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mullokintyre
Posted on: Yesterday, 03:30 PM


Group: Member
Posts: 2,498

NABTRADE broken again.
They are really starting to piss me off.
Sigh,
Mick
  Forum: Investment Discussion

mullokintyre
Posted on: Yesterday, 03:18 PM


Group: Member
Posts: 2,498

Yeah,its probably not a great investment, and probably not practical.
But sometimes you just have to do things for the sake of doing them.
The 1952 landrover I have is in need of some love, affection and money.
The motor and possibly the gear box need rebuilding, and all the running gear will need to be replaced, but, hey, its better than passing it across some publicans bar!
Mick
  Forum: Investment Discussion

mullokintyre
Posted on: Yesterday, 11:10 AM


Group: Member
Posts: 2,498

I have just about lost all faith in the legal system.

From ABC NEWS


[quote]A police officer who bashed his ex-partner in front of her son and pleaded guilty to family violence order breaches has been spared jail, after Victoria's County Court overturned a three-month prison term handed down this year.

Key points:
The officer pleaded guilty over a history of domestic violence but appealed his sentence
A County Court judge quashed the jail term, ordering the man perform community service instead
The victim says she and her children live in fear
The 54-year-old man who was suspended by Victoria Police and resigned before disciplinary hearings will instead complete 200 hours of unpaid community work, attend psychiatrist appointments and abstain from alcohol until his community corrections order expires in June 2022.

The outcome has left his victim Michelle* feeling "overwhelmed with guilt and despair" and in fear for her family's safety.

She claims the former officer knows where they live and drives hundreds of kilometres to her area for medical appointments.

Last month, the ABC revealed details of how investigators mishandled Michelle's case and how sensitive details about her plan to flee interstate to escape her attacker were shared around a Melbourne police station.

It is now the subject of an IBAC investigation.

Michelle's head was smashed into the letterbox of the family home during one of the horrific attacks committed by the former officer, and she said the prolonged violence left her doubting she could ever be in a relationship again.

In February, the man was sentenced to three months in prison by the Magistrates Court for intentionally causing injury, unlawful assault, breaching family violence orders and using a carriage service to harass.
Last Tuesday, however, a County Court appeal judge overturned the prison term, instead imposing a 24-month corrections order./quote]

I keep hearing about the increases in Domestic violence, and how it is a major social problem.
So when a prosecution of a violent arsehole who happens to be a cop who has misused the police database to get details of the victim, he gets a community service order.
Ya can go to jail for not paying traffic fines (particularly if ya black), but get off lightly for bashing someone.
World is completely nuts.
Mick

  Forum: Off Topic Chat

mullokintyre
Posted on: Yesterday, 10:02 AM


Group: Member
Posts: 2,498

Announcement today keeps the info flowing.
Not terribly exciting however.
Says it is the first "significant" Australian order.
I am not sure I would class a container load of product worth USD$65,000 significant, but hey, its all relative.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Yesterday, 09:58 AM


Group: Member
Posts: 2,498

And right on cue with some really big share price surges comes the capital raising.
The sensible people in the know will have offloaded a chunk of shares knowing they will be able to buy back in at a much cheaper rate.
Don'tcha just love the market??
Mick
  Forum: By Share Code

mullokintyre
Posted on: Yesterday, 09:55 AM


Group: Member
Posts: 2,498

Full year production of 382 mill ounces right in the middle of previous estimate range. and thw AISC also in the middle of estimates range.
Good result. Be interesting to see what next years guidance will look like.
Most interesting part is the net cash of $86mill, and a closing year balance of $406 mill.
Thats a fair sized warchest, and with gold still performing strongly, will get even bigger.
Wonder what they have in store for all that mullah.
Still bedding down Atlantic gold purchase, so maybe need to hang loose unless something compelling comes up.
Expect gold stocks to get some real momentum at this rate.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Yesterday, 09:45 AM


Group: Member
Posts: 2,498

My old mate , The Scottish Zero (aka Andy McNaught), sent me this. Its an oldie, but still a goofie.
Mick

A Scotsman (wearing his kilt and a bonnet) walks into offices of private bankers Coutts & Co in the Strand, London (Bankers to the Royal Family since 1820) and asks to speak to the manager.

He informs him that he is going abroad on business for two weeks and needs to borrow 5,000. The Manager tells him that Coutts & Co would only be delighted to meet his requirements, but that he should understand that since he is not a client of the Bank, it would need some modest security for the loan.

So the Scotsman opens his sporran, takes out the keys and documents of a brand new Ferrari parked in front of the bank and hands them to the manager saying Will this do? He also produces the cars log book and after a phone call everything checks out fine. The manager agrees to accept the car as collateral for the loan; the cashier hands out 5,000 while banks porter drives the Ferrari into the bank's underground garage for safe keeping.

Over lunch manger tells his colleagues the amusing little story of how a simple minded Scot from North of the Border secured a loan for 5,000 offering a 120,000 Ferrari as collateral and they all enjoy a good chuckle as they sip their Port.

Two weeks later, the Scotsman returns, repays the 5,000 and the interest, which comes to 15.41. The manager says, "Sir, we have been more than happy to have had your business and this transaction has worked out very nicely, but we are just a little puzzled. While you were away, we checked you out and found that you are in fact a wealthy property investor. What puzzles us is why would you bother to borrow 5,000 from us?"

The Scotsman replies: "Where else in London can I park my Ferrari for two weeks for only 15.41 and expect it to be still there when I return?"

Aaah - those canny Scots!
  Forum: Off Topic Chat

mullokintyre
Posted on: Yesterday, 09:42 AM


Group: Member
Posts: 2,498

Expensive indeed, but still cheaper than buying a new Tesla.
Here is a new TESLA on CARSALES . Priced at a very reasonable $196,000.
Could buy a very nice Seneca IV or two Twin comanches for that price and travel twenty times the distance on a single fill up.

Mick
  Forum: Investment Discussion

mullokintyre
Posted on: Jul 6 2020, 07:47 PM


Group: Member
Posts: 2,498

Came across an interesting company today, Evoluyionaustralia

They have an eclectic mix of business models.
The first part is the distribution and installation of EV charging stations from private to corporate.
But the part that most interested me is where they take an existing ICE vehicle, and convert them to Electric vehicles.
A mate of mine is getting an early model Range Rover converted total EV at their factory.
I will be following it with great interest, as i have an early model landrover that I have started to restore.
Could be interesting.
Mick
  Forum: Investment Discussion

mullokintyre
Posted on: Jul 6 2020, 02:10 PM


Group: Member
Posts: 2,498

Well, it does if (like me), you subscribe to the idea that the Congress, the senate, and Potus are plying around at the dge of what is really happening.
The big multinationals and Wall street Banks in collusion with the privately owned and run Fed reserve are the real power bases, and run interference for the mega ruch to just keep doing what they do best, screw evreything out of everyone else.
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Jul 6 2020, 12:59 PM


Group: Member
Posts: 2,498

Should have read puts a new spin on Portnoys complaint,
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Jul 6 2020, 12:27 PM


Group: Member
Posts: 2,498

Puts a new spin on Portnoys
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Jul 6 2020, 10:11 AM


Group: Member
Posts: 2,498

Yikes, up 50% on the open
Bought some tenements, so I guess it must mean something.
Can't help thinking there must be bit of a comeback for this one in the offing.
Gaps need to be filled, traders taking profits, etc etc
Mick
  Forum: By Share Code

mullokintyre
Posted on: Jul 3 2020, 08:47 PM


Group: Member
Posts: 2,498

Yea, but remember, there is Flu, then there is MANFLU.
They don't do lab test for MANFLU cos its so dangerous.
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Jul 2 2020, 09:03 PM


Group: Member
Posts: 2,498

Why o why do we still have international travellers coming in to oz?.
Is it too hard to close the international borders?
I shakes me head in wonder.
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Jul 2 2020, 08:46 PM


Group: Member
Posts: 2,498

As a corrollary to the article below, one of the ways to change a currency is to eliminate the Physical, and only allow Electronic funds to exist.
Lots of places here in OZ aee asking customers not to use cash, and to pay via card.
There are some suggestions that in the US at least, the COVID pandemic is being used as a smokescreen to implement a no physical currency.
From Zerohedge

QUOTE
The coin shortage in the United States is becoming quite severe, and a lot of people are deeply concerned about where this might be leading us. But if you dont run a business or deal with coins on a regular basis, you may not even know that it is happening. On Monday, my wife told me that a lot of people on Facebook were talking about this nationwide coin shortage, and then on Tuesday Ricky Scaparo posted a couple of news stories about it, so I decided that I better start looking into this. Because if this coin shortage is going to be used to push us toward a cashless society, that makes it a really big What I discovered is that this coin shortage has actually been intensifying for quite a few weeks, and on June 11th the Federal Reserve issued a statement in which they announced that coin rationing would begin on June 15th
Consequently, effective Monday, June 15, Reserve Banks and Federal Reserve coin distribution locations began allocating coin inventories. To ensure a fair and equitable distribution of existing coin inventory to all depository institutions, effective June 15, the Federal Reserve Banks and their coin distribution locations began to allocate available supplies of pennies, nickels, dimes, and quarters to depository institutions as a temporary measure. The temporary coin allocation methodology is based on historical order volume by coin denomination and depository institution endpoint, and current U.S. Mint production levels. Order limits are unique by coin denomination and are the same across all Federal Reserve coin distribution locations. Limits will be reviewed and potentially revised based on national receipt levels, inventories, and Mint production.


Just a matter of time.
Mick
  Forum: Investment Discussion

mullokintyre
Posted on: Jul 2 2020, 05:24 AM


Group: Member
Posts: 2,498

My Favourite blogger chuck butler had this gem in todays pfenning
QUOTE
QUOTE



Ok, a quick perusal through Twitter yesterday found this little ditty First the Tweet, then my take, ok?
The #BISInnovationHub is pleased to announce a strategic partnership with
@federalreserve
@NewYorkFed
to further the development of fintech initiatives for the global financial system" - from Twitter 6/30/20

OK for those of you not following along in class previously Remember when I told you that all the crypto currencies didnt mean a thing in the long run, because once the Govt came out with their version of a C.C. it was all over for the other guys Well, now you have to the two most powerful Central Banks in the world, (the Fed & BIS) joining together to come up with their own C.C. Go ahead and laugh you Bicoiners The last laugh will be on you! You see the steps that I laid out for you on how this current financial system will all come to and end, come together, and you start to think... "Hey, maybe Chuck was onto something"...


Mick
  Forum: Investment Discussion

mullokintyre
Posted on: Jul 1 2020, 04:53 PM


Group: Member
Posts: 2,498

No fish caught anywhere on Darling or in Menindee lakes (yet).
Did catch a carp on the Lachlan on way up.
Mick

  Forum: Off Topic Chat

mullokintyre
Posted on: Jun 30 2020, 09:03 PM


Group: Member
Posts: 2,498

Back in Menindee with some internet coverage today.
Had a long term sell order at 59 cents triggered Monday I think.
Cant complain.
love this corner country.
Not the first time we have been up here, but the first time I ever seen it looking like it should.
Lots of rain in the early part of the year has filled dams, promoted lot# of flora growth, and given the locals a real boost.
Met some very happy people off the land.
Be back on weekend.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Jun 19 2020, 06:29 PM


Group: Member
Posts: 2,498

Somebody else is going to have to step up to the plate.
The wife and I are off in the Van to follow the darling from Mildura to wherever.
internet coverage will be patchy at best.
Will send pictures of fish caught.
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Jun 17 2020, 08:41 AM


Group: Member
Posts: 2,498

Its like most things, EB, blanket statements just never cut it.
In some instances, animals are better than humans.
E.g. My neighbours dog, is a nice old thing, and far better company than its owner, who is just an old thing.
However, I would still pick his company over a swarm of Covid 19 carrying bats.
mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Jun 16 2020, 12:56 PM


Group: Member
Posts: 2,498

The most criminal part of all thus, is that the FED hired a bunch of crims called Blackstone to oversee this buyback.
From Wallstreet on Parade
QUOTE
BlackRock was also one of the investment managers for the Feds mortgage backed securities purchase program during the last financial crisis. It also advised the Fed on the pool of assets of Citigroup that the Fed ring-fenced and guaranteed. Additionally, the Federal government turned to BlackRock to evaluate the toxic assets of Fannie Mae and Freddie Mac after the government seized the entities in 2008.

Today, BlackRock has been selected in more no-bid contracts to be the sole buyer of corporate bonds and corporate bond ETFs for the Feds unprecedented $750 billion corporate bond buying program which will include both investment grade and junk-rated bonds. (The Fed has said it may add more investment managers to the program eventually.)

BlackRock is being allowed by the Fed to buy its own corporate bond ETFs as part of the Fed program to prop up the corporate bond market. According to a report in Institutional Investor on Monday, BlackRock, on behalf of the Fed, bought $1.58 billion in investment-grade and high-yield ETFs from May 12 to May 19, with BlackRocks iShares funds representing 48 percent of the $1.307 billion market value at the end of that period, ETFGI said in a May 30 report.

No bid contracts and buying up your own products, what could possibly be wrong with that? To make matters even more egregious, the stimulus bill known as the CARES Act set aside $454 billion of taxpayers money to eat the losses in the bail out programs set up by the Fed. A total of $75 billion has been allocated to eat losses in the corporate bond-buying programs being managed by BlackRock. Since BlackRock is allowed to buy up its own ETFs, this means that taxpayers will be eating losses that might otherwise accrue to billionaire Larry Finks company and investors.

As it turns out, the Federal Reserve is not the only entity trusting BlackRock with vast sums of money. As of December 31, 2019, according to an official report from the federal employees retirement plan known as the Thrift Savings Plan (TSP), BlackRock is the sole manager of the four investment funds offered, which total $334.5 billion. Those plans include a corporate bond fund; a stock fund consisting of large-cap and medium size companies; and a stock fund that includes small-cap and medium size companies.
BlackRock also manages pension funds for foreign governments, foreign local governments, and foreign central banks. According to a recent filing with the Securities and Exchange Commission by the central bank of Israel, BlackRock is investing its U.S. stock portfolio.

Barrons reported last week that BlackRock is the second- or third-largest owner of stock in Microsoft, Apple, Amazon, and Procter & Gamble, and among the top five in nearly every large U.S. company. Because of BlackRocks heavy influence with foreign central banks, some of which are also buying Microsoft, Apple, and Amazon, its role in the outlandish valuations of these companies may not be fully understood.

According to BlackRocks April report to shareholders, as of March 31, 2020 the company was managing approximately $6.47 trillion in assets on behalf of investors worldwide, which is about six times what it was managing before the last financial crisis..

Talk about conflict of interest
. Blackrock will be doing what it does best, make money for itself , by screwing its customers.
Mick
  Forum: Investment Discussion

mullokintyre
Posted on: Jun 15 2020, 05:01 PM


Group: Member
Posts: 2,498

And now the US Nikola co is taking orders for a hydrogen fuel cell vehicle.
From Unsealed 4x4

QUOTE
The Nikola Badger electric ute, with its innovative hydrogen fuel cell electric powertrain, is one step closer to becoming a production reality after company founder Trevor Milton announced orders will be taken from 29 June.Unlike the Tesla Cybertruck, the Nikola Badger is a smaller ute that will compete with the likes of the Ford F-150 and Toyota Tacoma in the US, and vehicles like the Ford Ranger and Toyota HiLux when it eventually lands in Australia. And as its a fuel cell electric vehicle (FCEV), it can be refilled with hydrogen as quick as any petrol- or diesel-engine vehicle as soon as the infrastructure is in place, of course.

The Badger features traditional 44-ute styling and theres no doubt its a good-looking vehicle, and it has all of the attributes that a 44 ute should have plus some more. As well as its 44 driveline, the Badger looks set to be an on-road perfromance powerhouse, with a claimed 0-60mph (96km/h) time of 2.9 seconds thanks to electric motors that produce a claimed 675kW of power and 1328Nm of torque.

Nikola also claims a 600-mile (965km) range for the Badger using both its hydrogen fuel cell and battery, and those who dont have access to a hydrogen refuelling station (pretty much everyone right now), the Badger will still be able to travel up to 300 miles (482km) on its fully-charged battery.The Badger will have a claimed maximum braked towing capacity in excess of 8000 pounds (3628kg) and, according to Nikola, it will be able to operate in conditions down to -28C without significant performance or SOC (state of charge) losses.

The five-seat Badger ute will measure an estimated 5900mm long x 2160mm wide x 1850mm tall, and will have a 1560mm bed width. For comparative purposes a Ford Ranger measures 5382mm long x 2163 wide x 1815 tall with a 1560mm bed width.


And in keeping with the Tesla Tradition, although it has produced no cars as yet, and does not even habe a production facility, let amone a maintenance sales and spare parts facility,

QUOTE
Although Nikola Motor Company is yet to produce a vehicle, it has reportedly started work on its manufacturing facility in Coolidge, Arizona. As of the close of markets yesterday, the companys market value was a staggering US$28.63 billion more than either Ford or Fiat Chrysler Automobiles (FCA)!


The market is truly mad and when it all comes crashing down, there will be a more than a little collateral damage.

Mick
  Forum: Investment Discussion

mullokintyre
Posted on: Jun 15 2020, 10:44 AM


Group: Member
Posts: 2,498

Funerals can have up to 100 people in Queensland as of tomorrow according to the QLD Premier..
Won't be long before the others follow suit.
Will be good for IVC, as more mourners mean bigger rooms, more staff, more afternoon tea etc.
Down today which is perhaps a little surprising.
Might add some more.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Jun 15 2020, 09:27 AM


Group: Member
Posts: 2,498


The new CEO of Boral has promised shakeup in the group.
From OZ Business
QUOTE
Construction materials giant Boral has appointed prominent director Zlatko Todorcevski to replace long-serving boss Mike Kane as chief executive, with a shake-up on the cards after the new boss declared there were no sacred cows when assessing the companys assets and strategy.

Mr Todorcevski will quit as deputy chairman of Adelaide Brighton, a rival to Boral, and also step down from director roles at supermarket retailer Coles and casino operator The Star Entertainment Group over the next few months.

The new Boral chief, who has held a number of high profile executive roles at Brambles, Oil Search and BHP will assume the CEO role on July 1, with Mr Kane due to retire in September.Boral shares have fallen by 60 per cent in the last two years with the company facing criticism for failing to more effectively cash in on Australias infrastructure boom and now facing an uncertain outlook for construction in the wake of the COVID-19 pandemic.

Mr Todorcevski, who will be paid $1.75m in fixed salary and $150,000 in Boral shares, said the company had under-performed in recent times.

This is a great, iconic Australian company, with an excellent brand, a committed and passionate workforce, strong market positions, and solid underlying business fundamentals, Mr Todorcevski said. But it is fair to say that in recent times, the company has not performed in line with the markets or the Boards expectations.

Mr Todorcevskis experience in business turnarounds was also noted by Ms Fagg.

With exceptional commercial acumen, strategic insight and a focus on return on capital, Zlatko has a strong track record as a senior executive in a number of large industrial and energy companies, with international operations, Ms Fagg said. His experience in leading major transformations, including business turnarounds, as well as in capital allocation and strategic portfolio management, are critically important for Boral.

Hopefully, it will signal a boost in the share price, been on an upward trend for a few months now, I hope it continues.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Jun 12 2020, 10:11 PM


Group: Member
Posts: 2,498

Is it possible that Investors in the US spend most of their time smoking Pot??
When the Automobile renter Hertz went into Chapter 11 bankruptcy, most people thought they would just die a natural death.
Not so, it seems. After the stock plunged into depths of despair, for a few days there was so much demand for the stock it rose to a top of $6.25
Why you might ask yourself, would anyone buy stock of a company entering bankruptcy?
Not to be outdone, a group represented by the bankers Jefferies group has filed a motion to raise $500 mililon bucks from punters in a
QUOTE
"unique opportunity" to "raise capital on terms that are far superior to any debtor-in-possession financing."


Mick

.
  Forum: Off Topic Chat

mullokintyre
Posted on: Jun 12 2020, 04:11 PM


Group: Member
Posts: 2,498

No, not another of those Americanisms that we have imported.
Do they not know the english English word from??
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Jun 12 2020, 08:53 AM


Group: Member
Posts: 2,498

That Law of Unintended consequences has struck again.
from twitter
After beheading the statues on a Monument in Boston, a crowd of people decided to topple the statue of what I think is a confederate soldier.
Unfortunately, a black man man standing underneath it was crushed by the falling statue, and is in a critical condition in hospital.

A young white female who was standing on the top of the monument with a sledghammer is seen during the feed quietly letting go of the hammer and quietly making a hasty exit.

Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Jun 12 2020, 08:17 AM


Group: Member
Posts: 2,498

Dow has shed 1900 odd points over past two days. Bet tonite won't be any better.
Contagion about to hit OZ?
Another big sell off today??
Mick
  Forum: Investment Discussion

mullokintyre
Posted on: Jun 10 2020, 10:03 PM


Group: Member
Posts: 2,498

Yep nice work, I am betting there will be another run up on the PM's.
Loaded up on EVN and ALK today, already have a swag of RMS, so i expect riches beyond comprehension.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Jun 10 2020, 05:49 PM


Group: Member
Posts: 2,498

QUOTE
This seems to be a woman with little respect in most Indigenous communities, and craves for acceptance from others.Sky loves her views and i believe, for one fifth of a piece of Gold she will say what her audience wants to hear.

And what exactly do you base that on? Your indigenous heritage?
She seems to have enough respect in Alice Springs where is a councillor.
She is the only Indigenous councillor in Alice Springs in a sea of white faces.
She also managed to get 37% of first preferences against another indigenous bloke, Warren Snowdon in the last Federal Election.
This seat of course is basically all of the NT less Darwin.
According to the last census, 44% of the population of the seat are Indigenous.
So it would be safe to conclude that there are quite a few Indigenous communities have more respect for her than you suggest.
Her biggest problem is she is a woman and does not belong the Labour party or the Greens.

Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Jun 10 2020, 11:59 AM


Group: Member
Posts: 2,498

You lucky bugger.
I don't have enough hair to get a haircut!
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Jun 10 2020, 11:12 AM


Group: Member
Posts: 2,498

Get your brother to stage a coup and replace XI.
We can then get another coup in Russia to replace Putin with a member of Pussy riot.
Then we need a coup in the USA to replace Trump with Marsha from the Brady bunch.
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Jun 10 2020, 10:26 AM


Group: Member
Posts: 2,498

Maybe time for another gold run.
Most of mine up today.
RMS is up on strength of some good drill results.
Mick
  Forum: Macro Factors

mullokintyre
Posted on: Jun 10 2020, 09:25 AM


Group: Member
Posts: 2,498

Aaahhh, the law of unintended consequences strikes again.

From the White supremecist brietbart


QUOTE
The riots in American cities last week and the week before forced the temporary closure of at least 70 separate coronavirus testing sites nationwide, the White House Coronavirus Task Force was told on Tuesday.

At the Task Forces meeting on Tuesday at the White House, Admiral Brett Giroirthe assistant secretary for health (ASH)of the United States Public Health Service Commissioned Corps (USPHS) informed members of the temporary closures because of the riots.Two officials present in the meeting also confirmed to Breitbart News that Giroir said 31 of the 70 sites that were temporarily closed because of the riots were shuttered for a full week.

Most of the shuttered sites are back up and running now.

The Department of Health and Human Services (HHS) did not reply to a request for comment.

This news comes after weeks of mass gatherings at which public health officials have expressed concern that coronavirus could spread.

Given that the virus seems to affect poor American people rather than wealthy ones, its another kick in the face for the poor.
Love to know how many of the protesters lived in the slums.

Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Jun 9 2020, 11:45 AM


Group: Member
Posts: 2,498

LKE to resume processing at its Lake kachi brines.
Still rising steadily, still a backlog of buyers lining up.
Steady as she goes.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Jun 9 2020, 09:09 AM


Group: Member
Posts: 2,498

The idea of removing cash completely from society has always been a very attractive aim of the financial institutions mand particularly the guvmint.
Firstly, the it costs the banks lots mulah to maintain the cash, keep it safe, distrbute it to ATM's etc, and they don't make any money out of hard cash. They could also cut down on security at branches, and maybe even cut the branches out completely. So naturally the bank would like to see its end
Secondly, the RBA has to physically print and mint the hard currency as well as maintain whats in circulation. So they would be happy to see the end of Cash.
Thirdly, the mandarins in the ATO and treasury see cash as a means of avoiding taxes and guvmint charges, so anything that gives them moreto spend has to be a winner.
Finally, the guvmint can put the onus on the private sector to do all their tax collecting, accounting, and get it on a more timely basis.
It also limits what the private citizen can do outside the all encompassing arms of the system.
However, perhaps the examples of whats happened in Sweden might be a warning to us all.
From ABC NEWS

QUOTE
As Australia flirts with the idea of a cashless society after coronavirus, Sweden has a warning: be careful what you wish for.
Key points:
A report predicts Australia could be cashless within two years
500,000 Australians still have a bank account with no linked debit card
A Swedish expert says moving too fast can have unintended consequences
Sweden is often cited as the most cashless country in the world.

It was already well on the way to digital-only payments before the pandemic was declared, and the virus has only served to hasten the demise of cash.

"If you walk in the city in Stockholm nowadays, most of the stores will have signs saying they don't accept cash anymore," says Niklas Arvidsson, an associate professor at Sweden's Royal Institute of Technology.

If you are one of the many Australians who now prefer to use a card over cash, this might not sound like such a bad thing.

But as Mr Arvidsson explains, there are now concerns Sweden went too hard too early and the rapid switch can have unintended consequences.Sweden has undergone a remarkable and comparatively rapid shift away from cash as its government and central bank left it to the market to decide what worked best.

Banks had no interest in keeping physical currency alive as they make no profit on cash purchases, and ATMs are costly to operate.

In fact, Mr Arvidsson said it was now difficult to even find an ATM outside a major city in Sweden.While the majority of Swedes are happy to trash the cash, Mr Arvidsson said there had been a growing backlash to the move among hard-hit communities particularly the elderly and disabled, who have struggled with the transition to a predominantly digital model.

He said there was even evidence some people were having to forego buying things because they couldn't access cash.

Such was the problem, the Swedish government was forced to step in and pass a new regulation that came into effect on January 1 and required banks to provide a minimal level of cash services.

Going cashless: who loses?
Money is taken out of a wallet
Small business owners and people relying on cash-in-hand jobs will be hardest hit as Australia goes cash-free.

Read more
The issue, Mr Arvidsson said, was the speed at which Sweden moved. And he urged Australia to learn from this.

"[Australia should] prepare people for a digital society in all its aspects, including payments," he said.

"That is something that the government in Sweden did not do.


Mick
  Forum: Investment Discussion

mullokintyre
Posted on: Jun 9 2020, 08:29 AM


Group: Member
Posts: 2,498

I also received one of those notes, but I don't know how they are going to compensate me, as I no longer have a COMSEC account.
My total was only 12.36, so I am not too worried.
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Jun 9 2020, 08:09 AM


Group: Member
Posts: 2,498

I doubt Jacinta price will ever be invited onto QandA.
It is so much easier if they just blame someone else.
Often its what is NOT said that changes the picture of things.
On Q and A last night, David Dungay's mother made much of the fact that her somne died in custody in Jail, and no one was held accountable.
So why exactly was he in Jail??
From the SMH
QUOTE
According to the report, Dungay Hill had been admitted to the psychiatric ward of Long Bay hospital one month before and was being treated for chronic paranoid schizophrenia. He was diagnosed as experiencing hallucinations "which culminated in non-compliance and aggressive behaviour". The report noted he had a history of violence towards staff. Complicating his health problems, he was an insulin-dependent diabetic and he struggled to manage the condition while in jail.

"It is fair to say that the prisoner comes from a very underprivileged and dysfunctional community where unfortunately he and others end up in custody and in juvenile institutions from a young age," the trial judge remarked when Dungay Hill was sentenced in June 2009..

Dungay Hill's crimes were serious by any measure. Three weeks after his 18th birthday, he was involved in a violent robbery in which the homeowner was bashed. Two months later, he was arrested by police for the attempted rape and assault of his girlfriend. He was jailed for 9 years after his sentence was increased on appeal.

"He knew he had done wrong," Mr Hill says. He doesn't dismiss his son's past, but remains deeply anguished he was never able to prove he could change.

"He didn't get that opportunity to just walk out the gates rather than coming out in an ambulance. It's heart-wrenching. I can't think about it too much, because it just draws me back into depression."

Mr Hill was 18 when his then-partner Leetona Dungay gave birth to David Junior. The couple separated six years later, and Mr Hill, who lives in Ipswich, Queensland, saw his son sporadically in the following years after Ms Dungay relocated to Kempsey on the Mid North Coast of NSW, taking young David and his sister Cynthia.

"The hardest part is knowing I won't be seeing him again," Mr Hill says.


He had underlying health issues caused by complications from both Diabetes and Schizophrenia.
He was eating a packet of Tim Tams, when the guards told him to stop because he would likely go into a hyperglycemic state, so the dragged him out and sedated him
It can be argued that the prison officers did not treat him correctly, but they are not trained paramedics, and should not be expected to be so.
It might also be argued that he should have been in a mental institution given his mental health, but that goes for most of the prisoners in Jail.
The coroner was critical of the response, but did not reccommend any charges, as they had largely followed the procedures outlined in jail policies.
No mention of the rape,which kinda makes the original Price article more pointed.
QndA mentioned none of this,it was more about the white hand wringing.

Mick.

  Forum: Off Topic Chat

mullokintyre
Posted on: Jun 8 2020, 09:35 PM


Group: Member
Posts: 2,498

Look on the bright side EB, now thanks to getting screwed by your broker, you no longer have a fortune to be gobbled up in the trouble just waiting around the corner.
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Jun 8 2020, 08:16 PM


Group: Member
Posts: 2,498

Plenty of Law EB, but the order bit seems to have fallen by the wayside.
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Jun 8 2020, 02:34 PM


Group: Member
Posts: 2,498

So, it looks like the banks are fighting back!

QUOTE
An incipient rebellion by the banking industry against draconian anti-money laundering enforcement measures is intensifying, as leaders compare Westpacs $1bn penalty and career-ending accountability moves to Canberra emerging unscathed from the robodebt disaster.

Theres no logic behind the two outcomes, particularly if you believe Centrelinks debt recovery program is a more grievous failure because it preyed on (vulnerable) people, a senior banker said.

While acknowledging Austracs serious allegation of a link to child exploitation in some payments made by 12 Westpac customers, he said the banks transgressions were overwhelmingly victimless.

Last Thursday, Westpac released two reports on the Austrac debacle: a management accountability review overseen by Promontory Financial Group, and a report on board governance by a three-member panel chaired by Ziggy Switkowski.

The probe blamed sins of omission and not of commission, estimating that 99.95 per cent or more of the missing international funds transfer instructions related to legitimate and uncontroversial transactions involving government pension payments et al.

Westpac, however, has suffered a heavy toll, with chairman Lindsay Maxsted bringing forward his retirement, chief executive Brian Hartzer losing his job, and non-executive director Ewen Crouch stepping down.
n addition, the bank has set aside $900m for a penalty. Austrac is seeking $1.5bn, more than double the penalty paid by Commonwealth Bank for similar AML breaches in 2017.

In contrast, the robodebt scandal, where the government will repay $721m after unlawfully using income averaging to raise 470,000 debts from welfare recipients, has not claimed one ministerial head or led to accountability measures.


It is kinda hard to argue the logic.
But as usual, it is one rule for the private sector, and another for the guvmint.
We are still to hear which of the mandarins from treasury and he ATO will be terminated after the debacle of the 60 billion overstatement of Job keeper.
But then again, you only have to look at the bull shit labour statistics to see that the standards for accuracy are pretty low the public service.

Mick
  Forum: Investment Discussion

mullokintyre
Posted on: Jun 8 2020, 10:39 AM


Group: Member
Posts: 2,498

AAGGGH, no no, not The OZ
QUOTE
I took previsions myself. I wrote a mask and sanitiser and tried to keep away from others.


The world is truly coming to an end.
mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Jun 6 2020, 01:46 PM


Group: Member
Posts: 2,498

Another celebrity expert. Actress kristen Bell will be bringing her daughters up to be anti racists.

From QTN


QUOTE
Bell went on to say that it is up to white people to find a solution to these problems, rather than placing the burden on the black community, as they are too busy trying to survive in America today.

I totally believe everything thats being said, its like, what do we do? The Good Place actress continued. Well, we dont need the black community to guide us right now. Theyre trying to survive.

We need to figure it out as white Americans, she added. So one thing that I think is important is talking to my children about this. I showed my daughters some of the images that are happening right now I think that they have more durability and more resilience than we give them credit for.


It would have been more accurate if she had replaced the word "white people" with "rich People" and the words "black community" with "the poor Community".

Poor people, regardless of their colour or race, have a constant battle to survive on a daily basis.
Wealthy people are shielded constantly from the actions they demand of others.
Another white wealthy hyppocrite.

Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Jun 4 2020, 08:26 AM


Group: Member
Posts: 2,498

Perhaps you should shift it to your conspiracy theories thread??
mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Jun 3 2020, 07:25 PM


Group: Member
Posts: 2,498

China is the first cab of the rank to launch a digital currency, as a digital Yuan will be released next year to replace physical currency.
From RT Com

QUOTE
The Peoples Bank of China has revealed plans to have its sovereign digital currency ready in time for the 2022 Winter Olympics. The announcement comes as the Covid-19 pandemic has accelerated a shift away from paper money.
Limited trials are already underway in Shenzhen, Suzhou, Chengdu and the Xiongan New Area in the northern province of Hebei, said the central banks governor Yi Gang. He told reporters that Chinas government plans to run pilot tests at Olympic venues, though there remains no official timetable for a release.

An unnamed member of the State Council with knowledge of the project told the Nikkei Asia Review that If the government is satisfied with the results of this year's tests, the currency will be issued next year. Otherwise, more tests will be conducted next year, he said.
The digital yuan will be linked to the holder's smartphone number, with transactions taking place through an app. Users will be able to transfer money between accounts by tapping phones, much like having physical cash change hands. The currency will be legal tender, so it could be exchanged without needing a bank as an intermediary.

The size of transactions would be limited based on identity verification. A phone number alone would permit only small transactions, while providing proof of identity or a photo of a debit card would raise the limit. Speaking with a bank representative in person could allow for the cap to be removed entirely. Suspected criminal activity will be uncovered via transaction histories.

According to Eddie Yue, chief executive of the Hong Kong Monetary Authority, it has become easier to use and popularize new payment technologies since growing coronavirus concerns make consumers prefer digital currencies to physical cash.


Hmm, like the bit about suspected criminal activity will be uncovered by transaction histories.
In China, criminal activity can vary from day to day.
great way to silence dissenters.

mick
  Forum: Investment Discussion

mullokintyre
Posted on: Jun 3 2020, 06:52 PM


Group: Member
Posts: 2,498

i reckon all those people hit with a fine over the past few weeks for not social distancing enuff will be a bit pissed orff.
QUOTE
Victoria Police say they will not be issuing fines for breaches of social distancing at a solidarity protest in Melbourne over the death of George Floyd in the United States, despite fearing the event will lead to the spread of coronavirus.

On Wednesday evening, more than 30,000 people had registered interest in attending the event outside state parliament on Saturday, which has been organised by the Aboriginal community in response to the Black Lives Matter movement.

The death of 46-year-old unarmed black man George Floyd in Minnesota last week, after a white police officer knelt on his neck for nearly nine minutes, has sparked violent protests around the world, some of which have included looting, anarchy from demonstrators and attacks on protesters and media by police.

Victoria Police Assistant Commissioner Luke Cornelius said police were respected peoples rights to protest, but would have preferred the action be postponed until after the COVID-19 pandemic has passed.

He urged those planning to attend to follow public health directions on social distancing to prevent any more coronavirus infections.

As I understand what's planned on Saturday would amount to the largest mass gathering since the Chief Health Officer's directions came into force, Mr Cornelius said.


Once again, VIC Pol taking the easy way out. So much easier to ping a bunch of kids partying or mums taking their daughters for driving practice.
But a bunch of virtue signallers disobeying the laws is just too hot to handle.
Mck
  Forum: Off Topic Chat

mullokintyre
Posted on: Jun 3 2020, 04:31 PM


Group: Member
Posts: 2,498

Aggh, wont let me past the pic.
Edit useless.
mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Jun 3 2020, 10:34 AM


Group: Member
Posts: 2,498

It all depends on sentiment EB.
On the basis of fundamentals, you wouldn't be buying AUD.
The world heading to recession, so our commodities should be in much less demand, the other two winners Tourism and education smashed, RBA QE ing like every other CB
Still the sentiment is benign towards the AUD.
But then if you want the counterparty to the AUD, what is it?
The USD is crap, the Euro is fast heading that way, where do you go?
The UK pound? The Japanese Yen?
None of them are appealing to me, so I have no idea where to go.
Maybe the AUD will just keep climbing as people desperately seek a safe haven.
I guess we are relatively safe- no riots (yet), stable government (mostly), still exporting lots of iron ore copper etc.
We seem to have smashed that corona curve.
So I guess its onwards and upwards.
Mick
  Forum: Macro Factors

mullokintyre
Posted on: Jun 3 2020, 08:45 AM


Group: Member
Posts: 2,498

AUD now touching 69 cents. From that low of 55 on 22 March , the AUD has risen 26% isn a few weeks.
Pity about the exporters, but suddenly we are in favour again.
Can you feel the love?
Australia has set a record not seen since early 1970's, we have now had a trade surplus for 12 consecutive months.
Gold down 10% from its highs in AUD, but still a reasonable price.
This is despite a pandemic, potential trade wars breaking out everywhere, America tearing itself apart internally, and China asserting its power unilaterally.
Hate to see what would happen if a real crisis broke out!
Mick
  Forum: Macro Factors

mullokintyre
Posted on: Jun 2 2020, 09:09 PM


Group: Member
Posts: 2,498

And also up on the expectations of a takeover.
According to The Oz


QUOTE
Seven Group Holdings has emerged with a stake in Boral Group amid talk that the company remains a takeover target, say sources.

Seven was understood to have been buying shares through the UBS equities desk.

It is understood that Seven is buying only a friendly stake in the company and is not looking to launch a takeover of the business.

It comes after heavy trading in Boral in recent days and after suggestions it might be ripe for a takeover or a breakup with some shareholders lobbying for the move.

CRH and Lone Star Funds were earlier said to be circling the countrys largest building materials provider.

Seven has bought stakes in listed companies in the past as investments, including Beach Energy, Estia, Telstra and Woodside Petroleum, among others.

Seven Group also owns a 15 per cent stake in the Shell-operated Crux gas and condensate field offshore north-western Australia.


Think i will exit soon, don't want to be caught up in these games.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Jun 2 2020, 08:55 PM


Group: Member
Posts: 2,498


I have written numerous times about the inequality in America, but so many commentators, media analysts and academics completely miss the point. The constant blame on trump, or whoever else is the POTUS is a complete farce. The real problem is the big financial institutions that have pirated the financial system along with the myriad of alphabets that are supposed to oversee it.

FromWall street on parade
QUOTE
Chelsea Peterson, a white protester in Portland, Oregon on Friday night, told CNN she wanted to show my solidarity with my black brothers and sisters. Peterson added: It was important for me as a white person to actually show up because it is our responsibility to dismantle the systems of oppression that we have created.

Two of those systems of oppression are the Wall Street mega banks and the Federal Reserve, which have institutionalized enforced inequality in the United States, particularly in minority communities.

Lets start with Citigroup, one of the largest Wall Street banks and a serial predator. On July 20, 2001, Gail Kubiniec, a former assistant manager at a Citigroup affiliate, CitiFinancial, testified to the Federal Trade Commission (FTC) on the predatory lending habits of the firm. Kubiniec stated:

Employees would receive quarterly incentives, called Rocopoly Money, based on how many present borrowers they renewed (refinanced) into new loansTypically, employees would only state the total monthly payment amount in selling a proposed loan. Additional information, such as the interest rate, and the financed points and fees, closing costs, and add-ons like credit insurance, were only disclosed when demanded by the borrowerWhen quoting the monthly payment, I frequently quoted the payment with coverages already included, telling the consumer only that it was fully protected. This was a common practice used by employees at CitiFinancialThe pressure to sell coverages came from CitiFinancials Regional and District Managers. Each branch had monthly credit insurance sales goals to meetIf these goals were not met, the District Manager would call and put pressure on the Branch Manager to get the branch up to par.

Kubiniec testified that this is how Citigroup determined its prey: I and other employees would often determine how much insurance could be sold to a borrower based on the borrowers occupation, race, age, and education level. If someone appeared uneducated, inarticulate, was a minority, or was particularly old or young, I would try to include all the coverages CitiFinancial offered. The more gullible the consumer appeared, the more coverages I would try to include in the loan

The black community is particularly unattuned to the ways of Wall Street because Wall Street, for the past four decades, has systematically refused to hire and train black people as financial advisors. In 2008 we wrote the following:

Wall Street, known variously as a barren wasteland for diversity or the last plantation in America, has defied courts and the Equal Employment Opportunity Commission (EEOC) for decades in its failure to hire blacks as stockbrokers. Now its marshalling its money machine to elect a black man to the highest office in the land. Why isnt the press curious about this?

