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Yamana Gold, Inc. Message Board

goldmanpillageandsack 50 posts  |  Last Activity: 16 hours ago 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 by goldmanpillageandsack Aug 6, 2015 4:01 PM Flag

    A new record of 122.18 owners per ounce of gold at the COMEX has been established.

    Such insane leverage lends credibility to the claims of a "Rigged Market." Or even worse, criminally manipulated market. This makes me want to call it the CRIMEX.

    At the CRIMEX, there are less than 350,000 total deliverable ounces available to settle claims of 42,763,000 ounces. To put things in perspective: In the last week alone, the Shanghai gold market traded 2,356,296 ounces of gold. Very few ounces are ever physically delivered at the CRIMEX yet it plays a major role in the supposed "price discovery" mechanism. At leverage of 122 to 1 it is an accident waiting to happen.

    The US mint sold 202,000 ounces in the month of July alone, so one has to wonder how long the CRIMEX can exist without any credibility. My guess is that as long as the Banking Cartel runs the Executive, Judicial and Regulative branches of our government, this organized and ongoing crime will continue.

    Sentiment: Strong Buy

  • goldmanpillageandsack goldmanpillageandsack Aug 6, 2015 11:20 PM Flag

    cirodrick, Thanks for your encouragement, unfortunately I will only post here only occasionally.

    You are quite correct that the leverage could hit 200, 300 or even 400 paper contracts per ounce and the old quote "The market can remain irrational longer than smart investors can remain solvent" rings true in this case.

    There are no checks or balances left between the Banking Cartel and its use of the dollar and the trading platforms as weapons against virtually everyone. Therefore, until the rule of law is re-established and the Banking Cartel restrained, there is little investors in precious metals can do but "average in" to both physical metals and mining companies until this period passes.

    Sentiment: Strong Buy

  • goldmanpillageandsack by goldmanpillageandsack Aug 10, 2015 12:11 PM Flag

    What does it mean? Who is picking up the slack?

    China has been selling Treasuries to support its infrastructure building projects both at home and abroad. Instead of financing the buildout on credit. It "IS" a stimulus program of sorts but unlike the blatant QE of the US and Europe, it is not inflationary and, it reduces their exposure to the US dollar.

    Just last month, the Chinese racked up a $40+ billion trade surplus (of which $29 billion came from the US) and yet they are selling Treasuries at the same time. This merits a deeper look at a time when they are supporting a stable Yuan and preparing to become a reserve currency and a larger percentage of the SDR.

    So… This begets the question. Who is taking up the slack? My guess is the European Union. Since the EU is printing Euros at a $60 - $80 billion per month rate, it makes sense.

    Japan is also selling Treasuries. Remember, it was not so long ago they printed Trillions of Yen and bought Treasuries with them. Now they have become net sellers as well. The cycle of printing native currency, converting it to Treasuries and then selling them later by nation after nation is clear.

    The currency war is only warm against China (they hold too many cards) but it is hot against Russia. When the Iranian sanctions are lifted, oil could bottom at $40.00 or so (highly deflationary). This will really cause problems for Russia and its service of debt. Huge friction ahead there!

    Sentiment: Strong Buy

  • goldmanpillageandsack goldmanpillageandsack Aug 10, 2015 12:28 PM Flag

    Gross is right about that on a macro scale. However deflation was great for gold during the housing crisis. We had negative "Real Interest Rates" and most asset values crashed while gold appreciated. When the Iranian oil hits the markets, oil will take another leg down and it will be very tough for the FED to raise interest rates because of the underlying deflation.

    At best, they might get one or at the most two mostly symbolic rate increases accomplished before deflation forces the FED to continue QE, (of course it will be proclaimed a one time event) again!

    History don't repeat itself zactly, but it sure do rhyme...

    Sentiment: Strong Buy

  • Reply to

    China sells $180 billion in Treasuries

    by goldmanpillageandsack Aug 10, 2015 12:11 PM
    goldmanpillageandsack goldmanpillageandsack Aug 10, 2015 2:36 PM Flag

    Yes, it is truly bizarre. Do you think that the sanctions will be removed from Iran and the treaty ratified? The Oil companies and war mongers are paying the news networks millions to stop the treaty. If the treaty is ratified, the FED will have more deflation to deal with. As I said a year ago, "The FED has it's hands tied", they will again if/when Iranian oil enters the market.

    Sentiment: Strong Buy

  • goldmanpillageandsack by goldmanpillageandsack Aug 10, 2015 2:57 PM Flag

    Yamana investors should not forget the upcoming Argentine elections. If a pro western government is elected, we will see a reduction in the perceived risk of doing business in Argentina. Cerro Morro, Suyai and Agua Rica will have higher valuations and the Argentine Peso will appreciate strongly.

