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If it helps, link still did not work for me but i was able to search YouTube and get
Thanks for your help/efforts
If it helps, link still did not work for me but i was able to search YouTube and getApologies for not responding to your posts and others. I have tried it again with VPN in several domains and without and it runs perfectly. It was posted while in Guernsey or Sark and works in the UK.
It should work if you click, 'watch on Youtube' which is on the screen.
Haven't watched it yet but it might not do us any good if it does happen. The more so if a Labor government is in power. Still remember how Rudd and Swan came out swinging at a press conference declaring, "The Australian people want their fair share" via a resources super profits tax.this happens some miners will see their profit margins rise from US$700 an ounce to over US$24,000 an ounce
All good he sunk it all in Telstra so it worked out wellYesterday's heroes. Peter Costello's sum benefit to the Australian nation would have to be a huge negative taking into consideration this act in 1997. I hope it haunts him, his net worth to Australia is literally negative. He had some advisory help though in Treasury and the RBA . I guess it made him look good in the short term as he delivered his budget. Thoroughly modern. Fkg intellectuals can get it so wrong.
In November 1997 the then Treasurer, Peter Costello, shocked some people when he announced he'd signed off on the sale of $2 billion worth of Australian bullion. On the day he announced the sale the price was around $US306.00 an ounce. At the time, according to Mr Costello, gold "no longer plays a significant role in the international financial system".
Three days after the bullion was sold Australian gold shares slumped 16 per cent. With gold languishing there were more than a few people within government and the Reserve Bank congratulating themselves on such a prescient sell off.
But no-one else seemed to be selling, certainly not the US, and Robert Champion de Crespigny at the time expressed concern about Australia's ambitious move. The then executive chairman of Normandy Mining, Australia's largest gold mining group said:
"I think the Reserve bank has handled this extremely clumsily". Gold, he said, had a future if you took a long term view.
So here it was 1997 and Australia had sold two thirds of its gold assets in a single day, and sold into a buyer's market.
While the sale helped pay down debts, the deal was to cost Australia billions of dollars in the long run. But at the time people were lining up to congratulate the Treasurer.
Bill Shields who was with the Reserve Bank and who went on to become Macquarie Bank's chief economist seemed to echo the Federal Treasurer's words. He said he thought the gold price would remain under pressure and depending on how supply responded it could fall lower.
Gold, he said "no longer has a role in the monetary system and with low inflation it is an unattractive investment relative to interest bearing securities and equities".
While that sentiment was certainly shared in the plush offices of bankers in Australia, it wasn't on the minds of China's money men.
Two years after Australia's Government sold off two thirds of the nation's bullion, China made a startling admission. Over six years it had quietly bought 454 tonnes of gold (presumably some of it was Australia's)."
Worth its weight in gold
It wasn't that long ago gold was on the nose, especially in Australia, but now, everyone wants it.www.abc.net.au
It was a sarcastic joke , doesnt matter where it went , it wasnt going to 10 bag like gold hasWell it didn't go to reducing debt but nothing about Telstra either? The RBA got to keep the proceeds which were invested in sovereign bonds.
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Spitznagel is quite in the news and financial commentary atm. His modus operandi is to take many, many small bearish losses waiting for the one options mis-pricing in a bull market and a big bear bet. Well worth a duckduckgo.https://markets.businessinsider.com/news/stocks/stock-market-bubble-close-to-bursting-mark-spitznagel-black-swan-2024-7
Jul 19, 2024
"Mark Spitznagel, a bearish investor, predicts stocks may soon lose over half their value in a sell-off.
He says a recession could happen by the end of the year, fueled by the US Government's $34 trillion debt."
https://markets.businessinsider.com/news/stocks/stock-market-bubble-close-to-bursting-mark-spitznagel-black-swan-2024-7
Jul 19, 2024
"Mark Spitznagel, a bearish investor, predicts stocks may soon lose over half their value in a sell-off.
He says a recession could happen by the end of the year, fueled by the US Government's $34 trillion debt."
once a decade with the right amount of profits ( to cancel all the wrong bets ) is all you needSpitznagel is quite in the news and financial commentary atm. His modus operandi is to take many, many small bearish losses waiting for the one options mis-pricing in a bull market and a big bear bet. Well worth a duckduckgo.
He is bearish always. And as he has proven he only needs to be right once every 5-10 years or less.
gg
You're right. The key to growing wealth over time isn’t just relying on the appreciation of an asset, but also on the income it generates. In the case of land, by leasing it, you earn rental income, which can be reinvested to purchase more land. This creates a compounding effect, not just from the land’s value increasing, but also from the income it generates. Gold, on the other hand, doesn’t produce income directly unless it's part of a gold-backed investment or used productively. While gold can protect against inflation, it doesn’t inherently generate cash flow. This is why many wealthy individuals, including the Royal family, diversify their holdings with income-producing assets like land, businesses, and real estate, rather than relying solely on gold. By combining assets that grow in value and generate income, they ensure long-term financial sustainability.An item doesn't have to grow to compound, it just has to throw off income that can be used to buy more of that item.
For example, if you owned a piece of land that you leased, you would get all the inflation protection you would get from owning a similar value of gold, however every year it throws off some income you can reinvest to grow your land holding.
So after 20 years you own not just the original piece of land, your total land holdings have probably doubled, essentially you owned an ounce of gold that turned into 2 ounces.
There is a reason the Royal family owns land and other assets in their estates that support them noble gold skool review, if they just owned gold they would have been broke centuries ago.
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