Welcome to the Precious Metals Bug Forums

Welcome to the PMBug forums - a watering hole for folks interested in gold, silver, precious metals, sound money, investing, market and economic news, central bank monetary policies, politics and more. You can visit the forum page to see the list of forum nodes (categories/rooms) for topics.

Please have a look around and if you like what you see, please consider registering an account and joining the discussions. When you register an account and log in, you may enjoy additional benefits including no ads, market data/charts, access to trade/barter with the community and much more. Registering an account is free - you have nothing to lose!

Baltimore bridge collapse to primarily impact flow of coal, cobalt​

At about 1:30 am ET March 26 the Singapore-flagged Dali struck the 1.6 mile-long bridge that straddles the Patapsco River and marks the outermost crossing of the Baltimore Harbor area, causing its collapse.

Vessel traffic into and out of the Port of Baltimore was suspended until further notice, although trucks were still being processed within the marine terminals, the Maryland Port Administration said.

At 3 pm ET March 27, some 16 commercial vessels, including the Dali, were docked at jetties within the Baltimore port area, of which six were laden and 10 were in ballast, according to S&P Global Commodities at Sea.

According to data from PIERS, a trade flow analytics tool within S&P Global, Baltimore port held just 4% share of the total trade volumes on the East Coast compared with other major regional ports like New York, with a nearly 38% share.

Baltimore is a key hub for the warehousing of base metals such as aluminum, copper, and zinc in addition to ferroalloys, and handles the most road vehicles of any terminal in the US.

The collapse of Baltimore's Francis Scott Key Bridge, after being struck by a container ship early March 26, disrupted traffic through the Maryland port, a major hub for warehousing and transshipment of commodities on the US East Coast. The closure is expected to primarily impact US coal exports and US cobalt imports, as Baltimore was a central trading hub for both.

More:

 

Impending Economic Storm Insights on Gold, Debt, and the Global Financial Crisis​

Mar 29, 2024
Gold investment shines as a beacon of stability amidst mounting global financial uncertainty. Historical precedent and current economic indicators underscore its reliability for wealth preservation and potential for enhancement. With skyrocketing global debt levels and impending economic crises looming, gold emerges as a bulwark against currency devaluation and market volatility. Central banks and investors are increasingly turning to gold as a hedge against the decline of the US dollar and looming financial crises. In an era of unprecedented economic challenges, gold investment offers a steadfast refuge for safeguarding assets and weathering the storm of uncertainty.


12:47

Timestamps:
0:00 Introductions
2:24 Gold as a Reliable Hedge Against Government and Central Bank Actions
4:28 Impending Global Economic Crisis Due to Unsustainable Debt Levels
5:53 Financial Bubble and the Risk of Market Collapse
6:45 Challenges to the Banking System and the Decline of the US Dollar
8:13 Unsustainable Debt Levels and the Need for Economic Reset
9:27 Global Financial System at the End of a Major Cycle
11:00 Shift to Gold Amidst Global Financial Problems
 

How Maersk Is Navigating The Volatile Shipping Industry​

Mar 30, 2024

Each year, about 90% of world trade is transported by ship. While commodities like oil and grain make up 40% of that cargo, large steel containers, filled with appliances, smartphones, and couches, make up the remainder. Maersk, the world's second largest container shipping company, transports about one in five of those containers.
In addition to its fleet of over 670 vessels, the Danish-based carrier also runs one of the globe's largest port terminal businesses, with 64 terminals. Maersk logged record profits of $29.3 billion in 2022 due in part to pandemic-induced buying and higher freight rates.
But the company is flagging "high uncertainty" for the year ahead as a shift in consumer spending habits has brought revenue in line with pre-pandemic levels. Today, like its rivals, Maersk faces a range of challenges including attacks on vessels in the Red Sea, a drought at the Panama Canal, and the threat of higher tariffs related to a potential Trump presidency.


12:36


Chapters:
0:00 Introduction
2:44 Chapter 1: Global challenges
5:38 Chapter 2: The early days
8:43 Chapter 3: Pivoting to land
 
Lots of interesting stuff in this one.

 

Geopolitical Shifts and Your Portfolio​

Mar 30, 2024

Nothing to see, can listen in one tab, play around the forum in a different tab.

Today's show features Lyn Alden, renowned for her expertise in investment research. Join Jay and Lyn for an in-depth discussion on the economic outlook for 2024. This episode covers fiscal dominance in the U.S., geopolitical tensions, and the evolving landscape of global investment, offering valuable insights for investors looking to navigate through these turbulent times.


