All posts by Thomas Prendergast

Markets at risk of waterfall event’ this is how gold would perform Lobo Tiggre

Markets at risk of ‘waterfall event’, this is how gold would perform – Lobo Tiggre

Lobo Tiggre, of The Independent Speculator, claimed that the market selloff is not yet over, and that gold will do well in this environment. Tiggre spoke with David Lin, anchor and producer at Kitco News.

“My concern about a near-term ‘waterfall event’ in the broader markets… is higher now than it has been since 2021,” said Tiggre. “I don’t want to be putting any more cash at risk right now… I sold everything.”

When it comes to gold, Tiggre suggested that the precious metal is resilient in the face of bond-buying and a stronger U.S. dollar.

“People are dumping stocks, they’re buying bonds, even though the Fed is going to be selling because there’s fear in the air,” he explained. “So to see gold still holding 1,800 [USD] in the face of these headwinds tells you something.”

He also commented on the U.S. dollar’s recent performance against gold, “The reality is that the dollar only appears strong. The mayor is still in the glue factory, the dirty laundry hamper is still the dirty laundry hamper. Anybody going to the store, anybody paying rent, they know that their dollars are worth less on their way to perhaps being worthless… [To] the degree that, you know, gold is trading more directly with the dollar, I’m actually a dollar bear.”

Tiggre’s macroeconomic outlook is grim. He said that uncertainty, high inflation, and an economic slowdown will affect markets.

“Nobody really knows what’s going to happen, not even me,” he admitted. “We could be in a recession right now with high inflation… And to think that the Fed can just, you know, raise rates and cure inflation so easily, I think it’s a fantasy. It’s not going to happen.”

To find out Tiggre’s outlook for gold mining stocks and uranium, watch the above video.
 

By Kitco News

For Kitco News

Time to buy Gold and Silver on the dips

 

Tim Moseley

DeepMind is speeding toward artificial general intelligence AGI

DeepMind is speeding toward artificial general intelligence (AGI)…

by Jeff Brown, editor, The Bleeding Edge

 

DeepMind is speeding toward artificial general intelligence (AGI)…

 

Google’s artificial intelligence (AI) division DeepMind just came out with another incredible development. It seems like these breakthroughs are coming nearly every month now.

This month DeepMind released a “generalist agent” for the very first time. It’s called Gato. And Gato is one of the world’s first multi-modal, multi-tasking AIs.

Here’s what that means…

We have talked about all kinds of different AIs in The Bleeding Edge. The one thing they all had in common is that they are each optimized for a single task.

For example, DeepMind’s AlphaFold predicts the folding of proteins. Meanwhile, Miso Robotics’ Flippy turns burgers on the grill. And, of course, there are many other AIs trained to master a specific task.

What sets Gato apart is that it mastered many different tasks. In fact, DeepMind trained the AI to do 600 different things.

Here’s a look at just a few of them:

 

Gato in Action

Source: DeepMind

 

Here we can see a sample of what Gato can do. It can operate a robotic arm designed to pick, sort, and categorize objects. It can manipulate and organize building blocks. It can notate the objects it “sees” in an image or video. It can play different video games.

Gato is also skilled in natural language processing. It can understand human language and even engage in conversations.

So Gato has learned to do many, if not all, of the tasks that the other AIs can do. That’s remarkable. If we think about it – even humans might struggle to be good at 600 separate things. 

And get this… On a relatively small training set, Gato was able to achieve an expert level score on 450 out of the 600 tasks that it learned.

And what’s so exciting is that the number of tasks is arbitrary. If Gato can learn 600 tasks, it’s just a matter of scaling the training for it to master 60,000 tasks.

What we are looking at is the natural evolution of AI. We are moving from single-task AIs to more general, multi-tasking AIs that can do all kinds of things. This is the next logical step toward artificial general intelligence (AGI).

AGI is when an AI is indistinguishable from a human and is empowered with “superhuman” capabilities. It can think, understand, learn, and apply its knowledge to solve any problem – just as we humans do – but in a fraction of the time and on any subject matter at all.

This latest development from DeepMind signals that we are rapidly moving towards that eventuality. It’s a little bit frightening to think about how fast AI is advancing.

The implications are profound. Everything changes when we have AGI. We can’t even predict what the world looks like with AIs that can think and act independently.

How Gato develops over the next 12 months will be very telling.

 

 


New Opportunities Are Emerging For Citizens of The World.

Freedom and democracy may appear to be struggling to stay alive in America, but there may be a knock-out punch ready to be released. The evolution of the blockchain-enabled metaverse is going to enable the 'Citizens of the World' to gain their own Freedom by democratizing power and creating a new world with new rules, new players, and new opportunities. For 99.99% of us, the metaverse will improve our real-world lives through the democratization of power and opportunity.

