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mullokintyre
Posted on: Today, 10:58 AM


Group: Member
Posts: 2,644

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

mullokintyre
Posted on: Today, 10:55 AM


Group: Member
Posts: 2,644

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

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

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

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

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


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

Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Today, 10:31 AM


Group: Member
Posts: 2,644

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

mullokintyre
Posted on: Today, 10:19 AM


Group: Member
Posts: 2,644

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



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


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

Mick
  Forum: By Share Code

mullokintyre
Posted on: Yesterday, 12:11 PM


Group: Member
Posts: 2,644

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

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


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

mullokintyre
Posted on: Yesterday, 12:05 PM


Group: Member
Posts: 2,644

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

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

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

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

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

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

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

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


Mick

  Forum: Off Topic Chat

mullokintyre
Posted on: Yesterday, 12:01 PM


Group: Member
Posts: 2,644

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

mullokintyre
Posted on: Yesterday, 11:28 AM


Group: Member
Posts: 2,644

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

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

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

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


Single

Monthly

Annual
How much would you like to give?
Amount


$10

$25

$50

Other
Contributing $25 works out as $5.77 each week

Your details
Email address
example@domain.com
First name


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


  Forum: Off Topic Chat

mullokintyre
Posted on: Yesterday, 10:10 AM


Group: Member
Posts: 2,644

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

mullokintyre
Posted on: Yesterday, 09:54 AM


Group: Member
Posts: 2,644

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

mullokintyre
Posted on: Yesterday, 09:52 AM


Group: Member
Posts: 2,644

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

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

mullokintyre
Posted on: Yesterday, 09:50 AM


Group: Member
Posts: 2,644

As I have said in the past, I have have genrally regarded the POTUS as a figurehead.The establishment power brokers are the ones who really control what happens in the US.
The various govt heads, spokespersons etc, are mere useful tools for the elites in the us to fashion things to their liking.
The only thing I can take from this is that Ms Harris is most likely to become the first female president, and the first black female president as well.
I would be surprised if Joe Biden lasts one full term before the geriatric diseases he obviously has will cause him to be removed.
Stephen Looseley in the mornings OZ has an article that suggests that trump will not contest the election.
Seems a little far fetched, but with an ego the size of his, the thought of losing to a geriatric has been would destroy him.
It would not surprise me to see Trump pull out.
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Aug 11 2020, 07:46 PM


Group: Member
Posts: 2,644

Gold and silver both crunched today,
might be time for a breather and a little consolidation.
be interesting to see what happens after the Northern Hemisphere opens up 2 nite.
Mick
  Forum: Macro Factors

mullokintyre
Posted on: Aug 11 2020, 07:44 PM


Group: Member
Posts: 2,644

Tesla is taking a ponding in Europe.
FromWolf Street

QUOTE
Tesla’s share of the EV market plunged to 8.7% year-to-date, from 18.4% last year. Competition is now huge and across the spectrum. Tesla faces the same situation globally.It has been a very ugly year in Germany for auto sales, except for EVs. The overall new vehicle market in Germany has plunged by 30% in the first seven months of 2020 to 1.526 million units. But EV sales have skyrocket by 65% over the first seven months, after having already skyrocketed by 88% in the same period in 2019, according to KBA, the German agency that handles nationwide new-vehicle registrations. Year-to-date, 61,105 EVs were sold, giving EVs a share of 4% of total new vehicle sales, up from less than 1% just two years ago in 2018.

But Tesla got crushed. Its sales over the seven-month period fell from 6,816 in 2019 through July, to 5,306 over the same period in 2020, and its share in the EV market plunged from 18.4% to 8.7%.

There are now three automakers that blew past it in Germany – Volkswagen Group, Renault, and Hyundai Group – while Daimler Group came in even with Tesla, and BMW group wasn’t far behind. This chart shows market share of each automaker, with all their EV brands and models combined:

Volkswagons share at 38% dwarfs all others.
Renault and Hyundai both outstripped tesla.
BmW is neck and neck with Tesla.
All of the above are experienced automakers, sellers, and repairers.
tesla has a little catching up to do.
And of course, so does ideanomics.

Mick
  Forum: Investment Discussion

mullokintyre
Posted on: Aug 11 2020, 12:07 PM


Group: Member
Posts: 2,644

My middle name is skeptic.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Aug 11 2020, 09:26 AM


Group: Member
Posts: 2,644

Hmmmmm
QUOTE
Houston We Have [has] the ability to identify the likelihood and certainty of future outcomes ... without ambiguity.


Yeah right.

Mick
  Forum: By Share Code

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


Group: Member
Posts: 2,644

ARD in Trading halt.
Must be time for a cap raising.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Aug 10 2020, 09:45 AM


Group: Member
Posts: 2,644

At the risk of being shot down as a (fill in the blank), I have been reading an article about HCQ where they analysed the results of all the countries that used HCQ as a treatment for COVID.
I am not advocating the use of HCQ, merely highlighting some research that does not seem to have had much publicity, compared to some others.
I would urge readers to have more than a passing glimpse at the report before passing judgement.
Here is their summary from HCQ Trial

QUOTE
Many countries either adopted or declined early treatment with HCQ, forming a large country-randomized controlled trial with 2.0 billion people in the treatment group and 663 million in the control group. As of August 8, 2020, an average of 39.6/million in the treatment group have died, and 443.7/million in the control group, relative risk 0.089. After adjustments, treatment and control deaths become 82.0/million and 637.0/million, relative risk 0.13. Confounding factors affect this estimate, including varying degrees of spread between countries. Accounting for predicted changes in spread, we estimate a relative risk of 0.21. The treatment group has a 79.1% lower death rate. We examined diabetes, obesity, hypertension, life expectancy, population density, urbanization, testing level, and intervention level, which do not account for the effect observed.
Treatment. We investigate early or prophylactic treatment for COVID-19 with hydroxychloroquine (HCQ), which has been adopted or declined in different countries. Since the severity of COVID-19 varies widely based on age and comorbidities, treatment was generally only initiated in higher risk individuals. The primary endpoint was death.
Treatment groups. Entire countries made different decisions regarding treatment with HCQ, essentially assigning themself to the treatment or control group. For the purposes of this study, selection into the treatment or control group was based on the same information and is essentially random.
We focus here on countries that chose and maintained a clear assignment to one of the groups for a majority of the duration of their outbreak, either adopting widespread use, or highly limiting use. Some countries have very mixed usage, and some countries have joined or left the treatment group during their outbreak. We searched government web sites, Twitter, and Google, with the assistance of several experts in HCQ usage, to confirm assignment to the treatment or control group, locating a total of 193 relevant references, shown in Appendix 12. We excluded countries with <1M population, and countries with <0.5% of people over the age of 80. COVID-19 disproportionately affects older people and the age based adjustments are less reliable when there are very few people in the high-risk age groups. We also excluded countries that adopted early widespread use of masks because these countries tend to have significantly lower spread, which we discuss in detail below.
Collectively the countries we identified with stable and relatively clear assignments account for 34.7% of the world population (2.7B of 7.8B). Details of the groups and evidence, including countries identified as having mixed use of HCQ, can be found in Appendix 12.
Analysis. We analyze deaths per capita with data from [Our World in Data]. To determine the effectiveness of treatment we could compare the death rates for the entire populations in the treatment and control groups, however we use the average of the individual country rates in each group in order to minimize effects due to differences between countries.
Since randomization was done at a coarse country level, we adjust for differences between countries and analyze confounding factors. We analyze deaths rather than cases because case numbers are highly dependent on the degree of testing effort, criteria for testing, the accuracy and availability of tests, accuracy of reporting, and because there is very high variability in case severity, including a high percentage of asymptomatic cases.


This was not a predetermined clinical trial, it merely analysed the data that was available, but there were a lot of patients to analyse , about 2 billion.
The critical part is that those countries who gave the treatment early in the life cycle of the patients illness, were the ones that fared best.

What it does not show of course is the side effects of HCQ.
My wife, who is a pharmacist, was outlining some of the unpleasant side effects that have made HCQ unsuitable, or even deadly for some people.
HCQ affects the white T- cells, so patients such as those on it for Rhematoid arthritis etc have to have their bloods monitored frequently.
Not sure if these countries had follow up bloods monitoring.
We may yet find that the long term side effects may be quite debillitating.
But I guess the side affects are probably slightly better outcome than dying.
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Aug 10 2020, 09:18 AM


Group: Member
Posts: 2,644

According to Science Daily
From the "There has to be something good come out of the pandemic" department, heresa nother one.
QUOTE
The lack of human activity during lockdown caused human-linked vibrations in the Earth to drop by an average of 50% between March and May 2020.

This quiet period, likely caused by the total global effect of social distancing measures, closure of services and industry, and drops in tourism and travel, is the longest and most pronounced quiet period of seismic noise in recorded history.

The new research, led by the Royal Observatory of Belgium and five other institutions around the world including Imperial College London, showed that the dampening of 'seismic noise' caused by humans was more pronounced in more densely populated areas.

The relative quietness allowed researchers to listen in to previously concealed earthquake signals, and could help us differentiate between human and natural seismic noise more clearly than ever before.

Co-author Dr Stephen Hicks, from Imperial's Department of Earth Science and Engineering, said: "This quiet period is likely the longest and largest dampening of human-caused seismic noise since we started monitoring the Earth in detail using vast monitoring networks of seismometers.

"Our study uniquely highlights just how much human activities impact the solid Earth, and could let us see more clearly than ever what differentiates human and natural noise."

The paper is published today in Science.


Would have gone up a bit this weekend, helped one of my kids shift house. Lots of banging and crashing.

Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Aug 9 2020, 11:58 AM


Group: Member
Posts: 2,644

From our local newspaper



QUOTE
“Previously we were producing pellets containing 200 to 300 masks,” he said
.

They must just add water to the pellet to make them full size.
They are then loaded onto Pallets for distribution.
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Aug 9 2020, 10:58 AM


Group: Member
Posts: 2,644

How could things possible get any worse??Here I am stuck at home in stage 3 COVID lockdown, and even if I wasn't in lockdown, ts the winter, so its cold, we and miserable outside.
So what happens?
No 1. The gas central heating control unit has a spanner symbol on it, it needs maintenance. Fixeruppers can't get a bloke here till next Tuesday. Its down to 10 degrees inside the house.
No2. our NBN phone/internet connection has died. After spending a frustrating 45 minutes waiting for Telstra to get back to me, then spending another twenty doing all the troubleshooting tests (that I had already done), they say that they MIGHT get a fixerupper bloke out here on Thursday.
Hot spotting to a mobile phone just doesn't cut it when you have multiple devices.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Aug 8 2020, 01:06 PM


Group: Member
Posts: 2,644

From AP News

QUOTE
MOSCOW (AP) — Russia will perceive any ballistic missile launched at its territory as a nuclear attack that warrants a nuclear retaliation, the military warned in an article published Friday.

The harsh warning in the official military newspaper Krasnaya Zvezda (Red Star) is directed at the United States, which has worked to develop long-range non-nuclear weapons.

The article follows the publication in June of Russia’s nuclear deterrent policy that envisages the use of atomic weapons in response to what could be a conventional strike targeting the nation’s critical government and military infrastructure.In the Krasnaya Zvezda article, senior officers of the Russian military’s General Staff, Maj.-Gen. Andrei Sterlin and Col. Alexander Khryapin, noted that there will be no way to determine if an incoming ballistic missile is fitted with a nuclear or a conventional warhead, and so the military will see it as a nuclear attack.

“Any attacking missile will be perceived as carrying a nuclear warhead,” the article said. “The information about the missile launch will be automatically relayed to the Russian military-political leadership, which will determine the scope of retaliatory action by nuclear forces depending on the evolving situation.”

The argument reflects Russia’s longtime concerns about the development of weapons that could give Washington the capability to knock out key military assets and government facilities without resorting to atomic weapons.

In line with Russian military doctrine, the new nuclear deterrent policy reaffirmed that the country could use nuclear weapons in response to a nuclear attack or an aggression involving conventional weapons that “threatens the very existence of the state.”

The policy document offered a detailed description of situations that could trigger the use of nuclear weapons, including the use of nuclear weapons or other weapons of mass destruction against Russia or its allies.

In addition to that, the document states for the first time that Russia could use its nuclear arsenal if it receives “reliable information” about the launch of ballistic missiles targeting its territory or its allies and also in the case of ”enemy impact on critically important government or military facilities of the Russian Federation, the incapacitation of which could result in the failure of retaliatory action of nuclear forces.”


It never ceases to amaze me how narrow is the scan of news in Australia.
This particular piece of news, assuming it is true, will have a profound effect on the world.
but I doubt it will get a mention in anything except the defence journals.

Now that should bring the doomsday clock a little closer.
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Aug 8 2020, 08:32 AM


Group: Member
Posts: 2,644

How about you two little boys go outside and sort this out in the sandpit.
  Forum: Investment Discussion

mullokintyre
Posted on: Aug 7 2020, 03:45 PM


Group: Member
Posts: 2,644

From Millenial
QUOTE
A video of a worship service happening inside a Walmart, reportedly in North Versailles, Pennsylvania, has the internet chirping. The churchgoers took to Walmart to come together in worship, as churches have been closed, but Walmarts are open.
The video was recorded by Nancy Halford and posted to her Facebook page, where it has been viewed over 1.1 million times.
It was on April 3 that Pennsylvania Governor Tom Wolf asked religious leaders in that state to "consider alternate forms of worship" as a result of the coronavirus. Wolf said "Religious leaders are encouraged to find alternatives to in-person gatherings and to avoid endangering their congregants. Individuals should not gather in religious buildings or homes for services or celebrations until the stay-at-home order is lifted."


Well, they took the govenor at his word.
Could well catch on here.
Scomo, being an adherent of the Hillsong Revivalist church would i am sure be happy to attend a service at Bunnings, or even better still, at half time in one the NRL matches he seems to like to attend.

Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Aug 7 2020, 12:00 PM


Group: Member
Posts: 2,644

Up another 12% today.
Whats your exit strategy BG??
Mick
  Forum: By Share Code

mullokintyre
Posted on: Aug 7 2020, 10:16 AM


Group: Member
Posts: 2,644

Not a bad idea.
pity Sanders never got the nod over the geriatric.
Geez, wtalk about hobsons choice.
An egotistical loony versus an 84 year old with degenerative brain function. Great.
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Aug 6 2020, 05:24 PM


Group: Member
Posts: 2,644

Nah, not into drugs.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Aug 6 2020, 02:16 PM


Group: Member
Posts: 2,644

Like I said yester Nip, you have become a guru.
Those other 80,000 odd sharescene members (the silent majority we keep hearing about???), are just hanging out for your next gem.
Soon as they see you post, wham they are off to their commsec account to hoover them up.
You have become a market maker. cool.gif
Mick
  Forum: By Share Code

mullokintyre
Posted on: Aug 6 2020, 02:13 PM


Group: Member
Posts: 2,644

Bought back intoGNC again, my spies tell me that its going to be a bumper year for grain this year.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Aug 6 2020, 10:51 AM


Group: Member
Posts: 2,644

Agh, the venerable permit system.
Was talking to my brother who is a builder down on Mornington peninsular.
Has to keep a record of every worker, contractor, delivery boy whoo comes on to a building site.
It is a three page document.
And it is very quickly driving him nuts. Already been visited by the police to check.
But the really important people do get their permits it seems.

