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Hi Mr Tibbs
Just a suggestion for "other topics" .
There is a general chat board away from the shares chats.
And still over 1m more shares bought than sold.
I'm sure everyone knows this already, but just thought a reminder that by far, the two most effective taxes are Income Tax and Sales Tax, i.e. VAT in the UK.
Many people are employed by the big tech companies and are taxed by PAYE, which is easily collected by the governments where they are employed.
When we buy products or services from Apple, MS or Amazon we pay Sales Tax or VAT in the applicable country, which is also easily collected. Even AirBnB now has to pay a tax in some countries directly on rentals and the net goes to the owner.
Governments earn massive taxes from these companies and the same will occur for a DAO as long as they employ people or sell something to us.
Companies like Facebook may not charge users for their service but they charge the companies that advertise to us and eventually sell to us and again the sales tax is effective and Facebook employs a lot of people in many countries.
When commentators suggest big tech is getting away with paying too little tax, they mean tax on profits, Corporation Tax, but many suggest scrapping Corporation Tax, because it is too ineffective as too easily manipulated
So maybe DAOs won't be such a big problem for Governments.
Anyway, happy to see all my goldies up today.
Hi Drinkinfti,
The article that referred to them as fools was from Money Week.
Excellent and very interesting summing up,I agree, not fools just a bunch of crooks, but they have all the levers as you rightly point out.
As a matter of interest I don't hold any bitcoin or intend to.
Busy day at work today so not checked all day. Very happy to see gold through 1800 and centamin performing very nicely. Hopefully a bit of news monday to help feul the start of an uptrend. Fingers crossed anyway.
I must disagree
Government might be fools but they are in charge. I think Warren Buffet said they have the guns..
And the police and the secret services GCHQ.. etc etc..
In 2008 everyone including HMG were saying the Banks are to blame... Did one banker go to jail?
fred Goodwin got a slap on the wrist and thats it hes still doing nicely!
HMG gives the UK for banks to operate.. they are licenced.. did one bank lose its licence.. maybe a small Chinese one in the USA?.. but other than that.??
"A Tehran court has sentenced to death four people convicted in Iran's biggest-ever banking scandal,......"
DT reported
You'd see some pretty fancy banking after that!!
A banking licence was revoked in Russia.
Banks work for governments!
Bitcoin et al.. the Internet Kill switch there are references on Wijipedia.. and some countries have already used it. So how many bitcoin do you have?
In simplicity A on line movie company offering to rent movies or even buy them and place them in your internet movie bookshlef.
The company went bust and so did all those movies owned by punters. Over simplifying yes.. but without internet access you have no bitcoin available to you or anything on the internet!
Anyone bought gold bullion... HMG now have a record of your buying how much and when if they want to access it to buy you gold back under duress if they deem it so.
Google, Facebook... etc pulling the wool over HMGs eyes... nah. If they are getting away with it.. they have been allowed to do so.. Google n Facebook work for governments supplying info on us..
Not quite sure where starbucks fits in... maybe lots of politicians are invested there.
Maybe buying shares is the only way to be safe.. in an ISa... you can bet if things get tight the benefits of an ISA will be suspended until this little bit of trouble is over..
Reduce the safety net on cash held in banks could be removed too.. your £85K is no longer safe
Government appear to be fools because they want it that way..
''Whoops we've made a mistake.''. ''Lessons must be learned '' '' We apologise unreservedly'' (there's a statement that sounds a little grand but means nothing) ''we are only human''!!
Bitcoin... Pppfffttt.
''“Satoshi Nakamoto” designed bitcoin, one of his key aims was to create a money system that had no central point of failure.'' Did he say that?... I didnt think anyone knew who he/she/ or they were/are?
Hopefully this will continue and we will be back soon to Sept 20 levels of Gold between USD2,000 to USD2100 oz, and Centamin can come back to the £2 a share level.
Thursday, 5/06/2021 15:49
GOLD PRICES leapt to a new 10-week high Thursday afternoon in London, jumping through $1800 per ounce amid fresh East-West "cold war" rhetoric as Western stock markets fell with longer-term bond yields, but inflation forecasts rose after the US Federal Reserve vowed to maintain its zero-rate and record-QE policies.
