Member Info for goldgnome

Its a suggestion of stupidity or lunacy which leads to a prediction that this precarious state of affairs will continue in various forms for another 2,000 years and more. So why worry ?

The laughable International Court of justice sits a lamentable icon of ineffectual ideology and the woman in the highest clouds must be wondering where she went wrong and how she can fix thux mess, as the adversaries are not up to it

Is this an opportunity for women to relpace men in all such matters or do we need AI ?

Goodnight and good luck from Iceland

Not learning from 2,000 plus years of history provides a clue to the mental state of affairs

Dear Mr Bond

Its Benny Yahoo who is serious and his plan includes the shipping out of Palestinian refugees to UK and,Europe, as I have heard from emminent sources, at the same time he claims innocense

Could be an interesting future and what a scorching strategy byBenny and Co

History always goes wobbly and gold goes up when the lunatics take over the asylum

Benny and friends have not realised that using terror, murdering innocents and telling porkies does not create a sustainable enjoyable peace

What a couple? So predictable.

First a regime change in Iraq

Then Libya

Then take on the Palestinians

And now lets do Iran

Go for the Quadrella, why not?

Russia, I almost forgot

And the new chestnut, China

There are a few I've forgot, conveniently.

If you are not on gold or crypto, go for the Defence ETFs

A pathetic state of affairs...but great for hard assets

The gnome

Front Month Comex Gold for June delivery gained $23.30 per troy ounce, or 0.70% to $3373.50 today

–Fifth highest close in history

–Up two of the past three sessions

–Today’s settlement value is the fifth highest this year

–Highest settlement value since Wednesday, May 7, 2025

–Off 1.11% from its 52-week high of $3411.40 hit Tuesday, May 6, 2025

–Up 46.72% from its 52-week low of $2299.20 hit Wednesday, June 26, 2024

–Rose 43.30% from 52 weeks ago

–Off 1.11% from its 2025 settlement high of $3411.40 hit Tuesday, May 6, 2025

–Up 27.86% from its 2025 settlement low of $2638.40 hit Monday, Jan. 6, 2025

–Off 1.11% from its record high of $3411.40 hit Tuesday, May 6, 2025

–Year-to-date it is up $744.30 or 28.31%

One way the Usa can reduce effective debt is to decrease value of US$

One way the Usa can be more competitive is to decrease value of US$

One companion for tarriff game is to decrease value of US$

Don't be surprised if US$ decreases in value?

And gold continues to rise

The gnome

Unbelievable environment for market exuberance and another 2008 style crisis. Hedged Out, a high-finance ethnography by Megan Tobias Neely, explains the new financial order by dissecting the people who run the private equity investment firms. Other books—Sachin Khajuria’s Two and Twenty and Brendan Ballou’s Plunder—do the same by analyzing the companies and the deals they make.

Private, or “alternative,” fund managers now bankroll virtually every piece of the U.S. economy and make a lot of money doing it. They collected an estimated $252 billion in fees (!!!!) in 2023 globally, about six times the $41 billion they made in 2013, according to Preqin, a firm that sells data on private funds and that was recently acquired for $3.2 billion.

Fund managers far outnumber tech moguls and bankers on the most recent Forbes list of billionaires. JPMorgan CEO Jamie Dimon sits below about 40 private-equity executives on the list.

Chieftains like Apollo’s Marc Rowan and Blackstone’s Steve Schwarzman also wield increasing political clout. Donald Trump consulted Rowan on the economy and picked hedge-fund manager Scott Bessent for Treasury secretary, a post typically held by bankers. Might explain a few things? Look after your mates??

Get the picture. This is a debt ridden poorly regulated financial disaster coming fast

A typical alternative investment works like this: Partners launch a fund, contributing 5% from their own money (and fees and bonuses probably come close to 5+% ? Which leaves how much skin in the game?) and raising the rest from investors ( the other peoples money syndrome?) , promising to return the capital and profits minus fees in about 10 years. Strategies range from private credit to infrastructure, but private equity still accounts for about one-third of all investment dollars.

Fund founders make so much money because they run their companies with absolute power and little regulation, Tobias Neely writes in Hedged Out. The book draws on interviews with 48 hedge-fund workers to chart the evolution of the American financier.

The community bank executive of the mid-20th century morphs into the wheeling and dealing investment banker of the 1980s, then the billionaire private-fund manager of today.

Good luck all. This is a fiasco in the making

The gnome

LOL. Golden Dome. He is confused with WHITE ELEPHANTS 😱

Have a read of the below link

https://fiscaldata.treasury.gov/americas-finance-guide/national-debt/

It is notable that there is a reasonable relationship between debt and wars whether they be for Independence, Civil War, wars of righteousness and the many other wars of wrongness and stupidity

What will the newly crowned KING of America do next. For sure it appears he doesn’t know but it seems reasonable to think he will look after himself and friends first, USA second and all the rest some other time after he plays golf

And he thinks markets reward this sort of behaviour?

