Sunday, October 30, 2016

Gold World News Flash

Gold World News Flash


Full Speech: Donald Trump Huge Rally in Golden, CO 10/29/16

Posted: 29 Oct 2016 05:00 PM PDT

 Saturday, October 29, 2016: Full replay of the Donald Trump rally in Golden, CO at the Jefferson County Events Center. Live coverage begins at 12:00 PM MT. LIVE Stream: Donald Trump Rally in Golden, CO 10/29/16 The Financial Armageddon Economic Collapse Blog tracks trends and forecasts ,...

[[ This is a content summary only. Visit http://www.newsbooze.com or http://www.figanews.com for full links, other content, and more! ]]

China's Blowing Out TED-Spread Has Traders Bracing For A Cash Shortage

Posted: 29 Oct 2016 04:58 PM PDT

This past July, we lamented that as a result of the now implemented money market reform which sent Libor soaring, Wall Street had lost one of its most dependable, forward-looking crisis indicators: the TED-Spread (the difference between LIBOR and 3 month TSYs), something which Bloomberg also figured out last week.

Specifically, we said that "now the regulatory intervention is set to pressure what have traditionally been reliable metrics indicative of funding stress and systemic risk, among them swap spreads, the TED-Spread and the FRA-OIS spread, the market is about to lose the last metric indicative of underlying tensions. After all, with central bank intervention having broken all conventional signalling pathways, including equities, corporate bonds, Treasuries, and VIX, there will no longer be any reliable sources hinting at fundamental risk in the market, certainly for the short-term and perhaps over an indefinite amount of time."

However, one place where the TED spread - ironically - is still a valid indicator of liquidity concerns, is oddly enough China. And it is in China where traders in the local interest-rate swap market are bracing for a cash shortage as a result of the blowout in the premium for the 1-year swap rate over the 1-year sovereign bond yield to 52 basis points, the widest since July 2015.

As Bloomberg reminds us, this is China's version of the familiar TED spread, which in the US is (or rather was) a gauge of stress that compares funding costs for banks and the government.

"This is a signal in the market that swap traders are readying for tighter liquidity as the government tries to prevent a property bubble," said Iris Pang, senior economist for Greater China at Natixis Asia Ltd. in Hong Kong. "Further tightness may be very limited because the PBOC doesn't want to put financial stress on the market.

The good news: it is still well below the 140 basis points reached during the trust finance crackdown of early 2014. The bad news is that as reported last week, China has just launched a new crackdown, this time on on the infamous Wealth-Managemnt Products, shadow banking conduits which amount to just under $1.9 trillion in products, the immediate result of which has been the recent 10% surge in bitcoin. Which means that should absent another liquidity injections elsewhere, the drought is set to get far worse.

The recent, sharp move in the swap spread is the result of market concerns that the government is seeking to crackdown on the local housing bubble:

The fixed cost to receive the seven-day repurchase rate for a year climbed to an 18-month high on concern the People's Bank of China will tighten its purse strings after property prices surged 40 percent in Shanghai last month from a year earlier.  The one-year swap rate reached 2.73 percent on Friday in Shanghai, matching the highest level since April 2015, while the seven-day repo rate reached a one-month high on Thursday. The one-year sovereign yield was at 2.19 percent, heading for a third annual decline. 

Making matters worse, China Securities Journal reported on its front page that finance companies need to prepare for "tight days" as monetary policy shifts to focus on deleveraging.

The "good" news from this upcoming liquidity shortage, is that China's government bond yields, already near all time lows, are set to drop even further, as bond investors - who assume the market's reaction to a Chinese growth slowdown is similar to that in the US - are preparing to benefit from the slower economic growth that may result. "Any decline in real estate activity is likely to dent growth in the world's second-largest economy, providing a tailwind for government bonds", according to ING and DBS.

And while it is all connected, the liquidity shortage, the drop in yields, and the rising swap spreads, the cash squeeze also reflects the flight from a weakening yuan. While China's SAFE reported that 44.7 billion in yuan payments left the nation last month, up from August's outflow of $27.7 billion, Goldman's calculation was nearly double that, or some $78 billion in September outflows. As a result of the return of China's banking sector bogeyman, which as we reported last week just hit a staggering 200 trillion yuan...

... the Chinese currency continued to slide this past week, bringing its drop against the dollar to 4.2% YTD, the most among 11 Asian currencies tracked by Bloomberg.

