The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Yep expect this will turn out to be a regurgitation of 2020 pit wall instability news
I always suspect down ramping from new identities with just 3 posts or so on LSE when they speculate on such news with no link. It is possible that it was old news seen from years ago.
Can you post a source
What I wished was clarification announcement about the news circulating regarding the stopping production in Sukari for more than 10 days due to a technical mistakes in the plant ?
The UK economy contracted by 0.5% in July - with early official figures suggesting that strikes and the summer washout had an impact.
The Office for National Statistics (ONS) said the decline - which was worse than many economists had expected - followed an unrevised 0.5% increase in gross domestic product (GDP) over the previous month.
ONS director of economic statistics Darren Morgan said of the yo-yo performance: "Our initial estimate for July shows that GDP fell; however, the broader picture looks more positive, with the economy growing across the services, production and construction sectors in the last three months.
https://tinyurl.com/yc8zur5w
Postwar CBI in the United States
Every postwar president from Truman to Trump has made an effort, not always
successfully, to influence monetary policy (Conti-Brown 2016). Furthermore,
Congress—sometimes from the left, sometimes from the right—often has the Fed in its
sights (Binder and Spindel 2017; Paul 2009; Wachtel 2017). The statutory
independence of the Fed is clear but that does not mean it is removed from political
influence or criticism that might influence decision making (Cargill and O’Driscoll 2013).
The Federal Reserve begin operating in 1914 as group of 12 regional banks with
weak oversight from the Board of Governors in Washington, D.C. Independence was
reinforced in the 1930s with the establishment of the Federal Open Market Committee
(FOMC) and the removal of the Secretary of the Treasury from the Board. During World
War II everyone agreed that the role of the Fed was to assist in war financing with low
interest rates. The Fed continued to peg long-term interest rates at 2.5 percent even as
inflation accelerated in the postwar period. Low interest rates were popular and the
policy record indicates that the Treasury was in charge; the Fed had little will or desire
to resist. As inflation increased during the Korean War, the Fed was ready to tighten
policy and assert its independence
https://tinyurl.com/mryxcbvp
“US banks are more profitable because of investment banking. Bank of America, Goldman Sachs, JP Morgan, Morgan Stanley – these are the only investment banking relationships you need. In Europe only Barclays has material access to capital markets. It has proved very painful for the likes of Credit Suisse, Deutsche and UBS to try to compete,
https://tinyurl.com/49wmemtm
US banks are more profitable because of investment banking. Bank of America, Goldman Sachs, JP Morgan, Morgan Stanley – these are the only investment banking relationships you need. In Europe only Barclays has material access to capital markets. It has proved very painful for the likes of Credit Suisse, Deutsche and UBS to try to compete, let alone what I call the ‘rats and mice’ players.”
We’re glad to see that you may be inspiring others with our journalistic content. We ask that you copy our content for personal use only, so as not to violate our Terms and Conditions. Otherwise, ask about our group memberships via lorenzo.passarella@ipe.com. Text copied from: https://www.ipe.com/current-edition/fear-and-loathing-in-european-banks/10065378.article
Considering this was published April 11, 2010, 4:00 a.m. ET it shows just how much of a hold the FED has on holding down PM prices!
There is no silver lining to the activities of JPMorgan Chase and HSBC in the precious-metals market here and in London, says a 40-year veteran of the metal pits.
The banks, which do the Federal Reserve’s bidding in the metals markets, have long been the government’s lead actors in keeping down the prices of gold and silver, according to a former Goldman Sachs trader working at the London Bullion Market Association.
https://nypost.com/2010/04/11/metal-are-in-the-pits/
https://en.wikipedia.org/wiki/Andrew_Maguire_(whistleblower)
S1.2449 after results UK. The direction of pound going lower by 0.44%.
Major indexes in Europe traded flat to lower in the premarket on Wednesday in anticipation of the latest data on the United Kingdom's trade balance, GDP, and industrial production, as well as Eurozone industrial production.
At 7:48 am CET the DAX declined 0.10%. The FTSE 100 declined 0.07%. The Euro Stoxx 50 and the CAC 40 were flat at the same time.
The euro was down by 0.11% against the dollar at 7:52 am CET, selling for $1.07420. Also, the pound lost 0.05% compared to the US currency to go for $1.24825 at the same time.
Baha Breaking News (BBN) / DD
Happy hump y’al
Actually, in all probability, it is controlled by those who control the government, but you could argue that is simply splitting hairs :)
CPI print shortly. Ready to add a few here, should we see some weakness. GLA.
The FED is a Government agency , controlled by whoever the Gov is.
Should this occur Tony, it would be bad for gold and stocks.
I trade and focus on simple data points each month and sometimes in between this if data is there. This has been profitable for me, and minimises my risk exposure on this very high risk stock.
This way I avoid all long running theories, predictions and so on for my trading amounts here.
As I said earlier - for the my long term, I take a long term view and believe inequities, but not here- but balanced.
Long term predictors of doom barely win- way too difficult to hit the exact point before, and also to then predict the best re- entry point. And if the doom doesn’t occur they simply bang on about for years and years- and if it finally happens, their gain is way less than all the years they were negative and should have been positive- I’ve a mate who kept saying house prices would drop again a few years after 2008 due to his chart and then again we’d get a recession in the early teens and house would drop after brexit and so on. House could drop in over half now and he’s still be in massive profit had he bought where I live….
Someone earlier posted a massive rise in gold- a quick google would show 100s and 100s of such articles over the past years and still the rise hasn’t been explosive
The fed is not the government - fact
The FED is a group of Banks.´
Its members voted in by Government
Steve,
I am holding my Centamin and Shanta gold positions and have no short positions in play. I pulled out of HoC at 92p recently as I do not want to own gold miners with debts.
