Medusa Share Discussion Threads

[chipperfrd] 15/8/2015 11:37

Off-topic!

Have any of you upgraded to Windows 10?

If so, what are your impressions v Win7?

I am happy running W7 on a couple of modern PCs and a laptop and I am a bit cautious about taking the plunge!

Any feedback gratefully received.
Chip

[arja] 14/8/2015 01:49

interesting articlw on the other thread . But such buying , eg by Russia , does not help the gold price as they buy simply because they perceive it as a hedge
and better to hold gold that a falling ruble , better of 2 evils really .
But chart shows that gold MIGHT be bottomong although is falling today do far after the big rally recently .

[andrewsr] 13/8/2015 12:45

Strong buying:

[deka1] 13/8/2015 08:06

Good vol 1.85 mil and up 7%,
I wonder if the Chinese have finished devaluing yet,maybe a bit more to come .

[deka1] 11/8/2015 11:10

thanks chip

[chipperfrd] 11/8/2015 10:22

China has devalued the Yuan by 2% against the USD.

[deka1] 11/8/2015 08:58

What just happened to gold price,what brought that on?

[arja] 11/8/2015 06:57

did hit 54 but now down 1.5 at 50.5 with 5 minutes to go - sadly MML disappoints again and I almost entered for a trade at 53.5 ! obviously still too dangerous to ttade it if going long .

[deka1] 11/8/2015 06:39

From RUGT



By Dr. Paul Craig Roberts Former U.S. Treasury Official


Do you remember when real reporters existed? Those were the days before the Clinton regime concentrated the media into a few hands and turned the media into a Ministry of Propaganda, a tool of Big Brother. The false reality in which Americans live extends into economic life….

Last Friday’s employment report was a continuation of a long string of bad news spun into good news. The media repeats two numbers as if they mean something—the monthly payroll jobs gains and the unemployment rate—and ignores the numbers that show the continuing multi-year decline in employment opportunities while the economy is allegedly recovering.

The so-called recovery is based on the U.3 measure of the unemployment rate. This measure does not include any unemployed person who has become discouraged from the inability to find a job and has not looked for a job in four weeks. The U.3 measure of unemployment only includes the still hopeful who think they will find a job.

The government has a second official measure of unemployment, U.6. This measure, seldom reported, includes among the unemployed those who have been discouraged for less than one year. This official measure is double the 5.3% U.3 measure. What does it mean that the unemployment rate is over 10% after six years of alleged economic recovery?



A Staggering 23% Unemployment In The United States

In 1994 the Clinton regime stopped counting long-term discouraged workers as unemployed. Clinton wanted his economy to look better than Reagan’s, so he ceased counting the long-term discouraged workers that were part of Reagan’s unemployment rate. John Williams (shadowstats.com) continues to measure the long-term discouraged with the official methodology of that time, and when these unemployed are included, the US rate of unemployment as of July 2015 is 23%, several times higher than during the recession with which Fed chairman Paul Volcker greeted the Reagan presidency.

An unemployment rate of 23% gives economic recovery a new meaning. It has been eighty-five years since the Great Depression, and the US economy is in economic recovery with an unemployment rate close to that of the Great Depression.

The labor force participation rate has declined over the “recovery̶1; that allegedly began in June 2009 and continues today. This is highly unusual. Normally, as an economy recovers jobs rebound, and people flock into the labor force. Based on what he was told by his economic advisors, President Obama attributed the decline in the participation rate to baby boomers taking retirement. In actual fact, over the so-called recovery, job growth has been primarily among those 55 years of age and older. For example, all of the July payroll jobs gains were accounted for by those 55 and older. Those Americans of prime working age (25 to 54 years old) lost 131,000 jobs in July.

Over the previous year (July 2014 — July 2015), those in the age group 55 and older gained 1,554,000 jobs. Youth, 16-18 and 20-24, lost 887,000 and 489,000 jobs.

Today there are 4,000,000 fewer jobs for Americans aged 25 to 54 than in December 2007. From 2009 to 2013, Americans in this age group were down 6,000,000 jobs. Those years of alleged economic recovery apparently bypassed Americans of prime working age.

As of July 2015, the US has 27,265,000 people with part-time jobs, of whom 6,300,000 or 23% are working part-time because they cannot find full time jobs. There are 7,124,000 Americans who hold multiple part-time jobs in order to make ends meet, an increase of 337,000 from a year ago.


