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Clif talks about 5G from 1:13:13 and they talk about Antarctica from 1:25:50

SIL / Global X Silver Miners ETF Weekly ... All : 10-yr : 5-yr : Fresnillo / FRES.L - World's Largest Silver Miner ... update :

SIL / Global X Silver Miners ETF Weekly ... All : 10-yr : 5-yr : Fresnillo / FRES.L - World's Largest Silver Miner ... update :

NHK / Nighthawk Gold ... update : Jun 13, 2018 Nighthawk Reports 24.4% Increase to 2.61 Million Inferred Ounces of Gold at Colomac Nighthawk Gold Corp. ("Nighthawk" or the "Company") (TSX: NHK) (OTCQX: MIMZF) is pleased to report an updated Inferred Mineral Resource estimate, of 50.305 million tonnes with an average grade of... Macquarie Research: Outperform rating & $1.20 target for NHK posted June 21, 2018 - by stockmaster989 According to Macquarie Research: http://docdro.id/I32MWrn 14 June 2018 Nighthawk Gold Rating: Outperform 12-month target: C$ 1.20 12-month TSR %: +144.9 ...read more

PRESSURE on China... & other Emerging Markets CN:ShComp ... 3-yr : India:Sensex ... 3-yr : PH:PSEI ... 3-yr : WARNING ! De-coupling Underway, as a strong US economy raises: inflation & interest rates Well over a month ago we warned our followers of a “capital market shift” that was taking place in the global markets. Nearly 3 months before that time, we warned that China's economy was about to enter a sustained economic downtrend cycle that could be dangerous to the global markets. Today, we offer further evidence that the global markets are, in fact, shifting away from a price correlation to the US Majors and this move could be a warning sign that emerging markets and global markets could lead the world into an extended stagflation cycle. Think about this for a minute, as we briefly discussed in our last article, what would happen if the US markets continued to rally on a strong economy with strong consumer participation while the US Fed was slow to raise interest rates while supporting a transitional shift of the US economy towards more manufacturing, technology, and expectations? How would the world's economies react to such a shift given their current economic cycles and opportunities? Would they be able to keep up with the US or would they start to trail further and further behind the US? It is our belief that any continued strengthening of the US economy could, in fact, present real dangers for many of the world's economies simply because they may fall completely out of sync with the US stock market as their currencies, economies and consumer expectations fail to keep up with the US capabilities. How all of this will play out over the next few months/years is our concern. We know it will result in some tremendous trading opportunities for investors, but it could also create a new class of undervalued assets that could present some real long-term opportunity over the next 20+ years. . . . What about India & SE Asia? Our custom India index has shown relatively FLAT recent price activity compared to the SPY. Overall, our opinion is that India has yet to completely diverge from the US majors and we urge all investors to be aware that any further price breakdown in this India custom index will warn that the Indian/SE Asian economies are losing their battle to stay correlated to the US markets going forward. Right now, there is evidence of weakness in the India custom index – yet there are limited signs of a broken correlation to the US markets. It certainly shows that this price disconnect could be happening and likely is happening – yet we don't have clear signs that this custom index is breaking to new lows (yet). > more: https://www.marketslant.com/article/warning-all-investors-global-market-are-shifting-away-us-price-correlation PSEI vs. SPX & UKX ... update : Vs-SHcomp : SHcomp-Psei-Ukx : : SHcomp-Psei-Ukx : Stagflation? Nearly always BAD for Stock markets Inflation in the U.S. accelerated during May to the fastest pace in over six years, reports Bloomberg. The consumer price index (CPI) rose 0.2 percent from April and 2.8 percent from a year earlier. Average hourly wages, however, were unchanged from May 2017 when adjusted for inflation, which shows employees’ incomes were stagnate. The trend of no growth in real purchasing power for employees cannot go on forever. The first rounds of teacher strikes this past school year likely won’t be a onetime event or one sector of the economy shock. Labor markets are tight. Immigration labor is being choked off from participation in the future which should lead to increased Unit Labor Costs. Cornerstone Macro notes that Unit Labor Costs accelerated sharply in the 1970s driven by a jump in compensation gains which led inflation and gold during that decade. > http://www.kitco.com/commentaries/2018-06-18/SWOT-Analysis-Confirmed-Interest-Rate-Hike-Inspiring-Bullishness-in-Gold-Traders.html

