Gold & Precious Metals

“It is amazing that billions of dollars in speculative money is invested every year by a retail market that really does not know the basics of simple geology…”

PRESIDENT of niche consultancy Exploration Alliance, Chris Wilson believes education is an investment basic. In this interview with The Gold Report, Chris Wilson shares his guidelines for winnowing out the crowded junior Gold Mining sector to find the companies worth serious investigation and urges investors to know their porphyries from their narrow veins. 

The Gold Report: Chris, you have described the junior mining industry as being “in disarray.” Do you have any ideas for investors who might want to participate in the space, but may be a bit confused or discouraged?

Chris Wilson: Well, upfront I would say do not lose heart, but do not go throwing your money at just any junior at the moment. 

We have to find 80 million ounces (Moz) of gold a year just to replace what is being mined. That is equivalent to the whole of the production from the Carlin Trend. Clearly, any company with a significant discovery will be extremely valuable. That value will grow exponentially moving forward because new discoveries are getting harder to find. The value most likely will be unlocked by the major companies buying the juniors out. 

It is a big leap for a junior trying to be a miner. When the major companies are mining successfully, but not exploring successfully, acquisitions have to become part of the future. The trick will be finding juniors that have a commodity and a deposit style that are attractive to the majors. 

There are probably 3,000 junior explorers on the Toronto, Australian and London stock exchanges. So, you have to do your homework. First, you discount the 20% that have managements with a reputation for pumping and dumping or that lack technical prowess. Next, you eliminate companies working in countries you do not like for reasons of geopolitical risk. 

With a little bit of research you can see where mines are being built successfully and where potentially good mines are not being built. 

Once you discard management and geopolitical risk, you have 1,500 or 1,000 names left. Next, you have to look at deposit style. Irrespective of grade, major companies do not buy small vein deposits with often complex and discontinuous ore shoots. Such deposits will always remain the remit of junior explorers who may struggle to stack together resources or commercialize production. 

Neither do major companies want small copper mines with difficult metallurgy. It may take $4 billion to put a big copper porphyry into production. As an investor, you have to target companies with the potential of finding a deposit in the commodity of choice, probably copper, silver or gold, that has the chance to get the attention of the majors. 

Of course, you want to look at the number of shares a company has out there and how much cash it has in the bank. If a company is going to have to raise money in the near term, that will be dilutive and something you want to steer away from. 

You can go on to the System of Electronic Disclosure by Insiders (SEDI) to see if management has been selling their shares and have a look at the stock curve. If it is a typical up and down parabolic curve, it probably does that for a reason. Juniors with good assets tend not to have that parabolic curve up and down. They may have come off 20% or even 50%, but they are holding steady. What percentage of the shares is held with management? Put that into the equation.

By now, the list of 3,000 companies is probably down to about 100, and that is a manageable number of companies to do your due diligence on. 

The last thing I would say is go and talk to a geologist. Not necessarily the company geologist, who will sell you any story the company wants. If you are going to invest in this commodity and you do not understand geology, you need to find a geologist that can help you. 

TGR: Why are you convinced that gold will increase in value? 

Chris Wilson: Gold is a finite resource. You’ve got to find 80 Moz a year to be ahead of current annual production. So, from a supply and demand perspective, each year we’re spending more in exploration yet finding less. All things considered, that means that good discoveries will be increasingly valuable.

In addition, politics today works in gold’s favor. Recent elections prove that people do not want to vote for austerity. People vote for an easier life. In some respects, this forces governments, if they want to be reelected, to print money to keep things humming along pretty much as they have been. That is going to lead to inflation and to paper money being devalued. 

TGR: You have years of experience traveling the world, exploring for gold deposits. Some people believe all of the big deposits have been found. Do you agree? 

