In your opinion, what does this blog need more of?

Friday, November 29, 2013

It's a set and forget world, so only a couple newsbits


Two news items, neither particularly important:


Market Anthropology - a closer look at gold and silver. I'm sorry, but this is not informative; it's simply printing one chart on top of the other again. But if you really were to take the junior miners as a silly bubble that burst horribly, similar to the Nasdaq bubble of 2000, then you have to remember that the Q's peak still hasn't been beaten 13 years later. In fact, 5 years after the 2002 bottom, the Nasdaq had only recovered 34% of its losses: that would mean silver slowly trending upward to $25 by the end of 2018.

Frankly, the assumption of a correspondence between the 2002 Nasdaq bottom and the 2013 silver supposed bottom (which hasn't been confirmed yet) doesn't make me want to go out and buy silver, because continued correspondence would only mean silver underperforming the S&P 500 for the next five years.

However, I do agree with his thesis that the next move up for gold and silver should depend on world economic reflation, and not anything to do with the discredited "money printing" goldbug story.


Ritholtz - no, David Rosenberg's bullishness was not purchased for thirty pieces of fiat. Ritholtz stands up for Rosie after Rosie is accused of (as far as I can figure) going bullish in return for filthy lucre - obviously handed over by the secret cabal of Jewish bankers trying to enslave Amurica under communism and Shari'a law. By using Balrog HUSSEIN Taxbongo's magic negro ray of muslim Kenyan gay marrying. Or something:
But to me, the most revealing aspect of Zero Hedge’s hit piece is the opening sentence: “In early 2013, many were mystified when one of the most vocal deflationists, and hence stock market bears, David Rosenberg, turned furiously bullish.”

Except anyone who pays attention to equity prices — they were not mystified: Year to date, the S&P500 is up more than 25% and the Nasdaq is up more than 30%. What is mysterious is that no actual market performance so much as enters the discussion. The most revealing thing I can write about the piece is that nowhere does Zero Hedge bother to admit that Rosenberg’s call was 1) Correct and 2) Made money for clients.

How can you make a big deal over a change in market posture but omit that its been right?

When your biases are such that it is unimaginable that anyone could legitimately change their views on the markets, you have cognitive issues that will hurt your ability to navigate markets. But when that hubris leads you to conclude someone disagreeing with your market posture is only due to a monetary payoff, that is cognitive dissonance writ large.
The problem, Barry, is that he has switched to being right and making money - after spending years being utterly wrong and supporting the Republican narrative of a collapsing Amurrica. There's no worse treason to the Mad Max crowd than being right and making money from optimism.

That's why they can make a big deal over his change in opinion while omitting that it's been right. The point of ZH is not to make money: it's to contribute to the Republican echo chamber, and that's it.

After all, who is ZeroHedge going to hold as their messiah now? That clown Schiff, who just flushed a pile of money down the drain at Corvus?


The disingenuous outright lying of Tom McLellan


Check out this chart:


Do you see the problems with it?

There are three. After the break, I'll 'splain what they are:


Friday videos - Cabaret Voltaire's "Nag Nag Nag"


With one song they single-handedly invented career paths for the Jesus & Mary Chain, Flying Saucer Attack and Spacemen 3.

Why aren't the kids of today doing music like this?





Thursday, November 28, 2013

BCSC decides to assrape a cost analyst for selling 5000 shares of BAJ during the blackout


Stockwatch - BCSC decides to assrape someone for dumping 5000 shares. Quote:
Mr. Launder, a mining cost analyst, was the manager of project controls for Minera Y Metalurgica Del Boleo SA de CV (MMB), a subsidiary of Baja. BCSC staff maintains that Launder was integrally involved in the preparation of a cost review for Baja's sole asset, a joint venture interest in the Boleo copper mine project. The cost review ultimately identified a projected cost overrun of approximately $246-million for the Boleo project.

The notice states that in light of the pending release of the cost review, Baja implemented trading blackout periods with respect to Baja shares, including a blackout from April 10 to April 25, 2012. During the blackout, insiders and employees of MMB, among others, were prohibited from trading in Baja shares.

The notice alleges that Mr. Launder was aware of the trading blackout, and that as a member of the team that developed the cost review, he knew about the cost overruns long before it was disclosed to the public.

BCSC staff contends that Mr. Launder engaged in insider trading when he sold 5,000 Baja shares on April 20, 2012, the last trading day before the news release pertaining to the cost review was issued. Mr. Launder sold his shares while in a special relationship with Baja, and with knowledge of the cost review before such information was generally disclosed.
So because he is alleged to have dodged $2500 in losses he gets in shit with the BCSC?