    Most people do not realize that Argentina has huge gas and oil reserves both on and offshore. There is more at stake for the US than meets the eye in the long run.

    At the same time, Alumbrera may be shut down by X-Strata and Goldcorp which will end Yamana's 12.5% royalty stream but free up the mining equipment for use in the new Catamarca mining district where Agua Rica is located.

    Sentiment: Strong Buy

  • goldmanpillageandsack goldmanpillageandsack Aug 11, 2015 7:52 AM Flag

    Interesting thought, and it makes sense for oil to be included in the inflation index for many other reasons because it influences all costs down the line.

    In the bigger picture, crushing the price of oil hurts Russia most and this is the primary interest of our oil pricing policy/currency war at the present time. If the US does not stop/ subjugate Russia during the temporary shale boom, Russia will quickly take control of the worlds energy markets and the US will be at a huge disadvantage. This is at the heart of the Ukraine situation.

    Sentiment: Strong Buy

  • Reply to

    Argentine Elections

    by goldmanpillageandsack Aug 10, 2015 2:57 PM
    goldmanpillageandsack goldmanpillageandsack Aug 11, 2015 7:57 AM Flag

    Right on cue a US Court of Appeals Judge has ruled that Judge Griesa had gone too far in preventing Argentina from paying its bondholders last year. This sets the stage for a pro-western victory in the upcoming Argentine elections. Hugely important for our relationship with this resource rich nation and Yamana's risk profile.

    Sentiment: Strong Buy

  • goldmanpillageandsack by goldmanpillageandsack Aug 20, 2015 10:59 AM Flag

    In the midst of the Great Currency War it is no surprise that the price of oil is being crushed. Oil producing nations are starving for currency to pay the Banking Cartel for the expansions they made during the oil bubble (remember peak oil?) just a few short years ago. There will be massive oil asset captures by the banks as a result. Companies like TAG (no debt) will survive and then thrive in the post-bust environment. Averaging in makes sense over the next few years for some long term positioning.

  • goldmanpillageandsack by goldmanpillageandsack Aug 20, 2015 1:03 PM Flag

    In the Great Currency War the Banking Cartel has turned it sights on oil and its producers for their next round of asset capture. Just a few years ago they were talking "Peak Oil" and driving oil land owners to finance development on a grand scale. Now they are calling those notes and driving crude prices down to multi-year lows at the same times as they have turned off the re-financing spigot.

    Keep in mind that the fracking boom will be short lived and that wells deplete quite quickly. Once the Banking Cartel captures enough oil assets, prices will suddenly rise again…

    Same ship, different body of water...

    Sentiment: Strong Buy

  • Reply to

    Oil is taking the heat now...

    by goldmanpillageandsack Aug 20, 2015 1:03 PM
    goldmanpillageandsack goldmanpillageandsack Aug 20, 2015 8:08 PM Flag

    The Currency War… A lot of people do not get it, or are willfully ignoring it. But this economic war with the value of currencies as chief weapon will surely go HOT. Many do not think that the blast in China was an accident. China devalues it's currency and ka-boom the worlds 10th largest shipping port gets blown to smithereens in an epic explosion.

    Looking at the damage and the blast crater, it is easy to speculate that it was some sort of kinetic hit.

    The price of oil hurts one nation more than any --- Russia. Russian exports of oil were becoming huge and they were starting to accumulate the dollars needed to pay back the costs of exploration and development. The US is in the midst of a short term energy over-supply so what to do? Destabilize Russia and its future dominance of oil trade. Force oil prices lower and crush the Russian currency at the same time. In this manner they can not pay back the development costs and western banks and drillers can capitalize on any defaults.

    This is the same manner in which smaller gold mining companies have been hammered into bankruptcy and default. The assets are being vacuumed up as I write.

    So --- Oil is a currency and gold is a currency, just as dollars, yen, yuan and rupees are currencies. All are subject to price manipulation coupled with cycles of excess credit and speculation --- then comes the inevitable withdrawal of credit that is purposefully managed to the greatest advantage of the Banking Cartel.

    The heat is off of gold for obvious reasons for a while. How long will it last?

    Sentiment: Strong Buy

  • Reply to

    Oil is taking the heat now...

    by goldmanpillageandsack Aug 20, 2015 1:03 PM
    goldmanpillageandsack goldmanpillageandsack Aug 20, 2015 9:00 PM Flag

    The only thing we know for sure is that we "don't know" what happened.

    I threw it out there because I just learned about the new kinetic weapons systems that are simply ultra heavy objects (like tungsten), dropped from space at hyper-sonic speeds and how damaging they are and how little evidence they leave behind and the weapon penetrates so deeply into the ground (it's the shockwave that does the damage). Countering this is the fact that there were fires burning before the explosions and the cameras were all facing the fires and any incoming kinetic weapon would have probably been caught on film.