Along with the major long-term trend of society towards decentralization and smaller-scale organizations, there are new opportunities developing to help 'Preparers' in the cryptocurrency sector. Businesses are beginning to issue their own Crypto Coins that can be traded on Cryptocoin Exchanges.

Markethive.com for example will be releasing its HiveCoin (HIV) in the coming weeks. It has tremendous upside potential that is outlined in a Video by Founder Tom Prendergast, "Entrepreneur Advantage…".

Not only that, if you go to their website and register as a FREE Member, you will be given 500 HiveCoins for "FREE" along with access to several Earning Opportunities and online tools to increase your HiveCoin balance.

Be sure to check it out today – Markethive.com

Markethive

Tim Moseley

Gold posts solid gains for the week as market participants focus on the economy

Gold posts solid gains for the week as market participants focus on the economy

Gold prices closed higher on the day and the week resulting in solid gains. As of 5:50 PM, ET gold futures basis most active June contract is currently up $3.90 or 0.21% fixed at $1845.10. Considering that gold futures traded to a low this week of $1785 and closed near the highest value this week of $1848.60 gold had a good week.

Gold pricing had been under pressure for the fourth consecutive week before this week’s trading activity resulting in defined technical chart damage with gold breaking below its 200-day moving average last Thursday, May 12. This week’s low occurred on Monday, May 16 when gold prices hit a low of $1785, and traded to a high of $1825 before closing above its opening price on Monday and above Friday’s closing price at $1813.60. On Tuesday gold traded to a higher high and a higher low than Monday, even though gold closed fractionally lower than its opening price. On Wednesday gold traded to a lower low and a lower high than Tuesday’s price action but that all changed on Thursday.

Thursday’s price action moved gold solidly higher opening at $1816 and closing at $1841, above its 200-day moving average of $1837. Although today gold had only a small gain it opened and closed above its 200-day moving average which on a technical basis is significant. If gold can maintain pricing above $1837 on a technical basis, we can derive that gold prices are now back in a solid long-term bullish demeanor.

The recovery in gold this week was based upon market sentiment shifting their attention from the recent and future activities of the Federal Reserve in regards to their tightening monetary policy in which they have raised the Fed funds rate by ½ a percent at this month’s FOMC meeting which follows the quarter-percent rate hike they enacted in March. Recent statements by Chairman Powell indicated that they will get more aggressive when he said that he is open to raising rates well above the Federal Reserve’s interest rate target for normalization which is been set at approximately 2%. This was interpreted as a more aggressive monetary policy in an attempt to stop inflation from spiraling higher.

Statements from the Federal Reserve before this week were indicating that they believe that inflationary pressures had peaked and using the most recent numbers from last month’s CPI inflation index is the validation of that assumption. The CPI index came in at 8.3% for April, below the 8.5% rate that occurred in March.

It has been the tightening of the Federal Reserve’s monetary policy which has resulted in a tremendous selloff in U.S. equities which continue through this week taking all three major indices into a defined tailspin with seven consecutive weeks of price declines.

However, gold had been selling off for the last four consecutive trading weeks based upon anticipation of much higher interest rates to stave off inflation. However, this week we have seen a clear and defined reversal of market sentiment as investors are now clearly focused on the reality that inflation has not peaked and is most likely continuing to move higher and the prolonged risk-off market sentiment has shifted market sentiment from the higher yields of U.S. Treasuries to the safe-haven asset; gold

By Gary Wagner

Contributing to kitco.com

Time to buy Gold and Silver on the dips

Tim Moseley

US congresmen write Zuckerberg to act against Slovak users of facebook

US congresmen write Zuckerberg to act against Slovak users of facebook
                                         from Czech alternative web

US congressmen wrote Zuckerberg a letter to take action in Slovakia against supporters of Putin and Russia on Facebook
US Congress decides who should be deleted and blocked on social networks in Slovakia ?

Today, American congressmen are already writing public letters and intervening against the internal affairs of another "sovereign" country.

A total of 5 members of the US House of Representatives Intelligence committee, headed by committee chairman Adam B. Schiffem wrote an open letter  to Facebook chief Mark Zuckerberg to crack down on Slovak citizens who glorify Russia, Vladimir Putin and spread alleged Russian disinformation on his social network. It is said to pose a huge threat to the security of the US and its allies.

In the letter, five Democratic Party congressmen call on Zuckerberg to increase the number of Censors in Slovakia, that is, in their words, “fact checkers” for verifying and deleting Russian disinformation and posts that express sympathy for Russia, Russian officials, the Russian army, etc.and also to launch an investigation into who publishes this information on Facebook .
These congressmen are Adam B. Schiff
Mike Quigley
Peter Welch
Sean Patrick Maloney
Jason Crow

Slovakia is officially an American colony with everything ? The civil rights of Slovaks to opinions on Facebook are controlled by US congressmen…. And the prime minister of Slovakia Eduard Heger still thanks them? Is this normal?

