S Steel
with MMGYS Soundtrack
Continuing full coverage
US Steel accepts $14.1 billion Nippon bid after rejecting Cliffs
Bloomberg News | December 18, 2023 | 6:48 am Markets Asia USA Iron Ore
Credit: US Steel
Nippon Steel Corp. will buy United States Steel Corp. for $14.1 billion to create the world’s second-largest steel company — and the biggest outside of China — with a key role in supplying American manufacturers and automakers.
The deal caps months of uncertainty over the future of US Steel, an icon of American industry, which has been considering potential transactions since it rejected an offer from rival Cleveland-Cliffs Inc. for $7.25 billion in mid-August.
For Nippon, Japan’s biggest steel producer, the transaction provides a large foothold in the American steel industry at a time when domestic demand is poised to benefit from rising infrastructure spending. US Steel is a key supplier to the lucrative automotive market in particular. The Japanese company has been seeking growth overseas to offset a litany of challenges facing its current operations.
Nippon will pay $55 a share in cash, the companies said in a statement. The deal announced Monday is a 142% premium to US Steel’s share price on the last trading day before it announced the review and Cliffs revealed it had made a bid. The company’s shares jumped 25% to $49.30 at 9:36 a.m. in New York. Cliffs was up 7.2%.
The deal would create a steel giant with plants stretching from Slovakia to Osaka to Pennsylvania. It would be the world’s second-biggest steelmaker with more than 86 million tons of capacity, leapfrogging Luxembourg-headquartered ArcelorMittal SA, according to a company presentation and Bloomberg calculations. Only China’s state-owned China Baowu Steel Group Corp. would have more.
Nippon has been seeking growth abroad as it struggles with a slowdown in domestic demand, the rapidly weakening yen and a surge in competition across Asia. The firm has been shutting blast furnaces in Japan due to weak needs.
In a presentation, Nippon said it was expanding its US presence to benefit from a growing population, cheap energy and renewed focus on building infrastructure. The company said it had secured commitments to finance the transaction from Japanese banks.
For American industry, the takeover will mark the end of an era. US Steel traces its roots back to 1901 when J. Pierpont Morgan merged a collection of assets with Andrew Carnegie’s Carnegie Steel Co.
It has undergone a dramatic shift in recent years under CEO David B. Burritt, as its investment focus pivoted away from traditional blast-furnace production of steel from iron ore, toward more modern and less-polluting plants that remelt metal scrap instead.
The company took center stage in the global steel industry in August, when it revealed it had rejected an offer from Cliffs and begun a strategic review.
The announcement kicked off a dramatic few weeks, as the influential United Steelworkers union threw its support behind Cliffs’ pugnacious chief executive, while a little-known buyer startled the industry with an even larger offer, before abruptly pulling its interest days later.
As US Steel considered its options, analysts have speculated certain buyers would be more focused the firm’s Big River Steel plant in Arkansas, which uses the greener and more efficient modern electric arc furnaces, while seeking to offload the older blast furnace assets.
Nippon Steel executive vice president Takahiro Mori said Nippon’s plan is to continue with US Steel’s existing plans for the company, including completing the Big River project and continuing to operate the legacy steelmaking assets. Mori didn’t rule out changes down the road.
“We are supportive of US Steel’s plan,” Miro said in an interview. “After a few years we may think in another way, but at this moment we are just following the current plan.”
Passing CFIUS
The deal requires US Steel shareholder approval, and will need to clear regulators, including the Committee on Foreign Investment in the US, or CFIUS. Some US politicians had already come out criticizing the idea of a foreign purchaser of the iconic American company while US Steel was assessing potential bids.
Nippon’s Mori said he is confident on clearing the hurdle, pointing to Japan’s strong relationship with the US. “I don’t have any concern about passing CFIUS,” he said.
The two companies have agreed that US Steel will keep its name and headquarters. Nippon also said it will honor all agreements US Steel has with the USW, which has repeatedly said it won’t support any foreign bidders.
Relations between the USW and US Steel have remained strained. USW president David McCall said he received a call at 6 a.m. New York time from US Steel CEO Burritt, who left a voicemail. McCall said it would have been the first time he had spoken to the executive since becoming the union’s top official in September, following the death of former president Tom Conway.
“This is not how this is going to work,” McCall said in an interview. “We don’t know Nippon.”
The union has a transferable right — which it has said it would pass on to Cliffs — to counterbid after an offer for US Steel as part of its collective bargaining agreement.
However, Cliffs said in a statement it congratulated US Steel on the deal and wished it well with the transaction. Cliffs will refocus its capital allocation priorities towards more aggressive share buybacks, CEO Lourenco Goncalves said.
Citigroup Inc. is acting as financial adviser to Nippon Steel, while Barclays Plc, Goldman Sachs Group Inc. and Evercore Inc. are advising US Steel.
(By Joe Deaux, Eddie Spence and Stephen Stapczynski)
https://www.mining.com/web/nippon-steel-agrees-to-buy-us-steel-for-14-1-billion/
Sorry America loses U S Steel
with MMGYS Soundtrack
Continuing full coverage
US Steel accepts $14.1 billion Nippon bid after rejecting Cliffs
Bloomberg News | December 18, 2023 | 6:48 am Markets Asia USA Iron Ore
Credit: US Steel
Nippon Steel Corp. will buy United States Steel Corp. for $14.1 billion to create the world’s second-largest steel company — and the biggest outside of China — with a key role in supplying American manufacturers and automakers.
