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- #11,601
- May 16, 2023 12:03pm May 16, 2023 12:03pm
- | Commercial User | Joined Dec 2014 | 14,165 Posts
- #11,602
- Edited 12:19pm May 16, 2023 12:06pm | Edited 12:19pm
- | Commercial User | Joined Dec 2014 | 14,165 Posts
MISE EN DEMURE TO: Domenico Meriano
Unless you send an E Transfer to [email protected] within the next 48 hours for $125.00 I will launch a civil lawsuit in Superior Court for $125,000.00 !!!
PLEASE MAKE MY DAY, DOMENICO !!!
ACCOUNT SUMMARY
Beginning Balance0.00
RolloverRollover Fee-2,509.83
PnLProfit/Loss of Trade63,533.51
DeposDeposit50,000.00
Ending Balance111,023.68
Floating P/L-30,409.84
Equity80,613.84
Necessary Margin19,875.00
Usable Margin60,738.84
Necessary Margin (Maintenance)79,500.00
Usable Margin (Maintenance)1,113.84
Notes:
"THIS IS A DEMO ACCOUNT WHICH IS TRADED WITH VIRTUAL FUNDS. NO REAL MONEY IS USED IN TRADING THIS ACCOUNT. Demo accounts are used primarily for education purposes, testing of strategies, and familiarizing traders with market movement and the FX Trading Station. There are inherent risks associated with online trading that may arise due to downtime, currency fluctuation and other risks associated with currency speculation. Only risk capital should be used when trading a real account."
IN LESS THAN FOUR MONTHS FROM JANUARY 23. 2023 to MAY 16, 2023 DOMENICO through my teaching helped him to bring his $50,000 US Funds account to over $111,000.00 US Dollars.
Now this extremely foolish man a friend of over 15 years is actually looking for someone to trade for him.
HOWEVER HE HAS A LEGAL DEFENCE JUST LIKE MR IRWIN MILLER... They are both well off financially except they are both Bi Polar Manic...
Best regards
Bruce Warren Margolese
Unless you send an E Transfer to [email protected] within the next 48 hours for $125.00 I will launch a civil lawsuit in Superior Court for $125,000.00 !!!
PLEASE MAKE MY DAY, DOMENICO !!!
ACCOUNT SUMMARY
Beginning Balance0.00
RolloverRollover Fee-2,509.83
PnLProfit/Loss of Trade63,533.51
DeposDeposit50,000.00
Ending Balance111,023.68
Floating P/L-30,409.84
Equity80,613.84
Necessary Margin19,875.00
Usable Margin60,738.84
Necessary Margin (Maintenance)79,500.00
Usable Margin (Maintenance)1,113.84
Notes:
"THIS IS A DEMO ACCOUNT WHICH IS TRADED WITH VIRTUAL FUNDS. NO REAL MONEY IS USED IN TRADING THIS ACCOUNT. Demo accounts are used primarily for education purposes, testing of strategies, and familiarizing traders with market movement and the FX Trading Station. There are inherent risks associated with online trading that may arise due to downtime, currency fluctuation and other risks associated with currency speculation. Only risk capital should be used when trading a real account."
IN LESS THAN FOUR MONTHS FROM JANUARY 23. 2023 to MAY 16, 2023 DOMENICO through my teaching helped him to bring his $50,000 US Funds account to over $111,000.00 US Dollars.
Now this extremely foolish man a friend of over 15 years is actually looking for someone to trade for him.
HOWEVER HE HAS A LEGAL DEFENCE JUST LIKE MR IRWIN MILLER... They are both well off financially except they are both Bi Polar Manic...
Best regards
Bruce Warren Margolese
- #11,603
- Edited 7:54pm May 16, 2023 7:36pm | Edited 7:54pm
- | Commercial User | Joined Dec 2014 | 14,165 Posts
https://finviz.com/futures_charts.ashx?t=YM&p=i5
ACCOUNT SUMMARY
Beginning Balance 0.00
Dividend -1,020.00
Rollover Fee 671.00
Profit/Loss of Trade 11,299.00
Deposit 50,000.00
Ending Balance 60,950.00
Floating P/L 0.00
Equity 60,950.00
Necessary Margin 0.00
Usable Margin 60,950.00
Usable Margin (Maintenance)60,950.00
THIS DEMO ACCOUNT WAS OPENED ON APRIL 21, 2023, 26 days ago and I did 26 Forex trades and all were winning Forex trades and now the new balance is $60,950.00 US dollars or 22% net profit in less than one month.
I AM THAT DARN GOOD !!!
Bruce Warren Margolese
President CEO Principal Forex trader and teacher
WWW.AVIELFOREXLEARNINGEDGE.COM
- #11,604
- May 16, 2023 7:57pm May 16, 2023 7:57pm
- | Commercial User | Joined Dec 2014 | 14,165 Posts
https://www.zerohedge.com/markets/vo...banking-system
Von Greyerz & Macleod: Insights On The Rotten State Of The Banking System
https://zh-prod-1cc738ca-7d3b-4a72-b.../picture-5.jpg
by Tyler Durden
Tuesday, May 16, 2023 - 08:25 PM
In this discussion between Egon von Greyerz and Alasdair Macleod, on the state of the current banking system and the importance of gold, the speakers express concerns about the system’s eventual collapse due to the excessive creation of “funny money.”
