The Good Morning Report – 11th of June

1. For the first time in 18 months the People’ Bank of China (PBOC) did not buy any GOLD….I’m pretty sure they will be buying the dip.

2. AFR reported that insolvencies in Australia are running at a 25 year high….Small business is getting crushed.

3. Unemployment rate in Canada has now pushed up to 6.2%…..I’ll be stunned if if we don’t head higher as well – our rate currently sits at 4%.

4. Guzman y Gomez (GYG) increased the size of the IPO by $100 mil to $335 mil as an existing private equity investor decided to take a bit more off the table….With 42% more shares now available and GYG priced at a very high multiple, I’m doubtful it will surge when it starts trading on the 20th of June.

5. Roaring Kitty aka Keith Gill did a live stream on Friday night right as Gamestop shares were crashing. He looked drunk and laughed it off while losing a few hundred million on paper…..GameStop the company, stopped the short squeeze in it’s tracks by announcing a whopping 75 million share issue thus giving short sellers a smooth exit if needed.

ASX SHUT for the King’s Birthday.

Dan Andrews was awarded top honors by the King for his key role in promoting the SCAMDEMIC….He currently has the ultra creamy job of advising Twiggy about how Fortescue (FMG) can fool the world into believing that they’re in the business of selling “green iron ore”.

Dan is one of the greatest con artists Australia has ever produced, yet he’s still adored by countless brainwashed Victorians….Absolutely incredible!!

This BBC journo exposes every central banker and mainstream economist in a 30 second clip….I hope he doesn’t get fired!

It will be a weaker day for us. We had a public holiday yesterday so things like ETPMAG (AUD SILVER) didn’t trade; it will likely fall around 4% on the ASX.

  • SPI is down 24 points
  • Bitcoin up 0.2% to 69,953
  • BHP in US up 0.4%
  • Newmont in US up 1.92%
  • URNM in US up 0.94%

Movements affecting our resource stocks today (USD)

  • Gold up 0.15% to $2328
  • Paper Silver up 1.32% to $29.83
  • Platinum up 0.66% to $977
  • Palladium down 1.15% to $913
  • Copper up 1.47% to 4.54%
  • Brent Crude up 2.71% to $81.78
  • Iron ore down 3.1% to $105.40

Japan up 0.92%, China and Hong Kong Shut for Dragon Boat Festival

India is going to need all the COAL it can get as it’s economy grows exponentially over the coming decades – so this is a smart move. Reliability of supply will be a key risk though.

DOW up 69 points to 38,868

As Gamestop shares fell another 12%, Roaring Kitty tweeted this out….

Is the short squeeze over after Gamestop announced a 75 million share issue? It could be….but there was some huge buying of out of the money call options last night meaning someone thinks it is still game on….Roaring Kitty did hold up a wild card in his live stream so you never know!

Germans down 0.34%, Brits off 0.2% and Frenchies fell 1.35%

French stocks rolled over as Macron announced a snap election after his party suffered a massive defeat in the EU vote….Unfortunately for the world, the warmonger, Ursula von der Leyen will likely stay as the European Commission president for another 5 years.

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