BobbyC
11 May 2016
Re: Alice in Wonderland Economics Leads Us towards Gold Until I got to the end, I thought this was your own article lolStrange how, despite the author's strong grasp of economics and recognition of some of the problems we face, he 'has always been anti-gold' and is only now coming round to the view that it might prove useful insurance.There are others, far less qualified, who have long held realised that (i) the present monetary order is dying and will be need to be replaced. Gold should form part of the new system but it might take more pain before the elites allow this, ((ii) whatever income is not taxed at source will be eroded away through NIRP (iii) Anyone below about 50 is most unlikely to receive a state pension when they 'retire' at 70,75, 80? Not only are the state coffers empty but our demographics are shot to bits with a declining number of young entering the workforce as the population gets older.Short of winning the lottery, individuals and their families have few escape routes to keep them out of serfdom. Precious metals and select PM mining stocks (not PGD) seems as good a route as any, especially at these low levels.
Antiques Of Woodstock
11 May 2016
Alice in Wonderland Economics Leads Us towards Gold As I have been telling anyone that I can buttonhole at drinks parties for some time, we are living in the age of Alice in Wonderland Economics.Alice in Wonderland Economics is the weird world where investors, such as pension funds, pay to lend to governments which are crippled by debt. (Germany, Japan, Denmark and Sweden can raise new debt at negative interest rates.) It is a world where long-term yield curves are flat – so it costs the same for governments to borrow for 10, 20, 30 years as for three months. It is a world where increasingly scarce commodities fall in price, yet lack-lustre equities rise on flimsy earnings projections. A world where unelected central bankers call the shots and elected ministers of finance are virtually impotent (though they do love to re-arrange the deck chairs as the liner sinks – bless them). It is a world where interest rates (fixed at zero) have nothing to do with the equilibrium of savings and investments, as mainstream economic theory insists. It is a world where the chattering classes castigate austerity; yet where the budget deficit and the national debt only go up. A world in which countries – Britain at the forefront – borrow money from the international markets in order to give it out as “aid” to spurious consultants (I can tell you about consultants – I’m bloody one of them) while haemorrhaging money from our armed forces at a time of increasing geopolitical risk.If you think economics is complicated (which it can be) then thank God you were buttonholed by me. Because it’s all incredibly simple really: we are drowning in a sea of debt. If you owe your bank manager £100, as the great Keynes said, you have a problem; but if you owe him £1 million, then he has a problem. Now imagine that everyone owes everyone else £1 million and you see that we are all in Tight Street.The Credit Crunch of 2008 was ultimately something to do with the fact that Western banks went on binge lending sprees to people or weird synthetic entities (often rated AAA by the rating clowns) which could never pay the money back. The Chinese, who have been the motor of the world economy since the late 1990s, then decided to mitigate the effects of the slowdown by engineering a credit boom. That credit boom has now become a bubble. And the thing we all know about bubbles is that, eventually, they burst.And when the Chinese bubble finally bursts, the major demand-pull factor in the world economy will suddenly slacken like a busted halyard. Just look at the impact of a Chinese slowdown from a level of 8 percent GDP growth to 6-or-so percent has had on Australia… The Ozzie Dollar fell precipitously last summer after perturbations on the Shanghai market (though it is actually now back to where it was a year ago vis-à-vis the Dollar and the Pound). Stocks in Australian miners which feed China’s appetite for natural resources have slumped. That’s just an amuse-bouche of what a real Chinese slowdown would be like.Last month Fitch warned that “a remarkable build-up in leverage across China’s economy” made the current growth target of 6.5 percent “extremely challenging”[i]. While China’s national debt-to-GDP ratio stood at 55 percent (as against about 89 percent for Britain and around 75% – depending on how it is calculated – for the USA), the overall “true ”level of debt (including corporate debt) was closer to 250 percent of GDP. And credit is growing faster than GDP. Apparently, for every 1 yuan in Chinese growth nearly 5 yuan of new credit was required last year[ii]. That said, Fitch thought that a “hard landing” – where Chinese growth shrinks to nothing – was unlikely.Moreover, Fitch thought that China’s banks at least were funded by retail deposits (thanks to a robust savings ratio – unlike in the US and UK). China kept it’s A+ rating with Stable outlook, but those curmudgeons couldn’t resist a parting shot: that “a sharp and sustained rise in government indebtedness would be negative”. Thanks guy
