Summer Has Ended Early – Here Are Key Events Over The Next Month To Watch
Marc Chandler, Head of Global Currency Strategy at Brown Brothers Harriman joins me to look ahead to the key events over the next month that will move markets. We discuss the Jackson Hole meeting, US jobs data, ECB and BOJ meetings, and finally the debt ceiling issue by the end of September. It will be a busy month as investors will be reacting to these ongoing stories.
Click download link to listen on this device: Download Show
Copper, zinc prices rising as supply tightens, demand grows
Environment regulations in biggest producer China affecting production
August 21, 2017
Threat of global Zinc shortage drives prices to ten-year high
EUGENE GERDEN | AUGUST 18, 2017
The Zinc stocks discussion carries on down below….
@HHorseman – “$GDXJ: …. Really got my attention now”
Charts of the Day: Some Interesting Patterns in Gold and Silver
The Hedgeless Horseman – August 21, 2017
http://www.thehedgelesshorseman.com/gold/charts-day-interesting-patterns-gold-silver/
funny comment from one of the mod’s over at ceo.ca:
@Vaughan – “please sweet baby Krishna make it to .25c or below. I will remortgage my house for $IPT. ”
___________________________________________
I’d agree with that sentiment and Impact Silver continues to offer a great opportunity at present prices to get positioned.
Most of the Silver thunder today was over to Dolly Varden again though on their continued drilling success:
____________________________________________________________________
(DV) (DOLLF) Dolly Varden Intercepts 13.22 Metres Grading 772 g/t Silver-Equivalent, Including 2.60 Metres Grading 2,555 g/t, in the Dolly Varden Deposit Area of the Golden Triangle, Northwestern British Columbia
by @newswire on August 21, 2017
https://ceo.ca/@newswire/dolly-varden-intercepts-1322-metres-grading-772-gt
Jeffrey Gundlach @TruthGundlach :
“GDX pushing higher after breakout from 6 month pennant. Now up to near looong term downtrend. Break above that & it’s “Katie bar the door”!
Gold’s Rally Against Oil Is Just Beginning
By Dani Burger and Guido Riolo – August 21, 2017,
Might be a reason Mnenchin moving to look at the GOLD in FT KNOX…..audit the FED
Need to keep the BASE happy……..
What is the Background of BROWN BROTHERS…….concerning gold and the Presidents…
the trail goes deeper……..Yale, Mnenchin, treasury, Bush
Bitcoin to $6000……..hungry little giant……..
Dumbest…….where is the underwear bomber
http://www.zerohedge.com/news/2017-08-21/christopher-columbus-statue-vandalized-baltimore-hes-central-narrative-white-nationa
Steven Mnuchin, Mitch McConnell to visit Fort Knox’s gold stash
Treasury Secretary Steven Mnuchin and Senate Majority Leader Mitch McConnell are headed to Fort Knox to see its gold hoard first hand.
Mnuchin announced Monday, while appearing with McConnell at a Chamber of Commerce event in Louisville, Ky., that he would tour the bullion depository so that he could personally attest that the roughly $200 billion worth of gold there is part of the government’s assets.
Time to bring in the Tungsten bars………………better check the bar numbers and see if they are registered with the treasury………
I would rather have RON PAUL go and check……..
Get some gold bugs to go along also…….
Send in James Dines, Al Korelin, and Jim SInclair.
Fine with me……. 🙂
HA,HA,HA……..The GOLD is SAFE…….
HOW ABOUT AN AUDIT>>>>>>
LIKE I SAID>>>>>>>>>>
Peter Schiff sinks fool socialist young jerk Cenk Uygur regarding high taxes and prosperity.
HOW about NO TAX……..
Peter’s dad had some great articles on Tax and the IRS scam
McConnell Vows to Raise U.S. Debt Ceiling Zero Chance’ Swamp Will Vote Against
LOUISVILLE, Ky. (AP) — Senate Majority Leader Mitch McConnell says there is “zero chance” Congress will allow the country to default on its debts by voting to not increase the borrowing limit.
