Moving Forward with Marin Katusa


Late Friday, I had the opportunity to visit again with Marin Katusa, founder of Katusa Research and author of the best-selling book, "The Colder War". After the sharp correction in both the metals and miners, I think you'll find this podcast to be of great value.

With the HUI index down more than 30% from its August highs and the metals falling sharply last week, I jumped at the opportunity to visit with Marin again. Over the course of this call, we discuss:

  • the reasons and forces behind this recent correction
  • Marin's feelings about the mining sector as a whole after the pullback
  • why he still considers Brazil Resources to be his top pick in the sector
  • the current, dangerous status of The New Cold War between the US and Russia

As we await the re-opening of the "markets" in a few hours, I think you'll find this podcast to be an excellent use of your time.



Dyna mo hum
Oct 9, 2016 - 11:13am


The early bird gets the worm...

Oct 9, 2016 - 11:23am

Smart man. good perspective.

Smart man, good perspective, he will not end up in the soup.

Oct 9, 2016 - 11:34am

Sunday thurd


Come on Marchas where are you and that cuppa to slide in below?

BLACKKITE cashonly
Oct 9, 2016 - 11:50am


cmon marchas!

Oct 9, 2016 - 12:22pm

Here but

Late. Keep Stacking

Oct 9, 2016 - 12:24pm

Lucky 7 - lov'in BRIZF

This stock has been keeping me above water during this last smash - Thanks Marin!

Now time to listen.

Oct 9, 2016 - 1:57pm

Thanks turd

Another great interview to listen to!

Oct 9, 2016 - 2:17pm

The truth on Syria, Russia, and the USA.


Financial Intelligence Report

The Newsletter for people willing to take control of their financial future

October 9 , 2016


Greetings Friends!

This is today's issue of the Financial Intelligence Report

Contributing Editors: Bob Rinear

Wall Street Lunacy donated by Janet Yellen, and Central Bankers the world over!


Part 1: General Commentary


The Syrian Deception.

A few issues back I mentioned that there were "fake" news style web sites being set up all over the place putting out "false" news. They look legit, they have buttons that work, but in fact they are nothing more than web sites designed to push the owner's particular view on things. Thus they aren't "news" sites as much as personal blogs.

Most of them are leftist leaning, but there's a wave of conservative leaning one's out there too. Such is the case with It says it's part of a big NY radio station, but if you look hard enough, it's really part of Hal Turner's operations. However, sometimes these alternative "news" sites post something very legit.

It's sort of interesting. As news evolves I talk about it. But because it comes in bits and pieces, many people aren't able to take the info and gel it into a cohesive "start to finish" story. Well I found the following article on superstation95, and while it isn't "spot on" it is very very close in so many ways that I'm going to post it. The idea behind the article is "why are 40 million Russians going through disaster prep?" It's a good Question.

How This Developed

The US wants Syrian President Bashar Assad out of power because Assad refused to allow QATAR to run a natural gas pipeline from its northern gas field, through various countries, including Syria, so as to supply natural gas to Europe. The US and Europe want this gas pipeline so as to lessen European reliance upon Russian-supplied natural gas. By lessening Europe's reliance upon Russia, the west thereby lessens Russia's power over Europe.

When QATAR first proposed this pipeline, it won approval from all the governments along the proposed route - except Syria. Since Syria has always been a Russian ally, Syrian President Assad realized that this pipeline would harm his Russian ally, and so he refused permission to have it travel through his country.

This refusal did not sit well with QATAR or its Sunni-Islam allies, like Saudi Arabia. Especially since, at the same time, Iran, which is Shi'ite Muslim and thus an enemy of Sunni Muslim countries, was proposing a gas pipeline of its own to Europe, via a slightly different route.

Shortly after Assad refused, there was a vast media blitz about him being a "ruthless dictator" who "abused his people" and . . . . all the same rhetoric the world heard about Saddam Hussein, Muammar Quadafi and the like.