Slovak prime minister Eduard Heger  already sent his thanks to US congressmen also saying that this is result of a common truth-seeking effort and wrote also "It is highest time for as many people as possible to be clear about the values and to be able to navigate correctly in the complexities of the contemporary world."

Member of Slovak parliament Luboš Blaha from political party SMER has already responded to the intervention and wrote  an open counter-letter to Zuckerberg. 

Yes, it is obvious that Americans are afraid of massive anti-American sentiments in Slovakia among the ordinary population. Anti-American signs are beginning to appear, according to our information, everywhere, in all cities, and the police do not have time to blur the letters " Z " appearing in hundreds of cases. It is something like a form of” Zorro Avenger " protest against censorship and against American aggression in Ukraine, against the American nationalization of political and media processes, against the deployment of American occupation forces in Slovakia with the assistance of the government, which part of the Slovak public and especially the opposition calls treasonous.
Facebook is powerful in Slovakia. It is the most used social media platform in the country, with approximately 2.7 million active members, which is approximately 49% of the Slovak population.

Slovakia is very important for the US Congress from the logistical point of view of supplying weapons to Ukraine. It is a country that shares a border with Ukraine, and this makes Slovakia an extremely important vassal for the United States, so important that the US Congress is straining to eliminate resistance and opposition in Slovakia, including the criminalization of representatives of the strongest opposition party.

                    Thank you for reading

                                                     Margaret
 

Tim Moseley

Understanding Mental Models To Improve Your Life And Enhance The Lives Of Others

 

Understanding Mental Models To Improve Your Life And Enhance The Lives Of Others

  • Make more intelligent decisions. 
  • Become a better communicator.
  • Become more instinctive and objective.
  • Think proactively, and react quicker.
  • Increase your self-awareness.

 

We have fitness gyms to improve our physical fitness. But what about a gym for our mental wellness? What would the mental equipment be?  Building your mental gym is essential and mental models are some of the most potent mental tools at your disposal. They may help you think and react quicker.  

We all have mental models, which are the lens through which we see the world that influences our reaction to everything we experience. It is crucial to be aware of your mental models to be objective. 

Mental models are significant and rooted in human nature, and they affect how we see problems and how we see people. Mental models may either be extremely helpful or destructive, depending on how you use them.

 


Source: brainyquote

What Are Mental Models? 

There are many different mental models, and it would take a very long time to study them all in detail. Some mental models are rooted in biological observations, while others have been described in behavioral studies. However, all mental models serve as beliefs or ideas that we form based on our experiences consciously or unconsciously.

Mental models help us understand life by providing a shortcut for reasoning. They guide our thoughts and behaviors and help us make sense of the world around us. By understanding how mental models work, we can improve our thinking and make better decisions.

Mental models are not a new concept; they are essential to understanding how our mind works. Below are 23 of the fundamental mental models that you can start observing in your daily life. They are helpful in understanding everyone’s thought process, and they will help you become a better communicator by considering other people’s mental models when speaking with them. Most importantly, they will help you become a more self-aware person.

 

23 Intrinsic Mental Models 

1. Anchoring
Anchoring is a mental model that refers to the tendency for people to rely too heavily on the first piece of information they receive (the “anchor”). This can lead to bad decision-making because people often fail to adjust their thinking when new information contradicts the original anchor.

2. Bandwagon Effect
The bandwagon effect is a mental model that refers to the tendency for people to do something simply because other people are doing it. This can lead to bad decision-making because people often fail to think for themselves and blindly follow the crowd.

3. Bayesian Reasoning
Bayesian reasoning is a mental model that refers to the process of updating your beliefs in light of new evidence. This is a good way of thinking because it allows you to constantly learn and update your beliefs based on further information.

4. Behavioral Sink
A behavioral sink is a mental model that refers to the tendency for bad behavior to spread in a population of animals or humans. 

This can happen when there is no punishment for bad behavior or when the rewards for bad behavior are more significant than rewards for good behavior. This can lead to disastrous consequences, such as the spread of disease, lowering of society's standard of living, or extinction of a species. A behavioral sink has been applied to many fields, including public health, marketing, and economics.

5. Classical Conditioning:
Pavlov's dog is an excellent example of classical conditioning. A biologically potent stimulus, such as food, is paired with a previously neutral stimulus, such as a bell, to condition response in animals. In this case, saliva is produced due to the neutral stimulus (the bell), just as it does when the biologically potent stimulus (food) is presented.

