Medusa Share Discussion Threads

[stevea171] 15/9/2015 00:07

Re a possible listing of Medusa on the Hong Kong SE. In theory this sounds like a good idea but in practice it would be likely to bring the company to the attention of more HK and Chinese investors via a local listing and daily quote.

At these prices a takeover would be little more than chump change for many wealthy Chinese individuals and companies so I cannot say I would be in favour.

Imo the return of a London listing should be instigated next year as soon as the company has extricated itself from the tight finances that currently apply.

[stevea171] 14/9/2015 23:41

A Flock Of Black Swans
by Tyler Durden on 09/14/2015

The cloud on the horizon is a flock of black swans. No one can predict when they might land. What can be said for certain is that, at some point, they most certainly will.

What will happen will be a sudden and unseen event - a trigger that suddenly sends the economy downward, followed by another, then another, as the economy tumbles inexorably downward.

Along the way, emergency measures will be utilised to “save” the economy. They will be drastic, including confiscation of bank deposits, plus massive money creation. There will be dramatic inflation and very possibly, hyperinflation.

But the collapse will continue, unstoppably. Like any house of cards, once it begins to actually fall, no further Band-Aids will stop the inevitable.

So, what might that trigger be?

Well, there is literally no one in the world who might predict that with certainty. The reason is that as so many Band-Aids have been used by so many countries in so many areas of the economy, no one can say which one will fail first: which one will be the actual trigger that causes the chain reaction.

I believe that we are now closing in on that time. The house of cards is becoming evermore fragile and we will not need to wait much longer before the event occurs. As we get closer, increasing numbers of people are seeing the writing on the wall and, more and more, I’m being asked the same two questions.

“What Will the Fatal Trigger Be?”

Here’s a brief list of possible triggers:

Creditors dump US debt back into the US market
Commodity prices spike
A crash occurs in the stock or bond market
A backlash occurs from countries sanctioned by the US
European countries default on their debt
The US dollar ends as the petrocurrency (causing a sale in US treasuries)
The US or EU introduce significant tariffs, diminishing world trade
Interest rates rise, as they did in 1929
The paper gold market crashes, when the shortage of physical gold is revealed
Banks freeze or confiscate deposits
FATCA accelerates the demise of the US dollar as the default currency
A credit collapse occurs (followed by dramatic inflation or hyperinflation)

Any of the above is capable of triggering a collapse (and, as stated, this is not by any means an exhaustive list). Therefore, it would be wise to keep an eye out for indicators that one of them may occur. Any one of them that appears to be nearing the point of becoming a reality would suggest that the tipping point may occur soon.

[stevea171] 14/9/2015 23:07

More banks in trouble?
Today: Deutsche Bank, Germany's biggest bank announces 25,000 staff (25%) to go.
Also today, Unicredit, Italy's largest bank by assets announces 10,000 staff to go.
Too little, too late?

When is the whole corrupt Western banking system going to destruct?

I have always thought Deutsche Bank is a prime candidate for being first in line of the mega banks for collapse and to take Barclays and others down with it. So I closed my stockbroking account with Barclays last year.

In the event of a collapse, full FSCS protection may not apply (see below) and was in any case reduced to £75k in January.

"Paul Tucker, Bank of England Deputy Governor stated that ‘it is not enough to have just a Deposit Guarantee Scheme’ to save a major bank. He went on “if the losses are vast enough, then the haircuts imposed by the resolution authority can in principle permeate to any level of the creditor stack. In the case of insured deposits, that means Deposit Guarantee Schemes (DGS) suffering losses”."

So what happens when the derivitives time bomb blows up?

Financial Meltdown and the Confiscation of Bank Savings: The UK-EU Bank Depositor “Bail-In”; Scheme
By Graham Vanbergen Global Research, September 14, 2015

The lessons from the Bank of England and EU plan and from Cyprus and Greece are essentially that depositors will not get any notice that their bank is about to be bailed in. The bail-in would probably happen during a weekend it would not re-open on the following Monday. Capital controls would be imposed on the country’s banks during the bail-in and for a lengthy follow-on period.

From January 1st 2015, Britain’s Financial Services Compensation Scheme (FSCS), that protects £85,000 per person per institution was reduced to £75,000, under the absurd pretence of the strength of the pound. So absurd was this move that it caused considerable suspicion as to its motives. The Bank of England has just reduced bank liabilities and integrated the depositor bail-in scheme at a reduced level. One has to ask – Why?

hxxp://www.globalresearch.ca/financial-meltdown-and-the-confiscation-of-bank-savings-the-uk-eu-bank-depositor-bail-in-scheme/5475934

[arja] 14/9/2015 14:18

seems so dekai and no idea what might trigger a meaningful recovery for gold - so many false dawns. seems a long time since MML was a great stock to trade when in that uptrend . It is the reason I still keep an eye on it in hope those times might return . BKL is my favourite trading stock here as a rapid mover .

[deka1] 14/9/2015 08:42

Hi arja , for the producers its all about the gold price now, till its allowed to rise things will be very difficult for them all.

