The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Possibly share holders should consider writing to Centamin IR asking for some reassurance of what measures, if any, have been put in place to safeguard the confidentiality of sensitive information ?
Was he such an old fool, he seems to have more integrity than Cameron or Boris and I doubt he ever lied as much as they continue to do so.
https://inews.co.uk/news/politics/jean-claude-juncker-should-not-listened-david-cameron-brexit-961807
Time is said to be the greatest healer. But for Jean-Claude Juncker, the President of the European Union between 2015 and 2019, the gaping wound of Brexit five years after the referendum still seems sore.
The Brexit vote, he argues, goes against history. But not helping the healing process for the fiercely pro-European former Prime Minister of Luxembourg – his views were shaped by listening to his father’s stories of the destruction of the Second World War – is that it happened on his watch.
He blames his former nemesis David Cameron for the “mistake” of Brexit, himself for listening to Cameron, and the ‘misinformation’ that he claims ‘brainwashed’ the UK’s electorate.
“I should not have listened to David Cameron,” he says leaning back in his chair in his office in the commission’s Brussels HQ.
“He told me not to interfere in the debate in the UK, not to come to London, not to do interviews with the British press. I made a mistake because I did not defend the EU’s point of view in the UK. They asked me to shut up, so I shut up. That is something I criticise myself for. I should have spoken out rather than stay silent.”
Whether or not his intervention would have turned the 2016 vote in favour of Remain is up for debate. When US President Barack Obama infamously said Britain would be at the “back of the queue” for any trade deal, the intervention backfired tremendously. And this was with a politician popular in Britain. Juncker – perhaps unfairly – has often been portrayed as the ultimate European bureaucrat.
e has more to say on Cameron’s failure though. Before calling the referendum the then Prime Minister renegotiated some terms of Britain’s membership arrangements. It was an intense and controversial deal to secure a special status for the UK.
“And yet, I saw that this agreement we negotiated with the British government played no part in the referendum campaign,” Mr Juncker, 66, said.
“No one told the British public what we agreed on, say, the free movement of workers,” he adds, shrugging his shoulders at what he says was ultimately a pointless pact.
It could be argued, however, that Mr Cameron failed to secure all he needed to really win over the British public, with German chancellor Angela Merkel refusing to grant Britain an ‘emergency brake’ to halt migration within the bloc.
Juncker was already seen as a bête noire by the Brexit campaign. He was the EU’s ultimate insider, an architect of the Euro, and – as Luxembourg Prime Minister for almost two decades – had attended more EU summits than any other leader. He was branded an arch federalist, said to be an alcoholic, and even tied to the Nazis through his father, who was forcibly conscripted into the German army following the invasion of Luxe
When will the man in the street learn(especially in the US with Reserve status) that if you pour water in beer to a greater and greater degree the less beer is in there...this is magicing money backed by nothing....At some point Govt debt in the UK and US is going to be looked at for what it is...a whole bowl of nothing. You only have to watch the cowboy westerns to see what money was...GOLD and Silver...if there was paper money...it was backed by GOLD and Silver....there are some westerns that actually have mention of the first paper bills...treated with extreme suspicion
The price is so steady it's like it could thread though the eye of a needle
U.S. dollar's status as reserve currency in jeopardy, ‘I'm bold gold, silver & platinum ’ - Danielle DiMartino Booth
Even in light of a clearly recovering economy, and new COVID cases on the decline, the government continues to inject liquidity into the financial system through fiscal and monetary stimulus, with the end result being the devaluation of the dollar and losing its global reserve currency status to China, said Danielle DiMartino Booth, CEO of Quill Intelligence.
“We are no longer in an emergency situation. If the Fed is going to insist on being an ostrich and sticking its head in the sand, while it's pumping out $120 billion per month of quantitative easing as if we were in a depression, then yes, I see every reason for China to continue playing its very game with the intention of eventually unseating the U.S. dollar,” DiMartino booth told Michelle Makori, editor-in-chief of Kitco News.
Even if the Federal Reserve wanted to turn things around for the dollar, it would not be in a position to do so, Booth said.
“If the Fed was to try and normalize policy and the stock market were to take a really big downturn, then you would see that ripple through the economy and we would be back in recession,” she said. “The magnitude of the Fed’s intervention in this particular episode has put an entire economic recovery inside of a time compression chamber.”
The labor market, automobile and other consumer discretionary sectors have all rebounded as a result of fiscal stimulus, facilitated by the central bank, she said, but the Fed has gone on a ‘bridge too far’ and needs to step back and regain its independence from the Treasury.
Booth emphasized that should the dollar lose its crown as the world’s defacto reserve currency, the mantle would be taken up by the Chinese yuan.
“I can’t see [the dollar] being replaced by anything else but the Yuan, which would explain why [China] is trying, as aggressively and as rapidly as they are,” she said. “I’m not of the opinion that it’s going to be a cryptocurrency.”
On the fiscal stimulus front, Booth said that stimulus checks are not encouraging people to return to work, hence the lower-than-expected nonfarm payroll report in April; the U.S. added only 266,000 jobs last month, well below the 1 million expected by economists.