The ACTU secretary Sally Mcmanus proudly displayed her permit on TWITTER this morning.
And whats her essential work?? To do appear on the ABC morning TV news show with Michael Rowland.
The self importance of the elites amazes me yet again.
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Aug 6 2020, 09:31 AM


Group: Member
Posts: 2,644

Once again, the hippocracy of peole rears its ugly head.


From The OZ

QUOTE
A Liberals are under fire for holding a 700-strong dinner for its state women’s council in an exclusive function room at Adelaide Oval in the same week as the state government reintroduced limits on funerals and weddings and a 10-person cap on visitors to private homes.

Sources told The Australian there was “genuine outrage” that the party would send such mixed messages by holding Thursday’s event, which has been catered for 700 guests at the William Magarey Room in the Riverbank Stand.

State director Sasha Meldrum told The Australian the event would be held in line with social distancing rules, with one person seated every 2sq m.

Other party figures said there was internal tension about the wisdom of holding such a huge event in the same week that weddings had again been capped at 100 and funerals at 50.

“It’s just confusing and it looks like there’s one set of rules for us and another for the punters,” one party member told The Australian. “We have a lot of members who would normally want to come who are older women but they feel quite torn about it.

“It’s causing genuine outrage among a lot of the membership.”


Politicians and bureacrats constantly harp on about the ignorant and selfish people who flaunt the rules.
They wonder why so many people don't take them seriously.
They wonder why theres such a level of mistrust.
I shakes me head.
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Aug 5 2020, 10:03 PM


Group: Member
Posts: 2,644

Gold and silver both running ahead.
Making me nervous.
Will put some sells in tomorrow and take a bit of profit off the table.
Mick
  Forum: Macro Factors

mullokintyre
Posted on: Aug 5 2020, 10:00 PM


Group: Member
Posts: 2,644

Yep, better info reflected in share price.
Hope you make a motza BG.
I bailed ages ago, so my interest is academic.

Mick
  Forum: By Share Code

mullokintyre
Posted on: Aug 5 2020, 03:59 PM


Group: Member
Posts: 2,644

Starting to get into astro areas, not sure these sorts of rises are sustainable.
Have put some sell orders in to take a bit off the table.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Aug 5 2020, 03:16 PM


Group: Member
Posts: 2,644

Must be a lot of people follow your tips Nip, up about 57% today.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Aug 5 2020, 10:34 AM


Group: Member
Posts: 2,644

expecting a good result from IPL.
Been some keen buying last week or so, so somebody must be in the know.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Aug 4 2020, 08:17 PM


Group: Member
Posts: 2,644

Notwithstanding what I just wrote, I have spent a week or so slowly selling down some of shares and shifting into cash just prior to then moving into some farm land.
I just wanted a little diversification, and I also think some of the stock valuations are unsustainable.

Mick
  Forum: Macro Factors

mullokintyre
Posted on: Aug 4 2020, 08:13 PM


Group: Member
Posts: 2,644

From The OZ

QUOTE
The dollar value of deferred loans continues to rise as more companies feel the impact of COVID-19, with the lockdown in Victoria likely to lead to more deferrals.

Figures released by the Australian Prudential Regulation Authority showed repayments were frozen on loans worth $274bn at the end of June, or 10 per cent of total loans worth $2.7 trillion.

While this was $8bn higher than the May figure of $266bn, the percentage figure was unchanged at 10 per cent.

Commonwealth Bank chief executive Matt Comyn said on Tuesday that CBA was committed to supporting its customers in their time of need, particularly Victorians who were facing additional challenges from the latest lockdown restrictions.

“We fully appreciate that the circumstances of individual customers can change very quickly, which is why we are focusing very closely on our customers in Victoria during the check-ins we are making at the moment to see what further help we can provide to them,” Mr Comyn said.

CBA, he said, had doubled the number of people in its financial assistance teams over the past few months.


Theres some scary numbers there.
The $274 billion in deffered loans is seriously big.
The gross Australian Government debt is llsted at around $570 billion.
This is dwarfed by the by the 2.7trillion in loans outlayed by the banks to private industry.
We often hear much hand wringing about Govt Debt, but perhaps we should be more worried about private Debt.
mick

  Forum: Investment Discussion

mullokintyre
Posted on: Aug 4 2020, 06:54 PM


Group: Member
Posts: 2,644

Well, there is no reason to have cash in the bank.
Effective negative interest rates.
So what asset classes are let?
property is relatively illiquid.
Items that can be traded on an exchange are more liquid, and have the potential for greater gains.
Gold is in a similar place.
Mick
  Forum: Macro Factors

mullokintyre
Posted on: Aug 4 2020, 10:13 AM


Group: Member
Posts: 2,644

Surprised that WES didn't take a hit on the open this morning.
Given that about 15% of their stores in Vic metro area are closed to the public, you would think the market would take a slightly less sanguine view of WES.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Aug 4 2020, 10:09 AM


Group: Member
Posts: 2,644

Have absolutely no idea why it would be bullish given the global issues, but hey, we never argue with the market!.
mick
  Forum: Macro Factors

mullokintyre
Posted on: Aug 4 2020, 09:27 AM


Group: Member
Posts: 2,644

For those of us who remember the GFC crisis and what preceded and succeeded it, there was a significant fall in house prices.
In the USA, mortgages and loans are not tied to a mortgagees entire asset base.
What this means is that if you default on your mortgage and lose your house, the lenders can't come after your other assets unless you put everything up as collatteral.
So, a result of the fall in house prices meant that lots of folks had a negative level of equity as the loan value outstanding was higher than the value of the house.
So many just walked away.
It gave rise to the concept of "Jingle Mail" whereby the home owner posted the keys of the house to the bank and walked away to start afresh somewhere else.
There is no doubt that in the current global crisis, house prices will fall, and once again home buyers will be faced with the same dilemma - do I just walk away?
Given the sort of Chaos in so many US cities with riots, anarchy etc , not having a job, not having a fall back social services remedy, moving away to a cheaper area will have a lot of attractions.
Utah, Colorado, Idaho all look much better thanks.
one thing I have noticed just recently is a subtle change in the ads that pop up on every web site you visit.
They are subliminal in many respects, you don't actually have to click on them for them to register.
So I have started seeing a proliferation of ads targeting seniors to reverse mortgage their properties.
like This One
I can only see this ending badly.
The jingle mail will be starting up gain shortly for most classes of people (sans the mega rich of course), but I expert the percentage of senior will be higher than last time if too many take "advantage" of the reverse mortgage policy.
On a further note, it is really sad to think that someone who has retired and is now a senior still has a mortgage.

Mick
  Forum: Investment Discussion

mullokintyre
Posted on: Aug 3 2020, 10:45 AM


Group: Member
Posts: 2,644

This morning in the first 45 mins MKR has swung from a high of 70 to a low of 50.
Thats some volatility!
Mick
  Forum: By Share Code

mullokintyre
Posted on: Aug 3 2020, 09:55 AM


Group: Member
Posts: 2,644

people rightly get very annoyed at those who seem to disregard the constantly changing rules and regs surrounding the CV19.
But as I have pointed out a few times, govts seem to make a rod for their own backs due to a lack of consistency in applying their rulea.
The latest case in point: from ABC NEWS
QUOTE
Queensland has recorded one new coronavirus case overnight, Premier Annastacia Palaszczuk says.

The positive case was a returned traveller who recently returned from overseas and flew to Maroochydore from Sydney on Friday with Jetstar.

The man in his 20s is a consular official coming from Kabul in Afghanistan and is exempt from hotel quarantine.

Chief Health Officer Jeannette Young said the man was a consular staff member who was permitted to fly on from Sydney to Queensland after returning from overseas as there were a small number of nationally agreed exemptions.

"One of those exemptions is consulate staff so they are able to on-travel to their home and to quarantine in their home," she said.

So what is so special about consular staff?
This whole virus epidemic was started by overseas travellers bring ing it in.
And yet we still have international fights bringing more potential carriers in.

And for some bizarre reason, a consular official travelling from Afganistan is not required to immediately go into hotel quarantine upon arrival.
Has the the Govt done a deal with the virus whereby it won't infect consular staff??
If I had been caught doing this, I would be taken the bastards to the high court and demanding that I get the same treatment as consular officials.

Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Aug 2 2020, 06:55 PM


Group: Member
Posts: 2,644

Much has been made of the need to develop Vaccinrs against COVID.
As usual, Big pharma will be maximising ther opportunities for profit, and like all good multinationals, minimising the chances of downside (to them,).

From Rueters
QUOTE
AstraZeneca has been granted protection from future product liability claims related to its COVID-19 vaccine hopeful by most of the countries with which it has struck supply agreements, a senior executive told Reuters..
With 25 companies testing their vaccine candidates on humans and getting ready to immunise hundred millions of people once the products are shown to work, the question of who pays for any claims for damages in case of side effects has been a tricky point in supply negotiations.

“This is a unique situation where we as a company simply cannot take the risk if in ... four years the vaccine is showing side effects,” Ruud Dobber, a member of Astra’s senior executive team, told Reuters.

“In the contracts we have in place, we are asking for indemnification. For most countries it is acceptable to take that risk on their shoulders because it is in their national interest,” he said, adding that Astra and regulators were making safety and tolerability a top priority.

In their national interest my arse. Its in the interests of the pharmacuetical companies.

Mick

  Forum: Off Topic Chat

mullokintyre
Posted on: Aug 1 2020, 08:30 PM


Group: Member
Posts: 2,644

Have heard that as of Wednesday at 12:00 a.m. Melbourne metroplitan areas will go into Stage 4 Lockdown.
It will be NZ style lockdown that will last 6 weeks.
All Public Transport will be shut down.
All construction work will stop.
Some abatoirs will close.
Students in Years 10 to 12 in Melbourne and all students in regional Victoria will return to online learning , so there is no disadavantage for students in Melbourne.
All shops/businesses will clod\se, except supermarkets, chemists, hospitals and petrol stations.
Restaurants will remain open for takeway and delivery only.
Only 1 person will be allowed out of the house at anyone time to go shopping.
No one will be allowed to move more than 5 km from their home (including bike riding, running or walking).
Execersise will be permitted but you must wear a mask.
Regional Victoria including Mitchell shire will move to stage 3 Restrictions.
There might be a few problems if they bring in stage 4 restrictions to regional Vic.
There is a lot of people who would travel more than 5 kms to find the local store, much less a supermarket.
Living in regional Victoria, I am devastated we have had to revert to stage 3.
Some of the regional local govt areas have had no cases in the last 30 days.
In the local govt region where I live there has been 3 cases in the last 30 days. Hardly a crisis.
As for closing all schools so Melbourne students are no disadvantaged, what a joke.
Most regional kids suffer massive disadvantages every year because of lack of resources, having to travel large distances by bus, and lack the sporting facilities available in melbourne.
As usual, the vic govt has little understanding or even interest in the areas outside of Melbourne.
Mick



  Forum: Off Topic Chat

mullokintyre
Posted on: Aug 1 2020, 11:43 AM


Group: Member
Posts: 2,644

From my fav satirical site Babylon Bee

QUOTE
WASHINGTON, D.C.—President Trump has called the upcoming election unfair and rigged, saying the increase in mail-in votes would jeopardize the legitimacy of the results. Instead, Trump has proposed that we replace the system with a new one where an eligible male heir simply inherits the presidency once the old ruler dies.


The innovative new system will simply grant the presidency to the next male in a kind of "line of succession." Congress will not be needed, of course, since the ruler will graciously take upon himself the heavy burden of making all decisions for the country.

"We could have a big seat that the ruler sits in," Trump said at a press conference Thursday morning. "A huge seat, really big. Nice and plush. And a kind of round, golden hat. And you know what else would be neat? A little golden stick or rod. You could wave it around when you order people to do things. And if they won't do them you just bop them on the head with it. Or shout at someone to cut their head off."

"Oh man, and a cape. A cape would be tremendous."

Among the many benefits of the new system touted by Trump are more efficient decision-making, no more bickering from Congress, and fun titles to put behind the ruler's name. He says he thinks he'll select "His Majesty Donald Trump, First of His Name, Defeater of the Libs, Slayer of Hillary, Sovereign of All America" as his title, should we go ahead with this "great new idea."


I am sure it would work well.
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Jul 31 2020, 09:39 PM


Group: Member
Posts: 2,644

One of the biggest problems of those in control is a consistent lack of consistency(does that make sense??).
I am not a beleiver in deities, and think those that do lack intellectual rigour, but nevertheless, I will support believers in their wish to perform their worshipping without b prejudice.
Which brings me to two incidents that highlight the glaring lack of consistency.
Firstly, from7 News
QUOTE
Ten Churchgoers were fined 16,000 for attending a Greek orthodox Church in St Albans.

Fair enough, they should have known better.
But then we have this.
From ABC NEWS

QUOTE
Hundreds of Muslim worshippers have marked one of Islam's holiest days at a Sydney mosque after the NSW Government granted it a temporary exemption from coronavirus restrictions.
Key points:
NSW Health said exemptions were only granted in "exceptional circumstances"
It said the mosque had a thorough COVID-19 Safety Plan
The mosque will split attendees into four areas, with no more than 100 in each

Up to 400 people were allowed inside the Auburn Gallipoli Mosque in Sydney's west under the one-off exemption, granted by NSW Health Minister Brad Hazzard.

Under NSW coronavirus restrictions, places of worship are limited to 100 people, or one visitor per four square metres.

The mosque's president Abdurrahman Asaroglu said those attending the annual festival of Eid al-Adha, also known as the festival of sacrifice, would be subject to temperature checks, sign-in sheets, and it would be mandatory to wear a mask.

Worshippers at the mosque will be expected to bring their own prayer mats and abide by social distancing rules while praying.

Dr Asaroglu said attendees would be spread out across "four zones" including the two levels of the mosque, an adjoining function hall and carpark.

There is a fair bit of difference between ten people and 400.

In the same way that the various govts let the BLM protests go ahead (Dan Andrews said he would march in it if he could), but arrest the dorks who protest about wearing masks.

Having set the precedent, you can't then turn around and says its different.

Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Jul 31 2020, 09:17 PM


Group: Member
Posts: 2,644

Tesla may have a few problems, but its enigmatic Leader waging war against Bill Gates is one they probably don't need.
it seems that Gates bought an Electric car, but not a tesla. He bought a Porsche.
The tooing and froing is Here

Now to top it off, Hummer have released an all Electric Hummer. I bet Terminator (aka Arnie Schwarznegger) will be rapt.
From Zero hedge
QUOTE
GMC is set to unveil the first-ever all-electric High Utility Maximum Mobility Easy Rider, otherwise known as Hummer, this fall.
"The First-Ever GMC HUMMER EV has zero limits, and our open-air design provides powerful proof. For the unique open-air experience, easily remove the four roof panels and front T-bar to let the world in. We'll continue to keep you informed as we prepare to show the world our revolutionary all-electric, zero emissions, zero limits super truck," GMC's website said. GMC makes some very impressive claims, first, it says the new electric Hummer will have 1,000 horsepower, able to rocket the vehicle from 0-60 mph in 3 seconds. Now, wow, that's supercar fast, if true... A press release by GMC said the "all-electric super truck" would be unveiled to the public this fall and "will begin production in fall 2021."

"GMC announced today that its all-electric super truck will debut later this fall and will begin production in fall 2021. Details about the GMC HUMMER EV’s remarkable on- and off-road capabilities will be shared closer to its reveal," the release said.

Not much is known about the design, but here are some behind-the-scenes shots of what the unfinished all-electric Hummer looks like.


If the figures are correct, it will outperform a Tesla Model 3.
So, a company that has a petty good record at producing cars, has a large dealer network in place, has a few spare factories to build cars, has put in a lot of work into logistics, customer service, spare parts etc may be a bit of a challenge to Elon and tesla.

The only part thats missing is how I can tie this into Ideanomics.

Mick

  Forum: Investment Discussion

mullokintyre
Posted on: Jul 31 2020, 02:00 PM


Group: Member
Posts: 2,644

Yikes, an Intraday high of 65!!
How lucky am I not to have taken that early 51.
Still sitting at 58.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Jul 31 2020, 11:56 AM


Group: Member
Posts: 2,644

Quarterly report out has lots of motherhood and apple pie stuff about social responsibility, environmental plans etc.
Precious little about what they plan to do about actually getting value for shareholders.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Jul 31 2020, 11:52 AM


Group: Member
Posts: 2,644

Gold and silver starting a bit of a recovery rally.
Is it too early to see another upside??
Mick
  Forum: Macro Factors

mullokintyre
Posted on: Jul 31 2020, 11:50 AM


Group: Member
Posts: 2,644

AAAAGGGHHHH, Just what CSL needs.
Trump has endorsed the CSL approach to Covid vaccine.
From The OZ
QUOTE
US President Donald Trump has thrown his support behind a therapy to fight COVID-19, which Australia’s biggest health company CSL is developing with other plasma manufactures

At a White House roundtable with Mr Trump, CSL chief executive Paul Perreault says the company is weeks away from beginning a clinical trial of plasma-based hyperimmune therapy to combat COVID-19.

Mr Trump endorsed the trial which CSL - the biggest company on the ASX - will complete as part of a global alliance it forged with Takeda and other plasma therapy manufacturers earlier this year.

The therapy focuses on using antibodies found in plasma donated from people who have recovered from COVID-19 to help others fight off the high infectious disease that has killed 670,000 across the globe, infected millions of others and exiled Victoria from the rest of Australia.

Mr Trump said the plasma-based therapy was “a more delicate way of doing things”. He has previously advocated the use of hydroxychloroquine to ward off coronavirus, despite his own public health officials saying it is ineffective.


All the never trumpers will start badmouthing the therapy and CSL will tank.
Mick
  Forum: By Share Code

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


Group: Member
Posts: 2,644

Yeah, was a bit late in getting that 51 cent high.
Been reading the quarterly results.
Lots things to like about this company.
They produced 3600 oz in barely two months for a 9 mill return.
The annual production could well be in excess of 200k per year, especially if they ramp up the efficiency of the newly installed plant that is running at a below par 75% efficiency.
With total borrowings of 24mill USD, should easily cover the debt in the short term.
Unhedged, both in gold sales and in their USD borrowings.
The two will offset each other.
More drilling an exploration in place.
Decided to hang in for a little longer.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Jul 31 2020, 09:19 AM


Group: Member
Posts: 2,644

Can't argue with your financial logic.
But after taking such a bath on this one, I am not yet mentally ready to embrace it again.
perhaps if RMS did pick it up, the decision would be taken out of my hands.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Jul 31 2020, 09:02 AM


Group: Member
Posts: 2,644

The market seems more keen on ARN than VMC.
I have small chunks of both.
Happy to sit and wait.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Jul 31 2020, 08:12 AM


Group: Member
Posts: 2,644

QUOTE
NO contact tracing and very hard to get a test. The positive rate was 22% .... YES 22% of those who managed to get a test came back positive.
NO contact tracing.


If that rate is correct, then they should be approaching herd immunity based on an infection rate of 1.2.
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Jul 30 2020, 01:19 PM


Group: Member
Posts: 2,644

ARN up 12 % today.
Hoping it revisits the pre covid highs of 27.
Thanks to triage for hilighting this one.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Jul 30 2020, 01:02 PM


Group: Member
Posts: 2,644

SBM has hit the big time media wise.
ABC has a story about the Sons of Gwalia not being the deepest gold mine in OZ.

From ABC NEWS

QUOTE
A $100 million expansion of Australia's deepest gold mine is nearing completion, as the precious metal continues to trade at record levels.

Key points:
The Gwalia mine was originally established in 1897 by Herbert Hoover, who later became the 31st President of the United States.
St Barbara restarted mining at Gwalia in 2008 and has produced more than two million ounces of gold
Mining at Gwalia is planned to reach a depth of 2,300 metres below the surface by 2031
The project to extend the life of the Gwalia underground mine in Western Australia's northern Goldfields has been ongoing since 2017.

Kilometres of new ventilation have been installed by sinking large new shafts to send chilled air from the surface to the miners working below.

Craig Jetson, managing director of Melbourne-based gold miner St Barbara, said the final ventilation shaft should be completed next month.

The shaft has reached a depth of 480 metres and has another 37 metres to go.

Mr Jetson said the investment in Gwalia's future would more than pay for itself over the next decade.

"We will certainly look to have very, very strong margins for a long period of time and a stable operation," Mr Jetson told analysts and media while unveiling the miner's quarterly results.

Hopefully that final shaft will give the stock a boost.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Jul 30 2020, 12:34 PM


Group: Member
Posts: 2,644

Currently 1.38.
I got 17k worth of the stock in the demerger.
My ALK holding did not go down by 17K, so I reckon its a winner.
Will probably buy more.
Wait till the dust settles, and see what the base price turns out to be.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Jul 30 2020, 12:32 PM


Group: Member
Posts: 2,644

Yep still in, my average buy in price is .245, so when it gets to 49, I will be thinking about selling half and taking he profits.
The rest can then be free carried.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Jul 29 2020, 02:28 PM


Group: Member
Posts: 2,644

At ther risk of being accused of being aright wing (or left wing) conspiracy theorist, I found the following interesting.
From UNZ news

QUOTE
While the Covid-19 epidemic continues to drag on in the United States, it’s largely over in Sweden where fatalities have dropped to no more than 2 deaths per day for the last week. Sweden has been harshly criticized in the media for not imposing draconian lockdowns like the United States and the other European countries. Instead, Sweden implemented a policy that was both conventional and sensible. They recommended that people maintain a safe distance between each other and they banned gatherings of 50 people or more. They also asked their elderly citizens to isolate themselves and to avoid interacting with other people as much as possible. Other than that, Swedes were encouraged to work, exercise and get on with their lives as they would normally even though the world was still in the throes of a global pandemic.

The secret of Sweden’s success is that its experts settled on a strategy that was realistic, sustainable and science-based. The intention was never to “fight” the virus which is among the most contagious infections in the last century, but to protect the old and vulnerable while allowing the young, low-risk people to circulate, contract the virus, and develop the antibodies they’d need to fight similar pathogens in the future. It’s clear now that that was the best approach. And while Sweden could still experience sporadic outbreaks that might kill another 2 to 300 people, any recurrence of the infection in the Fall or Winter will not be a dreaded “Second Wave”, but a much weaker flu-like event that will not overwhelm the public health system or kill thousands of people.

Sweden is also criticized for its fatality rate which is higher than some but lower than others. As of today, the number Coronavirus deaths in Sweden is 5,667 which is considerably higher than its neighbors in Norway and Denmark but lower than Belgium, Italy, France, the UK and Spain. In other words, Sweden is somewhere in the middle of the pack. Interestingly, Sweden compares quite well to poorly-governed states in the US with similar-sized populations. Take a look:

Sweden: No Lockdown
Population of 10.2 million
Coronavirus deaths –5,667

Lockdown State#1: New York City
Population– 8.3 million
Coronavirus deaths– 32,133 (5 and a half time more than Sweden with 2 million less people)

Lockdown State#2: New Jersey
Population– 9.2 million (1 million less than Sweden)
Coronavirus deaths– 15,684 (nearly 3 times as many as Sweden with a smaller population.)

Lockdown State#3: Massachusetts
Population– 6.9 million #.3 million less than Sweden)
Coronavirus deaths– 8,380 (1 and a half times Sweden’s total with 3 million less people.)


The writer is obviously American which as why he compared the Swedish figures to Democrat states in the US.
But if you take Belgium, which has a population of 11.5 million has had a touch under 9,000 deaths so far, a little under twice as many.
The Uk, with a population 66.6 million about 6 times that of Sweden but at 45,000 deaths, it is 9 times greater than Swedens.
Both Belgium and UK had some fairly serious lockdown in place.
There are most likely other reasons for these discrepancies, but one can reasonably argue that perhaps all the lockdowns may not have been the best solution.
This is especially so when you consider that because it did not shut down schools, businesses etc, Sweden was the one Country in the EU (and most probably the world ) that had thesmallest GDP fall
according to Business insider


From Bloombergs

QUOTE
“Sweden’s top health authority says people who have had the novel coronavirus are likely to be immune for at least six months after being infected, whether they’ve developed antibodies or not….A recent study from King’s College London showed that the level of antibodies may drop to a degree that makes them undetectable as soon as three months after infection. However, the body also mounts other forms of immunity responses, including from so-called T-cells, which appear to play an important role in protecting against reinfection with Covid-19.

Research from Sweden’s Karolinska Institute has indicated that about twice as many people infected by Covid-19 have developed a T-cell mediated immunity response as those who have a detectable level of antibodies.

“The risk of being reinfected and of transmitting the disease to other people is probably very close to zero,” Tegnell said. ..” Sweden “probably” has achieved a fairly high rate of immunity, which he predicts will protect his country from new outbreaks.

“The upshot is that the epidemic is now slowing down very drastically, in a way that I think few of us would have thought a few weeks ago,” he said.


So, have we made life so difficult for ourselves and future generations somewhat needlessly?
I don't know the answer, but I am certain that the people pushing the lockdown theories don't know either.
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Jul 29 2020, 12:19 PM


Group: Member
Posts: 2,644

OOPS, I did not edit out the F#@%^ bad language.
My apologies.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Jul 29 2020, 11:47 AM


Group: Member
Posts: 2,644

Rather surprised that ALK has not fallen today a bit more today.
Given that a chubk of their business(together with 20 mill in seed capital) has been offloaded into the new entity ASM.
Maybe the market thinks that ALK is better value without it.
Anyway, sold a chunk of mine this morning as I wait to see how much the ASM shares debut at.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Jul 29 2020, 11:40 AM


Group: Member
Posts: 2,644

From a former work colleague still in the IT industry.
I asked him if he had heard of Whitehawk.

QUOTE
Nope, although I imagine it will be popular with so much telework going on .

It's a really hot market right now because so many IT departments have been asked to turn their sticky tape local networks into remote work hubs with flawless VPN access over a 100mb cable line that cuts out at 60% humidity and surprise surprise it's fucking hard. I can't see many sysadmins earning $60k to maintain a local network putting their hand up to take on cybersecurity without double the pay, so they get externals in.

Also employees will be sharing everything over the internet instead of locally, so every company is now at risk of GDPR and PCI breach: even if they were compliant, their policy is now completely irrelevant because it all assumes working from the office.

The trick is the auditors don't actually fix the issues they find: they turn around and sell bog standard cyber insurance wrapping in a shiny fintech coating. It's very easy to sell insurance to the C levels when it's a lot cheaper than finding and paying good techs to actually do the work. I reckon companies like whitehawk promising flexible contract auditing can specialise in writing automated audit software just designed to spit out scary reports, and leave someone else higher paid to actually implement. It's basically the airtasker of security, hoovering up all the easy cheap work and leaving real jobs for real professionals

I see a lot of the same in my industry with performance testing: digital marketing firms will pump out automated 100 page audits of all the issues wrong with a site, then when asked to fix them say 'we don't do that, go employ a developer'. They milk it for six months or so while the developers trawl through all the bullshit 'issues' that have a 0.001% effect on traffic while the agency takes low hanging fruit. The poor companies just don't have the technical skills to call bullshit, and are terrified of the cost of employing someone who can, so they rinse and repeat the cycle

Could be another source of insurance crisis in the making, a'la GFC: everyone kind of knows web security is a house of cards, all it would take is one big breach to bankrupt the lot. I've never once seen or heard of a company take full PCI compliance over cyberinsurance, it's all insurance all the way down to avoid upfront costs. They all treat it like it's only for 'real' ecommerce companies, except they don't realise they are one: everyone is now.

Interesting.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Jul 29 2020, 10:39 AM


Group: Member
Posts: 2,644

Good Move Mactrader.
The announcement out today is a bit of a fluff piece, telling the world where they are going to drill.
Might take notice when the results come out.
The most recent capital raising to the sophisticates allowed a stag profit that will suppress things until the next cap raising is required.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Jul 29 2020, 10:29 AM


Group: Member
Posts: 2,644

Got my ASM shares allocated as of this morning.
No price, can't trade them as yet.
I tried to contact the admin about getting a thread set up for ASM, but got a PHP error.

