I'm the same as Surfit - on II. I can't post for a while so will class 'broker attachment' as done. Best of luck everyone.
Aoife
Status (done?)
Notified RKH (Yes/No). Broker statement attached. (Yes/No). Approx size.
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(your nickname here)
Glenrothes1969 Yes. Yes. 3.5millions
LSEtown Yes. Yes. 0.75 million
Oilfred Yes/No (on order) 500k
Surfit Yes, No (on order), 446k
Spacehoppa Yes, No (on order), 550k
Arfur_Uggins Yes. Yes. 105K
Steph F Yes. Yes. 20K
I'm waiting to get my reply from II. I'll then send both documents to RKH - same goes for Steph F. Others on here also use II so II will be getting plenty of experience in what to do.
Since a few shareholders have sent the letter to RKH already, I bet some of the RKH emplyees are reading this board on a regular basis. Print those AGM results Mr Moody - you know it makes sense!
It is true that at the end of November last year, LSE did stop non members from reading the comments so I had to sign up. I'm never keen to give my email address out but I don't seem to have had any 'special offers from third parties' emails so it's OK for now.
I seem to have spent most of my time on the Centamin board writing about everything else except Centamin! I really must get a life.
Aoife
Hi Spindler
Rebess is obviously the person to answer you queries. I think digital currencies are something I must learn about even though I may not actually buy any until I'm forced to. China is way ahead of any other country in studying how a digital currency may work. Maybe there will be a digital yuan backed by gold or a basket of commodities? I always think it's best to try not to fall behind.
Aoife
'By the way, have you seen Aberdeen Standard Life have renamed themselves "abrdn"?
Can I make a prediction? That is, in the next five years time "abrdn" collapses in a financial scandal.'
May I make a prediction? ABRDN won't be the only one.
A
Sorry for the off topic everyone.
Mr T
I think Nigel Farage's next project is to make Britain aware of the influence China has on our economy and society as a whole.
He kept forming new parties - UKIP, The Brexit Party and Reform in order to apply pressure on the Conservative government at election times, to remind them that Britain had voted to leave and that the government should not 'backslide'. It was principally during May's period in office. He was never serious about governing - as far as I could make out, he never really had much more policy than Brexit. Having been a trader, he knows the end game for the West, and won't take responsibility for a mess that was never his doing.
Actually, I think Farage would make a much better PM than son of Fred Scuttle. I also think Brexiteers would have a better Brexit - ask the fishermen if they are happy!
As for Corbyn, he got what he deserved. I can't think of another MP who was more anti EU but he turned his coat and thought only of winning votes - 'I've got youth on my side'! Not in his wildest dreams did he imagine spending the amount of money that this government has. Moral of the story? Stick to your beliefs and show people your vision of our country. Then we might vote for you.
I liked your story about canvassing. I have a funny story which I'll tell you during a quiet period. I'm aware there have been many off topic posts recently and don't want to lose people's goodwill.
Aoife
Mr T wrote:
...'at that point a very large bellied unkempt man in a dirty vest appeared and told us to "F" off or we would get his boot up our ar*es as he always voted Tory!'
You never told me you had met Boris Johnson before he became a politician!
Sorry, everyone, I think it's the Irish in me.
Aoife
Rebess
Thanks so much for replying. It's good to know about these things - it's early days but who knows what the future will bring.
Regards
Aoife
...still a little stunned from Friday's smack. My other gold/silver miners took a bit of a hit but Centamin is holding up well here. That's definitely a big sentiment change. If I had time, I might have considered doing what Mary does - try to buy and sell to get a lower average. I can't be around to look at the prices all day long so it's not really an option for me. It seems a good strategy though.
Aoife
I agree about holding some gold but keep in mind that the overwhelming majority of people in Britain have very few savings indeed. They cannot exist without taxpayers help.
A
Points very much taken.
We learn about economics and science from a western mentality, which has dominated largely for a few centuries. A big shift is coming, even in my lifetime, and we'll be forced to shift to a new way of thinking.
I'll hang on to my gold.
A
This is an interesting article on the future possible reserve currency that is the Yuan. I've no idea how authentic the premises are that are discussed within. I do have a lot of time for Dominic Frisby - he seems very multi-talented - speaks several languages, plays musical instruments and sings. Can he see into the future? - I'd be impressed by that.
https://moneyweek.com/investments/commodities/gold/603131/how-much-gold-china-owns-yuan-reserve-currency
Rebess
This is an interesting concept. So the Kau and Kag are backed up by the physical metal. This, presumably, has to be stored somewhere and possibly incurs a storage cost to the user? So it's a bit like a current account that has a fee attached? How widespread is its potential use at the moment - where is it accepted as payment?