Chris Wilson: Not all, but a large number of the big gold deposits have been found. Professors Roger Taylor and Peter Pollard, consulting geologists and good friends, are fond of saying that big deposits generally stick out of the ground. That is because big deposits require very large fluid circulation cells capable of carrying the metal endowment, and these hot fluids generally alter the rocks around the deposit, resulting in large and obvious alteration systems. Moreover, large deposits are generally associated with major structures and may present large geophysical targets.

TGR: Based on your years with your boots on the ground, where do you think the remaining big discoveries might happen?

Chris Wilson: You need both a discovery and a good environment to develop a project. There are countries where you clearly should not invest even if they have good geological potential. China, for instance, has excellent potential, but I have yet to see a mining company succeed. Many people are fans of the former Soviet Union republics. They are very difficult places to get ahead. There are a lot of insider deals and corruption. 

Then you go to the other end of the spectrum to great mining jurisdictions where investments are safe: Canada, Australia, Peru and Chile to name a few. But, those countries have been through several cycles of exploration over the last 100 years, which means it is getting harder to find deposits there. 

So, where do you go for new discoveries and what would those new discoveries be like? This is a personal choice, but I favor less explored countries with excellent geological potential that have a manageable degree of political risk. Colombia is an obvious choice, parts of northeastern South America fit the bill, as do countries in West Africa that are emerging from conflict.

West Africa has some of the greatest mines on earth. For example, Obuasi has produced 30 Moz and probably has about 35 Moz left. To date there has been over 200 Moz of gold discovered in approximately 30 mines and the potential remains excellent.

West Africa was joined to northeastern South America for much of its history and shares the same geology. In comparison to West Africa, northeastern South America is significantly under-explored, so all things considered, countries such as Brazil, Suriname and Guyana have excellent potential. Venezuela also has excellent potential but the politics are problematic.

There also is potential in past-producing mines. There have been some very good discoveries recently, such as the  past-producing Omai mine of 4.5 Moz in Guyana. A few weeks ago, a company announced a resource of 1.22 Moz. 

TGR: So, you are talking about a contiguous greenstone belt that existed millions of years ago that now extends from West Africa across the Pacific and into South America.

Chris Wilson: Correct, although it was actually formed 2.1 billion years ago. My point is that greenstone-hosted gold mineralization is well understood and has been the focus of successful exploration in West Africa, Canada and Australia. 

Greenstone belts of the Amazon have not been explored to the same extent. 

As long as you are prepared for the geopolitical risk of certain countries, you will probably get a lot of bang for your buck. There will be more world-class discoveries there than in some of the countries that have had more exploration.

TGR: What are you doing to reach out directly to investors with your expansive knowledge base?

Chris Wilson: A lot of people who invest in the junior exploration space, the midtier and to a degree in major producers have a fundamentally poor understanding of geology and key concepts. Too often, when I talk to investors, they have no idea of what a strike extension is or what makes for a great intercept. They do not know what the difference is in exploration potential between a porphyry and a narrow vein system.

It is amazing that billions of dollars in speculative money is invested every year by a retail market that really does not know the basics of simple geology. That is a huge issue that needs addressing. 

TGR: Chris, thank you for your time.

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Markets: Troubles & Solutions

As to Europe’s financial troubles, don’t get caught up in the talk that Europe’s leaders are fixing the massive problem. They are not.

Talk of Eurobonds is conditional upon member countries balancing their budgets, which is not likely to happen. It’s also conditional upon member countries effectively giving up their sovereignty, which is also not likely to happen.

While Europe might be able to buy some time, the European sovereign-debt crisis will not die off until the entire euro region comes crumbling down and the euro breaks up — either via Greece, Spain and/or Italy withdrawing, or perhaps Germany taking the lead and calling it quits on the euro down the road.

Either way, I see more trouble ahead for Europe — a lot more.

And that brings me directly to the markets: They are not in good shape.

Gold is threatening to break critical support at the $1,544 to $1,546 level. It remains under pressure due to fear and panic by investors who want almost nothing but cold, hard cash these days and who don’t want to take much market risk at all.