Mick
  Forum: By Share Code

mullokintyre
Posted on: Jul 28 2020, 11:24 PM


Group: Member
Posts: 2,644

Thanks to member Neil03 who put me onto this share.
Its been a meteoric rise over the past few days, up 50%.
penny shares always carry some inherent risks, but this one carries a few extra.
Firstly, its main asset is a 50% joint venture in Myanmar.
The govt owns the other half.
The tenements are quite attractive, Myanmar was one of the highest volume producers of Lead and Silver in the early1900's.
Not exactly a sovereign stable state, but it seems to be improving( or maybe just not getting any worse?).
The fact that the govt owns half means that approvals , licenses etc will be no problem/
And pesky items like environmental effects of mining lead won't bother the govt.
There is also the attraction of Cheap labour.
In previous posts, it was mentioned that mark Creasy was the largest shareholder in the com.
This is a plus , as he is very knowledgeably and his Yandall investments vehicle has an excellent track record.
Against this, Yandal's 11% holding has been pushed back into second place behind Perilya Limited. which owns a sizeable 18%
Perilya Limited is the carcass of the Perilya mines, which was privatised by the Chinese majority owners and delisted from the ASX back in 2012.
It still operates mines in Broken Hill.
Their website looks like it is still an OZ company, but all the notices stopped in Dec 2013.
It is owned by a number of Chinese companies.
These Chinese connections will most certainly be useful in smoothing the way with the Myanmar Govt.
So, I am wondering what are the risk rewards with MYL?
If the share price fell back below 0.06 cents mark, I might take a small slice, but I think all the potential good news is factored in.
Given their cash position of 15mill, and with about 3.2 mill in expenses per quarter, they can keep going for at leat another year.
I suspect that then Perilya will inject some for funds and increase their stake in the Co.
Mick


  Forum: By Share Code

mullokintyre
Posted on: Jul 28 2020, 01:22 PM


Group: Member
Posts: 2,644

Profit taking time.
After gold pushed within 20 bucks of the magical 2000, its suddenly dropped 40 bucks.
Silver after climbing to 26.47 high, is smashed back to 24.59.
The big question is, wi;ll it follow suit in the US market overnight??
Nothing in terms of funnymentals have changed, just the sentiment.Reckon they will both head down overnight.
Mick
  Forum: Macro Factors

mullokintyre
Posted on: Jul 28 2020, 09:26 AM


Group: Member
Posts: 2,644

ALK's soon to be demerged subsidiary ASM has produced another sample of its high purity ti from its new process that reduces energy use by 50%.
With gold also leaping higher overnight, should be a good day for ALK.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Jul 27 2020, 10:57 AM


Group: Member
Posts: 2,644

MKR and ARD both hit yearly highs today.
Silver to the $23 mark on Asian trading.
Don't know if the Commercials will be able to knock it down with their paper trading this time round.
Onwards and upwards.
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Jul 27 2020, 10:52 AM


Group: Member
Posts: 2,644

SVL approaching those highs of 21.5 back in 2016.
Its hard to believe that this stock was valued at 39 back in 2015.
Would be nice to see those days again.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Jul 27 2020, 09:59 AM


Group: Member
Posts: 2,644

Great quarterly report out.
Record production for the quarter and the year in total.
$185 mill in cash and gold on hand.
Bigger out put forecast for next year.
You are right Triage, they could swallow up DCN in one go.
Would be the ultimate irony for me.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Jul 26 2020, 10:06 PM


Group: Member
Posts: 2,644

Every now and then interesting things pop up in the media.
The following URl points to a map of the USA that shows the biggest trending 'googled" word or phrase on a daily basis for each of the states.
Analytics
In the quick look I had, i noticed that there was a day in Feb 2010 when the most searched phrase in every single US state was "Adele".
Icloud, Vine, Frozen, Nike and Angry Birds were other phrases to peak in every state on one day.
Note that there is a difference between the most searched word and the highest trending search.
The highest trending is the one that has had the biggest increase in search traffic for the period.
If we looked at the top ten search words for the last ten years, its pretty boring.
The list is headed by facebook, youtube amazon, gmail and google itself
Not sure why people google google, but there it is.
The complete list can be found Here

Mick

  Forum: Off Topic Chat

mullokintyre
Posted on: Jul 26 2020, 03:49 PM


Group: Member
Posts: 2,644

From ABC NEWS

QUOTE
An international tourist has been killed and another seriously injured in a four-wheel-drive rollover on Fraser Island off south-east Queensland on Sunday morning, police say.

Police said it was believed the four-wheel-drive with four international tourists on board was travelling along 75 Mile Beach at low tide when it lost control and rolled, about 1.5 kilometres north of Eli Creek about 7:00am.

The driver of the vehicle was pronounced dead at the scene.

A passenger in the back of the vehicle suffered significant injuries and has been airlifted from the island for further medical treatment.


Why have we still got International Tourists in OZ??
I can't go to Queensland, cos the borders closed.
But international tourists don't seem to have a problem.

Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Jul 26 2020, 03:26 PM


Group: Member
Posts: 2,644

Well, I guess thats the end of it.
Environmental Lawfare will the project and eventually the company.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Jul 26 2020, 01:26 PM


Group: Member
Posts: 2,644

Sometimes, American English needs a little translation into real English.
What the sleazy bastard is really saying is "How can we convince the Australian Government to make some legislative or policy changes that will allow our company to siphon some of those billions into our pockets".

Mick (on a cynical day).
  Forum: Off Topic Chat

Poll: Uranium
mullokintyre
Posted on: Jul 26 2020, 01:19 PM


Group: Member
Posts: 2,644

The US govt is calling for tenders to develop small portablre nuclear reactpors to be used in space colonisation.
from DOD

QUOTE
A reliable, durable energy source is a crucial element to enable the long-duration exploration of space and allow sustainable human presence in the harsh space environment. Battelle Energy Alliance, LLC (BEA), management and operating contractor of the Idaho National Laboratory, in collaboration with the Department of Energy (DOE) and the National Aeronautics and Space Administration (NASA), puts forth this request for information (RFI) on innovative technologies and approaches for preliminary designs of a fission surface power (FSP) system to test and validate operation on the Moon.

This RFI will inform a subsequent request for proposals (RFP) for Phase 1, which will culminate with a preliminary design of a FSP engineering demonstration unit (FSP-EDU). NASA intends to sponsor a second competitive procurement for Phase II, which will include a final FSP design together with manufacturing, construction, and ground testing of a prototype FSP-EDU. Phase II will culminate with an additional test-qualified FSP flight system (FSP-FS) delivered to the launch site for deployment to the Moon. The RFI seeks responses from industry manufacturers and partnerships capable of designing, building, and operating the FSP-EDU and FSP-FS. The prototype FSP-EDU will resemble to the greatest extent practicable all aspects and features of an actual subsequent FSP-FS for deployment to the Moon, which must include extensibility to Mars.

Additionally, this RFI seeks responses which clearly detail specific technology maturation challenges, development risks, and tradeoffs associated with leveraging mature technologies versus developing nascent technologies. NASA, DOE, and BEA plan to take advantage of industry’s engineering design processes and practices throughout Phase I and Phase II, and will establish performance metrics for demonstrated operational reliability and robustness. BEA recommends that respondents consider forming partnerships to provide fully informed industry responses. The planned solicitation presumes industry partnerships will need to be formed with sources that have demonstrated capabilities in nuclear energy, power conversion systems and radiators and space flight hardware systems development, integration, launch and operation.

NASA, DOE, and BEA anticipate hosting a Government-Industry technical meeting via webcast in August 2020, an “Industry Day,” to facilitate further communications regarding the expectations of the complete program to develop and demonstrate the FSP-EDU and final FSP-FS for deployment to the Moon.



According to Time Magazine

QUOTE
the plan includes two phases, described as first, "Developing a reactor design" and second: "building a test reactor, a second reactor be sent to the moon, and developing a flight system and lander that can transport the reactor to the moon."
That date seems extremely ambitious, also given that to be rocketed up into space by either NASA or SpaceX, the portable rectors would have to be under 7,700 pounds, would be capable of generating uninterrupted electricity of at least 10 kilowatts, and must be able to run autonomously for a minimum of ten years.


Numerous companies have for the past few years been developing portable nuclear power for earthly applications, including TerraPower, a Seattle-area venture backed by Microsoft co-founder Bill Gates."The goal is to have a reactor, flight system and lander ready to go by the end of 2026," the report says.S with so much of the cutting edge technology that eminates from the us Defence dept, NASA, and other Federal Agencies, the spinoffs for the commercial and public sector can be significant. (Think GPS , jet engines, LASERS, and KEVLAR products for starters).
Imagine if they succeeded in developing small portable reactors, what it would do for remote areas that struggle for Lack of power.
And it would be even better if they were fusion reactors rather than fission reactors, and then the long term effects of radiation are diminished greatly.
Would be ok for Uranium miners too!
Mick

  Forum: Macro Factors

mullokintyre
Posted on: Jul 24 2020, 03:30 PM


Group: Member
Posts: 2,644

I have always thought that it made enormous sense for US companies to shift their manufacturing from Asia to Mexico.
1. The labour costs are extremely low.
2. Relatively stable government.
3.Transport costs are reduced.
4. If there are plentiful jobs available in Mexico, there is less incentive for the Illegal Alien trade.
5. There is less reasons to get involved over the coming stoush re the south china sea.

Mick
  Forum: Investment Discussion

mullokintyre
Posted on: Jul 22 2020, 10:14 PM


Group: Member
Posts: 2,644

Despite the risk of being accused of being Partisan, I was a little bemused by the announcement that the Victorian Government has appointed Bill Shortens wife Chloe to the board of Alfred Health.
FromThe OZ

QUOTE
Chloe Shorten might not have known how inspiringly timely her new board role will be in Victoria’s escalating pandemic. No doubt masked up, Shorten’s experience in crisis management and her expertise in reputational risk management, will be well received in her new role on the board at Alfred Health.

Shorten has been appointed to the Victoria healthcare service board by the Victorian government. She joins a mix of former health workers and business executives that oversee the leading tertiary teaching hospital. The Alfred is the second oldest hospital in Victoria, and the oldest hospital still operating on its original site, Commercial Road, Melbourne.


The lovely Chloe has had a career as a maketing assistant and in Communications before retiring and looking after children (an admirable occupation I hasten to add).
Apart from an appointment to the board of Industry Fund Services (a slush fund co owned by the Industry Super funds), Chloe has written two books about family relationships,, unfortunetely neither were best sellers.

So, with no management experience, no medical experience, no financial expertise, no education or training expertise, an unfinished MBA, just what exactly does Chloe bring to the Boardroom, apart from her gender?

talk about jobs for the girls.

Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Jul 22 2020, 01:22 PM


Group: Member
Posts: 2,644

The real question is how many of those 3410 cases turned out to be positive.
I know of at least one, a woman who had the test then decided to travel down to South Gippsland for some stress leave.
Caused havoc down in Orbost and other areas.
This publicity will mean that people without symptoms (the Asymptpmatic) will be reluctant to get a test.
Maybe even some of those who have mild symptoms will think twice.
The Vic govt have already set the precedent where you can get away with refusing to have a covid test, so it will be difficult now to turn around and say its compulsory.
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Jul 22 2020, 10:41 AM


Group: Member
Posts: 2,644

QUOTE
silver benefit from industrial use and expectation off oversea's inflation. expecting better than gold performance . but need to be cautious if the expectation of inflation going down then silver might underperform the gold!!


Silver is far more volatile than gild, but overall has underperformed gold for the last couple of years.
if you look at the gold/silver ratio chart, you can see that for the five years from early 2010 when it was 40, the ratio has doubled to 80's late last year, then in the early part of this year shot up to a peak of 120.
It is now back to the 80's level.
So silver could go higher if it was to revert to the long term trend of the mid 30's to mid 40's.
However, this recent meteroric rise is merely an opportunity to take profits as far as I am concerned.
I could be wrong, but hell, the profits in trading have been huge these past 18 months.
Mick
  Forum: Macro Factors

mullokintyre
Posted on: Jul 22 2020, 10:14 AM


Group: Member
Posts: 2,644

Already gone thru 15, last trade at 15.75.
All of a sudden the sellers have gone, and there are 4 times as many buyers.
This could get really interesting.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Jul 22 2020, 09:33 AM


Group: Member
Posts: 2,644

What the hell is going on here?
Silver now sitting at $22.17!!!
Might have to take advantage of this craziness and offload some.
There will be a correction later on, when I can buy them back.
Mick
  Forum: Macro Factors

mullokintyre
Posted on: Jul 22 2020, 08:18 AM


Group: Member
Posts: 2,644

Think I would prefer the oldsmobile.
Or maybe a 70 Chevelle.
Mick
  Forum: Investment Discussion

mullokintyre
Posted on: Jul 21 2020, 10:22 PM


Group: Member
Posts: 2,644

Silver up by over a dollar to 20.95.
Not hanging around in that 20 dollar area to long.
US dollar tanking,
Just have to sit back and watch the action.
Have no idea where its all going.
Mick
  Forum: Macro Factors

mullokintyre
Posted on: Jul 21 2020, 07:18 PM


Group: Member
Posts: 2,644

The largest maker of small ICE motors, Briggs and Stratton has filed for Chapter 11 bankruptcy.
From Market Watch

QUOTE
To facilitate the sale process and address its debt obligations, the Company has filed petitions for a court-supervised voluntary reorganization under Chapter 11 of the U.S. Bankruptcy Code. The Company has also obtained $677.5 million in DIP financing, with $265 million committed by KPS and the remaining $412.5 from the Company's existing group of ABL lenders. Following court approval, the DIP facility will ensure that the Company has sufficient liquidity to continue normal operations and to meet its financial obligations during the Chapter 11 process, including the timely payment of employee wages and health benefits, continued servicing of customer orders and shipments, and other obligations.

This process will allow the Company to ensure the viability of its business while providing sufficient liquidity to fully support operations through the closing of the transaction. Briggs & Stratton believes this process will benefit its employees, customers, channel partners, and suppliers, and best positions the Company for long-term success. This filing does not include any of Briggs & Stratton's international subsidiaries. - Briggs & Stratton's press release states


Yikes, just after I broke the throttle linkage on the ride on mower.
Hope the spare parts are still available.

Mick
  Forum: Investment Discussion

mullokintyre
Posted on: Jul 21 2020, 03:50 PM


Group: Member
Posts: 2,644

Tasmanias decision to look at OZ companies to build replacements for the bass strait crossing ferries may be a boost for Austral.
From ABC NEWS
QUOTE
The State Government has ditched plans to build the replacement Spirit of Tasmania ships overseas, in favour of finding a local builder.

Key points:
The two Spirit of Tasmania ferries are due to be replaced by 2028
The Tasmanian Government had a memorandum of understanding with a Finnish company to build the new vessels, but has now pulled out of this agreement
A taskforce will spend three to six months looking into Australian building options
Premier Peter Gutwein today said the Government had pulled out of its memorandum of understanding (MoU) with Finnish company Rauma Marine Constructions (RMC) and would instead set up a taskforce to investigate options within Tasmania and Australia.

"On one hand we have a decision whereby we could see more than $850 million invested in a European country, supporting European jobs, providing what would without doubt be an excellent product," he said.

AB has recovered barely half the price drop that occurred after the COVID 19 induced Feb/Mar crash.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Jul 21 2020, 03:45 PM


Group: Member
Posts: 2,644

Ah, the bureacrats strike again.
from ABC NEWS
The NSW government has tightened the acess to the VIC /NSW border again.

QUOTE
There is anger and confusion among many residents and businesses along the New South Wales–Victorian border, with tighter border crossing restrictions coming in at midnight tonight.
Restrictions over who can get a permit to cross the NSW/Victorian border tighten from midnight
Residents that fall out of the designated border community zones say it's a 'disaster' for families and business
The Murray Downs Golf Club says it will close because Victorians can't use their facility
The stricter rules mean people within the boundaries of nominated border communities, or 'blue zones' — mapped out here, will only be able to cross the border for essential work, health and education reasons.

It will be much harder to get a permit to get across, and many that fall outside of the zones said they have been told they will not be able to get one at all.An administrative balls up has seen arbitrary decisions about who can cross the border.

