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Yes Tibbs, ha ha, any excuse.
But the pressure was intense.
2008 played out again, blackmail.
To big to fail ? Again !
Simply politics, money is power.
What a marvelous "Get out of jail free" card Covid has provided for the politicians and the corrupt markets !
"In the meantime, the CMB is stepping up negotiations with the Ministry of Finance to pay off the state's debt to mining companies, the total amount of which is estimated at more than 100 billion CFA francs. "With more than 40 billion CFA francs of VAT due to the delay in reimbursement, the situation remains critical," assures the president of the chamber of mines."
"the country now has 17 industrial gold mines in operation..."
https://www.jeuneafrique.com/1131013/economie/burkina-faso-les-promesses-de-lor/
I suppose it was to be expected.
Playing for time.
Again.
Didn't it get pushed back again recently, sure I read that...........found the link below googling which I thought was interesting but doesn't confirm the push back from a brief glance
https://www.bankingsupervision.europa.eu/press/speeches/date/2021/html/ssm.sp210503~1672b8b1f0.en.html
I think the important thing to consider is the $40 Billion will happen if as promised, in one month.
Should that be repeated by others then the $ value has to drop, or the US stops printing and buying it's own Bonds.
Either way good for Gold , medium to long term. What do you all think, or am I missing something.
Hi Mr Tibbles
Yes, it's a farce. That's why they drive around in Ferraris and I get the clapped-out Golf.
Come the revolution, Brother.
Mr Tibbles
He is one of my favourite authors. Actually, I bought 'The Jacaranda Tree' in London this week, which surprised me since his books aren't readily available on the shelf (except the Buds of May series).
He stuck to the traditional 'long sentence' view of prose - unlike Orwell and Greene who advocated short sentences, which predominate today.
'The Happy Countryman' and 'In the Heart of the Country' are so beautifully written - they'll calm you down after you've read about the latest antics of our beloved leaders. Something tells me you'll like reading about the countryside.
There you go, you've led me astray again.
Hi Red Sparrow,
Yes gap filling, another integral part of keeping the market fluid or in layman terms of "Churning the shares!"all part part of the market manipulation con that provides commission and wealth to so many stock market parasites!
Gaps are spaces on a chart that emerge when the price of the financial instrument significantly changes with little or no trading in-between.
https://www.investopedia.com/articles/trading/05/playinggaps.asp
https://therobusttrader.com/are-gaps-always-filled-statistics-included-what-does-fill-the-gap-mean/
Hi Red Sparrow,
Yes I enjoyed "The Darling Buds of May" TV Series, H.E Bates was from this area , he left a legacy which sponsored an annual short story competition.
You may be aware though?
Rebess what if.
China will try more diplomacy ,because if they are pressurized much more, then it will be akin to all out hostilities. Trade wise.
I do not see who would benefit finally other than other than weapons suppliers and providers of funds for such .
I hope it does not come to that, for all our sakes.
Hello Mr Tibbles
I was really only quoting that famous phrase from HE Bates - I think from the book 'When the Green Woods Laugh'.
Of course, he wrote those books in the 1950s - things were a bit different then.
I try to keep out of the way of farmers in general - they have shotguns!
US Jobs data , ideal opportunity to spank the gold price in the run up to up to Basel 3!
Al commodities (99%) taking a hit today. - Like an orchestra following the conductor, with the exception of oil and lumber they have all dropped at a stroke.
Red Sparrow & Mr Bond your are both right about so many farmers, those that always vote Tory because they regard themselves as the "Landed Gentry", who know what's best for the land and us!
They may not get their subsidies from Brussels anymore, but Boris & Gove will see that them all right!
Couple of years ago two farmers who use the local got caught, not for the first time when they were dipped using red diesel/wheat drier fuel in their Range Rovers, they both got off with paying an instant fine/estimate of lost excise which amounted to about to about £240-£260.
One of them blamed a Rumanian farm worker for filling the Range Rover up from the wrong tank, unfortunately the lad had since gone back home!
Probably won't be the last time this mistake occurs.
Having said that their are some very decent smaller scale farmers who are changing back to more traditional environmentally friendly and healthy farming methods,they work very hard and genuinely care about the countryside and their livestock,so it would be unfair to regard farmers as all being the same, good and bad as in all walks of life!
Oh sorry off topic!
Palladium is at $ 2,824 as of now, careful with the stats
The prices of precious metals registered major losses on Thursday following better-than-expected economic data released ahead of today's session on Wall Street.
The service sector activity in the United States registered record growth last month, while initial jobless claims went further down to 385,000 and private payrolls rose by 978,000. Meanwhile, Patrick Harker from Federal Reserve estimated US inflation will stay around 3% this year as central bank officials continued to hint taper talks could begin soon.
Spot gold plunged 2.14% to $1,867.91 per ounce at 9:56 am ET, while silver sank 3.56% to $27.15 an ounce. Platinum fell 3.27% to $1,156.06 and palladium dropped 3.30% to $1,155.10.
Breaking the News / ND
Mr Bond - If China follows suit or even threatens, what then I wonder?
Unwinding hard???, its currently sitting at $1,872. It drops a few dollars and people sell, hardly a collapse in the price, anyone actually think that nearly 250 trillion, yes trillion dollars, of world debt is going to suddenly vanish??.
No, I don't think it will. If the gap that Tony has mentioned gets filled, that will be a big enough task in itself. It may not even achieve that.
OK. I think it did get to 107.8p at one stage - so that gap at 107.4p may not get filled.
Gold unwinding hard. 106p by tomorrow
Correct 107.4 to 108.3p. Centamin sometimes ignores gaps below 0.5p so it just might get closed.
https://on.rt.com/b9j5
It's likely others are going to follow.
Interesting time.
This seems to be coming to a head faster than I thought.
There are likely repercussion that will affect everyone in some way.
Difficult to see a way out of this.
What next ?