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mullokintyre
Posted on: Yesterday, 04:40 PM


Group: Member
Posts: 2,816

I don't know if people outside of Victoria have been following the Judicial Enquiry into the balls up that was the Hotel Quarantine that wasn't a quarantine, but I have had more than a passing interest.
We have had about four heads of departments and few underlings, three ministers, and now the Premier giving evidence.
And not one of them has been able to say who it was that gave the order to employ private security firms to contain the quarantined victims in the hotels.
It is the shoddy security that started this second wave, but nobody has owned up.
Its hard not to get the impression that the entire Victorian public service along with the ministers have been doing Sergeant Schultz impressions.
Now that all the duckshoving has taken place, and they have denied everything , I can only assume that the venerable judge will now call up the various security firms and ask who contacted them and who signed the invoices.
Then get that person on the stand and keep asking the question, who told you to do it.
Keep going up the chain until they find the person (or maybe an AI employee) who will admit to it, or until there is nobody higher up the chain.
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Yesterday, 12:11 PM


Group: Member
Posts: 2,816

Certainly interesting viewing.
As an example of the difference between causation and correlation, it is instructive to note the correlation of the suns 22 year cycle with Howes cycles.
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Yesterday, 06:41 AM


Group: Member
Posts: 2,816

So the correction was short lived.
Silver up, gold up, AUD own, DOW slightly up.
Don't think this is the end of it, expect further selling next week.
But then I could be completely wrong - again.
Mick
  Forum: Investment Discussion

mullokintyre
Posted on: Sep 24 2020, 10:14 PM


Group: Member
Posts: 2,816

Just heard that former Oz cricketer, Dean Jones died in Mumbai tonight.
best remembered for batting over 8 hours to make a double century in Madras to saver a test.
RIP deano.
  Forum: Off Topic Chat

mullokintyre
Posted on: Sep 24 2020, 12:35 PM


Group: Member
Posts: 2,816

Former ABC Journalist, Emma Alberici has announced a new gig with an Insurance Company.

From AFR


QUOTE
Almost a month since completing her departure from the ABC, ex-chief economics correspondent Emma Alberici has a new job. At multinational insurance comparison business Compare The Market, where she'll head up strategy and communications.



Unless I am mistaken, this org runs those clever ads with animated CG meerkats saying it is not "compare the meerkats". They even have their own website.

The business is owned by Budget UK.
Given Alberici's past difficulties with the comprehension of distinctions between profit and revenue, i wonder if she will do a number on the parent company and how little tax it pays in OZ??

Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Sep 24 2020, 11:16 AM


Group: Member
Posts: 2,816

Jim Rickards, in his Daily reckoning newsletter reckons there may be some election wilddcards coming up.
here are some he suggested.
QUOTE
Investors need to be on guard against one or more surprises that can come without warning. I call these the “wildcards” in the election season. It’s hard to know which one might emerge, but it’s not hard to forecast that at least one of them will. Investors should prepare accordingly. Here they are:

The Replacement of Joe Biden
The first wildcard is the potential that Joe Biden will be removed from the ticket soon and replaced by a more acceptable candidate, possibly New York Governor Andrew Cuomo. This is not as far-fetched as it sounds.

Biden is suffering acute cognitive decline. Whether this is dementia, early-onset Alzheimer’s Disease or the result of Biden’s two aneurysm-related neurosurgeries in the 1970s is hard to say without direct medical examination. Still, the cognitive impairment is obvious based on Biden’s vacant stare, confused demeanor and his inability to form sentences, complete thoughts or stay on topic.

The Biden campaign strategy so far has been to keep Biden under wraps and stuck in his basement. He does not do press conferences and his few interviews involve soft-ball questions and pre-scripted answers. Policies aside, the thought of Biden having to react in the midst of a crisis or a war will embolden America’s enemies and should chill Americans to the bone.

The crunch will come on September 29. That’s the date of the first presidential debate. Trump is an underrated debater with more command of the facts than critics give him credit for. He did well against Clinton in 2016 and will do the same if he faces Biden.

The real problem is not whether Biden can win a debate; it’s whether he can stand on the stage and speak and act coherently. Even with rehearsal and medication, this will prove exceedingly difficult.

The Democrats’ options are to replace Biden before the debate (which can be done at the DNC level without new primaries or a new convention), cancel the debates or go ahead and hope for the best.

The candidate replacement option doesn’t just solve the debate problem, it also gives the Democrats a better chance of a win in November. Canceling the debates (no doubt by playing the COVID-card) is a solution but it carries its own costs and highlights the problem (cognitive decline) it was meant to solve. Letting Biden go onstage live with Trump may be the riskiest choice of all.

There are no good solutions to having a mentally impaired candidate. In a normal election against a conventional Republican incumbent, Biden wouldn’t stand a chance. Of course, Trump’s not a conventional Republican incumbent, so a Biden vote is really an anti-Trump vote.

Any of the above choices set the race up for an unexpected shock, especially since Biden’s condition has been largely covered-up by a compliant media. Investors should brace for a shock on this front in the coming weeks.

Mail-in Ballots
Another shock-in-the-making is election day chaos resulting from the surge in mail-in ballots. These are not traditional absentee ballots that have long been used and have proved useful. This involves tens of millions of mail-in ballots intended to replace polling places and voting booths.

We can leave aside the issue of fraud in mail-in ballots (that’s a big issue but will likely not arise on election day itself; it can take weeks or months to identify and investigate such cases). The immediate problem is counting the ballots. Many mail-in ballots arrive at the last minute or even after election day. There will be issues concerning postmarks, matching signatures, timely delivery and the sheer time it takes to open the mail and visually inspect each ballot.

This mail-in ballot chaos won’t matter in states such as California or New York where Trump has almost no chance to win. The mail-in ballots will affect the final vote count, but they won’t affect the election winner because those states are solidly in the Biden column.

But, it could be crucial in swing states such as Michigan where Trump won in 2016 by 10,700 votes, and where millions of mail-in ballots are expected to be cast. What this means is that the election will not be decided on election day; it may take days or weeks to count the ballots and announce the winner in key states that will determine the electoral outcome.

Both sides are gearing up for this. The Trump and Biden campaigns have hired over 600 lawyers each to fan out across fifty states on election day demanding court orders on extended voting hours, impoundment of mail-in ballots and mandatory injunctions against certifying results.

Neither side will concede the election until these legal contests are resolved. A similar stalemate ensued in the 2000 election between George W. Bush and Al Gore. But, that was confined to a few counties in a single state, Florida. This stalemate will involve perhaps seven to ten states, all crucial to the outcome.

Two-time presidential loser Hillary Clinton added fuel to this fire by telling Showtime: “Joe Biden should not concede under any circumstances because I think this is going to drag out.”

This reveals the Democrats are already preparing for election day chaos.

The recent hoax about supposed efforts by the U.S. Postal Service to remove mailboxes to frustrate mail-in ballots is laying the predicate for election day charges of malfeasance. The reality is that mailboxes are routinely relocated for normal logistical reasons and the vast majority of mailbox relocations were done during the Obama administration.

The Chaos After Election Day Is Coming
Is there anything on the horizon worse than chaos on election day? Yes. It’s the prospect of chaos on the day after.

The one certain forecast is that the next two months will be a wild ride.

The Black Lives Matter and Antifa factions are preparing for a possible Trump victory. For them, it will be a vindication of their view that American democracy is inherently flawed, and the only solution is to destroy the system and start over.

The destruction will begin within 24 hours of a Trump victory in cities all over America. The riots and looting in Portland, Seattle, New York, Chicago and other major cities are just a warm-up for what will happen in the aftermath of a Trump victory.

The bottom line for investors is that the next 70 days will be among the most volatile in U.S. political history. An uncertain election outcome with extreme differences between the candidates would be enough to cause market volatility.

When one factors in a possible candidate switch, Biden’s cognitive decline, a delayed result due to mail-in ballots, refusal to concede the outcome, coast-to-coast election litigation and widespread riots, investors are facing a minefield of hidden dangers and catastrophic outcomes.

Reductions in equity allocations will reduce investor exposure to this litany of unexpected and shocking outcomes.

Cash will preserve wealth and reduce portfolio volatility. Gold will also provide a built-in hedge to adverse outcomes.

The last line is the most critical for me.
The rest is just just navel gazing.
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Sep 24 2020, 10:57 AM


Group: Member
Posts: 2,816

Up 20% today in a sea of red.
Could there be drill results coming??

Mick
  Forum: By Share Code

mullokintyre
Posted on: Sep 24 2020, 10:15 AM


Group: Member
Posts: 2,816

I really don't understand the civil suit program against Westpac.
If federal banking laws are broken, why is it not a federal criminal case?
And why are the employees/directors etc not charged?
These ar$eholes are paid massive salaries , but after 23 million offences, they get of scot free and it will be the shareholders who pay the price of their crimes.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Sep 24 2020, 08:34 AM


Group: Member
Posts: 2,816

Silver crunched again, now down 26% from its recent highs.
Gold is proving more resilient, still holding above the 2600 handle in AUD.
Would like to see it revisit that 2200 mark before I started loading up again.
DOW down 500 + points, cash has gone past the regal status to Emperor.
Can't be good for the ASX today.
Mick
  Forum: Investment Discussion

mullokintyre
Posted on: Sep 24 2020, 08:26 AM


Group: Member
Posts: 2,816

Silver pummelled again overnight.
Will stick some low ball buys for ARD and SVL in today in the hope of picking something up a lot cheaper than when I last sold them.
Mick
  Forum: Macro Factors

mullokintyre
Posted on: Sep 23 2020, 10:04 AM


Group: Member
Posts: 2,816

If at the same time, all these experts published stats on what they got wight, what they got wrong, and what was neutral, I might give them some weight.
Their research teams may do lots of research and analysis, but its what they read from the research and analysis, then what they recommend , is what really counts.
Mick
  Forum: Investment Discussion

mullokintyre
Posted on: Sep 23 2020, 09:41 AM


Group: Member
Posts: 2,816

Silver continuing its fall, now down 16% from its recent high.
Hope the crunch goes further as I sit on the sidelines waiting.
Mick
  Forum: Macro Factors

mullokintyre
Posted on: Sep 23 2020, 09:39 AM


Group: Member
Posts: 2,816

Opinions are like bums, everyone's got one.
Mick
  Forum: Investment Discussion

mullokintyre
Posted on: Sep 22 2020, 11:08 PM


Group: Member
Posts: 2,816

And on another front in the "we really don't know much" department.
From NEWSZONE

QUOTE
An oval-shaped area of lower magnetic intensity in the atmosphere between South America and Africa is causing concern to NASA over the potential danger it poses to satellites and spacecraft that pass through it, the website ScienceAlert.com reported.

The South Atlantic Anomaly, first identified in 1958, appears to be dividing into two different cells, one over South America and the other off the coast of South Africa.

The concern is due to the fact the weakened magnetic field results in the closest approach of the Van Allen radiation belts to the Earth's surface. That leaves what some scientists refer to a "pothole" or "dent" in which charged solar particles can sail through the Earth's atmosphere and wreak havoc on electronic components, causing them to short-circuit and malfunction."The observed SAA can be also interpreted as a consequence of weakening dominance of the dipole field in the region," according to geophysicist and mathematician Weijia Kuang at NASA's Goddard Space Flight Center in Greenbelt, Maryland.

"More specifically, a localized field with reversed polarity grows strongly in the SAA region, thus making the field intensity very weak, weaker than that of the surrounding regions."

The consequences are that man-made satellites, such as the International Space Station, must take precautions when their orbits take it through the zone. Some satellite operators must routine shut down their equipment to avoid significant data loss or even permanent damage to key components.

Studies have indicated not only is the zone splitting, it appears to be moving to the northwest.

"Even though the SAA is slow-moving, it is going through some change in morphology, so it's also important that we keep observing it by having continued missions," Goddard geophysicist Terry Sabaka said.

"Because that's what helps us make models and predictions."


Had a bit of a chuckle over that last bit.
Their models and predictions didn't show the anomaly, only by the very basic science principle of observtion ond measurement did it get discovered.

Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Sep 22 2020, 04:12 PM


Group: Member
Posts: 2,816

All out of ALK. PE is now in mid 60's would need a big increase in gold prices in AUD to bring that down to an acceptable level.
Been a great ride though, and the ASM iPO was the icing on the substantial cake.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Sep 22 2020, 04:07 PM


Group: Member
Posts: 2,816

HLS reached a 52 week high today on some above average volume.
Not sure why the punters are piling in, maybe they are expecting some sort of announcement at the upcoming AGM.I'll take it whatever the reason.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Sep 22 2020, 12:47 PM


Group: Member
Posts: 2,816

It reinforces to me just how much we really don't know about a lot of things..
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Sep 22 2020, 07:36 AM


Group: Member
Posts: 2,816

It seems my all time fav investment Bank, JPM, along with its highly paid and credentialled leader, Jamie Dimon, have run into a spot of bother.
From Wall street on Parade

QUOTE
The International Consortium of Investigative Journalists (ICIJ) has once again managed to do what federal bank regulators refuse to do in the United States – come clean with the American people about our dirty Wall Street banks.

ICIJ dropped a bombshell investigative report yesterday about money laundering for criminals at some of the biggest banks on Wall Street, but you won’t find a peep about it on the front page of today’s Wall Street Journal or New York Times’ print editions. In fact, the New York Times, as of 6:44 a.m. this morning, hasn’t reported the story at all. The Wall Street Journal carries an innocuous headline, “HSBC Stock Hits 25-Year Low,” putting the focus on the British bank, HSBC, when its focus should be on the largest bank in the U.S., JPMorgan Chase, a serial felon.JPMorgan Chase was involved in moving illicit funds for the fugitive, Jho Low, involving the notorious looting of public funds in Malaysia. Jho Low has been accused by multiple jurisdictions of playing a key role in the embezzlement of more than $4.5 billion from a Malaysian economic development fund, 1MDB. JPMorgan Chase moved $1.2 billion in money for Jho Low from 2013 to 2016, according to the report.

The ICIJ bombshell includes the charge that JPMorgan also “processed more than $50 million in payments over a decade, the records show, for Paul Manafort, the former campaign manager for President Donald Trump. The bank shuttled at least $6.9 million in Manafort transactions in the 14 months after he resigned from the campaign amid a swirl of money laundering and corruption allegations spawning from his work with a pro-Russian political party in Ukraine.”

More troubling activity at JPMorgan Chase includes the following, according to ICIJ investigators:

“JPMorgan also moved money for companies and people tied to corruption scandals in Venezuela that have helped create one of the world’s worst humanitarian crises. One in three Venezuelans is not getting enough to eat, the UN reported this year, and millions have fled the country.

“One of the Venezuelans who got help from JPMorgan was Alejandro ‘Piojo’ Isturiz, a former government official who has been charged by U.S. authorities as a player in an international money laundering scheme. Prosecutors allege that between 2011 and 2013 Isturiz and others solicited bribes to rig government energy contracts. The bank moved more than $63 million for companies linked to Isturiz and the money laundering scheme between 2012 and 2016, the FinCEN Files show…”


At least they are consistent.

Mick
  Forum: Investment Discussion

mullokintyre
Posted on: Sep 22 2020, 07:21 AM


Group: Member
Posts: 2,816

Wow, Silver down by 2 bucks overnight.
Gold was also smacked, though not as hard.
Given the fall in Dow last night, plus the big jump in the USD index, looks like people running for cover into cash.
Reckon it will be a sea of red here today.
Mick
  Forum: Investment Discussion

mullokintyre
Posted on: Sep 22 2020, 07:19 AM


Group: Member
Posts: 2,816

Wow, Silver down by 2 bucks overnight.
Thats a pretty good dumping.
Had some low ball bids back in at SVL, but will cancel them until I see a bit of a recovery.
Gold was also smacked, though not as hard.
Given the fall in Dow last night, plus the big jump in the USD index, looks like people running for cover into cash.
Mick
  Forum: Macro Factors

mullokintyre
Posted on: Sep 21 2020, 09:13 PM


Group: Member
Posts: 2,816

So how many of us are aware of the Dzhanibekov Effect or Tennis Racket Theorem?
here is a video that demonstrates its effect, and goes a good way to explaining why.
Bizarre behaviour of Spinning objects.
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Sep 21 2020, 01:00 PM


Group: Member
Posts: 2,816

Looks like wikipedia has been hacked. More power to that hacker!
Dan

Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Sep 21 2020, 11:52 AM


Group: Member
Posts: 2,816

Added some more IPL today.
The fertiliser side of the business should do pretty well this year, and the explosives side seems to be quietly ticking long.
The only worry is that the recent interest in Ammonia as a feedstock for Hydrogen production might have an impact on prices, although according to ICIS, Ammonia went into oversupply during the last quarter of 2019. The recent slowdown in world trade has also dampened demand for Ammonia.
If the feedstock prices do increase, I at least have shares in WES which owns one of only two plants that produces Ammonia in WA.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Sep 21 2020, 11:42 AM


Group: Member
Posts: 2,816

with good rain across NSW, VIXC and a few parts of SE Qld, bumper crops of conola, wheat , chick peas and a few others are on the cards.
BOM predicting a shift back to La Nina conditions for a while, so yields should be up.
prices of wheat are down from recent highs, but was reading how one of the other big grain producers, Canada, unlike some other parts of the world, has had a gradual cooling over the last decade or so which has started to reduce yields.
Added a few more GNC this morning.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Sep 21 2020, 11:35 AM


Group: Member
Posts: 2,816

Thats it, I'm out.
Thats too good a profit to pass up.
Will probably go much higher now.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Sep 21 2020, 11:09 AM


Group: Member
Posts: 2,816

As a loyal Victorian , I am astounded at the level of compliance that my fellow Vics have agreed to (some more reluctantly than others).
Now we have the complete stasi like corrupted executive in full dictator mode.

The piece of legislation introduced into Victorian parliament, called an Omnibus Bill
is something that i never thought was possible in OZ.
.n most democracies the power to arrest is confined to police and those with specialist police training.
The Daniel Andrews government plans to give powers that go beyond the powers of many police to a class of person to be known as “designated authorised officers” There will no limit to their numbers.

The first power of these “designated authorised officers“ is be able to detain (that can mean jail) a “high risk person”. A high-risk person is one that has been notified and diagnosed with COVID-19 and has not been given clearance from self-isolation. A “high risk person” can also be a “close contact“ of a person who has been diagnosed with COVID-19.

But then the proposed legislation goes one dramatic step further and gives “designated authorised officers” power to detain a person who is “likely“ to refuse or fail to refuse a direction. So, these “designated authorised officers” are to have the power to detain people who have not done anything wrong, but are “likely” to do something wrong. As the bill is written they can arrest anyone on that pretext. We saw these sort powers in pre-war Germany. We see it today in China, in Bulgaria, in Russia.
Who is eligible to be a “designated authorised officer?“ First they must be selected by a public servant who carries the title of secretary of the relevant department. That public servant can choose anyone they consider “appropriate for appointment based on the persons skills, attribute experience or otherwise”. It takes little imagination to realise just how far this can go.
And for all those Lborites who see this as a good thing, what happens if the a more conservative government gets in power and they start using this legislation to give these powers to their accolytes. Imagine the outrage.

The power to detain people should be restricted to police and not available to just about anyone.
And there should be never be unrestricted powers to anyone, including police when it comes to detention. without charge or a court orderd warrant.
And for police, much less non-police be able to use their power to detain a person who is “likely” to do something – not actually having done it - is frightening for a democracy. This is what dictators do.
How the hell have we got to this.

Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Sep 21 2020, 09:58 AM


Group: Member
Posts: 2,816

I am not investing in land for housing, I am investing in Agricultural land.
Some of it may eventually end up as housing developments, but I hope not.
Its prime ag land with good soil structure, close to water supply facilities.
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Sep 20 2020, 09:30 PM


Group: Member
Posts: 2,816

Yes, RBG's death has had a profound impact on many people.
Twitterati

Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Sep 20 2020, 07:33 PM


Group: Member
Posts: 2,816

Another one for the hypocrisy files.
From The OZ
QUOTE
Remember how we were all in this together?

Yes, well, it’s maybe time to forget that. Because if there is one thing this pandemic has shown us it’s that fame and money make the difference.

As for the people who are making the decisions to let the rich and famous get flights, and dodge hotel quarantine?

The latest outrage concerns Lord Sugar.

No, of course you’ve never heard of him, but never mind that.

He’s a celebrity in the UK! A self-made multi-millionaire! And if that’s not enough to impress you, he’s also the new host of Celebrity Apprentice Australia!
But at least in 14 day Quarantine isn't he?
Actually, no, that’s bunk.
He has in fact been given an exemption from hotel quarantine, just like Nicole and Keith, and Dannii and Tom Hanks and other stars working on the Elvis movie, and so on.

So, on one hand, you’ve got parents with toddlers stuck for two weeks in rooms without windows.

And then you’ve got Lord Sugar, ‘making his own arrangements.’

This in the nation that roundly rejected all that Bunyip Aristocracy nonsense, back in the 1850s.

That nation where Jack’s as good as his master, and probably even better.

Where passengers until very recently rode in the front seat of the taxi, and there was no tipping, since everyone earned a decent wage.

Well, hasn’t that proven to be a total crock? And sure, maybe it always was, but please at least spare us all the “we’re all in this together” nonsense.

Do you know something really revolting?

They put Charlie Gray — the partner of one of the young Australians lost at sea, after a live export ship capsized — in hotel quarantine for two weeks, leaving her to sit alone, night after night, to ponder his fate.

There was no exemption for her.

But sure, let’s all tug our forelocks for Lord Sugar. How sweet it must be.


Don't know which of the myriad governments let this one slip through, but it would seem to be with the connivance of both the NSW and Federal governments.
Didn't trump start off as the host of Celebrity Apoprentice?
Perhaps his sweetness is aiming to be president of the UK when the Queen finally falls off the Perch.
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Sep 20 2020, 09:36 AM


Group: Member
Posts: 2,816

Gold is currently in a bit of aholding pattern (at least in AUD terms).
A quick look at the 5 year gold chart sees a flat period from 2015 at around 1600 to sep 2018 when it was still 1600.
It then had a pretty much continual rise from then to early this year when it hit 2600 and stayed there before a quck 200 dollar fall, then a climb up to its recent 2800 high before returning to the 2600 current levels where it has settled.
Unless there is another earth shattering event (like a war, Trump winning retaining his job as POTOS, or Collingwood winning the AFL premiership), I suespect we will stay at these levels for while.
Have stated to sell down my overly large gold portfolio to shift into property (not houses, but bare land),
Mick

  Forum: Investment Discussion

mullokintyre
Posted on: Sep 20 2020, 09:02 AM


Group: Member
Posts: 2,816

Ya full of crap plastic.
Australia has been built on immigration.
Notwithstanding the decimation of the original inhabitants, the orignal settlers were irish and English.
Post war immimgration from a Europe decimated by war have been a roaring success for OZ.
The Snowy Scheme was largely built with migrant labourers who then spread to all parts of the country.
The Vietnamese boat people were vilified when they first arrived, but now are an integral part of Australian culture and history.
The greeks and their fish and chip shops, Italians with their green grocer shops,.
The Turks growing tomatoes. The Albanians in fruit growing.
And the list goes on. In every case Australian life and culture has been shaped by these new arrivals.
Just the massive increases in food selections has been worth it alone.
Yes there have been problems, African Youth gangs, Asian drug peddlars, an increase in religious Terrorism, but there has been a significant net gain.
Some aspects of overseas culture such as the female genital mutilation, forced marriages and general treatment of women as second class citizens we really don't want.
But over time with education and generational changes, things generally get better.
When I look at my circle of friends and acquaintances, and look at their backgrounds, it like having my onw personal u ited nations.
Immigration has been a significant net benefit.
Mick (fifth generation irish/English/Italian/German/and a few others as well)

  Forum: Off Topic Chat

mullokintyre
Posted on: Sep 19 2020, 04:31 PM


Group: Member
Posts: 2,816


As I said the other day
QUOTE
No mention of fines, or arrests here. Maybe the police will yet charge them, I hope they have their mobile phones on if and when that happens.
Compare this treatment to the people arrested for protesting.
Will Assistant Commissioner Cornelius describe these families as "bat shit crazy" as he described the protesters?
I don't think so
.

