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Quotes of the Day
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The 2012 year-over-year change in real U.S. GDP was 1.5%. There has NEVER been a time since measurement commenced in 1948, when the annual pace of real GDP has fallen that low without the economy ultimately slipping into recession. Sub-2.0 percent readings are historically the warning signal.
-Rich Yamarone, Bloomberg news
It is total c--p that 'gold bugs' are stigmatized as fringe lunatic idiots, since we were 'right' first, right all along, and right for the right reasons. We can be insulted, spat upon, stigmatized and laughed at; and marginalized and portrayed as lunatics until the cows come home. BUT, we were more correct - and longer so - than any 'intellectual group' or individual that did not and does not believe in hard money.
-Bill Holter, Miles Franklin
Of the 15 POMO (Permanent Open Market Operation) days since January 9, the market was up 13 of them, or an 87% hit rate.
-Zero Hedge, implicitly describing the PPT's handiwork
Even the stronger countries are now starting to suffer. I have friends in the machine tool industry in Germany. They are telling me that what has been a strong business in the last few years is now turning down rapidly. Demand is falling at a very fast pace.
-Egon von Greyerz
At $2.7 trillion in base money, our call was for $10,000 gold. As base money is now rising, from additional QE, the shadow gold price should rise to about $15,000 in roughly one year's time.
-Paul Brodsky, in sync with my $15,000-$20,000 CURRENT gold valuation
Gold will trade at $3500 and higher. I know a "market jiggle" (the word for manipulation in the time of Livermore and Seligman) when I see it. You are being had. You have one defense for your positions without margin debt, and that is to stop watching and therefore do nothing.
-Jim Sinclair
The Government used a 0.6% inflation assumption (that's point six percent, annualized) in calculating Q4 GDP. Did anyone you know experience only a 0.6% increase in their necessities last year? Imagine how negative the GDP report would have been if the Government used a realistic inflation index.
-"Dave from Denver"
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Conference Appearance: St. Petersburg, FL March 13th-16th
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I am pleased to announce that Andy Schectman and Michael Spector will attend the "Investment U" conference in St. Petersburg, FL on March 13th-16th. Andy will be making a presentation, and both will hold court at the Miles Franklin booth throughout the conference. If you plan to be in the area, please come by and say hello!
For more information, click on the link below:
Investment U 15th Annual Conference - March 13-16, 2013
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| Thursday Afternoon Wrap-Up 1/31/2013
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I have referred to the movie Fargo numerous times; in fact, highlighting it in my second commentary after Miles Franklin. Here's what I wrote: In the beginning of Fargo, the only problem was William H. Macy's character, Jerry Lundegaard, owing some money, and being too proud to tell his disapproving father-in-law. Just as the U.S.'s problem was simply that its debts were growing rapidly while its industry was leaving for the Far East, and its government didn't want to admit a significant recession was coming. Jerry then arranged a "sure thing" kidnapping of his wife, which no doubt would get him the money (ironically, from his father-in-law) to pay off his debts. Just as the Fed decided that lowering interest rates and repealing Glass-Steagall would restore the economy to prosperity, allowing it to "grow out of its debts." Unfortunately, Jerry hired morons to kidnap his wife (actually, they were hired by his mechanic, Shep Proudfoot), accidentally killing her in the process. Just as the Fed's reckless actions created unforeseen inflation, a housing bubble, and reckless bank speculation in risky ventures such as derivatives and mortgage-backed securities. Next, the kidnappers were dumb enough to speed in a stolen car with a dead body in the trunk, leading to the death of a policeman, two innocent drivers, and a parking lot attendant. Just as the Fed and its henchman Hank Paulson fed TARP to the public, destroying the financial system and throwing fuel on the global inflationary fire. Finally, the kidnappers killed Jerry's father-in-law and each other, while Jerry went to prison for multiple murders, including his own wife. Get my drift here? -From WAVES of buying will buoy gold and silver prices for years to come, October 27 2011 My point, of course, is TPTB keep digging their whole deeper; when