Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
I will add govt policy has made housing a systemic risk to the Uk economy because its a ponzi scheme...and the proof of that is last year Sunak's main priority was shoring up the housing bubble by removing stamp duty whic blew prices even further and saved buyers nothing at all...its crazy....because sunak knows if property falls a lot of banks will be insolvent....what a great way to run an economy a housing bubble...and over in Germany we actually have this quaint thing called a "Manufacturing Economy"
It's not a no brainer to buy at all ! People buying now are putting themselves at huge peril of the wheels come off. In the UK we sell full recourse mortgages so you are always on the hook if you end up in negative equity and end up repossessed. What may come down the pipe may make the 90's look like a picnic. It may have worked for you buying in the 90's it may not work out so well for someone borrowing 600k to buy your sub 200k 90's house purchase...in the US after 2008 i n many US states many waled away from their underwater mcmansions that had halved or more in value...no damage to their credit rating because in a lot of states theysell non recourse mortgages which means you can hand it back to the lender and often buy again a few months later.....People in this country have no idea how oerblown our property bubble is....35 plus year mortgages now on offer kust like Japan in the 90's and whn the bubble blew prices still have not gone back t the peak....as i said most don;t know jack about about the truth behind our property bubble.....always the same baloney...to many people want to live here not enough houses....it's irrelevant...its credit availability and low rates that have made this a powder keg....its easy to sit in a house you bought 25 years ago and wax lyrically because if your property lost 75 percent of its value it would not matter a jot to you.....someone who bought next door today mortgaged to the hilt it does with a 35 year loan on a full recourse mortgage it does....i saw what happened in the 90's and i bought twice then....where we are today is insane.....you probably are not aware of the legislation turning the screws on landlords now...and anyway those landlords mostly need to borrow so all they do is get between a lender and a someone who wants a house and fuel the ponzi......take nationwide outrageous it's a mutual run like a bank it lends to landlords and fuels the ponzi when it should only lend to owner occupiers which was the whole point of a building society....this house of cards will fall or the only way they will rise is hyper inflation which i think the govt wants....being half german i get unique perspective on the 2 housing markets and us here ( island monkeys ..Inselaffen as they affectionately call us) are perceived as totally and utterly insane about property they view it as a mental disease we are afflicted with
Next time I'm not sure there Mom and Pop will want to buy their bonds....so i expect them to confiscate people's 401k next time which will be like when they outlawed private gold ownership. Americans don;t have gold like they did back then so they are going to go after something else...they say history does not repeat but it SURE DO RHYME......and that scenario fit s the bill perfectly !
As most don;t understand(and i don't mean on here) about FIAT currency and it;s debasement and extra especially in the US there unique status as the reserve currency it's quite clear the US is the new Italy and the dollar is being lire'd...it's only its unique position of being the trading currency for certain commodities that keeps it in demand once it lose that its done for and by then they won;t even be able to afford to fight a war.
Look at how ww2 nearly bankrupted the US...they needed to sell their treasuries and that was not enough enter stage left the War Bond....Mom and Pop money without the war bonds they would have run out of money and it was a massive worry for roosevelt
I don't think the average Joe even has a realistic idea of the value of property. Take real estate in the UK, the Plebs have been conditioned to take on capital loans for 400, 600 thousand pounds at low rates thinking real estate is the ladder to riches it was in the past. I read only recently of many leaseholders who don;t understand jack about the leasehold they signed up to being caught out and being hand huge bills for building rectification. Example 23 year old buys less than 10 year old flat in Leeds, waterside development...pays 180K(yes in know in leeds ffs) with borrowed money...160 in fact....all happy until a bill for 100k landed on the doormat ! Bankrupted essentially because doesn;t understand the value of real estate really or the laws around the nefarious scandal of leasehold. All the plebs when asked will tell you there are not enough houses which is a line they have been spoon fed....maybe there aren't maybe there isn;t but real estate is driven by available credit and the low rates have reduced the payments but allowed the asset to inflate horrendously...so you have this huge debt in terms of capital loan hanging over you and it you don;t undertand why it should scare the bejus out of you ! So what chance of this lot who should be able to graps real estate but don;t understanding what actualy is money ? Fiat vs Gold, Monetary history.
Guy said to me once who was a kid in the blitz when you see a bomb dropped on a house you seen what a house really is...just apile of bricks a bit of wood and glass and that's it....of course the estate agents will rish forward and say it;s the land value...just like bitcoiners said its now a store of value as we failed at being a utility.....ok so it;s the land says I and the land is stoked up by all the points i previously mentioned......and try and explain any of this to Joe Public or about Money and their eyes glaze over....and these things are fundamental to their well being...guess its what Napolean said all civilsation is 3 meals away from anarchy....most people don;t pay attention until they see an immediate threat aka the shelf stripping last year
I for one am not happy about the prospect of the BoE getting involved in a ponzi scheme buying worthless digital code. Assets my **** Tulips more like !
