- Segment 1 – Our sole guest this week is David Horowitz author of Dark Agenda The War Against Christian America.
- Segment 2 – We continue with David Horowitz as he explains why he believes there is a war against Christian Americans.
- Segment 3 – We continue our discussion with David Horowitz with David stressing the hypocrisy in America.
- Segment 4 – We wrap up KER Politics with David Horowitz author of Dark Agenda The War to Destroy Christian America.
Jim McKinney will be collaborating with me in the future on most of our KER Politics Segments. I decided to do this because of the wealth of experience he brings as a retired Army Intelligence Officer with “boots on the ground” experience throughout the world which includes personal conversation with many of the leaders of the world.
What is seeming to be a trend right now is gold moving higher along with the US markets. All of this on the back on Fed rate cu expectations at the end of the month. Even though we saw some strong US data this week and inflation data above 2%, when Powell spoke in front of Congress he more or less assured us that a rate cut is coming.
In this weekend’s show we discuss all the points above with Jesse Felder, Marc Chandler, and Jeff Christian. Jordan Roy-Byrne also shares some details on an his updated book that looks at the potential of a long term gold bull market.
- Segment 1 – Jesse Felder kicks off the show with a discussion on how he views the overall trend and momentum for the US markets and gold.
- Segment 2 – Marc Chandler, Managing Partner at Bannockburn Global ForEx recaps where the Fed, ECB, an currently Bank of Canada stand while balanceing out the moves in the Dollar this week.
- Segment 3 – Jordan Roy-Byrne just updated his book outlining the long term gold bull market we could be just starting. If you want a free copy of his book visit his site, The Daily Gold, or email me at Fleck@kereport.com.
- Segment 4 – Jeff Christian, Managing Parter at the CPM Group takes a look inside this recent gold breakout and shares who is buying.
Exclusive Company Interviews and Comments
- The Renewed Interest In Rare Earth Elements and A REE Company Focused In Canada
- Minera Alamos – 2 Low CapEx Projects Close To Production In Mexico
- Great Bear Resources – Continuing to expand the resource with high grade drill results
- Brian Leni – Thoughts From A Recent Site Visit To Brazil
It is a bit of a slower day with calls so I figured I would post this preview to the weekend show. Jeff Christian wraps up the first hour with a look at the demand side of the gold market. Jeff had some very interesting comments on who has been trading into gold during this recent run.
Fund Manager Dana Lyons joins me to address the new all time highs in US markets. With large caps leading the way and overall momentum waning Dana still thinks now is not the time to fight the overall uptrend. We also look at the gold sector and how Dana is now trading it, after ignoring the overall sector for years.
Here are a couple websites of Dana’s that you can check out.
Big Al apologizes for for the somewhat “sloppy posting”. He is still learning.
The Royal Navy frigate HMS Montrose. (Photo by AFP/Getty Images)
(CNSNews.com) – A Royal Navy warship on Wednesday prevented Islamic Revolutionary Guard Corps (IRGC) personnel in small boats from stopping and boarding a British oil tanker in the Strait of Hormuz, according to U.S. and British officials.
They said several small boats approached the tanker British Heritage near the northern entrance to the narrow Persian Gulf strait, one of the world’s most strategic maritime chokepoints.
An unnamed U.S. official told Reuters that after the HMS Montrose, a Royal Navy frigate, “pointed it guns at the boats and warned them over radio,” the boats had dispersed.
A British government spokesman said early on Thursday, “Contrary to international law, three Iranian vessels attempted to impede the passage of a commercial vessel, British Heritage, through the Strait of Hormuz. We are concerned by this action and continue to urge the Iranian authorities to de-escalate the situation in the region.”
The incident came just days after senior regime officials in Tehran said that if Britain does not release an Iranian tanker detained off Gibraltar a week ago, then Iran may seize a British ship.
In response to queries, U.S. Central Command spokesman Capt. Bill Urban said in an email, “We are aware of the reports of Islamic Revolutionary Guard Corp Navy’s FAC/FIAC harassment and attempts to interfere with the passage of the UK-flagged merchant vessel British Heritage today near the Strait of Hormuz.”
“Threats to international freedom of navigation require an international solution,” Urban added. “The world economy depends on the free flow of commerce, and it is incumbent on all nations to protect and preserve this lynchpin of global prosperity.”
The abbreviations FAC/FIAC stand for fast attack craft/fast inshore attack craft.
