Credit deflation and the reflation cycle to come (part 6)

[ThoughtCriminal]

18 minutes ago, M S E Refugee said:

Gold is doing well, £1608 

I forgot to buy those Krugerrands

 

FU

 

😂

[Cattle Prod]

Heard first in the basement years ago, good of the MSM to catch up:

 

What Javier still fails to understand, even after writing an excellent book on the trading houses, is that supply of oil is inelastic. Money and desperation can't make it come out any quicker, it takes time. We discussed on here how you can't leave wells static, the wells rust and gunk up, valves need to be replaced etc, most will need to be worked over and many redrilled. However this can actually allow reservoirs temporarily recover pressure, for a little while (this is what Saudi is doing). So He is exactly wrong on that, it's damage to infrastructure, not reservoirs. What he is alluding to will be what damages the reservoirs: they will open the taps on full on what they still have flowing. This will provide a temporary bump, but ultimately recover less and shorten the life of field. No more rabbits from hats I'm afraid.

[Plan-b]

8 minutes ago, Lightscribe said:

A telecom actually spiking…What the fucks going on. 
 

https://www.reuters.com/business/media-telecom/telecom-group-telias-q3-core-profit-beats-expectations-2023-10-19/

Interesting thats the Crest depository interest of the underlying, the underlying is showing a fraction of that gain - must be a slow price update

[Cattle Prod]

53 minutes ago, Plan-b said:

Now that the US is lifting sanctions I wonder what the deal was? Perhaps the US will use Venezuela as it's own fairly local SPR, a bit like Canada, even though it's a very heavy waxy crude I expect the US can find good use for some of it.

The US is set up for Venezeualan crude, refinery wise, goes back to the Monroe doctrine, they did consider it 'their' oil. They desperately need the heavy crude for diesel. Venezuela could produce a hell of a lot more oil for sure, but it will take a lot of money and a lot of time. SPRs are supposed to be availble at short notice. Canada's oil was deliberatly held back by blocking eport pipelines (now being released by the trans mountain pipeline for example), and so more is available there at (relatively) short notice.

[Cattle Prod]

59 minutes ago, BurntBread said:

... and if I remember CP's comment correctly, there will be the best part of a decade spent on that inhalation, before anyone tastes any significant amount of it.

Iraq post 'liberation' is instructuve. They added 3m bbl in 5 years. That was good going given the violence. However, that production was from a handful of supergiant fields, each operated by a supermajor and SLB/HAL. Venezuela's untapped production is not like that. I think 10 years to add 1.5m bbl is a good guess.

[DurhamBorn]

2 hours ago, Plan-b said:

The US will be last man standing when the western financial system finally begins to crack, it's countries like the UK commentators should be concentrating on - our prospects are far worse.

The irony is in the UK we could still save ourselves.The window is shutting fast,but still time,just.The problem is every policy is wrong.Every policy simply consumes all capital.They are inflating to give to none working consumption.Instead of capital creation we have capital consumption.Worse the ones who saved the capital are not the ones spending it,it is being given to those who didnt save and dont work etc.Incredible stuff.There is hell on up here in Hartlepool with migrants threatening the MPs staff outside her office etc.Flooding 3rd world scum into the country is the icing on the cake.The wests problems are simply funding consumption of those who wont work instead of that capital going into production.

 

[DurhamBorn]

41 minutes ago, Lightscribe said:

A telecom actually spiking…What the fucks going on. 
 

https://www.reuters.com/business/media-telecom/telecom-group-telias-q3-core-profit-beats-expectations-2023-10-19/

Rubber bands stretched on them all,just needs something to release the bands.Inflation starting to feed into turnover faster than costs.

[Plan-b]

A rare glimpse of the little known shadowy figures in the background who really run the UK. Here's one of them telling Sunak our unelected 'Prime Minister' what to do, its in the press where the public can actually see it happening - I doubt anyone noticed.

Never forget..

"If voting made any difference they wouldn't let us do it"

Shut down Britain’s gas network and roll out heat pumps, Sunak told

https://archive.li/4LoaC

 

Edited October 19, 2023 by Plan-b

[Cattle Prod]

2 hours ago, ThoughtCriminal said:

Biden lifting sanctions on Venezuelan oil and gas. Lots of smelling the coffee going on at the minute.

Yes, exactly. Sorry, I'm reading backwards as usual. Realpolitik, It's all fun and games till you need energy.

