Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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In the title.
I am sorry guys, I like to take a more ideological view of what/where the problem is and why there is not and never will be a solution to this crazy capitalistic debt crises.
I am not a Muslim but the very concept of interest rate is where the problem lies, we can go back to Jesus and the Jews, but in my view it is mentally a delusion to think to be able to set a rate of return (whatever it is) on money lending....fast forward to these days and we fins our selves in this mess, where at some point most recently they even invented negative rates, fortunately not for citizen bank deposit...not yet. Its clear that the master of the financial universe up there don't know a squat about what they are doing, or they know it very well....of course.
The history of the concept of interest rate, is said to be coming from the use of lending seed for growing wheat or other plants among farmer, many centuries ago. It worked like this, I lend you a bag of wheat seeds and when you harvest you give me back 2 bags. The system worked with the laws of nature, where possibly everything was flexible and if that year there was no crop I suppose there was no 2 bags coming back to the lender.
With bank rates we pretend to be able to forecast the law of nature, by extending the lending periods at lower rates as if that was a solution, but we all know is just kicking the can down the road, gov debits are getting bigger and also personal debit for most of us. So I am done with trying to change politics, and getting involved ....the system for me (the capitalistic system based on borrowing) is a deluded thinking creating many mental disorders and pathologies all round.
All in the name of money and the have and have not.
Total madness.
(Kitco News) - The gold market continues to ignore solid U.S. economic data has it hold initial support above $2,350 an ounce even as the U.S. labour market remains relatively healthy.
https://www.kitco.com/news/article/2024-04-11/gold-price-remains-above-2350-weekly-jobless-claims-fall-11k-back-its
A year ago cey was at this lvl, taken 14 months to return to it
I accept this is not for “long” who generally have a lot of different metrics and points they follow- which they are skilled at.
I’m not skilled at this- this is why my main pension is managed by others as are some other investments.
Like I have said a million times before, if you trade, play the data is the best way.
Getting hung up on cliches like “it’s a bit toppy”, “it’s oversold or overbought” and so on, matters not as they are past events - focus on immediate ones- these are generally far better predictors.
Accept not 100%, but probable and likely.
Lol- trade it, who cares on the in and outs, it's data and CEY is continuing to climb.
PCE, which FED rely on, won't be as bad now after CPI due to the PPI.
Steve I give up. Commodity input prices such as oil and silver are way up this month so they rally on older data when they were lower and drive commodity prices higher.
A bit under which is generally supportive.
Hi Tony,
Glad that you found it interesting, I only wish that more people would challenge their political representatives, unfortunately they don't and this is why most of the political parities when in power are able to keep making the ordinary people pay for their governments failed policies and the incompetence and greed that is the banking sector and the stock market!!
We also need proportional representation in the UK !
https://makevotesmatter.org.uk/sign-petition/
https://makevotesmatter.org.uk/
Hi Tony - do those RSI numbers take into account the rise in the GP?
Mr Tibbs,
I could not agree more with the reforms that are needed in that article. We have politicians and bankers effectively writing their own contracts on how they serve themselves rather than the populations which they should be privileged to serve.
Tony
Hi Mr Gnome,
Information and debate about the unfit for purpose and corrupt monetary policies that govern ordinary peoples lives (although most are ignorant of it) are never off topic, they are all relevant to wealth and investment, so thank you!
This organisation has been trying to challenge our UK government and BOE on the the failed monetary policies for several years now, unfortunately those in power just what to keep the broken system going for as long as they can.
Since 2010 Positive Money has been working to educate the public, politicians, economists and the media about where money comes from and how banks work.
https://positivemoney.org/what-we-do/magic-money-tree/
Daily at 83 and weekly at 75. Centamin is heavily overbought.
Have to agree Tornadotony
kind of my sentiment too. The only left to support POG is China right now mainly motivated for political reasons, and they are very unpredictable with market price "manipulations" . Yet one may say that POG downward pressure is limited I recall 2150ish been string support !?
Anyhow possibly best to pause and wait for better sp entries, I am not invested in CEY but other gold miners, just to be politically correct with my statements. lol
For this month gold has put in a peak imop. The problem is that the physical gold market in jewellery and the coin and bar buyers has practically halted as jewellery makers look for lower prices as a buffer on future sales and private investors buy in dips instead of a top of a rally. On top of that major factors holding USD down has just given way.Central banks buying of gold is closing out for the time being. Paper gold does not help miners in the real physical market some one has to take delivery. Finally when you get pie in sky media prices on gold it is a big red flag that the top is usually in.