in hindsight, it would have been so much simpler to allow markets to trade freely... Santelli to Forecasting 'Fail' Fed: "Let Market Forces Reign" Many theorize the ongoing economic collapse was caused by a conspiracy of the world's "elites." Anything is possible, but I see ZERO evidence of such; and frankly, do not attribute enough intelligence to today's bankers and politicians. Rather, I believe these "leaders" were brainwashed with fiat currency voodoo; which they readily accepted, given the short-term benefits it engendered. By now, however, I'm convinced that all but the dumbest realize they are wrong... Guest Post: Why We Cannot Print/Borrow/Spend Our Way to Prosperity ...with some, quite vocal about it... Shock: BIS Sees Global Asset Bubble However, they ALL realize the only viable "option" is "kicking the can"... Suspension of U.S. debt limit wins final congressional approval ...as hard as possible... The Fed's Ten Year-Equivalent Holdings Hit a Record 29% of the Entire Treasury Market ...by manipulating financial markets... Shorting the Market on These POMO Days May Be Hazardous To Your Health ...economic data... "The Politics of Removal": Dressing up the French Unemployment Fiasco ...and - most importantly - perception... Gap Between Economic Reality and Market Fantasy Hits New High Unfortunately, citizens' lives are not affected by PROPAGANDA - but REALITY... ...and REALITY demonstrates MONEY PRINTING destroys economic activity... Art Cashin's 65-Year-Old Reason We Are Heading Into Recession ...wreaks havoc on economic LAW... Labor Unions Finally Read Obamacare Fine Print, Realize Costs Set To Spike, "Turn Sour" On Obama ...impoverishes consumers... Moody's downgrades Canadian banks over consumer debt exposure ...invites retaliation from others... Swiss Ministers Seek More Depreciation of 'Strong' Franc Seoul rattles saber in currency war ...and inevitably, catalyzes "THE FINAL CURRENCY WAR"... China accounts for nearly half of world's new money supply Next, you have the indirect ramifications of such folly; like rising geopolitical tensions... Syria Threatens "Surprise" Response to Israel Air Raid; Iran and Russia Pile in ...and scapegoating... White House says Iran's installation of advanced uranium enrichment centrifuges would be provocative step in violation of U.N. resolutions. ...which more often than not, yields unjustified WAR... President Bush Admits Iraq Had No WMDs and 'Nothing' to Do With 9/11 And finally, the destruction of entire currencies - and citizens' life's savings - to HYPERINFLATION... QB Projects Shadow Gold Price To Be $15,000 In One Year! ...yielding REVOLUTION when it's understood the only REAL MONEY was squandered surreptitiously to "maintain the status quo"... "Everybody in the Industry Knows the US Doesn't Have the Gold" Frankly, I'm exhausted; with only tomorrow's NFP employment report left in this week's "perfect storm" of Cartel "attack events." Given how hard the "wolf" has huffed and puffed, PMs' essentially breakeven performance this week is quite impressive... Just get me to next week - LeMetropoleCafe.com James McShirley "Beware the Ides of NFP". Possibly the most choreographed, telegraphed, and blatant PM manipulation of all; and that's saying a LOT. In doing so, EVERY conceivable cartel trick is utilized. Recently they've even forbid the 2% part of the classic 2%, 1%, steady, down hard routine and now go straight to 1%, steady, down hard. This was actually gold's version of quadruple-witching week, with COMEX Options Expiration, the FOMC meeting, FND, and NFP payrolls all aligned to doom spec longs. Anybody who went long last week knowing this is a sucker for punishment. The good news is bottom fishing just got easier, as there is almost always a relief rally (or better) after this kind of BS week is over. Just because the warning lights on the dashboard have been disconnected doesn't mean you should ignore smoke billowing from your engine. They can manipulate EVERYTHING, but eventually supply/demand and hyperinflationary consequences will prevail. Violent dislocations are coming shortly to PMs, facilitated in no small part by a negligent CFTC. This suppression scheme has been too intense, for too long. Yesterday, the PPT put in overtime to prevent the "DOW JONES PROPAGANDA AVERAGE" from plunging after the catastrophic GDP number. It ultimately declined by 44 points; after which, I wrote the following... ...the taboo 50-point decline was NOT PERMITTED. Today, despite the supposedly great Chicago PMI number - tempered, of course, by very poor jobless claims and layoff numbers - the PPT again fought "tooth and nail" to prevent the Dow from materially declining. Given what I wrote above, all I can say is LOL regarding today's close - down 49.84 