The Walls Close in on Team Obama

By David Stockman

This post The Walls Close in on Team Obama appeared first on Daily Reckoning.

[Ed. Note: To see exactly what this former Reagan insider has to say about Trump and the fiscal threats from politics and the debt ceiling, David Stockman is sending out a copy of his book Trumped! A Nation on the Brink of Ruin… And How to Bring It Back to any American willing to listen – before it is too late. To learn how to get your free copy CLICK HERE.]

It goes without saying that conservatives and their Sean Hannity media megaphones hated Barack Obama with a passion, and now realize that his administration facilitated and orchestrated a smear attack on the GOP candidate for President.

For instance, the Daily Caller was all over the case today with even more inflammatory detail from a former U.S. Attorney and two White House National Security Council (NSC) veterans:

Former President Barack Obama’s national security adviser Susan Rice ordered U.S. spy agencies to produce “detailed spreadsheets” of legal phone calls involving Donald Trump and his aides when he was running for president, according to former U.S. Attorney Joseph diGenova.

“What was produced by the intelligence community at the request of Ms. Rice were detailed spreadsheets of intercepted phone calls with unmasked Trump associates in perfectly legal conversations with individuals,” diGenova told The Daily Caller News Foundation Investigative Group Monday.

“The overheard conversations involved no illegal activity by anybody of the Trump associates, or anyone they were speaking with,” diGenova said. “In short, the only apparent illegal activity was the unmasking of the people in the calls.”

Col. (Ret.) James Waurishuk, an NSC veteran and former deputy director for intelligence at the U.S. Central Command, told the Daily Caller News Foundation’s (DCNF) that many hands had to be involved throughout the Obama administration to launch such a political spying program.

“We’re looking at a potential constitutional crisis from the standpoint that we used an extremely strong capability that’s supposed to be used to safeguard and protect the country,” he said. “And we used it for political purposes by a sitting president. That takes on a new precedent.”

Michael Doran, former NSC senior director, told the DCNF Monday that “somebody blew a hole in the wall between national security secrets and partisan politics.” This “was a stream of information that was supposed to be hermetically sealed from politics and the Obama administration found a way to blow a hole in that wall,” he said.

“That’s a felony,” he told the DCNF. “And you can get 10 years for that. It is a tremendous abuse of the system. We’re not supposed to be monitoring American citizens. Bigger than the crime, is the breach of public trust.”

Senator Rand Paul pointed the finger at Susan Rice. And now that Obama’s fingerprints are all over the Deep State’s 2016 election intrusions, there is an opening for junior GOP legislators to follow Senator Paul’s brilliant lead.

In pouncing …read more

Source:: Daily Reckoning feed

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Exclusive KE Report Commentary – Tue 4 Apr, 2017

By Cory An upper target for Crude this year of $60/barrel

“The Gold and Oil Guy” Chris Vermeulen updates us on the recent moves in crude oil. When we last spoke oil was in a downtrend and very close to breaking lower however there was the thought that it would reverse. Currently crude has bounced and Chris is watching for some higher resistance levels to break before running up to $60. We also discuss the relationship between energy stocks, the US markets, and gold.

Download audio file (04_Apr_2017-Chris-Vermeulen.mp3)

…read more

Source:: The Korelin Economics Report

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Dominion Diamond looks for potential buyers in own backyard — source

By analyst

By Cecilia Jamasmie

Dominion Diamond (TSX, NYSE: DDC), which put itself up for sale last week after receiving a $1.1 billion takeover bid from US billionaire Dennis Washington, is said to be looking to secure a deal with fellow Canadian diamond miners, a source familiar with the matter who wishes to remain anonymous said.

This is not the first time Dominion explores a sale. In Dec. 2015, it launched a similar process, which didn’t result in any deal.

The company, the world’s third largest producer of rough diamonds by value, has already created a special committee and is working with TD Securities to explore, review and evaluate a range of options for maximizing shareholder value.

Those alternatives, as the company informed, include selling the firm to another diamond miner, which according to one person with knowledge of the strategy, would likely be another Canadian company.

Dominion did not reply to requests for more information by the time this story was published, but previous media reports had named Stornoway (TSX:SWY), a small-size firm that recently opened its Renard mine in Quebec, as one of the miners interested in a potential merger with Dominion Diamond.

This is not the first time Dominion explores a sale. In Dec. 2015, it launched a similar process, which didn’t result in any deal.