Walk into any of the largest Wall Street brokerage firms today and youll see a self-portrait of upper managements racism and sexism: women sitting at secretarial desks outside fancy offices occupied by predominantly white males. According to the EEOC, as well as the recent racial discrimination class actions filed against UBS and Merrill Lynch, blacks make up between 1 per cent to 3.5 per cent of stockbrokers this after 30 years of litigation, settlements and empty promises to do better by the largest Wall Street firms.

Having a black man in the Oval Office and a black man in the U.S. Attorney Generals office (Eric Holder) when Obama was President helped to mollify the outrage and anger as black communities across America saw their wealth evaporate in the financial crisis of 2007 to 2010 an era of corruption on Wall Street that has had no precedent since the late 1920s.

Instead of putting the serial predators at Citigroup in jail and letting the bank fail when it became insolvent in 2008, the Federal Reserve secretly made $2.5 trillion cumulatively in revolving loans to Citigroup, at below-market interest rates (some at less than of one percent interest) for two and one-half years. And despite the Justice Department receiving multiple referrals for potential criminal prosecutions of Citigroup executives from the Financial Crisis Inquiry Commission, Obamas Justice Department did not prosecute one Citi executive for their crimes before and during the financial crisis. And that was despite having a clear road map of corruption provided by internal whistleblowers, Richard Bowen and Sherry Hunt.

While Citi was getting this $2.5 trillion in super cheap loans from the Fed, it continued to charge high double-digit interest rates to struggling consumers on their credit cards and foreclosed on the homes of thousands of minorities who had been thrown out of work because of Citigroup and other Wall Street banks corruption. To keep its foreclosures out of the press, Citigroup used an alias.

Proving that the Trump administration is not an aberration in Swamp Building, the Obama administration allowed a Citigroup executive to hand pick key staff and cabinet positions, according to leaked emails. Citigroup was receiving the largest bank bailout in U.S. history at the time. No one involved in those emails has denied their veracity. See here and here.

In addition to the $2.5 trillion in revolving loans that Citigroup received secretly from the Fed (the loans were revealed in 2011 by a government audit), Citigroup also received $45 billion directly from the taxpayer under the Troubled Asset Relief Program (TARP). How does that compare to TARP money that went to help distressed homeowners that were jobless because Wall Street had collapsed the economy?

In 2017 the Government Accountability Office (GAO) released a study showing that the government had only disbursed $22.6 billion to help distressed homeowners. That compares to $16.1 trillion in revolving loans that a GAO audit revealed that the Fed had funneled to Wall Street banks and their foreign counterparts from December 2007 through July 21, 2010. (See page 131 of the GAO audit.)

In April 2017, when Senator Elizabeth Warren delivered an analysis of how Wall Street banks had conspired against wealth building by blacks, she was censored by major business media, including the Wall Street Journal, Bloomberg News, the New York Times, Reuters, the Financial Times and CNBC.

Warrens analysis came at a symposium hosted by Howard University, a predominantly black university. Warren told her audience that communities of color had been specifically targeted for wealth stripping by Wall Street through devious means in the leadup to the financial crash of 2008. She said this was preceded by a U.S. government conspiracy against them from 1934 to 1968.

Warren, who sits on the Senate Banking committee and is the most knowledgeable member of Congress when it comes to Wall Street, revealed that within two years of the onset of the financial crash of 2008, 8.8 million American workers had lost their jobs and within three years more than 4 million homes had been lost to foreclosure. The financial crisis wiped out as much as $14 trillion in household wealth, Warren told the crowd. But the losses were not evenly distributed. Warren explained:

Before the crisis, big financial institutions specifically targeted communities of color with mortgages that were full of tricks and traps, stripping wealth from families and their communities. And when the financial crisis came, those same communities of color got hit a second time with some neighborhoods nearly destroyed by the concentration of foreclosures.

As for the federal governments conspiracy from 1934 to 1968, Warren explained:

There is a long and shameful history in this country of discrimination against African Americans when they try to buy homes. From 1934 to 1968, the Federal Housing Administration led the charge. In a largely segregated America, FHA actively discriminated against black families by refusing to insure mortgages for qualified borrowers in communities of color, while helping white families finance their plans to achieve the American dream.

Its policy wasnt a secret. It wasnt the product of a handful of racist government officials. Nope. It was the official policy of the United States government until 1968. Thats in my lifetime. And because the Federal government had set the standard, private lenders enthusiastically followed Washingtons lead.

Warren also cited a study in the Boston Globe which found that the median net worth of white families in Boston is $247,000 while the median net worth for a black family is $8.00. Thats not a typo. Warren said Thats something that all Americans, regardless of race, should be ashamed of.

What is the Fed doing today to level the playing field? Absolutely nothing. In fact, its doubling down on its 2008 bailout policies to broaden the wealth disparities in America. The Fed is making repo loans (repurchase agreement) to the trading houses of Wall Street at 1/10th of one percent. It is making its Primary Dealer Credit Facility loans to the same trading houses at of one percent. Some of those trading houses are owned by the biggest Wall Street banks that are still charging an average of 16.01 percent on their credit cards to struggling Americans.

One of the protesters in Los Angeles on Friday night carried a handmade sign that read: White Silence Is Compliance. To that we would add that silence by mainstream media on what the Fed and Wall Street banks are doing today must become part of the national conversation.

I don't see how the USA can survive this.
This worries me greatly, not because I want the US to be the policeman of the world, but because I fear those who would step in to replace them.
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Jun 2 2020, 08:20 PM


Group: Member
Posts: 2,498

Just when the residents of Congo thought things could not get any worse comes news that another out break of Ebola.

From CVT News

QUOTE
DAKAR, SENEGAL -- Health officials have confirmed a second Ebola outbreak in Congo, the World Health Organization said Monday, adding yet another health crisis for a country already battling COVID-19 and the world's largest measles outbreak.

Congo also has yet to declare an official end to Ebola in its troubled east, where at least 2,243 people have died since an epidemic began there in August 2018.

Now Congolese health authorities have identified six cases including four fatalities in the north near Mbandaka, WHO director-general Tedros Adhanom Ghebreyesus said.
This is a reminder that COVID-19 is not the only health threat people face," he said in a statement.

Four other people were being held in isolation at a hospital in Mbandaka, UNICEF said.

The victims died May 18 but test results confirming Ebola only came back over the weekend, according to Congolese Health Minister Dr. Eteni Longondo. WHO said it already had teams on the ground.

This announcement marks the 11th time that Ebola has hit the province since the virus was first discovered in Congo in 1976. Just two years ago an outbreak killed 33 people before the disease was brought under control in a matter of months.

The latest cases turned up in Wangata health zone near the port city of Mbandaka, which is home to some 1.2 million.

Meanwhile, in the east health officials are still waiting to declare an official end to to the epidemic after nearly two years. The last known patient there was released in mid-May but the country now must go about another month without any new cases before a declaration can be made.

COVID-19 already has touched 7 of Congo's 25 provinces, with more than 3,000 confirmed cases and 72 deaths. However, like many African countries Congo has conducted extremely limited testing, and observers fear the true toll may be far higher.

While Ebola and COVID-19 have drawn far more international attention, measles has killed more Congolese than those diseases combined. WHO said there have been 369,520 measles cases and 6,779 deaths since 2019.


Just got an email from one of the guys I used to work with In Tanzannia.
The president of Tanzannia says that they will no longer be sending stats to the WHO, but rather has encouraged his constituents to go to Curch and pray, and that will protect them from the virus. Just what the cits need , another god botherer feeding them bullshit.
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Jun 2 2020, 07:37 PM


Group: Member
Posts: 2,498

Some time ago, someone quoted Thomas Sowell an African American economist and social historian, ,by letting loose the following on twitter


QUOTE
Black votes matter to many politicians more so than black lives. That is why such politicians must try to keep black voters fearful, angry and resentful. Racial harmony would be a political disaster for such politicians.

I recall this, one of many neat and concise statements from his book, Discrimination and Disparities.
A great read.
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Jun 2 2020, 07:10 PM


Group: Member
Posts: 2,498

Gold going down as the AUD goes up.
Not sure why the AUD is so attractive.
You would think that with every country dipping into QE, so many asset classes down, that PM's would have rocketed, but not so.
Doesn't really make a lot of sense, but thats the market.
Mick
  Forum: Investment Discussion

mullokintyre
Posted on: Jun 2 2020, 03:48 PM


Group: Member
Posts: 2,498

Bld up again on expectations of stimulus from Government.
Up 50% since I bought in, not sure whether to sell on the rumour and take my money or hold on.
Trouble is, I don't have anything else I want to put it into, and interest rates are hardly alluring.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Jun 2 2020, 03:34 PM


Group: Member
Posts: 2,498

As usual, Trump has to take the blame for these riots.
Trump might be a dickhead, but the anger is misplaced.
The Local and state police are all part of the state legislature.
The Chief of Police is voted in and out just like the mayor and other city officals.
Forget about the fact that Minneapolis, where George Floyd, was killed has a Democart Govenor, A democrat Mayor, and has voted Democrat at Presidentialo elections consistently since 1932.
The cops who started all this were hired by a democrat local officials, were paid by them, and one presumes got their cultural attitudes from them.
Not a word about the background, everything is blamed on Trump, even though he had no hand in the policy prescription, recruitment, payment, or monitoring of Police and other local officials.
It will only make his supporters more rusted on.
Would most Australians blame Scomo for the debacle in Victoria Police that was Lawyer "X?
Politics is a cesspool, and was always thus.
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Jun 2 2020, 01:57 PM


Group: Member
Posts: 2,498

According to WBC, we should be prepared for negative rates.

From the WBC Weekly report

T
QUOTE
he RBAs current inflation and unemployment forecasts do not
envisage either reaching target objectives by June 2022 (1.5%
inflation; 6.5% unemployment rate by the end of its forecast
period). These forecasts are broadly in line with our own view
but we readily accept that huge uncertainties characterise the
current economic outlook. While risks are evenly distributed we
cannot rule out the possibility of even greater divergence from
the objectives over the next few years.
Monetary policy is now firmly fixed at an open ended QE
program targeting the three year bond rate with the cash rate
held at the effective lower bound. Until we get more clarity
around the way in which the economy develops the current
policy is appropriate.
However, a serious case can be made for the RBA to consider
further cuts and entering negative territory for the cash rate if it
becomes apparent that the economy is deteriorating even more
than is currently expected.
A small open economy with significant foreign liabilities would
certainly see a substantial improvement in the competitiveness
of the currency with further rate cuts when other major markets
are anchored at their effective lower bounds.
The second key stimulus would be the impact of lower market
rates on retail lending rates as institutional rates go negative.
Both retail deposit and mortgage rates would go lower but still
remain positive. Given Australian banks relatively low reliance
on retail deposits the clear evidence from offshore that retail
deposit rates have remained positive confirms this view.
Risks to the financial system would be further limited by the
RBA restricting its QE policy to the short end of the yield curve,
allowing longer rates to reflect inflation and growth expectations.
There may be some risks around the currency response the
policy could prove too potent but similar concerns around other
unconventional policies were misplaced and there no real reason
to expect the currency to show a non linear response.
For me, the biggest concern would be the impact negative rates
would have on expectations and confidence. Is there some nonlinear impact on expectations as rates move into negative a
sticker shock even though the same policies have been seen
abroad or does such a bold move strengthen perceptions of
the RBAs determination to deliver on its objectives?
The risks are as much about framing and communication as the
policy itself. As we have already seen with the move to ultra-low
rates and then QE, if moves come as too much of a surprise, they
can exacerbate concerns about the economy and cast doubt on
the ability of policymakers to achieve better outcomes


What of course it does not state is that it would be extremely profitable for the banks themselves.
Charging people to deposit money in the bank, then loaning that same money out to a customer at a real rate of interest has got to be a winner!
Mick (being the cynical one again).
  Forum: Investment Discussion

mullokintyre
Posted on: Jun 1 2020, 01:47 PM


Group: Member
Posts: 2,498

Congrats, so what are you going out to buy??
What about a new 4WD, fishing boat, or maybe a Zegna suit?
Mick
  Forum: By Share Code

mullokintyre
Posted on: Jun 1 2020, 09:19 AM


Group: Member
Posts: 2,498

Up again on the early open.
Over 18 again, so should be a good day for ARD and SVL.
Mick
  Forum: Macro Factors

mullokintyre
Posted on: May 30 2020, 09:33 PM


Group: Member
Posts: 2,498

Only got it on Friday.
Spent most of today setting up.
Need to get out from town before I can test it out, then head to beach over the next few weeks with my brother in law to give it a whirl,
Biggest issue is getting a reel that has sufficient capacity to be able to take advantage of the distances the beast can take the line out.
Even using braid, most of them are limited to 500 or 600 metres.
Then you have the issue of having to wind the line back in.
May look at a bloody big reel attached to a battery and winch!
My father in law had a dairy farm down near corner inlet on Wilsons promontory.
He used to put his boat out from the back of the farm onto the beach with his tractor.
We pulled out so many King george whiting I was concerned we would fish it out!
Still my favourite fish feed.
mick
  Forum: By Share Code

mullokintyre
Posted on: May 30 2020, 09:53 AM


Group: Member
Posts: 2,498

Yikes, Elon might be a bit worried after one of his test rockets went boom yesterday.
This is just 24 hours before one of his working ones takes soem live astronauts into space.

Video of the spectacular blow up is from twitter

Mick
  Forum: Investment Discussion

mullokintyre
Posted on: May 30 2020, 09:37 AM


Group: Member
Posts: 2,498

Silver up 50 cents overnight to 17.80.
Expect SVL, and hopefully ARD to have a run up Monday.
Time to offload at 14 again.
Mick
  Forum: Macro Factors

mullokintyre
Posted on: May 30 2020, 09:34 AM


Group: Member
Posts: 2,498

Can't believe ARD is still alive.
The last post here on this topic was 2012.
They were still planning on drilling and firming up.
Now 8 years later, still planning on drilling and firming up!
Nothing except capital raisings , management changes, and blue sky promises in the intervening period.
And another capital raising to the "sophisticates" at 1.2 cents.
The second in less than a year.
I have stumped up fro a small parcel, mainly on the back of the knowledge that its tenements adjoin two stocks I already own, SVL and ALK.
The fact that silver went up 80 cents over night wont do any harm.
Looking for a quick rise and exit, don't want to join the legions of folks bitten by the sharks over the past ten plus years.
Mick
  Forum: By Share Code

mullokintyre
Posted on: May 30 2020, 08:59 AM


Group: Member
Posts: 2,498

Thats an average of 60,000 per trade, a fair bit higher than normal.
just shy of 10% of its total shares.
Must have been a couple of big parcels changing hands.
Unfortunately, I cant go back and look at the 15,000 odd trades to see the biggies.
Maybe something up.
Mick
  Forum: By Share Code

mullokintyre
Posted on: May 29 2020, 09:46 AM


Group: Member
Posts: 2,498

Royco is the man to talk to on BTC.
Have a look at some of his posts on the Virtual currencies thread.
Is a keen follower of all things blockchain, and is no fool.
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: May 28 2020, 08:30 PM


Group: Member
Posts: 2,498

I missed lots of names, geez, i even miss Flower!
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: May 28 2020, 12:50 PM


Group: Member
Posts: 2,498

LKE on a steady up trend recently, and boosted by a 11% increase today.
Seems more and more interest in their brine technology is coming in.
Big blocks of buyers waiting, witht he numbers of sellers decreasing.
When this sort of buying pressure builds, it usually means a share price increase.

Mick
  Forum: By Share Code

mullokintyre
Posted on: May 28 2020, 11:45 AM


Group: Member
Posts: 2,498

According to Sharescene's front page, there are over 77,000 registered members.
Apart from the 76,990 who only look at CUV, I wonder what the rest are doing.
There are fewer and fewer regular posters these days.
Apart from the demise of the artful Arty, there have been many who have dropped off the radar.
Somebody upset Blacksheep, a prolific and knowledgeable poster, Wren was another who got angry and left.
Wolverine, Veeone, Disco Stu, Barra, mistagear, mags, Wasabibarako, Hungry, balance , mr bear, mpl, alonso and many more who were regular and if nothing else entertaining posters have all gone missing in action.
One might have expected that these guys would have been replaced by other new knowledgeable and entertaining posters.
Sadly, it does not seem to be case.
There are days when apart from CUV, only 4 people have posted on the day.
So far today, this post will only be the second for the day.
Wonder if perhaps I should HC.
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: May 27 2020, 06:01 PM


Group: Member
Posts: 2,498

And just like that, it gets crushed.
First time for six weeks its has been below 2600.
Time for some consolidation, keep ones powder dry until the next run/
The funnymentals have not changed, every CD is QE'ing like there is no tomorrow.
Debasing fiat currencies never ends well.
Mick
  Forum: Macro Factors

mullokintyre
Posted on: May 26 2020, 03:58 PM


Group: Member
Posts: 2,498

Big runnunp in silver today.
Pity SVL in trading halt, would have been another good day to off load at 14.
Mick
  Forum: By Share Code

mullokintyre
Posted on: May 25 2020, 10:41 AM


Group: Member
Posts: 2,498

Well, i kept a larger holding than I thought as only a few of the ones I held got taken at 14 before it fell back to below 13.
Now in trading halt pending a capital raising.
EIS completed and submitted to relevant authorities, says life of mine is 14.5 years.
I guess this will be the first of many more cap raisings before they actually start producing silver.
Perhaps its also time for a bit of consolidation, lots of shares out there.
Mick
  Forum: By Share Code

mullokintyre
Posted on: May 24 2020, 07:30 PM


Group: Member
Posts: 2,498

Royco, I think you should view this youtube. unsure.gif

Bitcoin Billionaire

Mick
  Forum: Investment Discussion

mullokintyre
Posted on: May 23 2020, 10:10 PM


Group: Member
Posts: 2,498

Have the rates really hit bottom??
from The OZ
QUOTE
ANZ has hiked its interest rate on two-year fixed owner-occupier loans by 10 basis points to 2.29 per cent, marking the first major bank to increased fixed interest rates since the Reserve Banks emergency rate cuts on March 19

The move has prompted suggestions that longer term bank funding costs a key driver fixed rate pricing may be at or near the bottom of the cycle.

Since May 1, eight banks have increased rates on owner-occupied variable home loan products, while 20 lenders including non-banks increased two-year fixed rates, according to figures by mortgage research house RateCity

Theres no question were close to the bottom of the fixed rate market but some lenders could still potentially shave their rates further in a bid to get new customers in the door, RateCity research director Sally Tindall told The Weekend Australian.

ANZs increase brings it into line with two-year rates offered by NAB and Commonwealth Bank. While ANZ has made the first increase on fixed rates on its home loan portfolio, NAB has slashed its two-year fixed rate for interest only loan by 60 basis points to 2.79 per cent.

Westpac is offering the lowest two-year fixed principal and interest rate of the big four, at 2.19 per cent. The changes do not apply to variable mortgage rates which make up the bulk of ANZs home loan book.

Not sure if this is the bottom or not.
There is still the question as to whether RBA goes down the negative interest rates path.

Mick
  Forum: Investment Discussion

mullokintyre
Posted on: May 23 2020, 07:29 PM


Group: Member
Posts: 2,498

QUOTE
Mick will be happy with his gold and silver holding!!


I doubt gold and silver will be of any more use than copper or iron or Aluminium if there is a war between the superpowers.
No one wins, we are all losers.
Its just that some of the people who run things are bigger losers than the rest.
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: May 22 2020, 08:46 PM


Group: Member
Posts: 2,498

I feel I may have wasted some of my heard earned cash (ok It was just pure luck).
Saw an online ad for a fishing drone that I had been researching that seemed to be well below everyone else,

Got a mate to check the address in Sydney, and yes they seemed to have lots of stock of the things they advertised on their website.
Had mixed reviews on consumer affairs website, but i thought i would give it a go.
After putting in my order, and getting my credit card debited with the amount, i heard nothing.
Sent an email to the enquiries asking what was happening but got no response
Tried a couple of times to ring, but phone rang out.
Was starting to think despite my worldly cynicism , I had been conned.
I tried again to ring and got the lovely tatianna.
She said that I should have got en email asking about security.
Nothing received said I, not a cracker.
She then quoted my email back to me, but with two of the characters transposed.
No wonder I never got an email.
I pointed out to them that i had sent two emails to the orders department asking what happened to my order, but she said she was in accounts not orders!
So she sent it again to the correct address,
As part of the security, i was required to send a photgoraph of my license sitting over the top of the credit card so it exposed the name on the credit card with the last 4 digits of the card exposed as well.
Its something i have seen before with reasonable value purchases, so I was somewhat reassured.
I got no response again from email of the required security pictures, so phoned again.
Got David this time, who looked up on the computer which said my order had already been dispatched.
Great, can you give me some tracking details.
Funny, it had no despatch number he said "let me look into this , i will call you back".
About am hour later, I was surprised to get a return call as I had just about written them off.
He said that when the dispatchers came to box the drone up and send it, they found it was missing, so could not send it out.
Thanks for telling me, so when can I expect the replacement.
Agh, says david , thats the problem, it was the last one in stock.
So they are trying to source another one, may take up to two weeks.
In the meantime, today i get an email from them asking me to review the product I had bought and tell them how good they were.
I doubt they are going to like my review for my non delivered drone.
I am betting that when i next contact them they will tell me its been delivered.
Could be some interesting correspondence coming up!

