Roundtable Discussion; The Future of Mineral Sands. 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 hardly blame the chavmeister...imagine him turning up at Tally office with his staffie burbury and nike airmax...last thing Parry needs.
Hurry up I would like my 10k back otherwise Chavvie will be at the Tally offices....set the dogs on ya!
We're due an update in March, no?
What a great idea, I seriously doubt they'll take your impatience seriously but if they do I'd like to be the first to thank you for wasting the companies time with this which will help to delay things even further.
Think it would be more the FCA to investigate than the financial ombudsman tbf
Big7
You get worried too much
Why dont you ask if IKEA hold all the wood all the time
Tally just need a contract with a gold supplier to reserve gold for Tally as and when basis and on incremental quantity
When you sell the Tally gold can you still use the card and use abroad with the Pounds held i your account instead of converting intoTally gold?
Imagine if it all turned out to be a fancy sham not too dissimilar to a CFD lol
Got to admit it's a good point.
They have been saying they will release the auditor details and regular audits. Not seen any myself.
BA - Tally (coin/token) is meant to represent gold is it not ? and that gold is held in vaults according to the website blurb. So the question is where is the audit and proof of reserve ?
All deposits should be held as reserves, hence the assertion that for every Tally there is a gramme of gold held.
if there is any gold to correlate to the issuance of Tally then there should be an audit.
Why do you think this is not an issue ??
Big7
This isnt an issue - It would be silly for Tally to hold x-amount of gold - that will raise the OPex to the moon. There are very easy ways to get round this, I remember discussing it last year on here.
The real issue is your lack of trust in the company.
That I can completely accept and one that will take a while to restore for most of us.
Without trust every tiny thing gets magnified in the financial land.
Dotn blame you at all
This conversation about Tally being used by savers and spenders seems to be illogical when everyone is ignoring the huge elephant in the room The Physical Gold !!
Where is the physical gold ?
When was the gold stock audited ?
Is there any gold attached to Tally ?
With NO PROOF of RESERVES then Tally is just another fiat currency !!
How do we know that Tally own NO gold whatsoever but is just arbitraging the customers fiat deposits against expected future growth based on the story being spun. I'm no expert on exchange listings but I'd bet a penny to a pound that the bar for compliance on proof of reserves for financial companies is a huge prohibitive hurdle to relisting.
Bernie Madoff pulled off his ponzi scheme for years and years until he was finally made to face proof of reserves and had to admit there were none. He went to the trouble to produce corrupt audits. Madoff was a former non-exec Chairman of NASDAQ and went unchallenged for decades. Before the aggressive retorts rain down just one last question Why would the company NOT want to provide an audit and proof of reserves ? if your answer is "company sensitive information" or similar then one last thing to consider - this was Madoff's stock answer !!
Haha! No secret meetings over a pint for me BA lol.
Only because I refuse to go into London lol. Have to be forced to near the place.
"Horses for courses mate."
Thats it
Everyone can have a piece of Tally
More the merrier
sounds like you have seen plans over a drink with someone lol
@deano, I see where you’re coming from regarding savings , the spenders do not replace them, the spenders are in addition to the savers
It is good for spending, I’ve used the card multiple times abroad in various countries and it has saved me a small fortune on flights, accommodation, general spending, as there are no non sterling transaction fees as well as no ATM withdrawal fees
@BA whilst you may be confident on buying gold from the royal mint, there will be many out there aren’t confident in going down that route
There will be many who may want to buy, hold and want the long term benefit of holding gold but don’t know how to do it.
Tally gives them the option, yet also provides the liquidity to sell anytime, anywhere...providing you have phone or internet signal lol
There are many positives for Tally
Its just that we gotta reduce some negatives
There will always be things to be done so while I am not going to be overly hopeful because am not the one making decisions and its not my place
My view is that IF we get rid of mines
Restructure company with only sole TallyMoney function
Then we are ready for market and public
Horses for courses mate. I find the long term saving appeal more than everyday transacting. But I admit I do use it for spending too.
It's just not a currency lol
To be fair BA I would rather hold gold via tally than buy some bullion from the mint. It's a faff to sell for cash isn't it? Can't take an ounce down Tesco to buy some food either, and the kind of ounces that sell in the underground car park isn't gold lol.
Tally is great to give exposure to gold and be liquid doing so. Better than a ETF.
Amen to that !!
b1gdeano
If people dont spend it will be out of sight and out of mind soon - will be like a dead saving account
More active users can be sold many other various financial products like insurance or credit or direct debit or discount through affiliate businesses(restaurants) etc etc the list is exhaustive
Spending with Tally is good
I never agreed with the initial stance of berating current banking system
After
Listing company on Current Markets
Using Current Banks to take loans
Applying for grants from Banks' Fund
Its my opinion not a fact that using negative approach doesnt help, it actually makes customers more anxious
If Banking System isnt good but still working and present - why should one trust a new system which isnt working and isn't present specially one with history of Lionsgold
Then once you make people scared and suppose you succeed in creating fear then People will even be more reluctant to part with their money
That book isnt good either cause youre selling gold not Tally with that book
I would rather buy Gold from RoyalMint compared to Tally, wouldn't you if you werent an investor?
In my humble view this path isnt good for Tally
Except that you can convince masses to do anything stupid through a BIG marketing budget, get a celebrity and some psychologically adapt adverts - for that we need EXPERTS highly paid marketing professionals with a big budget
I am glad that book isnt being branded any more
I am glad they are focusing on the APP
With IPO money etc - I hope we get professional marketing experts to launch this product
You and I or the board could have ideas but we arent marketing experts
Why do they need to encourage people to spend it?
They make money on average amounts held. Not spent.
It's not a currency is it? It converts a made up unit to Fiat and vice versa. It's a gold investment product with ease of access. A great savings account.
Not currency.
How are they going to encourage everyday spending on it if they don't push the currency aspect? He is correct in what he is saying, it is a standalone monetary system, independent of fiat.
The democratisation aspect if anyone is unsure is that it is a non government issued currency. Once this share is trading again it means that new investors can actually own part of the company the currency based on.
Agreed BA. It does quite often seem like a huge ego trip by CP when he talks about tally. Like he is single handed saving the financial system.
I was concerned in the QA when he mentioned shops could end up pricing things in tally! Deluded! Never gonna happen. Very least reason is they would need to keep changing the advertised price depending on fluctuations I gold!
Madness. Needs to stop this currency nonsense and sell it as it is. A savings/gold investment product with easy access.
Its a misnomer
Less than 1% of the population holds more wealth than over 99%
Democratisation is just another new marketing tool to tie in common folk into thinking they will be better off while actual value of life have consistently gone down across the globe for common folk.
Just make money behind these band wagons
Dont ever attach morals to money or wealth
All this righteousness makes me sick
Maybe not.
But then have a fooking massive book of excuses lol