Member Info for giantsquid

Lockdowns are bad for SN. Boris still refuses to rule them out. Hence the drop. Huge upside potential though.

Trades 1,000
Vol. Sold 220,098
Sold Value £520.75k
Vol. Bought 8,715,118
Bought Value £21m

@GoldTelegraph_

China’s #Evergrande:

- $300 billion in liabilities

- $7.4 billion in bonds due in 2022

- Bonds are now suspended

- Already missed debt payments this year

- Chairman recently stepped down from key unit role

This could destabilize global markets

5 years ago, Barclays sold its London gold, silver, platinum and palladium vault to a Chinese company. They have no interest in precious metals - maybe they see prices going much higher and are suffering from sour grapes at the thought they may have made a mistake?

https://www.cityam.com/barclays-loses-its-metal-as-it-sells-london-gold-silver-platinum-and-palladium-vault-to-icbc-standard-bank/

Wall Street journal: "Jobs Won’t Look Great in September, Either"

https://www.wsj.com/articles/jobs-wont-look-great-in-september-either-11630684035

https://goldseek.com/article/taper-likely-table-gold-silver-and-mining-stocks-are-ready-rumble

https://silverseek.com/article/silver-projects-stand-benefit-us-crackdown-solar-panel-supply-chain

The Wheels Come Off: As Economic Growth Craters, NY Fed Suspends Its GDP Tracking Model
https://www.zerohedge.com/markets/wheels-come-economic-growth-craters-ny-fed-suspends-its-gdp-tracking-model

Russia’s central bank says a new financial crisis on the scale of the 2008 collapse could happen in less than 18 months if global inflation is not kept in check.

https://www.ft.com/content/624b3082-6774-4967-aab1-d5d617eb49b0

Ted Cruz @TedCruz

7 months into Joe Biden’s presidency:

* Catastrophe in Afghanistan, Americans stranded, billions of $ of US weapons with Taliban
* Inflation Crisis
* Border Crisis
* Disastrous jobs report, missing expectations by half a million

“Jimmy Carter 2.0” is an understatement.

Precious metals extend gains, silver jumps 3%
[03/09/2021] 15:34:00
Precious metals accelerated gains on Friday, with silver rising more than 3%, reaching levels last recorded on August 6.

The investors seemingly turned to safe-haven assets after a worse-than-expected report on nonfarm employment in the United States.

Gold gained 0.95% to go for $1,827.07 per ounce at 10:32 am ET, while silver soared 3.13% to sell for $24.66 per ounce a minute later. Platinum jumped 2.18% to change hands for $1,025.57 per ounce at 10:33 am ET, while palladium turned to gains and increased by 0.84% to $2,431.45 per ounce at 10:34 am ET.

KEYWORDS:
PRECIOUS METALS

Breaking the News / BU

Precious metals extend gains, silver jumps 3%
[03/09/2021] 15:34:00
Precious metals accelerated gains on Friday, with silver rising more than 3%, reaching levels last recorded on August 6.
http://www.breakingthenews.net/news/details/56310341

https://goldprice.org/goldprice.org

Peter Schiff @PeterSchiff
Chief Economist & Global Strategist: http://Europac.com |
Chairman: http://SchiffGold.com | Founder: http://EpacFunds.com , http://EuroPacBank.com | Host: http://SchiffRadio.com
Puerto Rico, 549.5K Followers

"It's noteworthy that while today's rise in long-term bond yields is hurting #gold, is not helping the dollar. If bond yields keep rising, and gold starts shrugging it off too, look out. #Inflation is bad for bonds, but good for gold. So bond yields and gold should rise together!"

https://www.kitco.com/news/2021-07-19/Brazil-s-central-bank-buys-41-8-tonnes-of-gold-in-June.html

https://riotimesonline.com/brazil-news/brazil/brazilian-central-bank-buys-41-8-tons-of-gold-to-bolster-reserves/

https://www.bullionstar.com/blogs/ronan-manly/brazils-central-bank-refuses-to-answer-any-questions-about-its-gold-reserves/

https://markets.businessinsider.com/news/commodities/brazils-central-bank-buys-41-8-tonnes-of-gold-in-june-10346380

https://goldbroker.com/news/brazil-central-bank-buys-41-tons-gold-bolster-reserves-2399

https://www.rt.com/business/532085-brazil-gold-holdings-double/

On the one hand we have Boris Johnson pushing a green recovery - so you'd expect public transport to really benefit from that. And maybe it will (eventually) because hardly anyone can afford £30K for an electric car. Not to mention the fact they're crap. And impossible to charge if you live in the top floor of a tower block for example. Plus there's nowhere near enough charging stations across the country, plus it takes hours to charge the damn thing even when you do find a charging station. So there's a lot of plus points for the public transport sector.

