Member Info for mrtibbles

In this week’s Live from the Vault, Andrew Maguire offers a long-term outlook on the implementation of the BRICS currency basket, with the US dollar’s reserve currency status under threat.
Andrew Maguire precious metals expert speaks on the forthcoming unwinding of the derivatives market and forecasts a large-scale reevaluation of gold and silver.
02:42: The Clue’s in the Name - Credit
12:04: Unwinding of the Paper Markets
18:24: Phasing in the BRICS Currency Basket
24:00: Silver - the Fundamentally Undervalued Asset
26:51: Sanctions Backfire on Europe
31:00: What Drives the Gold Price?
38:20: Global Superpower Back With Gold
https://www.youtube.com/watch?v=_gJeTb7TqlA

The opinions expressed in this video of Andrew Maguire and any guest,

What's your point Sotolo?
I really don't give a f*ck about the POG, or this stinking flea pit of corruption called the UK, or indeed the Centamin share price any more!
The UK, Centamin and the present worldwide markets, political and monetary systems are all buggered, down the lavatory, the POG is wherever the manipulators want it to be, it doesn't mean it's right, but those in charge and the manipulators just don't have any integrity of moral values, all they care its all about self preservation and self interest !
If President Bolsonaro is re-elected his policies will lead to the destruction of so much of the Amazon it will have such damaging consequences on the rest of the worlds environment that it will threaten the very existence of many communities and environments the world over, and this damage will be irreversible!
But if this were not bad enough its pretty obvious that sanctions aren't going to stop President Putin and he will continue to decimate and destroy Ukraine into submission, or oblivion unless some serous combined military force is put in his way , in which case there there may be the start of WW3, or even worse out of desperation the deployment of Russian nuclear warheads in which case market manipulation and the share price of Centamin will be the last of our concerns!
15 Nov 2014 Leonard Cohen - Everybody Knows (Official Audio)
Everybody knows that the dice are loaded
Everybody rolls with their fingers crossed
Everybody knows the war is over
Everybody knows the good guys lost
Everybody knows the fight was fixed
The poor stay poor, the rich get rich
https://www.youtube.com/watch?v=Gxd23UVID7k

Tibbs

Shares in major Indian jewellers meantime lost 6% and more for the day after the Finance Ministry in Delhi reversed 2021's surprise cut to gold import duty – a move aimed at cutting the growth of gold smuggling – and took the levy back up to 12.5%.

Finance Minister Nirmala Sitharaman also imposed export taxes on crude oil and diesel on Friday, aiming to boost domestic energy supplies amid "extraordinary times" which have seen the Rupee sink to fresh all-time lows on the currency market.

Including GST sales duty, "Overall taxes on gold now rise sharply from 14% to around 18.45%," according to Somasundaram PR, regional CEO for India at the mining-industry's World Gold Council.

"Unless this is tactical and temporary, [it] will likely strengthen the grey market, with long term adverse consequences for [India's] gold market."

India's legal gold imports jumped to more than 100 tonnes in May, the highest in a year, helping the country's trade deficit widen to a new all-time record as global investors also pulled money out of what the IMF's GDP forecasts will be the fastest-growing major economy in 2022.

"Gold smuggling was falling after the duty reduction and because of Covid-19 curbs on movement of people," says a Mumbai bullion dealer speaking to Reuters. "But now it could rise again."

With domestic Indian prices rising today following the import duty hike, gold bullion fell against most other major currencies, hitting 1-month lows in Euro terms at €1715 but holding unchanged for the week in UK Pounds at £1487 as Sterling sank yet again on the FX market.

The Reserve Bank of India has been the world's heaviest central-bank gold buyer over the last 2 years, adding more than 106 tonnes to its holdings, beating Thailand (90 tonnes), Hungary (63), Brazil (62) and Egypt (45).

