Friday, November 6, 2015

US Debt Rockets Up $339 Billion in a Single Day+Gold Demand Up

--from the Schiff report Nov.13/15
"Global investment demand helped drive the overall increase. It surged 27% to 230 tons, primarily on the strength of gold bar and gold coin purchases. In the US, bar and coin demand hit the highest total in five years, up a whopping 207% to 33 tons. Gold Eagle coin sales are at the highest level since the financial crisis.
Europe and Asia also saw a healthy increase in investment demand. It grew by 35% in Europe and 70% in China. India saw its first investment sector demand increase since the third quarter of 2014, up 6% to 57 tons.
A report in the Telegraph described China’s investment in gold as a “buying spree” as “investors sought to shelter themselves from further market volatility.”
Central bank gold purchases also boosted overall demand, according to the report:"Central banks remained a significant source of demand, and were net buyers for the 19th consecutive quarter. Purchases by official sector institutions reached 175 tons a level almost matching the record highs in Q3 2014, as the net widened to include new reports from countries such as China and the UAE.” 

US Debt Rockets Up $339 Billion in a Single Day

  BY    6   1
On Monday, the United States national debt increased $339 billion.
In one day. Just like that.
What caused the sudden spike?
That same day, President Obama signed a bill into law suspending the debt ceiling until March 15, 2017. That allows the government to once again borrow, free from the constraints of an $18.1 trillion ceiling.
As USA Today reports, the bill not only suspended the debt ceiling, it also set the federal budget for fiscal years 2016 and 2017, and lifted budget caps to boost spending for military and domestic programs by a total of $80 billion over two years.
From a political standpoint, the budget deal avoided a showdown between Obama and Republicans on the debt ceiling and erased the threat of a government shutdown – at least for the next two years.
In other words, Congress and the president kicked the can down the road.
“It is a signal of how Washington should work,” Obama said.
Free of its constraints, the federal government immediately set about piling on some more debt. According to a website that tracks the debt, the US government owed $18.153 trillion last Friday. On Monday, the number stood at a cool $18.492 trillion.
The sudden increase has to do with what are known as “extraordinary measures” that keep the government afloat once it hits the debt ceiling. These include delaying issuance of certain debt instruments, suspending investments in federal employee pension funds, a moratorium on deposits from state and local governments, and drawing down a $23 billion currency stabilization fund.
According to the Washington Examiner, the Bipartisan Policy Center estimated that the government had somewhere around $370 billion worth of extraordinary measures to use once it butted up against the $18.1 trillion ceiling earlier this year.
Extraordinary measures allow the government to limp along temporarily. Once the cap is lifted, the government scrambles to mitigate the effects of the extraordinary measure, and viola – massive, virtually instantaneous debt increase.
So what does this mean practically speaking?
As Peter Schiff pointed out recently on Fox Business’ Closing Bell with Liz Claman, “The cost of government is not what it taxes, but what it spends.”
Allowing the government to blow past mythical debt ceilings may enable politicians to avoid uncomfortable political clashes, but in the real world, it merely facilitates a dysfunctional economic policy of spending and borrowing and spending and borrowing.
As both David Stockman and Peter Schiff have pointed out, that US debt is a massive bubble waiting to burst. Stockman made the case recently on CNBC.
We’re going to have a shutdown sooner or later. We’re on the fiscal Titanic, and we’re going to hit something hard and immoveable one of these days. We’re in month 75 of this so-called recovery. Congress has squandered the entire time, done nothing about the long-run fiscal outlook. If anything, they’ve basically been trying to find ways to get out from under the caps they put on themselves in 2011.”

