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Today's news release

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct 20, 2014) - Moose Pasture Resources (TSX VENTURE:MOOS) announces that it has signed a non-binding letter of intent (LOI) with an undisclosed third party in regards to its flagship property. Under the terms of the LOI, Moose Pasture is set to give away just about all the potential upside in return for enough cash to cover its accounting bills for 2014 which allow the company to limp into 2015.

Anne Elk (Miss), President & CEO of Moose Pasture commented on the LOI by saying, "We are obviously fucked as a company, but at least this way I get to play at boss for a few more months and you never know, gold might pop by $300 an ounce and save us all. Anyway, I found these suckers who'll pay our G&A in the meantime and managed to convince them that our shitty piece of land might be worth something".

Chart of the day is...

...the gold/silver ratio:

Know any silver miners that use a 55/1 ratio for their AgEq calculations? Yeah, me too.


The IKN Weekly, out now

IKN284 has just been sent to subscribers and Teo Gutiérrez is class. Read the game, read the play, position, decision, execution and make it look simple, too. All hallmarks of the best strikers, he has a bright future and it's going to be a pity to see him leave River.

Peru Presidential Polling: Ollanta still bouncing round the lows

Today's Ipsos October edition of monthly opinion in Peru about President Ollanta Humala headlines a 2% improvement since the last poll in September, but the truth is that he's still returning crappy numbers.

Meanwhile, you may like to know that the Head of State in Peru scored 34% approval. She has more about her than her husband, y'see. Data from here

Chart of the day is...

...the comparative price performances of a whole bunch of mid-sized gold producers year to date, as well as the GLD and GDXJ lines in the sand:

Lake Shore Gold round of applause, Luna Gold loud booing.


Hey Otto, what's the beef you have with brokerages and analysts anyway?

Oh ye of short memory. Ok, remember this one:

Dorato Resources yeah, the P+D scam run by the Cardero Group, Henk van Alphen, Jeff Pontius, Carlos Ballon and the merry band of pranksters. OK, so remember how the insto staff at Canaccord, PI Fincorp, Haywood, GMP etc all bought into the seed funding round? You don't? Well here's the reminder. In short, the beef with Canadian brokerages and the people who work there is that they're two-faced pieces of shit who don't give a damn about their clients. We good now?

Just add it on the hot rod death toll

Data versus anecdotals

Gary BiiWii makes a point today about negative feedback, which included this passage:
" point with this post is not to cry over some negative feedback.  It is to sort of shake my head publicly about how some people refuse to open their eyes while digging in to a failed view point no matter how long its failure persists."
That's fair enough, I agree, what's more it's a riff I've seen in other places recently, too (eg Krugman's been shaking his head publicly the last couple of days over his "inflation derp" enemies). I'd encourage you to read the whole article (even over a weekend when people shouldn't care so much about worky cashy profity things) to get the context, though after reading it I have two things to add:

1) Look at the words used by the negative commenter: "completely wrong", "absolutely no credibility", "definitely don't" are all used in that very short extract and if there's one thing I've learned about macro debate, the person who uses absolutes is the person who's talking out of his large intenstine, rectum and sphincter.

2) Too many people who think they have a valid opinion (and don't) fail to understand what data collection and statistics are trying to achieve, either through ignorance or simple refusal to accept things that challenge their own personal realities. Dullards all, their worldview boils down to "This is like this for me therefore it must be exactly the same for the whole of humanity" and is boring, boring and three times boring. Data and stats don't have the last word on anything and are in the end subjective in their own manner, but they're far less subjective than dumbass who writes in absolutes and when done correctly (or even reasonably well is enough) they convey more experiences of more people than one person's subjective experiences. Data compiled by people such as the Fed don't exactly match anyone's life, they try to get a handle on the median life. 

Anyway, go read Gary's post today. Good stuff as always.

Ex-soldiers living with PTSD

A magnificent piece of journalism. The Guardian reports on Post Traumatic Stress Disorder and its effects on ex-soldiers. It's not a new subject but this long-read report is of the highest quality and is essential, fascinating reading. If just one reader clicks through and reads the report, today's IKN has done a good thing.