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Have you ever lived or worked in China Cowichan?
Do you know any Chinese people well?
Your rhetoric suggests the answer to both these questions is no. If you seek more contact with China & Chinese people you will find that the propaganda that you are fed is just that - ludicrously biased & exaggerated rubbish that has very little connection to actual life in China & the Chinese people in general.
There moral ground is clear to see , in politics today there are none, just money and piracy. Plus jealousy.
Take over where you wish, with assets ,and plunder.
This is modern day history.
Lets not forget the moral issues here.
The USD represent endless wars around the world, corruption, interference with other sovereign countries, divisions and much more..
The USD is slowly loosing its dominance not on the ground of financial insecurity, but on moral issues.
Otherwise why Countries would actively take the pain, to change a system that has been working so well for so long?
The establishment media will always find some reasons, why USD has to keep its hegemony, talking about the Chines can't be trusted with accounting and financial data?
Pure propaganda based on racism and discriminations...Are you telling me that we have to blindly believe any info and finance number the USA and its companies feed us?
Hi Cowichan,
Its likely no one really trusts the dollar, despite its subject to the US FED manipulation , but as you imply its the preferable option for the time being!
Major European stock indexes traded higher in the premarket on Wednesday as a fresh batch of earnings marked the morning, with BNP Paribas, Lufthansa and UniCredit all releasing their quarterly results. On the data front, inflation in the euro area ran at 7% in April, a figure only slightly higher compared to March. Today, investors will be turning to Eurozone's unemployment rate report.
The DAX added 0.07% at 8:01 am CET, while the CAC 40 rose 0.22% and the FTSE 100 increased 0.11%. The Euro Stoxx 50 grew 0.34% simultaneously.
The euro was 0.16% above the dollar at 7:59 am CET, selling for 1.10188. The pound was up 0.19% against the greenback and went for 1.24900 concurrently.
Baha Breaking News (BBN) / AY
Happy hump y’al
https://www.politico.eu/article/defense-us-dollar-global-economy-currencies/
Everyone seems to hate the greenback. China recently crowed about its “triumphant” purchase of an LNG cargo, which was paid for in yuan and traded through China’s Shanghai Petroleum & Natural Gas Exchange. And Brazilian President Luiz Inácio Lula da Silva has called for development of a new currency for BRIC countries — Brazil, Russia, India, China and South Africa — to dethrone the dollar.
Such events attract media attention, of course, but they may just turn out to be sideshows. Of greater import are China’s arbitrary punishment of Deloitte for alleged audit failures, the summary arrest of the Mintz Group’s corporate due diligence team in Beijing and the political corruption that has long plagued Brazil.
In essence, the devil may be hated, but for all the chatter about its death, neither the numbers nor the stories support the hype.
(article continues link above...)
Summary:
The US dollar is not trusted because of its government backing, but because all dollar contracts are subject to enforcement or judicial settlement under common law--not subject to varying local laws or arbitrary decrees. (unlike BRICS - whom no idiot would trust)
further reading
https://www.ft.com/content/8c21b86d-66de-4c69-8c8d-a0ef270ae3e3
Indeed some info I cam across recently. If true it only make sense that they will drop dollars and buy their own production...
Incedentally China is producing 330 tonnes annually, making it world largest producer.
updated 2023.
More Central banks pile into gold:Singapore added 17-3 tonnes to its reserves in March. Kitco. Anna.
If you read the article note, China added,but only reports inmorts ,not home produced buys.
Of which it buys the total home production. no exports .
The main reason it's different to 2008, is because chalk is different to cheese- look at the 2008 drivers- there's your answer. Timeframes are key- and if you look at it, as I said 25% drop in gold, and 65% drop in CEY. So if you think that this is a banking crisis, why on earth are you invested here?
Bitcoin and crypto is NOT a safe haven and is NOT a competing asset unless you mean everything is a competing asset? As always, it's NOT about the absolute rate rise tomorrow (unless there is a massive shock on what is expected), it's all about what he says and how he says it- and how this is interpreted.
How you say Bitcoin has lost it's momentum is bonkers and beyond me when it's gained @43% in the past 6month (now that' momentum) is beyond me.