Over the past year, the company was hit by weak global diamond prices, as well as sudden challenges, including the death of the company’s founder, Robert Gannicott, and a fire at Ekati that suspended processing for three months and cost the miner around $20 million in repairs.

In January, it announced that its chief executive officer Brendan Bell was leaving the company due to personal reasons related to the company’s planned move of headquarters to Calgary from Yellowknife.

The move, expected to be completed by mid-2017, follows a similar decision by De Beers Canada, which moved its headquarters from Toronto to Calgary in July last year.

Shares in the company were down 0.77% in Toronto to Cdn$16.83 at 12:31PM and were trading 0.95% lower in New York to $12.55 at 12:55PM ET.

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Source:: Infomine

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Richard Postma – The Doctor Is In – Tue 4 Apr, 2017

By Cory Fundamental drivers for the markets over the next couple months

Doc and I follow up on the conversation I had earlier with Rick. We discuss using Amazon as a barometer for the broad averages and the fundamental drivers for the markets over the next couple months. A new all time high is possible but Doc does not see it getting out of hand.

Download audio file (04_Apr_2017-Doc.mp3)

…read more

Source:: The Korelin Economics Report

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Both Gold and The Dollar Up From Recent Lows As More Fed Officials Comment on the Pace of US Rate Hikes

By analyst

At the close of US trading Monday April 3, gold futures remained 1% below their three-month high from Monday of last week. Since dipping into the $1190s on March 10 however, the price for one ounce… …read more

Source:: PRNewswire-Mining and Metals

The post Both Gold and The Dollar Up From Recent Lows As More Fed Officials Comment on the Pace of US Rate Hikes appeared first on Junior Mining Analyst.

Jim Rickards: Get Ready For the Scottish Exit

By Craig Wilson

This post Jim Rickards: Get Ready For the Scottish Exit appeared first on Daily Reckoning.

Jim Rickards joined the London based, Tip TV Finance show to discuss what to expect from Brexit, a Scottish Exit and what’s ahead in the global economy. The discussion covered the economist and bestselling author’s analysis while also digging into history as an indicator for the future.

The interviewer started the conversation by highlighting the United Kingdom’s triggering of Article 50 to leave the European Union. He asked Rickards whether he believed the U.K was on The Road to Ruin which prompted, “No. I think this is a very positive development. The U.K never should’ve been in the EU to begin with. It is not really part of Europe. It is culturally, legally, politically different. It was always a marriage of convenience at best.”

“The U.K has a very powerful common law tradition. Europe has a civil law tradition. This goes back to the late Roman Empire and updated through the Napoleonic Code. The basic European approach was “if you have a question, write a rule and if you have another question, write another rule.” Common law, which was really invented in the U.K, carried over to the U.S and other countries. This allows for what judges call equity. It is the ability to consider things that are not specifically written down in an effort to achieve fairness. These are two very different ways to approach law and regulation. They are not compatible in combination though.”

“The U.K never joined the euro currency, so this is much less of a traumatic separation than if France was to leave the EU. This should go smoothly… This makes a lot of sense.”

Jim Rickards is the bestselling author of “The Road to Ruin” and has just released the paperback version of his book “The Death of Money.” Rickards is a lawyer and economist who has worked on Wall Street and also advised the U.S intelligence community on currency war activity. Rickards was one of the few economic analysts in London prompting audiences on how to react to Brexit.

When asked about whether the U.K had a timely entrance and exit of the EU Rickards noted, “It probably should’ve never gone in but it was certainly the right time to get out. Europe is getting more integrated and has to. When critics note that Europe has a monetary union but not a fiscal union and that it is a fatal flaw they don’t realize that it was a flaw by design. They decided to do half of it at first in order to gradually move toward a fiscal unification. That’s what is happening now. They are moving toward a unified system of bank regulation with unified insurers. The U.K was never on board with any of that… This is a good separation where both will be considerable trading partners.”

When prompted on his read for a possible Scottish exit from the U.K and what …read more

Source:: Daily Reckoning feed

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Two Hot Metals, One “Magic Bullet” for Your Portfolio

By Greg Guenthner

This post Two Hot Metals, One “Magic Bullet” for Your Portfolio appeared first on Daily Reckoning.

The trading week is off to a rocky start as small-caps, retail, and auto stocks led the market lower for most of Monday’s trading session.

But precious metals turned higher during yesterday’s market weakness. And as S&P futures sink into the red this morning, gold has moved just a few bucks shy of its year-to-date highs.