The deal caps months of uncertainty over the future of US Steel, an icon of American industry, which has been considering potential transactions since it rejected an offer from rival Cleveland-Cliffs Inc. for $7.25 billion in mid-August.
For Nippon, Japan’s biggest steel producer, the transaction provides a large foothold in the American steel industry at a time when domestic demand is poised to benefit from rising infrastructure spending. US Steel is a key supplier to the lucrative automotive market in particular. The Japanese company has been seeking growth overseas to offset a litany of challenges facing its current operations.
Nippon will pay $55 a share in cash, the companies said in a statement. The deal announced Monday is a 142% premium to US Steel’s share price on the last trading day before it announced the review and Cliffs revealed it had made a bid. The company’s shares jumped 25% to $49.30 at 9:36 a.m. in New York. Cliffs was up 7.2%.
The deal would create a steel giant with plants stretching from Slovakia to Osaka to Pennsylvania. It would be the world’s second-biggest steelmaker with more than 86 million tons of capacity, leapfrogging Luxembourg-headquartered ArcelorMittal SA, according to a company presentation and Bloomberg calculations. Only China’s state-owned China Baowu Steel Group Corp. would have more.
Nippon has been seeking growth abroad as it struggles with a slowdown in domestic demand, the rapidly weakening yen and a surge in competition across Asia. The firm has been shutting blast furnaces in Japan due to weak needs.
In a presentation, Nippon said it was expanding its US presence to benefit from a growing population, cheap energy and renewed focus on building infrastructure. The company said it had secured commitments to finance the transaction from Japanese banks.
For American industry, the takeover will mark the end of an era. US Steel traces its roots back to 1901 when J. Pierpont Morgan merged a collection of assets with Andrew Carnegie’s Carnegie Steel Co.
It has undergone a dramatic shift in recent years under CEO David B. Burritt, as its investment focus pivoted away from traditional blast-furnace production of steel from iron ore, toward more modern and less-polluting plants that remelt metal scrap instead.
The company took center stage in the global steel industry in August, when it revealed it had rejected an offer from Cliffs and begun a strategic review.
The announcement kicked off a dramatic few weeks, as the influential United Steelworkers union threw its support behind Cliffs’ pugnacious chief executive, while a little-known buyer startled the industry with an even larger offer, before abruptly pulling its interest days later.
As US Steel considered its options, analysts have speculated certain buyers would be more focused the firm’s Big River Steel plant in Arkansas, which uses the greener and more efficient modern electric arc furnaces, while seeking to offload the older blast furnace assets.
Nippon Steel executive vice president Takahiro Mori said Nippon’s plan is to continue with US Steel’s existing plans for the company, including completing the Big River project and continuing to operate the legacy steelmaking assets. Mori didn’t rule out changes down the road.
“We are supportive of US Steel’s plan,” Miro said in an interview. “After a few years we may think in another way, but at this moment we are just following the current plan.”
Passing CFIUS
The deal requires US Steel shareholder approval, and will need to clear regulators, including the Committee on Foreign Investment in the US, or CFIUS. Some US politicians had already come out criticizing the idea of a foreign purchaser of the iconic American company while US Steel was assessing potential bids.
Nippon’s Mori said he is confident on clearing the hurdle, pointing to Japan’s strong relationship with the US. “I don’t have any concern about passing CFIUS,” he said.
The two companies have agreed that US Steel will keep its name and headquarters. Nippon also said it will honor all agreements US Steel has with the USW, which has repeatedly said it won’t support any foreign bidders.
Relations between the USW and US Steel have remained strained. USW president David McCall said he received a call at 6 a.m. New York time from US Steel CEO Burritt, who left a voicemail. McCall said it would have been the first time he had spoken to the executive since becoming the union’s top official in September, following the death of former president Tom Conway.
“This is not how this is going to work,” McCall said in an interview. “We don’t know Nippon.”
The union has a transferable right — which it has said it would pass on to Cliffs — to counterbid after an offer for US Steel as part of its collective bargaining agreement.
However, Cliffs said in a statement it congratulated US Steel on the deal and wished it well with the transaction. Cliffs will refocus its capital allocation priorities towards more aggressive share buybacks, CEO Lourenco Goncalves said.
Citigroup Inc. is acting as financial adviser to Nippon Steel, while Barclays Plc, Goldman Sachs Group Inc. and Evercore Inc. are advising US Steel.
(By Joe Deaux, Eddie Spence and Stephen Stapczynski)
https://www.mining.com/web/nippon-steel-agrees-to-buy-us-steel-for-14-1-billion/
United Steelworkers union blasts $15B U.S. Steel-Nippon deal
by Nathan Bomey
, author of
Axios Closer
The United Steelworkers (USW) union on Monday ripped U.S. Steel and its proposed acquirer, Nippon Steel, for agreeing to a $15 billion deal without its approval.
Why it matters: The USW's response sets the stage for a fight over the transaction. The union has said previously that its contract with U.S. Steel requires any prospective buyer to agree to a new labor deal before a sale can be finalized.
Driving the news: On Monday, Japan-based Nippon's announced a bid for U.S. Steel — an iconic American company that powered the nation's building boom in the 1900s, but later became a symbol of industrial decline.
However, the deal is likely to attract tough regulatory scrutiny, especially given the prospective buyer is not US-based.
Anti-trust scrutiny is not a concern "because they have very little footprint in North America," CFRA Research's Matthew Miller tells Axios.
But, he adds, the deal could face scrutiny from the U.S. government over the fact that a foreign company would be acquiring critical American assets.
