Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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Of course “k” is not fair- that’s why it’s a “k”… and that article is old- he’s already got a second term since that was written
Interesting views regarding increasing inequality in the US,
Dr. Tim Liao's most recent essay for the general public is now published. The essay it titled "The Inequality of America’s “K-Shaped” Recovery."
https://sociology.illinois.edu/spotlight/faculty/inequality-americas-k-shaped-recovery-dr-tim-liao
Powell is not the man for the moment. For starters, he supported former president Donald Trump’s deregulatory agenda, risking the world’s financial health. And even now, he is reluctant to address climate risk, even though other central bankers around the world are declaring it the defining issue of the coming decades. Powell would say that climate issues are not included in the Fed’s mandate, but he would be wrong. Part of the Fed’s mandate is to ensure financial stability, and there is no greater threat to that than climate change.
https://www.theguardian.com/business/2021/nov/10/why-the-federal-reserve-chair-jerome-powell-must-go
We don’t know that for sure- they changed from published on 1st Dec which implied an RNS and 1st , to “presented” on the 8th and a webcast, which implies no RNS- what was also confusing was time to get questions in… so who knows, maybe RNS at 07:00 just before, or was get questions on, just the same questions we’ve had for ages and already sent in…
This “superfluous nuance” has caused a ~15% variance in CEY SP in past month, you’ve high expectations on believing a higher swing which of course could happen, or not happen.
In any case, not long to go… and will be a fun morning for sure, expectations are high- will be button ready, dependant on what is officially released.
Halfpenny I think the gold price trajectory is even more important. If gold were to halve we’d be sunk. If gold to double profits would be hugely higher whatever the rns, Even a 10% gold rise equates to 30% more ounces or a much longer mine life, and a 30%ish share rise Which is unlikely from the rns and a 10% fall similar. Of course if the rns said they were getting costs under control and would be back below $1000 as they were that would make a very big difference as has been the main reducer in profit. Just my sums, all best to all
Posts above are superfluous nuances as regards the main driver for centamin which will be the RNS release next week.
The FED make it clear when their next meetings are, so this is answered, these are change points. It's unrealistic to expect definitive dates on rates and will always be speculated- the pandemic makes this more necessary (although I think this is overdone). The volatility is bound to be there with there with markets seen as toppy for a while now and with the pandemic- space to adapt to this is essential and fixed amounts on rates, will cause more turmoil and who could say what they should be and exactly when- it's fluid. As I said last year, it's a "K" shaped recovery, the markets are not the economy, the markets have been as toppy for the last year and continue to rise. In the "k" shape, big listed companies, have increased market share and mop up and fill the gaps left or customers and those with cash to invest and spend.
I continue with balance.
The rate of change, communication of change, will forever accelerate, flex is essential ... the nature of the beast.
Mr T. That was a good reference to Norman Lamont , I remember it well. I bought a 3 bed house in Greenwich for £81,500 I wonder how much it is now
I sold it in 1996 for £105k
Those were the days
Quite so Candid,
I recall it when when our mortgage rate went up on each news announcement of that morning!
http://news.bbc.co.uk/onthisday/hi/dates/stories/september/16/newsid_2519000/2519013.stm
Admittedly house prises were much lower then and so was the rateable value and insurance costs, although wages were also less and most mortgages were only granted based on the man's salary as it was assumed that although the wife might be eaning more she would be giving up work to have babies!
But as we predicted at the time when interest rates fell well into single figures the greedy estate agents and developers took advantage and banged up the prices of overpriced chucked up little boxes (called starter homes) that many youngster struggle to buy even at present interest rate without the help of their parents.
The ordinary folk always get screwed by their governments and in favour of those from the right public schools that run the system.
The markets are just the same and most likely there will be a crash before too long and who will lose the most and then pay the bill, the ordinary folk!
I think Powell should have the confidence to issue a clear statement of policy.,at present he does not inspire confidence in anything other shear lack of decisiveness.
Is Powell in charge of the US economy or not, if so he should give clear direction, at present Powell is indecisive and lets events lead him rather than he dictating them, his dithering causes volatility.
All this procrastination is just bullsh*t, lets have a clear decision that interest rates will rise on day whatever, or they will fall, or they will remain where they are until a defined date for review, lets have a firm commitment to a decisive policy whichever way, no more might be ,might not, perhaps, or when if what, lets see.
The pandemics here and likely to be hare for the foreseeable future, stop using it as an excuse for failed home and international policy and instead announce clear and decisive policies to deal with it. not just in America, but by helping all the other poorer counties irrelevant of of their political or religious beliefs.
