How is President Trump doing? With a one being worst and a ten the best.
Total Voters: 36
Loading ...U.S. Government institutes Phase I price controls. Invoking the powers granted to the president by the Economic Stabilization Act of 1970, President Nixon orders 90-day nationwide freeze on all wages, prices, salaries and rents.
Gold purposely not mentioned anywhere in entire link.
http://www.npr.org/news/specials/oil/gasprices.chronology.html#a1970
Ipso, those HL earnings looked pretty good. They’ve been off my radar for awhile.
Farmboy – hard to see us winning the battle with the USD as strong as it is today. Probably should be counting our blessings that we aren’t getting hammered even worse.
Simmons was motivated by the 1973 energy crisis to create an investment banking firm catering to oil companies.
Comment:
There was NO ENERGY CRISIS. In was a falling dollar crisis, after the de-coupling of gold backing on the US Dollar in 1971. Plain and simple. Currency values are UNSTABLE, therefore PRICES are unstable. If prices are unstable, supply and demand becomes unstable. THAT’S the problem. Instability. So it natural for TPTB to CONSTANTLY re-direct our attentions in the wrong directions.
I remember $2/bbl to $42/bbl 1970 to 1980.
Oil 1970 $2.00 /bbl
Oil $1980 $42.00 /bbl
A whopping 2,000% increase. After gold backing removed.
What a load of crapola that was. Warning us that our consumption would over take production, and it would be the end of the world. Obviously it was I’m-propaganda to make us turn to wasting our tax money and investment money on green energy related welfare jobs.
Twilight in the Desert is a book by American investment banker Matthew Simmons.[1][2] The text was initially published on June 10, 2005
Description, book.
“Twilight in the Desert reveals a Saudi oil and production industry that could soon approach a serious, irreversible decline. In this exhaustively researched book, veteran oil industry analyst Matthew Simmons draws on his three-plus decades of insider experience and more than 200 independently produced reports about Saudi petroleum resources and production operations.
He uncovers a story about Saudi Arabia’s troubled oil industry, not to mention its political and societal instability, which differs sharply from the globally accepted Saudi version. It’s a story that is provocative and disturbing, based on undeniable facts, but until now never told in its entirety.
Twilight in the Desert answers all readers’ questions about Saudi oil and production industries with keen examination instead of unsubstantiated posturing, and takes its place as one of the most important books of this still-young century.”
Oil in 2006 $80/bbl
http://www.mrci.com/pdf/cl.pdf
Comment: Do not believe anything or take for granted, anything from their media. The author with the right credentials was probably chosen by TPTB to create and spread the I’m-propaganda.
TWILIGHT IN THE DESERT, MY ASS
part: “He was wrong in his shrill predictions about US gas “going over a cliff”. He predicted a catastrophic drop in US natural gas production by summer 2005. That never transpired, and in summer 2008 US gas production is *rising* at a rapid clip”
http://peakoildebunked.blogspot.com/2008/10/379-twilight-in-desert-my-ass.html
Buygold was right, I needed a lesson in humility and today was as good as any to go back to school. 🙂
Thought I seen the future on Friday, but I was wrong. Just added enough JDST to cover my JNUG from Friday so the trading account is for all practicable purposes in a ‘Neutral’ position. Could still lose or make a couple hundred either way, but should avoid a total trading disaster. (One hopes. lol)
Got some things to do so the day will not be complete loss of time. Check back around 3:00 this afternoon to see if anything has changed and try to figure out where we might go tomorrow.
Like the song says, some days are diamonds, some are….well, ya know.
Hecla Reports First Quarter 2017 Results
For Period Ended: March 31, 2017
COEUR D’ALENE, Idaho–(BUSINESS WIRE)–May 8, 2017–Hecla Mining Company (NYSE:HL) (Hecla or the Company) today announced first quarter financial and operating results.
FIRST QUARTER 2017 HIGHLIGHTS
Net income applicable to common stockholders of $26.7 million, or $0.07 per basic share.
Adjusted net income applicable to common stockholders of $16.7 million, or $0.04 per basic share. 1
Sales of $142.5 million.
Cash provided by operating activities of $38.3 million.
Adjusted EBITDA of $53.9 million and net debt/adjusted EBITDA (last 12 months) of 1.1x. 2,3
Free cash flow of $16.6 million. 4
Cost of sales and other direct production costs and depreciation, depletion and amortization (“cost of sales”) of $107.6 million.
Silver cash cost, after by-product credits, of $0.84 per ounce, the lowest in over five years. 5
All in sustaining cost (AISC), after by-product credits, of $7.60 per silver ounce. 6
Cash and cash equivalents and short-term investments of $213.3 million.