Well, theres my answer.
From the OZ

QUOTE
Victorian Premier Daniel Andrews has defended his decision to not issue fines to the families behind the Casey coronavirus outbreak, which now has 34 associated cases and has seen at least two people hospitalised.

Members of five different households broke restrictions and visited each other while infectious.

“I will concede this might be a counterintuitive point and perhaps we would all feel better if they got stuck with a fine, but the value of information that allows you to take one test result and identify the 33 other people who have got it, is much more than $1652,” Mr Andrews said on Saturday.

“I think that if you start [issuing fines to positive cases], you run the very real risk that people are not full and frank in the interviews, or indeed some people may not come forward and get tested, if they fear that they can’t do that in an open process. If we were to try and do a kind of retro-analysis of every one of the now close to 20,000 interviews that we have done, through the course of those interviews, many, many people in many different ways will have essentially admitted to doing certain things, and it is about trying to balance up. We might all feel better if those five families got a fine, but ultimately the value of the fine is nothing compared to the value of the information that they give us.”

He said “any sense of satisfaction that we might collectively get by these people getting fined would be very short lived”.

“They will be talking about what they have already done, so that behaviour can’t be changed,” Mr Andrews said.“The value of that information far exceeds anything, far exceeds any fine. Fines and penalties and enforcement is not about trying to change things that happened in the past. It is about trying to make sure that people have the motivation to do the right thing. What you would never want is a situation where somebody decided not to get tested because they then, because they felt that that might lead to them, but there might be some sense of stigma or shame or a financial penalty for having got this thing.”

Chief medical officer Brett Sutton said the cluster linked to the five households was “under control” but could still grow.

“We will always look out over the 14 day period when the new cases can emerge – 14 days from the time of last exposure,” Professor Sutton said.

“So there is absolutely a possibility of additional cases. What we do know is people isolating appropriately and that close contacts are in quarantine but people have obviously been exposed to the virus and they can develop illness any time up to 14 days after having been exposed.”

Professor Sutton said two cases linked to the cluster were in hospital, but the total number of cases in the wider Casey local government area had decreased from 74 to 67.


I shakes me head in disbelief.

The pregnant women who was arrested in her home , or the protestors in Melbourne have just been given a box full of ammo to shoot down the actions of the police and of the Andrews government.
Thats assuming any of this stuff ever actually gets to court.
mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Sep 19 2020, 12:48 PM


Group: Member
Posts: 2,816

News that Ruth Bader Ginsberg has died will make a push to get another conservative on the SCOTUS really quickly.
Not sure if Trump and the republicans will be able to pull it off, there is a veru good argument that says wait till the election is over.
But then again, it might be argued that there needs to be an odd number so as to negate the prospect of a "hung judiciary of 4 all.
This may be pivotal given the very likely possibility of there being numerous court challenges in the aftermath of the election.
mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Sep 18 2020, 05:29 PM


Group: Member
Posts: 2,816

Another for the hypocrisy files.
This report from todays OZ.

QUOTE
Contact tracing has identified five linked households in Melbourne’s south-east that are at the root of the latest coronavirus outbreak in the area.

Of 90 active cases in the Casey and Dandenong areas, a cluster of 34 cases have spread across five households where members were found to have travelled further than the five-kilometre limit and visited each others’ homes.
Mr Weimar said investigations had discovered members of those households had travelled for essential reasons, such as for shopping, including to the Fountain Gate Shopping Centre, largely within five kilometres from their homes.

“But we’ve also seen within this cluster [the] visiting of houses beyond five kilometres radius …. so these five houses that have had unfortunately some members visiting other households

“Relatively infrequent contact … has now meant we have 34 people in five houses exposed to or living with a very real threat of the coronavirus.”

Deputy Chief Health Officer Allen Cheng said the revelation was “disappointing”.

No mention of fines, or arrests here. Maybe the police will yet charge them, I hope they have their mobile phones on if and when that happens.
Compare this treatment to the people arrested for protesting.
Will Assistant Commissioner Cornelius describe these families as "bat shit crazy" as he described the protesters?
I don't think so.
On a side note, it is instructive that the OZ article mentions the followings
QUOTE
The Australian reported on Friday urgent meetings have been held with multicultural community leaders and local councils in Melbourne‘s outer southeast in the wake of the outbreak.

The cluster, which is understood to be linked to multiple households and have links to the local Afghan community, includes unknown source cases.

Premier Daniel Andrews said the outbreak had been complex but had been managed “very well”.

He said there could be some more cases emerge but “we believe we’ve got our arms around this”.

“We have a high degree of confidence we have contained this.”

Mr Andrews also said the cluster spoke to how rapidly the virus spreads and that people visiting others’ homes without a valid reason were risking undermining the state’s recovery strategy.

He said it wasn’t a reflection on an individual community or postcode.


The same story on the ABC news website mentions nothing about the ethnicity of the homes at all.

Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Sep 18 2020, 02:01 PM


Group: Member
Posts: 2,816

Another for the hypocrisy files.
FromABC News

QUOTE
The Australian Government dished out JobKeeper payments to the Sydney-based campus of New York University (NYU) — while all Australian public universities missed out.NYU, which rakes in about $16.5 billion in revenue each year, is ranked the 11th best school in the US and sits just outside the prestigious Ivy League.

It is unclear how much money NYU received, but the ABC has confirmed it did receive payments to distribute to staff.

In May, private universities such as Notre Dame University, Bond University, Torrens University and the University of Divinity were granted an exemption to the existing JobKeeper eligibility criteria placed on all other universities.

Overall, Australia's 39 public universities receive $18 billion in Federal Government funding for domestic students, but none have received JobKeeper.

Greens Senator Mehreen Faruqi said although she did not want to deny Sydney-based NYU staff "relief", there was a double standard.

"The Government should have exactly the same rules for universities and not try to exclude public universities," Senator Faruqi said.

NYU's Sydney campus did not respond to a request for comment and Education Minister Dan Tehan directed questions to Treasurer Josh Frydenberg, who administers JobKeeper.

The Treasurer said all universities were "eligible" for JobKeeper, but the only reason Australia's public universities did not qualify was that the sector's falls in revenue were not steep enough.


What Frydenberg really means is that the UNI's were not able to massage their figures to get the required 30% drop.
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Sep 18 2020, 01:53 PM


Group: Member
Posts: 2,816

For those interested in the creation of the rogue that is the US fed, The Book ,The Creature from Jekyll Island by Ed Griffin makes fascinating reading.
As they say, money talks.
Really big money yells.
Mick
  Forum: Macro Factors

mullokintyre
Posted on: Sep 18 2020, 01:41 PM


Group: Member
Posts: 2,816

ALk hitting another 52 week high.
It is now up 45% since late August.
Taking the profits today, but will keep a few just in case.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Sep 18 2020, 01:23 PM


Group: Member
Posts: 2,816

52 week high today of 14.
Back a bit to 12.5, but still up 28% for the day so far.
Up 300% since early july.
So just how far will it go?
I have never in all my years of investing/trading had a ten bagger.
I am going to break all my standard rules of regularly taking profits in the hope of achieving the semi mythical ten bagger.
My average buy in price is a tad below .07, so have a bit of a way to go.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Sep 18 2020, 09:43 AM


Group: Member
Posts: 2,816

and they call this science?
FromABC News

QUOTE
The team of psychologists wanted to get to the bottom of previous research that found you can tell a narcissist just by looking at their face.

Their study narrowed it down to to the eyebrows. Thick, dark and dense ones were a dead giveaway for a 'grandiose narcissist' — someone who is vain, entitled and superior, and ticks the survey options that say 'I have a natural talent for influencing people,' 'I am a born leader?' and 'I like to show off my body'.

The researchers confirmed their surprise findings through research on hundreds of people, and the results were published in the Journal of Personality last year.

"It was a pretty data driven study," said Miranda Giacomin from MacEwan University.

Still, Dr Giacomin added, it's important to be thoughtful about the results.

"Obviously in our day-to-day lives we don't just judge people based on their eyebrows."


Yeah, right.
mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Sep 17 2020, 01:50 PM


Group: Member
Posts: 2,816

I sometimes wonder at the mainstream media as to why they don't ask the bleedin obvious questions of Politicians.
1. Anthony Albanese says the PM should use the Air force VIP fleet to bring home stranded Aussies.
The question no one seemed to ask is this:
Given that most commercial planes that come into OZ are running at barely 30% capacity, why do we need the VIP fleet to make trips?
Why not just use more of the existing commercial flights every day.
Perhaps an argument might be made to use it to get to remote areas where no commercial flights are going in or out, and bring them to a central hub such as Dubai, but theres no guarantee the various countries are going to let a foreign airforce jet into their country anyway.
It would be cheaper for the government to pay the first class fares of stranded ozzies than pay the cost of sending empty planes out and back.
2. If they did decide to send the VIP fleet where do they bring them back to given that every state has imposed limits on the number of overseas arrivals?
Why are the premiers/territory Ministers resisting imcreasing the numbers they will accept?
is it just because they don't want to fork out the cost?
Is it because they don't want their covid case numbers to go up?
Australia, shambolic, we need to get rid of the states altogether. They add nothing, cost huge amounts or scarce resource and impede the ciuntry.
Mick

  Forum: Off Topic Chat

mullokintyre
Posted on: Sep 17 2020, 01:14 PM


Group: Member
Posts: 2,816

And once again, OZ cricketers make fools of us.
After having the POMS 2/0 off Starcs first two balls, then 4/94, they let em get away to 307.
But then to the amazement of almost everyone, Carey and Maxwell rack up the highest 5 wicket partnerships in ODI's, with both getting centuries.
Stoinis, 4, Marsh 2.
I suppose it doesn't matter whether you win with down or 9 down, the win is the important thing.
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Sep 17 2020, 10:59 AM


Group: Member
Posts: 2,816

The talk of the US dollar losing its glitter as THE reserve currency has been out for at least the 12 to 15 years that I can recall, and yet we are no closer to its demise.
The biggest problem as always, is with what do the traders/banks/despots of the world replace it with?
The US Fed is not an isolated incident in the debasement of your currency position.
There is no major CB in the world that is not doing what the US Fed is doing.
So where do you go to? Every other major currency has problems, and whats more, a distinct lack of trust in the people working the levers.
The other issue is that all of those third world despots looting their country's reserves prefer the USD to anything else.
And they are a big market for hard currency.
The last time I was in Africa, the locals refer to the US dollar as a very desirable thing, followed by the UK pound , Euro and swiss frncs.
They referred to the chinese renmimbi as play money.
Things such as dinars, roubles, etc were almost impossible to offload.
I was reading this morning that Nuw Zilund economy fell by 12% last quarter, after a 2.1 % fall the previous quarter.
With their debt expected to grow by 200 million to over 3 billion this year.
Mick
  Forum: Macro Factors

mullokintyre
Posted on: Sep 16 2020, 09:36 PM


Group: Member
Posts: 2,816

Just a little more on my personal distatse for Jamie Dimon and his bank, This Article from Ther Nation says so much about them

QUOTE
After JPMorgan’s deceitful activities in the housing market helped trigger the 2008 financial crash that cost millions of Americans their jobs, homes, and life savings, punishment was in order. Among a vast array of misconduct, JPMorgan engaged in the routine use of “robo-signing,” which allowed bank employees to automatically sign hundreds, even thousands, of foreclosure documents per day without verifying their contents. But in the United States, white-collar criminals rarely go to prison; instead, they negotiate settlements. Thus, on February 9, 2012, US Attorney General Eric Holder announced the National Mortgage Settlement, which fined JPMorgan Chase and four other mega-banks a total of $25 billion.

JPMorgan’s share of the settlement was $5.3 billion, but only $1.1 billion had to be paid in cash; the other $4.2 billion was to come in the form of financial relief for homeowners in danger of losing their homes to foreclosure. The settlement called for JPMorgan to reduce the amounts owed, modify the loan terms, and take other steps to help distressed Americans keep their homes. A separate 2013 settlement against the bank for deceiving mortgage investors included another $4 billion in consumer relief.A Nation investigation can now reveal how JPMorgan met part of its $8.2 billion settlement burden: by using other people’s money.

Here’s how the alleged scam worked. JPMorgan moved to forgive the mortgages of tens of thousands of homeowners; the feds, in turn, credited these canceled loans against the penalties due under the 2012 and 2013 settlements. But here’s the rub: In many instances, JPMorgan was forgiving loans it no longer owned.

The alleged fraud is described in internal JPMorgan documents, public records, testimony from homeowners and investors burned in the scam, and other evidence presented in a blockbuster lawsuit against JPMorgan, now being heard in US District Court in New York City.

JPMorgan no longer owned the loans because it had sold the mortgages years earlier to 21 third-party investors, including three companies owned by Larry Schneider. Those companies are the plaintiffs in the lawsuit; Schneider is also aiding the federal government in a related case against the bank. In a bizarre twist, a company associated with the Church of Scientology facilitated the apparent scheme. Nationwide Title Clearing, a document-processing company with close ties to the church, produced and filed the documents that JPMorgan needed to claim ownership and cancel the loans.
“If the allegations are true, JPMorgan screwed everybody.” —former congressman Brad Miller

JPMorgan, it appears, was running an elaborate shell game. In the depths of the financial collapse, the bank had unloaded tens of thousands of toxic loans when they were worth next to nothing. Then, when it needed to provide customer relief under the settlements, the bank had paperwork created asserting that it still owned the loans. In the process, homeowners were exploited, investors were defrauded, and communities were left to battle the blight caused by abandoned properties. JPMorgan, however, came out hundreds of millions of dollars ahead, thanks to using other people’s money.

“If the allegations are true, JPMorgan screwed everybody,” says Brad Miller, a former Democratic congressman from North Carolina who was among the strongest advocates of financial reform on Capitol Hill until his retirement in 2013.

In an unusual departure from most allegations of financial bad behavior, there is strong evidence that Jamie Dimon, JPMorgan’s CEO and chairman, knew about and helped to implement the mass loan-forgiveness project. In two separate meetings in 2013 and 2014, JPMorgan employees working on the project were specifically instructed not to release mortgages in Detroit under orders from Dimon himself, according to internal bank communications. In an apparent public-relations ploy, JPMorgan was about to invest $100 million in Detroit’s revival. Dimon’s order to delay forgiving the mortgages in Detroit appears to have been motivated by a fear of reputational risk. An internal JPMorgan report warned that hard-hit cities might take issue with bulk loan forgiveness, which would deprive municipal governments of property taxes on abandoned properties while further destabilizing the housing market.

Did Dimon also know that JPMorgan, as part of its mass loan-forgiveness project, was forgiving loans it no longer owned? No internal bank documents confirming that knowledge have yet surfaced, but Dimon routinely takes legal responsibility for knowing about his bank’s actions. Like every financial CEO in the country, Dimon is obligated by law to sign a document every year attesting to his knowledge of and responsibility for his bank’s operations. The law establishes punishments of $1 million in fines and imprisonment of up to 10 years for knowingly making false certifications.
Federal appointees have been complicit in this as well. E-mails show that the Office of Mortgage Settlement Oversight, charged by the government with ensuring the banks’ compliance with the two federal settlements, gave JPMorgan the green light to mass-forgive its loans. This served two purposes for the bank: It could take settlement credit for forgiving the loans, and it could also hide these loans—which JPMorgan had allegedly been handling improperly—from the settlements’ testing regimes.

“No one in Washington seems to understand why Americans think that different rules apply to Wall Street, and why they’re so mad about that,” said former congressman Miller. “This is why.”.


So, not only did they commit the original fraud for which they were fined and forced to pay restitution, they defrauded a second time on the payment of the restitution.
And once again, one of the federal agenc ies responsible for oversight was complicit in the scam.
I rest me case m'lud.
Mick
  Forum: Investment Discussion

mullokintyre
Posted on: Sep 16 2020, 09:23 PM


Group: Member
Posts: 2,816

I am thinking of leaving Victoria, but where do I go??
It will also most likely cost me a divorce.
Not sure I want nor be able to afford that.
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Sep 16 2020, 08:05 PM


Group: Member
Posts: 2,816

Vicpol have gone full takeover.
Not even a nod to the Parliament on this one
From ABC NEWS

.
QUOTE
Melbourne residents who try to sneak into regional Victoria to enjoy the relaxing of restrictions in the country have been warned they face fines of almost $5,000…

Victoria Police’s deputy commissioner of regional operations, Rick Nugent, said police would introduce a new offence to deter people from trying to leave Melbourne without a permitted reason…


Who the hell gave them permission to make laws??
Where in the state of emergency declaration did this appear?

I am so Pissed off I am seriously considering joining the Liberal party!

Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Sep 16 2020, 02:25 PM


Group: Member
Posts: 2,816

How on earth can the board of star possibly have approved this??
from todays OZ

QUOTE
Casino group Star Entertainment has paid its top executives $1.4m in bonuses after it put its hand out for $130m in taxpayer cash to fund the wages of almost 7000 staff it stood down in April.

The company opted to pay out its short-term incentive (STI) payments in the form of deferred equity this year to “preserve cash” during the COVID-19 pandemic.The company opted to pay out its short-term incentive (STI) payments in the form of deferred equity this year to “preserve cash” during the COVID-19 pandemic.

Chief executive Matt Bekier received $829,872 in deferred equity on top of his $1.56m base salary, taking his total remuneration to $2.36m. Three other executives shared in the remainder of the $1.4m in bonuses.

But Mr Bekier could have received more. He agreed to a 40 per cent pay cut, while non-executive directors took a 50 per cent cut to their fees.

Star remuneration committee chair Sally Pitkin said while the group did not hit its STI target, the board decided to pay STI bonuses in the form of deferred equity, which is subject to a one year retention restriction because the group was performing ahead of budget before the COVID-19 pandemic struck.

“The group did not achieve the financial gateway under the STI, however, the board has decided to exercise its discretion to make limited equity awards under the FY20 STI,” Ms Pitkin said in the group’s annual report.“The group was performing strongly against all key strategic and operational metrics in FY20 until the COVID-19 pandemic occurred, requiring the mandatory shutdown of operations in March 2020. Pre-COVID-19, Normalised NPAT up to the end of February 2020 was 15.6 per cent ahead of the (prior corresponding period) and 5 per cent ahead of budget.

“Both guest satisfaction and safety measures were at or above expectations. Following the impact of COVID-19, the group’s full year normalised NPAT of $120.8m was 46 per cent below the prior year and 49 per cent below target.”

The group stood down about 90 per cent of its workforce after the federal, NSW and Queensland governments banned non-essential businesses on March 25, leading to the cessation of Star’s gaming activities and closure of food and beverage outlets.

Its annual report revealed Star expected to receive up to $130m under the federal government’s JobKeeper wage subsidy to pay the wages of almost 7000 staff up to September 27.


Where are all the Superfund managers, those who say they are keeping a sharp watch on boards to make sutre they are inclusive, have a social conscience bla bla bla.
dead silence.
Hope you are reading this Henrietta,
Their hypocrisy is stunning, if not unexpected.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Sep 16 2020, 01:37 PM


Group: Member
Posts: 2,816

Up 30% so far today.
No announcements, must be leaking of drill results.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Sep 16 2020, 01:31 PM


Group: Member
Posts: 2,816

I agree that he has made smart decisions to increase wealth for JPM, but then he has had a lot of help fro authorities.
And yes some of the points he made are quite correct.
The problem I see is that he has already set JPM to benefit from his wisdom before releasing these things to market.
A bit like a broker having a whole lot of shitty stock and then putting out a glowing report on that same stock so they offload it.
Mick
  Forum: Investment Discussion

mullokintyre
Posted on: Sep 16 2020, 12:27 PM


Group: Member
Posts: 2,816

Howdy EB, he hasn't done anything personally to me, although JP Morgan is one of the biggest purpertrators of the fraud that sees the paper traders screwing the COMEX market for both gold and silver every day for the past thirty years. But thats another story.
My intense dislike and distrust of the likes of JP Morgan/Jamie Dimon is equally shared by all the major commercial banks in the US system.
They have done over the average American for years, ensured they get special treatment courtesy of owning the FED, and are a good part of the inequality of wealth, health and living standards in the US today.
Who was the bank that had their snouts in the trough with Bernie Madoff and the biggest Ponzi scheme in History?
If you can find it, have a look at the hecklers aiming for Dimon when he appeared before the senate banking inquiry in 2012 I think it was.
This quite from Wall street on parade almost exactly a year ago This time last year
QUOTE
Yesterday, three traders at JPMorgan Chase, the bank headed by Jamie Dimon, got smacked with the same kind of criminal felony charge that was used to indict members of the Gambino crime family in 2017. The charge is racketeering and falls under the Racketeer Influenced and Corrupt Organizations Act or RICO. According to the Justice Department, the traders engaged in a pattern of rigging the gold, silver and other precious metals markets from approximately May 2008 to August 2016.

Jamie Dimon organised a downgrading of a perfectly healthy bank, Wamu (Washington Mutual) back in the early 200's so that JPMC could buy it on the cheap.
Do a search on the bank, Sheila Blair, who was then head of the FDIC, and see the sorts of tricks they got up to to devalue a healthy bank.
I could go on, but I am sure you get the picture.
In all of these cases, the regulatory authorities, turned a blind eye, or in the case of the WAMU takeover, they were in complete connivance.
Have a nice day!
Mick

  Forum: Investment Discussion

mullokintyre
Posted on: Sep 16 2020, 11:48 AM


Group: Member
Posts: 2,816

From the article Plastic linked below
QUOTE
These reports come as a shock, since Corbat was being lauded just the other day for his progressive vision in maneuvering Fraser into position to be his replacement. It's certainly a blemish that Corbat, who has served as CEO since 2012, will see tarnish his legacy on his way out, while also making Citi vulnerable to political backlash during an election year.