I know, it's the law, but it seems they love applying the law to the tiny dicks while giving all the big dicks a pass.

A bit of morning news


Apparently the US is closed today, so there's not much reason to watch the tape.

Here's some news:

Reformed Borker (Bork Bork Bork!) - the highest conviction game. This makes me feel good:
Imagine you could only have four positions in a portfolio between now and year-end, of equal size (25% each). Obviously this is nuts, call it a gun-to-your-head thing. No one would advocate doing this in real life but it’s a helpful exercise in determining your true highest-conviction investments at any given time.

Just for fun and completely hypothetically, mine would be:
  • 25% Long Japanese stocks / short Japanese yen
  • 25% US Financial Sector Stocks
  • 25% Investment Grade US Corporate Bonds
  • 25% European Stocks
These are asset classes / sectors where I see value and where I can picture the fund flows going to drive their prices higher into the end of the year. Just my guess, of course.
That makes me feel good, cos I've got US banks (ZUB), and Europe and Japan (CIE). Felt like a dumbass for not owning the Nasdaq, but he seems to feel it's okay. Now if only China Tech (QQQC) would break out.


Reuters - rural India shows signs of economic revival. Of course! They had a bountiful harvest, and the Congress Party government leaves them alone because they're an entitled elite who want to keep the poor downwind and far away.


WSJ China Realtime - stabilizing producer prices in China.


der Spargel - Nazi pig newspaper editor complains about the grand coalition. Read it for good background on the Merkel/SPD coalition that's forming, but realize that the guy who wrote this editorial is a right-wing German asshat who wants more austerity, more dead poor people, and more wealth confiscation by the plutocratic Eurozone elites that he's trying so hard to be the lickspittle of.

Proof? He hates the agreements in principle on a nationwide minimum wage and retirement age modifications that make the foundation of this coalition because they're "stealing money from future generations". Huh? Helping people not be poor is "stealing money from future generations"?!? Justice and fairness are "stealing money from future generations"?

Roland Nelles is a hateful Nazi shit-stain and a willing fucktoy for the corporate kleptocratic class. Also, Roland, see below regarding the Pope's opinion about your evil corporatist attitude.


The Guardian - Pope Francis urges the rich to share their wealth. Holy fuck, this guy just won't stop with the Jesus Christ business, eh? Quote:
[...] Francis went further than previous comments criticising the global economic system, attacking the "idolatry of money" and beseeching politicians to guarantee all citizens "dignified work, education and healthcare".

He also called on rich people to share their wealth. "Just as the commandment 'Thou shalt not kill' sets a clear limit in order to safeguard the value of human life, today we also have to say 'thou shalt not' to an economy of exclusion and inequality. Such an economy kills," Francis wrote in the document issued on Tuesday.

"How can it be that it is not a news item when an elderly homeless person dies of exposure, but it is news when the stock market loses two points?"
Oh no! This guy's a bloody communist!

Wednesday, November 27, 2013

And in case you think nobody pays attention as we complain about the fraud and corruption in the TSX....


In case you thought nobody really knows about Liberty Silver, that the government monolith continues on with maximum inertia, and the exchanges are unaware of the petty penny-ante diddles going on in back rooms that give them a bad name....

click to enhugeitate

The TSX read the article. Hey TSX, wanna post anonymously in the comments section to tell us whose name was used to sign off on a big-board listing for LSL? We want an actual name.



click to probiggify

Ned Goodman, owner of the Nex, read the article too. Hey Ned, are you going to limit corruption in your 3rd-tier exchange? Wanna tell us all how? Will you do it by blah blah capitalism blah blah deregulation, perhaps?



click to relargetize

And these are the scary guys: GTIS. Don't fuck with them. This is Canada's 007s, license to kill and all.

So, I guess we can conclude that nobody actually gives a shit about LSL, they've read it all and given nothing but a yawn, and we can carry on just putting money into the SPY ETF cos there's no fucking reason to put your money into any stock that's part of the corrupt and fraudulent Canadian exchanges.


And some non-gold news


And here's your non-gold news.