What they're saying: USW President David McCall hammered the deal as "greedy" and "shortsighted" and pledged to "exercise the full measure of our agreements to ensure that whatever happens next with U.S. Steel, we protect the good, family-sustaining jobs we bargained."
"Neither U.S. Steel nor Nippon reached out to our union regarding the deal, which is in itself a violation of our partnership agreement that requires U.S. Steel to notify us of a change in control or business conditions," McCall said.
"Based on this alone, the USW does not believe that Nippon understands the full breadth of the obligations of all our agreements, and we do not know whether it has the capacity to live up to our existing contract."
He also criticized U.S. Steel for arranging a deal to "sell to a foreign-owned company."
Flashback: Earlier this year, U.S. Steel rejected a bid by U.S.-based Cleveland-Cliffs, and said it would explore strategic alternatives.
Potential rival bids by Esmark and ArcelorMittal never came to fruition after the USW said it had transferred its bidding rights to Cleveland-Cliffs.
The Cleveland-Cliffs deal also faced opposition from the auto industry, one of the steel sector's biggest clients.
The other side: Representatives from U.S. Steel and Nippon Steel did not immediately respond to Axios' requests for comment on the USW's statement.
The big question: Whether U.S. Steel get this deal across the finish line amid opposition from the USW and political scrutiny.
2024 "is a presidential election year, and this is going to be a political lightning rod," Miller says. "You don't want to be on the wrong side of that."
https://www.axios.com/2023/12/18/ussteel-nippon-usw-steelworkers
This has some shades of the teck deal will go on well into 2024
but no worries..... I have the juke box all keyed up ....hehe
United Steelworkers union blasts $15B U.S. Steel-Nippon deal
by Nathan Bomey
, author of
Axios Closer
The United Steelworkers (USW) union on Monday ripped U.S. Steel and its proposed acquirer, Nippon Steel, for agreeing to a $15 billion deal without its approval.
Why it matters: The USW's response sets the stage for a fight over the transaction. The union has said previously that its contract with U.S. Steel requires any prospective buyer to agree to a new labor deal before a sale can be finalized.
Driving the news: On Monday, Japan-based Nippon's announced a bid for U.S. Steel — an iconic American company that powered the nation's building boom in the 1900s, but later became a symbol of industrial decline.
However, the deal is likely to attract tough regulatory scrutiny, especially given the prospective buyer is not US-based.
Anti-trust scrutiny is not a concern "because they have very little footprint in North America," CFRA Research's Matthew Miller tells Axios.
But, he adds, the deal could face scrutiny from the U.S. government over the fact that a foreign company would be acquiring critical American assets.
What they're saying: USW President David McCall hammered the deal as "greedy" and "shortsighted" and pledged to "exercise the full measure of our agreements to ensure that whatever happens next with U.S. Steel, we protect the good, family-sustaining jobs we bargained."
"Neither U.S. Steel nor Nippon reached out to our union regarding the deal, which is in itself a violation of our partnership agreement that requires U.S. Steel to notify us of a change in control or business conditions," McCall said.
"Based on this alone, the USW does not believe that Nippon understands the full breadth of the obligations of all our agreements, and we do not know whether it has the capacity to live up to our existing contract."
He also criticized U.S. Steel for arranging a deal to "sell to a foreign-owned company."
Flashback: Earlier this year, U.S. Steel rejected a bid by U.S.-based Cleveland-Cliffs, and said it would explore strategic alternatives.
Potential rival bids by Esmark and ArcelorMittal never came to fruition after the USW said it had transferred its bidding rights to Cleveland-Cliffs.
The Cleveland-Cliffs deal also faced opposition from the auto industry, one of the steel sector's biggest clients.
The other side: Representatives from U.S. Steel and Nippon Steel did not immediately respond to Axios' requests for comment on the USW's statement.
The big question: Whether U.S. Steel get this deal across the finish line amid opposition from the USW and political scrutiny.
2024 "is a presidential election year, and this is going to be a political lightning rod," Miller says. "You don't want to be on the wrong side of that."
https://www.axios.com/2023/12/18/ussteel-nippon-usw-steelworkers
This has some shades of the teck deal will go on well into 2024
but don't worry I have the juke box all keyed up ....hehe
Nippon Steel Corporation (NSC) to Acquire U. S. Steel, Moving Forward Together as the ‘Best Steelmaker with World-Leading Capabilities’
https://investors.ussteel.com/news-events/news-releases/detail/659/nippon-steel-corporation-nsc-to-acquire-u-s-steel
Nippon Steel Corporation (NSC) to Acquire U. S. Steel, Moving Forward Together as the ‘Best Steelmaker with World-Leading Capabilities’
https://investors.ussteel.com/news-events/news-releases/detail/659/nippon-steel-corporation-nsc-to-acquire-u-s-steel
Board Views Best with Iphone ~
Friedland says $15,000/t copper price needed to spur new mines
with MMGYS Soundtrack
Bloomberg News | December 15, 2023 | 11:13 am Markets Top Companies Latin America Copper
Friedland’s Ivanhoe Electric Seeks as Much as $180 Million in IPO
Robert Friedland, founder and chairman of Ivanhoe Mines. (Image: Screenshot from PENDA Productions video | Vimeo)
Copper prices need to nearly double in order to prompt mining companies to build costly mines to meet rising demand for critical materials, according to billionaire Robert Friedland.
The mining magnate said that forecasts of copper prices reaching $9,000 a metric ton next year isn’t enough to stimulate the industry to take on risks of building huge, capital intensive mines, especially in Latin America.
“We probably need about $15,000 a ton, stable for a long period of time, before the industry can really gear up and build those giant mines,” Ivanhoe Mines Ltd.’s founder and executive co-chairman said Friday in an interview on Bloomberg Television.
