Member Info for RedSparrow7

Mr Tibbles wrote: "Snot & gobble custard!".
I have never heard of that expression before. That is so funny - It's the sort of thing that brings out the kid in me.
That's the funniest line on this board this year (so far).
Please God, I never want to grow up!

Thanks Rebess for putting that link up.
I suppose the real question about Basel III and gold paper contracts is why governments are keen to allow physical gold to be held by institutions as a tier 1 asset. My own view is that down the line, (fiat) money with be linked in some way to a basket of commodities of which gold and silver will form part. Setting the printing presses alight at the first sign of economic trouble, does not solve the problem. Dealing with the problem just gets put off, and gets worse in the future. Perhaps there is some sort of recognition of this by politicians. Well, I can dream, I suppose.
If Europe and the US are abiding by the Basel III rules now, they won't allow Britain to keep avoiding them for long.

I think people who post on here are pretty genuine, on the whole. We get some traders who buy and post buy recommendations. I see nothing wrong with that, and we know who the traders are - nice enough bunch. We've had the odd person trying to worry some longer-term holders into selling - the 80p merchants. But they get rubbished by those who know this company inside out. Besides, if you've held since the £2 days, you're not likely to sell now.
The bottom line is that the price of gold is a function of people's confidence in government. Certainly that confidence is draining away by the day because the lunatics have taken over the asylum. It is so obvious to anyone with half a brain. In fact, the current joke doing the rounds is:
What's the difference between a conspiracy theory and actual government policy?
Answer: About six months.

https://www.lse.co.uk/SharePrice.asp?shareprice=BMN&share=Bushveld-Minerals
It was on BMN, Mr Tibbles. I heard about it reading the SLP board today.
The actual post has been copied by InstantExpert below.

Well, we've had someone called FireAnt posting on this board. Look at his profile and turn to page 12 for his/her last Centamin post. I can't see too much there to think he/she is a boiler-room bod.
Hedge funds and bullion banks deal with billions of dollars worth of trade over a month. I really don't think a few posts on a bulletin board will amount to much for them. They can raise or drop the price of a share at will to trigger stop losses if they wish. There's no need to pay a group of hopefuls to try and manipulate the price. I'm more worried about some of these analysts spouting their nonsense, like the last lot a few weeks ago.
As for Centamin's poor performance of late, you haven't seen my Newgold and Yamana Gold prices - I won't mention Pan American Silver or Platinum Group Metals. Cefn atrocious! Actually, Centamin's doing quite well... a good report next week and I may treat maself to a wee kipper for tea.
You'll no get ya hands on ma gold.

Some light reading while we wait.
https://moneyweek.com/investments/commodities/gold/603559/gold-price-pounds-sterling-disappointing-year
The best I can do is buy gold and Centamin when I think they are cheap. They are cheap now, but can get cheaper (I suppose). I have enough Centamin, but will reinvest all those dividends. I wouldn't mind some more gold and to get some silver, though.
Sylvania Platinum could be on the cards as well, at some stage.
CPI inflation is 2.5%.
I think Jim Royle would have something to say about that.

Most people believe that in 2020, the most frequently washed body part was the hand(s).
In fact, it was the brain.

Is there a trading update next week? I thought the next update was the Q2 report according to the Cenatamin website.
https://www.centamin.com/investors/investor-calendar/

Money is still piling into tech stocks and leaving the gold and silver miners behind. I've seen various predictions for when the tech bubble will burst! One thing for sure is that nearly all the people 'investing' in tech will lose their money. When the tech bubble burst in 2000, gold didn't come down much so I'm hoping for the same this time around.
The lull in the gold price will give Centamin the chance to get Sukari in top shape for when gold is in favour again. So, in another 18months from now, the WA assets may find new homes for a better price, if that is how Martin Horgan plans to do business.
Time and chance happeneth to them all.

Hi Mr Tibbles
I think the noise in those tanks must have been terrible.
My paternal great grandfather served in the British Army during WW1 and fought on the Somme. My dad used to say that he always complained of rheumatism and arthritis in his legs because of standing constantly in water and mud for days on end in the trenches. My father was in the Navy, and he also had arthritis in his hips and knees - so I think it was hereditary. I never knew any of my grandparents - they had all died before I was born. My maternal great grandfather was posted to Palestine during WW1, so probably in part of today's Israel. I had an uncle in the 8th Army during WWII - he had so many amazing stories. You couldn't tell him much about life and death.
I really must look into my ancestoral past. A retirement project, I think.

It looks like WorldQuant have been adding some shorts lately, but no one else for the moment. I noticed the other day that someone bought well over 1 million, so swings and roundabouts.
https://shorttracker.co.uk/company/JE00B5TT1872/

Hi Mr Tibbles
On the subject of tanks, I visited the Queensland Museum in Brisbane a few years ago. They have the only surviving example of a German WW1 tank, dug out of the mud in No Man's Land somewhere in France. Usually, this tank is displayed in a see-through cover, but when I was there, the cover had been removed for some work to be carried out. The lady curator said that she'd worked at the museum for many years and it was the first time she had seen the tank without the cover. And it was only coming off for a couple of days.
It was perfect timing by me. I took some photos of it because of the rarity of the situation, but it was frankly wasted on me. It's a pity I can't load up the photos on this board for any tank enthusiasts. I took 3 photos which are OK - I'm not an expert. There is a photo on Wiki:
https://upload.wikimedia.org/wikipedia/commons/4/4b/Captured_A7V_Tank.png

No change there, then. We may not get a contract dump if gold threatens to cross the $1800 line. I hope we can get through that level on the next try or the one after. Sooner the better.