Shortly after the media assault, QATAR, SAUDI ARABIA, BAHRAIN and their pals, decided to begin funding "freedom fighters" and "moderate rebels" to "liberate" Syria from its democratically-elected President, Assad. Thus began the so-called Syrian Civil War. It was not a civil war, it was groups of mercenaries, hired and paid by Qatar, Saudi Arabia and the rest, to oust Assad so as to get their pipeline run.

Their motivation was not simply earning profits from the gas pipeline, they also wanted to make certain that their arch-rival, Iran, could not run a pipeline and thus get access to vast monies from expanded sales.

Fighting Breaks Out in Syria

Fighting broke out inside Syria and things did not go well for the Syrian government. As the fighting grew worse, Assad realized he was going to lose, so he traveled to Moscow to ask his ally, Russia, for help. Russia agreed and sent troops, planes and war fighting equipment to Syria.

The Russians not only tipped the balance in favor of Syria, they uncovered the fact that the terror groups ISIS and Al-Nusra Front (a.k.a. Al-Qaida), were actively profiting from stealing oil from Syria and from northern Iraq, transporting that stolen oil into Turkey, where it was being slightly processed, re-packaged, and SOLD! The Russians proved that this oil theft and smuggling, with the cooperation of Turkey, was earning ISIS about $100 MILLION a month in profits to fund the terror group!

In order to stop ISIS terrorists, Russia began bombing the convoys carrying the stolen oil. This immediately put a crimp in the amount of stolen oil being smuggled into Turkey, thus impacting the clandestine profits of certain Turkish government officials. Turkey asked Russia to stop bombing the oil convoys. Russia refused.

Shortly thereafter, a Russian plane was shot down by Turkey, which claimed the Russian aircraft had violated its airspace. That claim was a lie. Turkey shot the plane down to send a message to Russia to stop screwing around with the oil smuggling. The message did not work.

Instead of halting the attacks, Russia publicly released video showing miles-long convoys of oil trucks, streaming-into Turkey almost 24 hours a day, with stolen oil smuggled from Syria and Iraq! These smugglers are in so tight with the Turkish government, they didn't even have to stop at border checkpoints; they got waved-through by border guards. This made clear who it was inside Turkey, profiting from the smuggled oil: Turkish President Recypt Erdogan . . . the same man who ordered the Russian plane shot down.

Russia then imposed a travel ban on Russians visiting Turkey, and imposed economic sanctions on Turkey, which seriously damaged Turkey's economy.

As the months of fighting in Syria continued, the Russians enjoyed success after success in stopping both the terror groups AND the rebels trying to overthrow Assad.

This did not sit well with the US, which was aiding the "rebels" in the effort to overthrow Assad. It also didn't help the US that the media was full of stories about Russian successes, and this got people asking why Russia was having so much success, when Americans had been in Syria for over a year prior, and did not make ANY progress against the terrorists?

The uncomfortable truth emerged just weeks ago, when it became undeniably clear that the ISIS and Al-Qaida terrorists ARE the "moderate rebels" being helped by the U.S.

As Russian military action continued to crush the terrorists and rebels, the US proposed working with the Russians; a gesture welcomed by Russia.

But the Russians quickly came to realize that the US was being deliberately dishonest. They didn't want to help at all, what the US wanted to do was limit the strikes against its "moderate rebels" hoping to sneakily continue to overthrow Assad.

When Russia realized that the US was being dishonest, it went about doing what needed to be done to continue protecting its ally.

So what did the US do? It had coalition aircraft attack the Syrian Army, killing 62 and wounding 100.

Making matters worse, just seven minutes after the coalition aircraft attacked, well-organized elements of ISIS and Al-Qaida, launched a ground assault against the very same Syrian Army location. Syria claims to have audio recordings of the Coalition pilots coordinating with the ISIS terrorists by radio just before coalition aircraft attacked the Syrian army. The Pentagon says this claim is "false and ludicrous."

