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McEwen Mining Inc. Message Board

robey743 32 posts  |  Last Activity: Aug 17, 2015 11:50 PM Member since: Feb 4, 2009
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  • robey743 robey743 Aug 17, 2015 11:50 PM Flag

    From your post:
    "US private net worth increased 4 times since 1995."

    The 53.06% inflation, between 1995 And 2015, reduces your claim of `4X increase' in private net worth to 1.88X increase.

    Put another way, again, your 4X private wealth increase over stated period of time lost 53.06% of its value to inflation.

    Provide a link to the claims (and corroboration of same) you have made about the 4X increase in private wealth.

  • robey743 robey743 Aug 17, 2015 9:51 AM Flag

    "Even assuming that dollar is leaner now,"

    No need to assume when the historical facts are available.

    The currency, (USD) upon which you are basing your 4X wealth increase, has lost 53.06% of its value, (purchasing power). due to inflation - And there are other factors, not mentioned, that have also reduced, (and are reducing still) the value of the USD - Due to inflation alone; reduce your 4X by 53.06% and you will find that your number is 1.8776X, (over a 20 year period).

  • robey743 robey743 Aug 16, 2015 11:55 AM Flag

    Inflation calculator and change of price between 2 dates*

    The equivalent of $1 USD on January 1, 1995 is $1.53 USD on July 1, 2015
    Inflation over the period: 53.06 %

    The equivalent of $1 USD on August 1, 1971 is $5.59 USD on August 10, 2015
    Inflation over the period: 458.74 %**

    * Consumer Price Index (CPI) for US dollar (United States) published by US Federal Bureau of Labor since 1913
    **The `big’ change to the USD; August 15, 1971, President Richard Nixon announced that the United States would no longer convert dollars to gold at a fixed value, thus completely abandoning the gold standard, reducing the USD to fiat currency status.

  • robey743 by robey743 Aug 14, 2015 9:28 PM Flag

    COT Report - August 14, 2015
    US Dollar Index COT Report – Futures
    Long = +798 (Open Interest = 10,940)
    Short = +691 (Open Interest = 90,040)

    COT Report - August 14, 2015
    Gold COT Report – Futures
    Long = -4,806 (Open Interest = 166,020)
    Short = +4,832 (Open Interest = 190,478)

  • Reply to

    newmont gold hiest in mexico

    by edmundaronson Aug 12, 2015 11:16 AM
    robey743 robey743 Aug 12, 2015 1:21 PM Flag

    I checked the Newmont home page, nothing mentioned. Plus, I did a web search using both Google and Yahoo browsers and found only a couple vids on youtube, (which may be fantasy) - I didn't open vids.

    Do you have a link for story/news?

  • Reply to

    Big swings in technology sector

    by jazenevd Aug 12, 2015 9:10 AM
    robey743 robey743 Aug 12, 2015 1:12 PM Flag

    China Again Devalues Its Currency

    “World stock markets are selling off again Wednesday, while at the same time there is increased safe-haven demand for gold and U.S. Treasuries. The Chinese government on Wednesday again moved to devalue its currency, the yuan, by 1.6%, after dropping its value against the U.S. dollar by 1.9% on Tuesday. China has been implementing economic and monetary measures to stimulate its flagging economy.”

    “China got more disappointing economic news Wednesday when it was reported its industrial output rose 6.0% in July, year- on-year, following a 6.8% rise in June. A 6.6% rise was expected in July.”

    The US should be so lucky; having an industrial growth YOY of 6.0%, while showing a slow-down, is not as difficult to overcome as what the US presently faces.

    One additional thought:
    China's growth is, at present, also dependent upon, (in part) the US consumer buying their products.

  • robey743 robey743 Aug 11, 2015 12:11 PM Flag

    "So many moves and counter moves possible here,,,,,,,,,,,,,,,"

    A vague comment, I must admit.

    I was looking beyond the evident, ongoing reevaluation of currencies.

    Regardless, I am in agreement with the content of your response.

  • robey743 robey743 Aug 11, 2015 11:03 AM Flag

    The yuan devaluation may explain the US commercial banks' recent gains in short positions on the USD.

    Regardless, IMO, China's action on their currency will demand a similar action on the USD.

    So many moves and counter moves possible here,,,,,,,,,,,,,,,

  • Google:
    US appeals court rebuffs NY judge in Argentine debt dispute
    (Yahoo Finance Section)

    BUENOS AIRES, Argentina (AP) -- A U.S. appeals court has ruled that a New York judge went too far in a recent decision favoring a second group of holdout investors in a longstanding debt dispute with Argentina.

    The 2nd U.S. Circuit Court of Appeals said Monday that U.S. District Judge Thomas Griesa should not have ruled in June that Argentina needed to pay $5.4 billion to the so-called me-too debt holders before paying its majority creditors.

    The court ordered Griesa to limit his scope to the group of hedge funds that initially sued Argentina after refusing to accept bond swaps.

    The dispute has its roots in Argentina's $100 billion default in 2001. Griesa has repeatedly ruled that Argentina can't make payments on its debt without paying $1.3 billion to the holdout funds.

  • Reply to

    Great market day so far

    by jazenevd Aug 10, 2015 10:25 AM
    robey743 robey743 Aug 10, 2015 2:52 PM Flag

    Looks like you and califmale05 are going to need some luck. First you find out your trust in the commercials has been betrayed; they are shorting the dollar and now,,, they are buying gold, (after downplaying its value to clients).

