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Our regular Saturday slot of the last five days' worth of action in the gold bullion ETF (GLD), the silver bullion ETF (SLV), the miner ETF (GDX), the junior miner ETF (GDXJ) and the copper ETF (COPX).
A losing week for all the squiggly lines we follow. Hardly a disaster week, but a loser all the same. Notably, the worst of the bunch was the gold miner producer ETF (GDX), with its first real retreat since the Bouncing Bernanke QE3 announcement days. The others, all around a point off for the week.
Anglo American (AAL.L) (AAUKY) being kicked out of Venezuela and its nickel operation to be nationalized
Setty has the exclusive right here. Go read for yourself, but here's how his scoop kicks off:
"Anglo American has a nickel mine in Venezuela. A month from now, from what I hear, that won’t be the case. The concessions now being mined expire..." continues here
...the US Dollar (USD) Chinese Renminbi/Yuan (CNY) exchange rate, last five years:
As the FT notes, it's the highest in the last 19 years this morning.
Peru central banker? Easy Life! The board met again today and decided it was best not to fiddle with the benchmark interest rate of the country. For the 17th month running.
Here's a US justice dept NR headline dated today, October 10th:
"Manhattan U.S. Attorney Announces Seizure Of Over $31 Million In Connection With An International Drug Trafficking And Money Laundering Scheme"
"...today announced the seizure of over $31 million from nine bank accounts in the United States, which are alleged to have been connected to an international money laundering scheme run by a drug trafficking organization operated by members of the Sanchez-Paredes family (the “Sanchez-Paredes DTO”), a family that Peruvian law enforcement authorities have been investigating since the early 1980s."
"For example, the Sanchez-Paredes DTO owns two mining companies, CIA Minera Aurifera Santa Rosa SA (“Comarsa”), and CIA Minera San Simon (“San Simon”), which purport to be in the business of mining gold, but are believed to be in the business of producing cocaine. In March 2007, Peruvian authorities seized approximately 125 tons of calcium oxide, a chemical used to both mine gold and produce cocaine, that were later identified as having been purchased by Comarsa and San Simon. Comarsa’s mining records show that on numerous occasions, the amount of calcium oxide it used did not correspond with the amounts needed to process gold. This suggests that Comarsa is not actually involved in the business of mining gold, but rather in the business of producing cocaine."
In a shocking development, the world notices that Venezuelans resident in Miami are not a representative pool of their fellow nationals
In response to a legal request submitted to Google, we have removed this post. If you wish, you may read more about the request at LumenDatabase.org.
...Ronaldinho Gaucho's goal, October 6th 2012, is one of them.
If you only watch one goal being scored this year, make it this one.
And about his emotions afterwards: His stepfather died the day before the match and he nearly didn't play due to the news. Instead he did and scored three goals in the 6-0 win.
"This book is the culmination of these seven years of study, bordering on obsession. Just as I saw the financial crash of 2008 coming, I now see another one, even more calamitous, headed our way; only this one has serious political ramifications as well. But now, as then, not one high-profile politician, economist or journalist seems to "get it" - because not one of them have correctly identified the cause of our problems.
"I had never thought, before, about the nature of money. I never realised that there is a direct link between what we use as money and liberty, honesty and efficiency. It is in money – the blood of an economy – that our salvation lies.
"Support this book, and I’ll explain all"
"Readers of this blog know that for the past few weeks, we (mostly me, really) have raised serious doubts about Datanálisis’ poll predictions. At the same time, we relied on Consultores 21′s projection that Capriles was ahead.The results were a clear endorsement of Datanálisis, who predicted the outcome pretty nicely, and a serious embarassment to Consultores 21.So in that regard, kudos to Datanálisis and their team. They can be proud, and I apologize for criticizing them."
With 90% of ballots counted, Chávez has 54.42% of the valid vote, Capriles: 44.97%. The end.
And now allow me to re-post IKN's final thought on the Venezuela bunfest, dated September 21st 2012. the bit highlighted in red is highlighted in red.
We're now two weeks and a bit from the October 7th vote that will decide whether Hugo Chávez Frías keeps his job or whether Henrique Capriles Radonski gets a new job. As the media bullshit chatter is already ratcheting up and is going to get a lot worse in the days left, IKN is therefore going to keep away from all the false polemics and liberty/tyranny/democracy/dictatorship/freedom/fair/fraud tosh and nonsense that your media channels of choice are bound to subject you to and make this post today our final comment on the subject until October 8th minimum. So for the record...
- I think Chávez is favourite and if you wanted a book number from me, I'd go for something around 75% chance. Purely seat-of-pants subjective stuff. Put another gun to my head and I'd go for Chávez securing 55% of valid votes come the big day. Again, guesstimate.
- However, this means that Capriles has about 24% more chance than any other candidate running against Chávez in recent years and his campaign shouldn't be written off. Henrique Capriles has run a good campaign, a smart campaign and has played to his strengths more than trying to attack Chávez on any given occasion. That type of slugfest would have favoured Chávez much more, so Capriles' strategic decision to keep away from the insult-swapping type of campaign has been a good one. Bottom line: I'd consider it a surprise if he wins, but not a stunning surprise.
- But one 100% dead cert is that media coverage and anal yst comment is going to be all-but insufferable. World-and-his-spouse all suddenly experts on the intricacies of Venezuelan politics? Why of course!
- The final confident prediction is that on October 8th, the losers will be calling fraud. That, my fine feathered friends, is a given.So, until October 8th and if you really have the right type of masochistic streak that insists you keep up with the BS show, Two Weeks Notice is as good a filter as any, I think.
For me, looks like the average of all was better than any particular.
UPDATE: We now have an official result from the CNE: Chávez wins. With 90% of ballots counted, Chávez has 54.42% of the valid vote, Capriles: 44.97%. The end.