When Budget Deficits Will Really Go Vertical

By MN Gordon Mnuchin Gets It United States Secretary of Treasury Steven Mnuchin has a sweet gig. He writes rubber checks to pay the nation’s bills. Yet, somehow, the rubber checks don’t bounce. Instead, like magic, they clear. How this all works, considering the nation’s technically insolvent, we don’t quite understand. But Mnuchin gets it. He knows exactly how full faith and credit works – and he knows plenty more. Master of the Mint and economy wizard Steven Mnuchin and his wife at the annual ritual greenback burning festival. [PT] In fact, Mnuchin’s wife, Louise Linton, says she admires him because “he understands the economy.” And Mnuchin, no doubt, admires Linton, a Scottish actress 18 years younger, because “she loves SoulCycle Snapchat filters that make people look like puppies and piglets.” Naturally, Mnuchin gets the importance of puppy and piglet filters and how this bizarre fad fits into the big … Continue reading

Special Edition – A Must-Read Crypto Alert

By Rich Jacobs This post Special Edition – A Must-Read Crypto Alert appeared first on Daily Reckoning. I’m liking what I see from the crypto markets lately. It may sound foolish or dangerous to say this, but hear me out. If you look at the myriad attacks on crypto over the last month, the return to November 2017 pricing and the recent settling and smoothing of the market, I can understand your skepticism. Look, I get it. Recently, there have been a lot of negative forces beating down the crypto market: JPMorgan Chase, Bank of America and Lloyds in England all stopped allowing their customers to use credit cards to buy crypto (although debit cards appear to work just fine) The stock market dropped 12–13%, and because the people with money saw a steep decline in their portfolios (and hence, their crypto spending money), the crypto markets were pulled down … Continue reading

Rio Tinto’s Mongolian copper worries mount

By analyst By Frik Els Shares in Rio Tinto-controlled Turquoise Hill Resources opened 3% lower on Friday after the Mongolian government reinstated a decade-old agreement ordering the Vancouver-based company to source power for its Oyu Tolgoi mine domestically. Rio Tinto, down 1.8% in New York, could face higher costs on its $5.3 billion underground expansion of the giant copper-gold mine in the South Gobi desert near the border with China. Last month Rio Tinto set up a 80-person office in Mongolia, independent from Oyu Tolgoi to strengthen ties with Ulaanbaatar Mongolia gave Rio four years to build a local power plant which could come with a bill as high as $1 billion to serve the mine in the land-locked country to replace Chinese suppliers. Rio said in a press release Friday “the cost and means of financing this will be finalized between shareholders”: Rio Tinto will continue to review its … Continue reading

Acacia Mining admits in talks with Chinese over potential sale of Tanzania assets

By analyst By Cecilia Jamasmie Acacia Mining (LON:ACA), Tanzania’s No.1 bullion producer, which has been hit hard by a long-running dispute with the government of the East African nation, is mulling the sale of stakes in some or all of its operations in that country. In response to media speculation on the matter, the company said it was “engaging with a small number of potential investors” over the potential deal, adding it ad received expressions of interest from Chinese companies. The process “remains at a very early stage,” it said in the statement, adding there could be “no certainty that an agreement will be reached.” Barrick, which owns 63.9% of Acacia, has a close ties with the rumoured suitors — Shandong Gold and Zijin Group. The companies involved in talks with Acacia, which is majority owned by Barrick Gold (TSX, NYSE:ABX), are Shandong Gold Mining and Zijin Mining Group, according … Continue reading

General Market Commentary – Fri 16 Feb, 2018

By Cory Worst Week for the Dollar since 2015-2016, While Stocks Continue to Recover I always read over Marc Chandler’s site when I get to my computer. The post below is a great example of the content he breaks down. I find it gives me a great overview of what is happening in a wide range of markets. This post more of an overview of currency and market moves for the week. Click here to visit Marc’s website for more great content. Nearly all the major currencies have risen at least two percent against the US dollar this week. The Canadian dollar is an exception. It has risen one percent this week ahead of today’s local session. Sterling is becoming another exception after disappointing retail sales. It is up just shy of two percent. The Dollar Index is off 2.3% on the week, which would be the biggest weekly loss … Continue reading

Valuable Insights from Around the Web – Fri 16 Feb, 2018

By Cory Opportunity Knocks… Will Gold Bulls Answer? I apologize as posting will be a bit light today on the site. I am busy putting together the weekend show which will be mainly market/investing focused this week and next. Plus the response I am getting with questions for Quinton is quite extraordinary. The full interview will be included on our weekend show. In the meantime here is a straightforward gold chart from our friend Chris Kimble at Kimble Charting Solutions. …This post was intitally posted at SeeItMarkets. Click here to visit the site. Gold investors have enjoyed a strong start to 2018. After a brief pullback into early February, the shiny metal has charged higher once more. The question now: Is a major breakout on the way for gold and precious metals bulls? Looking at the chart below, you can see that a strong base has been built in both … Continue reading

The 2007-9 Crisis Will Return in 2018 – With A Vengeance

Posted on February 16, 2018 by Egon von Greyerz US economics is extremely predictable. It doesn’t matter who is President and what party he comes from. Because every president will spend more money than the US can afford. On average, US Federal debt has doubled every 8 years since Reagan came to power in 1981. And Trump has just fulfilled the prediction. The budget deal that has been agreed is guaranteed to produce substantial deficits in coming years. The current year’s deficit might be just under $1 trillion but thereafter it is virtually guaranteed that the US will not have a budget deficit under $1 trillion for many, many years. US FEDERAL DEBT $40 TRILLION BY 2025 During Bush Jr, debt went form $10T to $ 20T. Whether Trump will manage to keep it below $28T by 2021 is questionable. What is more certain is that by 2025, whoever is president, … Continue reading

Bayhorse Silver Produces Silver

Source: Bob Moriarty for Streetwise Reports 02/16/2018 Bob Moriarty of 321 Gold recommends doing the math to profit from silver, and describes a silver miner he believes is “on to something.” For all the braying of donkeys on the web of whatever size and flavor, the fact remains that at any given day and time no one knows what the correct price for silver or gold might be. Is $1,360 the right price for gold and $16.51 the right price for silver? Is $50,000 right for gold and $2,000 for silver? Is gold really worth only $750 or will it become worthless, as John McAfee said recently in December just before nailing the very top in “Bitcon”? We just don’t know and investors are being forced into listening to whatever guru does the best job of fulfilling their fantasies. There actually is a far easier and more profitable way to … Continue reading

Interview: Gold Needs to Show Strength in Real Terms

By Jordan Roy-Byrne CMT, MFTA With gold and gold stocks rebounding this week Jordan Roy-Byrne, Founder and Editor of TheDailyGold.com shares some nuances that he is watching. He points to the HUI gold bugs index that last week closed at a 14 month low. Combining this with gold up against the dollar but not against US stocks or foreign currencies he really wants to see some more real strength in the metal. Click Here to Learn About & Subscribe to TheDailyGold Premium …read more Source:: The Daily Gold The post Interview: Gold Needs to Show Strength in Real Terms appeared first on Junior Mining Analyst. … Continue reading

Will Gold Breakout Now or Later?

By Jordan Roy-Byrne CMT, MFTA Gold has rallied back close to trendline resistance. Will it push through this time? That will depend on if Gold can breakout in real terms (against stocks, currencies) as its strength over the past year as been driven by only US$ weakness. Click Here to Learn More About & Subscribe to TheDailyGold Premium …read more Source:: The Daily Gold The post Will Gold Breakout Now or Later? appeared first on Junior Mining Analyst. … Continue reading