A 2017 Office of Naval Intelligence (ONI) report describes Iranian FACs as small, fast vessels, obtained from China and North Korea or built domestically, able to reach speeds of 40-50 knots, and “armed with capable weapons systems, such as cruise missiles and torpedoes.”
FIACs are more lightly armed and tend to operate in “swarms.”
“Usually fitted with only machine guns and/or rockets, and used en masse, these vessels are capable of harassing merchant shipping and conducting swarm tactics during a force-on-force naval engagement,” the ONI report said.
The British Heritage, a 160,000-ton capacity tanker, sails under the flag of the Isle of Man, a British dependency.
Earlier this week it was reported that the HMS Montrose, which has been forward-based in Bahrain since April, had been escorting another British tanker, the Pacific Voyager, in the Hormuz area. That 302,000-ton capacity tanker also flies the Isle of Man flag.
Iran and Britain are at loggerheads over the seizure on July 4 of an Iranian tanker, Grace I, after it was boarded by British Royal Marines off the coast of Gibraltar, a British territory at the entrance to the Mediterranean Sea.
Gibraltar authorities say they acted on the grounds the ship was taking crude oil to Syria, in violation of European Union sanctions against the Assad regime.
Iran accused Britain of “piracy,” and then later claimed that the ship was not headed for Syria but another, unspecified, destination. The Grace I remains at anchor off Gibraltar as investigations continue.
A day after it was detained Mohsen Rezai, a former IRGC commander who now heads the Expediency Council – a body that advises supreme leader Ayatollah Ali Khamenei – said that if Britain does not release the ship it was Iran’s responsibility “to seize a British oil tanker in a retaliatory measure.”
On Tuesday this week, Iran’s chief of general staff Maj. Gen. Mohammad Bagheri said Britain’s actions would not go unanswered.
“The U.K.’s move will not be left without response,” he said. “If necessary, Iran will give a proper response to the act at an appropriate time and place.”
On Wednesday, Iranian media quoted President Hassan Rouhani as mocking Britain for deploying a warship in the region to escort its tankers because it was “scared.”
“You [Britain] are the initiator of insecurity and you will realize the consequences later,” Rouhani said after a cabinet meeting. “Now you are so hopeless that, when one of your tankers wants to move in the region, you have to bring your frigates because you are scared.”
Responding to news of Iran’s failed attempt to stop the tanker, Norman Roule, a former CIA veteran and advisor to the advocacy group United Against a Nuclear Iran, tweeted, “The international community needs to firmly & quickly stand with the UK at this moment.”
“Iran’s people also need to understand that Tehran’s actions will not be tolerated. The weak response to the mine attacks [on four tankers in June, blamed by the U.S. on Iran] may have encouraged this.”
Chairman of the Joint Chiefs Of Staff Gen. Joseph Dunford said this week the U.S. is proposing a coalition of countries to patrol and escort shipping in the Strait of Hormuz and another important waterway, the Bab el Mandeb in the south of the Red Sea.
Big Al says here is the other side of this story:
Iran Accuses UK, US of ‘Piracy’ After Seizure of Tanker Bound for Assad’s Syria
By Patrick Goodenough | July 5, 2019 | 4:26 AM EDT
A British Royal Navy ship patrols near the detained supertanker Grace 1 off Gibraltar. (Photo by Jorge Guerrero/AFP/Getty Images)
(CNSNews.com) – The Iranian regime is accusing Britain of an act of “piracy” after Royal Marines helped law enforcement officers in Gibraltar to seize a supertanker carrying Iranian crude oil to Syria in apparent violation of international sanctions against the Assad regime.
A contingent of Royal Marines in a helicopter and inflatable boats boarded the Grace I off Gibraltar and took control of the 331-meter-long tanker in the early hours of Thursday morning.
Local media reports say the detained ship remains at anchor while the 28 crew members are being questioned and investigations continue. Under prevailing law the ship can be held for 72 hours before a court order extending the hold becomes necessary.
Europe and United States are deeply divided over sanctions against Iran, but reported U.S. prodding succeeded in getting Britain to take action against the ship, on the basis of the oil’s destination, not its origin.
The tanker seizure comes at a time when relations between Iran and the E.U. are especially sensitive, as the E.U. at Iran’s behest struggles to keep the Joint Comprehensive Plan of Action (JCPOA) nuclear deal afloat despite the U.S. withdrawal and restoration of sanctions.
While the E.U. supports Iran’s right to export oil under the JCPOA, the U.S. is pressuring countries to stop buying it, in a broader effort to coerce Tehran into changing its behavior.
