Adam Davidson, CEO of Trident Royalties, discusses offtake milestones and catalysts to boost FY24. Watch the video here.
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Really interesting post Gnome. I'm learning fast about all the skullduggery!!
DaggerMal
Great post Mr Gnome!
So true, could well be the UK Brexit Team with of course Farage!
Outlook
NFT craze
Jack Dorsey is the latest entrepreneur to jump on the non-fungible token (NFT) bandwagon, listing his first ever tweet for sale. "Just setting up my twttr," reads the post from March 2006. The highest offer is currently from Sina Estavi, CEO of Bridge Oracle, for $2.5M. While the buyer will receive a certificate - digitally signed and verified by Dorsey - the post will remain publicly available on Twitter (NYSE:TWTR) even after it has been auctioned off.
What is an NFT? It's a type of cryptocurrency - run on Ethereum blockchain - that's used to represent a unique asset and is valued as a collectors' item. They are usually art, but can also be a meme, GIFs, songs, videos or items in video games. NFTs work like other speculative assets, where buyers hope that their value goes up and they can be sold for a profit. Investors, however, caution the market could represent a price bubble.
Bigger picture: A video by a digital artist who goes by "Beeple" recently sold for $6.6M and a crypto art rendition of the Nyan Cat meme sold for $590K. Even musicians like Grimes, 3LAU and the Kings of Leon have dabbled in the sector. That's helped NFT marketplace OpenSea grow its monthly sales to $863M in February, while auction house Christie's just launched its first ever sale of digital art.
NFTs seem to be a natural extension of Jack Dorsey's advocacy of cryptocurrencies. He's been displaying "#bitcoin" in his Twitter bio for some time, while his digital payments company Square (NYSE:SQ) scooped up another 3,318 Bitcoins (BTC-USD) in late February (it purchased 4,709 in October 2020). Square's Cash App is also a major venue for retail investors to purchase crypto, while Dorsey has invested in Lightning Labs, a second layer on the Bitcoin network
Wall Street Breakfast Markets
Over the weekend, the Senate passed a $1.9T coronavirus relief bill that contains $1,400 stimulus checks for many Americans, $300/week more in jobless benefits, as well as aid for state and local governments. The measure is expected to pass in the Democratic-held House on Tuesday. It would then be sent to President Biden's desk before a March 14 deadline to renew unemployment aid programs.
"With the Senate's passage, we expect growth momentum to accelerate and forecast global GDP growth will surge to a 7.5% annualized rate in the middle quarters of the year," JPMorgan wrote in a research note. "Every $1T of fiscal stimulus adds around $4-$5 to EPS, implying 6-7% upside for the remainder of the year."
Outlook: This time around, investors are getting worried about a sharp acceleration in inflation, with the 10-year Treasury yield rising another 5 bps overnight to 1.6%. Contrast that with a stock market where bulls were rooting for another big stimulus package during the push-and-pull negotiations at the end of the Trump administration. In fact, stock futures are pointing to another fall to start the week, particularly in the tech space, where high-growth valuations have been underpinned by low rates: Dow -0.3%; S&P 500 -0.8%; Nasdaq -1.9%
Thought bubble: While many are concerned about inflationary effects, the Fed has been vocal that it has no immediate plans to tighten monetary policy. In fact, its main worry doesn't appear to be inflation, but rather the damage done to the labor market by the pandemic. The last time the U.S. had a bad bout of sustained price increases was in the 1970s, when its economy was more insulated from the world, it depended on foreign oil and ended the Bretton Woods system that rendered the dollar a fiat currency.
That picture looks much different today, and since the 2008 financial crisis, the U.S. economy has even struggled to achieve its inflation goals
Great post Mr Gnome!
So true, could well be the UK Brexit Team with of course Farage!
So if you watched the link, which is a Monty Pythin classi "the Upper class twit of the Year", please note the ending, which could be just how the Central Bankers end up. Summarised below
There is a lot of tasks the twits must try to accomplish...
...
...
Taking The Bras Off The Debutantes
The Twits must remove a bra from a mannequin representing a debutante while standing in front of it. It is claimed to be the most difficult obstacle by the commentator: many of the Twits even dismember the mannequins in their attempts to remove the bras, and a few still have bras (often with torsos still dangling from them) stuck to their hands as they go on to the final event:
Shooting Themselves
Finally, the Twits approach a table with five revolvers on it. The winner is the first Twit to shoot himself.
So its going to be interesting to see if the Central Bankers do end up shooting themselves....or which ones do, and which don't
Good luck to us all,
Jolly good laugh some of it, sad that it could have such negative ramifications for economies ...and people's lives
best
the Gnome
Investors use the US 10-year bond yield as the benchmark for pricing all financial assets ( shares and property etc). But what happens when they suspect it’s a ‘fake’ rate (where is Donald when you need him?)? Recap: the US 10-year bond is viewed as the global risk-free asset....its yield is considered the benchmark when it comes to setting the price of all other financial assets...hence there’s growing pressure on the US Federal Reserve to promise to keep a lid on long-term bond yields...the Fed could follow the lead of the Reserve Bank of Australia (grief?) in embracing yield curve control. The Australian central bank has set a target of 0.1 per cent for three-year government bonds, pledging to buy as many government bonds as necessary to achieve this target. Well after all Australia has led the world and managed the pandemic better than most (despite being an island adjacent the bus stop at the end of the world)?
BUT the big global banks have clearly demonstrated that they have more than enough fire-power to push bond yields to whatever level they choose...the question is one of credibility, the risk is that bond yields lose their credibility as a benchmark if central banks intervene too aggressively
the chief US equity strategist at Morgan Stanley, wrote .... “the equity market now knows the 10-year yield is a ‘fake’ rate that either can’t or won’t be defended.”
So those that think gold is manipulated, as is forex, etc, spare a thought for the 10 year bond rate. There is a lot of fakery in the financial structure, and the people who control the financial universe hopefully can get the house in order..?
https://www.youtube.com/watch?v=zGxSM5y7Pfs
The house of cards and paper teeters...
best of luck all
the Gnome.