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Freeport-McMoRan Inc. Message Board

goldmanpillageandsack 17 posts  |  Last Activity: Jul 27, 2015 4:40 PM Member since: Apr 27, 2010
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  • goldmanpillageandsack by goldmanpillageandsack Jul 27, 2015 4:40 PM Flag

    Yikes? With the Currency War taking its toll on gold and the miners for several years now, it is obvious that there is little enthusiasm for actual producers of precious metals. Since there is virtually no limit on the number of paper ounces that can be sold there is minimal price pressure to reflect the actual demand for gold and many other commodities. The churn of paper contracts simply overwhelm the discovery process. At present there are 93 owners for every ounce of deliverable gold at the COMEX. The market is simply "collared".

    As for earnings? Estimates range from -.03 to +.05 per share with a consensus of .00 or nil earnings.

    Yamana Hedged 60% of 2015 copper production at $3.10 and this will help, but copper and silver as co-products will not help drive down production costs as well as they did in the past.

    We should get some news on the Brio Gold sale and hopefully news on Cerro Morro and Agua Rica.

    The sub-$2.00 price truly amazes me… WOW! Shares at this price are like lifetime options.

    Sentiment: Strong Buy

  • goldmanpillageandsack goldmanpillageandsack Jun 10, 2015 8:29 AM Flag

    Most of the following arguments are simply irrelevant since the Treasury is the only institution that is authorized to issue our currency. The Fed is simply an illegal institution.

    Sentiment: Strong Buy

  • goldmanpillageandsack goldmanpillageandsack Jun 8, 2015 11:05 PM Flag

    On the same topic is: Confessions of an Economic Hit Man by John Perkins.

  • goldmanpillageandsack goldmanpillageandsack Jun 7, 2015 2:06 PM Flag

    Another great read on the subject is: The Creature from Jekyll Island by G. Edward Griffen.

  • goldmanpillageandsack goldmanpillageandsack Jun 4, 2015 9:23 AM Flag

    IMO The criminal banking Cartel remains vulnerable to a RICO Act prosecution.

    That the banks run an ongoing criminal enterprise can not be denied because of the constant fines they have paid and continue to pay for settling criminal activities without admitting guilt. Those regulators that negotiate those settlements are the co-conspirators within government for their failure to prosecute the crimes.

    The Banking Cartel clearly influences the judicial process and there are no time limits for RICO Act prosecutions. If and when we get a new influx of politicians of the Jeffersonian era that would take on the banks, this injustice perpetrated against the American people can be addressed.

    Until then, the criminal activities of the Banking Cartel will continue.

    The flip side to this argument is that fact that all of us live in relative prosperity and freedom because of the strength of our dollar. I say that our banks do not need to commit constant criminal acts in order to keep the dollar strong. Simply back the dollar with gold as our forefathers saw fit to legislate and get on with being benevolent stewards of a profitable and growing world economy.

    Sentiment: Strong Buy

  • goldmanpillageandsack by goldmanpillageandsack May 30, 2015 10:42 PM Flag

    We are now a bit closer to the all time record for claims per ounce of deliverable gold at the COMEX. The number is 110.6 claims per ounce. It is truly absurd leverage of a finite resource.

    There are only 373,000 ounces available for delivery and many hedge funds or investors of size could buy 3,730 contracts and take delivery to drive the price up substantially and make a large profit in the process.

    Taking the physical from the COMEX and selling it on the Shanghai exchange would make sense because it would fully support the price and be just a drop in the bucket of what gets sold there each week.

    With the Chicago PMI collapsing and GDP now negative for the first quarter, the Fed has its hands tied and if we contract again in Q2, the Fed will be likely considering Quantitative easing again.

    Some say that the markets can remain irrational longer than you can remain solvent. I say that they can not remain irrational forever and the longer the period of irrationality, the greater the move when they equalize.

    Sentiment: Strong Buy

  • Reply to

    Near record claims per ounce at COMEX.

    by goldmanpillageandsack May 14, 2015 11:05 AM
    goldmanpillageandsack goldmanpillageandsack May 25, 2015 9:16 PM Flag

    Last week the Shanghai Exchange delivered 45.48 Tonnes of physical gold. That is 1,462,216 troy ounces. To put things in proper perspective, there are a mere 372,631 deliverable ounces at the COMEX warehouses.

    It is a farce that the markets in New York and London set the price for a commodity they do not have in size or trade in meaningful volume.

    When this game of musical chairs comes to its scrambling end it will be interesting to watch the fat cats struggle to find an open chair (much less than one that can support their rotund backsides...)

    Sentiment: Strong Buy

  • Reply to

    Finally some good news!

    by goldmanpillageandsack May 14, 2015 11:12 AM
    goldmanpillageandsack goldmanpillageandsack May 18, 2015 10:25 PM Flag

    Some follow through buying… Investors like the thought of increasing margins.