How should one trade this reacceleration in Chinese capital outflows, Yuan devaluation and overall economic deterioration? One way, as Kyle Bass has done, is to short the Yuan outright, and in size. Another, as we did last September, and as Corriente's MarK Hart discussed in February, is simply to go long bitcoin - a trade that has returned over 200% in just over a year.

Of course, one doesn't have to trade it at all: sitting back and watching events unfold may be just as satisfactory.

EXCLUSIVE: FBI Mutiny Reopened Clinton Investigation

Posted: 29 Oct 2016 04:30 PM PDT

 Upcoming leaks pertaining to Hillary Clinton have forced the hand of the FBI into re-opening their investigation into the crooked candidate. The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free investigative journalists ,...

[[ This is a content summary only. Visit http://www.newsbooze.com or http://www.figanews.com for full links, other content, and more! ]]

The US Navy - Screwing The Taxpayers, And Defense Innovators

Posted: 29 Oct 2016 04:30 PM PDT

Submitted by Duane via Free Market Shooter blog,

ghost-boat

Self-made millionaire Gregory Sancoff has spent a decade and $19 million building a highly unusual stealth boat. Called Ghost, it’s designed to be faster, more stable, and more fuel-efficient than anything currently in the U.S. Navy’s fleet, he says. “It’s such a smooth ride, you can sit there and drink your coffee going through six-foot swells,” he proudly told Bloomberg Businessweek in 2014.

 

But there’s a problem: The Pentagon doesn’t want Sancoff’s boat—and also won’t let him sell it abroad.

Source:  The Feds Won’t Buy this $19 Million Stealth Boat – Or Let It Be Sold Abroad  |  Bloomberg

A little background is necessary here – Gregory Sancoff is a self-made millionaire who spent some of his own fortune building a stealth boat for the U.S. Navy.  The Navy has chosen not to purchase Sancoff’s “Ghost” boat.  That is fine… except, the Navy has deemed the technology too classified to allow him to sell it anywhere else.  How does this make any sense, if he developed the boat all on his own, without any government funding or assistance?

Apparently, this all happened because he patented his invention, and tried to sell it to the Navy.  The Navy was initially interested, but also served him with secrecy orders, and later placed his firm under watch of International Traffic in Arms Regulations (ITAR).  Though you would think he would have some legal recourse here, such action is made extremely difficult, as he is not a large-scale defense firm such as Lockheed, and does not have the same legal resources at his disposal.

The outlook for Juliet isn’t great. Last year, the U.S. patent office issued 95 secrecy orders—one for every 6,628 applications, as Joshua Brustein wrote in June. Most of those inventions were developed by large companies, specifically for the military or other government agencies. But as Brustein points out, the orders “are a different sort of ordeal for private inventors, about a dozen of whom file patent applications that are made secret by government mandate each year.” Inventors who break gag orders can lose their patent rights, or face fines or incarceration. And while some secrecy orders are reversed each year, others date back as far as the 1940s.

If Sancoff’s boat contains such sensitive technology that it cannot be sold abroad, why doesn’t the US Navy just buy his prototype from him?  They won’t need to contract his firm to build a fleet, but they can purchase the technology for use in other DARPA projects. $19 million is but a drop in the bucket of the Navy’s ~$380 billion dollar budget, after all.

Apparently, $19 million is too much to spare for a stealth boat, when you’ve already wasted $23 billion building three stealth destroyers, that have been watered down from their own original plans, and don’t even have close-in air defenses.

160421-N-YE579-005 ATLANTIC OCEAN (April 21, 2016) The future guided-missile destroyer USS Zumwalt (DDG 1000) transits the Atlantic Ocean during acceptance trials April 21, 2016 with the Navy's Board of Inspection and Survey (INSURV). The U.S. Navy accepted delivery of DDG 1000, the future guided-missile destroyer USS Zumwalt (DDG 1000) May 20, 2016. Following a crew certification period and October commissioning ceremony in Baltimore, Zumwalt will transit to its homeport in San Diego for a Post Delivery Availability and Mission Systems Activation. DDG 1000 is the lead ship of the Zumwalt-class destroyers, next-generation, multi-mission surface combatants, tailored for land attack and littoral dominance. (U.S. Navy/Released)

The Zumwalt class stealth destroyer was originally contracted in the 1990’s to eventually replace the Navy’s aging Arleigh Burke class destroyers.  Similar to so many monstrous defense projects, the Zumwalt was plagued with delays, cost overruns, and subsequent cost cutting measures that led to a far less capable destroyer than was originally planned, and the buy was correspondingly cut from 32 copies to just three.  With questionable self-defense capabilities, this destroyer cannot be deployed to any hotspot without external support, as a ship with similar defenses was recently destroyed by very unsophisticated weapons.  Originally expect to run at ~$300 million a copy, the smaller buy and higher costs pushed the cost of the remaining three to about $8 billion apiece.