That photo is instructive, if it is Venezuela. That wellsite is a total mess, they just don't look like that unless it's falling apart, like in Nigeria maybe after the pipelines have had holes drilled in them by locals. You have to seriously mess up to leave oil sitting on the ground like that. Any western company running that, or servicing it, would be fined, brought to court if they didn't remediate and pay penalties, and be sanctioned by their own board for an outrageous breach of health, safety, and environmental guidelines, and every single employee of the company would have their annual bonus impacted. I'm not exaggerating, that's how it is now. It will take years I think.

[BWW]

36 minutes ago, DurhamBorn said:

The irony is in the UK we could still save ourselves.The window is shutting fast,but still time,just.The problem is every policy is wrong.Every policy simply consumes all capital.They are inflating to give to none working consumption.Instead of capital creation we have capital consumption.Worse the ones who saved the capital are not the ones spending it,it is being given to those who didnt save and dont work etc.Incredible stuff.There is hell on up here in Hartlepool with migrants threatening the MPs staff outside her office etc.Flooding 3rd world scum into the country is the icing on the cake.The wests problems are simply funding consumption of those who wont work instead of that capital going into production.

 

I skimmed through allsop's nov auction catalogue. Noticed that 18k to 30k terraces in the ne are back. Guessing with LHA letting those to immigrants will now make you some dosh if you're prepared to get your hands dirty both in making the places decent at a functional level and forcing the newcomers to behave in a decent way.

Not my bag or location but Id say theres a fortune to be made there.

[BWW]

15 hours ago, Pip321 said:

Excellent. However, as it was my initial idea I propose to be leader and would have some modest requirements to be met. 

Limitless expenses, access to booty 24/7, able to live above the law, private jet, ability to virtue signal without addressing the fundamental point, live at Downing street with a cat, several other homes paid for by the state, lifetime supply of chocolate oranges even after our term in power.

See.....power corrupts even myself who started what was a genuine attempt to help the citizens of Orange Chocolate Uk (the countries new name by the way) and changes into corruption, vice, power and greed.

Perhaps as long as we are governed by humans we are doomed....we should handover Downing Street to the cat and see how it turns out. 🤷‍♀️

how have you corrupted ... 2nd para is a pretty accurate description of what pm gets. Only corruption/addition is the booty, you'd need to arrange your own. Learn from Boris ... fat yank blonds will put out for contracts and you can shag the help but dont get her up the duff or too close as she'll have you down the bloody aisle and tied to a stroller.

[BWW]

19 minutes ago, Cattle Prod said:

Yes, exactly. Sorry, I'm reading backwards as usual. Realpolitik, It's all fun and games till you need energy.

That photo is instructive, if it is Venezuela. That wellsite is a total mess, they just don't look like that unless it's falling apart, like in Nigeria maybe after the pipelines have had holes drilled in them by locals. You have to seriously mess up to leave oil sitting on the ground like that. Any western company running that, or servicing it, would be fined, brought to court if they didn't remediate and pay penalties, and be sanctioned by their own board for an outrageous breach of health, safety, and environmental guidelines, and every single employee of the company would have their annual bonus impacted. I'm not exaggerating, that's how it is now. It will take years I think.

stock photo i'd guess so quite likely nigeria.

[DurhamBorn]

9 minutes ago, BWW said:

I skimmed through allsop's nov auction catalogue. Noticed that 18k to 30k terraces in the ne are back. Guessing with LHA letting those to immigrants will now make you some dosh if you're prepared to get your hands dirty both in making the places decent at a functional level and forcing the newcomers to behave in a decent way.

Not my bag or location but Id say theres a fortune to be made there.

I know a few recent visa holders renting some of them and they are shit holes.Im talking whole houses full of mould and damp.There are two kinds of terraces here,some decent,well maintained and built of good brick etc in decent places.Then the other kind,the ones built by mine owners,usually next to the mine that are usually in boggy dips.They should of been cleared decades ago,lots were.The one i know rent them,then bring their daughters etc over who also live there.I honestly would not touch them to invest in.

[Harley]

3 hours ago, Plan-b said:

The US will be last man standing when the western financial system finally begins to crack, it's countries like the UK commentators should be concentrating on - our prospects are far worse.

I have, for quite some time, likened the condition to one of PAD (Peripheral Artery Disease) or any one of the other peripheral circulatory conditions (e.g. Frostbite).

Edited October 19, 2023 by Harley

[Harley]

50 minutes ago, Plan-b said:

A rare glimpse of the little known shadowy figures in the background who really run the UK. Here's one of them telling Sunak our unelected 'Prime Minister' what to do, its in the press where the public can actually see it happening - I doubt anyone noticed.

