Checking in with Ken Lewis, CEO of APMEX and OneGold

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In lieu of a regular podcast update today, please take time to listen to this insightful discussion with Ken Lewis, CEO of APMEX and OneGold.

Over the course of this call, Ken and I discuss a wide range of topics, including:

  • a reminder of the the benefits of using OneGold
  • current retail demand trends for physical gold and silver
  • Ken's thoughts on where prices head from here
  • and what Ken expects in terms of retail supply (long-term investors liquidating metal) in the months ahead.

This was a very interesting and timely discussion and I think you're going to find it quite helpful. And please be sure to check out OneGold. I'm a very satisfied customer and I think you will be, too.

TF

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AGXIIK
Sep 9, 2019 - 11:36pm

@AGXIIK

Rehearsal dinner tonight. Party moved to hotel bar. I just polished off a glass of Red Breast 12-yr for my night cap. Delicious.

Sep 9, 2019 - 11:28pm
Stevediva
Sep 9, 2019 - 11:17pm

my post from friday

this week is a down week.

next week sideways

we start rallying 2 days after FED lines....

However in this rally since the slam downs didnt last to long.....POG is inversely correlated to higher bond prices. so as yields go down PG goes up as TF has pointed out....

AgstAger
Sep 9, 2019 - 11:12pm

Rickshaw

Is this your personal experience or are you pasting someone else's comments?

happycamper515
Sep 9, 2019 - 11:00pm

The last 3 days

feels like an elevator going down w/ no brakes. Something tells me tomorrow is more of the same.

Loblolly PineRickshawETF
Sep 9, 2019 - 10:48pm

Inquiring minds want to know?

Haven't the slightest as to the reorgs and mergers, but what an awful investment, as described, way worse than any dotcom folklore. Presumably, the point has to do with an emperor's clothes.

AGXIIK
Sep 9, 2019 - 10:35pm

TITS UP-TITS DOWN; GOLD N'SILVER GO ROUND N' ROUND

AU down $17.5 today

AG down 39 cents

Pinche Cabron, hombre.

At this rate my Red Breast 12 yr is going to remain a virgin for a while.

gold way p
Sep 9, 2019 - 9:35pm

Stunning sprottville screw

Methinks something rotten in Denmark

RickshawETF
Sep 9, 2019 - 9:26pm

Not All Is Rosy in Sprottville . . .

Having lost a considerable amount of fiat during the Great PM Takedown of April-June, 2013, I was looking for a safer venue to take advantage of the popping of the Final Debt Bubble of our lifetimes. One promising opportunity, under the “seal of approval” [I] afforded the Sprott family of investments was:

Sprott Resource Cp

"Sprott Resources Corp was incorporated on August 19, 1994. The Company invests and operates, through its subsidiaries, in the natural resource sector. The Company has three reportable segments namely the energy segment; the agriculture segment; and the corporate. The Energy Segment includes the results and operations of Waseca Energy Inc. and One Earth Oil & Gas Inc., in which the Company holds 81.1% and 91.1% interest respectively. The Agriculture Segment includes the results and operations of One Earth Farms Corp. and its subsidiaries. The Corporate Segment includes the Company's ownership of gold bullion, cash and other short-term investments and securities of companies in the natural resource sector."

Hmmm, diversification into energy, agriculture, and gold/cash. It sounded fairly safe and well-diversified among things that would benefit from the bursting of the debt bubble.

On 7/11/13, well clear of the April-June PM massacre, I bought the following:

Sprott Resources CP (SCPZF) – 1,000 shares @ $3.64 each = $3,648.95 cost

by December 31, 2016, the value had dropped to $0.3621 per share for a loss of over 90%! WTF??? I guess their gold holdings represented 10% of holdings, and those energy holdings and farmland went to zero???

on February 17, 2017 Sprott “merged” the shares into Sprott Resource Holdings

I received 3,000 shares of Sprott Resource Holdings (SRHIF) with a value of $0.1427 per share

on August 15, 2018 there was a reverse split of 20 to 1 and my 3,000 shares became 150 shares with a new symbol of SRHID. The value of the shares at the end of August, 2018 was $1.16 each, for a loss of more than 95% of my “investment” !!! (They must have sold off that gold -- maybe they re-hypothecated it to JP Morgan . . .)

Today, those shares are priced at $0.7745 for a total loss of 96.8% of my purchase price . . . Did the farm go “tits up” (in AGXIIK parlance)? Is energy down the crapper? Did the gold turn out to be tungsten?

