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Nice article speaking to what the author sees coming for dedollarization. This fellow leans more to where Every and Johnson were going in the debate.
He thinks the dollar is losing backing, but it will take time to make the switch to something better.
https://blogs.lse.ac.uk/usappblog/2024/02/22/long-read-the-beginning-of-the-end-for-the-us-dollars-global-dominance/
I'm skeptical the Fed is going to begin dropping rates unless there's some event that REQUIRES they do so. Inflation is not close to their 2% target and I don't see it getting there unless there's a deflationary event that causes it to happen. That may be what the Fed wants to see from behind the curtain. An event that will quell inflation in the time being.
The market thinks everything is under control and the Banksters can manage a measured move lower with rates. I'm doubtful that happens personally.
So, IMO we most likely see another emergency, fire alarm coming soon and depending on how severe the issues are should bring the markets down in a big way.
We never seem to know what the real problems are until they surface and are exposed, but we know it could be a number of different things.
When the CEO's and bankers like Jamie Dimon start unloading their shares IMO that's a sign to start selling too.
Jamie Dimon selling more JPM shares. For some reason this article says this is the first time he's unloading shares. I posted his selling shares a while back.
All the Bigshots are unloading shares now that the market is near the top.
https://www.zerohedge.com/markets/jamie-dimon-sells-822000-shares-jpmorgan-first-time-stock-hits-all-time-high
Yes, I see the same. Keith made mention of it on this last webinar. We going to have to see the stock market come down in a big way with the Banksters reverse course and begin dropping interest rates because of it. That will be the catalyst that takes the wind out of the sails of what I believe is an irrational move higher in AI tech related stocks. The REAL ECONOMY is not doing that well, it's just that AI is in a bubble now and lifting the entire market with it.
When a big market correction comes that will rotate money out of all the very over-leveraged, high beta stocks and into the beaten down commodity related sector. PM's should move higher in that environment and send money into the miners when everyone sees the move higher in gold and silver prices.
Of course, this is all still in front of us. JMO
The stock market is doing things now that IMO are at best IRRATIONAL to use an old Greenspan term. This looks somewhat like a blow-off top to me, not to say it can't continue for some time.
If and when a big drop in the stock market comes, I'm skeptical of that being a good thing for any stock. Everyone will be selling any risk asset and moving either into cash or something perceived as a safe haven asset. How much further the mining sector falls is anyone's guess, but it's so beat up now we know it can't fall as hard as say the tech sector. We just continue the waiting game until that turn comes.
I'm going to put in call for Paul next week and if I can remember to ask him about the insider shares/options thing I'll do so.
If he can give me a good answer, I'll share it with everyone here.
Every and Johnson disagreed with SOME of what Rickards was saying, but on many points they both agreed with Rickards views and told him so.
Much of the debate discussion was centered around the dollar losing its reserve currency status by 2030. IMO no one can predict when the dollar will lose that status. That's like me saying I can predict the weather in a certain area 6 years from now, its impossible to do. There are way too many variables that would delay or accelerate that happening. I think its safe to say the dollar's relevance is falling and will continue to do so. It won't lose the reserve status until something is their to replace it and that was the Every/Johnson argument. What can replace the dollar?
I said that about the dollar and our share price because if the dollar ISN't going away in a shorter time frame that gives those holding dollars more selling power when the time comes to sell. I fully expect the FMG share price to be appreciably higher in the next couple years, maybe the dollar won't be totally worthless before then. I'm less sure on when our shares will be to a price that I want to sell mine at.
I'm not sure what's going on with the options thing and how that might relate to the last offering OR maybe what the Company sees coming with a potential share price move higher in the near term? I would think that the Company Insiders want to be fully loaded with shares and options BEFORE a move higher takes place. They know what's going on behind the scenes and to events we're not privy to.
I don't have a problem with them rewarding themselves, but at some point, the lowly shareholders would like to see a move higher too. JMO
Marco Rubio is painting a dire picture about when China decides to unleash their cyberattack on the U.S.
