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GLD up 1.3%

USD down 1.7% – getting crushed

Has cartel fingerprints all over it. Gold should probably be up $50 today.

At least we’re up on an Op Ex day.

Was bummed to hear the Chinese aren’t helping to set the London fix.

Whether you are Canadian or American you will want to watch this important and informative video.

https://www.youtube.com/watch?feature=player_embedded&v=Fl3seahzQnk

Dennis Miller cracked a great one a day or two ago – proclaimed that he had just returned from a death penalty symposium at the Jiffy Lube.

LOL 🙂

Oil rot spreads as loan default claim puts Connacher Oil and Gas on brink

A New York lawsuit is threatening to make Connacher Oil and Gas Ltd. a casualty of crude’s collapse in Canada’s oil sands as creditors squeeze small producers in one of the priciest places to extract the fuel.

As oil prices resumed their slide to a new six-year low this week, creditors filed suit on Monday demanding Connacher immediately repay a $128.4 million loan. If successful, the suit would make it difficult for the company to stay in business unless it finds some other source of capital, according to Moody’s Investors Service Inc.

Connacher is among smaller oil-sands companies that drew interest from debt investors willing to finance upstart developments when U.S. crude prices averaged more than $90 a barrel. With prices now about half that, those so-called junior developers are fighting to stay afloat.

more http://business.financialpost.com/2015/03/20/oil-rot-spreads-as-loan-default-claim-puts-connacher-oil-and-gas-on-brink/?__lsa=3d13-7076

next wall being constructed right now at $1200

WASHINGTON (MarketWatch) — Greece is ready to play the Russian card, bringing a new geostrategic dimension to the euro crisis.

Greek Prime Minister Alexis Tsipras moved up his planned visit to talk to Russian President Vladimir Putin in Moscow to early next month instead of in May.

Faced with intransigence by the European Union and its other creditors in rolling back austerity and alleviating its debt burden, the Greek government is quietly dangling the prospect of turning to Russia for aid.

The Greek economy may represent an insignificant portion of the EU’s overall gross domestic product, but its location at the crossroads of Europe, Asia and the Middle East continues to be of considerable geostrategic importance.

more http://www.marketwatch.com/story/greece-ready-to-play-the-russian-card-2015-03-20?link=MW_popular

UPDATE: No Chinese banks in new London Gold Fixing system – yet

The new benchmarking process for gold in London has begun today, but without any direct Chinese involvement as yet. The new London Gold Fix – or LBMA Gold Price – as it is now called is beginning with only a small change from the participants in the old system – Barclays, HSBC, SocGen and Bank of Nova Scotia, will now be joined by UBS and Goldman Sachs to make up the number to six.

According to the LBMA there is as yet going to be no direct participation by any of the three Chinese banks which have expressed interest in joining and would appear to qualify for inclusion under the strict guidelines for doing so. The first new LBMA Gold Price benchmark price under the new system came in at $1171.75 at 10.30 am GMT this morning.

Many observers had felt that the inclusion of one or more of the Chinese banks – ICBC, Bank of China and China Construction Bank – would be inevitable from the start of the new process, but as we pointed out here a few days ago (See: Fixing the Gold Fix – with or without the Chinese banks?) their inclusion at the start was certainly not inevitable – even though China is comfortably the world’s largest consumer of gold whatever the World Gold Council and GFMS may say in qualifying what they present as Chinese consumption figures. China is also comfortably the world’s largest producer of the yellow metal and it seems extremely strange, and can only contribute to the thinking of those who believe the gold price is being suppressed by the establishment of major central banks and the bullion banks. Whether this is, in reality, the case or not will obviously be a continuing debate, but it does seem to be odd that given the huge undisputed flows of physical gold from West to East that the gold price has performed so badly over the past few years.

more http://www.mineweb.com/news/gold/no-chinese-banks-in-new-london-gold-fixing-system-yet/

sure Au is running but the shares are not leading and Nem is Dog of the Day, as the Scum sell hell out of it, to keep the Hui under the cosh.

