Category: Precious Metals

BOB MORIARTY Basic Investing in Resource Stocks or Why Palladium is about to Fall Off a Cliff

Post author By admin
Post date February 20, 2019

Bob Moriarty
Archives
Feb 20, 2019
Several of my so-called friends have been nagging me for years to write something about the basics of investing in resource stocks. I was quite comfortable with whining about how it was a work in progress and I was thinking about it and someday I intended to actually put pen to paper but they wouldn’t let up. So in the end, I caved and submitted to their browbeating and harassment though not gracefully.
(Click to Purchase Your Copy)

It took sixteen days to write and a month more to get the size of the book correct and have a nice cover done up. Well, no matter how much I winged and whined, I did manage to release it on the 14th and now you can buy it from Amazon.com here or Amazon.ca here or Amazon.com.au here.
I use the Daily Sentiment Indicator a lot to give me trading signals. When I downloaded the DSI for yesterday the 19th, it showed a value of 97 for palladium. Since that is a nosebleed reading it seemed to me that I could use palladium as a training tool. I used a chart of silver from 2011 showing the DSI readings and the top on the 25th of April in the book.

I have drawn a line in the chart for the DSI at 10 and at 90. Those are pure measures of how negative or positive investors are on a commodity. The lower the number, the more negative investors are betting. The higher the number, the more positive investors want to wager. You rarely get readings in the below 10 or above 90 areas for any commodities so they are important. But there is no ironclad formula for what reading would make a top or a bottom. You might have a top at 80 or a low at 20 but basically the more extreme the number, the more important the high or low.
Palladium first touched 96 on the 17th of January of this year. That’s a pretty extreme measure and often marks a major top. But if you look at the chart of silver for 2011, silver actually hit 96 around the 23rd of February. The actual high reading for silver was at 97 seven weeks later starting on April 15th and staying at 97 for five days. Meanwhile silver went from about $33 an ounce in February to about $42.50 in mid April before topping at $49.80 on the 25th of the month. So the DSI can in fact say a top is at hand and the commodity still move up 15-20% in the last dying gasp before plunging.
I can say with great confidence that palladium is going to plunge. We are showing a DSI that says a top is near. Of course it might be $200 higher when it goes over the cliff depending on how stupid investors want to get.
I get pretty negative in the book about the state of the world. In France tens of thousands of the Yellow Vests have held countrywide protests for the 15th week in a row with barely a mention from the lame stream media. In Madrid many thousands marched protesting the trial of separatists on the Catalan independence vote. In late December even Canada held protests over the carbon tax issue. I thought the only time Canadians protested was after a game lost by a popular ice hockey team.
In Haiti anti-government protests have turned violent with seven dead so far. Even in Belgium, home to the EU administration, protestors took to the streets to complain about climate change. In Israel protestors are objecting to police brutality.
What few understand is that all of these worldwide protests have something in common. Vast segments of all societies feel that their governments no longer represent their interests. While the 1% take a larger and larger share of the pie leaving less and less on the plate for the rest of us.
The basic theory in physics about entropy holds that over time, everything becomes more chaotic. Since the world left the gold standard, all governments have spent money they didn’t have and made commitments they can’t complete in order to get the mob to vote for them. Meanwhile the middle class is being destroyed as the 99% see their taxes increase just as their salaries decline. It will end poorly.
There will be things I write about in the book that you won’t want to hear. But you need to. Time is the enemy and all things get worse. A former assistant director of the FBI admits on national television that he and the Department of Justice participated in an attempted coup against the legally elected president of the United States. And the nation yawns.
It’s end of empire and it will get worse. Be prepared. Be very very prepared.
###
Bob Moriarty
President: 321gold
Archives
321gold Ltd

(VIDEO) RIVERSIDE RESOURCES Prospect Generator Plans to Expand Jurisdictions

Post author By admin
Post date February 19, 2019

Dr. John-Mark Staude of President and CEO of Riverside Resources (TSX: RRI | OTC: RVSDF) sits down with Maurice Jackson of Proven and Probable to discuss the company’s successes in 2018 and the projected catalyst’s for 2019. Dr. Staude will provide updates on a number of fronts, new exiting opportunities that look into significantly increase shareholder value.

VIDEO

AUDIO

TRANSCRIPT

Original Source: https://www.streetwisereports.com/article/2019/02/19/prospect-generator-plans-to-expand-jurisdictions.html

Source: Maurice Jackson for Streetwise Reports (2/19/19)

John-Mark Staude, president and CEO of Riverside Resources, talks with Maurice Jackson of Proven and Probable about successes in 2018 and the outlook for 2019.

Maurice Jackson: Joining us for a conversation is Dr. John-Mark Staude, the president and CEO of Riverside Resources Inc. (RRI:TSX.V; RVSDF:OTCQB), where knowledge is golden. Dr. Staude, welcome to the show, sir.
John-Mark Staude: Thank you, Maurice.
Maurice Jackson: We brought you on today to highlight some of Riverside Resources successes of last year and the company’s outlook for 2019. But before we begin, for first time listeners who is Riverside Resources?
John-Mark Staude: Riverside is a prospect generator. We’ve been working for 12 years, finding projects and finding partners through the prospect generator business. We’ve been able to expose ourselves to great upside while limiting the downside risk.
Maurice Jackson: You referenced that you are a prospect generator. There’s a lot of ambiguity regarding prospect/project generators, therefore speculators often overlook them in their portfolio. What type of competitive advantages does a shareholder have with a project generator over traditional exploration companies?
John-Mark Staude: I think the first thing is you’ve got a tight share structure, key that other people are spending the money. The second is you get a lot of shots, multiple different projects going simultaneously. Third is you don’t have the management teams that have to continually go back and refinance, so they can be focused on discovery for the shareholders. Those three things make prospect generators one of the better ways to invest in mineral exploration.
Maurice Jackson: Let’s revisit 2018 and share some of the successes of Riverside Resources that will serve as catalysts for 2019.
John-Mark Staude: I think the first thing was that we were able to leverage off of our previous work on copper, so that in 2019 we’ll be able to generate new big strategic alliances. I think the second thing was we signed a letter of intent with Sinaloa Resources, and now in 2019 we’ll have the definitive agreement and the go forward drill program. I think a third thing was the work that we did on Cecilia. High-grade gold mineralization, very good geology. Now in 2019 we can see drilling. So we have lots of catalysts in 2019. We’re really excited about this coming year.

