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U.S. Global Investors/Frank Holmes/6-26-2020
“A ‘perfect storm’ of surging government debt levels, plunging real bond yields, rising coronavirus cases and deteriorating economic forecasts pushed the price of gold to an eight-year high this week, and some analysts now project the metal to top its all-time high within the next 12 months.”
USAGOLD note: Holmes finds himself in the company of hundreds of analysts who have predicted would reach all-time highs in the near future. He says gold trades inversely to bond yields – as both bonds and gold are sought as safe havens in this presently disinflationary environment.
Sources: Federal Reserve Board of Governors, ICE Benchmark Administration, St. Louis Federal Reserv [FRED]
LinkedIn/David Kelly/6-29-2020
“First, in the short run, some caution is warranted. While U.S. equities still look attractive relative to Treasuries for the long run, there is a significant risk of disappointment in either the medical data or the economic numbers. This suggests the need to hedge equity exposure using either high-quality, long-duration bonds or, better still, more explicit hedging techniques.”
USAGOLD note: David Kelly, the chief global strategist for J.P. Morgan, does not elaborate in this article on what those “more explicit hedging techniques” might be. On the other hand, J.P. Morgan has been a very vocal supporter of gold ownership over the past few years saying just recently that the yellow metal is due for more gains in the second half of 2020.
Charlotte, North Carolina (June 30, 2020) – A national precious-metals dealer has teamed up with a sound money policy group to help students pay for the ever-increasing costs of college.
Money Metals Exchange has joined with the Sound Money Defense League to offer the Sound Money Scholarship — the first gold-backed scholarship of the modern era. Starting in 2016, these organizations have set aside 100 ounces of physical gold (worth about $180,000 based on current Gold price) to reward outstanding students who display a thorough understanding of economics, monetary policy, and sound money.
The Sound Money Scholarship is open to high school seniors, undergraduate, and graduate students with an interest in economics, specifically the free-market tradition. Applicants do not have to be economics majors to be eligible to receive this scholarship – and the deadline for applications is September 30.
Money Metals Exchange and the Sound Money Defense League also announced this year’s blue-ribbon panel of judges:
Dr. Will Anderson is a Fellow of the Mises Institute and professor of economics at Frostburg State University. He earned his MA in economics from Clemson University and his PhD in economics from Auburn University, where he was a Mises Research Fellow. He has been writing about Austrian economics since 1981. In 1982, he won the Olive W. Garvey Economic Essay Contest and presented his paper at the Mont Pelerin Society in the former West Berlin.
He has published numerous articles and papers on economics and political economy, including articles in The Independent Review, Reason Magazine, The Free Market, The Freeman, Public Choice, The American Journal of Economics and Sociology, Quarterly Journal of Austrian Economics, The Journal of Markets and Morality, Regulation, Freedom Daily and others
Dr. Per Bylund, PhD, is a Fellow of the Mises Institute and Assistant Professor of Entrepreneurship & Records-Johnston Professor of Free Enterprise in the School of Entrepreneurship in the Spears School of Business at Oklahoma State University, and an Associate Fellow of the Ratio Institute in Stockholm. He has previously held positions at Baylor University and the University of Missouri.
Dr. Bylund has published research in top journals in both entrepreneurship and management as well as in both the Quarterly Journal of Austrian Economics and the Review of Austrian Economics. He is the author of two full-length books
Larry Reed is the Foundation for Economic Education’s (FEE) President Emeritus and Humphreys Family Senior Fellow. Reed served as president of FEE from 2008-2019 after serving previously as chairman of its board of trustees in the 1990s and both writing and speaking for FEE since the late 1970s. Prior to becoming FEE’s president, he served for 21 years as president of the Mackinac Center for Public Policy in Midland, Michigan. He also taught economics full-time from 1977 to 1984 at Northwood University in Michigan and chaired its department of economics from 1982 to 1984.
He holds a B.A. in economics from Grove City College (1975) and an M.A. degree in history from Slippery Rock State University (1978), both in Pennsylvania. He holds two honorary doctorates, one from Central Michigan University (public administration, 1993) and Northwood University (laws, 2008).