“We have started 2017 with strong sales, net income and free cash flow, and our silver margins remain among the top in the industry, driving an increase in cash balances and strengthening our balance sheet,” said Phillips S. Baker, Jr., President and CEO. “While the increase of cost of sales over last year reflected the higher throughput from the Casa Berardi open pit operations, our cash cost, after by-product credits, declined 73% to $0.84 per silver ounce and our AISC, after by-product credits, declined 24% to $7.60 per silver ounce. For the remainder of 2017, our focus is on growing reserves and resources, investing in new technologies that will increase productivity, mine life and margins, and advancing the underground at San Sebastian as well as optimizing the open pits at Casa Berardi. In addition, we are focused on working to end the strike at Lucky Friday. In the meantime, we are suspending our Lucky Friday and Company-wide estimates for silver production and cost, until it is resolved.”
cont. https://seekingalpha.com/filing/3537627?uprof=46&utoken=d650f8aac714ca5c83e0eb64944ee22a
There are two hours each morning full of sound and fury, that usually mean little to a PM Investor/Trader.
The first hour of unimportant, is the Crimex open from 08:30-09:30, where more often than not is a daily dose of beat down.
The second hour that often means little is the Stock Market open from 09:30-10:30. Again full of headlines, criers of the Wizards of Wall st, and again, usually changes before the market close.
What often works for me is to ignore these two hours, and then see where the market(s) want to go on their own.
A little after 10:30 I will have to make the call to either double down the JNUG, or jump trains to the ‘Dark Side’ with some JDST.
Let the dust settle a little, and perhaps a more clear picture will emerge. Lets hope.
MACBETH
She should have died hereafter;
There would have been a time for such a word.
To-morrow, and to-morrow, and to-morrow,
Creeps in this petty pace from day to day
To the last syllable of recorded time,
And all our yesterdays have lighted fools
The way to dusty death. Out, out, brief candle!
Life’s but a walking shadow, a poor player
That struts and frets his hour upon the stage
And then is heard no more: it is a tale
Told by an idiot, full of sound and fury,
Signifying nothing.
My understanding of how the European Union, and the common currency of the Euro, came into being was not that citizens of 10 countries voted to join the abrogation, but that their politicians sold (gave away) their nations sovereignty and individual rights by signing away, through various ‘Treaties’, these important national rights.
The people of France just had the opportunity to take back their Country, and their Freedoms. I am truly sad for them as a long history of Freedom and Pride has apparently come to an end.
The champagne must be flowing at the tables of the Elites this morning.
Goodbye France, we loved you well. We will try to keep the ideas of that Statue you once gifted us alive and well. The famous passing of ‘The Torch’ if you will.
ICE AGE BRITAIN: River Thames will FREEZE OVER on ‘this date’ – and could kill millions
http://www.dailystar.co.uk/news/latest-news/611671/ice-age-britain-freeze-climate-change-weather
We still have a chance today in picking up a few bucks. Obviously the Gold & Silver prices are not breaking any new ground, so lets put that engine at the rear of the Gold Train for now. If we can get a similar day to last Friday, where the Pm prices did very little, but the mining stocks ease up a couple percent, we gonna be alright. Come to think of it, maybe that is the best way to inch our way out of this Gorge, let the miners lead the way ? Might make for a stronger recovery?
Forgot to pick up the dog food yesterday while doing the grocery shopping so have to run to the store. Should be back in time for the opening bell. You and Maya try not to run the Train into the river while I make a run.
🙂
Probably a good thing as the USD is a bit stronger.
So Macron’s election was a big nothing burger.
Yeah, they got us deep in the canyon, but we’ll find the way out… Cruising thru the Royal Gorge
http://railpictures.net/photo/610046
But there is one market that saw a sizable move (and heavy volume – standard $300 million notional dump into extremely thin markets).
But that is bouncing back too.
So – all in all, a big anti-climax. But of course with SNB and BOJ buying to come, who knows where we open at 930am ET tomorrow…
I no longer feel sorry for France but the people before them. They had a chance to save themselves but choose more of the same. MA mentioned some places were tearing up LePen ballots. Anything we do will be one sided thing with them and now not deserved.
Too bad for France! Now they will get more of the same, and increased immigration. What’s happening to Europe is a tragedy.
The Inflection Point: Venezuela’s Military Begins To Defect, March With Protesters
One month ago, when discussing the latest “explosive” turn in Venezuela’s political situation, we predicted that the worst case for president Nicolas Maduro who has so far managed to keep the army on his side even as Venezuela faces now daily violent and in some cases deadly protests, would be the start of the local army turning on the regime, and defecting to join the protesters. Overnight, according to Thor Halvorsen of the Human Rights Foundation, this “inflection point” appears to have arrived when he observed in a Tweet that “the military in parts of Venezuela has begun to defect. They are now marching *with* the protesters. Dozens of soldiers are under arrest.”
http://www.zerohedge.com/news/2017-05-06/mystery-central-bank-buyer-revealed-goes-q1-buying-spree
These are the same dolts who dumped 800 Tonnes of Gold and bt the SM….so far they look real smart.