Demand for metals like copper is set to jump as nations mandate cleaner energy technology while vying to develop their own supply chains. Meanwhile, a slew of major setbacks at key mining operations is seen tightening the market for the wiring-metal in the coming year, erasing a large surplus that analysts had been expecting going into 2024.
Copper prices on the London Metal Exchange traded at $8,531 a ton on Friday.
(By Alix Steel, Dani Burger and Jacob Lorinc)
Read More: The world’s copper supply is suddenly looking scarce
https://www.mining.com/web/friedland-says-15000-t-copper-price-needed-to-spur-new-mines/
Friedland says $15,000/t copper price needed to spur new mines
with MMGYS Soundtrack
Bloomberg News | December 15, 2023 | 11:13 am Markets Top Companies Latin America Copper
Friedland’s Ivanhoe Electric Seeks as Much as $180 Million in IPO
Robert Friedland, founder and chairman of Ivanhoe Mines. (Image: Screenshot from PENDA Productions video | Vimeo)
Copper prices need to nearly double in order to prompt mining companies to build costly mines to meet rising demand for critical materials, according to billionaire Robert Friedland.
The mining magnate said that forecasts of copper prices reaching $9,000 a metric ton next year isn’t enough to stimulate the industry to take on risks of building huge, capital intensive mines, especially in Latin America.
“We probably need about $15,000 a ton, stable for a long period of time, before the industry can really gear up and build those giant mines,” Ivanhoe Mines Ltd.’s founder and executive co-chairman said Friday in an interview on Bloomberg Television.
Demand for metals like copper is set to jump as nations mandate cleaner energy technology while vying to develop their own supply chains. Meanwhile, a slew of major setbacks at key mining operations is seen tightening the market for the wiring-metal in the coming year, erasing a large surplus that analysts had been expecting going into 2024.
Copper prices on the London Metal Exchange traded at $8,531 a ton on Friday.
(By Alix Steel, Dani Burger and Jacob Lorinc)
Read More: The world’s copper supply is suddenly looking scarce
https://www.mining.com/web/friedland-says-15000-t-copper-price-needed-to-spur-new-mines/
Copper prices could run as high as $5 per pound in 2024, says Ellis Martin
Kitco Mining
Dec 15, 2023
Next year will be a breakout year for copper, said Ellis Martin, founder of The Ellis Martin Report.
In late-November Martin was interviewed at Resourcing Tomorrow held in London, UK.
“I think we're going to see something we've never really seen before at least in a sustained fashion. We're going to see a rise in the copper market,” said Martin, predicting that the red metal could go as high as $5 a pound next year. “It’s going to be very good for the equities and I believe you'll see more of a consolidation between the majors, the mid- tiers and the juniors.”
Martin cited Rio Tinto’s (NYSE:RIO) recent CAD$6 million investment into Western Copper & Gold’s (TSX:WRN) Casino project as an example. The greenfield copper and gold property, located in the Canadian Yukon territory, is at the feasibility stage.
Regarding the seeming lack of interest by large copper miners in smaller companies, Martin said the former are waiting to time it right.
“They’ve had their eyeballs on everything for a long time, they’ve never taken their eyes off… they’d like to know that there's no more downside, and some signal that this energy transition is going to hold. People will continue to build and manufacture batteries and electric vehicles, and also there's some sort of turn in the general economy of the world which we haven't really seen yet.”
In this bear market, Martin urged resource investors to load up on cheap stocks.
“This is the time where you can hit that five-bagger, 10-bagger, and maybe 20-bagger. If you're patient, you can wait one to two to five years. Now’s the time,” he said.
The interview was sponsored by Aris Mining (TSX:ARIS).
______________
Copper prices could run as high as $5 per pound in 2024, says Ellis Martin
Kitco Mining
Dec 15, 2023
Next year will be a breakout year for copper, said Ellis Martin, founder of The Ellis Martin Report.
In late-November Martin was interviewed at Resourcing Tomorrow held in London, UK.
“I think we're going to see something we've never really seen before at least in a sustained fashion. We're going to see a rise in the copper market,” said Martin, predicting that the red metal could go as high as $5 a pound next year. “It’s going to be very good for the equities and I believe you'll see more of a consolidation between the majors, the mid- tiers and the juniors.”
Martin cited Rio Tinto’s (NYSE:RIO) recent CAD$6 million investment into Western Copper & Gold’s (TSX:WRN) Casino project as an example. The greenfield copper and gold property, located in the Canadian Yukon territory, is at the feasibility stage.
Regarding the seeming lack of interest by large copper miners in smaller companies, Martin said the former are waiting to time it right.
“They’ve had their eyeballs on everything for a long time, they’ve never taken their eyes off… they’d like to know that there's no more downside, and some signal that this energy transition is going to hold. People will continue to build and manufacture batteries and electric vehicles, and also there's some sort of turn in the general economy of the world which we haven't really seen yet.”
In this bear market, Martin urged resource investors to load up on cheap stocks.
“This is the time where you can hit that five-bagger, 10-bagger, and maybe 20-bagger. If you're patient, you can wait one to two to five years. Now’s the time,” he said.
The interview was sponsored by Aris Mining (TSX:ARIS).
______________
Was gold price spike a warning shot? - LFTV Ep 153
Kinesis Money
Dec 15, 2023
In this week’s episode of Live from the Vault, Andrew Maguire answers the audience’s burning questions, shining light on the recent gold price spike and reversal before revealing whether this was a warning shot from the weaponisation he’s been warning us about.