points... The 10-year Treasury rate dropped two basis points, but remains in a major DANGER ZONE; prompting my belief TPTB will shortly initiate a "market event" to help push rates back to "acceptable" levels... As for gold, what more can I say? Look at the times of the WATERFALL DECLINE raids, and nothing more needs to be said. That is, EXACTLY the 8:20 AM EST COMEX open; EXACTLY the 10:00 AM EST "PM Fix"; and EXACTLY the 12:00 PM ET "cap of last resort"... In effect, the Cartel was simply enforcing its age-old rule of "all great PM days must be followed by horrible ones"; that is, if you consider yesterday's capfest to be "great." As James McShirley noted above, "every conceivable Cartel trick was mobilized"; from "DLITG" and "Dow/Gold x 2" algos; to use at all KEY ATTACK TIMES. And wouldn't you know it, gold closed at EXACTLY the "battlefield fulcrum" of the past five months; its 200 DMA, of $1,664/oz... Of course, with the Yen HYPERINFLATING... Japan gold rush amid weakening yen ...even major "DOLLAR-PRICED GOLD" attacks have essentially ZERO impact on Yen Gold...
Market
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Price
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Day (price)
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Day (%)
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From ALL-TIME HIGH
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Yen Gold
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152,511
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(318)
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-0.2%
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5.2%
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As for silver, the Cartel was clearly spooked by its $1.50/oz surge the past two days; as the multiple WATERFALL DECLINES attest to. And by the way, for all the hype about the "great" Chicago PMI report; the PM attacks did NOT occur directly afterwards; but instead, roughly 20 minutes later... As for the mining shares, I'm tiring of telling people not to stick their head in the lion's mouth... However, it's my JOB to do so; and thus, I will NEVER stop warning of how to PREPARE for the upcoming worst-case scenario... Faber to Maria: "You Don't Own Gold and You Are in Great Danger" ...and thus, entreating you to... PROTECT YOURSELF, and do it NOW! Call Miles Franklin at 800-822-8080, and talk to one of our brokers. Through industry-leading customer service and competitive pricing, we aim to EARN your business. Back to Table of Contents
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Book Private Meetings and Events
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Miles Franklin seeks creative ways to partner with its clients to market Precious Metals to nationwide audiences. If you are interested in hosting a private meeting - or sponsoring a Webinar presentation - with Andy Schectman, President of Miles Franklin, and "Ranting Andy" Hoffman, Marketing Director, please inquire via email to aschectman@milesfranklin.com or ahoffman@milesfranklin.com; or via telephone at 800-822-8080.
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Friday Morning Commentary 2/1/2013
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As long-time readers know, I rarely make short-term predictions - given the long-term nature of my advice, and incessant MARKET MANIPULATION. However, contrary to nearly the ENTIRE financial world, I have vehemently spoken of how today's NFP report would be "worse than expected." The reason, of course, was NOT an ability to interpret fudged and erroneous employment data; but rather, because the government CANNOT ALLOW interest rates to break out...
THIS is why the FOMC was so dovish Wednesday; and why "QE to Infinity" MUST occur...
Jim Sinclair: QE3 to Infinity-The Final End Game
On Tuesday, I wrote the following of Michael Pento...
He has been one of the industry's top commentators for years; and thus, I pay attention when he makes prognostications. In sync with my RANTS over the past month, he points out the myriad of poor economic data ignored by the doting MSM; and consequently, anticipates a weak NFP report Friday, yielding a significant PM rally.
On Wednesday, I followed up with this:
All the Fed's QE - and QE announcements - couldn't push the 10-year interest rate down; as ultimately, it rose from 1.99% to 2.01%. Prepare for MASSIVE attempts to push it back down in the coming days; and by the way, such MASSIVE attempts just might include a "worse than expected" NFP report Friday.
And yesterday, I penned thus:
The 10-year Treasury rate dropped two basis points, but remains in a major DANGER ZONE; prompting my belief TPTB will shortly initiate a "market event" to help push rates back to "acceptable" levels.