Maurice Jackson: Speaking of 2019, let’s discuss the outlook for this year. What is new and what does Riverside Resources have planned this year?
John-Mark Staude: I believe one of the key things is a new strategic alliance. Getting a strategic partner will be awesome, and I think we have that in our sights. I think the second thing will be drilling. We have now got a definitive agreement progressing with Sinaloa Resources, and we’ll have additional new assets added into the portfolio. We’ll also diversify beyond Mexico. We’ve done well in Mexico, but we’ve also been successful previously in porphyry coppers in Canada and large gold systems in Arizona, and I think in 2019 we’ll again see us diversify beyond Mexico to capture great new opportunities.
Maurice Jackson: I want to expand further on the value preposition of Riverside Resources here. Germane to this discussion are the prices of gold, silver and copper. Twofold question. What are some of the catalysts you see that will change these prices, and what type of impact can we expect that this will have on Riverside Resources?
John-Mark Staude: One of the catalysts we see now is some of the uncertainty around trade and some of the uncertainty particularly in the gold price and with this gold price we actually see that has been rising up; that for us is excellent. We have gold assets in the ground, and gold potential to grow. So I think the gold will be a really key way to do this.
Maurice Jackson: Let’s be a little bit more specific for current and prospective shareholders. What type of competitive advantages does Riverside Resources have in the natural resource space included in this discussion with the prices moving?
John-Mark Staude: One of the competitive advantages we have is knowledge. We have knowledge, we have been able to find gold. We’ve been able to find copper. We’ve been successful. We’ve worked in this region and made discoveries that have then been built into mines. That’s a competitive advantage. The second is we’re all running. We’re in the position, we didn’t have to stop during the downturn times. We’ve been able to continually keep the same strong technical people. I know, Maurice, you’ve actually been out to site, other people come out to site. We can really demonstrate out on site the great development and ease to do the work. I think our turnkey ability has been shown by strategic alliances we’ve done in the past, and many projects we’ve been able to turn over. So in 2019, that creates great chance for catalyst rising gold prices, with potentially rising copper prices, with copper demand from electric cars, other copper usage. Riverside’s in an awesomely great position.
Maurice Jackson: Speaking of site visits, yes, I was there in April 2018 at the Cecilia, and I noticed there a lot of the intangibles that don’t show up on the balance sheet. Could you share some of those with us?
John-Mark Staude: I think one of the ones is relationships. When you come out to the site you can see how well we get along with the local people. I think the second is ease of access, you can see that we have the gate keys, we have the ease to get to the projects, paved roads into the area’s infrastructure. It’s so easy to look at a map, but in reality when you go out and see that you can drive on paved roads, when you have power lines, when you have water, when you have all of that stuff. I think the other intangible is our team. When you can see that we have the people in the back of our company that do the work for many other supporting groups, can really do a good work. Riverside has a sought-after team. I think those are in some of the intangibles that really make Riverside unique.
Maurice Jackson: Speaking of your team, a lot of them are seasoned in their tenure. Talk to us about how many years they’ve been with Riverside.
John-Mark Staude: Riverside’s been going 12 years and some of them been going with us ever since the beginning. Many of them have worked with me before Riverside. I used to work at Teck Resources, prior to that at BHP, and even prior to that back in the 1990s at Magma Copper, and some of these individuals that work with me today worked with me back then. We’ve been friends up to 30 years, and we’ve been able to be involved and we therefore we know we have trust, we know what we can count on, and we know we have the skills that deliver excellent projects, and the excellence to trust in what we’re doing.
Maurice Jackson: Speaking of Mexico, there’s a new president. What type of impact do you foresee the new administration having on Riverside Resources?
John-Mark Staude: It’s interesting, we were a bit concerned initially, back when the elections happened, hearing about socialist different movements and things, but really interesting, since December 1st when he’s been elected, it’s actually been pro capitalism, pro-development. There continue to be noises going back and forth about different issues, and they’ll have to get settled out. But we’re actually quite positive about the new president AMLO, and we’re also quite president about his words and efforts that he says towards helping develop favorability towards investments. So, we actually see that this new administration will be able to be a good push for the mining industry. We’re pretty pleased with what’s happening now.
Maurice Jackson: Switching gears slightly, to make the Riverside Resources project portfolio come to fruition, joint venture partners have to be willing to commit to projects. What is their current level of commitment that Riverside Resources is seeing right now?
John-Mark Staude: Right now, the first thing is the really big strategic alliance we have coming. Second is a drill program and funding with Sinaloa Resources. We’ll come up with the news release coming out quickly here as we finalize the definitive agreement, which we’ve not yet finalized, but we’ll get that done, and that’ll actually be a major program. We’ll also find that we have work on the copper, gold and silver assets, and we’re working on spinning out our transaction for one of our other properties. So, we actually see quite a few number of flows of capital coming in, and quite a few catalysts in 2019 due to the partner spending.
Maurice Jackson: You touched on it briefly, how does amalgamation fit into this narrative, and how realistic is the proposition of amalgamation?
John-Mark Staude: So at this point what we’re talking about is actually taking one of our assets into another company. We’ve been working on it now. Two aspects, one is the capital and the other is the other party, the ability and interest to be able to carry it forward. We’re working on that now, and I think it’s fairly realistic to do. It’s not something that we’ve put all of our eggs into, but it would be a great step for Riverside to give our shareholders another set of shares, another strategic way of increasing shareholder value. I think we have the right team on the other side. This will be a really exciting transaction going forward.
Maurice Jackson: John-Mark, what do you see as the biggest challenge for Riverside Resources, and how would you mitigate that situation?
John-Mark Staude: One of the big challenges is getting more partners in Mexico, and the way we’re mitigating it is by doing work again outside of Mexico, and by doing that we have our skills and we have Freeman Smith, our Vice President, Exploration, lives in Vancouver, knows the Canadian portfolios and Canadian assets, and we live in Vancouver, Canada, so it really fits for us to be able to diversify. That diversification really helps our shareholders as well. It helps us being in Mexico, and leveraging off of our knowledge in other places as well, using our skills. We’re in a great position for 2019.
Maurice Jackson: Let’s touch on the capital structure here briefly. John-Mark, Riverside has a proven record of being a good steward of capital. Remind us how many shares outstanding there are, enterprise value, and where does the company stand financially?
John-Mark Staude: Riverside has almost 45 million shares out, after going for 12 years. That’s remarkable. Financially, we have $1.5 million cash, and the market is actually very low right now. So myself, I’m buying more shares. We’re at a low in the market conditions right now, and I think there’s great upside right now. Our enterprise value is only $5 million. Our market cap is $7 million. We’re in a good situation to have a good leverage to the upside now.
Maurice Jackson: Last question. What did I forget to ask?
John-Mark Staude: Well, you always ask great questions. I think one of the other things is what do we actually see in the next news release? I think the next news release for us will be the signing of a deal. Signing of deals is great. Those are the momentum steps that we like. Also, the addition of a new asset. We’re excited by that. So I think we have two new things coming on, short term, that will really make a difference for Riverside.
Maurice Jackson: Dr. Staude, for someone listening that wants to get more information on Riverside Resources, please share the contact details.
John-Mark Staude: We’re at www.rivres.com, or give us a call at (778) 327-6671.
Maurice Jackson: As a reminder, Riverside Resources trades on the TSX, symbol RRI, and on the OTCQB, symbol RVSDF. As reminder, Riverside Resources is a sponsor of Proven and Probable, and we are proud shareholders of Riverside Resources for the virtues conveyed in today’s message. And last but not least, please visit our website, provenandprobable.com, where we deliver mining insights and bullion sales. You may reach us at contact@provenandprobable.com.
Dr. John-Mark Staude of Riverside Resources, thank you for joining us today on Proven and Probable.
Maurice Jackson is the founder of Proven and Probable, a site that aims to enrich its subscribers through education in precious metals and junior mining companies that will enrich the world.

