Member Info for mrtibbles

Hi Lynny,
Yes just that , if only we could change things for the better, the problem with most revolutions is that those that lead them them and get to replace the old lot become just as bad or even worse once in power!
The very problem with our politicians!

Swiss banks drop unallocated gold to prepare for Basel III rules, London metals trader Maguire says
Submitted by cpowell on Thu, 2021-01-28 21:04 Section: Daily Dispatches
9:04p ET Thursday, January 28, 2021

In this interview with Shane Morand for Kinesis Money, London metals trader Andrew Maguire explains why the "Basel III" financial stability rules, which are soon to be imposed by the Bank for International Settlements, will push major banks out of the "daisy chain" of unallocated gold contracts and into physical gold holdings by the end of June.
https://www.gata.org/node/20845
https://arcadiaeconomics.com/andrew-maguire-what-basel-iii-means-for-gold-silver-2/
The LBMA although granted an extension until Jan 2022 will still be affected by BaseL 3 in June 2021 because all of Europe will be complying then, despite the pandemic!
https://www.eba.europa.eu/sites/default/documents/files/document_library/Publications/Reports/2020/961423/Basel%20III%20reforms%20-%202019Q4%20update%20and%20Covid%20impact.pdf

LBMA used the the pandemic as an excuse to get and extension until Jan 2021
https://www.fxstreet.com/analysis/will-the-lbma-receive-an-exemption-from-basel-iii-rules-202101291828
https://www.investing.com/analysis/basel-iii-gold-the-dollar-and-the-great-reset-200567220

Jim Rogers is not only one of the most successful investors of our era, he's also an avid scholar of history.
Seeing that the world is buried under an unprecedented mountain of debt that is requiring more and more central planner intervention to keep from imploding on itself, Jim says history is clear on what happens next.
A clearing of the debt either via massive default, or destruction of the currency it's denominated in.
He looks into the future and sees a terrible reckoning ahead; one he predicts will be "the worst economic crisis of my lifetime" -- and Jim is 78 years old.
So where should investors look to preserve the purchasing power of their wealth against what's coming?
Jim highly recommends precious metals and other commodities as an important part of the solution. As an overall index, commodities are the cheapest they've ever been vs the general stock market in over half a century.
Like many of the previous guest experts on our program, Jim maintains the near-term environment will be one of the most challenging times to invest in our lives.
Which is why he's emphatic that now, more than ever, is the time to partner with a financial advisor who understands the risks in play, can craft an appropriate portfolio strategy for you given your needs, and apply sound risk management protection where appropriate.
https://www.youtube.com/watch?v=zoGHNQvh4B0

https://www.youtube.com/watch?v=BfZh-Y-tBgM
https://www.youtube.com/watch?v=KdtlEjvRA9o
https://www.advisoryhq.com/articles/basel-i-ii-iii-iv/
https://www.pwc.com/gx/en/advisory-services/basel-iv/regulatory-toolbox-crvd-crrii.pdf
https://www.wallstreetmojo.com/basel-iii/
https://www2.deloitte.com/mm/en/pages/risk/articles/basel-iii-to-basel-iv.html

Hi Afur,
Will look out for that film, also like 'Hot Fuzz" Jim Broadbent!
I'm pretty confident that Centamin is going to do very nicely indeed if Matrin Horgan's plans come to fruition, very exciting because the company was held back by his predecessors who in many respects were only concerned with maximising output in the short term,, making promises for the long term and kicking the can down the road regarding anything else.
Thankfully though a long overdue culture change on the top table!
We don't need to concern our selves too much about the gold price as Andrew Maguire and other's have explained the Cartel only have a couple of months or so to try to finish unwinding their short position's!
I really hope the shorter's get their butt's burnt off and the LBMA goes down the pan, who will the Yanks get to help them hold down the POG then?
Decided to put another substantial purchase of Cey into my new 2021 ISA today.

Tibbs

Quite so Mr Bond,
The common people have to make do with strimmers now, not quite the same if you want to rise up and challenge your masters authority!