The precious metals expert and whistleblower examines what would happen if the paper market suddenly stopped trading, before taking listeners through what’s driving the ongoing gold and silver price action.
Was gold price spike a warning shot? - LFTV Ep 153
Kinesis Money
Dec 15, 2023
In this week’s episode of Live from the Vault, Andrew Maguire answers the audience’s burning questions, shining light on the recent gold price spike and reversal before revealing whether this was a warning shot from the weaponisation he’s been warning us about.
The precious metals expert and whistleblower examines what would happen if the paper market suddenly stopped trading, before taking listeners through what’s driving the ongoing gold and silver price action.
Aluminium High Grade Dec '23 (Q8Z23)
2,162.75s +64.65 (+3.08%) 12/14/23 [LME]
QUOTE OVERVIEW for Thu, Dec 14th, 2023
https://www.barchart.com/futures/quotes/Q8Z23
Aluminium High Grade Dec '23 (Q8Z23)
2,162.75s +64.65 (+3.08%) 12/14/23 [LME]
QUOTE OVERVIEW for Thu, Dec 14th, 2023
https://www.barchart.com/futures/quotes/Q8Z23
Slouching Back to Babylon
with MMGYS Soundtrack
"We live in an age when breaking the rules for personal profit, cheating if you will, and telling lies about it has become an accepted means of acting in public, quietly fashionable, almost admirable to some, provided that the lying is done skillfully, more as a distortion than an outright whopper, and with style.
What is truth? This could be the vulgar motto for the generation that is passing. Truth is whatever we say it is, and woe to any who dare to disagree with the lie, or bring any light to our fanciful imaginings. The children of the darkness of this world will hate them for it. For they are given over to greed and power, not truth."
Jesse, What Is Truth, 15 June 2016
“The more power a government has, the more it can act arbitrarily according to the whims and desires of the elite, the more it will make war on others and murder its foreign and domestic subjects. And for the elite to sufficiently coalesce to commit itself to murdering its own citizens, there must be a near fanatical, driving interest.
Power can now achieve its potential. Where also the elite have built up frustrations regarding those who have lost power or nonetheless feel threatened by them, where they see them as outside the moral universe, where they have dehumanized them, where the outgroup is culturally or ethnically distinct and the elite perceive them as inferior, or where any other such factors are present, Power will achieve its murderous potential. It simply waits for an excuse, an event of some sort, an assassination, a massacre in a neighboring country, an attempted coup, a famine, or a natural disaster, that will justify beginning the murder en masse.
R. J. Rummel, Death By Government, 1994
“Religion used to be the opium of the people. To those suffering humiliation, pain, illness, and serfdom, religion promised the reward of an after life. But now, we are witnessing a transformation: a true opium of the people is the belief in nothingness after death, the huge solace, the huge comfort of thinking that for our betrayals, our greed, our cowardice, our murders, we are not going to be judged.”
Czeslaw Milosz, Discreet Charm of Nihilism
The equity rally fizzled in the big dogs, aka The Magnificent Seven of tech, grandchildren of the Nifty Fifty, but did spread to the lesser knowns of the Russell 2000.
Gold and silver rallied again, as the The Dollar weakened further.
Gold did give up quite a bit of its gain, but silver stood firm impressively.
VIX bounced a little but remains subdued.
Stock Index option expiration in a triple witch tomorrow.
At some point the most recent gold pool is going to collapse, and the metal may see $100+ rally days.
But until then we can only watch the elites attempting to breath some life back into an obvious equity bubble.
Is this for the year end, a traditional hand off to the bigger fools, or something presaging a miraculous 'soft landing' in which inflation subsides while the economy grows with vigor.
Will otherwise good, educated people throw away their morals, and join the forces of pillage and murder?
Be as mindful of your own soul as your coin purse and stock portfolio, for that is what this is all about.
Have a pleasant evening.
https://jessescrossroadscafe.blogspot.com/
">" />
Slouching Back to Babylon
with MMGYS Soundtrack
"We live in an age when breaking the rules for personal profit, cheating if you will, and telling lies about it has become an accepted means of acting in public, quietly fashionable, almost admirable to some, provided that the lying is done skillfully, more as a distortion than an outright whopper, and with style.
What is truth? This could be the vulgar motto for the generation that is passing. Truth is whatever we say it is, and woe to any who dare to disagree with the lie, or bring any light to our fanciful imaginings. The children of the darkness of this world will hate them for it. For they are given over to greed and power, not truth."
Jesse, What Is Truth, 15 June 2016
“The more power a government has, the more it can act arbitrarily according to the whims and desires of the elite, the more it will make war on others and murder its foreign and domestic subjects. And for the elite to sufficiently coalesce to commit itself to murdering its own citizens, there must be a near fanatical, driving interest.
Power can now achieve its potential. Where also the elite have built up frustrations regarding those who have lost power or nonetheless feel threatened by them, where they see them as outside the moral universe, where they have dehumanized them, where the outgroup is culturally or ethnically distinct and the elite perceive them as inferior, or where any other such factors are present, Power will achieve its murderous potential. It simply waits for an excuse, an event of some sort, an assassination, a massacre in a neighboring country, an attempted coup, a famine, or a natural disaster, that will justify beginning the murder en masse.
R. J. Rummel, Death By Government, 1994
“Religion used to be the opium of the people. To those suffering humiliation, pain, illness, and serfdom, religion promised the reward of an after life. But now, we are witnessing a transformation: a true opium of the people is the belief in nothingness after death, the huge solace, the huge comfort of thinking that for our betrayals, our greed, our cowardice, our murders, we are not going to be judged.”