Mick
  Forum: By Share Code

mullokintyre
Posted on: May 22 2020, 08:07 PM


Group: Member
Posts: 2,498

looks like there is a software bug.
I bet someone in the IT department uploaded a new improved version of the IM message software, without sufficient testing.
It happened before.
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: May 21 2020, 03:08 PM


Group: Member
Posts: 2,498

TLG on a run now.
Up 10% today.
Large queue of buyers, precious few sellers.
Something has to give.
Mick
  Forum: By Share Code

mullokintyre
Posted on: May 21 2020, 11:32 AM


Group: Member
Posts: 2,498

Glad I took the money and ran!.
Mick
  Forum: By Share Code

mullokintyre
Posted on: May 20 2020, 09:51 PM


Group: Member
Posts: 2,498

One of my Fave commentator/bloggers, Chuck Butler, has come out with a startling and sober prediction.
from his daily Pfennig newsletter on Monday .....

QUOTE
Well. This is going to be tough for me to spit out this morning, so please do not have a knee-jerk reaction, and fire me off an email. Please read what Im saying and see where Im going here Thats all I ask
Global debt is at levels that it should never have reached in a million years, but its there, and theres no paying back, in the traditional sense of paying off a debt. So, how are the countries around the world (except Russia, whos debt IS manageable) going to deal with this ever-growing debt? Ive thought long and hard about this folks, and in my heart of hearts, I know what the answer is, and Ive fought saying it, for so long, because, well, I just didnt want to believe it could happen.

And its not just because of the virus that this is the way it is At the end of 2019, Global Debt stood at $255 Trillion Once the dust settles on all the debt accumulated during the economic shutdowns, the Global debt will be greater than $300 Trillion With no ability to pay it down.

A month or so, I talked about the IMFs SDRs (special Drawing Rights), and how they used by Central Banks, and not suitable for individual use. I almost went down the rabbit hole then that Im ready to go down now.

I truly feel that with all this debt, and Central Banks going nuts with one alphabet plan after another, that theyve all backed themselves into a corner

To me, it seems, the only way out of this debt mess is for countries, including the U.S. to take haircuts, in other words, default on some of their debt. What this will do, is have every trader in the book, out to sell the currency of a country taking the haircut, and buy the currency of a country that hasnt announced they would be taking a haircut. But soon, they will all have announced it, and at that point is when I believe currencies, as we know them today, will no longer be

I thought I would be long gone by the time this all unfolded, for its been in the cards for years. I never would have thought that during my time on earth, that would see these kinds of debt levels I always thought that somewhere, someone with their head screwed on right, would figure out that we kept accumulating debt, that a default had to come eventually I always figured, Japan was first, then Greece, then the U.S. But instead, what I view happening is there would be a meeting of finance ministers where the coordinated announcement was made.

Things have gotten so bad overseas that theyre selling their Treasury bond reserves. Here was a news headline from late last week: Foreign holdings of Treasuries slumped in March by the most this century, falling $256.6 billion to $6.81 trillion. This likely stemmed from nations liquidating US debt positions to defend their currencies amid huge capital outflows.

That just means the Fed will have to up the ante on the amount of Treasuries they buy, since foreigners arent buying them like they used to. The Feds Balance Sheet will begin to show signs of stress, and the whole shootin match (the financial system) would feel the weight of the world on it, and that would be just another reason to call off the ballgame.

And the next downward move in stocks, which is coming, the Central Banks will run to the rescue, and those Countries that already dont have negative rates, will be reaching in their quivers, and finding no arrows, and will then have to go negative with interest rates. I laughed until I cried last week, when Jerome Powell, the Fed Chairman, denied that negative rates are being discussed. Or that he thinks there will be a need for them. To me, thats akin to when the General Manager or Owner gives a vote a confidence to the manager. We all know what comes next, right?

The going negative with interest rates is going to set off a chain of events that will change the world and the global financial systems. Heres the playbook on how I believe with will all play out. The Fed goes negative with rates, and banks begin to charge account holders for holding their balances. Being the hotblooded Americans that we are, we wont sit still while the bank charges us for holding our money, and soon there will be runs on banks for withdrawal of cash holdings

Well, seeing this, the Govt wont stand for the banks being run on for cash withdrawals, and a plan thats probably already in the works. And that plan will be to pass a bill that prohibits cash in the hands of individuals

And the next day, when you check your bank account, the dollars will have been replace with digits. Or a Govt crypto-currency, but dollars will cease to exist. And other Countries will follow suit. Thus eliminating the currencies of the world that we know of

The IMF will increase distribution of their SDRs, and banks around the world will revert to using SDRs to settle trade balances SDR's that have a different mix, because the currencies that used to make up SDR's will be gone.... Probably to a very large component of Gold...

You see, Ive through this through, and I see no other alternative. The good news in all of this is that Gold will be soaring and probably gapping higher each day by $100 or so.

So, with no currencies in the world to talk about. An end of the Pfennig is near But. At the request of the Aden Sisters, I will continue to write about economies, mainly the U.S., Gold, The Fed and other things that come to my mind, and the letter will be renamed. And it might not be done ever day. But thats all secondary, folks. The main thing is that your last civil right will have been taken from you in the blink of an eye, and now banks can charge you for everything under the sun and moon.

I know that for over 25 years, Ive told people that the way to diversify their investment portfolios is with currencies and metals But the situation has changed, and I will also have to change. But Gold will still be viable, and like I said will most likely be gapping higher each and every day, and the price manipulators will have been sent home with HUGE losses, and never to be seen again!

What should you do if you own currencies? Well, nothing. You could sell them and buy Gold/ Silver, but to do nothing would be like when you owned Spanish Pesetas, or German D-Marks, etc. They were all converted to a different form at a set conversion price Your current euro balance will be converted to whatever replaces the dollar, and thats that.

12 years ago, a fellow by the name of Aaron Stevenson, interviewed to work in St. Louis on the EverBank World Markets Desk, that I was the President of, He asked me the about the future of the currency business, and I told him, Eventually, Aaron, the currencies will all go away, but I hope that happens years from now when Im retired. Well, I'm retired now.... I'm just saying...

And with all this debt accumulation hows it going to get paid? More money printing all over the world, thus debasing each and every currency that has debt as its partner. Central Banks, like the Fed are going to keep printing currency to pay for Sovereign bonds (treasuries in the case of the Fed) and soon, with all this debt accumulation, no one will be willing to buy our debt, or Germanys debt, or Japans debt, you see where Im going with this? All that currency printing, and still the only entity to step forward to buy bonds will be the Central Bank. And when each Central Banks balance sheet begins to overstay its welcome, thats when things will change folks.

So, Im just not in the mood to keep talking about diversification with currencies Theres only one or two countries that makes sense any longer, rubles and Singapore dollars. And their markets are not big enough to weather this storm that all these other countries have stirred up Gold & Silver will still be great diversification tools. Silver has industrial uses (solar panels, wiring etc. ) and Gold has intrinsic values. Both are a store of wealth, and should be held as such.

Just keep in mind this quote from Winston Churchill... "When the facts change, I change my mind. What do you do?" Yes, the countries have done this to their currencies, and so I'm changing horses in the middle of the stream... I don't see a future for the currencies, including the dollar...


Scary stuff, but I guess its hard to argue with what he is suggesting has and is happening so far.
Not sure about the negative interest rates, Americans with guns are not going to tolerate the feds charging the rednecks to keep their money in the bank.
I presume the preppers will have long abandoned money and bought assets like guns and ammo.
Bit depressing really.
Mick
  Forum: Investment Discussion

mullokintyre
Posted on: May 20 2020, 09:45 PM


Group: Member
Posts: 2,498

The results are already in.
From St Louis Today

QUOTE
Even as retailers begin reopening in much of the country, a dark cloud hangs over much of the industry.
Simply put, the U.S. already had far more stores than it needed, and the coronavirus pandemic accelerated a shift toward online shopping. Rather than don a facemask to go to the mall, many consumers will open a web browser instead.

Add in the heavy debt load carried by many national chains, often the result of buyouts by private equity firms, and you have a recipe for a retail apocalypse.

When we come out of this you are going to have fewer players, fewer square feet of retail space, and the strong are going to gain market share from the weak players, says Brian Yarbrough, a retail analyst at Edward Jones.

Three prominent retailers J. Crew, Neiman Marcus and Stage Stores, owner of Gordman's have filed for bankruptcy this month and the venerable J.C. Penney reportedly may join them soon.


Back in the late 70's when I was working in the US, I was in awe of the massive department stores like JC Penny.
I was also amazed at the massive sears and Roeback catalogues that came out, a sort of forerunner to the internet. It seems that there was nothing, I mean nothing, that could not order from a sears and roebuck catalogue.
The catalogues have long gone, seems like the producers of those catalogues will follow suit.
Mick
  Forum: Investment Discussion

mullokintyre
Posted on: May 20 2020, 05:35 PM


Group: Member
Posts: 2,498

Another reason why the various states are hindrance Oz

From ABC News

QUOTE
Deputy Chief Medical Officer Paul Kelly says he is ready to meet the WA Premier "any time", after Mark McGowan said he did not know who he was amid an ongoing feud between state premiers over border closures.

Mr McGowan hit back at calls from the New South Wales and federal governments for interstate borders to be reopened, saying he would not be "bullied" by a state that allowed the Ruby Princess disaster to unfold.

"I don’t know who Paul Kelly is, clearly not the singer," he said.

Speaking later in Canberra, Professor Kelly said there was no medical reason for Australians to be stopped from travelling interstate, and that the Federal Government had never advised they should be closed.

"From a medical point of view I can't see why the borders are still closed," he said.

"Just to let Mr McGowan know, I'm a proud West Australian," he said with a smile.

"I grew up in that state, so I hope I'll be claimed.

"Happy to meet him any time, it might be a while for now depending on the border closures."

Earlier New South Wales Premier Gladys Berejiklian took aim at states with closed borders, claiming they were "hindering" Australia's economic recovery.

The Deputy Chief Medical Officer said he was sure Mr McGowan was getting "the best advice" from WA's Chief Health Officer Dr Andrew Robertson, who has advised not to reopen the borders.

When questioned on the discrepancy between the national and state advice, Professor Kelly said the national body of health experts decided early on "not to have a decision on borders".


The states have been a hindrance to progress for years.

We have different road rules, different health rules, different housing rules, different planning rules, different license regimes, different rules on daylight saving, the list goes on.

There is no medical reason as to why the borders were closed, or why schools were closed, the states just decided.

\We have this massive bureacratic behemoths in each state duplicating so many functions its laughable.

And then we have multiple levels of Government. Why on earth do some states have two houses of parliament??

The feds were set up with two houses so as the senate could act as a house of review and protect state rights.

Queensland, and the two territories have a unicameral system.
What on earth is the upper house providing to the other states other than a cushy job for politicians, and their entourage.
Daniel Andrews in Victoria has 948 staff members in the Premiers department. WTF?
Sooner we become a republic sans the states the better.
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: May 20 2020, 03:31 PM


Group: Member
Posts: 2,498

The big movers from shortman this week are the NewsCorp NWSLV and a mornningstar investment fund MSTR.
The latter has shot to 26% short in a week.
Obviously someone has some inside info thats caught on.
The shorting of Newscorp shares has been happening since early January.
Down about 22% from its $22 high.
Rupert may have to sell one his houses if this keeps up.
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: May 20 2020, 03:14 PM


Group: Member
Posts: 2,498

Shorts on Galaxy own from a high of 20% to 13%.
Pressure building on the buy side.
may be about to break out.Next target pre crash highs of 1.25.
heres hoping
Mick
  Forum: By Share Code

mullokintyre
Posted on: May 20 2020, 12:46 PM


Group: Member
Posts: 2,498

And now up to 0.13.
Big chunk of buyers lining up, ratio of buyers to sellers now 2 to 1.
Never thought I would see that again.
Will probably bail some more if it gets to 14 and keep a small holding just in case.
Mick
  Forum: By Share Code

mullokintyre
Posted on: May 20 2020, 12:41 PM


Group: Member
Posts: 2,498

I deffinitely sold out too early!!
Up to 2.24 today, obviously gold is attractive at the moment.
mick
  Forum: By Share Code

mullokintyre
Posted on: May 20 2020, 12:36 PM


Group: Member
Posts: 2,498

jeez, can't see too much thats funny in That!!
Take care, you'll be back.
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: May 20 2020, 09:50 AM


Group: Member
Posts: 2,498

ALk announced that it will deffinitely go ahead with the demerger of ASm(its REM prospect), and become a pure Gold production company.
Not sure whether I like this idea or not.
I had originally bought into Alkane for its REM assets, the gold part was an added bonus.
I always assumed the gold production would be used to pay to set up the REM side of the business.
It seems not to be the case now.
Given 20 mill in seed money to get it going.
ASM will then need to start arranging finance for the project.
Might be a tad difficult in this market, but with strategic demands for REMs outside of China, it may yet get off the ground.
Shareholders get 1 ASM for every 5 ALK.
So do I sell out a portion and buy more ASM on market when they hit, or do I keep my powder dry??
Will wait till i get the demerger booklet before I decide whether to bail.
Mick
  Forum: By Share Code

mullokintyre
Posted on: May 19 2020, 04:43 PM


Group: Member
Posts: 2,498

I tried growing Lupins as a stock feed years ago on an outpaddock we had on some sandy loam.
Cows seemed to like it , but it was s a bit finicky for my liking.
Its a bit fussy in its temperature range.
Problem was, the frosts we used to get in the late 80's here made the flowers fall off, and any days above about 32 C also made the flowers fall off.
Went back to boring old oats., there werent many years when you couldn't get some sort of yield for hay.
Mick
  Forum: By Share Code

mullokintyre
Posted on: May 19 2020, 10:44 AM


Group: Member
Posts: 2,498

Yea.
Mick
  Forum: By Share Code

mullokintyre
Posted on: May 19 2020, 10:33 AM


Group: Member
Posts: 2,498

Ok, made it to .026, which was my target so I am out.
Now looking at what sort of drone I am allowed to buy (must have a release mechanism to drop my bait beyoond the breakers).
Mick
  Forum: By Share Code

mullokintyre
Posted on: May 19 2020, 09:29 AM


Group: Member
Posts: 2,498

Another example of the law of uninteded consequences.
Adam Creighton in The OZ


QUOTE
James Stratton, an Australian economist at Harvard, recently estimated that about two-fifths of jobs in Australia could be performed at home, and not all of them well. “Lower-income Australians, less-educated Australians, and rural Australians are more likely to be in occupations that cannot feasibly be performed from home,” he said,

“High-wage employees are three times as likely to be able to work from home as low-wage workers,” Labor MP and former economics professor Andrew Leigh noted last month.

News last week that 7.6 million people, excluding 2 million-odd public servants, are dependent in full or part on the government for their income highlights how much damage mandatory lockdowns can do.

The costs of the lockdown, including joblessness and associated social and economic pain, both during and after, will fall mainly on the young and less educated.

New analysis by economists at New York University released last week found lockdowns were likely to induce an L rather than a ­V-shaped recession, because of “long-lasting negative effects on unemployment”.

They found the “lockdown disproportionately disrupts the employment of workers who need years to find stable jobs”.


The problem is for these mostly white elite well paid employees "working from home" is that having proved how it is more desirable in many ways to have their employees work from home, some companies will work out that it is even more desirable to have employees working from home when their home is in low paid economies like Thailand, the Phillipines, Vietnam or more likely India. We have already seen it with call centres and help desks.
it might be even tempting enough for a government to try it with some of their public servants.
The elites may find themselves out of a job.

Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: May 18 2020, 06:42 PM


Group: Member
Posts: 2,498

The link below contains an excellent analysis of the different actions and very different results achived in California and New York


A tale of two cities
Its too long to cut and paste, but still well worth the read.
\

Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: May 18 2020, 03:28 PM


Group: Member
Posts: 2,498

An interesting application of the law of unintended consequences was highlighted in the OZ today.
Seeing as so many people are working from Home now, what happens if you trip and fall in your new workspace?
Are you covered by Workcover?
Will workcover premiums go up down or stay the same?
With all these new workplaces, will the workplace health and safety inspectors be allowed to check it out?
And if they are, who pays for any alterations to a "dangerous environment" identified in the new workplace?
What happens if you do not want unsightly rails , barriers, warning signs etc erected i your home?
Ah, ya gotta love the law of unintended consequences
Mick
  Forum: Investment Discussion

mullokintyre
Posted on: May 18 2020, 12:34 PM


Group: Member
Posts: 2,498

Now up 20% on rather large volume.
Odd thing is, SVL don't actually poduce any Silver, they just talk about it a lot.
Can't argue with Mr Market though!
Sold some down, 30% in two days is too good to be true, but I'll take it.
Mick
  Forum: By Share Code

mullokintyre
Posted on: May 18 2020, 10:27 AM


Group: Member
Posts: 2,498

BLD is a stock that has not really recovered from the big virus induced sell off.
After spending most of last year moving between 5 and 5,50, it plunged below 2 bucks in the big sell off.
At todays price of 2.50, it is still barely half of where it was lat year.
The Vic govt has announced a 2.5 billion construction blitz to get the economy going (or to line the pockets of theCFMEU and ultimately the ALP).
Either way, this should be good for the likes of BLD.
I would suggest that NSW and to a lesser extent the other states may well follow suit.
Have taken a small introductory parcel just in case.
Mick
  Forum: By Share Code

mullokintyre
Posted on: May 18 2020, 10:18 AM


Group: Member
Posts: 2,498

Gold smashed the 1700 USD level, and the asian markets are pushing it towards the 1800 level.
Lifes good.
Mick
  Forum: Macro Factors

mullokintyre
Posted on: May 18 2020, 10:18 AM


Group: Member
Posts: 2,498

Gold smashed the 1700 USD level, and the asian markets are pushing it towards the 1800 level.
Lifes good.
Mick
  Forum: Macro Factors

mullokintyre
Posted on: May 18 2020, 10:18 AM


Group: Member
Posts: 2,498

Gold smashed the 1700 USD level, and the asian markets are pushing it towards the 1800 level.
Lifes good.
Mick
  Forum: Macro Factors

mullokintyre
Posted on: May 18 2020, 10:15 AM


Group: Member
Posts: 2,498

And now nudging 17, at 16.89.
The paper traders may still yet crunch it back again, but heck, I am enjoying the ride.
Will be interesting to see the next COT report.
Mick
  Forum: Macro Factors

mullokintyre
Posted on: May 18 2020, 10:15 AM


Group: Member
Posts: 2,498

And now nudging 17, at 16.89.
The paper traders may still yet crunch it back again, but heck, I am enjoying the ride.
Will be interesting to see the next COT report.
Mick
  Forum: Macro Factors

mullokintyre
Posted on: May 18 2020, 10:15 AM


Group: Member
Posts: 2,498

And now nudging 17, at 16.89.
The paper traders may still yet crunch it back again, but heck, I am enjoying the ride.
Will be interesting to see the next COT report.
Mick
  Forum: Macro Factors

mullokintyre
Posted on: May 18 2020, 10:11 AM


Group: Member
Posts: 2,498

Well, up another 15% today.
Chewing thru those guys at .115
Big bag of buyers queing up.
May well be a very pleasant day.
Mick
  Forum: By Share Code

mullokintyre
Posted on: May 17 2020, 08:37 PM


Group: Member
Posts: 2,498

It seems that Hipocracy is alive and well in many places.



Here is a tweet reporting that Pascal Saint-Amans – Director for the OECD Centre for Tax Policy and Administration – believes that a post-COVID world will have zero tolerance for tax avoidance.

Of course when you don't pay tax yourself, its ok to demand that everyone else does.

from the OECD perks page

"The basic salary is specified in the offer letter and is payable in euros, as are all other allowances (family-related allowances, expatriation and installation). Emoluments (basic salary and allowances) are payable in arrears, with the exception of the installation allowance which is payable on taking up duty.
Emoluments are exempt from taxation in most Member countries of the Organisation, including France."

Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: May 17 2020, 08:37 PM


Group: Member
Posts: 2,498

Duplicate post
  Forum: Off Topic Chat

mullokintyre
Posted on: May 17 2020, 05:53 PM


Group: Member
Posts: 2,498

Musk has threatened to shift production of Teslas from California to Texas, because , well, Texas doesn't have sever lockdowns.
Methinks its just a ploy , as the lockdown will probably be over by the time they even lay the foundations for the new factory.
But on another front, Volkswagen has popped up as real threat to Musk.
from Zero Hedge
One could argue there's significant overlap to the types of car buyers that would consider both Tesla and Volkswagen brands. Both brands offer unique engineering and sleek designs. But up until now, only Tesla was
QUOTE
offering an EV.

Enter the Volkswagen ID3, which, with a price point of $33,000 possibly represents the biggest challenge to Tesla's dominant EV status yet. The vehicle goes on sale in Europe and the UK this summer, despite the coronavirus and offers the same amount of range and storage space as a Tesla Model 3.

The ID3 is going to offer three different battery choices and two power outputs. It has a claimed range of 260 miles.

Volkswagen has been taking pre-orders for the car and more than 35,000 people have placed deposits so far, according to Autocar. Those who placed deposits will be able to buy their cars starting June 17 in Europe. The UK will follow in mid-July due to the time it takes to get approval for right hand drive models.

Volkswagen sales boss Jürgen Stackmann says deliveries are on track and that the ID3 is the company's sole focus right now: “The focus of the company now is on ID 3. We’re almost ready, and we just need a few more weeks to get the software to where we need it to be. The entire team are working on this topic, and we want to deliver a great quality product on time – and that time is this summer.”

Volkswagen is aiming to build 100,000 ID3s this year and prices in the will start from around £27,500 before the government grant for the entry-level 45kWh version.

The storage capabilities of the ID3 make it a formidable competitor to the Model Y. The ID3 also features two digital dashboard displays and, as Business Insider says "...seems to offer a bit more familiarity" than the Tesla Model 3.
It also offers adaptive cruise control and lane assist, similar to Tesla's autopilot. And again, the price point could be the car's best selling point. Its $33,000 (USD) tag compares to about $48,000 for the Model 3 and $52,990 for the Model Y.

It was only matter of time before one of the existing car makers came up with something that will really challenge Tesla.
They have existing dealer networks, spare parts distribution systems, and brands that are highlyt recognisable.
Will be interesting.
Mick
  Forum: Investment Discussion

mullokintyre
Posted on: May 15 2020, 02:38 PM


Group: Member
Posts: 2,498

QUOTE
you beat me to it, Mick

It's just that I type faster , but less accurately.
Mick
  Forum: Investment Discussion

mullokintyre
Posted on: May 15 2020, 02:06 PM


Group: Member
Posts: 2,498

And further to that Roger, from The ABC

QUOTE
Real estate agents say COVID-19 has sparked a new wave of enquiries from Australians interested in moving from capital cities to regional areas, as research shows a "worst-case scenario" of a 30 per cent plunge in national house prices is possible if there is a second wave of coronavirus infections.
The option of living further away from big cities has become more appealing for some Australians after the pandemic
The city exodus has yet to play out and comes as CBD rents dive and national house prices are expected to take a big hit
Whatever happens to the housing market, COVID-19 has shifted the way people think about where they live and work
As social distancing restrictions imposed due to COVID-19 ease and auction activity resumes, some are looking at the option of selling in Sydney and Melbourne to move further out.

Agents say people have become used to working from home because of the coronavirus shutdowns and distant suburbs and regional towns offer better affordability and more alluring lifestyles.

This was exactly why Tom and Angelique Godfrey moved in March from their four-bedroom house with a pool in Sydney's Botany, to a 25-acre farm in the Kanimbla Valley.

Mr Godfrey said the family had long considered moving to the property, which he and his brother Sandy inherited from their father in the early 1990s.

"We always had one foot in the country," Mr Godfrey said.

"When COVID-19 hit, it was an opportunity to reassess."

The family had already been contemplating the move as Angelique was diagnosed with Parkinson's disease and they wanted a less stressful lifestyle.

"We previously had had a gelato cart business in the city — and that required me to be there," Mr Godfrey said.


Living in a regional area of North Victoria, I hope the exodus doesn't get too serious, we don't have the infrastructure to cope.
Might have to start renovating that old house I bought next door, but then again, I might get crappy neighbours.
Mick
  Forum: Investment Discussion

mullokintyre
Posted on: May 15 2020, 01:37 PM


Group: Member
Posts: 2,498

Yeah, the last life of mine update I read from was from DCN, and look how well that went!
Mick
  Forum: By Share Code

mullokintyre
Posted on: May 15 2020, 01:15 PM


Group: Member
Posts: 2,498

I think the realisation that business will never be the same is slowly starting to gather pace.
Talking to a few colleauges in the IT industry, most are saying that they have found that first of all, productivity goes up.
Secondly, the idea of having online meetings has produced two results:
(a) the realisation that the number of meetings can be curtailed.
It also has dawned on them that those meetings that do take place can be significantly shorter, with only those absolutely required to be in the zoom. no more attendees just because it might be a good idea.
(b) The amount of travel has been cut down.
This second result has worked in a number of ways.
Firstly, the cost to the company of air fares, accomodation, taxis etc has almost been stopped.
On top of this, the average of six hours in travel time that is taken up in a standard one day tri[ between Sydney and Melbourne can be spent by the employee in either productive work or leisure time at no further expense to the company.
Secondly, the costs to the employees has reduced. My nephew who works in It for a Govt agency said he is saving $300 a month in travel costs in commuting to city offices from his home. And once again, the freeing up of unproductive time is a win win for employee and employer.

One guy who works for an IT service provider said that the lockdown has so changed their business, that the company has decided that no matter when the Vic government eases all the restrictions, they will be staying with the remote lockdown model for at least the next 12 months and possibly longer. he says he really misses the social contact with work colleauges, but it may mean that socialising with them is done separate to the work environment. The company is even suggesting that salary increases and extra time off be given to do just that, such has been the increase in productivity.
Al those large Kings carparks may find their business model is down the drain, along with the airlines, Toll road operators, and even public transport operators.
Interesting times ahead.
Mick
  Forum: Investment Discussion

mullokintyre
Posted on: May 15 2020, 11:16 AM


Group: Member
Posts: 2,498

Now nudging 16.
Good recovery from the initial disaster that was the Covid19 stock crash when it was below 11.
Have no idea as to how much higher it will go.
I plan to sell a bit every time the price in AUD rises by 10%.
M
  Forum: Macro Factors

mullokintyre
Posted on: May 15 2020, 11:13 AM


Group: Member
Posts: 2,498

RMS powered thru a 12 month high.
All of my goldies well up today, an unexpected pleasure.
mick
  Forum: By Share Code

mullokintyre
Posted on: May 15 2020, 10:35 AM


Group: Member
Posts: 2,498

Well, its surging now.
There was a big block of over a mill shares at .095.
Chewed them all up this morning, and now up 8% today.
It has been some time since the buy side was even close to the sell side, much less greater than sells.
Next block is 1.3 mill at.105.
After that I am looking to offload above 14.
Go silver!

Mick
  Forum: By Share Code

mullokintyre
Posted on: May 15 2020, 07:54 AM


Group: Member
Posts: 2,498

Silver may be poised for a rise.

From Kitco


QUOTE
In terms of the speculative positioning in silver, there is still a lot of room for buying, Orchid Research noted.

“Speculators cut by the equivalent of 403 tons their net long position in COMEX silver in the week to May 5, according to the CFTC … The net spec length is at just 17% of open interest, markedly below its all-time high of 57% of open interest. This suggests a very light positioning, meaning there is plenty of room for additional speculative buying once sentiment shifts positively,” the post said.

Also, ETF demand for silver is projected to rise in Q2, which would have a positive impact on prices, Orchid Research added.


Silver warehouse stocks continue to be close to critical as more buyers of the silver coins emerge with a distinct lack of sellers.
As Industrial production starts to pick up, Silver consumption will increase.
A lot of the medical equipment being made have silver coatings as an anti bacterial.
You can even buy silver impregnated socks to stop your smelly feet! (see Nanao silver socks) )

Mick
  Forum: Macro Factors

mullokintyre
Posted on: May 14 2020, 04:35 PM


Group: Member
Posts: 2,498

Part of the problem lies in Fauci's own words.

QUOTE
Responding to the Senator, Fauci stressed there were still many things scientists did not understand about the virus.

"I have never made myself out to be the end-all and only voice in this," he said.

"I'm a scientist, a physician and a public health official. I give advice according to the best scientific evidence.

"I don't give advice about economic things, I don't give advice about anything other than public health.

"We don't know everything about this virus. And we really better be very careful, particularly when it comes to children. Because the more and more we learn, we're seeing things about what this virus can do that we didn't see from the studies in China or Europe."

Fauci pointed to the example of young children, infected with the coronavirus, who have presented with a "very strange inflammatory syndrome", similar to Kawasaki disease.

"I think we'd better be careful if we are not cavalier in thinking that children are completely immune to the deleterious effects," he said.

"I don't know everything about this disease, and that's why I am very reserved about making broad predictions."


He puts the case from a medical viewpoint.
But the people who have to make decisions - in this case the POTUS, have to consider many viewpoints.
Economic, social, religious, political, security to name just a few.
Some are more valid than others, but in the end someone has to weigh up all the viewpoints and try to come up with the best response.
The various special interest groups who all think that their viewpoint should be paramount, are vying to push their own viewpoint.
No matter what decisions are made, there will be plenty of criticism.

Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: May 14 2020, 04:22 PM


Group: Member
Posts: 2,498

The Chinese can mess with any market, but people still have to eat.
Mick
  Forum: By Share Code

mullokintyre
Posted on: May 14 2020, 04:20 PM


Group: Member
Posts: 2,498

Ya could be right BG, I am kinda thinking we had the pull back over the last month.
Lots of CB's setting negative real interest rates, QE in pretty much every economy in the world, inflationary pressures starting to appear in foodstuff, and most economies in recession.
As investors get less enamoured with fiat currencies, the PMs will look more attractive.
Mick
  Forum: By Share Code

mullokintyre
Posted on: May 14 2020, 12:08 PM


Group: Member
Posts: 2,498

And making more highs.
Gold might be ready for another rally.
Mick
  Forum: By Share Code

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


Group: Member
Posts: 2,498

And obviously Mr Market liked the results as much as I did.
Up 17% so far this morning, with plenty of buyers lined up.
Noice.
Mick
  Forum: By Share Code

mullokintyre
Posted on: May 14 2020, 10:12 AM


Group: Member
Posts: 2,498

Good half yearly results from GNC.
Much to my surprise, profit is up on the previous year, despite the severe drought in OZ.
With the great start to the Autumn so far, grain in particular is looking good so far.
Very low debt ratio, but like everyone else, is not paying a divvy this year.
People still need to eat, and there is very little more staple or basic than grains.
If this keeps up should be a bumper year for GNC.
Mick
  Forum: By Share Code

mullokintyre
Posted on: May 13 2020, 09:35 PM


Group: Member
Posts: 2,498

SCT on ASX is Scout Security.
I resume SCT as in Scott Technology is on the new Zealand exchange.
perhaps just for once, Plastic might be able to provide some useful information??
Mick
  Forum: NZX

mullokintyre
Posted on: May 13 2020, 07:53 PM


Group: Member
Posts: 2,498

They know a lot about the pointy end where first class exists.
Mick
  Forum: By Share Code

mullokintyre
Posted on: May 13 2020, 06:57 PM


Group: Member
Posts: 2,498

According to The ABC

QUOTE
The state-owned Queensland Investment Corporation (QIC) is set to make an official bid for a stake in Virgin Australia after the airline went into voluntary administration last month.

Queensland Treasurer Cameron Dick released a statement confirming the move to save the airline and retain its headquarters in Brisbane.

Mr Dick said it could take the form of a direct equity stake, a loan, a guarantee or other financial incentives.

"We have been very clear — two sustainable, national airlines are critical to Australia's economy," Mr Dick said in a statement.

"We have an opportunity to retain not only head office and crew staff in Queensland, but also to grow jobs in the repairs, maintenance and overhaul sector and support both direct and indirect jobs in our tourism sector.

"We saw the punishing increase to the cost of flights after the Ansett collapse, and this Government will not stand by and let that happen again."


Not sure if this is such a good idea. They will still be a minority shareholder at best.

Buying jobs has never ended well, no matter what level of government we are talking about.

Mick
  Forum: By Share Code

mullokintyre
Posted on: May 13 2020, 02:50 PM


Group: Member
Posts: 2,498

And I should have added to the list below, that fuel is the cheapest its been for a long time, and like;ly to stay that way for the forseeable future.
Plus the owners of the bvig airports are not likely to require a mortgage on fort knox to obtain a slot at the airport, nor charge high fees for seices such as parking.
And theres probably a few more I haven't even thought of.
Mick
  Forum: By Share Code

mullokintyre
Posted on: May 13 2020, 02:34 PM


Group: Member
Posts: 2,498

An interesting announcement from REX that it is expanding into becoming a domestic carrier, as distinct fro its regional routes.
From THE OZ

QUOTE
Regional airline Regional Express says it could be operating its own domestic services by March next year.

In a statement released to the market on Wednesday, Rex said it was exploring the feasibility of its own domestic services in the wake of Virgin’s collapse, saying it would require equity funding of around $200m.

Rex said it was talking to several parties about backing a $200m capital raising to support a capital city expansion plan set to take shape over the next two months.

The airline said it was seeking to have a high capacity qualification added to its air operators certificate to support the plan, which would reportedly involve leasing 10 narrow-bodied jets to add to its existing turboprop fleet.

Investors welcomed the news sending the airline’s shares up almost 30 per cent to $1.16 after tehy resumed trading following a halt called on Tuesday.



This makes sense for many reasons.
Firstly, its fleet of aging SAAb 34's will need replacement. Its average fleet age is around 24 years, and the aircraft are longer being made. The older 34's could be eased out and gradually replace by regional jets.
Secondly, it gives a better career path fro its pilots to go from turbine to jets. They may see less cannablising of their staff to larger airlines.
Thirdly, there are legions of unused jets everywhere that could be leased for a pittance, so no great capital outlays.
Fourthly, there are legions of crews to fly and maintain these jets.
Fiftly, it sends a message to QANTAS and VA, that they will have more compettion.
Sixthly, the potential buyers of VA will start thinking that VA may not be such a good deal ( would be good for QF and REX if VA never returned). and as corrollary to that, if VA were cheap enough, REX Singapore owners would be able to get in a lowballbid for the entire airline.
And finally, John Sharp their chairman has very close links with the government, and seems to be able to squeeze funding for refional areas that benefit REX greatly.
Mick
  Forum: By Share Code

mullokintyre
Posted on: May 13 2020, 02:16 PM


Group: Member
Posts: 2,498

Never let ethics, morality, good governance, being friendly etc etc get in the way of a dollar.
Mick
  Forum: Investment Discussion

mullokintyre
Posted on: May 12 2020, 09:42 PM


Group: Member
Posts: 2,498

Investors are dumb as dishwater.

From Wolfstreet

QUOTE
Uber Lost $3 Billion on $3.5 Billion in Revenues. Fake “Profitability” Delayed. Another Quarterly Horror-Show. Markets Eat it Up
by Wolf Richter • May 7, 2020 • 143 Comments
This hoped-for fake “profitability” isn’t profitability, but “Adjusted EBITDA,” Uber’s own homemade creature.
By Wolf Richter for WOLF STREET.
Uber – which announced another round of mass-layoffs this week of 3,400 folks or 14% of its staff – reported another classically horrendous quarterly loss this evening.

Revenues rose 14% in the first quarter, ended March 31, to $3.5 billion. But operating expenses, despite cost cuts and the series of layoffs, jumped by 16% to $4.8 billion. And there were “other expenses” of $1.8 billion and interest expenses of $118 million, a tax benefit, and a couple of other things. And the net loss tripled to $2.94 billion.

It’s astounding that investors don’t throw in the towel on a company that is over 10 years old and has many thousands of employees but still loses nearly $3 billion on $3.5 billion in revenues.

In Q1 2019, its last pre-IPO quarter, Uber lost $1 billion on $3.1 billion in revenues, according to its earnings report today. In Q1 2020, it lost $3 billion on $3.5 billion in revenues. This is not a propitious trend.


Almost as silly as investing in oil explorers.
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: May 12 2020, 09:33 PM


Group: Member
Posts: 2,498

Its one of many conundrums.
I could never really understand why what they call mining (the solving of complex maths) , is anything but a scam.
They produce nothing tangible, use more and more resources to "mine" them, and the rewards get smaller ovee time.
It is such a great pity that the genius of The blockchain technology was not used in creating something a little more worthwhile.
Mick
  Forum: Investment Discussion

mullokintyre
Posted on: May 12 2020, 10:30 AM


Group: Member
Posts: 2,498

And the Aus China relationship is not getting along all that well either.
QUOTE
China has imposed an import ban on four Australian abattoirs in an apparent escalation of Beijing's trade war tactics.

The blacklisting of the red meat abattoirs - three in Queensland and one in NSW - comes just days after China flagged plans to introduce an 80 per cent tariff on Australian barley, bringing the trade to its knees.


So what do we do in response??
Do we do as we have always done, ignore the flaming and wait for the diplomatic repairs, or do we say, thats fine two can play at that and put tariffs on Chinese stuff.
I am inclined to fight fire with fire.
By making the Chinese imports far more expensive, we can make the possibility of us making more of our own stuff right here in oz.
Just like we used to before the economic experts said it was a good idea to lower tariffs, as they were a barrier to trade.
Maybe we do a trade deal with Taiwan and really piss em off.
Mick
  Forum: Investment Discussion

mullokintyre
Posted on: May 10 2020, 07:56 PM


Group: Member
Posts: 2,498

The pair of you guys make little sense.

Mick
  Forum: Investment Discussion

mullokintyre
Posted on: May 10 2020, 11:52 AM


Group: Member
Posts: 2,498

Now that scientists have done some further research, a few surprising things have emerged.
From the Australian

1. It would appear that the virus was active much earlier than initally suggested.

QUOTE
Scientists have begun narrowing down how the coronavirus is spreading, and also pinpointing when it first began transmission around the world — and it’s earlier than first thought.

University College London’s Genetics Institute have screened the genomes of more than 7500 viruses from infected patients around the world.

“Phylogenetic estimates support that the COVID-2 pandemic started sometime around October 6, 2019 to December 11, 2019, which corresponds to the time of the host jump into humans,” lead researcher Francois Balloux said.
Anecdotally in the UK there appeared to be many people struck down with mystery fevers in mid to late December.

Two of my family members, living hundreds of kilometres apart from each other, were so sick with fever they attended hospital.

One, who fell ill in mid December having just returned from Saudi Arabia, had blood tests at the local hospital after suffering six days of fever and started to develop a rash on his extremities and face. He was told he had a mystery virus and he then had headaches for a fortnight that were so severe it prompted another rare visit to the doctor.

The other was sick throughout Christmas and had chest X-rays and was diagnosed with a form of pneumonia. Again it’s uncertain if these cases were coronavirus or an unusual flu-like illness.

But when British journalist Allison Pearson tweeted that she believed the virus may have been around before January she was inundated with hundreds of people believing they may have already had the virus, having suffered unusual fevers and pneumonia.

The South China Morning Post reported in mid-March that the earliest known case was a 55-year-old man from Hubei Province diagnosed on November 17, and said China had 60 confirmed cases by December 20.

A study by French scientists published last week found a man in France was infected with COVID-19 as early as December 27, which was weeks before French health authorities confirmed the country’s first case.

The World Health Organisation said the French finding was “not surprising” and countries have been urged to re-test unusual samples taken from patients in late 2019.


2. There are not multiple versions of the virus spreading around the world, they are all fairly genetically similar.

Prof Balloux’s study also found almost 200 recurrent genetic mutations of the new coronavirus — SARS-CoV-2 — but dispelled suggestions there were three different strains of the virus around the world.n a tweet on Saturday Professor Balloux said: “There are no ‘S’, ‘G’, ‘European’, ‘American’ or whatnot #SARSCoV2 lineages. All such classifications are arbitrary and largely meaningless. Two random #SARSCoV2 genomes in circulation today are less than 10 mutations apart. This is a ‘largely clonal population’ at this stage.” He added: “The mutation rate of #SARSCoV2 is largely unremarkable for an RNA virus and has been estimated to ~18 mutations/genome/year. A strain in circulation today is on average ~10 mutations away from its ancestor that jumped into humans in Oct/Nov 2019.”




3. The physical transmission process requires contunuous close contact between transferees and the victims

QUOTE
Meanwhile Dr Muge Cevik, a virologist from the University of St Andrews, said a tranche of studies that have traced close contacts of confirmed coronavirus cases have shown transmission is highest among close family members, with the risk factors being homes, transport and indoor settings where people congregate.