The young cannot form households on the basis of part-time jobs, but retirees take these jobs in order to provide the missing income on their savings from the Federal Reserve’s zero interest rate policy, which is keyed toward supporting the balance sheets of a handful of giant banks, whose executives control the US Treasury and Federal Reserve. With so many manufacturing and tradable professional skill jobs, such as software engineering, offshored to China and India, professional careers are disappearing in the US.

The most lucrative jobs in America involve running Wall Street scams, lobbying for private interest groups, for which former members of the House, Senate, and executive branch are preferred, and producing schemes for the enrichment of think-tank donors, which, masquerading as public policy, can become law.

The claimed payroll jobs for July are in the usual categories familiar to us month after month year after year. They are domestic service jobs—waitresses and bartenders, retail clerks, transportation, warehousing, finance and insurance, health care and social assistance. Nothing to export in order to pay for massive imports. With scant growth in real median family incomes, as savings are drawn down and credit used up, even the sales part of the economy will falter.

Clearly, this is not an economy that has a future. But you would never know that from listening to the financial media or reading the New York Times business section or the Wall Street Journal. When I was a Wall Street Journal editor, the deplorable condition of the US economy would have been front page news.

[arja] 11/8/2015 00:49

50 level held and likely to add a few cents today for a change as gold over 1100 again .

[greenleaf] 10/8/2015 17:01

I left an order in place overnight and it got filled at 50c - something of a bargain?

[deka1] 10/8/2015 11:40

FROM Mr O ON RUGT, about the rotten banks of europe and the whole rotten euro zone ,A very good watch , just skip the adds every 20mins

[adyfc] 07/8/2015 16:11

PHB is the only one who can turn this baby around.

[arja] 07/8/2015 15:28

well, 50 is support level in OZ but even though it was well bid at that price I noticed the buyers were being hit. Sadly I think there is a good chance it will go under 50 although a stronger gold price today might delay it . The odd thing is that it often looks strong on market depth ticket but sellers in the woodwork !

[augustusgloop] 07/8/2015 11:36

I see that these are now stabilising at about 25p per share.

I remember how much stick the mug-punters gave me for pointing out that 350p was expensive for a company run by liars.

That promised 200k ounces per year still seems a very long way away.

[jimbowen30] 06/8/2015 20:49

Chip/Goldminer - that is one of the most incredible days cricket I have ever seen!

[goldminer70] 06/8/2015 20:33

Chip
I didn't read your post of 14.14 I was too busy watching England murder the Aussies.
To go in at close of play with a 214 first innings lead and 6 wickets in hand is as unbelievable as MML's share price Serves the aussies right for the shenanigans of MML.

Thank you for you excellent posts and insight into gold and gold miners.

Goldminer70

[stevea171] 06/8/2015 19:50

Dek. In markets the name of the game is to kick those that are down and to laud those who are up. The brokers act as a herd and are usually the last to reverse recommendations when the investment outlook for a company has changed.

Basically they don't want to stand out or to be wrong so they pretend to lead but in practice mostly follow trends .....

[deka1] 06/8/2015 16:44

Hi Steve, with gold price where it is every miner is highly leveraged from this level, they are all getting near break even or are already below that and losing ,I wonder if he can name some that are not.

[stevea171] 06/8/2015 15:25

Chris Conway, head of research at Australian Stock Report has a "sell" on Medusa Mining (MML) where June quarter production was in line with forecasts and the company delivered on full-year guidance.
However, he noted that Medusa "remains highly leveraged to the falling gold price" and "could struggle to deliver on guidance in future".

[cp42kx07] 06/8/2015 14:31

Looks like its not just the ASX Aussies that like to be in & out as quick as they can.

[chipperfrd] 06/8/2015 14:14

O/T

Any cricket fans out there?

I can't believe that the Aussies are 60 all out!!!

[chipperfrd] 06/8/2015 13:40

chapv,

I would say that was a given!!

The next thing will be to remove all cash from the financial system - then we are totally stuffed!

Just for reference, here are the current holdings of gold by the major Central Banks:



The last time gold was at a major low it was that financial 'genius' Gordon Brown who managed to get the very lowest prices possible for the tax payer's by setting up several auctions and then replacing the gold with Euro and US$ reserves. So he managed to sell gold before it went up some 8-fold from where he sold it but also managed to swap it for bonds that went in the opposite direction. I am not so sure Osborne will make the same mistake - at least I hope not!
Chip