Disclosure:
1) Maurice Jackson: I, or members of my immediate household or family, own shares of the following companies mentioned in this article: Riverside Resources. I personally am, or members of my immediate household or family are, paid by the following companies mentioned in this article: None. My company has a financial relationship with the following companies mentioned in this article: Riverside Resources is a sponsor of Proven and Probable. Proven and Probable disclosures are listed below.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click herefor important disclosures about sponsor fees.
3) Statements and opinions expressed are the opinions of the author and not of Streetwise Reports or its officers. The author is wholly responsible for the validity of the statements. The author was not paid by Streetwise Reports for this article. Streetwise Reports was not paid by the author to publish or syndicate this article. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy.
4) This article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article, until one week after the publication of the interview or article. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Riverside Resources, a company mentioned in this article.
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Base Metals Energy Junior Mining Precious Metals Project Generators

EMX ROYALTY Receives Norra Metals Shares for Four Polymetallic Projects in Norway and Sweden

Post author By admin
Post date February 19, 2019

Vancouver, British Columbia–(Newsfile Corp. – February 19, 2019) – EMX Royalty Corporation (TSXV: EMX) (NYSE American: EMX) (“EMX” or the “Company”) is pleased to announce it has received 4,808,770 common shares of Norra Metals Corp. (“Norra”) (TSXV: NORA), representing a 9.9% equity stake in Norra. EMX acquired the shares pursuant to the sale of the Bleikvassli, Sagvoll and Meråker polymetallic projects in Norway, and the Bastuträsk volcanogenic massive sulfide (“VMS”) project in Sweden (the “Projects”), as announced in the Company’s news release dated December 13, 2018.

EMX will retain a 3% net smelter return (“NSR”) royalty on the Projects, as well as other consideration to the Company’s benefit. EMX has also been granted a 1% NSR royalty on Norra’s Pyramid project in British Columbia. The TSX Venture Exchange has approved the details of the transaction and transfer of the Projects from EMX to Norra, subject to customary final filings.

Norra Metals Corp. (previously OK2 Minerals Corp.) is a Vancouver-based exploration company with two projects in British Columbia’s “Golden Triangle”, as well as the four Scandinavian Projects acquired by Norra from EMX. Norra’s management team has considerable experience working in Scandinavia from previous ventures, and EMX will work closely with Norra to ensure timely advancement of the Projects in Scandinavia. Norra and EMX are in the process of obtaining work plan permits for the Projects, and expect exploration work will commence in early spring.

About EMX. EMX leverages asset ownership and exploration insight into partnerships that advance our mineral properties, with EMX receiving pre-production payments and retaining royalty interests. EMX complements its royalty generation initiatives with royalty acquisitions and strategic investments.

-30-

For further information contact:
David M. Cole
President and Chief Executive Officer
Phone: (303) 979-6666
Email: Dave@EMXroyalty.com
Scott Close
Director of Investor Relations
Phone: (303) 973-8585
Email: SClose@EMXroyalty.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/42914

Precious Metals

CHRIS MARCUS Does Jeff Christian Stand By These GATA Comments?

Post author By admin
Post date February 19, 2019

Does Jeff Christian Stand By These GATA Comments?
Back in 2011 there was a rather fascinating debate about whether precious metals prices were being manipulated.
Now that a former J.P. Morgan trader has plead guilty to manipulating gold and silver prices, while Deutsche Bank and others have also been caught in the act, I wonder if Jeff Christian still believes the claims he asserted against GATA at the time.
Certainly a fascinating debate to watch even in hindsight for gold and silver investors….

Chris Marcus
Arcadia Economics
“Helping You Thrive While We Watch The Dollar Die”
www.ArcadiaEconomics.com

Precious Metals

MILES FRANKLIN Camping Out in Crazy Town

Post author By admin
Post date February 19, 2019

Miles Franklin sponsored this article by Gary Christenson. The opinions are his.

Thoughts:

Some economic and political policies have been crazy for so long they almost look sensible.

Long-term crazy does not mean policies can’t become sensible again.

Gold and silver will preserve wealth and stay valuable for the next 50 years. Not so for dollars, euros, etc.

If you are digging a dangerous hole in your finances, health, sanity, or economy, STOP digging.

Every 30—40 years the world goes crazy, takes a deep dive into a shallow rock-filled pond, does a multi-year dance with the Devil, and embraces delusional and nonsensical beliefs. We pay the price in death, debt, and shattered delusions.

1912—1918: WWI, creation of the Federal Reserve, global revolutions, governments failed, and income tax implemented.

1945—1951: Atomic bombs, the hydrogen bomb, India and Pakistan divide, and sunset on the British Empire.

1979—1985: Interest rates in high teens, recessions and bankruptcies, gold and silver bubbles, beginning of a huge bull market in stocks, and rise of the “financialized” economy.

2017—2023: Craziness returns. Governments will fall, currencies will weaken or collapse, socialism will rise, goofy economic and political polices will dominate, and devastating wars may begin.

SOCIAL ISSUES:

An increasing number of people approve of socialism. But many people are fleeing high-tax states that support expensive social programs. States can’t “print” dollars so someone—taxpayers—must pay for those programs. How long can an indebted state remain solvent when the high-income taxpayers are leaving and the “takers” are staying, while demanding more?

From (the brilliant) Thomas Sowell:

“Socialism in general has a record of failure so blatant that only an intellectual could ignore or evade it.”

More Craziness:

From Zerohedge: “Cambridge Economist Protests Brexit By Allowing Students to Sign Her Naked Body During Lecture.” Hmmmm…

From the Parisian Crazy Town:

“the French National Assembly this week passed an education reform bill which included a controversial amendment to replace all instances of the words ‘mother’ and ‘father’ on official school-related paperwork with the ‘gender neutral’ phrases ‘Parent 1’ and ‘Parent 2’.

Crazy Town exists globally.

The “powers-that-be” (PTB) blame Russia for U.S. problems. Why divert attention toward Russia? Are the PTB hiding things that require a distraction? Hint: Their illegal actions?

Blame toxic masculinity and white males. In years past we blamed Communists, foreigners, Jews, Irish, Germans, Japanese, and others. Are the PTB hiding things that require a distraction? Hint: Failing economic and political policies?