She noted that susceptibility to contract the virus increased with age, as older people within households had a much higher infection rate than children.

She believes that close and prolonged contact is needed for the virus to transmit and so the risk is highest in enclosed environments.

Outdoor transmission is believed to be very low — below five per cent. Casual and short interactions are not the main driver of transmission, nor is contact with children, raising question marks about the UK’s insistence on having a 2m social distancing rule.



Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: May 10 2020, 09:11 AM


Group: Member
Posts: 2,498

They forgot another key on the qwerty .
Its called a \

Mick
  Forum: Investment Discussion

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


Group: Member
Posts: 2,498

Nah, hes a politician who let the girl take the heat for the ruby princess inquisition from Brett walker.
Standard fare from them.
Got nothing going for him - white, male, conservative .

Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: May 7 2020, 09:30 PM


Group: Member
Posts: 2,498

There are many ways to get around ithe app.
The simplest is of course to turn off bluetooth.
The other option is to leave the phone in the car.
Ans of course once the restrictions are lifted, you delete the app.
Mick
  Forum: Investment Discussion

mullokintyre
Posted on: May 7 2020, 02:13 PM


Group: Member
Posts: 2,498

May get another speeding ticket, up 22% today on some above average volume.
This may provide my buy a new drone money.
Mick
  Forum: By Share Code

mullokintyre
Posted on: May 7 2020, 10:55 AM


Group: Member
Posts: 2,498

It seems that the cures/fixes/treatments are coming out of the woodwork.
Now it seems activated copper is the go.
from the The Australian
QUOTE
A Darwin-based 3D printing company has developed a technique for coating door handles and other surfaces in copper that it says kills 96 per cent of the virus responsible for COVID-19 in just two hours.
The technology is claimed to kill 96 per cent of the virus.
The company, Speed3D, describes the technology as “activated copper” and recently deployed it at the Northern Territory Department of Trade, Business and Innovation.

“The Australian NATA accredited clinical trial speciality laboratory, 360Biolabs, tested the effect of ACTIVAT3D copper on live SARS-CoV-2 and results showed that 96 per cent of the virus is killed in two hours and 99.2 per cent of the virus is killed in 5 hours. Stainless steel showed no reduction in the same time frame,” a statement said.

Speed3D claims to be able to coat door handles and touch plates in under five minutes and says its innovation has sparked global interest from other firms looking to protect their customers and staff against deadly coronavirus.

Separate research has previously suggested that SARS-CoV-2 can survive on hard surfaces for several days, creating a contamination risk in common areas. Cheap copper coating might offer a partial solution.


Need to do some research on what is the difference between regular copper, and "Actibvated copper".
Unfortunately, the very first reference to activated copper is from a role playing game. "Activated copper occurs in regular copper deposits from Yellow Star systems ".

Not a good start so far.
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: May 6 2020, 02:39 PM


Group: Member
Posts: 2,498

The unfortunate NSW Epidemiologist Kerry Anne Ressler seemed to be taking the brunt of the blame for the screw up that became the Ruby princess Pandemic.

Brett Walker went pretty hard on her in the witness box, it remains to be seen if he goes equally hard on the well paid bureacrats higher up the food chain who mad all the decisions and left the young lady to carry the can.


Meanwhile in Victoria, Dancing Dan and his angry sidekick Brett Sutton, are starting to feel the heat over what is becoming a similar screw up to the Ruby princess fiasco.
The logic of naming sites where only 1 infection has occurred, but refusing to name the site where at the time 15 had occurred does not gell.
Particularly given the fact that the site had been a donor to the Labour party.
It must have been just a coincidence.
But then to not check other workers for the virus because the worker said he had not been at work during the infectious time defies belief.
All it took was for a phone call to the meatworks to check.
From the first case found on April 2nd, it took until another worker went to hospital with a severed thumb and was diagnosed as covid 19 positive on April 27th. By then numerous people were infected. And it was only because the owner of the meatworks made it mandatory for all staff to be tested, We are now up to nearly 50 cases of people connected to the meatworks as infected. There are likely to be more.
This balls up has got a bit more to play out yet.
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: May 6 2020, 02:08 PM


Group: Member
Posts: 2,498

Ah, Hypocricy at its very finest.
From ABC News

QUOTE
A former journalist who threatened to behead members of a Canberra church has walked free from sentencing in the ACT Magistrates Court today.

James Michael Waugh, 29, had used social media to threaten several people, including a Canberra woman with whom he had had a brief relationship.

A selfie of a man wearing glasses and looking serious.
James Waugh pleaded guilty to threatening to kill Christians last year.(Twitter)
Waugh's messages to the woman after she ended their relationship included a suggestion she should be gutted and fed to dogs.

Spurred by extreme religious views, Mr Waugh also said he would behead church members with a scimitar, which he had bought from Pakistan.

"Do not approach me in the street if you see me because I will attack you," Waugh wrote on a Facebook group chat site.

"I have issued threats, along with my name and address, to every coward dog church in Canberra."


The guy had already skipped bail and fled to Queensland, but it didn't seem to matter.

Got two and a half years, wholly suspended after already spending 5 months on remand.

Can you imagine if this loonie was a Muslim, he would still be languishing in jail by now.

One rule for white boys, another for muslims.

Mick

  Forum: Off Topic Chat

mullokintyre
Posted on: May 6 2020, 01:19 PM


Group: Member
Posts: 2,498



QUOTE
For one thing, let us be sure that the 1957 type of A influenza virus is innocuous, as early returns show, and that antibiotics can indeed control the complications that may develop.”

This is rubbish. Antibiotics are definitely not the treatment for viruses ......... as far as I know.


I read it as saying that antibiotics can control the complications, rather than the virus itself.
This may be true for some complications , but not all.
The Eitoriial was written in 1957, when they knew even less about virus's, the immune system and antibiotics.
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: May 6 2020, 10:10 AM


Group: Member
Posts: 2,498

From American Economist

QUOTE
The year was 1957.

Elvis’s new movie “Jailhouse Rock” was packing the theaters. The last episode of “I Love Lucy” aired on television. The show “West Side Story” held tryouts in Washington, D.C., and opened on Broadway in September. Ford’s new car the Edsel rolled off the assembly line. The Cold War with Russia was on and “In God We Trust” appeared on U.S. currency. The first Toys R Us store opened.

Also that year, the so-called Asian Flu killed 116,000 Americans. Here is the full summary from the Centers for Disease Control:

In February 1957, a new influenza A (H2N2) virus emerged in East Asia, triggering a pandemic (“Asian Flu”). This H2N2 virus was comprised of three different genes from an H2N2 virus that originated from an avian influenza A virus, including the H2 hemagglutinin and the N2 neuraminidase genes. It was first reported in Singapore in February 1957, Hong Kong in April 1957, and in coastal cities in the United States in summer 1957. The estimated number of deaths was 1.1 million worldwide and 116,000 in the United States.

Like the current pandemic, there was a demographic pattern to the deaths. It hit the elderly population with heart and lung disease. In a frightening twist, the virus could also be fatal for pregnant women. The infection rate was probably even higher than the Spanish flu of 1918 (675,000 Americans died from this), but this lowered the overall case fatality rate to 0.67%. A vaccine became available in late 1957 but was not widely distributed.

The population of the U.S. at the time was 172 million, which is a little more than half of the current population. Life expectancy was 69 as versus 78 today. Even with shorter lives, it was a healthier population with lower rates of obesity. To extrapolate the data to a counterfactual, we can conclude that this virus was more wicked than COVID-19 thus far.

What’s remarkable when we look back at this year, nothing was shut down. Restaurants, schools, theaters, sporting events, travel – everything continued without interruption. Without a 24-hour news cycle with thousands of news agencies and a billion websites hungry for traffic, mostly people paid no attention other than to keep basic hygiene. It was covered in the press as a medical problem. The notion that there was a political solution never occurred to anyone.

[Note of correction. A correspondent pointed out to me that “The October 1957 LDS General Conference was cancelled because of the flu epidemic in 1957 and there may have been other organizations that did so.” I’m grateful for the correction, and it makes the point: society was not ignorant of the pandemic. Instead, there was a variety of intelligent responses depending on the risk. I’m speculating that this event would have included quite a number of people on the list of the vulnerable.]

Again, this was a very serious flu, and it persisted for 10 years until it mutated to become the Hong Kong flu of 1968.


The New York Times had some but not much coverage. On September 18, 1957, an editorial counseled: “Let us all keep a cool head about Asian influenza as the statistics on the spread and the virulence of the disease begin to accumulate. For one thing, let us be sure that the 1957 type of A influenza virus is innocuous, as early returns show, and that antibiotics can indeed control the complications that may develop.”

The mystery of why today vast numbers of governments around the world (but not all) have crushed economies, locked people under house arrest, wrecked business, spread despair, disregarded basic freedoms and rights will require years if not decades to sort out. Is it the news cycle that is creating mass hysteria? Political ambition and arrogance? A decline in philosophical regard for freedom as the best system for dealing with crises? Most likely, the ultimate answer will look roughly like what historians say about the Great War (WWI): it was a perfect storm that created a calamity that no one intended at the outset.


Not completely sure the current events and the 57 event can be compared quite so simply, but an interesting comparison nonetheless.

Mick
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: May 6 2020, 08:59 AM


Group: Member
Posts: 2,498

Conflict of Interest? What conflict of Interest!

QUOTE
Most Americans likely assume that Jerome Powell, the Chairman of the Federal Reserve, is an economist, like the prior chairs of the Fed over the past 40 years. He’s not. Powell is a former investment banker at the Wall Street firm, Dillon Read; a former partner at the controversial private equity and leveraged buyout firm, the Carlyle Group, which has spent over $1 billion over the past decade lobbying the federal government; and a former lawyer at Davis Polk, a Big Law firm that played a key role advising the government and Treasury in the 2008 Wall Street bailout.

Powell’s background would be strange enough but now consider this. The Vice Chairman for Supervision at the Fed, Randal Quarles, who is in charge of supervising the largest and most dangerous Wall Street bank holding companies in the U.S., has an uncannily similar background to Powell. Quarles also worked previously at Davis Polk and the Carlyle Group. (Powell and Quarles are also good friends, according to Senator Elizabeth Warren.)

Both men were well schooled in leveraged buyouts before coming to the Fed. Both men are now involved in what is effectively levering up $454 billion of taxpayers’ money provided to the Fed under the recently passed CARES Act into a $4.5 trillion leveraged buyout fund of toxic debt from Wall Street banks. After taxpayers’ take the first $454 billion in losses on those purchases, the remainder may be sold off to private investors. If this sounds to you like a set-up on behalf of the one percent, it should.

Powell is a member of that one percent class. According to his 2019 financial disclosure, his net worth could run as high as $55 million. Much of his investments are with Goldman Sachs (a Wall Street bank that is supervised by the Fed) or with BlackRock and its iShares Exchange Traded Funds (ETFs). The government mandated financial disclosures report investment values in a range. The upper value of Powell’s holdings with BlackRock is $11.6 million. The upper range of Powell’s holdings with Goldman Sachs is $16.55 million. The name Goldman Sachs has been shortened to “GS” in the disclosure document.

These would appear to be large conflicts of interest. BlackRock has been selected to manage the unprecedented buying of both investment grade and junk bonds on behalf of the Fed to the tune of approximately $750 billion according to the most recent term sheet from the Fed. Even more conflicted, the Fed will allow BlackRock to buy up its own sinking junk bond ETFs using taxpayer and Fed money.


MSM don't seem to think any of these things matter.
Mick
  Forum: Investment Discussion

mullokintyre
Posted on: May 6 2020, 08:18 AM


Group: Member
Posts: 2,498

According to the New york times,

QUOTE
A Kentucky woman was caught on video shopping with a hole cut in the middle of her protective mask which she claimed made it “easier to breathe.”In the video, Joe Samaan, a gas station clerk at S J Food Mart in Lexington, sees a woman entering the shop with a torn mask.

“Where did you get that mask from?” he asks the woman when she approaches the counter to pay for gas.

“Well, since we have to wear them and it makes it hard to breathe, this makes it a lot easier to breathe,” she replies.

“Cutting it?" the clerk replies. "Yeah, I’ll do that too, thanks for the advice.”

The woman then leaves the store.

I rest my case.
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: May 4 2020, 04:03 PM


Group: Member
Posts: 2,498

The culture is set from the top yes.
The 4 you mention are equally as guilty.
But it permeates thru the organisation.
As with any organisation, the people at the top surround themselves with people who think like they do.
So in the end you have groupthink.
Individual thought is discouraged, sometimes even punished.

The opposition, both at state and Federal levele do not get a look in in this time of crisis,
They are irrelevant.
Parliament closed, the premier rules by decree, and what really alarms me, is the way the public servants such as Sutton, and Murphy start saying what can and cannot be done.
The elected representatives should be making those decisions, not unelected and so called independent public servants.
There are dangerous precedents being set that do not sit well with my "small l" liberal thoughts.
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: May 4 2020, 02:08 PM


Group: Member
Posts: 2,498

Whatever faith I may have had in the Victorian police is all but gone.
Firstly we had the fiasco of of the infighting between the Commissoner and the Police Union (Nixon, Overland, Mullett et al).
Then we have the bizarree buck passing between the top brass over the at best injudicious, at worst corrupt , recruiting of Defence barrister Gobbo as a snitch.
There was the case of officers putting stickers over their body camera lenses during protests. in 2019.
Then the case of mistaken identity when the police broke the arm of a bloke at a gay bookshop last year. And surprise surprise, the tactical squad did not wear cameras during the raid.
Then we had the ridiculous overzealous attitude of police during the lockdown (fining someone for taking their learner driver daughter out at night to practice driving being a prime example).
IBAC release a report last year suggesting there was problems with the unauthorised access of the police database by individuals for various reasons, some of which were criminal. There 135 such cases in 2016
Now it seems, that some moron has published on social media photographs taken of former AFL coach Dean Laidley dressed as a woman from inside the Police station. (Dean laidley mug shots )
What the hell was the person thinking?? if they couldn't see that this was not going to turn out well, it speaks volumes for the 'rigourous" recruitment processes for Vicpol.
There is often much discussion about "the culture" of an organisation.
Right now, the Victorian Police has a problem with its "culture".
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: May 3 2020, 01:20 PM


Group: Member
Posts: 2,498

Now that the top of the dead feline rebound is in, be prepared for the market to retest recent lows.
Armageddon here we come!
Mick
  Forum: Investment Discussion

mullokintyre
Posted on: May 1 2020, 09:55 PM


Group: Member
Posts: 2,498

Its just a F$%^%$@ train.
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: May 1 2020, 01:28 PM


Group: Member
Posts: 2,498

Thanks for that Roger, he made some good points.
I liked the bit where Gundlach says the time to buy was march 22 after the crash, not now when people think the market is recovering and will retest the highs pre march.
The corrollary to that is that having bought things at these low prices, now ist he time to take the money and run.
He expects the market to retest those March lows, a perfectly valid point.
I don't think OZ will be any different.
Mick
  Forum: Investment Discussion

mullokintyre
Posted on: May 1 2020, 01:20 PM


Group: Member
Posts: 2,498

QUOTE
Got this from the accountant this morning

JOBKEEPER PAYMENT IN A NUTSHELL

JobKeeper is a wage subsidy (Reimbursement) paid through the tax system to eligible business impacted by the Coronavirus.

Eligible Employers who are enrolled will be eligible to receive up to $1,500 per eligible employee or eligible business participant per JobKeeper Payment Fortnight between 30 March, 2020 and 27 September, 2020. The payment will be made to eligible businesses in the month following the payment of wages (so April wages will be reimbursed in May) and only after required reporting has been completed.

JobKeeper is also available to businesses which do not pay wages but have experienced a downturn in turnover for the testing periods.

Wage Subsidy Financial Examples:

1 eligible person x 13 fortnights = up to $19,500

4 eligible persons x 13 fortnights = up to 78,000

9 eligible persons x 13 fortnights = up to $175,500

As the subsidy is a self assessment program, the ATO will be applying integrity measures that permit reviews of documentation for a period of up to 5 years.

For more information on JobKeeper payments and eligibility criteria visit the ATO Website.


JOBKEEPER ENROLMENT AND STEPS

Enrolment can be done internally by your business if you have access to the ATO Business Portal or can be completed by Stubbs Wallace at your request. Monthly reporting obligations will also be required via the ATO Business Portal each month.

Steps

Check if you, as an employer, and your nominated employees meet the eligibility requirement.
Notify eligible employees that you (their employer) intend to participate in the JobKeeper Scheme.
Send your eligible employees the JobKeeper Employee Nomination Notice to complete and return to you. Confirm with eligible employees that they agree to you being the primary employer to receive JobKeeper Payments.
Keep the Employee Nomination Form on file for five years.
Pay the minimum $1,500 to each eligible employee per JobKeeper fortnight. The first fortnight starts on 30 March and ends on 12 April. Alternatively, you can make one combined payment of $3,000 for the first two fortnight (Paid by the 8 May 2020).
Enrol for JobKeeper from 20 April using the Business Portal and authenticate with myGovID.
Once enrolled, you then apply after 4th May to claim on April JobKeeper payments.
You will need to report to the ATO on a monthly basis your current and estimate turnover, and eligible employees.

Are you enrolled?
Please make sure to check you have enrolled. Many have simply registered interest which does not get you the cash subsidy. On enrolment you receive a 13-digit ATO Receipt ID and A PDF titled “Business enrolment for JobKeeper wage subsidy”.


EXTENSION FOR ENROLMENT

The ATO has now announced an extension of time for employers who wish to enrol for the first two JobKeeper fortnight to 31 May, an extension from 30 April. Crucially, for the first two fortnights that run from 30 March to 12 April, and 13 April to 26 April, the ATO will now accept the late payments of the minimum $1,500 per fortnight as long as they are paid by 8 May.

“This means that you can make two fortnightly payments of at least $1,500 per fortnight by 8 May, or a combined payment of at least $3,000”, said the ATO in an update on Monday.

With the major banks now stepping up with dedicated JobKeeper hotlines to provide bridging finance to businesses ahead of the ATO’s reimbursement.


FULL TIME STUDENTS AGED 16 AND 17 YEARS OLD

Full time students aged 16 and 17 years old who satisfy the basic eligible criteria, will no longer be eligible for JobKeeper Payment unless they are financially independent. This change will apply prospectively, so employers who have made the minimum $1,500 to those students who will now be ineligible for the payment, are not financial disadvantaged. This change will have significant impact on the hospitality and retail industries but will no doubt be welcomed by small businesses struggling to find cash resources to fund up front payment of wages to eligible employees.

CASH FLOW BOOST PAYMENTS

Business eligible for the Cash Flow Boost Payment that have lodged their March Quarterly or Monthly BAS have started to see credits on their accounts. For more information on the Cash Flow Boost Payments visit the ATO Website or contact our office.


BUSINESS VICTORIA $10,000 GRANT

The Victorian Government has launched the $500 million Support Fund to help small business survive the impact of Covid-19 and keep people in work. Victorian Business may be able to apply for a $10,000 grant. For more information and to apply visit the Business Victoria Website.


NSW GOVERNMENT SMALL BUSINESS COVID-19 SUPPORT GRANT

The NSW Government is providing financial support to ease the pressures on small business as a result of Covid-19.

If your small business or non-profit organisation has experienced a significate decline in revenue as a result of Covid-19, you may be eligible for the small business grant of up to $10,000.

For more information and to apply visit the NSW Government Website.


I thought its instructive to see that a change has been made so that students of 16 and 17 will no longer be eligible for the job keeper. This was one of the original criticisms.But bad luck if you have already paid these folk on the expectation of being reimbursed. Coz you aint gunna get it now.

I think there are going to be major issues with the fact that the subsidy is a self assessment. I can see some rorting on the horizon here, look what happened with the childcare industry, look at what happened with the parenting co-payments system where parents had to estimate their income, but got hit with robodebts if the got it wrong (inadvertently or otherwise). There is just too much temptation to screw the government.
The ATO have got 5 years to audit any of the businesses that claim some form of funding. How many extra staff will they need over this time?
I am so pleased I am n longer running a business, its going to be schemozzle.

