Credit deflation and the reflation cycle to come (part 3)

[HousePriceMania]

1 minute ago, BadAlchemy said:

I have some (far too) modest holdings of Yamana, Barrick, Harmony, Sibanye, Fortuna, Anglogold Ashanti.  Not advice/DYOR etc. They were among various miners discussed on first part of this thread a few years ago... thanks DB, Sancho and all of you. The miners are liking this , as am I. Most are up 3 or 4 percent. Anglogold is up over 9 percent.

I have some yamana and was laddering in, have HOC, just bought some Barrick

 

Hochschild Mining Plc

162.24 GBX+5.94 (3.68%)today

I've been getting increasingly worried about the bankers/politicians rhetoric over the last few weeks and have been buying oil/miners/infrsastructure shares.

 

I'm sticking with my plan of buying a house now with a 50% mortgage, then if we get the wage inflation my cash will suffer but my mortgage will be cleared in short shrift.

 

 

 

[HousePriceMania]

3 minutes ago, Axeman123 said:

Gold at 1861 usd/oz, my GJGB up 4% today!

DXY is up today, maybe pricing that in?

[kibuc]

31 minutes ago, MvR said:

Great Panther down 30% on the day.  what happened?  lol

After their laughably bad quarterly report that sent their share price tumbling, yestarday after close they announced a new placement. However, it wasn't the size of the placement, although U$20mil is nothing to sneeze at, but more important was the offering price of U$0.26 (CAD $0.32), a whooping 32% below their closing price yesterday and, who would have guessed it, the price that it spiralled down to at today's open.

This is beyond ridiculous, they're trolling their shareholders Elon-style.
 

 

[Hancock]

3 minutes ago, kibuc said:

After their laughably bad quarterly report that sent their share price tumbling, yestarday after close they announced a new placement. However, it wasn't the size of the placement, although U$20mil is nothing to sneeze at, but more important was the offering price of U$0.26 (CAD $0.32), a whooping 32% below their closing price yesterday and, who would have guessed it, the price that it spiralled down to at today's open.

This is beyond ridiculous, they're trolling their shareholders Elon-style.
 

 

So is it worth a punt at this price?

[ThoughtCriminal]

17 minutes ago, Hancock said:

Surely at 6.2% it bring the interest rate rise forward, or at least suggestions that its going to happen sooner than the end of 2022.

Of course that assumes that they're not trying to destroy everything on purpose. 

 

Ive got a horrible feeling that they are.

 

We hadn't considered the possibility that we're being governed by psychopaths.

 

I don't mean they're not very nice people and some of them diddle kids. I mean actual psychopaths. 

[HousePriceMania]

20 minutes ago, Hancock said:

Surely at 6.2% it bring the interest rate rise forward, or at least suggestions that its going to happen sooner than the ned of 2022.

You're assuming they will ever raise.

[HousePriceMania]

48 minutes ago, ThoughtCriminal said:

Of course that assumes that they're not trying to destroy everything on purpose. 

 

Ive got a horrible feeling that they are.

 

We hadn't considered the possibility that we're being governed by psychopaths.

 

I don't mean they're not very nice people and some of them diddle kids. I mean actual psychopaths. 

I've been considering nothing else.

Look at the house prices, look at the IRs, look at the inflation, look at the price of fuel, look at what the likes of Bliar has been buying up.

This has gone way past any sort of investment bubble, this is the end of the US captalist model.

As you say, this looks deliberate.

It's not like this is what happens every time bankers are deregulated.

[kibuc]

5 minutes ago, Hancock said:

So is it worth a punt at this price?

They've only just secured a $25mil credit facility, yet were still so desparate for cash they placed for another $20mil at 32% discount. Even though it seems almost impossible at this point, I suspect their problems at Tucano are bigger than they've reported so far.

They are currently producing gold at the cost of $2500/oz and are hoping to get it down to $2000/oz down the road. That's a Tesla-worthy business model so who knows, maybe the share price chart will also become Tesla-esque.

[Hancock]

1 minute ago, HousePriceMania said:

You're assuming they will ever raise.

But they have done, only fairly recently.

FED have a reservce currency to preserve ... or at least pretend to ..... and the debate about economics in the US media is far more enlightened than the shite we get this side of the Atlantic.

[HousePriceMania]

1 minute ago, Hancock said:

But they have done, only fairly recently.

FED have a reservce currency to preserve ... or at least pretend to ..... and the debate about economics in the US media is far more enlightened than the shite we get this side of the Atlantic.

And then the system collapsed.

CV19 my arse.

1 minute ago, Hancock said:

But they have done, only fairly recently.

FED have a reservce currency to preserve ... or at least pretend to ..... and the debate about economics in the US media is far more enlightened than the shite we get this side of the Atlantic.

The people of the US own guns, the bankers will need to act.

[JMD]

3 hours ago, jamtomorrow said:

Makes me wonder:

1/ how they'll go about finding anyone decent to work on it (per recent discussions on this thread about the quality of public sector technocrats in other fields). Like, if you're already in blockchain and you're any good, why on earth would you want to go and work for the enemy?

2/ how they'll accelerate their team of second-raters when we move from gradually to suddenly. Because things are going to get very difficult indeed for central banks 2023 or thereabouts (we discussed exponentials recently, so mind the log scale) -

So much commentary on crypto is around the bubbly prices, but the real story is the relentless adoption.