Czeslaw Milosz, Discreet Charm of Nihilism
The equity rally fizzled in the big dogs, aka The Magnificent Seven of tech, grandchildren of the Nifty Fifty, but did spread to the lesser knowns of the Russell 2000.
Gold and silver rallied again, as the The Dollar weakened further.
Gold did give up quite a bit of its gain, but silver stood firm impressively.
VIX bounced a little but remains subdued.
Stock Index option expiration in a triple witch tomorrow.
At some point the most recent gold pool is going to collapse, and the metal may see $100+ rally days.
But until then we can only watch the elites attempting to breath some life back into an obvious equity bubble.
Is this for the year end, a traditional hand off to the bigger fools, or something presaging a miraculous 'soft landing' in which inflation subsides while the economy grows with vigor.
Will otherwise good, educated people throw away their morals, and join the forces of pillage and murder?
Be as mindful of your own soul as your coin purse and stock portfolio, for that is what this is all about.
Have a pleasant evening.
https://jessescrossroadscafe.blogspot.com/
Sold what I had left yesterday took a year to get this double.
Too long waiting inbetween on this one now so doubt if I play again.
Noticed $EXMT put a additional $7 fee on any sell ticket I never noticed that before and i've played this stock for over 10 years sporadically.
So that's on top of the OTC fee approx. $7
If anyone is playing this stock all I have to say is know what your doing or join a million bag holders
GLTA
Wow we were 6.78 a cup of coffee ago
How I Learned to Stop Worrying and Love the Bubble
with MMGYS Soundtrack
"As a dog returns to its vomit, so a fool returns to his folly. "
Proverbs 26:11
"And in some ways, it creates this false illusion that there are people out there looking out for the interest of taxpayers, the checks and balances that are built into the system are operational, when in fact they're not. And what you're going to see and what we are seeing is it'll be a breakdown of those governmental institutions. And you'll see governments that continue to have policies that feed the interests of -- and I don't want to get clichéd, but the one percent or the .1 percent -- to the detriment of everyone else."
Neil Barofsky, 2012 interview with Bill Moyers
"Now why don't you just take it easy, Group Captain, and please make me a drink of grain alcohol and rainwater, and help yourself to whatever you'd like."
General Jack D. Ripper (Sterling Hayden), Dr. Strangelove
"Where are the leaders? Has our political process become so compromised by powerful interest groups and the threat of character assassination that even the best among us will not dare to speak honestly about the solutions that might bring us back to common sense and fundamental fairness?"
Senator Jim Webb, A Time to Fight, 2008
"General Turgidson, I find this very difficult to understand. I was under the impression that I was the only one in authority to order the use of nuclear weapons."
President Merkin Muffley, Dr. Strangelove
From Wall Street to the White House, it's all about serving the oligarchy, the 1 percent, while maintaing plausible deniability.
The market came in broadly expecting a whipsaw, with the FOMC standing pat with dovish verbiage, and then Jay Powell coming in and raining on the parade with skeptical cautions.
No way Zimbabwe Jay.
Although it must be said that the Street took it much further than he allowed. It reminded me of a college friend who kept seeing 'signs' from a girl for which he pined, but would not actually approach.
I think it would have been interesting to see the FOMC commentary on bubblevision performed by the voice-over actor from The Curse of Oak Island.
Stocks rallied very hard, parabolically surpassing their bubble peaks.
The Dollar dropped off a cliff.
Gold and silver rallied like rockets.
And there is the second phase of the wash and rinse.
VIX did not drop but marked time in place.
Stock option expiration on Friday.
I can feel the hammer getting closer, and closer, to the retail bulls.
But give it some time.
This is not sour grapes. I snagged some serious coin in the miners today, buying them into this recent pounding down the last two days. It was just too contrived and cliché.
Pretty much like all the official 'verbiage' we get these days.
You know how they ran gold up to a new high, ran all the short stops, and then smashed it down into yesterday?
Patented move.
And I think they may have the same play in store for stocks.
But timing and leverage are everything.
Meanwhile, we've got two wars a leaping.
Changed my mind about not using twitter.
Have a pleasant evening.
https://jessescrossroadscafe.blogspot.com/
How I Learned to Stop Worrying and Love the Bubble
with MMGYS Soundtrack
"As a dog returns to its vomit, so a fool returns to his folly. "
Proverbs 26:11
"And in some ways, it creates this false illusion that there are people out there looking out for the interest of taxpayers, the checks and balances that are built into the system are operational, when in fact they're not. And what you're going to see and what we are seeing is it'll be a breakdown of those governmental institutions. And you'll see governments that continue to have policies that feed the interests of -- and I don't want to get clichéd, but the one percent or the .1 percent -- to the detriment of everyone else."
Neil Barofsky, 2012 interview with Bill Moyers
"Now why don't you just take it easy, Group Captain, and please make me a drink of grain alcohol and rainwater, and help yourself to whatever you'd like."
General Jack D. Ripper (Sterling Hayden), Dr. Strangelove
"Where are the leaders? Has our political process become so compromised by powerful interest groups and the threat of character assassination that even the best among us will not dare to speak honestly about the solutions that might bring us back to common sense and fundamental fairness?"
Senator Jim Webb, A Time to Fight, 2008
"General Turgidson, I find this very difficult to understand. I was under the impression that I was the only one in authority to order the use of nuclear weapons."
President Merkin Muffley, Dr. Strangelove
From Wall Street to the White House, it's all about serving the oligarchy, the 1 percent, while maintaing plausible deniability.