[arja] 14/9/2015 08:35

hit 37 today before the nice bounce and 37 is a chart support way back .

[stevea171] 11/9/2015 10:15

Retail Silver Market Has Seized Up-David Morgan
September 9, 2015 By Greg Hunter’s USAWatchdog.com

Silver expert David Morgan says prices of the white metal may be low, but demand is huge. Morgan explains, “I did a survey of many of the top wholesalers and retailers in the country and came to the conclusion that the retail side of the market has basically seized up.

One of the biggest mints in the U.S. is backlogged about 4 million ounces. You have two other main government mints that are basically on halt and not producing, or trying to catch up. You have huge premiums in the silver bar market and extremely high premiums in the silver bag market, or what is referred to in the industry as junk silver. Dealers are paying $5 above spot to source silver bags. What that equates to for the cost of silver is about $19.25 an ounce, and we are in the mid-$14 range for an ounce of silver. So, obviously, there is a huge demand that cannot be met with the current supply in the retail market.”

Morgan also says silver is an inflation adjusted deal. Morgan contends, “The average mining cost used to be about $22 an ounce, but with the oil price dropping, it’s now about $15. In most cases, you are buying it for less than the best producers on the planet can produce it for. . . . We are basically at the same price, using the true money supply, when it was $5 silver in the early 2000’s. So, if you look at all the fiat currency floating around now, and you use that metric, you are buying silver at the same price (inflation adjusted) as you were in the early 2000’s.”

So, why all the demand? It could be fear of what is coming, and Morgan thinks what is coming is the same thing that has happened to Argentina when its currency crashed. Morgan explains, “People lost their bank savings. People lined up in the street and grabbed pots and pans and spoons and go to the banks at lunchtime and, in unison, pound on the bank in protest. People took to the streets. 40% of the middle class became below the poverty line. You could not access your savings. You could go to the bank, but you could only withdraw a certain amount. Sound familiar? It’s exactly what happened Greece. There were many people unemployed and people taking to the streets saying that they were victims of the IMF (International Monetary Fund). . . . The U.S. could turn into Argentina, and I believe it will happen. Why did this happen in Argentina? Overspending–this is the bottom line of why it took place.”

On the Fed raising interest rates, Morgan says, “I think they will, and they are going to show how tough the Fed is and that they do what they say. They are going to raise them a quarter of a point. It’s a very small amount. It’s not like they are going to raise interest rates up to 4% or 5%. That would be devastating, and that is not going to happen.”

The main problem America and the world has is what Morgan calls “the debt bomb.” He says the debt is at the center of the black hole of our problems. Morgan explains, “We are reaching a limit. All systems reach a limit. No tree grows to the sky.”

In March, Morgan predicted September as a time of increasing turmoil in financial markets and thinks it’s downhill from here. On the continuing turmoil, Morgan says, “It will be ebb and flow, but the trend is increasing, increasing and increasing. It will, unfortunately, in my strong opinion, it will get worse before it gets better.”

Join Greg Hunter as he goes One-on-One with David Morgan of Silver-Investor.com.

(There is much more on the video interview.

hxxp://usawatchdog.com/retail-silver-market-has-seized-up-david-morgan/

[stevea171] 11/9/2015 09:45

Dow on course to retest sub 16,000 as per nearly 3 weeks ago?

Next week should be a HUGE test for the system and markets. THE planned crash could be any time from next Monday through to mid Octoberish. There needs to be some trigger event. Could it be a Fed rate rise on Wednesday?

Seems likely that the PM Crimex fraud will run outa gas about the same time ...

The Fed is trapped like a rat with no way out on the economy, interest rates and PM manipulation.

Fund Manager: Physical Silver Market is SEIZING UP!
Posted on September 10, 2015 by The Doc

But the truth of the matter is that they are more than likely reporting numbers they want us to see, not the real numbers. For instance, the silver market is now seizing up from lack of supply. Please see this report from Greg Hunter and David Morgan if you are still skeptical: Retail Silver Has Seized Up.

Yet, the Comex bank custodians are reporting over 51 million ounces of silver available for delivery – LINK. In fact, CNT – an official supplier to the U.S. mint – is showing 13.3 million ounces of deliverable silver. So why is there’s a shortage of silver at the U.S. mint? IF that silver were actually in the vault, the U.S. mint could buy a spot contract – September has a silver contract open – and take immediate delivery.

[arja] 11/9/2015 07:47

fall to 42 today just when it looked as if it was performing a bit better in recent days . friday blues maybe !

[stevea171] 10/9/2015 11:46

BREAKING: SILVER BECOMING SCARCE WORLDWIDE FOR PURCHASE
SEPTEMBER 8, 2015 / JEFF BERWICK / 22 COMMENTS

At some point in the next few years it will become hard or impossible to buy silver or gold in exchange for fiat currencies.

We aren’t at the “impossible221; stage yet but there are signs around the world that silver is becoming difficult to buy and if you can find some the premiums over the spot paper price are extraordinary and rising.