A stunning example of the lax regulatory bodies when its more likely that poilitical backlash is a greater punishment than what the regulatory bodies themselves have done.
Wall street on parade

outlines the enormously unethical immoral, and probably downright illegal of Citibank.
QUOTE
The business media was abuzz yesterday with reports that two of Citigroup’s federal regulators – the Office of the Comptroller of the Currency and the Federal Reserve – are considering reprimanding the bank for failure to improve its risk management systems. Trust us: there is a lot more to this story than you’re reading about in the main stream press. Citigroup doesn’t do anything small. When it does something bad, it goes all in – sometimes even assigning a code name.

Let’s start with the “Dr. Evil” trade. That was actually the code name that Citigroup traders assigned to an attempt to exploit a weakness in a European bond trading system. Citigroup was fined $26 million in 2005 by Europe’s Financial Services Authority for the trades.

Citigroup employees gave another code name, “Buca Nero” – Italian for “Black Hole” – to an accounting maneuver that made debt appear to be an investment at the debt-strapped Italian dairy company, Parmalat. The company collapsed in 2003 in what became Europe’s largest ever bankruptcy.

In 2005 Citigroup settled with the Securities and Exchange Commission for $101 million for helping the notorious Enron inflate its cash flows and under report its debts. The same year, Citigroup settled with private litigants for $2 billion over its role in the bankruptcy of Enron.

Then there were those infamous SIV liquidity puts. In the leadup to Wall Street’s financial collapse in 2008, Citigroup had been creating Structured Investment Vehicles (SIVs) and using them to place toxic subprime debt off its balance sheet. The problem was that those SIVs promised to provide liquidity to buyers of its commercial paper if the market bulked and wouldn’t roll over the commercial paper. That meant that Citigroup, in providing those liquidity puts, had to put this toxic debt back on its own balance sheet and take massive losses. Citigroup’s stock went to 99 cents in 2009 as it was receiving the largest taxpayer bailout in U.S. history.

While all of the above had been going on, Sandy Weill, the Chairman and CEO of Citigroup, had amassed a fortune from the bank through a technique that compensation expert Graef “Bud” Crystal called the Count Dracula stock option plan. You couldn’t kill it; not even with a silver bullet. Nor could you prosecute it, because Citi’s Board of Directors had signed off on it.

The plan worked as follows: every time Weill exercised one set of stock options, he got a reload of approximately the same amount of options, regardless of how many frauds the bank had been charged with during that year.

Crystal explained in an article for Bloomberg News that between 1988 and 2002, Weill “received 96 different option grants” on an aggregate of $3 billion of stock. Crystal says “It’s a wonder that Weill had time to run the business, what with all his option grants and exercises. In the years 1996, 1997, 1998 and 2000, Weill exercised, and then received new option grants, a total of, respectively, 14, 20, 13 and 19 times.”

By the time Weill stepped down as CEO in 2003, he had received over $1 billion in compensation, the majority of it coming from his reloading stock options. (Weill remained as Chairman of Citigroup until 2006.) One day after stepping down as CEO, Citigroup’s Board of Directors allowed Weill to sell back to the corporation 5.6 million shares of his stock for $264 million. This eliminated Weill’s risk that his big share sale would drive down his own share prices as he was selling. The Board negotiated the price at $47.14 for all of Weill’s shares.
There have been some other strange things going on at Citigroup during this recent financial crisis. In July we reported that Citibank, the commercial bank owned by Citigroup, had received more than $3 billion in reimbursements from the Federal Reserve for loans that Citi had made under the Paycheck Protection Program. Those loans are guaranteed by the Small Business Administration so why would Citigroup need to be reimbursed for guaranteed loans? None of Citigroup’s peer banks – like Wells Fargo, Bank of America, JPMorgan Chase, Goldman Sachs or Morgan Stanley – took money from the Fed under this program. Just Citibank.

There are also numerous complaints online from Citibank customers that the bank is, without warning, cutting their credit limit on their credit cards. That doesn’t seem to square with the repeated representations from Federal Reserve Chairman Jay Powell that the big Wall Street banks are a “source of strength” during this economic crisis – the second one the U.S. is facing in a period of just 12 years.

Makes our banks look like angels.
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Sep 16 2020, 11:35 AM


Group: Member
Posts: 2,816

I agree he's a pretty smart bloke, unfortunately he has the ethics and morals of a member of the mafia.
The organisation he heads has similar morals and ethics.
Mick
  Forum: Investment Discussion

mullokintyre
Posted on: Sep 16 2020, 10:26 AM


Group: Member
Posts: 2,816

A most interesting take on the silver supply and demand price ratio.
From Voima gold

Every year the Silver Institute publishes silver supply and demand numbers that suggest the market is in a deficit or surplus, although there is no correlation between their “market balance” and the price of silver.
QUOTE
Investment decisions based on the Silver Institute’s supply and demand data can turn out badly.In a previous article we have discussed that gold trades more like a currency than a commodity. An approach of a gold market balance, which produces a surplus or deficit, is therefore not appropriate nor indicative of price direction. Because silver is both a monetary metal and an industrial commodity its supply and demand dynamics require special attention. My conclusion is that silver, just like gold, trades more like a currency than a commodity.

Silver Is a Currency
In ancient Sumer, roughly 5,000 years ago, silver was a unit of account, a medium of exchange for large purchases, and a store of value. Silver has been used as money in countless civilizations ever since. Because silver is durable and valuable very little gets lost. More than 90% of all silver ever mined is still above ground.

Since the 19th century silver is also being used for industrial applications. Currently, CPM Group estimates that half of all above ground silver is in industrial products, and the other half is in coins, jewelry, silverware and investment bars. The total above ground amount of silver For perishable commodities a market balance, calculated by subtracting demand from supply, is indicative of price direction. This is because annual production is far larger than above ground stocks. When wheat demand rises, wheat supply can’t be quickly expanded—as there are no vast stocks that can enter the market—and the price has to go up. The wheat market balance tells us if there is a surplus or deficit in the market that will either decrease or increase the price of wheat.For monetary metals, however, this approach is not suitable. The reason is the stock to flow ratio (STF), which is calculated by dividing above ground stocks by annual production. Silver’s STF is approximately 30. Annual silver mine production is 26,000 tonnes, and 800,000 tonnes of silver is in jewelry, coins and bars, which comprises the stock (at the right price this can enter the market as supply). For the sake of simplicity I choose not to count above ground silver that is in industrial products as stock.The above shows the difficulty for consultancy firms of presenting a market balance for what is chiefly a currency (monetary metal). My message is not that the Silver Institute’s reports are useless; they contain all sorts of valuable data. I’m just skeptical of any conclusion derived from a silver market balance—surplus or deficit. To me it makes more sense to focus on variables that also drive the price of gold—such as inflation, risk, and interest rates—to get a feel for silver sentiment.


The interesting point is that the supply of silver is huge if the price keeps going up.
At some price point, people holding silver in jewelry or investment form as ingots etc will bring it into the supply side.
The quoted supply demand figures are at best inaccurate, at worst downright misleading.
I had always simply looked at the published demand/supply figures to drive my investment.
Perhaps I have just been lucky in the past.
Mick
  Forum: Macro Factors

mullokintyre
Posted on: Sep 16 2020, 09:45 AM


Group: Member
Posts: 2,816

Hasn't had much coverage on mainsteam media, but a mate of mine sent me a link to THIS

QUOTE
A surprising ruling from US District Court finds Governor Tom Wolf’s decree that forced people to stay at home, limited the size of social gatherings and ordered all “non-life-sustaining” businesses to shut down to be in breach of the constitution.

In a rare win for the freedom in the days of “the new normal” Judge William Stickman IV sided with the plaintiffs – a collection of small business owners – against the state. And found the measures to be “overreaching and arbitrary and violated citizens’ constitutional rights”.

The state will appeal, of course, but the hope is that this ruling can set a precedent which will limit governmental over-reach and the surge of draconian powers being implemented to (allegedly) “combat the pandemic”.

Certainly, amid the wave of ominous utilitarian preaching in both the corporate and social media, Sticman’s ruling makes for refreshing reading. You can view the whole thing here, but this I will leave you with the best quote, taken from the conclusion:

Even in an emergency, the authority of the government is not unfettered. The liberties protected by the Constitution are not fair-weather freedoms – in place when times are good but able to be cast aside in times of trouble.

There is no question that this Country has faced, and will face, emergencies of every sort. But the solution to a national crisis can never be permitted to supersede the commitment to individual liberty that stands as the foundation of the American experiment.

The Constitution cannot accept the concept of a “new normal” where the basic liberties of the people can be subordinated to open-ended emergency mitigation measures. Rather, the Constitution sets certain lines that may not be crossed, even in an emergency.


I was a little wary of commenting on this, as the site where the article comes from is one of the many conspiracy sites that put out various 9/11 conspiracy theories, but the link to the complete transcript seems to agree with what the author is saying.
Have to wait for an appeal to be heard before it really gets interesting.
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Sep 15 2020, 06:59 PM


Group: Member
Posts: 2,816

We are now seeing the full politicisation of the covid virus
All of the state premiers have put limits on the number of people who can enter the state from overseas and be quarantined according to each states health rules.
Western Australian premier Mark McGowan has called on the Federal government to consider opening detention centres and defence bases to Australians returning from overseas and moving from interstate as the state’s quarantining capabilities are stretched to capacity.
This neatly transfers the costs of rules set up by the state to the Federal Govt.
he also wants the feds to use defence basis that have accomodation for the people entering WA.
And of course transfer the costs to the fed.
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Sep 15 2020, 12:26 PM


Group: Member
Posts: 2,816

Another 52 week high today.
Its getting toward sell time.
Gold in AUD hasn't really changed much, so the momentum is in the stock.
If it gets to 2.75, I will take some healthy profits and wait.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Sep 14 2020, 10:53 PM


Group: Member
Posts: 2,816

Just so y'all know what the average US punter is up against.
Somewhat similar to OZ.
FromCongressional report
QUOTE
New congressional reporting released on July 22 shows that 147 out of 435 members of the U.S. House of Representatives are lawyers. Nearly half of the U.S. Senate is likewise made of lawyers.

The vast majority of remaining seats are occupied by professionals from the “business sector.” What few positions are left to claim are typically handed to former Congressional staffers – “keeping it in the family,” so to speak. Much media attention, rightly or wrongly, is paid to the gender and racial disparities that persist in the US legislature. There are other measurable markers, though – some arguably more relevant than gender or race – that betray the total lack of representation for the average American in the government.

The report paints a comprehensive image of who sits in the seat of elected power, what worldview they likely bring to the job, and, ultimately, what corresponding legislative agenda they will transform into public policy.

Unsurprisingly, the membership of Congress poorly resembles the population of Main Street USA. The chasm between the governing and the governed seems to grow by the year.

96% of Congress has a college education. In contrast, only 34% of the total US adult population has completed higher education. The average age of a US Senator is almost 63 years — while more than half of Americans are under 39 years old.


But the most damning read is the following.

QUOTE
Most indicative of all, as documented separately from the above-referenced report, more than half of Congressional members are millionaires. They invariably leave “public service” (if they ever do) substantially wealthier than when they arrived. More than being just “well-off,” several members with tens of millions in accumulated net worth qualify as economically elite. The spoils of the federal gravy train, as evidenced in the chart above, is distributed throughout the DC swamp in bipartisan fashion.

Since the days of economic optimism in the post-World War II era, American wealth has been slowly but steadily extracted from the working class for upward transfer to the ruling elites.

Worker productivity continues to climb while wages remain stagnant. The most jarring figure on the unfolding economic meltdown comes via the Federal Reserve: 40% of Americans can’t access $400 to cover emergency expenses.

The economic circumstances for the average American, while more materially comfortable, are now virtually indistinguishable from that of a 19th-century Russian serf in this regard: he or she is tied to dead-end work by decree of the nobility with little hope of a middle-class future.

This is the economic stuff of the Third World, but the reality of mass destitution now lives right here in American neighborhoods.

Los Angeles and New York – the two most populous cities in the United States and exhibitions of some of the most extravagant wealth anywhere on the globe — now rank #2 and #4 in homelessness worldwide, respectively, right alongside Third World behemoths like Mumbai, India and Manila, Philippines.
One of the most fundamental concepts in interpersonal psychology is that people identify and empathize with others who share similar traits.

It should come as no surprise, then, that Congress does not prioritize the well-being of the average American – they share no perceived common interests. A 2014 scientific, systematic survey of American political institutions by academics at Princeton University found that the US now functions as an inversion of democracy wherein public opinion matters not at all while the elite dictate policy.

Specifically, the researchers said:

“Multivariate analysis indicates that economic elites and organised groups representing business interests have substantial independent impacts on US government policy, while average citizens and mass-based interest groups have little or no independent influence.”

Essentially, it is now a matter of settled social science that, in America in 2020, the unelected and widely despised likes of George Soros, Jeff Bezos, and Bill Gates write US law. Average Americans now rely on the non-existent benevolence and wisdom of unelected, sociopathic oligarchs for economic provision. It’s a recipe for disaster.
In an age where non-partisan, populist libertarianism is needed more than ever, such leaders rarely emerge out of the ranks of the attorney and business classes. Insincere opponents of “class warfare” will surely disagree, but true representation is impossible without representatives on the same rung of the socioeconomic ladder as their constituents.

The majority of members of Congress are millionaires; everyone they play golf with is a millionaire; they all take money from billionaires each election cycle as a matter of political survival.

While the American economy decays from coast to coast, the DC suburbs are thriving like never before. Per capita, 9 out of the 20 wealthiest counties in the US are now located there. The swamp is a gold mine for the creatures that populate it.

One need not object to the concept of becoming a financially secure millionaire to object to the increasing concentration of wealth at the very top of society – driven in large part by the legislative and enforcement agendas set forth by the lawyer-centric roster of nationally elected leadership. The gutting of democratic institutions did not happen overnight. Lawyers working on behalf of the ruling class incrementally hijacked the entire campaign financing system to give a permanent electoral advantage to the candidates that collect the most bribes from their corporate sponsors.

90% of the time, the Congressional candidates with more campaign cash win. 93% of House of Representatives incumbents return to power in the next election cycle. They often serve decades in power, accumulating riches and personal celebrity for themselves as compensation for orchestrating the systematic transfer of wealth to the top of the pyramid.

They do it through sweetheart tax deals for huge corporations, private-public business “partnerships,” military adventurism, union busting, and myriad other scams to transfer ever-greater concentrations of wealth into the hands of a tiny governing elite.


Loved that bit about 9 of the 20 wealthiest counties are in Washington D.C. A tiny area of 170 sq kilometres that makes it less than the size of Melbourne.
As I have said before, the BLM heroes have got all wrong, it be PLM - poor Lives Matter, cos thats the real problem.

Mick


  Forum: Off Topic Chat

mullokintyre
Posted on: Sep 14 2020, 10:41 PM


Group: Member
Posts: 2,816

Can't answer that for you mate
You woukd need to talk to Canadian authorities.
Not sure if it will help you though, unless the entity has a presence in OZ, and is registered with ASIC etc etc.
Good luck with that!
Mick
  Forum: Investment Discussion

mullokintyre
Posted on: Sep 14 2020, 06:12 PM


Group: Member
Posts: 2,816

Not sure if thats possible under current laws.
I believe that the entity to which you want to transfer the shares must be registered in OZ.
Australian shares traded on other platforms external to OZ usually use some form of ADR. (Australin Deposit rRceipts).
It will very much depend on the entity where you wish to trade them to.
The ATO might want to have a say , just in case they deem this to be a capital gains triggering event.
And speaking from experience, NABTRADE will do everything in its power (and then some) to make it difficult.
Mick
  Forum: Investment Discussion

mullokintyre
Posted on: Sep 14 2020, 03:30 PM


Group: Member
Posts: 2,816

QUOTE
And betting against a central bank is crazy.....


Yeah, difficult to get a counterparty with the CB's.
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Sep 14 2020, 09:40 AM


Group: Member
Posts: 2,816

I sense that Victoria is becoming severely polarised, particularly along the City versus regional fracture line.
In the recent short parliamentary sitting, the 3 animal party reps voted with the govt to remew the premiers ability to declare a state of emergency for up to six months.
In these days of quid pro quo, I guess it is no surprise that pet salons are now allowed to open, however, you still can't get dental surgery.
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Sep 14 2020, 09:11 AM


Group: Member
Posts: 2,816

Normal service returned.
After an excellent bowling and fielding display to keep the poms to 231, Aus batsmen implded.
After being 2-144, managed to lose 8 for 63 in a rather dramatic collapse.
Maxi1, marsh 1, at least Carey got to 36.
Finch kept it going to 73, but not uch support.
Poor display by OZ.
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Sep 13 2020, 07:16 PM


Group: Member
Posts: 2,816

Correction, the head being kneeled upon by the police probably does not belong to a non white person, the persons face was turned away from the camera, I was viewing the back of the head.
Chastened Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Sep 13 2020, 03:03 PM


Group: Member
Posts: 2,816

In the report below from the ABC web site, there is an embedded video of somebody being arrested by the police at a demonstration in Melbourne against the lockown.
Towards the end of the video, there is a closeup of the person being arrested facedown with about five vicpol boys on him, one of which has his knee on the head of the arrestee.
When you look at the face, it looks suspiciously like a person who is deffinitely not a priveleged white male, but rather an unknown class of male who happens to look suspiciously like a black person.
Can't see this one ending well.
Kneel on me


Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Sep 13 2020, 09:56 AM


Group: Member
Posts: 2,816

And on the other side, there are a few cracks appearing in the Nikola fortress.
From Zero hedge

QUOTE
For example, we have been reporting on the unfolding battle between Nikola and short seller Hindenburg Research who, last week published a scathing (nearly 100 page) report calling the company an "intricate fraud" and comparing it to Theranos.

Nikola shares fell almost 25% over the last two trading days of the week last week after founder Trevor Milton failed to reassure the market about Hindenburg's claims of fake product launches and potentially deceiving both investors - and General Motors - that followed similar reporting from Bloomberg weeks ago. Naturally, Milton has been in damage control mode since Thursday when the report was released, but instead of refuting the claims has been repeatedly attacking the messenger(s), lashing out in profanity-laden tirades on his Instagram account (see here) and promising substantial responses via Twitter which have yet to come. On Friday morning the company "responded" likely by heeding the advice of its counsel and putting out a perfunctory 5 paragraph press release despite a prior promise of a detailed debunking.

But Milton has remained active on Twitter and, in a series of Tweets last night discussing the whereabouts of the clean energy guru's own gassed up private plane (which is being actively watched by some Twitter accounts), Milton comments: "Those are employees heading to Germany for the Nikola Tre trucks.. You know, the that were not suppose to exist according to the hit job. Lol. I'm in utah / Arizona for the weekend."

This midnight scramble could be a planned response to Hindenburg pointing out that Nikola's founder had claimed the trucks were already coming off the assembly line months ago. "We have five of them coming off the assembly line right now in Ulm Germany," Milton said on a podcast back in July 2020.

Nikola President Mark Russell also said on August 4 that the Nikola Tre trucks were “coming off the end of the facility at this
point.”But Hindenburg called the company's partner, Bosch, who reportedly told them: "No they are not ready yet. I don’t know exactly the year but we’re working on it."

Perhaps in an effort to debunk Bosch's comments, Milton apparently thought it wise to post pictures of what appear to be uncompleted Nikola Tre trucks still being built in a work area that looks nothing like an assembly line.
Regardless of the answers to these questions, Milton has also failed to simply outright deny some of the boldest claims in the Hindenburg report, including the claim that the company's Nikola One Semi Truck demonstration video was a non-working semi truck that was simply pushed down a hill in the desert.

In fact, when FT followed up with Nikola President Russell, he offered a resounding "no comment":

Perhaps it was all marketing hype after all.
Who woulda thunk it!

Mick
  Forum: Investment Discussion

mullokintyre
Posted on: Sep 12 2020, 06:00 PM


Group: Member
Posts: 2,816

Puts a new meaning on the term progressive dinners.
Does anyone else remember these fund raisers from the 1960's and 970's and possibly even early 80's?
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Sep 12 2020, 05:58 PM


Group: Member
Posts: 2,816

So, what did you learn from this?
Mick knows SFA about cricket.
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Sep 12 2020, 01:05 PM


Group: Member
Posts: 2,816

So they caved in.
A totally unneccessary exercise that aciheved nothing, other than make themselves look like complete fools?
For the life of me I cannot see what my fellow regional cits see in these bunch of dorks.
This electorate at state level was forever a long standing NP fortress, but now thanks to the ineptitude of the NP Power Brokers, and a desire for some changes, we now have a reasonably capable female Independant member.
Federally, we were represented by an NP giant,, Black Jack Mcewan.
Protectionists for the landed gentry he was, but thats what the NP consitituents wanted.
Locally, we were represented for many years by another NP giant, Peter Ross Edwards.
Currently, DamienDrum is our local NP rep at federal level..
Nice enough sort of bloke, but is just a numbers man who goes with the flow.
Not sure if he has ever had an original thought of his own in his life.
The NP should get out of the coalition, they just don't have enough in common with the mostly city reps, nor in many respects, their electors.
Mick

  Forum: Off Topic Chat

mullokintyre
Posted on: Sep 12 2020, 11:11 AM


Group: Member
Posts: 2,816

The COVID virus has change dmany aspects life, some permanently.
One of my kids works in his cousin a pub on the coast, outside of Melbourne, but still under the stage 3 lockdown regs.
Was talking to them both this week about how things were going.
Cousin has had to put his house buying plans on hold cos the banks are just not lending money at the moment, particularly when his income is erratic at best at the moment.
They were talking about what they expect to happen as the Vic eventually get out of lockdown, and how the hospitality ndustry will be a very different beast to what it was.
One of the interesting things they were talking about is the idea of virtual restaurants.
The nephew has been in the pub game for over twenty years, and has lots of contacts in the industry.
It seems that some in the inner Melbourne area have become a virtual restaurant, where a number of establishments have got together under a banner name that has an online menu.
All items are delivered to at home customers.
The members concentrate on just a few dishes each, but to the user, its a wide ranging menu ,all of high quality.
There are a number of advantages to this model.
It makes it easier for preparation as each restaurant as they can prepare in bulk, with less food wastage.
Their staff are concentrated on food prep and cooking, rather than having an army of waiting and table cleaning staff.
They have a smaller cleaning time, as there are no plates cuttlery etc to clean.
There is also less cleaning staff (bad luck for those wanting a career as a dish pig, one of my many jobs at Uni).
They don't have to have a till to balance, its all online etf.
Eventually, these virtual kitchens will be startups where the plan is to have no dining in facilities at all.
Makes the cost of the establishment significantly less= no fancy surroundings, expensive fittings, having to update the decor as fads change etc.
All the expenses are in high tech kitchens, where cleanliness is paramount rather than looks.
And he said when all the regs are finished, will people go back to the old model.
He asked me if we had a choice of going out to an expensive restaruant , getting dressed up, having to have one member be the designated driver etc over having high quality food delivered to your door while you are already onto your second G & T and dressed in your Pj's, what would you opt for??
Don't know about the PJ's bit, but the rest sounds ok to me.
And almost right on cue, I read an article about the very same thing in the News this morning.
From ABC News comes a story about this very idea.
Although they refer to the setup as dark kitchen, it is essentially the same idea of having a delivery only model where to all intents and purposes you are dealing with a variety of rstaurants, but in essence it is coming from the same place.
The times they are changing , as Bob said once.
Mick


Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Sep 12 2020, 10:35 AM


Group: Member
Posts: 2,816

Something I personally think is an important topic.

https://www.youtube.com/watch?v=v2Y6xFOPPW0

Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Sep 12 2020, 10:00 AM


Group: Member
Posts: 2,816

One of my favourite foods, especially if coated in white chocolate.
Send me more!
Mick
  Forum: Investment Discussion

mullokintyre
Posted on: Sep 11 2020, 02:18 PM


Group: Member
Posts: 2,816

From todays OZ

QUOTE
Forget the polls — this obituary concisely captures the current mood of Melbourne.

