The discussion begins with the news from South America, that the Venezuelan government has plans to sell the national gold stockpile.
If implemented, the operation would undo the significant efforts of the late Hugo Chavez.
Global central banks are inadvertently supporting the PMs community - policymakers at the PBoC and EU announced new monetary stimulus plans.
The EU finance minister is considering a plan to lower the benchmark lending rate further into negative territory, an unprecedented event.
The Fed Chair shocked investors this week, noting that if domestic economic conditions continue to deteriorate, negative US lending rates could be helpful.
Some market watchers inferred from the speech that Fed officials might not raise rates in 2016.
The CME Group Fed Funds Futures contracts suggest that investors are now placing high odds that rates will increase sharply, to 1-2% or higher, as soon as next year.
Bob Hoye notes that Fed policymakers may not set rates, but actually follow the market trend in rates.
For instance, the 2 year T-Bill seems to lead Fed interest rate policy (Figure 1.2).
Our guest notes that the PMs market could be building a base, in advance of the next bull market.
He outlines his Christmas Bonus indicator, based on the Broker / Dealer index via the ETF (IAI).
President and Director of Goldsource Mines (GXS.V), Yannis Tsitos makes his show debut.
Peter Spina has chosen his firm as the top PMs stock opportunity of 2016.
With close to 30 years to perfect his work, President Tsitos knows how to turn a small mining company into a world-class operation.
The company vision includes expanding to a medium sized gold producer. The South American project shows great potential.
Many of the Guyana based gold deposits are located near the surface, making extraction profitable.
The only English speaking nation in S.A., Guyana is a pro-mining, former British colony, offering additional appeal to operations.
His management team boasts 250 years of experience, adding significant shareholder value.
First gold production by Christmas on their flagship property for merely $480 cash cost-$630 all in cost per ounce, merely half the spot price.
Goldsource has an affiliation with major producer and key shareholder (5%), IAMGOLD, adding strategic synergies.
Shareholders benefit from the coal property in Canada, with significant resources and exploration potential.
With a degree in geophysics and a number of fascinating summers in mining exploration, one winter in "the bush" quickly led Bob into the financial markets. This included experience on the trading desk and in the research department of a large investment dealer, which led to institutional stock and bond sales.
Bob's review of financial history provided the forecasting models designed to anticipate significant trend reversals in the sometimes alarming volatility typical of the transition from rampant speculation in tangible assets to fabulous speculation in financial assets.
In anticipation of the latter opportunity, a monthly publication for financial institutions was started in January 1982.
This competently covered the stock market, the yield curve, credit spreads as well as metal and energy prices.
In 1998 the Institutional Advisors website was started as a forum for unique and reliable financial research.
Mr. Tsitos has over 26 years experience in the mining industry, having spent 19 years with BHP Billiton group. In his time in the industry, he has lived and worked in South Africa, Ecuador, Greece and United Kingdom, and has been working in Canada since 2000. Originally a physicist-geophysicist, he left BHP Billiton in December 2007, where he had the title of New Business Manager for Minerals Exploration with a global reach, but based in Vancouver. He has been instrumental in the identification, negotiation and execution of more than 50 exploration agreements with juniors, majors, as well as with state exploration and mining companies. Mr. Tsitos has also been part of two discovery teams with BHP Billiton in porphyry-copper and nickel-sulphide deposits. He holds a B.Sc degree in Physics from the University of Athens and a master's degree in Applied Geophysics and Geology from the University of Birmingham, UK. In addition, he completed management and finance studies as part of an MBA program with Herriot Watt University, Edinburgh.
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