The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen 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.
https://twitter.com/business/status/1431955301503315968?s=19
Just to add a bit more, for infotainment, in case your weekend is lost!
First seriosuly...My football team won in its final, and looks odds on to take the premiership, ...whew!
The Central Banks have committed to printing over $10 trillion (half of total GDP) under the auspices of Covid relief. IN Oz we are entering our 2nd quarterly recession resulting from our governments management of covid, have record government and private debt, housing out of reach, outsourced our manufacturing, and on it goes.... [We also have more people dying on road accidents per month than covid, and an obscenely all time high of teenagers admitting themselves with mental heath issues into our hospitals, the cure is worse than the disease?]
The biggest deal on the ASX was the acquisition of AFTERPAY for a cool A$39 billion, which had neither an orginal idea, or a large robust moat, and has just revealed a $156.3 million net loss, 689 per cent worse than its $19.8 million loss last financial year, [BUT of course, with high expectations for growth amid being Australia’s biggest ever corporate takeover!!], and this after the co-founders took $x00m off the table, and they now pocket A$2.7 b each ... great money if one can get it, why bother with mining or finding gold. Eldorado recast/reminted? AFTERPAY is part of the endless credit and debt game that is now part of life, as few now (apart from co-founders) have had a meaningful pay increase for decades, and hence cannot afford the lifestyle they aspire to. Answer: BUY NOW, PAY LATER, and why not?! Productivity gains?
We work hard to not learn from past mistakes, believe what we are told if we are told enough times, regardless of how stupid it is. In fact reminds me of MOBS, MESSIAHS AND MARKETS, by Bonner and Rajiva, and of course
THIS TIME WILL BE DIFFERENT
Enjoy the dying hours of the weekend, for next week is another week in the mystery of the [slightly regulated] market place, and my football team is a other week closer to an appearance in the Grandfinal!.
best the Gnome
Gold price, has some long term sets and short term. The long term sets are etched in ink by the continual loss of purchasing power of fiat currencies. The US dollar has lost more than 95% of its purchasing power since the creation of the Federal Reserve in 1913 (happy coincidence?), as adjusted by the official consumer price index (CPI). In other words, goods and services you could buy with less than $5 in 1913 would cost you $100 in today’s dollar.
Watch the Money supply (M2) in the U.S. which has skyrocketed over the last two decades, up from $4.6 trillion in 2000 to $19.5 trillion in 2021. The effects of the rise in money supply were amplified by the financial crisis of 2008 and more recently by the COVID-19 pandemic. In fact, around 20% of all U.S. dollars in the money supply, $3.4 trillion, were created in 2020 alone (!!!). Reason to believe in the value of the fiat currencies? If the fiat goes down in effective value, the value of gold in terms of the fiat goes up?
But Ray Dalio explained, if you put money back into the economy by roughly the same amount that it was taken out / cancelled, then consumer inflation will not pop up. The equation is: – X (money destroyed by crisis) + X (money printed to replace them) = 0 CPI. Assuming this money gets directly in consumers’ hands and they spend it on CPI-related goods, not on stocks. Evidence for this balance? No.
Recent figures in Oz, show spending on retail is going down, and the spending on house purchases and shares is going up. The hedge fund industry is now around $3.1 trillion. In 2020, the value of venture capital investments in the U.S. amounted to approximately 130 billion U.S. dollars. Both are competing (very) aggressively for quality assets. Both are overpaying. So money is washing around looking for good assets to invest in.
The monetary system is fiat with a massive tilt towards "credit and debt money". Probably with no way out.
Fiat definition? a command or act of will that creates something without or as if without further effort
According to the Bible, the world was created by fiat, and today we have our earthly versions .. the central bankers.
The other aspects come down to the word trust. Given the constant debasing of the value of money over the last several decades, topped by recent events such as wars, viruses, bubbles, fraud, what would you trust in?
good luck
the gnome.
Same here Razors electric soared just when those with aircon want to use it.
Prices rising is inflation no matter the trickery in the govs figures.
Are wages going up 10 %.
No.
Good night , sleep well.
There's nowt can be done about it. Lol.
MrBond I got a letter from the gas company today saying their price is to rise in a week or two by 10%.
Surly as everything seems set to rise then gold will follow suit.
Everything crossed.
