In my view the only thing that’s just about done now is the humongous placebo effect on the economy. That started last August. I don’t care if they achieve 2% unemployment, it won’t get general taxpayer wages higher WITHOUT legislation. Plain and simple.

We are in a fake manually adjusted man made centrally planned economy that is falling apart, because people running it, big business are stingy and won’t pay anything they don’t HAVE to pay.  They pay taxes right? Supposedly 35% goes to gov’t waste $4 trillion in Iraq for example.

The central planners are the swamp creatures. They need to screw themselves, or rather screw the gov’t, by dropping their tax as Trump said from 35% to 10 or 15% and they’d have more money to pay mandated livable wages.

Very low wages allowed by the naturally greedy businesses influences is a net tax break, or subsidy for themselves. Raising the minimum wage (on themselves) would be like a tax INCRESE paid for by less tax money paid to the US treasury instead of to the workforce that actually pays for EVERYTHING including business generated profits. All the profits ultimately come from the paychecks of the masses.

Even if a deflation sets in, Gold will go up because the deflation will prove or expose incompetence of  the central planers. Their media have been just about BEGGING (or falsely implying) for higher taxable, spendable, wages and its not happening, even with their so-called 4% unemployment.

They have been winning with words, that’s about it so far.

My take is that the bottom was late Dec 2015. This was corroborated by the higher low in late Dec 2016. However the failure to take out last years Int high of $1377 put $gold in a triangle, one that I think will eventually work in favor of a real $gold breakout.

However, now is now. I have been adamant that we still haven’t seen this $gold Int cycle low as yet. So, I have stayed in Jdst despite last Tuesday’s dramatics.  Scary, yea….But, I still feel that Jdst rather then Jnug is the probable bet. Time will tell..just my 2 cents.

Sure hope you’re right about it being just about over. It’s been a very long six years my friend.

PS

“Getting rid of the Fed”

Looking forward to it, maybe it’ll come in a few generations …

RE: “Zinke”

Cool! Maybe we’ll get some balance. I’m all for the environment but it needs to be balanced against humanity’s needs. How much land does the sage grouse need? How big are these mines footprints compared to the thousands of acres of “empty” land in Nevada? A few dollars in mitigation would boost those grouse numbers bigtime without shutting down all the exploration.

out for a bit

It’s the derivatives…and the perpetual short squeeze they sponsor. Just about done now though – by fall at outside.

Cheers

Barrick Gold buys Nevada mining project from former partner

is an old seal team guy, I’ve had the pleasure of talking to him a few times. Glad he’s a warrior for Trump now.

Last time we talked I told him to work on getting rid of the Fed. 🙂

Don’t give up! Look how it affected Roberto! 🙂

I think we’ll be looking good in 6 mos … but then I’ve thought that for a long time.

Trump goes after another of the Obama-era protection rules to favour miners

The Trump administration is going after another of the Obama-era environment protection rules by ordering a review of conservation plan for the greater sage grouse, in a move that would make more land available to oil, gas and mining companies.

Announcing the measure, Interior Secretary Ryan Zinke said that while the federal government has a responsibility under the Endangered Species Act to protect the ground-dwelling bird, it also has “a responsibility to be a good neighbour and a good partner,” AP reported.

He added that revisiting the 2015 conservation plan was necessary because some state agencies and other stakeholders have said their input was not properly considered during the original process.

cont. http://www.mining.com/trump-goes-another-obama-era-protection-rules-favour-miners/

Definitely not a good trend, I wonder if that’s why the SM and USD are soaring today?

I love ZH, I really do but they bring out one negative story after another and march out one bearish hedge fund guy every day yet the stock market keeps going up.

I give up.

Credit Card Defaults Surge Most Since Financial Crisis

In late April, after some disturbing monthly charge-off reports from major credit card vendors, we reported that according to the latest data from the S&P/Experian Bankcard Default Index, as of March 2017, the default rate on US credit cards had jumped to 3.31%, an increase of 13% from a year ago, and the highest default rate since June 2013.

http://www.zerohedge.com/news/2017-06-09/credit-card-defaults-surge-most-financial-crisis

https://youtu.be/tHtP2gQIoCE

I want some of what Rick is smokin’

He still thinks technical targets have meaning in the gold market. No way he can chart a $4 billion notional dump in a one minute time frame.

Rotsa Ruck Rick

All break out’s getting negated by scum.

Tesla meanwhile up 1 % o/n……so far.

GCQ17 – August Gold (Last:1281.00)

Posted Thursday, June 8, at 8:25 p.m. ET

Gold got sacked in the early going Thursday by the usual mysterious, evil forces, dropping $10 in mere minutes on the reported sale of 15,000 contracts. By day’s end, however, the Auggies had recouped enough ground to put a promising, bullish pattern in play (see inset). It has the potential to reach 1308.50 next week — and the sooner the better. More immediately, the push past the green line warrants a bullish trading bias, predicated on a minimum upside target of 1291.00 — the midpoint Hidden Pivot. An easy move through it would shorten the odds of a continuation to 1308.50 by generating a strong impulse leg on the intraday charts.

No overall majority, as per exit polls prediction.

Tories have to combine with hardline (good) Ulster protestant party, to try and govern.

May as leader is shot, she called vote, she controlled message and made vote all about her…ergo she must go…. as nearly lost to outright commie lunatic and his even worse commie mates.

She may try and hang on…but best is she resigns, Tories elect proper Tory Leader…new election in autumn and Tories win proper majority….danger Corbyn wins…but we ain’t that mad, but we sure didn’t want May either.

No doubt the result of a weaker pound.

The assault on $17.35 silver begins anew

Once again the pm sector goes from promising to disappointing

Oh Dear Lord….  the swamp slime himself…   I feel so unclean… BUT I’M HOLDING.

http://www.zerohedge.com/news/2017-06-08/jim-cramer-goes-batty-bitcoin-may-hit-1000000-act-now-its-too-late

Climbin’ mountains! Full steam ahead!
http://www.railpictures.net/photo/618648/