Anybody notice the dollar index tumbled about 100 basis points the day after it went back to 'government as usual?"
Yeah. The quadrillion dollar derivates dike needs more than a Dutch boy's thumb to keep from imploding. Asian gold offtake has been FEROCIOUS this year. #$%$ fire, they're on a pace to offtake 2 years mine supply between China and India alone. Just wait until they start buying silver in size. They'll like the fact that they can buy all of it for less money than you or I would spend at a gas station. Trillions and trillions of FX reserves and that little tiny pile of silver at $22. There's maybe 2 billion ounces of silver out there worldwide. That's nothing. There's actually more gold, although that gold would never see the light of day at these prices. Silver $22? Why 60 times cheaper than gold? They only mine 9x more per year? There will never be a huge increase in silver supply unless the price went back to $40-50 and the miners would actually build a new mine again.
WHAT are you talking about?! PAAS moved a total of 10 or 20 cents today and was up 1 penny? The CEO reiterated a COMMITMENT to the dividend even in the current lower silver price environment at the Denver Gold show last month. PAAS is trading at a decade low now yielding 5%+. The enterprise value for EVERYTHING this company has is BARELY 1 billion USD. Almost a half billion in cash. This is a travesty what the banksters and market scammers have done to these equities.
I buy gold and silver at lower prices than I could before. Stay dumb and uniformed my friends..."
Look how bad they all do. No matter if its a triple leveraged bull or bear ETF they all seem to destroy everyone's capital. As for GLD and SLV. Uh, let's just say I would vomit if I held that paper. You have to think a switch to silver would be a smart play at some point. 60:1 is just not right. You have the 9:1 mining ratio (725M ozs vs. 80M ozs) You have the 5000 year historic monetary ratio about 15:1. And you have the natural geologic ratio around 15:1 as well. So 60:1 with global above ground supplies of silver being so low???!! I mean, C'MON!!! There is only 1 or MAYBE 2 billion ozs of available silver in the world that even exists. That is only $20-40B worth of USD! Are you kidding me?! ALL THE SILVER IN THE WORLD IS WORTH LESS THAN A SOCIAL MEDIA STOCK LOL. Some people say gold and silver are going lower. That would be opportunity. Anybody have a stock with a PE over 30 they are thinking about selling? lol
Sentiment: Strong Sell
Sell, convert to bullion held outright. Look at NUGT, what a JOKE. 800 to 39 in less than a year. Wow. Giving them your money in these etfs are like letting a crooked lawyer handle your financial affairs.
SELL SLV. Tubes of shiny. 10 and 100 oz bars. Monster Boxes if you don't mind the size. Hold a little back in case they smack it down one last time and you can buy even lower maybe if you really believe that fiat money will rule the day in the end LOL.
Sentiment: Strong Sell
With a gajillion in assets and gajillion in liabilities this company should be ok and can sustain this nickel dividend I'm sure for a long time. Will they sell Blackrock at the top of the market or will they firesale it like they did that other brokerage they owned and the skyscrapers they sold in 2009?
Well, it's working, everybody hates gold if you read the media, except the Asians who are buying thousands of tons per year. I don't hate gold LOL. I hate aluminum. The flouride byproducts are added to water supply and apparently are making people stupid. Get a filter or drink RO. And stop eating the aspartame and HFCS and other assorted genetically modified toxins. Don't get me started on the Sickcare System and Big Pharmas POSIONS. See, that's why they CAN'T DEFEAT GOLD. Gold has truth and liberty on its side and attracts people who value truth and liberty (like almost everyone!)
If they had $9B to spend they should buy about 400-450M ozs of silver bullion and warehouse it and one up Warren Buffet, who once owned the largest private silver stash in the world. No one knows what really happened in 2005-6, but any intelligent observer will see it was probably all called away because he was writing options for income on the hoard and BOY WAS HE SURPRISED when silver rocketed from $5 to $15 in basically one relatively quick motion.
Hey and before you downvote me, I am being serious here. I bank at PNC lol. PNC could use the silver as collateral to really make some serious moves and they could even write calls against it to generate income and capital gains. The problem is, no one entity has that much silver. Yet.
I don't know about you, but I'm not feeling medium term bullish at all. Maybe Yellen spikes the punch bowl and Dow goes 20k+ but I doubt it, and if it does silver will be $50 anyway on the liquidity and "growth" BS jargon hype and outperform by multiples.
