Casimir Capital initiated coverage on Veris Gold Corporation. You can access the report by the following link.
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JON NADLER IS LAUGHABLY WRONG…YET AGAIN!
For those who want a good laugh, read yesterday’s Jon Nadler’s column at http://www.kitco.com/ind/Nadler/20130129.html. Here’s a guy who is permanently bearish on the precious metals, and despite his being consistently wrong for years, still has the gall to laugh at those of us who believe in the long term bullish story based on…fundamentals! However, rarely have circumstances conspired to show Nadler for the laughing stock he is than today’s news. On Jan 29th Nadler pens his usual mocking column; he talks about the improving economy; he laughs at bulls who just don’t understand that the Fed is just not going to keep QE for a long time; he links to an article that shows that Fitch is not going to downgrade Treasury Bills due to kicking the debt ceiling debate to another day; he shows that even technicals look bad for gold as there is resistance in the 1659-1679 area, and gold is more likely to drop to 1600. This might still happen, but what happened on 1/30, literally ONE DAY LATER, was just too funny. Starting in the morning an article comes out showing that far from roaring, the economy actually contracted .5% despite all the Fed stimulus; then Bernanke spoke and put to rest any expectation that he will suddenly stop stimulating the economy (which is so obvious to so many of us who understand that the Fed has no choice unless they want interest rates to sky rocket and see servicing of the debt swallow a much greater % of federal funds); and of course gold roared throughout the day and took out Nadler’s 1659-1679 level resistance. Sometimes Nadler seems reasonable as even a broken clock is right twice a day. However, he is so consistently one-sided regardless of the facts, that having him employed by Kitco is enough for me to not want to buy my gold from them. While I have known about him enough to realize what he’s about and laugh at him, he does real damage to the uninitiated who might believe him. Finally, how many of us gold bulls think that the debt ceiling and potential Fitch downgrades are why we’re interested in gold? For someone who is in the metals space to not realize that it is the National Debt that’s the problem (the debt ceiling is actually the potential solution, not the problem), is too much incompetence to even fathom.
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