    None-the-less, It's interesting to speculate on things like this because of our innate desire to figure out what happened when confronted with such co-incidental devastation.

    The closest thing I have seen is the fertilizer ship that blew up in a port in the southern US back in the 50's?

    Sentiment: Strong Buy

  • Reply to

    Oil is taking the heat now...

    by goldmanpillageandsack Aug 20, 2015 1:03 PM
    goldmanpillageandsack goldmanpillageandsack Aug 20, 2015 9:40 PM Flag

    FWIW, an ounce of gold will now buy 27.98 barrels of crude. For most of the time period between 2005 and 2009 an ounce of gold would buy less than 10 barrels. Interesting pairs trade for sure!

    Sentiment: Strong Buy

  • goldmanpillageandsack by goldmanpillageandsack Aug 22, 2015 9:37 AM Flag

    For over four years the Fed has been jawboning the market that it will raise interest rates (and not done it). Now that idea is nothing but a fantasy. Falling import prices, the price of oil crashing and increased productivity without any wage pressure are #$%$ slapping the Fed into the corner of the room and making them look stupid (again).

    The Fed's only path is to ease monetary policy or face recession. They have no room to lower interest rates.

    Just because the Fed is above the law, it does not mean that they are immune from losing all credibility. Unfortunately, our dollar based currency and our position as a world leader is based on the Fed having credibility… UGH!

    Sentiment: Strong Buy

  • Reply to

    The Fed's balls are in a vise now...

    by goldmanpillageandsack Aug 22, 2015 9:37 AM
    goldmanpillageandsack goldmanpillageandsack Aug 22, 2015 1:24 PM Flag

    The Feds rate raising talk is mostly hot air in my opinion. Look at Japan, they were trapped into zero interest rates way back in the late 80's when they refused to let their banks take their rightful losses when the real estate market crashed. Here it is 25 years later and interest rates are still pegged at nearly zero.

    Our Banking Cartel did the same thing, they refused to take their rightful losses from the real estate bubble and had the government bail them out. Now we are saddled with that debt and raising interest rates would trigger a financial disaster.

    For a while I thought that the Fed could make one or two symbolic rate increases this fall but now it looks like they are seriously stuck.

    Sentiment: Strong Buy

  • Reply to

    Oil is taking the heat now...

    by goldmanpillageandsack Aug 20, 2015 1:03 PM
    goldmanpillageandsack goldmanpillageandsack Aug 22, 2015 1:26 PM Flag

    Thats one way to get rid of excess inventory… Krugman would love it!

    Sentiment: Strong Buy

  • goldmanpillageandsack by goldmanpillageandsack Aug 22, 2015 1:52 PM Flag

    It is now week 32 for the year and China's off-take from the Shanghai Gold Exchange is setting records (contrary to recent reporting).

    At week 32 the following off-take is noted for the past 7 years.

    2015 -- 1,585 tons
    2014 -- 1,163 tons
    2013 -- 1,424 tons
    2012 -- 679 tons
    2011 -- 587 tons
    2010 -- 499 tons
    2009 -- 355 tons

    Just an observation...

    Sentiment: Strong Buy

  • Reply to

    Shanghai exchange numbers:

    by goldmanpillageandsack Aug 22, 2015 1:52 PM
    goldmanpillageandsack goldmanpillageandsack Aug 23, 2015 3:39 PM Flag

    Last weeks off-take was 65.3 tons. A new all time record for the Shanghai exchange. Coming right after the liquidation of $180 billion in US Treasuries by China.

    I do not think it is a coincidence that China devalued its currency and accelerated its gold purchases in the face of the IMFs decision to not include the Yuan/Renminbi in the adjustment to the SDR basket.

    What I do see is an acceleration of the process to denominate trade between China/Russia/Brazil/India/Iran and other nations in their local currencies. This is very bad for the petro dollar which is already suffering from a lack of trade due to the sudden lack of importing oil/exporting dollars.

    Sentiment: Strong Buy

  • Reply to

    The Fed's balls are in a vise now...

    by goldmanpillageandsack Aug 22, 2015 9:37 AM
    goldmanpillageandsack goldmanpillageandsack Aug 24, 2015 3:01 PM Flag

    I agree with most of what you are saying with the exception that while demand for autos and consumer goods has been pulled forward, our infrastructure needs are massive and growing. Funding the rebuilding of old infrastructure (roads, bridges, water & sewer systems, power grids etc.) can provide a huge boost to the economy. As you see with today's trading activity, the Fed and its Banking Cartel can intervene in the stock market and prop it up (for now). Long term, the credibility of the dollar is the elephant in the room.

    Sentiment: Strong Buy

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