Calculated Risk - US economy out of rehab. I'll quote the same part that Bill McBride quotes, but underline and bold the important bits so that you pay attention:
As we have been arguing for more than a year, we think 2014 is the year when the economy finally exits rehab and starts growing at a healthy 3% (4Q/4Q). In our view, the economy would have already exited rehab this year if the politicians had not hit the economy with a double dose of austerity and confidence shocks. Two keys to better growth—the housing market and the banking sector—had already shown serious signs of improvement in 2012, with solid gains in home prices and construction and a modest improvement in bank lending. ... Absent the shocks out of Washington, we believe growth this year would have been 3 to 3.5%.
...
Not only are structural headwinds fading, we expect Washington to be less shocking. While the sequester shock is not over—there is about a 0.2pp hit to GDP in 2014—the vast majority of the 2%-plus in fiscal austerity has already been absorbed into the economy. At the same time, with the election looming, we expect moderate politicians in each party to assert themselves and avoid another shutdown.
...
While some of the cyclical bounce has already happened, it is important to recognize that the US is still in the early stage of the business cycle. Business cycles don’t die of old age, they die from overexpansion and inflation. ... In our view, the auto recovery is fairly well-advanced, but there is a long way to go in other consumer durables, housing, and business investment. Even more important ... inflation seems a distant concern.
That's all very important. Bill McBride is great at reminding you at what is so easy to forget, so read the above again and again til it sinks in. The US economy this year has been slower than it should have been because of the sequester and the Republican terrorist attack on congress. If those headwinds now go away, the US starts expanding at 3-3.5% all of a sudden, and thus you get stock prices suddenly not being expensive relative to future earnings.

So if you see some goldbug clown asserting there's another US crash around the corner, immediately unsubscribe from his idiot newsletter and block his blog address in your hosts.txt file so that you never get misled by the idiot again.


Bespoke - jobless claims fall for sixth week in seven.


FT Alphaville - evangelii one percentium. God, this new pope is a hardcore communist! With a link to the english translation of Evangelii Gaudium, in case you're a Catholic and actually care what the pope has to say about anything. Just remember that this pope wants you to take decisive Christian action, and not just go to church and put money in the tin plate.

Watch out! God is everywhere.


Evening newsreading - many gold stories for you to read


Bunch of gold stories for you here:


Mineweb - call to roll back gold duty to 5% gathers steam in India. There you go, now we're starting to see pushback, and it's coming from Modi's allies in the jewelry industry. Remember what's coming May 2014?

Gold Report - Eric Coffin interview. Good read from one of the few sensible mining analysts.

PS Dave - Peter Schiff invests in Corvus. Can we now stop calling Schiff intelligent? Cos he's just handed his money over to a Cardero Group company. What a fucking sucker.

Mineweb - Michael Shaoul: gold has more sellers than buyers. And yes Michael, I've seen how you've now clued in and put your blog behind a login. It's your own loss if you don't want the masses reading your superior analysis. Anyway, here's a quote:
There will come a point in time at which we could look at gold and we could say ok, maybe there's some story here worth investing in, but this simply hanging onto your gold because you believe we made these significant inflationary pressures later on this cycle, doesn’t make sense. The losses you will take on the intermediate term will make it a very painful place to be.
Newsletter writers, please read the above; then read the genius post I put up this morning comparing the gold miners 2009-2013 to the NASDAQ bubble chart. Wanna wait ten years for your profit to come back? Because your readers won't. Better find a real fucking job, guys.

Mining.com - Market assumption about Detour was wrong, says Haywood. If I were a cynical person, I would think this means Haywood wants their clients to stop dumping Detour Gold until the house has gotten rid of their own position. But I'm not cynical, am I?

PS Dave - some things never change: the Vancouver Fraud Exchange in 1989. With a link to a pdf scan of a Forbes article from 1989 on the Vancouver exchange, titled "scam capital of the world". Here, let me give you yet a further quote that is still relevant today:
"no one churns out a body of fiction of as consistently high a quality as the companies listed on the VSE."
 Also check out the mention of Robert Friedland on page 4.

Vanity Fair - excerpt from an upcoming book about gold. God, this author had bad timing, eh?


Daniela Cambone interviews Barry Ritholtz and Ron Paul


Here's Daniela Cambone interviewing Barry Ritholtz, who is not a clueless fucking clown:




By contrast, after the break you can watch the Ron Paul interview:


SMBC messes with our heads


I still prefer SMBC's poop humour, but even still:


The chart shows a bubble. Why does everyone deny it? (It's not what you think)


There's been a lot of talk in the goldbuggersphere about a bubble. In their case, of course, they mean a bubble in the US broad stock market.

Here. Let me show you a classic bubble-pop chart, okay?