On the contrary, stimulus checks are indirectly hurting small businesses, Booth said.
Where is the action by regulatots? What are the auditors up to? Truly a cess pit. Should be names shamed and heavy fines.
Exactly what is the score here ?There should be serious consequences
Yep, no doubt he found that truth at the bottom of a bottle of malt whisky. But it's still a good quote.
Asia mainly down, following US again.
US futures only a tad down at the the moment.
Key today will be the US CPI data: "The consumer price index for April will be reported on Wednesday at 8:30 a.m., and is expected to be the hottest in nearly 10 years.
Economists have said the jump in inflation looks larger because of the base effects of last year when prices were weak due to the pandemic shutdowns.
The specter of inflation has been spooking investors, so any surprise the upside could stress the market."
Anyone who drinks before noon should be treated with great suspicion
I heard wine for breakfast ?
Yes i remember that from the old sozzled fool.
Hi Spindler!
"When things become serious, you have to lie."
Jean-Claude Junker, former EU Commission President
How on earth is that an accounting error...that's total baloney..a falsehood..a LIE. No business makes that kind of inventory mistake.....it's like BMW losing several hundred thousand cars off their ledger....IT DOES NOT HAPPEN !
Inflation result ? Well if the stats they use were any more use than a chocolate teapot there may be some reason for concern or are we talking about the market reaction to said stats as if they have any real meaning...i.e. the market acting like yeah thats some great clothes the emperor is wearing !
European shares moved lower during premarket trading on Wednesday as investors digested a fresh batch of corporate earnings and economic data reports.
Allianz, Bayer, and RWE were among the companies to report their results before the open of equity markets across Europe. Meanwhile, Germany's consumer prices along with the United Kingdom's GDP, trade balance and industrial production figures were just released.
The DAX fell 0.48% at 8:02 am CET, while the CAC 40 lost 0.73%. At the same time, the FTSE 100 was down 0.51%.
Breaking the News / JC
Happy hump y’al
Day two with no currency exchange rates data (?)
Gold and Silver still rising, and Fres was up 3.8% when I last looked them up on the Mex - so we could be in for a quick recovery tomorrow - hope so anyway. GLA.
Looks like you cannot rely on the LBMA. I hope there is not a conflict of interest running in the background. I do wonder about the QA/QC process they are running.
best
the gnome
The brokers get paid every time they sell or buy on behalf of a client. The more rash predictions from the analysts the more sells and buys, and the more $ for the brokers and their friends, the analysts. Funny about that.
Yep- every time the markets drop a little people panic lol- the amount of times I've heard "correction" markets will crash" in the last 12 months is incredible- the analysts should be sacked! If you look at the recovery in the markets (bar UK due to BREXIT uncertainty) you can see. The amount of missed opportunities by some analysts is breathtakingly bad- it was always going to be a "K" shaped recovery, the indices are NOT the economy!
Has bounced back sharply. The market is in AF.
Where is the action by regulatots?
What are the auditors up to?
Truly a cess pit.
Should be names shamed and heavy fines.
Thank you Marmot,
This is the shower of crooks that for so long have been complicit partners in the Cartel of precious metals price manipulation.
First it was Covid why they couldn't comply with Basel 3 on time with the rest of Europe and so got the exemption until Jan 2022.
But now it's an accounting error, understandable of course it's easy to mislay 3,300 tonnes of silver!
I made some enquiries on this , see below-
This has been in the public domain for some time and Alison Baker left Centamin a long time before the EDV bid even took place, so she was not part of the defence.
Endeavour will be listing in London at some point soon and they need UK/female directors and Alison is well regarded.
Today the LBMA reported that "accounting errors" caused them to overstate their silver holding by 3,300 tonnes (96,251,100 oz). Bear in mind that to hold off a potential delivery default in March the LBMA calmed the market by announcing that they had added 118 m. oz physical silver. Yet it now appears that all but 22m oz of that addition was imaginary ! So nothing to see here it was just an accounting error ? What does this do for confidence and credibility of the paper PM markets and the regulators ?
In an age of rising inflation for all to see in the US and depreciating fiat currencies investors are now competing hard with industrial buyers for every silver physical ounce. Comex gold deliveries are also running at a record rate as investors seek to protect their capital with hard asset insurance with no counter part risk. Mining shares now braking out of their multi month downtrend reflects rising interest and accumulation.
The stresses in the paper PM markets now seems to be producing cumulative damage to their paper control mechanism. What will be the next catalyst ? Tomorrow we get the latest US inflation data. US momentum and tech stocks are stalling which usually leads to a move into risk off assets like PM's. Is the next Comex delivery and Basel 3 the final straws ? The Basel 3 Net stable Funding ratio requirements starts 27/6/21.
Recent bias makes us believe we can forecast the likely near future from the recent past. What if today's LBMA admission is really telling us that the paper shell game is almost up ?
I sense in the miner SP's a nod to inflation regardless of where the rest of the market goes...because they are not down where i would expect them tto be today...and this is before the herd come their way...
A thought did cross my mind its times like these the reddit WSb boys should go all in on say silver while TPTB and plunge protection boys are ******** their pants fighting fires