Hochschild Mining Share Discussion Threads

[stevea171] 09/12/2016 14:53

Monte Paschi Stock, Bonds Collapse After ECB Rejection

Having soared ridiculously (25% off Tuesday lows) following its dip after the Italy referendum 'no' vote, ailing Italian lender Monte dei Paschi di Siena has seen its stocks and bonds eviscerated in today's trading as reality dawns that the fecal matter in Italy is about to strike the rotating object. ECB's rejection of Paschi's request for more time has sparked wholesale selling across the Italian banking system.

[goldenshare888] 09/12/2016 14:33

:))

Our time is coming.............!!

:)))

[pixi] 09/12/2016 14:15

Quietly loading up.

[lauders] 09/12/2016 13:36

Nice little tick-up. Long may it continue!

[topicel] 09/12/2016 11:55

Well I have similar thoughts about Fres Stevea171, it moves slower to PM price machinations normally than things like HOC but in this instance has been hit downwards even bigger since Trump euphoria took hold.

The whipsaw effect is likely to be greater this time if we see it in action, so a good time to buy IMHO. Not much more downside around those levels...

Topicel

[stevea171] 09/12/2016 11:26

ODR. Yes, Silver leading gold in this new upswing as can be seen in the 60 day charts above and as is to be expected.

[onedayrodders] 09/12/2016 10:28

Silver seems to want to creep up of late

:O)

[stevea171] 09/12/2016 10:28

Hi Ext. As you say BMPS and the rest of the Italian Banking system are not isolated but if they go down will be an hors d'oeuvre before the main meal of Deutsche Bank finally going off the cliff .....
Kick the can down the road approach can't continue much longer!

FRES (silver/gold) bouncing off the bottom. Back over 1200p this morning but can rocket when it gets fully into the higher gears. See what happened in late June/early July: 1200 - 2000p in just 9 days. Ftse100. I have bought some for the ride back to £20.

[hectorp] 08/12/2016 19:52

more banks inplicated in silver market price fixing: the roaches are hugging the skirting boards. Could Brussels/EU take some sort of action? Its time the EU were disassociated with the goings on in NY.

[extrader] 08/12/2016 18:13

Hi stevea171,

The problem with bailing in MPS in Italy (apart from the atypically high level of bondholders who'd be stuffed) is that the Italians would then turn around and demand that the same treatment should be adopted when it's Deutsche's turn to be rescued.....

ATB

[jimbowen30] 08/12/2016 17:48

Chaps

I've started reading the Gold Cartel by Dimitri Speck and would recommend it to all. He shows the gold manipulation started in 1993 and is still going on today. Million dollar question is how long can it go on?

[chipperfrd] 08/12/2016 17:30

Topicel,

Controlling the LBMA fix for gold and silver has set PM prices globally for 100 years.

What goes on at the Comex has the same actors, just different methods to achieve common aims.
Chip

[pixi] 08/12/2016 17:05

I didn't like the way things were going so I got out this afternoon at 237.

[chipperfrd] 08/12/2016 12:29

More about the silver price rigging.



Thanks to Spike_1 for the spot.

[goldenshare888] 08/12/2016 12:10

LOL

:-))

[topicel] 08/12/2016 12:07

I wonder if any of the 'respected' journalists will ask the simple question as to what Mario Draghi intends to do about Monte et al in Italy...

Unless of course he deals with it prior to the press conference in his statement about QE and keeping interest rates on hold blah, blah, blah.

1.30 p.m.UK time and we'll see how PMs react. Just possibly yesterday's surge in silver was a precursor of what might come later. The ECB can't be leaky, can it? Lol.

Topicel

[stevea171] 08/12/2016 11:21

The next domino has fallen...

I recently spent several weeks in Italy, taking the pulse of the country. The Italian referendum on December 4 turned out exactly how I predicted it would.

The “No” vote won in a landslide, with 59% of the vote versus 41% for “Yes,” with a 70% turnout.
The pro-EU Prime Minister promptly announced his resignation after the crushing defeat.

A surging populist party waits in the wings. They're now likely a matter of months away from taking power and then holding a new referendum on whether Italy should dump the euro and go back to the lira.

If that happens, Italians will likely vote to leave.

Without Italy, the euro currency would likely disintegrate. Without the euro, the whole European Union—the world's largest economy—would likely come unglued.

Italy’s referendum is likely just the first of many dominos to fall.
Here are the ones that will come next…

A Banking Crisis

The Italian banking system is a mile-high house of cards.

It’s looking wobblier every day.

The triumph of the “No” side will also accelerate the crises in the Italian banking system, which was already on the verge of collapse.

The collapse now appears imminent. It could start as soon as this weekend.

Banca Monte dei Paschi di Siena (BMPS) will likely be the spark that sets it off.

BMPS—Italy’s third-largest and most troubled bank—is likely to announce in the coming days whether it has successfully raised enough capital to remain solvent. My view is that this would be highly unlikely.

If the capital raising efforts fail, there’s only one way to keep BMPS—and the entire Italian banking system—from collapsing… a bail-in.

A bail-in would have a catalyzing effect, like political nitroglycerin. If and when it happens, expect support for anti-euro Italian populist parties to skyrocket.

[pixi] 08/12/2016 11:16

Chas

Gary Christenson

The Deviant Investor

Yes, I've read it a while ago. Thought provoking stuff.

[goldenshare888] 08/12/2016 08:25

:)

Looking very similar to July chart before shooting up to 320p area!

:))

[edjge2] 08/12/2016 07:32

a couple of weiss, larry not so bullish on gold yet but time is near


And on a related subject
hxxp://www.moneyandmarkets.com/war-cash-just-starting-heat-83372