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and that sounds like feudalism to me
Mr T isn't this just an extension of what they have been doing on an individual basis ? Ex pat Yanks can never escape tax filing in the US unless they renunce the citizenship. There was an article i read some time back an ex pat in switzerland some 30 odd years finally relinquishing his citizenship and they didn;t make it easy and it cost circa 10k USD. Old Max Keiser once commented they don;t really need tax dollars because they are all dollars that they print...i don;t think it's that simple they want your debt note to get the dollars and then they get the dollars back and they still have your debt note....
In order to diversify so i don;t have all eggs in CEY. What are the best silver miners to invest in any thoughts ? As far as FTSE goes There is Hoc which I've been in multiple times...seems there's some political trouble brewing on their patch though ? And Poly but i think that's it on the FTSE ? No issue buying on other exchanges so tips there welcome
120 by close of this week for sure!!!
Gold will fly in May!!
Fair comments Mr ,Gnome, Spindler & Mr Bond,
If you listen to my post BBC Business Matters from the World Service Biden's proposals on World Wide corporate tax rate seem quite reasonable , it's interesting to note that there is some consensus of opinion between the EU,Russia,China & now the US .
Of course dependent on if the UK are in favour this may have tax implications for Centamin as they are based in Jersey.
It seems that if Google is paying 12.5% tax in Dublin then under Biden's proposals then the Irish government would be required to collect the difference 8.5%from from Google on behalf of the US.
It would be interesting to learn of the justification in awarding Youssef so many free share's?
Possibly some special award for exemplary performance in something or other?
Good news about the Solar plant though!
Considering both Chinese and Japanese markets were both closed last night ,Gold has held on well.
GLA
Interesting indeed. Proper boomer mentality. Major pullbacks bound to happen at some point to cool off but even a tiny bit of research in that space and deploying a 2-5% of one's portfolio a year ago (or even beginning of the yr ffs) would have given a few 100% return which could then easily have been trimmed and re-balanced back to under 5%. Nothing wrong in diversifying after some research and due diligence. Happy investing gents and GL to us all.
it would be lovely to know what Hogan invests in that he thinks will make more than Cey and we could too
I have no problem with Martin Horgan being well compensated provided he delivers.
Pay peanuts and we will have monkeys ......
Very few real audits on any aspect of the financial system lol
Good luck all!
The gnome
Hi Spindler, been thinking the same for years.
Probably why no Audit and a good reason for them not to have a proper outside Audit.
Now or in the future.
My thought of the day:
Things are starting to get interesting around Gold and China and Russia circumnavigating the dollar. If the USA was a person they would be psychopathic. Ft Knox has not been audited in how long ?(not that i would trust an audit) I would not be in the least surprised if the US has virtually no gold at all. The so called elite, power brokers, politicians, snakeoil salesmen et al. Have quite happily sold the majority of the population down the river long long ago by selling off the manufacturing prowess so whad ya reckon the gold has been rehypothecated over and over again and eventually physically gone ? So they will in the end try and use their military to stave off the collapse of empire...good luck with that..it;s over for the US and in this century too...the next thing to watch is the elite moving out of the US ..those first movers to florida and texas are just the tip of the monied classes already making themselves flexible. Saw Intel are now behind in not only production of chips but also technology because they didn;t invest they spent a decade doing share buy backs...this is what the US is now a shell game..so once again ,,,do they even have any gold ?
Maybe, Hogan thinks we will forget he has only bought only 40,000 shares with cash out of his own pocket when he is being paid £2m a year tax free.
Makes interesting reading Yoseph,Hogan and Jarrard get their free share and the Solar plant up and running next year.
Exactly, they are setting up all the right behaviours!
Ethereum just joining the high ranks, up 9 % in last 24 hours, and lobbing in at Mkt Cap of $400b. More than Rio and BHP combined!
Interesting times, and what price a dutch tulip?
best
the gnome
Shares on the major European stock market indexes were mostly unchanged in the premarket trade on Tuesday, as the investors monitored the diplomatic feud between Russia and the European Union. The turmoil mounted as the European Commission's officials summoned Russia's ambassador to the EU to strongly reject Russia's sanctions against eight of Brussels' representatives.
Meanwhile, the traders also digested Federal Reserve Chairman Jerome Powell's remarks from the day before. Powell described the economic outlook as "brightened," while underlining that certain aspects of it are expected to continue to struggle in the period to come.
The DAX and the CAC 40 stood flat at 8:02 am CET, while the FTSE 100 went up by 0.44% a minute later. The euro decreased by 0.23% compared to the dollar, selling for 1.20354 at 8:04 am CET, while the pound slid 0.19%, to go for $1.38832 at the same time.
Breaking the News / BU
Buy a load of gold bars and stick them in a safety deposit box!
Going back to the left now in USA. One extreme to the other
>Wealthy families could face combined tax rates of as much as 61% on inherited wealth under President Joe Biden’s tax plan, according to a recent analysis.
