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

[ThoughtCriminal]

Funny cos it's true 😂

[Noallegiance]

4 minutes ago, ThoughtCriminal said:

Yes, and 99% have absolutely no idea it's coming.

 

They'll just suddenly realise they can't afford to change cars every two years AND heat their home 

Cheaper nice cars AND housing?

Monsieur, you are really spoiling us!

[Long-game]

37 minutes ago, Starsend said:

 

100% Guaranteed.

 

Haha takes me back a bit.

Enjoyed his posts him and realist bear.

[Yellow_Reduced_Sticker]

"Boris Johnson says UK will announce new energy supply strategy"

 

Has @Cattle Prod been having a word with BOJO?!

 

[Agent ZigZag]

3 hours ago, Bobthebuilder said:

I have made one financial decision today. I am getting a solid fuel stove fitted this summer.

And whilst your at it get as much coal as you can before the politicians ban its sale.

[Agent ZigZag]

5 minutes ago, Yellow_Reduced_Sticker said:

"Boris Johnson says UK will announce new energy supply strategy"

 

Has @Cattle Prod been having a word with BOJO?!

 

Is it Heinz beans. As the the more you eat the more you....

[Bobthebuilder]

3 minutes ago, Agent ZigZag said:

And whilst your at it get as much coal as you can before the politicians ban its sale.

We can all buy our coal off Durham Born.

[Majorpain]

29 minutes ago, ThoughtCriminal said:

Yes, and 99% have absolutely no idea it's coming.

 

They'll just suddenly realise they can't afford to change cars every two years AND heat their home 

I sense a disturbance in the force, it's as if £36.7bn of Car finance loans cried out in terror and were suddenly silenced.  Human rights violation territory surely?

[leonardratso]

I hope bojos energy strategy involves a 6 point plan.

points 1 to 5 - tba, point 6 - see points 1 to 5.

 

[leonardratso]

heres a nice 5 day graph for HPM to shot his wad over, some guy selling overpriced duvets or some such shit;

[Green Devil]

Whats with BAT/BTI? Price has fell off a cliff since the high. 

[Castlevania]

7 minutes ago, Green Devil said:

Whats with BAT/BTI? Price has fell off a cliff since the high. 

It was overbought and then the market realised they sell a lot of fags to those pesky Russians.

[leonardratso]

cathy wood bought some BAT, its the YRS signal.

[BadAlchemy]

Oh god, he's got an 'energy plan'? You just know it's going to be packaged up like...

[geordie_lurch]

More bad news for Russia but potentially bullish for 'other' gold? Via Zerohedge here

Quote

The London Bullion Market Association said on Monday that it suspended all six Russian gold and silver refineries from its Good Delivery List following sanctions imposed by the U.S., European Union and U.K. on the country. Existing bars produced by the refiners before their suspension will still be accepted. From the statement:

In light of UK/EU/US sanctions and to ensure an orderly market, LBMA has suspended the following gold and silver refiners with immediate effect:

• JSC Krastsvetmet (gold and silver)
• JSC Novosibirsk Refinery (gold and silver)
• JSC Uralelectromed (gold and silver)
• Moscow Special Alloys Processing Plant (gold)
• Prioksky Plant of Non-Ferrous Metals (gold and silver)
• Shyolkovsky Factory of Secondary Precious Metals, SOE (gold and silver)

These six refiners will no longer be accepted as Good Delivery by the London Bullion market until further notice.

Existing Material Remains Good Delivery

Following a suspension or a transfer to the Former List, the bars that the Refiner produced while on the List will still be considered Good Delivery. Please see Section 1.4 of the Good Delivery Rules for full details

As Bloomberg explains, "the decision amounts to a de facto ban on new Russian gold bars entering London’s market, where trillions of dollars of precious metals trade each year." The LBMA’s Good Delivery list is widely seen as the international standard for financial gold trading, as most bullion banks will only handle metal produced by accredited refineries.

 

[Majorpain]

https://www.zerohedge.com/markets/russian-gold-barred-worlds-largest-gold-market

Russian Gold/Silver banned from LMBA, banning second largest Gold producer will kneecap physical supply like all other markets.

Darth Putin's Death Star, with its economy reducing superlaser (coal, oil and gas powered naturally), is now pointed squarely at Gold and Silver and those have been rigged rather a lot....