Gold set to clear $4,000

The gnome

The US devalues its fiat more, as it does all of the time, with no end possible to debt accumulation. The only difference who wants to buy the USD fiat, as there are other choices ... Dont listen to the rhetoric coming from the US, but watch the feet of the market, this is what really matters

The latest customs data released Tuesday showed China imported more gold last month than they had in nearly a year, and this despite bullion prices setting a new historic high of $3,500 per ounce in April.

Total gold imports reached 127.5 metric tonnes last month, an 11-month high, and represented a 73% rise from March’s figure, even though gold prices were in uncharted territory at the time.

The surge in gold imports was due in part to the People’s Bank of China (PBoC) issuing additional import quotas to some commercial banks in April, as the central bank was compelled to respond to strong demand from institutional and retail investors at what proved to be the peak of U.S.-China trade war anxiety.

And momentum is not slowing. The Chinese gold market has continued to support gold prices this month. Following weeks of uncharacteristic weakness, it was Chinese investors who once again stepped in to buy up the yellow metal as it languished at multi-week lows, with bullion prices now trading back above $3,300 per ounce.

...

While unsustainable U.S. debt is causing some concern in the marketplace — and supporting gold — the entire global treasury market is in turmoil as the Japanese yen carry trade unwinds.

Yields on Japan’s long-dated 30-year bonds rose to a record high of 3.2% on Wednesday, following the government’s WORST bond auction in DECADES.

Although Japanese yields remain low compared to U.S. bonds—with 30-year Treasury yields currently around 5%—Fawad Razaqzada, Market Analyst at City Index and FOREX.com, described the selloff as a “seismic shift” in the global marketplace.

...

Last week, President Trump called POWELL a “FOOL” after the central bank reiterated that it is not in any hurry to ease monetary policy. Despite the ongoing conflict, Trump has said he does not intend to fire Powell (LOL); however, Powell’s term ends in May 2026.

Shah said that gold could perform well if investors begin to question how INDEPENDENT the Fed will be as Trump starts looking for Powell’s replacement.“If the Federal Reserve’s independence starts to be questioned, there is potential for its institutional strength to weaken,” he said. “Gold could see a significant rally, as it is the antithesis to a fiat currency that could (IS!) be manipulated by a central bank. There is an increased need for hard assets like gold in this time of major geopolitical and monetary policy uncertainty.”

Like a bet on Powell, or a bet on gold?

US has surely lost its social license well and truly with its incessant starting/funding of aggression. The chickens tend to come home...

the gnome

Sixth, shares and other related assets often bottom at the point of

maximum bearishness, i.e. just when you and everyone else feel most

negative towards them. So, the trick is to buck the crowd. “Be fearful

when others are greedy. Be greedy when others are fearful,” as Warren

Buffett has said.

Finally, turn down the noise. At times of uncertainty like now, the flow of

negative news reaches fever pitch. Talk of billions wiped off the share

market and of “crashes” help sell copy and generate clicks. The share

market has a total value of $2.77trillion so a 1% fall will wipe off $28bn.

But less newsy are the billions that market rebounds and the rising longterm

trend in share prices add to the share market. Eg, a 10% rise is worth

$277bn. Moreover, such headlines provide no perspective and only add

to the sense of panic. All of this makes it harder to stick to an appropriate

long-term strategy – which is particularly important when it comes to

super as it has to be seen as a long-term investment, except for many of

those near to retirement. So best to turn down the noise

Thanks Shane Oliver from AMP

And if you like to hear another quite voice ... which needs to be listened to ... Professor Hugh White Subject China, from an informed point of view MI NUS the Hysteria of people who get paid per word

https://www.youtube.com/watch?v=Zo1uz4Y83Bc

Prof Jeffrey Sachs is going out with a bang ...

https://www.youtube.com/watch?v=NMMofl1uZc4

goodnight and good luck to us all.

the gold gnome

While the US Govt pontificates about the ever increasing debt ceiling, and regardless of who is in the white house, Anglo will be paying its shareholders a return on their investment of dollars and time. US citizens will be paying a cost of the reckless inefficiency of their respective governments on all manner of ill thought out (thinking has got little to do with their actions I suspect, or of course tgheir are other influences on government investments, think of the thought that goes into bombing qomen and children in gaza, how does sthat benefit the US tax payer???)