6. Commitment and Consistency Bias:
The desire to be and appear consistent with what we have already done. 

It prefers consistency over change, maintains current behavior, and avoids discontinuity. Confirmation bias is the tendency to favor information that confirms your existing beliefs, and Conformity bias tends to be more responsive to social pressure when evaluating a decision in the presence of others (e.g., a purchasing decision)

7. Common Knowledge:
It's a wide-accepted truth that everyone or nearly everyone knows. 

While common knowledge does not always signify fact or authenticity, most people will acknowledge it as such. In many cases, common knowledge can change. What was common knowledge in the past may not be common knowledge now. What was common knowledge in your country or society may not be common knowledge in another country or community.

8. Diversification:
The process of allocating your resources to reduce exposure to any particular risk and is essential when it comes to investing. By diversifying your portfolio, you reduce the risk that you might lose everything if one specific investment tanks. It’s also important to diversify when it comes to risk reduction in your life.

9. Game theory:
An umbrella term for the science of logical decision-making in humans, animals, and computers. 

Game theory is a branch of applied mathematics; it explores how we make decisions when faced with rules, rewards, and punishments. It is used in economics, political science, artificial intelligence, and many other fields. In its most common form, the game theory looks at strategic decision-making and its theory. When analyzing a game, we try to find the best strategy to win it. We look at what happens if everyone plays a certain way and what happens if they don’t.

10. Hyperbolic discounting:
A model states that, given two similar rewards, people prefer one that arrives sooner rather than later. 

This is often referred to as ‘discounting the value of each reward according to how soon it arrives.’ Hyperbolic discounting is often thought to be an innate aspect of human nature rather than something that can be changed. It is often applied to explain why people often fail to save enough money for retirement.

11. The illusion of control:
The tendency for people to overestimate their ability to control events. 

This illusion can lead to a false sense of security, a lack of preparedness, and a false sense of confidence in your ability to succeed. Researchers have found that this bias is common in people across cultures, backgrounds, and demographics. People with higher confidence levels seem to be more prone to the illusion of control. And though this bias can be quite beneficial, it can also lead to disastrous consequences.

12. Incentive:
Something that motivates or encourages someone to do something. 

Examples of incentives include financial rewards, prizes, gift cards, and bonuses. Incentives can also be non-financial, such as public recognition, an employee of the month, or a thank you card. Incentives are most often used in marketing to encourage current or potential customers to buy a product or service.

13. Inversion Principle:
The process of looking at a problem backward. For example, imagine everything that could make your project go wrong instead of brainstorming forward ideas. 

The principle can be applied to any situation where you want to develop new solutions to problems. Backward thinking helps you develop new ideas by challenging your current way of thinking. Inversion takes mental flexibility to apply to any situation in your life. 

14. Loss Aversion:
Loss aversion can be observed in various situations, from investment decisions to risk perceptions. People tend to place more value on avoiding losses than on achieving equivalent gains. E.g., Some people are more distressed about losing $10 than pleased to find $10.

15. Maslow's Hierarchy of Needs:
A hierarchy of human needs is often represented as a pyramid in which lower-level conditions must be satisfied before higher-level needs can be addressed. 

In this hierarchy, human needs are arranged in five categories: physiological needs, safety needs, needs for love and connection, need for esteem, and self-actualization at the top of the pyramid.

16. Mere-exposure Effect:
It is a psychological phenomenon by which people tend to prefer things merely because they are familiar with them. 

The mere-exposure effect is a bias where people are more likely to select items based on past experience rather than new information. This can lead to confirmation bias, where people seek out information that confirms their existing beliefs and avoid information that conflicts with them.

17. Norm of reciprocity:
It's the expectation that we repay what another has done for us in kind. 

It is a deeply ingrained social norm that is believed to promote a positive cycle of behavior rather than a negative spiral of consequences. This norm inspires us to do good deeds for others, and when we receive a favor, we feel the obligation to pay it forward. When you have been on the receiving end of a good deed, you now have the responsibility to go out and do something nice for someone else.

18. Operant conditioning:
A learning process where the strength of a behavior is modified by reinforcing or punishing it.

Operant conditioning can be used to modify any kind of behavior and is often used to treat problems like ADHD, but it's also used to help people wanting to improve their performance. Operant conditioning often relies on a system of rewards, like a token economy, to reinforce desired behavior. There are many different types of operant conditioning, but they all rely on classical and operant conditioning principles.

19. Scarcity:
An item in limited supply and thus in demand in the market. Also, artificial scarcity is created when the government restricts the amount of a commodity that may be bought. 

People often react to scarcity by stockpiling goods and spending more money. This can be a response to anything from the uncertainty of a political climate to a natural disaster.  In the face of scarcity, people often turn to each other for support, building communities and trust. Scarcity can also lead to conflict, as people fight over resources.

20. Status Quo Bias:
A status quo bias is a preference for the current state of affairs, where the current baseline is taken as a reference point, and any change from that baseline is perceived as a loss. 