Antiques Of Woodstock
04 May 2016
Re: Bank's Admission Of Gold AOW will those retail buyers of Gold & Silver products @ a discount rate be expected to pay a retrospective additional payment due their fraudulently low purchase prices???!!! Phil...---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- -------Good morning PhilLOL!Retail buyers pay the price that is quoted and are no more than 'pawns' in the game of manipulation played by those who control the market and make the price.On a serious note for a moment.It is a sad state of affairs when the government's tax take relies on dishonesty in the markets as demonstrated in this case by the fixing of the price of gold/silver. We all know that London is the number one city in UK Plc.with regard to taxation receipts which keeps the country going - with London's revenue being generated from the banking and financial sector in the main.When that sector is proven to be corrupt - What options do the so called 'regulators' have at their disposal? If they stop the corruption - they stop the income flow through taxation which starves the government of the funds required to run the country.Thus the situation continues as no one will ultimately 'bite the hand that feeds it'.A 'slap on the wrist' will inevitably occur just to make everyone believe the the regulators are 'fit for purpose' - and if proven otherwise they will just change their name again and reemerge as a new 'all singing and dancing' regulatory body.The below makes sad reading:The Securities and Investments Board Ltd ("SIB"
was incorporated on 7 June 1985 at the instigation of the UK Chancellor of the Exchequer, who was the sole member of the company and who delegated certain statutory regulatory powers to it under the then Financial Services Act 1986. It had the legal form of a company limited by guarantee (number 01920623). After a series of scandals in the 1990s, culminating in the collapse of Barings Bank, there was a desire to bring to an end the self-regulation of the financial services industry and to consolidate regulatory responsibilities which had been split amongst multiple regulators.The SIB revoked the recognition of The Financial Intermediaries, Managers and Brokers Regulatory Association (FIMBRA) as a Self-Regulatory Organisation (SRO) in the United Kingdom in June 1994, subject to a transitional wind-down period to provide for continuity of regulation, whilst members moved to the Personal Investment Authority (PIA), which in turn was subsumed.The name of the Securities and Investments Board was changed to the Financial Services Authority on 28 October 1997 and it started to exercise statutory powers given to it by the Financial Services and Markets Act 2000 that replaced the earlier legislation and came into force on 1 December 2001. At that time the FSA also took over the role of the Securities and Futures Authority (SFA) which had been a self-regulatory organisation responsible for supervising the trading in shares and futures in the UK.In addition to regulating banks, insurance companies and financial advisers, the FSA regulated mortgage business from 31 October 2004 and general insurance intermediaries (excluding travel insurance) from 14 January 2005.On 16 June 2010, the Chancellor of the Exchequer, George Osborne, announced plans to abolish the FSA and separate its responsibilities between a number of new agencies and the Bank of England. The Financial Conduct Authority would be responsible for policing the financial activities of the City and the banking system. A new Prudential Regulation Authority would carry out the prudential regulation of financial firms, including banks, investment banks, building societies and insurance companies.On 19 December 2012 the Financial Services Act 2012 received royal assent and came into force on 1 April 2013. The act created a new regulatory framework for financial services and abolished the FSA. Specifically, th
phil and leggett
04 May 2016
Re: Bank's Admission Of Gold & Silver Riggin... AOW will those retail buyers of Gold & Silver products @ a discount rate be expected to pay a retospective additonal payment due their fraudulently low purchase prices???!!! Phil...
