E Wall Street Afraid Of A Biden Victory?

Yesterday I finally found out why we cannot email our subscribers' issues. It turns out that having taken my money for the migration on August 5, the Godaddy service failed to collect the material from our website, www.global-investing.com, to its own system. So this technologically challenged little old lady had to go into our former site to send out the file manager (FTP) and a records directory so they could do the job more than two weeks later.

The whole process was made more fraught by a constant requirement to set passwords for stuff I had to find. It got later and later and my husband and I were missing our dinner. As a result, your Monday blog did not get out until this morning. I can only do so much. Our frozen pad Thai dinner was pretty awful.

Today the S&P index tried for a new high before collapsing again. The dollar fell about a half percent against almost all other currencies. So the explanation is probably that Wall Street is afraid of a Biden victory which will increase taxes at the top, or of a Trump attack against the poll he will lose by claims of postal fraud. The bipartisan Senate Intelligence Committee report came out and showed that Putin's Russia was actively seeking to get Trump elected in 2016, but not necessarily coordinating with him.

Mining and Oil

*Today Kirkland Lake Gold created an alliance with Newmont Mining whereby KL collected $75 mn (US) for letting NEM join in mining at KL's Holt mine in Timmins (Ont.) if drilling is restarted there along with NEM's royalty obligation for Royal Gold. NEM and KL will also operate together using NEM money in the Timmins area as well as other sites yet to be determined. This came after a day during which gold rose in the wake of Warren Buffett buying into Barrack.

*The Mauritius oil spill from a Japanese tanker (which now is split in two) has developed techniques for cleaning the sea with hair booms and sugar cane. I think the Biden campaign will pick up on this disaster and use it against Trump.

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William K. 8 months ago Member's comment