If gold breaks that $1,544 level, look for gold to plunge much lower.

Ditto for silver, which is on the verge of cratering through the $26 level. If that happens, take it as a leading indicator that both the European Union and the United Sates are plunging deeper into a depression.

I say “depression” and not recession because that’s what it is. Most of Europe is definitely in a depression, with unemployment rates that exceed those seen during the 1930s Great Depression.

Here in the United States, we just don’t know it yet. But all the available evidence that I study tells me that the U.S. economy, when measured in terms of honest money, gold, is already in a depression.

Bottom line: Most asset markets will remain under pressure from …

First, fear and panic that Western economies are melting down, leading to “risk-off” trades and a flight of capital into cold, hard cash.

Second, fear and panic that Western leadership is also heading down the wrong path, mandating and taxing things that really belong in the private sector, and in which the government should not be involved.

Third, fear and panic that there’s almost nowhere to hide your wealth these days, unless you can find another planet to put your money.

And more. I don’t like it one bit at all. But that’s the reality we face now, and will be facing for years to come.

When will it all end? When will there be a better day?

Not for a while. And not until the U.S. wakes up and smells the coffee and realizes it will not be immune to a sovereign-debt crisis and that our leaders are also embarking down the wrong path, trying to socially engineer a solution through tax-and-spend measures, through class warfare, and more.

There is a light at the end of the tunnel; however, it’s a few years off. In the meantime, I maintain my views …

1. Keep most of your liquid funds in cash, ready to be deployed on a moment’s notice, but as safe as can be right now. The best way: A short-term Treasury-only fund in the U.S., or equivalent.

2. Hold on to all long-term gold holdings. You do not want to let go of those. Short term, gold is heading lower. Long term, it’s heading to well over $5,000 an ounce.

3. Consider prudent speculative positions to grow your wealth. Like those I have recommended in myReal Wealth Report, which are doing great right now as silver falls, as the euro struggles, and more.

Most importantly, question everything Washington tells you. Only by doing that will you ever come away with an objective view of what’s really going on in our country. Ditto for Europe and its leaders.

Stay tuned and best wishes,

Larry

stock-market

P.S. My Real Wealth Report subscribers are gearing up for our next online Market Update and Strategy Briefing, which takes place tomorrow, Tuesday, July 3. In this special online presentation, we’ll be looking closely at the markets, what’s coming next and the strategies that make sense right here and now. But you have to be a member to be able to view this exclusive briefing — so //www.gliq.com/cgi-bin/click?weiss_uwd+0109201-1+UWD1092+vgbb@shaw.ca+%20%20%20%20%20%20%20%20++3+4422655++E-Acquisition%20Lead“>click here to start your risk-free Real Wealth Report trial today!

Dr. Copper says watch out below

The dislocation between US equities and Brent crude (chart below and discussed there) is by no means unique. A very similar picture is developing between S&P500 and copper. And as with oil, one can blame it on supply fundamentals, but the reality has more to do with a sharp deterioration in global demand as world economies slow.

Miller Tabak : – Traders often refer to the red metal as Dr. Copper because it is the only one that has a PhD in economics, and tends to be a great leading indicator of economic conditions. If you follow that thesis, and go by recent trends, Copper could be telling an ugly story for equities. 
… 
Copper first bottomed in December 2008, while the S&P waited until March 2009. In 2010, Copper made its low for the year in June, vs. July for the S&P. The 2011 peak in Copper was February, vs. May for the S&P. 2012 is almost identical to last year, with Copper again topping out in Feb., while the S&P made its high in March. There are no guarantees that Copper will make a new low for the year, and even if it does that equities will follow, but it certainly bears watching given the historical significance of the relationship.

Copper vs SP500

The dislocation between US equities and Brent crude (discussed here)

US crude stocks

….more articles at Sober Look

Is The Table Set for a Mania In Precious Metals?