The negative points seem mainly to be homeworking and the government's lack of enthusiasm to want to see workers back in the office. Quite the opposite infact, Johnson seems very much in favour of the continuation of permanent change in the way we live our lives, including working from home. Which is bad for the public transport sector and is the reason George Soros is shorting Trainline (he sees homeworking as the new normal).

My view is we need life back as normal. We've got the vaccines, we've taken all the precautions we can possibly take. It's time to say enough's enough and get life back to normal. No masks, no social distancing, no more lockdowns or restrictions. But above all, we have GOT TO GET homeworkers back in the office. It's killing the transport sector and even retailers who rely on the busy lunchtime trade are noticing a severe impact on trade not having those office workers in buying their lunch.

You get the feeling this country is not on the right path whereby we can all enjoy a full and rapid recovery. Hence why so many stocks are lagging with little enthusiasm generally in the markets. Sort it out Johnson.

I find it concerning the amount of loss that can result from being overly trusting in the customer. Like many retailers, there's now a lot of movement towards self pay - removing checkout operators and getting people to scan their own shopping. M&S also has a feature on their shopping app allowing people to scan their goods on their smartphone - then pay and walk straight out the door (without even passing it by any of their staff). To me that's overly trusting and could easily result in significant theft across their stores. It's also becoming a thing where you go into a shop and you get asked if you want a receipt. A number of the supermarkets are now doing this, as well as M&S. Again, how the hell do they manage theft? How do they know who's paid and who hadn't if half the shoppers have no proof of payment (and aren't req'd to have proof of payment)? Seems badly managed to me at the highest level.

Gold price going up

https://goldprice.org/goldprice.org

"The main problem that gold has right now, is that the economic recovery is going too well,” says Charlie Morris of Fleet Street Letter fame. He’s right.

Meanwhile, as all this is going on in Western markets, watch the Chinese keep on accumulating...

https://moneyweek.com/investments/commodities/gold/603690/how-much-further-will-the-gold-price-fall

I'm happy with a slow and steady uptrend like we're seeing. Volatility and wild swings may be a daytrader's dream but that kind of movement puts a lot of serious big money investors off. I frequently look back at the 5d chart and a nice stable base has now formed which investors look for when timing entry. The recent update has derisked this stock substantially and taken away much of the volatility and wild swings that we've seen over the last 18 months. This time is different, 50p will be gone very soon. We should be at least 60p right now but fair value is closer to 80p. And at some point beyond that, CPI will without doubt be back over £1 before too long.

I don't think there's any question Cineworld can fully recover - IF, and it's a big IF, there are no more lockdowns or tightening of restrictions later this year. Unfortunately this feckless, useless, utterly incompetent government of ours refuses to rule it out and that for me is the biggest concern.

But if we can for a minute assume we really have seen the last of restrictions and lockdowns, if we really knew that for sure, then absolutely I could see Cineworld going from strength to strength and making a full recovery.

For me it's a case of don't blame Cineworld, blame the government. There's nothing wrong with the company, it's a great company and provided they aren't required to shut down again, the current share price is a steal.

Over the last 18 months, the stock has been a bit up and down at times, just like most other FTSE companies. And that's been due mainly to uncertainties around covid and recovery. But since the last update, risk has reduced significantly now, so we're really in a different ball game compared to before. For this reason, we shouldn't be overly fixated with regards share price movement since the pandemic hit - because the wheels have now turned somewhat and we're in the early stages of a full on recovery. Boohoo was like this once and after months of crawling along the bottom @25p many bailed at the first sign of a decent rise because they were convinced it'd retrace and fall back down again. They failed to spot the company was in the early stages of recovery and jumping ship at the first sign of that recovery ultimately proved a terrible and extremely costly mistake for many. Don't make the same mistake here!