It is hard to sum up the chasm between economic reality and manipulated criminogenic financial markets any better than this epic take-down by former Assistant Secretary of Treasury Paul Craig Roberts. This one should be listened to by all who wish to separate the wheat from the chaff. His comments on Russia and neo-liberal economics are very insightful. About the only thing he says that I disagree with is that the big banks are agents of the Government. Actually the Government is an agent of the big banks, which in turn are agents of the global crime syndicate or Cabal.
Video Length:00:38:54
Today's big move on PMs is clearly related to some big easing coming out of China.
GOFO rates NEGATIVE : 1 Month Rate: -.09.% 2 Month Rate –.065 % 3 Month Rate -.04 %
Friday's Shanghai session was huge: 14.65 tonnes.
There was a withdrawal of 11.65 tonnes from the GLD inventory on Wed. Dec. 24. This is far more than the normal ship it off to China and India transactions, and might signal a major holder such as John Paulsen taking personal possession. The House of Tungsten now allegedly has 712.90 tonnes. The fund lost about 72 tonnes in 2014.
True Gold's Karma project construction is both on schedule and on budget. US$56M has been spent and committed to date, representing 42% of the estimated US$131.5M Karma Gold Project initial capex.
Major earthwork projects, raw water storage pond, and the base for the heap leach pad are scheduled to begin in January 2015. True Gold continues to target commercial production by the end of 2015 and expects to produce approximately 150,000 ounces gold in 2016.
TGM valuation is nonsensical. African projects heading for production and in production are mentioned prominently as takeover candidates. That would include True Gold, Asanko, and Teranga.