It was written by the grieving family of Peter Mitchell AM (8/3/1935 – 7/9/2020) to inform friends of the 85-year-old’s passing.

“Husband of Jocelyn, father of Julian, Steve and Cassie, grandfather of Tash, Lawless, Jumbo Jim, Rocky, Jeannie, Lisey and Fredster.

“An exceptional man with an exceptional mind, wit and heart.

“Died in his sleep at home. Memorial service to be held when the dictator is overthrown.”


Obviously not a fan of Dan.
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Sep 11 2020, 01:40 PM


Group: Member
Posts: 2,816

Not sure where to put this whinge, but I guess its a comparison between the efficiency of different markets.
On September 1st, I ordered some Oil Filters from an Aviation supplier at Brisbane Airport.
It was despatched same day by them , but according to the tracking info, it says it will be here in Central Victoria between 13th and the 18th of September.
Last week, on Friday 4th of September I ordered two lots of parts from the US.
One from Oregon, one from Kansas.
They both arrived on Wednesday 9th of September.
How is it that i can get stuff from the US within a week, but it takes two to three weeks from Brisbane?
Mick (scratching his head).
  Forum: Investment Discussion

mullokintyre
Posted on: Sep 11 2020, 09:50 AM


Group: Member
Posts: 2,816

Your hopes may be realised triage.
Some good gold drilling results from tenements near penyy west.
Expect a bit of a boost to VMC today.
It needs it, low volume, lack of interest in recent times.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Sep 10 2020, 10:46 PM


Group: Member
Posts: 2,816

From Chuck butlers daily pfennig

QUOTE
Well, the CBO (Congressional Budget Office) the guys that count the beans, said yesterday that through the 11th month of the fiscal year (August) the Federal Deficit was $3 Trillion, with another month to go…. For those of you new to class, the U.S. budget year is September to September…. That number of $3 Trillion is $1.9 Trillion more than the same period last year, and more than double the largest yearlong deficit on record, according to the CBO, who then went on to give excuses for the size of the deficit was due mainly to the costs associated with the COVID-19 virus spending…. Well, that may be some of the deficit but not all of it…. Before April began our Budget Deficit was already $743 Billion for 6 months of the budget year…. That would have been annualized to 1.486 Trillion… Still an unsightly number if you ask me! But that information was not supplied by the CBO, they simply wanted to place all the blame on the virus spending…. Which I also saw yesterday a blurb about more virus spending soon to be up for a vote… They might want to wait until Rocktober when the new budget starts…


Thats not a deficit, THIS is a deficit!
Mick
  Forum: Investment Discussion

mullokintyre
Posted on: Sep 10 2020, 04:56 PM


Group: Member
Posts: 2,816

Some very interesting happenings on the political front.
Three QLD ministers have announced their retirements from pasrliamet this week.
Only one of them is in a marginal seat, so one might argue that its not a case of rats deserting a sinking ship.
But perhaps they don't fancy the opposition benches.
But with the sort of semi departure of Jackie Trad, it is hardly a good look for the QLD Government.
Then in NSW, the load mouthed egotistical fool John Barrilaro has pulled his 11 nats out of the coaltion.
Once again, not a good look for the NSW government.
I am betting that that by March 2022, we will have new parties in charge in Queensland, NSW, Victoria and Tasmania.
So its two Coalition govts and two Labour govts swapping.
Neither the WA or SA govts have done enough to warrant their outing.
NT have only just had an election, so it will take a little longer to see how they fare.
ACT have only had 3 liberal Chief ministers since irs inception in 1989, and I can't see that changing any time soon.
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Sep 10 2020, 10:15 AM


Group: Member
Posts: 2,816

Interesting post by Robert Gotliebson in todays OZ

QUOTE
Australia must brace itself for the next round of the war of words and actions with China – an attack on the price of iron ore and the nation’s key revenue base.

My China contacts tell me that the anger China is currently displaying over issues like Australia’s call for a COVID-19 inquiry and journalistic disputes is minuscule compared to the fury in China created by the recent jump in the price of iron ore.

Rightly or wrongly, Chinese President Xi Jinping believes that Australia has ruthlessly exploited the COVID-19 pandemic to force China to pay exorbitant prices for iron ore. Xi is determined to teach us a lesson as early as next year, but certainly in the years to come.

Australia has undertaken a massive domestic expenditure program to reduce the economic impact of the pandemic and has been able to fund at least part of that expenditure by the massive tax revenue that is being generated by the high price of iron ore.
If China succeeds in slashing the price of iron ore next year and in the following years, Australia will feel great pain. But so will the shareholders in BHP, Rio Tinto and Fortescue, who have been basking in higher profits and dividends in the wake of the higher iron ore price.

Of course if China is successful in slashing the iron price it will, almost certainly, reduce the value of the Australian dollar which will cushion some of the impact of the lower mining profits when converted to the Australian currency.
‘Australian extortion’

The Chinese belief that the current iron ore price is simply Australian extortion imposed on China is partly frustration over a series of events that coincided to send the price higher than anyone could have expected.

Earlier this year in the midst the early stages of the pandemic, iron ore fell to around $US80 a tonne. At that level, the local Chinese production incurs losses, so production was curtailed.

China was able to contain the effects of COVID-19 more effectively than any other developed nation and to restart its economy it embarked on a major program of infrastructure and property investment, so increasing the demand for steel and iron ore.

China’s second largest supplier, Brazil, could not respond to the higher demand because its main producer, Vale, became a victim of COVID-19 infection.

In contrast, Australian iron ore mines did not become infected with COVID-19 and lifted output marginally.
The combination of increased demand and restricted output by local Chinese producers, as well as Vale, set the scene for the big price rise to around the $US125-130 mark — the highest since 2014 and the largest rise of the major commodities.

To slash the price China is looking to increase local production, which is profitable at prices above dollars $US90 a tonne. And it expects that next year Vale will be able to produce greater tonnages.

At the same time, this latest Chinese round of capital investment is similar to what happened at the end of the Japanese capital investment boom: new capital expenditure was of marginal value and often totally useless. Accordingly, the Chinese expect to decrease their capital spending next year and look to consumers to fill the gap. At the same time, it is likely that exports to the US will decline further in 2021 – particularly if Donald Trump wins a second term.

Teaching us a lesson

Then, in China’s view, Australia will be taught a lesson about not exploiting a pandemic against your main trading partner. But in Australian, eyes we are simply benefiting from a market price increase just as we suffer from market a falls. There is no extortion.

But China will take its plan to lessen dependence on Australian iron ore to a second stage and is encouraging Brazil to open up new mines and new deep water ports to enable the Chinese supercarriers to take Brazilian ore to China at costs that are comparable or lower than to transport from Australia, where smaller ships are used.China hopes that this will further lower the iron ore price and decrease Australia’s role in the trade. Further down the track China, with the help of London-based Rio Tinto, hopes to open the massive Simandou iron ore mines in Guinea.

I suspect the full force of the lesson China plans to teach Australia will be felt by BHP. The Big Australian played a large role in converting iron ore contracts from fixed price to market price around a decade ago and the largest shareholder in Rio Tinto – BHP’s major iron ore rival – is a Chinese state owned enterprise, Chinalco. It will be fascinating to see the reaction of Chinalco in the Indigenous caves issue that is putting the job of Rio CEO Jean-Sébastien Jacques under pressure from Australian institutions.

China believes that the Australian currency is vulnerable to a big fall in the iron ore price, given its huge deficits and dependence on borrowing. And so a collapse in the iron ore price will inflict significant punishment on the recalcitrant nation down under.

Not sure how much I believe in terms of what China thinks, but I guess we will know soon enough if shipments from WA strt to drop off.
The Macgowan govt then will be looking a little red faced as its major source of revenue starts to drop off, just when it will be going deeper into debt.
The Feds will be in a similar boat, though they are less dependant on iron ore, but have a lot of competing interests for the fed handouts.
Could be interesting.
Mick
  Forum: Macro Factors

mullokintyre
Posted on: Sep 10 2020, 09:47 AM


Group: Member
Posts: 2,816

While I am picking on Dan the Man and his rubbery attitude towards the truth.
There is always a much lower figure of positive results on a Monday and Tuesday.
This is not surprising as there is always a lower level of testing on the weekends.'
Twice now now Dan has blamed the weather or some other logistical reason.
The real reason is because the private clinics and GP's don't provide anywhere near the level of testing on weekends.

NSW Health provides daily stats in their weekly reports which are much larger than those supplied by Vichealth.
On page 6 of the Following Report even has a graph of numbers of tests on weekdays versus weekends with an explanation.
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Sep 9 2020, 09:44 PM


Group: Member
Posts: 2,816

Another day, another lie from Dan the man.
From The OZ

QUOTE
Victorian Premier Daniel And­rews’s claim that “one or two” coronavirus-positive people “on any given day” have refused to be interviewed by contact tracers has been shown to be false, after his health department released data showing no one has refused an interview in the past month.

Mr Andrews made the claim on Sunday, while under pressure to explain contact tracing failures, and repeated similar claims on Monday and Tuesday.

“Let me explain to you why there might be 5 or 6 or 7 per cent of people who we can’t get to in 24 hours,” the Premier said on Sunday, with reference to Depart­ment of Health and Human Services interviews with coronavirus-positive people and their close contacts.

“On any given day there are one or two people who will not consent to being interviewed,” he said, suggesting there may be some among Sunday’s 63 cases.

“There will be one or two: ‘I don’t want to be interviewed.’ There will be one or two or three who cannot be found, despite ringing as many times as we can, despite doorknocking, and that’s happening to every single close contact and every single positive case — we won’t be able to find them at home, or contact them, speak to them, within that 24-hour period.”

Asked how many people had refused to be interviewed and what could be done, Mr Andrews said: “Well I don’t know that there is much action we can take against someone … But I don’t use the example to be blaming those one or two people.”

On Tuesday, the Premier reiterated­: “There will from time to time be people who are not willing to be part of that (interview) process.”

In response to written questions submitted earlier this week regarding the numbers of corona­virus-positive people who had refused to be interviewed, a DHHS spokeswoman revealed: “No cases have been recorded as consistently refusing an interview since August 7.”

“Between 7 July and 7 August public health database reports there were 27 cases recorded as consistently refusing interview,’’ the spokeswoman confirmed.

“None are now considered as active­ cases. Ten of these cases were young people under the age of 18 … These are cases which consistently refuse to be interviewed and never complete an interview. Some cases may refuse on the first attempt and would be recorded as not interviewed against our 24-hour target­ but accept on a second or third attempt.’’

The news comes after the Premier claimed on August 4 that in 800 of 3000 cases when Australian Defence Force and DHHS staff conducted random contact tracing doorknocks, “the person who should have been isolating could not be found”.

So, onve again, Dan the Man has shown to be a little lax with the truth.
Big deal, hes a politician, they were born lying.
But what gets me is this crap about people refusing to be interviwed.
How is it that the Police can arrest someone for putting some anti govt protest material on FB, but they can't force someone to be interviewed?
We are told the whole point of the "State of Emergency" was to be able to overide normal rights.
Absolute bullshit.
Mick

  Forum: Off Topic Chat

mullokintyre
Posted on: Sep 9 2020, 10:00 AM


Group: Member
Posts: 2,816

Teslas big fall on top of the last two days fall might be because of the realisation by pundits that Teslas path to glory may be getting a few hurdles placed in its way.
Nikola and its electric truck are well ahead of the tesla version, in that you can actually order and receive a Nikola truck.
Their mix of pure electric and hydrogen fuel cell powered vehicles while not as big as the retail passenger side of Tesla, has made big inroads into the commercial fleet.
They have recently had an order fro 2500 electric waste collection trucks for republic services, with the option to go to 5,000 trucks.
They have now done a deal with GM to sub contract build its trucks. FromBusiness Insider
QUOTE
But on Tuesday, Nikola revealed it formed a partnership with General Motors. The biggest US automaker by sales said it would act as a contract manufacturer for the Nikola Badger pickup and contribute fuel-cell powertrain technology to Nikola’s heavy-freight truck. GM also took a $US2 billion equity stake in Nikola, echoing investments it has made in the self-driving startup Cruise and the ride-hailing company Lyft.

GM will build the Badger using a new EV platform and its Ultium battery technology, which it revealed at the beginning of 2020. (GM didn’t offer details on the plant that will get the vehicle, but production is slated for late 2022.)

“Avoiding building a factory saved us billions,” Nikola founder Trevor Milton said on a conference call with the media after the news was announced. “That was a big fear of ours. But now bam, we’re in production.”

They are also setting up a large hydrogen distribution network.
One of the advantages of the fuel cell is that the powertrain systems are exactly the same as a pure EV, but the Electricty is provided by a hydrogen burning fuel cell rather than batteries.
It takes a few minutes to refill the hydrogen cells versus a few hours at the EV pump.
Should be interesting in the future.
Look out or the the techos developing small standalone hydrogen production units.
One thing I take issue with in some of the sales pitch is the talk about zero emissions.
While Hydrogen is not one of the dreaded fossil fuels, when it "burns" and combines with oxygen to produce the power, the output is water, which given the temps being used, will likely be in the form of a gas, water vapour. Water vapour is a far more potent greenhouse gas than Co2.
Just sayin.
Mick
  Forum: Investment Discussion

mullokintyre
Posted on: Sep 9 2020, 09:13 AM


Group: Member
Posts: 2,816

Maxi can at least bowl. Took more wickets ad at a lower average than Starc.
Smith ad Carey did not exactly set the world on fire.
Stoinis averaged better than these two, but almost singlehandedly lost game one when it was there for the taking.
M Marsh comes i for one game and "stars".
Be like Maxi , from now on and do nothing till he is dropped again.
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Sep 8 2020, 03:01 PM


Group: Member
Posts: 2,816

From The OZ


QUOTE
CTU secretary Sally McManus has backed the Andrews Government’s lockdown strategy, predicting more people would die and COVID-19 cases would spread interstate if Victoria did not get infections under control.

Ms McManus said “so many countries have made serious mistakes in how they reopened after lockdown”.

“The careful staged opening in Victoria is different, aiming to keep infections within what can be suppressed with testing & contact tracking,” she said on social media.

Ms McManus said if Victoria did not get infections under control then “lots of people will die”,

“chances are it will spread interstate”, and the economy would be more seriously damaged.

“Victorians are making big sacrifices to keep everyone safe,” she tweeted. “This is the 1st thing leaders should acknowledge.”

Ms Mcmanus may very well be extremely knowledgeable on Unions and Industrial matters, but I am betting she knows SFA about whether the Vic government response was adequate or not.
Her opinions are about as useful as that of any other non medical person.
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Sep 8 2020, 02:55 PM


Group: Member
Posts: 2,816

Up 14% today on above avergae volume.
Perhaps rumours of the drill tenement results are getting out, or maybe people just getting set for the announcement.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Sep 8 2020, 10:29 AM


Group: Member
Posts: 2,816

DCN struggling for traction.
Buyers have deserted it.
Maintaining my disciplined approach and waiting for sub 30.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Sep 8 2020, 10:26 AM


Group: Member
Posts: 2,816

Fell today after going ex div.
Fancy having a share with dividends this year!
Divvvy was 0.034 cents, fell 06 cents, so I bought some more.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Sep 7 2020, 11:56 AM


Group: Member
Posts: 2,816

With the deadline fast approaching, and neither side giving ground, it would appear that the no deal brexit will the final end play of britain leaving the EU.
This Will I think, be a distinct advantage to OZ traders.
Tony Abbott is going to be very busy working on trade deals with other countries, including OZ.
Lets hope they get something in place quickly that is advantageous to both countries.
Mick
  Forum: Investment Discussion

mullokintyre
Posted on: Sep 7 2020, 11:43 AM


Group: Member
Posts: 2,816

QUOTE
Suprisingly, Andrew Wakefield is the reputed boyfriend of none other than Elle Mcpherson.

Well the bloke has good taste in women at least.
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Sep 7 2020, 10:28 AM


Group: Member
Posts: 2,816

RMS on a big run again today.
Approaching the all time highs set back in May.
Not sure why the sudden surge, my other goldies up or down very slightly, so whatever it may be, it is likely something unique to RMS.
Sit back and wait time.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Sep 5 2020, 07:38 PM


Group: Member
Posts: 2,816

This design looks suspiciously like the Learfan, designed by the Legendary Bill Lear of Learjet fame, unfortunately he died before it went into production.
It was also going to revolutionise air travel, but I doubt too many people have even heard of it, much less know any of its performance figures.
One of the problems is that so much of what has been written is just sales talk.
As ana example, they suggest that the design has a 59% reduction in drag. But compared to what? A Tiger moth? A Brick?
And even if this reduction in drag was comparable to say an Airbus A320, the claim that there is a 5 -7 times reduction in fuel consumption just doesn't equate.
The 12 cylinder diesel is also a bit of a worry.
Diesel engines, because of their high compression, need to be extremely strong , which rather negates the use of lightweight alloys.
TDM, Thielart and a few others have been trying to develop diesel engines with largely uneconomic results.
It may well revolutionise air travel, unfortunately history and the odds are running strongly against it.
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Sep 5 2020, 10:10 AM


Group: Member
Posts: 2,816

As much as everybody hates Trump, the Dems Joe Biden is not really helping their cause.
In an interview with Ed O'keefe from CBS, Biden managed to read the words "End of Quote" from a teleprompter.
This highlights two things:
1. That the series of questions had already been telegraphed to the Joe Biden camp so they could prepare answers , even up to the point of being able to quotations in the answer. A full Ron Brfundy moment (can we bring Ron Back onto the little screen??).
2.The bloke's brain is so slow he couldn't distinguish from what he was supposed to read versus what were non verbal hints. My 89 year old father reckons half the residents in his retirement home have more cognitive ability than Joe.
The day prior to this, he read the words "Topline mesaage" from another teleprompter in a CBS interview.
Obviously they need to put the teleprompter message hints in a different colour and font to the actual message he has to deliver.
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Sep 5 2020, 09:49 AM


Group: Member
Posts: 2,816

Tesla fell back a little over 10% to below 400 overnight.
It might be because of the announcement last night from S& P global (who manage the members of the S7P index) of the rebalancing of companies into the DOW.
The anoouncement Full doc here, was surprising more for its omissions than its inclusions.
One of those not included, was TESLA, despite almost every expert expecting it to do so.
Mick
  Forum: Investment Discussion

mullokintyre
Posted on: Sep 4 2020, 10:58 PM


Group: Member
Posts: 2,816

Another salvo in the undeclared US/Sino war.
From Zero hedge
QUOTE
Ever since the early stages of the US-China trade/tech/virus/cold war four years ago, there were frequent rumors - which eventually gave way to increasingly legitimate chatter - that China was looking to go full "nuclear option" by selling some or all of its $1+ trillion of US Treasury securities, which incidentally has not been too far off the mark: as the chart below shows, after peaking in 2013, Chinese holdings of US debt have been steadily declining (and not so steadily in the aftermath of the Chinese devaluation), and are currently near the lowest level in 8 years.
In any case, while Beijing has been gradually reducing its Treasury holdings it has never shocked the market with a major liquidation; and yet this ultimate threat has now found its way into China's premier state-run English language news source Global Times.

And while not official policy, the fact that GT on Thursday has made a US Treasury dump front page news, citing top "state-linked experts", is cause for concern (and certainly suggests that the Fed may soon have to step in with another massive QE to purchase whatever China has to sell).
he Beijing-backed publication writes today that "China may gradually reduce its holdings of US Treasury bonds to about $800 billion from the current level of more than $1 trillion, as the ballooning US federal deficit increases default risks and the Trump administration continues its blistering attack on China" citing unnamed experts.

The facts are familiar to anyone who has been following the Sino-US trade war amid the US descent into fiscal hell, which as we noted earlier this week will result in the US budget deficit hitting a record $3.3 trillion and a record 107% debt/GDP in just 2-3 years: as the Global Times reviews, in the first six months of this year alone the world's second-largest holder of US debts dumped some $106 billion worth of US Treasury bonds (annualized), and is looking to continue trimming its holdings "systematically" - the publication states.

A key reason stated for the liquidation is that China is anxious over risks associated with the surging debt level in the US, which is expected to actually exceed the size of the economy in 2021, which would be a first since the end of World War II. What's worse is that as the CBO has shown, what happens over the next 3 decades is even more insane.

I don't know why they would stop at a mere $800 billion, why not just sell the lot while they can get something useful for it.
  Forum: Investment Discussion

mullokintyre
Posted on: Sep 4 2020, 04:45 PM


Group: Member
Posts: 2,816

And it just keeps on getting better.

From The OZ
QUOTE
Queensland Premier Annastacia Palaszczuk has declared the AFL should send home any footballers breaching COVID-19 rules immediately.

Her stance follows a fight involving two Tigers outside a Gold Coast strip club about 3.30am on Friday morning.

Sydney Stack and Callum Coleman-Jones, whose fight was caught on security footage, had just ordered kebabs when the incident occurred.

The footage shows Stack and Coleman-Jones ordering two kebabs at Kebab Zone, near the Hollywood Showgirls strip club in Surfers Paradise, at around 3.20am before the fight erupted.

Stack had paid for the food before the two players went to a bench on the footpath outside, where there was an exchange with another man who appeared to strike the first blow.


Once again, so many unanswered questions.
!. Why the hell are strip clubs allowed to be open?
2.What were two AFL footballers doing in one.
3. What were they doing out at 3.00 a.m. anyway, no matter where they were.
4.When are these overpaid, overtestosteroned, over ego'd sports dorks going to realise that they are not really all that special.

Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Sep 4 2020, 02:22 PM


Group: Member
Posts: 2,816

Defending the undefensible.

QUOTE
iVctoria police assocition secretary Wayne Gatt has weighed in on the controversial arrest of a pregnant woman in Ballarat, defending the officers’ actions and calling on the public to show them “sympathy”.

Speaking on the Today show, Mr Gatt defended the police officers who went viral online after a video of them arresting a pregnant mother in front of her kids was posted to social media.

Zoe-Lee Buhler, 28, was arrested for incitement over a Facebook post that allegedly encouraged a prohibited gathering in Ballarat on Saturday.

Victoria Police has faced backlash across the country and even internationally over the video, which has been viewed more than 7.5 million times online.You wouldn’t believe the amount of things that come out of the blue with search warrants,” Mr Gatt said on Friday morning.