Staff from the new White House were today due to start trade talks with Beijing's Communist dictatorship for the first time, but "There is a general worry of miscalculation, and of incidents and accidents" over China's continued belligerence towards its neighbors, said Biden's top Asia official.
Beijing today "indefinitely suspended" co-operation talks with Canberra, blaming the Australian government's "cold war mindset" over China's Belt-and-Road Initiative for trade.
Also speaking in London, Washington's top diplomat today said the US will respond to what the G7 meeting of developed nations he attended this week called Russia's "irresponsible and destabilising behaviour" towards Ukraine.
Silver like gold jumped to its highest since late February, breaking through $27 per ounce for the 2nd time this week and adding 5.3% higher from last Friday's finish.
With Covid cases and deaths in India – the world's 2nd most populous nation – meantime setting fresh daily records, news that US President Joe Biden supports the World Trade Organization's call to suspend vaccine patents to reduce costs for poorer countries saw pharma and biotech share prices sink.
Longer-term borrowing costs fell once more, with 10-year US bond yields now erasing one-fourth of 2021's previous spike to the highest since the eve of the Covid Crisis early last year, dropping to 1.56%.
Inflation-protected bond yields fell faster, down to -0.93% on 10-year TIPS.
Together that put 10-year breakeven rates –the implied pace of inflation now forecast by bond-market trading – up at 2.49% per annum, the highest such "forecast" since April 2013.
US inflation has since averaged 1.8% on the Federal Reserve's preferred PCE measure.
Ooops my ????? Were supposed be be clap emojis lol
Well done all you holders and positive traders- been a while since a lovely day ??????
Price is now touching my resistance line on the chart.
If it break it, 136p is in target.
could well do 116p by close
You know what would be a nice cherry on the cake a nice positive rns, how about it Mr Horgan ?
correction raise rates
It's like they talk about rates like pilots talk about aborting takeoff before V1 takeoff velocity, but the point where these charlatans have taken us they cannot abort(lower rates) such is the point we're at because of their past actions. The Yellen creature with her talk of rate rises seemed to forget she's not Fed chairman any longer, you do that in a regular company and you will get chewed out if you're lucky and possibly fired for stepping beyond your role mandate. Powell looks like a right lame ass i bet he didn't even call her out
Perfect storm for gold. Check mate.
Interest rates are not going anywhere i wish they were just to scare the bejesus out of all those mugs who have dived in of late to the UK housing ponzi scheme but i reckon rates will more likely fall than rise. These bluffers are out of runway they can;t raise rates
Gold is the haven for fear of inflation and inflation. IF and its a big IF , interest rates rise to combat inflation then other investments benefit and gold prices fall , for example banks or provider of staple products like Unilever. Imo.
Thanks Thunder. Very good point. I agree that they'll let inflation run for a while before increasing interest rates since they need to get the economies back up and running and it may still be a while before they increase rates to prevent an overheated economy
Yes Ian B we do need gold to hold and close above $1800 but as said here last Fri, when for the first time ever, that I can remember, every wall st gold trader polled on the KITCO weekly survey said gold would fall this week, that was for me a very strong buy signal and this week should end up. Cey has also resisted falling lately unlike some other miners, it is looking stronger, the gap with Hoc for instance has halved, and we have hit the Cey mining nadir, so all in all I am as hopeful as I have been in the last lousy 6 months
Prince_3k - you need to look at the differential aka real interest rate. If they hold interest rates and let inflation run a while you have the perfect bull case for gold. They can't raise rates as it would bankrupt so many companies, they will squeeze the citizens with inflation instead.
1807 and rising atm, needs to hold above 1800 resistance.
120 close!!!!
Finally over $1800/oz. Hopefully we stay above this benchmark moving forward. Any views on the affect of Gold if inflation picks up because I'm slightly confused? If inflation increases, I expect them to increase interest rates which is negative towards gold. On the other hand if inflation picks up wouldn't that make gold more valuable since the USD would be worth less? Views/ anyone with a better thought/idea are more than welcome :)
GOLD WILL FLY NOWW!!!
BOOOOM!!!