It may feel like I’m out of touch with the precious metals markets to broach the subject of a mania today, but I think the table is being set now for a huge move into gold and silver.

There are, however, very valid reasons to reasonably expect a mania in our sector. For one thing, manias have occurred many times before, but the main issue is that a mania in gold and gold stocks is the likely result of the absolute balloon in government debt, deficit spending, and money printing. Saying all that profligacy will go away without inflationary consequences seems naïve or foolish. Inflation may not attract investors to gold and silver as much as force them to it.

Now, one could make the argument that any rush into gold and silver will be muted if no one has any savings, especially given that demographers say a quarter of the developed world will soon be retired. But even if individuals are wiped out, the world’s money supply isn’t getting any smaller, and all that cash has to go somewhere.

I wanted to look at cash levels among various investor groups to get a feel for what’s out there, as well as how money supply compares to our industry. Data from some institutional investors are hard to come by, but below is a sliver of information about available cash levels. I compared the cash and short-term investments of S&P 500 corporations, along with M1, to gold and silver ETFs, coins, and equities. While the picture might be what you’d expect, the contrast is still rather striking.

DRUS06-29-12-1

Naturally, not all this money or read more about Economic News and Ideas on Debt, the Market, Gold, Oil, and Investing HERE

Gold 22

FIVE KEY QUESTIONS IN YOUR FUTURE – WITH ANSWERS

Today’s Note:   

Two weeks ago today we gave several presentations on the state of the economy in Virginia. We hosted more than 100 attendees. On Wednesday I presented in Richmond at the Country Club of Virginia and in Charlottesville at the University of Virginia. On Thursday we presented in Lynchburg, Virginia. We focused for 10 to 15 minutes in each presentation on 5 key questions: 

1. Is this the start of a Great Deflation? 

2. What will the Federal Reserve, Congress and the Administration do? 

3. Are we now at the bottom of the equity market? 

4. Supply and demand for copper and other minerals in the next few years? 

5. Discovery Investing in the “Age of Austerity.” 

 

Let’s review the subject matter, responses and conclusions from these questions: 

Is This the Start of a Great Deflation? 

The short answer is – “maybe.” One analyst said, “if nature takes its course yes, we will have a deflation.” The Great Deflation, like the Great Depression, is more than just a deflationary economic episode. The name itself connotes a once-in-a-lifetime episodic trauma. It connotes a time and place where prices will fall, money supply will shrink and debt load will decline. It is a time where GDP will decline and savings will increase as will the currency value. It will be “Great” because it will be global and it will accelerate — if it gets started. 

Therein lies the problem – deflation is a process that contracts activity while it spirals and intensifies. This process is somewhat like that of hurricane intensification. These storms gain strength over warm waters of the Caribbean at this time of year and then finally play out over land. As asset values decline debt loads become more problematical, bankruptcies increase, GDP falls further, asset declines intensify and the process intensifies – till eventually the deleveraging and destruction of asset values is finally complete. 

The signs are certainly all in the wings this AM. Despite the debt agreement in Europe and the knee –jerk reaction we are witnessing in the capital and commodity markets all is not well in “Leverageville.” 

The M1 money multiplier has been contracting for 43 months since November 2008 when it fell below 1.0. In other words the American fractional banking system is not lending effectively relative to the money supply. Officials for the Bank for International Settlements note: 

“Central banks are being cornered into prolonging monetary stimulus as governments drag their feet and adjustment is delayed,” the Basel, Switzerland-based BIS said in its annual report, published Sunday. “Both conventionally and unconventionally accommodative monetary policies are palliatives and have their limits.” 