Global HOUSING Valuations in Gold Gold: US$>GBP etc.............. $1,335 = L-885 : @1.51 :: $1,327 = L-948 : @1.40 :: Category / Value ----------------- Dec'10 : In Oz : in GBs :: Mar'18 : In Oz : in GBs :: %change UK House (H&N Index)... : L162,131 = 183.2 : 0.458 :: L219,748*= 231.8 : 0.580 :: + 26.6% London - (Rightmove)..... : L408,248 = 461.2 : 1.153 :: L631,651 = 666.3 : 1.666 :: + 44.5% US House (CSX20 x1,300) = 147.49 @ 09'10 x1,300 :: = 210.48 @ 03'18 x1,300 :: US House Price -------------- : $191,737 = 143.6 : 0.359 :: $273,624 = 206.2 : 0.515 :: + 43.5% HongKong (MMI x 10,000): 88.29 @10'10 :@ 7.78 :: 177.61 @ 03'18 :@ 7.85 :: HongKong Luxury Flat.. : HK$8.83M = 850.0 : 2.125 :: HK$17.8M = 1705 : 4.262 : +100.6% Makati-- (MakPr x 100m) : 102.29 @12'10 @ 43.8 :: 180.40 @ 03'18 @ 52.1 :: Makati Property in USD : $ 233.5K = 174.9 : 0.437 :: $ 346.3k = 260.9 : 0.652 :: + 49.2% ====== * > 227,871-Halifax, 211,625-Nationwide The 100%+ jump in HK property values (measured in Gold) was remarkable! Makati Condo prices were up just under 50% over the same period, just slightly more than London & the US 20 City average > more: "Gold Bars" (400 oz bars) can be used to Value Property, etc If you think that the Global property boom (measured in Gold) is ending, then it might be a good time tom buy some precious metals GOLD xx

Gold looks a better bet than UK property – here’s why Today we return to a subject that has been a favourite of mine over the years: UK house prices – but with a twist. We don’t consider them in the debased, devalued currency that is the pound. Rather, we measure them in the eternal currency that is gold. Comparing those two charts – house prices in sterling and house prices in gold – the story is quite different. When you look at the journey UK house prices have been on measured in gold, you also get a clearer idea of just how much sterling has been debased, particularly since 2008. Measured in gold, from 2005, house prices fell for six years, so that by 2012, at 150oz for the average UK home, they were briefly back to where they were in 1987. It’s astonishing. Even today, at 220oz for the average UK home, we are only at mid-1990s prices. here’s Greater London in gold. Where London has differed from the rest of the UK (perhaps with the exception of the likes of Oxford, Cambridge, Bristol and Brighton) is in the breathtaking rally it has enjoyed since 2012, whether in sterling or gold. The average London house went from 150oz to almost 450oz. From low to high it nearly tripled. The market got massively overheated by about 2015-16 and has since pulled back. We now have atrophy at the top of the market, thanks to George Osborne’s higher stamp duty, and central London, agents report, appears to have pulled back by 10% or 15%. In gold terms, we are back at 350oz. Unlike the rest of the UK, we are nowhere near the ("cheap") early 1990s levels of around 200oz. Where London goes next depends, to my mind at least, on the current chancellor. Stamp duty is punitively high: it’s 10% above £925,000 and 13% above £1.5m – even more for second homes. It’s killed the top of the market. But despite lower transactions levels, revenue to the Treasury is also high, so that will be a deterrent to any chancellor wishing to reduce it. If stamp duty stays high, London property heads lower. If it doesn’t, then the outlook is brighter. > Dominic Frisby: https://moneyweek.com/uk-house-prices-gold-a-better-bet-than-uk-property/

Triangle Broke to downside - but Prices may be recovering now SIL-vs-SLV ... update