Shortly after the attack, the US claimed "it was a mistake" and said they would investigate and explain to Russia and Syria. So the Russians and Syrians called for -- and got -- an emergency meeting of the UN Security Council in New York. Instead of explaining what happened, US Ambassador Samantha Powers, WALKED OUT of the meeting! There was not going to be any explanation.

Afterwards, the Russian Defense Ministry publicly stated "We have come to the terrifying conclusion for the world, that the US is actually supporting the ISIS Terrorists."

With no explanation from the US, Russia then attacked a long-established and well-known Terrorist Operations Center. A Russian ship operating off the coast of Syria, launched three Kaliber missiles which scored direct hits on this operations center.

When the dust cleared, among the dead terrorists were three dozen uniformed military officers . . . from the United States, Israel and Turkey! What were dozens of uniformed officers from the US, Israel and Turkey doing inside a terrorist operations center? Well . . . they were doing exactly what Russia said: Supporting terrorists!

Shortly thereafter, Syria's largest city, Aleppo, which has been under ISIS control for over a year, came under attack by elements of the Syrian Army, intent to reclaim their city. The attacks were remarkably successful, thanks in large part to air support from Russia. The success of operations in Aleppo, sent the US off the deep-end; they were witnessing what could very well be, the complete failure of their efforts to oust Assad. So the US told Russia that unless Russia stopped bombing Aleppo, the US would cut-off cooperation.

The Russians, seeing that US "cooperation" was nothing but lies coming from dishonest (and dishonorable) US military commanders who were operating for a dishonest (and dishonorable) US government, was worthless. The Russians refused to cease operations in Aleppo.

Yesterday, as threatened, the US cut-off Diplomatic cooperation with Russia inside Syria and is now allegedly planning an outright military attack to achieve its goal of ousting Syrian President Assad.

Russia, seeing what the US is planning, has now moved its feared S-300v4 surface-to-air missile defense system into Syria. Once this system locks onto an aircraft, there is no defense. The aircraft is dead and there's no way to outrun, out-maneuver, or fool the system. This means that Russia can, at any time, ground all US aircraft operating in Syria simply by turning-on the S-300v4 system.

Remember, Russia was asked to help Syria and has permission from the Syrian government to be in that country. The US did not ask permission and does not have it. The US also does not have a declaration of war by Congress, or an authorization for the use of military force from Congress, or a UN Security Council resolution to be in Syria.

Other Issues Driving us toward war

While all this was taking place, NATO was expanding eastward along Russia's borders. This violated a promise made by then-Secretary of State James Baker, who promised after the Soviet Union dissolved, that "NATO will not move one inch eastward." Since Baker's promise, NATO has added the Baltic States of Lithuania, Latvia and Estonia to its membership.

In an effort to increase NATO presence around Russia, the US spent $5 Billion to foment to violent overthrow of the duly-elected President of Ukraine, so as to install a puppet government favorable to the West. This was discovered when Assistant Secretary of State Gloria Nuland got caught using an unsecured phone to call the State department. It was during this call - which was intercepted by Russian Intelligence - that Nuland notoriously said "Fuck Europe" when told the Europeans had concerns about what the US was doing in Ukraine. That phone call was made public by Russia, thus proving the US/NATO did foment the overthrow and lied about it.

Most recently, Poland and Romania became home to a US Missile Defense systems, designed to shoot missiles out of the sky. Russia says these systems are designed to prevent Russia from firing back if it is fired upon, making them a "sitting duck" for a US/NATO first-strike, and they strongly warned NATO not to activate the systems in Poland and Romania.

NATO said the Russian fears are nonsense, the systems are there to protect against launches from Iran. There's just one minor problem: all the radar stations connected to this missile defense system are aimed east / northeast at Russia instead of south/ southeast at Iran. So again, the US/NATO lied, again. And got caught, again.

Russia made clear that if those missile defense systems went active in Romania and Poland, Russia would take action. The systems went active two weeks ago.