Razors it's no normal times, the market has gone mad.
Good luck with your trading outside this slurry.
I sold a property with the completion being sept 24th.
I’ll miss the dividend date but hopefully I’ll manage to increase my holding while the stock is ridiculously undervalued.
I have my eye on another property purchase, hopefully if the share price increases, I won’t have to sell all my holding to make the money up.
My last purchase of Centamin was last December at £1.12ish. I can’t believe 8 + months have lapsed and the price hasn’t risen enough for a profit, not even a small one.
Watching with interest.
I agree Autonomy, but one year Mr MaGuire will have to be right unless gold falls for decades beyond when he is no longer writing. . Let’s hope this year he is finally right, rather than us staying range bound before falling a bit further. I remain ever hopeful … but take the likes of AM along with the tea leaves and my pinch of salt….
Thanks all
Its just when you watch the kitco videos they all think inflation is good for gold
Lets hope that Andy Maquire is right with his 2300 plus gold in the next few months although i think he is a little bias
Autonomy, it is low real interest rates that are good for gold, so high inflation controlled by high interest rates is bad for us, however it looks increasingly likely that inflation will rise faster than interest rates, (Powell n no hurry to raise them much) meaning lower or increasingly negative rates which is good for gold (unless the competition from rising shares is greater). However most of all gold is currently range bound so having got near the bottom was looking for a reason to rise near the top, which it has. The big longer term question is when will the negative real interest rates give gold a kick up, perhaps when shares and Bitcoin are seen as less competition, and bonds already are imho
The undertones were taper, interest rate rises further off. I take more notice of interest rates than anything else, taper is afterall, inevitable.
The answer could be tapering bond buybacks which means many more will get out of Bonds.
If not there is no clear logic in the markets now, just panic and large rapid movements of funds to somewhere they perceive safer ,that pays some trivial amount.
Without low interest or zero interest the system would now likely fall apart.
Have a good weekend all.
Steve
I wish it was that easy as everybody has different theories on inflation,dollar
Interest rates etc,the dollar went down on Friday so i presumed that helped,but if rates rises with inflation so does the dollar,so why does this help gold
So i am none the wiser
Hi Cowichan,
Thank you as always for all the effort you put in on providing information that is very informative.
It’s more complex than that- a quick google will reveal the answers you are looking for
https://youtu.be/nJ2umglai24
Informative chat with the veteran financier Rick Rule - have a good weekend all !
Gold flying this evening
This week, Andrew Maguire explores the unique conditions that have seen refiners buying back COMEX physical silver for the first time in the history of the Futures market.
With his usual surgical analysis of the markets, the precious metals expert timelines the events that have helped form the perfect base for gold and silver to rally.
https://www.youtube.com/watch?v=WN109AKxiA4
For those that like to moan for whatever reason please read the disclaimer below
The opinions expressed in this video of Andrew Maguire and any guest, do not purport to reflect the official policy or position of Kinesis.
Labor is American piegeon English!
So if you want to be padanatic, then although Labor day is on the same date, but the assoiated bank holiday or time off has been moved to the prevous Monday, seesm like manipultation to suit an agaenda to me!
Powell dont appear to be very concerned about inflation and it could be quite sometime before interest rates rise,so why is gold rising,i was under the impression that inflation was good for gold
Prices of precious metals increased on Friday as the investors digested the remarks made by United States Federal Reserve Chair Jerome Powell.
Powel conveyed that the coronavirus' Delta variant impacted the central bank's position on asset purchases, but hinted that tapering could be in the cards in the case the economy grows as "broadly as anticipated."
Gold went up by 0.87% to sell for $1,807.36 per ounce at 11:01 am ET, while silver gained 1.67% to $23.94 a minute later. Platinum soared 2.53% to $1,007.17 an ounce at 11:03 am ET, with palladium concurrently up by 1.51% to $2,428.99 per ounce.
Breaking the News / BU
Yep Mr T, hence my earlier post.
Sector issue.
Off to the races again..
FTSE 250 up 17% since beginning of the year and 35% from this time last year. Ever think we're flogging a dead horse?
Mixed from Powell- since start of year, gold down ~5%, CEY down ~27%, POLY down ~19%, SRB down ~36%, FRES down ~32%, HOCHS down ~32% (note that's excl. any divis paid).