The Central Bank of Iraq this week said it has added 34 tonnes to its gold reserves so far this summer, a rise of 35% taking its total to 130 tonnes – inside the top 30 central-bank hoards worldwide.

Across the Gulf of Arabia, the Central Bank of Qatar also grew its gold bullion holdings on the latest data, adding more than 4 tonnes to reach nearly 56 in total.

Top News
Crypto crash

Shutterstock
Things are looking pretty shaky in the cryptoverse as a continuous flow of damaging headlines continues to rock the sector. The staunch believers are calling it a "crypto winter" before things heat up again, while the naysayers are pointing to the final demise of "tulip mania" they have been warning about for years. Those in between are acknowledging that a shakeout is underway, but feel that only the strongest players will survive in a similar fashion to the aftermath of the dot-com crash. Bitcoin (BTC-USD) is trading under $20,000 again on the developments, and only time will tell which camp prevails.

The latest: The failure of the TerraUSD "stablecoin" project in May sent shockwaves through the crypto market, while the Celsius Network froze accounts and now is preparing for a possible bankruptcy. Popular crypto-focused hedge fund Three Arrows Capital was also ordered to liquidate on Wednesday and crypto exchange CoinFLEX issued new "Recovery Value USD" tokens in an attempt to resume withdrawals. Meanwhile, Coinbase (NASDAQ:COIN) and BlockFi have said they would slash their workforces by a fifth, though others remain undeterred, like MicroStrategy's (NASDAQ:MSTR) Michael Saylor, who scooped up another 480 Bitcoins for $10M despite undergoing massive unrealized losses.

Growing concerns over the industry even prompted the SEC to deny an application to convert the Grayscale Bitcoin Trust (OTC:GBTC) - which has $13B of assets under management - into the first spot ETF. The move would have potentially led to more institutional investment, but instead turned into another negative headline surrounding the sector. Grayscale is suing the SEC in response, after the agency felt that its product failed to meet requirements "designed to prevent fraudulent and manipulative acts... and protect investors and the public interest."

DeFi outlook: Sam Bankman Fried, the 30-year-old billionaire founder of FTX, believes that more failures among crypto exchanges are coming amid the ongoing slump that has wiped off $2T in market value since November. "Some third-tier exchanges are already secretly insolvent," he told Forbes in an interview. Increasing worries are also enveloping the broader DeFi industry, such as crypto lenders whose loans are backed by little collateral and lack access to liquidity in the event of a downturn. "It's just a risky structure," said Eric Budish, an economist at the University of Chicago Booth School of Business. "It strikes me as diversified as the same way that portfolios of mortgages were diversified in 2006. It was all housing - here it's all crypto."

The UK government has today (Wednesday 29 June) announced new sanctions, hitting Putin’s inner circle.

Amongst those sanctioned is Vladimir Potanin – Russia’s second richest man and owner of major conglomerate Interros. Potanin continues to amass wealth as he supports Putin’s regime, acquiring Rosbank, and shares in Tinkoff Bank in the period since Russia’s invasion of Ukraine.
Russian imports have dropped over 40% since the invasion and stockpiles of vital imported manufacturing components are likely to be depleted in the next 3 to 6 months.

Car production is also down by 60% and Russia’s own Transport Minister has admitted that Russia’s logistical infrastructure is now “broken” as a result of sanctions.

https://www.gov.uk/government/news/uk-sanctions-russias-second-richest-man

Hi Peaky,
Having held Centamin for over a decade and more through the Arab spring two Egyptian revelations and a legal challenge (still unresolved) by a renegade Egyptian politician over the legality of the Sukari licence and the still in dispute diesel subsidy withdrawal ($20-25 million) the past three years have easily been the most trying to say the least!
Why so, well the all the other difficulties and challenges to the fortunes of Centamin were mainly caused by external and political events, which although frustrating were outside the control the company which can't be blamed for the Egyptian legal system which is a self-perpetuating industry probably two centuries out and run in a similar fashion to the mad hatters tea party!
But this time in my opinion this most dire of all situations in which the company has ever been is a result of professional failure, ineptness, complacency, or even worse deliberate and ongoing deception of shareholders and the market over a number of years!
So slick presentations at mining conferences of yet more what might be some years down the road will no longer impress, Centamin is hobbled, or possibly even totally buggered until there is some credible and definitive proof that things have changed for the better!