He's probably right about what could happen and the Idiots in our government aren't really concerned. What's the government here doing to inform the citizens about how to protect themselves? Not a damn thing.
https://www.msn.com/en-us/news/world/rubio-warns-chinese-cyberattack-will-be-100-times-worse-than-at-t-outage-your-power-your-water/ar-BB1iIO20?ocid=msedgntp&pc=U531&cvid=0afe6735ab434034b6a50d6c3424f542&ei=17
I agree 100% with your point about what Johnson said concerning the U.S. and the "war" subjects they discussed. The view Johnson seemed to take was that because U.S. defense contractors did so well the U.S. won the war! What the Hell? That makes no sense whatsoever. Dementia Joe left $68 billion worth of military equipment in Afghanistan for the Taliban, does that mean we won there too? No, absolutely not. We don't even have hypersonic missile technology here yet, it's my understanding that China and Russia already have hypersonic missiles. Are we winning there too? LOL
Rickards and Murphy were in the camp that the dollar is on its way out and the other two, I thought, made valid points that the dollar will be around longer. IMO it's very clear the dollar, along with the U.S., is losing it's influence around the world. The dollar may still be the least dirty shirt in the closet, but the East is making a very big effort to dump it. That's for certain, so that is a slower death for the dollar. We could at some time end up with multiple reserve currencies I suppose.
If we do see the dollar hold on for another 5-10 years that may be in FMG shareholder's best interest. We may not have to fire sale our shares as quickly as possible after we see the share price move higher.
Murphy was just O.K. in the debate. IMO Peter Schiff would have been the other Guy with Rickards that would have made a much better case for the gold side of the discussion.
I'm glad You persevered to watch the entire debate. It was testy at times, but I thought both sides made good points. It's always good to get different perspectives.
PR out on more Duparquet drill numbers and gives totals for drilling done in 2023. Looks to be very promising with potential to find much more gold there in 2024 and beyond. We're getting absolutely NO credit for what's at Duparquet or for that matter even having Duparquet, as an asset.
Hopefully, at some point in time that changes.
https://firstmininggold.com/news/first-mining-announces-final-2023-exploration-drilling-results-and--commencement-of-2024-drill-program-at-the-duparquet-gold-project
A must listen from Martin Armstrong.
https://www.zerohedge.com/political/everything-going-wrong-deep-state-martin-armstrong-warns-thats-what-makes-them-so
Just watched this interview with David Rogers Webb. It doesn't cover the detail of the audiobook I posted, but he gives a nice overview of the book with the fellow doing the interview. Webb talks about most of what we've been talking about here. He's done the research and what he says IMO is true.
The Banksters start wars to get what they want. These People are truly demented.
A must watch.
Has anyone listened to this? I'm posting the audiobook off UTube for THE GREAT TAKING.
The voice reading the book text I suppose is an AI copy of Orson Welles. Much easier to listen to IMO.
I'll comment on the book when I finish it.
Interesting interview George Gammon has with a hedge fund manager about various topics. George is always thought provoking and brings up issues we may not have even considered. A couple of those are in this interview.
Here's Prof. Steve Hanke's latest. One of the few economists that really understand and get what's going on. This Man IMO should be running the Show The issue with that is he may fix the problems and we know that wouldn't go over too big. Hanke's points are spot on.
He sees gold moving much higher too.
Interesting guest with Rob from Gold Silver Pros and I agree with his views. Go to 15:00 into the interview and listen what he says from there.
He talks about a near-term washout coming in PM's and the miners with a strong move higher after that. He speaks to what happened to gold in the 2007-2009 time frame when the market tanked and everyone was seeking safety and liquidity. In other words, they were scared, but after that move down PM's and the miners bottom and turn higher.
Looks like the Whales may be starting to take positions in the miners. Check out this article from ZH speaking to Stan Druckenmiller's hedge fund dumping some tech companies and buying into Barrick and Newmont. I guess he thinks the shares are cheap here.
https://www.zerohedge.com/news/2024-02-15/arizona-joins-brics-and-druckenmiller-buys-barrick
We know NOBODY ever wins in war, especially those that give the ultimate sacrifice in war, but the country/countries that vanquish the opposition get the spoils of war. That's gone on through recorded history. To the Victor go the spoils and special privileges.
The sad fact is I see the U.S.'s main purpose currently as being a global provider of the weapons of war. Mainly to our allies. Think about it, what other area of commerce in this country is more thriving and vibrant now than the companies that make weapons? I certainly can't think of any, but to Jim Rickards
point to Brent Johnson in the debate that doesn't make our military the best in the world.
Recent Peter Schiff interview. It's always good to hear from Peter and get his latest thoughts.
Also, make sure you watch this part with Brent Johnson. It starts at 1:16:30
He talking about the dollar getting stronger as the rest of the world requires more dollars and of course we know they aren't currently making more dollars. So, when the SHTF moment arrives Johnson talks about the big SELL OFF that will ensue and how gold will sell off with the market. What I've been harping about.
When Brent Johnson was talking about the military situation he was bragging about how war is really good for the U.S. military complex. Well, no shit Brent, but how good is it for the U.S. taxpayers?