Michael Maharrey serves as the national communications director for the Tenth Amendment Center. He hosts his own podcast, Thoughts from Maharrey Head, as well as the Friday Gold Wrap. Michael is the author of four books and several e-books on the US Constitution and nullification.
Michael earned a degree in Mass Communications from the University of South Florida St. Petersburg and a B.S. in Accounting from the University of Kentucky. He speaks at events across the United States, and frequently appears as a guest on local, national, and international radio shows advancing constitutional history and America’s founding principles.
In prior years, the Sound Money Scholarship has received entries from students attending more than 180 different schools in 44 states, Puerto Rico, Washington D.C., six countries, and three continents.
The deadline to submit applications is September 30, 2020.
For more information, please visit moneymetals.com/scholarship or email scholarship@moneymetals.com.
Contact: Jp Cortez
Phone: 404-948-8935
E-mail: jp.cortez@soundmoneydefense.org
#######
Sound Money Defense League is a public policy group working nationally to promote sound money across the U.S.
Money Metals Exchange—a national precious-metals retailer recently named “Best in the USA” by an independent global-ratings group—buys, sells, and securely stores physical gold, silver, platinum, and palladium.
Source: Clive Maund for Streetwise Reports 06/29/2020
Technical analyst Clive Maund charts his expectations for how silver prices will respond to movement in the stock market.
Much of what is written in the parallel Gold Market update is equally applicable to silver and it will not be repeated here.
Although silver has picked up significantly since its March low it has greatly underperformed gold over the past two years. But this is normal during the earliest stages of a major sector bull market, when gold is favored over silver.
On its 20-year chart we can see that silver remains stuck within a giant base pattern that started to form as far back as 2013. This chart makes clear that once gold breaks out to new highs against the dollar, then silver should break out of this base to enter a dynamic advancing phase.
The 5-year chart reveals that silver is battling a lot of resistance in this zone, so if gold should back off soon for whatever reason, like the stock market dropping hard, then it will likely drop back for a while too.
Here we should note that if the stock market does go into another down wave soon, then the Fed can be expected to print up another couple of trillion [dollars] to drive it back up again, which will be hyperinflationary and very bullish for gold and silver. Keep in mind that if the Fed (or its proxies) wade in here, buying stocks, they can head off any decline and get it moving higher again.
The 2-year chart for silver, with the S&P500 index shown at the top, is useful as it makes clear that there is a crude but important correlation between silver and the stock market, which can be expressed bluntly as “when the stock market tanks, it takes silver with it.” The message from this chart is thus clear—if the stock market continues to advance, courtesy of continued Fed pumping, then there is a good chance that silver will break out of its base pattern. But if the Fed “falls down on the job” and the stock market tanks again, so will silver. Big Money doesn’t care about either the economy or the unemployed—all it cares about is the stock market and how much it can make off of deals, etc.
On this chart we see that although silver’s overbought condition has neutralized in recent weeks, putting it theoretically in position to break out of its giant base, there is a lot of resistance above the current price that we can expect to turn it down if the stock market weakens.
Finally, on the 6-month chart we can see that silver is at a critical juncture here, with the 50-day moving average pulling up close to the price and the 200-day, and a small, potential head-and-shoulders top completing, so we can expect a bigger move soon.
Originally published on CliveMaund.com on June 28, 2020.
Clive Maund has been president of www.clivemaund.com, a successful resource sector website, since its inception in 2003. He has 30 years’ experience in technical analysis and has worked for banks, commodity brokers and stockbrokers in the City of London. He holds a Diploma in Technical Analysis from the UK Society of Technical Analysts.
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Disclosure:
1) Statements and opinions expressed are the opinions of Clive Maund and not of Streetwise Reports or its officers. Clive Maund is wholly responsible for the validity of the statements. Streetwise Reports was not involved in any aspect of the article preparation. Clive Maund was not paid by Streetwise Reports LLC for this article. Streetwise Reports was not paid by the author to publish or syndicate this article.
2) This article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
3) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.
Charts provided by the author.