Bumping $1180 now my friend! PM shares are liking it. 🙂

German DAX Surges Over 12,000 On Greek Optimism, But The Money Has Run Out

snip

With Greece’s coffers emptying and payments looming, Prime Minister Alexis Tsipras’s government is coming ever closer to a financial day of reckoning.

While Tsipras may have bought some time after yesterday’s European Union summit in Brussels, he still isn’t saying what’s left in the bank and acknowledges Greece is facing “liquidity pressure.” The country’s cash shortfall is projected to hit 3.5 billion euros ($3.7 billion) in March, according to Bloomberg calculations based on 2015 budget figures.

http://www.zerohedge.com/news/2015-03-20/german-dax-surges-over-12000-greek-optimism-money-has-run-out

according to the T/A gooroo’s $1175 is a big level

Maybe if we bust it we’ll get some nice short covering? No doubt the boyz will fight us.

I’m liking it! We could even put in a few good days in a row! Knock on wood

…and look at the USD in free fall this am. Maybe that’ll help the pm’s some today.

US “Isolated” As Key Ally Japan Considers Joining China-Led Bank

http://www.zerohedge.com/news/2015-03-20/us-cold-ally-japan-considers-joining-china-led-bank

Freeport Indonesia output stoppage enters 5th day as talks continue

http://finance.yahoo.com/news/freeport-indonesia-output-stoppage-enters-030247236.html

Sandstorm Gold Announces Restructuring with Luna Gold

http://finance.yahoo.com/news/sandstorm-gold-announces-restructuring-luna-100000006.html

Pilot Gold Completes 60% Earn-In at TV Tower

http://finance.yahoo.com/news/pilot-gold-completes-60-earn-103000490.html

Gold Train… disappearing to infinity in the mountains.
http://www.railpictures.net/viewphoto.php?id=405545

Newborn dies from a kiss of someone with a cold sore.

http://madworldnews.com/infant-dies-kiss/

Retired Navy Admiral James “Ace” Lyons is an expert at spotting threats and is not afraid to speak out when he sees them.

Adm. Lyons just issued a grave warning this week that 80 percent of American Islamic mosques “preach sedition.” He argued that America should end Muslim immigration and ban the building of mosques.

The admiral, author of the Center For Security Policy’s “Team B II” report on Islam in America and member of the Citizens Committee on Benghazi, spoke on a radio program claiming the Muslim Brotherhood has infiltrated the Obama administration to the point where “I would consider them a de facto cabinet member.”

While his claims are obviously extreme, his solution is certainly grounded in his lifetime experience of protecting American interests. Adm. Lyons brilliantly said he would undo the supposed infiltration by electing an “administration that puts America first.”

Lyons went further by pointing out that the Muslim Brotherhood “penetration” has been going on for decades and the real solution is to crack down on American Muslims. The admiral gave his statements during an interview with former Republican Senatorial candidate, Joe Miller. (H/T JoeMillerUS)

“Just a change in administration is not enough,” said Lyons. “There has to be a significant education program, and we haven’t touched on it.”

Lyons dire assessment continued, “Our borders must be secured. This is unconscionable what’s going on. And the immigration of the Muslims under the Obama administration that are pouring into this country must cease.”

The Navy Admiral made no attempt to hide the great lengths he would go to remedy the problem, “Their imams and those mosques should be closed down, they should be expelled to the countries where they came from and we should stop building mosques.”

He continued, “Just like Switzerland has stopped building them there and now some of the countries in Europe are starting to wake up to the threat that they’ve been so benign to.”

We recognize that Lyons’ rhetoric is strong but we support his disdain for the head-in-the-sand approach of the current administration. Obama needs to protect America from the enemy instead of giving them secret deals, secret jobs, and secret payments.

http://conservativetribune.com/admiral-calls-out-obama/

https://www.youtube.com/watch?feature=player_embedded&v=6wd3ack27jw