Rickards was trying to tell him that didn't mean the U.S. military was the best military, but like someone heavily invested in Raytheon or Lockheed Martin, Johnson was more interested in the U.S. selling weapons than us being able to defend ourselves. That's what this has all come down to, people making money in defense stocks. I thought Rickards made him look bad in that argument.
O.K., I watched the whole debate. Let me say that it was long, but worth watching in total because they covered a LOT of ground and interesting topics. Many of which we talk about here. There were a couple of times in the debate where I thought the gloves were going to come off between Rickards and Every, but cooler heads prevailed. Adam Taggert didn't have to play referee in a cage match fight. LOL
The main topics of discussion were dedollarization and if the dollar loses reserve status, BRICS and rest of the world getting out of dollars, military conflicts, CBDC's and of course gold and it's place going forward. If I didn't have time to watch the whole debate I would suggest trying to watch the first hour and a half and the part at the end with the Q&A time. The Q&A begins at 2:17:10 into the video.
The part that I found especially interesting was when they were talking about possible military conflicts happening. I don't know how much real knowledge any of them had in terms of knowing who's got the best military right now, but I tended to agree with what Jim Rickards was saying, instead of Every and Johnson If it comes down to a major war happening IMO that could usher in the next Top Dog. I'm skeptical the U.S. has the best military at this point in time. I think Rickards made the crack our guys would be wearing dresses.
They ALL agreed you need to be holding physical PM's and they all predicted lofty gold prices going forward. Peter Schiff with Rickards would have been MUCH better than the Murphy fellow.
I've only watched the short clips too, but as time permits today, I'll watch the full discussion.
Stay tuned and on a later post I'll note the best segments to watch. I know others here have limited time to watch also.
I thought the exchanges from Every and Rickards got pretty testy. Rickards is normally speaks with a quiet softness, but it appeared he really got his feathers ruffled. by some of Every's comments. Rickards revealed a side I've never seen from him.
They should have invited Peter Schiff to the party too.
If I remember to do so, the next time I speak to Paul, I'll see what he knows about Reinson's departure. I don't know if he was let go or left for greener pastures, but he wasn't there very long. That might indicate he wasn't working out like they had hoped.
I'm all for rewarding and incentivizing the people in the company that can bring results to shareholders. Maxwell and Lines are both squarely in those positions.
Steve Lines was excellent in that webinar you referenced. I've already told Paul to get Steve back on a webinar AFTER the EA is submitted this Summer. That would be a perfect time for him to update shareholders on where we are with the Springpole permitting AND what's going on at Duparquet.
There should be volumes of information he could shed light on in that webinar.
That article explains a lot. Jerome Powell said in his recent 60 Minutes interview that the Fed can't tell Congress how to spend or appropriate money. No shit, Jerome that's because You and the Idiots at the Fed can't manage your money either.
Their solution is always the same....print more fiat and cause more inflation for the huddling Masses. The Global Elites don't carry they have all the fiat they'll ever spend.
Was just now snooping around on the Insider's share website and we know that attached to the bottom (sort of hidden IMO) the PR the Company informs us that the former COO, Jeff Reinson was leaving the company.
https://firstmininggold.com/news/first-mining-confirms-new-area-of-mineralization-at-central-duparquet-and-announces-management-changes
James Maxwell and Steve Lines were promoted and given a nice package of stock and options, as we can see in the Insider's report. They got a bunch more today. I don't know what was going on with Reinson while he was with the Company, but it may be a better thing for shareholders in the longer haul that Maxwell and Lines are being rewarded and INCENTIVIZED by the company now. Both Maxwell and Lines are playing big roles with the company's future and are heavily invested now to do a good job going forward, because it improves their bank accounts when they do.
https://www.insidertracking.com/node/7?menu_tickersearch=FF*CA+%7C%7C+First+Mining+Gold
Anyone else see this on ZH today? Some very interesting discussion from a panel of so-called experts talking about the dollar, BRICS, CBDC, etc.
There are clips of the discussion in the ZH article and at the very bottom of the page I believe is the link for the entire thing. I thought Jim Rickards and the Every fellow were going to start throwing punches after talking about each other's Daddy. Rickards had to quick add his father was highly decoreated by FDR back in the day. LOL I think Jim got his feelings hurt.
Anyway, worth watching, I think.
https://www.zerohedge.com/economics/zerohedge-debate-recap-global-reserve-brics-cbdcs-and-more
Yes, they'll do their best to keep the appearance of a strong economy up until the election, IF THEY CAN.