"we see how many tools they have to rein inflation in"
Volcker under Reagan jacked up interest rates to levels that would make your pips squeak and your voice shrill if you were heavily indebted.....can they do that today ? No they cannot and if they did all those debt pigs will squeal like well stuck pigs...The level of debt is simply too high...the Us couldn;t even cover interest. payments and no forget the undeclared liabilties pensions and what not.....the whole thing is a jenga tower in a tornado
The trouble with the US their elite are Narcissistic Parasites and not patriots in any shape or form as are most of the left leaning tyranical so called Liberals..talk about hijacking a word they don;t know the meaning of liberal. The true patriots in the US barely have a voice and the voice they have is ignored so the decline will accelerate.
Made me laugh last year when Pelosi claimed she was feeding America(with her printed paper money) has she ever captained a fishing boat, built a house, fixed a heating sytem etc etc ? of course not !
The chinese are smart they are letting the yanks hoist themselves on their own petard and at some point they will remake the rules of the game with their other partners like Russia in their own image and the US will be floundering about powerless. It will be this century as well. They'll need to build Trumps wall to stop everyone escaping to South America and it will start with the rich...I imagine some South American countries will do well out of the collapse of the US Hegemon !
I agree with all you say Miss Dollar but although money has and can be made in crypto they are nothing but the Emperors new clothes....as one of the founding fathers said "A dollar is dug out of the ground" that was the whole point a currency that can NOT be conjured up out of thin air like unbacked fiat and crypto..at least FIAT has aircraft carriers and sovereign status backing it up but all FIAT extra especially the dollar have been perverted by financial shennanigans. THE US could not help itself but not adhere to Betton Woods and started to print more dollars and made gold more attractive. WHat has happened to the dollar since is not only off the scale it's out of the galaxy. If the US did not have reserve status they would be bankrupt long ago. Bitcoin has some unique attributes over the other crypto but it's still a ponzi scheme as they all are....just a decentralised ponzi scheme....the argument about it being a deflationary asset due to limited supply 21 million with 100 million little satoshis in each and every BTC is totally irrelevant...it's a speculative vehicle like all the rest ..a ponzi reimagined.....I never used to be a gold or silver bug but the more i learned about monetary history convinced me otherwise. I fully realise how the average Joe does not get gold at all as it's just not on their radar as it was not on mine. Joe Public only starts to take notice when it's too late...scrap gold stalls springing up etc...inflation and devalued fiat(they don;t even understand what fiat is) But what do Central Banks hold dear ? GOLD..what is Gold's cousin ? Silver
Yup time to close up.....I m reminded of something i read about Mugabe and how he declared to print away all his problems and we know how that turned out....the US seems exactly the same except they claim now they are just going to go a fraction more slowly down the same road....
US fiscal policy Reminds me of a story by some southern US comedian.....on a flight....engine out....and swinging back to departure airport.....the guy next to him was freaking out....asking him how far the remaining engine would take them ? His reply "TO the scene of the crash"
Fair Point....it's just I get tired of the pantomine......are all the city boys so green they even take this **** seriously ? The amount of dollars the US has printed which has doubled in a few years expotentially....if they didn't have the printing press for the reserve currency they would have been Argentina way way back
I am looking at this FOMC baloney 15 billion taper a month and no talk of rates whatsoever.....I am trying to find an analogy..alcoholic cuts out 1 small beer a day and carries on as normal....I'm not sure that really cuts it...alcoholic vows not to drink the last drop in each can ? I am surprised gold hasn;t exploded upwards....inflation is left to roam freely and a taper of no consequence that they will cancel out(and alot more) behind the scenes meaning THERE IS NO TAPER...it;s just for SHOW
I am looking at this FOMC baloney 15 billion taper a month and no talk of rates whatsoever.....I am trying to find an analogy..alcoholic cuts out 1 small beer a day and carries on as normal....I'm not sure that really cuts it...alcoholic vows not to drink the last drop in each can ? I am surprised gold hasn;t exploded upwards....inflation is left to roam freely and a taper of no consequence that they will cancel out(and alot more) behind the scenes meaning THERE IS NO TAPER...it;s just for SHOW
I am looking at this FOMC baloney 15 billion taper a month and no talk of rates whatsoever.....I am trying to find an analogy..alcoholic cuts out 1 small beer a day and carries on as normal....I'm not sure that really cuts it...alcoholic vows not to drink the last drop in each can ? I am surprised gold hasn;t exploded upwards....inflation is left to roam freely and a taper of no consequence that they will cancel out(and alot more) behind the scenes meaning THERE IS NO TAPER...it;s just for SHOW