The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
posted 1 hr ago
Its been a great few weeks at Sukari - great geology and a great crew. Many thanks to Islam El-Hoseiny , MSc for all the help with logistics and being part of ongoing geology discussions!
https://www.linkedin.com/posts/brett-davis-9a264513_its-been-a-great-few-weeks-at-sukari-great-activity-7059574767086956544-OC_7
------------------------------>>>>
Some chatter about Sukari was that it's quote 'a bird's nest'
Perhaps that's a good thing considering the share $ spike today
Lucky there was an interesting article on Kitco News yesterday on how the market doesn’t react to news in any predictable way (looking over many years) but does it’s own thing often using the news as an excuse post hoc. I wonder if today gold will go one way on the news at 7pm and another on what is in Powells speech beginning at 7.30pm. It does feel the market wants an excuse to take out the all time high, but whether it will use today’s news as that excuse or wants to consolidate or fall back first who knows?
Trust at face value does not enter into it. US, companies are required by law to open their accounts for inspection, so the US, is not imposing some requirement on China, which does not apply to US companies. When Chinese companies want to list their shares in the US stock market, they are quite rightly obliged to provide the same requirement as US companies, otherwise why bother listing.
The Chinese regime resistance to company accounts examination, is analogous to someone meaning to buy a second hand car, and the seller , refusing permission to look at the engine , or to check under the body, for rust, or even to do a test drive.
Nothing CEY can do, just like today- like most things, just passengers, albeit very good... oh to be Jerome lol.
19:00 announcement, and then the ensuing commentary which can sometimes radically change things from the initial moves, but not always. Who knows- the nice things is ( or bad thing - depending on your viewpoint), you can't do anything if only trading on LSE...
Good luck all whatever your positions are :-).
An excellent ,surprising rise today.
Pity if it dosnt continue,but I think sentiment is not sufficiently high.
Tommorrow will probably mean profit taking , the market is very nervous.
I agree with you that people of Chinese descent are innocent.
It's the communist system, a government of absolute control has them in bondage. Westerners are remiss in their lack of appreciation of our freedoms - myself included.
We're even free to bi*ch about our elected politicians (try that in the BRICS nations see how long you stay out of jail, or alive) and we can elect a new set of clowns regularly.
But don't lecture me about the Chinese government being innocent. Canadian's of Chinese heritage of which their are MANY (and I'm PROUD that Canada is one of the most diverse nations in the world - welcoming people from every nation - our immigration policies are second to none) are routinely harassed by the CCP minions.
Human rights as we enjoy them don't exist in China, period. And the CCP actively deters any criticism of its regime, both internally and internationally - by all means possible. To say it is otherwise is propaganda on behalf of China.
Read some of Canada's recent interactions with China's communist system and see if you understand whereupon I base my opinions.
https://globalnews.ca/news/9601649/china-foreign-interference-spying/
https://www.cbc.ca/news/world/china-us-stations-canada-1.6818889
https://www.aljazeera.com/news/2023/4/13/canada-faces-questions-over-alleged-chinese-interference
https://www.theglobeandmail.com/world/article-amid-hostage-diplomacy-spike-british-look-to-canadas-two-michaels-case/
Lastly, no country or person is perfect. I didn't intend to disparage Chinese heritage. It is ancient and beautiful - but until such time as the CCP recognizes it operates the farthest thing from a free society, China will remain a place few young persons will want to live. Thus, emigration for the those Chinese who can afford it will thrive.
I am seeing with suspicion this POG rise and USD lower, just before Fed rate and any dovish comment that Powel may come up with....
Then again these days, it seem the market is reacting the opposite to any economic indicator and news...
lest see
Many Chinese coys, have been delisted from NY, because China refused to allow accounts inspection.
You may be right or wrong.
Refusing to allow accounts inspection doesn't automatically means that account are wrong.
I studied a bit of accounting, did you know that is perfectly legal in the West, to arbitrarily attach value to balance sheet items, or just change the interpretation of a business model, to completely change the P&L end result?
IMO if we trust the US at face value we should do the same with the Chines, other than that is just discrimination and racism.
More over many are pointing fingers toward the Chines as corrupted and dishonest, but have no problem what so ever to invest their money in Egypt....Wow
Real time
The global index of perceived corruption shows China as number 65 and India as number 85, while Hong, Kong, is no. 12. I find it worrying that China, in such a poor corruption rating has taken over HK, with its rules , rather than the other way round. Many Chinese coys, have been delisted from NY, because China refused to allow accounts inspection. The BRICS, countries all have high corruption according to the Global index.
lol.....Have you ever lived or worked in China Cowichan?
IMO given his name...he is probably Chinese.
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.