Reflecting the sensitivities, British Foreign Secretary Jeremy Hunt’s reaction to the incident did not mention Iran at all, focusing instead on the Syria angle.
British Royal Marines onboard the seized tanker. (Photo: Ministry of Defence, UK)
Hunt in a tweet congratulated Gibraltar and the Royal Marines “for this bold move to enforce Syria sanctions,” and said their actions had “denied valuable resources to Assad’s murderous regime.”
Reaction from a spokesman for Downing Street also focused on Syria: “We welcome this firm action to enforce E.U. sanctions against the Syrian regime and commend those Gibraltarian authorities involved in successfully carrying out this morning’s operation.”
By contrast, U.S. National Security Advisor John Bolton on Twitter referred to both Syria and Iran.
He noted that the oil was bound for Syria “in violation of EU sanctions,” and added that “America & our allies will continue to prevent regimes in Tehran & Damascus from profiting off this illicit trade.”
According to vessel tracking data cited by Lloyds List, the Panamanian-flaggedtanker took on its cargo of two million barrels of crude at an Iranian port in mid-April and then made the long voyage around the tip of Africa, headed for the Mediterranean.
(The website TankerTrackers.com says the Grace I took the long route because a fully-laden supertanker “can’t traverse the Suez Canal due to the water depth.”)
Gibraltar is a tiny British protectorate strategically located near the entrance to the Mediterranean and claimed by neighboring Spain.
Gibraltar’s chief minister, Fabian Picardo, in a statement Thursday highlighted the destination of the oil – the Banias Refinery in Syria.
“As the sanctions being enforced are established by the E.U., I have written this morning to the presidents of the European Commission and Council, setting out the details of the sanctions which we have enforced,” Picardo said.
He praised the Gibraltar port, police and customs authorities, and the Royal Marines, for detaining the vessel and its cargo
“Be assured that Gibraltar remains safe, secure and committed to the international, rules-based, legal order,” Picardo concluded.
‘Bullying’ US policy
According to Spanish media reports, Spain’s government is troubled by the incident and may file a formal complaint with Britain.
Spain does not recognize Gibraltar’s territorial waters, but considers them to fall under its jurisdiction.
The Gibraltar Chronicle quoted Spanish Foreign Minister Josep Borrell – who has just been named as the new European Union foreign policy chief – as telling reporters that Britain acted in response to a “demand by the United States” and that Spain was examining “how it affects our sovereignty because it happened in, what we understand, are Spanish waters.”
Iran’s state-funded Press TV commented that, “Since Iran’s tanker was carrying fuel and oil to Syrian people for solely humanitarian purposes, the measure taken by the British government is not only illegal, but also inhumane.”
“Iran and Syria enjoy vast commercial and trade ties and under the international law, Britain has no right to interfere in their relations,” it added.
Iran’s foreign ministry summoned the British ambassador and lodged a protest, accusing Britain of complying with “bullying” U.S. policy.
The ministry demanded the release of the ship, which it said had been sailing in international waters
Ministry spokesman Abbas Mousavi told Iranian television the actions of the Royal Marines were “a form of piracy.”
The Royal Marines, an arm of the Royal Navy, have a strong historical association with Gibraltar going back to the early 18th century, when they and Dutch forces in a joint operation seized the territory during a European conflict known as the War of Spanish Succession. (The word “Gibraltar” features on the badge of the Royal Marines.)
Much more recently, the Royal Navy was embroiled in a controversy with Iran, when in March 2007, an Islamic Revolution Guard Corps (IRGC) naval unit seized British sailors and marines off the Iran-Iraq coast, claiming they were in Iranian waters.
The regime held 15 Brits hostage for 13 days during which they were subjected to psychological pressure before then-President Mahmoud Ahmadinejad said he was releasing them as a “gift” to the British people.
In an earlier incident in the same area, Iran in 2004 seized two British sailors and six marines who were training members of the new Iraqi security forces in anti-smuggling operations. They were held for three days, during which time some were paraded on Iranian television and made to “apologize.”
The U.S. and several other countries accuse Iran of responsibility for sabotage attacks on six tankers near the Persian Gulf since May.
Craig Hemke, Founder of TF Metals Report pays very close attention to the Commitment of Traders report for the metals. It was less than 1 year ago that we were talking about how the “dumb money”, specs, had moved short. This was a sign that gold was due to bounce – which it did. Now the specs are close to historic long level. We discuss this change in the CoT report and how the upcoming Fed meeting is driving the moves in gold.
