Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
I wonder if there is history of a mine getting 80% of the way to a ore body by digging an over 2 km's long tunnel but then never becoming a producing mine? It 'feels' like this will get there, the uncertainty is by who and when? Big factors for those keen to have money working for them elsewhere but not exactly a death sentence/bail signal?
It's a couple of pages, that looks like a *** packet calculation, albeit by an extensively experienced groups, this sentence says as much no ? "Looking ahead, clarity on the scale and grade of Havieron in the upcoming
DFS is technically the key catalyst." They are projecting/modelling as per this "a subset of our modelled 9Moz SLOS" and so I assume from what they see they are extrapolating, ok perhaps more than others, but such a report is always going to be somewhat speculative?
It's an interesting topic, if such a board had existed in the past, in a time of gold backing, the idea of the current Fiat system would have been ridiculed just as much, perhaps more? That we live and have lived for so long in the current system arguably doesn't make it anymore sensible. Monty's point about digging up Gold and then transferring it to pounds to actually use, overlooks the fact that if it had been currency buried 100 years ago it'd buy you very little, the Gold would get you roughly the same amount of stuff as it would when it was buried, that makes it more valuable than currency to me.
Gold (or anything) backing doesn't suit the powerful as it makes us trade honestly, once we left the Gold standard the west has run trade deficits for every year bar a couple and so they've been able to just owe countries dollars and not anything physical. It feels like they have a unlimited credit card when others don't, perhaps being born on the right side of all this blinkers us to the reality. Or perhaps we deserve our wealth from all our hard work and other countries could do the same if only they all worked a bit harder?
Ultimately all money is just storing valuable work done before it is spent on something (nearly always tangible) useful, if not by you by your descendants and we all have to make judgements on what medium that might be best (real estate/shares/gold etc) but over anything but a very short timeline it's never currency.
It's an interesting topic, if such a board had existed in the past, in a time of gold backing, the idea of the current Fiat system would have been ridiculed just as much, perhaps more? That we live and have lived for so long in the current system arguably doesn't make it anymore sensible. Monty's point about digging up Gold and then transferring it to pounds to actually use, overlooks the fact that if it had been currency buried 100 years ago it'd buy you very little, the Gold would get you roughly the same amount of stuff as it would when it was buried, that makes it more valuable than currency to me.
Gold (or anything) backing doesn't suit the powerful as it makes us trade honestly, once we left the Gold standard the west has run trade deficits for every year bar a couple and so they've been able to just owe countries dollars and not anything physical. It feels like they have a unlimited credit card when others don't, perhaps being born on the right side of all this blinkers us to the reality. Or perhaps we deserve our wealth from all our hard work and other countries could do the same if only they all worked a bit harder?
Ultimately all money is just storing valuable work done before it is spent on something (nearly always tangible) useful, if not by you by your descendants and we all have to make judgements on what medium that might be best (real estate/shares/gold etc) but over anything but a very short timeline it's never currency.
second question might be, where was Dibs advice from.......answer a semi anonymous chat board...case dismissed.
Personal responsibility, no one knows how it'll pan out.
Summit, I spose they do what they have been doing and just create more debt/bonds and so 'print' more money for now and worry about tomorrow er tomorrow!? ie just continuing the cycle. Japan have been doing it for far longer, where/how does it end.............doesn't feel like it'll be happy ending (partly why we are all in Gold to a degree?)
All conflict is horrific and those fighting and being injured or dying are nearly all innocents, pawns in a game, the instigators of which stay well away from the action.
I found this lecture from 2015 very interesting https://www.youtube.com/watch?v=JrMiSQAGOS4
The Egyptians have seen a huge drop in their currency. They could be the next Sri Lanka at this rate, their central bank is cherry picking what foreign bills are allowed to be paid as we speak.
Anecdotal account but it seems they, Central bank of Egypt, are still holding on to dollars post the IMF support package, which ultimately could affect any business importing things, with the obvious knock on risk to operations. I'm just highlighting a risk that's affecting me personally in a non mining related but very much Egypt related business payment issue. Will report back if as I'm hoping it all returns to some sort of normality.
I think the Germans get serious winters out there, so isn't it his duty to try and resolve things......
https://www.dw.com/en/german-residents-make-plans-amid-fears-of-a-winter-gas-shortage/a-62482737
So we aren't in a MMT situation? They aren't doing any money creation?
What you describe is just a movement of money around...."No gain, nothing extra" but something must have improved for them to bother doing this, what do you see as the benefit in doing this?
Monty, what nearly happened in 2008? The same (if not individuals) type of people nearly brought the system down between them., so arguably they didn't know how it worked or they just ploughed on regardless?
The monetary system as it stands may not work forever is I think the point?
You talk a lot about Repo but from what I can find "The Fed launched its reverse repo program (RRP) in 2013" So the system was better before or worse? why was it not needed before and is now, and it's use growing, is that a good sign, is it crutch for a semi broken system or did the great financial masterminds miss this trick for decades previously? ( I have no idea myself but it whiffs a bit to my cynical self)
TomE sorry if we are boring you! there has been one poster stating it's reinforced his view on GGP.
So he appreciated it, you don't, just one of those things? It's not like the financial system and Golds relevance isn't important to GGP?
Monty re Jeff (I know him) the last sentence doesn't that just mean that we are short stuff compared to the amount of 'money' out there, ergo the inflation we are seeing?
The Mike Maloney video is quite old now (watch a youtube video of him today!) so the powers that be have can kicked successfully for years. But who down your street at your work knows what this video contains or means, even after watching its hard to work our the ramifications, and we do have to operate in this system day to day. The same people that created, legislate and operate this system have Gold as a backup so that's good enough for me to do the same (even though we are never encouraged to do so and are considered odd!) Happy to stay here being 'wrong' as everywhere else for my money feels worse!?
Bancal, this link below might help to further understand, it's a good watch/listen.
https://www.youtube.com/watch?v=yVBkQW8Baq8
Monty, if everyone starts out with and ends up with $100 what is the point?
Is this not relevant? Fed stopping there reporting of M1/M2?
https://fred.stlouisfed.org/series/M1