Status quo bias can also be understood as a preference for the “devil you know over the devil you don’t know” or inertia. Status quo bias is a common human bias often observed in decision-making. It can be beneficial in certain contexts, such as deciding whether to stay in or move out of a particular investment. However, it can also be very costly.

21. Surfing:
The business principle of “riding the wave” of new technology, a product, or a trend. 

When a new technology, product, or trend has the potential to impact your business significantly, you can ride the wave by exploring how it can be integrated into your existing offerings. Stay ahead of the curve by keeping an eye on cutting-edge technology and monitoring changes in the marketplace. You might discover that new technology has the potential to be adopted by your existing customers or to attract new ones.

22. Survivorship bias:
The logical error of concentrating on the people that made it past some selection process and overlooking those that did not, typically because of their lack of visibility. 

This frequently occurs in entrepreneurship. For example, if you profile successful entrepreneurs, you are unlikely to consider those who tried and failed. Examining the lives of successful entrepreneurs teaches us very little. We would do far better to analyze the causes of failure, then act accordingly. Even better would be learning from both failures and successes.

23. Tribalism:
A way of thinking in which people are loyal to their social group above all else. 

Tribalism is the opposite of individualism; it’s the idea that social status is more important than what you achieve. It’s the idea that your group — your family, friends, and co-workers — is more important than any other group.

 

How To Use Mental Models 

Mental models should not be mechanically applied to enhance your cognitive performance. There is a common misconception that mental models should be rigorously studied and employed. There are several mental models that you should do your best to avoid. For instance, an “illusion of control” can be particularly dangerous in certain situations, and it's good to understand them, so you are aware of the pitfalls.

It is crucial to be able to recognize mental models to grow as a human being, whether you are using them or communicating with someone who is. Ideally, you should decide whether or not to employ them rather than being swept away by our brain's habitual thinking.

 


Source: AZ Quotes

 

How can you master mental models, identify them in others, and beneficially use them? 

Here are a few strategies you may use to master mental models rather than being dominated by them.

● When thinking, ask yourself challenging questions.
● Challenge your thinking with actual facts by gathering information
● Ask others about their thoughts and challenge their opinions.
● Avoid jumping to conclusions and suspend your assumptions. 
● Be on the lookout for habitual thought patterns, and disempower them.

Being aware of your mental models is critical, as a tool is only as good as its user. Once you know your mental models, you can use them effectively to achieve your goals.

 

How To Build Your Mental Models

In a fast-moving environment, mental models can be instrumental in helping you think fast and make decisions. After all, they’re great at giving you a rule of thumb to predict likely outcomes or behaviors if done well. However, to really benefit from mental models, you need to build them actively and put them into practice.

The best way to do this is to constantly challenge your assumptions, actively seek out new information, and work towards testing your mental models through active experimentation. Doing this will help you continuously improve your mental models and make them more accurate, reliable tools for critical thinking.

Begin developing your own mental models by finding inspiration in people. When you read a biography, ask yourself: why did they make this decision? What was the reasoning? What mental model did they employ?

It's not always about famous entrepreneurs or creatives. We all have a friend or colleague whose work we admire. When you see them make a particular choice in a difficult situation, ask them how they arrived at that decision.

Ask for feedback from a friend or colleague to see if you exhibit any undesirable behaviors. It may be difficult and perplexing to self-observe, but it can be incredibly beneficial and enlightening.

It's essential to be aware of undesirable mental models and recognize the positive ones. Instinctively, you'll notice mental models you don't want to replicate. Studying them is also worthwhile because it is easier to avoid a mental pattern when you know how to spot it in yourself and others. Write down your mental models, whether they are constructive or destructive.

To delve deeper and learn more about mental models, visit Farnam Street

 

References: 
Farnam Street 
Anne-Laure Le Cunff 

 

Also published @ BeforeIt’sNews.com: https://beforeitsnews.com/education/2022/05/understanding-mental-models-to-improve-your-life-and-enhance-the-lives-of-others-2461449.html 

 

Tim Moseley

Gold silver see solid gains as USDX slumps

Gold, silver see solid gains as USDX slumps

Gold and silver prices are posting good gains in midday U.S. trading Thursday. The precious metals are boosted by a sharply lower U.S. dollar index and a slight decline in U.S. Treasury yields on this day. A wobbly U.S. stock market is also working in favor of the metals market bulls. June gold futures were last up $25.40 at $1,841.30. July Comex silver futures were last up $0.321 at $21.86 an ounce.

U.S. stock indexes have seen strong selling pressure recently and are near 12-month lows amid heightened worries about corporate earnings after Wal Mart and Target posted dismal results this week. Both companies cited inflation as the main culprit for their dour earnings numbers. An economic recession in the U.S. is now on the minds of traders and investors who were already saddled with other concerns, including the Russia-Ukraine war and Covid cases causing major cities in China to be on lockdown, which is disrupting global trade. Those concerns are also prompting some safe-haven demand for gold and silver.

