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The fastest part of the Australia economy was....THE SWAMP....OTHER WISE CALLED THE AUSTRALIAN CAPITAL....deeply worried when the swamp grows faster than the productive parts of the economy! Great days ahead for gold
Quite so Mr Bond & Drunkinit, Having shares held RBS & Lloyd's because I thought banks could be trusted, after 2008 all I can say is never again, buyer beware! Interesting to look back on this report and then consider what's happening at the present!
Pre 2008 crash https://www.investors.rbs.com/~/media/Files/R/RBS-IR-V2/Archived/13-june-06-trading-statement-transcript.pdf Sir Fred Goodwin: Ok, well thanks everyone for calling in. I think we covered a pretty good range of topics there. If any of you have got any other queries as the day unfolds or as the rest of the week unfolds, feel free to contact us and we’ll try and answer them. It is, I know, it’s a slightly inherently unsatisfactory process to be putting out a small series of words and trying to extrapolate from that, as to what the Group’s performance is but the messages are very clear, strong, we're performing well during the early parts of 2006, all the metrics are fine and we expect to meet expectations, so there’s no hidden messages, surprises or secrets in here. So thanks to everyone for calling in.
PAGE 22 !! Edward Firth: Hi. Just a quick question back on weighted risk assets; just two points; firstly could you just confirm the net weighted risk asset benefit, if you like, from the securitisation programmes in the first half. And I guess, second question, under Basel II what would be the treatment of these, I guess these loan books under Basel II, will they remain off balance sheet or will they come back on? Sir Fred Goodwin: I’ll answer the second part and if Guy knows that, I don’t have a figure in my mind for the first part, I don’t know if he does. Clearly what’s going on at the moment is being in done in full anticipation of Basel II, Ed, so there’s no point in having something go off the balance sheet only to bring it back on again. Edward Firth: Sure. Guy Whittaker: The first part of your question, Ed: we have securitised £4.7 billion worth of mortgages, which are at 50% risk weighted asset and then £3.5 billion of corporate lending book through a synthetic securitisation CLO.
Trust and credibility. Yes that finally went out of the window, for me, after the lack of action by the legal system. After the 2008 fiasco. An open invitation for them to continue with lies and deception to Joe public. Perhaps it may soon change, likely not. Have a good week all.
The other thing that is missing (has been for along time) is trust and credibility by the central bankers and governments. When this disappears then the price of transactions goes up, slows down (more checks and balances), productivity goes down, and social unease goes up. As I have mentioned these are great times for some social upheavals, and they have to be on the way. [I guess Boris is in the bunker at 10 Downer St, drawing up invasion plans for Scotland], .... beware the Picts Boris, [just some friendly advice from the Colonies]
Yes, the inflation figures are misleading at best. We have very low inflation in Australia from the government's opinion, its just that at the moment houses and apartments are selling so quickly (prices going up by 10+% in last 3 months) that a few real estate agents have done away with home opens. Just straight post to the web site, phone starts ringing within 4 hours, offers flow in, price goes up (again). Rental vacancies in Perth below 1%, and Mandurah below again. So inflation, well what can one say. Fine if you don't factor in the cost of putting a roof over ones heads, and finding a rental property in the mean time?!
Gold, silver may bounce back in FY21. Here's a playbook for precious metals in a volatile market.
"This year, gold has given a negative return of about 6 per cent due to expectations of global recovery and strength in dollar and US bond yields," said Anuj Gupta, Vice President - Commodity and Currencies, IIFL Securities. "However, purchases by the central bank and demand for gold ETFs, digital gold and Sovereign Gold Bonds are increasing substantially."
Market watchers said vaccination drive and a strong rebound of global economies along with ultra low rates has diminished the appeal of safer bets.
Profit booking in the equity market is a positive sign for precious metals. "Investment demand and portfolio diversification may increase demand for gold. Investors are betting on gold due to the uncertainty and risk of inflation," Gupta said.
Precious metals are usually treated as a diversification tool in one's portfolio. Analysts suggest investors should accumulate gold and silver in a staggered manner. Precious metals are witnessing inflows from institutional buyers and central banks, claim analysts.
"Prices have almost bottomed out and the fundamentals look strong in the near term," said Katke of Axis Securities.
Thanks Mr Bond , Great interview with Max Keiser and Stacy Herbert (lumber prices add $36000 to the price of a new house in the US in 2021!) The number of jobs created in America declined by 74,000 to 153,439 in August. A horrible number, far below expectations. The jobless rate rose to 4.4 and hourly earnings missed increasing only 2.5 percent year-over-year. Average hours worked also declined, seeing as weekly wages followed suit. Yet, central bank manipulated stocks are surging, on the terrible economic news, in anticipation of more global central bank easing. News and economic data are irrelevant in our “rigged” system as market participants eagerly line up like heroin addicts awaiting another federal reserve fix! http://planetponzi.com/blog/bureau-of-labor-statistics-understanding-the-swamp%E2%80%99s-unemployment-numbers