Debt: Borrow from the future to spend in the present because we did not act responsibly in the past. This is a triple failure … three strikes in Crazy Town and you’re out.

fail to act responsibly in the past
irresponsible spending in the present
massive future debt service restricts growth and tax revenues.

The piper must be paid! Governments have ignored this, to their detriment, for centuries.

Economic Craziness:

From David Stockton:

“The central banks of the world have taken their balance sheets from $2 trillion to $25 trillion in roughly two decades, and all of that is one giant fraud because to buy all those assets… they just made it up. It was fiat credit.”

80-Year-Old, 320 Sq. Foot New Hampshire Shack Listed for $2 million

The Federal Reserve mis-priced risk, and created fake prices in stocks, bonds and real estate. Look out below!

Negative interest rates. Call this what it is—confiscation by a bank. Would you give money to a bank knowing they will repay in a depreciating currency created from nothing by an insolvent central bank? Worse, they guarantee your repayment will be smaller than your initial deposit. If it sounds crazy that’s because it is. But trillions of euros “pay” negative interest. They are Camped out in Crazy Town.

Ever-increasing debt. The U.S. government is (officially) in debt $22 trillion. That debt will either default or be repaid with hyper-inflated currency. Pick your poison and watch paper assets dwindle in purchasing power. Think silver.

QE or Quantitative Easing or Bond Monetization or theft of purchasing power from savings and dollar denominated investments. QE was an emergency measure used to address central bank created problems in the 2008 financial crisis. Now QE appears to be a permanent sink-hole in Crazy Town.

From USA Gold:

“Ominously, San Francisco Federal Reserve president Mary Daly told reporters last week that the Fed is considering quantitative easing as a permanent option in the monetary toolkit…”

QE was ineffective, so we’ll escalate? Well, QE benefited the financial and political elite…

The citizens of the United States would not VOTE to diminish their purchasing power to support central bankers, the financial elite, and the political elite. The Central Banks follow the dictates of the elite and their governments (economic craziness), not the needs of the people.

MMT or Modern Monetary Theory will justify increased spending, huge deficits, and accelerating debt – to pay for social programs and the bureaucracy to implement those programs. What could go wrong?

From The Macro Tourist: MMT’ers believe…

“… the creation of more and more dollars is essential to the functioning of the economy.”

“… the government can always afford to buy anything for sale.”

“The government can always afford to get people jobs and pay wages.”

Full steam ahead on the Crazy Town Express Train to economic and political disaster…

From Ben Hunt:

“MMT is the sovereign-friendly justification for deficit spending without end.”

Pension insolvency. Pension funds, both public and private, are increasingly insolvent. Politicians voted to expand benefits, appease unions, buy elections and dump the obligations onto taxpayers and future politicians. The coming recession will spotlight the problems of insolvent and failing pension plans. Chicago and Illinois are already flailing about in Crazy Town.

The anguished cries for government to “do something” will be heard during the upcoming recession. Governments created those problems but will be unsuccessful correcting them.Some pensions will not be paid.

Unfunded liabilities. The U.S. has $100 – $200 trillion in unfunded liabilities. That money will come from where? Print, borrow, hyper-inflate or raise taxes? Sensible solutions will be unpopular. Think silver.

From Richard Russell:

“…ALL paper is ultimately valued against the only true, intrinsic money – gold. In world history, no irredeemable paper currency has ever survived.”

Even though fiat money never survives, the PTB use it anyway. Crazy Town policies persist until they hit the wall of reality.

Political:

The Socialist agenda is popular. Expect higher taxes, calls for a Universal Basic Income (UBI), jobs for everyone unless they don’t want to work, Medicare for all, free tuition, and more delusional programs.

AOC declares victory: Work = slavery?

“I thought it was a good thing that Amazon was coming to New York and wanted to give us money,” Ocasio-Cortez told the press. “But then I found out they were going to extort people and only give them the money if they worked for it. Forcing people to work if they want to get paid—how is that any different from slavery?”

From Martin Armstrong: “How to Destroy Civilization by Alexandria Ocasio-Cortez”:

“Alexandria Ocasio-Cortez push for higher taxes to fund her Green New-Deal is just the tip of the iceberg.”

Is this the iceberg that the US Titanic is approaching?

If government can’t pay its bills now, why add to the problem by implementing an expensive socialist agenda with higher taxes, excessive debt, and more government controls?

Camping out in Crazy Town makes no sense… but here we are. Ask yourself:

Can government create wealth and prosperity by taxing and spending? Maybe only for the top 0.1%?

Will more spending, increased benefits and larger government occur without negative consequences?

Will government and central bank actions, including MMT, QE, and a UBI devalue the dollar further?

Do you own several Senators on “speed dial?”

If the answers to these questions worry you, consider silver and gold “insurance policies” against loss of fiat currency purchasing power.

Silver is inexpensive. Buy it for peace of mind, purchasing power protection, and “insurance” against the inevitable devaluation of fiat currencies.

Miles Franklin sells “silver insurance” and can arrange storage in non-bank vaults. Call them at 1-800-822-8080.

Trying to escape from Crazy Town…

Gary Christenson, The Deviant Investor

Archived Newsletters

2/15 Ups and Downs Of The Economy

2/11 Debt and Devaluations-The Big Picture

2/6 From The Desk Of David Schectman

2/4 Cheerleading Self-destruction

2/1 If The Bank Of England Defaults On Venezuela’s Gold, Who’s Next?

Market Report 2/15/2019

Archived Newsletters

2/15 Ups and Downs Of The Economy

2/11 Debt and Devaluations-The Big Picture

2/6 From The Desk Of David Schectman

2/4 Cheerleading Self-destruction

2/1 If The Bank Of England Defaults On Venezuela’s Gold, Who’s Next?

Market Report 2/15/2019

About Miles Franklin

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Base Metals Junior Mining Precious Metals Project Generators

RIVERSIDE Signs Definitive Option Agreement and Receives Cash and Shares From Partner

Post author By admin
Post date February 19, 2019

VANCOUVER, British Columbia, Feb. 19, 2019 (GLOBE NEWSWIRE) — Riverside Resources Inc. (“Riverside” or the “Company”) (TSX-V: RRI) (RVSDF) (R99.F), is pleased to announce that partner Sinaloa Resources Inc. has entered into a Definitive Agreement (the “Agreement”) signed on January 30, 2019 that begins with an Initial Option to acquire a 70% interest in the La Silla Project (the “Project”). Sinaloa Resources has issued Riverside 1,000,000 common shares and now paid $60,000 total in cash. Riverside and Sinaloa Resources expect the commencement of a first phase $300,000 exploration program in the coming months, as per the Agreement (see Table 1 below).

