James
Turk, John Williams, Yannis Tsitos & Bob Hoye (encore).
(guest
order - alphabetical)
Please
Listen Here:
Summary:
President
and Director of Goldsource Mines (GXS.V),
Yannis Tsitos makes his show debut.
Peter
Spina has chosen his firm as the top PMs stock opportunity
of 2016.
With
close to 30 years to perfect his work, President
Tsitos knows how to turn a small mining company
into a world-class operation.
The
company vision includes expanding to a medium sized
gold producer. The South American project shows
great potential.
Many of the Guyana based gold deposits are located
near the surface, making extraction profitable.
The
only English speaking nation in S.A., Guyana is
a pro-mining, former British colony, offering additional
appeal to operations.
His
management team boasts 250 years of experience,
adding significant shareholder value.
First
gold production by Christmas on their flagship property
for merely $480 cash cost-$630 all in cost per ounce,
merely half the spot price.
Goldsource
has an affiliation with major producer and key shareholder
(5%), IAMGOLD, adding strategic synergies.
Shareholders
benefit from the coal property in Canada, with significant
resources and exploration potential.
James
Turk of GoldMoney.com
returns to the program with less than sanguine comments
on the domestic economy.
Half
of 25 year olds in the US are living in their parent's
homes, struggling to make ends meet.
The
statistic is emblematic of the erosion of the economic
affluence of the middle class.
The
issue stems from lost purchasing power of the currency,
resulting from profligate monetary expansion.
When
income is adjusted for inflation and related expenses,
most employees earn far less than medieval serfs.
The
desperation of the situation is exacerbate by the
off-shoring of tens of millions of high paying jobs,
due to NAFTA and related policies.
The
persistence of gold backwardation (current spot lower
than future price) should not occur, as it presents
an arbitrage situation.
Since
2000, gold has appreciated over 11% on average each
year and held it's purchasing power much better than
most competing asset classes.
The
US dollar is lower, while stocks and bonds have hardly
budged since that point, while gold has ascended at
least four fold, $250 to over $1,000.
Economist
John Williams of Shadowstats.com
returns to the show.
The
true underlying economic situation, hidden
within the "official" economic data,
is less than encouraging.
The
typically cool-headed and collected economic-sleuth
is unnerved by Fed policies.
His
work indicates that the economy never recovered
from that ominous period, resulting in the
current stagnation.
Our
guest echoes American economist Dr. Frank
Knight who noted: economics is simple.
John
Williams uncovers fingerprints of gold market manipulation
/ rigging, likely stemming from official sources.
His
analysis indicates a US dollar endgame scenario of
less than sanguine consequences.
The
host suggests an alternative hypothesis: the PBoC
is aggressively promoting China's Yuan currency to
the IMF, as a global reserve currency alternative,
as seen by the recent currency pegging to the Swiss
Franc.
Therefore, dollar strength resulting from imminent
US rate hikes in 2016 and dovish moves by the ECB,
PBoC and the BOJ, are responsible for most of the
12 month dollar rally and resulting commodities weakness.
John
Williams and the host agree that the perfect panacea
for the typical investment portfolio remains PMs,
the ideal insurance policy.
The
discussion begins with the news from South America,
that the Venezuelan government has plans to sell
the national gold stockpile.
If
implemented, the operation would undo the significant
efforts of the late Hugo Chavez.
Global
central banks are inadvertently supporting the PMs
community - policymakers at the PBoC and EU announced
new monetary stimulus plans.
The EU finance minister is considering a plan to
lower the benchmark lending rate further into negative
territory, an unprecedented event.
The
Fed Chair shocked investors this week, noting that
if domestic economic conditions continue to deteriorate,
negative US lending rates could be helpful.
Some
market watchers inferred from the speech that Fed
officials might not raise rates in 2016.
The
CME
Group Fed Funds Futures contracts suggest
that investors are now placing high odds that rates
will increase sharply, to 1-2% or higher, as soon
as next year.
Bob
Hoye notes that Fed policymakers may not set rates,
but actually follow the market trend in rates.
