Flash News: Junior Miners Are Not Going To Implode

On Monday IRD published a reply to an article that was posted on Goldseek.com which theorized that capital was going to stop flowing to the junior mining stock sector because of the changes occurring at the GDXJ and JNUG ETF: No, The Junior Mining Stocks Are Not Going To Implode.
In that reply I stated that, in the course of doing research for the Mining Stock Journal, that several junior mining stock CEO’s had recently told me that there was an enormous amount of capital coming into the sector from sophisticate pools of institutional investors and strategic players (other mining companies, private equity etc).
This morning the ‘proof of concept’ in my commentary was offered when Sandstorm Gold and Mariana Resources announced a merger deal – this update was sent out to Mining Stock Journal subscribers:
Mariana Resource / Sandstorm Merger Proposal
In the December 22, 2016 issue, I presented Mariana Resources. At the time of publication the stock was at $0.82.

This post was published at Investment Research Dynamics on April 26, 2017.

S&P: These Ten Retailers Will File For Bankruptcy Next

Three weeks ago, we reported that Fitch had put together a list of 8 retailers who were likely next in line to file for bankruptcy. The rating agency speculated that distressed legacy “bricks and mortar” outlets such as 99 Cents Only, rue 21, Gymboree and True Religion would follow what has already been a historic surge in retailers filing for Chapter 11 protection and/or shuttering stores. The Fitch list is below:
Sears Holdings Corp (roughly $2.5 billion); 99 Cents Only Stores LLC; Charming Charlie LLC; Gymboree Corp.; Nine West Holdings Inc.; NYDJ Apparel LLC; rue21, Inc.; and True Religion Apparel Inc. Putting this list in context, over the weekend we presented a chart from Credit Suisse showing that on an annualized basis, some 8,640 – or more – stores would be closed in 2017, the highest number on record.

This post was published at Zero Hedge on Apr 26, 2017.

This bubble finally burst. Which one’s next?

Like so many other high-flying Silicon Valley startups, Clinkle was supposed to ‘make the world a better place’.
Founded in 2011 by a guy barely out of his teens, the company picked up early buzz after proclaiming they would disrupt mobile payments. Or something.
Silicon Valley venture capital firms were apparently so impressed with the idea that they showered the company with an unprecedented level of cash.
(Given that investing in an early stage company is high-risk, investors might provide a few hundred thousand dollars in funding, at most. Clinkle raised $25 million.)
The company went on to burn through just about every penny of its investors’ capital.
There were even photos that surfaced of the 21-year old CEO literally setting bricks of cash on fire.
At the end of the farce, Clinkle never actually managed to build its supposedly ‘world-changing’ product, and the website is now all but defunct.
This is rapidly becoming a familiar story in Silicon Valley.

This post was published at Sovereign Man on April 26, 2017.

The Stock Market Has Gotten So Big It Has Now Passed 2007 Market Bubble – Episode 1264a

The following video was published by X22Report on Apr 26, 2017
Canada housing regulators are now warning of a housing bubble. The US is seeing the echo housing bubble of 2008. The central bankers need more debt pushed out, so those student’s with student loans will now be able to purchase homes by changing the rules. Trump is getting ready to sign an EO to cancel NAFTA. Bubble Alert, we have now passed the bubble of 2007 and are now headed to the 1999 bubble. Congress will pass a week extension to discuss the budget. Rand Paul says to drain the swamp the money must be taken away. The only way to do this is to crash the system and to remove the central bank.

Stocks and Precious Metals Charts – Sell the News – Qu’est-ce Que C’est

“Psychopaths [and sociopaths] have a grandiose self-structure which demands a scornful and detached devaluation of others, in order to ward off their envy toward the good perceived in other people.”
Robert D. Hare, Without Conscience
‘The sense of responsibility in the financial community for the community as a whole is not small. It is nearly nil.’
John Kenneth Galbraith, The Great Crash of 1929
‘In a nation run by swine, all the pigs are upwardly mobile, and the rest of us are fucked until we can put our acts together: not necessarily to win, but mainly to keep from losing completely.’
Hunter S. Thompson
“And where they make a desert, they call it peace.”
Tacitus, Agricola
Donald and His Merry Pranksters were rolling out the greatest tax cut in history today.
It was interesting to watch the stock and precious metals futures fluctuate, as Messrs Cohn and Mnuchin were speaking. I did have a chance to do that today, since the daily hospital visits are in the morning, and I seem to be getting caught up with the household chores as the queen finds herself increasingly fatigued. Alas, the mispricing in these markets was so apparent that I could not resist making a few trades during the ebb and flow of expectations and short term trends that reversed somewhat sharply into the close. Even an old dog can hear the call to the chase now and again.

This post was published at Jesses Crossroads Cafe on 26 APRIL 2017.