39:16
 

 

Canada's mild winter disrupts key ice road to remote Arctic diamond mines​

TORONTO, March 30 (Reuters) - An unusually warm winter in Canada this year has delayed the opening of a 400-kilometer (250-mile) ice road that is rebuilt every year as the main conduit for Rio Tinto (RIO.L), opens new tab, Burgundy Mines (BDM.AX), opens new tab, and De Beers to access their diamond mines in the remote Arctic region.

The Winter Road, which serves the region accessible only by air for 10 months of the year, opened with a two-week delay in the middle of February, disrupting movement of goods along the ice road built over 64 frozen lakes.

Earlier this week, the Tlicho government in Northwest Territories (NWT) restricted movement of commercial trucks for few days in one of the winter roads due to anticipated warmer weather across, opens new tab the North Slave Region.

While diamond production remains unaffected, the delay underscores the challenges that companies face as the mines that make Canada the world's third largest diamond producer come to the end of their productive life.

More:

 
If you watch on utube there are links to all the different stories Dan talks about in today's vid. Looks like he's all decked out for Easter.

Doomsday for Shoppers​

Mar 31, 2024
Now we hear that mall owners are not paying the electric bill and stores are closing. We also hear that mall owners are not paying the property taxes and they are absolutely in foreclosure right now. What’s next for all of us? Are we going to survive this economy? #MallClosing #PropertyTaxes #BankClosures #Allegedly #BankRuns #CRE #phone


15:57
 

Morning Bid: Manufacturing kicks off jobs-packed week​

April 1, 2024 6:02 AM EDT

A look at the day ahead in U.S. and global markets by Amanda Cooper.

Today marks the start of a new week, a new month, a new quarter and a new set of data to get investors going. Friday's personal consumption expenditures price (PCE) index landed when most markets were closed, making this the first real chance to digest the numbers.

The PCE index rose at an annual rate of 2.5% in February, up from 2.4% the month before. The number excluding volatile food and energy prices - the Federal Reserve's preferred measure - rose 0.3% on a month-to-month basis, slightly faster than Chair Jerome Powell had anticipated when he said last week that core inflation would be "well below" 0.3% in February.

However, after the numbers on Friday, Powell said the latest data was "along the lines of what we would like to see."

The first week of the month is always packed with key jobs data, culminating in Friday's non-farm payrolls report. After a blockbuster Q1 for markets, a "three-rate-cut soft landing" appears to be as good as baked into the cake as far as equity investors are concerned. Inflation is behaving, U.S. growth is powering ahead and it would appear a given that the economy is generating jobs quickly enough to support consumer spending.

More:

 
This is one of Doug's better interviews. Nothing to see, can listen in one tab, play around the forum in a different tab. 46 mins long.

Doug Casey Warns: The Great Depression 2.0 is Coming, Gold & Bitcoin Protect!​

Mar 31, 2024

#gold #bitcoin #depression
Best-selling author and speculator DOUG CASEY joined me this week to discuss the looming economic disaster caused by government missteps and mistakes. We discuss inflation, CBDCs, real estate bubbles, gold & bitcoin. A must-watch IMHO.



Chapters:
00:00 Intro
00:01:16 The Great Depression Ahead
00:02:15 The Role of Gold and Bitcoin
00:03:03 Government's Expanding Role
00:04:05 Taxes, Inflation, and Economic Distortion
00:05:19 The Global Debt Crisis
00:07:14 Living Standards and Economic Depression
00:08:08 Real Estate and Stock Market Skepticism
00:09:33 Commodities as a Speculative Opportunity
00:11:51 The Danger of CBDCs
00:13:12 Bitcoin and Gold: Complementary Assets
00:15:54 International Currency Dynamics
00:18:10 Personal Financial Health and Freedom
00:20:07 The Symbiosis of Bitcoin and Gold
00:22:53 Central Bank Gold Purchases
00:24:27 Public Perception of Gold
00:26:33 Gold Stocks and Mining Challenges
00:31:03 The Future of Copper and Electronic Vehicles
00:36:28 Reality, Technology, and Prosperity
00:44:00 Closing Remarks and Resources
 

GoldSeek Radio Nugget - John Rubino​

Apr 1, 2024

Other than a quick chart or 2 there is nothing to see, you can listen in one tab, play around the forum in a different tab.

John Rubino, comments on gold's new all-time record high, $2255+. The former Wall Street financial analyst and author of five books, returns with his unique insights on gold and investing strategies. John penned The Money Bubble: What To Do Before It Pops and Clean Money: Picking Winners in the Green-Tech Boom. 29 mins long.



- We review the gold and gold mining shares in real-time charts.
- Is $2,000 the new floor for gold?
- Will crude oil run like gold?
- Poland is announcing military conscription - is gold soaring on geopolitical concerns?
- Is the equities market approaching a year 2000, Dot.com moment?
- Might the "Everything-Bubble" lead to an unparalleled, global- economic implosion?
- Is gold's true value near $10,000?
- Silver might benefit strongly from the gold bull market, like the tortice, winning the race.
- Silver must first eclipse $30 and then $40, then might run to $200+, 10x from current levels.
- Prepping for chaotic world events is advisable, including accumulating a pantry of storable food.
 