“They have to take reasonable precautions, but I’ll say this, those handcuffs were off nearly as soon as they were on that person in custody, once that scene had been secured.

“They have then made phone calls to the hospital to make a fresh appointment for that person so she could have her ultrasound, allowed her time to get dressed. They really did treat this person with dignity and respect and acted very professionally.”

Police association secretary Wayne Gatt says officers deserve more sympathy as they deal with the state’s COVID-19 crisis fallout. Picture: David Crosling/NCA NewsWire
Mr Gatt said police were copping unfair backlash.

“We have to have a little bit of sympathy for the police in this, they are not making up the rules, these aren’t their rules or restrictions, but they have got a job to do,” he said.

“They don’t choose to do that, they would much prefer to be doing other things right now as we stand here.

“They are on checkpoints, doing quarantine checks. They would much rather be out there lowering the road toll, helping victims of domestic violence for example.”

Mr Gatt went on to say he was worried about Victorian police officers.

“I’m very worried about them. On any given day I’ve got members in quarantine in hospitals, they are not getting to hug and kiss their kids at night-time or tuck them in, they have been away from their families,” he said.

“I’ve had members who have missed the birth of their children because they have been in quarantine because they have been out there helping the community. They are on the front line with the doctors, nurses, ambos and other emergency services workers trying to help us all get through this.”


I don't know where to start!.
The fact that the police find all sorts of things when doing a search warrant is completely immaterial.
There should never have been a need for a search warrant as there was no need for an arrest.
As fo the members missing out on Birth of children, hugging their kids etc, at least the members are still getting paid!
There are lots of people missing out on the birth of children and grandchildren etc who are not being well paid, indeed some are not being paid at all!
As usual, the response fails to deal with the fundamental issue here.
That is the capricious and unequal treatment of citizens under the law.
Unless Melbourne has been drastically changed geographically, Ballarat is under stage 3 restrictions, and as such is under exactly the same regs that existed when the BLM protests took place.
The fact that BLM protesters and organisers were treated differently is the fundamental problem.
It does not matter whether you agree with the premise of each protest, it makes no difference.
And the biggest joke is that the man who defended the police actions, commissioner Cornelius, is the very same man who was made to look like a complete fool or liar by the royal commission into the Gobbo affair.
The senior sargeant who signed the search warrant, was someone who at the same RC admitted to having "intimate relations" with Ms Gobbo .
Why are these two clowns still even in the force??
Pig, lipstick etc etc.
  Forum: Off Topic Chat

mullokintyre
Posted on: Sep 3 2020, 08:24 PM


Group: Member
Posts: 2,816

Sorry H, according to my daughter, hippocracy is when all the politicians in your various levels of government are all hippos.
Does that sort of make it ok ??
I promise it will not happen again, maybe.

Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Sep 3 2020, 06:37 PM


Group: Member
Posts: 2,816

Just heard this little gem

"Twitter - the place where people who write books argue with people who don't read them."

Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Sep 3 2020, 09:21 AM


Group: Member
Posts: 2,816

In another nail in the coffin of the US financial system, the SEC has given the go ahead for the biggest bunch of financial thieves and liars on the planet to open their own stock exchange.
From Wall Street on Parade
QUOTE
Members Exchange (MEMX), a brand new stock exchange, has announced that it will begin live trading of select stocks for the first time on September 21 with a full phase-in on September 29.

Criminal histories are, apparently, no barrier to running a stock exchange in the United States to the deeply conflicted way of thinking of the Securities and Exchange Commission (SEC), which issued its approval to operate the exchange on May 5.

Investors in the new stock exchange are some of the most serially-charged Wall Street banks, including JPMorgan, Goldman Sachs, and UBS, along with the hedge fund, Citadel Securities. BlackRock, which is up to its neck in the Federal Reserve’s deeply conflicted bailout programs, is also an investor, as is the high-frequency trading firm, Virtu Financial, and others.


Should make it much easier for them to manipulate the market to their own ends.
Sheesh, the rich get richer, screw the rest,
Mick
  Forum: Investment Discussion

mullokintyre
Posted on: Sep 2 2020, 11:16 PM


Group: Member
Posts: 2,816

The polls seem to be showing a resurgence for Trump, though given how wrong the polls have been in the past, one can't put too much weight on their accuracy.
There is also the fact that the polls are usually done ona National basis, but there is really no national poll.
There are 51 separate polls, one for each of the states plus the DC.
So really, you need to look at polls in each state.
Like in OZ, most voters are rusted on to one party or the other, its the swinging voters aqnd swinging states that make or break.
So either side will be concentrating on those swinging states, maybe 10 or 15 in totaal.
And as Hillary found out last time, you can get get the majority of votes, but still lose the delegates.
States like California have lots of voters, but whether you win by 1 vote or 5 million,. its still the same number of delegatres.

One of the more interesting facts about the US election is that at Noon on January 20th, 2021, both the president and vice president leave office,
Which is ok if there is a president and vice president elect standing by to be sworn in.
But this is a very unusual year.
The Pandemic will almost certainly delay the counting of the election results.
Given the rancour on both sides, even after the results are in there are likely to be lots of court cases disputing anything and everything.
This would play into9 the hands of the Democrats because, if by Noon on 20th January, no president elect has been decided, the speaker of the house, none other than that ole dragon Nancy Pelosi. will become the President until such time as a winner is decided.
And if enough lawyers get involved, that could take some time.
]What an irony it would be if the first femal president of the USA got there by accident!
Now that will be interesting!

Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Sep 2 2020, 10:32 PM


Group: Member
Posts: 2,816

Well, the police state in Victoria has been firmly accomplished.
According to The ABC

A pregnant woman from Ballarat has been arrested , handcuffed and led away in her Pyjamas.
Her crime?
Postinjg something on Social Media about a protest in Ballarat gardens.

QUOTE
A woman's arrest for allegedly inciting an anti-lockdown protest in regional Victoria has gone viral after it was live-streamed on Facebook.

Key points:
Police say the woman was arrested in relation to a social media post
She was taken into custody and charged with incitement
Regional Victoria is under stage 3 stay-at-home orders, and gatherings are banned
The 28-year-old woman started filming when police arrived at her house in Ballarat, west of Melbourne, on Wednesday afternoon.

In the video, she asks for a search warrant, which the police hand over.

"You're under arrest in relation to incitement," an officer says.

The woman asks her partner to keep filming as police handcuff her.

"Excuse me, what on earth?" she asks.
In the video, an officer tells the woman her arrest was in relation to a social media post, allegedly encouraging people to attend a protest in Ballarat against COVID-19 restrictions.


The descent into a police state is complete.
Mick (about as pissed off as I can get, and I haven't even had a drink).
  Forum: Off Topic Chat

mullokintyre
Posted on: Sep 2 2020, 12:33 PM


Group: Member
Posts: 2,816

Its not often I agree with a politician, but in this case, Andrew leigh has absolutely nailed the hippocracy of Business.
QUOTE
From The OZ

Opposition frontbencher Andrew Leigh last night delivered a stinging attack on companies that have been recipients of JobKeeper payments and paid their executives huge bonuses.

“A scheme designed to reduce inequality is being misused by a small number of firms who are channelling it to executive bonuses,” he said in a speech to parliament.

Mr Leigh listed a number of examples including Accent Group, which received $13m in JobKeeper payments then gave its chief executive Daniel Agostinelli a $1.2m bonus.

IDP Education received $4m in JobKeeper and gave chief Andrew Barkla a $600,000 bonus. Last year Barkla ranked as one of the highest paid chief executives taking home $37m.

Star Casino received $64m in JobKeeper and its chief Matt Bekier received an equity bonus worth $800,000.

SeaLink gave chief executive Clinton Feuerherdt a $500,000 bonus after receiving $8m in JobKeeper.

READ MORE:Battle over JobKeeper to dominate Senate sitting|Qube dividend follows JobKeeper aid
Mr Leigh also cited companies that used JobKeeper to boost dividend payments.

He cited furniture retailer Nick Scali which received $4m in payments from the New Zealand and Australian governments and increased its dividend to the Scali family by $2m.

1300 Smiles got $2m in JobKeeper and paid $3m to shareholders. Its chief Daryl Holmes owns two-thirds of the company so will collect nearly $2m or about the same as the JobKeeper payments.

Mr Leigh quoted Ownership Matters’ Dean Paatsch saying, “I don’t think it was ever the intention of the government to subsidise executive salaries.

“If you’re getting taxpayer subsidies the CEO shouldn’t be getting a bonus.”

There are so many disgusting points displayed here.
Firstly, the idea of getting a bonus when you have received government Largesse is obscene.
There is absolutely no justification for it.
Supporters will rabbit on about the difference between cash flow and profit, and that these bonus's were acheieed over the whole year etc etc, but that is trying to put lipstick on a pig.
It just doesn't pass the pub test.
The upper echelons of business elites have lost touch with the people who do the work to put them there.
Egotistical, overpaid, greedy bastards.
Secondly, the is no justification, none on earth, why anyone should be paid 37 million bucks a year as a CEO.
Its not even a large company at 5.5 billion bucks capital.
It is on a high PE of 78.
These overpaid greedy jerks
We hear the usual claptrap of if you pay peanuts you get monkeys.
At least we can use the monkeys for testing the virus vaccine.
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Sep 2 2020, 12:06 PM


Group: Member
Posts: 2,816

As if the shortage of Chickens and eggs to produce a virus wasn't bad enough, now it looks like there is a shortage of monkeys.
From The Devil

QUOTE
A shortage of monkeys in the United States will delay efforts to develop a vaccine for the coronavirus, researchers have warned.

Tests on rhesus macaque monkeys are typically the last hurdle before human trials can begin. But as scientists race to advance scores of possible vaccines and therapies, US research centres are saying that there are not enough monkeys to undergo trials.

“Nationally there is basically a big shortage,” Koen Van Rompay, of the California National Primate Research Centre, told The Atlantic magazine. “We can’t find any rhesus any longer. They’ve completely disappeared.”


Potential shortages of monkeys had been a cause for concern years before the coronavirus pandemic. In 2018 the National Institutes of Health (NIH) conducted an “analysis of future demand and supply”, which found shortages at several research centres.

Demand for rhesus macaques was rising, the report said, but breeding more animals took time. It said that testing centres were reliant on imports of monkeys from China, where breeding programs were larger and did not face the same public scrutiny. But the report noted that some airlines had become unwilling to transport the animals.

After the pandemic began, China halted monkey exports. Faced with the shortfall, the NIH stepped in to assess which studies should be allowed to proceed at its approved testing centres. Dr Van Rompay said he now received regular requests from companies hoping to conduct a test. “I have to tell them, ‘I’m sorry, we are not allowed to start your research,’ ” he said.

READ MORE:Firm to keep tabs on vaccine side effects|Virus vaccines: what’s coming and when?|Vaccine verdict ‘for Christmas’|How we know vaccines are safe|Britain warned of worse as US targets vaccines
Monkeys’ immune systems are so similar to those of humans that researchers can administer the same vaccine test. They can also carry out “challenge” trials in which the monkey is vaccinated and then infected with coronavirus. Some researchers have suggested speeding up the process by moving straight to “challenge” trials on humans, although this is controversial. Even trickier is the question of how a vaccine might be tested on children, who are typically excluded from medical research, although tests on infant monkeys could pave the way for such trials.

Perhaps the researchers could switch to Politicians, there is no lack of them.
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Sep 2 2020, 08:58 AM


Group: Member
Posts: 2,816

So, a mother can't travel from NSW border region that has no virus cases to brisbane for vital hospital treatment for her unborn twins.
Yet a great cohort of Victorian football people, which has lots of virus cases, can travel with their families to Brisbane.
So how many of them had to travel more than 5km from their homes to get to the airport?
Why were the police not stopping them and at least asking for their "papers".
Hippocracy strikes again.
It just shows that so much of the bulshit coming from governments and their agencies are nothing to do with public health, but all about politics.
As for the two clowns below constantly sniping at each others bullshit, why not just go to Hot Copper with the other clowns.
You will feel at home.
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Sep 1 2020, 04:32 PM


Group: Member
Posts: 2,816

A bit before its time? Prescient maybe?
Nah,
The more things change, the more they stay the same.
Mick
  Forum: Investment Discussion

mullokintyre
Posted on: Sep 1 2020, 09:57 AM


Group: Member
Posts: 2,816

VMC's 30% joint Venture with ROX has seen some pretty good drill results.
Expect there to be a leg up today.
Thanks for this one Triage.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Sep 1 2020, 09:02 AM


Group: Member
Posts: 2,816

Well, thats going to be problem.
Given that hundreds of thousands of chickens and emus have been killed off with the Victorian Bird Flu pandemic , there may not be enough eggs after all!.
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Aug 31 2020, 09:46 AM


Group: Member
Posts: 2,816

In the case of Modema, they spent a lot of Government money on R & D.

Micik
  Forum: Off Topic Chat

mullokintyre
Posted on: Aug 31 2020, 09:44 AM


Group: Member
Posts: 2,816

With the price of copper going up, it seems like the thefts of copper go up in sync.

From The OZ
QUOTE
The WA government is regulating copper due to widespread theft from homes, industrial sites and even memorial plaques and the live electricity network.

Unlike gold and silver, there is currently no requirement in the state to record information about the sale of copper, making it an attractive metal for criminals to steal and quickly make a profit from.

The state government says the problem has escalated in recent times, with thieves stripping copper wiring from residential and commercial properties - even sculptures.

Worryingly, utility Western Power says there has been significant theft of copper from around its live electricity network, leaving power poles and other infrastructure in a potentially unsafe state.

Under the State Government’s proposed legislative amendments, sellers of copper will be required to produce identification and licenced dealers will have to record all transactions and report details to police.

“The cost of the mess and significant damage being left by copper thieves exceeds the value of the copper stolen,” Police Minister Michelle Roberts said.

“It doesn’t matter if its wiring, piping, brackets, even memorial plaques, it seems these thieves will steal anything to make a quick buck.

“It’s effectively both vandalism and theft.”

She said the State Government was looking into more comprehensive legislative

OZL recently reached 52 week highs.
Mick
  Forum: Macro Factors

mullokintyre
Posted on: Aug 31 2020, 09:08 AM


Group: Member
Posts: 2,816

Silver on the march again.
Was briefly above 28 early this A.m.
Just below it now.
Its leading ahead of gold for a change.
Mick
  Forum: Macro Factors

mullokintyre
Posted on: Aug 31 2020, 09:03 AM


Group: Member
Posts: 2,816

Donald trump has copped a lot of criticism from many quarters for pushing HCQ, Zince, and a good dose of Bleach.
But at least HCQ was off patent and relatively cheap.
In that great old tradition of never letting an opportunity go for making a buck comes this.
From Zero hedge
QUOTE
Before the mainstream media transfigures Moderna founder and CEO Stephane Bancel into a corporate savior on par with Bill Gates, we'd like to remind investors (and the public) that Moderna and its insiders have demonstrated an eyebrow-raising affinity for pumping the stock with over-hyped press releases then cashing in shares or warrants (all insider stock sales were pre-scheduled divestitures, the insiders' lawyers have argued).Despite receiving nearly $1 billion in taxpayer money via "Operation Warp Speed", the drugmaker is planning to charge as much as $37 for a single dose, or up to $60 for two courses, of its experimental mRNA COVID-19 vaccine. That's far and away the highest price point disclosed yet.
And while we wait for more detailed data from the vaccine's Phase 3 clinical trials, patent advocacy group KEI is taking Moderna and its executives to task for neglecting to disclose government funding received by the company during its early stages, before the coronavirus pandemic.

Despite receiving $25 million from the Department of Defense's "Defense Advanced Research Projects Agency" - or "Darpa" - Moderna has never disclosed this, or any other, government funding in its applications for 126 patents and 154 patent applications. KEI has lodged a request with the DoD and Darpa to remedy this in patents.

As KEI points out, Moderna's "failure" to disclose its government funding could have serious consequences for Americans hoping to get their hands on an affordable vaccine. The disclosures could affect everything from the US government’s worldwide royalty free license, to the public’s march-in rights, to obligations to make inventions available to the public on reasonable terms.

When approached by the FT, Darpa confirmed that Moderna was required in its contracts to disclose the funding in any patent applications that stemmed from research that the US government helped fund.

Now, Darpa is actively looking into which Moderna patents may have been produced with Darpa support, so the US government can take credit where credit is due.

"It appears that all past and present Darpa awards to Moderna include the requirement to report the role of government-funding for related inventions," Darpa spokesman Jared Adams said in an emailed response to the Financial Times. "Further, Darpa is actively researching agency awards to Moderna to identify which patents and pending patents, if any at all, may be associated with Darpa support," he said. Mr Adams declined to comment further, saying the investigation was continuing. US federal law required government funding to be disclosed in these circumstances, he noted.


So many people pilloried Big oil, big Tobacco, and big Booze.
But when it comes to screwing all and sundry, they pale into pretenders when up against Big Pharma.

Note that the vaccine being developed by AstraZeneca and the University of Oxford is priced at about $3 per dose.


Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Aug 31 2020, 08:50 AM


Group: Member
Posts: 2,816

I have never been a fan of Elon Musk, though I have to admire what he has done with Space x and to some extent the Tesla EV's.
I thought his ego driven foray into "helping" the cave bound kids in Thailand and then naming as "pedo" one of the cave divers who called out his stupidty was about as crass as Donald trump can get.
But his latest foray into medicine his most egregious fraud yet.

From Zero Hedge
[quote]
Elon Musk's Neuralink update presentation culminated on Friday when the company unveiled a "pig named Gertrude" that has supposedly had a coin-size computer chip in its brain for two months. Fast forward through a fancy display showing tiny dots and making beeping noises and we think it's clear - this is a chip that is doing - well, stuff.

Neuralink has said that it aims to "implant wireless brain-computer interfaces that include thousands of electrodes in the most complex human organ to help cure neurological conditions like Alzheimer's, dementia and spinal cord injuries and ultimately fuse humankind with artificial intelligence," according to Reuters.

Musk continued to tout that line of thinking, stating on Friday: "An implantable device can actually solve these problems."
It goes beyond cleaning up your carbon footprint and pulls at the emotional heartstrings of many who are suffering. Musk has claimed that Neuralink would eventually be able to "help cure neurological conditions like Alzheimer's, dementia and spinal cord injuries and ultimately fuse humankind with artificial intelligence".

This sent droves of desperate people looking for relief to Twitter, as was documented by the Twitter account @GretaMusk in a thread on Saturday. "It is literally everything," one person wrote. "I can't stop crying...it means help for my son."

Another wrote: "My daughter has Rett syndrome" and "I wonder if Neuralink could potentially help people like her." Others sought relief from PTSD, bi-polar disorder and lupus. /quote]

This about as bad as the fake god botherers who reckon they can heal the sick.

All those unfortunate people with nuerologcal conditions will be given false hopes , only to have them dashed again.

Mick
There is a
  Forum: Investment Discussion

mullokintyre
Posted on: Aug 28 2020, 07:40 PM


Group: Member
Posts: 2,816

There is an argument to be made that the published inflation figures are bullshit anyway, not just in the USA, but also in Aus.
The averaging of inflation, and the averaging of how much households spend on each category is just that an average.
It bears little resemblance to the household expenditure at various levels of household income.
Poor people don't spend a lot on cars, travel, electrical goods or dining out.
The rent for instance, can consume up to 30% of their weekly income.
For the poor people at the bottom end, inflation has been rising steeply.
For those at the top, they would be completely impervious to price changes in any direction.
Any elderly person trying to live on a pension is not affected in anyway by the price of childcare , travel or education.
The cost of private healthcare is of major importance, as is the cost of food.
A family with only one bread winner would probably find the rising costs of car registrations, as well as child care, and education of major importance.
I suspect that the averaged CPI figures are reasonably true for only a small percentage of the population.
Mick
  Forum: Investment Discussion

mullokintyre
Posted on: Aug 28 2020, 05:00 PM


Group: Member
Posts: 2,816

Much to my surprise, the announcement re the abandoning of inflation targets did not put a rocket under the Precious metals.
There was a spike of gold pricing, but it was quickly shutdown.
Both Gold and silver rose after the Asian market openings this morning, a reversal of recent trends.
Be interesting to see how it all ends for the weekend.
mick
  Forum: Investment Discussion

mullokintyre
Posted on: Aug 28 2020, 10:21 AM


Group: Member
Posts: 2,816

Some more good drilling reuslts out this morning.
Looks like the Roswell area is deep and continuing, so may well keep them going for some time yet.
Still holding.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Aug 27 2020, 11:42 PM


Group: Member
Posts: 2,816

From Coin Telegraph
QUOTE
Major Korean crypto exchange seized after 99% trading volume allegedly faked
Police claim that wash trading and market manipulation by the owner and management team of the Coinbit exchange netted over 100 billion won.South Korea’s third-largest cryptocurrency exchange, Coinbit, has been seized by police following fraud allegations. According to an Aug. 26 report by the Seoul Shinmun, 99% of transaction volume on the exchange was faked through wash trading.

The Seoul Metropolitan Police searched and confiscated a number of properties, including Coinbit’s headquarters in the Gangnam district of Seoul.

Coinbit’s owner, Chairman Choi Mo, and his management team are accused of inflating transaction volumes and manipulating token prices using a number of ghost accounts.

Police estimate that the fraudulent activities netted over 100 billion won ($84.26 million) in total.
The Seoul Shinmun was alerted to suspected wash trading on the exchange by an insider in May. Following an investigation, it found that, between August 2019 and May 2020, 99% of transactions on Exchange 1, where major cryptocurrencies such as Bitcoin (BTC) were traded, had no corresponding deposit and withdrawal details.

In addition, it found that Exchange 2, which mainly listed smaller cryptocurrencies, blocked coin transactions with other exchanges, enabling Choi and his team to control the supply of coins. This allowed the management team to directly realize market margin by buying and selling large quantities of coins at certain times.

The publishing of the investigation findings was held back until after the police operation due to concerns about personal safety and destruction of evidence.

Wash trading on exchanges is a major problem for the cryptocurrency industry, with many legitimate traders lured into using low-liquidity exchanges based on fraudulent daily volume claims.