Under the terms of the Agreement, the Initial Option to earn 70% is predicated upon the issuance by Sinaloa Resources of shares at a value of $1,000,000, $60,000 in cash payments and exploration work totaling $2,000,000 over 36 months (see Table 1 below).

Riverside’s President and CEO, John-Mark Staude, stated: “We are pleased to move forward with Sinaloa Resources in the La Silla precious metal district in Sinaloa, Mexico. The last exploration and drilling program at La Silla intersected high grades and we look forward to operating and collaborating with our partner to build on historical success in this district.”

Riverside has completed extensive generative prospecting work at the Project including rock-chip and grab samples up to 19.9 g/t Au and 200 g/t Ag. Riverside’s previous work programs focused on extending known areas of mineralization, such as the Ciruelo and El Roble veins (see press release June 19, 2018). Further property-wide exploration also successfully identified new showings, structures and historical abandoned workings as part of the Company’s generative work aimed at developing additional exploration target areas to increase the pipeline of new discovery targets at La Silla.

Sinaloa Resources is currently a privately held company and intends to pursue a listing transaction on either the TSX Venture Exchange (“TSXV”) or the Canadian Securities Exchange (“CSE”) within 12 months of execution of the Definitive Agreement. The Agreement also includes several provisions that protect Riverside in the event of early termination or a late listing transaction.

Table 1: Initial Option – Sinaloa Resources to acquire 70% interest in La Silla

Due Dates	Cash Payments	$ Value of Shares to be Issued	Exploration Expenditures
Upon Execution of the LOI	$25,000		Nil
Upon Execution of the Definitive Agreement	$35,000	$100,000
12 Months from the Date of the Definitive Agreement		$100,000	$300,000
24 Months from the Date of the Definitive Agreement		$100,000	$700,000
36 Months from the Date of the Definitive Agreement		$700,000	$1,000,000
Total:	$60,000	$1.000,000	$2,000,000
All amounts in Canadian dollars

Additional Agreement Details:
To earn an additional 30% (the “Additional Option”), Sinaloa Resources must incur a further $1,000,000 in exploration work and issue Riverside additional Sinaloa Resources shares at a value of $500,000. Riverside will retain a 3% NSR on the Project should Sinaloa Resources complete 100% earn-in, or Riverside’s interest dilutes to less than 10%.
Qualified Person & QA/QC:
The scientific and technical data contained in this news release pertaining to the La Silla Project was reviewed and approved by Freeman Smith, P.Geo, a non-independent qualified person to Riverside Resources, who is responsible for ensuring that the geologic information provided in this news release is accurate and who acts as a “qualified person” under National Instrument 43-101 Standards of Disclosure for Mineral Projects.

About Riverside Resources Inc.:
Riverside is an exploration company driven by value generation and discovery. The company has fewer than 45M shares issued and a strong portfolio of gold-silver and copper assets in North America. Riverside has extensive experience and knowledge operating in Mexico and leverages its large database to generate a portfolio of prospective mineral properties. In addition to Riverside’s own exploration spending, the Company also strives to diversify risk by securing joint-venture and spin-out partnerships to advance multiple assets simultaneously and create more chances for discovery. Riverside has additional properties available for option, with more information available on the Company’s website at www.rivres.com.

ON BEHALF OF RIVERSIDE RESOURCES INC.
“John-Mark Staude”
Dr. John-Mark Staude, President & CEO

For additional information contact:

John-Mark Staude
President, CEO
Riverside Resources Inc.
info@rivres.com
Phone: (778) 327-6671
Fax: (778) 327-6675
Web: www.rivres.com

Raffi Elmajian
Corporate Communications
Riverside Resources Inc.
relmajian@rivres.com
Phone: (778) 327-6671 ext. 312
TF: (877) RIV-RES1 ext. 312
Web: www.rivres.com

Certain statements in this press release may be considered forward-looking information. These statements can be identified by the use of forward looking terminology (e.g., “expect”,” estimates”, “intends”, “anticipates”, “believes”, “plans”). Such information involves known and unknown risks — including the availability of funds, the results of financing and exploration activities, the interpretation of exploration results and other geological data, or unanticipated costs and expenses and other risks identified by Riverside in its public securities filings that may cause actual events to differ materially from current expectations. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Junior Mining Precious Metals

RICK RULE | How Far Will The Next Upturn In Commodities Go?

Post author By admin
Post date February 15, 2019

Feb 13, 2019 04:54 pm
By Remy Blaire

NOIC 2018 Mining Share panel (left to right): Brien Lundin, Nick Hodge, Byron King, Lobo Tiggre (Click to watch).

Rick Rule hosted the timely Mining Share panel at the New Orleans Investment Conference alongside Brien Lundin, Editor of Gold Newsletter and CEO of the New Orleans Investment Conference. Joining Rick and Brien were Nick Hodge, Founder and President of The Outsider Club, Byron King, Editor at Agora Financial, and Lobo Tiggre, Founder and CEO of Louis James LLC.
The panel, which brought a wealth of opinions and convictions on the mining sector, was a favorite among attendees.
For his part, Rule balanced the discussion with his own successes and tough lessons, reminding the audience at one point that “bear markets are the authors of bull markets” — or, in other words, when it comes to commodity prices, what goes down must eventually go up. He challenged the panelists on the prospect of a mining sector resurgence. As you might expect, the contrarian investing experience on the panel provided for a lively discussion chock-full of information.
It may come as no surprise that uranium was among the expert panel’s top picks while copper and silver received honorable mentions
Among the topics examined were:

Risk versus reward: What kind of capitalization looks attractive in the current investing climate?
Commodity themes: Which commodity is a favorable opportunity and why?
Sector themes: What sector themes in mining are attractive?
Market upside: How far will the upturn in commodities go as a result of the down cycle?
Black swan events: How might a black swan impact the commodity thesis?

Click here to watch the discussion in its entirety.

Rick Rule (moderator).

The New Orleans Investment Conference is known as an annual gathering of minds in The Crescent City. It has become a legendary investment get-together over the course of four-and-a-half decades. The NOIC has amassed prominent keynote speakers made up of renowned economists, entrepreneurs, politicians and literary figures. The panel discussions feature a host of distinguished speakers who address crucial investing topics and answer the pressing questions of the private investors. The most recent Conference in New Orleans embraced the uncertainty in market sentiment with panel discussions on the economy, geopolitics and the “Booms, Busts and Bubbles.”
To watch the presentation from NOIC 2018, CLICK HERE.
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Precious Metals

ARCADIA ECONOMICS Silver Mint Sales Increase While Central Banks Continue To Buy Gold

Post author By admin
Post date February 13, 2019

Gold and silver prices are up on the year. And with good reason.
The Federal Reserve continues to indicate that rate hikes will be on pause. While also suggesting that they may stop unwinding their massive quantitative easing balance sheet. Meanwhile central banks around the globe continue to buy gold.
Toss in that a former J.P. Morgan trader plead guilty to manipulating the market and the Department of Justice has now opened an investigation, and you can only wonder how much longer the suppression scheme can continue.
So to find out more, click to watch the video now!

