Thursday, 8/28/2014 11:35
Global photovoltaic silver demand seen rising 5-10% in 2014...
A SHARP turnaround in the global PV market, led by China, is set to boost world silver demand from the solar-cell industry by 5-10% in 2014 according to leading analysts Metals Focus.
The photovoltaic industry – which prints conductive silver inks onto PV cells to collect and conduct solar energy as electricity – saw a "hemorrhage of silver use" over 2012 and 2013, data consultancy Thomson Reuters GFMS said in its Silver Survey this spring, published for the US-based Silver Institute.
Global over-capacity, plus the loss of those Chinese, US and European government subsidies which had created it, met a drive to replace or reduce the amount of silver used in each cell after the metal hit near-record prices in 2011.
2014 in contrast has now seen a "revival" of PV demand, says metals analyst Robin Bhar at French investment and London bullion bank Societe Generale, with the industry "emerging in strong health" according to private consultancy Metals Focus.
Indeed, amongst renewable energy sources, says a new report from the International Energy Agency published Thursday, there is a "stronger outlook" for solar than other technologies such as windfarms.
"After surging early this decade," says Bhar at Societe Generale, "demand from the solar industry went through a tough period in 2012 and early 2013...[with] a drop in the pace of new installations globally."
But now, and helping drive a 90% drop in silver stockpiles at the Shanghai Futures Exchange (SHFE) over the last 18 months, the market "has seen a turnaround, with 2014 on course to see a record amount of additions of Chinese solar capacity."
Export data further suggest that China's sales of PV cells to foreign buyers have also "risen appreciably," Bhar adds.
"Following a difficult 2012 and early 2013," agrees London-based consultancyMetals Focus, "the solar industry appears to have emerged in strong health..bullionvault
Gold hit the circled number at around 6:30 AM to the EXACT tick, AGAIN, then immediately sold off $4. Algo sentinels are ALWAYS standing guard. More of the same on the Comex open, although that time it ever-so-slightly exceeded 1%. Of course too there was another lower 6:00 PM silver (and gold) access trade, 84 for 88, and somewhere around 30 in a row. Not watching gold get capped and then fade the rest of the day from here would be a pleasant surprise.
Maybe though getting two 1% limit- ups in the same week at least bodes well for next week?
James Mc comes back with…
A little perspective on the PM’s from August of 3 years ago to present:
Price of palladium August 2011: $770
Price of palladium August 2014: $900 (+17%)
Price of platinum August 2011: $1490
Price of platinum August 2014: $1430 (-4%)
Price of gold August 2011: $1900
Price of gold August 2014: $1290 (-32%)
Price of silver August 2011: $44.00
Price of silver August 2014: $19.50 #$%$)
Compared to palladium gold should currently be $2223 and silver $51.50. Compared to platinum gold should be $1824 and silver $42.25. Both comparisons are a little irrelevant as, like all commodities, even PA and PL have probably never seen truly free trading. Regardless it is good to see where gold and silver could be heading once the lid blows off.
By California Lawyer Wednesday, August 27, 2014 at 4:12 pm
Real estate flippers avoided criminal conviction because they argued, and persuaded the jurors, that the REAL criminals were the banksters!! No way!!!
“In an unprecedented trial, four people charged with mortgage fraud were acquitted Friday by a jury in Sacramento federal court after defense attorneys argued the real culprits are the so-called victim lenders.”
The winning defense attorney, naturally, highlighted the real issue:
““The big banks and other lenders made as many loans based on patently false information as they could, packaged them as securities and passed them up the chain to Wall Street’s investment and management bankers, who peddled them to an unsuspecting public,” said defense lawyer Tim Pori after the verdict.
“No bank executives have been prosecuted,” Pori said. “Sure, there have been multibillion-dollar settlements with some big banks, but none of their officers – the ones who really pulled the strings – will ever see the inside of a cell.”
The star defense witness, none other than William Black, chimed in as well:
William Black, who boasts long academic and regulatory careers, was a key expert witness for the defense, again over Coppola’s objection. Black is an associate professor of economics and law at the University of Missouri, Kansas City, and the “distinguished scholar in residence for financial regulation” at the University of Minnesota’s School of Law.
His testimony purportedly connected the fraud in the Sacramento case directly to the lenders, and he explained to the jury why the false information on the applications had no bearing on lending decisions.
“This is the first time that the overwhelming fraud at the banks has been discussed in a criminal courtroom by the person with the greatest expertise on the issue, William Black,” said defense lawyer Toni White after the verdict.