Thanks
Aoife
Hi Mr Gnome
Anyone who does a weekly shop knows that inflation - CPI and RPI - is higher than the quoted figures. Studies in the USA suggest it is anywhere between 5 - 10% and is probably that in the UK. There are also all kinds of fiddles such as shrinkflation. At one time, a girl would only need one Mars bar to make her put on weight and now it's nearer two. Leave well alone, say I! I won't even go near the unemployment figures question.
Your link included so much data that I couldn't possibly answer everything here. There are many pros and cons to having a fixed currency exchange rate but I am in favour of floating rates. Being on a gold standard back in the 19th Century was fine because the internal adjustments necessary to maintain parity with gold were easier to accomplish. Those adjustments were almost invariably to wages. So the landowner or manufacturer largely was OK, but the workers had to suffer. Most didn't have a vote and there weren't any unions, so who cares? It's much different today, of course. Even our Harold baulked at fighting the unions in 1967 when Britain devalued. It didn't affect the pound in your pocket though - laugh, laugh.
A country's exchange rate is, in my opinion, the most important safety valve for its economy. When Britain joined the ERM in the early 1990s, it lost over a third of a million jobs during a six month period because the rate was too high. You'd think that would have been a lesson in why not to join the Euro. Oh no, we had some idiots all for it - Blair, Ashdown, Hestletine etc. We now look at the southern EuroZone states and say 'we told you so'. The likes of Greece has had its economy trashed and only gets by from fiscal transfers given by Germany, Holland and Finland, in the main - the kindness of strangers. The Euro is worse than the gold standard - at least you can come off gold. Come off the Euro and you have all your debt to pay back to the strong Germans and Americans in a near worthless currency.
Floating rates are subject to manipulation but they do adjust quickly. Obviously the net affect of that adjustment is the same as a devaluation but at least no people seem to riot on the streets - politicians love a hidden fix.
We also had the removal of capital controls in the 1980s under Thatcher and that has increased the money supply and velocity. Foreign capital has flooded in - and sterling has moved out - which has meant more investment, higher productivity and an increase in GDP. The graph shows before 1971, all those factors were more subdued.
Gold itself can be considered fiat - shock, horror. When the going gets tough, gold gets ditched. The First World War would certainly have been over by Christmas if sterling hadn't been floated - the combatants would simply have run out of money.
The big problem is how to stop governments from borrowing so much money. If you can answer that one, you're a better woman than I GD.
Regards
Aoife
I think you're wrong. Having read the board for some time, it's clear to me that many people have seen some things that human beings really ought not to see, and they have formed their opinions based on that experience. I include myself in that statement.
Aoife
Happy ANZAC day Australia and New Zealand. Thanks for always being there.
Aoife
Hi Mr T
Well, it reminds me of that Italian proverb: If you want to know how rotten a fish is, look at its head.
It's just politicians, isn't it? It goes to show that Enoch Powell's line of 'nearly all political careers end in failure,' pretty much hits the spot. Love him or hate him, Nigel Farage is clever enough to know that if you want to change something, focus on the one thing you are passionate about. Learn all about the subject and you'll hit the opposition for six. William Wilberforce, Lord Shaftesbury and the Suffragettes (and so many others) showed him the way. If you have an ego too big to handle or just want to go for the perks, then become a politician and enjoy it while it lasts. You'll end up being hated by the people and achieve nothing of use - most likely you'll end up being a mass murderer like 'hello, I'm Tony'.
My solution has always been that the peoples of the world should club together and buy a distant island somewhere. Once the politicians are elected - or have elected themselves - we just fly them off to the island and we live in peace and properity until the next election. Rinse and repeat. But no one ever listens to me.
You see Mr T, there is a working class solution to every middle class problem.
Aoife
Mr T
I was referring to gold traders in a general sense, not implying that absolutely everyone is untrustworthy. If you say Andrew Maguire is alright then I have no reason to think otherwise. If we tar everyone with the same brush, we'll end up thinking all doctors are like Harold Shipman! Clearly they are not.
I often hear people say that a person has to earn their respect. I prefer to give everyone the respect they deserve from the start. It is down to them to keep it - nearly everyone I've met has done that.
Aoife
Judging by the front page of the FT today, the scallywags are doing a fine job of killing one another - Johnson and Cummings!
A
Goldgnome
The short answer to what I would do for the economy is do nothing. We have gone past the point of no return and government no longer 'borrows' money but prints it to keep up its largesse. If I were to propose policies that would set out a return to economic prosperity, no one would vote for me. If I were to tell people that the economy from here on in can only crash and burn, people would think I was talking rubbish. The trouble is it has to crash and burn before any change can come about. So the good will sit back and let the scallywags hang themselves. You know it makes sense.
My only advice is to beware hypoglycemic poor people in the future - I may even end up one of them.
Aoife
Thank you Goldgnome and Mr T for some absolutely first class posts this morning (morning for me anyway).
Aoife