>Biden’s plan proposes to nearly double the top tax rate on capital gains and eliminate a tax benefit on appreciated assets known as the “step-up in basis.”
>The combined tax rate would be the highest in nearly a century, according to the tax policy research group.
https://www.cnbc.com/2021/05/03/wealthy-may-face-up-to-61percent-tax-rate-on-inherited-wealth-under-biden-plan.html
should put a fire under someone?!
best
the gnome.
As you say chaps hopefully a better week for all the precious metal miners.
Reports were all over bloomberg over the weekend that fund managers are coming around to the fact the miners might actually be far profitable this year on rising prices, and also that the rich Americans are rushing for their precious metals ETF's which will help sustain the price rises. I do not believe Hedge find managers will bet against Gold especially when they are buying in to and have already sold some very lucrative deals for the miners (did you all read the last HOC report). The prices being offered look good to me and so some will be expecting the market pries to rise up from here in fact. It will be good to get the week off to a good start. Usd falling to will help Gold.
Darren123 hopefully you are correcthowever swings in the SP are nothing to worry about because negative share price action independent of gold price movement or "bad news" is usually either a big seller or manipulation. Sadly the result is a temporarily depressed share price.
The fundamentals remain the same, we still have the same management, the same gold in the ground and the same forecasts, so by all that is logical no reason for the negative price movement.
CEY being a gold miner and a "foreign share" not subject to stamp duty is an ideal target for manipulation by market makers, hedge funds and the like.
I have held this share since 01-Feb-2011, bought and sold some along the way and in retrospect wished I had traded more often, but I am fully invested to an amount that is for more than prudent. Lol if we were in Las Vegas I would be he guy sat at the table putting it all on red.
Good luck for the coming period, let's hope there is good news re the African developments to move the SP forward.
There is a lot in play with the new King of the old World Order, Joe B.
>President Biden’s proposed $1.8 trillion American Families Plan on top of his $2.3 trillion American Jobs Plan and his $1.9 trillion American Rescue Plan makes the biggest increase in government spending since the big Roosevelt increases.
>Big increases in spending will be partially funded by big increases in taxes (especially on companies and the rich) and partially funded by large increases in debt that has to be sold to a) investors who already hold too much of it and are disincentivized to buy it by the low real interest rates, and b) the Fed, which probably will be incentivized to buy enough of it to prevent an interest rate rise that would be too painful to bear. The most likely effects will be higher inflation and a declining dollar relative to other assets,
>the capitalist profit-making system is the best system for increasing the size of the pie, but it has not been good enough in dividing the pie well...so away we go to the left
More at below link
https://www.linkedin.com/pulse/biden-tax-spend-plan-big-cycle-swing-ray-dalio/?published=t
The missing pieces have been
1. the lack of alignment with the value of currencies and scoieties values.
2. the rise of cryptocurrencies, inspired by we know not whom, who designed an algorthm, which generates numbers we store and treasure, in creating the bitcoin, which is now capitalised at $1 trillion, which is more than half of the $2 trillion value of all cryptos!
Values?
Employment creation?
>The Block has analyzed 158 companies exclusively involved in blockchain and cryptocurrencies
>At least 50 companies in the blockchain industry currently employ more than 100 people
>The largest is Bitmain with 1,500 employees, followed by ?Huobi (~1,300), Coinbase (~1,000) and OKEx (~950)
More than 42% of all people in the blockchain industry work for cryptocurrency exchanges, another 10% for mining hardware manufacturers
https://www.theblockcrypto.com/genesis/44300/research-42-of-blockchain-industry-employees-work-for-exchanges?utm_source=rss&utm_medium=rss
Crypto's value to the communities they work in and support them?
A contrast?
In Australia the Gold Industry employed 27,000 people in 2015, and did a few more things for the community
EARNINGS $16b
Australia exports gold to more than 55 countries.
ROYALTIES $2.4b
Royalties paid by the industry since 2005-06. In 2014-15, the industry paid $317 million.
HIGH WAGES Ave $143k
Average wages in the gold industry exceed $140,000 – 70 percent above average.
EMPLOYMENT
More than 27,000 people were directly employed by the gold industry in 2015.
PRODUCTION
Australia produced 9 million troy ounces in 2015-16, 10 per cent of global gold production.
A conclusion?
Trying to put gold in perspective, but tehcrypto is a misalignment of value and societal values.
but DYOR of course.
best
the Gnome
Serpents with forked tongues comes to mind.
Today on Kitco a big increase on Hedge Funds shorting gold !
Hence Fridays survey.
Tiger, exactly; all the Kitco traders being simultaneously down on gold is not so much ‘not necessarily a bad sign’ as in my book it is a very good sign as said this am. When everyone is negative is the best time to buy and as said I have never seen it on the KITCO Friday survey before. Ever hopeful…although gold is a fickle mistress
Hopefully be a good day tomorrow. Here's hoping gold doesn't fall back tonight and tomorrow.