U.S. dollar will keep gold price under pressure – VanEcK's Foster and Casanova

The key outside markets today see Nymex crude oil futures prices firmer and trading around $110.00 a barrel. Meantime, the U.S. dollar index is sharply lower and hit a two-week low. The yield on the 10-year U.S. Treasury note is fetching 2.837%.

Technically, June gold futures see a nine-week-old price downtrend still in place on the daily bar chart. Bears have the firm overall near-term technical advantage. Bulls' next upside price objective is to produce a close above solid resistance at $1,900.00. Bears' next near-term downside price objective is pushing futures prices below solid technical support at the May low of $1,785.00. First resistance is seen at today's high of $1,848.20 and then at $1,875.00. First support is seen at $1,825.00 and then at today's low of $1,808.40. Wyckoff's Market Rating: 3.5

July silver futures prices scored a bullish "outside day" up on the daily bar chart today. A price downtrend is in place on the daily bar chart. The silver bears have the solid overall near-term technical advantage. Silver bulls' next upside price objective is closing prices above solid technical resistance at $23.00 an ounce. The next downside price objective for the bears is closing prices below solid support at the May low of $20.42. First resistance is seen at $22.25 and then at $22.50. Next support is seen at today's low of $21.25 and then at $21.00. Wyckoff's Market Rating: 2.5.

July N.Y. copper closed up 1,045 points at 428.30 cents today. Prices closed near the session high today. The copper bears still have the firm overall near-term technical advantage. A price downtrend is still in place on the daily bar chart. However, more gains in the near term would negate the downtrend. Copper bulls' next upside price objective is pushing and closing prices above solid technical resistance at 445.00 cents. The next downside price objective for the bears is closing prices below solid technical support at the May low of 403.70 cents. First resistance is seen at 430.00 cents and then at 435.00 cents. First support is seen at 420.00 cents and then at this week's low of 413.15 cents. Wyckoff's Market Rating: 2.5.

By Jim Wyckoff

For Kitco News

Time to buy Gold and Silver on the dips

 

Tim Moseley

Gold recovers early losses as US stock market melts down

Gold recovers early losses as U.S. stock market melts down

Gold prices are up a bit at midday Wednesday. The yellow metal recovered moderate early losses as some safe-haven demand surfaced amid a big sell off in the U.S. stock market at mid-week. June gold futures were last up $1.40 at $1,820.50. July Comex silver futures were last down $0.11 at $21.64 an ounce.

Global stock markets were mixed overnight. U.S. stock indexes are sharply lower on corrective pullbacks following gains on Tuesday. A big earnings miss from Target help sink the stock market at mid-week. Traders and investors are also tentative on new reports that Covid continues to spread in China, after reports earlier this week that said China's government could ease up on its lockdowns.

Federal Reserve Chairman Jerome Powell on Tuesday afternoon reiterated the central bank's main goal is to tamp down inflation, even if it means pushing up the unemployment rate. He said the Fed "has the tools and resolve" to cool inflation. The marketplace read his latest comments as maybe not surprising but certainly hawkish.

2022's $1 trillion crypto wipeout: 'necessary cleansing' of excess speculation just like dot-com bubble – Bloomberg Intelligence

The key outside markets today see Nymex crude oil futures prices lower and trading around $110.00 a barrel. Meantime, the U.S. dollar index is higher in midday trading. The yield on the 10-year U.S. Treasury note is fetching around 2.9%.

Technically, June gold futures see a nine-week-old price downtrend in place on the daily bar chart. Bears have the solid overall near-term technical advantage. Bulls' next upside price objective is to produce a close above solid resistance at $1,875.00. Bears' next near-term downside price objective is pushing futures prices below solid technical support at $1,750.00. First resistance is seen at this week's high of $1,834.80 and then at $1,850.00. First support is seen at today's low of $1,805.00 and then at $1,800.00. Wyckoff's Market Rating: 3.0.

July silver futures see a steep price downtrend in place on the daily bar chart. The silver bears have the solid overall near-term technical advantage. Silver bulls' next upside price objective is closing prices above solid technical resistance at $23.00 an ounce. The next downside price objective for the bears is closing prices below solid support at $20.00. First resistance is seen at this week's high of $21.925 and then at $22.00. Next support is seen at today's low of $21.38 and then at $21.00. Wyckoff's Market Rating: 2.0.