California Wants To Tax Space Flights…
…only in the land of fruits, nuts, and flakes… which apparently extends 62 miles high.
Wow! Not only did Buygold make coffee… Farmboy left some for us Noon sleepers! Say Hallelujah!
Just one day before the French election, a massive pile of documents were released about the establishment candidate Emmanuel Macron.
I went through the documents and found Macron’s secret plan to Islamize France.
https://www.therebel.media/macronleaks_reveal_islamization_plans
UCLA is only about 50-60 years s late to the party:
Los Angeles—(UCLA) quietly published the results of a new approach in the treatment of Alzheimer’s disease. What they found was striking. Although the size of the study was small, every participant demonstrated such marked improvement that almost all were found to be in the normal range on testing for memory and cognition by the study’s end. Functionally, this amounts to a cure.
These are important findings, not only because Alzheimer’s disease is projected to become ever more common as the population ages, but because current treatment options offer minimal improvement at best. Last July, a large clinical trial found little benefit in patients receiving a major new drug called LMTX. And after that, another hopeful drug designed to target amyloid protein, one of the hallmarks of Alzheimer’s disease, failed its first large clinical trial as well. Just two months ago, Merck announced the results of its trial of a drug called verubecestat, which is designed to inhibit formation of amyloid protein. It was found to be no better than placebo.
The results from UCLA aren’t due to an incredible new drug or medical breakthrough, though. Rather, the researchers used a protocol consisting of a variety of different lifestyle modifications to optimise metabolic parameters – such as inflammation and insulin resistance – that are associated with Alzheimer’s disease. Participants were counselled to change their diet (a lot of veggies), exercise, develop techniques for stress management, and improve their sleep, among other interventions. The most common ‘side effect’ was weight loss
The study is notable not only for its remarkable outcomes, but also for the alternative paradigm it represents n the treatment of a complex, chronic disease. We’ve spent billions of dollars in an effort to understand the molecular basis of Alzheimer’s in the hope that it will lead to a cure, or at least to more effective therapies. And although we have greatly enlarged our knowledge of the disease, it has not yielded many successful treatments.
This is the time the sun, of late
Content to lie abed till eight,
Lifts up betimes his sleepy head –
And love stirs in the heart of a maid.
This is the time we dock the night
Of a whole hour of candlelight;
When song of linnet and thrush is heard –
And love stirs in the heart of a bird.
This is the time when sword-blades green,
With gold and purple damascene,
Pierce the brown crocus-bed a-row –
And love stirs in a heart I know.
which is probably not a bad way to go, compared to some. Heaven is not at all like I thought it would be.
I had expected trumpets to be blaring at my unexpected arrival. Angels to break out singing, and a New Orleans Jazz band to be playing ‘When The Saints Come Marching In.’ Not that I am any kind of Saint, not even close, but I figured if you made it up the stairway, they played that song for every new arrival.
I thought Peter or Paul would be there to explain the situation to me. Pulling out a clip board of all the things I had done ‘Good’ in life that would justify one such as me entry into the Heavenly Country Club. I expected the long list that would detail my good deeds, and was shocked to see a blank page with ‘Nothing’ stamped across it. But they would turn that page over, and the next page would have hand written by the Boss Himself, the words, ‘Grace’ and ‘Mercy’.
Well, that’s kinda what I thought it would be like on my arrival day.
Nope, just Buygold standing there telling me there was not any bad news that day, and (better be sitting down for this one) making a pot of coffee.
Oh wait….here comes some ten foot angel dude and he looks like he means business. He explains that there has been a mistake and my appointed time is not up. Explaining that I must return for a season longer he asks before I go if I would be willing to fill out a short ‘Customer Satisfaction’ card. I told him sure, why not?
Under the Question: ” How was your arrival experience?” I checked the box, ‘Better than expected’.
The Angel thanked me, and said “Go ahead and take the coffee cup with you on your journey home. One for the Road. And remember, ‘Life is Great’.
Sometimes, between that first and second cup, there is a world that exists that the eye yet can see. You might encounter an angel or two, or even Buygold standing there with a cup of coffee.
Well, I better run so I can join in for the last verse of Amazing Grace and so I can tell that preacher he was right, ” We cannot even imagine how good it’s gonna be.” 🙂
Thanks for the coffee Buygold !