If ever there was a reason for getting rid of the various state governments, this is it.
Blue zones, what crap. The virus doesn't know or care about borders, zones, and state boundaries.
John Barrilaro has further angers the constituents in his own and other electorates.

QUOTE
The Deputy Premier John Barilaro acknowledged the burden being placed on border communities and said his government was open to working through any concerns.

"Those border communities are going to be the frontline, those border communities are going to feel the brunt," he said.

"We're going to have to work with those communities in financial support for businesses.

Bullshit politician words, he will pay the price I hope.
Fat lot of good the egotistical loudmouth has turned out to be.
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Jul 21 2020, 01:47 PM


Group: Member
Posts: 2,644

Well, didn't take long to prove me wrong yet again. Broke thru the 12 barrier and sitting at 0.1325 .
Now a significantly larger number of buyers than sellers.
Silver sitting at 20.32.
Should be a good ride from here on in.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Jul 21 2020, 11:46 AM


Group: Member
Posts: 2,644

Yeah, Wi are a bit brittle. When I went to bed last night, WI were 4/133. They had 179 odd to win with six wickets in hand, two set batsmen at the crease.
Then they repeat the first innings collapse and lose 6/65.
That man Stokes played another outstanding game.
He is head and shoulders above any all rounder in World cricket today.
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Jul 21 2020, 10:30 AM


Group: Member
Posts: 2,644

Strange announcement put out by EDE this morning.
Seems that there have been rumours on Social Media that there was something fishy about the US sales deal.
EDE said it did due diligence, talked to people blah blah blah. before signing this deal.
HC has had a brawl for a few days over EDE's sales Notice, but it is very hard to follow unless you are a member of the "in crowd".
Not sorry I sold those pre notice shares.
Still have a chunk , but becoming more aorried about the future of the ones I have left.
Suspect that EDE has some real financial difficulties, and someone is going to end up with its assets at a very cheap price.

Mick
.
  Forum: By Share Code

mullokintyre
Posted on: Jul 20 2020, 11:42 PM


Group: Member
Posts: 2,644

The problem is EB, unless we completely e of the borders to everyone and everything, the damn virus can still rear its ugly head.
There are still freight planes coming in with crews, there are cargo ships going in and out, and we are still repatriating people from other countries.
Can't see how we can ever eliminate it, unless it behaves like those other corona viruses.
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Jul 20 2020, 09:14 PM


Group: Member
Posts: 2,644

Back in 2002, when SARS, a close relative of the Current Corona Virus, was first detected, it fairly quickly petered out in China where it was first detected.
Then in 2003, another outbreak took off in Hanoi, and the WHO became more interested. The disease quickly spread until it was pretty much in every country, though most cases were in Asia.
The morbidity rate of SARS was higher than COVID, but it was deemed to be less infectious.
The MERS outbreak, another corona virus, was detected in 2012, was even more deadly, with around 35% of all reported cases resulting in death, although it seems to be less infection than either SARS or COVID 19.
There have been multiple outbreaks of MERS, but seems mostly confined to the Middle East, mainly Saudi Arabia.
Despite millions being spent, In neither of the SARS or MERS instances was an effective vaccine developed.
Fortunately for humans, but both seemed to just disappear over time.
Given that the no reliable Vaccine was found to combat either of these two Viri, what are the chances that no effective vaccine for the COVID 19 virus is found?
And for that matter, what are the chances of this virus joining its close relatives and just disappearing?
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Jul 20 2020, 11:21 AM


Group: Member
Posts: 2,644


A duck walks into a pub and orders a pint of beer and a ham sandwich.

The bartender looks at him and says, "Hang on! You're a duck."

"I see your eyes are working," replies the duck.

"And you can talk!" exclaims the bartender.

"I see your ears are working, too," says the duck. "Now if you don't mind, can I have my beer and my sandwich please?"

"Certainly, sorry about that" says the bartender as he pours the duck a pint. "It's just we don't get many ducks in this pub. What are you doing around this way?"

"I'm working on the building site across the road," explains the duck. "I'm a plasterer."

The flabbergasted bartender cannot believe the duck and wants to learn more, but takes the hint when the duck pulls out a newspaper from his bag and proceeds to read it.

So, the duck reads his paper, drinks his beer, eats his sandwich, bids the barman good day and leaves.

The same thing happens for two weeks.

Then one day the circus comes to town.

The ringmaster comes into the pub for a pint and the bartender says to him:

"You're with the circus, aren't you? Well, I know this duck that could be just brilliant in your circus. He talks, drinks beer, eats sandwiches, reads the newspaper and everything!"

"Sounds marvelous," says the ringmaster, handing over his business card. "Get him to give me a call."

So the next day when the duck comes into the pub the bartender says, "Hey Mr. Duck, I reckon I can line you up with a top job, paying really good money."

"I'm always looking for the next job," says the duck. "Where is it?"

"At the circus," says the bartender.

"The circus?" repeats the duck.

"That's right," replies the bartender.

"The circus?" the duck asks again. "With the big TENT?"

"Yeah!" the bartender replies.

"With all the animals who live in CAGES, and performers who live in CARAVANS?" says the duck.

"Of course," the bartender replies.

"And the tent has CANVAS sides and a big canvas roof with a hole in the middle?" persists the duck.

"That's right!" says the bartender.

The duck shakes his head in amazement, and says: "What the hell would they want with a plasterer???"
  Forum: Off Topic Chat

mullokintyre
Posted on: Jul 19 2020, 01:43 PM


Group: Member
Posts: 2,644

The world is littered with people, organisations and governments making predictions about the future.
The vast majority oae wrong by massive margins.
Have a look at the number of entities and individuals who predicted it would blow over quickly. Wrong.
Have a look at all the entities who suggested that 500,000 would die in the UK. Wrong.
Have a look at the US CDC worst case scenario, 1.7 million deaths. wrong
Have a look at the Treasury forecasts for Australia's economy any time over the last 10 years. Hopelessly wrong.
Have a look at the ATO foreceasts for how many individuals would need Job Keeper/Seeker? Hopelessly overstated.
Have a look at the BOMS forecast for the autumn winter period that they put out in December last year that there would be no rain in Vic till late April? So far off the mark it was laughable.
I could go on, but ya get the gist.
If you make a prediction and it comes true, its is most likely luck.
Mick


  Forum: Investment Discussion

mullokintyre
Posted on: Jul 19 2020, 01:23 PM


Group: Member
Posts: 2,644

One of the issues that seems to be glossed over is the number of cases where its unknown how the victim got the virus.
What are the likely causes.
1. The victims came in contact with a carrier who is unidentified as yet. The carrier may not even know they have it.
2. The victims are less than truthful about their movements. This was the case in the Cedar meats cluster in Victoria.
If its no 1, then more cases will arise.
More likely to be no 2.
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Jul 19 2020, 09:40 AM


Group: Member
Posts: 2,644

From Catallaxy

QUOTE
Kevin Rudd. What can be said that has not already been said. Mr Rudd has got to be the most intelligent, wise and insightful Prime Minister Australia has ever had. It must be so because he continues to tell us.

While Mr Rudd sometimes has some interesting things to say about foreign affairs and China, once he strays outside this lane he, like most politicians, is usually wrong but never in doubt.

Writing recently in defence of superannuation, Mr Rudd had the following things to say:

Withdrawing $20,000 might not seem like a big deal to a 35-year-old today, but that investment would have been worth between $130,000 and $260,000 in retirement, according to Deloitte Access Economics.

Well this is how compounding works Mr Rudd. For $20,000 to be invested today to return $130,000 and $260,000 in 30 years (assuming this 35 year old retires at at 65), that requires an average compound investment return of 6% to 9% every single year. And that is after costs and tax. That’s a very impressive investment performance given, by comparison, term deposits today are paying all of 1%. If you are lucky.

This return is also nominal, as in before inflation. So assuming an annual 2% rate of inflation over these 30 year (rather wishful given the money printing going on), that 6% to 9% would need to be 8%-11% per annum before fees and tax to maintain purchasing power.

If this is the analysis prepared by Deloitte Access Economics, they need to leave the island. But that this analysis has not been questioned by our diligent media speaks for itself.

But this point from Mr Rudd is the essence. It is the truth that is spoken without realising it:

Our super system has become the envy of finance ministers, treasurers and the financial world.

Hell yes it is. It provides a giant money pot for finance ministers and treasurers and the financial world to constantly raid and clip.

Is our “super” system the envy of citizens and retirees around the world? That is the more relevant question. One might suggest that it is not.

It seems that many of the defenders and promoters of this super system are not actually customers of this system. Let’s remember that Mr Rudd and Mr Keating are not part of this “super” super system. Their superannuation is generously underwritten by tax payers by way of a CPI indexed defined benefit scheme. A scheme that was so underfunded that the Future Fund needed to be set up – at a HUGE costs to citizens.

Mr Rudd and his superannuation defenders seem to believe that the onus is on those opposed to the compulsion of superannuation to make their case. No it’s not.

In the end, every single government policy is backed up by agents of the state carrying guns. Every single policy. And because of this, the onus is on the government to make its case for a policy and not on those who disagree to make the case against.

Rather than writing on matters he has no real understanding of, perhaps Mr Rudd hop on a private jet and return back to his home in New York and resume his work on foreign policy.


Although he picks on K Rudd, as the medium for his derision, he could have picked any number of people pushing the "Sanctity of Super." barrow.
And as for the figures put out by Access, talk about ambitious!.
But then I presume they were commissoned by an entity that benefits from continued expansion of the super money pit.

Mick
  Forum: Investment Discussion

mullokintyre
Posted on: Jul 18 2020, 06:18 PM


Group: Member
Posts: 2,644

Mate in the Police Force says they are being told to plan for stage 4 restrictions next week.
Not sure if it iis statewide, or just Melbourne and Mitchell shire.
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Jul 17 2020, 10:35 PM


Group: Member
Posts: 2,644

Another surprising scientific phenomenon thats has scientists scratching their heads.

From The Mind Unleashed

QUOTE
As much as astronomy has revealed to us about the universe, there is still much we don’t know and anomalous discoveries routinely remind scientists of this. The newest discovery could be a totally brand-new type of astronomical object that is fascinating and a bit spooky.Astronomers have discovered four rings, called “odd radio circles,” or ORCs, that so far have defied explanation or description. We don’t know how big the objects are, how far away they are, or how they formed-all we know is that they are only visible at radio wavelengths, where they are very bright at the edges. The ORCs are totally invisible when viewed with the visible, infrared, and X-ray wavelengths of the electromagnetic spectrum.

The paper describing this phenomenon, which was submitted for publication to the journal Nature Astronomy, offers explanations for ORCs but also methodically rules them out. So far, supernovas, star-forming galaxies, planetary nebulas, and gravitational lensing have all been excluded as possible explanations.Two of the ORCs appear to contain central galaxies that can be seen at visible wavelengths; scientists speculate those rings could be connected to some kind of local galactic phenomena. The other two ORCs share close physical proximity and so could be interconnected in some way.

Astronomer Kristine Spekkens at the Royal Military College of Canada and Queen’s University says,

“[The objects] may well point to a new phenomenon that we haven’t really probed yet. It may also be that these are an extension of a previously known class of objects that we haven’t been able to explore.”


Pure science is so much more interesting than politics.
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Jul 17 2020, 09:44 PM


Group: Member
Posts: 2,644

David brady, writing in Sprott Money has a very different take on gold.
He is very bearish on all markets.

QUOTE
Market fundamentals continue to pile up on the negative side. ECB sits on its hands—i.e., does nothing new—and the Fed slashes liquidity, all while commercial real estate loan losses mount, retail mortgage delinquencies soar at a record pace, and the $600/week for numerous Americans ends in two weeks. Throw in an escalating trade and geopolitical war between the U.S. and China and it’s not rocket science to see where this is heading.

However, this does not mean that the converse of being bullish on gold and other PM's.

QUOTE
My expectation is that when stocks fall, precious metals and miners will too, much like they did in March. Falling bond yields are unlikely to stem their decline because inflation expectations will probably drop even faster, causing real yields to rise. That said, I must emphasize again that this will be the last and best opportunity to buy Gold, Silver, and the miners given the helicopter drop and Fed printing to follow soon after, imho. Said differently, when stocks soar ahead of the November election, so do precious metals and miners—and then some.

Switching to Gold, specifically, as the biggest market in the precious metals space… I don’t rule out a test of the 2011 record high before we head down, but as I’ve said, I sincerely doubt we break it on the first attempt, and even if we do, it is likely to be a false breakout.

Multiple negative divergences across all timeframes continue to pile up, and it’s not a question of “if” but “when” they finally weigh on Gold, just as they did in March.


This seems a reasonable proposition, particularly as he says the precedent was set back in March.
It is food for thought, I may end up returning to mostly cash over the short term.

Mick
  Forum: Macro Factors

mullokintyre
Posted on: Jul 17 2020, 07:17 PM


Group: Member
Posts: 2,644

Now heres a company who knows how to make money in a crisis.
Boy in a bubble
The personal purifier pack is what we all need.
Not sure how it would go while driving or a travelling in a plane.
maybe ok on a train, but not in a bus, unless you bought two seats.
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Jul 17 2020, 02:26 PM


Group: Member
Posts: 2,644

So, despite the big announcement the other day that sent the share price soaring above the SPP, the co still extended the deadline for the third time till next wednesday.
The SPP has come back from those lofty heights of a few days, and is struggling once again to hold above the SPP.
One would have to assume there has been a less than enthusiastic takeup of the offer.
They were only after 5mill, so its a bit worrying that they are still struggling to fill it.
Perhaps the punters are a little wary of over promising and under delivering?
Its also worrying that they are so desperate to fill it and get the 5mil. Must be a bit short of cash.
Mick

  Forum: By Share Code

mullokintyre
Posted on: Jul 17 2020, 02:14 PM


Group: Member
Posts: 2,644

OOPS just read my last post and noted that I typed 420 as the next leg for silver when I meant to type 20.
Its the keyboard, nothing wrong with my fingers.
SVL has attempted and failed to break thru the 12 cent handle three times this week, which to reinforces the change from being a trading stock to a hold and wait,
At least until that backlog between 12 and 13.5 is cleaned out.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Jul 17 2020, 09:08 AM


Group: Member
Posts: 2,644

Is high frequency trading killing Bitcoin??
From Cointelegraph


QUOTE
The Bitcoin (BTC) market has been quiet lately. A little too quiet.

As of Tuesday Bitcoin’s volatility levels had dropped to levels unseen since 2017. In recent weeks, Bitcoin has fallen behind as investors piled into altcoins such as Chainlink (LINK) and Cardano (ADA) .

One possible explanation for Bitcoin’s consolidation may be an increased presence of high-frequency trading (HFT) firms in crypto in recent months. Speaking to Cointelegraph, Paolo Ardoino, CTO of Bitfinex explained that he believes HFT is a major reason behind Bitcoin’s low volatility. In crypto, we are back to the old days of HFT before it became the zero-sum game that it has become today. In crypto HFT firms can make a lot of money deploying relatively straightforward plays, such as cross-exchange arbitrage and exploiting the spread between one exchange and another.”