July N.Y. copper closed down 550 points at 418.25 cents today. Prices closed nearer the session low today. The copper bears have the solid overall near-term technical advantage. A price downtrend is still in place on the daily bar chart. Copper bulls' next upside price objective is pushing and closing prices above solid technical resistance at 445.00 cents. The next downside price objective for the bears is closing prices below solid technical support at 400.00 cents. First resistance is seen at today's high of 424.80 cents this week's high of 428.25 cents. First support is seen at today's low of 416.10 cents and then at this week's low of 413.35 cents. Wyckoff's Market Rating: 2.0.

By Jim Wyckoff

For Kitco News

Time to buy Gold and Silver on the dips

Tim Moseley

World is threatened with famine

World is threatened with famine – warning of German minister

(information on important politics meeting from Czech web)

Russia's invasion of Ukraine threatens the world's biggest famine since World War II. At a press conference on Wednesday18th May 2022 German Development Minister Svenja Schulze said this at the start of a two-day meeting of development ministers from the countries of the group of major world economies of the G7. She said that it was therefore necessary to create an international alliance for food security.
"Food security was a problem before the war, but the Russian invasion of Ukraine dramatically escalated the situation," Mrs.Schulze said. "The world is facing the biggest famine since World War II," she warned.

The G7 food ministers invited as guests Indonesia, which now chairs the G20 group of the world's largest economies, India, Senegal and representatives of the UN development programme and the World Bank. Ukrainian prime minister Denys Shmyhal will also participate in the debates via video link.
One of the main topics of the meeting will be ensuring the export of agricultural products from Ukraine. Many countries in North Africa and Asia depend on this land, which is called the breadbasket of Europe.

Due to the Russian blockade of Ukrainian Black Sea ports, it is impossible to export grain and other food by sea, European states, including Poland and Germany, began to organize export by rail.

Thus, according to the German minister, food security is the most pressing issue that the ministers of the countries of the group will discuss. In Europe, we have too many fields sown with profitable crops, relying on imports from Ukraine, Russia and India. All three countries have enough to worry about.


Many of us can ask how it is possible that Africa, where it is possible to harvest crops twice a year is constantly dependent on food aid?

Global annual wheat production exceeds 700 million tons and is growing every year. The largest wheat producer is the European Union with an annual production of around 150 million tonnes. France and Germany have the largest share here. Only China, with a production of 130 million tonnes a year, can match Europe in wheat production. India ( 90 million tons) is also a major producer.  Russia (70 mil. tonnes) and the USA (60 mil. tons). In the Czech Republic, about 5.5 million tons of wheat are grown annually.
The EU is the largest consumer of wheat, accounting for 18% of global consumption. This is followed by China (17%), India (12%) and Russia (6%). Most of the wheat is consumed in the countries where it is grown, and about a fifth of the production goes to international trade. The largest wheat exporters are the United States (26% of global exports), Canada (14%) and Russia (10%).

Another important agriculture product is sunflower seed for oil production.
The three most important world growers produce 70-75% of the total volume of sunflower seeds. This is on first place  Ukraine (for the marketing year 2021/2022, the production estimate was about 17 million  tons), Russia (15,5 million t) and the European Union ( 10.5 million t).

Not only are food prices in Europe and around the world already rising rapidly, but the situation may get even worse. Let's hope that politicians will find a quick and good solution.

                    Thank you for reading

                                                       Margaret
 

Tim Moseley

Historic Gerrymander Win Could Set National Precedent

Historic Gerrymander Win Could Set National Precedent

by Micah Morrison, chief investigative reporter, Judicial Watch

 

Historic Gerrymander Win Could Set National Precedent

 

The Judge Was Not Pulling Any Punches

Siding with Judicial Watch in a challenge to a congressional redistricting plan cooked up by Democrats dominating the Maryland state legislature, Judge Lynne Battaglia—herself a Democrat—threw haymakers. The Democrat redistricting map was an “extreme partisan gerrymander.” Democrats had attempted to “suppress the voice of Republican voters.” It was drawn up with “partisanship as predominant intent.” It violated state constitutional provisions on equal protection and free speech. It subordinated “constitutional criteria to political consideration.”

Making history—for the first time, a Maryland court ruled that a congressional redistricting plan violated the state constitution—Judge Battaglia banned the use of the gerrymander map and ordered the Maryland General Assembly back to the drawing board.

Judicial Watch President Tom Fitton hailed the decision. “This key court victory against abusive partisan gerrymandering by Democrats in Maryland could set a national precedent,” he said. Maryland Governor Larry Hogan called it “a historic milestone.”

 

 

Judicial Watch filed the lawsuit on behalf of twelve Maryland voters who objected to the state legislature’s plan and was joined at trial by a second set of plaintiffs. The argument? The gerrymandered maps diminished their right to participate in a free and fair election on an equal basis with other Maryland voters. The court agreed.

