Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video 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.
I think someone messed up. That's gonna cost them... I messed up in a similar week last week and as soon as I pressed sell I knew I typed the wrong price. I went all hot and felt sick for a minute until InteractiveInvester ii.co.uk showed it sold at best price... It shows in the trades tab on this site it was an ordinary sell and not an automated sell...?
I've been re-reading my own post trying to spot anything wrong with it. There are two things I can spot. Firstly modern central banks might be more competent and willing to knock inflation on the head early. So no 1970s style runaway.
Secondly it is possible that cryptos are not as unstable and fraud prone as I think (we simply do not have the data to judge this, cryptos are so new). We do not know if there is a direct inverse relationship between gold and crytos. I would say there probably is, but no data set can confirm this. For the moment I am HOLD on CEY and a 23% loss. Sadly I already have too much in this one sector; so I can not even consider more investment on any gold miner!. If my original post is correct then this is a BUY moment!. A risky one though!!.
no idea scary but seems we on another leg down now
I just posted the same. Typo???
wow big wick down to 69.60 on my trading veiw chart not on my 212 chart tho ??
Anyone know what just happened with the SP. TradingView just showed a order at 69p with a volume of about 100k. I'm wondering if someone just really messed up on their sell order and put in price of 69p instead of 96p... The massive candle has really messed up my TradingView chart though
The Crypto Wallet Compensation Scheme....love it. Maybe get Andrew Pardey to run it?
mrtibbles,
I think we could be on to something here. The Crypto Wallet Compensation Scheme insures any losses even on Dodgecoin and that rocket one set up by some exotic dancers. All claims please contact WorldQuant
Hi Zambianminer,
As Auson already poste the banks have some compensation schemes for loss due to fraud
https://www.financial-ombudsman.org.uk/consumers/expect/compensation
zambianminer,
Banks will most likely recompensate you if your account is hacked. There is also the FSCS guarantee and FCA regulation and the banking ombudsmen if your not fairly dealt with.
What guarantees will the Crypto exchanges offer you ? All power to you that your making money on Crypto but lets just keep it real.
Zambianminer, banks may not be 100% safe, but they are regulated and do perform checks. A friend was convinced to put money in an investment that ended up being a scam. His bank stopped the transfer before it happened, stopping him from losing a big portion of his savings. Things would have ended very differently if he was transfering from a crypto wallet
That may be the case but isn't our banking system open to criminal gangs?
Even so it doesn't inspire confidence and is bad advertising for the crypto ponzi scheme..
Good morning mrtibbles,
Whilst it's plausible for someone to gain control of someone's Bitcoin account, I think gaining control of a wallet is a different proposition altogether. These are stored offline and I also believe that 75% of Bitcoin is currently held offline.
Shares on the major stock market indexes in Europe traded higher in the premarket on Wednesday after the major benchmarks on Wall Street ended the previous day's session with record highs.
On the COVID front, the number of deaths attributed to COVID-19 reached a four-and-a-half-month high, while Bavarian Prime Minister Markus Soeder dismissed the idea of introducing another lockdown in the country.
The CAC 40 gained 0.1% at 7:27 am CET. A minute later, the FTSE 100 advanced by 0.18%. At 7:29 am CET, the DAX was up by 0.07%.
The euro was flat versus the dollar, selling for 1.17205 at 7:33 am CET, while the pound slid 0.07% compared to the greenback, to go for 1.38324 at the same time.
Breaking the News / BU
https://www.bbc.co.uk/news/business-58163917
Hackers have stolen some $600m (£433m) in what appears to be one the largest cryptocurrency heists ever!
Blockchain site Poly Network said hackers had exploited a vulnerability in its system and taken thousands of digital tokens such as Ether.
In a letter posted on Twitter, it urged the thieves to "establish communication and return the hacked assets".
In scale, the hack is on par with huge recent breaches at exchanges such as Coincheck and Mt Gox.
In its letter Poly Network said: "The amount of money you have hacked is one of the biggest in defi [decentralised finance] history.
"Law enforcement in any country will regard this as a major economic crime and you will be pursued.
"The money you stole are [sic] from tens of thousands of crypto community members, hence the people."
'We lost our life savings in a cryptocurrency scam'
EU plans to make Bitcoin transfers more traceable
Poly Network said a preliminary investigation found a hacker exploited a "vulnerability between contract calls".
It urged various exchanges to block deposits of the coins, after millions of dollars in tokens were transferred to separate cryptocurrency wallets.
About $267m of Ether currency has been taken, $252m of Binance coins and roughly $85 million in USDC tokens.
We were discussing the above at the local and one of the chaps said he had cashed in all his Bitcoin because he had heard a rumour that a well organised international cyber gang have found some way to get control of peoples Bitcoin wallets/accounts and then make them pay a fee to get their wallets released.
I really don't know where he heard the rumour or even if its feasible for a criminal organisation to steal a persons crypto wallet of Bitcoin's?
Intrigued somehwat at the endess debates on why people invest in gold. INflation hedge, uncertainty, ...Billy Brown says so...etc
BUt you cannot talk of gold and ignore critical components of human psychology, and ideas that are entrenched in human psyche.
IN 2019, two large tombs were discovered and excavated at the site of the ancient city of Pylos in southern Greece. Inside the 3,500-year-old tombs, archaeologists found remains of gold jewellery and thousands of pieces of gold foil, remnants of the sheets of gold that once lined the tomb floors. Imagine getting buried with a pile of US$ or GBP?