So, just to clarify – the US Navy can afford to waste $23 billion on a stealth destroyer of questionable efficacy, but can’t afford to spend less than 0.001% of that cost on a stealth boat prototype, even if solely for the sake of using the technology in future designs.  Is it any wonder why even our unpopular Congressional leaders are telling the military to stop buying equipment it doesn’t need?  Perhaps the DoD should be more supportive of innovators who spend their own dime to develop new technologies, instead of screwing them over every step of the way, and instead choosing to continue wasting taxpayer dollars on flawed designs?

The defense procurement process is beyond flawed; it is in need of a complete overhaul.  The Pentagon needs to focus on building out more prototypes, and testing them in the field before committing to buying large numbers of untested designs.  Smaller defense projects with room for expansion will leave the DoD more nimble, and more able to quickly adapt to new challenges posed by differing adversaries with increasingly differing tactics.  And, one of the best ways to do that is to encourage innovators like Sancoff, who are willing to invest their own resources to build prototypes, not discourage them. 

But look on the bright side – the DoD won’t spend $19 million on a stealth boat prototype, instead choosing to waste $23 billion on three neutered stealth destroyers… but at least its not a $1.5 TRILLION dollar project that is “too big to fail”, so it must proceed in its screwing of the taxpayer.

F35-problems

WikiLeaks Julian ASSANGE The TIME Has COME !

Posted: 29 Oct 2016 04:00 PM PDT

WikiLeaks Julian ASSANGE The TIME Has COME ! The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free investigative journalists , researchers , Whistelblowers , truthers and many more

[[ This is a content summary only. Visit http://www.newsbooze.com or http://www.figanews.com for full links, other content, and more! ]]

The Vexed Question Of The Dollar

Posted: 29 Oct 2016 03:30 PM PDT

Submitted by Alasdair Macleod via GoldMoney.com,

There is little doubt that the rapid expansion of both dollar-denominated debt and monetary quantities since the financial crisis will lead us into a currency crisis.

We just don’t know when, and the dollar is not alone. All the major paper currencies have been massively inflated in recent years. With the dollar acting as the world’s reserve currency, where the dollar goes, so do all the other fiat monies. Until that cataclysmic event, we watch currencies behave in increasingly unexpected, seemingly irrational ways. The fundamentals for Japan are not good, yet the yen remains the strongest currency of the big four. The Eurozone risks a systemic collapse, overwhelmed by political and financial headwinds, yet the euro’s exchange rate has proved relatively impervious to this deep uncertainty. The British economy is strongest, yet sterling is the weakest of the four majors.

If nothing else, today’s foreign exchanges are evidence that subjectivity triumphs over macroeconomic thinking. Mackay’s Extraordinary Popular Delusions and the Madness of Crowds beats computer modelling every time. Furthermore, any official attempt to establish a rate for the dollar has to address two separate questions: the value of the dollar relative to other currencies, and its purchasing power for goods and services.

The chart below indicates how the dollar has behaved against other currencies over the last five years, both on a trade weighted and on a predefined currency basis (DXY).

It should be noted that the dollar has risen on both these measures by roughly 18% since early 2014. At the same time, the Chinese yuan has fallen against the dollar by about 12%, so it has actually risen slightly against the DXY basket as a whole, particularly against the euro component, where it has gained 12% since early 2014. This matters, because far from devaluing, which is what we are routinely told by dollar-centric analysts, the yuan has been relatively stable over time against a basket of currencies. It has been weak against the dollar and yen, but strong against both the euro and sterling.

We should look at this from the Fed’s Federal Open Market Committee’s point of view. America runs a record trade deficit with China, and the only major economies where China’s terms of trade have improved are with the US, excepting Japan. Therefore, the Fed is bound to be very sensitive to the dollar’s exchange rate with China’s yuan. Furthermore, on two occasions when the Fed had signalled it was going to raise the Fed Funds Rate, it backed off when the Chinese lowered the rate at which it had pegged the yuan to the dollar. Chinese devaluation against the dollar is obviously a prime concern for the Fed.