Does that overpaid and arrogant Mark Bristow still trophy hunt African wild life, cant stand the man or his environmental polluting and people exploiting company!

Can't wait, more promises of good times coming, Oh and give us your money!

They should invite Andrew Pardey and former mine manger Youssef to give a lecture on how to spoof share holders for over a decade with promises of unrealistic guidance and how to submerge the operation in so much waste spoil it is near inoperable and on the verge of ruination!
At these conferences the CEO's are usually jockeying for position and so over deliver the slickly presented spoof and rhetoric, but then under deliver on the promised/predicted guidance!
Considering that the Egyptian government claims that things have changed then how come none of the lazy can't be asked officials get a resolution to the in limbo court case ( of over a decade) regarding the Sukari concession and the withdrawn diesel subsidy to the the longest established and only seriously producing mine that is in partnership with EMRA?
Will this conference be yet another talking shop or will it yield some positive outcomes?
Past experience dictates that it will most likely be the former!
How many more times are Centamin going to promise the good timed coming?
For christ sake after over a decade of bullsh*t aren't we share holders not due some real results?
Sick of hearing about millions spent drilling more holes than a Swiss cheese has for no return and £30 million write downs!
just get on and clear Sukari and produce some bloody gold at a respectable cost and start making decent profits!
But lets face it we share holders usually get shafted , will this time be different?

https://www.bcg.com/industries/industrial-goods/metals-mining

https://secure.altimetry.com/?cid=MKT615522&eid=MKT645918&assetId=AST236316&page=1

Hi Halfpenny,
As we are all aware the USA economy to the most part is reliant on the FED & Wall Street cartel being able to manipulate market prices with paper contracts and dollar printing, also not forgetting by using military might and CIA tactics !

Shares of Centamin plc (LON:CEY – Get Rating) crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of GBX 89.87 ($1.10) and traded as low as GBX 81.12 ($1.00). Centamin shares last traded at GBX 81.12 ($1.00), with a volume of 2,764,098 shares trading hands.
https://www.defenseworld.net/2022/06/28/centamin-loncey-stock-price-crosses-below-two-hundred-day-moving-average-of-89-87.html

Not disputing that Centamin is one of the longest standing players in Egyptian mining , what a shame that senior management were less than honest with share holders and made such a mess at try to run Sukari it is taking three years or more to put things right!
Hardly a track record to brag about, why not do the job properly from the outset!

'They're no match for us': Ukrainian pilot says they can defeat Russia, but only with more Western help
“The Ukrainian air defense capacity was gutted in the opening few days of the war in February,” Daniel L. Davis, a military expert with Defense Priorities and a combat veteran, told Yahoo News. “Latest reports are that Russia is able to fly somewhere between 200 and 300 sorties per day. Most reliable assessments suggest Russia has had around 30 combat fixed-wing aircraft shot down during the war — which means thousands of jets fly each month and only six or seven get shot down in any given month.”

And until Ukraine can knock out Russian air defense systems, Davis warns, sending it Western fighter jets and helicopters is not likely to do much good, since those will simply be shot out of the sky.
https://uk.yahoo.com/news/theyre-no-match-for-us-ukrainian-pilot-say-they-can-defeat-russia-but-only-with-more-western-help-201712523.html

Moscow insists it has repaid the Eurobond payments in roubles using its own settlement system - which is not recognised internationally
Russia defaulted on its foreign debt for the first time in a century, as the grace period to repay roughly $100 million of bond payments expired at midnight on Sunday, according to Bloomberg.