That's the QQQ ETF from start of 1999 (inception) thru 2003.

OK, you can argue that the tech bubble began before 1999. But if you use EDIG (which was an utterly worthless stock with no assets, that only went up because its name was "eDigital") as an indicator of the stupidity, that one only took off in April 2009. So you can say that valuations got silly by 1999.

So anyway, that's a bubble chart. Agreed? Of course.

Now compare the Q chart above to this one below:


Wow! That looks like quite a similar chart, eh? It started going parabolic in 2010, hit a pretty well-defined peak, dropped a bit and tried to recover in 2011 (the way QQQ did in summer 2000), then continued an abject collapse.

That's one hell of a bubble, no? It went up over 4x, then collapsed right back down by something nuts like 85 percent! Ouch!

Boy, you'd have to have been a real dumb fucking clown to have invested in that chart, eh? I mean, sure, it makes sense to buy it on the way up like any good follow-the-herd momo - but why the hell would you want to own this after summer 2011?

That's a bubble chart, ain't it?

Only dumb people invest in bubbles, right? Momos buy it on the way up, following the sheep; and muppets hold it all the way down, denying that their portfolio is full of worthless shit as it trends to zero.

Therefore you shouldn't buy the S&P 500 right now, right? Ain't that what the goldbugs are saying?

That chart, above, is a chart of a portfolio of 25 junior mining stocks, bought four years ago in 2009 and held til today. Here, let me show you the contents of this portfolio:


(You can see I've tried to pick stocks across the spectrum, not just crap. So there's a few stocks in here from each of your favourite stock analysts. I tried to pick the most popular stocks, though: the point of this chart is to chart the stocks that the junior gold market truly thought had value.)

Now what sort of unmitigated fucking pig-ignorant arrogance could possibly exist that would drive a newsletter writer, blogger or "stock analyst" to call the S&P 500's chart today a "bubble"?

These hard-money, Mises-worshipping, Bernanke-hating, Zerohedge-quoting, fiat-Weimar-Zimbabwe goldbugs were hyping a junior mining bubble in 2009 and 2010; they were good momos all through 2010, joining all the other "unthinking sheep" in riding an upward wave on gold stocks that, in the most part, had utterly zero value; they were still buying in early 2011; and they've mostly been suckers enough to continue pumping this exploded bubble all the way down to the bottom.

Before you listen to a half-assed critique of the US broad market by some clown with a blog and a newsletter, ask yourself: what stocks was he promoting in 2010 and 2011? Tesla? 3-D? Google? Ford Motor Co., for fuck's sake?

Or was he fucking you in the ass with Kaminak Gold?

If the fucktard didn't recognize that the junior miner scene was a bubble back in 2010, or after it popped in 2011, then he sure as hell has no clue about the broad US market today. Tell him to shut the fuck up with his ignorant opinion.

In fact, forward him a link to this post. I want the ad money.



Tuesday, November 26, 2013

Non-Friday video - new single from Lena Katina


It's not a Friday video, but I figured what the hell it might be worth a few hits and besides she used to be in TATU.

So here's Lena Katina with a video for her new single, "Lift Me Up":



The lyrics suggest to me that she's transitioning to Christian Rock.

Seriously.

Which, I guess, is to be expected when your country's dictator starts throwing people in jail for promotion of homosexuality, which her old band used to do (but in a hot sexy lesbian teenage schoolgirl way, which makes me wonder what crawled up Putin's ass and died there).


Whatever happened to Liberty Silver, the scam stock that the OSC and TSX let the market get fleeced by?


So whatever happened to Liberty Silver?

Peter Koven wrote an update on them last month at the FP, if you need to refresh your memory. Quote from his article:
Last October, regulators in both Canada and the United States halted Liberty shares for two weeks after they soared to astronomical highs in a very short time. The move happened right after Liberty was heavily promoted by Mr. Genovese and a group of newsletter writers. It was later revealed that companies tied to Mr. Genovese sold more than eight million Liberty shares between the start of the promotional campaign and the trading halt, netting a large profit.
And of course you'll remember that this company suffered absolutely zero repercussions at the hands of the Ontario Securities Commission or the Toronto Stock Exchange. Except, of course, for a two-week halt and maybe a polite request to issue a news release with a bit of clarifying, restating, disowning and denying.

So how's the chart doing?


On the one hand, you could find a hundred other, less shifty junior miners with charts just like that.