    The 'Big Long' - Goldman Sachs And HSBC Buy 7.1 Tons Of Physical Gold

    On August 6, 2015, Goldman Sachs, which has issued very bearish forecasts on long-term gold prices, took delivery of a 3.2-ton purchase of physical gold.

    On August 6, 2015, HSBC which also claims to be bearish, took delivery of a 3.9-ton purchase of physical gold. In both cases, the purchases are registered as being for the benefit of the bank's own house account, rather than the accounts of customers.

    Investors should do as the banks do, not as they say.

  • Two current points of view on gold’s value:

    1 – USA media talking heads and purportedly `unbiased)?) expert analysts’ have been and are currently downplaying the value of gold; in fact they recommend selling gold*. They, (USA media talking heads and unbiased(?) expert analysts) have likened gold to pet rocks and stopped just short of urging investors, as an alternative, to invest in butterfly nets, to capture the numerous clouds of flatulence that are hovering over the markets.
    2 – China**, India, Russia, Indonesia, etc., etc. (representing 3+ billion population – outnumbering USA by 10 to 1) have a positive perspective regarding gold.

    *US Fed, is not dumping their gold – It has been suggested, recently, that the US Fed may be supplying gold to Comex, to make up their shortage in gold, (gold demanded by and relinquished to contract holders).

    **IMO the 4 tonnes of gold recently sold in Chinese markets was not due to loss of faith in gold’s value. It was sold because it maintained its value during the recent and still present sell-off in the Chinese markets – Gold was sold to cover margin call demands, after over-inflated investments lost support.

  • Reply to

    COT Report

    by robey743 Aug 7, 2015 9:24 PM
    robey743 robey743 Aug 8, 2015 1:39 PM Flag

    Apparently my posting of the COT Report (Commitment of Traders) on the US Dollar Index is not appreciated by some here.
    My apologies, if I have inadvertently distracted readers from the “Oil Contest Update.”

  • robey743 by robey743 Aug 7, 2015 9:24 PM Flag

    COT Report - August 7, 2015
    US Dollar Index COT Report – Futures
    Long - 10,143 – Gain of 545 over last week*
    Short - 89,349 – Gain of 5,188 over last week*

    *COT Report – July 31, 2015
    US Dollar Index COT Report – Futures
    Long – 9,598
    Short – 84,161

  • Reply to

    Rubicon's prospects

    by davenickg Jul 31, 2015 12:02 PM
    robey743 robey743 Aug 3, 2015 1:05 PM Flag

    It’s worth noting, a number of posters have ridiculed RBY management for not being more forthright with information regarding grade, mine construction, mine production, etc.

    On the other hand, if management had revealed more, if grade does exceed 8 gpt, chances are there would be no RBY; RBY would have been bought out, (at a price lower than fair value).

  • Reply to

    Chinese Imports

    by pioneerrubi Aug 3, 2015 10:13 AM
    robey743 robey743 Aug 3, 2015 12:49 PM Flag

    Meanwhile,,, according to Mr. Organ’s latest, (and this can be verified) we have approx. 28 tonnes of gold standing for August with approx. 10 tonnes of registered gold, in the Comex, for delivery.

  • Reply to

    USD/Gold Question

    by robey743 Aug 2, 2015 2:16 PM
    robey743 robey743 Aug 3, 2015 10:29 AM Flag

    That 1 unnamed expert you cite is outnumbered approx. 9 to 1

  • COT Report – July 31, 2015
    US Dollar Index COT Report – Futures
    Long – 9,598
    Short – 84,161

    My question is; does the current Commercial position in USD Futures indicate the USD is about to experience a DROP in value?

    IMO a drop in USD value would demand a RISE in gold and silver spot prices.

  • Reply to

    Scioli..perhaps Argentina's next leader

    by rxbond Jul 26, 2015 12:50 AM
    robey743 robey743 Jul 27, 2015 4:56 PM Flag

    Hi Rxbond,

    Google headline below; one of numerous articles regarding candidates running for president and their acknowledgement that restraints need to be removed from mining industry.

    Argentina's presidential election holds keys to $5-billion in mine projects

    Excerpt from article
    Martin Dedeu, president of the Argentine Mining Chamber believes the next president will reduce mining taxes as well as steadily lowering currency controls, including a ban on dividends going offshore.

    “The three leading candidates are convinced about the importance of the industry,” said Dedeu. “Daniel Scioli has said mining should be an engine for the economy, Mauricio Macri has been consistent in his support and Sergio Massa has said the sector deserves attention.”

  • Reply to

    Information about "Argentinean cash call"

    by jazenevd Jul 26, 2015 4:55 PM
    robey743 robey743 Jul 27, 2015 12:42 AM Flag

    "San Jose is losing money now."

    Try to stay up to date with MUX progress. For starts, read the following.

    McEwen Mining Q2 2015 Production Results – 7-15-2015

    While the production costs they show are higher than the present PM prices; the increased production and higher grade more than make up the difference.

  • Reply to

    Something new

    by jazenevd Jul 25, 2015 7:38 PM
    robey743 robey743 Jul 27, 2015 12:26 AM Flag

    Trust Credit Suisse? Google the line below

    Credit Suisse: current unresolved lawsuits

0.865+0.145(+20.12%)Aug 28 4:04 PMEDT