If you were the Russians, and you saw lie after lie, and the encroachment of foreign military forces all around your nation, and the activation of a system which would render your defenses useless, what would you do?

Bob here... That's a pretty good summary of all the facts that I've brought you over the last couple years. I could add many more, but Obviously to lay it out any more, we'd need a book. But at least you get the rough idea of where things are, and why Syria is so very dangerous. We are one downed jet, one tactical nuke from a war with a nation that we shouldn't be at war with. The media attacks Putin, Hillary attacks Putin, they blame all the DNC hacks on Putin. That's carpet bombing the people to believe "US good/Russia bad" in support of war. This is a very dangerous time folks. Pray for calmer heads.

Oct 9, 2016 - 2:38pm

Top Ten?

Yes, for what it's worth.

Just waiting to see what the China open later today brings . . .

ChaCha Mars
Oct 9, 2016 - 2:48pm

9th - Peace *in our hearts* in our time

Ten percent of US homes are powered by Russian nuclear? News to me, and thank you for that, Craig.

Given that nobody knows the future, I favor Joe Farrell's prediction that the .001% in charge of everything will meet with their comeuppance as Russia doesn't want war any more than the rest of us.

It's a beautiful blue sky day here and in a few minutes will take the grandbabies for a ride in the golf cart with a heart full of gratitude that they still enjoy simple pleasures.

John 14:27 - Peace I leave with you, my peace I give unto you: not as the world giveth, give I unto you. Let not your heart be troubled, neither let it be afraid.

ChaCha Mars
Oct 9, 2016 - 2:55pm
Oct 9, 2016 - 3:06pm


The fact is, [lik eth elast few years, when prices collapsed], China is closed for the week.

ChaCha Mars
Oct 9, 2016 - 3:15pm

Song for today: "For All That"

Here's Ed Miller singing Robert Burns' For All That* at Kennedy Center: <iframe width="640" height="360" src=""" target="_blank" rel="nofollow">" frameborder="0" allowfullscreen></iframe>

Miller points out Burns had to write it anonymously given the tenor of those times three centuries ago -- but have they changed much? When Sheena Wellington sang it at the reopening of the Scottish Parliament in 1999, the MPs remained seated throughout, presumably in deference to the Queen in their midst. Good for Sheena for standing!\\

Is there for honest Poverty

That hings his head, an' a' that;

The coward slave-we pass him by,

We dare be poor for a' that!

For a' that, an' a' that.

Our toils obscure an' a' that,

The rank is but the guinea's stamp,

The Man's the gowd for a' that.

What though on hamely fare we dine,

Wear hodden grey, an' a that;

Gie fools their silks, and knaves their wine;

A Man's a Man for a' that:

For a' that, and a' that,

Their tinsel show, an' a' that;

The honest man, tho' e'er sae poor,

Is king o' men for a' that.

Ye see yon birkie, ca'd a lord,

Wha struts, an' stares, an' a' that;

Tho' hundreds worship at his word,

He's but a coof for a' that:

For a' that, an' a' that,

His ribband, star, an' a' that:

The man o' independent mind

He looks an' laughs at a' that.

A prince can mak a belted knight,

A marquis, duke, an' a' that;

But an honest man's abon his might,

Gude faith, he maunna fa' that!

For a' that, an' a' that,

Their dignities an' a' that;

The pith o' sense, an' pride o' worth,

Are higher rank than a' that.

Then let us pray that come it may,

(As come it will for a' that,)

That Sense and Worth, o'er a' the earth,

Shall bear the gree, an' a' that.

For a' that, an' a' that,

It's coming yet for a' that,

That Man to Man, the world o'er,

Shall brothers be for a' that.