You do know all accounting is FAKE now right? Like we all know CPI PPI unemployment etc is fake data, but now FASB allows fakery in company accounting. And don't forget they are now going to FAKE the GDP numbers by jiggering a statistic or two and falsely boosting the number 3%. Do you think the market will be dumb enough to believe it forever?
The gap filled today finally from June last year. This was in cards and coming for a long while. The markets are rigged.
What would you rather have. Seriously, we will put it into a time capsule for 3, 5, or 10 years and see how it shakes out. When the silver/gold ratio gets back around 20:1 you can switch some to gold. A LOT of gold.
Is it because it is REAL? Does it threaten them? I bet they are LYING AGAIN, like in 2007 when they were loading up widows, orphans, and retirees with toxic sludge mortgage backed CDOs while secretly short selling them and laughing about it in Emails. Sick pathetic losers who contribute nothing to society, except sucking like a parasite.
They earn $15 per share and yield 1.3%? What a JOKE. Guess their earnings are all "smoke and mirrors" and their balance sheet and assets are a mixed bag of toxic sludge and goofy derivatives. This stock was higher in 2006. LOSER STOCK RUN BY CRIMINALS AND SOCIOPATHS.
You'd have to be crazy to not like a 15-16M oz producer going to 20M in the next 4 years with low costs and organic growth. Watch the Denver Gold presentation it is easy to find. 2014 and beyond are free cash flow accumulation period for AG and becoming a dividend payer. Keith has always said dividend is coming but he didn't want to do it before Del Toro was up to speed.
Check out Endeavor Silver's quarter. Silver and gold production are WAY up and revenues and cash flows are strong despite the govt/bankster smackdown in silver. These companies are going to be more than fine. They will be great again.
Sentiment: Strong Buy
They can shutter the 2 Peru mines that are coming in with the very high costs and that would drop the company average down and restore a good margin. Those 2 mines are only a few million ozs out of a huge production base. And they are long life, and can be reopened later when silver is $42 not $22.
They're really desperate to get as many people to sell out as possible at the lows. GS is buying gold and saying sell, sort of like they were shorting MBS sludge while chirping "buy."
As for Kinross, the Red Back deal was one of the worst transactions I've seen based on the immense volume of shares they created, but I believe currency will be created faster than gold or gold shares LOL. Fruta del Norte was another disaster, but at least they had the right idea: to own the best large high grade deposit around. I guess the thing about Kinross compared to the majors is they have a flexible looking balance sheet and they are producing quite a bit of gold although with a slimmer margin than before. I prefer a dividend payer producer or a junior with more growth that offer the same or better value.
You so full of bullcaca socrates. SSRI can just shutter their stupid mine in Argentina if necessary. It's not even worth the time and trouble to mine there if silver was $41 not $21 imo until the after the commies destroy their economy (again.) The great thing about SSRI is they have several excellent assets besides Pirquitas, and dozens of other targets, many of which can become viable mines when silver isn't priced at below mining costs like today's idiocy.
You could buy every single ounce of global annual mine supply for less money for about 5 days of QE. All the silver mined in the entire world is only 2/3rd of Tesla's market cap LOL. What would you rather own, ALL THE SILVER IN THE WORLD, or a controlling stake in a small niche car company? LOL
Sentiment: Strong Buy
Your silly to say PAAS is "high risk" with tons of cash and all those assets at dirt cheap prices. Even SSRI is not high risk at these prices, they are also loaded to the gills with money, own a huge position in Pretium Gold, and tons of assets besides the Argentina junk.
It almost make sense for PAAS and SSRI to join together, they would have market cap of about $2B with $1B in liquidity(!), what could be better? And they'd truly have a dominant resource base, which is mostly untapped in the case of SSRI.
Sentiment: Strong Buy
The market capitalization of ALL the gold that has EVER been mined in human is only about $7 trillion... (5-6 billion ounces x $1300) That's less than Obama deficit spent in one term. That's a FRACTION of the funds the Fed and other CBs "produced" for the bailouts in 2008-2009. A whole years world mine supply is only 80M ozs or ~$105B. Just the QE program alone in one month creates nearly as much currency as every ounce of gold mined in a year. So a year's QE creates enough money to buy over a DECADE of mine supply. If you do the math on silver this way the numbers are even more #$%$.
Wake up people, China is buying over 1000 tons per year, has been, and will continue to do so. They are on a pace to own more gold than US ad EU combined before this decade is over! Who will have the world's reserve currency then? Dollars? Euros? LOL
All the majors should shelve their high cost mines for a while and strangle physical supply and see how that works: physical supply shortages trigger price rise, company margins and cash flows improve, and the gold is always still there to mine later.