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The unethical fuckwits at Dow Jones Newswires/Wall Street Journal, stealing stories and giving no credit to scoop sources
...but since the world cottoned on to the fact that he knows fuck all, even his "Action Alerts" are greeted with a great big fat round of apathy. Take for example Louis Lobito Little Wolf's latest buy call to the "elite" Casey flock, dated July 31st (i.e. yesterday) on Kaminak (KAM.v)....
Not that you give a ... but they used to have a guy named Paul Van Eeden as their writer, and he was good at it. To my thinking anyway also fairly honest. Then they bought in the little wolf and in doing so basically gave the proverbial finger to their subscribers. It really underscored the "we don't really give a fuck about you guys" attitude and "it's about us because we known this is a Ponzi scheme disguised as an investment letter." Why Casey doesn't put someone of Van Eeden's caliber back in the roaming rock kicker seat is also a tell. Why should he? It's not about identifying an Aurelian Resources at $1.02 before the rest, is it? It's about front running. He doesn't care about quality of content, he cares about time of content. And is basically saying "Look, look how stupid you all are. But hey your special!". Sadly I think there are those with more money to lose than brains that need to be stroked and Casey knows and digs them up at every metals conference.
I'd personally like to send wishes on this fine day to Alberto Fujimori, ex-President of Peru, for the cherished memory of his forced sterlization program of indigenous Peruvian women. Have a great day, Chino!
IKN Predicts: It'll take about two days for the chattersphere to get to "Look folks, the NSA is doing a good job, let's not...(etc)"
And by the way, I'm with George Carlin on this issue:
Canada, listen carefully: If you have a person from your country that can do this...
Wow, look at that reaction!
...Barrick's (ABX) write downs since 2011*:
UPDATE: After hitting send, your humble scribe went over to Kitco to see how things were and...
...sure enough, the people incapable of looking forwards and obliged to scream as hard as they can are going for it with the Kinross headlines. "Massive", Defers" and "Multi-Billion" dontchaknowz. Hmmm...interesting.
Right here you have DB's overview from its analysis today and the chart it references:
OverviewToday marks the conclusion of the 2-day FOMC meeting. We find that the performance of gold in the days after a FOMC meeting has changed markedly over the past year. Figure 1 reveals that prior to the December 2012 meeting, gold prices tended to trade higher after a Fed meeting while in subsequent meetings the Fed has been unambiguously negative for the gold price. We believe this reflects the dramatic turn in US real interest rates, which have been moving higher since the end of last year. Consequently how US real interest rates and the US dollar perform after the FOMC meeting will determine the likely path for the gold price. Since we expect US yields and the greenback will continue to move higher over the medium term we would view gold price rallies as likely to be temporary.More promising are prospects for the PGM sector. Unlike gold, platinum and palladium have been able to attract modest investment inflows. Figure 2 examines the change in ETF holdings across the precious metals complex since the end of last year. What stands out is not just how PGM have continued to enjoyed strong investment inflows but how extreme the decline in the silver price has been and which has occurred despite little change in investment flows, at least from an ETF perspective. Positioning data from the CFTC reveals that silver has succumbed to a significant reduction in speculative length since the end of last year.Looking ahead, we expect PGMs will remain the most resilient part of the precious metals complex. The next highlight will be this week’s payrolls report since the US unemployment rate has been inversely correlated with US car sales. Hence a further improvement in labour market trends will tend to imply additional upside in palladium demand side fundamentals.
Colombia's finest with their new song, Uh La La and a video out today.
...here you go:
Why you want this cynical bastard's opinions on obviously failed ideas is beyond me.
"As in all crowds, there are a number of idiots who influence the price so much that they can temporarily overwhelm the fundamental case, until they either suddenly realize they have made a mistake or run out of money. If the crowd-sourced price is a mean of a population, that value can be exaggerated by a few idiots greatly overestimating (or perhaps underestimating) the real value of a stock or commodity."
From IKN221, out yesterday:
Being a slow news day like wot it be, your humble scribe decided to have a look at the numbers behind this part of the Dacha Strategic Metals (DSM.v) NR this morning:
"Subsequent to March 31, 2013 , Dacha sold 1,000 kilograms of Dysprosium Fe, 18,000 kilograms of Neodymium Oxide and 3,000 kgs of Terbium Oxide for aggregate proceeds of $2.9 million . Market conditions at the time of these sales were such that, in each case, these metals investments were sold for materially less than their estimated fair market value as at March 31, 2013 as reflected in Dacha's audited consolidated financial statements."
Oh wowsers, that's wonderful.