Chris Marcus
Arcadia Economics
“Helping You Thrive While We Watch The Dollar Die”
www.ArcadiaEconomics.com

Forward

Base Metals Exclusive Interviews Junior Mining Precious Metals

Is Montana Home to a Platreef-Style Deposit?

Post author By admin
Post date February 7, 2019

Michael Rowley of President and CEO of Group Ten Metals (TSX: PGE) sits down with Maurice Jackson of Proven and Probable to discuss the company’s latest press release regarding the High-Grade Palladium, Platinum, and Gold results from the Wild West and Boulder Target Areas, which are the beginning 2 out of 14 Target Area results. Shareholders will be extremely impressed with the company’s findings.

VIDEO

AUDIO

https://soundcloud.com/proven-and-probable/is-montana-home-to-a-platreef-style-deposit

TRANSCRIPT

Source: Maurice Jackson for Streetwise Reports (2/7/19)

Michael Rowley, president and CEO of Group Ten Metals, sits down with Maurice Jackson of Proven and Probable to discuss his company’s recent drill results at its Montana PGE project that is also showing significant gold mineralization.

Maurice Jackson: Joining Proven and Probable today is Michael Rowley, president and CEO of Group Ten Metals Inc. (PGE:TSX.V; PGEZF:OTC), which is known for platinum, palladium, nickel, copper and cobalt in the prolific Stillwater district of Montana. Mr. Rowley, welcome to the show.
Michael Rowley: Thank you, Maurice, glad to be back.
Maurice Jackson: Glad to have you back, sir. In 2018, Group Ten Metals began its first season on the ground and identified 14 target areas on its flagship project, Stillwater West. Today, we have the results from 2 of the 14 target areas, which are quite impressive. But before we begin, for someone new to the story, who is Group Ten Metals and what is the thesis you are attempting to prove?
Michael Rowley: At the very highest level, we are applying geologic models that were developed at the world’s biggest and most economic platinum, nickel and copper mines. These are the mines of the Northern Bushveld or Platreef District in South Africa. We’re applying those models to the Stillwater Complex in Montana, and this has not been done systematically before. The Bushveld and Stillwater Complexes are both large Igneous Complexes, they’re both magmatic systems, and there are many known parallels between the two. Despite those parallels, we are the first to bring together a large land position with a truly fantastic database and then bring in this Platreef expertise to enable a systematic exploration for these massive deposit types at Stillwater. In discussing that expertise, it’s worth noting that Ivanhoe’s Dr. David Broughton, who is one of the co-discoverers of its Platreef mine, which is now in development, joined our team late last year, which is a pretty good validation that we’re on the right track here in Stillwater.
Maurice Jackson: In our last interview, you shared the next unanswered question for Group Ten Metals would be assay results. On the 25th of January, Group Ten Metals issued a press release entitled “Group Ten reports high-grade palladium, platinum, and gold from the Wild West in Boulder target areas at the Stillwater West project, Montana.” Take us to the Wild West target area and provide us with some in-depth analysis on Group Ten Metals’ results there.

Michael Rowley: To begin, the press release issued on January 25, 2019, will be the first in a planned series and shareholders will see that the road map in the upper left corner of the image above. We’ve divided this 25-km-wide property into a series of target areas, and we’ll basically be releasing results west to east in the areas that you see. It’s the Chrome Mountain and Iron Mountain area that have the most drill results historically, that will be the subject of subsequent news releases here. In terms of the current news, it focused on the Boulder and Wild West, which are highlighted above, and the Wild West target area has the Platreef potential that we see property-wide is well-documented there historically. It also has the reef type, high-grade targets as shown in the red ellipses at the top of the claim block, and then it also has this high-grade gold occurrence, which is the Pine Shear zone, and that may be unexpected for some people, given that Stillwater camp is more generally known for palladium and platinum and nickel and copper, chrome. This is actually a significant area of gold mineralization and it’s got some spectacular hits.
In terms of the Platreef target, this conductive high that’s shown contains some very high level conductance in the rocks as evidenced by the purples and pinks. Historical drilling has shown that it does indeed contain copper and nickel, and that’s an excellent indication of a potential for this Platreef style mineralization. We also have some spectacular palladium hits, such as 10 gram per tonne palladium, very high grade, also with significant platinum that shows not only the level of mineralization in the system but also the potential for these high-grade reef-type deposits that, of course, the area is more known for. It’s worth noting that sitting just above the claim there is the 80 million ounce JM-Reef deposit, which averages a staggering 16 grams per tonne of palladium and platinum, so you know there’s a lot of metal in the system and this lower zone that we’re in continues that trend.
In addition to the high-grade samples summarized in this table, bottom left, we see some very good hits of palladium, platinum, and also some good indications of base metal mineralization, which again ties into that Platreef bulk mineable scenario. These are priorities for follow up in 2019 and we look forward to discussing that in further news releases.

The Pine Shear, which is noted above, has shown to contain gold. These 2004 hits were actually drilled by our current qualified person; they’re not considered historical, and confirm the presence of significant copper and nickel in that system although the conductive highs have not been tested and that’s one of our key items for follow up. These PC series of holes from 1983 show the potential of this Pine Shear zone, which is a later geologic event within the Stillwater layered system. Something has introduced a lot of gold to the system as shown by these fantastic lengths and mineralization, gold mineralization. We see, for example, 11 meters at 12 grams per tonne gold, which is a very high-grade hit and good length within that 8 meters at 16 grams per tonne, and then the hole PC5, 3 meters at a staggering 23 grams per tonne, that’s 2/3 of an ounce, so it’s very high-grade and nice lengths of it. That’s definitely something for follow up in 2019.