Following my own advice here at The Dollar Vigilante, I decided it was time to buy some more silver recently and I went to the normal places I used to go in Acapulco, Mexico, to buy some. You would think with Mexico being the largest producer of silver in the world that it should be plentiful and easy to find.

I went to Azteca bank, which is where I normally buy and they said they had none. Azteca is owned by Grupo Salinas which is effectively owned by Hugo Salinas Price’s family. Hugo, as many might know, is a multi-billionaire and one of the biggest proponents of silver. He has even tried, without luck, to get silver put back into the monetary system in Mexico.

I then went to another bank and they said they had none but I could order some… but they didn’t know how long until it was received. I then sent my driver to every other place that used to sell silver in Acapulco and none was to be found.

Mr. Salinas Price is a good friend and a nearby neighbor in Acapulco, so I sent him an email asking him what was happening.

He allowed me to reprint his response (bolded parts are added by myself):

hxxps://www.dollarvigilante.com/blog/2015/09/08/breaking-silver-becoming-scarce-worldwide-for-purchase.html

[chipperfrd] 10/9/2015 08:53

Apparently, JPM had it's wrists slapped recently for stuffing sell contracts into the managed money side of the COMEX!

If JPM can deal in contracts from both sides (ie with itself) yet the spot price is set by these deals, then the whole thing is a complete farce!

[chipperfrd] 10/9/2015 08:38

There was another drop in registered gold reported on Tuesday 8th. Gold held fell by 16,740 oz to 185,314 (5.76 tonnes) compared to the c. 1,276 tonnes of open paper contracts! So now it's around 221:1.

[nielsc] 10/9/2015 08:31

Surely if you are holding registered gold now you would be asking to take delivery of your gold now? It is fairly certain that there isn't enough to meet all registered claims.

Is this the start of the run on registered gold?

Cheers,
Niels

[nielsc] 10/9/2015 08:20

4marlin/chipperfrd,

I read something along similar lines on the silver doctors website. I remember the good old days when the leverage of paper to physical to actual was around the 100:1 mark ;-)

Won't take many to ask for delivery of physical to see things getting shaken up!

Are you sure you have a space on one of the Titantic lifeboats....

Cheers,
Niels

[deka1] 10/9/2015 07:54

Chip hi, and the rest of the world keeps on letting it happen,WHY ? because the rest of the world wants cheap gold,the barbarous relic is in demand everywhere except y the Yankers,what will happen when the ratio is over 300 or 500 times the supply , its utter madness.

Yaknow when the biggy comes along , and everything goes to hell in a hand cart its gona be a massive turn around for the PMs imo.

[arja] 09/9/2015 23:24

thanks Atlantic - I can believe it and certainly MML is not alone . MML picked up a bit in recent days but gold price fell overnight OZ time on $US strength and might struggle today - but markerts can surprise !

[atlantic57] 09/9/2015 20:00

Well blue you have done better than me !
I think my statistics would be.

Loss of own capital nil
Loss of gains at the market peak 90 %

I can't call the bottom it may go lower.
The elephant in the room remains government debt.
Surely at some point the market will recognise this and gold will have its day.
All the best

[bluelynx] 09/9/2015 19:22

Atlantic

Not done that well at all, I sold half my gold miners at the peak of 2011 so that heiped. But now, having slowly reinvested back into PM miners I am hoping the bottom is very close. If the decline continues it will be painful and I will have been a very silly billy! LOL.I guess I am now down 15% on my own capital plus 15 years of interest....so not too clever really.

All the best.

[4marlin] 09/9/2015 19:15

just nuts.

I am starting to buy physical (more silver than gold) in addition to a few of the beaten down juniors.

[chipperfrd] 09/9/2015 19:13

4marlin

Funny you should post that as I had just been working out the numbers myself and was about to highlight the result.

ie. COMEX registered oz (gold) on 4th September = 202,055 (6.28 tonnes).

But open interest on 1st September stood at 410,274 100oz contracts = 41,027,400 oz (1,276 tonnes).

So there is a totally ridiculous situation existing whereby the quantity of outstanding paper-traded gold is some 203x the actual available physical metal held by the exchange!

Chip

[atlantic57] 09/9/2015 16:21

Blue lynx below is a quote from a newsletter i take,


the losses miners have taken since their peak are incredible, with the top 10 miners in the world having lost nearly 90 percent of their value and a whopping $540 billion of shareholder equity.


This underlines how well you have done ( no sarcasm intended)

[atlantic57] 09/9/2015 15:27

Arja below is a quote from a newsletter i take,


the losses miners have taken since their peak are incredible, with the top 10 miners in the world having lost nearly 90 percent of their value and a whopping $540 billion of shareholder equity.

[arja] 07/9/2015 23:29

with gold priced in $US , needs the dollar to weaken for a start . I assume the cost of production is in $US which hurts the bottom line kf an aussie based company . Yes deka1 , even the aussie blue chip gold stock NCM has had a hard time

[deka1] 07/9/2015 16:28

Alantic, Wall st to disappear down a sink hole.