The market came in broadly expecting a whipsaw, with the FOMC standing pat with dovish verbiage, and then Jay Powell coming in and raining on the parade with skeptical cautions.
No way Zimbabwe Jay.
Although it must be said that the Street took it much further than he allowed. It reminded me of a college friend who kept seeing 'signs' from a girl for which he pined, but would not actually approach.
I think it would have been interesting to see the FOMC commentary on bubblevision performed by the voice-over actor from The Curse of Oak Island.
Stocks rallied very hard, parabolically surpassing their bubble peaks.
The Dollar dropped off a cliff.
Gold and silver rallied like rockets.
And there is the second phase of the wash and rinse.
VIX did not drop but marked time in place.
Stock option expiration on Friday.
I can feel the hammer getting closer, and closer, to the retail bulls.
But give it some time.
This is not sour grapes. I snagged some serious coin in the miners today, buying them into this recent pounding down the last two days. It was just too contrived and cliché.
Pretty much like all the official 'verbiage' we get these days.
You know how they ran gold up to a new high, ran all the short stops, and then smashed it down into yesterday?
Patented move.
And I think they may have the same play in store for stocks.
But timing and leverage are everything.
Meanwhile, we've got two wars a leaping.
Changed my mind about not using twitter.
Have a pleasant evening.
https://jessescrossroadscafe.blogspot.com/
How I Learned to Stop Worrying and Love the Bubble
with MMGYS Soundtrack
"As a dog returns to its vomit, so a fool returns to his folly. "
Proverbs 26:11
"And in some ways, it creates this false illusion that there are people out there looking out for the interest of taxpayers, the checks and balances that are built into the system are operational, when in fact they're not. And what you're going to see and what we are seeing is it'll be a breakdown of those governmental institutions. And you'll see governments that continue to have policies that feed the interests of -- and I don't want to get clichéd, but the one percent or the .1 percent -- to the detriment of everyone else."
Neil Barofsky, 2012 interview with Bill Moyers
"Now why don't you just take it easy, Group Captain, and please make me a drink of grain alcohol and rainwater, and help yourself to whatever you'd like."
General Jack D. Ripper (Sterling Hayden), Dr. Strangelove
"Where are the leaders? Has our political process become so compromised by powerful interest groups and the threat of character assassination that even the best among us will not dare to speak honestly about the solutions that might bring us back to common sense and fundamental fairness?"
Senator Jim Webb, A Time to Fight, 2008
"General Turgidson, I find this very difficult to understand. I was under the impression that I was the only one in authority to order the use of nuclear weapons."
President Merkin Muffley, Dr. Strangelove
From Wall Street to the White House, it's all about serving the oligarchy, the 1 percent, while maintaing plausible deniability.
The market came in broadly expecting a whipsaw, with the FOMC standing pat with dovish verbiage, and then Jay Powell coming in and raining on the parade with skeptical cautions.
No way Zimbabwe Jay.
Although it must be said that the Street took it much further than he allowed. It reminded me of a college friend who kept seeing 'signs' from a girl for which he pined, but would not actually approach.
I think it would have been interesting to see the FOMC commentary on bubblevision performed by the voice-over actor from The Curse of Oak Island.
Stocks rallied very hard, parabolically surpassing their bubble peaks.
The Dollar dropped off a cliff.
Gold and silver rallied like rockets.
And there is the second phase of the wash and rinse.
VIX did not drop but marked time in place.
Stock option expiration on Friday.
I can feel the hammer getting closer, and closer, to the retail bulls.
But give it some time.
This is not sour grapes. I snagged some serious coin in the miners today, buying them into this recent pounding down the last two days. It was just too contrived and cliché.
Pretty much like all the official 'verbiage' we get these days.
You know how they ran gold up to a new high, ran all the short stops, and then smashed it down into yesterday?
Patented move.
And I think they may have the same play in store for stocks.
But timing and leverage are everything.
Meanwhile, we've got two wars a leaping.
Changed my mind about not using twitter.
Have a pleasant evening.
https://jessescrossroadscafe.blogspot.com/
Hunting for Gold & Water In My Abandoned Ghost Town!
Ghost Town Living
Premiered 20 hours ago #15 on Trending
Hello there! This past month was a great one up here at Cerro Gordo! We had a lot of experts come to look for things like water, gold, and wood. We made progress on a lot of projects and even started some new ones.
Hunting for Gold & Water In My Abandoned Ghost Town!
Ghost Town Living
Premiered 20 hours ago #15 on Trending
Hello there! This past month was a great one up here at Cerro Gordo! We had a lot of experts come to look for things like water, gold, and wood. We made progress on a lot of projects and even started some new ones.
The Most Valuable Plot Of Land In America
The Most Valuable Plot Of Land In America
Looks like .33 was the magic number 5X volume today
Gold Speaks Uncomfortable Truths
with MMGYS soundtrack
"For the game had never been fair, the dice were loaded. They were swindlers and thieves of pennies and dimes, and they had been trapped and put out of the way by the swindlers and thieves of millions of dollars."
Upton Sinclair, The Jungle
"Gold has worked down from Alexander's time. When something holds good for two thousand years I do not believe it can be so because of prejudice or mistaken theory."
Bernard Baruch
“Absolute power does not corrupt absolutely, absolute power attracts the corruptible.”
Frank Herbert, Children of Dune
“Sometimes people hold a core belief that is very strong. When they are presented with evidence that works against that belief, the new evidence cannot be accepted. It would create a feeling that is extremely uncomfortable, called cognitive dissonance. And because it is so important to protect the core belief, they will rationalize, ignore and even deny anything that doesn't fit in with the core belief.”