In addition, we’ve got grab samples in that area, rock chip samples, and we see not only high-grade gold mineralization as shown in this first sample here, 22 grams per tonne gold, but in addition, we see some high-grade palladium, 10 grams per tonne gold and almost 4 platinum as well. So you’re seeing mineralization throughout this area. Not only the PGE-nickel-copper that you might expect from the district, but also high-grade gold, and that’s very compelling for follow-up in 2019.
Maurice Jackson: Michael, these numbers are quite impressive. But let me ask you this, you’re in the most prolific area with the highest grades, concentration grades of platinum and palladium. You strategically have your assets positioned there, so were you really surprised?
Michael Rowley: No, and we, of course, had seen this data as we got into the project in the early days, it’s nice to prove it up in the compellation effort and make it more formal and we can then discuss it publicly, but the Stillwater district is very well mineralized and you’re right, that is very well known. What’s pleasing now is to be able to reveal the results of the compellation effort and plan our programs for 2019 so we begin to reveal what we think we’ve got.
Maurice Jackson: Well, the results are remarkable. We discussed the Wild West. Let’s move to the Boulder target area. What has Group Ten Metals excited here?
Michael Rowley: The Boulder area has less data than Wild West and then less data still than the Chrome Mountain and Iron Mountain target areas, however, it does have that lovely conductive high as shown in Figure 1. And, once again, the conductive highs have not been systematically tested. We do have the data from a historical drill hole, that’s BR2, shown more or less the middle of the Boulder target area. And that shows nice intercepts of copper-nickel mineralization. We have no PGE data on that, and that’s something that we’d like to remedy. In addition, we’ve got a very nice base metal hit up here including a very nice cobalt of 0.117, which speaks to the technology and battery metal potential of the system. The Bushveld is less known for cobalt, but we’re seeing very nice levels of cobalt here in the Stillwater Complex, which adds a nice co-product to a new potential operation here.
So in terms of 2019, Boulder won’t be a focus as we’ll discuss later, we’re going to have to focus on the more advanced target areas, however, we definitely will go back there and we’ll continue to move it along in our 2019 Program.
Maurice Jackson: Switching gears, we introduced the value proposition of Group Ten Metals on the 2nd of November. Since then, the company has successfully conducted a financing and the share price is up 29%. Please provide us with the company’s current capital structure.

Michael Rowley: We have 59 million shares outstanding at present and a market cap of about $12 million and that follows a raise of $1.2 million back in November, which we did at 15 cents in rather challenging market conditions, which speaks to the strength of this project in particular to attract investments, even in a rather challenging market.
Maurice Jackson: Sir, what is the next unanswered question for Group Ten Metals, when should we expect results and what determines success?
Michael Rowley: Well, I guess the unanswered question is, how is this possible, is there actually Stillwater in Montana? These districts have a lot of parallels and Stillwater is well known for these three very high-grade palladium-platinum mines. We’re looking forward to revealing why we think it’s there and how it’s been overlooked historically. This district has not been systematically explored for these target types and we’re the first to bring together the land position with the data with a team to do just that, and we’ll be launching a series of news releases to reveal what the past year of compellation work has shown us and what we, including David Boughton, see in the project and the potential.
Again, we’ll move from west to east across the project and the next news releases will detail the Chrome Mountain and Iron Mountain target areas, which include the most of the historical data including the 200 drill holes, and, of course, we have almost 12,000 meters of that core in our possession and have re-logged it now, so there’s some very exciting revelations to be revealed in the coming news releases.
Maurice Jackson: Mr. Rowley, what do you see as the biggest challenge for Group Ten Metals and how do you plan to mitigate that situation?
Michael Rowley: The biggest challenge facing us may just be the size of the project. It’s fantastic in the scale as you’ve seen from our figures, we may have as many as eight Platreef deposits across that, based on the coincidence geophysical anomalies, soil anomalies, and then just the geology and historical drill results. Thankfully, and the way to address that, is the quantity of data, the compilation effort that we’ve done, helps us focus our exploration efforts so prioritizing targets is very much the plan, we’ve done that and we look forward to revealing our 2019 plans. We’re going to focus basically on the Chrome Mountain and Iron Mountain areas where we have the greatest density of historical drilling and go out from there. And I think it will be a very exciting year for us as we reveal what we have and build it out with a 2019 exploration program. We had a terrific reception at the Core Shack at Roundup, we definitely attracted the attention of majors, and that’s the way forward that we see, if we do a couple of rounds here ourselves, and prove up what we think we have, and then look to engage bigger partners down the road as that becomes appropriate.
Maurice Jackson: Sir, we’ve covered the good. What keeps you up at night that we don’t know about?
Michael Rowley: The last time we talked, it was the share price and that has gotten a lot better as you mentioned, thanks to our campaign of news releases and I think also the Core Shack at Roundup did a lot for us. The good news in terms of share prices that we’ve only just begun to reveal what we have on the project, and we have a series of planned news releases and a major promotional push beginning here which will carry us right up through PDAC in March. We’ve had a number of very excellent meetings as well recently, and we’re excited to begin to reveal what we think we’re onto and what 2019 will hold for the company. I think it’ll be a pivotal year.
Maurice Jackson: Michael, today we’ve covered the value proposition of Group Ten Metals but Group Ten Metals is actually one of three companies comprising the Metallic Group of Companies. Please introduce them to us and share their value propositions with us.

Michael Rowley: The Metallic Group is a collaboration of three independent public exploration companies, growth-stage companies. We’ve essentially launched one company each year, Metallic Minerals in 2016, Group Ten in 2017, and then most recently Granite Creek Copper just a few weeks ago. Each one has been put together with the same method that you see at Group Ten, which is to acquire high-quality brownfields assets in a known mining district beside an existing mine, and then make that acquisition strategically in a depressed market at a price that would not otherwise be possible in a more normal market. And then add a substantial database to that and a world-class technical team, a world-class corporate team as well, and bring in geologic models from outside that district. Shareholders have seen us do that at Group Ten, we’re applying this Platreef thinking for the Bushveld, South Africa, to the Stillwater District.
Metallic Minerals, ticker is MMG, is applying geologic models from the multi-billion ounce Coeur d’Alene silver district in Idaho to the Yukon’s Keno High-Grade Silver district. And the parallels are there, there are very good indications of success in that one.
And then similarly at Granite Creek Copper, GCX is the ticker. We’re applying geologic models that are new in the district, this is a billion pound copper district in the Yukon. Models that were developed in the neighboring Minto mine, we’re applying to the Stu high-grade copper project, and that one is shaping up very nicely as well. It’s only been trading for about 10 days at this point and there’s a lot to be released on that one in the coming months.
In all three cases, we expect to add value by de-risking the projects and fast-tracking them to resource to delineation stage.
Maurice Jackson: Michael, for someone listening that wants to get more information on Group Ten Metals, please share the website address with us.
Michael Rowley: The website is http://www.grouptenmetals.com.
Maurice Jackson: And as a reminder, Group Ten Metals trades on the TXS.V:PGE, and on the OTCQB:PGEZF; for direct inquiries please contact Chris Ackerman at 604-357-4790 extension 1, or email info@grouptenmetals.com, as reminder Group Ten Metals is a sponsor of Proven and Probable, and we are proud shareholders for the virtues conveyed into today’s interview.
Last but not least, please visit our website www.provenandprobable.com where we interview the most respected names in the natural resource space. You may reach us at contact@provenandprobable.com.
Michael Rowley of Group Ten Metals, thank you for joining us today on Proven and Probable.
Maurice Jackson is the founder of Proven and Probable, a site that aims to enrich its subscribers through education in precious metals and junior mining companies that will enrich the world.