The situation becomes better understood when the Peoples Bank’s position is taken into account. The bank has been selling US Treasury stock in large quantities, stockpiling commodities and oil with the proceeds, though it has been diversifying into Japanese Government bonds as well. China’s dollars have been welcomed by markets, which are short of both quality collateral and raw currency. However, China’s supply of both has failed to stop the dollar rising against the yuan. Furthermore, China isn’t the only Asian and Middle Eastern state selling American paper, so the demand from other international players on the buy side has been immense, enough to determine the underlying direction of the dollar’s exchange rate.

The situation is being exploited by the Peoples Bank. In effect, the Peoples Bank is in a position to dictate Fed policy by adjusting the rate at which it is prepared to supply dollars into the market. So long as the dollar remains fundamentally strong, it only has to slow the pace of Treasury and dollar sales for the dollar to rise, and therefore the Fed’s planned interest rate rises to be deferred. This is not understood properly by western commentators, who erroneously think China is being forced to defend a declining yuan. Nothing could be further from the truth. It will be interesting to see whether this happens again ahead of the December FOMC meeting, when for the umpteenth time we have been promised a rise in the Fed Funds Rate.

A major consideration behind China’s foreign exchange policy is the outlook for the euro. The Eurozone represents a market as large as the US, with the added importance of being tagged onto the Asian continent. There can be little doubt that China sees her own long-term future being aligned more with Europe than America, despite Europe’s current troubles. It is, if you like, a situation that is primarily of strategic importance. Europe’s economy will need rescuing at some stage, and is therefore a future opportunity for China’s intervention.

That plan is for the long term, and becomes increasingly valid the deeper the hole the Eurozone digs for itself. A disintegration of the EU would also be beneficial for Chinese ambitions. Meanwhile, in the short-term the euro has broken a crucial trend-line against the dollar, having completed a continuation head-and-shoulders pattern, targeting the 1.0600 area, which is the previous low seen in March and November 2015. This is our second chart. 

Neither the Peoples Bank nor the Fed need to be chart experts to see what’s happening. Brexit was very bad news for the euro, because it is a racing certainty that the event will turn out to be just the start of a new round of political and economic trouble for the Eurozone. The Italian economy in particular is imploding, with a non-performing loan problem that is roughly 40% of private sector GDP.

So China can for the moment steer a course for the yuan between the euro’s devaluation and the dollar’s rise. The Fed sees in euro weakness an increase of currency-induced deflation for the US economy, and a loss of competitiveness for US exports. Chinese exporters are obvious beneficiaries as well, so the blame for deflation will be on China’s foreign exchange machinations.

Anyway, China probably cares less than she ever did about the long-term consequences of her actions on the US economy. China has been selling her US Treasuries and reducing her dollar exposure to add to her stockpiles of raw materials and oil. She wants to keep her over-indebted businesses trading by maintaining a favourable exchange rate with the dollar, particularly given the developing train wreck that’s the Eurozone. And there’s not a lot the Fed can do about it.

Gold and commodities

The principal driver for the gold price is the prospect of monetary inflation transmuting into price inflation, and the inability of central banks to respond to this threat by raising interest rates sufficiently to control the balance of consumer preferences between goods and holding money.

We are, of course, measuring gold in dollars, because the latter is the reserve currency for all the others. But, as stated above, there are two exchange considerations, the first being the dollar against other currencies, and the second the dollar against a basket of commodities. And here, we should note that over the long-term, the prices of commodities measured in gold are considerably more stable than the prices of commodities measured in fiat currencies.

China has behaved as if she is thoroughly aware of gold’s pricing attributes, and has a deliberate policy of dominating the market for bullion. This is very different from the US’s domination of gold paper markets. Not only has China invested in unprofitable gold mines to become the largest producer at about 450 tonnes annually, but the state monopolises China’s refining capacity. She also imports dorĂ© for refining from other countries, and without doubt since 1983 has accumulated substantial quantities of bullion not included in monetary reserves. Furthermore, it is the only country that has encouraged its population, through television and other media, to accumulate physical gold. Make no mistake, for the last thirty-three years, the Chinese government has made a credible attempt to gain ultimate control over the physical gold market, and to extend gold’s protection to her own citizens.