All of the M2 being drained out of the System now is going to hit eventually, when that happens is anyone's guess.
We could have a Black Swan or two flying before the election, which wouldn't be good for the diaper-wearing Incumbent, that's only IF he's the nominee by then. I'm expecting him to bow out before the election. They're getting tired of having to change his diapers at the WH.
LOL
Well, that's the whole background of a history of the world hierarchy, isn't it?
First there was the chief of the tribe or clan, then there were Kings, then came Presidents, Prime Ministers, Politicians, and BANKERS. These were the people at the top of the food chain and the rest of us don't really have a say in the matter. That's not going to change in my lifetime unfortunately.
I believe at some point there will be a mass awakening among the People that fiat money is not worth working for because they won't be able to live off what they earn in fiat. That means inflation will be higher than what most people can live comfortably on. People won't be able to save any money.
because the cost of living will be TOO high. We're seeing that happening right now, but the Masses haven't figured it out yet and most importantly the crooked government is giving away money to those who can't earn enough.
IMO the SHTF moment comes when the government can't keep the house of cards propped up by paying everyone to be happy. In other words, the welfare state will collapse, the military complex collapses, the dollar hyperinflates, etc., so what happens then is anyone's guess. What will they do then? Who gets blamed for the huge cluster-fuck that's been going on for years and years?
That might be the moment we see them roll out the CBDC and claim to save everyone. Are people going to trust the CBDC? I doubt it, but those that want to continue feeding their face will have to succumb to it to SURVIVE. This is just a theory that I see as plausible.
If these Assholes had stayed on a gold standard IMO this would have never happened, but that means they also would have had to control spending and we know that's impossible for them to do, UNLESS forced to do so. That's exactly why we see this impending train-wreck coming.
I guarantee You the next CPI number next month will be below the projected number. We're in the time line now where the Banksters know they're going to HAVE TO begin dropping interest rates. If the economic numbers don't follow their narrative, they'll just start cooking the numbers to make it work for them.
I firmly believe that.
Well, the Senate thinks it's a great idea to just send another $96 billion over to Ukraine and Israel with no strings attached. No problem we'll make a few digit changes on the computer and presto, we'll make the money up. This is insanity, but no different than what we've been seeing.
https://mishtalk.com/economics/senate-votes-to-send-ukraine-and-israel-95-3-billion-in-free-money/
The CPI numbers came in hotter than expected today and that means that expectations of interest rates staying higher for longer may be in the cards.
The stock market along with PM's are taking a hit on the news. The Talking Heads on the biz news are becoming more concerned about the high rates staying high for too long. Maybe something is going to break?
I think today's market action is a precursor to what will happen in a down stock market. PM's will fall with the market. Until they don't anymore.
https://www.zerohedge.com/markets/cpi-prints-hotter-expected-january-food-utilities-jumped
IMO, not only is Peter Schiff a sound Austrian economist, the man's a Visionary. Schiff is wise enough to connect the dots and see where they're leading to. Peter's also, since I've been reading him, been a proponent of sound money. Fiat's not sound money and we know since the world got off the gold standard it's been downhill from there. Schiff has always liked PM's and the stability they bring to a monetary system, as do all Austrian economists.
Of course, what Schiff preaches is NOT what people want to hear. His message is one of austerity, control, and self-reliance. The total opposite of what's gone on since we got off the gold standard, that's out-of-control spending and massive debt. Now as we seem to be approaching a "light at the end of the tunnel" moment the Jamie Dimon's and Jerome Powell's are speaking up about the debt wall coming. They're talking about the problem, but how's it going to get fixed? I'm not hearing many solutions from them on that. Why? Because the solutions aren't politically correct. People are going to suffer and get less, not more. They want to blame the other Guy for the problems they made. What else is new.
Schiff has been the One that said this is what he sees coming. Pretty much a reset, reckoning, come to Jesus Moment. are just a few words that come to mind. He also sees massive inflation coming most likely BEFORE the SHTF moment arrives because the fiat money will continue on steroids.
As far as what happens to SS and Medicare, I HOPE they can be salvaged to some defree, but if they can keep them going, IMO it will be in a diminished capacity. People will have to learn to live with LESS of both.
Bezos had a no brainer with his move to Florida, my question is what took him so long? We're in the beginning currently to see the collapse of the economies of these overtaxed BLUE states and cities in those states. This migrant invasion has seen to that in a big way. The Feds can't continue to support them either, so we'll see the rampant crime and poverty in those places worsen. They made their bed, so they can lay in it.