Monday, October 26, 2015


Vantex appoints Laverdiere CEO, Morissette resigns

2015-10-26 16:05 ET - News Release
Mr. Gilles Laverdiere reports
Vantex Resources Ltd. has made corporate changes. Gilles Laverdiere was appointed as new chief executive officer of Vantex following the resignation of Guy Morissette.
Mr. Laverdiere has been a consulting geologist to exploration mining companies since 2013. From 2011 to 2013, he was senior consulting geologist for Merrex Gold Inc., where he was in charge in developing a gold project in Mali within a joint venture with Iamgold Inc. From 2006 to 2010, he was a consulting geologist in charge of planning and supervising drilling projects in northwestern Quebec and writing NI 43-101 geological reports. From 1998 to 2006, he was CEO of HMZ Metals Inc., where he acquired mining assets in China and listed the company through an initial public offering on the Toronto Stock Exchange. From 1985 to 1997, he has been part of senior management and on the board of many public mining companies, where he evaluated mining prospects, and negotiated and structured financing for various mining companies in Canada, the Philippines, Brazil and Nevada. From 1978 to 1984, he was a geologist with a focus on gold exploration in northwestern Quebec.
Wayne Carlon as vice-president of business development (Oct. 20) and Denis Tremblay as chief financial officer and corporate secretary (effective Oct. 31) also submitted their resignations. The board of directors of Vantex wants to thank them and Mr. Morissette for many years of loyal services and wishes them the best in their future endeavours.
Exploration update
Vantex has completed an MMI soil geochemistry survey over the Morriss and Hurd showings on the Galloway property. A strong bull's eye gold anomaly was detected over the Morriss showing, and another one was detected about 600 metres to the north. Since the MMI geochemistry survey method seems to unveil buried gold deposits on the property, the company has decided to extend the survey on the project. On the Hurd showing, two generally north-south-striking gold anomalies were outlined. One of them is related to the gold intersection in hole VDH-12-59, which intersected 2.68 grams per tonne gold over 9.0 metres. The other gold anomaly remains to be tested by drilling.
Mr. Laverdiere, PGeo, is the qualified person as defined under NI 43-101, who has reviewed and is responsible for the technical information presented in this news release.

© 2015 Canjex Publishing Ltd. All rights reserved.

Saturday, October 10, 2015

Mining Stocks Could Take Off Without a Rising Metals Price

One of the most researched individuals when it comes to gold and silver has just been interviewed on our show – his name is Jordan Roy-Byrne. He is someone who combines both technical and fundamental analyses in the information that he shares for what he believes to be a very effective way to approach the markets. He is someone who has been featured on major news sites, including CNBC, Barrons, Financial Times, Kitco, and more. He is a renowned speaker at investment conferences and runs the site
He points out in this interview that mining stocks are very ripe to have a turnaround, being that we are four years into the worst bear market these companies have seen. Jordan brings to the discussion that the miners will likely precede the bull market rally of the precious metals, and could take off without the rising prices of the underlying metals, being that the miners have already been so heavily beaten up. Mining stocks did peak before the metals did in the most recent bear market, followed by the precious metals peak in 2011. So in theory, mining stocks could precede the bull market in the metals before the metals actually rally. There is historical precedence for this, as it did happen in 2001, when mining stocks took off before the metals.

QE in China Drives Silver Bullion Price & Asians keep buying PM's

see video item:

Tuesday, May 26, 2015

THE RUN TO PM's OVERDUE and Precious Metals Physical Shortage Coming

Precious Metals Physical Shortage Coming

As The Wealth Watchman recently proclaimed, the COMEX is not a significant delivery mechanism for gold and silver and thus China does not have a reason to break the COMEX when they get just as much Gold every 30 days as the COMEX has in entirety. China will not go for real price discovery until all supplies are exhausted and they can't get physical metal. As the video points out, India is becoming ever more important in this gold/silver physical supply and price discussion. He says “India will help free silver from the rigging.”
SRSrocco also reports India sucking up US Silver Exports, jumping from zero to 39 tons in May and a whopping 75 tons in June this year! This is more than the average export from January to April of which 90% went to our northern neighbor Canada. India's silver imports surged 61% in the first five months of this year.
Further exemplifying the coming shortage is the fact that JP Morgan just lost in one day 45% of it's registered gold inventory in the COMEX. They now hold the equivalent of just 1/3rd metric ton or little over ten thousand ounces. For silver the current COMEX drain is more than double the monthly decline rate experienced from March 2010 to July 2011. Registered inventories are down 31% from 70.5 Million Ounces in April to 48.6 Million now. With these facts and the Federal Reserve decision, no wonder we saw Silver spot price shoot back to over 15 dollars per ounce in such a short period this week.
Wait times for certain retail bullion products are reaching upwards of 2 months. Because of this, investors are buying more gold bringing Quarter 3 sales of Gold Eagles three times greater than Quarter 1 or 2 this year.
Even Mike Maloney of is reporting delays of 8 weeks from mints that they want to use for silver products. In regards to Gold, Mike also revealed that there's 252 ounces of claims for every 1 ounce of gold in the COMEX.

"Gold demand is outpacing supply while production is declining. Both the Chinese and Indian governments are purchasing gold in unprecedented quantities and encouraging their increasingly well-off citizens to accumulate bullion. Gold demand has also surged from central banks, which have been net buyers since 2009. All of these realities will help keep the value of this precious metal high into the foreseeable future."
"The Chinese currency the Yuan is still pegged to the U.S. Dollar at a level that undervalues it substantially, provoking criticism of this exchange rate policy. The world still believes that China cannot survive and prosper without the West to fund its development, and so most analysts are focused on a hard landing for China.
Nevertheless, what is really happening is that new currency swaps are forming the backdrop of Chinese metals accumulation and production. In essence, China is gradually amassing the lion’s share of global wealth in the form of hard assets.
An amusing quote posted by Tyler Durden at sums this situation up rather well:
"While the insolvent "developed world" is furiously fighting over who gets to pay the bill for 30 years of unsustainable debt accumulation and how to pretend that the modern 'crony capitalist for some and communist for others' system isn't one flap of a butterfly's wings away from full on collapse mode, China is slowly taking over the world's real assets".
see more:

Monday, February 16, 2015

Petromin Resources Ltd. [PTR]

A small O/G company with a big investment in Chinese shale gas,
producing properties in Alberta, and advanced patented technologies.
A lot of potential upside here going forward...on SALE now.

