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Gold street is where South Africa’s mining history goes to die

That’s where Paseka Selemela has been guarding cars since 2010, when the scaffolding business he worked for closed. Prior to that, he was an assistant at a now-shuttered mine owned by AngloGold Ashanti Ltd. Nor has he found work in other gold mines around the town, home to the world’s deepest shafts. Many of his friends and family members also have joined the legions of the retrenched, including 8,500 people in the area last year alone.

“These people can’t find jobs, just like me,” Selemela, 34, said under the winter sun, wearing a torn, dirty Chelsea soccer club shirt and jeans that hung loosely on his thin frame. “They try at the retailers, but there is nothing available there. They are employing fewer people because people are buying less. There’s no money.”

Additional cuts are to come across mines and towns in South Africa, once the world’s biggest producer of gold. A volatile currency, uncertainty about regulations and demand, labor union tensions, harder-to-access ore, high operating costs and falling prices mean about half of gold and platinum operations are loss-making.

More than 6 million people are unemployed and looking for work, taking the jobless rate to about 28 percent, a 15-year high. This excludes 2.5 million discouraged job seekers.

more http://www.mining.com/web/gold-street-south-africas-mining-history-goes-die/

I am an ex commodity guy, so not too aufait with the technicals on stox….if it’s going up then there are too many buyers, same going down etc.

Except now we have rigged mkts, where one side can do what it likes has unlimited volume and never has to settle…in fact I would say we have no mkts, just prices that the scum want us to see.

Yep and they have level 1 trading platforms that work at lightening speed and a lot of money that can get in and out first. They could deplete these ETFs quickly, like nugt who then can do what? Reverse split because they too need money no different than the penny stocks doing the same but for different reasons.
IMO think it could be part of the manipulation at times when they park money want it to rise like when the equity stocks that were along with the long PM ETFs were R splitting driving people to the long equity ETFs and short gold after the rise, while equities longs who were forward splitting back when because after the 08 carnage no where to park except stocks so they did. Did you see that?

It’s hard to say what banks are doing because they have much more inside information on what other banks worldwide are doing, where money is parking or going to park.
The question is if these ETFs track different stocks does they’re buying, selling affect these stocks either way. So are these bankers controlling any moves on the general PM market compared to a few moving on fundamentals? To a point anyways esp if it’s being sold because they need money or when they expect the dollar to rise per say.
I’m guessing they could also my producers if they are giving dividends but more likely to buy ETFs where they are less likely tracked. I doubt they buy penny stocks or any non dividend stocks and if they do buy a producer with no division they wouldn’t stay in long I’m guessing. So they probably go up in sympathy by the private sector as the others in a rise get more expensive.

My take is that ETF’s are purely to divert buyers away from real Gold. They were created to enable funds that were banned from Commodity trading, so could not buy Crimex, only shares or physical, which they have hugely succeeded in.

As for manipulation the scum don’t bother to be smart and hide it in complex option structures, they just outright sell or buy, no-one talks about it, or investigates it, or if they do no-one gives them the time of day.

By the way it looks like the overnight SM mkt has a 1 % downside limit, from the scum…watch how often it bounces off 1 % down…

I wonder what currency they would use to start with. If Russian Rubles, gold is 91% higher than 5 years ago. I assume they have to convert rubles  first. All commodities are priced in dollars. So they need 63.6 Rubles to buy a dollar, then pay $1,272 for the ounce. So they need 80,900 Rubles to buy an ounce.

Average Russian wage according to official statistics is 26628 rubles per month in 2013. Please note that these wage is distributed very unequally among different groups of people, among different regions. About 1/3 ounces per month?

Average Americans earn about $4000/month or 3.14 ounces per month.

I did this fast, maybe somebody else should check it. Bottom line gold looks too expensive for foreigners to buy, until THEIR currencies go up and ours goes down.

The ETFs can be bankers who can sell it if they need money. They can be more illusive than say buying individual stocks. Imho people should do what they feel is best for them but keep that in mind. They won’t buy physical so much but can by something like GLD.