McConnell’s comments came Monday during a joint appearance in his home state of Kentucky with U.S. Treasury Secretary Steven Mnuchin. It was one of McConnell’s first public appearances since President Donald Trump publicly criticized him for failing to pass a repeal and replacement of former President Barack Obama’s health care law.
McConnell did not mention Trump in his remarks, and he did not take questions from reporters after the event. But in response to a question about where he gets his news, McConnell said he reads a variety of sources, including The New York Times.
“My view is most news is not fake,” McConnell said, which appeared to be a subtle rebuke of one of Trump’s favorite phrases. “I try not to fall in love with any particular source.”
Poll: Mitch McConnell’s Kentucky Approval Rating Plummets to 18 Percent
The approval rating of Senate Majority Leader Mitch McConnell (R-KY) has plummeted to just 18 percent, a survey from Public Policy Polling has found.
The poll, which surveyed 645 Kentucky voters, found that just 18 percent of respondents approved of McConnell’s current performance, compared to 74 percent who disapproved. Seven percent of people said they were not sure.
McConnell, who is the longest-serving U.S. Senator in Kentucky history, having represented the state since 1984, was recently criticized by President Trump for failing to pass the healthcare reform bill through the Senate.
“Can you believe that Mitch McConnell who has screamed Repeal & Replace for 7 years, couldn’t get it done,” Trump wrote on Twitter earlier this month. “Mitch, get back to work and put Repeal & Replace, Tax Reform & Cuts and a great Infrastructure Bill on my desk for signing.”
Mitch needs to be voted OUT……
+1
GOP……..in deep doo doo
Seems I’ve heard of cases where there are no political parties. Not sure how it works instead…
Would sure be nice to get rid of all of them. Maybe a voyage on the USS McCain for 535 to the South China Sea?
Eye, Eye, matty we see eye to eye…….. 🙂
Gun-Controlled Chicago: at Least 63 Shot, Eight Killed over Weekend
At least 63 individuals were shot and eight were killed over the weekend in gun-controlled Chicago.
According to the Chicago Tribune, over half the shootings occurred within “13 hours from Saturday to early Sunday.” This was followed by the shooting of 16 people during the day on Sunday, and three of the victims were shot on the same street—South Austin.
The weekend violence brings gun-controlled Chicago’s homicides to 451 for the year, which is only 16 homicides short of where Chicago was this time last year. Chicago ended 2016 with nearly 800 homicides and roughly 4,400 total shooting victims.
The weekend violence also makes August 18-20 second only to the Fourth of July weekend for bloodshed and mayhem this year. Breitbart News reported more than 100 people were shot over the Fourth of July weekend and the Chicago Sun-Times reported that 36 of those victims “[were] shot across the city in an 8-hour span of violence between 8 p.m. Tuesday and 4 a.m. Wednesday.” Six of the victims shot during that eight-hour span lost their lives.
Majors vs Juniors – What Is Riskier? – Adrian Day Explains
by @TomWallace (Junior Insider) on August 21, 2017
https://ceo.ca/@tomwallace/majors-vs-juniors-what-is-riskier-adrian-day-explains
Nice breakout on the GDXJ chart today:
http://stockcharts.com/h-sc/ui?s=GDXJ&p=D&yr=1&mn=9&dy=0&id=p76504851266&a=539093952
If there’s going to be a smackdown, now is right about the time…
http://stockcharts.com/h-sc/ui?s=JNUG&p=W&yr=7&mn=0&dy=0&id=p00105825271&a=540602246
Not that I really expect a smackdown, but that’s generally about the time the precious metals give me a dropkick.