“Prosecutors have refused to criminally prosecute the elite bankers responsible for the mortgage crisis that decimated our economy.
In my MOAMOPE essay I said:
"Market manipulations and control of gold trading are what I have documented now for over 15 years. Many of these manipulations are well-worn, tried and true. Nearly all have intensified over the past 3 years."
Well-worn indeed, it’s more like a 10 feet deep rut in the trading charts. Today pretty much encapsulated that thought to perfection. First you had a lower silver access trade, the 82nd out of the last 86 opens. You then had a gold rally stopped at exactly 1%, at exactly 3:00 AM. Next up was 2 more attempts to surpass the 1% ceiling getting stopped, one of which was on the Comex open. This was followed up by the 10:00 AM selloff leading into the London close, which also produced a PM fix only 50 cents higher than the AM fix. To say the cartel algos were firing on all cylinders is an understatement.
There have only been 2 PM fixes escape the +$5 zone since June 20, and only a handful all year. It’s obvious that New York and London are fighting off gold bulls with all their might. Next week should produce the best chance for fireworks in a long time. This week however is all about silver control. The current thin trade will get a lot less thin after Labor Day. Seasonals also kick in so it will be interesting to see what ammo, if any, the cartel has left in September and beyond. A 10 foot deep manipulation rut combined with an epic 3 year suppression scheme is the setup for explosive action.
The CME’s Globes "glitch", or, take your pick "routine maintenance" was a glimpse of how a force majeur would feel. One minute you think you’re long 10 tons of gold, the next you ain’t got diddly squat. Hmmm, maybe they were just practicing unplugging the machines.....
... A broad-based tax cut, for example, accommodated by a program of open-market purchases to alleviate any tendency for interest rates to increase, would almost certainly be an effective stimulant to consumption and hence to prices. Even if households decided not to increase consumption but instead re-balanced their portfolios by using their extra cash to acquire real and financial assets, the resulting increase in asset values would lower the cost of capital and improve the balance sheet positions of potential borrowers. A money-financed tax cut is essentially equivalent to Milton Friedman's famous "helicopter drop" of money
- Ben Bernanke, Deflation: Making Sure "It" Doesn't Happen Here, November 21, 2002
The only question left was when would the trial balloons for such monetary paradrops start to emerge.
We now know the answer, and it is today.
Moments ago a stunning article appearing in the "Foreign Affaird" publication of the influential and policy-setting Council of Foreign Relations, titled "Print Less but Transfer More: Why Central Banks Should Give Money Directly to the People."
In it we read the now conventional admission of failure by Keynesians, who however, unwilling to actually admit they have been wrong, urge the even more conventional solution: do more of the same that has lead to the current financial cataclysm, only in this case the authors advocate no longer pretending that the traditional monetary channels work but to, literally, paradrop money. To wit:
To some extent, low inflation reflects intense competition in an increasingly globalized economy. But it also occurs when people and businesses are too hesitant to spend their money, which keeps unemployment high and wage growth low. In the eurozone, inflation has recently dropped perilously close to zero. And some countries, such as Portugal and Spain, may already be experiencing deflation. At best, the current policies are not working; at worst, they will lead to ...Zerohedge
Saturday, August 23, 2014 at 12:23 pm
James C. McShirley
Virtually every evening for the last 3 years at precisely 6:00 PM EST something very odd has happened: Comex silver offers swamped the bids to the tune of a 3-10 cent decline. For this to happen for three consecutive weeks would be strange. If it were to happen for three straight months it would be bizarre. MOAMOPE can only describe when it occurs for three straight years. It's a veritable Algopalooza! Silver has had a near-iron clamp imposed on it commencing with the access trade reopen. How severe is this iron clamp? From September 1, 2011 to the present, 621 out of the 744 6:00 PM access trade opens have been lower. All manipulation denialists take note: that's an astounding 83.5%.
Legitimate hedging? Yeah, right. Ya think maybe deep pockets with algo sophistry?
The pattern is consistent, pervasive, and relentless. For 36 straight months not ONE month has had a greater number of higher opens than lower. Amazingly 35 out of 36 were between 80-95% lower, and the lone outlier "only" had 67% lower openings. The pattern was irrespective of rising or falling silver prices. From January 1st to February 28th of 2012, for example, silver rose $9.28, going from $27.86 to $37.12. That's a whopping 33% gain! During that time, however, 34 out of 42, or 81% of the 6:00 PM access trade opens were lower. It was a bull market in silver in the context of a raging bear market in access trade opens. The MOAMOPE was in all its glory!