Hi Mr Bond,
You know what Jim Royle would say (Censorship my ar*e!)
https://www.msn.com/en-gb/entertainment/tv/other/the-royle-family-gets-discriminatory-language-warning/ar-BB1cKD4V

Hi Arfur, I agree with Mr Bond really don't concern yourself, you may have noticed how some forums seem to die or fade away at certain times if nothing much is going on with a company, or during weekends or over bank holidays.
As you may be aware over the past decade or so Centamin has been through some difficult and worrying times for share holders and during such times it can be very comforting and helpful if members know they are not alone by being able to chat to to fellow members about Ceantamin or whatever else hey wish.
I believe that sometimes when things seem hopeless and there is the chance of making ill thought through decisions it can be beneficial to divert the thought process onto something different or even trivial, you know the saying "A change s good as a rest!"
To be fair the LSE forum moderators are genrarally very fair in how they enforce the rules, no easy task when you have members like me to put up with!
Anyway keep your interesting posts coming!
Yes I saved Steve's link of Lord Snooty on my YouTube favourites, sent the link to several friends, brilliant ,still can't believe how anyone could vote for arrogant 'Snooty"!
Enjoy the Black Books!
I'm going to watch Alfred Burke (Frank Marker) in a recording of "Public Eye" now (thinks its on channel 81)
Also brilliant Alfred Burke "Enemy at the door" about the German occupation of the channel islands (also on channel 81)
Also big fan of Inspector Montalbano BBC 4 & iplayer
https://www.bbc.co.uk/programmes/b01cbq6b

Tibbs

Hi Cowichan,
Well spotted, as Dasut has explained it makes economic sense to use experienced specialist contractors, all coming together now for the expansion in Eygpt and possibly other area's of West Africa?

Best

Couldn't agree more, 20 years ago I attended some further training courses at he college near the big general hospital two days and evening a week over three years, lovely walk by the river between the main college and the annex, I enjoyed Leicester then, probably changed a lot now though!
Few councils seems to care about doing things properly any more to the basic infrastructure and open spaces in so many of out towns now, ts all about promises on websites and excuses on facebook!

Correct Autonomy1,
Although it might be claimed the case is still going on there is no real progress because there is a fear of spending more money, that the council doesn't have on legal fee's to get nowhere, there is also no will to expose those responsible because it would open even more cans of worms!
Even District Audit completely failed in their duty, if they had acted earlier to all the information they were given the whole affair could have been avoided, but they didn't so they are more concerned about covering their butts now!
It is indeed a sorry, shocking tale that despite the years of ongoing efforts of those former councilors, former officers and towns people that tried to stop the whole thing before the completion carried on to a corrupt conclusion.
In a nutshell the best interests of a bankrupt local football club, it's 2500 members, and the political ambitions of a possibly corrupt council leader to be MP took priority over the best interests of the 250,000 townspeople, that's politics for you!
Also the local /county councils were so inept and wasted so much money they were in effect insolvent ,so they got put into special measures and a new authority has been created,still inhabited by many of the same old lot.

Hi Rebess,
It's not my intention to mislead or give anyone false expectations.
You know me well enough by now and what I have been up to over the years on this, my thoughts are based an original conversion with a reliable acquaintance a while back, can't really say anymore in the public domain, but you understand what I'm getting at about the outstanding issues and as you say there is lots in the pot that both sides want to sort out if ways can be found, Martin Horgan is a cut or two above the last bloke and is I understand highly respected by Centamin's Egyptian partners.

If, and I say if Centamin should get reimbursed some or over a period of time all of the disputed lost fuel subsidy then that would indeed be a nice and substantial (millions of $)boost to the company coffers!
Assuming Centamin was to be paid back the disputed lost fuel subsidy of the original contracts terms the amount is such that it may be difficult or impossible the Egyptian government repay it all at once.
Possible solutions if acceptable to all parties concerned may be
That the amount owing is repaid in stages over an agreed period.
Or might there be another way that is easier and less painful for the Egyptian government to square up the account that would also highlight its success with the latest concession terms in opening up Egypt's unexploited mining reserves to international companies.
It makes sense that all mining concessions should adhere to common or standardised concession terms and so it would seem unwise, even unfair to risk causing operational and potential production/ profit auditing problems by having the longest established mining partner in Eygpt with differing contract terms across its Egyptian concessions.
As we realise the existing Sukari contract on profit share is more generous to the Egyptian government than the latest concession terms, although if the exiting contract terms and conditions of the Sukari franchise were to be brought in line with the latest standard concession terms across Eygpt then a new Sukari concession contract/ license would have to be issued which would then make the court case null and void.
In effect this would solve two long standing unresolved issues ,the court case and the disputed diesel fuel subsidy , although the reduction in profit share on the new terms over a period of time should eventually repay the outstanding fuel subsidy back to Centamin.
Obviously these are just possibility , nothing certain, but possibly Martin Horgan has had similar lines of thought and even been negotiating along these lines, who knows?
Hopefully all will be announced before too long! li

