Discussing De-Dollarization with Da Jackass

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A perceived acceleration toward the end of US dollar hegemony has been a hot topic here at TFMR this week. Thus, we thought it should be the primary topic for our holiday weekend Jim Willie discussion, too.

There's no easy way to summarize this conversation with bullet points. Instead, just notice that we began the call by discussing de-dollarization and then just let it flow from there.

I think you'll find this interesting and informative. Thanks again to The Jackass for so freely sharing his time with us!

TF

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RickshawETF
Sep 4, 2018 - 1:10pm

on Tahoe Resources

I've recommended the IKN Blog for those following the South American miners. Recently:

The Tahoe Resources (TAHO) (THO.to) cyanide spill

Posted: 29 Aug 2018 05:36 PM PDT

"The news this afternoon from Tahoe Resources (TAHO) (THO.to) regarding its La Arena gold mine in the La Libertad region of Peru requires some clarification, it seems:

1) It's obviously an attempt at gold theft, which begs the question about site security. They've been there three years, for crying out loud! Don't they have a single clue about running a gold mine?

2) You'll note that in no place does the word "cyanide" appear in the NR. That's obviously a deliberate decision by the company, but it's what this is all about. They do of course use the term "pregnant solution" and that is correct, but the important thing is to understand what that is. The "pregnant solution" from a heap or dump leach is the liquid that's collected from the pads which has captured the gold. You sprinkle dilute sodium cyanide onto the pad, it picks up the gold, the then pregnant solution runs into collecting ponds and is treated to get the gold out. Bottom line---> This is a cyanide spillage and the cyanide "may have" made its way into the local water supply. Which means it did.

3) And what about the size of the spill? The company says it's "600 cubic metres" and if you put it that way, it sounds modest. In fact that is 600,000 litres. Of highly toxic liquid. In the river. Via the company's very own storm management system. Yummy. For context, the cyanide solution spill at the Barrick Veladero mine that caused the closing of the facility, a near $10m fine and prosecutions of ABX management was 1.1m litres, a little under double the size. This is no small event, ladies and gentlemen."

and this weekend:

Tahoe Resources $TAHO THO.to, cyanide spills and 35,000 dead trout (UPDATED)

Posted: 01 Sep 2018 11:48 AM PDT

"UPDATE: This news story below is apparently only the tip of the iceberg. Since publishing this post, your author has heard from reliable local sources that locals now have no drinking water available and no water for their livestock. People dozens of kilometres downstream from the Tahoe Resources La Arena mine are frightened of even going close to the water courses near their homes. To be honest, I can't blame them."

Libero
Sep 4, 2018 - 11:34am

Tahoe down big - denied Guatemala export license

https://www.reuters.com/article/guatemala-mining/guatemala-court-confirm...

another 6 months to wait for review. Silver not being sold at these crazy low prices can be considered a wise thing. But caution to all mines located in unstable countries.

infometron
Sep 4, 2018 - 11:09am

Not all gloom and doom...

Bought GUG @.07, sold half @.30, bought more JNUG. Stupid?

With all this ugly news, it sure has all the look and feel of a capitulation.

Especially in silver, after touching a 13 handle this morning! But who knows?

As for (physical) gold, one would think emerging markets are buyers.

infometron
Sep 4, 2018 - 11:03am
infometron
Sep 4, 2018 - 10:49am

HUI

Currently @136.55, next support appears to be ~121.70 or so...

https://tinyurl.com/ydh494za

Ay yay yay, Lucy

infometron
Sep 4, 2018 - 10:42am

TAHO

Yikes! Down from $17.01 on August 15, 2016... Friggin' ugly!

Jihk2431
Sep 4, 2018 - 10:38am

Did anyone see TAHO this morning...ouch

I dumped mine a long time ago, but I check it periodically on smashes. Looks like the deadly combination of incompetence and underlying silver price weakness.

Ben Stackin
Sep 4, 2018 - 10:14am

The other two PM's are doing fine this morning....

Lead, and cold blue steel... as evidenced by Ruger (+0.3%) and Smith and Wesson (+1.85%) and Vista Outdoors (+0.43%)

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Mickey
Sep 4, 2018 - 10:07am

The Jordan era vs Kaepernick

as wide a spread as possible.

Jordans skills were at the top level and his personality shined. The "Be like Mike" campaign was a 180 from Kaepernicks.

Its business folks, and a business like all of these are not supposed to be making political or social statements. Just "field" a good product and make it value oriented. I do remember when air jordans were selling at $125 and this was back in the mid 1990's

AvgAmerican
Sep 4, 2018 - 10:05am

Just do it!

Just BURN IT!

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