Mick

  Forum: Off Topic Chat

mullokintyre
Posted on: May 1 2020, 12:05 PM


Group: Member
Posts: 2,498

So where is everyone??
Nothing happening.
No posts, no gems of wisdom.
I'm as bored as hell.
NABTRADE down again (useless platform, going to shift).
Had some lowball buys in, can't tell if they have been filled or not.
And its cold and wet outside.
At least we have central heating/
Mick
  Forum: Investment Discussion

mullokintyre
Posted on: Apr 30 2020, 04:46 PM


Group: Member
Posts: 2,498

I think the only way out of this is for Joe Biden to pull out of the Presidential race, either through poor health, presssure from the #metooo movement, or cold feet, and Bernie Sanders to to replace him.
The US needs a dose of good old fashioned socialism to screw the big money end of town.
And the big money is in both Democratic and Republican camps.
They will fight like hell, use all the money and influence at their disposal to keep their gravy train going, but they will have to be wiped out.
I never thought I would say this, but there comes a time when the corrupted capitalist markets need a take down.
I had high hopes that Trump would do the swamp cleaning, but he has been no better than the predecessors.
If Socialist Bernie is the only way to do it, so be it.
Mick
  Forum: Investment Discussion

mullokintyre
Posted on: Apr 30 2020, 04:31 PM


Group: Member
Posts: 2,498

Got an email from NAb this morning with enormously generous offer t

QUOTE
We understand that it's a challenging time for many of our customers. That's why we're reducing credit card minimum monthly repayments to 0.5% of your closing balance or $5 (whichever is greater).
What happens next?
This change will happen automatically on statements issued from 27 April 2020 until at least 24 July 2020. If you have a direct debit set up to pay only your minimum monthly payment we'll automatically debit the reduced amount.

It's important that you have the option to pay less during this difficult time. Please keep in mind that paying more than the minimum monthly payment will help reduce the interest you pay.
Head to nab.com.au/creditcardrepayments for info on ways to set up or change your credit card repayments.


So, anyone who has a minimum automatic deduction will end up paying even more in interest unless they read the fine print.
No mention of a reduction in the appallingly high interest charges on the balance.
The bastards just don't seem to get it.
Do they really think people are going to think the bank is doing them a favour??

Mick
  Forum: Investment Discussion

mullokintyre
Posted on: Apr 30 2020, 10:16 AM


Group: Member
Posts: 2,498

CPH quarterly activities report makes ok reading.
Revenue from sales up nearly 800% from the previous quarter (albeit from a pretty low base).
But it sure beats it going the other way.Lots of potential sales with a product base wider than just cannabis.
Still holding, one of those I put in the bottom draw to be brought out and admired once a year at Tax prep time.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Apr 30 2020, 09:49 AM


Group: Member
Posts: 2,498

Geez H, you are getting as cynical as i am!!
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Apr 29 2020, 02:48 PM


Group: Member
Posts: 2,498

From The OZ


QUOTE
Meanwhile many struggling enterprises are discovering that while staff benefit from JobKeeper they are out of pocket. So, as I will explain below, they are considering pulling out of JobKeeper -- much to the anger of staff.
Many banks are reluctant to lend to struggling enterprises to enable them to pay their April staff salaries in advance of JobKeeper in mid-May.
That situation is suddenly causing second thoughts to sweep across many small employers.

JobKeeper is one of the most innovative programs in the world and its implementation is a credit to Treasurer Josh Frydenberg and the Australian Taxation Office.

But employers are suddenly discovering at the state level they are up for workers’ compensation payments for those dormant workers. And the workers’ compensation bills for dormant workers are much higher than normal when JobKeeper payments are higher than existing salaries.

At the same time many employers will need to pay payroll tax on JobKeeper. In Victoria South Australia and Western Australia the payroll tax exemption is limited to enterprises with small turnovers. In Victoria the cap is $3 million. In NSW, payment is deferred but not eliminated. In Queensland it is to be determined.

If you’re a struggling business then these payments can make the difference between survival or collapse.

Despite urging from the Prime Minister, banks are very reluctant to lend additional money to businesses that are effectively shut and will face higher charges as a result of the payroll tax and workers’ compensation bills to be eligible for JobKeeper.

But employees see JobKeeper payments as something akin to an entitlement and a way of getting a greater payment than that made available under JobSeeker. Watch for increasing anger.

I was talking to my Nephew who is a licensee of a fairly big pub here in Vic.
He has had discussions with his accountant about the Jobkeeper allowance.
The accountant reckons if this goes for six months or more, he will be out of pocket by $100k if does the job seeker thing.
Some of his casual employees, some of whom only work one or two night shifts in a month, will get far more under the package than they would have when they worked.
But he will have to pay the state controlled payroll tax on a much larger figure.
He is yet to hear back from the ATO as to how the compulsory super payments will be worked out on payments he is forced to make to employees who are not working.
So far he has made three attempts at filling out the application, because the rules keep changing.
He said he is lucky the pub closed as he is spending all of his time with his accountant, on the phone listening to the music playing app at various government departments which is interspersed with the smarmy assurance that despite the large number of calls the department is receiving, his call is valuable to them and will be answered by the next available operator.
The bank originally wanted him to take out a new credit card with a 30k limit as part of this package, "because it would be easier from an administrative perspective".
Not to mention that the interest rate charged on them is usurious.
The law of unintended consequences always strikes where you might least expect it.

Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Apr 29 2020, 11:22 AM


Group: Member
Posts: 2,498

good observatiion BG, and it is happening again today.
Up 18% on low volume , low value of $1700.
Must be bots at work again.
Somebody really wants this to go higher.
Mick,
  Forum: By Share Code

mullokintyre
Posted on: Apr 29 2020, 10:11 AM


Group: Member
Posts: 2,498

Bit of a rally troops announcement out today.
Noted that depite the CV in US , sales are continuing at a pace.
Nothing else in there that had not been already announced.
But the fact that it aggregates all the individual announcements makes good reading.
Most of the users of edencrete have joined the team in 2020, so maybe there might be sufficient sales to warrant keeping things going.
Still doesnt' take away from the fact that in a pour of concrete worth 10 million, the Edencrete component is only about 200,00.
Gunna have to pour a lot to make real bucks.
market seemed to like it though.

Mick
  Forum: By Share Code

mullokintyre
Posted on: Apr 29 2020, 10:03 AM


Group: Member
Posts: 2,498

Call me a snarky old suspicious fart Mr BacktoBerra, but you have one post on here , and the same post word for word on your single post on Hotcopper .
If I was looking for someone who had bought a heap of LNG on the last failed takeover by LG9 and now needs to offload it, I am afraid your posts fit bill perfectly.

Mick
  Forum: By Share Code

mullokintyre
Posted on: Apr 29 2020, 09:57 AM


Group: Member
Posts: 2,498

Quarterly report out today shows guidance for full year unchanged, with plans for a smooth transition to mining/production at Boswell and tenements further south.
ALK at an interesting intersection.
The ADR's in Canada Exchange are being converted to underlying shares, and owners have until Jan 2021 to complete transactions.
The REMS section of its business is planned to be siphoned off into a separate entity (ASM) and listed on the ASX in the September quarter this year.
It will leave ALK as a purely copper/gold production entity.
Not sure how all this will play out, theres a fair bit going on, but will keep my stake until something comes along to urge me to offload.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Apr 29 2020, 08:56 AM


Group: Member
Posts: 2,498

An interesting Graphic about the age demograhpics of COVID in OZ
DEMOGRAPHICS

A couple of things to notice.
1. Young people inn their 20's make up the highest number of tested infections.
2. Females in the above group were overly represented by about 20%.
3. Women in the 40's age bracket also outnumbered their male equivalents.
4. In every other age bracket, men outnumbered women, particularly amoung the aged. As women tend to oulive men by some margin, there should be lots more women in this age grouping.
5. Despite the skew in 2 and 3 above, Overall, slightly more males tested positive than females, even though there are more females than males in population.

I have contacted Ro Allen, Victoria's Commissioner for Gender and Equality to have this imbalance rectified.


Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Apr 29 2020, 08:18 AM


Group: Member
Posts: 2,498



An elderly man driving erratically was stopped by the police around 2 am and was asked where he was going at that time of night.
The man replied, “I’m on my way to a lecture about alcohol abuse and the effects it has on the human body, as well as smoking and staying out late”>
The officer then asked, “Really? Who’s giving the lecture at this time of night?”
The man replied, “That would be my wife”.

Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Apr 28 2020, 04:43 PM


Group: Member
Posts: 2,498

Go for it MAC, we all have different entry and exit points.
Hopefully for your sake, I don't get an opportunity to re enter below 20.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Apr 28 2020, 10:33 AM


Group: Member
Posts: 2,498

And those that took up the offer must be mighty pleased.
Record production this year, gold near all time highs, and a share price approaching 12 month highs.
Wish I had put it in my list of gold stocks.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Apr 28 2020, 10:06 AM


Group: Member
Posts: 2,498

EVN approaching 12 month highs.
May be time to take some profits.
mick
  Forum: By Share Code

mullokintyre
Posted on: Apr 28 2020, 09:54 AM


Group: Member
Posts: 2,498

With some really good follow up rain for the wheat belts of Vic, SA, and NSW, being forecast over the next few days, the seasons grain harvest has had an excellent start in those states.
Its got to be better than the last two years of drought, so still hopeful that GNC will do well.
The lock downs in various countries has caused lots of home cooking to be undertaken, and hence demand for flour during the lockdowns has skyrocketed.
Australia's biggest flour producer, Manildra, said sales are up by 60% on last year.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Apr 28 2020, 09:38 AM


Group: Member
Posts: 2,498

Sold out when it hit the 25mark.
Could have held till 30, but heck it doubled in the space of a few weeks, so booked the profits.
Looks like its having a breather, may get a second go if it falls below 20 again.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Apr 28 2020, 09:34 AM


Group: Member
Posts: 2,498

3rd quarter out, still on track for 370 to 400k ounces for full year.
Given the average gold sale price is now above 2100, profits should be pretty good.
Atlantic gold has been a very nice acquisition.
AISC is in very low 900's makes it very profitable with gold still above AUD2600 an ounce.
Will keep holding at this rate.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Apr 27 2020, 04:27 PM


Group: Member
Posts: 2,498

So who are the other two??
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Apr 26 2020, 07:56 PM


Group: Member
Posts: 2,498

My daughter who is 30 ish was approached by one of her contacts on FB to participate in a Poll on who would download the app.
After she voted, the results said 96% of those who voted said they would not download it.
Don't know if the number of self selecting subjects is statistically high enough to be able to accurately infer what the wider population will do.
One of the problems is that some of the "older" citizens who have phones are probably the ones who should download the app.
However, judging by the experience I have had as a volunteer trying to teach older citizens how to use digital devices like phones and tablets, I can see problems.
Firstly, even though showing them how to connect to other devices using bluetooth, lots of them never turned it on.
They tend not to have a reason to use bluetooth, although a few hard of hearing were very pleased with the bluetooth headsets I showed them.
The other issue is they tend not to update either devices or their software, both the OS and APPS.
Sometimes their software is so out of date , you have to reset them to factory setting before doing an update.
My father still uses a flip up mobile phone that I gave to him about 10 years ago.
It does not have any data attached, because he says he only wants to make occasional phone calls.
He certainly would not have it turned on all the time, "to save the battery."
He has at least let me update the six year old android tablet, but thats only because the screen finally failed.
It a bugger getting old.
Mick

  Forum: Off Topic Chat

mullokintyre
Posted on: Apr 26 2020, 10:59 AM


Group: Member
Posts: 2,498

Was going to put this in the covid 19 thread, but thought the better of it.
From The onion


QUOTE
NEW BRUNSWICK, NJ—In a major setback to efforts to combat the relentless global pandemic, a potential Covid-19 vaccine from a major pharmaceutical giant reportedly hit a snag Thursday after extensive tests confirmed the once-promising method of inoculation was actually just a shotgun. “Despite very encouraging trials in which every subject who received the vaccine developed complete immunity to the novel coronavirus, further study has revealed several serious side effects, among them the fact that 100% of these participants also had their heads blown clean off,” said Johnson & Johnson CEO Alex Gorsky, explaining that the vaccine had prevented the virus from infecting any of the brain tissue or blood that was found splattered on laboratory walls, but that researchers later discovered the immunization agent had merely been a 20-gauge double-barrel shotgun. “We don’t know for certain if the firearm’s discharge is causing this severe brain damage or if the subjects were simply predisposed to such ailments, so further study is required. But it may turn out this is one of those cases where the cure is worse than the disease. Fortunately, we will soon begin human clinical trials on other possible treatments, such as jumping off bridges and ingesting huge handfuls of tranquilizers.” In his most recent press briefing, President Trump dismissed the new findings and said Americans had “nothing to lose” if they wanted to use shotguns as a preventative measure.


Standard onion humour.
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Apr 26 2020, 10:31 AM


Group: Member
Posts: 2,498

From the two posts below
QUOTE
During the GFC the Russians put out a report stating, amongst other things, that a likely outcome of the crisis was the likelihood that many US states would become bankrupt and have to adjoin with other states.

and
QUOTE
'McConnell says he favors state bankruptcy over more federal aid',
'McConnell said in a radio interview that Republicans would not support giving state and local governments more
money in future coronavirus aid legislation, saying those funds could end up being used to bail out state pensions.'


the first one from the Russians, I would pretty much discount as propaganda,
The second is from a Fed rep, and a republican one at that.

On the possibility of states going bankrupt, the new Monetary policy that is favoured by Democrats among others says that there is no such thing as bankrupt, you can just keep printing money.
When you see what got tacked onto the omnibus bills that were supposed to be emergency regs to fight the Virus, (eg $25mill to the JFK centre for the performing arts), there is nothing that can't be funded if congress has a will. And who would make the filing?? Do the states themselves go into Chapter 11??? Do creditors call the state debts in? Given that so much of the unfunded liabilities are owed to state citizens in the form of pensions etc, what would they gain, and what would they lose?


As to the states merging, I see a few major problems with that.

Firstly, it would require some politicians voting themselves out of a job. That has never happened, and unlikely to ever happen.

Secondly, the Fedreation of states that makes up the USA (as in United States of America) is not at all like that of OZ.
The states have significantly more autonomy than we have here in OZ.
The supreme court has already made a ruling that states can neither unilaterally leave the the Federation, nor be unilaterally chucked out.
All states have an equal footing.
Given the difficulty that we have here in OZ on getting 6 states to agree on anything, imagine the difficulties where the number is 50. A failed state or states would have difficulty in merging with a non failed one, I mean why would one state takeover the liabilities of another state? Hell would freeeze over before that happens. You MIGHT be able to encourage two failed states to merge, but for practicalities of state boundaries, they would have to be adjoining ones. And then having merged, you now have aa larger state with a larger set of unfunded liabilities. Not really a lot of gain.

This "solution" is a rhetorical one, in the realms of "wouldn't it be great if all nations got along together".
It just aint gunna happen IMHO.

Mick

  Forum: Investment Discussion

mullokintyre
Posted on: Apr 24 2020, 03:56 PM


Group: Member
Posts: 2,498

Perhaps you need to up the dose slightly.
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Apr 23 2020, 10:33 AM


Group: Member
Posts: 2,498

And it will be a massive problem for governments relying on inflation to allow the level of debt they have to be paid back with inflated dollars.
Governments also rely on inflation to assist with bracket creep and allow them to rake in more dough.
Mick
  Forum: Investment Discussion

mullokintyre
Posted on: Apr 23 2020, 10:31 AM


Group: Member
Posts: 2,498

From ICCN Moody

QUOTE
Moody’s warned that 20% of the CLOs it covers could see some of their bonds downgraded.
This is precisely the situation many warned about as the CLO market exploded over the past decade.
Debt was a huge problem heading into the coronavirus crisis, and it’s only going to get worse.
History started repeating itself over the weekend as the leveraged debt market showed signs of crumbling. Moody’s warned that it might downgrade $22 billion worth of collateralized loan obligations (CLO). The ratings agency said that roughly 20% of the CLOs it covers could have their ratings slashed.

In other words: the corporate debt bubble is about to pop and send the U.S. economy into a deep recession.


That will not be pretty.
Just when you think things can't get worse.
Mick
  Forum: Investment Discussion

mullokintyre
Posted on: Apr 23 2020, 10:22 AM


Group: Member
Posts: 2,498

Lke sent another 20000 litres of brine to put through refinery because there has been increased interest from parties in the off take..
Encouraging that more samples are being asked for.
Might take another punt on this one.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Apr 23 2020, 09:12 AM


Group: Member
Posts: 2,498

GXY put out a barely adequte quarter results.
Although debt free and with USD!129millfinanjcial assets, production was at the low end or projections due to lower grade production.
Much to my surprise, the exec team and board have taken a 20% pay cut to reduce overheads, Something a few other companies could emulate.
Lithium prices not going anywhere for a while, so its sa steady as he goes report.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Apr 23 2020, 09:04 AM


Group: Member
Posts: 2,498

EVN reported half yearly.
Good numbers,, free cash flow for group up 33% QOQ,AISC declined 7% QOQ, total year guidance for production unchanged.
With gold above AUD2700 an ounce, and loks like staying above that, there should be some serious upside to cash flow in the final quarter.

Mick
  Forum: By Share Code

mullokintyre
Posted on: Apr 23 2020, 05:39 AM


Group: Member
Posts: 2,498

Don't dismiss the following arguments because they come from Catallaxy Files

The logic seems sound, the figures accurate, the conclusions rational.


QUOTE
What is becoming increasingly obvious is that shutting down travel to China on February 1 has probably done almost all of the heavy lifting in terms of limiting the virus in Australia, followed by the general ban on all overseas travel. Australia is an outlier in the Western world (being the only countries with semi-reliable data) for the small number of cases and fatalities experienced to date. Why is that? It is a question neither the government nor its expert modellers nor its health officials are prepared to explain presumably because they know the answer makes them look alarmist and foolish for having so egregiously overreacted in contravention of their own COVID National Plan call for proportionality.

Notwithstanding that Australia is an island and better able to control its borders than most, the most likely reason we have fared better is because Australia was on summer holiday when all hell broke loose in Wuhan. Why does this matter? Because the flow of Chinese travel was disproportionately out of Australia during this time (as it is every year). Students returned home, business travel was subdued owing to the Christmas break and the onset of the Australian summer holiday period, and because this period also coincides with Chinese New Year celebrations (which this year started on January 25) during which the majority of Chinese plan to remain in China and hence were not planning to travel to Australia until February. The travel ban which commenced on 1 February prevented almost 200,000 Chinese entering Australia in February.

This explains why the majority of Australian cases are not linked to China but traced to travel in the United States, Europe and on cruise ships (noting that almost two thirds of infections were acquired overseas). And because travel bans (and self isolation of inbound travellers) followed next Australia was able to largely stop the virus at the border. This is more or less reflected in the bell curve of new cases. There are zero cases in February consistent with the Chinese travel ban. New cases start trickling in over the first three weeks of March as Australians returned from ski holidays in Colorado and Europe as well as from cruise ships. Because these destinations flew under the radar by our “experts” there is a big jump in new cases between March 22 and April 2. The government introduces a total travel ban on March 19 and we see a steep fall in new cases starting on April 3 and continuing through to today, consistent with an incubation period of two to three weeks (as is generally agreed by experts).

In short, Australia was arguably spared because we are an island, our summer holiday period meant reduced business and student travel, the travel ban from China was just in time (i.e. prevented 200k arrivals) and although a tad slow on Europe and US travel bans (and notwithstanding the Ruby Princess fiasco) shutting down the borders worked. Incremental gains were achieved by social distancing measures and public awareness of the importance of good hygiene at relatively low cost. However, the draconian shutting down of the rest of economy has arguably had very little if any meaningful impact but has come at a massively disproportionate cost.


The absurdities of some of the reaction from governments continue.
Was talking to my Brother in law yesterday who lives in one of the Twin cities on the Border of Victoria and New South Wales.
His daughter works as the accountant(bursar?) at a school across the border.
The Police stopped her and demanded that she show some form of proof that she had a legitimate reason for crossing the Murray into another state.
The pile of school papers on the seat beside her was not enough,
Fortunately she was able to show that one of the 8 million emails she had from the headmaster on her laptop had scheduled a meeting of all non teaching staff for that day.

Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Apr 22 2020, 11:09 AM


Group: Member
Posts: 2,498

SLR Increasing its expected full yer sales to 250,000 to 260,000.
Market obviously likes it, I may have sold too early. but hey, a profit is a profit.
Was hoping to buy back in cheaper, looks that that may not happen for a while.
Other gold stocks been down, so its a very good result.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Apr 22 2020, 10:52 AM


Group: Member
Posts: 2,498

And down the snake it goes.
Had a low ball order at 71 partially filled on the open, much to my surprise.
Don't know why it got crunched, had some more good drilling results out today, but the market seems to just be weird ATM.
mick
  Forum: By Share Code

mullokintyre
Posted on: Apr 21 2020, 11:59 AM


Group: Member
Posts: 2,498

And right on cue, the FEDS have thrown a lifeline to REX.
From ABC NEWS
QUOTE
The Federal Government has thrown airline Regional Express (Rex) a funding lifeline, to continue servicing airports in regional Australia during the COVID-19 pandemic.

