Matthew Yglesiaswrites for Vox. Argentina is famous for its defaults on sovereign debt, so the news that it defaulted on bond payments again this week is likely to be greeted by most people with a shrug and an Evita reference. But this time around the default was different, prompted much less by irresponsible economic policy in Buenos Aires than by irresponsible legal policy in Manhattan. An American hedge fund got greedy, advanced a legal theory that was
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Latest HRA Editorial: Disappointing Politicians From the July 21st, 2014 HRA Journal: Issue 217 We’re half way through the dog days of summer and metals and juniors haven’t collapsed yet. So far so good. I don’t expect them to but this time of year the markets can generate big swings on even fairly minor news. Metals in general continue to perform well and gold is fighting its way back from a $60 smack down. As you know,
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A man walks by a sign that reads Yesterday Braden or Peron, today Griesa or Cristina, in reference to an unresolved debt dispute between the Argentine administration of President Cristina Fernandez and the NML Capital hedge fund, ordered to round-the-clock negotiations by a U.S. District Court presided by Judge Thomas Griesa, in Buenos Aires on July 29, 2014.
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Ambrose Evans-Pritchard writes: Chinas central bank, and others, have become major players on world equity markets, effectively fuelling stock bubbles in much the same way they previously fuelled credit bubbles
Continue reading "Global QE ends as China opens second front in bond tapering" »
VANCOUVER, BC--(Marketwired - July 31, 2014) - GoldQuest Mining Corp. (TSX VENTURE: GQC)(M1W.F)(M1W.BE) (GoldQuest or the Company) is pleased to announce an exploration update including assay results from four holes from its ongoing drill program which commenced May 2014 on its 100% owned San Juan concession group in the Dominican Republic, which includes the Romero gold/copper deposit (see press release dated October 29, 2013). Drilling is underway at a porphyry target at La Guama North, and the
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* Manufacturers expect output to rise in July, Aug * Govt cuts view on output, says it has weakened * Decline in shipments similar to last recession * Analysts say weak exports may weigh on output ahead (Adds details on shipments, inventories, recession risk) *June output falls 3.3 pct vs fcast -1.2
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GE Christenson, aka the Diviant Investor, looks at longer term megaphone technical patterns for silver and concludes that one of them could result in three-digit silver in the not-too-distant-future. Followthe hyperlinks below for the full story.
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The Cambridge House set up for the brief video below reads: Frank Holmes, CEO Chief Investment Officer of US Global Investors, chats with Cambridge House Live anchor Vanessa Collette at the Sprott Natural Resources Symposium 2014 in Vancouver. They discuss a myriad of pertinent market events, including the remarkable value of junior miners oil stocks. Video below, about 9 minutes.
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President Cristina Fernandez de Kirchner’s government says it needs to delay the ruling until January, after the expiration of a Rights Upon Future Offers clause that’s supposed to keep it from voluntarily giving better terms to the holdout creditors. By defaulting tomorrow,Argentinamay trigger bondholder claims of as much as $29 billion -- equal to all its foreign-currency reserves.
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Don’t fight the People’s Bank of China. That’s the advice to investors fromAdrian Mowat, the Hong Kong-based chief Asia and emerging-market strategist atJPMorgan Chase Co. (JPM)who raised his rating on Chinese stocks to neutral from underweight in a report dated yesterday. He said shares will rally through October after theHang Seng China Enterprises Index (HSCEI)entered abull marketon July 28.
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Small resource companies we have accumulated orare accumulating, as the case may be. Those who have beenfollowing Constantine will know they are in the middle of an important drill campaign at Palmer in Alaska. We understand that the company will host a site tour for a number of analysts and newsletter writers in about two weeks. There has been steady accumulation in anticipation of the high grade drill results, the first two holes of which were reported
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The Bloomberg set up for the brief video interview below reads: July 30 (Bloomberg) –- Bianco Research President and Founder Jim Bianco discusses U.S. markets, how the Russia sanctions will impact the market and what he’s watching this week with Angie Lau on Bloomberg Television’s “First Up.” Video below, about 5 minutes. (Source: Bloomberg)
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Montreal, Quebec, July 29, 2014, 08:30 EDT – SEMAFO (TSX, OMX: SMF) today announced results from an initial Siou infill core drilling program between 180 and 225 meters vertical depth, which has the objective of replacing and increasing the reserves base at Siou by year-end. Initial results to date have yielded very strong results that confirm the continuity of the zone widths and grades. Some drill results exceeded our expectations such as hole WDC787 (8.38 g/t Au
Continue reading "SEMAFO: Initial Siou Infill Drilling Results In Line with Expectations Zone 9 Returns Values Up to 8.38 (10.49 uncut) g/t Au over 17.5 meters" »
VANCOUVER, BRITISH COLUMBIA--(Marketwired - July 29, 2014) - Pretium Resources Inc. (TSX:PVG)(NYSE:PVG) (Pretivm or the Company) is pleased to announce the closing of its previously announced marketed offering (the Offering) of 8,280,000 common shares at a price of US$7.25 per share (the Offering Price). Pursuant to the terms of the Offering, Pretivm received gross proceeds of US$49,524,750 for the sale of 6,831,000 common shares. The remaining 1,449,000 common shares were sold by Silver Standard Resources Inc. (Silver
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The CNBC set up for the brief video below reads: Ron Paul, the former U.S. representative from Texas and perhaps Americas most popular libertarian voice, has long said that the nations monetary and fiscal policies would result in massive inflation. According to the common measures of inflation, this has not yet occurred. But Paul maintains that the inflation he has warned of has indeed come to fruition in asset prices, and that once it unravels, a market
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Mark OByrne of GoldCore writes: Today’s AM fix was USD 1,307.50, EUR 972.84 and GBP 770.39 per ounce. Yesterday’s AM fix was USD 1,305.00, EUR 971.20 and GBP 768.55 per ounce. Gold climbed $2.30 or 0.18% yesterday to $1,305.10/oz and silver rose $0.12 or 0.58% to $20.62/oz.