Your absolutely right on that Mike, they are all up-to having family working for them, you might be amazed if you don't already know what a new MP gets each time to set up an office and pay their staff!
Have a look on the parliamentary website, its all there!
Our Tory MP (Former council leader)was forced to stand down due to agreeing to a local football club owner taking over a £6 million community stadium on a £1.00 a year lease and then arranging a Public Works Board Loan for £11 million through the council so the private owner could develop the stadium facilities for the town football club.
The football club owner was then given planning consent to build ra hotel, retail units and housing on the land around the stadium, so the numbers stacked up!
Although the private football club chairman leased a Bentley, then set up two companies in other peoples names and drew down the £11 million to build himself hug mansion in a village just outside of town, his brother also on the pay role of the developmental company ran up millions of pounds of debt with contracts to the stadium development who stopped work due to non payment.
In the meantime one of the projects partners arrange lavish pre MP election parties with celebrities n London the try get the Tory council leader elected as MP.
Cutting a long saga short the Tory council failed to carry out due diligence on how the loan was spent and the football club owner put the mansion in his wife's name, all the money has gone, the house can't be touched and the council tax payer is now having to repay the loan to central government over 40 years at an interest rate of over 4% rather then the usual 0.5% PWB loan rate because the loan had been obtained under false pretences for use by a private individuals business.
The case went to District Audit and then court , the council lost a million pounds in legal costs, and the £11 million, the private football club owner got off and the former MP got a job in Tory central office.
Our town could have elected a decent local chap who stood for Labour, but instead chose another Tory who lives over 80 miles away, drives a Bentley and claims £130 in expenses and rail travel each time he visits his constituency for a surgery or meeting.
What's wrong with our country, nothing really, it's the 'Fecking' politicians and the way they are elected that's wrong!
Sorry its off topic!

But really good news about Centamin, I think once the full details become apparent ( I heard that Martin Horgan is really excited) to the market then we shall see some positive movement on the SP!

Thank you for reminding me of that TV comedy series based on the suffragette movement, we has been unable to remember the name, but after your post I can now order the series, on DVD, really wished they had made more, I had mixed feeling before watching as I didn't want to trivialise the bravery or suffering of those marvellous pioneers who fought for the women's vote.
But the series was so well done my fleers were unfounded!
Sorry its off topic, but I forgot to thank you yesterday!
Tibbs

Cornish mining and taxation
After 1337 and the formation of the Duchy of Cornwall all tin was taxed. The Duke, or the Crown in the absence of a Duke, took their cut. In return the Crown guaranteed the rights of tinners and helped to produce a tradition of the independence among tinners
https://bernarddeacon.com/mining/cornish-mining-a-short-history/
https://www.cornwallforever.co.uk/history/1815-1920-the-great-emigration
https://www.bbc.co.uk/news/uk-england-cornwall-17547490

Good points Mr Bond,
Indeed as we enjoy ourselves in Cornwall its all to easy to forget just how dangerous those spectacular surrounding costliness and sea's can be!
https://wiki2.org/en/List_of_shipwrecks_of_Cornwall
https://www.cornwalllive.com/news/history/modern-shipwrecks-cornwall-told-11-952229
https://www.cornwalllive.com/news/history/how-hms-anson-shipwreck-cornwall-2744496
https://www.cornwalls.co.uk/mousehole/penlee_lifeboat.htm

Thank you Mr Gnome,
The letter detailing the concerns of the NSW police Chief Constable is indeed interesting, the concerns raised are very valid.
Whilst I understand and agree the coronavirus threat is serious I feel it has been used as an excuse by the UK government to use draconian measures more typical of a South American fascist dictatorship enforced by the police service and and private sector security agencies to suppress civil liberties, freedom of opinion and individual freedoms, not forgetting it has also been a convenient opportunity to gloss over the the failures of past and present Tory policies and the Boris Bullsh*t's lies before and since he became our PM!
The pandemic has also given many big companies,bank's,and some rother etail traders the opportunity to cut jobs and indeed do away with telephone help centre staff,.
The internet is a fine thing but in some instances abused and to make everyone dependant upon internet chat with a computor programme is not an acceptable alternative to speaking to a real person, it also denies those in society that don't have access ,or choose not to use a computor/App for whatever reason of receiving the customer service they are entitled to,
Once again the ordinary people get screwed and many will accept it and those that don't for whatever reason will be told to get an app or are just ignored!
Recovery from Covid to normality indeed, I fear the new normality will be very different for a very long time and in most instances, not for the better!
Just to be clear this isn't a criticism of the UK 'per say", but an observation and criticism of the those deceitful, lying, greedy parasites that form it's government!

Point taken Autonomy, your observation was valid and interesting though, so thank you1

Agreed Lynny, Love Sweden and Denmark on the time's we have visited, the Scandinavian's seen happy and to have a lot of things sorted