Selling the 5:30 PM access trade close MOC and then covering 2-4 minutes after the 6:00 PM reopen has been a license to print fiat money for those willing to shadow cartel behavior. Even a 1-lot trade over 3 years could have netted someone $70-100k on a measly 3 cent scalp. The unusually high percentage of lower access opens is actually far worse than it looks, since the few higher opens for the most part faded as the evening wore on.
James C. McShirley
The advent of computer generated trading algorithms heralded a quantum leap forward in the quest for 24/7 control of markets. No longer were humans beings required to do such unseemly things as man trading desks or worry a whit if free markets were, if even infrequently, attempting to function. Algo precision has made even the blackest of black swan events seem to turn lily white in their utter non-eventfulness. No more significant Dow or bond crashes, and best of all, no gold rallies exceeding (exactly) 1.00%, or the occasional 2.00%. Algo sentinels now stand in a permanent state of vigilance, keeping MOPE alive. (MOPE is what Jim Sinclair refers to as "management of perspective economics".) Market manipulations and control of gold trading are what I have documented now for over 15 years. Many of these manipulations are well-worn, tried and true. Nearly all have intensified over the past 3 years. It seems as if one could throw a dart on a trading dartboard and hit an anomalous trading pattern nearly every time. Even with that said, I was stunned to stumble on to the biggest trading anomaly of all: the MOAMOPE - the mother of all management of perspective economics.
MOAMOPE is quite simply the stunningly high percentage of lower opens on the 6:00 PM silver access trade open. Perhaps some have noticed the oddity in the form of a Kitco 3 day chart.
Look familiar? It should, it’s happened 621 times in the past 3 years.
Virtually every evening for the last 3 years at precisely 6:00 PM EST something very odd has happened: Comex silver offers swamped the bids to the tune of a 3-10 cent decline. For this to happen for three consecutive weeks would be strange. If it were to happen for three straight months it would be bizarre. MOAMOPE can only describe when it occurs for three straight years. It's a veritable Algopalooza! Silver has had a near-iron clamp imposed on it commencing with the access trade reopen. Cont... The Swiss Gold Initiative TFmetals
Uploaded on Jun 11, 2011
Desperado, why don't you come to your senses?
You been out ridin' fences for so long now
Oh, you're a hard one
I know that you got your reasons
Comment from SE article....
Um....the prospectus you base this article on is actually just a supplemental prospectus, meaning it updates one that was filed in August 2012. It does not mean that a new batch of 23.8 million shares is coming to market. In fact, all it does is update the name of one of the holders, Traxsys, that was listed as a potential seller in the prospectus that was filed two years ago. It seems that Traxsys was acquired by Carlyle Group, and must have undergone some internal reorganization such that the Traxsys position is now held by an entity (presumably within the Carlyle Group) named T-IS Holdings LP. So we're talking about the same 23.8 million shares that were made free to trade by the original prospectus in August 2012, and there's no indication whatsoever that any of these shares is coming to market. I hope this helps clear up your confusion.
Aug 20 03:35 PM
Co reports the results from deep infill drilling underway in the Valley of the Kings, including the intersection of visible gold. (See Table 1 below for assays.)
Selected drill highlights include:
Hole SU-632-W4 intersected 335.65 grams of gold per tonne over 2.10 meters, including 4,130 grams of gold uncut over 0.80 meters and 3,530 grams of gold uncut over 0.50 meters.
The extreme gold grade noted above was intersected in hole SU-632-W4, which was wedged downhole off drillhole SU-632 at 272.5 meters. Drillhole SU-632 was collared in the western part of the Valley of the Kings. Directional drilling, which enables offset holes to be drilled downhole from a single surface drillhole, is underway as part of a deep infill drilling program in the Valley of the Kings in support of the mine plan for the Brucejack Project. Drilling is being conducted on a portion of Inferred and Indicated mineral resources from the December 2013 Valley of the Kings Mineral Resource estimate below the 1345 meter level.
Submitted by cpowell on 07:25PM ET Monday, August 18, 2014. Section: Daily Dispatches
10:25p ET Monday, August 18, 2014
Dear Friend of GATA and Gold:
In the report appended here Randgold Resources CEO Mark Bristow complains to Bloomberg News today that the gold-mining industry is boosting supply to the market even while mining the metal at an increasing loss. Overlooking the gold mining industry's silence and the silence of its supposed trade association, the World Gold Council, in the face of the longstanding Western central bank policy of gold price suppression, Bristow seems not to understand even half the problem.