Hi Mr Tibbles
Well, there is a different interpretation to being free in the US if you are black. There are lots of NAZIs there.
I've just found out that my nephew is going to study for a Master's Degree in economics at Munich University this autumn. His father is Irish, from Dublin, and his mother is English, but it has meant that my nephew has an Irish passport, even though he was born in England. Because Ireland is in the EU, he can go to study in Germany for free. He has to pay for his keep, of course, but there are no course fees.
I didn't like to say it, of course, but I wish he was studying something useful! He likes economic history, so I suppose he ought to read something he's interested in. I'm not sure if he could do this on a British passport now we are not an EU member.
Still, we'll soon be able to get some cheap, chlorinated chicken from the US, so that's OK.

Yes Mr B, the world is run by 'experts'.
Well, according to Alfred Lord Tennyson, the 'experts' were around in his day, causing havoc just as now. I think that's what inspired him to write 'The Golden Year'.

Ah, when shall all men's good
Be each man's rule, and universal peace
Lie like a shaft of light across the land,
And like a lane of beams athwart the sea,
Thro' all the circle of the golden year?

You might have thought a poem like that made Tennyson seem pretty OK, on the whole. I bet this little number wouldn't pass the Woke Brigade today, though:

Man for the field and woman for the hearth:
Man for the sword and for the needle she:
Man with the head and woman with the heart:
Man to command and woman to obey;
All else confusion.

If Tennyson were able to see my sewing efforts, he would surely change his mind. Ah well, the good ol' days, eh?
It looks like poetry Monday has moved to Sunday again.

https://www.tradingview.com/chart/DXY/e3gatekl-Advanced-Education-Why-the-US-Dollar-is-Going-to-Die/

The above link provides a nice, simple summary of monetary policy during the last century to date. The conclusion is highly debateable!
The West seems determined to wean itself off oil and use renewable energy sources. Again, that's all highly debateable, or perhaps it's the speed at which the transfer from fossil fuels to renewables that is in doubt. I don't know. The main point is that if oil does become much less important to the $US, just how will America prevent the dollar from losing its reserve currency status? We get back to the economists' arguments about fixing currencies to tangible commodities or acknowledging that a currency's strength or weakness depends on the economic output of a country. After all, many African countries have a lot of gold reserves, but are deemed poor. Germany, for example, doesn't have many gold reserves but owns some gold (but nowhere near enough to back its currency), but is seen as a rich country.
So, is Basel III the next step along the way to linking currencies to a basket of commodities, of which gold and silver play a role? Future monetary policy will try to mitigate the rise of Chinese economic power. For the West, it appears that the next step to balancing debt to economic output is to inflate the debt away. They tried the other way around, but failed.
There is a lot to think about here. There isn't a perfect system, and the experts know more and more about less and less. So they're no help.

Gold to $2300 by year end according to Andrew Maguire, and still not fair value. I'll take it for a start, though. Silver to rise by even more percentage wise.
When I was studying A-level biology, many years ago, I went on a field trip to Lymington in North Devon. On the beach, whilst looking for Mytilus Edulis (common mussels) I found a silver spoon. I took it home, (I'm looking at it as I write) and dicovered that it was made in the late 19th Century. It was probably lost during a picnic outing on the beach.
I'm always finding money and 'things'. I found a gold ring in my garden when digging the veg patch. It was made in Birmingham in the 1970s. I was hoping it was part of a Saxon hoard. Perhaps next time?
Well, even though the gold and silver price may fly, I'll keep the spoon and ring. They are nice memories.

Also from the Telegraph:
'Morrisons' board said it would recommend the offer to shareholders. It needs 75pc of investors to approve the deal at a special meeting.'

A piece from the Telegraph this morning:

'The fund has offered investors 252p per share and a 2p per share special dividend, valuing the chain at £6.3bn, or £9.5bn including its debts.

The offer represents a premium of 42pc to the closing price of 178p per share on June 18, the day before Morrisons received a £5.5bn offer from Clayton, Dubilier & Rice (CD&R). The supermarket's board subsequently rejected that offer, of 230p a share, saying it "significantly undervalued" the company.

However industry experts said the move would bounce Morrisons into play and flush out other bidders.'

The same thing happened with Kaz Minerals recently, although that was effectively a management buyout. The initial offer was recommended by the Board, but rejected on a couple of occasions. It depends on whether those shareholders who reject this recommendation are in a majority or not.

It would be nice to see Gold burst through $1800 early on this uptrend. That would leave $1800 as strong support for any little pullback.

I did add today below 101.5p, which gave the total shares I was looking for. I noticed last night on the NYSE my Newgold finishing in the positive, despite a drop earlier in the session. There was no corresponding rise for the gold price at the time, so I took it as a temporary bottom.
Hopefully, we'll see a rise in the gold price now, but I think it will be a bounce rather than a sustained move up. If that is true, I'll sell my recent additions (providing the are in profit!) and wait for a final bottom. I don't know yet if this is going to occur, so I'll let the price action dictate. I'm in, come what may.
I'm sorry to say this, but I get the distinct impression this share is being shorted. The selling was pulled off a couple of minutes before the end of today's session, which caused a little price jump at the end. Unless the shorter has got things wrong, I don't think they would continue to short if the gold price was about to make a sustained rise.
I could have this all wrong, of course, but I don't post here for the sake of popularity, only what I think.
The good news is that when this pullback is finally over, I believe gold will be on the up and up. On the five-year chart, the bottom will give us seven swings ( yeah, a chart - I know).