On the other hand, the OSC and TMX Group haven't done anything about those other hundred companies' lies, deceit, misrepresentation, back-room deals, front-running, insider dealing or embezzlement either - that is, beyond the customary slap on the wrist and "could you perhaps issue a clarification press release?"

Thanks for destroying the Canadian capital markets, OSC and TMX!

Now here's the other Liberty Silver, who's probably pissed that her name's been associated with this Greek tragedy:





Let's check the articles at mining.com


An economic sector is only as good as its commentary, so let's look at a couple of mining.com's recent articles.



mining.com - bitcoin will replace gold because bitcoin is better. Quote:
Gold is going to decline 90% to 95% because bitcoin just has more advantages argues blogger
and I stopped reading at "argues blogger". Though I saw the next two words were a Russian name, which didn't make me enthusiastic to continue either. As for bitcoin, when the inevitable hyperinflationary Mad Max apocalypse comes, I'm going to want to own yellow metal and not a fucking flash drive.



mining.com - Jay Taylor interview. After surprisingly interviewing Kaiser, Cookie and Eric Coffin, Jay resurrects my baseline opinion of him with quotes like these:
Jay Taylor: We're in a deflationary environment that policy makers are trying to overcome with inflation. That won't work as long as people remain confident in the currency—but if there's a loss of confidence in the currency, deflationary forces will give way to inflation. It might even lead to a hyperinflationary situation down the road. That's the worst outcome, but I fear it could happen.
So he's still on the hyperinflation bandwagon, which means he's never bothered to understand what Ben Bernanke's been doing for the past five years. Except now he's grafted in Gary Tanashian's inflation/deflation narrative onto it, which probably means Taylor's at least got enough money for a newsletter subscription.

Later, he says
Deflationary implosion doesn't bother me because I'm more favorably disposed toward gold in credit deflation such as what we had in the 1930s. It was very bullish for the gold mining sector. Catalysts for triggering an explosion in the gold price could be a loss of confidence in the mainstream assets: the dollar, Wall Street, a collapse of the London Bullion Market Association (LBMA) or the COMEX.
I underlined the crazy ZeroHedge goldbug buzzwords for you there. Because with language like this, it's unnecessary to parse these phrases into actual sentences and paragraphs.



Some noon reading: all gold news, all the time


All gold news, all the time!


Reuters - Indian jewelry exports down. Gold jewelry exports are down over 50% over the last 6 months, which I guess is exactly what the Indian government wants to do in order to reduce their current account deficit. Because it's exactly the wrong way to go about it and the Congress Party loves doing everything the wrong way.


Mineweb - Chidambaram wants to kill gold imports. Quote:
Chidambaram reiterated the ministry's stand to restrain gold imports for jewellery manufacturing for the domestic market and said the government was fully aware of the effects for the jewellery industry.

He added that the policy in constraining or restraining gold coming into India was for conversion into jewellery. “That is a deliberate policy we have taken. There is a huge amount of gold within the country. We have no problem if you buy that gold and use it for jewellery. The under-utilisation of gold jewellery capacity is an intended consequence,'” said the minister.
Ouch. He's just come out and demanded that the jewelry industry recycle Indian gold. Which would mean India not buying any more outside gold. When will the goldbugs realize their enemy is Chidambaram, and not Bernanke?

Also,
Incidentally, the All India Gems and Jewellery Trade Federation has asked the government to reduce import duty to 5% and bring back the earlier letter of credit to 'rescue' the industry.

The association has written to the Finance Minister and has strongly advocated immediate reforms and other credit buying of gold. In a letter to the Finance Minister, Federation Chairman Haresh Soni said, "When the gold import is restricted under the 80:20 scheme, there is no way the import of gold is going to mount, until and unless there is a growth in overall exports."
So what do you expect Narendra Modi's first actions are going to be if he gains power next May? I mean, the Gujarati jewelry industry is one of his core constituencies.


IKN - why would you buy a silver miner? Why own any of these companies when the only way they can become profitable is by high-grading, thus killing their own reserves? Thus the carnage will continue til the metals convince the market that they've stopped going down for good.


Mineweb - let's see what Rick Rule has to say about all this. Quote:
Rule theorizes that the gold market is now suffering from both seller and buyer exhaustion, which might be a good thing for some investors. Mutual fund sector holdings in gold are gone, for instance.

However, since practically no one is left to sell, Rule suggests, “The best issues in the sector might begin to melt up” instead of melt down.
Then again, maybe he's only saying this cos he wants to sell you his shares.