Good questions I think in terms of where will the skilled tech people be found to create the CDBC's?                                     I think In the US the government will co opt Facebook and Libre-2 will be born, or maybe it will be Google. Anyway I think those tech companies will jump at the chance of becoming monolithic utilities, able to indulge all the corporate fantasies of their founder/owners. Plus no longer will they have the risk of being brocken up due to any pesky monopoly rules, because they will essentially become an arm of the state, and where government is concerned, the bigger you are, the better.                                                                                                                                                                                         Back here in old blighty, our Track and Trace fiasco shows state can't do big tech. And private IT companies have a long history of screwing up large NHS and Post Office projects for the government. So I'm unsure how a cdbc is implemented here in UK. Although I am sure such cbdc's are coming, but perhaps all the control features will be introduced slowly over several years. Actually, I think this gives some hope that, say part way through its implementation, the whole shebang may just fall apart - as it becomes more/too complex and unwieldy. Actually I am eagerly waiting/hoping for the Chinese cbdc to do just that in the near future, as that could be the catalyst here in the West for a mass public rejection of state control... Anyway just my personal macro meanderings, though perhaps I have a phycological 'need' to frame the future in this way, else I'd go mad with total despair!!

[Hancock]

13 minutes ago, kibuc said:

They've only just secured a $25mil credit facility, yet were still so desparate for cash they placed for another $20mil at 32% discount. Even though it seems almost impossible at this point, I suspect their problems at Tucano are bigger than they've reported so far.

They are currently producing gold at the cost of $2500/oz and are hoping to get it down to $2000/oz down the road. That's a Tesla-worthy business model so who knows, maybe the share price chart will also become Tesla-esque.

OK so they're seeking money for the directors slush fund, before going out of business

[JMD]

5 hours ago, Harley said:

Roadmap date?

https://cryptobriefing.com/bank-of-england-says-cbdc-could-launch-by-2030/?utm_source=main_feed&utm_medium=rss

A 'consultation' is begun, for transparency purposes of course?! ...But what's the betting that after a BK, economic crash, etc, or similar crises event, the cdbc introduction is sped up in order to satisfy 'emergency conditions'?

[geordie_lurch]

2 minutes ago, JMD said:

A 'consultation' is begun, for transparency purposes of course?! ...But what's the betting that after a BK, economic crash, etc, or similar crises event, the cdbc introduction is sped up in order to satisfy 'emergency conditions'?

Yep I'm pretty sure the next real bailouts or a possible 'debt jubilee' will be contingent on the plebs moving over to the CBDC Digital £

[Axeman123]

5 minutes ago, JMD said:

A 'consultation' is begun, for transparency purposes of course?! ...But what's the betting that after a BK, economic crash, etc, or similar crises event, the cdbc introduction is sped up in order to satisfy 'emergency conditions'?

Arguably you couldn't get it off the ground except in an emergency. If Visa and Mastercard networks went down for a few days, who would refuse a working CBDC app with credit?

[geordie_lurch]

8 minutes ago, Axeman123 said:

Arguably you couldn't get it off the ground except in an emergency. If Visa and Mastercard networks went down for a few days, who would refuse a working CBDC app with credit?

Yep the gradual increase in contactless payment limits up to their current £100 and the push for businesses and people to stop using 'Covid covered' cash is all slowly sowing the seeds for cash to become redundant and who would that benefit the most

[JMD]

4 hours ago, Cattle Prod said:

If you have an independent source of income, you are free, and the state has to work for you. If your source of income comes from the state, you work for the state; whether you know it or not, you are a slave. So of course they want more slaves, and less clients.

Yes, and today that slave scenario you describe operates all the way up the 'chain' to those galley slaves, formerly known as back benchers!! All feaveroshly whipped to row faster and faster in the direction of more and bigger government...           (But who is Spartacus?)

[HousePriceMania]

18 minutes ago, geordie_lurch said:

Yep the gradual increase in contactless payment limits up to their current £100 and the push for businesses and people to stop using 'Covid covered' cash is all slowly sowing the seeds for cash to become redundant and who would that benefit the most

I remember my father bringing home his wage packet of cash.  My parents spent the cash and put the rest in a cookie jar.

The banks never saw a penny of it.

They had a council house, paid rent to society for the privilege of shelter, the banks never saw a penny of it.

Then came thatcher.

Now the bankers have everyone's money and people on the hook for small fortunes.

This is not by accident.

There was a reason the bankers were regulated and I hope that God is real, for then thatcher will rot in hell for all eternity for letting them off the leash

[Sugarlips]

Probably nothing again but..

 

[JMD]

19 minutes ago, Axeman123 said:

Arguably you couldn't get it off the ground except in an emergency. If Visa and Mastercard networks went down for a few days, who would refuse a working CBDC app with credit?

Indeed, my point being that the 'consultation period' gives tptb 'plausable deniability' that nothing nefarious was being planned... Just events dear boy, events!?

[HousePriceMania]

5 minutes ago, Sugarlips said:

Probably nothing again but..

 

it's a shame I dont have loads of silver coins in my wife's pants drawer....no wait that's where I keep the gold, the silvers in the kids room.

[HousePriceMania]

I would once again like to thank everyone here for helping prepare for the worse/best case scenario we see unfolding before our very eyes.

[DurhamBorn]

1 hour ago, HousePriceMania said:

Somethings not right in the world, my holding of the Scottish stock:

MACBETH ORD GBP0.061728395 MACB +21.28%

 

 

[Hancock]

26 minutes ago, HousePriceMania said:

it's a shame I dont have loads of silver coins in my wife's pants drawer....no wait that's where I keep the gold, the silvers in the kids room.

Take it you keep your wife's kegs in your drawer then ... which comes in handy sometimes!

 BK material as it'll force an earlier interest rate rise -

 

 

 

[HousePriceMania]

I read something the other day regarding Germany collapse, people started selling assets because they thought they were rich and didnt want to miss out on selling at the peak.

Needless to say when they sold up their £1000 soon became £10000000000 

I think it's a buy and hold on everything now till this shit storm is finally over.