OK, now that I'm done with self-aggrandizement, let's consider how silly it is that the monthly unemployment report is hailed as the "end all, be all" of economic data. Yes, I know it's a political "talking point"; but still, even a modest intellect should realize such reports don't really mean anything.
For one, with such a large population; i.e., 314 million vs. 203 million when I was born in 1970; getting excited about what 100,000-200,000 people (0.05% of the population) are doing each month is ludicrous; not to mention, statistically insignificant.
Next, throw in the poor quality of such reports; which today, are FAR MORE influenced by arbitrary "seasonal adjustments" and the phantom "birth/death model" than actual job creation; with little or no correlation to the actual HOUSEHOLD survey...
| Obi-Wan: He's more machine now than man. His mind is twisted and evil. |
...as well as blatant political "influence" - like the "unemployment rate" bottoming in the report published three days before the Presidential election...
Evidence Supporting Manipulation of Jobs Report Numbers
...the lack of discussion of the actual components of the report; such as the high proportion of temporary and minimum wage jobs; or the most disturbing trend of all...
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Source: Zero Hedge
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...the gargantuan "revisions" that make trading on such numbers comical...
Visualizing the BLS' Establishment Survey Revisions
...and - of course - how it is used as an Administration tool to guide monetary policy; and we're left with a meaningless "measure" of one of dozens of variables in the overall economic picture...
Fed Ties Rates to Joblessness, With Target of 6.5%
And by the way, given that myriad factors influencing the Labor Force Participation rate - currently at a multi-decade low - it's entirely possible the 6.5% unemployment rate could be reached (thus, "ending QE") with ZERO new jobs...
Labor Force Dynamics: What Influences the Size of the Labor Force?
...in other words, a recession disguised as "recovery"...
| Peter Schiff: Obama recession will be worse than the Obama recovery |
Then again, it's no secret that TRUTH no longer exists in America...
In Amerika Law No Longer Exists: the extermination of truth - Paul Craig Roberts
...particularly when publishing economic data...
Truth in Reporting - The Golden Truth
...like Wednesday's "GDP" report...
Don't Be Fooled, Real 4Q12 GDP Was Even Worse Than 0.14%
Before today's "all-important" NFP report, all I could see was the same old litany of "horrible headlines"; such as bad European debt...
Lingering Bad Debts Stifle Europe Recovery
...the catastrophic ramifications of Zero Interest Rate Policy (ZIRP)...
Endowment Returns Fail to Keep Pace with College Spending
...expanding currency wars...
The Consolidated "Currency Wars" Chart
....massive corruption...
Italian Bank Scandal Spreads to Other Banks: Berlusconi Big Winner
...and a new U.S. embassy bombing...
Deadly Blast Strikes U.S. Embassy in Turkey
Not to mention; tragic NFP-related data - like INFLATION preventing nearly everybody from retiring as they used to...
Two Thirds of Americans Aged 45-60 Plans to Delay Retirement
...as validated by the fact that amidst America's LOWEST-EVER Labor Participation...
...ONLY the elderly are working more...
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Source: Zero Hedge
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OK, on to the main event, which I'll get right to. "EXPECTATIONS" were for +186,000 jobs and a slight decrease in the official "unemployment rate" from 7.8% to 7.7%; and this is what we got...
157,000 Jobs Added In January, Unemployment Rate At 7.9%
...and oh yeah, the "Birth-Death" model; which inexplicably ERASES the prior year's data immediately, was arbitrarily reported as -314,000 jobs versus -367,000 a year ago. In other words, if last year's figure were used, the increase would have been 54,000 less...
CES Net Birth/Death Model
...while "seasonal adjustments" - as usual - DWARFED the actual job number...
The Average January Nonfarm Payroll Seasonal Adjustment Is...
...and - how about this for poor job quality? ALL age groups actually experienced job losses in December except one - drum roll please - the 16-19 category; dominated by minimum wage jobs...
How Today's "Strong" Jobs Report Led to 115,000 Job losses
Now that PM "hell week" is over, perhaps the blatant suppression will ease up a bit; that is, until next month's "fiscal cliff" discussions threaten to DESTROY the nation...