Disclosure:
1) Maurice Jackson: I, or members of my immediate household or family, own shares of the following companies mentioned in this article: Group Ten Metals and Metallic Minerals. I personally am, or members of my immediate household or family are, paid by the following companies mentioned in this article: None. My company has a financial relationship with the following companies mentioned in this article: Group Ten Metals and Metallic Minerals are sponsors of Proven and Probable. Proven and Probable disclosures are listed below.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click herefor important disclosures about sponsor fees.
3) Statements and opinions expressed are the opinions of the author and not of Streetwise Reports or its officers. The author is wholly responsible for the validity of the statements. The author was not paid by Streetwise Reports for this article. Streetwise Reports was not paid by the author to publish or syndicate this article. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy.
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Precious Metals

MILES FRANKLIN If The Bank of England Defaults On Venezuela’s Gold, Who’s Next?

Post author By admin
Post date February 1, 2019

If The Bank of England Defaults On Venezuela’s Gold, Who’s Next?

Written by Chris Marcus of Miles Franklin

Recently there’s been growing attention surrounding Venezuela’s attempts to repatriate its gold from the Bank of England. To which so far the Bank of England has refused to return.

Which creates some interesting dynamics that anybody invested in gold, or any of the financial markets, would be well-served to be aware of.

Primarily in that if the Bank of England is refusing to return Venezuela’s gold, reportedly because of sanctions that the U.S. has placed on Venezuela, how safe would you feel if you were another country that had less-than-ideal relations with the United States and had its gold stored at the Bank of England as well?

If Venezuela Can't Get It's Gold Back - Who's Next?

According to Bloomberg:

“The Bank of England’s decision to deny Maduro officials’ withdrawal request comes after top U.S. officials, including Secretary of State Michael Pompeo and National Security Adviser John Bolton, lobbied their U.K. counterparts to help cut off the regime from its overseas assets, according to one of the people, who asked not to be identified.”

The article also goes on to mention that “U.S. officials are trying to steer Venezuela’s overseas assets to Guaido to help bolster his chances of effectively taking control of the government.”

While the Wall Street Journal is reporting how “the Trump administration’s attempt to force out the president of Venezuela marked the opening of a new strategy to exert greater U.S. influence over Latin America, according to administration officials.”

Keep in mind that in today’s world, it’s often a challenge to discern reporting fact from fiction. Yet certainly given the U.S. government’s history of regime change, there are legitimate questions raised by the current available details of the situation.

If the U.S. government is now essentially intervening in a transaction that’s between the bank of England and Venezuela, what other international transactions might U.S. sanctions attempt to intervene with in the future?

Certainly an expert on the political dynamics of the Venezuelan government I am not. And my guess is that Venezuelan president Nicolás Maduro is probably as likely to be involved in the same sort of government shenanigans that have become commonplace in many governments around the globe.

But aside from the idea that the United States could conceivably be getting gearing up for new areas of foreign intervention, while at the same time it just ran a $1 trillion deficit for the second year in a row, the entire situation creates a risky dynamic in the international trade and precious metals markets.

Economist and co-founder of Democracy at Work, Professor Richard Wolff mentions how:

The freezing of Venezuelan gold by the Bank of England is a signal to every country that has or may have difficulties with the US, [that they had] better get their money out of England and out of London because it’s not the safe place as it once was,” he said.

“One of the few things left for Britain is to be the financial center that London has been for so long. And one of the ways you stay a financial center is if you don’t play games with other people’s money,” he said.

“You can be sure that every government in the world is going to rethink putting any money in London, as they used to do, when they are watching this political manipulation with the money that they entrusted to the British. It is very dangerous for the world but for Britain particularly,” said Wolff.

He explained: “What the British are showing is that they can’t continue apparently to be the neutral place where you can safely put your money.”

Especially in the context where other foreign nations like Russia have continued to express their displeasure with U.S. sanctions and dollar devaluation. Which made it interesting to hear that:

“Russia vowed to “do everything” to protect Maduro against U.S. efforts to oust him as the Trump administration issued new sanctions against Venezuela on Monday, without elaborating what steps it would take.”

All of which is rather unfortunate. Because underneath all of the political sanctions and actions, is a country whose people appear to really be struggling with the collapse of the local currency.

“Losing the gold would be a significant blow to the country’s finances, undermining its ability to obtain hard currency crucial to importing items ranging from food and medicine to auto parts and consumer electronics.

Venezuela is struggling under hyperinflation now approaching 2 million percent annually. A broad economic collapse has fueled an exodus of some three million people since 2015.”

And now when Venezuela could most use the protection of its gold, the Bank of England has reportedly turned the cold shoulder and won’t even communicate with its client who entrusted it to ensure safe keeping of its savings.

“But those talks were unsuccessful, and communications between the two sides have broken down since. Central bank officials in Caracas have been ordered to no longer try contacting the Bank of England. These central bankers have been told that Bank of England staffers will not respond to them, citing compliance reasons, said a Venezuelan official, who asked not to be identified.”

Interestingly, a separate Bloomberg article reports that the UK government is not getting involved, and is leaving the decision up to the Bank of England.

“This is a decision for the Bank of England, not for government,” Foreign Office Minister Alan Duncan told Parliament Monday during an urgent question on Venezuela. “It is they who have to make a decision on this, but no doubt they will take into account when they do so, that a large number of countries across the world are now questioning the legitimacy of Nicolas Maduro.”

While I suppose it’s possible that this would lead some to question the legitimacy of Nicolas Maduro, as an investor and financial market analyst, it leads me to question the legitimacy of holding gold at the Bank of England.

Simply because it creates a dangerous precedent. Wherein any nation that does something that the U.S. government doesn’t approve of faces the possibility of losing its gold.

Rumors have circulated for years that the gold supply is tight, as metal has shifted from west to east. And that when any large international transactions are done, it’s often a scramble to source the physical metal.

Whether there is something deeper going on with the supply of gold that is leading the Bank of England to refuse the repatriation will only be known in time. If that does turn out to be the case, then we could be looking at a situation where the gold shorts will really be pressured.

Yet even if that’s not the case, just the precedent of this situation alone creates a new dynamic to further pressure the market. Because at least if I was a central banker of another nation with my gold stored at the bank of England, I would certainly be wanting it back ASAP.

It will be interesting to see how this situation unfolds. If you have any questions about this article or what’s going on in the gold market, as always you’re welcome to email me here.

The dynamics are stunning, and all continue to indicate a future with a substantially higher gold price. It will be fascinating to see how the path between now and that outcome unwinds, but this news comes as the latest data point that the existing structure of the gold market is on shakier ground than ever.

Chris Marcus

-If you have any questions about this article, what’s happening with the Fed, or the precious metals market, you’re welcome to email me here.

-To buy or sell gold and silver call Miles Franklin today at (1-800-822-8080).

-Or get Miles Franklin’s detailed report on why the price of silver is set to explode.