The ancient Egyptians considered it a symbol of eternity and referred to it as “flesh of the gods”. Consider the tomb of the boy-king Tutankhamun. He was enshrined in three gold coffins and his finery included a gold funerary mask. Again, would a stash of US$ do the trick?
Psychiatrist Dale Archer, wrote in A Psychology Lesson: Chinese citizens have always bought and held onto as much physical gold as they could afford, because it’s ingrained after generations of instability. Forced to flee their villages and homes by famine, war and constant government repression, gold was the only thing they could take with them.
In The Great Partition: The Making of India and ****stan, a Sikh woman Taran relates how her mother took all the gold and tied it in handkerchiefs and distributed it among different family members for safekeeping. We did not know where each of us would end up – this gold was our security.
Warren Buffet once said, “Gold is a way of going long on fear”
It seems a lot of Instos and people are going long on gold, July 2021 ETF buying
https://www.gold.org/goldhub/data/global-gold-backed-etf-holdings-and-flows?
and the central banks, more going in than comining out
https://www.gold.org/goldhub/data/monthly-central-bank-statistics?
Fear, uncertainty, instability are here to stay. Loss of faith in governments, corrupt institutions, laws that apply to some etc etc...
Now we have the pandemic, and we have the awkward collusion of elected poiliticians who know not what, being led by academic health officers whio should know and epxlain things a lot better
good luck, CEY is a good buy for those with along game bias. The short game is all over the place,
best
the gnome.
Anecdotal evidence to my point that too few in the PM investing world are enthusiastic about Centamin.
A shareholder asks a gold mining guru about Centamin on Twitter :
'Checked ngt on Centamin?'
'I read a bit about them [Centamin] when they were courted by Endeavor. Think the company is undervalued. Egypt seems to be moving in a much more mine-friendly direction.'
'Yes, agree. Is quite skewed in it but collects dividends for so long. Everything else being equal, new offers should come if it does not turn around soon. Debt-free and have well solved the problems they got.'
Bottom Line: If even a guru can't be bothered to invest in what they perceive to be an undervalued company it's time to 'fast track' West Africa. And by fast track I mean finish what was started a decade ago.
correct methinks apart from perhaps the conclusion. Gold price increases with inflation in long run so actually stay stable in real terms. If you hold the metal in theory you stay in the same place and do slightly worse than inflation linked bonds. If in miners their costs rise along with gold. However psychologically they become more attractive than some other shares, and hopefully gold rises faster than costs. Centamin has certainly been hit in the last year far more by rising costs than falling output or gold price imho. So the question becomes will the solar plant insulate us to some extent from oil inflation, will wages machinery etc rise less fast than inflation and gold. Or will gold take off? Looking back over 50 years can be a bit random but lets hope so
The bad guys always seem to come out on top Rebess!
Just like our George Eustice environment minister (arrogant ****e)and DEFRA wanting to put down Geronimo the Alpaca based on a test TB used for a different species just because they have the power to do so!
Hi Bubbyoakbrook,
I think you have hit a few nails squarely on the head!
Certainly lots's going on and ahead of schedule at Centamin.!
Ladies and Gentleman please read my thoughts below and correct any mistakes and make constructive remarks. Please be objective and nice!.
The $M2 money supply is going through the roof. This must cause inflation around two years after it first started to expand. So far the inflation is not extreme so far because of the time lag and the exceptionally low “V” [velocity of money].
Low “V” is caused by low inflation expectations. Bottlenecks in the supply chains are causing inflation. This will naturally push up the “V” figure?.
Am I right so far?.
The whole world is absolutely sloshed in broad money because of QE.
Gold prices closely correlate with inflation.
Am I still on track?.
Mr Biden is starting a “Barber” boom in the states. So very soon the USA will overheat and inflation will sharply ignite. At least in the $ area.
Is this correct?.
Central bank independence will slightly mitigate the inflationary disaster more than was the case in the 1970s?.
Central banks simply can not afford to rise interest rates because of high levels of national debt everywhere?, [not just in the states]?.
Still correct?.
Crypto currencies have slightly stolen gold’s role as an inflation hedge. However they are very unstable and are perhaps facing taxes and other obstructions from legislators because many governments are not keen on them?. They do not want privatised control of the money supply?.
Still correct?.
Cryptos are potentially vulnerable to hackers?, might even be wiped out completely by hostile cyber actions?. They are very unstable anyway?.
Thus gold will shine in an inflationary world after the cryptos crash?.
CEY has production cost and output issues?, however rising gold prices would still make the company very profitable?.
CEY is cash rich and the dividend is thus safe and secure.
CEY is still a good bet and might even be a BUY at the moment?.
Constructive remarks please!, is any of the above correct?, missing anything important?.
Hi Rocket V1
Agree, if Governments and Banks have the arbitrary-power to set prices, what is the point of having a market to establish price-discovery? - However, if there is a market it should be illegal to interfere with it. - This is where the 'Regulator' comes in or rather doesn't. - It's only the fact that the Regulator', the Referee if you like, is part of the scam, that allows it all to happen. - So, what can be done? - The answer is nothing. - The bad guys have won.
Impacting metals remain under pressure since this data, CPI out tomorrow, plus Jackson Hole coming up soon- tapering... when, how much, timing rumours all over the place.
Tornado: That is correct regarding debt reduction but dont agree that the value of gold should be set by Governments and Banks. How can you explain the value of a crypto coin which is basically an electronic holding and are worth nothing realistically. I`m sure Government would love to control cryptos through taxation but at present, they are not able to. Physical gold should be free from manipulation price setting and it could be worth $10,000 p/oz or $100 p/oz. Supply and demand would set the true prices at what level people will buy. Gold will always be sought after.