Good news but as you say not out of the woods. So many surgeries. Pray she keeps up her strenght. Keep a eye on her labs. When she goes to rehab keep a close eye on her and make sure any bandages stay covered and changed everyday till so open areas for bugs. There’s superbugs all over coming in since it’s everywhere now. Diet nutrition including protein zinc vita C for wound healing after. If your healthy it won’t bother you but if your compromised as in illness or wounds it can.

Yes, imho, you are once again very spot on. Feel free to buy and sell (legally) whatever you so choose. Don’t let anyone try to pull a guilt… shame doubt upon you. We can not compete with  waves of fiat manipulating the market. I believe that we can see the technical results of the manipulators past actions and so try to make sense of the present reality.

And they think the USA is still the fat cat on the planet, and are keeping “their” US Dollar high as a subsidy for survival and prosperity of their other shit hole countries. Check out my 22:55 on June 19.

What if I buy an option on a DOW stock? What if I buy any of the Buffet stocks? What if I buy a new car? How about a vacation home? In Hook’s view that is all money that could and should be spent buying PM coins and/or mining stocks. However, anyone that desires bullion can buy it at will right now…providing that they have the funds to do so. Hook obviously believes that PM’s would be much higher in price today if all goldbugs eschewed everything but the real McCoy. Gold is traded world wide and if you truly want physical there is little to stop you from so doing. But, gold is trading for much less in price then we thought and still think it should be at. How to explain that? Well, let’s get a convenient crutch and blame it on option and etf traders. We can’t figure out any other reasons.

https://www.zerohedge.com/news/2018-06-20/trump-preapring-executive-order-allowing-immigrant-children-stay-parents

Buy bullion and quality (least debt and good property) shares. Deprive the asshole bankers of their nemesis.

If you must buy paper/digital proxies, at least buy something like the Sprott physical trusts that actually hold the gold (and silver). This other crap is fraud, like the World Gold Council’s new mini-GLD.

These carpetbaggers are the bankers best buddies and are in the business of  creating paper/digital alternatives to the real McCoy. Now that they’ve helped impoverish the gold community, they need a smaller unit because it’s all the DF’s who buy this crap can afford.

Cheers

Gartman Turns Bearish: “A Bear Market Has Almost Begun”

https://www.zerohedge.com/news/2018-06-20/gartman-turns-bearish-bear-market-has-almost-begun

Do you have any recommendations for us?

Looking at yesterday’s posts you can seen how many friends you have here. I think it’s just about everyone. Count me too.

Canada is on track to become the first G-7 nation to legalize marijuana, and the second country in the world (after Uruguay), after its Senate approved legislation in a 52-29 vote, paving the way for recreational cannabis to be legally bought and sold within the next few months.

The vote clears the way for the government in Ottawa to take the final step: The ceremonial approval of by the governor-general that would make Bill C-45 law. Still, not all of the details have been ironed out. For example, the date for when the law would take effect remains unclear. And lawmakers have said it will take a few months for producers and retail stores to stock up and get ready for legal sales to begin, according to Bloomberg.

cont. https://www.zerohedge.com/news/2018-06-20/canada-becomes-2nd-country-legalize-weed

You’re a strange bird. I’m never quite sure whose team you’re really cheering for. So most likely you just need to get stuffed a few more times because you are too confident

Very glad to hear that things went well so far. Fingers crossed. Our prayers are for a speedy recovery.

God Bless

Thank you for the well wishes.

Surgery went pretty well yesterday, 3rd surgery tomorrow and if goes well she’ll be taken off the ventilator and hopefully be out of the ICU on Sunday. Since she is septic the real battle is the infection but they seem to be stabilizing that.

At least 30 days in a rehab facility and two more surgeries in the coming months, A lot of major life changes ahead.

PM’s are down a few bucks…time to buy no?

Come on…back up the truck…load the boat…to da moon…those GLD, SLV, and GDX calls are terrific.

You can get rich…no really.

Chuckle

Thank you.

Courtesy USGS.