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Emmet Kodesh

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  • The Good News, The Bad News And What's Very Ugly [View article]
    Palladium holds up best in the recent smash of PMs and because of industrial uses is best going forward, least volatility. You might glance at my piece "China Pollution makes Platinum Group Metals attractive"
    Lawrence writes a fine overview.
    May 17 03:06 AM | Likes Like |Link to Comment
  • Humpty-Dumpty: The Year The Markets Never Came Down [View article]
    Thanks, Donald: I do my best.
    May 17 12:31 AM | Likes Like |Link to Comment
  • Humpty-Dumpty: The Year The Markets Never Came Down [View article]
    streakmarine, look at my comment directly above yours and read the article more closely: I expect more volatility & new bottoms in PM sector and have been suggesting for weeks that "PM miners are for trading" (read that piece). Also for three+ months ("Buy the Ski-Jump Markets, Eye the Exits") I have urged overweighting equities and steady "nibbling" on the indices because of sentiment, momentum and the ability to game the system. If you glance through my archive you will see this consistent message. Lawrence Fuller recently wrote a fine piece on SA on the troubling nature of the economic fundamentals. There also is reason, depending on one's situation, as evan says above, to "be right and sit tight." -- Thanks for reading.
    May 16 01:26 AM | 1 Like Like |Link to Comment
  • Humpty-Dumpty: The Year The Markets Never Came Down [View article]
    Given price action last few sessions we are in the midst of the second smack down, aka, the finisher. The masters are teaching the peons a lesson but 'little guys' like you two fellows like millions of others around the world are drawing the 'incorrect' (that is, the rational) conclusion. If you have investable funds they have made another great buying oppt. My next piece briefly will explain how these sudden drops in spot bullion occur amidst heavy demand.
    bdd4uandu: yes, probably. Just remember, those who inflicted these hits are unlikely to stop hitting. --- Thanks for reading.
    May 15 11:33 PM | Likes Like |Link to Comment
  • Bad News Keeps On Coming For Barrick Gold [View article]
    Right, Shaggieman. I have covered this material in detail in several recent pieces and Philip Davis on SA has taken a careful look at ABX and offered a totally different assessment. The bad news and sour sentiment has been priced into ABX a long time. The Dominican deal is a positive considering that the huge project will continue. As for the tax - royalty take by the govt, it's high but if Americans count up their own federal, state, county and municipal burden...
    May 15 12:26 PM | 2 Likes Like |Link to Comment
  • If You Like The Automakers, You Should Love These Metals [View article]
    China also is expected to greatly expand its fleet of cars and trucks. I wrote on this 2 months ago in "China Pollution makes Platinum Group metals attractive."
    Another fine piece by Eric.
    May 13 01:03 PM | 1 Like Like |Link to Comment
  • Barrick-China Deal Big Win For Gold: USD Rise Veils Precious Metals Sector Strength [View article]
    Agree, Hannox: good points and thanks. Of course the Zijin deal may not go through, or not in its current form but the pattern is clear: China continues to buy up PM and other commodity properties just as they and their citizens buy PMs. Thanks for readin.
    May 13 11:04 AM | Likes Like |Link to Comment
  • Escape Strategies For When The Stock Market Starts To Burn [View article]
    It is a joke, a bad one and the laugh is on us. A few small fines (given the previous gains) for a few "sytemically important" giants and then on to the next gaming table.
    Long term treasuries are safe? Is there not a serious bond price bubble?
    Eric writes a good piece.
    I have written several articles making these points about the "no exit" markets including "Buy the Ski-Jump Market, Eye the Exits" about 3 months ago.
    Good luck to everyone on the Titanic.
    May 13 10:35 AM | Likes Like |Link to Comment
  • Barrick-China Deal Big Win For Gold: USD Rise Veils Precious Metals Sector Strength [View article]
    Thanks, Phenix: equity bubbles and bond (price) bubbles are trouble.