Frantz Fanon
"The press is the hired agent of a monied system, and set up for no other purpose than to tell lies where their interests are involved."
Henry Adams, The Letters of Henry Adams
The equity markets were divergent today, with the SP500 moving higher, but the tech heavy NDX finishing decidedly lower.
Gold fell, as the Dollar rose sharply.
Silver rallied once again, in step more with the SP 500. It has the appearance of a short squeeze.
VIX fell.
Have a pleasant evening.
https://jessescrossroadscafe.blogspot.com/
more cards here
Gold Speaks Uncomfortable Truths
with MMGYS soundtrack
"For the game had never been fair, the dice were loaded. They were swindlers and thieves of pennies and dimes, and they had been trapped and put out of the way by the swindlers and thieves of millions of dollars."
Upton Sinclair, The Jungle
"Gold has worked down from Alexander's time. When something holds good for two thousand years I do not believe it can be so because of prejudice or mistaken theory."
Bernard Baruch
“Absolute power does not corrupt absolutely, absolute power attracts the corruptible.”
Frank Herbert, Children of Dune
“Sometimes people hold a core belief that is very strong. When they are presented with evidence that works against that belief, the new evidence cannot be accepted. It would create a feeling that is extremely uncomfortable, called cognitive dissonance. And because it is so important to protect the core belief, they will rationalize, ignore and even deny anything that doesn't fit in with the core belief.”
Frantz Fanon
"The press is the hired agent of a monied system, and set up for no other purpose than to tell lies where their interests are involved."
Henry Adams, The Letters of Henry Adams
The equity markets were divergent today, with the SP500 moving higher, but the tech heavy NDX finishing decidedly lower.
Gold fell, as the Dollar rose sharply.
Silver rallied once again, in step more with the SP 500. It has the appearance of a short squeeze.
VIX fell.
Have a pleasant evening.
https://jessescrossroadscafe.blogspot.com/
more cards here
New Video out Watch it here.....“Right Now is When You Can Make 5x-10x Your Money Just Catching the Cycle” says $FURY CEO Tim Clark
MiningStockEducation.com
Nov 30, 2023 #gold #goldstocks #goldinvesting
“Right Now is When You Can Make 5x-10x Your Money Just Catching the Cycle” says Fury Gold CEO Tim Clark. “The problem here is the market. The problem is the lack of liquidity in the junior space. But that will change. And I think my message to investors now is: I’m not asking you to go out and buy a huge chunk of $FURY. But I think you’d be prudent to buy some. Because once this market moves, because of a lack of liquidity, you’ll have a hard time getting in at a reasonable price and you’ll be sitting there doubting yourself as it is up 50% wondering if it is going to go up 100%. And if it goes up 100% you are going to be killing yourself that you did not get in.”
Currently $FURY has a C$78m market cap with a $61m treasury in $DV.v shares ($53m) and cash ($8m). So unlike most gold explorers now, the company does not have financing risk. Functionally, $FURY is currently a call option on Dolly Varden Silver ($DV.v).
SVP Exploration Bryan Atkinson reviews the just-released positive infill drill results from the Hinge Target at the high-grade Eau Claire gold project located in the Eeyou Istchee Territory in the James Bay region of Quebec. The Hinge Target infill program has increased confidence in the geological model and potential for expansion of the Eau Claire resource to the west. Drilling continues to intercept multiple zones of gold mineralization including 5.5 metres (m) of 4.52g/t gold and 3.0m of 3.34g/t gold from 23EC-069; 1.0m of 20.20g/t gold and 3.5m of 3.51g/t gold from 23EC-070; 1.0m of 19.55g/t gold from 23EC-066; and 3.5m of 3.82g/t gold from 23EC-067.
“Right Now is When You Can Make 5x-10x Your Money Just Catching the Cycle” says $FURY CEO Tim Clark
MiningStockEducation.com
Nov 30, 2023 #gold #goldstocks #goldinvesting
“Right Now is When You Can Make 5x-10x Your Money Just Catching the Cycle” says Fury Gold CEO Tim Clark. “The problem here is the market. The problem is the lack of liquidity in the junior space. But that will change. And I think my message to investors now is: I’m not asking you to go out and buy a huge chunk of $FURY. But I think you’d be prudent to buy some. Because once this market moves, because of a lack of liquidity, you’ll have a hard time getting in at a reasonable price and you’ll be sitting there doubting yourself as it is up 50% wondering if it is going to go up 100%. And if it goes up 100% you are going to be killing yourself that you did not get in.”
Currently $FURY has a C$78m market cap with a $61m treasury in $DV.v shares ($53m) and cash ($8m). So unlike most gold explorers now, the company does not have financing risk. Functionally, $FURY is currently a call option on Dolly Varden Silver ($DV.v).
SVP Exploration Bryan Atkinson reviews the just-released positive infill drill results from the Hinge Target at the high-grade Eau Claire gold project located in the Eeyou Istchee Territory in the James Bay region of Quebec. The Hinge Target infill program has increased confidence in the geological model and potential for expansion of the Eau Claire resource to the west. Drilling continues to intercept multiple zones of gold mineralization including 5.5 metres (m) of 4.52g/t gold and 3.0m of 3.34g/t gold from 23EC-069; 1.0m of 20.20g/t gold and 3.5m of 3.51g/t gold from 23EC-070; 1.0m of 19.55g/t gold from 23EC-066; and 3.5m of 3.82g/t gold from 23EC-067.