I lean toward a breakout and some long awaited energy to the upside.
http://stockcharts.com/h-sc/ui?s=SIL&p=D&yr=1&mn=11&dy=0&id=p57338846384&a=413881953
A smackdown is unlikely so I bought five silver miners today and one gold miner.
http://stockcharts.com/h-sc/ui?s=GDXJ&p=D&yr=0&mn=9&dy=0&id=p32327624958&a=540619417
Zinc Explorers 3 week continued strength as of 8/18/2017
Argonaut Gold
Trevali Mining
Callinex Mines
Mines De La Vallee
Constantine Metals
In Zinc
GPM Metals
What about:
Tinka Resources
Vendetta Mining
Canada Zinc Metals
Fireweed Zinc
Pine Point Mining
Heron Resources
Zinc One
Foran Mining
Arizona Mining
Galway Metals
Great Bear Resources
Ironbark Zinc
Boliden AB
Macphersons Resources
Karmin Exploration
Red River Resources
GTA Resources
Golden Rim Resources
Alara Resources
Kooetnay Zinc
Metalicity Ltd
Chieftan Metals
Bunker Hill Mining
Bowmore Exploration
Hannan Metals
Imperial Metals
Overland Resources
Orosur Mining
Consolidated Zinc
Encounter Resources
Terramin Australia
PNX Metals
Rathdowney Resources
Palamina Corp
Puma Exploration
Peel Mining
Savant Explorations
Slam Exploration
Telson Resources
Thunderstruck Resources
Solitario Exploration
Yorbeau Resources
Venturex Resources
Star Mountain Resources
Taranis Resources
Pasinex
or about a few dozen other Zinc companies? 😉
Shad:
The ones I posted have had higher highs at the close on Friday of that week for three consecutive weeks.
I have Argonaut on my Zinc Co’s over 1.00 list,I don’t know why and you are correct that they don’t have any Zinc exposure.
Also USA.TO should be on the list.
Thanks for the list I’ll check which ones I don’t have yet.Quite possibly some could have gained one week,went down the next and not made the list.
These are not necessarily the best zinc stocks but they are showing strength.
Also there could be some Silver stocks with Zinc exposure as well not on the list. Zinc Co’s.
Abitibi Royalties
Hud Bay Minerals
Lundin Mining
Imperial Meatals
Ivanhoe
Nevsun
Arizona Mining
Trevali
EMX Royalty Corp
Capstone Mining
Lara Expl.
Tinka
Strategic Metals
Globex
General Moly
Nevada Zinc
Altair Res.
Callinex
Trigon Metals
Mines De La Vallee
Canada Zinc Metals
Orosur Mining
Foran Mining
Pine Point Mining
Hannan Metals
East Africa Metals
Salazar Resources
Ascendant Resources
Fireweed Zinc
Nautilus Minerals
Aquilla Res
Vendetta Mining
Aldridge Minerals
Canada Zinc Corp
Constantine
Eagle Plains
Canasil
Caribou Rose
InZinc
GPM Metals
Avrupa
Taranis Res.
Candente Copper
Heron Res
Silver Bull Res.
Pacific Ridge
Northern Shield
Golden Goliath
Fancamp
Slam Expl
Frontline Gold
ExGen Res
Pine Point Mining
Thunderstruck Res
Karmin Expl
Excellsior Mining
Americas Silver Corp
Nice further list. I have most of those on my Zinc list as well, and still have even more to post, but most of the more notable ones are covered on both our lists above. There are still some larger commodity miners and more Aussie stocks to list, but that is PLENTY for investors to start digesting.
Cheers!
Some of those on your list are more focused on Copper though….
Also: Why was Argonaut Gold on that Zinc list?
I’m a big fan, and shareholder of (AR) but I wouldn’t consider them a Zinc stock.
$AR $ARNGF Argonaut Gold Inc.
Q2 2017 Results Conference Call – August 11, 2017
#Gold #Producer #CorporatePresentation
http://www.argonautgold.com/_resources/presentations/Q2-2017-Conference-Call-Final.pdf
Just as a note AR.TO is showing three week continued strength.
I have a feeling AR will continue until it is 3 years of continued strength.
Argonaut is a solid mid-tier gold producer that could still easily be a 5-bagger from here, just to get back to previous highs, (when its assets and costs were not nearly as robust as they are today).