Fannie Introduces “Innovative Solutions” Allowing Student-Debt-Laden Millennials To Buy A Home

So what do you do when a massive student loan bubble results in crippling leverage for an entire generation of your population rendering them financially unqualified to obtain mortgage financing and their ‘God-given right’ to a slice of the ‘American Dream’? Well, you simply change the rules to allow mortgage lenders to ignore all that pesky student debt…anything less would simply be evil and potentially racist, sexist and all sorts of other -ist words.
Luckily, Fannie Mae is right on top of the issue and has just released new rules allowing millennial borrowers to, among other things, simply exclude student loans, credit cards and auto loans that are “paid by someone else”…wink wink…when applying for a new mortgage. As an added benefit, taxpayer subsidized mortgage loans can also now be used to repay student debt…Hooray for taxpayers!

This post was published at Zero Hedge on Apr 26, 2017.

Trump Unveils Major Tax Overhaul

Saturday is the president’s 100th day on the throne.
And Trump strikes us as a fellow sweating to get something done, against some sort of odds.
His own party reformed health care reform into the wastebasket…
Judges banned his travel ban…
The big, beautiful wall remains a big, beautiful fantasy.
But this afternoon the president’s released his latest tax reform proposal…
A critical plank drops the U. S. corporate tax rate from a punishing 35% to a relaxed 15%.
Trump says a 15% rate would take American business off its tether… lift its spirits… give it a leg up in global markets.
But if he stumbles this time, it could be a hard road back for the great deal-maker.
And he’ll need to herd lots of willful cats to ram it through…
Critics argue a 15% corporate rate would balloon the national debt – which already exceeds $20 trillion.
The Tax Policy Center, for example, says cutting the corporate rate to 15% would cost Uncle Samuel $215 billion in 2018 alone.
And gut federal revenue by $2.4 trillion over the next decade.

This post was published at Wall Street Examiner on April 26, 2017.


Gold: $1262.10 DOWN 3.50
Silver: $17.35 DOWN 23 cents
Closing access prices:
Gold $1269.50
silver: $17.50!!!
Premium of Shanghai 2nd fix/NY:$15.20
LONDON FIRST GOLD FIX: 5:30 am est $1264.95
For comex gold:
Total number of notices filed so far this month: 906 for 4,530,000 oz

This post was published at Harvey Organ Blog on April 26, 2017.

Peso Plunges As White House Plans NAFTA Withdrawal Executive Order

The Mexican Peso is tumbling (and Loonie extending yesterday’s timber-tariff-driven losses), as Politico reports, the Trump administration is considering an executive order on withdrawing the U. S. from NAFTA, according to two White House officials.
Politico reports that a draft order has been submitted for the final stages of review and could be unveiled late this week or early next week, the officials said. The effort, which still could change in the coming days as more officials weigh in, would indicate the administration’s intent to withdraw from the sweeping pact by triggering the timeline set forth in the deal.
The approach appears designed to extract better terms with Canada and Mexico, and judging bvy the FX market’s reaction, they agree…

This post was published at Zero Hedge on Apr 26, 2017.

Trump Individual Tax Plan To Have 3 Brackets: 35%, 25%, & 10%

As the minutes tick by ahead of the announcement of “the greatest tax cut in human history,” we are getting more information on the personal tax rates (something Treasury Secretary Mnuchin failed to mention earlier). As Fox News reports, in addition to raising deductions, the Trump administration will collapse the current seven-tier bracket system into just three tax brackets under the new plan, taxed at rates of 35 percent, 25 percent and 10 percent.
As Fox News reports, President Donald Trump’s tax plan, which will be unveiled Wednesday, calls for a sizable increase to the standard deduction Americans can take when filing taxes, potentially allowing taxpayers to keep more of their income – to the tune of a couple thousand dollars, White House sources told Fox News.

This post was published at Zero Hedge on Apr 26, 2017.

The Healing Power of Gold and Silver

There is healing power in gold and silver. Both precious metals serve as an investment as well as money. Gold and silver also have technological applications. We recently reported that gold is the new green with a growing number of environmental applications. Today, we focus on some of the amazing developments using gold and silver in healthcare applications.
For centuries, silver has been used as an antibacterial agent and to fight infections. Today, scientists are using cutting-edge research techniques to study how exactly silver poisons pathogenic microbes.
The work of scientists like Joe Lemiresuch from Calgary University is yielding new insights on how to create effective antimicrobials and avoid the pitfalls of antimicrobial resistance.
‘With our enhanced mechanistic understanding of silver toxicity, we also aim to develop novel silver-based antimicrobial therapies, and potentially rejuvenate other antibiotic therapies that bacteria have come to resist, via silver-based co-treatment strategies.’

This post was published at Schiffgold on APRIL 26, 2017.

Watch Live: Paul Ryan And House GOP Address Spending Bill, Obamacare, Trump Tax Reform

With Steven Mnuchin earlier presenting President Trump’s forthcoming tax plan as the “biggest” tax cut in history, many – especially JPMorgan – doubt it will be able to pass Congress. So, to get the Congressional opinion on the matter, here is House Speaker Paul Ryan and House Republicans addressing not only today’s main event: Trump’s tax plan, but also the proposed spending bill which, should it not pass, will lead to a closing of Congress.