James Crighton ChaCha Mars
Oct 9, 2016 - 3:15pm

Thank you Cha Cha - 2:53pm post - for 'a that

Pathetic, is it not. The politicians in the UK, almost to a man / woman - are beholden to the "elite" - Jeremy Corbyn being a notable exception (explaining why the MSM here abhor him and make their feelings known in biased reporting). We, the people, are "subjects" - and most of us, sadly, are happy to remain in that state. Sheeple.

Nevertheless, we are encouraged by Samuel Adams' words: "It does not take a majority to prevail, but rather an irate, tireless minority keen on setting brushfires of freedom in the minds of men". "Die fighting rather than live on ones knees".

jc (still on the banks - resting - but, eyes open - ever-vigilant for the appearance of a bloated banker floating down the river .............. )

Oct 9, 2016 - 3:37pm

Response to tedc

Excellent summary, thanks for posting. I've been thinking the same things regarding the pipeline issue for some time now, but I have to look really hard to find any mention of it in the media. Here's a solution to the Syrian problem that
I haven't heard from anybody: the U.S. is supposed to be the Saudi Arabia of natural gas. Why not build a couple of LNG facilities on each coast and supply Europe and the Far East with OUR gas? Do we really care about Qatar's gas? It's a free market solution. Then we can pull all of our troops out of the Syrian conflict and avoid a flashpoint that could escalate who knows how far.

One point that was not mentioned: the Russians have a naval base in Syria and the U.S. would be able to deprive them of it if a pro-western puppet could be installed.

Just like to mention that the Russian air defense systems may not be as capable as the author would like us to believe. I suspect the U.S. military probably has some tricks up its sleeve in that area. Think of cheap, small drones that could imitate/spoof the signature of real fighters or bombers (maybe multiple), causing the defender to 1) emit (in the modern air battle, the first to emit betrays radar frequencies or frequency hopping schedules, which can be interfered with and 2) once they emit, their location is revealed, calling down U.S. missiles, also from far away, and 3) expend ordinance without effect, etc. Is this just armchair musing? Perhaps, but if you can imagine it, the U.S. military probably did it ten years ago.

Angry Chef
Oct 9, 2016 - 4:00pm

It's Not About Pipelines....

The pipelines are a big part of it but what is even bigger is what currency the Oil/Gas will be traded in and ultimately who's Banking system the transactions will clear thru. This is why I fear the worst. This Geo-Political situation between NATO/America, Russia, China, Israel, UK, Europe, Turkey, Iran is for all the marbles. It is ultimately the goal of Russia, China, and Iran to trade off the USD and bypass the SWIFT Banking system. This will throw back the Eleech a thousand years. If you think a Political solution is possible under these conditions I'd be more than happy to listen.

Oct 9, 2016 - 4:05pm

Thanks, ty

Was just about to post that, too. Tells you all you need to know. Might be a good idea to remember for next year...

Fred Hayek
Oct 9, 2016 - 4:33pm

Can Deutsche Bank be saved behind the scenes?

In early December there will be a sort of a constitutional referendum vote in Italy. The present prime minister, Renzi, is completely behind it and says he'll resign if it fails. Beppe Grillo's 5 star movement is against it. The EU leviathan wants to see it pass. There are a lot of different aspects to the changes proposed in the referendum, from changing how the Italian senate is chosen, how many senators there are in their parliament, how judges are chosen and the prime minister as well. I don't profess to understand all the implications of it. But critics have said it would concentrate power in the Italian government. Whichever party won the most votes would get many additional seats in parliament thus leaving fewer checks on power.

The EU bureaucracy always likes more concentrated power. (Interestingly, when Aldous Huxley, the author of Brave New World, was asked what we should do to avoid the dystopia he portrayed, one of his answers was to decentralize power as much as possible.)

If the EU bails out Deutsche Bank before the vote in early December after essentially saying no to full bail outs of the biggest Italian banks then the Italian electorate will see it as the EU being rigged against them and this will work against the referendum vote that the EU wants. If more centralized power cannot be trusted then why vote to increasingly centralize power?

