Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
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Fairly predictable. Batter down me hearties in the UK,, this does look very ugly, and winter is looming!
The UK watchdogs responsible for the £1.5tn corner of the pensions sector that came close to imploding this week are holding daily talks with asset managers to stave off a fresh crisis when the Bank of England’s emergency bond buying ends.
The £65 billion ($113.7 billion) plan, which ends on October 14, was launched on Wednesday to safeguard the pensions sector after this week’s market turmoil sparked by chancellor Kwasi Kwarteng’s plans for unfunded tax cuts.
And more pain is coming, and where the money is coming from is still anyone's guess...?
Meanwhile in the U.S. policy makers aren’t likely to take action to slow the dollar’s rapid rise despite rising risks of global financial turmoil, analysts say, largely because a strong greenback helps fight domestic inflation.
The U.S. dollar has soared in value as the Federal Reserve raises interest rates to fight the highest U.S. inflation in decades and investors move money into dollar-denominated assets. The WSJ Dollar Index, which measures the dollar against a basket of other currencies, is up roughly 16% so far this year.
The dollar’s strengthening relative to other currencies puts pressure on many other countries around the world, boosting the costs of imports priced in dollars and servicing dollar-denominated debts. This is particularly difficult for many developing economies that struggle with large debts and import much of their fuels, food and other commodities.
Wealthier economies face troubles, too, as their import costs rise. Japan, the world’s third-largest economy, recently intervened in currency markets to support the yen.
Treasury Secretary Janet Yellen says the U.S. supports market-determined exchange rates, adding that the strength of the dollar is largely the product of the Fed’s policies and subsequent capital inflows to the U.S. So FU all?
CEY is not a bad place to invest
best
the gnome
Its a v bad look. The left hand wasnt talking to the rights in the Parliament, and no one was talking to the markey, and ...
The new British government triggered a vicious sell-off in both the pound and UK government bonds, which are known as gilts, when it unveiled a surprise and unfunded tax cut, at a time when the Bank of England is hiking interest rates to subdue soaring inflation.
Treasurer Jim Chalmers is breaching the widely accepted principle that tax changes aren’t retrospective, and hitting investor confidence in the process. Alex Ellinghausen
Investors were dismayed to see UK fiscal and monetary policy obviously pulling in opposite directions. It pointed to a fundamental conflict and lack of consensus between UK politicians and the country’s key institutions. IT POINTED TO SOME REAL DOUBTS AS TO HOW FUNDAMENTAL POLICIES ARE CONSTRUCTED BY THE NEW GOVERNMENT. FIRST LOOKS CAN BE FATAL. Yoyu really dont need this sort fo thing happening in this sort of global environment.
best of luck
Gnome
A cardboard cutout government with a paper opposition.
Time both were recycled.
Another day and a quick reversal of well thought through policy, giving investors confidence in robust decision making by the Chancellor and the new PM, ...
and how are the banks going...instilling confidence
June 2022, "Handling bags of cash for a wrestler-turned-cocaine-trafficker is the kind of business you shouldn’t do as an international wealth manager. Credit Suisse Group AG’s criminal money-laundering conviction in Switzerland this week for exactly this is an embarrassment, though not a costly one with total penalties of little more than $20 million. "
Well what goes around comes around. Now Suisse are trying to instill confidence that they are well run? LOL
And in Deloittes we see another fiasco. Letting clients runtheir own audiot..LOL
Global accounting giant Deloitte has been fined $US20 million ($31 million) for asking audit clients to conduct their own audit work in a move the US corporate watchdog said fell “woefully short” (!!???) of professional requirements (OF ONE OF THE LARGEST ACCOUNTING FIRMS IN THE WORLD!).
The US Securities and Exchange Commission (SEC) found that auditors in Deloitte’s China arm asked clients to select samples of financial reports to be reviewed and to prepare audit documentation that falsely claimed the firm had obtained and assessed supporting evidence for certain accounting entries.
Well you could well question how solid and robust the banking and accounting system is.
The counter argument to some of this (not all) is hidden by the nature of the press. “Journalism by its very nature hides progress,” Pinker argued in a recent interview, “because it presents sudden events rather than gradual trends … the press is an availability machine. It includes the worst things to happen on Earth at any given time.” But, he adds, “human progress is an empirical fact.”
“If it bleeds, it leads,” is an old newsroom adage for good reasons.
So we just recognise the bias, and get on with life ...
The trend is your friend but what si the trend, when its soemtimes a little difficult to see through the endless negativity of the press..., and the even the mighty can be totally wrong in readingt he trends even when they spend a large pportion of their life analysing them-supposedly. “Cash is trash,” is how Dalio has summed up his view in interviews. But the US dollar has been one of the big winners of the past year. The DXY dollar index is up 18% year to date. Relative to the dollar, gold is down 10%, the Chinese yuan 13%, the euro 15%, the pound and the yen 20%, Bitcoin 60% and Ethereum 65%....
Whats the trend, whats the events ...?
Some would argue the trend in the USD has been up since 2008...but there have been soem serious deviations, and my bet is we will see another big deviation...
https://tradingeconomics.com/united-states/currency
best
the gnome