Randgold shareholders might ask Bristow if he's aware of any of the documentation archived by GATA
and if he plans to do anything about it. If he's not and he doesn't, he'll have one more reason to be shaking his head at his brain-dead industry.
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
There is strong opposition to any proposal to end the Federal Reserve and move away from its paper dollar. The Fed has many ideological and, of course, crony supporters. So it’s interesting that there was little controversy in Oklahoma around removing one of the obstacles to the use of gold as money. Republican Mary Fallin, the governor of the Sooner State, signed into law legislation that recognizes gold and silver as money. There was bipartisan support, particularly in the state Senate.
Oklahoma doesn’t force anyone to accept gold or silver in payment. It simply exempts them from state sales tax. While sales tax on the metals was probably a minimal source of revenue for the government, it was certainly a major competitive disadvantage to bullion dealers. Price sensitive buyers simply shopped out of state.
Utah has a similar law, which also exempts the monetary metals from capital gains taxes, and Arizona has been trying to pass one. Capital gains tax on the metals is a roadblock preventing their circulation. Although the Oklahoma law is more modest, exempting only sales tax, it’s an important step towards the gold standard.
For a hundred years, nearly every law and decree pertaining to gold was bad. The Federal Reserve was created in 1913. President Roosevelt is infamous for confiscating the gold belonging to the people in 1933. President Nixon is reviled for defaulting on the government’s international gold obligations.
It’s encouraging that Oklahoma is joining the trend to right these wrongs. Their new law is no mere tinkering with the sales tax. It’s about gold and silver as money, and the text of the bill states this clearly. Other states are working on gold bills, including Kansas, Texas, and South Carolina.
The gold standard movement is profoundly important. It’s becoming obvious that the dollar system is unsustainable. Debt is rising out of control, and the benefit of additional borrowing has diminishing returns. Continued.....Forbes
Mark J Lundeen
August 17, 2014
It’s a different world today; one where short attention spans in both the media and the public dominate cultural and financial opinions. There are now $4,921 paper dollars in circulation for each ounce of gold the US Treasury claims to hold and no one seems to care! But in the decades following WW2, a significant percentage of Americans still understood that American industry and finance was built on the gold standard with its limited money supply.
Gold - Eagle
Many analysts have dinged MCP for delays in their production facility. As an engineer, I'm fully aware that estimates are almost always wrong, especially when the project involves innovation. Even the top technical companies in the world often have grossly underestimated a project duration. To me, this is just the normal process for developing a state-of-the-art facility.
Demand for REE has been hurt not just by higher prices, but also by not having a stable supply. Molycorp hopes to provide that stable supply that will be immune from geopolitical issues. MCP indicated during its last earnings call that customer demand is there at full production levels:
Based on conversations with our customers, we currently see demand sufficient to support running Mountain Pass at an annual rate between 20,000 to 23,000 metric tons. Beyond Mountain Pass, our vertically integrated supply chain continues to perform well. As I mentioned earlier, every molecule we ship downstream from Mountain Pass is ultimately sold in a higher value form. In particular, we have been steadily growing downstream shipments from Mountain Pass of light rare earth concentrate what we call LREC to feed our Silmet and Zibo plants. Demand for the value-added products these plants produce including cerium is improving. -- Geoff Bedford, president and CEO
Some have speculated that demand will fall as MCP increases their production volumes. This may be true for some raw elements, but MCP's vertical integration strategy will allow it to move those elements downstream to higher margin products. Also, many customers will also be willing to pay a higher prices for stable supply. An interruption in supply is much more concerning to manufactures than price fluctuations.
In addition, there are numerous indications that long-term demand for REE is going to be much higher than originally thought.
Jesse....14 AUGUST 2014
It was capping time again, as gold and silver continued to chop sideways within a narrow trading range. Ordinarily I would think they were coiling for a move higher, but these days gold and silver seem correlated to nothing but some fairly heavy handed price manipulation in New York and London.
Stocks drifted higher on bad economic news, moving without thought like a stumbling herd of zombies in The Walking Dead.
Bear in mind that tomorrow is a stock market option expiration, and the games were being played in selected stocks, including the miners, this week.
The big show is in September with the Alibaba IPO. Road show starts 3 September and the IPO date is tentatively 16 September. Biggest IPO ever. Maybe a bell ringer.
The Central Banks have made a right mess of things in the US and Europe, haven't they? They can play the plausible deniability card all day long, like the politicians and CEOs who are fabulously overpaid and over privileged. When things go bad they haven't been involved, it wasn't in their job description, and can barely remember their business address.