Money always goes where it's treated the best.
Wow, your post was very eloquently delivered and covered a lot of ground. I won't touch on every subject you did, but will comment on the biggest problem and that's the out-of-control government.
The U.S. government is SO bloated it's about to explode IMO. If our founding Fathers could see how over-blown and dysfunctional this government has become they would croak again. My guesstimation for agency cuts across the board would be to start at 25% and go up from there. There's some of the agencies that just need to be done away with altogether.
We're in the shape we're in now because of WAY TOO MUCH GOVERNMENT. On top of the obvious corruption, we see now, we've also evolved into a welfare state. People have no savings because they depend on the government to support them. At home we have give-away programs out the wazoo and abroad we try to be the world's cop. That's not sustainable and the chickens are coming home to roost. This movie is not going to end nicely.
I agree with the other points you made, because not only is there a government problem, but there's a moral and ethical problem too. This country has gotten away from those big issues too. We need to go back to what made us great from the beginning. Sadly, we seem to be moving farther away.
Sound money is part of what helped us become great, we need to remember that also. Buy PM's for the impending shit storm that's coming.
Yet another Jamie Dimon dire warning. Is that all he does now?
Some of the people in the article blow off what's coming. What else is new, but just like what we hear now about no recession coming, they can't see the forest for the trees. No one knows what Black Swans will be flying soon or how much money they'll have to spend to keep the House of Cards from falling.
The very last part of the article really says it all. When other countries quit buying up our bad debt, what happens then? The party's over and you better have an alternative to worthless U.S. dollars.
https://finance.yahoo.com/news/jamie-dimon-believes-u-debt-093000484.html
Beautiful summation, Seablue! What I find so interesting is how currently so many other Pundits are saying what Peter S. has been saying for years now.
People like Jamie Dimon, Jeff Gundlach, and even JEROME POWELL are squawking now about the unsustainable debt and insolvency of the U.S. if they continue down this path. Gundlach said in an interview I posted here a couple weeks ago that Social Security could run into problems in the next 4-5 years, NOT in the 10 years everyone had been calling for. There's no way the spending can stop and most likely the inflation we've seen to date is just the beginning of what's coming.
The bigger question is WHAT are they going to do to keep it solvent? Somebody better come up with something because IMO SS going under isn't an option. If SS and Medicare went down the old people would be in D.C. with their pitchforks out, ready to stick it to the politicians. Literally.
Peter Schiff has always been branded as a whacko, crazy man with outlandish predictions, funny that now the mainstream Idiots are sounding a lot like him. LOL
Peter Schiff is 100% correct about this situation.
https://www.zerohedge.com/personal-finance/peter-schiff-we-are-brink-catastrophe
There's no doubt in my mind that silver will break those old $50/oz. highs in time. The bigger question will be how high into the triple digits will it move? That should depend in large part on how high the gold price moves. Silver will follow gold's move up.
I firmly believe Keith wants to diversify more into gold mining properties going forward. Gold maintains a much steadier price and gives a mining company a more consistent revenue stream. I believe that's why FM acquired Jerritt Canyon. The gold price doesn't fluctuate as much as the silver price does.
Of course with silver above $30 FM will make a killing and their margins would be fantastic. Imagine $50, $75, $100 silver, their profits go through the roof.
I too, find myself torn between how I want to continue to unload my dollars. Whether it be in riskier stocks or a surer thing with physical metals I'll most likely continue to add some of both. Treasury is at nice entry point now, but it could get cheaper along with the whole mining sector if we see a big market crash/correction.
I'll just stay patient and see how this plays out, I still believe some break in the status quo will come this year.
The latest Keith interview from the Vancouver conference. He talks mostly about FM and the silver market, but does speak about possible M&A opportunities.
Says he likes gold and it's important to have gold in the mix as far as bringing price stability to the company's bottom-line. I was surprised to hear him say 50% of their revenue comes from GOLD. A silver miner that depends a lot on digging for gold too.
https://www.kitco.com/news/video/2024-02-05/silver-will-move-higher-on-rate-cut-then-blast-past-gold-first-majestic-silver-ceo-keith-neumeyer
This is old news now, but I had to post it for the great points being made in the article. Is there any wonder the rest of the world is wondering what's going on in this totally dysfunctional country and why faith has been lost in it's leadership and governance. IMO it's easy to see. A very sad state of affairs.
https://mishtalk.com/politics/special-council-concludes-president-biden-is-too-senile-to-stand-trial/
The first part of this interview is Charles Payne speaking to the Fed. IMO he makes some good observations about them.