The Commonwealth Grant Agreement was signed under the COVID-19 Regional Airline Network Support (RANS) program and will see the Government pay for Rex to continue to operate 1-2 return services a week to most destinations on the Rex network.

The Queensland, Western Australian, and South Australian State Governments have also committed to fund further flights on top of what the Federal Government package is providing, with details set to be confirmed at a later date.

In a statement, Rex deputy chairman John Sharp said the funding has saved the airline from cutting services to many smaller regional communities.

"All regional and remote communities owe the Deputy Prime Minister and the Morrison Government a great debt of gratitude for providing funding to ensure they continue to receive minimal essential air links to the capital cities for medical, professional and educational needs," he said.


Remember that sage advice from airline industry
:
" to make a small fortune in the aviation businesss, you need to start with a large fotune".
Mick
  Forum: By Share Code

mullokintyre
Posted on: Apr 21 2020, 10:44 AM


Group: Member
Posts: 2,498

You are being too harsh on us EB, No one likes to see others lose money, except perhaps for drug dealers and casino operators (no difference really).
Mick
  Forum: Macro Factors

mullokintyre
Posted on: Apr 21 2020, 09:36 AM


Group: Member
Posts: 2,498

Don Stammer writingin Todays OZ
QUOTE
1. Recall the lessons of history

This isn’t the first time the world economy has slowed abruptly or investment markets have been gripped by panic. Usually, the majority view during the crisis was that any recovery would be drawn out and partial; afterwards, the world would be very different; and we’d have to grapple with an austere and unpleasant “new normal”.

Reality rarely turned out to be as bad as what had been feared. Asset prices and economic conditions usually strengthened sooner than expected. Most aspects of business and investing reverted to familiar themes. In retrospect, each crisis was a time for investors to buy quality shares, not sell them.

Here are four examples from the past half-century. In the global financial crisis of 2008, the prevailing view was it would be followed by a decade or two of low and interrupted economic growth, high and sustained unemployment, and negligible returns from shares. In fact, the outcome was 10 years of (admittedly moderate) economic growth, strong gains in jobs, and a bull market in shares.

In 2001, the terrorist attacks on the US were thought likely to leave a world that “would never be the same again”, but that didn’t happen. In October 1987, sharemarkets collapsed — our share prices plunged 25 per cent in 25 minutes — evoking expectations that, like the crash of 1929, a great depression would follow; it didn’t. In the 1970s, when oil prices increased sixfold, the prosperity of western economies seemed doomed, and “stagflation” was thought to be a lasting affliction, but stagflation was beaten and oil prices didn’t keep on going up.

2. Watch the key numbers on the pandemic

It’s early days yet, but the pandemic seems to have eased its grip in China, where it originated, and appears to be topping out in Europe and the US. Australia and New Zealand have kept rates of infection and of deaths at levels well below the global averages. But further outbreaks could occur; investors should keep watch on how numbers of people with the coronavirus virus are trending.

3. Carefully watch what happens as recently introduced rules are relaxed

Until a vaccine is found, and can be mass-produced, relaxation of stay-at-home rules and social distancing requirements will be risky. A staged easing will be required, with governments getting rid of measures that have little effect on the rate of new infections but which can reduce the economic and social costs of the pandemic.

4. Watch for signs of the economic upturn, but expect markets to remain preoccupied with negative economic data

Worldwide, the shift to supportive macro-economic policies is on an unprecedented scale. For example, the US, Japanese and Australian governments are each increasing their discretionary spending by more than 10 per cent of GDP; if required, additional funds will be made available. At some stage — in my view, around the end of 2020 — a significant impact will be felt on global economic activity.

In coming months, however, sharemarkets are likely to pay more attention to bleak reports on how much economic conditions have weakened, on the ­downgrades in corporate earnings, and in Australia on exaggerating the prospective cuts in dividends.

5. Be on the lookout to buy quality shares while they’re cheap

It’s likely the turbulent times in sharemarkets will continue for quite a while. Investors with cash and who understand the risks will have opportunities.

Howard Marks, who has long experience as an investor, recently summarised his thinking this way: “Terrible news makes it hard to buy and causes many people to say, ‘I am not going to catch a falling knife’. But it also pushes prices to absurdly low levels. That’s why I so like the headline ‘When the time comes to buy, you won’t want to’. It’s not easy to buy when the news is terrible, prices are collapsing and it’s impossible to have an idea where the bottom lies. But doing so should be the investor’s greatest aspiration. The bottom line for me is that I’m not at all troubled saying (a) markets may well be lower sometime in coming months and (b) we’re buying today when we find good value. I don’t find these statements inconsistent.”

6. Be thinking about, but not yet acting on, later implications of the unwinding of fiscal and monetary largesse now under way

The fiscal and monetary largesse governments are — necessarily — now dispensing will need to be unwound and ultimately reversed over coming years. My next column will outline the long-term implications, but my present focus as an investor is on getting across the “bridge” we hear a lot about, and also the first set of hills.


Not a bad set of points I reckon.
Mick
  Forum: Investment Discussion

mullokintyre
Posted on: Apr 21 2020, 09:23 AM


Group: Member
Posts: 2,498

There is of course REX.
The main reason they didn't do more capital city runs was the lack of landing/takeoff off slots at Melb, Bris and Sinney.
Now with Virgin gone, virtually no international flights in o or out of OZ, there are plenty of slots.
The airport owners would be almost giving them away with a free set of steak knives.
Rex might even be able to pick up some cheap jets and crews to go with them.
They already have an AOC, are used to dealing with the goons from CASA, have a large academy training more pilots in Wagga and Ballarat, and is used tio losing money (essential for any airline).
And they would not have to be banished to Terminal 4 at Melb.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Apr 21 2020, 09:15 AM


Group: Member
Posts: 2,498

henrietta, when the lock down eases and we can take the 4wd and campers out again, it's going to be a mad rush North.
Never get in between the grey nomads and a free camp site..
Mick
  Forum: Macro Factors

mullokintyre
Posted on: Apr 20 2020, 08:02 PM


Group: Member
Posts: 2,498

All of the posts I could be bothered going back to read have been about the same company, ideanomics.
You don't happen to have lot of shares in this co by any chance??
Mick
  Forum: Investment Discussion

mullokintyre
Posted on: Apr 20 2020, 09:42 AM


Group: Member
Posts: 2,498

Wow, I had pencilled in brambles as one of the stocks for a possible gain from the virus.
Just goes to show that it is really difficult picking winners.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Apr 19 2020, 10:43 PM


Group: Member
Posts: 2,498

Now heres a practical idea for those people working at home.
From Framery\
comes the modern equivalent of Maxwell Smarts Cone of silence.
And they come in various sizes - right up to to the big one.


Gotta be a winner!

Mind you not sure how the social distancing rules apply in the mega pods.

Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Apr 19 2020, 09:31 PM


Group: Member
Posts: 2,498

They are politicians. Do you seriously believe any of their bullshit??
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Apr 19 2020, 07:47 AM


Group: Member
Posts: 2,498

I have written a couple of times about emails I have received from acquaintances in South Africa.
There seemed to be a significantly lower level of infections and deaths in South Africa which some had attributed to mass TB Innoculations.
Image my surprise this morning when perusing the The Australian to see a headline stating

QUOTE
Cases surpass 20,000 in South Africa


But when i read the body of the report it seems that the figures quoted are for all of Africa.

The latest reports I got from the bloke said that in a country about 2.5 times the population of Australia with a tenth of the medical facilities, they had less than half the number of confirmed cases and slightly less number of deaths.
Sloppy reporting OZ, I expect better from an org that continually hangs it on every other media org.

Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Apr 18 2020, 10:39 AM


Group: Member
Posts: 2,498

Your are cheating.
You have co-opted someone else's conspiracy.
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Apr 17 2020, 04:35 PM


Group: Member
Posts: 2,498

From ABC News

QUOTE
Deputy Chief Medical Officer Paul Kelly has not ruled out making the Government's coronavirus tracing app compulsory for all Australians.

The contact tracing app will use people's GPS data to tell health authorities who has been in close contact with a confirmed COVID-19 case, and who may need to be tested.

The Government has said 40 per cent of Australians would need to sign up to the app for it to have enough data to function properly.

When asked if the panel of health experts advising the Government was considering recommending the app be compulsory if less than 40 per cent of people signed up, Professor Kelly said making it voluntary at first was "the way to go".

"I've always been a believer in the Australian people making the right decision," he said.

The Government has said the app, if successful, could lead to an early easing of social-distancing restrictions.



WTF?? The deputy CMO is running the country now??I will go to jail before I download a compulsory tracking app.
The govt had better tell the CMO to stick to medical stuff, and butt out of Fascism.

A pissed off Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Apr 17 2020, 03:14 PM


Group: Member
Posts: 2,498

From AFR
QUOTE
The chairman of Australia's largest bank has warned the government against opening up the economy too soon, saying the "current optimism is based on a very limited data set".

Commonwealth Bank chairman Catherine Livingstone has also urged Prime Minister Scott Morrison and state premiers to use the COVID-19 crisis as an opportunity to reduce the Australian economy's reliance on a few key industries such as mining.


Why on earth should we take medical advice from the chairperson of a Bank that has screwed its customers for years and thumbed its nose at regulators.
I don't ask my Doctor for Financial advice.
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Apr 17 2020, 11:12 AM


Group: Member
Posts: 2,498

Sprott money are harping on about the iminent collapse of the paper derivitive gold market.
Maybe THIS time they are right.
From Sprott Money


QUOTE
These are dark times for The Bullion Banks. Their Fractional Reserve and Digital Derivative Pricing Scheme is in great peril as refineries, miners, and mints all shut down in response to the coronavirus pandemic. Will these Banks be able to scrounge up enough physical metal to keep their scheme afloat through June? That remains an open question.

You may recall that we've been warning of the outrageous volume of COMEX EFPs (Exchange For Physical) for years. For the calendar years 2018 and 2019, the COMEX swapped out over 14,000 metric tonnes of contracts for alleged "physical metal" in London. And this process grew even more extreme in 2020, as the first three weeks of the month saw 290,000 COMEX gold contracts "exchanged" this way. Here's the link from the last post dedicated to this subject, written on March 10: https://www.sprottmoney.com/Blog/comex-gold-efp-us...

For today's discussion, let's begin with a brief, simplified summary of how we got here over the past few weeks: • The Banks swap 290,000 COMEX contracts (over 900 metric tonnes) into EFPs in just the first fifteen trading days of March.
The Fed announces QE∞ on Monday, March 23. COMEX gold price soars over $100.
A party or parties seek actual, immediate delivery of COMEX 100-oz bars through EFP.
COMEX must admit that it has no 100-oz bars to deliver on Tuesday, March 24.
CME and LBMA make a joint announcement on Wednesday, March 25 that a new settlement contract will be introduced for Apr20 delivery. This contract will feature "delivery" of fractional ownership of 400-oz London bars.In short, with an unexpected global supply squeeze, the COMEX was caught without enough deliverable gold. Through the change of rules shown above, the exchange (and CME/LBMA) have been able to scrape together enough gold to maintain the illusion of physical delivery thus far through the Apr20 delivery period. But it hasn't been easy. As you can see below, there have already been nearly 30,000 contracts delivered this month...more than 3X the average volume of Aprils past.
As the supply squeeze continues—with many mines and refineries still shut down—the COMEX should expect these delivery issues to continue in May and June. Already we're seeing total open interest of the "non-delivery month" of May20 surge—going from 1,228 contracts late last week to over 4,500 contracts on Monday, April 13. What will happen if this number surges above 10,000 in the days before deliveries begin on April 30?COMEX Search & Seizure - Craig Hemke (April 14, 2020)
COMEX Search & Seizure - Craig Hemke (April 14, 2020)
By Craig Hemke 2 days ago 54409 Views 4 comments
April 14, 2020

These are dark times for The Bullion Banks. Their Fractional Reserve and Digital Derivative Pricing Scheme is in great peril as refineries, miners, and mints all shut down in response to the coronavirus pandemic. Will these Banks be able to scrounge up enough physical metal to keep their scheme afloat through June? That remains an open question.

You may recall that we've been warning of the outrageous volume of COMEX EFPs (Exchange For Physical) for years. For the calendar years 2018 and 2019, the COMEX swapped out over 14,000 metric tonnes of contracts for alleged "physical metal" in London. And this process grew even more extreme in 2020, as the first three weeks of the month saw 290,000 COMEX gold contracts "exchanged" this way. Here's the link from the last post dedicated to this subject, written on March 10: https://www.sprottmoney.com/Blog/comex-gold-efp-us...

For today's discussion, let's begin with a brief, simplified summary of how we got here over the past few weeks: • The Banks swap 290,000 COMEX contracts (over 900 metric tonnes) into EFPs in just the first fifteen trading days of March.
The Fed announces QE∞ on Monday, March 23. COMEX gold price soars over $100.
A party or parties seek actual, immediate delivery of COMEX 100-oz bars through EFP.
COMEX must admit that it has no 100-oz bars to deliver on Tuesday, March 24.
CME and LBMA make a joint announcement on Wednesday, March 25 that a new settlement contract will be introduced for Apr20 delivery. This contract will feature "delivery" of fractional ownership of 400-oz London bars.
https://www.nasdaq.com/articles/exclusive-c...wn-sources-2020
In short, with an unexpected global supply squeeze, the COMEX was caught without enough deliverable gold. Through the change of rules shown above, the exchange (and CME/LBMA) have been able to scrape together enough gold to maintain the illusion of physical delivery thus far through the Apr20 delivery period. But it hasn't been easy. As you can see below, there have already been nearly 30,000 contracts delivered this month...more than 3X the average volume of Aprils past.
As the supply squeeze continues—with many mines and refineries still shut down—the COMEX should expect these delivery issues to continue in May and June. Already we're seeing total open interest of the "non-delivery month" of May20 surge—going from 1,228 contracts late last week to over 4,500 contracts on Monday, April 13. What will happen if this number surges above 10,000 in the days before deliveries begin on April 30?
And what will happen if the next "delivery month" of Jun20 sees more delivery requests than the COMEX is fielding here in April? What if there is a demand for 40,000 or 50,000 deliveries? That would be 5,000,000 ounces. From where would COMEX source the gold then?

For now, an unprecedented disconnect continues to exist between the spot and front month futures price. This is indicative of tight supply and a failure of confidence in future delivery. This was the topic of last week's article. You continue to be told by System Apologists that "the gold is there, it's just in the wrong place". This is alleged to be the reason for the spread in price and the issues at COMEX. Oh, really? If that's the case, then there must be a shortage of silver, too, and it must also be "in the wrong place". The current spread shown below is more than 2% and even larger than the current spot-future spread in gold!
And these Apologists also claim that everything the CME/LBMA does is totally transparent and honest, with the moves such as fractional ownership of London bars just simply a nice new service that The Banks are providing. RRRrrriiiggghhhttt. If that was the case, then why is the CME/LBMA demanding complete secrecy from the CFTC regarding this new arrangement? Thanks to the guys at BullionStar, see the information below:

“COMEX secures secrecy agreement with CFTC under FOIA not to release details to the public of its market maker program for the new 400 oz gold futures contract hatched with LBMA, because ‘Disclosure Would Likely Cause Competitive Harm to COMEX’. Program begins tomorrow April 13. pic.twitter.com/QEuEyGz64m”

— BullionStar (@BullionStar) April 12, 2020
So if everything is just fine , and the delivery issue is simply being caused by gold "being in the wrong place" and the exchanges are forthright and honest brokers, THEN WHY WOULD CME/LBMA DEMAND PROTECTION FROM FREEDOM OF INFORMATION ACT (FOIA) REQUESTS?

I'll tell you why... BECAUSE IT'S ALL ONE BIG MASSIVE SCAM! The Bullion Banks have managed a just-in-time delivery scheme through increasingly mind-blowing amounts of promissory notes, delivery receipts, and unallocated accounts. For Pete's sake, the LBMA actually admitted to a total trading volume of 32,255 METRIC TONNES of gold IN MARCH ALONE! That's an annualized run rate of over 380,000 METRIC TONNES or about 135 years of global annual mine supply! WHAT?!?!

“You need to take a second. Stop what you're doing. Let this sink in. In March, the LBMA traded 1.04 Billion ounces of ‘gold’. That's 32,255 metric tonnes. In one month. That's an annualized run rate of 387,060 METRIC TONNES!! 138 YEARS of mine supply.


The last sentence is the most important.
Its that divergence between reality and digital gold that will be the killer.
Mick
  Forum: Macro Factors

mullokintyre
Posted on: Apr 17 2020, 09:55 AM


Group: Member
Posts: 2,498

Agh, the ethics involved with gambling institutions.
From The OZ

QUOTE
Crown Resorts will push ahead with the payment of a $205m interim dividend to investors, including about $70m to major shareholder James Packer, despite standing down 11,500 employees and registering for the federal government’s JobKeeper payment scheme.

Rival The Star Entertainment Group also said on Thursday that 8500 of its staff were being stood down, meaning the two casino giants have stood down a combined 20,000 employees.

The move means about 95 per cent of the respective workforces of the gambling and hotel resort company’s are out of work.

Crown is going ahead with its dividend given it has already been declared, its shares have traded ex-dividend and a new $1bn in debt refinancing gave it a relatively strong balance sheet that will include about $300m in cash after the 30c-per-share dividend is paid on Friday.

Crown also said 1300 people remained on the construction site at Barangaroo in Sydney, working to complete the $2.2bn Crown Sydney casino and luxury hotel development by the original target of the end of the year, despite some recent temporary stoppages after some workers tested positive for the coronavirus.

Both companies also revealed pay cuts for senior executives and board members, though The Star went further than Crown, which said chief executive Ken Barton would take a 20 per cent pay cut at least until the end of June as part of a raft of measures in response to the COVID-19 pandemic.


Mick
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mullokintyre
Posted on: Apr 17 2020, 09:29 AM


Group: Member
Posts: 2,498

sorry Nipper, it was a poor attempt at a pun.
Mick
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mullokintyre
Posted on: Apr 17 2020, 08:53 AM


Group: Member
Posts: 2,498

My understanding was he wanted to adjourn both houses so as he can just approve all the appointments he put up.
From TIME
QUOTE
WASHINGTON) — Citing the coronavirus, Donald Trump is threatening unprecedented action — adjourning both houses of Congress — to entice the Senate to approve more of his nominees.

In recent years, Congress has refused to fully adjourn during most breaks precisely to prevent the president from making recess appointments. Little or no business is conducted in such “pro-forma sessions,” but they give members of both chambers of Congress the chance to go back home without going into recess.

It’s a process lawmakers also employed to thwart President Barack Obama’s nominees.

Trump says he’s had enough and warns that he will seek to adjourn both chambers of Congress if lawmakers don’t formally declare a proper recess. That way, he could appoint some nominees without the Senate’s approval. Trump said, “Perhaps it’s never been done before, nobody’s even sure if it has, but we’re going to do it.”

The Constitution does not spell out a unilateral power for the president to adjourn Congress. It states only that he can decide on adjournment if there is a dispute over it between the House and Senate. Such a disagreement does not now exist, nor is it likely to arise.

Constitutional scholar Jonathan Turley said on Twitter the Constitution gives a president authority in “extraordinary occasions” to convene or adjourn Congress. However, he said, “This power has never been used and should not be used now.”

edited to add the following:
According to WWashington post
there are 82 positions that are waiting on confirmation.
There are also 150 positions for which no nomination has been made by the trump administration

Adjourning congress would not neccessarily gove him the ability to postpone or cancel the elections.
You can guarantee the supreme court would stymie that one, no matter how many conservatives he stacks it with.

Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Apr 17 2020, 07:50 AM


Group: Member
Posts: 2,498

Youre not thinking of Bob Marley are you??
Mick
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mullokintyre
Posted on: Apr 16 2020, 07:25 PM


Group: Member
Posts: 2,498

Trump, Biden, Congress, etc are all irrelevant.
The problems with the US are not health or even politics.
The biggest problem is the takeover of the Financial system by the megabanks.
The US federal Banking system has bought the treasury and we have the ridiculous situation where the plebs in the USA are to be given some 535 billion dollars.
A lot you might say, until you realise that the NY fed has issued 4.3 TRILLION dollars to keep their banks afloat.
And who owns the NY Fed??
The US mega banks.
Talk about corruption.
The biggest fear I have is what happens when the US starts to implode.
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Apr 16 2020, 06:28 PM


Group: Member
Posts: 2,498

Having had the unfortunate experience of spending a little time in Mali, I would question that somewhat!.
Mick
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mullokintyre
Posted on: Apr 16 2020, 03:50 PM


Group: Member
Posts: 2,498

DCN approaching the SPP of 0.30,
The ultimate irony will be for the price to drop below it making life difficult for the stag profiteers.
Mick
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