Moscow has brushed off the event as artificial and manufactured by western countries whose sanctions barred it from making payments internationally. It has argued that it has made the coupon payments in roubles for the country's 2027 and 2047 eurobonds that are priced in US dollars, using its own settlement system, which is not recognised internationally.

A debtor cannot unilaterally change the currency of payment which is considered a violation of the terms of the bond contracts. That is generally considered a default by ratings agencies, but due to a slew of sanctions, the agencies have withdrawn their ratings.

Mr Putin doesn't care a fig about sanctions and farts in the West's general direction!
https://www.thenationalnews.com/business/markets/2022/06/27/what-a-russian-forced-debt-default-means-and-what-comes-next/

But then if Nixon can change the rules to suit the US bank cartel and Wall Street in order to manipulate the worlds commodity (inc precious metals) market prices with paper then why shouldn't Putin also change the rules to suit Russian interests?

No doubt Wall Street 7 City Traders will already have worked out ways to make money out of this!

Western sanctions against Russia , what sanction!

Why does'nt the G7 sort out this mess?

Whilst the parts of the world starve Putin steals the Ukrainian wheat and the Sudanese wheat is in danger of rotting because the Sudanese government says it has no money to buy it from its farmers!
More than 18 million people, nearly half the Sudanese population, are expected to be pushed into extreme hunger by September, according to United Nations estimates.

Russia's invasion of Ukraine, both key grain suppliers, adds to Sudan's existing food security troubles.
READ MORE
Third of all Sudanese 'food insecure in first three months of year'
Major pro-democracy group in Sudan issues blueprint for ending political crisis
Sudan's UN-brokered talks indefinitely postponed

Wheat imports from both nations make up between 70 and 80 per cent of Sudan's local market needs, according to a 2021 UN report.

Last month, dozens of wheat farmers from Sudan's Northern State staged a protest outside the agricultural bank after it refused to take their harvest.

“I grew 16 acres [6.5 hectares] of wheat this season, filling some 120 sacks amounting to a total of 12 tonnes,” farmer Modawi Ahmed told AFP.

He said the bank only agreed to buy less than half of his harvest, and he now fears the rest will spoil.
https://www.thenationalnews.com/mena/2022/06/19/sudanese-farmers-watch-wheat-harvest-rot-despite-shortage/

Mr Johnson said: “While Vladimir Putin continues his futile and unprovoked war in Ukraine and cravenly blockades millions of tonnes of grain, the world’s poorest people are inching closer to starvation. From emergency food aid to reviewing our own biofuel use, the UK is playing its part to address this pernicious global crisis.”
https://www.telegraph.co.uk/environment/2022/06/23/boris-johnson-pumps-brakes-drive-green-fuel/

Thank you Razor's,
Still thinking about banning Russian gold then, even if the ban goes ahead though the Swiss refiners and vaults will find a a way around any ban, the Swiss still haven't repatriated all the Nazi loot with it's rightful owners and India, China , Brazil Saudi's and others that support Putin will just take advantage.
The G7 should send a multinational fleet to collect grain from Ukraine and also stand up to Putin rather than observing the destruction of a nation, Putin is just like any other bully they will just take and take and wont stop until someone stands up to them.
At present Ukraine is suffering the death of a thousand cuts and if the West is'nt prepared to properly support them then they may as well lay down their weapons and let Putin take over,
The UK foreign secretary Truss is pathetic, a complete joke!
Boris is just a lying toerag who wants to remain king and shag!

A Morgan Stanley strategist for instance, recently said that the dollar's dominance is here to stay for a "very long time" as China's strict zero-COVID policy tarnishes the appeal of the yuan.
https://markets.businessinsider.com/news/currencies/dollar-dominance-shrinking-alternative-currencies-krona-won-more-attractive-imf-2022-6

Me too Razor's , so I know how you feel, makes me wonder just how much Jim knows about mining ?