China does not manipulate the gold price. Instead, as described earlier, she is manipulating the dollar by regulating the exchange rate and by discouraging the Fed from raising interest rates. It is a temporary balancing act that only continues so long as desperate banks and their indebted borrowers continue to scramble for dollars, and China knows it. The Fed, for the moment, appears to be powerless to manage economic outcomes and is firmly trapped by China’s currency management, with interest rates stuck at the lower bound. And to make it worse, the weak euro, against which the dollar index (DXY) is very heavily weighted (57%!), threatens to force the DXY index even higher. The result, inevitably, is that monetary policy cannot be used to address future price inflation, which virtually guarantees there will be a higher gold price in 2017 and beyond.

This is why, despite American wishful thinking, gold remains at the centre of the financial system. It is central partly because China’s ensures it is, and it is also China’s ultimate money for commodity and trade purposes.

China most likely has enough gold to fully compensate for her reserve losses from the destruction of the dollar and the other fiat currencies on her reserve book. She is deliberately selling down her dollar exposure anyway, while she can. Lest we forget, communist economists in China were taught that capitalism destroys itself. For them, there is no clearer proof than the performance of the US economy and the dollar, and they do not intend to get caught up in its demise. Understand this, and you understand all.

While the monetary role of gold in the future has yet to be determined by China, and it will be China or the markets that make the decision, for the moment it can be regarded as the ultimate insurance against global currency failure.

Nigel Farage getting in trouble at the EU Parliament again

Posted: 29 Oct 2016 02:30 PM PDT

Nigel Farage is a living legend Nigel exposes the rottenness of the EU every time he speaks. They hate him, we love him ! The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free investigative journalists , researchers ,...

[[ This is a content summary only. Visit http://www.newsbooze.com or http://www.figanews.com for full links, other content, and more! ]]

Anonymous - IMPORTANT Message to the Citizens of the World 2016

Posted: 29 Oct 2016 02:00 PM PDT

 Anonymous - IMPORTANT Message to the Citizens of the World 2016 The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free investigative journalists , researchers , Whistelblowers , truthers and many more

[[ This is a content summary only. Visit http://www.newsbooze.com or http://www.figanews.com for full links, other content, and more! ]]

ANONYMOUS - Strange movement at US International Airports - Martial LAW operation has begun! 2016

Posted: 29 Oct 2016 12:00 PM PDT

 ANONYMOUS - Strange movement at US International Airports - Martial LAW operation has begun! 2016We Are Anonymous.We Are Legion.We Do Not Forgive.We Do Not Forget.Expect Us. The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free...

[[ This is a content summary only. Visit http://www.newsbooze.com or http://www.figanews.com for full links, other content, and more! ]]

TEXE MARRS - America Babylon—The Perverse Goblin of Homosexual Deviltry - OCTOBER 29, 2016

Posted: 29 Oct 2016 10:47 AM PDT

TEXE MARRS - America Babylon—The Perverse Goblin of Homosexual Deviltry - OCTOBER 29, 2016 The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free investigative journalists , researchers , Whistelblowers , truthers and many more

[[ This is a content summary only. Visit http://www.newsbooze.com or http://www.figanews.com for full links, other content, and more! ]]

NEW WIKILEAKS Julian ASSANGE s full interview !

Posted: 29 Oct 2016 09:53 AM PDT

NEW WIKILEAKS Julian ASSANGE s full interview ! The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free investigative journalists , researchers , Whistelblowers , truthers and many more

[[ This is a content summary only. Visit http://www.newsbooze.com or http://www.figanews.com for full links, other content, and more! ]]

WW3 Red Alert : Germany Sends Tanks To Russian Border

Posted: 29 Oct 2016 09:12 AM PDT

Germany sends tanks to Lithuania and US send troops to Lithuania along Russian border The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free investigative journalists , researchers , Whistelblowers , truthers and many more

[[ This is a content summary only. Visit http://www.newsbooze.com or http://www.figanews.com for full links, other content, and more! ]]

China links gold market with Dubai

Posted: 29 Oct 2016 08:10 AM PDT

By Wu Yiyao
China Daily, Beijing
Saturday, October 29, 2016

SHANGHAI -- Shanghai Gold Exchange and Dubai Gold and Commodities Exchange signed an agreement on Friday in Shanghai that makes the Dubai exchange the first foreign exchange to use the SGE's renminbi-denominated gold benchmark.