Petromin Resources Ltd. is a progressive international Petroleum
and Natural Gas Exploration and Production company listed Tier 1 on the
Toronto Venture Stock Exchange.
The Company is currently focused on developing 655 sq km of coalbed methane (CBM)
 land in Western China along the Southern Junggar Basin (in China).
Alongside significant international resource development initiatives in China and Kuwait,
the Company’s core operations include five oil and gas producing properties in Alberta
Canada along the Western Canada Sedimentary Basin.

Petromin is leading the way in technologically innovative methods designed to significantly improve reserves of existing oil pools (EOR) and to enhance the recovery of coalbed methane (ECBM) while significantly minimizing greenhouse gas (GHG) emissions.

(PTR has a 15-20% stake in TWE)
the claim is for 1.8 billion dollars;
PTR owns 15-20% of TWE stock,
which could propel this 2c. stock to be a rare 100 bagger!

VANCOUVEROct. 5, 2015 /CNW/ - Petromin Resources Ltd is pleased to announce that it has elected to participate in the completion of the MIDDLE ELLERSIE ZONE in the 11-35-39-28W4M well located in the Joffre field.
Upon completion, the well will be placed on production through the existing surface equipment and gas gathering and plant system. Petromin retains a 16.667% working interest in the section including an adjacent gas and oil well in LSD1-35-39-28W4M.
Vesta Energy Ltd. will operate the well. The Company also retains a 16.667% working interest in the Duvernay Rights on the section in the center of the east basin Duvernay Play. The Duvernay in general is considered to be a world class emerging play with reserve estimates by the former Energy Resources Conservation Board to contain 443 trillion cubic feet of gas and 61.7 billion barrels of oil.

Monday, February 2, 2015

Vantex Acquires 27 Mining Claims in the Bousquet Township and Receives a $75 000 Cash Payment From Sale of NSR

LA PRAIRIE, QUEBEC--(Marketwired - Feb. 2, 2015) - 
The management of Vantex Resources Ltd. (TSX VENTURE:VAX)(FRANKFURT:UD7A)(ALP:VAX) announces that it has acquired from Hecla Mining Company (Hecla) a 100% interest in a mining block consisting of 27 mining cells located in Bousquet Township as well as receiving a $ 75,000 cash payment in consideration of the totality of the royalty Vantex held in the Heva property.
The Heva property was sold to Aurizon Mines before the merger with Hecla (see press release of 27 February 2008).
This new block, integrated with the other blocks recently acquired by Vantex, will form the Lac Bousquet property and will consist of 79 cells covering an area of about 1,500 hectares.
Many gold showings of importance are present on the Lake Bousquet property. These showings are associated with a splay of the Cadillac Fault, one of the most prolific gold faults in the world, and consist of a swarm of quartz veins contained in sediments or in felsic intrusives along the fault.
Several gold intersections obtained in drilling and channel sampling with gold grades of 3.73 g/t Au over 5.5 m and 5.91 g/t to the 3.0 m were intersected on the property.
The presence of gold-bearing structures associated with the CadillacFault and hydrothermal alteration give an excellent gold potential to this property. Moreover, the immediate gold producers near Vantex are IAMGOLD (Westwood Mine) and Agnico-Eagle (La Ronde Mine). There are also many former gold producers in the area such as the Doyon and Mouska mines. More than 12 M oz of gold were produced within a radius of 10 km from the property,
A comprehensive geological compilation and a ground magnetic survey will be made on this new project in the coming weeks.

Exploration update
Vantex has completed a MMI soil geochem survey over the Morriss and Hurd showings on the Galloway property. A strong bulleyes gold anomaly was detected over the Morriss showing and another one was detected about 600 metres to the north. Since the MMI geochem survey method seems to unveal buried gold deposits on the property, the company has decided to extend the survey on the project. On the Hurd showing, two generally north-south striking gold anomalies were outlined. One of them is related to the gold intersection in hole VDH-12-59 which intersected 2.68 g/t Au over 9.0 metres. The other gold anomaly remains to be tested by drilling.