Member Info for MontyMcgree

"Telfer has a negative value and that can be used to negotiate a lower price"

How much would it cost, and just as importantly how long would it take to build something new?

Telfer on its own yes not great, Telfer combined with Hav has great value

I don't think it fits in realm of possibility NCM or Newmont would want to stall generating making hundreds of millions from Hav

" Bamps think he’s a geologist! Laughable"

Personally I appreciate and am always impressed with Bamps knowledge, clearly he enjoys the topic and has put a lot of time into learning

I don't know anything about geology so whether he is always 100% right I couldn't tell you

If you think Bamps knowledge is laughable, please share why? correct where you think he is going wrong - if you cant then you don't know enough to say he is wrong so its an empty personal attack.

Chart wise it looks quite clear and straight forward to me - https://imgur.com/q3WMti5.png

When price gets above the top red line its sold until its back under, this has happened for 2 years, so until we break out its same old same old

Top is currently only 8p bottom is about 4p, surely breaking out soon above 8p you would think.. but time will tell as ever.

That I can agree with Speedy on

Also, I will clarify as I've said before, I like gold myself and started buying physical gold in 2014, i was a daily member of a precious metals forum for years until I was banned for not getting along with the owner (can you believe it?? lol)

So I am very familiar with all the gold bug ideology and took it as fact myself until I actually went down the rabbit hole in 2020 and bothered to learn was QE is

God bless Jeff Snider.

"the fraudulent banks scammed investors by parceling non performing assets and selling them as good investments. It took a massive amount of QE over many years to right the wrong."

It isnt about investments

Banks needs to hold a certain amount of reserves to balance their books

MBS were triple A rated because they were underwritten, which means on the banks books they were as good as holding cash or treasuries

MBS stopped being underwritten so they were no longer triple A rated so books were no longer balanced

What big financial institutions do is hold treasuries to balance their books, but then off-book they go to the eurodollar market and use the treasuries as collateral for short term low interest loans - they basically have double the money holding treasuries rather than just currency

^ That is what they were doing with MBS, so they basically had double the money, then all of a sudden they didnt and were illiquid.. because again, MBS no longer counted as triple A and no one wanted to accept it as collateral

The Fed actually made hundreds of billions on the MBS they swapped treasuries and bank reserves for, because it was nothing to do with the investment side it was the do with LIQUDITY which is king

**I am not interested in "learning"**

I can tell, and yet I am still compelled to try :(

"Hi GGP thruandtrue. Think back to 2008. The banking system was on its knees and took $trillions of tax payers funds to bail them out causing massive inflation that we are witnessing now. "

Speedy, I am sorry for my wording as its mildly rude/condescending, but that is such a gross misunderstanding of what happened I am shocked

Its the exact complete opposite of what you said, the big money printing was happening leading up to 2008 because MBS was being treated as the same type of pristine collateral as US treasuries, they were being used to get to get short term dollar loans for liquidity

But then they stopped being underwritten

"This process was later disparaged as "ratings laundering" or a way of transforming "dross into gold" by some business journalists"

So suddenly all these big money entities that were relying on MBS for short term loans aka liquidity/dollars had no access to dollars because no one wanted to accept them as collateral, so they became illiquid and had to do a fire sale so they could get dollars and ultimately had to be bailed out

That was massive wealth destruction not inflationary

You preach so much on here about gold like the pied piper yet you refuse to learn anything

My opinion on costas charting was he deflects not being able to answer anything by talking in riddles and acting superior, so listening to his presentation should be fun for you guys.

Any particular reason you feel now is a ideal opportunity?

mercedesman I agree, In an ideal wold an hours work in 2023 would be the same as in 2053 and you could squirrel away your labour like nuts to be worth the same in retirement

People shouldn't have to be investment experts just to save the value they have contributed

Did the gold standard ever deliver that? I am genuinely asking but I am pretty sure the answer is no.

You don't use gold as a currency because you don't spend it Speedy,

To be clear I am not saying there isn't a better, fairer system of money than the one we currently have, I just don't see how we can move away from the current system without everything collapsing unless its a slow transition.