In other words Central Bankers are out of magic bullets. Chairman Bernanke said he could defeat deflation by using the printing pressi. That, according to the BIS, has not succeeded. (see B. Bernanke’s speech to National Economists Club, November 21, 2002, Deflation: Making Sure “It” Doesn’t Happen Here

Meanwhile interest rates are essentially zero in the U.S. and elsewhere, banking contagion is spreading around Europe and Spain and Italy appear to be the next victims. Global deleveraging is very slow, too slow, and global growth is now slowing markedly. The recent Case Shiller housing price numbers are down 1.9% YOY, again part of the rubric that smells more like an asset deflation every month in spite of some evidence of bottoming. – not inflation. Inflation is the single remedy and the preferred outcome of the Central bankers of the world. 

German austerity will be imposed eventually but it will be imposed by the rough, crude and accelerating momentum of the world’s markets. Banks have reduced their lending by 4% due to the need for higher reserve ratios. 

Once mom and pop’s savings rates start to increase (to reduce personal debt levels) deflation will be fait accompli unless …. . 

Irving Fisher developed a “Debt Deflation theory of Great Depressions” which was the title of his 1933 article in Econometrica, a top tier Economics journal. 

http://fraser.stlouisfed.org/docs/meltzer/fisdeb33.pdf. This article is from the St Louis Federal Reserve and deserves to be read by everyone. 

In it Fisher defined a “creed” of 49 articles. Fisher’s article 24 (see endnote) perhaps best sums up his rationale for the Great Depression and also, I believe, for where we stand today – on the precipice of another event of similar magnitudeii. By the way, Fisher also offers solutions. Here, he seems to sums up our present situation with respect to debt and deflation, 

“No exhaustive list; can be given of the secondary variables affected by the two primary ones, debt and deflation; but they include especially seven, making in all at least nine variables, as follows: debts, circulating media, their velocity of circulation, price levels, net worths, profits, trade, business confidence, interest rates. … Evidently debt and deflation go far toward explaining a great mass of phenomena in a very simple logical way.” 

What Will the Federal Reserve, Congress and the Administration Do? 

 

Since our Federal Reserve seems to be out of “bullets” and since it is fractured literally down the middle between the Doves and Hawks we see very little benefit in more printing money. Indeed they will try something – perhaps another QE. 

President Jeffrey Lacker at the Richmond Federal Reserve bank does not want to see any more “Twist” solutions. This reinforces the uncertainty at our Fed. The European Central bank (ECB) notes it is running out of “silver” bullets. We believe the Fed may now see the U.S. as entering or actually within a classical liquidity trap. 

The Administration and Congress (both sides of the aisle) must now act to resolves the forthcoming “Fiscal Cliff” which will take effect on January 1, 2013 a short 185 days from today. If taxes increase (the dividend tax rate triples, etc.,) and spending is automatically cut as planned, a recession (CBO forecast) may push the economy into a deflationary spiral. 

Furthermore U.S. economic and industrial restructuring following (forced?) deleveraging is most necessary. This will be a long term process. Japan is still in the grips of deflationary cycles from 1989’s bubble. Deleveraging here has to be soon … and … it will not be without pain. One wonders why the central bankers of the world have not yet seized on Irving Fisher’s debt insights. 

Are We Now at the Bottom of the Equity Market? 

No, not likely. Take a look at the performance of the TSXV shown below. Its performance, in line with those of the broad commodity indexes, has been shouting deflation for the past 15 months. There is now a lack of liquidity in the equity markets. Assets must be liquidated as debt loads are reduced. Markets will be under pressure. Company and management frugality and sustainability is clearly the most important of characteristics in this environment. (see point 5 below) 

The Toronto Venture Exchange (TSXV) has declined 52% since March 7, 2011 well in advance of the current deflationary forces and certainly anticipating and then instigating asset liquidations. The index is now at a new 34 month low point. The Larger cap Toronto Exchange (TSX) has declined 21% and is near a 28 month low. Increased capital gains (200% increase?) and dividend tax are likely in store. These along with further government-sponsored financial repression of Americans (zero % Treasury yields), in addition to taxation, are further headwinds for capital markets and intermediate term economic growth in general. 

