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1. Spot Gold has traded between $1,797 and $1,812 so far today…as of 7:00 am Pacific the yellow metal is up $11 an ounce at $1,807…Silver, on its way to $20+, has jumped 23 cents to $19.32…Copper is up 2 pennies at $2.93 while Nickel and Zinc are down slightly at $5.99 and 99 cents, respectively…Crude Oil is flat at $40.71 while the struggling U.S. Dollar Index has fallen another one-third of a point to 96.05…the U.S. federal budget deficit will continue to surge, and that’s only going to add more fuel to Gold’s fire…House Speaker Nancy Pelosi says a developing COVID-19 relief bill will cost at least $1.3 trillion, but argues that’s not enough…Pelosi and Senate Majority Leader Mitch McConnell need to resolve several key issues, including how to help schools reopen and whether to send another round of direct payments, provide more relief to state and local governments and deliver assistance to renters and homeowners…the U.S. shattered its daily record for Wuhan COVID-19 infections yesterday, reporting more than 77,000 new cases as the number of deaths in a 24-hour period rose by nearly 1,000, according to a Reuters tally…the loss of 969 lives was the biggest increase since June 10, with Florida, South Carolina and Texas all reporting their biggest 1-day spikes…most transmission of the coronavirus is coming from people who are asymptomatic and never develop any symptoms, a top official from the Department of Health and Human Services said in an interview this morning on CNBC’s “Squawk Box“…in India, coronavirus cases surpassed a million this morning, including 34,956 new cases in the preceding day, the highest single-day increase…several Indian states have reimposed lockdowns in high-risk areas, even as New Delhi moves to ease national restrictions imposed in late March…Brazil has become the 2nd country after the U.S. to surpass more than 2 million cases, reporting another 45,403 infections and 1,322 deaths yesterday…China, where COVID-19 originated with the Communist Party allowing it (strategically, it seems) to spread to the West, has ironically become the first major global economy to return to growth since the pandemic began…yesterday the country reported Q2 growth of 3.2% from a year earlier…2nd quarter growth in GDP is an 11.5% rebound from the 1st quarter…the latest data beat a median estimate from economists and marks a resurgence from a 6.8% contraction in Q1…a record number of illicit drug toxicity deaths have been reported in British Columbia…in fact, significantly more people (346) have died in B.C. in the last 2 months (May and June) than from COVID-19 this year…there have now been 728 illicit drug deaths in B.C. in 2020, and the number of fatal overdoses in each health authority is at or near the highest monthly totals ever recorded, despite the NDP government’s pledge during the last election campaign to fix this problem…Dr. Bonnie Henry’s solution, typical of those on the left, is for government to increase access to “clean” drugs for people with addictions, and for the feds to “decriminalize”…

2. Fresh off its WE Charity scandal (yet another abuse of taxpayer dollars and a classic example of “liberal privilege”), the Trudeau government has awarded an estimated $6.8 million contract to a state-owned Chinese company to supply security equipment for 170 embassies, consulates and high commissions around the globe…the contract for conveyor-style X-ray machines was awarded to Beijing-based Nuctech Company, owned by the Chinese government and founded by the son of former General Secretary of the Chinese Communist Party, Hu Jintao…Nuctech is known as the “Huawei of airport security”, supplying X-ray machines, scanners and explosive detection systems to airports and customs offices in 160 countries…by awarding this contract to a Communist Party owned company in China, the Trudeau government has insured that there will now be significant pieces of Chinese technology sitting in every Canadian embassy around the globe…the contract includes delivery, installation, operator training and software…notably, the Trudeau regime is the only government in the Five Eyes military-intelligence alliance (the U.S., Britain, New Zealand, Australia and Canada) that has not yet banned Huawei as a security and economic threat…

3. Proposals for new mines, power plants, pipelines or railways in Canada will have to include plans to hit “net-zero” emissions by 2050 if they have any hope of getting approved, according to the Trudeau government’s final strategic assessment on “climate change” released yesterday…Environment Minister Jonathan Wilkinson said the plan will ensure Canada’s goal to exceed its Paris climate agreement targets by 2030 and then hit net-zero by 2050…“We made a commitment in 2015, and implemented in the last mandate, of better rules for assessing large projects,” Wilkinson said…“Today what we’re doing is providing clarity to project proponents. It is important that the assessment of projects is consistent with Canada’s commitment to achieving a net-zero future by 2050“…the Impact Assessment Act, a horrendous piece of legislation with multiple flaws, was passed before the last election to overhaul how federal environmental assessments are done…a long list of projects, from mines and power lines to wind farms, airports, and pipelines, automatically require those assessments, which will drag out the approval process and put Canadian companies at a competitive disadvantage…the environment minister can also insist a federal assessment be done even on some projects not on that list…