How to do intermarket analysis: GDX and GDXJ


Here's two charts for you:


In the past few days GDX:GLD has borkened down below the support line.



In the past few days, GDXJ has also borkened down through the support line.

But in the past few days, GLD has only done this:


It hasn't broken its end-June support, and over the past few days amazingly the price of gold has held constant.

So I guess what I can take from this is that while gold's not collapsing, the people who own GDX and GDXJ are selling everything they can, indiscriminately, so that they can be completely out of the miners before the end of the year.


Monday, November 25, 2013

on bubbles


Just one article for tonight:

Investing caffeine - confusing fear bubbles with stock bubbles. Because what we have right now is a fear bubble.






Monday news


Some reading and stuff.

BI - Citi's supposed stock market euphoria indicator. Citi's "proprietary panic/euphoria indicator" supposedly is worth something because it "relies heavily on market based measures that are believed to reflect market sentiment. Components of the model include NYSE short interest ratio, margin debt, retail money funds, the put/call ratio, gasoline prices and the ratio of price premiums in puts versus calls". Gasoline prices? Are you shitting me? If you haven't looked under the hood to see exactly how this model is constructed, and don't know exactly why the underlying components (especially the options market) are doing what they've been doing these past few years, then I suspect the best thing to do is ignore it; otherwise you're not even sure that the chart is charting the same thing over time.

Calculated Risk - housing starts and permits. Take a look at this chart:


Does that look like euphoria to you? If the market is supposed to turn down from here, then that suggests either a fundamentally-unjustified panic sell that reverses itself a la 1987, or it suggests the US economy is about to collapse. But collapsing from this point in the housing cycle could only mean a Mad Max dystopian future of piles of human skulls. Frankly, if you believe that, then you'd better fucking well explain the mechanism of disaster and not just hide behind an infantile proprietary indicator.

Bloomberg - China developers fall after property tax report. China has to start taxing real estate so that they can bail out local governments, who really have no way of earning revenue other than the obviously unsustainable selling of land. So I'm not too worried.

FT Alphaville - information asymmetry in the era of bitcoin. Interesting read on how silly the process of actually using bitcoins is.

Junior Gold Miner Seeker - Franco Nevada's asset handbook. Always a riveting read.

Economic Geologist - the scoping phase in the feasibility process. This guy is way educational!


Sunday, November 24, 2013

Some Sunday reading


Here's a few news articles for you. Not particularly important, so if you have better things to do than read, go ahead.


Zerohedge - hedge funds have underperformed SPY by 75% this year. Really truly, this is what happens when an idiot invests money. Now how much will the US markets' future advance be driven by people who simply get their money out of idiotic short-yen-long-Nikkei trades, and into a US index ETF? There seems to be a hell of a lot of money performing unacceptably badly in this market, and thus I'd suggest the S&P's advance has barely even begun.

Reuters - German finmin says no more risk of contagion. Which hopefully means Germany is through destroying the economy of the rest of Europe for their own sinister purposes. And by the way, Greece needs no further bailout.

Mining.com - gold opinions from New Orleans. Frank Holmes is talking about gold as a 5%-10% asset allocation here. This is interesting to me: why would a goldbug not tell readers to put 100% of their asset mix into miners? I mean, yes it's stupid to do, but outside of Peter Grandich I've never heard one newsletter type suggest that gold and gold stocks should only be 5%-10% of your portfolio. Have they all decided to be sensible now that they've wiped out their followers' accounts?

Sean Brodrick - the history of gold. About stellar synthesis and so on. Unfortunately he doesn't mention Goldschmidt classification, which is an important reason why you don't find gold and platinum in the earth's crust at cosmic abundances.

Reuters - behind the Pentagon's doctored ledgers. A story about how many hundreds of billions of dollars the Pentagon simply loses track of, every year.Why the fuck do Americans let the Pentagon steal thousands of dollars out of each taxpayer's pocket every single year? And where does the supposedly "fiscally responsible" Republican party stand on this? That money you cut from food stamps - do you think you could cut the same amount from Pentagon waste?

Rolling Stone - how Republicans rig the game. I still think what the Democratic party needs is a good old-fashioned Irish brawler to lead the party. Obama has been a spineless pussy. They need someone ruthless who's willing to smash some faces. The way you get your opponent to behave is by showing you're ten times nastier and a bit unhinged.

Vice - will Europe kill the American death penalty? Good. No state should have the right to end the life of any citizen. Where are the libertarians on this?