Hello all suffering SFMI holders … and those who sold long ago but glimpse upon these posts every once in a while.

Good post Bigpic: but I must disagree your (and millions of others) expectations of a rate hike this year. It is all bluster from my perspective. The STRONG dollar has given a blistering notice of the export and currency damage it has and will continue to wrought as per the faltering reports from CAT, Microsoft and many others today. Imagine what an interest rate hike will do for the dollar and exports. Also, even a small hike will be devastating to the US debt interest payments alone and will exceed tax receipts. However, we will have to wait and see. I suspect that by the Fall much will have changed … especially gold and silver. As for the currencies racing to the bottom, the speed ratchets up as the $US floats on their exhaust.

Any gold bugs left with a few coins in their tattered jeans have finally run the gauntlet as we now go forth to make real money over the next few years. We have already seen nice returns on many small and large producers. I even got some ABX today ( I have always hated that Co. but I see it doubling from here this year). Yes, I am now a hypocrite.

As for the SAGA of SFMI, it has come full circle and must be reborn. I still think the goods are in War Eagle but the opportunity to reap their rewards will now be left to a whole new group of adventurers I suspect. It will be interesting to see who will get the chance to actually drill and mine the resources. Long ago I (and many others here) thought that us bag holders would get ‘dusted’ and those with the dough, at the right time, would get the ‘resource’ for mere pennies on the dollar. PQ et al have done what many others have done in the junior explorer business, skim as much as possible off the project and hope it lasts out until the PMs rise. If not, pocket the dough and hope to avoid the long arm of the law if there are any ‘inconsistencies’. (see PNP, SGR and a host of others).

Whatever happens, methinks the most to unfold will be a massive role back and the worst will be a whole new broom with old shareholders left behind. Then it starts again, but this time there will be real traction as the lure of the buried treasure releases it from the grip of time. All a guess on my part but I will be watching and wondering to see if a credible group with the savvy and experience takes on what I think could still be a large mining project with heft.

Sincere good wishes and good health to all I met and corresponded with here over many years.

Here’s your laugh for today from London and our infamous former bank governor and Goldman Sachs alumni:

“Mark Carney warns of liquidity storm as global currency system turns upside down

The Governor of the Bank of England has warned markets to brace for possible trouble in 2015 as the US Federal Reserve tightens monetary policy and liquidity evaporates, fearing that the new financial order has yet to face its first real test…

Mr. Carney said regulators have cleaned up the banks and tried to prepare for the tectonic shift taking place in the international currency structure but major risks remain… Mr. Carney said the global authorities have clamped down on excess leverage … “

They will never stop until it stops them.