^ And if everything collapses there will be more to worry about than gold.

Mkiv, we live in a debt based system where exponential new debt (currency) needs to be created to service the old debt and still have currency in circulation, you need a little inflation to make it work, you need consumers spending

If you have a currency that rises in value just sitting on it then no one would spend it, similar to have bitcoin has turned out, that breaks the whole system

If you see currency as a tool it works well, if you see it as a store of value then yes its bad, but fortunately youre free to swap your currency for something you believe is a good store of value

"Hi Monty. I am fully aware of the need for a "currency" it is the $ and all fiat currencies that are worthless."

Speedy, try and follow me

If I have a £50 tesco voucher is it worthless? its just a piece of paper with a code on.. it has value because tesco will agree I can swap it for food etc

If I have £ pounds I can also swap them for food :O I can also use them to pay my bills so I keep water, gas, electricity (very nice to have those) pay my mortgage and buy other things such as gold! and very importantly pay taxes so I dont have my freedom taken from me.

How much do you value the necessities of life? then you have to value currency because that is how the whole system is set up an as long as thats the game you need currency

Its like if you play chess: the queen is just a piece of wood or plastic, useless, not good for anything really.. but within the game of chess its the most valuable piece so we cant pretend its useless? that is to deny the reality of the game and rules

Stop denying the game you live in, the system that is set up and you will see currency has value.

speedy, again, you need currency to pay your debts, and for goods and services

Try not paying your taxes, tell them not to worry about it because currency is worthless, see what happens

Its like saying electricity is worthless; well yeah unless you have ways to apply it then its very very useful

See what happens when there are global liquidity problems, they sell off their gold.. why? because its no good holding gold and being bankrupt you will be forced to firesale it anyway, currency and liquidity is king, that is how the world works

Currency being worthless is a very thoughtless argument, please.

Speedy I dont think your reply addressed anything

Another point: If the only utility of gold in the gold standard would be to restrict money printing then crypto works better and unlike gold which, as I'm sure you know, people dont believe the amounts held in vaults anyway, you would be able to have clear transparency on the blockchain

So why, if governments did want to tie their hands (which they wouldn't want to do) would they choose gold instead of crypto/blockchain

No part of returning to the gold standard makes much sense.

PortfolioPower I watched that many years ago, its well made, simple and easy to watch by some of it is just wrong, for instance he talks about the Federal Reserve creating an iou to swap for treasuries from primary dealers (big banks) and "currency just spring into existence" but that is a lie, they fed swap them for bank reserves which is purely numbers on an account at the fed that cannot leave the fed, not currency that can be spent

Also "The Money Masters" and "The Secret of Oz" by Bill Still are a fun watch

But if you really want to learn about it all you need to watch/read Jeffrey Snider and learn about the eurodollar system

Speedy, that is not correct, have you learned about the eurodollar system? I already know the answer is no, look into it

The eurodollar system grew after WW2 with the Marshall plan, 13 billion in 1948 had turned into 385 billion by 1970

So the gold standard did nothing to restrict the growth of currency and the eurodollar system had already replaced it before it was officially axed

So we have established then gold standard did not restrict currency so lets move on to value

Currency has value because built in because we need it to pay debts and to exchange for goods and services

^ If you hid 1000 gold coins around London tomorrow what would the people do who found them? swap them for cash to buy what they want, gold is just an extra unneeded step

Just to be clear, a gold backed global currency wont happen and shows a total lack of knowledge about what currency is and how it works

Gold bugs, for how passionate they are about money/currency just totally refuse to learn how it works, its really frustrating

"shorters are in trouble now!" rhetoric was also insufferable

Just unimaginative trolls who can only think of sp down = sd bad!

It is grating reading the same thing over and over again, I wish they would at least put some effort into it and come up with some plausible negativity

I think its the same people who troll memorial pages on fb

Yes, you can check their twitter to see when they will be live - https://twitter.com/GGPHelp/status/1625208976517304334