President Enrique Pena Nieto's fiscal reform bill is striking fear in the hearts and minds of mining executives operating in Mexico. Attached to the 2014 budget, the bill could be signed by as early as mid-November. Within it, the Mexican government has proposed a 7.5% mining royalty as a percentage of EBITDA. Once considered one of the most mining-friendly destinations, this proposal has industry executives singing a different tune
With the world continuing to face great uncertainty, today a man who has been involved in the financial markets for 50 years, and whose business partner is billionaire Eric Sprott, told King World News that “we are now in a historic end game.” He also spoke warned about the West experiencing “a collapse to end all collapses,” and also discussed what this all means for key markets such as gold and silver. Below is what John Embry had to say in this powerful interview.
Embry: “The West is headed into
By Hard Assets Alliance Team
With the S&P 500 in uncharted territory, mainstream financial media outlets have been busy cherry picking economic statistics to explain away the market's puzzling historic ascent. Like preceding surges,
In the aftermath of significant volatility in both the gold and silver markets, billionaire Eric Sprott told King World News there is a stunning surprise in central planners’ war against silver. The Canadian billionaire also spoke about the enormous implications of this surprise for silver investors around the world. Below is what Sprott, who is Chairman of Sprott Asset Management, had to say in part III of this remarkably powerful interview series.
Eric King: “Eric, for the silver bulls that are out there, what about the silver market?”
The euphoria that heralded the summer rally in silver prices has now dissipated and is as good as dead as silver prices drift lower. Silver made a valiant attempt to breach the $25.00 level in August but could not maintain its momentum and has since drifted lower to trade at around $21.00/oz today. Its big sister, gold, has also ran out of steam having peaked at around $1420/oz, it is now struggling to get above $1300/oz level.
Since the heady days of almost $50.00/oz, silver has suffered through a number of false dawns
On the heels of the chaos in 17 states which resulted from the EBT card failures, and the ongoing US government shutdown, today 40-year veteran, Robert Fitzwilson, warns, “The failure of the food stamp system in 17 states yesterday and the reports of outbreaks of hostility gives us a glimpse of our fate as our collective winter approaches.” He now believes our current system is finished and we can kiss the dream goodbye. Fitzwilson, founder of The Portola Group, put together another tremendous piece below for KWN readers around the world
Precious metals have surged back in the last few days as the gravity of the situation in Washington hit investors. Equity market participants who seemed so sure a compromise was at hand on Friday afternoon, were disappointed Monday that no deal had been achieved. With the S&P at post-shutdown lows, it seems precious metals have caught a bid. Since the start of the shutdown gold is up almost 3% and silver has appreciated by nearly 6% as investors have ruminated on the implications of a default by the US Government.
With silver falling by 26% so far this calendar year
In this mornings mail bag we have this interview with Jim Goddard and David Smith of The Morgan Report very kindly sent to us from our good friend David Morgan whose contact details are below
The Precious Metals’ Bullish Case is ‘Written in the Rocks’
David H. Smith/Silver-Investor.com
(Source: HoweStreet.com 9/24/13)
Jim Goddard: My guest is David Smith. He’s the senior analyst for The Morgan Report, which you can find online at silver-investor.com. Welcome to the show, David.
David Smith: Good to be back, Jim.
JG: The U.S. Fed has made what I call the non-announcement. They didn’t do anything. That spurred the markets momentarily, but now what’s the state? People are saying they sent both a bull and a bear message. Where do we sit, David?
With continued volatility in key global markets, today King World News is pleased to share a piece of legendary technical analyst Louise Yamada’s “Technical Perspectives” report. Yamada is without question one of the greatest technical analysts Wall Street has ever seen. This information is not available to the public and we are grateful to Louise for sharing her incredible work with KWN readers globally.
The portion below has two incredibly important charts that cover the metals and mining share markets