Fresnillo - trying to bounceback... but still in a downtrend FRES.L ... 6mo : FRES.L vs. SLV & SIL ... update : 1173 x $1.326 = $15.55 / $15.50 = R-1.003 Ratio : SIL / SLV : $29.30 / $15.50 = R-1.89 Ratio : Fres/SLV : 1173.0 / $15.50 - R-75.7 Ratio : Fnlpf/SLV : $15.18 / $15.50 - R-97.9% Ratio : 1173 x $1.326 = $15.55 / $15.50 = R-1.003

PSEI : 7,098 - 163 : -2.25% ALI - : 37.05 -1.20 : -3.14% SMPH: 32.90 -1.60 : -4.64% !! MEG- : P4.43 -0.17 : -3.70% DMC- : P9.99 -0.21 : -2.06% SHNG: P3.34 +0.01 : +0.30% : 7.51% yield (helps stabilize!) BPI-: 90.50 -0.50 : -0.55% : 1.93% yield

EURo versus Gold etf's EUR vs GLD etc ... update EUR -etc ... 10d : GLD / Gold on its own ... update : ==

Emerging Asia Hit by Biggest Foreign Investor Exodus Since 2008 “A falling tide lowers all boats, it seems. Overseas funds are pulling out of six major Asian emerging equity markets at a pace unseen since the global financial crisis of 2008 — withdrawing $19 billion from India, Indonesia, the Philippines, South Korea, Taiwan and Thailand so far this year, according to data compiled by Bloomberg.” https://www.bloomberg.com/news/articles/2018-06-18/emerging-asia-hit-by-biggest-foreign-investor-exodus-since-2008 / 2 / Chasing Yield during ZIRP & NIRP Evidently Starved Human Brains of Oxygen. Now the Price Is Due See Argentina’s 100-year dollar-bond and emerging-market “turmoil” as the Hot Money flees. Let’s be clear: It’s not just Argentina. But Argentina is the most elegant example. The exodus of the hot money from emerging markets where cheap dollar-debts were used to fund pet projects and jack up leverage is – once again – in full swing. Cheap dollar-debt in emerging markets is an old sin that, like all old sins, is repeated endlessly. The outcome is always trouble. But during the act, it sure is a lot of fun for everyone. The exodus of the hot money is even gripping the non-basket-case emerging economies of Asia where it’s causing the worst indigestion since 2008. Bloomberg: Overseas funds are pulling out of six major Asian emerging equity markets at a pace unseen since the global financial crisis of 2008 – withdrawing $19 billion from India, Indonesia, the Philippines, South Korea, Taiwan, and Thailand so far this year. While emerging markets shone in the first quarter, suggesting resilience to Federal Reserve tightening, that image has shattered over the past two months. With American money market funds now offering yields around 2% – where 10-year Treasuries were just last September – and prospects for more Fed hikes, the bar for heading into riskier assets has been raised. “It’s not a great set-up for emerging markets,” James Sullivan, head of Asia ex-Japan equities research at JPMorgan Chase, told Bloomberg. “We’ve still only priced in about two thirds of the US rate increases we expect to see over the next 12 months. So the Fed is continuing to get more hawkish, but the market still hasn’t caught up.” > More https://wolfstreet.com/2018/06/18/chasing-yield-during-zirp-nirp-evidently-starved-human-brains-of-oxygen/

SECONDHAND Market in Makati - Data points Got some interesting data yesterday. Found a rare sight: a property agent with an office at street level on a nice Makati street (such offices are everywhere in Hong Kong, not in PH.) She told us that she specialized in renting out residential properties to Corporations and Expats. She also handles Buying and Selling properties in the secondary market. She was interested to show places like Rockwell (which have high prices & high commissions.) When we informed her that we were looking for something much closer to GB, and also cheaper, she said there is not much supply. We asked why, pointing out that there is a huge market for secondhand sales in Hong Kong and other gloabl markets. She said that the older places are typically owned by Filipinos who have large families, and will hold onto a property "for generations", with older people passing ownership on to children or relatives. She said that it might be easier to find newer buildings, like maybe five years old, where people had bought them with the idea of reselling at a profits a few years after completion. / 2 / : Shang Grand on Emporis The agent reported a big jump in 2nd-hand prices at Shang Grand. She said she had sold a high floor unit at over P250k per sqm! That's a big advance on the P150k psm level that I had heard prices were offered at 1-2 yrs ago. Even so, there was an older units (Century Plaza?) which had been sold at P114k psm late last year. (Interesting comments, & Food for thought!)