Antiques Of Woodstock
03 May 2016
Bank's Admission Of Gold & Silver Rigging Good afternoon AllPosted just for your interest:Billion Dollar Lawsuits Filed Following Deutsche Bank's Admission Of Gold, Silver RiggingSubmitted by Tyler Durden on 04/16/2016 13:38 - 0400Deutsche Bank Precious Metals Switzerland United Kingdom Barely a day had passed since the historic admission of gold and silver price rigging by Deutsche bank, which as we reported on Thursday was settled with not only "valuable monetary consideration", but Deutsche's "cooperation in pursuing claims" against other members of the cartel, i.e., exposing the manipulation of other cartel members, and the class action lawsuits have begun.Overnight, two class action lawsuits seeking $1 billion in damages on behalf of Canadian gold and silver investors were launched in the Ontario Superior Court of Justice.The first class action alleges that the defendants, including The Bank of Nova Scotia, conspired to manipulate prices in the silver market under the guise of the benchmark fixing process, known as the London Silver Fixing, for a fifteen-year period.More from the suit:It is further alleged that the defendants manipulated the bid-ask spreads of silver market instruments throughout the trading day in order to enhance their profits at the expense of the class. This alleged conduct affected not only those investors who bought and sold physical silver, but those who bought and sold silver-related financial instruments.Law enforcement and regulatory authorities in the United States, Switzerland, and the United Kingdom have active investigations into the defendants' conduct in the precious metals market.The case is on behalf of all persons in Canada who, between January 1, 1999 and August 14, 2014, transacted in a silver market instrument either directly or indirectly, including investors who participated in an investment or equity fund, mutual fund, hedge fund, pension fund or any other investment vehicle that transacted in a silver market instrument.A copy of the Notice of Action can be found at sotosllp.com. Potential class members can register on the website to obtain more information as the case progresses.The plaintiffs and the proposed national class are being represented by a national team of lawyers from Sotos LLP (www.sotosllp.com), Koskie Minsky LLP (www.kmlaw.ca) and Camp Fiorante Matthews Mogerman (www.cfmlawyers.ca) with offices in Ontario and British Columbia.An identical class action lawsuit was also launched for gold manipulation. [link] luck all...
BobbyC
28 Apr 2016
Re: Is this a joke? I think some of you are being overly critical of the Concert Party. Shareholders should be reassured at CP's members credentials, which include not only travelling to Watch polo games but, in some cases, actually playing polo internationally:"Leonor Tanoira: Leonor is the sister of Gonzalo Tanoira, whose occupation is a business administrator. Leonor is married to a professional polo player and spends most of her time travelling around the world accompanying her husband while he plays polo. She is a shareholder in some of the companies where the rest of the family has invested. She was the founder and general manager of Bully SA, a cashmere importer. Santiago Tanoira: Santiago is the brother of Gonzalo Tanoira and is a polo player. Santiago is single and spends most of his time playing polo internationally"My PGD shares will come in handy at the end of the tax year to offset gains elsewhere. That's about all they're good for.
Antiques Of Woodstock
28 Apr 2016
Re: Is this a joke? I think the offer is 5 for every 23 shares held! Not much better!---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- -----Good morning ajinbali777 LOL - just shows how much thought AOW is giving this fantastic offer! Either way - those outside the Concert Party are being squeezed out with an ever reducing company ownership percentage.So sad - as in the early days those of us who invested in this company's future believed in the facts laid before us - the management pedigree - and the fact that we would become a self funded producer using surplus monies generated from production to bring us to a multiple play production.What has happened is far from what we were promised.C'est la vie.Good luck...
ajinbali777
28 Apr 2016
Re: Is this a joke? I think the offer is 5 for every 23 shares held! Not much better!
