Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
My understanding is Basel 3 is delayed until Jan 2023(1 yr) due to Covid. UK hav delayed again to March 2023 as per article in FT 1st November below, pasted.
Whats everyones take?
UK eased its timetable for implementing the latest global bank capital standards, but stopped short of the two-year delay recently announced by the EU, raising the prospect that British banks will be forced to comply sooner than their closest rivals. The UK’s financial regulators said on Monday they would look to implement the latest Basel III banking standards “post March 2023”, without specifying a date. The rules, which mostly streamline how banks calculate their capital, were due to come into force globally in January 2023. A planned consultation led by the Bank of England’s Prudential Regulation Authority on the implementation was also postponed from the final quarter of 2021 until the second half of next year. Regulatory experts said the financial impact of the final parts of Basel III on British banks was unclear since the UK had provided no detail on its approach to areas where national rulemakers have discretion, such as the amount of capital that banks have to set aside for potential defaults among corporate clients who do not have a rating from a credit-rating agency. The EU has previously said the measures would drive a 9 per cent increase in capital requirements for its banks by 2030. The impact in the UK could vary greatly across big wholesale banks, like Standard Chartered, and more domestically focused institutions, such as Nationwide, since the rules could lead to higher capital demands for certain areas like lending. The head of the Basel Committee for Banking Supervision, which created the regulatory package, recently told the FT there was a danger to global banks’ “level playing field” if jurisdictions implemented the rules at different times. Rod Hardcastle, a regulatory expert at Deloitte, said that whether the UK ultimately matched the EU and implemented the standards in 2025 was “very definitely the $65,000 question”. “When it was in the EU, the UK was one of the voices that was the strongest for sticking to the Basel rules and timelines. We don’t see any particular reason why the PRA’s?.?.?. position on that would change,” he said. He added that it would be “quite a challenge” for the UK to implement the reforms significantly before the EU and US, which has not yet detailed its timeframe. Jared Chebib, a regulatory expert at EY, said that if the UK’s implementation schedule was significantly different to that of the US or the EU, there would be obvious challenges for global banks headquartered in Britain. “They would be applying the rules to their consolidated operations at one point, and have to apply a potentially slightly different set of rules to their EU operations at a different point in time.” In September, a senior Bank of England official warned that the UK’s work on the final Basel III package had been “somewhat delayed” by the
Hey All.
Last year I completed all the forms and sent them back to Capia Asset Services. Capita then calledme and saidthey couldnot locate the shares, this is because they are in a Nominee account. If I take the certificate they could trace and reduce the divi by 20%.
So I had to swallow the 20%. If you have better luck, please let us all know!
cheers, the Hogg.
Id break Boris's nose given the slightest opportunity for what he has done to this country. Sorry, dont want to be political, just my humble opinion
GP holding quite well given the market if off 600 points in the US, even the emperors new clothes - 'the new gold' and soon to be reserve currency of the world is down $4100... We've fallen so much lately nice to see some resilience.
Hmmm Andrew McGuire. I listened to him to weeks ago say how gold was just about to break out and rise hugely in the next week. It then fell $80. Although I believe in gold I dont believe in him anymore Im afraid. I also dont think he talk in plain language, which I think is a smoke to keep himself sounding intelligent.
Yep, All my goldies are down, I dont even update my spreadsheet anymore, too depressing - LOL!. That said shares and gold go up and down, and with Macro Environmental issues Its a roller-coaster. I see gold going up though, when... is anyones guess, but Im not selling one and average lower when I can.
Auson
The shipping costs seem to be a combination of containers in the wrong places, consumer demand from Europe and the US being huge, some Port closures in China and greedy shipping companies. My Forwarder says he has so many customers who have packed it in completely, they cannot afford to ship. I know of a business that's had 2 containers sat in China since last October! Our manufacturer in China has rented warehouse space for all the orders customers will not ship. Ive already started buying Christmas presents. There will be no glut of products this year. Further, China has raised costs on me by 5%. Im down massively on all my current Gold investments, but Im not selling, I think the market is completely skewed, I wont sell a single share.
6 Months and we should be debt free, give or take. That's $60m a year cash at todays GP and FX. We could expect a serios dividend soon that will push up the yield. Super cheap at 16p we'll start to see the appreciate hugley IMHO.
Im sure the troubles will be gone in a week, however I pitty the people, the inflation, the cost of rebuilding, the lost businesses, closed businesses, exodus of brains and money, lack of new investment and so many job losses from companies not insured and going to the wall. Such a beautiful country, Malena should be hung.
https://www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm
Fed Borrowing now doubled since 2016, 8 Trillion total, up up and away
This time last year I was paying $2500 to ship a container from China.
This time last month I was paying $14,500
Today I'm paying $15,500
Next month they tell me they think it will got to $20,000
Ships were scrapped at the beginning of lockdown, there is insufficient capacity. It takes 2.5+ years to builds a large container ship. So perhaps its transitory, 2.5 years from now...
I import and Export, sell to UK Supermarkets n the like. Ive just been quoted $13,500 (plus £1000 UK Port Fees) to ship a 40ft container from China next month. That, for those who don't know is as opposed to $2500 all in a year or two ago. So Cost of Goods is rising hugely, my freight company say many suppliers can just not afford to ship and its affecting everyone.
In addition, in contrast, in the UK, its almost impossible to get a courier like DHL, DPD or TNT to collect from our warehouse, as their systems are overloaded, and I cant even get timed deliveries into Supermarkets because Hauliers are refusing to do times deliveries because they are short staffed and over worked. Never in 15 years have I had any of these issues. Add in the Brexit disaster, and its a right old mess. Just telling you lot as you're a sensible informed bunch and I thought Id' share as my Friday insight.
On the verge of some big market moves. Bitcoin finally tanking on the way to its real value. Inflation looming, though people are trying to say interest rates will go up. Show me a government can afford to raise interest rates. Gold always been good for inflation, it’s the reason we are all here, because we don’t trust their devious ways. Big market swings like 2020. Let’s hope gold performs again like last year.
Mr T, I dont think they can afford to raise real interest rates, the world is loaded with debt, they want they Inflation. But if they did raise rates, all hell would break loose, and that would push gold too, IMHO.
I dont understand this market, GMs are getting unloved and gold Price is weak but inflation if on the cusp? Silver is Q high but silver miners are fairing poorly. Copper is booming, signalling inflation, but even the likes of Barrick are down. What I have missed... There should be some strength somewhere give the 1.9trillion about to be agreed tomoz, combined with copper n inflation worries.
On a separate note I voted Brexit. What a fcking mistake that was.