Hmm. That is bad. I had a problem once or twice with long delays on Cebu Pacific, but not recently. Which airlines were you using for the ex-Manila leg? No doubt, Clark may be used more for the long flights from Europe, since it should be more reliable

An Endless Loop of Ironies has been created 'But my emails': Hillary Clinton takes a swipe at Comey after IG report Rest assured, the irony is not lost on Hillary Clinton. The former Democratic presidential nominee responded with a stinging tweet to the release Thursday of the Justice Department inspector general’s report on the handling of the FBI’s investigation into Clinton’s use of a private email server and email address when she served as secretary of state. Hillary Clinton ✔ @HillaryClinton / re-tweet But my emails. Kyle Cheney ✔ @kyledcheney IG found that on numerous occasions, COMEY used a personal GMail account to conduct official FBI business, according to source briefed on the report. Specifically, Horowitz cited Comey’s decision to send a letter to Congress on Oct. 28, 2016, announcing that he was reopening the investigation into Clinton’s use of a private email server without first consulting officials at the Department of Justice. Clinton has remained steadfast in her insistence that Comey’s letter helped tip the election in Donald Trump’s favor. “I was on the way to winning until a combination of Jim Comey’s letter, on October 28, and Russian WikiLeaks raised doubts in the mind of people who were inclined to vote for me but got scared off,” Clinton said at a 2017 event titled Women for Women International. > https://www.yahoo.com/news/emails-hillary-clinton-takes-swipe-comey-ig-report-224957816.html === Let us assume for half-a-minute that Hillary is right, and Comey's "reopening" caused her to lose the election. Well, did not the American public deserve to know about Weiner's laptop & the important evidence it included? Surely, we deserve to know a whole lot more about what is in the "missing" emails, and the Criminality of the Clintons. It is good news for America, if bad news for Hillary, that Comey's cover-up of Clinton crimes did not full succeed. Keep reminding us, Hillary, how awful you were, and how much you relied on crimes to succeed, and lies & cover-ups to Hide your crimes.

SHANG STATS - (Dec. 2017 post on Stock Chat thread): Shang Properties - the stock is at a possible "pinchpoint" - big move ahead? PH:SHNG ... all-data : 5-yrs : 2-yrs : 6-mos : 10d / Last: P3.13 Looks poised for breakout above about P3.25, to P4.00, or higher OR: A fall below support just over P3.00 to possible support near P2.50-2.70. We should know in the next few weeks which way the break is. The dividend is a healthy 4.47% (Php 14?), and with an "earnings yield" of xx.xx% (that's the inverse of the 4.73 PE), it should be sustainable if earnings remain stable. ===== Top Shareholders 34.6% : Travel Aim Investment BV : 1,648.9M shs 30.8% : Ideal Sites and Properties : 1,465.1M 21.3% : PCD Nominee Corp. -------- : 1,011.6M 04.0% : SM Development Corp. --- : 0,189.6M === 90.7% : Top 4 shareholders : Shs OS: 4.76 Bn at 9/30/2017 x P3.13 = P14.9Bn / 50 = US$298 Million / Projects / --------- : St.: Units : Enterprise Center : Two Towers : P 1.092bn rental income in 2016 Shang Grand Twr : St Francis Shang. : One Shangrila Pl. : 64 : 1,242 sold out of? Shang Salcedo Pl : 67 : 0,749 : The Rise Makati-- : 59 : 3,044 : HorizonHm@Fort : Lux. 98 : ====== Year- : Revs. : E.P.Sh : Divs : %Erns /shsOS/ LTD.OS: ShEqty: NW/sh: YrEnd %-NW 2009 : 4.030B: 2010 : 2.798B: 0.--- 2011 : 3.589B: 0.222: 0.???: 00.0% /4.?? B/ 9.743B: 2012r: 5.406B: 0.346: 0.082: 23.7% /4.76 B/ 9.474B: 20.22B: P4.252: 3.040: 71.5% 2013 : 6.908B: 0.422: 0.110: 26.0% /4.76 B/ 10.24B: 21.73B: P4.564: 3.270: 71.6% 2014 : 7.612B: 0.574: 0.130: 22.6% /4.764B/ 20.70B: 23.8?B: P5.002: 3.300: 66.0% 2015 : 8.283B: 0.598: 0.155: 25.9% /4.764B/ 19.60B: 25.93B: P5.446: 3.130: 57.5% 2016 : 11.27B: 0.610: 0.165: 27.0% /4.764B/ 19.47B: 27.92B: P5.862: 3.250: 55.4% Year- : Revs. : E.P.Sh : Divs : %Erns /shsOS/ LTD.OS: ShEqty: NW/sh: YrEnd %-NW ====== Shang website: http://www.shangproperties.com/