But if the EU does not bail out Deutsche Bank and it collapses then I suspect that the resulting crash will be seen as the fault of the status quo and also work against the referendum as the referendum is, to some degree, a vote of trust in giving more power to the status quo.

Can they hold Deutsche Bank together till early December?

Oct 9, 2016 - 4:47pm


Need a 3-peat starting Monday.

Oct 9, 2016 - 4:55pm
Angry Chef
Oct 9, 2016 - 5:19pm
Oct 9, 2016 - 5:28pm


better be right, I got 16.50, 101416 SLV calls

Oct 9, 2016 - 6:01pm

Like the pot hasn't been stirred enough this weekend :0


Oct 9, 2016 - 6:03pm

Marin Katusa - 2 thumbs up

I really enjoy Marin's appearance; I am subscriber to his latest service; 1500 per year

It delivers more than any other one out there; I think (Katusa Research) its more undervalued that BRI

Thanks again to Turd for his outstanding interviews, I listened 2 times

JQuest jackstar
Oct 9, 2016 - 6:27pm

@ jackstar

" the U.S. is supposed to be the Saudi Arabia of natural gas. Why not build a couple of LNG facilities on each coast and supply Europe and the Far East with OUR gas? "

We are building a Hugh LNG facilities in Maryland...

Dominion Cove Point - Construction Update 12/2015

Cove Point Update 122015

Why do you think the US is trying to keep Russia's gas out of Europe? wink

Dr. P. Metals
Oct 9, 2016 - 6:30pm

There seems to be enough

Natural gas/hot air in politicians to power all the nations of the world indefinitely.

Oct 9, 2016 - 7:13pm


The environmentalists in Seattle and Tacoma have fought tooth and nail to keep a huge LNG terminal from going in anywhere near the sound. This fight has been going on at least a decade. This is just another example how we cripple our economy every which way we can. The enviros have also put the kabaash on a terminal aimed at providing China with coal. We are also the Saudi Arabia of coal but they make it almost impossible for miners to operate for either consumption here or abroad.

I for one refuse to believe that with our ever increasing technology we can't find a way to use these resources in a constructive manner. Here in California many if not most small business owners have to try to find away around the red tape and laws that strangle our state. I know many small family business that have closed the last ten years because they don't want to compete against government regulation and selective enforcement of laws and regulations.

Oct 9, 2016 - 7:18pm

LNG Also In Maine

Towns where up in arms because a LNG Terminal was planned for Searsport Maine a couple of years ago. The outcry was enough to spoil that plan. So much for progress. People want propane but just not housed in their neck of the woods. Lol Keep Stacking

Oct 9, 2016 - 7:23pm


Thanks for posting about Cove Point. I hadn't heard about it and I'm very glad to see that we're finally doing something positive about exporting energy. Now let's implement the Pickens Plan. Remember that from just before the 2008 election? Solar in the Southwest, wind in the wind corridor between Texas and the Great Lakes, get the truck fleet on natural gas with attendant job creation in the buildout of NatGas facilities along the interstates, and develop our natural gas reserves while doing research on advanced wind and solar. Good for the economy and good for the environment. Put competent people in charge of allocation of research monies to preclude more Solyndras.

I don't think we should be trying to keep Russian gas out of Europe, we should be about providing an alternative energy source for Europe. Right now, Russia has a monopoly on gas supply to Europe which could be shut off at any time. Similar to the U.S. shutting Iran out of the SWIFT system. The BRICS are developing alternatives to SWIFT and we should be developing alternatives for European energy supply. We should be competing with Russia in matters of trade rather than militarily whenever possible. As I said before, it's a free market solution that benefits us and the Europeans.

Oct 9, 2016 - 7:31pm

Benoit Gilson (BIS) must be shaking.

From GATA...The Bank of England has launched an investigation into the "flash crash" in sterling against the dollar and eoro......And what about the more impressive and frequent gold and silver crashes?surprise

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1/29 10:00 ET Consumer Confidence
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