A2A with "SRSrocco" Steve St. Angelo

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A tremendous and timely A2A today with Steve St. Angelo, better known as SRSrocco. As an independent energy, metals and mining analyst, Steve brought a lot of wisdom and knowledge to the call. Please be sure to give it a listen.

Over the course of this 58-minute presentation, Steve addresses a number of topics, including:

In the end, I felt like this had been a really good call and an excellent use of time. Please give a listen. I'm confident you'll feel the same.

TF

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CPE
Jul 17, 2015 - 6:41pm

@G-Rod

3 excellent comments! H/t!!

G-Rod
Jul 17, 2015 - 6:33pm

Chinese Gold Holdings - Remember that

The PBoC does not buy it's gold from the SGE.

All the SGE Gold (approx 2000 tonnes per year) is going into private hands in China.

I personally think that the PBoC has much more gold then they report, and that it makes sense for them to make reports in small incremental amounts rather than in a single big hit.

If I am right, then we will see more reports like this one over this year where they steadily increase the numbers so as not to shock the market, as they prepare to get a seat at the IMF SDR table.

(Noting that their long term strategy would be co-option of the IMF and/or it's replacement with a BRICS institution parallel to the AIIB)

Right now they want a low price to accumulate more, and they have no benefit in seeing the price higher. A high price will come later, when the west has no more readily available gold to ship, and the USD is tumbling in price.

G-Rod
Jul 17, 2015 - 6:23pm

OK...

So Gold is down $10 bucks, and Silver is down 20 cents.

That's an opportunity to buy more.

We have a big cultural factor in play in the west that something is only valuable if the price is high, and that it is definitely not valuable if the price is low.

That view ignores the impact of time.

Now is a great time to buy Gold & Silver. I'm holding a CASH equivalent (BEAR) in my portfolio that I can use to buy more ASX Gold Miners, or more Physical Silver when the time is right. Right now I'm willing to wait. There may be a true spike in the value of the USD, that will crush the commodities prices and the ASX will drop (BEAR goes up), then as the USD hit's it's blow off top, and commodities (Oil, Iron, Coal, Nickle, etc) are in the toilet - and Gold and Silver dragged/pushed down with them. will be the time to buy with both hands. If there is no silver to buy at that time, I will buy Australian miners.

Personally I think that will happen this year.

However with the AUD dropping in value vs the USD, the impact of this Gold/Silver price drop is muted on the Australian miners.

The ones that I hold have all had strong recoveries since December 2014, so currently less opportunity to buy more at a bargain.

The US miners are another story all together. Tied to the USD, they are being crushed on a wheel of pain. In terms of Gold sector impacts, this Gold price is having variable impacts on miners around the world depending on the strength of the local currency.

G-Rod
Jul 17, 2015 - 6:09pm

Who's the linebacker...

... next to the President?

And why is he wearing a dress?

AlienEyes
Jul 17, 2015 - 5:07pm

@ Swineflogger

LOL !

To quote Richard Prior, "Ass for days."

benque
Jul 17, 2015 - 4:41pm

Wow!

Thats a lot of booooo-teeee there. Sure am glad its not a video.

Swineflogger
Jul 17, 2015 - 4:38pm
Swineflogger
Jul 17, 2015 - 4:29pm

Visit the FAQ page to learn how to track your last read comment, add images, embed videos, tweets, and animated gifs, and more.

AlienEyes
Jul 17, 2015 - 4:07pm

Thoughts....

Yellen the felon : Siss on you pister. You ain't so mucken futch anyway.

China : If you think the majority of mainland Chinese don't still look at westerners as big nose "foreign devils" you need a lobotomy. After all, you have nothing to lose.

Joe Biden : See how much good a lobotomy can do? People use to think he was a mindless d!ckhead. Now he's a political comedian.

O'Bummer : It's true that the commie muzzie is a half assed, half-breed, half wit BUT he is still smarter than the 50+% of the brain dead Americans and illegal Mexicans that voted for him....twice.

Pity the poor jews : Eighty percent of them voted for O'Bozo, twice. Now they hate him because he's a muslim and screwed the jews including the Israelis royally. The dumb sh!ts hate the USA and the goy so much that they forgot where they live. When they all end up in a shower (again), they will be howling that they didn't do anything wrong (again). May God help the 20% that aren't criminally insane.

el Presidente Marxist mofo : There is a growing sentiment that he should be hanged for high treason. I am dead set against this view. Instead, I think he should be dipped in sh!t, set on fire and be buried face down in a sanitary landfill with a stake driven through his heart. Did I mention that I don't like the s.o.b. very much ?

Don't worry about me landing on his hit list. I've been on it ever since I called his wife a no class flatfooted Sasquatch.

Damn! I forgot to take a Xanax.

"You won't give a damn with alprazolam."

Underdawg
Jul 17, 2015 - 12:14pm

Silver Eagle sales

Evidently not only silver eagle sales halted temporarily, but I had purchased a new issue 5 oz Blue Ridge ATB that was pre-orderd that were expected to be at the dealers store by Jun 30 and then delivered to me by Jul 7, still no coin.

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