Recent Reports xx UPDATE 1-Mexico-focused Fresnillo's Q1 gold, silver ... - Kitco Apr 25, 2018 - April 25 (Reuters) - Precious metals miner Fresnillo Plc on Wednesday reported a 14 percent rise in first-quarter silver production, boosted by ... Precious metals miner Fresnillo's 2017 profit rises over 3 pct Reuters, on Kitco / Feb. 27, 2018 Feb 27 (Reuters) - Precious metals miner Fresnillo Plc on Tuesday posted a 3.2 percent rise in annual profit, helped by record silver production. Silver production rose 16.6 percent to 58.7 million ounces in the year ended Dec. 31, following the first complete year of San Julián phase I operating at full capacity and the start of phase II operations. The company, which mines gold and silver in Mexico, said full-year profit before tax rose to $741.5 million from $718.2 million, while revenue climbed 9.9 percent to about $2 billion.

ANALYST ESTIMATES > https://www.reuters.com/finance/stocks/analyst/FRES.L Consensus Estimates Trend Sales and Profit Figures in US Dollar (USD) Earnings and Dividend Figures in US Dollar (USD) Current 1 Week Ago 1 Month Ago 2 Month Ago 1 Year Ago SALES (in millions) Year Ending Dec-18 2,398.28 2,395.25 2,399.50 2,408.89 2,504.28 Year Ending Dec-19 2,574.25 2,578.33 2,607.97 2,579.39 2,686.49 Earnings (per share) Quarter Ending Jun-18 0.27 0.27 0.29 0.30 0.29 Quarter Ending Dec-18 0.33 0.33 0.31 0.31 0.30 Year Ending Dec-18 0.67 0.67 0.65 0.68 0.79 Year Ending Dec-19 0.77 0.77 0.78 0.78 0.86 Analyst Recommendations and Revisions 1-5 Linear Scale Current 1 Month Ago 2 Month Ago 3 Month Ago (1) BUY 1 1 1 1 (2) OUTPERFORM 6 5 5 4 (3) HOLD 9 10 10 10 (4) UNDERPERFORM 0 0 0 1 (5) SELL 0 0 0 0 No Opinion 0 0 0 0 Mean Rating 2.50 2.56 2.56 2.69

Flipped ... to SLV -vs-SIL ... update

Silver Not Done Rallying; Look For 8% Upside From Current Levels Kitco News03:02PM According to Baker’s analysis, July silver futures initiated a new PriceCount when it closed above $16.865 twice this past week. . . . Baker recommends trading July silver 1,000-ounce futures (YIN19) at $16.75 or better. “Place sell stops at $16.30. Take half profits at $17.40 and then move stops up to break even. Exit remaining positions at $17.90,” the report said. SIL