...although inevitably, "Economic Mother Nature" will win out...
Monetary Base Breaking Out! Will Gold Prices Follow?
Dow futures were up 55 going into the report, and actually rose thereafter; as according to the PPT, "ALL news is good news" for stocks. As I write at 9:45 AM EST, it's up 80 points; however, just as I predicted, interest rates have sharply declined - with the key 10-year Treasury rate down from 2.00% last night to 1.93% this morning...
Gold was stopped by the day's first "CARTEL HERALD" just before the 7:00 AM EST open of the New York "pre-market" session...
...and attacked at the 8:20 AM EST COMEX open...
Directly after the terrible NFP report, gold surged; stopped by the day's second "CARTEL HERALD" directly thereafter; and another at the NYSE open when gold had the gall to surge a measly $5/oz higher; to - what a shock - EXACTLY the ROUND NUMBER of $1,680/oz; EXACTLY 1.0% higher on the day...
And - MY GOD! As I write at the #1 KEY ATTACK TIME of 10:00 AM EST, even I am in awe of the EVIL and DESPERATION we are up against. A pair of modest "beats" by the "Consumer Sentiment" and "ISM Manufacturing" indices; the latter due to - ughhh - surging inventories...
ISM Beats Expectations on Surge in Inventories
...was all the Cartel needed as "cover" to attack PAPER PMs further; and in the "blink of an eye," ALL of gold's $16/oz of gains (and silver's $0.50/oz) were gone - while the Dow didn't budge from the +80 level...
As I finish editing at 10:40 AM EST, PMs are now surging anew; with gold up $7/oz...
...Yen gold making a new ALL-TIME HIGH...
Market
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Price
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Day (price)
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Day (%)
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From ALL-TIME HIGH
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Yen Gold
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154,505
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1,994
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1.1%
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6.6%
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...and silver up $0.40/oz (just $0.10 from the day's highs)...
...while the Dow just took off to +140, at the DROOLED-OVER number of 14,000; as yet again, TPTB have engineered a "MORPH DAY" to take the focus from where they should be - Precious Metals - to where they shouldn't...
...although ominously, interest rates just surged anew...
...and what can one say about the pathetic mining stocks - currently under the spell of yet another "HUI DEAD RINGER"...
...aside from my staunch belief that if you "SELL MINERS, we will DESTROY THE CARTEL"...
"Mexico Mike" Kachanovsky
The naked shorting of miners is dangerous and unsustainable. Access to raw materials is critical for an industrial economy to function. The collapse of the junior explorers will create a crisis down the road as new development candidates are choked off. The mining sector has been through a few of these mass extinction events in the past and recovered, but this slump will lead to shortages of many metals before it has played out. Count on it.
The day's not over, but PHYSICAL PM holders are up for this "Cartel Hell Week"; featuring COMEX options expiration, a dovish FOMC statement, negative GDP, and a pathetic GDP report.
"PAPER PM Investments" have been annihilated, but those holding REAL MONEY are doing just fine. Hopefully, the cumulative impact of this information - coupled with the reality of the upcoming "fiscal cliff" debates - will prompt you to quickly...
PROTECT YOURSELF, and do it NOW!
Call Miles Franklin at 800-822-8080, and talk to one of our brokers. Through industry-leading customer service and competitive pricing, we aim to EARN your business.
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BFI Wealth, Zurich - Swiss Annuities and Managed Accounts
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Miles Franklin and BFI Consulting of Zurich, Switzerland, have partnered for the past two decades in offering access to offshore annuities and managed accounts. Born at roughly the same time in the early 1990s, both firms have successfully PROTECTED clients via quality, secure, private accounts holding PHYSICAL Precious Metals, annuities, and other managed products. BFI is a global leader in the sale and maintenance of Swiss annuities and privately managed accounts - particularly to U.S.-based clients; and through its Global Gold subsidiary - utilizing worldwide storage leader Via Mat - offers international Precious Metal storage services in Switzerland, Hong Kong, and Singapore. As with Miles Franklin's Canadian offshore storage program, Global Gold offers allocated storage OUTSIDE the banking system.
