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Well that's the first cup of coffee worn off, now to do battle with my antipodean market reality. Expecting a good open for the ASX Gold Tribe.
 
Oh, yeah... August gold has delivered, 11240 to date with 201 still open and I guess stand for the metal. Silver is @ 951 with one solitary contract still open asking for metal!

September silver is @ 43,083 open contracts as we head into September delivery.... could be good!
 


It also means the shit's about to hit the electrical convenience...
 
Cigarlover said:
Probably taken way out of context. 30k is nothing for a Senator. Whats his total portfolio worth? With a net worth between 5 and 10 mil it is probably just a hedge against his long positions. Insurance in case of a downturn.
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and probably totally justified.

However, not a good look politically.
 
Zed said:
and probably totally justified.

However, not a good look politically.
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I dont think politicians care anymore about what they look like. With insider trading being legal for them, any illusion that they play by the same rules is out the window.
In the US chiggers on top of poison ivy is probably more popular than any politician.
 
Goldhedge said:
Is this a problem?
...
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It's expected and healthy IMO.

www.pmbug.com

Zombie apocalypse isn't what you were expecting

... In its recent quarterly report, the BIS warned that low rates have catalyzed an increase in the number of “zombie” firms. The number of such firms has now risen to an all-time high. Zombie firms are companies “that are at least 10 years old, yet are unable to cover their debt service costs...
www.pmbug.com www.pmbug.com
 
pmbug said:
It's expected and healthy IMO.

www.pmbug.com

Zombie apocalypse isn't what you were expecting

... In its recent quarterly report, the BIS warned that low rates have catalyzed an increase in the number of “zombie” firms. The number of such firms has now risen to an all-time high. Zombie firms are companies “that are at least 10 years old, yet are unable to cover their debt service costs...
www.pmbug.com www.pmbug.com
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I'd agree if there wasn't naked shorting....
 
pmbug said:
It's expected and healthy IMO.

www.pmbug.com

Zombie apocalypse isn't what you were expecting

... In its recent quarterly report, the BIS warned that low rates have catalyzed an increase in the number of “zombie” firms. The number of such firms has now risen to an all-time high. Zombie firms are companies “that are at least 10 years old, yet are unable to cover their debt service costs...
www.pmbug.com www.pmbug.com
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Yes but starting from a level we should never have got to. Regardless the system needs to clear and flush all the crap.
 
Goldhedge said:
I'd agree if there wasn't naked shorting....
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Along with your election processes it's another system that needs to be cleaned up so that naked shorting simply cannot happen. The ASX doesn't have that issue everything's electronic everything's matched you can't sell shares without lending them first.

There is way too much vested interest in the inefficiencies of antiquated systems. Once people make money out of these inefficiencies they tend to be sticky. It took a while to read the system of breakage that very fact.
 
Sure, you go ahead an believe that. They told us the same thing until people started to really, really dig. It's been Implemented over the last 30 years, since the 90s really. Back when they had paper certs on the floors and you had to run those around it was pretty secure. Then along came the 90's and lots of shenanigans started. Then the $EC got rid of paper in ~2008 and so forth. Gee, what could possible go wrong when they Own the accounting system with virtually zero transparency.
 
Voodoo said:
Sure, you go ahead an believe that.
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Delivery is electronic @ T+2, title is electronic, the ledger must balance @ T+2. CHESS makes it pretty well impossible to naked short sell. I've never experienced a failure in 30 years... but I guess you know better?
 
Zed said:
Delivery is electronic @ T+2, title is electronic, the ledger must balance @ T+2. CHESS makes it pretty well impossible to naked short sell. I've never experienced a failure in 30 years... but I guess you know better?
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The USSA has all that as well. Except they OWN the ledger system. You never know when "your" stock was failed to deliver. They just put a check into the system and it's pretty much a self-reporting thing as well.

Anyway, just fooling around with charts and this looks important and why sentiment is in the crapper. Small miners are bouncing around pandemic low valuations.

1692919648565.png
 
Voodoo said:
The USSA has all that as well. Except they OWN the ledger system.
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No the DTC is manual, that's where the problem arises.

Voodoo said:
You never know when "your" stock was failed to deliver. They just put a check into the system and it's pretty much a self-reporting thing as well.
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Yes I do, I have direct access to all the registries involved. I can do anything with my stock outside my brokerage account. I can verify, transfer, sell, do whatever outside of broker involvement.
 
This is for ASX listed stock settled via CHESS, if I buy US stock via my broker it's a different story. Then all the vagaries of the US system come into play. There is no regsho list equivalent that I have ever found or become aware of.
 
Voodoo said:
Hmm a monopoly with a system that just failed badly. Interesting that they at least tried a blockchain system.

www.afr.com

ASX grip on clearing shaken by blockchain disaster

An Accenture report says the plan to replace the CHESS settlement system with a distributed ledger was too complex and plagued with uncertainties.
www.afr.com www.afr.com
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It's the main platform, there are others, so it depends on what you call a monopoly. Yes it is ageing now, and certainly should be revamped, but it has served well for many decades. Like all these things change will come slowly, it is often better to be setting up from scratch than to be dealing with legacy. It would be good to see blockchain tech involved, but we too will run into the vested interest issues. Maybe it should move to government at some level. It would be good to have all exchanges operating under one common backend that is audited and regulated by external parties.

I dunno where that is going, but I have never seen an FTD on the ASX or had anyone talk of problems in that department. Our shares are directly registered to us, unlike your brokerage system. JS's drive to get your certs, just wasn't a thing down here, we automatically get full legal title to the shares. It matters not who fails, they are yours.
 
Voodoo said:
Now dig into who owns the ASK.... Gotta be the same bankers as everywhere else.
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It's a listed company, listed on the ASX, many individuals and super funds have shares and very few have over 5% of the company. These are the top 4 that do have over 5%.


NameShare HoldingShares Held (%)
Unisuper Ltd 25,491,073 13.17%
Barclays Group 11,712,985 6.05%
Australiansuper Pty Ltd 11,620,588 6.00%
State Street Corporation and subsidiaries 9,790,634 5.06%
 
Goldhedge said:
A good deal?

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The period prior to 2008, 06/07 was spent at these levels. Started falling in mid 2007 into the crisis. Remember JS bleating about commercial paper locking up in that period?

24 could be 08 revisited. Timed with a correction in gold from higher levels.

I dunno, just a theory.

Too many people baying for blood right now, IMO.

We C.
 
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