Fresnillo (is USD) / may be expected to gain on Silver (& other silver shares) over time, ...given its dividend & its fast growing production FNPLF vs SLV and SIL ... since 2010 : since 2015 : 2017 : 10d / Fres.L: 11.68, FNPLF: $15.65, SLV: $15.60, SIL: $29.57 /15.65= xx blob:https://imgur.com/932f0264-ee0f-40c6-86d7-f8d4977ffade Year-end FRES.L share price vs Earnings & Div Year- : FRES.L/GbpUsd : in US$ : ( SLV) , ( SIL) , ( Sil/2) : FNPLF : Earns : $Divid : Yield : E-Yld : P'out : 2010 : 16.61 x $1.543 = $25.63 : $29.76, 79.59 : 39.80 : $26.30 : -N/A- : $.000 : -N/A- 2011 : 15.27 x $1.555 = $23.74 : $26.94, 63.33 : 31.67 : $23.10 : -N/A- : $.629 : 2.65% : 2012 : 18.47 x $1.642 = $30.33 : $29.37, 67.95 : 33.98 : $30.44 : -N/A- : $.555 : 1.83% : 2013 : 07.46 x $1.656 = $12.35 : $18.71, 33.60 : 16.80 : $11.62*: $.329 : $.697 : 5.64% : 2014 : 07.66 x $1.558 = $11.93 : $15.06, 27.78 : 13.89 : $11.75 : $.147 : $.070 : 0.59% : 2015 : 07.08 x $1.474 = $10.44 : $13.10, 18.51 : 09.25 : $10.41 : $.096 : $.033 : 0.32% : 2016 : 12.21 x $1.235 = $15.08 : $15.11, 32.11 : 16.05 : $14.80 : $.579 : $.090 : 0.60% : 2017 : 14.29 x $1.351 = $19.30 : $15.99, 32.64 : 16.32 : $19.25 : $.761 : $.248 : 1.28% : 6/15 : 11.68 x $1.328 = $15.51 : $15.60, 29.57 : 14.78 : $15.65 : 0.81E : $.216+ 1.39%+ ==== > Dividend record : http://www.fresnilloplc.com/investor-relations/dividend-information/ *pre-Xmas, FNPLF is illiquid

DRUDGE is Winning ! (the Media Wars) TRUMP: CHECK DRUDGE! 'Captures stories that people want to see'... === Listen to the President - follow Drudge, not LIE STREAM MEDIA ! MANAFORT JAILED RUDY FLOATS PARDON PRESIDENT RIPS FBI 'SCUM'

" Are you still bullish DrB? " - H. EUR-vs-SLV etc ... update : SIL-vs-FRES : SIL-vs-SLV ... update Possibly SLV or SIL this could be a great buy here, given the big selloff. But I won't rush now* It should make sense now to wait a bit, to see if there is a follow-through in today's very heavy sell-off. The LESSON here seems to be that Silver could NOT lead the market higher on its own. And the falling Silver shares, like Fresnillo & Korea Zinc - and the EUR itself, were a better predictor of the market, than the rising SLV. === *I was lucky, in a way, I had some SLV calls expirying Friday, and I rolled them into (cheaper) SIL calls, and Sold some AG/FR.t calls, replacing them with an outright long in FRES.L - so I was less exposed to today's selloff. Since FRES.: pays a dividend, I I was buying it at below GBP 12, I see it as a better Long term hold & plan to buy more. I was planning to buy some CDE calls today, but decided to wait until next week (at least)... CDE / Coeur Mining ... 12mo ==

Whoops! Silver is down 29 cents, with a $17 drop in Gold That Silver breakout may be getting unwound after weakness in EUR & strength in USD

WARNING !: "NEXT WEEK may be brutal for PH stocks - many shares had a very weak close" "If we get a new low on monday with heavy volume it would be a bad sing. I do not like weak closes like this on a friday" - Message by Viber Chat PSEI / PH Stock Index ... update / Last: P 7,529.5 -73,44, -0.97% (12 mo range: 7,457.1 to 9,078.4 ) / Psei-etc-0d : ("Look at ALI stock") ALI / Ayalaland ... update / Last: P 39.15 -1.00, -2.49% (12 mo range: 38.45 to 47.50 ) BPI / Bank of Philippine Islands ... update / Last: P 95.85 -2.80, -2.84% (12 mo range: 92.97 to 125.45 ) Let's see what happens on Monday... and beyond A break of 7,500 could quickly bring the index to likely support at/near 7,000 PH Stock Index / PH:PSEI ... update PSEI vs. SPX & UKX ... update : Vs-SHcomp :