Former U.S. Senator joins Caterpillar Board of Directors

By analyst

By Editor

Caterpillar (NYSE: CAT) announced Thursday that Kelly Ayotte has been selected to join its board of directors and, within the board, the Public Policy & Governance Committee.

Ayotte is a former U.S. senator representing New Hampshire from 2011 to 2017. She also served as New Hampshire’s first female attorney general from 2004 to 2009 and, prior to that, she was deputy attorney general and chief of the Homicide Prosecution Unit in the same state.

According to CAT’s press release, as a member of the Senate’s Commerce Committee, Ayotte played a key role advocating for policies and laws to support skills training for high-tech manufacturing jobs and private-sector job creation.

The 49-year-old Republican was also actively engaged in efforts to extend the Export-Import Bank, with the idea of supporting U.S. companies as they compete and export products around the world.

“Kelly brings significant government experience to our board, which will be helpful for Caterpillar as we address a wide range of public policy issues,” CEO Jim Umpleby wrote in the company’s statement.

The former public servant’s appointment comes into effect immediately.

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Source:: Infomine

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Indian centenary iron ore mine goes solar

By analyst

By Valentina Ruiz Leotaud

Tata Steel has just inaugurated India’s first solar power project located at an iron ore mine. The 3-megawatt solar photovoltaic power plant is situated at the company’s centenary Noamundi mine, in the state of Jharkhand.

According to a press release, the solar plant will help the country’s second largest steel maker replace a part of the electricity it consumes from both the grid and from diesel-based generators. It is also expected to help reduce CO2 emissions by about 3,000 tonnes per annum.

All aspects of the project, from commissioning to building it, took place within the Tata industrial conglomerate.Tata Steel came up with the idea and will purchase the power at a fixed tariff, while Tata Power Solar and Tata Power Trading Company executed it.

The plant uses modules that convert solar radiation into electricity. This energy is then transformed through inverters to AC power at a suitable voltage and then fed to the utility grid. According to the company, if a complete outage takes place, the solar plant has the ability to synchronize with an existing DG bus at a processing plant in Noamundi and continue operation.

The solar installation covers 19 acres of land at an elevated reclaimed mining hill. Tata says there is enough room to expand the project and increase generation to 4.5 megawatts.

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Source:: Infomine

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Iron ore price makes fresh high above $70

By analyst

Iron ore price makes fresh high above $70

By Frik Els

The Northern China import price of 62% Fe content ore jumped 1.6% on Thursday to exchange hands for $76.10 per dry metric tonne according to data supplied by The Steel Index. It’s the highest price since early April and the steelmaking raw material is now trading 43.6% up from its 2017 lows struck in June.

Iron ore’s latest rally comes after Shanghai rebar futures – the world’s most traded steel contract – jumped to the highest level since March 2013 on Thursday reaching 4,016 yuan ($601) a tonne on Thursday.

There isn’t a lot of high-grade around and Chinese mills are preferring high-grade because they want to produce more with steel prices rising

Chinese traders are worried about a steel supply crunch as Beijing steps ups efforts to crack down on polluting plants. The country wants to cut output by as much as 50% during winter months.

In Hebei province, China’s key producing region, steelmakers have until September 1 to comply with stringent new emissions regulations or would be shut down. Some 120 million tonnes of low-quality steel capacity were shuttered during the first six month of the year.

Beijing’s policies to clean up and consolidate the domestic steel industry is playing into the hands of iron ore exporting countries with low grade furnaces – particularly those that use scrap – being forced out of business. Authorities are also clamping down on pollution from sintering plants, a necessary extra step when using low grade ore (domestic Chinese iron content averages only about 20%) to make steel.

A worry for the industry has been high stockpiles in China and inventories at the country’s ports remain near all-time highs dipping to 139.2 million tonnes last week compared to the record set June 23 at 141.5 million tonnes according to Steelhome data. However, traders tell Reuters “steel producers are increasingly opting for higher grade iron ore to boost efficiency”:

“There isn’t a lot of high-grade around and Chinese mills are preferring high-grade because they want to produce more with steel prices rising,” said a trader in Jinan in China’s eastern Shandong province.

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Source:: Infomine

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For Cryptocurrencies, the Future is Now

By Louis Basenese

This post For Cryptocurrencies, the Future is Now appeared first on Daily Reckoning.

Yesterday, I presented the case that you can make a fortune in cryptocurrencies. I don’t think I’ve ever seen anything quite like it in my career.

And the good news is that you don’t need to know anything about Bitcoin or any other cryptocurrencies to take part in the bonanza.