Here’s some Silver. 4 month new high.
Silver Grail Resources
America’s Silver Corp
BayHorse Silver
Maya Gold and Silver
NIce. Yes I’ve been digging the move in Bayhorse Silver lately.
I watched a video a while back on BayHorse on You Tube. I was impressed with the President Graeme O’Neils commitment to keeping the float down.
They are also using an Ore Sorting machine (and just proved how effective it was in a test batch of ore processed) to upgrade their ore and make it “Direct Shipping” grade. This keeps the costs down and allows them move down the cut-off grade of their resource because the grade is compounded upward by discarding 80% of the waste material at site.
Silver grail has been moving due to the success at Tueton/Tudor and IDM as of late.
The grail will be traveling with the Tueton Knight…… keep an eye on these silver plays, I have it from a good source………… 🙂
Very chivalrous of you….
Of course Americas Silver is destined for great things….
Saw an advertisement on the web for Salt,I believe it was Salt Technology. They will lend you money and use your crypto as collateral. Couldn’t find the ad again or I would post it.
None the less,an interesting advancement for the Crypto’s.
Saltlending.com
Thanks for the link CFS:
Just finished World Without Cancer. Thanks again.Funny how almost everybody in my family has died of cancer and I’ve never heard of Vitamin B-17. You might have just saved my life.
Im interested to know more John. Was this a doco about vitamin b17? Ive heard briefly of some benefits of this vitamin.
Oz :
This was a comprehensive read of the Political and Financial interests of the Medical Industry in the United States, those who control it, and why.
I see. Thanks. Might have to look further into it.
JohnK,
Ty Bollinger has produced a series called ‘The Truth About Cancer’ and there is another one called ‘The Quest for the Cure’. These have aired online for free in the past, and I imagine they will again.
My brief view on cancer prevention/cure: 1) gut health and good nutrition; 2) detox (remove toxins from food/environment and implement detox regimens periodically); 3) exercise, good sleep, positive mental/emotional state.
Cannabis is very good medicine against some cancers. Again, a documentary was recently aired called ‘The Sacred Plant’.
Cant be true, only dopes smoke dope.
Smoking probably IS the worst way to do it… they’ve got oils, tinctures, vaporizers, sublingual sprays…;-).
In the plus column, a UCLA study trying to link smoking cannabis to lung cancer found the opposite–no connection.
https://thetruthaboutcancer.com/does-smoking-marijuana-cause-lung-cancer-video/
THC is more therapeutic for some things, CBD for others. THC is what makes people dopey. CBD apparently isn’t psychotropic.
Then there’s juicing the raw stuff to get THCA–also no dopiness associated, but with powerful health benefits. Apparently with heat and drying the THCA begins to convert to THC, so the leaves or bud need to be fresh. The interview I saw (MS patient in remission) said it requires 50-100 leaves a day, or 1/2 ounce of bud. That’s a lot of cannabis–to get the benefits of juicing, one would need to grow one’s own.
Appreciate the info G.H:
The KE Report and the contributors are the best.
Cheers my friend.
My pleasure. Cheers 🙂
I don’t hear many discussing Aura Minerals (ORA) in Brazil much lately, but they are a distressed producer in Brazil (like Jaguar – JAG), that I’ve been accumulating this year into their lack of visibility and unnoticed turn-around in process.
Looks like it is starting to get noticed….
Aura Minerals Announces Q2 2017 Financial and Operating Results
08/15/2017
(KNT) K92 Mining Intersects Kora Vein in Cross Cut from Kora Exploration Drive
by @marketwired on August 22, 2017
https://ceo.ca/@marketwired/k92-mining-intersects-kora-vein-in-cross-cut-from-kora
The words of a Movie maker……GOLDMAN SAKER……….the last line in the story says it all.
CALL FOR AN AUDIT>>>>>DUMMY>>>>>>
This so called VISIT……will never satisfy a gold bug….take some picture and have an assayer acid test random bars, with an audit of every bar in the joint.
