Member Info for JiffyBag

The other side of the coin is that inorder to become a legitimate payments provider/DEFI we will have to engage in some way or another with the the likes of the FCA and the BIS that will add further costs to the model?

Overall, I think the GST model is in no way as complicated in theory as of the likes of BTC and the other myriad of bogus cryptos, maybe GST will just have to scale down their aspirations.

All we want for now is a pure simple payments process that does not require we have to become a bank..........IMHO.

RK,

Thanks for the video, very interesting, just watched it now.

I must admit much of it, is above my head, but I do I agree with your point 'The majority of people have no understanding of DE FI and think bitcoin is just some get rich quick gamble. Equally they will lump in with that , Blockchain and any other crypto token system out of pure ignorance but will still accept that inflation has already eroded their pathetic FIAT money and will continue to do so.'

Maybe what this all boils down is that the central banks are wanting a slice of the pie as commercial banks stand to lose out with a successful DEFI etc. Of course they are using the regulatory approach of KYC etc, and money laundering as an excuse in order to gain embedded regulation and transparency etc. It's all transparent anyway if a transaction is recorded on the blockchain, so I am somewhat confused on this point.

Thing is though, the GST model is just a simple payments process that uses blockchain to prove ownership and validity, but I do take on board your points.

The other side of the coin is that inorder to become a

Starvest currently holds 82,000,000 shares in Greatland Gold plc representing 2.2% of the company.

https://www.investegate.co.uk/starvest-plc--sve-/rns/update-on-investee-company---greatland-gold-plc/202005051405430019M/

Starvest still hold 82 M shares!

Rk,

Theoretically once the Lithuanian licence is granted / Angra etc this would then meet the minimum requirements and relevant Stablecoin legislation has been passed in the UK IMHO.

ie

The GST model is designed to be backed up by FIAT, ie US dollar, GBP, etc (See GST Propspectus).for that info on the GST website etc.

https://www.gstechnologies.co.uk/post/placing-to-raise-1-4m-publication-of-prospectus

'GS Money App, a mobile neobank application offering fee-free cross border payments. This new payment service is intended to use regulated stablecoins and blockchain-based 'bank accounts' to instantly transfer value between US dollars, Sterling, Euros and Chinese Yuan via a mobile device without foreign exchange mark-ups or additional fees. Once launched, the GS Money App intends to operate as a European Electronic Money Institution (EMI) licenced service, subject to the appropriate approvals being received. The GS Money App will not follow a banking/lending business model and it will not be engaging in fractional reserve practices as undertaken by banks. The cash reserve will be transparently managed by an EU registered entity that is yet to be established or acquired. Every stablecoin token will be backed 1-to-1 with real currency.'

https://www.linklaters.com/en/insights/blogs/fintechlinks/2022/april/uk-open-for-crypto-businesses-as-it-points-to-flexible-future-regulation

'The Electronic Money Regulations 2011 (EMRs) will be adjusted to cater for “payment cryptoassets”. Broadly these will cover “any cryptographically secured digital representation of monetary value which is, among other things stabilised by reference to one or more fiat currencies and/or is issued and used as a means of making payment transactions”. The precise boundaries remain to be seen but cryptoassets linked to other types of assets (like commodities or cryptoassets) would be out of scope, as would those which are stabilised using algorithms. As a result, we would expect that most stablecoins that are used to facilitate activity in the crypto markets will, at least initially, not be caught by the regime. '

Just another thought, maybe its a facility offered to those with DMA? (Direct Market Access) not sure.

https://www.investing.com/commodities/gold

The Big, Big, Big question in all of this Carp, is......Why on Earth have we seen so many large trades cancelled the next day, or the day after on this BB/LSE trades?

They don't appear to be replicated on downloads from the London Stock exchange, further the original not reversal trades are still maintained in the London Stock Exchange downloads. T

Those are my observations so far.

This in itself is 'Spoofing' is it not?

Secondly, this has been going on now for several months, IMHO.

I can get a sell quote for 500,000 , but no more than that :O)

Spoofing – is the UK FCA catching up with US enforcement trends?
https://riskandcompliance.freshfields.com/post/102gifp/spoofing-is-the-uk-fca-catching-up-with-us-enforcement-trends

Cancelled buys from the 15th?
15-Jun-22 15:35:24 11.1 -100,000 Unknown* 10.5 11 -11.10k (printed today)
15-Jun-22 08:04:13 10.49 -199,584 Unknown* 10.5 11 -20.94k (printed today)
15-Jun-22 08:04:13 10.49 199,584 Buy* 10.4 10.5 20.94k
15-Jun-22 15:35:24 11.1 100,000 Buy* 10.9 11.2 11.10k

No not Dodgy , mmmmm, WTF is going on!