https://www.statista.com/chart/1505/americas-debt-ceiling-dilemma/

It does not matter who is in the whitehouse, nor what ideology they believe, debt goes up consistently, and will continue to do so. Entropy (entropy, a measure of the thermal energy unavailable for [productive!] work, or of the constituent randomness, in a process or system) is in full bloom, and once in bloom in any system is gennerally unstoppable. It follows the value of the dollar (purchasing power) will consistently go down against real assets. (Real assets are tangible items that hold value and are owned by an individual or organization. They differ from financial assets, which are intangible, ephemeral and can be easily traded in the market. Real assets include physical assets like real estate, infrastructure, and commodities. They have an inherent physical worth or value and are used to produce goods or services)

https://www.federalbudgetinpictures.com/public-debt-for-every-american/

So ends the first reading of the Go Gold Book of value

best

The gnome

Dont sweat the small daily deviations... Gold is steady at the $3,200 a troy ounce-mark, following a Wednesday slide. After a record-breaking first half of the year, analysts expect the second half of the year to be tougher and “provide ammunition to gold bears,” says Hamad Hussain of Capital Economics in a note. But, Hussain predicts that gold will find new record-highs in 2026, citing “the structural factors which have been key drivers of the gold rally.” Front-month gold climbs 1.2% to $3,220.70 per troy ounce.

Well noted Mr Bond. I hope the nurses treated you well? but otherwise glad to hera you are out and about !!!

Great buying opportunity, whilst the Lemmings did what Lemmings do and speculate as they descend the cliff of another loss,

A little off line, but well worth alisten. A 94 year old Chinese-Malay Professor speaking on Chinas past, and Chinas future. More iintelligence and high quality information in 3 hours, than what you will hear in the wtesern press (mess?) in 3 or 30 years. More politely put, a different perspective.

https://www.youtube.com/watch?v=u3Uu64xgUic&t=46s

https://www.youtube.com/watch?v=QgfCwzrBOOs

I hope I can speak in public forums with such clarity of thought, civility, humility and articulation when I am 94 years old

Good to grab a few extra shares in the last few days...chipping away as a long termer

the gnome

Some very nice numers in the CASH FLOW (I KEEP A CLOSE EYE ON THIS)

$403m ▲ 607% Free cash flow* (Q1 2024: $57m) ...DIVIDENDS FLOW FROM THIS ....

$447m ▲ 671% Headline earnings*** (Q1 2024: $58m)

$1.12bn ▲ 158% Adj. EBITDA* (Q1 2024: $434m)

$443m ▲ 664% Basic earnings (Q1 2024: $58m)

NEW DIVIDEND POLICY: AngloGold Ashanti plc announced new dividend policy. The new dividend policy also introduced a base dividend of $0.50 per share per annum, payable in quarterly instalments of $0.125 per share. When required, a true-up payment in Fourth Quarter of each year will top up the annual base dividend of $0.50 per share to reach the 50% annual free cash flow target.

SO THATS A $0.125 DIVIDEND HEADING INVESTORS WAY PER QUARTER (FIRST IS NOW)...AND WHAT LOOKS LIKE A NICE TOP UP IN 4TH QUARTER

AND IN THE USA, SAME OLD SAME OLD .... ADD ANOTHER -$5 TRILLION TO THE DEBT PILE

The U.S. could (WILL) run out of cash to pay all its bills in August without a debt-limit increase, Treasury Secretary Scott Bessent told lawmakers on Friday, urging them to raise the borrowing cap by mid-July (THE CHOICE IS WHAT?).

The announcement of the so-called X date will serve as an important deadline for the tax-and-fiscal bill that Congress is considering. The Republican legislation is expected to include a debt-limit increase of up to $5 trillion along with tax cuts, spending cuts and additional money (-X$TRILLION) for border enforcement and national defense...WHAT ABOUT THE WARS IN MIDDLE EAST, UKRAINE ETC?

Go gold...Asian demand has dominated the physical gold market for the last two years, and now that trend has extended into the paper market, as demand for gold-backed exchange-traded funds (ETFs) has outpaced all other regions, according to the latest monthly data from the World Gold Council (WGC). As mentioned previously the move away from the USD is happening and for very good reasons.

The report said that global holdings in gold-backed ETFs increased by 115 tonnes, valued at $11 billion, to a total of 3,561 tonnes...