    Sentiment: Strong Buy

  • goldmanpillageandsack by goldmanpillageandsack May 14, 2015 11:12 AM Flag

    The pipeline between Cheal - E and Cheal - A in now being tested and commissioned to transport gas from the field to the processing facility. This will allow for reduced costs and the frilling of new wells to increase production. Finally, I can say something positive!

    Sentiment: Buy

  • goldmanpillageandsack by goldmanpillageandsack May 14, 2015 11:05 AM Flag

    There are now a (near record) 107.7 claims per ounce at the COMEX!

    Last time this happened, the price of gold broke out for a while and then faltered and continued to slide. I am not saying that this time will be any different, but you never know when things will shift to re-balance gross market distortions. Especially with Russia selling dollars and buying tons of gold and Kerry flying over there to try to negotiate on the multiple differences between our nations. I wonder what is really going on?

    Plus the China Sea threat might be polarizing China and Russia against us.

    I'm not sure our leaders should be trusted with matches!

    Sentiment: Strong Buy

  • Reply to

    Credibility of markets?

    by goldmanpillageandsack May 13, 2015 1:58 PM
    goldmanpillageandsack goldmanpillageandsack May 14, 2015 10:43 AM Flag

    Compare Iceland (which jailed its criminal bankers) to the countries that were supposedly "bailed out". None of the bailed out nations have recovered and most continue to teeter on the verge of bankruptcy. All cower at the feet of the Banking Cartel. Iceland Rocks!

    Sentiment: Strong Buy

  • Reply to

    Credibility of markets?

    by goldmanpillageandsack May 13, 2015 1:58 PM
    goldmanpillageandsack goldmanpillageandsack May 14, 2015 10:37 AM Flag

    Of course there is strength in numbers, but the rules of the COMEX expressly define paper settlements as the way to solve/settle any Force Majeure situation. They do not even have to break any rules to do it.

    Your "wuss factor" statement has merit. Most who are living well do not want to rock the boat and give up material goods or social position in the name of principle. In todays society with its paramilitary police and prosecution for profit mentality few of means will ever even wag a finger or type a few sentences of protest on a blog or message board like this… "Life without principle" has become status quo.

    Regarding King George, you are spot on. With the notable exception that our forefathers fostered a revolution to break his grip on the issuance of script. Presently, our leaders bow down to the Banksters and wag their tails and do tricks for the favor of their campaign contributions.

    Sentiment: Strong Buy

  • Reply to

    Credibility of markets?

    by goldmanpillageandsack May 13, 2015 1:58 PM
    goldmanpillageandsack goldmanpillageandsack May 13, 2015 11:01 PM Flag

    Iceland is the only nation that got it right when it came to dealing with their banking criminals.

    Regarding those deep pocketed investors to demand payment in metal? They are aware that the Force Majeure capability would simply net them paper dollars and then they would be subjected to the wrath of the Banking Cartel forever… No one is that brazen or foolish!

    Sentiment: Strong Buy

  • goldmanpillageandsack by goldmanpillageandsack May 13, 2015 1:58 PM Flag

    I often wonder at what point the metals will break out again.

    The COMEX has a mere 372,235 ounces of gold in it's "Deliverable" category (about 11.6 tons) and seldom delivers more than 100,000 ounces (about 3.6 tons) in an entire month. To put it into perspective, the Shanghai exchange physically delivers nearly a million ounces (about 30 tons) per week! It is insane that the COMEX pretends that it is a legitimate commodity, price determining/discovery or even a delivery entity.

    It's not like the COMEX is going to fail, after all, it can always declare a "force majeure" and cash settle deliveries with paper if there is a stampede to take possession of physical metal. But at what price when there are over 80 paper holders of every ounce of gold in their warehouses.

    Lehman failed at 40-1 leverage. The COMEX is levered 82-1 right now.

    Is the COMEX credible?

    I think not.

    Sentiment: Strong Buy

  • goldmanpillageandsack by goldmanpillageandsack May 13, 2015 1:29 PM Flag

    This morning the BLS announced that export prices fell .3% and import prices declined .7% and gold rallies?

    It looks like the Fed is trapped into keeping interest rates low for longer than anyone could have imagined. Persistent deflation will not be tolerated and Central Banks will have to continue to print and dilute their currencies.

    Sentiment: Strong Buy

  • Reply to

    Will new management?

    by goldmanpillageandsack Feb 17, 2015 10:36 AM
    goldmanpillageandsack goldmanpillageandsack May 12, 2015 4:26 PM Flag

    My question #2 has been answered.

    Unfortunately, Guidi has hired an old friend - Frank Jacobs - who has no experience at any major oil company. This level of talent will not be likely to guide TAG to anything but continued failure in its deep drilling program. Sad to see this company hire from the bottom when there is an abundance of real talent available in the oil sector.

    Sentiment: Hold

  • goldmanpillageandsack goldmanpillageandsack May 12, 2015 3:54 PM Flag

    You are correct about this. Marrone missed the outside claims on the "Bonanza Zone" at the Malartic mine. Those claims are owned by former Goldcorp executives and will not be developed. For this, he should be penalized instead of rewarded.

    Sentiment: Strong Buy

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