20 days ago
UK Government borrowings are now at almost 100% of GDP. That should be a sort of ceiling if we do not want to go down the Greek path to bankruptcy. So if the state wants to spend more it must raise taxes which are already at a 70 year high. One group of public sector workers who think they should earn more, paid for by folks who – on a mean average basis – earn far less than them paying more tax, are the junior Shipmans. Meet James who is 28 and explains his financial woes to this week’s Investor’s Chronicle as you can see below.
1678 days ago
I have been greatly distracted today. In part by some ludicrous piffle from Brokerman Dan, I explain why he is deluded. More importantly there is the growing sex and physical abuse scandal at my old school Warwick as I explained earlier today HERE. Today I have spoken to a second sexual abuse victim and been contacted by the new Head Master. Maybe something will happen. On the markets I look at First Derivatives (FDP), Angus Energy (ANGS), Purplebrocks (PURP) Totally (TLY) where Stevie Wonder could see that it is placing ahoy and Goldplat (GDP)
1773 days ago
First of all thanks for all the kind comments on the Woodlarks walk. The final photos and my final thoughts are HERE. It is not too late to donate HERE and that is what David Lenigas should do now as he gets his twitter knickers in a twist over his pre-placing tweets on UK Oil & Gas (UKOG). He now says on twitter he was an insider -in the US that would be a perp walk admission. The shameless old ramper is now batting for Angus Energy (ANGS). Elsewhere I cover Optibiotix (OPTI) and the odd Midas call, Wolf Minerals (WLFE), N4 Pharma (N4P), Arden Partners (ARDN) and Goldplat (GDP). Back to Woodlarks: next year I seek volunteers to join the 4 rogue bloggers. I now have 4 (PR genius Steffi, daughter Olaf, my pal the Euro loon Jonathan Price and Steve Moore), if you are up for it email [email protected]
2265 days ago
Goldplat (GDP) has announced that it has secured a $2 million short term debt facility from Scipion Capital. The loan is structured as a revolving pre-export facility and is available for 360 days from first drawdown. Interest is LIBOR plus 9.5%pa and repayment and interest are due monthly. Security on the drawn amounts has been granted over GDP’s South African tailings facility. This has prompted house ( thus not impartial) broker VSA to increase its target price by 9% and thus it claims that the shares, at 7.375p offer 63% upside.
2435 days ago
We all have opinions about what might happen and no-one can prove that your opinion on the future is wrong.The sun will rise tomorrow is an opinion. I suspect few would disagree with it but since it is in the future not the past it is not a fact. Facts (a word derived from the Latin for it has happened) are a different matter. But not it seems if you are a nutty Euro loon who cannot accept the Brexit vote. Meet Petra Mason who has a degree in behavioural ecology and is into pottery and tweeting gibberish.
Petra served up this tweet.
2437 days ago
There are two parts to this bearcast. First I look at Government Debt and GDP over the past 8 years in the UK , France, the US and Greece and where all four are heading - it will startle those like Jeremy Corbyn, Chancellor Hammond and Malcolm Stacey who still believe in the money tree. Then I look at the great sell indicator that is a broker buy note and explain why.
2500 days ago
You know that libertarian gold bug Peter Schiff is a major hero of mine. In his latest video he shows how real GDP growth is negative, it is collapsing. And that has profound implications for all of us on both sides of the pond. This is cracking stuff from Schiff. Yes we really are in recession already!
2501 days ago
Every day I receive at least one text message or email from either Comrade Corbyn or Comrade Smith as they each seek my support to become the man to take Labour over an electoral precipice. For as each day goes on they make promises that are more and more insane.
2641 days ago
Do you believe official Chinese data on economic growth? No, neither do I. But you are seeking a reliable indicator well here it is - growth in the sale of lavatory seats. I kid you not. A leading broker explains.
2663 days ago
It is suggested that Susie Geliher, a fragrant PR bird at St Brides may have been a tad indiscreet in her communications about her client Goldplat (GDP) which reports on Monday - see HERE. Having chatted to her last night, I think she was a little naughty and may have inadvertently breached an AIM rule but she is not an insider dealer as has been suggested and is NOT the real villain of the peace. Let me explain.
