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Thursday, February 4, 2016

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World’s Largest Silver Producer Calls On The LBMA To Explain Last Week’s Fraudulent Silver Fix

Posted: 04 Feb 2016 01:00 PM PST

Not only does the LBMA price set the price for clearing physical gold and silver trades twice a day, it also is used to benchmark OTC derivatives. My best educated guess is that a couple of the most influential bullion banks involved in the fix – JP Morgan and HSBC, each of whom respectively operates […]

The post World's Largest Silver Producer Calls On The LBMA To Explain Last Week's Fraudulent Silver Fix appeared first on Silver Doctors.

Gold Breaks Important 1130 Level; Barriers Remain

Posted: 04 Feb 2016 12:30 PM PST

Mass Layoffs To Return With A Vengeance

Posted: 04 Feb 2016 12:00 PM PST

The worm has turned! How safe is your job?   Submitted by Adam Taggart, Peak Prosperity:  Remember the mass layoffs of 2008-2009?  The US economy shed millions of jobs quickly and relentlessly, as companies died and the rest fought for survival. Then the Fed and the US government flooded the banks and the corporate sector […]

The post Mass Layoffs To Return With A Vengeance appeared first on Silver Doctors.

Are Gold and Silver Miners in a Hole?

Posted: 04 Feb 2016 11:00 AM PST

Has a brutal 5 year decline in gold and silver left the precious metals mining industry in shambles??   Today Rory Hall of the Daily Coin and I had a chat about the state of the gold and silver markets. We discussed China's potential role in setting the price of gold, gold and silver sales […]

The post Are Gold and Silver Miners in a Hole? appeared first on Silver Doctors.

Bad Numbers And Dark Prophecies: Almost Everybody’s Cutting Something

Posted: 04 Feb 2016 10:21 AM PST

The drumbeat of bad (and sometimes just plain weird) news has risen lately — but today’s batch stands out. Here’s a small sampling:

US jobless claims were higher than expected, and continue the rising trend of the past few weeks.

US layoffs surged to a six month high, while asset write-downs are up worldwide. Among today’s related announcements: 6,000 layoffs from ConocoPhillips and 10,000 from Shell Oil, and a $5.75 billion write-down from Credit Suisse.

These aren’t surprising given the bloodbath in oil and banks’ exposure to that industry. Many, many more shocks from these two sectors are coming.

Q4 US worker productivity fell at a 3% annual rate. According to the linked article: “Economists blame softer productivity on a lack of investment, which they say has led to an unprecedented decline in capital intensity.” In other words, while corporations were borrowing trillions to buy back their shares they weren’t bothering to build new factories or upgrade old ones.

US December factory orders posted their biggest drop in a year. Fewer people are working and those who are are either underpaid or insecure, so they’re apparently buying less stuff. And, again, companies are using all their free cash to buy back shares rather than build capacity.

Truck orders in the US fell by 48%.This also fits the commodities bust/low capital spending theme. If we’re not moving as much stuff around, we don’t need so many trucks.

Department store chain Kohl’s reported lower-than-expected same-store sales and its stock plunged. Combine anemic consumer spending with the ascendance of e-commerce, and bricks-and-mortar department stores are TOAST. Kohl’s, Macy’s, JC Penney, even Wal-Mart are on the wrong side of history and will soon go the way of newspapers and bookstores. Are the mall REITs the next Big Short?

This being earnings season, the list of ominous numbers and downbeat forecasts should be longer by end of day and much longer by the end of the week.

On a brighter note, the gold miners, after a brutal few years, are starting to generate stories that are the mirror image of the above. Here’s one from this morning to brighten an otherwise depressing day:

Royal Gold, Inc. (NASDAQ: RGLD; TSX: RGL) reports results for its second quarter of fiscal 2016 ("second quarter"), including record revenue of $98.1 million, up 60% from $61.3 million in the prior year quarter. Net income attributable to Royal Gold stockholders was $15.1 million, or $0.23 per share, as compared to a net loss attributable to Royal Gold stockholders of $6.5 million, or ($0.10) per share, for the prior year quarter.

Second Quarter Highlights Compared with the Year-ago Quarter:

• Record revenue of $98.1 million, an increase of 60%
• Record volume of 88,700 Gold Equivalent Ounces, an increase of 74%
• Operating cash flow of $52.1 million, an increase of 75%
• Record dividends paid of $14.4 million, yielding 3.0% at the current share price
• Adjusted EBITDA of $70.0 million, an increase of 46%

"Increased production from Mount Milligan and contributions from our recently acquired streams at Pueblo Viejo, Andacollo, Wassa and Prestea drove our record performance in the second quarter as expected," commented Tony Jensen, President and CEO. "Impressive volume growth at these properties and stability within the rest of the portfolio are yielding solid financial results and generating strong free cash flow."

Net income attributable to Royal Gold stockholders was $15.1 million, or $0.23 per share, compared to a net loss attributable to Royal Gold stockholders of $6.5 million, or ($0.10) per share for the prior year quarter.

Royal Gold’s share price is up 14% on the day. (Full disclosure: DollarCollapse staffers are long this stock and are relieved to see it behaving better.)

