A2A with John Embry

106

On Wednesday, the legendary John Embry joined us for a webinar that was full of insight and wisdom. You should be sure to listen to this recorded copy of the audio.

Among the topics discussed over the course of this call:

  • the current level of sentiment in the precious metals space and how this compares to past bull markets
  • the recent visit to Ft Knox by SecTreas Mnuchin
  • possible future confiscation of retirement assets to fund government spending
  • John's favorite gold and silver miners
  • the idea of an official revaulation of the US' gold reserves
  • and a whole lot more!

Again, please make the time to give this podcast a thorough listen. You won't be disappointed!

TF

  106 Comments

braincramps
Sep 7, 2017 - 2:28pm

Gold

If you're not the lead sled dog.... the scenery never changes ;)


Sep 7, 2017 - 2:29pm

Same old G-3 magic

Do you recall this 1-minute chart that we caught earlier? It shows the same, old G-3 pattern of finding a bottom, putting in a double bottom and then moving forward at a 45-degree angle.

Now check the current 5-minute chart that shows an extension of the rally...now at more than 60 pips!!...from the manufactured low.

4 oz
Sep 7, 2017 - 2:35pm

; ^ )

Could listen to this guy all day....and John Embry is a delight too!

;^)


Sep 7, 2017 - 2:50pm
brolgaboy
Sep 7, 2017 - 2:52pm

Glencore

wow look at that rip higher

Jihk2431
Sep 7, 2017 - 2:53pm

Embry is one of my favorites - his kids are lucky

Can you imagine having him as a father? What a wise man he is and very generous with his time. Thank you John!


Sep 7, 2017 - 2:53pm
el_duderino7885
Sep 7, 2017 - 3:09pm

Turd - gold breaking out vs. JPY!

Turd I see the correlation is still strong.

However have you seen the long term gold priced in Yen chart? It's now broken out of its long term pennant and above its 2016 highs.

If this trend continues it's going to break out against the Yen and the correlation will be over. Worth watching the gold priced in Yen very closely over the next 3 - 6 months!

Gold rising vs. all currency's will be the final signal that the shackles are off so to speak. Gold will be the last safe haven standing.

Poundwize
Sep 7, 2017 - 3:16pm

Tulip Mania

There is a movie out now called Tulip Fever. It's a 17th century love story placed in the middle of the Amsterdam tulip mania.

https://www.amctheatres.com/movies/tulip-fever-50883?videoId=5543728650001

happycamper515
Sep 7, 2017 - 3:27pm

Nork ICBM test could happen tomorrow (9/9 Nork time)

Nothing we can do about it so if it happens and gives the PMs another jolt higher so be it.

Joseph Warren
Sep 7, 2017 - 3:27pm

Re: Tulip Fever movie

Can you buy tickets with bitcoin ? cheeky


Sep 7, 2017 - 3:28pm

Regarding the pending Nork

Regarding the pending Nork launch for Sept 9 am Nork time...

el_duderino7885
Sep 7, 2017 - 3:29pm

well, fwiw....

USDJPY still 108.50 and 40 pips above its earlier lows yet CDG AMD CDS BACK TO THEIR DAILY HIGHS AS I TYPE!

bently
Sep 7, 2017 - 3:44pm

The All Powerful Cartel

Watching their losses grow...

Joseph Warren
Sep 7, 2017 - 3:54pm
scoremore
Sep 7, 2017 - 3:55pm
happycamper515
Sep 7, 2017 - 3:58pm

re: The All Powerful Cartel

Pay back is a bitch and everyone gets what they deserve in the end.

AIJ Joseph Warren
Sep 7, 2017 - 4:22pm

JW

"Can you buy tickets with bitcoin ?"

I don't know but currently you can buy 3.41 Ounces of Gold per One Bitcoin

image of bitcoin - Bitcoin network sketch with a large bitcoin sign inside an HUD in front of a world map - JPG

...and 255 ounces of Silver....

bently
Sep 7, 2017 - 4:39pm

AIG

"You can buy 3.41 ounces of gold per one bitcoin....and 255 ounces of silver."

You're making the case for selling bitcoins to buy PMs....and it appears some have started to do.


Sep 7, 2017 - 4:50pm

Updated GDX chart

A close tomorrow north of $25.71 and then $25.93 would be very, very encouraging.

StevenBHorse
Sep 7, 2017 - 4:55pm

Close

Above $1349.70 was crucial today.

Ronnie 666
Sep 7, 2017 - 5:34pm

Kirkland Lake

I know it's in Victoria not WA but clearly these Australian States are all bankrupt. Both Victoria and WA have spendthrift Labor governments. If WA hikes gold miners taxes I am sure Victoria can do the same.

https://www.theaustralian.com.au/business/mining-energy/gold-miners-to-t...

Markedtofuture
Sep 7, 2017 - 5:54pm

Equifax reports cybersecurity incident may impact 143M customers

Equifax, a consumer credit reporting agency, has reported a cybersecurity incident that may affect approximately 143 million U.S. customers.

In a statement Thursday, the company said "criminals exploited a U.S. website application vulnerability to gain access to certain files. Based on the company's investigation, the unauthorized access occurred from mid-May through July 2017. The company has found no evidence of unauthorized activity on Equifax's core consumer or commercial credit reporting databases."

The information accessed includes names, Social Security numbers, birth dates, addresses and, in some instances, driver's license numbers. In addition, credit card numbers for approximately 209,000 U.S. consumers, and certain dispute documents with personal identifying information for approximately 182,000 U.S. consumers, were accessed.