Hi I suppose the $1mil question is where is going POG in the short/mid terms. We all know that long and very long terms the trend is always up but nobody has this long time frame investment view.
So I read that retail investors still have to join the gold party and buy in to it, some suggesting that it will happen with FOMO, hence skyrocketing gold price to $3000 or whatever...
Me thinking that with so much retail money (and not) now committed to crypto there wont be much appetite for gold from Mr. John unless we are talking about the jewels market, which at these prices has to be limited upside.
On the contrarian view is that higher inflation for longer and worsening sentiment on the USD Bonds may favour POG, after all Brasil Gov Bond are at 11.2% and the Real as also appreciated some 15% since 2020, Mexican Bonds are even a better prospect at 10% and 40% currency appreciation....
Time will tell, different forces at play in uncharted territories right now, best to look at numbers out and believe what you see....
Interesting to see how things pan out today. USD continues to break out versus yen. First interest rate cut by FED is now Q4 with a tiny chance given for September. Two planks helping gold rally are now out (they are likely to return a few months from now). If geo-political is the only thing holding it up then it would need to reprice to a degree to match that level of risk which is probably lower than $2350 an ounce.
Equities in Europe traded mostly higher in the premarket on Thursday in anticipation of the European Central Bank's (ECB) new monetary policy decision, with investors eager to see if the institution would keep its interest rate the same and forecast a cut in June.
The DAX stood flat at 8:01 am CET. At the same time, the FTSE 100 gained 0.13%. The CAC 40 went up by 0.06%. A minute later, the Eurostoxx 50 increased by 0.08%.
The euro and the pound sterling both stood flat against the United States dollar at 7:58 am CET to sell for $1.07436 and $1.25448, respectively.
Baha Breaking News (BBN) / JR
Gold currently $2340.45
A very interesting read on things related to Gold and CEY, but a few might regard as off topic. ALICE (new book) by Stuart Kells (Australian so beware) is about the farce, that passes with grim effect, as a Financial System, and if you ever wondered what happens in the marvellous banking system, and their friends in high places then grab a copy, and a glass of good whisky. The Fin system has been in disrepute for a few decades now, but has survived on information asymmetry, and outstanding amounts of BS from the chosen few (we can guess who they are). The brainwash asymmetry has been steadily eroded, and this is probably one of the more succinct exposes.
Misunderstandings about money and banking affect the incentives and tactics of the largest private banks, and how well citizens and taxpayers hold governments and financial regulators to account (joke really, as they do not). They prevent us all from having an adult, evidence-based conversation about debt, taxes and monetary policy. Without such a conversation (knowledgeably adjudicated by finance writers and journalists) citizens will forever be bit-part players in capitalism – the irresistible targets of participants with better information.
Protecting customers, taxpayers and the community as a whole from the excesses of modern banking requires a new understanding of the roles of banks and governments in finance; a new understanding of loans, deposits and derivatives as one family of financial contracts; and a new awareness of the privileged position of private corporations in the global financial system.
Crucially, society as a whole needs to think differently about the nature of money –possibly by first discarding the term itself. “Money” encompasses a range of phenomena that have intrinsically different purposes and risks. Commercial bank deposits are materially different to banknotes, for example, which are different to reserve funds. Money as a concept is increasingly outdated and misleading.
A better understanding of money would open up the possibility of important innovations such as lending-only and deposit-only institutions; new mechanisms of financial prudence and oversight; and an integrated monetary and fiscal policy that uses monetary and fiscal levers in concert.
A new financial conversation would make the causes of inter-generational inequities more explicit, and it would allow the community to rethink allowing “too big to fail” banks to earn, year in year out, enormous risk-free profits.
The banks operate under a social contract (almost) with the tax payers via the governments of the day, but have managed to write the terms and conditions of the contract, oddly enough, to their advantage? Pass the risk and the bailouts to the tax payers, and they take the bonuses and the Ferraris, and the odd yacht (etc, yawn).
and on the show goes ...
Isnt enough enough? The great thing about gold is it is arguably in our DNA and cannot be printed adh
The European Central Bank (ECB) will issue its interest rate decision on Thursday morning, and while markets are not predicting any change to the rate at the April meeting, expectations are ramping up for them to kick off the cutting cycle soon.