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Dying Hope
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It's ironic that Obama's 2008 campaign platform focused on the amorphous, fleeting, impractical emotion of HOPE. I get it, it's just campaign PROPAGANDA - formed by small minds, preying on smaller ones.
From the politician's standpoint, the best part of such an ambiguous "promise" is the near impossibility of measuring it. From time to time, loaded polls suggest constituent "approval"; however, the FACT remains that Obama is currently tied - with George W. Bush, no less - for the most "unpopular" re-elected President since Gallup started taking such polls in 1945...
Obama Job Approval Rating Lower than Nixon's
...while Congress "enjoys" its lowest approval ever; falling to a HORRIFIC 10% last year...
Moreover, despite the government's best efforts to mask REALITY with PROPAGANDA; privately taken polls - like the Bloomberg Consumer Comfort Index - are barely above the 2008-09 crisis lows...
For all the government hype and spin regarding economic "recovery" - an ongoing, NEVER-ENDING LIE; U.S. Labor Force participation is at a 30-year low...
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Source: Zero Hedge
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...and REAL unemployment is near DEPRESSION-ERA levels...
...particularly for families in their peak child-rearing years...
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Source: Zero Hedge
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...with the prospect of further, dramatic job cuts when the upcoming "fiscal cliff" hits...
New fiscal cliff looms after sequestration put off until March 1
Meanwhile, REAL wages have been declining for nearly three years...
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Source: Zero Hedge
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...as job quality plunges...
A Quarter of Jobs in America Pay below the Federal Poverty Line
...as part of a longer-term trend; with no hope of improving...
Consequently, U.S. entitlement growth is exploding...
10 charts showing America's stunning entitlements explosion
...with half the nation dependent on the government; hence, the rising popularity of the Democratic Party...
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Source: aei-ideas.org
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...including a stunning 47 million people on food stamps...
...and 6% of ALL workers on "disability"...
Meanwhile, there's even less hope for the nation's youth; holding $1 TRILLION of undischargable student loans...
The Scariest Chart of the Quarter: Student Debt Bubble Officially Pops As 90+ Day Delinquency Rate Goes Parabolic
...fighting all the aforementioned, whilst REAL inflation eats away at purchasing power by 8%-10% annually...
Furthermore, if the above didn't sap any remaining hope about America's future; the "icing on the cake" is the fact that while "the 99%" are suffering, "the 1%" are doing better than ever...
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Source: Wikipedia Commons
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...particularly the very same bankers that CAUSED America's ruin...
How the Glorious Socialist Revolution Generated a 681% Return for Goldman Sachs
As we approach the END GAME of currency collapse, America's "DYING HOPE" - above all else - poses the greatest political, economic, and social risks...
Guest Post: Hope Has Changed - It Died
...as from such conditions, powerful demagogues have historically taken power; with devastating consequences to all...
Thus, you MUST...
PROTECT YOURSELF, and do it NOW!
Call Miles Franklin at 800-822-8080, and talk to one of our brokers. Through industry-leading customer service and competitive pricing, we aim to EARN your business.
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Reliable Financial Advisors
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In a world of heightened speculative and counterparty risks, finding someone you can trust may be the most important research you do. Miles Franklin does not sell stocks, but is frequently asked if we know of reputable, full-service brokers. WE DO NOT CONDEMN OR CONDONE EQUITY INVESTMENTS, but want investors with such interest to be honestly and competently handled.
In resource stocks, the folks at Sprott Global Resource Investments - managed by Eric Sprott and Rick Rule - are the best in the business. In various capacities, we have worked with Eric Angeli, Jeff Howard, Kenton Toews, Mishka vom Dorp, Jason Stevens, Anthony Marsh, and Andrew Jackson - all of whom are diligent, ethical, and knowledgeable. That style of business is indicative of the reputation Global has built over the past 25 years. You can feel comfortable with any of their brokers, reachable at 800-477-7853.
For all other stocks - including large cap gold, silver and other resource equities - Nick Shermeta, from Northland Securities here in Minneapolis, is as trustworthy and knowledgeable as they come. Nick is a Senior Vice President with more than 20 years experience, but will treat you as if you were his only client. You can reach Nick at 612-851-5908, or by email at nshermeta@northlandsecurities.com.