Just when you think that Technology has at last go the better of scammers, something like this pops up.
Sigh!
Mick
  Forum: Investment Discussion

mullokintyre
Posted on: Aug 27 2020, 04:03 PM


Group: Member
Posts: 2,816

Ya gotta love those experts. Pick almost any stock and you can find people at either end of the spectrum.
CITI released a statement that cut the forecast price for IPL from2.43 to 2.40. Big deal, it changes more than that intraday.
Within a couple of days, Morgan Stanley released its statement where it upgraded the price of IPL from 2.00 to 2.25.
They must take it inturns to load up on a stock then spruik the price to fleece the sheep.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Aug 27 2020, 12:43 PM


Group: Member
Posts: 2,816

Well, just after the cap raising, the announcement about the "choosing" of Nomix to use the brine output products to produce battery cells.
A cynic might suggest that the sophisticates may have been nudged with this information before the market was informed, but of course that would be highly illegal.
I still don't understand why they do not organise these announcements before they do the cap raising.
They would get a greater price for their issued shares and tend not to piss off the remaining shareholders.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Aug 27 2020, 12:34 PM


Group: Member
Posts: 2,816

A novel approach to Nickel production, via plants, that is floras type plants rather than industrial plants.
From BBC

QUOTE
Rare and valuable plants that naturally “mine” large quantities of nickel are thought to be hiding in Indonesia’s forests – but it is a race to discover them before they are wiped out.Most plants draw up tiny amounts of heavy metals to activate some important enzymes, and nickel is needed to activate one crucial to plants’ flowering process. But even slightly too much nickel can poison and kill most plants. Nickel hyper-accumulators, however, have evolved the ability to withstand this excess by binding the metal inside their cell walls or storing it in their vacuoles – a storage organelle inside the cell, says Tjoa. They mainly store the nickel in their shoots, leaves, roots or sap.
Some nickel-loving species like Alyssum murale, native to Italy, can take up to 30,000 micrograms of nickel per 1g dried leaf. Some, like Phyllantus balgoyii, found in Malaysia, have such a high nickel content that their sap is a remarkable bright blue-green colour. So far, around 450 species of nickel-loving plants have been documented worldwide. Most of these plants grow in countries with less plant diversity and lower nickel deposits than Indonesia, such as Cuba (130 species), southern Europe (45), New Caledonia (65) and Malaysia (24).
After four years of exploration, Tjoa at last spotted two species of indigenous nickel hyper-accumulators in 2008: Sarcotheca celebica and Knema matanensis. In the lab, she found that both of these native plants could store between 1,000 and 5,000 micrograms of nickel per gram of dried leaf.

It was a start, but Tjoa was still hoping for something more. Compared with nickel-loving plants found elsewhere, these two showed fairly modest powers of hyperaccumulation. “We’re looking for plants that could accumulate at least 10,000 micrograms [per gram],” she says. At that threshold, it becomes economically viable to cultivate the plant for mineral extraction – or “phytomining”.

Tjoa’s research on these plants drew the attention of Satria Bijaksana, a professor of rock magnetism from Bandung Institute of Technology. Bijaksana was looking for relevant research on the relationship between Sulawesi’s geology and ecology, when he became fascinated by the phytomining studies conducted by Tjoa and by van der Ent. He wondered if his own expertise in magnetism could help speed up the search.
As hyper-accumulators have very high quantities of metals, so do their ashes once they have been burned – and some of these metals are magnetic. A number of studies have shown that nickel uptake in hyper-accumulator plants happens at the same time with the uptake of iron – a highly magnetic metal. Together with Tjoa, Bijaksana designed an experiment to see if magnetic susceptibility increases when the plants accumulate more nickel. By comparing the ashes from two species of well-known hyper-accumulators (Alyssum murale and Alyssum corsicum) with 10 indigenous plants in Sulawesi and Halmahera, they found another positive result – one of the native plants was high in both iron and nickel.

No other country has a greater potential for phytomining than Indonesia – van der Ent
“We think using magnetism could speed up the process because it only detects high concentrations of nickel,” says Bijaksana, leading to fewer false positives as a result. Their study, which was published in May 2020, identified two further species of nickel-loving plants from Sulawesi: Casearia halmaherensis and another that was a type of pepper. Both could accumulate 2,600-2,900 micrograms in 1g of dried leaf. While the research is still preliminary, Bijaksana hopes it could convince people to take phytomining seriously in Indonesia.The beauty of nickel hyper-accumulators is that they collect something that is both a toxic pollutant if left in the soil, and a valuable material – nickel is used in making products from kitchen taps to electric car batteries. Collecting the nickel from plants is a relatively easy process.

The University of Queensland’s van der Ent has calculated that a hyper-accumulator like Phyllantus balgoyii can produce an estimated 120kg of nickel per hectare every year. That translates to a market value of around $1,754 (£1,300) per hectare. Extracting the nickel involves pruning the shoots – which hold the highest concentrations of the metal – and burning them, after which the nickel can be separated from the ash. This involves releasing carbon dioxide through burning, but the continuous cultivation of nickel hyper-accumulators can be considered carbon neutral, says van der Ent. “All carbon released from the burning will be ‘captured’ again by the newly growing crop in a few months,” he says.


Might be way for small communities in poor regions to make a few bucks.

Mick
  Forum: Macro Factors

mullokintyre
Posted on: Aug 27 2020, 09:30 AM


Group: Member
Posts: 2,816

Marcus Blackmore, son of the founder of Blackmore's Vitamins has always had a special place in my thanks table.
When my wife owned a pharmacy, Blackmores was a very profitable side of the business.
So it was with interest I read an article about Blackmores views on companies.

QUOTE
Marcus Blackmore, the vitamin company pioneer, says employers and boards all too often get things wrong.

Boards worry about the shareholders not the staff, he noted.

“The board sits there worrying about shareholders — that’s garbage. Worry about your staff, and the shareholders will be looked after,” Blackmore told the latest Blenheim Partners’ No Limitations podcast.

And that’s not the only thing the companies aren’t doing right.

Yeah says I that sounds about right, bit of common sense there.
But then It all fell apart.

QUOTE
Blackmore reckons the key to selecting staff is not just through personality tests like the Myers-Briggs test but by also getting an astrology reading on prospective staff.

“Now, I’m not talking about the rubbish you read in women’s magazines and the newspaper,” he clarified.

“But, if you get a really good astrologer and they know the hour you are born — whether its Indian astrology, Chinese astrology, they can really type you.”

Blackmore was giving his views to Greg Robinson, managing partner of the research-led executive search and board advisory firm.

Blackmore got the idea to include the Myers-Briggs test into staff selection from the Andrew Banks-led recruitment company.

Sceptical at first, he was surprised at how well it captured him. “You need to add in the Linda Goodman star signs,” he added.

Blackmore indicated he had been sacked by his father three times.

“My dad was a Gemini, they’re good half the time, and I’m an Aries, so we were bound to have a few clashes along the way.”

Astrology?
YA GOTTA BE KIDDIN ME!
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Aug 26 2020, 01:44 PM


Group: Member
Posts: 2,816

At last, good news out of Africa.
From ABC NEWS

QUOTE
Africa has been declared free of the wild poliovirus, after decades of effort.

Key points:
No cases of wild poliovirus have been reported in Africa for four years
This is just the second time a virus has been eradicated in Africa
Cases remain of a vaccine-derived strain of the disease
The announcement, by the African Regional Certification Commission for Polio Eradication, comes after no cases were reported for four years.

But cases of vaccine-derived polio are still sparking outbreaks of the disease in more than a dozen countries.

Polio once paralysed some 75,000 children a year across the African continent.

Pakistan and neighbouring Afghanistan are now the only countries thought to still have the wild poliovirus.

In both countries, vaccination efforts against the highly infectious, water-borne disease are complicated by insecurity and attacks on health workers.

African health authorities see the declaration as a rare glint of good news in Africa amid the coronavirus pandemic, an Ebola outbreak in western Congo and the persistent deadly challenges of malaria, HIV and tuberculosis.

The World Health Organization (WHO) says this is just the second time a virus has been eradicated in Africa, after the elimination of smallpox four decades ago.This new declaration doesn't mean Africa is polio-free.

The continent still sees cases of vaccine-derived polio, which is a rare mutated form of the weakened but live virus contained in the oral polio vaccine.

This weakened form of the virus can pass among under-immunized populations and eventually changes to a form that can cause paralysis.

That mutated virus can spark crippling polio outbreaks, and 16 African countries are currently experiencing cases: Angola, Benin, Burkina Faso, Cameroon, Central African Republic, Chad, Ivory Coast, Congo, Ethiopia, Guinea, Ghana, Mali, Niger, Nigeria, Togo and Zambia.

I hope the part about the spread after vaccination is not used by the anti vaxers.
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Aug 26 2020, 10:42 AM


Group: Member
Posts: 2,816

DCN down to 33.
If it gets to 30 I will buy in again.
It does have a defined production path for next three years.
Solid , but not spectacular.
They have almost enough cash on hand to pay off all debt, and are rapidly reducing their ridiculous hedge book, with it gone by the end of this Fin Year.
So, despite my previous aversion, I am going to go back in at 30 or uder.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Aug 26 2020, 10:17 AM


Group: Member
Posts: 2,816

Picked up some at 2.97 on the open.
Happy to sit back and hold for long term storage.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Aug 26 2020, 09:56 AM


Group: Member
Posts: 2,816

Cap raising to the sophisticates at 0.03.
With the price nudgng .037 prior to the TE, this is a pretty good discount to the sophisticates.
Now a big queue of sellers lined up.
Only way is down from here, at least we probably can assume that .03 will provide the downward floor price.
Think I will take my losses and run away.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Aug 26 2020, 09:49 AM


Group: Member
Posts: 2,816

Bill Evans predictions are looking ok currently.
AUD back above 72 against the USD.
USD is very much on the nose at the moment.
Mick
  Forum: Macro Factors

mullokintyre
Posted on: Aug 25 2020, 07:24 PM


Group: Member
Posts: 2,816

Much P!ss has been taken allright!
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Aug 25 2020, 06:10 PM


Group: Member
Posts: 2,816

The Federal court has given its ruling in the Palmer vs WA border closure case.

From ABC NEWS

QUOTE
The WA Government has lost its bid for a fresh trial in its border battle with mining billionaire Clive Palmer, following a ruling by the Federal Court.

That is despite the court ruling Western Australia's interstate border closure was more effective at keeping coronavirus out of the state than any other measure,
The matter was sent to the Federal Court to determine key facts of the case, including the health risk posed by COVID-19 and whether border closures were the most effective measure to contain its spread.

It will now go on to the High Court where constitutional issues will be considered.

During a four-day hearing in late July, the court heard testimony from a range of epidemiological experts.

As is usual for constitutional matters, the Commonwealth was initially a party to the case, with its Solicitor-General Stephen Donaghue arguing against the border closure in the court hearings.


never really understood why they didn't just send it to the high court.
I am particularly troubled with the idea that a court can make a statement such as this. Whether closing borders is or is the most effective at keeping coronavirus out of the state should not be for courts to decide.
This is not a point of law, and in this instance, the Judiciary have no more expertise nor jurisdiction than anybody else.
I am sick of activist judges branching out from the strict legal responsibilities that are bestowed on them.
A pox on their houses.
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Aug 25 2020, 10:27 AM


Group: Member
Posts: 2,816

looks like its topped out. Reached the high of 2.64 on the open this morning, but has since fallen back to 2.19.
Looks like it will finally take a breather.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Aug 25 2020, 10:20 AM


Group: Member
Posts: 2,816

ALK put out an only sos so report.
Most things are down due to the shift from open cut to underground mining.
The only saving grace was that the price received for gold sales was 22% higher than the previous year.
With the demerger of ASM , ALK is now only a gold play.
The next two development approval at San Antonio and Roswell have commenced with NSW government, and farm land as well as fleet vehicles purchased in anticipation of approvals.
Don't think we will see much improvement for a while.
Down 5% today.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Aug 24 2020, 08:59 PM


Group: Member
Posts: 2,816

So, you looking for a ten bagger??
never been game enuff to get there myself.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Aug 24 2020, 07:45 PM


Group: Member
Posts: 2,816

GAL is still being a good gal.
Here's to ya riches.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Aug 24 2020, 05:37 PM


Group: Member
Posts: 2,816

A picture tells a thousand words.

syllogism?
With a little help from photoshop/
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Aug 24 2020, 04:32 PM


Group: Member
Posts: 2,816

Its some drilling results from Mt Boppy with some pretty interesting intercepts.
Mr Market liked it.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Aug 24 2020, 03:16 PM


Group: Member
Posts: 2,816

You may be correct, I don't know.
There has not been any surveys or consultation as far as I am aware.
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Aug 24 2020, 12:50 PM


Group: Member
Posts: 2,816

Once again, Sweden is being talked about as perhaps having the right approach ti the virus.
From The Times via OZ newspaper


QUOTE
Sweden is beating many European countries in the fight against new coronavirus infections, possibly because of its decision not to implement tough lockdown measures.

As cases surge across Europe, leading to new restrictions such as the mandatory wearing of face masks in many public areas, the infection rate in Sweden is falling.

“Sweden is doing fine,” Arne Elofsson, a professor in biometrics at Stockholm University, said. “Strict rules do not work as people seem to break them.”

Figures from the European Centre for Disease Prevention and Control show that the infection rate in France is more than 60 per cent higher than that of Sweden. France implemented a strict lockdown in the spring and requires masks to be worn in many public areas but has a fortnightly infection rate of 60 cases per 100,000 people.

Sweden, which decided not to implement compulsory measures at that time and which rejected the use of masks, has a rate of 37 cases per 100,000 people. The government is recording between 200 and 300 new cases a day, with deaths down to three last Friday.

Anders Tegnell, the Swedish state epidemiologist leading the response to the pandemic, has noted, based on the statistics, that infection rates have increased in countries such Spain, Belgium and France during and following the mandatory wearing of masks in many public areas.“The belief that masks can solve our problem is very dangerous,” he said last week.rom the beginning of the pandemic Sweden built its response on voluntary social-distancing guidelines, including home-working and recommendations for people to avoid public transport.

Compulsory measures were limited to a ban on gatherings of more than 50 people, restrictions on visiting care homes, and table-only service in bars and restaurants. On Friday Stefan Lofven, the prime minister, told the newspaper Dagens Nyheter: “What has been discussed most, and what we did differently in Sweden, was that we did not close schools. Now there are quite a few people who think we were right.”

The decision not to implement a lockdown was not without cost. Sweden’s per capita death rate from COVID-19 is the sixth highest in the world and much higher than its Nordic neighbours: more than five times Denmark’s.

Even in terms of the death rate, however, Sweden’s experience is more complex than first apparent. Half the country’s 5,810 COVID-19 deaths have taken place in care homes, rather than in the general population.

Belgium, which implemented a stringent lockdown in March, has the highest per capita death rate from the virus in the world. Similarly to Sweden, about half the Belgian deaths occurred among elderly and infirm people in care homes who were not affected by the absence or otherwise of lockdown measures.

“Clearly it is a tragedy that so many people died in the elderly homes but it is not really clear what would have been the best strategy to avoid that,” Professor Elofsson said.

One key factor in Sweden’s lower rate of infection is thought to be the emergence of a form of “herd immunity” that is more advanced among Swedes than in countries where lockdowns were implemented.

This means that Sweden is now, according to some evidence, benefiting from avoiding compulsory restrictions.Looking at the total number of people infected since the crisis began, Sweden has one of the highest figures in Europe, at 843 cases per 100,000 people. In France, after restrictions on social interaction and measures such as the use of face masks, which will be compulsory at work from September 1, the total figure is 349 cases per 100,000.

The higher level of cases among the general population in Sweden is thought – by Dr Tegnell and other Swedish scientists – to indicate a form of immunity much wider than that accounted for by the numbers of people carrying antibodies for the virus.

“What we are seeing now in Sweden is a rapid decline in the number of cases, and of course some sort of immunity must be responsible for that since nothing else has changed,” Dr Tegnell told the Unherd website last month.

A study publicised by the Karolinska Institute in Stockholm last week found that people who test negative for antibodies may still have a high level of immunity, through white blood cells that identify and destroy the virus. “T-cells are a type of white blood cells that are specialised in recognising virus-infected cells,” Professor Marcus Buggert, an immunologist at the institute, said. “Our results indicate that roughly twice as many people have developed T-cell immunity compared with those who we can detect antibodies in.”

The research indicates that levels of combined T-cell and antibody immunity could be more than 30 per cent, giving Sweden an edge in preventing the same resurgence in the virus that is taking place across Europe. “I think it is likely that such outbreaks will be easier to control in Sweden because there is immunity among the population,” Dr Tegnell said. “All previous experience with measles and other diseases shows that a high level of immunity in the population makes it easier to control the outbreaks than when there is no immunity at all among the population.”


The research on T-cells is highly illuminating.
It may well be possible that some of us already had immunity to the virus, which helps to explain why some people catch it at close quarters, while others do not.
It will be more than a little ironic if in the end, the approach by Sweden turns out to be the optimum, although they admit they were too slow to isolate their elderly homes.
But hindsight is such a usefull tool.
Much has been said about the compulsory mask wearing being a curb on the spread.
But of course we have no way of knowing whether this is true.Plenty of health professionals wear lots of PPE equipment and still manage to get it.
In the first phase of lockdown, we did not have compulsory masks.
Compared to the second phase where masks became compulsory, one could well argue that it has made little difference given the greater numbers of cases in phase 2.
And what happens when the third, fourth and fifth wave turns up?
Yesterday, despite the icy wind blowing from Antarctica, I broke the law.
I drove my car about ten miles out of town among farmland , and went for a 5 km walk without a mask on.
I saw two other cars on the road, and no other persons.
Though there were some sheep.
Mick


  Forum: Off Topic Chat

mullokintyre
Posted on: Aug 24 2020, 11:12 AM


Group: Member
Posts: 2,816

And still it marches higher!
High of 2.29 so far today.
228 mill cap value from a spin off.
Not bad.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Aug 24 2020, 11:08 AM


Group: Member
Posts: 2,816

You're a brave bloke Alonso.
Airlines are are not something I want to invest in given the current circumstances.
But if I did, REX would probably be the best of them.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Aug 24 2020, 10:31 AM


Group: Member
Posts: 2,816

SBM had a solid report, not spectacular.
Debt reduction post report was good.
tlantic gold purchase looks like it will pay off. NPAT down, cash earnings up, dividend maintained.
Biggest worry is the continuing decline in production from Leonora.
They may need to spend some more on exploration.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Aug 24 2020, 10:23 AM


Group: Member
Posts: 2,816

Hope you are still holding Triage.
Terrific final report out.
Gold production up 17%.
AISC down 2.4%.
Revenue up 31%
NP after tax up a whopping 420%.
Cash and bullion up 80% to 185 mill with only 24 mill in debt.
Divvy of 2CPS.
Next years guidance for another 15% increase but at slightly higher AISC.
Can't really ask for much more than that.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Aug 24 2020, 10:16 AM


Group: Member
Posts: 2,816

Well, its gone into a trading halt pending an announcement.
let's hope its good news.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Aug 24 2020, 10:14 AM


Group: Member
Posts: 2,816

Lke in trading Halt.
Wonder if its a further announcement about brine processing or a cap raise??
Mick
  Forum: By Share Code

mullokintyre
Posted on: Aug 24 2020, 09:31 AM


Group: Member
Posts: 2,816

From Advancing Time

QUOTE
Tesla's valuation seems a bit over the moon considering on Friday it closed for the second time over $2,000. With the stock at a whopping P/E ratio of 1,066 times earnings, Tesla sports a market cap of over 373 billion dollars. Those of us without a great love for Tesla or Elon Musk see this as the poster child of absurdity. By comparison, Volkswagen, which sold over 10 million vehicles last year has a market cap of $82 billion and auto giant Toyota around $218 billion. Simply put, Tesla’s market cap has risen 244% this year while the market cap of the industry, excluding Tesla, is down 17%.In normal times Tesla would most likely be a company only visible in the rear-view mirror. The value of Tesla's stock dramatically changed years ago following the report where it made its first quarterly profit, its market value soared to more than $10 billion. A large part of the increase in the stock price occurred because people that had short positions in the stock were squeezed into buying back their stock. This is something that has happened time and time again causing speculation that the company plays fast and loose with the numbers it reports.

Fast forward to today and we find that Tesla's recent rally pushed its market value has made it by far the most valuable automaker in history. It is impossible to deny that Tesla's stock has been on a hot streak, but not just lately, a year ago it traded for only $211 per share. The momentum has been infectious throughout the year and it took five trading sessions for Tesla stock to rally 40%. At Friday's high of $2,081.68, Tesla stock was up more than 51% in the last eight trading sessions.

Part of the recent surge has been contributed to an announced a 5-for-1 stock split. Over the last three months, Tesla stock is up more than 150%. From the March lows, shares are up an astounding 493%. If that feels too cherry-picked, just realize that Tesla is up 390% year-to-date and more than 800% over the past 12 months. Part of the irony surrounding Tesla's current high multiple market cap is that company could take or borrow five billion dollars to buy 100,000 of its own cars to destroy. This would increase sales sending profits and revenues even higher.


Loved that second last line, says it all.
Mick
  Forum: Investment Discussion

mullokintyre
Posted on: Aug 24 2020, 08:53 AM


Group: Member
Posts: 2,816

Given that the UK is about to enter Autumn, I am going to bet most of the dames are washed out.
I think so far, every test has had rain interruptions n just about every day, with some whole days lost.
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Aug 23 2020, 04:33 PM


Group: Member
Posts: 2,816

Yeah, this test has some remarkable similarities to the one in Brisbane where lambshanks and Smith took them apart..
The young pakistani quicks after making early inroads with a new ball, did not take another wicket for another 100 overs.
They need to learn how to winkle players out on good pitches.
Not sure they get that experience in Pakistan.
Mick
  Forum: Off Topic Chat

Poll: Politics
mullokintyre
Posted on: Aug 23 2020, 01:04 PM


Group: Member
Posts: 2,816

I know everyone has been following the NT elections with rapturous interest.
As has been the case in all the most recent elections, inner city residents voted for Labor, whilst those outside the inner city voted for someone else.
We continue to be a divided nation.
One of the interesting things about the NT is that it has about 250,00 people, of which somewhere around 141,00 are eligible voters.
It has 25 members elected to the Legislative assembly.
Thats 1 polly for every 5,640 people.
NT electors should have little trouble having a personal one on one meeting with their reps.
ACT has the same number of members, but at over twice the population, its 12,047 electors per poly.
Tassie's 40 reps for their 389,310 electors have 9,732 electors per rep.
SA and WA are almost identical with 17,700 electors per rep.
Victoria, which has the highest number of politicians (216) outside the Feds comes next at 19,679
NSW comes in at 33,382 electors per poliie.
The highest state is Queensland with 35,548 electors per polly.
All of them pale into insignificance compared to our Federal parliament where the 16,635,280 electors have 227 reps and senators which comes in at 73,284 electors per polly.
That does not include the 563 local governments but don't list anywhere how many each council has, but assuming that they have an average if 7 councillors each (can't have an even number, to eliminate tied votes), theres another 4000 odd reps. And of course we are more than likely going to get an Indigenous parliament of some sort , maybe one for each state as well as federally.,
Who says we are over governed.
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Aug 23 2020, 12:06 PM


Group: Member
Posts: 2,816

Well, there have been some individuals and groups who have been saying for a while that we are about to enter a cooling phaze based on b a number of factors.
!. Milankovitch cycles. There are three milankovitch ccyles. There is the change in axial precession or wobble of the eaths axis of rotation around the sun which is a 26,000 year cycle.
The changes in the earths eccentricity or lack of roundness of the earths orbit around the sun. These are 100,000 year cycles.
Changes in the earths Obliquity or tilt of the earth in relation to the plane or orbit around the sun. Its a 41,000 year cycle. Over the last
2. Changes in the earths magnetic pole. In the last 100 years or so, earths magnetic pole has moved slowly closer to the earths true north, but over the past ten to 15 years this movement has accelerated to a significantly higher rate (these things are of course sluggish at the best of times when you consider the length of these cycles). On June 23rd this year there was a wave of magnetism that rippled through the earths magnetic field For more than 30 minutes the earths magnetic field oscillated like a sine wave.. Given that there were no solar storms around that are the usual causes of such disturbances, scientists belive it was an example of a pulsation continuous" wave.