The March ruling has begun to echo through the national debate. In New York, in April, the state’s highest court rejected a new redistricting map favored by Democrats dominating state politics. The court ruled that the map violated a state prohibition on partisan gerrymandering, saying it was created with “impermissible partisan purpose.” Court observers say the Maryland case was discussed in briefings and oral arguments in New York.

In 2019, the Supreme Court rejected political gerrymandering claims brought solely under the federal Constitution. Since then, the battle over redistricting has spread to state courts throughout the country. According to experts surveyed by Judicial Watch, cases related to gerrymandering and redistricting are underway in nineteen states. Among the states are the electoral powerhouses Texas, Florida, Georgia, Wisconsin, Michigan, and Ohio. You can read about some of the upcoming cases here.

Tough anti-gerrymandering measures are one way to start cleaning up dirty election practices, says Robert Popper, Judicial Watch’s director of voting integrity efforts. Gerrymandering is a “method of cheating [that] has been around for 200 years,” Popper told journalist Tim Pool. “If you’re a state that doesn’t have an anti-gerrymandering provision, then suddenly it’s a political issue. Why don’t you? You want districts that are ugly and screwed up for partisan advantage, you want to cheat opponents in state elections.”

In Maryland, the state legislature quickly capitulated in the face of the court ruling and signed on to a new, fairer redistricting map. In New York, redistricting has been turned over to a special master. But Popper warns of trouble in states where political gerrymandering survives, with partisan operatives possibly turning to “new, computer-generated maps” that could become “so convoluted that’s it’s effectively like you don’t have a district at all.” We’re not there yet, says Popper. “But if we don’t deal with gerrymandering, my prediction is, that’s coming.”

 


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Tim Moseley

Gold silver up but gains fade after upbeat US economic data

Gold, silver up, but gains fade after upbeat U.S. economic data

Gold and silver prices are just modestly higher in midday U.S. trading Tuesday and lost solid early gains after some stronger-than-expected U.S. economic data and rising U.S. bond yields. The metals were supported by rising crude oil prices that hit a nine-week high earlier today, and sharp daily losses in the U.S. dollar index. However, crude oil prices did back down as the session progressed. June gold futures were last up $2.50 at $1,816.50. July Comex silver futures were last up $0.134 at $21.685 an ounce.

The U.S. retail sales report for April showed a rise of 0.9%, which was close to market expectations. However, March retail sales were revised up to 1.4%. April U.S. industrial production for March came in strong at up 1.1% versus expectations for a rise of 0.5%. After these reports’ releases the metals started to ratchet down from their overnight highs.

U.S. stock indexes are higher at midday. The marketplace is more upbeat Tuesday on reports China will start to ease its lockdowns in major cities, including Hong Kong and Shanghai.

The marketplace will be watching a scheduled Wall Street Journal interview with Fed Chairman Jerome Powell this afternoon. Traders and investors will be keen to see if Powell remarks on timing aspects of Fed monetary policy and/or inflation, as well as the prospect of the U.S. economy entering a recession.

Gold faces new competition as real yields turn positive – USBWM

The key outside markets today see Nymex crude oil futures prices weaker after hitting a nine-week high early on, and is presently trading around $113.00 a barrel. Meantime, the U.S. dollar index is lower. The yield on the 10-year U.S. Treasury note is fetching around 2.9%.

Technically, June gold futures prices see a nine-week-old price downtrend in place on the daily bar chart. Bears have the solid overall near-term technical advantage. Bulls' next upside price objective is to produce a close above solid resistance at $1,875.00. Bears' next near-term downside price objective is pushing futures prices below solid technical support at $1,750.00. First resistance is seen at today’s high of $1,834.80 and then at $1,850.00. First support is seen at $1,800.00 and then at this week’s low of $1,785.00. Wyckoff's Market Rating: 3.0

July silver futures see a steep price downtrend in place on the daily bar chart. The silver bears have the solid overall near-term technical advantage. Silver bulls' next upside price objective is closing prices above solid technical resistance at $23.00 an ounce. The next downside price objective for the bears is closing prices below solid support at $20.00. First resistance is seen at $22.00 and then at $22.50. Next support is seen at $21.50 and then at $21.00. Wyckoff's Market Rating: 2.0.

July N.Y. copper closed up 445 points at 423.50 cents today. Prices closed nearer the session low today. The copper bears have the solid overall near-term technical advantage. A price downtrend is still in place on the daily bar chart. Copper bulls' next upside price objective is pushing and closing prices above solid technical resistance at 445.00 cents. The next downside price objective for the bears is closing prices below solid technical support at 400.00 cents. First resistance is seen at today’s high of 428.35 cents 430.00 cents. First support is seen at today’s low of 420.30 cents and then at this week’s low of 413.35 cents. Wyckoff's Market Rating: 2.5.

By Jim Wyckoff

For Kitco News

Time to buy Gold and Silver on the dips

 

Tim Moseley