I’m from the Government and I’m here to control you?
http://bgr.com/2017/08/18/brain-hack-science-limb-control/
No kidding:
For Sale: Hats. Special tin-foil lining.
Trump………more troops…….following the path of ROME………joker is taking WRONG advice from BUSH’S GEN. HADLEY…..
We have been there 17 yrs……..and a Trillion bucks spent…….
No way will he be reelected……..rant of the day
well , I guess I am not the only one upset………. 🙂
Ron should have had a little more FIRE to his speeches when he ran, he might have gotten elected………… jmo
And the alternative is?
ME………I know more than anyone………he,he,he….. 🙂
Denison Reports 3.7% eU3O8 Over 3.9 Metres From Initial Follow Up Drilling at New High-Grade Basement Uranium Discovery at Waterbury Lake
by @marketwired on August 22, 2017
https://ceo.ca/@marketwired/denison-reports-37-eu3o8-over-39-metres-from-initial
I noticed Uranium Resources changed its name to Westwater Resources and ticker from URRE to WWR.
Yep. I gave up on them this January when their focus shifted from Uranium to Lithium and they didn’t outline clearly what their plans for their acquisition in Turkey was all about. They seem to have a lack of focus and identity crisis, so I focused on the Uranium companies where that is their bread & butter.
Paladin crashes: Malawi Uranium miner files for insolvency in Australia
August 18, 2017
https://www.nyasatimes.com/paladin-crashes-malawi-uranium-miner-files-insolvency-australia/
Uranium Prices: Environmentalists, Scientists Push for More Nuclear Power
By Leia Toovey -August 18, 2017
http://www.stockhouse.com/news/press-releases/2017/08/22/amarc-and-hudbay-partner-to-advance-the-joy-copper-gold-porphyry-projectMan. I need to stay on top of things better. Used to watch the hunter Dickinson group of holdings as they seem to always make money in the end with their deals if you time things right. Forgot to keep an eye on Amarc that had great properties but no money. Now they have a second joint venture with hudbay.
http://www.stockhouse.com/news/press-releases/2017/08/22/amarc-and-hudbay-partner-to-advance-the-joy-copper-gold-porphyry-project
Klondike gold trading halted?
They messed up and put out a paid pump yesterday with information that apparently hadn’t been released to the market yet, and so they got halted, so they could place a retraction statement.
__________________________________
‘The Company wishes to retract the quote in the article of “It makes the 20 million ounces that have been collected on the surface of the seem like gold dust. A mere flash in the pan.” This is an egregious statement with no technical merit, is misleading and a violation of TMX Venture Exchange Policy 3.3, 8.2 and is wholly and fully retracted.
The Company wishes to retract the quote of “The verdict: Not only was Klondike’s property ‘good’, it was exceptional: It’s sitting on channel gravels that have given up 20 million ounces of placer gold (worth $25 billion USD today)”. This statement is unsupported and misleading, and disclosure of gross values of metal is a violation of NI 43-101, 2.3 – Restricted Disclosure. For clarity, the Company’s bedrock claims cover the areal extent of the Klondike placer ‘channel gravels’.’
Beauty and the Beast
Which One…….
hahahaha…so true
Hey ex I know you’re not into individual biotech plays but you may want to look at portage biotech. They hold 6.34M shares of a company called biohaven along with other subsidiaries. They are trading at least than 50% of what the biohaven holdings only are worth.
I’ll take a look see, but yeah, I generally only trade the biotech ETFs because I have a hard time valuing proprietary information, trials, tech, medicine, etc….
Wolfster – I absolutely appreciate the heads up though. Ever Upward!
Looks like Theralase has good news out today as well, but I don’t own or follow the company very closely. Just saw it in passing….
I don’t have a clue either but when I see something trading at .35 and just one of its assets is worth .75 I take notice. Especially when the person who pointed it out to me also pointed out gzz to me at .13
Nice. Thanks again.