Never forget..

"If voting made any difference they wouldn't let us do it"

Shut down Britain’s gas network and roll out heat pumps, Sunak told

https://archive.li/4LoaC

 

"SOURCE: EUROPEAN HEAT PUMP ASSOCIATION"!

PS:  Many thanks for making the effort to post the link that way. 

Edited October 19, 2023 by Harley

[Plan-b]

1 minute ago, Harley said:

"SOURCE: EUROPEAN HEAT PUMP ASSOCIATION"!

"Follow the money"!

[onlyme]

4 minutes ago, Harley said:

"SOURCE: EUROPEAN HEAT PUMP ASSOCIATION"!

Fucking grifter.

Every time.

 

 

[BWW]

11 minutes ago, DurhamBorn said:

I know a few recent visa holders renting some of them and they are shit holes.Im talking whole houses full of mould and damp.There are two kinds of terraces here,some decent,well maintained and built of good brick etc in decent places.Then the other kind,the ones built by mine owners,usually next to the mine that are usually in boggy dips.They should of been cleared decades ago,lots were.The one i know rent them,then bring their daughters etc over who also live there.I honestly would not touch them to invest in.

so depends which type is for sale. i suspect the answer is both and good ones are not priced much diffetent to the shit, thats usually the case with hp.s

its notable because those prices were not available for quite a while and the cult seminar get rich quick nouveau-btl crowd were buying them for 60 to 70 without viewing.

Am assuming some will be theirs and they're now losing their shirt (blouse gone long ago in stokies vivastreet play).

[Plan-b]

9 minutes ago, onlyme said:

Fucking grifter.

Every time.

 

 

Wow thanks .. Always follow the money ..

I see he has a CBE. In his case it's C*nt of the British Empire

Net Zero my arse

Edited October 19, 2023 by Plan-b

[JMD]

The topic of shoplifting crime was much discussed on here recently.

https://www.mirror.co.uk/news/uk-news/face-mapping-tech-latest-weapon-31223911

Problem, reaction, solution?   ...So facial recognition tech will now be trialled to fight the scourge of shoplifting. But how long before it's rolled out to all shops, all retail spaces, all high-streets? And then perhaps to carparks to prevent car crime, and then what next...!?

Anyway it appears that this stealth monitoring control 'absolutely will not stop', but we shouldn't pretend that we were never warned about our 'government machine' (NB referred to in below clip as 'Terminator' !?!).

 

 

 

 

Edited October 19, 2023 by JMD

[M S E Refugee]

1 hour ago, ThoughtCriminal said:

I forgot to buy those Krugerrands

 

FU

 

😂

My Credit Card was blocked for buying a Kruggerand.

It's still blocked despite them saying it's working again

 

[DurhamBorn]

20 minutes ago, BWW said:

so depends which type is for sale. i suspect the answer is both and good ones are not priced much diffetent to the shit, thats usually the case with hp.s

its notable because those prices were not available for quite a while and the cult seminar get rich quick nouveau-btl crowd were buying them for 60 to 70 without viewing.

Am assuming some will be theirs and they're now losing their shirt (blouse gone long ago in stokies vivastreet play).

Lots of my friends sold real shit hole houses worth £15k to southern BTL for £75k back in 2003 to 2004.They thought the idiots were joking when the the estate agent was knocking on doors.They all went back the night contracts exchanged and ripped out the boilers,all copper,even the sinks and toilets in some cases.Money pits for the buyers,now down to £40k again and need £25k of work minimum.

[Plan-b]

1 hour ago, BWW said:

I skimmed through allsop's nov auction catalogue. Noticed that 18k to 30k terraces in the ne are back. Guessing with LHA letting those to immigrants will now make you some dosh if you're prepared to get your hands dirty both in making the places decent at a functional level and forcing the newcomers to behave in a decent way.

Not my bag or location but Id say theres a fortune to be made there.

I think a saw a terrace in Horden for £5K recently, I know the Pit Villages are dire but still thats cheap accommodation.

I don't think I'd buy one though, been through there a few times on the way back from Peterlee, that one was probably ready to fall into an old mine shaft.

Edited October 19, 2023 by Plan-b

[kibuc]

29 minutes ago, Harley said:

"SOURCE: EUROPEAN HEAT PUMP ASSOCIATION"!

You can recognize them by their favourite pick-up line:

"Do you want pumped?"

[Long time lurking]

Same with UST`s for that month ,and the chances are at a large loss 

Something better than nothing ?