HFT is a trading method that uses algorithms to transact a large number of orders in fractions of a second. It has existed in the cryptocurrency space for a long time. But just as billionaire Paul Tudor Jones revealed his Bitcoin holdings recently, other institutional investors are increasingly joining the market. This may explain the greater use of HFT.

Bitfinex, which claims to be “huge for HFT in crypto”, recently revealed that between 80 percent and 90 percent of volume on Bitfinex was now generated by HFT firms. Bitfinex partnered with Market Synergy and has been offering “institutional standard cryptocurrency connectivity.” Bitfinex concludes the growing use of HFT represents increasing “maturity in the digital asset space”. But why would Bitcoin volatility go down with increased use of HFT? Ardoino explains the increased liquidity due to the surge of HFT tradings leads to low volatility:

“As Bitcoin becomes an established asset class, we anticipate the high levels of volatility associated with cryptocurrency to recede,” he explained. “There is generally an inverse correlation between liquidity and volatility; i.e., higher liquidity tends to lead to lower price volatility.”


Mick
  Forum: Investment Discussion

mullokintyre
Posted on: Jul 17 2020, 08:18 AM


Group: Member
Posts: 2,644

The law of uninted consequences strikes again.
From ABC NEWS
QUOTE
Householders with rooftop solar panels and batteries have reacted with fury to proposals which could see them charged for exporting power to the electricity grid.

Key points:
State Governments have historically rewarded people for buying solar
Some state electricity grids are coming close to reaching their limit for rooftop solar
Solar owners are furious with the idea, arguing they will not recoup their investment
Over the past decade, state governments have actively incentivised households to feed their solar into the grid, by offering generous feed-in tariff schemes. Most have now closed to new entrants.

But now, welfare groups and transmission company SA Power Networks have asked the Australian Energy Markets Commission to change market rules to impose a charge on household exporters.

They argue that under the current system, households without solar could be unfairly burdened with the cost of augmenting power networks to cope with the increase of new panels, which is already placing a strain on the network in states with heavy solar penetration like South Australia.

SA Power Networks spokesman Paul Roberts said the state's grid is already reaching its capacity to support household solar networks.

"Actual customers themselves are seeing that their inverters are turning off at times because of voltage rising in the network," Mr Roberts told ABC Radio Adelaide."And the renewables industry is getting concerned that networks like ours will have to impose zero limits on new customers so that we can accept those customers, but they won't be able to export.

Mr Roberts said SAPN's proposal would likely see $10-$30 added to the annual electricity bill of a solar customer, and would not change the overall amount of money that the company was allowed to charge customers.

He said the current proposal would see existing solar customers excluded from paying, but conceded that could change.SA Council of Social Service Chief Executive Ross Womersley said without change, households who cannot afford solar could be unfairly penalised for the cost of maintaining electricity supply.SA Power Networks spokesman Paul Roberts likened the charge to proposals to taxing electric vehicles, which are not contributing to petrol excise.

"Governments are really thinking about how are we going to get people who buy electric vehicles to contribute to road funding," he said.

"And in the same way, I think we should be thinking about that for solar customers."

The Grattan Institute's Director of Energy Tony Wood said the problem should have been fixed years ago.

"We should have got this right in the first place," he said.

"It does seem fair that you should pay for the use of that grid, otherwise the people who are not using solar are effectively subsidising your solar system.

"They're not doing it deliberately.

"These people who have got solar are not looking for a free ride, but it's just a reflection of the history of this thing."




And from a little earlier ABC NEWS

QUOTE
Electricity grid operators will seize the power to remotely switch off new solar panels in South Australia amid warnings the state's solar boom is putting the grid at risk of another statewide blackout.

Key points:
Solar's popularity has put SA at risk of another statewide blackout, the Government says
Grid operators will be granted the power to switch off new household solar when needed
About 35 per cent of SA households have solar installed
The State Government will also underwrite an urgent $10 million investment to manage voltage in the state's power grid, after the Australian Energy Market Operator (AEMO) warned that a voltage disturbance near Adelaide could see up to half South Australia's photovoltaic cells simultaneously switch off.

A similar mass switch-off event involving wind farms during a storm was identified as a root cause of the 2016 statewide blackout.

The Australian Energy Regulator (AER) is taking legal action against the owners of those wind farms for allegedly failing to notify regulators of the possibility that could happen."So there needs to be a solution to that."


Perhaps if Governments and local councils had listened to a few power or network engineers rather than ecologists and climate scientists these problems would have been addressed bBEFORE the massive installations of PV cells.
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Jul 16 2020, 05:16 PM


Group: Member
Posts: 2,644

Far too many foody puns on this thread.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Jul 16 2020, 12:55 PM


Group: Member
Posts: 2,644

looks like all the fun of trading SVL is fading, at least for the short term.
There are 15 million buyers between 10 and 11.5, and about the same amount of sellers between 12 and 14.
Well below average volumes today, adn have been for a few days now.
Well, it was great while it lasted.
Need a big break of 420 + for silver to get the next leg up.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Jul 16 2020, 10:28 AM


Group: Member
Posts: 2,644

Good luck, looks like its on a roll.
I guess I sold out too early!.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Jul 15 2020, 10:28 PM


Group: Member
Posts: 2,644

AUD pinged through the 70 handle.
Now in territory not seen since December 2019.
Have no idea how high it will go, but there is no doubt that the USD is on the nose everywhere.
Mick
  Forum: Macro Factors

mullokintyre
Posted on: Jul 15 2020, 04:12 PM


Group: Member
Posts: 2,644

The latest in a series of incidents where Teslas on Autopilot crash into things.
And this is the second incident where the inanimate thing happened to be a Police vehicle.
from Zero Hedge

QUOTE
A Tesla on Autopilot smashed into the back of a patrol vehicle on the side of the road near Benson, Arizona today, according to Arizona's Department of Public Safety Twitter feed.

"Today, a Tesla rear-ended a patrol vehicle at the scene of an earlier crash on I-10 EB near Benson. Luckily, our sergeant wasn’t in the vehicle & wasn't hurt," the tweet says.

In addition to being on Autopilot, the driver of the vehicle is being investigated for DUI, according to the Arizona DPS.

"We can confirm the driver indicated to troopers the Tesla was on autopilot at the time of the collision. Additionally, the driver, a 23-year-old male from Irvine, CA, is being investigated for DUI. He remains in the hospital with serious but non-life-threatening injuries," they commented on Twitter.

Recall, it was just about a month ago that we reported about a Tesla traveling on a highway in Taiwan, at what appeared to be full speed, before slamming directly into an overturned truck that was laying across the highway. The Tesla appeared to make little or no change in direction before hitting the truck. At one point, smoke can be seen coming out of the back tires of the vehicle, indicating that the Tesla may have tried to brake - but to no avail.

Days before that incident, we reported on a Tesla that was found to have driven off a cliff under "mysterious" circumstances in Santa Clara County, California.
According to the California Highway Patrol, the Tesla "went over" the cliff, and the driver, 60-year-old Pleasanton resident James Yacorzynski, was found dead at the scene.
Finally, two weeks ago, we reported that Tesla's Autopilot was to blame for a similar near-fatal accident that took place last December. A Massachusetts State Police trooper had just pulled over a vehicle on the side of Route 24 in West Bridgewater when the trooper's vehicle was slammed into by the Tesla. A man "driving" the Tesla had slammed into the State Police cruiser that, in turn, wound up slamming into the stopped SUV. Nicholas Ciarlone, the driver is now facing a negligent driving charge, according to NBC 10.

The car was "finally stopped several hundred feet ahead" by another state trooper.

Court documents shows that when a trooper responded to the scene to help, Ciarlone said that he "must not have been paying attention." Recall, at the time of the accident, we reported that the driver said that he had put the car in Autopilot because he was checking on his dog in the back seat.

Smith said: "I thought that was terrifying. To think the sensors are not equipped enough to pick up a police car with its sirens and lights on the highway."


Perhaps it says more about the intellectual capacity of the driver/owners of Teslas than of the vehicle itself.
Mick
  Forum: Investment Discussion

mullokintyre
Posted on: Jul 15 2020, 04:03 PM


Group: Member
Posts: 2,644

From Zero Hedge

QUOTE
With all eyes on Trump's Tuesday evening Rose Garden speech which unveiled that he'll sign new and punitive measures indirectly targeting China — namely the Hong Kong Autonomy Act, a bipartisan measure to penalize banks that work with Chinese officials found to be interfering in Hong Kong affairs — it remains that arguably the most important recent statements out of China came not from current government officials, but from Zhou Li, the 65-year-old former deputy head of the Chinese Communist Party's International Liaison Department. He's considered an important voice who echoes the outside the box thinking and general "talk" of the communist party's diplomatic establishment.

Amid the soaring US-China tension which could give way to a military stand-off in the South China Sea, given the presence and military exercises of two US supercarriers there, Zhou Li earlier this month issued what many see as the more radical 'extreme thinking' out of the communist party: an eventual decoupling of the Chinese yuan from the US dollar.

This would be a "full-blown escalation" with no off ramp scenario. But given the tit-for-tat with Washington is likely to lead precisely to further extreme responses on both sides, Zhou's position could in the end be the final weapon Beijing ultimately and no doubt reluctantly pulls out of its arsenal. Now is the time for Beijing to begin insulating itself from “dollar hegemony and gradually achieve the decoupling of the renminbi from the US currency,” Zhou argued. “The US dollar could become a major risk issue that ‘has us by the throat’.”He penned an article widely reported on in regional media which "predicts industrial supply chains being torn up, a China-U.S. decoupling and a world split into dollar and yuan economic blocs." This would take China, contrary to President Xi's ambitious plans for his country as an expanding global economic power, into a 'forced' unprecedented level of isolation.

“By taking advantage of the dollar’s global monopoly position in the financial sector, the US will pose an increasingly severe threat to China’s further development,” Zhou wrote in the article originally published by the Beijing-based think tank Chongyang Institute for Financial Studies at Renmin University.

Framing what's at issue behind the former high ranking diplomat's rationale, The South China Morning Post summarized:

The US had been able to leverage the dollar-dominated SWIFT international payments messaging system to extend “long-arm jurisdiction” for its policies outside America, including sanctioning Russia and Iran, Zhou noted. Sanctions against energy suppliers could jeopardise China’s energy security, he warned.

And further: "China must accelerate the internationalization of the yuan, speed up the increase in cross-border payments and clearing arrangements for the yuan, establish local currency settlement mechanisms with more countries, and create conditions to maximise the use of the Chinese currency in global industrial supply chains, Zhou said."

Broadly, in this most dire scenario spelled out by Zhou, decoupling would only be possible should a ripple effect of 'walling off' in other Chinese sectors also be aggressively pursued and in progress.
"Beijing should seize the opportunity to build China-centric regional industrial chains, given the continued devastation to overseas demand and the disruption of global supply chains caused by the coronavirus," SCMP wrote of his words. "In addition, Zhou warned, China should brace for a worldwide food crisis and the return of international terrorism during the pandemic," the report also noted.

* * *

In a brief outline presented separately by Nikkei, Zhou's position is that the Chinese must prepare:

1. For the deterioration of Sino-U.S. relations and the full escalation of the struggle.

2. To cope with shrinking external demand and a disruption of supply chains.

3. For a new normal of coexisting with the novel coronavirus pandemic over the long term.

4. To leave the dollar hegemony and gradually realize the decoupling of the yuan from the dollar.

5. For the outbreak of a global food crisis.

6. For a resurgence of international terrorism.

Again, such a grim position forecasting isolation is nowhere near the official Chinese Communist Party line, but represents a predicted necessary future reaction to full-blown long lasting conflict with the US.


Maybe its the plan along by the US, make the Chinese open up and turn their currency into something global that can be manipulated by screen jockeys.
Who knows, but there is a bit of pain to come yet.
Mick
  Forum: Investment Discussion

mullokintyre
Posted on: Jul 15 2020, 01:21 PM


Group: Member
Posts: 2,644

Not sure I could agree with it closing at the high.
I suspect more than a few punters who participated in the raising will not take the stag profit.
Prior to the announcement, if you had already had a holding, selling the addition via the SPP would be a tempting offer. Too tempting for me at least.
I am a little surprised that EDE did not wait till after the release of the announcement about the deal that caused this meteoric rise.
They could have got a greater amount of cash for the same issue.
I have no doubt they knew of this impending deal.
Mick

  Forum: By Share Code

mullokintyre
Posted on: Jul 15 2020, 10:59 AM


Group: Member
Posts: 2,644

Yeah, i sold them at 39.
50 % in a two week period is too good a profit to let go.
Helps to ease the pain of some of my less successful forays such as PRX and DCN.
Still have a holding that is out of the money , but hopefully that will be improved over the long term.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Jul 15 2020, 10:08 AM


Group: Member
Posts: 2,644

Riches may yet wait us BG, up 48% on the open.!
Mick
  Forum: By Share Code

mullokintyre
Posted on: Jul 15 2020, 10:07 AM


Group: Member
Posts: 2,644

Alk quarterly came out, figures right in the middle of the forecasts from previous quarter.
Most interesting bit is the reallignment of the gold price with cut off values.
Production will be greater next quarter due to planned mining to now include lower grades.
AISC up as a result, but overall profit should increase.
Should know by next quarter whether the next two lodes to be mined get approval from NSW govt.
if succeeding in that, the board has already indicated they will go ahead with these extra mining areas. Good for some more jobs in the Cobar area, Good for ALk share price, and of course, good for me!
price up marginally this morning.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Jul 14 2020, 08:13 PM


Group: Member
Posts: 2,644

For a minute there I thought i was in the TV Cooking Show Thread.
Had a small bid filled at 26 on the open.
Am fairly sure that over the next few years, there will be capital raisings where I can increase my stake.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Jul 14 2020, 09:10 AM


Group: Member
Posts: 2,644

Tesla also makes Tulips.
Mick
  Forum: Investment Discussion

mullokintyre
Posted on: Jul 13 2020, 04:23 PM


Group: Member
Posts: 2,644

Silver back above 19.
The COTS just can't keep it down.
Keeps making higher highs and higher lows.
SVL and ARG both up big time.
Mick
  Forum: Macro Factors

mullokintyre
Posted on: Jul 13 2020, 12:48 PM


Group: Member
Posts: 2,644

From Bloombergs


QUOTE
Faced with the prospect of restricted access to U.S. dollars, China’s answer is to get more people to use its own currency instead.The increasing spillover of Sino-American tensions into the financial sphere has ignited a fresh push by China to promote the global use of the yuan. A growing number of government officials and influential market watchers have in recent weeks urged greater efforts on the endeavor, which gained renewed significance after China’s new Hong Kong security law triggered the threat of retaliation from Washington.