Morning Bid: Factories chug along, dollar riding high​

April 2 (Reuters) - A look at the day ahead in U.S. and global markets by Amanda Cooper.

If there was one area of the U.S. economy that had yet to yield positive news, it was the manufacturing sector and Monday's March survey from the Institute for Supply Management finally brought some.

Activity in the manufacturing sector, which has been battered by high interest rates and inflation, grew for the first time in 1-1/2 years last month as production rebounded sharply and new orders increased.

Layoffs are still high and input prices - due to steep rises in the cost of gasoline and food - are forging higher.

The data triggered the biggest sell-off in Treasuries for several weeks, pushing yields up by the most since mid-February.

Futures markets show traders are now placing a roughly 65% chance of a cut in June, but that is up from around 50/50 overnight. More tellingly, the market is pricing in less than 70 basis points, or three quarter-points, in cuts by December, down from the comfortable three that were priced in last week.

More:

 

Gold, Chocolate & Cattle!​

Apr 2, 2024


12:15
 

How a $10,000 Dog Hunts One of the World’s Most Valuable Crops | WSJ Operating Costs​

Apr 2, 2024
American truffle farmers have struggled for years to grow the valuable crops in America. But Burwell Farms in North Carolina has found a way to consistently harvest up to 120 lbs of white truffles per acre. It required a scientific breakthrough, years of tree cultivation and some highly trained dogs.
WSJ visited Burwell Farms to see how they built their American truffle business.


8:00
 

Weekly Commodity Market Update: USDA lowers corn and principal acreage expectations.​

Apr 2, 2024


11:40
 

Morning Bid: Powell, data, Taiwan quake keep markets on edge​

April 3 (Reuters) - A look at the day ahead in U.S. and global markets by Samuel Indyk

The wobbly start for markets in the second quarter could worsen on Wednesday. Federal Reserve Chair Jerome Powell is due to deliver a speech, and markets are doubting whether the central bank will proceed with easing policy as early as June.

Money market traders are at odds with the Fed - and most analysts - regarding the timing of the first interest rate cut and the scale of easing this year.

Markets are still not fully pricing a cut until July, although they are banking on a roughly-65% chance of a cut in June. Meanwhile, they've also lowered their expectations for three cuts in 2024, but with inflation sticky and economic data strong, the Fed might be slowly coming around to that view themselves.

"I think the bigger risk would be to begin reducing the funds rate too early," Federal Reserve Bank of Cleveland President Loretta Mester said on Tuesday, although she wouldn't rule out a June cut if upcoming inflation data met her forecasts for a further decline.

More:

 

What the Ship (102) | Chokepoints | Inspections | Pacific Rates | Bridge Strike | Navy Shipbuilding​

In this episode, Sal Mercogliano - maritime historian @campbelledu - discusses the Top 5 Maritime Stories as of Apr 3, 2024.

What the Ship (Ep 102) | Maritime Chokepoints: Panama Canal, Red Sea & Baltimore | US Coast Guard Port State Inspection Report for 2023 | Transpacific Freight Rates for 2024 | NTSB Release Report on Mississippi River Bridge Strike | More Delays for US Navy Shipbuilding


40:45

00:00 Introduction
01:36 1. Maritime Chokepoints: Panama Canal, Red Sea & Baltimore
- IMF: Portwatch https://portwatch.imf.org/
- Navigating Uncertainty: El Niño, La Niña, and the Panama Canal Drought https://gcaptain.com/el-nino-la-nina-...
- Gatun Lake Water Levels https://evtms-rpts.pancanal.com/eng/h...
- Red Sea crisis nears boiling point, unable to heat up spot rates https://www.freightwaves.com/news/red...
- Crystal Symphony https://www.cruisemapper.com/ships/Cr...
- Update 6 Multimedia Release: Unified Command opens second temporary alternate channel around Key Bridge wreckage for commercially essential vessels https://www.keybridgeresponse2024.com...

18:48 2. US Coast Guard Port State Inspection Report for 2023
- USCG: "Significant Increase" in Detentions During Port State Inspections https://maritime-executive.com/articl...
- Port State Control in the United States - 2023 Annual Report https://www.dco.uscg.mil/Portals/9/DC...

25:35 3. Transpacific Freight Rates for 2024
- Transpacific contract negotiations going down to the wire: Many US importers holding out for lower annual rates https://lloydslist.com/LL1148688/Tran...
- FREIGHTOS BALTIC INDEX (FBX): GLOBAL CONTAINER PRICING INDEX https://terminal.freightos.com/freigh...