This post was published at Zero Hedge on Apr 26, 2017.

Snakes In Suits – Predators Among Us

‘They often make use of the fact that for many people the content of the message is less important than the way it is delivered.
A confident, aggressive delivery style – often larded with jargon, clichs, and flowery phrases – makes up for the lack of substance and sincerity in their interactions with others … they are masters of impression management; their insight into the psyche of others combined with a superficial – but convincing – verbal fluency allows them to change their personas skillfully as it suits the situation and their game plan.
They are known for their ability to don many masks, change ‘who they are’ depending upon the person with whom they are interacting, and make themselves appear likable to their intended victim.
Psychopathic workers very often were identified as the source of departmental conflicts, in many cases, purposely setting people up in conflict with each other. The most debilitating characteristic of even the most well-behaved psychopath is the inability to form a workable team.
Paul Babiak and Robert Hare, Snakes in Suits
“I may have made an error in judgement – but one thing is beyond dispute: the man was able to work his way up to leader of a people of almost 80 million. His success alone proved that I should subordinate myself to him.”
Adolf Eichmann
A psychopath according to the latest research is both genetically and physically predisposed, through a cluster of characteristics, to being unable to form bonds with other people, even on the most basic level. In addition, certain aspects of their upbringing and environment seem to contribute to their deficiency or predisposition, to turn it towards what would be considered as malignant ends.
Most simply, a full blown psychopath is someone who is ‘born without a conscience.’

This post was published at Jesses Crossroads Cafe on 26 APRIL 2017.

Ignoring Glass-Steagall, A Policy for Disaster

Rewriting history, ignoring the risks and denying what actually caused the global financial crisis will only hurt policy discussions aimed at stabilizing the financial system.
The proposal for breaking up the big banks and revamping the Glass-Steagall Act has been back in the news lately and continues to be widely debated on Wall Street and the media. These discussions, when based on facts, are what the financial media must continue to push.
Glass-Steagall was a depression era safeguard that ensured a policy of stability. When it was formed, the White House worked cooperatively with the biggest bankers on Wall Street. In short, it ensured that banks would separate everyday people’s bank deposits from speculative transactions.
William Cohan recently pinned as part of the Street Scene column in the New York Times DealBook titled Bring Back Glass-Steagall? Goldman Sachs Would Love That.
First, let’s give Cohan his credit. Gary Cohn has stepped down as COO at the vampire squid, Goldman Sachs, to bless the White House with his Wall Street expertise.

This post was published at Wall Street Examiner on April 26, 2017.

Gold and Silver Market Morning: April 26 2017 – Gold is slpping through support!

Gold Today – New York closed at $1,263.80 yesterday after closing at$1,276.10 Monday. London opened at $1,263.00 today.
Overall the dollar was stronger against global currencies early today. Before London’s opening:
– The $: was stronger at $1.0877 after yesterday’s $1.0895: 1.
– The Dollar index was stronger at 99.19 after yesterday’s 98.98.
– The Yen was weaker at 111.47 after yesterday’s 110.48:$1.
– The Yuan was weaker at 6.8907 after yesterday’s 6.8862: $1.
– The Pound Sterling was barely changed at $1.2815 after Friday’s $1.2814: 1.
Yuan Gold Fix
The Shanghai Gold Exchange was trading at 283.00 towards the close today. This translates into $1,272.42. New York closed at a $8.62 discount to Shanghai’s close yesterday. London opened at a discount of $9.42 to Shanghai.
While Shanghai’s gold prices are sipping slowly, New York and London have pulled prices back further.
LBMA price setting: The LBMA gold price was set today at$1,264.95 from yesterday’s $1,270.50.

This post was published at GoldSeek on 26 April 2017.

Mnuchin: “Trump To Propose Biggest Tax Cut In History”, But It May Be DOA In Congress

Speaking at at an event hosted by The Hill this morning, Treasury Secretary Steven Mnuchin made a grand introduction for today’s main event: he said President Trump’s forthcoming tax plan will be the “biggest” tax cut in history, even if he provided few clues as to what will actually be contained in the package, set to be unveiled at 1:30pm today.
As previewed last night, Mnuchin confirmed that the proposal would cut tax rates for businesses to 15%, with the rate applying to both corporations and owner-operated businesses known as “pass-throughs.” The 15% rate was also part of Trump’s campaign plan. Mnuchin said that Trump thinks that’s “absolutely critical” for driving economic growth. As the Hill adds, Mnuchin also said that the administration wants to simplify the personal tax system and that most Americans should be able to file their taxes on a large postcard, although so far there has been virtually no discussion, or leaks, on whether personal income taxes would be affected
‘The average American should have simple taxes,’ Mnuchin said, adding that many people won’t end up paying any taxes under the administration’s plan.
Mnuchin also said that Trump’s proposal won’t include infrastructure spending. ‘This plan is just tax reform,’ he said.

This post was published at Zero Hedge on Apr 26, 2017.