Gold pushed into the green to kick off the new trading month, jumping $4 by settlement yesterday. The metal is now back over $1,260. Silver’s also sitting pretty. The poor man’s precious metal continues to consolidate last month’s big comeback move. Out of all the major metals, Dr. Copper was the only one to finish Monday trading in the red.

We spent plenty of time stalking the metals comeback during the first three months of the year. Today, we’re seeing why precious metals are set to extend their gains into the second quarter.

Unless you’ve been trapped in your cellar with no internet connection since Christmas, you know gold has posted a rocky comeback move in 2017. After rocketing out of the gate in January. the Midas metal hit rough waters last month. Gold finished lower for eight straight days to kick off March trading – and traders abandoned ship as precious metals endured their first correction of the young year. Gold didn’t get its groove back until a couple of weeks ago as the dollar rally lost steam.

[Ed. note: Gold’s no longer a simple safe haven investment. We just got our hands on new research that proves gold has the potential to do much more than just protect wealth. In fact, it could be the “magic bullet” your portfolio needs right now. Check out the details in the trading notes below your portfolio updates.]

Gold’s performance is a complete shift from the action we witnessed in the precious metals market during the fourth quarter. You’ll recall that gold almost fell apart at the end of 2016. But the new year helped turn things around in the precious metals world. Thanks to its improved performance to begin the year, the Midas metal started off on the right foot. Now that gold has shaken off its March drop, we’re seeing more constructive action in the precious metals market.

But gold’s not the only top performing metal this year. Most armchair investors can rattle off gold, silver, and platinum when it’s time to talk precious metals. But there’s another member of this elite club folks tend to forget that also feels right at home with its industrial metal counterparts…

I’m talking about palladium.

“This metal is most often associated with catalytic converters in automobiles, a system meant to clean emissions,” MarketWatch notes. “Another common use for palladium is in ceramic capacitors, which are an important part of common electronic equipment such as cell phones.”

Most folks aren’t paying a lick of attention to Palladium right now. Yet this forgotten precious metal is topping even gold’s Dow-beating …read more

Source:: Daily Reckoning feed

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How to Choose Mutual Funds for Your Retirement Account

By Samuel Taube 401(k)s give you a lot of advantages in planning for your retirement. Your employer matches some portion of your contributions, and you can borrow from them when it’s absolutely necessary.

But there’s one major disadvantage they have compared to IRAs. Some employers make you choose from a limited set of mutual funds. If you’re not familiar with the funds available to you, it can be difficult to put together a decent strategy for your retirement.

Let’s go over the basics of how to choose mutual funds for your 401(k).
Goals and Risks
Perhaps the most important aspect of how to choose a mutual fund is your goal. How much are you looking to grow your money? How long do you have before retirement? And what level of risk are you willing to tolerate?

To some degree, the answer to all three questions should depend on your age. If you’re younger, and just starting to save for retirement, then you should be very risk-tolerant. You have decades to grow your money, so you should invest in high-growth assets, even if they come with more risk. If the market crashes on you, you’ll still have plenty of time to recoup your losses.

However, if you’re a middle-aged investor, then stability should be your main concern. If you’re not that far from retirement, then you’ll need to start withdrawing from your 410(k) soon. That means you want to minimize your exposure to market risk, and pick reliable funds that will grow slowly or maintain their value.

Target-date mutual funds are becoming increasingly popular, and for good reason—they do all the risk-planning for you. You just pick the one with your intended retirement year on it, and voila, you’re allocated correctly.

But if you’d rather choose your risk-tolerance yourself, this table should help.

Younger investors
Older investors

Growth and smallcap funds
Bond funds

Value funds
Money market funds

Emerging markets funds
Domestic bluechip funds

Dividend funds
Dividend funds

It’s pretty easy to see the pattern. Younger investors should put their money in funds which will gain rapidly and are a bit more risky. Older investors should put their money in safer funds which will hold their value.

You might have noticed that dividend funds are in both categories. That’s because dividend stocks tend to be very stable companies which pay out their earnings to investors, making them ideal for older folks. However, those dividend payments can be reinvested to buy more shares, which can cause returns to grind exponentially higher over a long period of time. That’s why younger folks find them useful, too.

Another important consideration in choosing mutual funds is how much each one costs.

Mutual fund managers generally extract their pay from investors in two ways. Certain funds charge one-time fees on deposits or withdrawals. Others have expense ratios which are collected as a percentage of the fund’s returns, sort of like a commission. And some have both.