No problem. Maybe you can figure out why it’s now worth .795 but trades where it does. I know there’s certain tax implications if they divest of biohaven but this is getting ridiculous
I saw the information about their subsidiary Biohaven, but again that is where the valuation on these get a bit screwy and hard to determine. With miners I can estimate the reserves and metals prices in a deposit, or the projected ounces per year of production and remaining mine life to get a quick ballpark on a divested asset. With proprietary info, trials, approvals, etc… with pharmaceuticals it is much more challenging to figure out what they have tied up in Biohaven, or what they themselves have.
Did Thom C. recommend it?
No. It’s a friend who is in the investment field. Occasionally passes on a special buying opportunity
nice Historical chart in the beginning portion of the article…….jmo
Very low risk JDST entry today – stop 57.99
Inca One Gold Announces 109% Increase in Yoy Gold Production, Electrical Update and Changes to Board & Management
August 22, 2017 – INCA ONE GOLD CORP. (IO) (INCAF)
http://incaone.com/news/news_releases/index.php?content_id=199
The commodity complex looks very weak to me. Sure Jackson Hole could turn everything on a dime, but I am not sure this time.
FWIW, back in 2010, commodities started rallying a full month before QE2 was announced in Jackson Hole (probably GS and JPM frontrunning). Of course, commodities most notably silver, went on to spike bigtime into 2011.
No rally before the news this time though. In a vacuum, the chart looks very weak to me and the June lows look almost certain to be taken out. Double bottom/reversal point? Maybe, but at that point, the 2016 lows will be spitting distance away. Now wouldn’t that be a nice little stop run?
http://stockcharts.com/h-sc/ui?s=GCC&p=D&b=5&g=0&id=p63478216969&a=540682669&listNum=1
We’re in a much different place in the cycle of all asset classes now than we were in 2010 (coming out of the 2006 & 2007 highs bullish period and followed by the 2008/2009 Financial Crisis).
Apples and Oranges….
Follow specific commodities instead of the basket. Many commodities are hitting new yearly highs as supply vs demand issues exist
Bingo. Following a basket of commodities is a bad idea because Oil and Gold and Zinc and Copper and Corn and Coffee or Cocoa all have completely different drivers and are at totally different places.
Copper finds new base level, volatility anticipated: Antofagasta
London (Platts)–22 Aug 2017
The copper market “is currently exhibiting unexpected strength, but it is unclear if this can be maintained although it does appear a new base price level has been established at $2.50-2.60/lb, [$5,512-5,732/mt]” Antofagasta plc said Tuesday.
“The outlook in the mid to longer term continues to be favorable as demand is expected to grow at around 2% while supply growth remains constrained,” the UK-listed Chilean miner said in its half-year results statement.”
“In the shorter term, “the market is moving to a tighter demand-supply position with a small deficit expected this year and next,” Antofagasta said.
I largely agree, Excelsior, with the exception that I like to look at the indices for the very big picture–currencies vs bonds vs stock market vs commodities. I keep looking for a reversal of the stock market vs commodities but, while tantalizing, nothing definite yet to say that reversal is in yet.
e.g.
Yes, commodities did break down through that longer term trend-line off the bottoms, so it doesn’t look very rosy yet. I’m sure that Oil’s weakness coupled with Soft Commodities, Uranium, and Metals weakness has played a large part in that.
However, commodities like Palladium, Zinc, Lead, Copper, and Cobalt have been on a tear for the last year or two, and Gold/Silver have been relatively flat compared to other commodities. I like looking at each sector in isolation for the most part.
then and now……….
Updated gld:gdx. It doesn’t get any tighter.
http://stockcharts.com/h-sc/ui?s=GLD%3AGDX&p=W&b=5&g=0&id=p64898927581&a=540689256&listNum=1
GOP…..in deep doo doo
I dont see how they are Jerry.
Standard procedure is the other head of the snake takes the lead for awhile.
What ever it is will pass and at the right time the gop returns to prominence.
Good point…..I forgot for a moment about the TWO HEADED SNAKE…..I was thinking there was a difference…….