Powell has really told us nothing other than there may be a decision one way or the other anytime soon, possibly and the markets has chosen to do its usual knee jerk one way or the the other or whichever way as long as it shuffles the indices up or down.
I wonder if this bloke Powell chair of the FED or chair of the mad hatters tea party?
If interest rates rise significantly ( I can remember when they hit 15 % 30 years ago ..).then it wouldn't be inconceivable for the USA and others ( including UK ) to default on their debts .
They all need super high inflation to reduce their real value of debt , so the Fed better be careful about what it wishes for .
It’s not confusing Mr T, it’s adapting… again I ask you each time… what would you have done? Last time he said nothing and you complained, this time he said something and you complained… he can only work within certain boundaries, you can see the impact his statements have- I’m not not defending him, it’s just my expectations of what he will or won’t say are what I consider as realistic
It’s matters not to me Tornadotony- it’s the game we’re in, and creates volatility that makes us money.
This is why I trade PMs like this around key data points- primarily US as drives other markets and metals like it or not. Holding gold miners like this has not proved productive in recent times, relative to other investments , I see you do same by trading - good luck and tomorrow could be good if a miss on NFP or the reverse.
I tend to wait for data points/markers etc where I see opportunities.
Without the FED something else would replace it to create volatility.
History has shown us that every system and leader is replaced with another that some like the leader and system at some point, and some don’t, and some always moan about how the systems and leaders are always against them and manipulated/fixed/corrupt - I simply play within whatever is there in place.
Hi Tornadotony,
An excellent summing and appraisal of the confusing Powell policy for supposedly managing the worlds biggest economy.
our instead of are in line 3
has instead of as in line 5 para 2.
Steve
Lost track of J Powell and his BS. One minute the FED is independent and the next its a lap dog to the politicians with no independence at all. One minute it is a service to the public and then we discover its a self serving cabal. The stock market feigns FED superiority when it suits and says we will do it are way regardless the next when they feel the FED is not listening to wall street over its main street rival.
It comes down to one point of view that we each hold and it may be different amongst us and that is whether you want to hold gold or a proxy such as gold miner equity stock, do you want to hold dollar bills or finally would you hold property, bitcoin or anything of value that is not FIAT and nor is it ultimately controlled by the FED and its masters. Of course many follow the piper drumming up the SP500 above mount Everest levels. Its an absolute joke if the FED thinks it as any kind of handle on inflation. Its like the Wizard of Oz and the phoney operator behind the curtain pulling different levers and no they can't get you back home just like they have a fat chance of stuffing inflation back into the bottle. All the best Tony
Slightly out of date but remains true for now as from earlier today… Omicron has improved throughout the day as I’ve posted earlier…
“Gold prices eased on Thursday as investors bet the U.S. Federal Reserve would taper its bond purchases faster to tackle surging inflation despite economic recovery concerns amid the new Omicron coronavirus variant.
Spot gold fell 0.3% to $1,777.87 per ounce by 0639 GMT. U.S. gold futures dropped 0.3% to $1,778.10.
In congressional testimony on Wednesday, Fed Chair Jerome Powell said the central bank needs to be ready to respond to the possibility that inflation may not recede in the second half of 2022.
Powell also said the Fed would consider a faster tapering of its bond purchases at its upcoming two-day meeting due to start on Dec. 14.
Gold is often considered an inflation hedge, though reduced stimulus and interest rate hikes push government bond yields up, translating into a higher opportunity cost for holding bullion, which pays no interest.
“The more hawkish shift in rhetoric from Powell could overshadow for gold any bullish impulse from the Omicron virus until at least Friday’s non-farm payrolls report” said Stephen Innes, managing partner at SPI Asset Management.
The U.S. non-farm payrolls report could influence the Fed’s rate stance. The ADP National employment report showed on Wednesday private payrolls increased by 534,000 jobs in November.
Spot gold still targets $1,758 per ounce, as it has deeply pierced below a support at $1,780 and broken a rising trendline, according to Reuters technical analyst Wang Tao.
Am waiting to decide at 13:30 on tomorrow NFP- excessive could bash gold down further in the short term. Current hawkish FED from Tuesday dialogue maintains pressure on the yellow stuff
I bought at 92.78 and around 93.5p but it was usual top ups. God knows what they are doing but I am hoping today is the seasonal bottom.
So did you super load up at 93p as you mentioned in an earlier thread or did your anxieties get the better of you?
92.X is a higher low in the daily chart. The monthly slow stochastics is just above zero. This looks like another bombed out gold miner stock.