On Sqwark box a presenter on the team made a brief one sentence concern about AI this week. They said that AI could be misused by technology funders to block open source journalistic reporting. So powerful sources like the USA Government can churn out rubbish data to support a particular narrative and use AI on search engines to push the web away from accurate sources of information by individuals commenting on reporting outcomes they had researched and discovered independently. I believe it is really important to do a lot of research in what is now going on.
As for the regional banks, they are by various means getting bailed out. As the USA FED applauds themselves for $1Trillion dollars of QT we know as a fact that at least $500B has gone into known failed banks and rescue depositors. There is a chance at present that another $500B is going to get ploughed back out again soon to more failing USA regional banks as local business keeps going under. So the $1T dollars came out of one budget line, but probable non-declared money printing was done somewhere else to keep everything evens.
If the Regional banks all collapsed in USA, the six major big banks would earn a fortune being paid by the FED to take them all on. The question remains what impact does all of this have on USD. In my opinion, the argument of having the cleanest shirt does not hold water. I believe the USD retreats to a degree probably 6% or so as the bragging stops for a short time at least. The impact on Centamin and Gold could be favourable and Centamin revisits the 120p peak price again a few months later. The price of gold then reverts back to what it could buy back in 2019 on major items in the same ounces of gold.
In the meantime the market is highly pessimistic on gold miners to an extent that is is within a few weeks of a major low like 95% bearish in views from the current upper 80's%. On 4 previous occasions major rallies have occurred when miners hit such a situation with everyone sitting on one side of the boat in total despondency. Hence my contrarian views.
Yes the facts indeed- the US is not a bank- fact.
Governments are not banks - another fact.
Sept. 12, 2023
For a sense of Egypt’s inflation and currency woes, look no further than the line of customers at a Cairo kiosk jostling for a pack of smokes.
In a country of 18 million smokers, speculation about imminent price hikes has led traders to stockpile cigarette products in recent months, in turn causing shortages and resulting in an unprecedented rise of over 50% in the cost of tobacco since March.
Tobacco prices are mostly set by the government and administered through Eastern Company, until recently wholly state-controlled - the country imports raw tobacco but produces cigarettes domestically.
There’s “limited availability of foreign currency, impacting production of some cigarettes,”
Eastern Company, in which a United Arab Emirates investment firm recently bought a 30% stake for $625 million, raised production twice in recent weeks in an attempt to tame prices.
The UAE investor reached agreements with banks to make $150 million available for Eastern to fund raw-material imports.
https://www.bnnbloomberg.ca/egypt-s-soaring-cigarette-prices-cast-smokescreen-over-inflation-outlook-1.1970176
-------------------------------->>>>
Summary:
The Egyptian gov't - through co-ownership with private companies - pressures the private company - in this case Global Investment Holding Ltd. - to secure additional loans ( US dollars ) to import tobacco - cuz Egypt has maxed out its credit.
It's the same story with all imported products.
The expectation is that supply constraints will only get worse in all sectors of Egypt's economy that rely on imports.
Steve, its maybe looking at the factual evidence.
The US if it were a bank, would legally have to declare insolvency.
They spend much more than earn,and have the worlds largest deficit.
And little chance of changing.
2miin read, but worthwhile as we wait...
GLA. I want better than expected view on inflation.
https://www.reuters.com/markets/us/futures-ease-after-rally-key-inflation-data-awaited-2023-09-12/
We do not want any sort of collapse---- gold and cey will plummet along with everything else.
Are you wanting this Tony?
Are you expecting this to happen Tony as you only post negative items?
I presume from your posts that you are 100% out of CEY, else if you believe all this, then sell stocks (incl. CEY) immediately.
I prefer to follow the data points and trade around them.
Hence I trade and do not hold long term.
If this is true 20-40% make money :-), which is very high considering the amount of idiots out there (I thought it would be lower).
Everyone has their own strategy- mine is to not scattergun on trading stock(s), but be super selective and be 100% clear on stock drivers and the company themselves, amongst other things. The 60-80% “follow” and fail to predict and / or understand the drivers and scattergun and follow the next stock and so on. Many fail, for example, to re buy in higher than the price they sell, or go in when the stock feels “below” what they perceive to be too low fair value without understanding why.
For long- a global mix is best and certainly not single high risk stock or sector specific like PMs.
As always- balance across investments and mix (stocks (some you decide on, some you don’t eg pensions you leave to other experts)), property and so so on) is key for long term.
Keeping too narrow is a recipe for waking up one day at market opening to a massive issue!
The evidence seems to confirm that a very large proportion of "Traders" invariably loose far more than they care to admit so they attempt to seek some compensation for their failures by boasting on forums about their trading prowess and mocking those who take a more long term approach.
Don’t Try This at Home?
60%-80% of Retail Traders, Depending on Broker, Lost Money Trading Forex CFDs
by Wolf Richter • Jul 28, 2020 • 67 Comments
An even greater share of retail traders lost money with these highly leveraged derivative contracts during the Pandemic than before.
https://rb.gy/a75ma
The FCA has reminded firms offering contacts for difference (CFDs) that CFDs are highly leveraged derivatives and adverse price movements in relevant markets can lead to substantial losses for consumers.
https://rb.gy/3hsa3
centamin would be far better rid of a fund such as "blackrock"the brand is generally regarded as a renowned as a parasite or ****roach due to its lack of morality, integrity and commitment which does nothing to inspire confidence in cey.
in contrast vaneck is widely regarded as one of the good guys and a fund that is willing to commit to the long term which inspires market confidence and shareholder faith in cey !