Global Financial System Will Completely Seize Up Within 48 Hours of COMEX Gold Delivery Failure

Posted: 04 Feb 2016 10:01 AM PST

A situation where more gold standing for delivery than is claimed to exist is NOT a "good" thing.  This is a VERY dangerous situation of potential default and one where by hook or by crook has been avoided to this point. Is it this delivery month where delivery fails?  I do not know. I do know […]

The post Global Financial System Will Completely Seize Up Within 48 Hours of COMEX Gold Delivery Failure appeared first on Silver Doctors.

IT BEGINS… Primary Silver Mining Company To Cut Production 25% In 2016

Posted: 04 Feb 2016 10:00 AM PST

The low price of silver has finally claimed is first victim.    From the SRSRocco Report:  Endeavour Silver announced that it will cut silver production by 25% in 2016.  The company has three mines working in Mexico and will produce 7.2 million oz (Moz) of silver in 2015.  However, Endeavour plans to shut down production […]

The post IT BEGINS… Primary Silver Mining Company To Cut Production 25% In 2016 appeared first on Silver Doctors.

When The Economy Collapses The Government Will Implode : “The Support Mechanisms On Which We Depend Will Break Down”

Posted: 04 Feb 2016 09:00 AM PST

The entire web of deceptions going back the last century is going to unravel completely and the government will fall.   Submitted by Mac Slavo, SHTFPlan: For twenty years Micheal Rivero of What Really Happened has been exposing the lies and corruption emanating from the Federal government, Wall street bankers, and big business. In his latest […]

The post When The Economy Collapses The Government Will Implode : "The Support Mechanisms On Which We Depend Will Break Down" appeared first on Silver Doctors.

The END GAME in Silver Was Always Going to Be Messy

Posted: 04 Feb 2016 08:10 AM PST

Two things are very clear in the latest rig job in silver: 1) Somebody had a very large silver derivative position that was supposed to be settled upon the LBMA Silver Price (the Fix) last Thursday. 2) The loser of that position most likely had a catastrophic loss that will emerge over the next few […]

The post The END GAME in Silver Was Always Going to Be Messy appeared first on Silver Doctors.

Guest Post: "Gold -- It's Time To Pay Attention", by Mike Krieger of LibertyBlitzkrieg

Posted: 04 Feb 2016 08:08 AM PST

I've gotten to know Mike over the years so I consider him a friend. Though his primary focus now is documenting the loss of civil liberties and the advancing tyranny of government and central planners, he's still an excellent financial analyst. Therefore, this piece he published yesterday regarding gold should definitely merit your attention.

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GOLD – It’s Time to Pay Attention

Posted: 04 Feb 2016 08:05 AM PST

The psychology dominating the minds of most institutional investors over the past few years has been that things were slowly getting back to normal. This has weighed on institutional demand for gold in a big way, and been a meaningful factor in the bear market (manipulation aside). If this psychology shifts, the shift back into gold could be very meaningful. While that […]

The post GOLD – It's Time to Pay Attention appeared first on Silver Doctors.

Rick Rule: $2-$3B Gold Deposits That Can Be Bought Now For $15M – Will Command A $2-$3B Price Tag Again

Posted: 04 Feb 2016 08:00 AM PST

Sprott’s Rick Rule believes MASSIVE moves are coming in the gold and silver mining sector… Submitted by Tekoa Da Silva, Sprott’s Thoughts:  >>Interview With Rick Rule (MP3) I had the chance to sit down once again with Rick Rule, Chairman of Sprott US Holdings. It was an interesting conversation, as Rick noted natural resource markets […]

The post Rick Rule: $2-$3B Gold Deposits That Can Be Bought Now For $15M – Will Command A $2-$3B Price Tag Again appeared first on Silver Doctors.

A Warning Signal For The Housing Market

Posted: 04 Feb 2016 07:00 AM PST

It’s no secret that Fund Manager Dave Kranzler is a big housing market bear – this stock is telling us that he may have been early in his housing call, but that he will likely be right:   Submitted by PM Fund Manager Dave Kranzler, IRD:  PennyMac (PFSI) is a mortgage finance company that describes itself as  a specialty financial […]

The post A Warning Signal For The Housing Market appeared first on Silver Doctors.

Gold Price Jumps with Real Money ETF Investing, Miners Hedge at 3-Month US Dollar Highs

Posted: 04 Feb 2016 06:21 AM PST

Bullion Vault

Gold Prices To 3 Month High As Investors Sell Risky Assets

Posted: 04 Feb 2016 04:01 AM PST

gold.ie

Ethics and the inner ring

Posted: 03 Feb 2016 08:40 PM PST

C. S. Lewis is one of my favourite writers so it was good to be reminded of his work by blogger mickeyman in a post I strongly recommend http://worldcomplex.blogspot.com.au/2016/02/ethics-and-inner-ring.html


Highly relevant to our times and also relevant to the gold blogosphere. "Lewis tells us that there are many inner rings in society--and rather than entering the inner ring of financial chicanery, there is the possibility of entering a ring composed of those of good will--the sound craftsmen."

Protected: Is the Bottom in for Gold & Gold Stocks?

Posted: 03 Feb 2016 05:21 PM PST

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Gold market and prices 1800-2008

Posted: 03 Feb 2016 04:00 PM PST

Finfacts

Gold Daily and Silver Weekly Charts - Non-Farm Payrolls on Friday

Posted: 03 Feb 2016 03:02 PM PST

Le Cafe Américain

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