    As you note the transfer of wealth West to East is very well-documented and some people have been discussing it for decades.
    China's pmi is troubling but their pursuit of commodities is telling. The values in mining sector are compelling (c.f. Lawrence Roulston) but remember, they are best as "Trading Vehicles" (see recent piece). A wealth consolidation event may come at any time. NB: the indices remain nearly 25% below 2000 peak in real terms. Thanks for reading
    May 12 03:26 PM | Likes Like |Link to Comment
  • Market Running On Fumes, Prepare Your Exit Strategy [View article]
    Right: another "wealth consolidation event" is pending and may come at any time they deem expedient. I invite you to glance through my archives in which I try to track the gaming of the system and course of the Titanic. Thanks for interesting discussion.
    May 12 03:21 PM | 1 Like Like |Link to Comment
  • The Good News, The Bad News And What's Very Ugly [View article]
    Fine article, Lawrence and cogent, timely and valuable overview and insights. In your own way you lucidly and with important charts make the points that have been core to what I've tried to show in my writings this year: the decoupling of the markets from the economy, steadily increasing like the untethered falcon in Yeats' "Second Coming," the decline in REAL net worth and income; the loss of jobs w benefits; the vitiating long term effects of QE. You also should note the rapid slump of retail sales growth, down from 9.5% to 2.64% today: a huge decline in 22 months like that from 2005-dec 2007.
    Gold is now a value trade as well as fear and inflation. People should remember that the PM mining sector is for trading, especially with the amount of govt intervention in markets. Another wealth consolidation event is in the offing.
    As to bonds other than short term investment grade as a cash position, have been warning people away all year. "High Yield" bond is a term that now is false advertising. though one buys bonds for yield, the very elevated price on JNK makes it a time to take profit and deploy the money elsewhere.
    Another fine article. You are among the best and I hope you & your readers will consider my archive. Keep writing...
    May 12 03:01 PM | Likes Like |Link to Comment
  • Gold And Markets Married By Fiat: PM Collapse Precedes Markets [View article]
    40 years in the wilderness, but is the Promised Land at the end? For some, yes, but not for those on the Titanic..... Glance at my piece, "Gold Against Paper." Thanks for reading.
    May 12 01:23 PM | Likes Like |Link to Comment
  • Gold's Crash, Europe's Woes Signal Global Decline: Companies To Watch [View article]
    Readers of my archive know that I have used the Titanic analogy many times about the markets, EU and other issues: it is a figure for a times. As I suggested in a previous piece, it recalls Hardy's poem, "The Convergence of the Twain" ("that shook two hemispheres").
    John you make good points: definf, please read my article, "Gold, Silver, Equities or a Farm." Many better places to live: as with mining companies, check the jurisdiction.
    May 12 12:55 PM | 1 Like Like |Link to Comment
  • Gold's Crash, Europe's Woes Signal Global Decline: Companies To Watch [View article]
    In late March, a MP from the Bavarian Social Union said that Germany "Must impose fiscal discipline on Europe," ahem. It may not be as 'colorful' as this though it would please the dial-spinners in london or perhaps one should use Orwell's term, "Oceania." As I've written, the EU was constructed in order to fall apart, even more so than the League of Nations. Carroll Quigley's "Tragedy & Hope" has several hundred pages on how Britain's rulers ruined that.
    May 12 12:51 PM | Likes Like |Link to Comment
  • Barrick-China Deal Big Win For Gold: USD Rise Veils Precious Metals Sector Strength [View article]
    That's right, Ben: win - win: that's why the news is important. It also dovetails with the macro issues I mentioned.
    Techy, all the points you make are spot on and I've been covering them in my archive which you might enjoy. By cutting capex & focusing on best sites ABX is now good value. One might even hold it a while because the positives from Dominican resolution, the sale of more costly ops and putting senior Chilean execs on board to resolve Pascua Lama are big positives. Take care........
    May 12 11:56 AM | 2 Likes Like |Link to Comment
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593 Comments
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