The SGE is in talks with other exchanges about similar cooperation, according to an SGE circular.

SGE is the world's largest physical bullion exchange. The renminbi-denominated gold benchmark, also known as Shanghai Gold, was launched in April this year. It is one of China's efforts to earn more say over pricing of the precious metal and increase its influence in the global gold market. ...

... For the remainder of the report:

http://www.chinadaily.com.cn/business/2016-10/29/content_27212093.htm



ADVERTISEMENT

We Are Amid the Biggest Financial Bubble in History;
When It Bursts, Bullion Owned in the Safest Way Will Protect Wealth

With GoldCore you can own allocated -- and most importantly -- segregated coins and bars in Switzerland, Singapore, and Hong Kong.

Switzerland, Singapore, and Hong Kong remain extremely safe jurisdictions for storing bullion. Avoid exchange-traded funds and digital gold providers where you are a price taker. Ensure that you are outright legal owner of your bullion. If you do not own segregated bullion that you can visit, inspect, and take delivery of, you are exposed.

Crucial guides to storage in Singapore and Switzerland can be read here:

http://info.goldcore.com/essential-guide-to-storing-gold-in-singapore

http://info.goldcore.com/essential-guide-to-storing-gold-in-switzerland

GoldCore does not report transactions to any authority. Safety, privacy, and confidentiality are paramount when we are entrusted with storage of our clients' precious metals.

Email the GoldCore team at info@goldcore.com or call our trading desk:

UK: +44(0)203-086-9200. U.S.: +1-302-635-1160. International: +353(0)1-632-5010.

Visit us at: http://www.goldcore.com



Help GATA by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://tinyurl.com/zr4tjuc

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

Dutch financial newspaper interviews gold researcher Koos Jansen

Posted: 29 Oct 2016 07:56 AM PDT

9:57a CT Saturday, October 29, 2016

Dear Friend of GATA and Gold:

The Netherlands financial newspaper Het Financieel Dagblad, which translates to "The Financial Times" but isn't the London-based paper that spews so much disinformation about gold, has interviewed gold researcher Koos Jansen. He predicts that gold will be a part of a new world financial system and notes that he is pressing the Netherlands central bank to be transparent about its gold reserves. The interview can be read in English at Bullion Star here:

https://www.bullionstar.com/blogs/koos-jansen/gold-is-going-to-play-a-ro...

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org



ADVERTISEMENT

K92 Mining Begins Gold Production at Kainantu Mine

Company Announcement
Wednesday, October 5, 2016

K92 Mining Inc. is pleased to announce that gold production has commenced from the Irumafimpa gold deposit.

Ian Stalker, K92 Chief Executive Officer, says: "This milestone is highly significant for our company, and for this region of Papua New Guinea. A great deal of thanks goes to the entire team on site in PNG in achieving production ahead of schedule and on budget. The rehabilitation of the Irumafimpa gold mine, process plant, and associated infrastructure commenced in late March and is now complete. As an enhancement of the processing facility, we are also pleased to note that the installation of a new drum scrubber is also nearing completion and commissioning of this will be completed by the end of the month. ..."

...For the remainder of the announcement:

http://www.k92mining.com/2016/10/6077/



Help GATA by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://tinyurl.com/zr4tjuc

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

A Loaf of Bread, A Gallon of Gas, An Ounce of Gold

Posted: 29 Oct 2016 06:47 AM PDT

Kelsey Williams writes: The average cost for a loaf of bread in 1930 was ten cents ($.10). The average cost for a gallon of gasoline was also ten cents. With gold priced in U.S. dollars at $20.00 to the ounce, you could at that time purchase two hundred loaves of bread or two hundred gallons of gasoline (or some combination thereof). Twenty dollars of paper currency OR one ounce of gold valued at $20.00, usually in the form of a U.S. Double Eagle ($20.00 gold coin, legal tender), were equal in “purchasing power”.

Breaking News And Best Of The Web

Posted: 29 Oct 2016 02:37 AM PDT

US GDP up strongly. Deluge of earnings this week, with Apple and Amazon disappointing while Google and the big banks do better than expected. The dollar is rising and so is inflation. Major cyber attack hits US east coast. FBI probing new Clinton emails.   Best Of The Web Hoisington Management quarterly review and outlook, […]

The post Breaking News And Best Of The Web appeared first on DollarCollapse.com.

No comments:

Post a Comment