The Atlanta-based Equifax says the unauthorized access was discovered on July 29th and they acted immediately to stop the intrusion.

https://abc30.com/equifax-reports-cybersecurity-incident-143m-possibly-affected/2388575/

kaiserwongze
Sep 7, 2017 - 6:04pm

Margin Increase

Just a note - CME has increased the margins for the CDG contract from $4250 per contract to $4500.

It's still a super low margin req overall.

chocolatechiphorses
Sep 7, 2017 - 6:16pm

Oh My Not Good

Barbuda "Totally Demolished" After Hurricane Irma Levels 90% Of All Dwellings

Having mauled the Caribbean island of St. Martin overnight, where this morning the French government said that the four "most solid" buildings have been destroyed, Hurricane Irma - now at 185mps for a record 33 straight hours - has just passed north of Puerto Rico, buffeting the US island territory’s capital, San Juan, with heavy downpours and strong winds that scattered tree limbs across roadways, but not before totally demolishing” the island of Barbuda, with 90% of all dwellings leveled, Prime Minister Gaston Browne said.

https://www.zerohedge.com/news/2017-09-06/barbuda-totally-demolished-aft...

Markedtofuture
Sep 7, 2017 - 7:00pm

Clinton Cash: Dina Powell Partnered with Clinton Foundation

for Goldman Sachs Globalist Initiative

NEW YORK — When she served as president of the Goldman Sachs Foundation, the philanthropic arm of the Wall Street giant, White House Deputy National Security Adviser Dina Habib Powell repeatedly partnered with the Clinton Global Initiative for a globalist women’s project that served as the centerpiece of Goldman’s charitable foundation.

Besides partnership with CGI, Powell’s foundation also directly funded the Clinton Foundation and partnered with Hillary Clinton’s State Department. Powell herself was associated with numerous groups and projects linked to the Clintons.

Powell served as president of the Goldman Sachs Foundation, where she ran the foundation’s projects after Goldman Sachs was implicated in the 2007-2008 financial crisis and sought to resurrect its shattered image.

The Clinton Global Initiative (CGI) was founded by Bill Clinton in 2005 as a part of the controversial Clinton Foundation. CGI was co-founded by Doug Band, co-founder and president of Teneo Holdings. Powell’s now ex-husband, Richard C. Powell, is president of Teneo Strategy, an arm of Band’s Teneo Holdings.

Powell, an Egyptian-American, reportedly received a salary of $2 million per year from Goldman Sachs. Her financial disclosure form from this year reveals salary, benefits, cash bonuses and equity from Goldman Sachs totaling $6,128,950.

https://www.breitbart.com/big-government/2017/09/07/clinton-cash-dina-po...

Maestro
Sep 7, 2017 - 7:11pm

Gold Corp....Undervalued Major

Courtesy Online news

Gold is extending its rally to levels not seen in nearly a year, and investors are wondering if this is the right time to buy gold stocks.

Let’s take a look at Goldcorp Inc. (TSX:G)(NYSE:GG) to see if some big gains could be on the way.

Oversold?

Goldcorp used to be the go-to name for investors who wanted to add a miner to their portfolios, but the company ran into some operational issues in recent years and fell out of favour with the market.

Management has done a good job in its efforts to turn things around, and investors might not be appreciating the progress.

The company reported Q2 2017 net earnings of US$0.16 per share compared to $0.09 per share in the same period last year.

Gold production rose to 635,000 ounces at all-in sustaining costs (AISC) of US$800 per ounce, which was a big improvement over the 613,000 ounces produces at AISC of US$1,067 in Q2 2016.

In addition, Goldcorp expects production and resources to increase by 20% over the next five years, while AISC should drop 20% over the same time frame.

Goldcorp has added strategic assets through acquisitions and joint-venture partnerships, including the $1 billion purchase of a 50% stake in the Cerro Casale gold and copper project in Chile, which gives Goldcorp an interest in one of the world’s largest undeveloped gold projects.

Gold outlook

tfever Markedtofuture
Sep 7, 2017 - 7:12pm

Reply for Markedtofuture

Hurricane+Credit+CME Doom event for this yr. 9/11

matt_
Sep 7, 2017 - 8:38pm

My movie pitch. Any producers willing to fund me?

Here is the executive summary. It's called "Tulip Fever 2.0: Hard Fork":

Set in 21st century Indianapolis, a married woman (Jennifer Love Hewitt) begins a passionate love affair with an IT professional (Dylan McDermott) who has been hired by her husband (Ed Begley Jr.) to remove ransomware. The lovers, scheming to run away together, gamble on the mining of cryptocurrencies as a way to raise money. But, will it be their happily ever after?

I'm still working on the final version of the script. I'm also mulling an alternate title: "Tulip Fever 2.0: Money Never Sleeps". It is timely, and I've got a great idea for PR and funding....wait for it....The first Initial Coin Offering for a movie-themed cryptocurrency. I'm sure I can get Regal and AMC on board. My head is spinning with the possibilities.

canary
Sep 7, 2017 - 8:47pm

If there is yuan/gold correlation...it can change...

Or not be best for gold...Here's Chuck Butler's take on Chinese currency appreciation:

"What’s going on with the renminbi? Why is seeing appreciations at each fixing these days? Well, first of all, the capital flows out of China have subsided, and come to a small amount each day, which means you don’t have tons of sell orders of the renminbi each day. And then there’s this… China loves to use the renminbi as a political tool, and right now with all the talk about tariffs on Chinese exports, I think, and here I go again with the Chuck thoughts, but I think that China is pushing the value of the renminbi stronger, so that when the U.S. announces the tariffs, China can devalue the renminbi as a statement of protest but in the end, the renminbi would be just right back to where it was when the appreciations began. Far fetched? We’ll have to wait-n-see, eh?"

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