In fact, what I call “penny” cryptocurrencies are one of the last legal ways for small investors to grow rich, starting with a small initial grubstake.


On Friday, March 17, 2017, a tiny little cryptocurrency called EnergyCoin was trading at a little over one third of a penny. The exact price was .003578 of a dollar.

Then a powerful super-spike struck and over a 99-day period EnergyCoin skyrocketed to 34 cents. That’s a whopping 9,566% gain — enough to turn a $1,000 investment into a staggering $95,660.

Or imagine if you had a good feeling about EnergyCoin and put down $5,000…

You could have collected $478,300. That’s over $4,800 a day for 99 days straight. Double that starting stake to $10,000, and you’re looking at close to a cool million… from one single trade.

That’s like earning a $9,662 salary… per day… for more than three full months!

Now I hope you can you see why I’m so excited about the unlimited potential of these super-spikes in cryptocurrencies.

Practically every day, I’m seeing astronomical gains of 300%…400%… even 3,000% — some in as little as 24 hours.

Here’s another opportunity that came along…

On November 20th, 2013, a cryptocurrency by the name of Freicoin was ripe for the picking. Shares traded for fractions of a penny.

10 days later, shares exploded to 33 cents each. Even a small investment was a moon shot.

Had you put $5,000 into this cryptocurrency play, you would have earned yourself a fantastic sum of $291,500. That’s a gain of 5,820% — in just one simple move.

But here’s where it really gets interesting…

Let’s say you put all that money into another little-known cryptocurrency named Digitalcoin.

On December 14th, 2013, just 14 days later, you could’ve earned five times your money.

You’d be rewarded with a massive sum of $1,489,565.

That would have made you a millionaire in just 24 days. And with just two simple moves.

Now let’s take it up a notch…

Imagine you make one final perfectly timed move…

Had you rolled your money into a cryptocurrency by the name of Worldcoin that was trading for just pennies on the dollar…you’d have made another 300% in short order.

That’s enough to turn your initial stake of $5,000 into a landslide lump sum of over four million dollars.

$4,021,825 to be exact.

That’s three buys and three sells. And a starting stake of just $5,000 would’ve turned into more than $4 million dollars.

Beats working for a living, right?

OK, but let’s be completely honest…

For every winner, there are probably 100 more cryptocurrencies out there that are nothing but duds. Right?

That’s why in order to “win” in this market — and to win big — you need to be able to separate …read more

Source:: Daily Reckoning feed

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Exclusive KE Report Commentary – Thu 10 Aug, 2017

By Cory Trader Vic: The Markets Are Shaky Due To More Than Just War Talk

We have been talking a lot about the war chatter moving markets. I continue this discussion with Trader Vic and assess what other reasons the markets could be moving down for. He also shares his strategy for holding certain investments into the weekend.

Download audio file (2017_08_10-Trader-Vic.mp3)

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Source:: The Korelin Economics Report

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What Is the Ultimate Trump Trade?

By Jawad Mian

This post What Is the Ultimate Trump Trade? appeared first on Daily Reckoning.

We are falling head over heels in love with Tesla (NASDAQ: TSLA) — the ultimate Trump trade in our opinion.

Tesla’s stock is up 66% this year and nearly 89% since the U.S. election, surpassing General Motors to become the most valuable U.S. automaker.

To the extent that President Trump’s economic nationalism prioritizes the creation of U.S. jobs and valuable, domestic high-tech manufacturing industries, we believe Tesla stands at the epicenter of that.

The company employs 25,000 workers in the U.S. and could easily double that as it ramps up production for its new Model 3 and expands its manufacturing facilities in New York and Nevada. About 83% of Tesla’s employees, who are spread across its car and battery manufacturing plants, are in the U.S.

The strategic relationship between Elon Musk, Peter Thiel and the Trump administration is an important development that should support Tesla’s business activities.

Tencent, Asia’s tech giant, has purchased a 5% stake in the company, which we also view positively.

Recently reported results give us further confidence in the company’s operations. The company expects vehicle delivery growth of 61–71% for Model S and Model X in the first half of 2017 compared with the same period last year, and the Model 3 program is on track to start limited vehicle production in July and steadily boost production from there.

To quote Victor Hugo, “Nothing is more powerful than an idea whose time has come.” Mass adoption of electric vehicles is coming and much sooner than most people realize. Tesla is at the vanguard of the world’s inevitable shift toward a sustainable energy platform.

From a technical perspective, the price consolidation from 2014 is ending and supports a strong trending move.

