Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: TobagoJack who wrote (157350)	5/1/2020 2:40:33 AM
From: sense	2 Recommendations Recommended By dvdw© pak73 Respond to of 218167

Scotiabank put its gold business up for sale in 2017 in the wake of a scandal surrounding Elemental, a precious metals refinery in Texas, the Financial Times reported, with Chinese buyers rumoured to be key targets for the aquisition. What a crazy way to end the article... Just leave that hanging... So, I take it the hoped for deal with buyers didn't come through... and now they're just shutting it all down rather than trying to sell it... But Scotiabank is still one of the top 3 metals traders... with a still significant backlog in "trades" that haven't worked out... ? You can't just "close" the business without somehow addressing the accumulated liabilities... unless what they're doing is continuing to carry the liabilities... and just quit making new ones ? In order to understand "the news" these days.... you have to already understand the story they're not willing to tell you... in order to make sense of the one they do tell you.

To: TobagoJack who wrote (157350)	5/1/2020 2:50:09 AM
From: sense	Respond to of 218167

CME Group Inc. CME, -1.79% disclosed Thursday that it agreed to an amendment that gives the commodity exchange company a $7 billion multi-currency credit facility. The company said the 364-day amended facility is intended to provide liquidity "in the event of [1] a clearing member default," [2] a liquidity constraint or [3] depositary default, or in the event of [4] a delay in the payment systems utilized by CME. ,"... I'll just note that SLV's total assets (Yahoo says) are 5.51 billion... Probably worth parsing the four separate "risk factors" more carefully.... And, more sloppy journalism: "agreed to an amendment that gives the commodity exchange company..." An amendment... to what... that was agreed to... with who ? Who is driving the change... and who is providing the "facility" ?

To: TobagoJack who wrote (157350)	5/1/2020 3:23:03 AM
From: sense	2 Recommendations Recommended By pak73 THE ANT Read Replies (1) \| Respond to of 218167

The problem with the dollar-dominated monetary system, he said, was that it left countries vulnerable to potential U.S. sanctions and Washington’s power to freeze a nation’s international assets in the event of a dispute. “It is a weapon for the U.S., but a source of insecurity for other countries,” Wang said. “The currency the world ultimately chooses for global trade must not be one that gives someone privilege, while exposing others to insecurity.” The difficulty is... being unhappy with a disadvantage you have created for yourself by debasing your currency more than others... isn't a sufficient cause to empower a change... "just because". It's like a spoiled teen, unhappy that Dad has cut off their allowance... declaring that in result they've decided to simply start issuing themselves their own allowance... Yeah ? OK. Have at it... Other nations, similarly, carp about the dollar... but when it comes down to it... they are totally unwilling to change any of what has to change for them to BE ABLE to create a viable alternative... As far as "a new super-sovereign currency to offset the global dominance of the U.S. dollar, which he predicted would decline long term" its just fundamentally dishonest... The dollar ALREADY is in a massive long term decline ? It's lost 97% of its purchasing power in less than 100 years ? So the issue is... as bad a history as the dollar has... every other currency is still VASTLY WORSE ? And, there's nothing stopping anyone from simply implementing policies that work to strengthen their own currency relative to others ? But, you won't EVER see anyone actually doing that ? Instead, they're trying to pretend that they'll just invent a new currency... that magically solves all their problems... without them having to change anything ? The "new" being invented... is essentially a declaration of failure and default... by those unwilling to acknowledge that it is their own currencies (and their own policies) that are failing them, and not the dollar that is the problem ? Fictions about a "gold peg" won't fly either... as without convertibility no one will value "promises" to deliver gold... which is why the gold and silver markets are where they are now... ? Otherwise... the dollar system has value... because of its values. If you're unhappy with that... when the enforcement of policy tied to those values is a problem for you... why would you think inventing a new currency that is purposed to enable NOT adopting policy that enables value... would create value ?