While such drastic action is far from being implemented by the U.S. -- and could potentially do major damage to American interests and the entire global financial system -- the risks alone have raised alarm bells. With almost a trillion dollars in offshore bonds and loans and $1.1 trillion in state-owned bank liabilities, access to the greenback is vital for Chinese companies and lenders.“Yuan internationalization morphed from a desirable to an indispensable thing for Beijing,” said Ding Shuang, chief economist for greater China and north Asia at Standard Chartered Plc. “China needs to find a replacement for the dollar amid the political uncertainty, otherwise the nation will see financial risks.”

Similar calls for moving away from the dollar followed the 2007-09 financial crisis. While China over the years made some progress -- promoting offshore yuan trading, winning official reserve-currency status from the International Monetary Fund and launching commodity contracts priced in yuan -- the renminbi is a small player on the global stage.

The yuan’s share in global payments and central bank reserves remains low, at about 2%. And while a steady opening of China’s financial markets to overseas investors has lured inflows, foreign ownership of mainland stocks and bonds is relatively minor.

Among the recent voices expressing urgency in China:Fang Xinghai, a top official at China’s securities regulator, said last month “our ability to defend against potential decoupling will be enhanced significantly” through yuan internationalization.
Huang Yiping, a former adviser to the central bank, said it’s necessary for the country to reduce its reliance on the greenback.
Zhou Li, an ex-deputy director of a government body that manages relations with foreign parties, decried China’s vulnerability to “dollar hegemony,” and said the greenback is a major risk that “has us by the throat.”
Zhou Yongkun, an official at the People’s Bank of China, said last week that the country will introduce direct trading between the yuan and additional currencies, without specifying which ones.

To accelerate reaching a par with counterparts such as the yen or euro, China would need to pull down its capital controls, which were tightened in the wake of a messy devaluation in 2015. But that would raise the risk of destabilizing outflows. China could alternatively expand imports and run persistent current-account deficits -- as the U.S. does -- to generate a pool of yuan balances overseas. That, too, would require a hard-to-envision policy shift.


That last section is the key. There would be dangers in the stability of the China financial system if it were to ease the capital controls it has.
Given it is a central command and control regime, letting go of those controls is not in their playbook.
The other issue is whether other countries would trust china not to reimplement capital controls should it suit them.
There are question marks over whether the trump administration will carry through with their threat to isolate China from USD accesss, the repercussions would be extreme not just for the US, but for worldwide finances.
But then, the Donals has shown he can be a bit of a maverick, so we can't write it off completely.
Mick
  Forum: Investment Discussion

mullokintyre
Posted on: Jul 13 2020, 10:13 AM


Group: Member
Posts: 2,644

DCN hit a low today after another downgrade.
Lots of people were hoping the new Boss Leigh Junk (what a moniker!) could turn things around. But they go from bad to worse.
This is now in Dog status.
Coslty investment for me and glad I took my losses and ran away.
Mick
  Forum: By Share Code

Poll: The Banks
mullokintyre
Posted on: Jul 11 2020, 01:24 PM


Group: Member
Posts: 2,644

I have not had any of the Banks in portfolio for the past 18 Months.
And I am unlikely to add any for the next 18 months.
At least one of them will die.
Mick
  Forum: Investment Discussion

mullokintyre
Posted on: Jul 11 2020, 12:32 PM


Group: Member
Posts: 2,644

Australia's first COVID-19 treatment option, Remdesivir, has been approved by the Therapeutic Goods Administration (TGA) for people hospitalised with severe cases.
From Medical Express
QUOTE
The news about remdesivir, the investigational anti-viral drug that has shown early promise in the fight against COVID-19, keeps getting better.
This week researchers at Vanderbilt University Medical Center (VUMC), the University of North Carolina at Chapel Hill and Gilead Sciences reported that remdesivir potently inhibited SARS-CoV-2, the virus which causes COVID-19, in human lung cell cultures and that it improved lung function in mice infected with the virus.

These preclinical findings help explain the clinical effect the drug has had in treating COVID-19 patients. Remdesivir has been given to patients hospitalized with COVID-19 on a compassionate use basis since late January and through clinical trials since February.

In April, a preliminary report from the multicenter Adaptive COVID-19 Treatment Trial (which included VUMC) suggested that patients who received the drug recovered more quickly.

"All of the results with remdesivir have been very encouraging, even more so than we would have hoped, but it is still investigational, so it was important to directly demonstrate its activity against SARS-CoV-2 in the lab and in an animal model of disease," said VUMC's Andrea Pruijssers, Ph.D.


This of course compares favourble with the odium piled onto Hydroxychloroquine.
HCQ's biggest problem was not one of medical efficacy, but the fact that it is out of patent, cheap , and won't make much money for big pharma.
From Global research

QUOTE
There is an ongoing battle to suppress Hydroxychloroquine (HCQ), a cheap and effective drug for the treatment of Covid-19. The campaign against HCQ is carried out through slanderous political statements, media smears, not to mention an authoritative peer reviewed “evaluation” published on May 22nd by The Lancet, which was based on fake figures and test trials.

The study was allegedly based on data analysis of 96,032 patients hospitalized with COVID-19 between Dec 20, 2019, and April 14, 2020 from 671 hospitals Worldwide. The database had been fabricated. The objective was to kill the Hydroxychloroquine (HCQ) cure on behalf of Big Pharma.

While The Lancet article was retracted, the media casually blamed “a tiny US based company” named Surgisphere whose employees included “a sci-fi writer and an adult content model” for spreading “flawed data” (Guardian). This Chicago based outfit was accused of having misled both the WHO and national governments, inciting them to ban HCQ. None of those trial tests actually took place.
While the blame was placed on Surgisphere, the unspoken truth (which neither the scientific community nor the media have acknowledged) is that the study was coordinated by Harvard professor Mandeep Mehra under the auspices of Brigham and Women’s Hospital (BWH) which is a partner of the Harvard Medical School.

When the scam was revealed, Dr. Mandeep Mehra who holds the Harvey Distinguished Chair of Medicine at Brigham and Women’s Hospital apologized:
But that “truly sorry” note was just the tip of the iceberg. Why?

Studies on Gilead Science’s Remdesivir and Hydroxychloroquine (HCQ) Were Conducted Simultaneously by Brigham and Women’s Hospital (BWH)

While The Lancet report (May 22, 2020) coordinated by Dr. Mandeep Mehra was intended “to kill” the legitimacy of HCQ as a cure of Covid-19, another important (related) study was being carried out (concurrently) at BWH pertaining to Remdesivir on behalf of Gilead Sciences Inc. Dr. Francisco Marty, a specialist in Infectious Disease and Associate Professor at Harvard Medical School was entrusted with coordination of the clinical trial tests of the antiviral medication Remdesivir under Brigham’s contract with Gilead Sciences Inc:Brigham and Women’s Hospital began enrolling patients in two clinical trials for Gilead’s antiviral medication remdesivir. The Brigham is one of multiple clinical trial sites for a Gilead-initiated study of the drug in 600 participants with moderate coronavirus disease (COVID-19) and a Gilead-initiated study of 400 participants with severe COVID-19.

… If the results are promising, this could lead to FDA approval, and if they aren’t, it gives us critical information in the fight against COVID-19 and allows us to move on to other therapies.”

While Dr. Mandeep Mehra was not directly involved in the Gilead Remdesevir BWH study under the supervision of his colleague Dr. Francisco Marty, he nonetheless had contacts with Gilead Sciences Inc: “He participated in a conference sponsored by Gilead in early April 2020 as part of the Covid-19 debate” (France Soir, May 23, 2020)

What was the intent of his (failed) study? To undermine the legitimacy of Hydroxychloroquine?

According to France Soir, in a report published after The Lancet Retraction:

The often evasive answers produced by Dr Mandeep R. Mehra, … professor at Harvard Medical School, did not produce confidence, fueling doubt instead about the integrity of this retrospective study and its results. (France Soir, June 5, 2020)

Was Dr. Mandeep Mehra in conflict of interest? (That is a matter for BWH and the Harvard Medical School to decide upon).


The article is too long for me to reproduce it all, but it goes on to highlight the incestuous relationships between Gilead and the main players, as well as the fact that some medical scientists have cast doubts on the "compassionate use of Remdesivir", which is a way of bypassing the FDA approvakl process.
I love a good conspiracy theory, and although it all may be perfectly innocent and merely a series of fortuitous coincidences, there is something smelly here.
The thing that really annoys me is how shallow the main stream reporting has come to be. How come no one in the MSM has even bothered to delve deeper than look at the press releases given out by the main players?
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Jul 10 2020, 03:02 PM


Group: Member
Posts: 2,644

Looks like those who want the ASM shares have bought their parcels of ALK.
After a hefty runup after the announcement, has flatlined then started to reverse trend.
Down to 1.20 from highs of 1.33.
I sold some at 1.30, hope it goes down to 1.10 or lower so I can replace them at a discount.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Jul 10 2020, 02:56 PM


Group: Member
Posts: 2,644

EDE announced an extension to SPP.
Not a good sign, looks like not as many people took up the offer.
I didn't myself, as I was able to buy some on market at 0.027.
Yes its only 1/10 cent cheaper, but if you buy a few hundred thousand it can make a difference.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Jul 10 2020, 02:51 PM


Group: Member
Posts: 2,644

Excellent work.
I just did a rough guess based on some of the jobs that they announced, it seemed like they were using a lot less Edencrete in the US.
It may be only for those traffic areas where high compression can be expected. Dunno.
Hope your calcs are right, there night be some money to be made yet.
Thanks Bg.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Jul 10 2020, 12:47 PM


Group: Member
Posts: 2,644

Got my Drone, took a little more effort than I thought.
Flies well, extremely stable, returns to base very well, camera not so great, and successfully dropped a line into the GMW channel down the road a bit.
Now to find somewhere to go at the Ocean to test it out for real.
And PGM is still climbing.
About to hit .05 from that 0.01 low back in Jan, so there is still lots of buying pressure.
Must be something up.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Jul 9 2020, 11:15 PM


Group: Member
Posts: 2,644

Well, the cricket has started!
Wi in the UK, and already England 5 down.
Seems the WI fast bowlers are rediscovering their Mojo.
Always thought Holder was a damn fine player.
Thrust into the captaincy at 24, has nearly 2000 runs at a batting average of 32 with three centuries and 8 fifties, as well as 1006 wickets at 26.
Good test figures by anyones standards.
Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Jul 9 2020, 11:03 PM


Group: Member
Posts: 2,644

perhaps the Average American is a little smarter than the elites give them credit for.
According to the Feds latest statement, American Consumers have been paying down debt like there is no tomorrow (maybe for some of them there isn't).
Despite the Fed spending the US citizens future earnings propping up the main players on Wall street, the plebs have been knocking off those credit card debts, and not increasing the debts as they have in the past.

From Zero hedge


QUOTE
One of the striking changes to US consumer behavior spawned by the economic shutdowns from the coronavirus pandemic, was the unprecedented surge in personal savings which exploded to a record 32% of disposable personal income before easing modestly last month to 23.2%.

Now, thanks to the latest consumer credit data released by the Fed, we know what much of that saving went to: paying down debt .
according to the Fed's latest G.19 statement, in May, total consumer credit tumbled by another $18.28 billion, which while less than the record $68.8 billion crash in April, was far below expectations for $15 billion drop. Just like March and especially April, most of the credit repayment took place in revolving credit which shrank by another $24.3 billion in May (after declines of $21.5BN in March and $58.2BN in April) as US consumption literally went into reverse and instead of spending wildly as it does every other month, usually spending what it can't afford, US consumers repaid the most on their credit cards ever.n fact, over the past three months, US consumer have paid down a staggering $104 billion in credit card debt, bring the total outstanding credit card debt below below $1 trillion. Indicatively, the first time total credit card debt hit $1 trillion was back in December 2007, which means that the deleveraging of the past 3 months has sent US credit card balances to a 13 year low!Going back to the aggressive repayment of credit card debt, that is quite an ominous development for a US economy which is 70% reliant on stable - in many cases credit-card funded - consumer spending. Ominous, but not unexpected, because in a time of virtually no visibility on job prospects and how the pandemic is resolved, instead of doing what they do best, i.e. spend, Americans not only saved money but also went into credit paydown mode, crippling an economy where 70% of total output is a direct result of consumer spending; and needless to say, the tens of millions of Americans (depending on whether one believes the initial claims or the BLS jobs report) who have lost their jobs are not going to go out and spend like drunken sailors any time soon.

So how long until this shocking plunge in consumer spending reverses? The answer is that nobody knows, but until US consumers feel comfortable enough to once again "charge it", there can be no recovery.

What we find most surprising, however, is that in this day and age when the Fed has effectively institutionalized moral hazard and where failure is no longer punished as capitalism is now officially dead and zombie existence is rewarded, Americans still care enough about their credit rating to pay down their own debt even as corporations and the country go on a historic debt issuance spree which everyone knows will never be repaid.

Our advice to Americans with credit cards: go crazy, after all if everyone defaults - and gets a default - it's the same as nobody defaulting.


Mick
  Forum: Investment Discussion

mullokintyre
Posted on: Jul 9 2020, 10:44 PM


Group: Member
Posts: 2,644

So, despite the opening of the Shanghai Gigafactory early this year, and alowing for the partial shutdown of the Freemont factory, Tela managed to ship 5% less cars this years second quarter than last years second quarter.
Not a great result for a company that has the highest capitalisation of all the car manufacturers in the world.
So how did the market react?
Sent TESLA shares up by 7%.
Hear that sound? its me scratching me head.
Mick
  Forum: Investment Discussion

mullokintyre
Posted on: Jul 9 2020, 09:37 PM


Group: Member
Posts: 2,644

Silver has always been known for its antibacterial properties, but until recently no one actually knew the mechanism.
from Science daily

QUOTE
The antimicrobial properties of silver have been known for centuries. While it is still a mystery as to exactly how silver kills bacteria, University of Arkansas researchers have taken a step toward better understanding the process by looking at dynamics of proteins in live bacteria at the molecular level.

Traditionally, the antimicrobial effects of silver have been measured through bioassays, which compare the effect of a substance on a test organism against a standard, untreated preparation. While these methods are effective, they typically produce only snapshots in time, said Yong Wang, assistant professor of physics and an author of the study, published in the journal Applied and Environmental Microbiology.

Instead, Wang and his colleagues used an advanced imaging technique, called single-particle-tracking photoactivated localization microscopy, to watch and track a particular protein found in E. coli bacteria over time. Researchers were surprised to find that silver ions actually sped up the dynamics of the protein, opposite of what they thought would happen. "It is known that silver ions can suppress and kill bacteria; we thus expected that everything slowed down in the bacteria when treated with silver. But, surprisingly, we found that the dynamics of this protein became faster."

The researchers observed that silver ions were causing paired strands of DNA in the bacteria to separate, and the binding between the protein and the DNA to weaken. "Then the faster dynamics of the proteins caused by silver can be understood," said Wang. "When the protein is bound to the DNA, it moves slowly together with the DNA, which is a huge molecule in the bacteria. In contrast, when treated with silver, the proteins fall off from the DNA, moving by themselves and thus faster."

The observation of DNA separation caused by silver ions came from earlier work that Wang and colleagues had done with bent DNA. Their approach, now patent pending, was to put strain on DNA strands by bending them, thus making them more susceptible to interactions with other chemicals, including silver ions.

