Credit deflation and the reflation cycle to come (part 2)

[Harley]

Good podcast on the context of whats been going on by some older but somewhat sympathetic hands (given their junior miner naked shorting experience several years ago):

"January 29, 2021 – After this week's market wrap, Jim Bianco of the widely-read Bianco Research (click here for a free trial) discusses what happened in recent weeks as retail investors take on large hedge funds shorting stocks like GameStop and others. Jim says that with lots of people unemployed empowered by modern technology, this trend is unlikely to end soon and what he expects to unfold in the coming weeks and months. Next, we speak with Bruce Fraser of Wyckoff Trading (click here for today's slides) to get his technical outlook for the market before ending".

[Green Devil]

58 minutes ago, Errol said:

- BullionbyPost in the Uk also suspended all Silver dealing.

- Atkinsons Bullion also paused all trading.

All these guys have suspended trading simply because they are expecting a ramp higher, and they can PROBABLY sell it for more in a few weeks 

[Yadda yadda yadda]

14 minutes ago, Green Devil said:

All these guys have suspended trading simply because they are expecting a ramp higher, and they can PROBABLY sell it for more in a few weeks 

Self fulfilling prophecy. 

[Ellandback]

1 hour ago, leonardratso said:

2230 gmt

Thought they resume trading at 11pm? Like a nerd I check the open most nights on bullion vault and that usually kicks in at 11 so be handy to know if there is another site showing PA earlier..

[leonardratso]

1 minute ago, Ellandback said:

Thought they resume trading at 11pm? Like a nerd I check the open most nights on bullion vault and that usually kicks in at 11 so be handy to know if there is another site showing PA earlier..

might be 11, im sure the clocks go green 1030pm on investing.com, might be out a bit.

[sleepwello'nights]

On 23/01/2021 at 22:36, sancho panza said:

Have you seen the balance sheet?

I feel really stupid asking this, why doesn't it add up?

Arithmetically I can't get any total or subtotal from the numbers shown in any year. 

[Harley]

I'm at my physical PM allocation so time to move into equities which I have been watching but waiting for the technicals to turn and strengthen. Will things turn here instead or just blip up?  Anyway, prudent I open a few positions to get them on the radar.  Most concerned about an overall equity market turn here though given valuations and the great excuse/cover provided.  Next worry would be regulation on the other side of that to strengthen TPTB at my expense.  Hopefully great longer term entries to the right sectors afterwards if not.  In trader mode atm.    

[Harley]

10 minutes ago, sleepwello'nights said:

I feel really stupid asking this, why doesn't it add up?

Arithmetically I can't get any total or subtotal from the numbers shown in any year. 

That's a very good mindset to first validate any set of given numbers.  Alas most often you'll go mad trying.  Worse, trying to reconcile one web site's data to another.  Or trying to recreate their reported ratios like price to book.  Mad I say, look what it did to me!

[sleepwello'nights]

1 hour ago, Errol said:

- BullionbyPost in the Uk also suspended all Silver dealing.

- Atkinsons Bullion also paused all trading.

I just placed an order with Coininvest, confirmation has been received for delivery to the UK.  The price is slightly higher than it was last night.

When I looked yesterday Baird & Co were a tad more expensive, but their price was unchanged making them a bit cheaper. I tried to place an order with them but their site wouldn't let the order proceed to checkout. A technical fault that shelters them no doubt.

[Harley]

Nice if PMs could pop before the end of the tax year, especially given the signposted Budget changes in CGT.

[Hardhat]

5 minutes ago, Harley said:

Most concerned about an overall equity market turn here though given valuations and the great excuse/cover provided.

I've also been thinking this, Harley, will be setting some stops tomorrow, that's for sure.

[Harley]

3 minutes ago, Hardhat said:

I've also been thinking this, Harley, will be setting some stops tomorrow, that's for sure.

Yep, I need to retrench on my open opinions.  A few others here and in podcastland have expressed similar concerns.  This could all be another plandemic, or the financial world equivalent, or indeed the next phase of the current one.  Remember, we will own nothing and be happy (in which regard isn't the WEF meeting taking place as we speak - kept very quite, even more so than usual!).

[Yadda yadda yadda]

32 minutes ago, sleepwello'nights said:

I feel really stupid asking this, why doesn't it add up?

Arithmetically I can't get any total or subtotal from the numbers shown in any year. 