4. The Dow is up 31 points as of 7:00 am Pacific as the market tries to shake off a more than 7% decline in Netflix (NFLX, NASDAQ)…the stock is under pressure in early trading after the company reported earnings of $1.59 per share in Q2, short of estimates of $1.81…revenue of $6.15 billion and global paid net subscriber additions of nearly 10.1 million beat expectations…however, Netflix expects 2.5 million net subscriber additions for the 3rd quarter, less than half what analysts had expected…in Toronto, the TSX has gained 64 points, aided by the Gold Index which is up 3 points at 360 (key resistance)…Sona Nanotech (SONA, CSE) is up another 23 cents at $8.48 as it aims for a new record closing high…Galway Metals (GWM, TSX-V) has hit a new high of $1.23 in early trading…Amex Exploration (AMX, TSX-V) has added 7 cents to $3.07…yesterday the company reported 44.2 g/t Au over 9.1 m (core length) in drill hole PE-20–171 from its Eastern Gold Zone, one of the highest-grade holes drilled to date at Perron…this intercept is located approximately 600 m vertically below the highest grade interval reported to date of 393.3 g/t Au over 1.70 m in hole PE-19–22…TraceSafe (TSF, CSE) announced this morning that it has appointed Marcin Samiec as Chief Privacy Officer and VP-Technologies…Samiec is a leading authority in technology and privacy law compliance, with significant experience implementing privacy and security by design into the product development process and business operations while harmonizing the complexities of privacy laws and regulations around the world…in 2020, Tracesafe has already secured customers or pilot projects in 7 countries and is actively working to expand, and is in discussions with, a number of additional markets crossing a multitude of regional privacy jurisdictions…with customers stemming from government agencies and institutional organizations such as health care and universities, TraceSafe believes it can operate at the highest privacy standards in the industry…TraceSafe offers contact tracing and real-time location services for enterprise, venues, and government…TSF, up slightly at $1.59 in early trading, is currently wrapping up a $10 million private placement at $1 per unit, announced June 19…the Venture has gained 6 points to 667…this is a bull market on steroids…

5. Japan will look closer into whether to issue central bank digital currencies (CBDCs), the government said in its annual policy roadmap, a sign that Tokyo may be warming to the idea as COVID-19 heightens demand for cashless payments…in its first-ever reference to digital currency in the annual plan, the government urged the Bank of Japan (BOJ) to liaise with other countries to jointly examine its feasibility…“The BOJ will coordinate with other countries to consider CBDCs by examining and verifying technological tests,” according to the document, which serves as guidance for the government’s long-term economic and fiscal policies…Facebook’s (FB, NASDAQ) efforts to launch its Libra cryptocurrency stablecoin have forced central banks to look more seriously into issuing their own digital currencies…China has been among countries leading in the drive toward issuing CBDCs, prompting some Japanese ruling party lawmakers to urge Tokyo to catch up…however, the government and the BOJ have been cautious about moving too quickly given the legal barriers and social disruptions it may cause in a country that has the most cash-loving population in the world…still, the pandemic may add momentum to calls for Japan to look into CBDCs more seriously, if more people avoid handling hard cash, and to move towards digital settlement…

6. According to a new study reported in yesterday’s Financial Post, an estimated 400,000 Canadians aged 18 to 24, who are still in school, still living with their parents (in households with total incomes of at least $100,000), and who earned between $5,000 and $12,000 in 2019, are eligible for CERB benefits (the total cost of CERB is now north of $70 billion)…these 400,000 young Canadians, targeted of course by the Trudeau Liberals, represent a total potential cost to CERB of $4.8 billion (before taxes on CERB)…it’s also worth noting that for this group of CERB-eligible Canadians, CERB benefits are on average higher than their monthly earnings in 2019, meaning they’re actually better off receiving CERB than they were working…another 287,300 CERB-eligible Canadians with the same characteristics (aged 18 to 24, in school, living at home) who earned between $12,001 and $24,000 in 2019 represent a total potential cost to CERB of $3.4 billion…members of this group who receive CERB would (on average) experience no decline in their average monthly earnings and would more than likely experience an increase…

7. The importance of selling yourself!…times are tough for many people during this pandemic, especially if they weren’t invested in Gold and Silver stocks…Tim Cestnick, author, co-founder and CEO of Our Family Office Inc., wrote in The Globe And Mail: “People around the world are trying their darndest to earn or find the money they need to, well, live life. Alex Masmej, a 23-year-old Parisian came up with a unique idea: He sold shares in himself (actually, he sold “tokens” in himself, called $ALEX), raising about $20,000 (U.S.) from 30 investors. The investors will receive a share of any money he makes in the next 3 years, up to a maximum of $100,000. Mr. Masmej has agreed to promote the investors through social media and – get this – they can also vote on some of his life decisions”…that’s a lot better than sitting at home collecting CERB…

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