JB, Re: Pacific Trends

1. When you say...'Is this the makings of a perfect storm for JPM et al?' are you suggesting that this potential scenario will be in JPM's favour? , ie such a volume of shares hitting the market because of your assertion...'From what I can find, Pacific are struggling.' etc ..................and so my conclusion they would immediately sell?

2. I also looked at Pacific Trends interests etc

Thinking about the Contingent Liability/prospect of having to to issue a further 145m shares in GGP.

I note that Flyn Gold owned by PT, also have interests in North East Tasmania close by to GGP's tenemant's Warrentinna & Firetower.

Link for Flyn Golds Annual Report

https://www.asx.com.au/asxpdf/20210921/pdf/450qdjnlykxnh8.pdf

Lets do a deal was my thinking???????? with no issue of a further 145m shares?????????????

Just a thought, might well be barking up the wrong tree :O)

Jeez Monty, your very touchy:O)

1. Re:" I resent you suggesting ive tried to be pompous by making it more confusing that it needs to be, someone asked me a question and I took my time to write out the best answer I could"

Your words re 'Pompous' not mine.

2.Re: "If you think what I wrote was confusing this is a lil snippet from a recent Jeff Snider article talking about the Eurodollars future curve. "All curves are essentially probability distributions, and what that means is when inverted the market is hedging a very high possibility something bad happens between now and that contract (and those behind) which would lead to 3-month LIBOR being less than before that point on the curve."

This is where the average GGP investor really does become overly confused by your writings if you get my drift, so break it down into plain simple English with examples etc.

3.Re:' Yeah I get it, it is a headache, that is why I said earlier in the thread rather than bothering to understand how things really work with money "people love the narrative that central banks and government control money, that they print it at will'

But they the UK government and the BOE do print at will, see my earler post re Mervyn King video etc.

4. Re: "so you better have gold and silver to protect yourself; its easy to understand"

I think Speedie has already answered that point, re a store of value in that one would rather hold gold under such a regime as compared to a depreciating FIAT currency etc, and I agree with that stance.

https://www.youtube.com/watch?v=vHk5SD_E_wI

'China almost certainly owns more gold than the US. But how much? Here's why it matters. Dominic Frisby explains. '

Hi Spade,

Agree, it's all very confusing, but maybe it is suppossed to be painted as so? :O)

Bottom line, matters not a Jot to me, bought another 20,000 of GGP today at BM Bargains:O)

Long may it continue.

One of the best interviews re inflation and monetary policy I have recently watched is this,(Mervyn King) we are in all probability in for a rough time in the months ahead, but that IMHO does not neccesarily mean that GGP and the price of Gold will all of a sudden take a nosedive.As Paddy has pointd out GGP will eventually be earning AUS dollars etc.
https://www.youtube.com/watch?v=B6Zb_AvxT8g

Ask yourself why the Chinese and Russians are buying as much Gold as they can etc. In the longer term the US dollar is depreciating day by day via inflation etc, how long can this mad printing continue?

Title should read: Behind the Scenes? :O)

Seems like a lot is going on in the background re trials and UK legislation etc, hope GST are up to speed :O)

https://www.linklaters.com/en/insights/blogs/fintechlinks/2022/april/uk-open-for-crypto-businesses-as-it-points-to-flexible-future-regulation

Hi Spade,

Thanks for your thoughts.

It may well be that they Sprott or their ETF fund as you say, are forced to act should the Market Cap fall and therefore have to sell etc.

Will be interesting to see what they do after the 5% scenario has been resolved given ST's comments, and that in the main is why they sold by all accounts.

I still think however that they will be back in again at some point, once this is finalised, IMHO.

Hi Spade,

What is your honest opinion now, re Sprott et al?

Has it changed your oulook re Sprotts re their latest sell off?

Do you still trust Sprott/ Steve Todrick, re your communications with him?

Your comment:

'So there you have it, looks like Sprott definitely seeing this through to the end game.

I don’t know about the rest of you but, that’s certainly good enough for me to carry on.'

Conversley, you might be onto something?

https://www.youtube.com/watch?v=vHk5SD_E_wI

'China almost certainly owns more gold than the US. But how much? Here's why it matters. Dominic Frisby explains. '