Long Position on Silver and Gold?

[roberth]

FYI I read this but I need to read it again and digest it.

http://chicagoboyz.net/archives/55042.html

Jamie Dimon of JP Morgan is, IMO, one of the more thoughtful of the financial industry CEO’s. In his annual letter to shareholders, he devotes considerable space to the current situation of the United States–our assets, our problems, and potential paths for improvement. The public policy section of the letter starts on page 32.

https://www.jpmorganchase.com/corpor...areholders.pdf

He talks about the explosion in student loans, workforce participation, infrastructure, capital and skills emigration.

[Aloha_Shooter]

Thanks for posting this. Dimon is a smart guy and I wish he had more influence with the White House during the Bush/Obama years instead of Goldman-Sachs alumni like Geithner. I agree throughly with his summary on Brexit (though he has much more experience and info on this kind of thing than I do).

Regarding Brexit, a key concern is to make sure our company is prepared to support our clients on day one – the first day after the actual Brexit occurs, approximately two years from now.

For example, underwriting debt and equity, moving money and accepting deposits, and safeguarding the custody assets for all of our European clients, including many sovereigns themselves. We must be prepared to do this assuming a hard exit by the United Kingdom – it would be irresponsible to presume otherwise.

While this does not entail moving many people in the next two years, we do suspect that following Brexit, there will be constant pressure by the EU not to “outsource” services to the United Kingdom but to continue to move people and capabilities into EU subsidiaries.

In particular,

We hope that the advent of Brexit would lead the EU to focus on fixing its issues – immigration, bureaucracy, the ongoing loss of sovereign rights and labor inflexibility – and thereby pulling the EU and the monetary union closer together. Our fear, however, is that it could instead result in political unrest that would force the EU to split apart. The unraveling of the EU and the monetary union could have devastating economic and political effects. While we are not predicting this will happen, the probabilities have certainly gone up – and we will keep a close eye on the situation in Europe over the next several years.

His essays on globalization are similarly educated and nuanced ... and honest.

[MrPrena]

Yeah..... JamieDimon is not thoughtful guy at all.
HE was protege of Sandy Weill.

[parabellum9]

Silver is up today to about 18.60/oz, and its up about 9.80% for the last 30 days. Uncertainty is up, precious metals are up...
Steelmakers like US steel were down around 8% today, so precious nonGold will drop in my view, in the short-term...
On the flipside the 10 Year Treasury note trades at a 2.38 yield, whichmakes it cheaper for the speculators to dump paper and go for silver/gold.

Dunno...You can lose money in precious metals if you can't hold them forever. I have...because I bought at the top. So the more people talkabout buying silver, the more you need to be careful.
No matter what anyone tells you, you need brass balls to invest in commodities. I mean invest, like in invest a lot at once.
Never a bad idea to buy coins slowly though, and accumulate that overtime...
Just my $0.02

[roberth]

Oil prices are falling, just in time for summer.

However, the shale industry withstood the tremors and how. Cost cutting, innovation, increased recoveries and prudent management showed the resilience of shale industry. The break-even cost fell to as low as $45 a barrel. In synch with market realities, Shale oil returned with a vengeance. And, Saudi efforts to strip away and undermine the emergence of US in the oil field reached a massive road block.

http://www.oil-price.net/en/articles...-price-war.php

[roberth]

End of summer.

Oil is up a little but still not cracking $55 - https://www.bloomberg.com/energy

I found this recent article about the break-even price point for US oil production.

http://tennesseewatchman.com/2017/08...oints-further/

Ed Morse, Citigroup’s head of commodity research, told a Bloomberg television audience last week that OPEC’s position “is not sustainable over a long period. In the end, the markets are going to win, and [the winner] is going to be shale. If we’re in a $40 to $45 world, we’ll have enough drilling to add to the [world’s] surplus.”

Morse is reiterating the mantra sung for years: OPEC has long since run out of options and has all but lost its monopoly influence over world crude oil prices. If it reduces supply, prices go up, making U.S. frackers more profitable and inviting more capital in to expand production. If it increases supply, the lower prices cut further into each member’s cash flow, forcing them to continue to deficit spend without gaining any advantage over the Americans.

The breakeven point for U.S. frackers has been estimated to be between $40 and $50 a barrel. On Friday U.S. crude oil closed at $49 a barrel on the New York Mercantile Exchange (NYMEX).

[roberth]

I was wondering why oil was climbing besides the normal push for home heating oil back east. This is some of it.

http://www.oann.com/oil-extends-gain...-cut-oil-flow/

Turkish President Tayyip Erdogan repeated a threat to cut off the pipeline that carries 500,000-600,000 barrels per day (bpd) of crude from northern Iraq to the Turkish port of Ceyhan, intensifying pressure on the Kurdish autonomous region over its independence referendum.

Effing turks.

[Great-Kazoo]

I was wondering why oil was climbing besides the normal push for home heating oil back east. This is some of it.

http://www.oann.com/oil-extends-gain...-cut-oil-flow/



Effing turks.

Is it Istanbul, Or Constantinople ?

[BladesNBarrels]

Is it Istanbul, Or Constantinople ?

A rose by any other name?

Byzantium, Constantinople, and Stamboul, today Istanbul

[MrPrena]

Is it Istanbul, Or Constantinople ?

A rose by any other name?

Byzantium, Constantinople, and Stamboul, today Istanbul

I bet Great-kazoo's geography or history book has ottoman empire written in that region/area.