If you’re interested in a fund which charges fees, make sure those fees are less than 6% of the initial investment. If you’re choosing a fund with an expense ratio, it should be under 1%. And …read more

Source:: Investment You

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Investing Is Simple… but Not Easy (Here’s How to Succeed)

By Matthew Carr Investing is simple. Not easy.

You should understand this distinction. So allow me to clarify with a quick story…

I was listening to a gentleman probably 20 years older than me talk about how his guitar lessons were going.

He was intelligent. He was well-educated and successful. When he was a boy, his family pushed him toward the sciences and engineering. (He ultimately built a lucrative career in this field.) But in order to foster his success, they kept him away from anything having to do with the arts – music, painting, etc.

It wasn’t until three years ago that he decided to take up the guitar.

“It’s very frustrating,” he admitted. “I thought I would be better by now.”

All of his other successes – his aptitude for science and math, his mountain of professional accomplishments – had made him feel invincible.

He figured that if he read voraciously about music theory, he would pick up a guitar and, magically, be able to play like Wes Montgomery or Stevie Ray Vaughan. He didn’t expect he would have to put in the same amount of hard work that had been required in his professional life.

That dawning realization seemed to have knocked him back on his heels.

“I just want to be able to play something others can appreciate,” he said. “Something I can appreciate.”

At one point or another, I’m sure you’ve felt this way about some aspect of your life.

Most people get this feeling when they first start investing. And I believe a lot of this frustration – including claims that the markets are rigged or unfair – comes from the idea that you can just jump in and instantly be successful.

As I said, investing is simple… but not easy.

In fact, buying shares of a company online is less complicated than ordering a pizza. You just enter the ticker symbol and how many shares you want, and then press “submit order.” It doesn’t get simpler than that. (Alexander Green recently wrote about that here: “The One Investment Technique That Beats Growth… and Value.”)

But buying shares in a good company… an investment that’s going to generate strong income and/or returns? That’s far more difficult.

You have to understand whether the valuation metrics are good or bad…

Whether the company’s growth opportunities are solid…

If the management is intelligent and overcoming the challenges that dog its competitors…

There’s a lot to consider. And even if it all looks perfect – everything is in tune – some black swan event can always cause your investment to go belly up.

It’s how you respond in these moments that will determine if you belong at the “novice” table… or if you can sit amongst your more seasoned counterparts.

Most novice investors would opt to “average down” – that is, buy more shares of an investment that’s falling in value. They tell themselves that, by doing this, they’re moving their cost basis lower.

They fail to recognize that their cost basis is still well above the company’s current valuation.

I’m a proponent of using trailing stops. They eliminate the emotional side of hitting the sell button.

Losing money always …read more

Source:: Investment You

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Pink Star diamond breaks world record at $71.2 million

By analyst

Pink Star diamond breaks world record at $71.2 million

By Cecilia Jamasmie

The largest, most perfect pink diamond to have ever been offered at auction has sold for $71.2 million at a Sotheby’s auction Tuesday in Hong Kong, setting a new world record for any diamond or jewel, according to the auction house.

Described as one of “the earth’s greatest natural treasures”, the oval-cut 59.6-carat “Pink Star” is the largest internally flawless pink diamond that the Gemological Institute of America (GIA) has ever graded.

Until now, the most expensive diamond ever sold at auction was the “Oppenheimer Blue,” which fetched 56.8 million Swiss francs (more than $57 million at the time) last May. The previous world auction record for a pink diamond was $46.2 million for the 24.78 carat “Graff Pink” in 2010.

First unveiled to the public in 2003, the Pink Star was called the “Steinmetz Pink,” but it was renamed after it was first sold for an undisclosed sum in 2007.

The Pink Star is graded as Type IIa, which is rare for any pink diamond, much less one of this size. (Photo: Sotheby’s)

In 2013, the diamond broke a new world record price for a gemstone at auction by fetching $83.2 million in Geneva, way above the $60 million experts had predicted.

Not long after the sale, however, rumours began to spread that the consortium of buyers, led by diamond cutter Isaac Wolf, defaulted on the deal. In February 2014, Sotheby’s confirmed those unofficial reports and said the diamond was again part of its inventory, valued at approximately $72 million.

The Pink Star, originated from a 132.5-carat rough mined by De Beers in 1999, is more than twice the size of the 24.78-carat “Graff Pink” diamond that set the world auction record for a diamond, gemstone or jewel when it was sold at Sotheby’s Geneva in 2010 for $46.2m, the auction house said.

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Source:: Infomine

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