Picture 1

The Supply and Demand for Copper / Other Minerals in the Next Few Years 

 

Long term, the view here is bullish. Short term, the perspective is bearish. Copper has declined 29% in the past 16 months. However we do not see copper less than $2.50 / pound under any but the most severe macroeconomic circumstances. There are 4.5 billion people in Goldman Sachs Next 11 countries who will demand infrastructure in the next decade and there will be commodity buyers at lower prices to make a bottom. Further, copper (as are most minerals) is much harder to explore, develop and mine today and Freeport notes that the “new normal” in copper is .4% and in secure (economic) jurisdictions. 

Look at Gold and Oil price declines. Price declines, especially those set in global markets bespeak of the oncoming deflationary forces in spite of the fact that cheaper energy is a big positive for the economy. We question whether oil is reacting solely to deflationary forces or to geopolitics of the Middle East, or both. Gold? Gold has broken through four levels of support and may now be poised to head lower. Both oil and gold bespeak of contraction. Funny, isn’t it, how energy prices decline in an election year? 

Discovery Investing in the Age of Austerity 

 

Discovery will continue to be critical to sustenance and perhaps improvement of our lifestyle. Discovery of resources (old and new) , medical treatments and therapies, high technology, materials sciences and energy systems are just a few fields of discovery interest to us. 

Whether we like it or not austerity will be with us for quite a long time. German Chancellor Angela Merkel is correct and honest. Her only problem is that the word “austerity” is anathema to most politicians. It turns out the one way or another we will experience austerity as deleveraging and the unwinding of the current and broken credit cycle begins. 

We will, dear Discovery Investor, be investing in the age of austerity for the foreseeable future. This is where we think the Discovery Investing Scoreboard (DiS) will shine. (www.discoveryboard.com). Originally developed to “score” or rank micro, small and midcap companies across all dimensions we now realize that several of the ten DiS factors you have at your disposal relate to the coming environment of austerity. In other words, we believe there is an increasing possibility for deflation. To refresh your memory, here are the 10 factors as shown below. Here is a teaching example of scoring Alexco’s “Financial Soundness.” 

Picture 2

You may choose to score each factor, ignore a factor you are not sure of at the time, or select the crowd score for a factor. You do not have to be an expert to score a company but you can become an expert over time. We have made access to the DiS free to all and found that the DiS is a powerful tutorial and one that allows you to maintain portfolios of potential winners and losers. 

I include the Decile 1 (top 10% ranked stocks) below as of June 26, 2012. 

Picture 1

Picture 2

Factor 8 is called “Financial Soundness.” By this we mean balance sheet strength, cash and or sustaining cash flow from operations. More generally, in this environment, this means sustainability. This may be the key for selecting companies in the coming environment. We are inclined to rate this factor (and several others) as “Very important,” “Desired,” and perhaps “Mandatory” for a good score. Have fun and score your own companies whether or not you see deflation or inflation in our future. You will enjoy the DiS. 

 

The material herein is for informational purposes only and is not intended to and does not constitute the rendering of investment advice or the solicitation of an offer to buy securities. The foregoing discussion contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (The Act). In particular when used in the preceding discussion the words “plan,” confident that, believe, scheduled, expect, or intend to, and similar conditional expressions are intended to identify forward-looking statements subject to the safe harbor created by the ACT. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward looking statements. Such risks and uncertainties include, but are not limited to future events and financial performance of the company which are inherently uncertain and actual events and / or results may differ materially. We own shares in Goldcorp. These companies are not recommended as investments. In addition we may review investments that are not registered in the U.S. We cannot attest to nor certify the correctness of any information in this note. Please consult your financial advisor and perform your own due diligence before considering any companies mentioned in this informational bulletin 

i Bernanke speech, “Like gold, U.S. dollars have value only to the extent that they are strictly limited in supply. But the U.S. government has a technology, called a printing press (or, today, its electronic equivalent), that allows it to produce as many U.S. dollars as it wishes at essentially no cost. By increasing the number of U.S. dollars in circulation, or even by credibly threatening to do so, the U.S. government can also reduce the value of a dollar in terms of goods and services, which is equivalent to raising the prices in dollars of those goods and services. We conclude that, under a paper-money system, a determined government can always generate higher spending and hence positive inflation.” 