3. The Hale cycle, the roughly 22 year cycle between the suns switching its magnetic poles. Solar cycle 24 was one of the weakest in over a hundred years, with solar cycle 23 weaker than solar cycle 22. This tapering may be an example of the 100 year Gleissberg cycle. (Jury still out on this one). There have been weak cycles at the turn of the 19th and 20th centuries, but with 100 year cycles you need at least a thousand years of measurments. The cycle observation was really only measured for the last 270 odd years, and with any accuracy for the last 160 years. And as as with so many of these cycle theories, no one has been able to come up with an idea as to what causes these cycles, assuming they do exist. It has been generally accepted that period of the cycles is around 22 years, but the amplitude of the wave has always been subject to competing theories. We just don't know what is causing the waxing and waning of the solar flares and solar storms that define the amplitude of the cycle. A paper published in 2006 HERE sucessfully predicted the period and amplitude of solar cycle 24, and has predicted that solar cycle 25 will be one of the largest measured in the past 160 years. Time will tell as to the accuracy. if it is a large one, it may go some way towards reinforcing the Gleissberg cycle.

The one thing about these cycles is that they occur on a massive scale, both in time and enregy effect. The adherents to purely man made climate change will discount the magnitude of the effects of these large scal purturbations. The climate skeptics will take the opposite view. Despite each side proclaiming the other side is denying science, none of them really know, and I suspect cam never know what are the true drivers of climate change.
The other problem of course is the total misunderstanding of so many participants in the debate with the distinction between correlation and causation. The classic example is the Maunder minimum and Dalton minimums that have a correlation with low sunspot activity. The question that is yet toi be answered with any conviction is the causation, that is the mechanism whereby the solar minima caused a global cooling event. There have been heaps of theories put up, but no proof. the Russians in particular are adheresnts to the solar minima cooling causation. i guess we are going to need another couple of thousand years of observations to see wherher there is causation or not.

There is just as much chance of the earth 's climate cooling as there is of it heating up. Or it may stay the same.
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Aug 22 2020, 08:16 PM


Group: Member
Posts: 2,816

Nah, everyones being screwed.
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Aug 22 2020, 06:34 PM


Group: Member
Posts: 2,816

The most salient thing we have learned about ourselves and our country from this pandemic is the that the biggest most problematic structure is the states.
We have known for years that each state has its own sets of regs which at worst have been irritating.
The ridiculous border closures, the screwed permit system, the stupid "blue zone" bubbles, the idea that a curfew is needed because somehow a virus is more virulent between 10 pm and 5.00 a.m..
Whole states going into lock down despite the fact that remote regions have no cases, inner city bureacrats with little knowledge of the rural requirements making distance regulations over the whole state.
Exemptions being made for an indigenous funeral that were disallalowed for non indigenous funerals.
Christian, buddist, jewish church services curtailed but an exemption given for the Muslim EId feast at the end of Ramadan.
Now it is blatantly obvious that the bullshit slogans about being in this together are just that , bullshit.
Premiers seeking to shore up their own positions at the expense of their fellow Australians.
Parliaments in every jurisdiction cancelled because those in power did want any form of scrutiny.
Farmers markets banned but supermarkets allowed to sell produce.No medical reasons, just bureacratic bungling of the highest order.
Limits on people travelling to and from Australia, but exemptions given to overseas students.
I could go on, but my spleen has been well and truly vented.

Mick

  Forum: Off Topic Chat

mullokintyre
Posted on: Aug 22 2020, 12:33 PM


Group: Member
Posts: 2,816

Geez Mork, don't ya know that facts are not allowed in this day and age??
its all about the vibe.'
the vibe says there are food shortages, so there must be food shortages.
Mick (with his srcastic hat on).
  Forum: Investment Discussion

mullokintyre
Posted on: Aug 21 2020, 03:34 PM


Group: Member
Posts: 2,816

Westpacs Bill Evans sees the AUD heading northwards against the USD.
he is predicting .75 by year end, and .80 during next year.
He sees the continuing strength of Iron ore as one of the mainstays.
Given that the AUD has already reached the EOY target the bank had set earlier, ya gotta wonder whether there is any credence in their predictions.
The lack of love for the USD is the only reason the AUD goes up.
There is nothing in our economy to warrant such love.
Mick
  Forum: Macro Factors

mullokintyre
Posted on: Aug 21 2020, 12:16 PM


Group: Member
Posts: 2,816

Well, so much for that strategy.
Up to 1.86 now.
Oh well, I have at least got some real profit, as distinct from a larger paper one!
Mick
  Forum: By Share Code

mullokintyre
Posted on: Aug 21 2020, 11:11 AM


Group: Member
Posts: 2,816

That chart suggests that if the pattern were to follow for silver, then silver has an even larger way to go.
Mick
  Forum: Macro Factors

mullokintyre
Posted on: Aug 21 2020, 10:19 AM


Group: Member
Posts: 2,816

HLS had a modest increase in revenue and NP.
Personally, I thought it might have done better in the PATh area, but I guess the imaging and non covid path area has been hit by so many closures of private hospitals and elective surgery.
Future looks promising now they have sold the old Primary health Care business.
Market seemed to approve, up 1% si far.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Aug 21 2020, 10:14 AM


Group: Member
Posts: 2,816

Had a small lot taken out at 1.60 in the open this morning.
Will look to be buying some back if it gets below 1.50.
mick
  Forum: By Share Code

mullokintyre
Posted on: Aug 20 2020, 04:19 PM


Group: Member
Posts: 2,816

there must be a lot of people keen to get into ASM, up to a new high of 1.565 today, closing fractionally below that figure.
May have to take some profits if this continues.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Aug 19 2020, 12:04 PM


Group: Member
Posts: 2,816

Perhaps less of a rocket, more like a penny bunger at the moment.
Up 12% today on some measly volume.
Maybe some drill results coming out soon, or more likely someone trying to hustle the SP.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Aug 19 2020, 10:09 AM


Group: Member
Posts: 2,816

produced another sample of a different REM from pilot plant.
Mr market seemd to like it, back up to 1.20
Now if only they could somehow get the major plant built in Dubbo.
Get the govt to subsidise a few hundred thousand solar panels next door to provide power, and all boxes would be ticked.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Aug 19 2020, 09:51 AM


Group: Member
Posts: 2,816

CSL, another solid but not spectacular result.
Revenue up 6%, NP up 10%.
One of the very stocks to even pay a dividend, much less increase it by 7%.
The new Broadmeadows plant should be fully operational for this fin year.
Will keep holding as along term investment.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Aug 19 2020, 09:47 AM


Group: Member
Posts: 2,816

Now that reporting has started in earnest, we van see just how much COVID 19 has affected business.
IVC would, one might think, be somewhat immune from this.
But, kinda surprisingly, actual deaths in OZ are down about 2% from the previous year.
Perhaps COVID was getting people before something else did.
There was also a big fall in prepaid funerals.
Guess this was not surprising.
Revenue was down 6%, as they couldn't have the big funereals, with no Limo's, expensive glossy booklets. or the nice banquets for the mourners.
But after a capital raising, debt is well down, and they look poised to resume bisiness as usual sometime in the future.
Paying a reduced dividend, but that is hardly surprising.
Will continue to hold as along term investment.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Aug 18 2020, 04:03 PM


Group: Member
Posts: 2,816

CSl amy be on the right track.
From Geneng news
QUOTE
SARS-CoV-2 has two main proteins that trigger humoral immune system responses. They are the spike (S) protein and the nucleocapsid (N) protein. The N protein is produced at significantly higher levels in the virus than the S protein is, but previous studies have shown that an immune response to the N protein does not provide protection against coronaviruses related to SARS-CoV-2.

Alter’s lab compared the immune responses from the recovered individuals to those of deceased patients. They found that those who had recovered exhibited a humoral immune response that responded mostly to S protein, while deceased individuals had a shift in immunodominance such that they had a stronger immune response to the N protein.

A team headed by Chu collected samples from a cohort of 22 hospitalized SARS-CoV-2 patients, 12 of whom recovered, and 10 of whom died.

This immunodominance shift could be detected by measuring five immune response markers: IgM and IgA1 responses to S protein and antibody-dependent complement deposit, IgM, and IgA2 response to N protein. Using these five markers, researchers were able to build a model that could correctly classify clinical samples as belonging to deceased or convalesced individuals.

In order to verify this model, another 40 clinical COVID-19 samples—20 from convalesced individuals and 20 from deceased patients—from a different hospital were evaluated. The results showed the same S protein to N protein shift in immunodominance in samples from the deceased individuals, compared with those from convalesced patients.

Importantly, in the samples analyzed, this immunodominance shift was more predictive of recovery or death than were demographic factors, such as age or sex. “Thus, a minimal set of SARS-CoV-2 humoral profiles, rather than demographic information, appear to significantly resolve individuals who later went on to die from those who recover,”….”

And fromNIH
QUOTE
The researchers screened hospitalized COVID-19 patients and chose five with the highest levels of neutralizing activity in their blood plasma. They then isolated immune cells from their blood called memory B cells. These cells, created during an infection, can last for years in the body and be quickly activated to produce antibodies when a virus or other microbe is encountered again.

The team isolated memory B cells specific to the coronavirus spike protein and used them to create 252 monoclonal antibodies in the lab. These antibodies were then screened for their ability to neutralize the virus.

The team identified 19 antibodies that potently neutralized SARS-CoV-2. Nine bound to the receptor binding domain (RBD), a vital part of the spike protein that allows the virus to dock onto human cells. Eight targeted a part of the upper spike protein called the N-terminal region. Two antibodies bound to other nearby regions. Previous studies have identified antibodies that target the RBD. This reveals a more diverse variety of antibodies than previously reported.

Using a technique called cryo-electron microscopy, or cryo-EM, the researchers gained insight into where the potent antibodies bound to the surface of the viral spike. This was the first publication showing the structure of a neutralizing antibody bound to the N-terminal region. The team also confirmed that one of the purified antibodies provided strong protection against SARS-CoV-2 infection in hamsters.

“These findings show which sites on the viral spike are most vulnerable,” Ho says. Based on these results, several of the monoclonal antibodies appear promising for further development, and the team is now planning additional studies in other animals and people.


The potential treatment being developed at Oxford , which CSL are attemting to license, does target the spike on the virus, so these studies suggest that they may be more effective.
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Aug 18 2020, 09:40 AM


Group: Member
Posts: 2,816

In another first for blockchain technology, the US Postal Serice h\earlier this year filed a patent application that uses blockchain tehcnology to provide bsecurity in a postal ballot system.
From The Twittersphere

QUOTE
The "United States Postal Service" is listed as the applicant on the application.

"Voters generally wish to be able to vote for elected officials or on other issues in a manner that is convenient and secure," the application says. "Further, those holding elections wish to be able to ensure that election results have not been tampered with and that the results actually correspond to the votes that were cast. In some embodiments, a blockchain allows the tracking of the various types of necessary data in a way that is secure and allows others to easily confirm that data has not been altered."

Equally as interesting as the patent itself is the fact that the application was filed before the coronavirus had wreaked total havoc on the country and long before the idea of mail in voting was being tossed around by pundits and the mainstream media on the daily.


be interesting to see how that one turns out!.
mick
  Forum: Investment Discussion

mullokintyre
Posted on: Aug 18 2020, 07:25 AM


Group: Member
Posts: 2,816

Yo EB, If you are up to a bit of heavy reading, have a look at this article on bitcoin Here
As in any computer system, scalabilty is the key constraint.
Mick
  Forum: Investment Discussion

mullokintyre
Posted on: Aug 18 2020, 07:22 AM


Group: Member
Posts: 2,816

Hate to disappoint you EB, but there is no reason why CB's won't keep digitally printing Virtual Currencies, just like they do now.
There is no reason as to why there should be an upper theoretical or physical limit on the block chain technology.
The creator(s) of bitcoin, which is but one example of the use of blockchain , put a physical limit on it, but there is no reason that a new digital currency has to have that limit..
The biggest issue is going to be capacity.
For the blockchain technology to work safely and securely, there has to be a vast network of distributed computers to verify and store copies of the blockchain.
As the Blockchain technology is reliant on not being allowed to alter a blockchain unless a minimum of 51% of the computers storing the blockchain are in agreement, a secure system needs millions of computers.
As the number of transactions increase in real time, this level of computing power will increase exponentially.
Eventually, it will consume all the available electricity in the world!.
And of course there are always the hackers.Trying to get the magical 51% to agree to a change is a challenge for hackers that is just too good to pass up.
There is a group of hackers called the "51 crew" who spend their time trying to do just that.
For them to succeed needs control of 51% of the computers in the network. More computing power and electrons wasted.
Mick
  Forum: Investment Discussion

mullokintyre
Posted on: Aug 17 2020, 04:36 PM


Group: Member
Posts: 2,816

Gold and silver both up in later day rallies.
Big question is, what will the commercials do with their paper trades tonite??
Mick
  Forum: Macro Factors

mullokintyre
Posted on: Aug 17 2020, 03:40 PM


Group: Member
Posts: 2,816

You are being unfair EB,
I hat ALL the big Commercial Banks, including Australia's darlings.
Hoping TLS will go below 3 bucks.
Have had some buys in at around 2.97 for a while, they are slowly getting closer/
And yes, thinking of a long term place to park some cash.

Mick
  Forum: By Share Code

mullokintyre
Posted on: Aug 17 2020, 01:59 PM


Group: Member
Posts: 2,816

What?

QUOTE
At the current share price, the broker says its dividend forecast implies a yield of 4.2 per cent, which is "not overly compelling".


And getting 0.1% with the banks is compelling??
My BS meter just went off the scale.
Mick (in an antagonistic mood today!!).
  Forum: By Share Code

mullokintyre
Posted on: Aug 17 2020, 01:18 PM


Group: Member
Posts: 2,816

If there is anyone left who thinks that all the restrictions laws, regilations., emergency measures, state of emergency, etc etc are anything more than political bullshitbrather than health issues need look no further than the hippocarcy fro the SA govt.
From ABC NEWS
quote]Health authorities are defending a decision to allow 300 international students to enter South Australia, amid accusations of double standards from members of Victorian border communities and Adelaide residents with family stuck overseas.

Key points:
SA will allow 300 international students in as part of a trial
Health officials say they pose little coronavirus risk to South Australia
Victorian border communities have expressed dismay at being locked out of SA
South Australia will become the first state in the country to welcome flight arrivals of international students as part of a trial, announced on Sunday.

SA Health said the trial was necessary to help revive the SA economy and the students posed little risk of coronavirus transmission.

The international students will go into mandatory hotel quarantine for two weeks before they start their studies.

Deputy Chief Public Health Officer Dr Mike Cusack said the international students posed little risk of coronavirus transmission in South Australia — especially since they will quarantine in medi-hotels

But the policy has prompted a backlash from members of Victorian border communities, locked out of South Australia except for essential travel, and from South Australians with family members who have been unable to get back into the state from overseas.[/quote]
I don't think it needs any further comment.
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Aug 17 2020, 11:13 AM


Group: Member
Posts: 2,816

looks like Russia has taken a leaf out o the Trump slogan book.
Make USSR great again.
They got away with seizing Crimea with little fuss.
No reason why they can't bring Belarus back to the fold.
Its already got half its name in line with Russia.
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Aug 17 2020, 11:09 AM


Group: Member
Posts: 2,816

yeah, but apart from that he's a great bloke!
mick
  Forum: Investment Discussion

mullokintyre
Posted on: Aug 17 2020, 09:11 AM


Group: Member
Posts: 2,816

Whats more important, is that by postponing the election by a month, she gets an extra months salary as PM, rather than the possibility of a lesser salary as a former PM.
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Aug 16 2020, 01:32 PM


Group: Member
Posts: 2,816

From Zero hedge


QUOTE
China's Commerce Ministry released new details Friday of a pilot program for the country's central bank digital currency (CBDC) to be expanded to several metropolitan areas, including Guangdong-Hong Kong-Macao Greater Bay Area, Beijing-Tianjin-Hebei region, and Yangtze River Delta region.

The Commerce Ministry is currently running pilot tests in four cities: Xiong'an New Area, Shenzhen, Suzhou, and Chengdu. The People's Bank of China (PBoC), the country's central bank, is supervising the rollout of the CBDC pilot program on a city by city basis.

China's CBDC is also known as a digital currency electronic payment (DCEP) and could become the first national digital currency. In April, the PBoC tested DCEP among government workers in Suzhou. Major state banks have also been administering large scale tests of digital wallets designed for a digital currency, or as the world will eventually find out: the digital yuan.Beijing owned China Global Television Network (CGTN) said test subjects would be able to "withdraw money, make payments, and transfer money after registering with their mobile phone number. The banks are also testing a scenario where users can transfer money without the internet."

Last week, the PBoC said it would "actively and steadily promote the research and development of the state digital currency" during the second half of the year.

The Commerce Ministry provided no details on when the extended pilot programs would begin. The ministry said the policy design of the digital currency would be achieved by the end of the year.

As for CBDCs, Steven Guinness, an independent UK economic and geopolitical analyst, provides his take on the subject:
The ideological agenda of central banks to digitise the entirety of the world's financial system and to maintain their power base is being spearheaded by the Bank for International Settlements through their Innovation Hub. Unless people begin to recognise where the manipulation and growth in the CBDC narrative is coming from, and how there is a targeted agenda to guide the world into a cashless society, global planners will in the years to come get their way," Guinness said.

Under the guise of a virus pandemic, the push to digitize money is quickly emerging.


One of the great things about being a control and command central autocracy is that it can bring in these sorts of social and financial changes (or experiments), without any opposition, whether it is warranted or not.

Mick
  Forum: Investment Discussion

mullokintyre
Posted on: Aug 15 2020, 11:19 PM


Group: Member
Posts: 2,816

Has the Oracle of Amaha just ditched the American Financial System>>
From Zero hedge

QUOTE
Berkshire Hathaway's latest 13F just dropped and contained inside is a signal that none other than the Oracle Of Omaha appears to now be quietly betting against The United States.

Why? Because for years - in fact for as long we can remember - Warren Buffet has denigrated gold:

In a speech delivered at Harvard in 1998, Buffett said“(Gold) gets dug out of the ground in Africa, or someplace. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility. Anyone watching from Mars would be scratching their head.”

He once famously said:

“Gold is a way of going long on fear, and it has been a pretty good way of going long on fear from time to time. But you really have to hope people become more afraid in a year or two years than they are now. And if they become more afraid you make money, if they become less afraid you lose money, but the gold itself doesn’t produce anything.”

In his 2011 letter, Buffett noted that for $9.6 trillion you could buy "pile a" — all of the gold in the world, or "pile b" — the entire US cropland (400 million acres) plus 16 ExxonMobils and still have another $1 trillion left over.

"Admittedly, when people a century from now are fearful, it's likely many will still rush to gold," he wrote. "I'm confident, however, that the $9.6 trillion current valuation of pile A will compound over the century at a rate far inferior to that achieved by pile B."


In 2013, Buffett even went so far as to mock investors betting on gold, saying that there were better places to put your money.

All of which makes the following even more stunning...

According to the latest 13F, Howard Buffett's Berkshire Hathaway not only dumped all his airlines - as we learned previously 0 but has also liquidated huge amounts of its exposure to US banks (exiting Goldman Sachs entirely).

Berkshire's JPMorgan Stake Down 62% to 22.2M Shrs
Berkshire's Wells Fargo Stake Down 26% to 238M Shrs
Berkshire trimmed its bet on PNC Financial and M&T Bank as well as Bank of New York Mellon Corp., Mastercard, and Visa.
Berkshire Exits Goldman stake entirely
And while he modestly added to his positions in Kroger, Store Cap and Suncor Energy, the only new stock he bought in Q2 was... the world's (formerly biggest) gold miner:

Berkshire took a new stake (20.9 million shares) in Barrick Gold, a holding that was valued at about $564 million at the end of that period.

I am not sure what is the most stunning: The purchasing of gold stocks or the dumping of the financial stocks.
As someone famous once said, if you want the truth, follow the money.
Mick
  Forum: Investment Discussion

mullokintyre
Posted on: Aug 15 2020, 09:37 AM


Group: Member
Posts: 2,816

My ole Mat Chuck Butler had this to say in his newsletter yesterday
QUOTE
The Kitco.com website has an interesting chart each day, they show what the price of Gold that was affected by the dollar trading, and then they show the amount of movement that was affected by "sellers"... Yesterday, the move in Gold that was caused by dollar strength, was $1.00... That alone should tell you that the boys in the band backed up their truck full-o-short trades, and unloaded them.... 575,000 contracts were traded in Gold yesterday... That's unbelievable to me... But then when the boys in the band want to take something down, they don't mess around!

The total damage done to Gold at the close of the day, was $117.90!!!! Leaving Gold at $1,910.... The good news is that maybe the boys in the band used up all their bullets yesterday, as Gold is up $25 in the early trading today...

And Silver was treated as badly as Gold, but Silver's loss of around $4.00 was a larger percentage downward move. And Silver closed at $24.76, with around 350,000 total contracts traded...

And during all this engineered takedown of both Gold & Silver, there was not a peep from the CFTC, or the COMEX, or any other entity that should have been saying things like, "we're going to investigate how this happened"... So, as Ed Steer said in his letter today, "a pox on them all"...


And therein lies the problem.
The massively large commercial banks have been screwing the system for years and not only getting away with it, but seemingly with the conivance of the regulators.

From wall street on parade


QUOTE
On January 31 of this year, researchers for the Federal Reserve released a study that showed that the largest banks operating in the U.S. have been gaming their stress test results by intentionally dropping their exposure to over-the-counter derivatives in the fourth quarter. The fourth quarter data is the information used by the Federal Reserve to determine surcharges on capital for Global Systemically Important Banks, or G-SIBs.

The report, “How Do U.S. Global Systemically Important Banks Lower Their Capital Surcharges?,” was written by Jared Berry, Akber Khan, and Marcelo Rezende.

We decided to evaluate this claim for ourselves, using the quarterly derivative reports provided by the Office of the Comptroller of the Currency (OCC), the regulator of national banks. The data was appalling. The largest Wall Street banks not only dropped their level of derivatives by trillions of dollars in the fourth quarter, but they restored those derivatives by the end of the following first quarter. (See first OCC chart below which shows the largest of the top 25 banks by derivative exposure.)
On May 30, with little mainstream media attention, four European academics published a report on how some of the largest Wall Street banks (all of whom received massive amounts of secret Federal Reserve bailout money during the 2007 to 2010 financial crash) were shamelessly gaming the system again.

Rather than complying with the derivatives regulations imposed under the Dodd-Frank financial reform legislation of 2010, the Wall Street mega banks had simply moved much of their interest rate derivatives trading to their foreign subsidiaries that fall outside of U.S. regulatory reach. This is known as regulatory arbitrage: seeking the most lightly regulated jurisdiction to ply your dangerous trading activity. (Think JPMorgan’s London Whale fiasco.)