For
instance, the 2 year T-Bill seems to lead Fed interest
rate policy (Figure 1.2).
Our
guest notes that the PMs market could be building
a base, in advance of the next bull market.
He
outlines his Christmas Bonus indicator, based on the
Broker / Dealer index via the ETF (IAI).
Right
Click Above and "Save Target As..." to download. To
learn more about software needed to play the above formats,
please
visit the FAQ.
NEW
- Hotline - Q&A:
1-206-666-5370
Yannis
Tsitos
Goldsource
Mines, LLC.
Mr.
Tsitos has over 26 years experience in the mining
industry, having spent 19 years with BHP Billiton
group. In his time in the industry, he has lived
and worked in South Africa, Ecuador, Greece
and United Kingdom, and has been working in
Canada since 2000. Originally a physicist-geophysicist,
he left BHP Billiton in December 2007, where
he had the title of New Business Manager for
Minerals Exploration with a global reach, but
based in Vancouver. He has been instrumental
in the identification, negotiation and execution
of more than 50 exploration agreements with
juniors, majors, as well as with state exploration
and mining companies. Mr. Tsitos has also been
part of two discovery teams with BHP Billiton
in porphyry-copper and nickel-sulphide deposits.
He holds a B.Sc degree in Physics from the University
of Athens and a master's degree in Applied Geophysics
and Geology from the University of Birmingham,
UK. In addition, he completed management and
finance studies as part of an MBA program with
Herriot Watt University, Edinburgh.
With
a degree in geophysics and a number of fascinating
summers in mining exploration, one winter in
"the bush" quickly led Bob into the
financial markets. This included experience
on the trading desk and in the research department
of a large investment dealer, which led to institutional
stock and bond sales.
Bob's
review of financial history provided the forecasting
models designed to anticipate significant trend
reversals in the sometimes alarming volatility
typical of the transition from rampant speculation
in tangible assets to fabulous speculation in
financial assets.
In
anticipation of the latter opportunity, a monthly
publication for financial institutions was started
in January 1982.
This
competently covered the stock market, the yield
curve, credit spreads as well as metal and energy
prices.
In
1998 the Institutional Advisors website was
started as a forum for unique and reliable financial
research.
John Williams Shadow Government Statistics is
a monthly electronic newsletter that exposes
and analyzes the flaws in current U.S. Government
data and reporting, as well as in certain private-sector
numbers. It also looks at the financial markets
free of the hype so often put forth in the popular
financial media. Generally published on the
second Wednesday of the month, the newsletter
is supplemented by Flash Updates and occasional
Alerts that highlight unusual developments.
The publication includes regular analysis of:
*
The prior month's reporting (employment/unemployment,
CPI, GDP, retail sales, housing statistics,
factory orders, trade balance, consumer confidence,
purchasing managers' survey and others) including
estimates of actual results net of any reporting
biases.
*
The coming month's reporting, highlighting unusual
circumstances and biases that could bring results
in above or below market expectations.
*
Economic series that are relatively free of
reporting biases and what they indicate about
the economy and inflation.
*
Special features detailing the background of
government series not previously explored in
the newsletter, along with updates to changes
in reporting methodologies for all major series.
*Markets
Perspective -- part of the regular newsletter
-- where the financial markets are assessed
net of ongoing hype from Wall Street, the Federal
Reserve and the Administration.
*
Alternate Data Series -- covering the CPI, GDP
and a continuing version of the discontinued
M3 series -- are available for downloading by
subscribers.
Subscription
Rates: $89.00 for six months, $175.00 for twelve
months.
James
Turk is founder of GoldMoney.com, which operates
the leading digital gold currency. He also publishes
the Freemarket Gold & Money Report, an investment
newsletter he founded in 1987. Previously, after
a decade with the international department of
Chase Manhattan Bank, he managed the commodity
department of the Abu Dhabi Investment Authority.
His media appearances include GoldSeek.com,
CNN, Bloomberg, CBSMarketWatch, CNBC, Barron’s,
the Wall Street Journal, and Financial Sense
Online.