The National Science Foundation-funded study validated the idea of investigating the dynamics of single proteins in live bacteria, said Wang, an approach that could help researchers understand the real-time responses of bacteria to silver nanoparticles, which have been proposed for fighting against so-called "superbugs" that are resistant to commonly prescribed antibiotics.

"What we want to do eventually is to use the new knowledge generated from this project to make better antibiotics based on silver nanoparticles," said Wang.

All we need now is for someone to find a way for the silver ions to interfere with a Virus - particularly COVID 19.
Some work in this area has already been undertaken. see Antiviral Properties of Silver Nanoparticles on a Magnetic Hybrid Colloidquote]

QUOTE
Silver nanoparticles (AgNPs) are considered to be a potentially useful tool for controlling various pathogens. However, there are concerns about the release of AgNPs into environmental media, as they may generate adverse human health and ecological effects. In this study, we developed and evaluated a novel micrometer-sized magnetic hybrid colloid (MHC) decorated with variously sized AgNPs (AgNP-MHCs). After being applied for disinfection, these particles can be easily recovered from environmental media using their magnetic properties and remain effective for inactivating viral pathogens. We evaluated the efficacy of AgNP-MHCs for inactivating bacteriophage ϕX174, murine norovirus (MNV), and adenovirus serotype 2 (AdV2). These target viruses were exposed to AgNP-MHCs for 1, 3, and 6 h at 25°C and then analyzed by plaque assay and real-time TaqMan PCR. The AgNP-MHCs were exposed to a wide range of pH levels and to tap and surface water to assess their antiviral effects under different environmental conditions. Among the three types of AgNP-MHCs tested, Ag30-MHCs displayed the highest efficacy for inactivating the viruses. The ϕX174 and MNV were reduced by more than 2 log10 after exposure to 4.6 × 109 Ag30-MHCs/ml for 1 h. These results indicated that the AgNP-MHCs could be used to inactivate viral pathogens with minimum chance of potential release into environment.

Mick
  Forum: Macro Factors

mullokintyre
Posted on: Jul 9 2020, 09:27 PM


Group: Member
Posts: 2,644

Talking to my Brother in law who lives in Wodonga, works in Albury about the difficulties of getting across the border.
First day was 1 hour and twenty minutes, but today was only about 40 minutes.
He made the valid point that the NSW government has been warning about the hard closure of the border for at least the last ten days.
So why on earth did they not think to put a few of the 8 billion Public servants to work on designing a permit system before the lockdown occurred??
The sort of disdain that the city based governments have for regional areas was amply demonstrated by the decision to put large concrete barriers at both sides of some bridges to stop the crossings.
Too bad if people on one side needed ambulance or fire access.
To save themselves the trouble of having to monitor these "remote" bridge crossings, they sentenced locals to 200 km round trips for something that would normally take 15 kms.
Gladys not endearing herself to the locals.
Mick

  Forum: Off Topic Chat

mullokintyre
Posted on: Jul 9 2020, 08:38 PM


Group: Member
Posts: 2,644

Been in BSA in the past, mainly because ot used to have a high yield on divvies.
The problem has always been liquidity.
Fairly tightly held (at least it used to be). Took me ages to get a stake, and ages to get out of it again.
Yield not so great now, but at least its a very low PE.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Jul 9 2020, 02:37 PM


Group: Member
Posts: 2,644

Took my profits on GNC.
Reckon it has got its boost from the expected plantings.
There is probably more upside, but it won't be until a few months when better ideas of actual harvest yields start coming in.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Jul 9 2020, 01:45 PM


Group: Member
Posts: 2,644

Might be a bit of a liquidity problem there.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Jul 9 2020, 12:48 PM


Group: Member
Posts: 2,644

From GATA
QUOTE
“We are all used to the bullion banks covering their shorts on Comex by waiting until the speculators are over-bullish and vulnerable to mark-downs that trigger their stops. Algorithmic traders go from long to short in a heartbeat as well, and they dump contracts into a falling market, speeding up the decline. We should say at this juncture that the Managed Money speculators are short-term, attracted by futures leverage, and their gold position is often part of a wider risk strategy deployed by hedge funds. They do not intend to stand for delivery. The wider investment world taking strategic portfolio decisions does not often get involved with gold, so the Comex gold contract has been a secular play.

In the non-speculative category, the bullion banks (Swaps) had 56% of the shorts and the Producer/Merchants 44%. Mark-to-market value of the Swaps net short position was $25bn. Of the speculative longs, the managed money category (hedge funds) held 69%, and at 296,106 long contracts it was almost a record. There was a high level of bullishness; easy pickings for the bullion banks, who by the following December drove the price down to $1120, reducing their net shorts to under 50,000 contracts.

It was a game that evolved out of Comex futures being used simply to offset long bullion positions at the LBMA. Over time, bullion bank traders increased their trading position limits, as opposed to their pure hedging activity, making easy money jobbing the other side of Managed Money trades.

Now look at the current situation, with the gold price at decade highs ($1775) and open interest at 561,628 (30 June).

Bullion banks are between a rock and a hard place. For years they’ve been playing the hedge funds as an angler hooks and plays a fish. That game has ceased and there is no easy way for them to get level. For the moment they are trying to put a lid on the price, but the cost has been rising open interest, and therefore rising mark-to-market positions.
The August active contract runs off the board at the end of this month and bullion banks are likely to be forced into large delivery volumes again. Furthermore, the exchange for delivery arbitrage facility between Comex and the LBMA is broken, allowing Comex premiums to London spot to go unchallenged.

It is increasingly possible the gold contract is evolving into deep crisis, and that force majeure might have to be declared if, as seems increasingly inevitable, a wider banking crisis ensues.”


The comeuppance frot he Commercial banks scamming the gold price is something I have been waiting for.
Its a bit like the the line from Fiddler on the Roof. "It seems we have been waiting for the messiah for a very long time".
Maybe this time they will finally get crushed.
Wouldn't be bad for the price of PM's either!.
Mick
  Forum: Macro Factors

mullokintyre
Posted on: Jul 9 2020, 12:11 PM


Group: Member
Posts: 2,644

And right on Cue it ticked above the 6.32 all time high.
Seems that in this market, all is forgiven pretty quickly.
Unless of course you are DCN.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Jul 9 2020, 10:20 AM


Group: Member
Posts: 2,644

Well, sold out half at .037. The rest are now free carried.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Jul 9 2020, 10:07 AM


Group: Member
Posts: 2,644

If I used voice recognition, most of it would be swearing.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Jul 9 2020, 10:05 AM


Group: Member
Posts: 2,644

China the Monster, also has a monster Dam, the Three Gorges Dam.
Over the past few weeks, there has been steady rain upstream.
From American Thinker

Then on Sunday and Monday, the catchment area had 16.8 inches of rain!
The 3GD plus all the other dams upstream have been letting water flow over barages at rates unheard of.
The inflow is running at 40 acre feet per second! Unimaginable amount of water!
As if the poor buggers in Wuhan haven't suffered enough, its right in the path of the floodwaters.
So far about 1.2 million people have been affected by the massive floodwaters.
But the worst may yet be to come.
The 3GD is so large, that the weight of water may be having seismological effects as the crust undeneath it is compressed. (Geodynamic journal)
And as if things couldn't get any worse, the China Meteorological Administration suggests there will be an 80percent risk of thunderstorms for the next 11 days.
If the 3DG fails, it will be a human disaster that will make COVID seem like a pimple on me bum.
Mick
  Forum: Investment Discussion

mullokintyre
Posted on: Jul 9 2020, 09:14 AM


Group: Member
Posts: 2,644

Nah, just cos the K key doesn't work, its no reason to dump a faithfull old machine.
What I really need to ditch are these old rheumy eyes.
Blind in one eye, can't see out the other.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Jul 9 2020, 08:55 AM


Group: Member
Posts: 2,644

Silver approaching USD19 again.
Should be a good day for anything that has silver attached to it.
Bet those manuka shares rocket when they list Nip, pity you missed them.
Mick
  Forum: Macro Factors

mullokintyre
Posted on: Jul 9 2020, 08:07 AM


Group: Member
Posts: 2,644

Agree there about the hydrogen.
I originally bought into the co many years ago because of the hythane gas/diesel conversions they were doing in India.
Seems to have been pused to the bacburner, bit like the share price.
Mick
  Forum: By Share Code

mullokintyre
Posted on: Jul 8 2020, 12:16 PM


Group: Member
Posts: 2,644

Yep, the inner city will become like ghettos. Only those who can least afford anything better will live there.
Glad i live in the country.
  Forum: Investment Discussion

mullokintyre
Posted on: Jul 8 2020, 10:34 AM


Group: Member
Posts: 2,644

The cut in Production was first announced back in ste start on January, so I guess the market was already aware of it.
At the time, sharecafe wrote about it HERE


QUOTE
2020 is looking like being a year to forget for gold miner Evolution even as gold prices have started the year strongly and the Aussie dollar has again faded back well under 70 US cents.

The company ended 2019 with its financial position strong with solid cash flows and no debt.

But thanks to unexpected problems at its Mt Carlton site in Queensland, Evolution looks like being unable to fully exploit the higher gold prices – thanks to rising tensions in the Middle East and Donald Trump’s various brawls with Iran; China – over trade and his impeachment problem.

Thanks to the discovery that its orebodies at Mount Carlton narrower than first estimated, meaning expected profit will be down by up to 27%, leading to a 40% surge in costs per ounce.

The Mt Carlton mine had been forecast to produce 95,000 to 105,000 ounces in the year to June 30, but in an update to the market on Friday, Evolution it had cut forecast output by 27 percent to between 70,000 and 75,000 ounces for the full year.

That means Evolution’s group gold production for 2019-29 will fall short of previous estimates.

At the time, the Sp fell 6% to 3.58.
It would seem that the market has sort of forgotten.
As of today, the SP is now back above 6 handle o 6.19 and approaching all time high of 6.32.
.

Mick
  Forum: By Share Code

mullokintyre
Posted on: Jul 8 2020, 09:12 AM


Group: Member
Posts: 2,644

Needs no comment.

From The OZ

QUOTE
Vladimir Putin has been urged to ban the sale of a multi-coloured ice-cream branded Rainbow because it allegedly violates Russia’s “gay propaganda” law.

Yekaterina Lakhova, an MP and the head of Russia’s Union of Women, told the Russian President that advertisements for the green, indigo, yellow and violet ice-creams could result in children becoming “accustomed to” the LGBT movement’s rainbow-coloured flag.

“I have the same negative feelings about the rainbow as I do about the swastika,” Ms Lakhova, 72, said.

She added she would consult experts to determine if packaging for Rainbow ice-creams contained “forbidden” images.

Mr Putin said action should be taken if the advertisements were found to be in violation of the law. Homosexuality is not a criminal offence in Russia but it is forbidden to “promote non-traditional sexual relations” to children.

The Chistaya Liniya company that produces the ice-creams denied it was secretly encouraging children to become interested in LGBT issues.


Mick
  Forum: Off Topic Chat

mullokintyre
Posted on: Jul 7 2020, 03:30 PM


Group: Member
Posts: 2,644

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

mullokintyre
Posted on: Jul 7 2020, 03:18 PM


Group: Member
Posts: 2,644

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: Jul 7 2020, 11:10 AM


Group: Member
Posts: 2,644

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: Jul 7 2020, 10:02 AM


Group: Member
Posts: 2,644

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: Jul 7 2020, 09:58 AM


Group: Member
Posts: 2,644

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: Jul 7 2020, 09:55 AM


Group: Member
Posts: 2,644

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: Jul 7 2020, 09:45 AM


Group: Member
Posts: 2,644

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 car’s 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 bank’s 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: Jul 7 2020, 09:42 AM


Group: Member
Posts: 2,644

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: 2,644

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: 2,644

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: 2,644

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

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


Group: Member
Posts: 2,644

Puts a new spin on Portnoy’s
Mick
  Forum: Off Topic Chat

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


Group: Member
Posts: 2,644

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: 2,644

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: 2,644

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: 2,644

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 don’t 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: 2,644

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 didn’t mean a thing in the long run, because once the Gov’t 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: 2,644

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: 2,644

Back in Menindee with some internet coverage today.
Had a long term sell order at 59 cents triggered Monday I think.
Can’t 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: 2,644

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: 2,644

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: 2,644

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 Fed’s 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 Fed’s 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 BlackRock’s 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 Fink’s 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.

Barron’s 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 BlackRock’s 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 BlackRock’s 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: 2,644

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 it’s 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 4×4-ute styling and there’s no doubt it’s a good-looking vehicle, and it has all of the attributes that a 4×4 ute should have… plus some more. As well as it’s 4×4 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 don’t 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 -28°C 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 company’s 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: 2,644

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: 2,644


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 company’s 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 Australia’s 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 market’s or the Board’s expectations.”

Mr Todorcevski’s 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: 2,644

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: 2,644

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: 2,644

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: 2,644

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: 2,644

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: 2,644

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: 2,644

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: 2,644

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: 2,644

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: 2,644

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 Force’s meeting on Tuesday at the White House, Admiral Brett Giroir—the 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: 2,644

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: 2,644

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: 2,644

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: 2,644

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 9½ 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: 2,644

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: 2,644

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: 2,644

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 Westpac’s $1bn penalty and career-ending accountability moves to Canberra emerging unscathed from the robodebt disaster.

“There’s no logic … behind the two outcomes, particularly if you believe Centrelink’s debt recovery program is a more grievous failure because it preyed on (vulnerable) people,” a senior banker said.

While acknowledging Austrac’s serious allegation of a link to child exploitation in some payments made by 12 Westpac customers, he said the bank’s 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: 2,644

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: 2,644

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 that’s being said, it’s like, what do we do?” The Good Place actress continued. “Well, we don’t need the black community to guide us right now. They’re 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: 2,644

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: 2,644

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 People’s 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 bank’s governor Yi Gang. He told reporters that China’s 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: 2,644

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 people’s 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: 2,644

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: 2,644

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: 2,644

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: 2,644

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 country’s 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: 2,644


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.

Let’s 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 loans…Typically, 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 borrower…When 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 CitiFinancial…The pressure to sell coverages came from CitiFinancial’s Regional and District Managers. Each branch had monthly credit insurance sales goals to meet…If 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 borrower’s 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 it’s marshalling its money machine to elect a black man to the highest office in the land. Why isn’t the press curious about this?

“Walk into any of the largest Wall Street brokerage firms today and you’ll see a self-portrait of upper management’s 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 General’s 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 ½ 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, Obama’s 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.

Warren’s 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 government’s 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 wasn’t a secret. It wasn’t the product of a handful of racist government officials. Nope. It was the official policy of the United States government until 1968. That’s in my lifetime. And because the Federal government had set the standard, private lenders enthusiastically followed Washington’s 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.” That’s not a typo. Warren said “That’s 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, it’s 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 ¼ 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: 2,644

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: 2,644

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

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