While the political pundits are putting out acres of bullshit partisan pieces about the evils of trump or the lunacies of biden/harris, the fundamental parts of the American and possibly the worlds financial systems are being systemically screwed. All so some already obscenely rich people can become even more obscenely rich.
Mick
  Forum: Macro Factors

mullokintyre
Posted on: Aug 13 2020, 04:59 PM


Group: Member
Posts: 2,816

Well that was sudden.
My congrats to the moderators who changed the moniker pretty quick smart!
Mick
  Forum: By Share Code

mullokintyre
Posted on: Aug 13 2020, 01:13 PM


Group: Member
Posts: 2,816

Don't know what happened to the previous owner of this moniker (maybe got litigated to death??), but now HLS , Healius p/l, is the new moniker for the old Primary Health care.
I was keen on getting my hands on some pathology stocks, but my preferred path LAB, Melbourne Pathology Services, is all privately owned.
Sonic Health is the biggest provider of pathology, but its share price has gone well ahead of HLS.
Not sure why, maybe its just better known.
Healius owns dorovitch pathology, another big one, so have bought into it.
Does anyone on sharescene have any other path stocks they favour??
Mick
  Forum: By Share Code

mullokintyre
Posted on: Aug 13 2020, 10:58 AM


Group: Member
Posts: 2,816

Yeah, I agree Eb, bought a few this morning .
Down over 20% since its recent high.
Can't see TLS going broke any time soon.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Aug 13 2020, 10:55 AM


Group: Member
Posts: 2,816

The las of unintended consequences.
FROM The OZ
QUOTE
University students who fail more than half of their first-year subjects will lose government funding, as part of the Morrison government’s radical overhaul of higher education fees.
The Job Ready Graduates reforms – which are already under threat from Nationals MPs who want major changes – would see students lose their HECS-HELP support if they fail more than 50 per cent of their first eight university units.

Education Minister Dan Tehan said the new cap on HELP subsidies would ensure universities determine how academically suitable a student is throughout their degree, and not just after they leave Year 12.“We have found cases where students with the highest levels of debt have been

continuously enrolled at multiple providers at the same time, resulting in debts ranging from

$220,000 up to $660,000 combined with very low pass rates – on average these students

have passed just one in every five subjects they have attempted.”


I am going to bet that the University response will be is to dumb down the courses and exams so everyone will pass.
Is that what Tehan had in mind??

Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Aug 13 2020, 10:31 AM


Group: Member
Posts: 2,816

ARD up 20 this morning.
In a falling PM market, just after a cap raising, something a little fishy here.
There must be something up (apart from the share price).
Might hve to take some profits here.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Aug 13 2020, 10:19 AM


Group: Member
Posts: 2,816

EVN put out another solid return today.
QUOTE
Statutory net profit after tax increased 38% to a record A$301.6 million (FY19: A$218.2 million)
▪ Underlying net profit after tax increased 86% to a record A$405.4 million (FY19: A$218.2 million)
▪ EBITDA increased 41% to a record A$1,029.4 million (FY19: A$730.3 million)
▪ Gold production of 746,463 ounces (FY19: 753,001 ounces)
▪ AISC1 of A$1,043 per ounce (US$700/oz)2 – among the lowest cost gold producers in the world
▪ Operating mine cash flow increased 45% to a record A$1,121.4 million (FY19: A$771.5 million)
▪ Net mine cash flow increased 48% to a record A$736.0 million (FY19: A$497.8 million)
▪ Group free cash flow increased 86% to a record A$541.8 million (FY19: A$291.6 million)
▪ Net bank debt of A$197.4 million at 30 June 2020 (cash A$372.6 million; bank debt A$570.0 million)
Final fully franked dividend of 9 cents per share declared, based on Evolution’s dividend policy of a
payout ratio targeting 50% of free cash flow, resulting in a distribution to shareholders of A$153.4 milli



And its only going to get better according to forecasts (can we trust them??)/
QUOTE
Group gold production and cost outlook:
▪ FY21: 670,000 – 730,000 ounces at an AISC of A$1,240 – A$1,300 per ounce
▪ FY22: 700,000 – 770,000 ounces at an AISC of A$1,220 – A$1,280 per ounce
▪ FY23: 790,000 – 850,000 ounces at an AISC of A$1,125 – A$1,185 per ounce


I suspect my other goldies (RMS, SBM, ALK) will have similar positive results.

Mick
  Forum: By Share Code

mullokintyre
Posted on: Aug 12 2020, 12:11 PM


Group: Member
Posts: 2,816

From ZERO Hedge
QUOTE
There are only so many "positive news" levers a company can pull in the absence of consistently turning a legitimate profit: stacking up receivables, releasing and taking deposits for "new" products that may not ever materialize, pulling borrow and securing the float while mysterious out of the money call option purchases go off daily, selling regulatory credits to claim profitability while your core auto selling business loses money and adjusting warranty reserves to gear your accounting are a few examples.

This box of tricks, inclusive of most everything aside from just being a consistently profitable company, includes very few tactics that Tesla hasn't tapped. But today, the company pulled one more rabbit out of their hat with the announcement of a 5-for-1 stock split.
And to prove the market has reached hysteria, Tesla's market cap is up by about $16 billion after hours. A stock split, of course, does nothing to add equity or value to a company - instead, it just multiplies the number of shares outstanding and divides the company up into smaller parts.


Perhaps a few others, such as Apple, Alphabet, facebook etc could take a leaf out of teslas book.
Mick
  Forum: Investment Discussion

mullokintyre
Posted on: Aug 12 2020, 12:05 PM


Group: Member
Posts: 2,816

An interesting aside about Trump and gun sales.
From Zero Hedge

QUOTE
The virus pandemic triggered a socio-economic bomb across major US metro areas resulting in one of the largest panic hoardings of guns and ammo by fearful consumers in quite some time, if not ever.

Gregory Ionadi, 75, the owner of gun shop Smoke N' Guns, located in Oakmont, Pennsylvania, told PJ Media:

"Prior to the COVID outbreak, President Obama was the best gun salesman we ever had," said Ionadi. "Anytime he was going to ban this, ban that, there was a rush on gun sales. When President Trump was elected, the fear of a gun ban subsided, and sales were so flat that several gun manufacturers went out of business."

Ionadi said sales at his gun shop erupted during the pandemic. He said he made more gun and ammo sales from March to April than what was done in the last three years, calling the period absolutely "crazy."

He said once the social unrest spread across the country by late May into early summer, the second round of panic buying occurred.

"You wouldn't believe the first-time gun buyers I've seen," said Ionadi. "I started seeing little old ladies — 70, 80 years old — wanting to defend themselves because of what was going on. So, I had to change my thinking. I had to start buying .22 Magnum revolvers. I have some revolvers here, but I had to start buying revolvers that women and older folks could use because they are easy to handle. Semi-auto and a revolver are two different things."

Gun stocks soared this summer as gun background checks rose 79% in July year-over-year.


Mick

  Forum: Off Topic Chat

mullokintyre
Posted on: Aug 12 2020, 12:01 PM


Group: Member
Posts: 2,816

Sounds good, though you will have to set up a rival organisation to Go Fund me.
They can be a little arbitrary in their choices as to who is allowed to use their site.
Perhaps that might be the secret,
Instead of getting people to donate to your cause, be the medium to allow others to donate, and just skim 10% off the top for "Administrative Purposes:" just like go fund me.
And then you can copy their rule that says if the target amount is not reached, the entiity runnng the show gets to keep all the money with no refunds.
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Aug 12 2020, 11:28 AM


Group: Member
Posts: 2,816

Was reading something about New Zealand four new cases in "The Guardian Australia.
it didn't provide me with anything new, but what did take my eye was a notice at the bottom of the page.

QUOTE
Every contribution, however big or small, is so valuable for our future. Support the Guardian from as little as $1 – and it only takes a minute. Thank you.

You can click onto a page that has e-commerce failities to make a contribution to the Gaurdian with these words
QUOTE
Support our journalism with a contribution of any size
Your support helps protect the Guardian’s independence and it means we can keep delivering quality journalism that’s open for everyone around the world. Every contribution, however big or small, is so valuable for our future.

Make a contribution
How often would you like to contribute?
Frequency


Single

Monthly

Annual
How much would you like to give?
Amount


$10

$25

$50

Other
Contributing $25 works out as $5.77 each week

Your details
Email address
example@domain.com
First name


I find this really quite surprising. Why would a commercial organisation seek to get donations.
I checked the ownership of The Gaurdian Australia.
The Guardian Australia is owned by Guardian News and Media (GNM).
GNM is owned by Guardian Media Group (GMG), which is in turn owned by the Scott Trust Limited, a limited company which according to its blurbs, aims to ensure the editorial independence of its publications and websites.
But Scott Trust limited is not a trust, it is a limited liability company. it is not a charitable trust as I first thought.
Mick


  Forum: Off Topic Chat

mullokintyre
Posted on: Aug 12 2020, 10:10 AM


Group: Member
Posts: 2,816

And right on cue, a heavily oversubscribed cap raising to the sophisticates and other mates at 0.055.
And they get a 1 for 2 option at a strike price of 0.05.
10% less than the SPP. Wish i could be more sophisticated and get in on the game.
But they regret committing now that the overnight price crash has seen most goldies come off by 10-15% this morning.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Aug 12 2020, 09:54 AM


Group: Member
Posts: 2,816

And the crunching continued.
Silver down by 4 bucks, gold down over a hundred plus change.
Fundamentally nothing changed, just the sentiment.
Hope it stays down for while to shake out the chickens, then it will be time to get back in.
Mick
  Forum: Macro Factors

mullokintyre
Posted on: Aug 12 2020, 09:52 AM


Group: Member
Posts: 2,816

QUOTE
Code for, get an app on your phone to show your every movement, including bowel, and then you will be safe.

Agh, at last a worthy contribution.
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Aug 12 2020, 09:50 AM


Group: Member
Posts: 2,816

As I have said in the past, I have have genrally regarded the POTUS as a figurehead.The establishment power brokers are the ones who really control what happens in the US.
The various govt heads, spokespersons etc, are mere useful tools for the elites in the us to fashion things to their liking.
The only thing I can take from this is that Ms Harris is most likely to become the first female president, and the first black female president as well.
I would be surprised if Joe Biden lasts one full term before the geriatric diseases he obviously has will cause him to be removed.
Stephen Looseley in the mornings OZ has an article that suggests that trump will not contest the election.
Seems a little far fetched, but with an ego the size of his, the thought of losing to a geriatric has been would destroy him.
It would not surprise me to see Trump pull out.
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Aug 11 2020, 07:46 PM


Group: Member
Posts: 2,816

Gold and silver both crunched today,
might be time for a breather and a little consolidation.
be interesting to see what happens after the Northern Hemisphere opens up 2 nite.
Mick
  Forum: Macro Factors

mullokintyre
Posted on: Aug 11 2020, 07:44 PM


Group: Member
Posts: 2,816

Tesla is taking a ponding in Europe.
FromWolf Street

QUOTE
Tesla’s share of the EV market plunged to 8.7% year-to-date, from 18.4% last year. Competition is now huge and across the spectrum. Tesla faces the same situation globally.It has been a very ugly year in Germany for auto sales, except for EVs. The overall new vehicle market in Germany has plunged by 30% in the first seven months of 2020 to 1.526 million units. But EV sales have skyrocket by 65% over the first seven months, after having already skyrocketed by 88% in the same period in 2019, according to KBA, the German agency that handles nationwide new-vehicle registrations. Year-to-date, 61,105 EVs were sold, giving EVs a share of 4% of total new vehicle sales, up from less than 1% just two years ago in 2018.

But Tesla got crushed. Its sales over the seven-month period fell from 6,816 in 2019 through July, to 5,306 over the same period in 2020, and its share in the EV market plunged from 18.4% to 8.7%.

There are now three automakers that blew past it in Germany – Volkswagen Group, Renault, and Hyundai Group – while Daimler Group came in even with Tesla, and BMW group wasn’t far behind. This chart shows market share of each automaker, with all their EV brands and models combined:

Volkswagons share at 38% dwarfs all others.
Renault and Hyundai both outstripped tesla.
BmW is neck and neck with Tesla.
All of the above are experienced automakers, sellers, and repairers.
tesla has a little catching up to do.
And of course, so does ideanomics.

Mick
  Forum: Investment Discussion

mullokintyre
Posted on: Aug 11 2020, 12:07 PM


Group: Member
Posts: 2,816

My middle name is skeptic.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Aug 11 2020, 09:26 AM


Group: Member
Posts: 2,816

Hmmmmm
QUOTE
Houston We Have [has] the ability to identify the likelihood and certainty of future outcomes ... without ambiguity.


Yeah right.

Mick
  Forum: By Share Code

mullokintyre
Posted on: Aug 10 2020, 10:13 AM


Group: Member
Posts: 2,816

ARD in Trading halt.
Must be time for a cap raising.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Aug 10 2020, 09:45 AM


Group: Member
Posts: 2,816

At the risk of being shot down as a (fill in the blank), I have been reading an article about HCQ where they analysed the results of all the countries that used HCQ as a treatment for COVID.
I am not advocating the use of HCQ, merely highlighting some research that does not seem to have had much publicity, compared to some others.
I would urge readers to have more than a passing glimpse at the report before passing judgement.
Here is their summary from HCQ Trial

QUOTE
Many countries either adopted or declined early treatment with HCQ, forming a large country-randomized controlled trial with 2.0 billion people in the treatment group and 663 million in the control group. As of August 8, 2020, an average of 39.6/million in the treatment group have died, and 443.7/million in the control group, relative risk 0.089. After adjustments, treatment and control deaths become 82.0/million and 637.0/million, relative risk 0.13. Confounding factors affect this estimate, including varying degrees of spread between countries. Accounting for predicted changes in spread, we estimate a relative risk of 0.21. The treatment group has a 79.1% lower death rate. We examined diabetes, obesity, hypertension, life expectancy, population density, urbanization, testing level, and intervention level, which do not account for the effect observed.
Treatment. We investigate early or prophylactic treatment for COVID-19 with hydroxychloroquine (HCQ), which has been adopted or declined in different countries. Since the severity of COVID-19 varies widely based on age and comorbidities, treatment was generally only initiated in higher risk individuals. The primary endpoint was death.
Treatment groups. Entire countries made different decisions regarding treatment with HCQ, essentially assigning themself to the treatment or control group. For the purposes of this study, selection into the treatment or control group was based on the same information and is essentially random.
We focus here on countries that chose and maintained a clear assignment to one of the groups for a majority of the duration of their outbreak, either adopting widespread use, or highly limiting use. Some countries have very mixed usage, and some countries have joined or left the treatment group during their outbreak. We searched government web sites, Twitter, and Google, with the assistance of several experts in HCQ usage, to confirm assignment to the treatment or control group, locating a total of 193 relevant references, shown in Appendix 12. We excluded countries with <1M population, and countries with <0.5% of people over the age of 80. COVID-19 disproportionately affects older people and the age based adjustments are less reliable when there are very few people in the high-risk age groups. We also excluded countries that adopted early widespread use of masks because these countries tend to have significantly lower spread, which we discuss in detail below.
Collectively the countries we identified with stable and relatively clear assignments account for 34.7% of the world population (2.7B of 7.8B). Details of the groups and evidence, including countries identified as having mixed use of HCQ, can be found in Appendix 12.
Analysis. We analyze deaths per capita with data from [Our World in Data]. To determine the effectiveness of treatment we could compare the death rates for the entire populations in the treatment and control groups, however we use the average of the individual country rates in each group in order to minimize effects due to differences between countries.
Since randomization was done at a coarse country level, we adjust for differences between countries and analyze confounding factors. We analyze deaths rather than cases because case numbers are highly dependent on the degree of testing effort, criteria for testing, the accuracy and availability of tests, accuracy of reporting, and because there is very high variability in case severity, including a high percentage of asymptomatic cases.


This was not a predetermined clinical trial, it merely analysed the data that was available, but there were a lot of patients to analyse , about 2 billion.
The critical part is that those countries who gave the treatment early in the life cycle of the patients illness, were the ones that fared best.

What it does not show of course is the side effects of HCQ.
My wife, who is a pharmacist, was outlining some of the unpleasant side effects that have made HCQ unsuitable, or even deadly for some people.
HCQ affects the white T- cells, so patients such as those on it for Rhematoid arthritis etc have to have their bloods monitored frequently.
Not sure if these countries had follow up bloods monitoring.
We may yet find that the long term side effects may be quite debillitating.
But I guess the side affects are probably slightly better outcome than dying.
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Aug 10 2020, 09:18 AM


Group: Member
Posts: 2,816

According to Science Daily
From the "There has to be something good come out of the pandemic" department, heresa nother one.
QUOTE
The lack of human activity during lockdown caused human-linked vibrations in the Earth to drop by an average of 50% between March and May 2020.

This quiet period, likely caused by the total global effect of social distancing measures, closure of services and industry, and drops in tourism and travel, is the longest and most pronounced quiet period of seismic noise in recorded history.

The new research, led by the Royal Observatory of Belgium and five other institutions around the world including Imperial College London, showed that the dampening of 'seismic noise' caused by humans was more pronounced in more densely populated areas.

The relative quietness allowed researchers to listen in to previously concealed earthquake signals, and could help us differentiate between human and natural seismic noise more clearly than ever before.

Co-author Dr Stephen Hicks, from Imperial's Department of Earth Science and Engineering, said: "This quiet period is likely the longest and largest dampening of human-caused seismic noise since we started monitoring the Earth in detail using vast monitoring networks of seismometers.

"Our study uniquely highlights just how much human activities impact the solid Earth, and could let us see more clearly than ever what differentiates human and natural noise."

The paper is published today in Science.


Would have gone up a bit this weekend, helped one of my kids shift house. Lots of banging and crashing.

Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Aug 9 2020, 11:58 AM


Group: Member
Posts: 2,816

From our local newspaper



QUOTE
“Previously we were producing pellets containing 200 to 300 masks,” he said
.

They must just add water to the pellet to make them full size.
They are then loaded onto Pallets for distribution.
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Aug 9 2020, 10:58 AM


Group: Member
Posts: 2,816

How could things possible get any worse??Here I am stuck at home in stage 3 COVID lockdown, and even if I wasn't in lockdown, ts the winter, so its cold, we and miserable outside.
So what happens?
No 1. The gas central heating control unit has a spanner symbol on it, it needs maintenance. Fixeruppers can't get a bloke here till next Tuesday. Its down to 10 degrees inside the house.
No2. our NBN phone/internet connection has died. After spending a frustrating 45 minutes waiting for Telstra to get back to me, then spending another twenty doing all the troubleshooting tests (that I had already done), they say that they MIGHT get a fixerupper bloke out here on Thursday.
Hot spotting to a mobile phone just doesn't cut it when you have multiple devices.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Aug 8 2020, 01:06 PM


Group: Member
Posts: 2,816

From AP News

QUOTE
MOSCOW (AP) — Russia will perceive any ballistic missile launched at its territory as a nuclear attack that warrants a nuclear retaliation, the military warned in an article published Friday.

The harsh warning in the official military newspaper Krasnaya Zvezda (Red Star) is directed at the United States, which has worked to develop long-range non-nuclear weapons.

The article follows the publication in June of Russia’s nuclear deterrent policy that envisages the use of atomic weapons in response to what could be a conventional strike targeting the nation’s critical government and military infrastructure.In the Krasnaya Zvezda article, senior officers of the Russian military’s General Staff, Maj.-Gen. Andrei Sterlin and Col. Alexander Khryapin, noted that there will be no way to determine if an incoming ballistic missile is fitted with a nuclear or a conventional warhead, and so the military will see it as a nuclear attack.

“Any attacking missile will be perceived as carrying a nuclear warhead,” the article said. “The information about the missile launch will be automatically relayed to the Russian military-political leadership, which will determine the scope of retaliatory action by nuclear forces depending on the evolving situation.”

The argument reflects Russia’s longtime concerns about the development of weapons that could give Washington the capability to knock out key military assets and government facilities without resorting to atomic weapons.

In line with Russian military doctrine, the new nuclear deterrent policy reaffirmed that the country could use nuclear weapons in response to a nuclear attack or an aggression involving conventional weapons that “threatens the very existence of the state.”

The policy document offered a detailed description of situations that could trigger the use of nuclear weapons, including the use of nuclear weapons or other weapons of mass destruction against Russia or its allies.

In addition to that, the document states for the first time that Russia could use its nuclear arsenal if it receives “reliable information” about the launch of ballistic missiles targeting its territory or its allies and also in the case of ”enemy impact on critically important government or military facilities of the Russian Federation, the incapacitation of which could result in the failure of retaliatory action of nuclear forces.”


It never ceases to amaze me how narrow is the scan of news in Australia.
This particular piece of news, assuming it is true, will have a profound effect on the world.
but I doubt it will get a mention in anything except the defence journals.

Now that should bring the doomsday clock a little closer.
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Aug 8 2020, 08:32 AM


Group: Member
Posts: 2,816

How about you two little boys go outside and sort this out in the sandpit.
  Forum: Investment Discussion

mullokintyre
Posted on: Aug 7 2020, 03:45 PM


Group: Member
Posts: 2,816

From Millenial
QUOTE
A video of a worship service happening inside a Walmart, reportedly in North Versailles, Pennsylvania, has the internet chirping. The churchgoers took to Walmart to come together in worship, as churches have been closed, but Walmarts are open.
The video was recorded by Nancy Halford and posted to her Facebook page, where it has been viewed over 1.1 million times.
It was on April 3 that Pennsylvania Governor Tom Wolf asked religious leaders in that state to "consider alternate forms of worship" as a result of the coronavirus. Wolf said "Religious leaders are encouraged to find alternatives to in-person gatherings and to avoid endangering their congregants. Individuals should not gather in religious buildings or homes for services or celebrations until the stay-at-home order is lifted."


Well, they took the govenor at his word.
Could well catch on here.
Scomo, being an adherent of the Hillsong Revivalist church would i am sure be happy to attend a service at Bunnings, or even better still, at half time in one the NRL matches he seems to like to attend.

Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Aug 7 2020, 12:00 PM


Group: Member
Posts: 2,816

Up another 12% today.
Whats your exit strategy BG??
Mick
  Forum: By Share Code

mullokintyre
Posted on: Aug 7 2020, 10:16 AM


Group: Member
Posts: 2,816

Not a bad idea.
pity Sanders never got the nod over the geriatric.
Geez, wtalk about hobsons choice.
An egotistical loony versus an 84 year old with degenerative brain function. Great.
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Aug 6 2020, 05:24 PM


Group: Member
Posts: 2,816

Nah, not into drugs.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Aug 6 2020, 02:16 PM


Group: Member
Posts: 2,816

Like I said yester Nip, you have become a guru.
Those other 80,000 odd sharescene members (the silent majority we keep hearing about???), are just hanging out for your next gem.
Soon as they see you post, wham they are off to their commsec account to hoover them up.
You have become a market maker. cool.gif
Mick
  Forum: By Share Code

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