Just a wild guess.
Looking at techs and price action in conjunction with the Fed rate tomorrow, just wondering after they raise tomorrow for the last time, if POG will be ready to make new all time high.
A lot of upward pressure from sentiments and physical buying right now, US economic data have been quite negative even if not affecting directly POG due to what is left of U$D credibility as safe haven.
Incidentally for what is worth Bitcoin (a competing asset to gold) imo has lost its momentum, been down more than 40% from peak, and failing to reach recent high...
All eyes on gold then....
Indeed this imo is actually the difference between 2008 and current banking crises....
You SteveJones999 have been saying all along....there is no banking crises like 2008 because the financial system have learned to manage it.....
Now imo they are even exploiting it, by allowing big banks to take over smaller banks and in doing so centralising money flows.....
but about gold price two things to not is that, in 2008 when Lehman Brothers announced bankruptcy, Set 15th 2008, POG shote up more than 20%, for then panic setting in and retracing to almost 30%.
Subsequently QE was introduced Nov.2008 and POG started a long trend run that actually trebled in price till 2011.
So I suppose it all depend on time frame investments to maximise returns. Most gold miners in that time actually doubled in sp, but I suppose they could even grow ten times if wasn't for the event of growth stocks and techs which tuck out most of the floating capital from the markets...
Same thing actually is happening now, but imo at even faster pace, in the sense that there are actually st**** like NVIDIA that are already reaching all time high at PE way above 100.
I just wonder what price some tech stock will reach when the Fed. will stop rising rates of even start a new QE again....crazy
But then again apparently most of the US congress man and woman, do invest in these blue chips stock and I suppose this goes a long way to answer my question.
Although to be fair it was quite a different scenario in 2008 as Sukari was then in it's early development stage, the first gold was poured at Sukari in June 2009 and commercial production began on 1 April 2010.
Spot gold rose by over 1% on Tuesday as investors sought safe-haven assets after job openings in the United States stood at a lower-than-expected number in March. In addition, the unresolved dispute between the two biggest political parties in the US about the federal debt limit has seemingly caused more fears that the world's strongest economy may be facing more issues.
Gold increased by 1.45% to $2,011.49 per ounce at 10:42 am ET today. Silver gained 1% and reached $25.23 per ounce at the same time.
Platinum was flat at $1,055.56 per ounce at 10:05 am ET. Palladium dropped 2.88% to $1,423.33 per ounce concurrently.
Baha Breaking News (BBN) / MS
Well something seems to be pushing gold higher. Resitance at $2020-2025, let's see what happens.
I also find it bizarre how the inference is that this is somehow good here on this CEY board- last time there was actually a banking in crisis in ~2008, gold dropped about 25% and CEY dropped about 65%!!!
If I think there was a banking crisis- I'd be out of here 100%
I said there was no banking crisis and have said same for some time
You say banks not in trouble but KRE (Regional banking ETF) is down 6.60% as I type. There was sugeestions that if this is looking like a crisis then FED may not hike tomorrow and everything will go up. Gold is back above $2000, I wonder if it is sniffing this out?
They don’t as it has zero impact
SJ
I am not sure if people keep typing with the intention to affect CEY sp....
I personally am just interested on other people opinions.
https://www.youtube.com/watch?v=uwQWi4bahas
https://www.youtube.com/watch?v=9z70BKwfSUA
Now as we try to grapple with fearsome consequences of Trussonomics’ disastrous impact on the bond markets (and hence the UK’s mushrooming overdraft) there’s an urgent need for a new Bird and Fortune to tell us what’s going on.
At least they would give us a laugh!
https://www.youtube.com/watch?v=mzJmTCYmo9g&t=20s
https://www.youtube.com/watch?v=9z70BKwfSUA
So It's not unusual that Centamin is down the lavatory again!
It's to be expected that this share will remain in the "Pile of pants" category until the waste clearance contract costs are reduced dramatically!
The markets are reflecting there is no banking crisis. It’s all about the FED and inflation for gold and cey - it’s really that simple - fast deceleration is what is required of inflation like I keep saying- the rest is a sideshow that’s keeps people typing but does zero to the SP here