But across the pond in the United States, a stronger-than-expected economy coupled with higher-than-expected inflation readings are pushing the prospect of rate cuts from the Federal Reserve further into the future.
https://www.kitco.com/news/article/2024-04-10/ecb-fed-divergence-and-political-upheaval-could-roil-currencies-and-boost
A very squeezed market
There’s one further reason to expect another boost, according to investors. Unusually in this environment, investor demand for gold-backed exchange traded funds – typically a key driver for bullion – has yet to materialise. In fact, total holdings are close to the lowest level since 2019, according to data compiled by Bloomberg.
According to Ben Ross, who manages about $US410 million in commodities strategies at Cohen & Steers, that’s largely explained by investors chasing returns in the money market. But once the Fed starts cutting interest rates, that will eventually trigger fresh inflows into ETFs and boost gold prices further.
That, according to Ruffer’s Mr MacInnes, will create a very squeezed market.
Fed fund futures are currently pricing the first interest rate cut by the US central bank in July or September of this year.
Of course, not everyone is sold on bullion’s continued run. Jay Hatfield, chief executive officer of Infrastructure Capital Advisors, has no plans to add gold in the next 12 months, opting instead for equities as central banks start to cut rates.
There are small-cap stocks trading at “historic lows on a relative multiple basis” that will do much better than gold, he said.
Near term, the sudden exuberance in the market could induce a correction. Gold’s rapid ascent has lifted the 14-day relative strength index to a level that indicates prices have risen too far, too fast.
“There’s quite a bit of expectation going into the current price,” said Darwei Kung, head of commodities and portfolio manager at DWS Group. Mr Kung is still bullish into the second half and expects more participants to increase allocations.
JUST MIGHT INCREASE MY ALLOCATION, WHICH SITS AT ABOUT 15% OF MY PORTFOLIO ....
Good luck, and better hunches and bets
the gnome
Gold’s dizzying ascent isn’t over yet, say fundies
Sybilla Gross and Yvonne Yue Li
Gold’s rally to successive record highs isn’t over, according to macro fund managers, and the factors that have powered a near-20 per cent surge since mid-February are expected to fuel more gains in the precious metal.
The higher prices have been fuelled by expectations that the US Federal Reserve will lower interest rates this year, typically an environment that reduces the opportunity cost of holding the metal. Meanwhile, messy conflicts in the Middle East and Ukraine support demand for safe-haven assets, and purchases by global central banks add to a bullish backdrop.
On Wednesday, gold was trading at a record high of $US2,352.78 an ounce before key inflation data that could help shape the Fed’s outlook on interest rates.
The current momentum is a signal to increase holdings in gold, according to Rajeev De Mello, global macro portfolio manager at GAMA Asset Management. Prices might now be vulnerable to a slight correction, he said, but any pullback was likely to bring in more buyers.
“It’s a relatively small market, and it can squeeze higher very fast,” he said, comparing it to the size of US government debt securities. “It’s a very momentum-driven asset, really.”
Gold’s sharp and sustained move higher has vexed some observers because it’s happening at a time when real yields remain elevated. That’s typically a headwind for precious metals because they don’t pay interest.
But investors have not been deterred. In New York’s Comex gold futures market, money managers are placing more bullish bets on gold, with net long positions rising to a near four-year high in the week ended April 2.
One key factor has been enthusiasm among central banks, encouraging buyers such as Matthew Schwab, head of investor solutions at Quantix Commodities with $US933 million under management.
Central bank purchases
The firm’s long-only fund has been overweight gold since 2022, with bullion’s weighting about 30 per cent – compared with about 15 per cent in the Bloomberg Commodity Index.
Purchases by central banks totalled more than 1000 tonnes in 2022 and 2023 with much of that led by economies, particularly China, where efforts to diversify away from the US dollar have accelerated.
“What I think is really, really bullish about gold is that those ounces will be taken off the market and never come back,” said Duncan MacInnes, investment director at Ruffer Investment Co. “And that’s clearly very different to the [exchange traded funds] where ultimately everyone’s a trader of it.”
Last month, he increased his exposure to gold and silver to roughly 8 per cent across his two portfolios, which combined have about $US3 billion under management.
Andrew Maguire predicted much of the recent events.