After our post on this issue yesterday, you are going to find this one to be exactly in line with ours. Thank you very much for this article, MORNING JOLT with Jim Geraghty!
Making the click-through worthwhile: Seven-to-ten burning questions about the ever-worsening Jeffrey Epstein scandal, why Democrats have convinced themselves that they have yet another Great Southern Hope, and Alexandria Ocasio-Cortez emphasizes how heavy her committee workload is.
Burning Questions about the Jeffrey Epstein Scandal
Even by the standards of stomach-turning celebrity criminal scandals, the bits of information about multi-millionare Jeffrey Epstein and allegations of an underage sex-trafficking ring are utterly bizarre, pointing to something perhaps even bigger and worse going on. Just the reports out this morning prompt at least ten big questions.
One: How did Jeffrey Epstein make his fortune in the first place? One claim is a massive Ponzi scheme.
Two: Could Epstein really have been connected to some sort of intelligence service? In yesterday’s press conference, labor secretary Alex Acosta offered a weird, vague, contradictory, meandering answer when asked about this. If Epstein was working for some sort of spy agency, which one? What was the aim, to collect blackmail on prominent figures? Who was being blackmailed, and what did they do?
Three: Why did the office Manhattan district attorney Cyrus Vance try to keep Epstein from being registered as a top-level sex offender? “A seasoned sex-crimes prosecutor from Mr. Vance’s office argued forcefully in court that Mr. Epstein, who had been convicted in Florida of soliciting an underage prostitute, should not be registered as a top-level sex offender in New York.” The judge denied the request and declared, “I have to tell you, I’m a little overwhelmed because I have never seen a prosecutor’s office do anything like this.”
Four: After Epstein was labeled a “Level 3 sex offender” — meaning the worst — Epstein was required by law to check in with the NYPD every 90 days. He never checked in at all over an eight-year span. How did that not generate any consequences?
Five: How did his private island off Saint Thomas get the nickname “Pedophile Island” and how does a rumor like that not get law enforcement to start snooping around?
Six: Bill Clinton’s public statement about his interactions with Epstein was laughably inaccurate, contracted by contemporaneous media accounts, never mind FAA flight logs. You would think Clinton and those around him would have a well-worn playbook for denying sexual impropriety and criminal behavior by now.
Pecker, he later told me, used to send him articles and issues before they were published so that he and Trump could read them. After the meeting Trump called in Sam Nunberg, then a Trump Organization employee, who saw Pecker leaving Trump’s office. “Michael was sitting in there when I came in, and the issue of the National Enquirer with the pictures of Prince Andrew was on his desk,” Nunberg recalled. “He said not to tell anyone, but that Pecker had just been there and had brought the issue with him. Trump said that Pecker had told him that the pictures of Clinton that Epstein had from his island were worse.” (Cohen, speaking by phone from the Federal Correctional Institution in Otisville, corroborated Nunberg’s version of the events, though he declined to add any additional information about the meeting.)
So the National Inquirer has pictures of Bill Clinton with Epstein and the women he was using?
If Trump knew about these photographs, why didn’t he at least leak or hype them during the 2016 campaign?
And if Clinton really did nothing inappropriate in all of his interactions with Epstein, why didn’t Hillary Clinton’s campaign make a stink about Trump’s past friendship with Epstein, during a campaign where Trump’s unsavory treatment of women was a big issue?
One aspect of Epstein that no longer has many questions: Is there anyone left who wants to argue that Alexandre Acosta handled the case the way he should have all those years ago?
Yesterday Great Bear Resources (TSX.V:GBR & OTC:GTBDF) released drill results that hit high grade gold mineralization extending the Hinge Zone. The extensions include 440 meters down plunge and 150 meters away from the nearest high grade past drill result. This follow another recent news release where the Company announced a new discovery at the Bear-Rimini area – click here to listen to an interview covering those drill results.
Great Bear’s President and CEO Chris Taylor joined to shares some more details on the 11 holes that were released and look ahead to the drilling still to come. We also touch on the recent private placement that give the Company more than enough money to complete the 90,000 meter drill program that is currently underway.
If you have any follow up questions for Chris or I please email me at Fleck@kereport.com.
Click here to visit the Great Bear website and read though the full news release. We outline Figure 1 in the interview.
Chris Kimble, Founder of Kimble Charting Solutions kicks off today by sharing 5 charts focused on gold and copper. For gold there are some side markets that need to perk up to confirm the bull market. In terms of copper, sentiment is washed out and the price is testing a lower support zone. Just a couple things to watch in the near term.