Barriers Mean Nothing…

Jesse Livermore, one of the greatest speculators of all time, believed that when a stock crosses 100 or 200 or 300 for the first time, the price does not stop at the even figure but goes a great deal higher. “It was an old trading theory of mine… So that if you buy it as soon as it crosses the line, it is almost certain to show you a profit. Timid people don’t like to buy a stock at a new record high. But I had the history of such movements to guide me.”

We have been timid thus far but will follow Livermore’s advice. With more than a quarter of Tesla’s float sold short (31 million shares and an estimated 7.7 days to cover), “stormy weather in Shortville” should continue for a while.

We can easily imagine Tesla’s stock doubling in price over the next two–three years.

We believe Tesla is the quintessential American brand and Elon Musk embodies the cult of personality that investors are attracted to in the final stages of the bull market.

The “Tesla Bears Club” will only grow more frustrated despite their (arguably rational) arguments.

Alex Potter, who covers Tesla at Piper Jaffray, describes it thus (emphasis added):

Tesla’s products have a captivating impact on consumers and shareholders …read more

Source:: Daily Reckoning feed

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What Is Ethereum, and Should You Invest In It?

what is ethereum 1

By Samuel Taube

Our economy could not exist without rules.

A simple debit card transaction would be impossible without the existence of complex contracts, financial institutions and accounting techniques.

But these essential protocols are only as trustworthy as the humans who maintain them. And as we all know, humans aren’t perfect.

Accountants at Enron and WorldCom created billions of dollars in imaginary shareholder value. More recently, Wells Fargo’s account executives opened millions of bogus accounts without the consent of their clients.

Today, a new and fast-growing cryptocurrency project is looking to eliminate the destructive effects of “bad apples” like these. It’s called Ethereum, and it makes its predecessor, bitcoin, look downright primitive by comparison.
What Is Ethereum?
When you saw the word “cryptocurrency” in the last paragraph, your mind probably went straight to bitcoin – the stateless, bankless currency we’ve written about before.

On a surface level, Ether (the digital currency of the Ethereum project) bears some similarities to bitcoin. Both are digital payment tokens that exist in a decentralized, public and tamperproof ledger called a blockchain. As a result, both are outside the control of any government or financial institution.

Rather than being issued by a central bank, these tokens have value that is backed by the blockchain itself, which contains records of every transaction. Since these records are stored redundantly on thousands of computers around the world, it’s impossible to manipulate them through accounting shenanigans…

However, there are significant differences between bitcoin and Ethereum. Bitcoin is basically the cyberspace equivalent of gold bullion. It’s just a store of value. It has no steady inflation rate and no mechanism for automatic or contractual payments.

Ethereum, on the other hand, is much more sophisticated. It’s not just a digital currency; it’s also a programming language that allows users to set up self-executing payments called “smart contracts.”

This is the truly revolutionary thing about Ethereum. Smart contracts eliminate the need for lawyers, accountants or financial intermediaries. They’re voluntary agreements that are coded into the blockchain, making them public and tamperproof.

For example, the process of leasing an apartment could be automated – sans lawyers or banks – with a smart contract. The tenant and the landlord could write code together that automatically transfers the monthly rent (in Ether) from the tenant to the landlord. If the tenant had an insufficient balance of Ether, then the code could automatically forfeit the security deposit to the landlord.

It’s easy to imagine that investment contracts – like options and futures – could be automated through Ethereum smart contracts as well. This could substantially bring down transaction costs by eliminating the need for expensive lawyers and underwriters in this process…

In short, Ethereum technology could pave the way for cheaper, more private and more democratized financial systems. And major financial institutions, from JPMorgan Chase to the Luxembourg Stock Exchange, have started to develop Ethereum-based applications.

Should You Buy Ether?
Ethereum technology is definitely worth keeping an eye on. But it’s not quite time to pour your money into it yet.

When Chief Investment Strategist Alexander Green wrote about bitcoin back in …read more

Source:: Investment You

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Chris Temple from The National Investor – Thu 10 Aug, 2017

By Cory Markets are down for the 3rd day in a row… Are the bears going to be right this time?

With US equity markets pulling back fro the third day in a row we are again hearing about the potential of a major market pullback. Considering the daily drops have been less than a full percent Chris Temple and I consider if the bears are getting a bit ahead of themselves.

Click here to visit Chris’s website for more great investment commentary.

Download audio file (2017_08_10-Chris-Temple.mp3)

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Source:: The Korelin Economics Report

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