Former U.S. Budget Director: Few Will Survive "Sundown in America".
David Stockman is not just ordinary "prepper" - he deserves to listen carefully. How long this party ignited by the FED can continue - nobody knows, but chart looks toppy at least. Markets just become the total joke. Everybody has forget that they can go down as well. This nasty weekly bearish candle in SPY can bring some trouble to the buy-every-dip crowd. Will Gold has it chance to continue its bullish trend into 2015 after that?
We have the very positive trend for Gold with Higher Lows and Higher Highs in place after November 2014. Everything is manipulated these days, but China buying more Gold than annual production now is very encouraging. ZH reports on another easing in China, which should support Gold and Copper prices. Copper was rebounding very strongly from the oversold condition last week, China's manufacturing data was sighted as the reason and front-running of this PBOC move could be the real one. Everybody is easing these days and only FED is talking about the FED rate hike. We need Gold breaking above $1,300 to bring interest back into the Gold projects like TNR Gold's Shotgun Gold. Higher copper prices will bring more visitors to Los Azules Copper project, hopefully our partner Rob McEwen will be busy with tour guiding in Argentina this year!
"Rob McEwen was presenting at BMO Capital Markets conference this week. It is the very interesting presentation and you can find it on the McEwen Mining website. The most interesting for TNR Gold was his comment on the recent situation in Argentina. He sees "the glimmer of hope" with the coming elections in October later this year: "Producers are making their enquiries about the Los Azules Copper project and one of them is on the property now."
Please read carefully my legal disclosure and do not get very excited or make any investment decisions based on this public information from Rob McEwen. I personally think, that it is the very encouraging update from Rob on Los Azules Copper status. His view on Argentina and the changing mining landscape confirms the Yamana Gold and Goldcorp news we have discussed before. There is a long way from the any visit on the property to the signed contract, but magnitude of Los Azules Copper will speak for itself one day - you can find more information on TNR Gold website.Higher copper prices will be the catalyst here and today's news from China has ignited 2% rally in very oversold Copper. We will see soon whether it becomes the sustainable trend. As Rob has mentioned: "This is the time to look at valuations for the best projects." Read more."