"As each new form of data storage comes on the scene, the market is at first enamored with its compactness, convenience and hoped-for data longevity. But invariably, the reality of physical vulnerability and a limited lifespan remains. Eventually, all media fails, but Cloud backup is forever." Continue reading →
"According to WGC there is renewed interest in gold due to its falling prices, which has brought total purchases of gold jewellery, bar and coins to 1,083.2 metric tons. Jewellery demand reached its highest level in 5 years, increasing by 37% to 576 tonnes. Chinese demand was up 54% compared to the same period last year, while India bought 51% more gold ornaments than in 2012. Bar and coin investment surged by a significant 78% across the world and topped 500 tonnes in a quarter for the first time. The WGC statistics come on the heels of India’s recent measures to curb gold purchases because it is the most costly non-essential item that the country imports." Continue reading →
"The top buys in the PM sector in my view are SAND, ABX, Goldcorp (GG), Yamana Gold (AUY), TAHO, SILJ and SLW. The top performer since the June 26 bottom has been FNV, a gold and energy royalty company with no debt and $900 million cash and equivalents. They can fund distressed miners and then sell their inexpensive gold into a rising market. They have excellent management and are a top pick. and should be strong going forward, as should Eldorado Gold (EGO) which has producing sites in Turkey and China and sites nearing production in Greece and Romania. Like them, SSRI and IAG remain good choices to buy on a dip with limit orders." Continue reading →
"A price rally inspired speculators to build bullish positions in precious metals futures and options traded on the Comex division of New York Mercantile Exchange and the Nymex, confirming many market participants’ expectations that speculators shed short positions when prices rose. The gains in the data released Friday by the Commodity Futures Trading Commission came via a mix of short covering, that is buying back of previously sold positions, and newly added long positions as noted in both the disaggregated and legacy reports. In copper, speculators sheared short positions, and [..] turned net-long for the first time since February." Continue reading →
"The resource sector has had a sober awakening, and now we see many companies changing their priorities from expansion to profitability, which depends on many parameters in addition to grade. As for Peak Gold, if that does indeed turn out to be behind us, the big, bulk-tonnage low-grade deposits that are falling out of favor today will become prime assets in the future. It'll either be that or go without. Times may be tough, but the story of the current gold bull cycle isn't done being written. The better companies will survive the downturn and thrive in the next chapter. Identifying these is the ongoing focus of our work." Continue reading →
"Spain's central bank called for a suspension of the minimum wage in selected cases, saying a year-old overhaul of labor laws had made the economy more competitive but failed to encourage hiring. The Bank of Spain's recommendation, though not binding on the conservative government, reflects growing concern among policy makers about the country's 27% unemployment rate. Many economists have called for offering lower wages to younger workers; more than half of the job seekers under age 25 are out of work. Germany's minijobs program pays workers up to €450 per month ($592), far less than Spain's legal minimum of €645." Continue reading →
"Washington already has the nation's highest state minimum wage at $9.19 an hour. Now, there's a push in Seattle, at least, to make it $15. That would mean fast food workers, retail clerks, baristas and other minimum wage workers would get what protesters demanded when they shut down a handful of city restaurants in May and others called for when they demonstrated nationwide in July. So far, the City Council and mayoral candidates have said they would consider it in the famously liberal city. One said, however, that it may not be soon." Continue reading →
"Plain clothes officers and a dog squad swooped on the singer and his crew's luggage as they unloaded on the curb of the airport in Fort Lauderdale, Florida. TMZ reports law enforcement did not decide to randomly search the luggage but were instead responding to a tip off. According to the site: 'The reason cops searched the bags is because they received an anonymous tip someone in Justin's party had drugs in their luggage. 'Justin's bags, along with the bags of his entourage, were searched. Cops found nothing.' This is not the first time police have searched Justin and his crew." Continue reading →
"During a radio interview, the host asked Bieber about the law, explaining how it would make streaming a felony, and his response was that Klobuchar 'should be locked up,' a point he reiterated a few times. They then go on to discuss it a bit, and Bieber talks about the importance of being able to upload and stream videos and to perform other people's songs. He talks about how people 'need the freedom' to perform songs. He also notes that it's 'awesome' when others perform his works." Continue reading →
"With crypto currency like Bitcoin & Litecoin, a grower can sell his or her strains and concentrates to a dispensary using Bitcoin or Litecoin, removing the large amounts of cash on site at the dispensary as well as the growers money is now safe on the blockchain, before they even leave the site of the trade. So this way no law enforcement encounter nor thief can take away the money involved with the grower or dispensaries trades. In the same way the dispensary can now accept Bitcoin & Litecoin from their patients for their medicine, removing the large amounts of cash from the site of the dispensary." Continue reading →