ii “24. Assuming, accordingly, that, at some point of time, (1) Debt liquidation leads to distress setting and to 

(2) Contraction of deposit currency, as state of over-indebtedness exists, this will tend to lead to liquidation, through the alarm either of debtors or creditors or both. Then we may deduce the following chain of consequences in nine links: 

bank loans are paid off, and to a slowing down of velocity of circulation. This contraction of deposits and of their velocity, precipitated by distress selling, causes 

(3) A fall in the level of prices, in other words, a swelling of the dollar. Assuming, as above stated, that this fall of 

prices is not interfered with by reflation or otherwise, there must be 

(4) A still greater fall in the net worths of business, precipitating bankruptcies, and 

(5) A like fall in profits, which in a ” capitalistic,” that is, a private-profit society, leads the concerns which are running at a 

loss to make (6) A reduction in output, in trade and in employment of labor. These losses, bankruptcies, and unemployment, lead to 

(7) Pessimism and loss of confidence, which in turn lead to 

(8) Hoarding and slowing down still more the velocity of circulation. The above eight changes cause 

(9) Complicated disturbances in the rates of interest, in particular, a fall in the nominal, or money, rates and a rise in the real, or commodity, rates of interest. 


Time-Lapse Interactive Graph Shows Stunning Rise in Anti-Euro Sentiment in Italy

The rise of the Five Star Movement in Italy is the number one happening in Europe right now and mainstream media has not even begun to cover it in any depth. The movement is led by an Italian comedian, Beppe Grillo.

Main Rules for the Five Star Movement

  • Not be an elected politician prior to 5 Stelle
  • Commit to stay in charge for no longer than 2 terms
  • Commit to take a minimum salary and give the rest back to the community
  • Post a public platform on the internet
  • Be willing to hold a public debate on the platform

Beppe Grillo’s personal position, not a mandate for the Five Star Movement is “Get out of the Euro and default on debt

For more on the Five Star Movement please see Six Reasons Why Italy May Exit the Euro Before Spain; Ultimate Occupy Movement 

Time-Lapse Interactive Polls

Following are some time lapse polls of the Five Star Movement and other political parties in Italy. Please give the graphs extra time to load.

The polls are from data gathered by data gathered by Termometro Polico (one on the best Italian poll-makers according to a friend who sent me the link.) The important poll is in tab number four.

Explanations and Comments on the graphs appear below.

For now, please click on tab number four. You may also wish to go to the link above for additional information (in Italian). 

Picture 4

The rise of the Five Star Movement in Italy is the number one happening in Europe right now and mainstream media has not even begun to cover it in any depth. The movement is led by an Italian comedian, Beppe Grillo.

Main Rules for the Five Star Movement

  • Not be an elected politician prior to 5 Stelle
  • Commit to stay in charge for no longer than 2 terms
  • Commit to take a minimum salary and give the rest back to the community
  • Post a public platform on the internet
  • Be willing to hold a public debate on the platform

Beppe Grillo’s personal position, not a mandate for the Five Star Movement is “Get out of the Euro and default on debt

For more on the Five Star Movement please see Six Reasons Why Italy May Exit the Euro Before Spain; Ultimate Occupy Movement 

Time-Lapse Interactive Polls

Following are some time lapse polls of the Five Star Movement and other political parties in Italy. Please give the graphs extra time to load.

The polls are from data gathered by data gathered by Termometro Polico (one on the best Italian poll-makers according to a friend who sent me the link.) The important poll is in tab number four.

5 star September 2011 vs june 2012

Explanations and Comments on the graphs appear below.

For now, please click on tab number four. You may also wish to go to the link above for additional information (in Italian).