CliveMaund.com Disclosure:
The above represents the opinion and analysis of Mr. Maund, based on data available to him, at the time of writing. Mr. Maund’s opinions are his own, and are not a recommendation or an offer to buy or sell securities. Mr. Maund is an independent analyst who receives no compensation of any kind from any groups, individuals or corporations mentioned in his reports. As trading and investing in any financial markets may involve serious risk of loss, Mr. Maund recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction and do your own due diligence and research when making any kind of a transaction with financial ramifications. Although a qualified and experienced stock market analyst, Clive Maund is not a Registered Securities Advisor. Therefore Mr. Maund’s opinions on the market and stocks can only be construed as a solicitation to buy and sell securities when they are subject to the prior approval and endorsement of a Registered Securities Advisor operating in accordance with the appropriate regulations in your area of jurisdiction.
Source: Bob Moriarty for Streetwise Reports 06/29/2020
Bob Moriarty of 321gold discusses why he believes this new company can succeed with this gold mine while its predecessor could not.
Yesterday I promised I would be boring so here it is. We are in a depression. The Fed is doing the opposite of the right thing. They are destroying the currency. Their stupidity will take down the stock market as well as the bond market and leave most of the 99% broken. We will see the banks close. We will have hyperinflation.
You can still protect yourself and it’s not by buying Hertz shares on RobbingTheHood. I promised I would be writing about low cost high potential resource stocks.
Magna Gold Corp. (MGR:TSX.V; MGLQF:OTCQB) is a newly formed company headed by Arturo Bonillas. He has done a deal with Alio, the new company name for what was Timmins Gold, former operator of the San Francisco Gold Mine in Sonora, Mexico.
Timmins put the mine back into production but got a little carried away with drilling and trying to advance the mine. They managed to spend all the profit on exploration. Arturo Bonillas managed the mine and can solve the real issues created by prior management. Under the agreement for Magna to take over the mine, Timmins will receive about 18% of the stock. In addition there were legal issues with former contractors who weren’t paid. Those issues have been sorted.
The mine has and can make money. Magna has about $10 million in cash with an M&I 43-101 of 1.484 million ounces of gold. The company is leaching now and expects to be stacking ore in a little over a month. In a recent press release the company announced production of 2,350 ounces of gold in May at a cash cost of $1,121 an ounce USD.
The San Francisco Mine could have been profitable for Timmins except for some poor operational decisions. The mine is now in the hands of someone who knows it better than anyone. Arturo Bonillas knows both the problems and how to solve them.
Magna plans on restarting the San Francisco mine and getting to stable low cost production. First year production should be about 70,000 ounces moving to 100,000 ounces in a year. Management has plans for expansion and picking up new projects with an objective of annual production of 200,000 ounces gold with a 5 million ounce resource by 2023. It can be done and they will have a far higher market cap when they achieve that.
I have bought shares in the open market. Magna is an advertiser and naturally that makes me biased. Do your own due diligence.
Magna Gold
MGR-V $1.16 (Jun 29, 2020)
MGLQF-OTCQB 84.5 million shares
Magna Gold website.
Bob Moriarty
President: 321gold
Archives
321gold
Bob Moriarty founded 321gold.com, with his late wife, Barbara Moriarty, more than 16 years ago. They later added 321energy.com to cover oil, natural gas, gasoline, coal, solar, wind and nuclear energy. Both sites feature articles, editorial opinions, pricing figures and updates on current events affecting both sectors. Previously, Moriarty was a Marine F-4B and O-1 pilot with more than 832 missions in Vietnam. He holds 14 international aviation records.
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Disclosure:
1) Bob Moriarty: I, or members of my immediate household or family, own shares of the following companies mentioned in this article: Magna Gold. Magna Gold is an advertiser on 321 Gold. I determined which companies would be included in this article based on my research and understanding of the sector.
2) The following companies mentioned are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees.
3) Statements and opinions expressed are the opinions of the author and not of Streetwise Reports or its officers. The author is wholly responsible for the validity of the statements. The author was not paid by Streetwise Reports for this article. Streetwise Reports was not paid by the author to publish or syndicate this article. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.
( Companies Mentioned: MGR:TSX.V; MGLQF:OTCQB,
)
