"2018 will mark an important cyclical top for US and global equities, led by a deterioration in credit"
Notes From Underground: Is April The Cruelest Month?
......My thesis going into May is that the SPOOS are struggling in spite of enhanced earnings as short-term interest rates in the U.S. are perceived to be a drag on future earnings and possibly economic growth. In a bow to the cost of money, the DOLLAR had a positive month, gaining almost 2%, as short positions have become more expensive to fund. Gold, in dollar terms, is unchanged on the month in defiance of conventional wisdom as higher short-term rates have not yet brought a liquidation of the precious metals.
The continued efforts by the ECB, BOJ and Swiss National Bank to keep their overnight rates at crisis-era levels is increasing concerns around the globe that central bankers in general do not have an exit strategy. ECB President Mario Draghi’s press conference on Thursday was a piece of obfuscation worthy of a teenager being interrogated by its parents. The EURO currency succumbed to the unequivocal dovish stance of President Draghi as he maintained that risk in Europe remains elevated. When a Handelsblatt reporter kept asking why the ECB had no road map out of the emergency measures that it implemented, Draghi answered that the ECB did not even discuss monetary policy at the meeting. WHAT? President Draghi made certain to present headwinds pertinent to the ECB: Fear of rising tariffs; the inability of European governments to devise a plan for unified risk sharing; and, of course, the continued failure of the EU to embark on a plan for fiscal stimulus. As Draghi stressed when discussing the rise in U.S. yields: “Increase in yields in the U.S. to be expected because of differences in business cycles and the fiscal expansion recently enacted. Plus, U.S. at 4% unemployment.” Mario the Magician should be reminded that the ECB does not have an employment mandate, as its only “concern” is inflation. The problem is with no harmonized fiscal program why should a unitary inflation number be the key data point? Germany, the EU’s largest economy, is running inflation above 2%, which is crushing the German savers. But as Draghi insisted, monetary policy will require a steady hand to ensure PRUDENCE, PATIENCE and PERSISTENCE..... https://yragharris.com/2018/04/29/cruelapril/
TF METALS: A Timely Discussion with Keith Neumeyer
As you likely know, Keith Neumeyer is an industry leader as founder of both First Majestic Silver and First Mining Gold Corp. Thus, whenever we get the chance to speak with Keith, we jump at the opportunity as the insights he provides on gold and silver are always helpful and interesting. This discussion primarily focuses upon two areas:
- The Comex silver market, the digital derivative price and the physical supply picture. Keith discusses the extreme levels of the gold:silver ratio as well as the earnings capabilities of silver miners, both primary and secondary. This leads to a discussion of First Majestic and their structure for success in the future.
- Exciting changes for the future at First Mining Gold Corp (formerly First Mining Finance). Keith explains why the name change is emblematic of the future path of the company and he provides details on some of the exciting mining prospects within the First Mining portfolio. More specific and detailed information can be found through this link: https://www.wealthresearchgroup.com/gold2000/
Thanks again to Keith for taking the time to bring us all up-to-speed with these updates. Please be sure to give this podcast a thorough listen and, as always, do plenty of your own due diligence before making any investment decisions.... https://www.tfmetalsreport.com/podcast/8972/timely-discussion-keith-neumeyer
Operation Barbarossa II Update: The Battle Will be Everywhere
The G7 foreign and interior ministers who met in Toronto last weekend as French President Macron, in Washington, tried to make himself important by cosying up to President Trump and Trump’s threat to tear up the Iran nuclear agreement, wound up their event by adding fuel to the fire intended to roast Russia. One statement after another was issued by the foreign ministers blaming Russia for “aggression” in Ukraine and “malign behaviour” while the foreign minister of the NATO installed Kiev regime, Pavlo Klimkin, invited to stoke the fire stated, on cue from his bosses, that ‘Fighting along with Ukraine would give an immense asset to the whole democratic community in the sense of understanding Russian efforts to destabilise the western world.” That Klimkin represents a regime that came to power by overthrowing a democratically elected government in a coup arranged and carried out with the assistance of NATO forces in order to destabilise Russia and to resurrect the Nazi menace to the world was not mentioned. Nor was it mentioned that Nazi elements of the Kiev regime have arrested and murdered communists, gypsies, and pro-Russian citizens. Nor was it mentioned that they have besieged the peoples of the Donbass republics for four years murdering thousands who refuse to recognise a government which is the puppet of foreign powers and hostile to them. Democratic is not a word that can be used to describe the junta destroying the Ukraine. https://journal-neo.org/2018/04/27/operation-barbarossa-ii-update-the-battle-will-be-everywhere/
THE US GAVE ITS CLIENT STATES HUNDREDS OF MILLIONS FOR ANTI-TERRORISM, THEN CROOKED UK MILITARY CONTRACTORS RIPPED IT ALL OFF
Defense Secretary James Mattis has announced a criminal investigation into the misuse of $458,000,000 that the US government gave to Iraq and Afghanistan to build out mass-scale domestic surveillance apparatus and other "anti-terrorism" capabilities. An audit by the Special Inspector General for Afghanistan Reconstruction found that, since 2007, New Century Consulting had taken most of that money, without any indication that it had performed any of the work for which it had been paid.