Continue reading "GoldCore - Russia Buys 18.6 Tonnes Of Gold In June - Currency Wars Intensify" »
Japan’s retail sales fell more than forecast in June, capping a weak quarter that challenges Prime Minister Shinzo Abe’s bid to reflate the economy while heaping a heavier tax burden on consumers.
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Vancouver, B.C. - July 28, 2014 - Precipitate Gold Corp. (the Company or Precipitate) (TSXV: PRG) is pleased to announce the commencement of a first-phase drill program at the Ginger Ridge gold zone within the Companys 100% owned Juan de Herrera project in the Tireo Gold Camp in the Dominican Republic. The drill and crews have been mobilized to site and the Companys maiden drill program at Ginger Ridge is now underway. The program will total approximately
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HOUSTON – We have just two stops to make on today’s rabbit trail, but both of them “count” and both are pretty dang important. Today we will be looking at what some are calling a “too-high, too fast” net long position in silver by Managed Money traders and then we will cover an aspect of the huge, record high short position in silver futures held by the mercenary Swap Dealers, and it’s a “keeper.” So, with no
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David Stockman brings us Pat Buchanan with timely commentary on the Ukraine, Russia and the U.S. Pat asks brilliantly, who is the real problem here? David begins: In just 800 words Pat Buchanan exposesthe sheerjuvenile delinquency embodied in Washington’s currentUkrainian fiasco. He accomplishes this byreminding us of the sober restraint that governed the actions of American Presidents from FDRtoEisenhower, Reagan andBush I with respect to Eastern Europe duringfar more perilous times. In a word, as much as
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Matthew Lee reports for the AP. WASHINGTON (AP) — The United States shut down its embassy in Libya on Saturday and evacuated its diplomats to neighboring Tunisia under U.S. military escort amid a significant deterioration in security in Tripoli as fighting intensified between rival militias, the State Department said.
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David Stockman writes: Alan Greenspan just cannot give up the ghost. During his baleful 18-year reign, the Fed was turned into a serial bubble machine—and therebybecame aclear and present danger to honest free market capitalism and anenemy of the 99% who do not benefit from the Wall Street casino and thevast inflation of financial assets which it has enabled. His legacy is a toxically financialized economy that hasextracted huge windfallrents from main street, and left it burdened
Continue reading "C’mon Alan! Bubbles Are Caused By Central Bankers, Not “Human Nature”" »
WASHINGTON (MarketWatch) — Former Federal Reserve Chairman Alan Greenspan has always been a student of the economy. Since the financial crisis, he’s become a student of human nature. Sitting in his office with a view of the Washington Monument in the distance, Greenspan is eager to share the insight distilled in his recent book, “The Map and the Territory,” due out in paperback this fall. ‘There is definite evidence the economy is picking up. The financial system
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Russia has issued a threat to seize the assets of British companies including BP and Shell as a retaliation against David Cameron’s demand for tough sanctions. In a mounting war of words, a senior diplomatic source claimed Moscow would “fight back” against any industry-wide EU sanctions by putting British companies working in Russian oil on the frontline. “We want friendly relations. We will go along as far as we can. Then we will retaliate,” the figure said.
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Mark OByrne, GoldCore.com writes: Today’s AM fix was USD 1,292.50, EUR 961.18 and GBP 761.64 per ounce. Yesterday’s AM fix was USD 1,300.00, EUR 964.68 and GBP 763.76 per ounce.
Continue reading "Gold Lockdown Until GoldCore - Options Expiry Monday - New Singapore Gold Contract Threatens Manipulation" »
DONETSK, Ukraine (CNN) -The United States said Thursday it has proof that Russia is firing into Ukraine. ... Also Thursday, Ukrainian Prime Minister Arseniy Yatsenyuk and his Cabinet announced their resignation in what Ukrainian political experts said was an expected development. Yatsenyuk and his Cabinet will remain in place as an acting government until elections in October.
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Ukraine’s prime minister resigns as coalition falls apart... (Reuters and AP Confirm). Ukrainian Prime Minister Arseniy Yatsenyuk said Thursday that in light of recent turmoil in parliament, he is resigning his post. He scolded politicians for failing to increase army financing. (Reuters) More...
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(Reuters) - An Air Algerie flight crashed on Thursday en route from Ouagadougou in Burkina Faso to Algiers with 110 passengers on board, an Algerian aviation official said. There were few clear indications of what might of happened to the aircraft, or whether there were casualties, but Burkino Faso Transport Minister Jean Bertin Ouedrago said it asked to change route at 0138 GMT (9.38 p.m. EDT) because of a storm in the area. I can confirm that
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Air Algerie has lost contact with an aircraft travelling from Burkina Faso in west Africa with a total of 116 people on board. Aviation authorities said flight AH5017 vanished from radar about 50 minutes after take-off from Ouagadougou. Two French fighter jets based in Africa have now been deployed in an attempt to locate the missing plane, the French army spokesperson Gilles Jaron has confirmed. The last contact Algerian authorities had with the aircraft was at 01.55am
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Air Algérie flight AH5017, thought to be carrying 110 passengers and six crew, disappears in early hours of Thursday morning
Continue reading "Flight from Burkina Faso to Algeria disappears from radar" »