Sen Mc Connel’s comments that there is no chance Congress will fail to raise the debt ceiling along with new contracts for Boeing for new ICBM’s .Looks pretty much like business as usual to me.
YEP
That was kind of the jest of my earlier rant, concerning TRUMP and the deep state general Hadley……more war , more taxes, more poor citizens….ROME at it BEST
it to it’s
Snowman par three,rest looking for ball in tall grass.
FOUR>>>>>> 🙂
With all this war talk………silver should be sky high……..they need silver for bombs….
It is and will be business as usual until we are all dead…unless the Chinese and Russians figure out how to stop us.
As for silver going up, like gold we dont know supply.
Also, if it was considered essential to have it it would just be made illegal to own.
What would anyone do with it when possessing it carried a 20 year sentence?
Moe likely when tptb wants it, they will let the price rise enough that some people sell, when they have what they need down goes the price.
Silver stinks………silver stealers.net …..Steve S…has it pegged….jmo for today, might change my mind tomorrow….but,as long as the cftc and sec are still jerking the chain, nothing is going to change.
Ya, Ive read that stuff, not from that site tho, so there are a few people telling the story.
Ya gotta wonder just how much they have stored after so long collecting metals.
Thats why we really cant know supply.
The supply demand equation is pointless.
That equation is what so many PM pumpers use to promote themselves.
And it totally irrelevant.
One silver mine, in the top 10 , which I posted , has been producing since 1550….makes you wonder about the supply.
CRYPTO Magic…….2000 % return……..in Hedge Fund
http://www.zerohedge.com/news/2017-08-22/cryptocurrency-hedge-fund-returns-2129-ytd
The Internal Revenue Service is using bitcoin transaction tracing tools developed by startup Chainalysis, according to a new report.
Documents obtained by Washington publication The Daily Beast show that the tax agency has been using the startup’s software since 2015.
Additional data from the General Services Administration, which handles the US government’s logistics, indicates that the IRS has an active contract with Chainalysis that is valid through the beginning of September. To date, the IRS has paid Chainalysis more than $88,000.
The IRS states in the documentation that it’s using the software to “trace the movement of money through the bitcoin economy,” going on to explain:
“This is necessary to identify and obtain evidence on individuals using bitcoin to either launder money or conceal income as part of tax fraud or other Federal crimes.”
While it’s no secret that US officials are interested in closer oversight of cryptocurrency activities – a group of influential senators pushed for this kind of policy shift in late May – the IRS contract is notable given the tax agency’s investigation of potential tax avoiders and its ongoing lawsuit against exchange startup Coinbase.
As previously reported by CoinDesk, the IRS wants to obtain several years’ worth of data on customers of Coinbase.
CFS: I’ve always found that owing the IRS is a good thing.
You’re like Willy Nelson…….he wondered why the IRS would loan him $7million….. 🙂
Chainalysis……is going to hack the IRS……..
J Rickards said a few times the irs was following the cryptos.
reminded people to remember to pay tax on profits.
They should just tax the Fed, since, they are 100% profit…..no cost , no overhead
Currency used as money is dependent upon confidence.
Destroying confidence in crypto will destroy it.
Avoid some tax with a BITCOIN IRA……..
http://www.zerohedge.com/news/2017-08-22/how-set-your-own-bitcoinethereum-ira
Young people need to think about this because……..Social Security is BROKEn
BDC:
I don’t think Mark Cuban agrees.
https://www.coindesk.com/mark-cuban-backs-former-coinbase-employees-20-million-token-fund/
His investment has nothing to do with the truth of it.
It’s likely that cryptos will be discussed this week at Jackson Hole, even if only secretly behind closed doors only.
http://www.zerohedge.com/news/2017-08-22/ron-paul-institute-statement-trumps-afghanistan-speech
Another RON PAUL moment……………
@Goldfinger – “Global Zinc inventories are now at 11 days consumption as zinc price reaches highest level in a decade. “