Assets add up. Although I've only looked at the first column. For some reason they included property, plant etc before depreciation and also the amount of depreciation. The text is indented but the numbers aren't. Leave those out as there is a net figure.

With current liabilities they add up if you exclude payable/accrued so presumably that means they've been paid?

Total liabilities is total current liabilities plus the long term liabilities excluding the indented text as they're components of the total long term debt figure.

[A tremendous # on the lung]

1 hour ago, Green Devil said:

All these guys have suspended trading simply because they are expecting a ramp higher, and they can PROBABLY sell it for more in a few weeks 

If they do this, just cancel /postpone the squeeze?

[Harley]

The current WSB stuff is very relevant here given the potential change in the environment in which we operate (my burning building similie - optimising things but in a burning building which we should be getting out of - optimising the wrong thing).  May amount to nothing or could herald a seismic shift.  One to watch.

Food for thought from a sometimes annoying Boomer/Gen X source:  Max and Stacy.  Actually quite a good narrative this time, not banging on about BTC and their past buy silver campaign so much as usual (at least the first section).

Orange Pill Podcast: Orange Pill [OP26] - Monetizing Dissent https://www.buzzsprout.com/1263314/7577551-orange-pill-op26-monetizing-dissent.mp3?blob_id=33386374

 

 

[Boon]

That's the only thread on WSB I can see about silver... just don't think it'll be a focused effort.

[Loki]

It's a FUD, no one is saying buy SLV.  They're saying buy physical or at least PSLV, or AG (First Majestic)

[leonardratso]

4 minutes ago, Loki said:

It's a FUD, no one is saying buy SLV.  They're saying buy physical or at least PSLV, or AG (First Majestic)

a rising ride etc etc,

numbers just reset in investing.com

https://www.investing.com/indices/indices-futures

 

 

[nirvana]

Silver 27 christ what a fecking snorefest, I stayed up and had a shave for nowt...

[Harley]

Coininvest email.  I've highlighted the key bit.  Still not 100% (whats wrong with people!): What is the customs clearance fee?  VAT or something more and if it is then what and how does the VAT get paid?!

"Calling all UK-based coininvest.com customers!

We know that the rules and regulations around trade post-Brexit have been very confusing. We are here to help and make your life easier when ordering with us.

First of all, what hasn't changed?

We haven't changed our prices as a result of Brexit. Our rates remain extremely competitive, even when you consider VAT!

So, what's different now?

VAT is payable at the same rate as any local purchase in the UK, currently 20%.

This 20% is not added to the price visible on our website and is payable once your order arrives in the UK. A customs clearance charge will apply.

For orders of more than 1,000 Euro, please expect a couple of days delay as we need to complete customs declarations".

Update: They have FAQs which says "There are no customs/tariffs due for precious Gold, Silver, Platinum or Palladium".  But what's a "customs clearance charge" then?  Rubbish!

[leonardratso]

4 minutes ago, 5min OCD speculator said:

Silver 27 christ what a fecking snorefest, I stayed up and had a shave for nowt...

still red yet, havent opened, but the daily %ages have reset.

[Bricks & Mortar]

2 minutes ago, Harley said:

VAT is payable at the same rate as any local purchase in the UK, currently 20%.

This 20% is not added to the price visible on our website and is payable once your order arrives in the UK. A customs clearance charge will apply.
 

After this pandemic's over, I can imagine myself taking the occaisional daytrip to Dublin.  Via Belfast.

[sleepwello'nights]

6 minutes ago, Harley said:

VAT is payable at the same rate as any local purchase in the UK, currently 20%.

This 20% is not added to the price visible on our website and is payable once your order arrives in the UK. A customs clearance charge will apply.
 

It also says that VAT is charged on the margin scheme. In which case it should be on the dealer margin. We'll see when my order arrives how much I'm being charged. If I'd bought from Baird I would still have had VAT to pay. So no real difference to the total cost whoever ordered from.

[Loki]

10 minutes ago, 5min OCD speculator said:

Silver 27 christ what a fecking snorefest, I stayed up and had a shave for nowt...

It's saying 10pm which is market close on Friday, it opens at 11

https://uk.investing.com/commodities/real-time-futures

[wherebee]

8 minutes ago, Bricks & Mortar said:

After this pandemic's over, I can imagine myself taking the occaisional daytrip to Dublin.  Via Belfast.

just remember the thresholds on declarations at the border......