The common denominator is decades of Wall Street experience, which should give you comfort that well-seasoned and weathered hands are helping manage your portfolio. Notably, we do not receive compensation for these recommendations. We just want you to know that if they are good enough for us, they should be good enough for you too.
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About Andy Hoffman
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Andrew ("Andy") Hoffman, CFA joined Miles Franklin as Marketing Director in October 2011. For a decade, he was a U.S.-based buy-side and sell-side analyst, most notably as an II-ranked oil service analyst at Salomon Smith Barney from 1999 through 2005. Since 2002, his focus has been entirely on Precious Metals, and since 2006 has written free missives regarding gold, silver, and macroeconomics under the moniker "Ranting Andy." Prior to joining the company, he spent five years working as an Investor Relations officer or consultant to numerous junior mining companies. An archive of Andy's "RANTS" can be found on the Miles Franklin Blog here.
For more information on Miles Franklin Ltd. visit our website.
Miles Franklin | 801 Twelve Oaks Center Drive | Suite 834 | Wayzata | Minnesota | 55391 | 1-800-822-8080
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Call 800-822-8080 for a Quote |
Readers are advised that the material contained herein is solely for informational purposes. The author and publisher of this letter are not qualified financial advisors and are not acting as such in this publication. The Miles Franklin Report is not a registered financial advisory and Miles Franklin, Ltd., a Minnesota corporation, is not a registered financial advisor. Readers should not view this publication as offering personalized legal, tax, accounting, or investment-related advice. All forecasts and recommendations are based on opinion. Markets change direction with consensus beliefs, which may change at any time and without notice. The information and data contained herein were obtained from sources believed to be reliable, but no representation, warranty or guarantee is made that it is complete, accurate, valid or suitable. Further, the author, publisher and Miles Franklin, Ltd. disclaims all warranties, express, implied or statutory, including, but not limited to, implied warranties of merchantability, fitness for a particular purpose, accuracy and non-infringement, and warranties implied from a course of performance or course of dealing. The reader accepts information on the condition that errors or omissions shall not be made the basis for any claim, demand or cause for action. Past results are not necessarily indicative of future results. Any statements non-factual in nature constitute only current opinions, which are subject to change. The author, publisher, Miles Franklin, Ltd, and their respective officers, directors, owners, employees and agents are not responsible for errors or omissions or any damages arising from the display or use of such information. The author, publisher, Miles Franklin, Ltd, and their respective officers, directors, owners, employees and agents may or may not have a position in the commodities, securities and/or options relating thereto, and may make purchases and/or sales of these commodities and securities relating thereto from time to time in the open market or otherwise. Authors of articles or special reports contained herein may have been compensated for their services in preparing such articles. Miles Franklin, Ltd. and/or its officers, directors, owners, employees and agents do not receive compensation for information presented on mining shares or any other commodity, security or product described herein. Nothing contained herein constitutes a representation, nor a solicitation for the purchase or sale of commodities or securities and therefore no information, nor opinions expressed, shall be construed as a solicitation to buy or sell any commodities or securities mentioned herein. Investors are advised to obtain the advice of a qualified financial, legal and investment advisor before entering any financial transaction.
IN NO EVENT SHALL AUTHOR, PUBLISHER, MILES FRANKLIN, LTD, AND THEIR RESPECTIVE DIRECTORS, OFFICERS, EMPLOYEES AND AGENTS BE LIABLE FOR ANY DIRECT, INDIRECT, PUNITIVE, INCIDENTAL, SPECIAL, CONSEQUENTIAL, EXEMPLARY OR OTHER DAMAGES ARISING OUT OF OR IN ANY WAY CONNECTED WITH ANY INFORMATION CONTAINED HEREIN OR IN ANY LINK PROVIDED HEREIN, PRODUCTS AND SERVICES ADVERTISED IN OR OBTAINED HEREIN, OR OTHERWISE ARISING OUT OF THE USE OF SUCH INFORMATION, WHETHER BASED ON CONTRACT, TORT, NEGLIGENCE, STRICT LIABILITY OR OTHERWISE. |
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