Inquiring minds want to know . . .

happycamper515
Sep 9, 2019 - 9:12pm

PMs under attack

Now back to our normal programming.

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Key Economic Events Week of 9/21

9/21 8:00 ET Goon Kaplan
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9/22 10:30 ET Chief Goon Powell on Capitol Hill
9/22 Noon ET Goon Barkin
9/22 3:00 pm ET Goon Bostic again
9/23 9:00 ET Goon Mester
9/23 9:45 ET Markit flash PMIs for September
9/23 10:00 ET Chief Goon Powell on Capitol Hill
9/23 11:00 ET Goon Evans again
9/23 Noon ET Goon Rosengren
9/24 1:00 pm ET Goon Bostic #3
9/24 2:00 pm ET Goon Quarles
9/24 10:00 ET Chief Goon Powell on Capitol Hill
9/24 Noon ET Goon Bullard
9/24 1:00 pm ET Goon Barkin again & Goon Evans #3
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9/25 8:30 ET Durable Goods
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9/25 3:00 pm ET Goon Williams again

Key Economic Events Week of 9/14

9/15 8:30 ET Empire State and Import Price Idx
9/15 9:15 ET Cap Ute and Ind Prod
9/16 8:30 ET Retail Sales
9/16 10:00 ET Business Inventories
9/16 2:00 ET FOMC Fedlines
9/16 2:30 ET Powell Presser
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9/18 8:30 ET Current Acct Deficit

Key Economic Events Week of 9/7

9/9 10:00 ET JOLTS job openings
9/10 8:30 ET Initial jobless claims
9/10 8:30 ET PPI
9/10 10:00 ET Wholesale Inventories
9/11 8:30 ET CPI
9/11 9:45 ET Core CPI

Key Economic Events Week of 8/31

9/1 9:45 ET Markit Manu Index
9/1 10:00 ET ISM Manu Index
9/1 10:00 ET Construction Spending
9/2 8:15 ET ADP employment
9/2 10:00 ET Goon Williams
9/2 10:00 ET Factory Orders
9/3 8:30 ET Initial jobless claims
9/3 8:30 ET Trade Deficit
9/3 12:30 ET Goon Evans
9/4 8:30 ET BLSBS

Key Economic Events Week of 8/24

8/24 8:30 ET Chicago Fed Idx
8/25 10:00 ET Consumer Confidence
8/26 8:30 ET Durable Goods
8/27 8:30 ET Q2 GDP 2nd guess
8/27 9:10 ET Chief Goon Powell Jackson Hole
8/28 8:30 ET Pers Inc and Consumer Spend
8/28 8:30 ET Core Inflation
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Key Economic Events Week of 8/17

8/17 8:30 ET Empire State Manu Idx
8/17 Noon ET Goon Bostic
8/18 8:30 ET Housing Starts
8/19 2:00 pm ET July FOMC minutes
8/20 8:30 ET Jobless claims
8/20 8:30 ET Philly Fed
8/20 10:00 ET LEIII
8/21 9:45 ET Markit flash PMIs July

Key Economic Events Week of 8/10

8/10 10:00 ET Job openings
8/11 8:30 ET Producer Price Idx
8/12 8:30 ET Consumer Price Idx
8/13 8:30 ET Initial jobless claims
8/13 8:30 ET Import Price Idx
8/14 8:30 ET Retail Sales
8/14 8:30 ET Productivity & Unit Labor Costs
8/14 8:30 ET Cap Ute and Ind Prod
8/14 10:00 ET Business Inventories

Key Economic Events Week of 8/3

8/3 9:45 ET Markit Manu PMI July
8/3 10:00 ET ISM Manu PMI July
8/3 10:00 ET Construction Spending
8/4 10:00 ET Factory Orders
8/5 8:15 ET ADP employment July
8/5 9:45 ET Markit Service PMI
8/5 10:00 ET ISM Service PMI
8/6 8:30 ET Initial jobless claims
8/7 8:30 ET BLSBS for July
8/7 10:00 ET Wholesale Inventories

Key Economic Events Week of 7/27

7/27 8:30 ET Durable Goods
7/28 9:00 ET Case-Shiller home prices
7/29 8:30 ET Advance trade in goods
7/29 2:00 ET FOMC Fedlines
7/29 2:30 ET CGP presser
7/30 8:30 ET Q2 GDP first guess
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Key Economic Events Week of 7/20

7/21 8:30 ET Chicago Fed
7/21 2:00 ET Senate vote on Judy Shelton
7/22 10:00 ET Existing home sales
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7/24 9:45 ET Markit flash PMIs for July

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