[Green Devil]

49 minutes ago, Castlevania said:

It was overbought and then the market realised they sell a lot of fags to those pesky Russians.

I thought might of been the story. Tossers. Im getting killed! 

[Axeman123]

Signs that the Moscow stock exchange might reopen on Wednesday:

https://www.timeturk.com/en/moscow-exchange-to-remain-closed-through-tuesday/news-55213

Any thoughts on how likely that is, and likely impacts?

[arrow]

48 minutes ago, Majorpain said:

https://www.zerohedge.com/markets/russian-gold-barred-worlds-largest-gold-market

Russian Gold/Silver banned from LMBA, banning second largest Gold producer will kneecap physical supply like all other markets.

Darth Putin's Death Star, with its economy reducing superlaser (coal, oil and gas powered naturally), is now pointed squarely at Gold and Silver and those have been rigged rather a lot....

I don't believe that this will affect the forum's favourite Polymetal?

From their current earnings transcript-

"Well, we don’t sell directly to the Russian Central Bank. We sell to commercial banks in Russia. And I think the other trend we will see very shortly is the pickup in physical demand from individuals locally again, as a way to diversify away from the dollar and buy safe haven assets. Especially, given the fact that generally, the equity market, where a lot of Russian individuals were active, have suffered quite significantly. So we don’t see any imminent risk here."

With the Russian central bank restarting bullion purchases and the Russian commercial banks increasing their gold purchases, Polymetal has a ready market there. I doubt the Russian banks are going to be currently concerned about lmba certification. Although, Polymetal may be paid in rubles.

Polymetal's dividend remains covered, if I have read their transcript right? They use russian cash flow for russian capex and expenses and Kazakhstan cash flow for dividends. Unless someone wants to correct me here. From the transcript-

 

"Maxim Nazimok

However, from the current dividend requires the free cash flow from Kazakhstan is actually covering this."

[Democorruptcy]

2 hours ago, Yellow_Reduced_Sticker said:

"Boris Johnson says UK will announce new energy supply strategy"

 

Has @Cattle Prod been having a word with BOJO?!

 

Probably more like this:

[DurhamBorn]

2 hours ago, Yellow_Reduced_Sticker said:

"Boris Johnson says UK will announce new energy supply strategy"

 

Has @Cattle Prod been having a word with BOJO?!

 

They have a strategy?

[Chewing Grass]

21 minutes ago, DurhamBorn said:

They have a strategy?

Buyin it off Bidin.

[arrow]

7 hours ago, CannonFodder said:

I was watching an anti-russian guy based in russia, very critical of invasion however he also lambasted the west as the sanctions are increasing Putins popularity due to victemhood. Very scarey if true.

Well, when politicians like the French minister say they are waging a financial war against the Russian economy and its people, it's understandable that ordinary Russians feel got at

[Majorpain]

14 minutes ago, arrow said:

I don't believe that this will affect the forum's favourite Polymetal?

From their current earnings transcript-

"Well, we don’t sell directly to the Russian Central Bank. We sell to commercial banks in Russia. And I think the other trend we will see very shortly is the pickup in physical demand from individuals locally again, as a way to diversify away from the dollar and buy safe haven assets. Especially, given the fact that generally, the equity market, where a lot of Russian individuals were active, have suffered quite significantly. So we don’t see any imminent risk here."

With the Russian central bank restarting bullion purchases and the Russian commercial banks increasing their gold purchases, Polymetal has a ready market there. I doubt the Russian banks are going to be currently concerned about lmba certification. Although, Polymetal may be paid in rubles.

Polymetal's dividend remains covered, if I have read their transcript right? They use russian cash flow for russian capex and expenses and Kazakhstan cash flow for dividends. Unless someone wants to correct me here. From the transcript-

 

"Maxim Nazimok

However, from the current dividend requires the free cash flow from Kazakhstan is actually covering this."

Russia can buy it itself or sell to China or India, Poly may take a hit in the short run but they will be fine IMO.  More than fine if Comex/LMBA become collateral damage.

[DurhamBorn]

These are still all over Durham if you know what your looking for.Bricked up entrances to drift mines,this one is near Prebends Bridge in Durham itself.Each colliery had its own banner and every year at the gala Durham people march behind them all in Durham,huge amounts of people.