Sounds bizarre, and certainly not like a proper market should function. But then in th eUS, proper functions are more in cartoon scripts tham reality. Pleasee keep us informed

The Fourth Turning is an interesting book. Ray Dalios work is a more recent version. I think the focus on event sequences rather than time scales (especially linear ones) is fine, but the thing to watch now is the consistent shrinking of the event sequences. Look at the gold graph over the last 100 years.

https://www.macrotrends.net/1333/historical-gold-prices-100-year-chart#google_vignette

Then look at the national debt levels

As Phillip Coggan in 2011 said .."For the past forty years western economies have splurged on debt. Now, as the reality dawns that many debts cannot be repaid, we find ourselves again in crisis. But the oncoming defaults have a time-worn place in our economic history. As with the crises in the 1930s and 1970s, governments will fall, currencies will lose their value, and new systems will emerge. Just as Britain set the terms of the international system in the nineteenth century, and America in the twentieth century, a new system will be set by today's creditors in China and the Middle East. In the process, rich will be pitted against poor, young against old, public sector workers against taxpayers and one country against another."

https://bookgrocer.com/products/9781846145100-secondhand-paper-promises-money-debt-and-the-new-world-order

There a lot of lights flashing red, and good reasons to be very careful now as to liquidity and how one manages uncertainty

https://blogs.iadb.org/ideas-matter/en/business-dynamism-is-on-the-decline-globally/

Good bets ... gold, defence, infrastructure, managing uncertainty

Good luck to us all, we may need it, and a few bars of gold wont go astray is my bet

the gnome

Thanks Pipedreamer.

I do bias towards fundamentals as I am a long term investor and do not participate in the ins and outs of the day traders. I simply dont have the time. If you simlpy look at the charts of gold over a 3+ year time period https://goldprice.org/gold-price-history.html then you do get a good sense of the benefit of gold, and its long term resilience.

It is exceedingly obvious there are very real limits on gold production (let alone gold discoveries), and as obvious there is no limit on the amount of fiat currencies governments can create. If you consider the political climate it is also obvious that we are dealing with lack of productivity, increasing inflation, incompetence on a grand scale (you dont need any qualifications to be a politician unlike becoming an engineer) from the full time political class not to mention the bureacratic class and very good evidence that democracy produces a race to the bottom of "lowest common multiple". The endless divisions in society that are continually being created (one could argue this is also a function of the absence of any leadership, and then other could argue this is deliberately done by a small group of overachievers) are leading to death by entropy. "Death by entropy" refers to the concept of the universe reaching a state of maximum disorder and thermal equilibrium, where no further energy or work can be extracted from it. This is often referred to as "heat death" and is a consequence of the second law of thermodynamics, which states that the entropy of an isolated system always increases over time.

The idea of "death of nations by entropy" draws a parallel between the second law of thermodynamics, which dictates that systems tend towards increasing disorder, and the potential decline of societies and civilizations. The metaphor suggests that unchecked resource consumption, societal decay, and political instability can lead to a state of disorganization and ultimately, decline, much like the universe's eventual heat death..and so on and so forth

So we are witnessing the death of the USA, as all of its ever increasing fractions fight in the battleground of endless conspiracies and social influencers galore... all rubbing against one another (energy losses) until one can rub no more. I think this is obvious to China, who has a different view over a different time frame and has never forgot the century of humiliation. The financial system was very poorly engineered, not to mention biased, and is going the same way as the US Empire, having lost most of its social license by corruption and "games".

Watch China exert its powerS, they are building their power, and gold is part of the power base.

https://library.si.edu/es/donate/adopt-a-book/ancient-chinese-gold

"Where we once thought ourselves collectively strong, we now regard ourselves as individually entitled." This is where we are in Oz, blessed with natural resources, cursed with aching apathy - a complete absence of passion for constructive activities or relationships, making it difficult to perform everyday tasks and engage with the world, such that we wallow in words and loathings of legacy which now stands as misunderstood and not appreciated. We get served up lame politcal parties housing career ideologues (who wouldnt even get a job as a cartoon charactor in any self respecting animation) led by academic economists who dont even understand the assumptions they make to model an economy, which is complex, nonlinear and unhindered by gaussian populations. Our national identity sinks into a swap of apologies for events buried in the past that no one really knows clearly about. Entitlement to the left of centre entitlement to the right, and no one produces anything much, except social influence? Sad new world.

Good for gold I expect

the gnome

Well we have completed our most dismal election for decades led by the most woeful pairing of "leaders" one could ever design in one's worst nightmare. I have appologised to my children for my part in delivering such an appalling situation and I am presently rowing to Indonesia where I and my loyal dog will apply for refugee status.

Gold at $3240 gives me a chance to smile.

goodluck all, we certainly need it

the gnome

Definitely not Paul

I am in the great southern Colonial outpost/prison, basking with a small group of nympho mncs, embarking on a different operation.

More realistically I have just cast my vote, in the dumbest most numbing federal election in the history of the colony. I would rather have several operations than have to go through another federal election?!

NOte: The Federal Reserve’s incoming top banking regulator, is seeking to review confidential ratings of the health of large banks, many of which had poor ratings last year.

enjoy the weekend