Antiques Of Woodstock
28 Apr 2016
Re: Is this a joke? Good morning AllExactly why my last post ended up being sent before it was finished I have no idea – but here is the full post:I will not labour the points that I have made about this company and the way in which it has been run which has landed us in the position in which we find ourselves - other than to say that existing shareholders being offered shares on a 23 to 1 basis speaks volumes about how we are being squeezed out of owning the company percentage-wise.Had there been a genuine desire to raise the money from all shareholders - this restriction would not have been put in place.It goes without saying that the Concert Party who will no doubt be supporting this placement will be buying shares at 1.5 pence which in turn means that at any time in the future they can buy just one more share to be placed in a position whereby they are forced to make an offer for the company at the highest price they have paid for a share in the previous 12 months which will be 1.5 pence.This entire situation has been calculated to shaft those of us who have supported this company through 'thick and thin'. In reflection - no point in the Concert Party being forced to buy out us remaining shareholders at 4.5 pence after the last capital raising when they have now managed to get the share price to fall by a further 66% to 1.5 pence.Before anyone suggests that this is nothing to do with the Concert Party and everything to do with the way the markets work - I would like to point out that the Concert Party control the company with their substantial shareholding and the market place a value on a company by the way that it is being run and the competency of the management.Us shareholders have been no more than expendable pawns in a game of chess.As to AOW taking up this latest share offer at 1.5 pence - I will apply the same logic as to when I declined the last time around at 4.5 pence - a decision which although criticised by some on this bb has now proven to be correct.I wonder what the outcome will be this time around? 1. Good news all you faithful shareholders – the management would like to announce that we have raised enough to take the company to the next stage of gold production.2. Because the company could not raise the required funds required – there is no option other than to cease trading and look for a buyer of our assets.Either way – the company and or it’s assets will end up in the hands of those who have manipulated this situation.This is so transparent it beggars belief.Good luck all
Antiques Of Woodstock
28 Apr 2016
Re: Is this a joke? Good morning AllI will not labour the points that I have made about this company and the way in which it has been run which has landed us in the position in which we find ourselves - other than to say that existing shareholders being offered shares on a 23 to 1 basis speaks volumes about how we are being squeezed out of owning the company percentage-wise.Had there been a genuine desire to raise the money from all shareholders - this restriction would not have been put in place.It goes without saying that the Concert Party who will no doubt be supporting this placement will be buying shares at 1.5 pence which in turn means that at any time in the future they can buy just one more share to be placed in a position whereby they are forced to make an offer for the company at the highest price they have paid for a share in the previous 12 months which will be 1.5 pence.This entire situation has been calculated to shaft those of us who have supported this company through 'thick and thin'. I reflection - no point in the Concert Party being forced to buy out us remaining shareholders at 4.5 pence after the last capital raising when they have now managed to get the share price to fall by a further 66% to 1.5 pence.Before anyone suggests that this is nothing to do with the Concert Party and everything to do with the way the markets work - I would like to point out that the Concert Party control the company with their substantial shareholding and the market's place a value on a company by the way that it is being run and the competancy of the management.Us shareholders have been no more than expendible pawns in a game of chess.As to AOW taking up this latest share offer at 1.5 pence - I will apply the same logic as to when I declined the last time around at 4.5 pence - a decision which although criticised by some on this bb has now proven to be correct.I wonder what the outcome will be? 1.
Hunterguitar
27 Apr 2016
Re: Is this a joke? I agree. I will not be taking up the offer. We just seem to be limping along with no prospect of benefiting from the investment.I sometimes wonder if all the gold actually makes it to the 'gold room'. After all this is Argentina. A bit like the wild west. There has got to be something in it for somebody !HG
shugg1e
27 Apr 2016
Is this a joke? Been offered 1 new share for every 23 held at a price of 1.5p!!!!!Wheres the discount and incentive to take up this offer??Like i said is it a joke you can buy them on the open market for 1.5pSo i will not be taking up the offer and to be honest last time we were offered shares at 4p bow look at the price.I have basically written off this investment now as a $200 increase in the POG did not equate to a doubling of the share price like other gold miners.Good luck
JB 9342
27 Apr 2016
Re: Veiled threats and the concert party ? Not sure why you see them as veiled threats. They seem like a statement of fact to me.Without the waiver the Miguens can't subscribe and PGD does need their money.Without the money how can they proceed with any development or exploration?
Keysi
27 Apr 2016
Veiled threats and the concert party ? Having read thru the notification, I was interested to see the request for 'waiver' of the concert party takeover (sorry if these aren't the exact correct legal terms).... I also see the comment that if they don't get the funding they will stop developments.... Amazing !! Keysi (still here, just very quiet)
Antiques Of Woodstock
25 Apr 2016
Re: MANY THANKS TO ANTIQUES OF WOODSTOCK Good morning Investor KTI am humbled by your post as in truth I am no better informed than any other poster.As most on these bb's know - I worked in the city until I was 30 and exited as soon as I had a chance but that was 27 years ago and the markets have changed dramatically since then.I do no more than 'call it' as I 'see it' and endeavour to post what I believe are the true facts whether they are bullish or unpalatable.Good luck...