But as a powerful regulator and monetary authority, and a major influencer of the prevailing economic opinions, they really have no excuses for the serial disasters that they have spawned, in the service of the crony kleptocracy centered around the Banks. They have been taking the people's money, directly and indirectly, and handing it right over to the wealthiest few who caused most of the problems in the first place. And remember, it was the Greenspan Fed that led the charge with the Banks to relax regulations and repeal Glass-Steagall.
The Anglo-American financial system reminds me of the original Planet of the Apes. The central banks are like the gorillas. They have all the horses and the weapons, and ride around and shoot and enslave the human beings.
U.S. TIC long term purchases fell unexpectedly last month, official data showed on Friday.
In a report, Department of the Treasury said that U.S. TIC long term purchases fell to a seasonally adjusted -18.7B, from 18.6B in the preceding month whose figure was revised down from 19.4B.
Analysts had expected U.S. TIC long term purchases to rise 27.3B last month.
Crimex needed to also help with options exp today.
Lloyd Blankfein infamously proclaimed that "investment banks were merely doing God’s work." Apparently doing God’s work oftentimes includes shaking down God’s very followers, as a church in Indianapolis has discovered. According to Christ Church Cathedral they were duped by JP Morgan into paying exorbitant fees for (mis)managing $35m in investments for them that performed, well, less than stellar. Putting it another way JPM apparently had them invested in everything JPM needed to dump, and now CCC is $13m the poorer for it. On the other hand one has to also wonder if even Christ Church is really doing that much of God’s work, what with a collective $67 million lying around to invest in Wall Street. Sounds more like a casino masking as a Cathedral? Regardless the lawsuits are flying, and CCC is (literally and legally) praying for relief.
Everyone is tired of hearing about The Gold Cartel doing what they do to keep both gold and silver at artificially low prices. But, sometimes it can be valuable to have knowledge of their activities because they can be spotted leaving clues as to what is coming down the pike … thus, it is the same as piecing together a puzzle. This seems to be one of those times.
After opening lower (once again) in the Access Market last evening, both gold and silver managed to work their way up until the cabal’s traders reported for work in London and then went with a PLAN A hit. Both precious metals were lower in early Comex trading, but then began to take off following a weaker than expected US jobless claims number.
Gold blasted its way to, you guessed it, $1320. Silver? It roared back to $20. And then the bums showed up, as THEY keep doing. All the gains for the day were taken back shortly and then it was comatose time.
As usual, James Mc was on the case…
The same nice people doing God's work
Cap, cap, cap- there’s absolutely fierce capping going on right now in gold and silver. Gold traded above $1320 for all of 3 minutes, before being shot down once again like a wounded duck. I truly have no idea what is going on with the futures. With the integrity of the COT data now proven to be compromised and the fact that silver can open lower 74 out of 78 times on the access trade open with nobody even batting an eye then futures may ultimately just be one big charade. At this point anything is possible, including force majeur. In the mean time Tuesday, August 26th is silver option expiration day, or, as it is known to the cartel, the quarterly screwing of the call holders. It sure looks like they are hell-bent on sub-$20 by then. To say September will be highly anticipated is an understatement.
Just more evidence of direct crude oil market intervention by US and "allies". Note the huge selling spike that has appeared at the same time for each of the last four days.
Chart can be found...
The Latest Batchelor-Cohen Ukraine Discussion
Page 2 of comments...tfmetalsreport
GOLDEN, Colo., Aug. 12, 2014 /PRNewswire/ -- Golden Minerals Company ("Golden Minerals" or the "Company") (NYSE MKT: AUMN) (TSX: AUM) is pleased to announce it has signed a contract to acquire the Santa Maria mine, a privately held property near the Parral District of southern Chihuahua State, Mexico located approximately 20 kilometers from the Company's Los Azules project. Separately, the Company has released results of additional drilling at the Los Azules exploration property.
The Santa Maria mine hosts the Santa Maria silver (Ag) and gold (Au) bearing quartz vein cutting Cretaceous calcareous sedimentary rock that has produced historically on a small scale from a 2.1 meter wide epithermal vein. The vein is accessed by a three meter by three meter ramp from surface to a depth of approximately 75 meters. The Company recently completed a project to rehabilitate access to deeper levels of the mine that were previously inaccessible. Sampling from these levels has yielded encouraging results. The following table of underground channel sample results represents selected samples from over 370 total channel samples. Silver equivalents have been calculated at 60:1, silver to gold.