28:55 4. NTSB Release Report on Mississippi River Bridge Strike
- Captain’s Complacency Led to Bridge Strike on Mississippi River https://gcaptain.com/captains-complac...
- Contact of Susan K Tow with Natchez-Vidalia Bridge https://www.ntsb.gov/investigations/A...

33:13 5. More Delays for US Navy Shipbuilding https://news.usni.org/2024/04/02/cons...

39:14 Conclusion
 

Scrap Metal Update: Copper Surges & Steady Steel - What’s Next?​

📈 Check Scrap Prices: https://iScrapApp.com/ - Join us this week as we delve into the latest movements in the scrap metal market, spotlighting the unexpected surge in copper prices, the steady pace in the ferrous sector, and the growing potential in the catalytic converter and carbide markets. We'll explore the reasons behind copper's significant rise, the factors contributing to steel's current stability, and the promising outlook for catalytic converters due to increasing platinum prices and anticipated emission standards. Plus, get insights into the carbide market's positive trends and how services like RRCats and RRCarbide are pivotal for recyclers navigating these changes. Tune in for a comprehensive analysis and discover how these market shifts can impact your recycling strategy.

👉 Read more: https://iscrapapp.com/blog/weekly-scr...


15:09
 

Stocks and bonds take heart from Powell; commodities on a roll​

  • Stocks gain, bonds stabilise
  • Powell still sees rate cuts, but mum on timing
  • Oil, gold and copper all on the rise
LONDON, April 4 (Reuters) - Global shares rallied on Thursday as U.S. rate cuts remained on the table even if their timing was unclear, while the yen slid against everything except the dollar and gold was pinned near record highs.

There was also action in industrial commodities as oil traded at five-month highs and copper reached a 15-month peak, helping to lift shares in basic materials and energy companies.

Some of these gains were due to supply disruptions and geopolitical tensions, but they also reflect optimism about global growth given a recovery in recent factory surveys (PMI), particularly for China.

More:

 

Morning Bid: All eyes on the jobs market​

April 4 (Reuters) - A look at the day ahead in U.S. and global markets by Harry Robertson

Data Jerome Powell wants, and data Jerome Powell shall get.

The Federal Reserve chair on Wednesday continued to play a familiar tune. "Given the strength of the economy and progress on inflation so far, we have time to let the incoming data guide our decisions on policy," he said in a speech at Stanford University.

Thursday brings new numbers on weekly jobless claims for Powell and his colleagues to chew on. Economists think the number will come in at 214,000, up slightly from the week before but in line with the average over the last six months - and hardly commensurate with a faltering labor market.

More:

 
Lots of different subjects covered in this one. Picture the Billy Joel song "We Didn't Start the Fire" and you'll get my drift. Really nothing to see, can listen in one tab, play around the forum in a different tab. 38 mins long.

Doug Casey's Take [ep.#313] "It's Game Over, Man!"​



 

INTERVIEW: Oil, other commodities have reasons to hold up in big election year - Jim Rogers​

Commodity markets are witnessing many reasons for oil to remain a favorite among investors in the near term as declining reserves, slow pace of energy transition, as well as anticipation of favorable policies following elections in India and the US are adding up to create opportunities, according to one of the world's leading commodity investors, Jim Rogers.

"The world has not been discovering a lot more oil. There are substitutes coming but the substitutes take a long time and they are not coming fast enough," he told S&P Global Commodity Insights in an exclusive interview.

"So if I owned oil, I would not sell oil. And if I did not own oil, I would look for opportunities to buy. Because there are many things that can help oil to stay strong in 2024 and 2025," Rogers, who also founded the Rogers International Commodities Index, said.

More:

 
 
Take this one fwiw and dyodd. Nothing to see, can listen in one tab, play around on the forum in a different tab.

We're in For 'Decades of Pain' in Coming Bear Market: Dave Collum​

Apr 5, 2024
Dave Collum thinks massive overvaluation in the broad market means we need a massive correction just to reach fair value, and he sees the inevitable reversion to the mean resulting in a catastrophic bear market that could last for decades. Dave discusses the main drivers he sees behind an inevitable market collapse, why hard assets could provide an escape hatch, his forecast for gold and silver, and much more.


45:39

00:00 Introduction
01:19 We're in For Decades of Pain
07:53 Allocating Capital in a Bear Market
11:36 Black Swan Events
15:59 When the Fed Cuts, Run
18:21 Gold at All-Time Highs
20:29 Outlook For Silver
23:08 Platinum is a Contrarian Play
26:57 Is ESG Coming to an End?
29:22 Can Javier Milei Save Argentina?
33:19 Is the US Losing its Hold on Power?
37:31 What Should Investors Be Paying Attention To?
 
Back
Top Bottom