2663 days ago
Oh dear, Surely not any more scandal on the world's most successful growth market that is the 100% rigged AIM Casino. Oh yes...I fear that is the case. Step forward the St Brides PR agency and Goldplat (GDP).
The IKN Blog which specialises in South American mining stories has got hold of emails from Susie Geliher a senior PR bird at St Brides to selected investors sent last week. According to IKN:
2672 days ago
Warning: This podcast contains a lot of bad language and images of a sexual nature. As far as I understand it, Sweden is known for the fact that 95% of its population enjoy thrashing the naked buttocks of other folk's partners at the weekend. But it is not this that concerns me but its insane Central bank which has cut interest rates again ... to minus 0.5%. I reflect on this madness and the insanity of Janet Yellen of the Federal Reserve and then on the gold price. I look at a few gold stocks racing ahead wrongly ( Condor (CNR), Goldplat (GDP) and Patagonia Gold (PGD)) and at others I might buy. I comment on the insane dead cat bounce at Motive TV (MTV) and on the odd behaviour of crony capitalist PR man Reg Hoare of TrakM8 (TRAK) and explain why its shares are still a sell. Then it is onto the deadlines for Solo Oil (SOLO) and LGO Energy (LGO) going under as Neil Ritson tries his hand at Leni-Maths. And I also have a trivial pursuit question for you all.
3292 days ago
The big news for libertarians, like me, last week was that vice (drugs and prostitution) look set to be included in how we calculate GDP in the UK. Apparently they are worth a combined £10 billion to the UK each year. You can from that number make a number of assumptions.
1. The vast amounts the State spends trying to tackle these crimes is not working and is money wasted.
2. There are very few rich hookers or drug pushers (the actual distributors) and since the non-labour cost of sales is very low (drugs are cheap as a raw commodity and condoms and a bit of advertising cost sod all) you can assume that organised crime is raking in billions a year.
So please can anyone explain why the current system ( which brings endemic health risks for many, a tab the State then picks up) can be said to work?
3293 days ago
Actor Hugh Grant is, as you may remember, keen to gag the press so that it cannot run stories about how he used to get blow jobs from hookers in Los Angeles. But in the UK it appears that we are now going to include prostitution in how we calculate our Gross Domestic Product. As such it is surely a valid question to ask how much Mr Grant has contributed to US economic growth over the years?
As such the “Divine” picture below is totally relevant and I invite you to suggest a suitable caption for it. Please post your captions in the comments section below.
For what it is worth my entry is:
3965 days ago
For some reason I keep thinking of the Dead Kennedys’ classic “Holiday in Cambodia” as I prepare for a trip across the straights of Corfu early next week. If you cannot remember the number/never heard the tune, it will not appeal to all, but you can listen below.
If you cannot make out the lyrics it is this verse to which I refer (although the two that follow on the nature of work are pretty good)
“ It’s time to taste what you most fear
Right guard will not help you here
Brace yourself, my dear
It’s a holiday in Cambodia
It’s tough, kid, but its life
It’s a holiday in Cambodia
Don’t forget to pack a wife”
Of course Albania has moved on from the days of good old Enver Hoxha when machine gun posts on the border were there to keep people in, rather than out.
3969 days ago
Today’s UK GDP numbers are disastrous for George Osborne. Folks do not expect to like Tory chancellors (except perhaps Ken Clarke in his fat, cigar smoking and whisky drinking pomp) but they expect them to be competent. Osborne is now going to be the chancellor who sees the UK lose its AAA rating and it is going to happen soon.
That we still have this rating is a joke. Somehow Osborne has managed to persuade us all that he is curbing Government spending ( he is not it is rising in actual terms, in real terms and per head of population) and that he is tackling the deficit ( he is not) and so getting national debt under control ( he is not). His claims were based on assumptions for growth which were, shall we say, optimistic.