They suggest that gold is the only currency to have survived throughout history and is thus essential for long-term wealth preservation.
Egon and Alasdair also discuss the role of gold in the currency crisis and predict an eventual panic into gold.
Moreover, they stress that the value of gold should not be measured in worthless, fiat money and that higher gold prices are necessary to meet future demand.
Finally, they caution against wishing for the gold price to go up, as it would decrease the quality of life.
Watch the full interview below:
Timestamps:
Von Greyerz & Macleod: Insights On The Rotten State Of The Banking System
https://zh-prod-1cc738ca-7d3b-4a72-b.../picture-5.jpg
by Tyler Durden
Tuesday, May 16, 2023 - 08:25 PM
In this discussion between Egon von Greyerz and Alasdair Macleod, on the state of the current banking system and the importance of gold, the speakers express concerns about the system’s eventual collapse due to the excessive creation of “funny money.”
They suggest that gold is the only currency to have survived throughout history and is thus essential for long-term wealth preservation.
Egon and Alasdair also discuss the role of gold in the currency crisis and predict an eventual panic into gold.
Moreover, they stress that the value of gold should not be measured in worthless, fiat money and that higher gold prices are necessary to meet future demand.
Finally, they caution against wishing for the gold price to go up, as it would decrease the quality of life.
Watch the full interview below:
Timestamps:
- 0:00 Introductions
- 0:42 This weeks news – Banking collapse
- 2:32 Derivatives
- 3:07 What’s keeping the gold price high?
- 12:10 Property rights
- 13:30 What role does gold play
- 19:57 Gold price
- 22:44 Influx of wealth preservation
Inserted Video
Disliked{quote} Sabbath Shalom I apologize for the dishonesty of thickpipe. He has issues that I do not understand. I have spend a tremendous amount of my time teaching him. He as not paid one cent as yet . He has NO WORD. He has failed the course even if his number are great. HE does not post here. He has caused me great frustration. I will start teaching you myself next week from May 15, 2023 to August 15, 2023. Bruce Warren MatgoleseIgnored
- #11,607
- May 17, 2023 1:26am May 17, 2023 1:26am
- | Commercial User | Joined Dec 2014 | 14,165 Posts
Disliked{quote} You promised to start teaching from May 15, I am waiting for my first day of the class.Ignored
You do not have the skills needed to be a Forex trader. You have been instructed many times what to do. You are not able to think for yourself. You do not invest at least one hour a day. You need to move on to other things as you do not have discipline. Please do not take my comments personally. I have known you for many many years so I can say what I just said. Your feedback is welcome.
Be safe Be well.
Bruce
- #11,608
- Edited 2:02am May 17, 2023 1:50am | Edited 2:02am
- | Commercial User | Joined Dec 2014 | 14,165 Posts
https://dailyreckoning.com/the-creat...jekyll-island/
https://dweaay7e22a7h.cloudfront.net...nd-650x360.jpg
https://dweaay7e22a7h.cloudfront.net...BrianMaher.jpg
By Brian Maher
May 16, 2023
The Creature From Jekyll Island
The New Jersey railway station was bitterly cold that night. Flurries of the year’s first snow swirled around street lights. November wind rattled roof panels above the track shed and gave a long, mournful sound among the rafters…
At a gate seldom used at this hour of the night was a spectacular sight. Nudged against the end-rail bumper was a long car that caused those few who saw it to stop and stare.
Its gleaming black paint was accented with polished brass hand rails, knobs, frames, and filigrees. The shades were drawn, but through the open door, one could see mahogany panelling, velvet drapes, plush 4 armchairs, and a well stocked bar. Porters with white serving coats were busying themselves with routine chores…
[An] elite group of financiers was embarked on a thousand-mile journey that led them to Atlanta, then to Savannah and, finally, to… the Sea Islands that sheltered the coast from South Carolina to Florida…
One such island… had recently been purchased by J.P. Morgan and several of his business associates, and it was here that they came in the fall and winter to hunt ducks or deer and to escape the rigours of cold weather in the North. It was called Jekyll Island…
The purpose of this meeting on Jekyll Island was not to hunt ducks. Simply stated, it was to come to an agreement on the structure and operation of a banking cartel. The goal of the cartel, as is true with all of them, was to maximize profits by minimizing competition between members, to make it difficult for new competitors to enter the field, and to utilize the police power of government to enforce the cartel agreement. In more specific terms, the purpose and, indeed, the actual outcome of this meeting was to create the blueprint for the Federal Reserve System.
These verses open The Creature From Jekyll Island, a literary work published originally in the year 1994. Investigative journalist G. Edward Griffin was its author.
The Creature From Jekyll Island
To this day your editor retains a copy of The Creature From Jekyll Island, years ago purchased.
He opens it when in need of light upon some mystery of the Federal Reserve. This occurs with certain regularity.
It is a dog-eared copy. It is a dishevelled, dishevelled and disintegrating copy. It is — in brief — a disgrace.
Yet we cherish it. We cherish it because it penetrates the veiled and enshrouded origins of the Federal Reserve System under which we presently languish.
https://images.ctfassets.net/vha3zb1...-05-16-23.jpeg
The Creature Is Hatched
The Daily Reckoning presently descends upon Jekyll Island, a barrier island jumping distance from Georgia’s southeast coastline.
It is the very site where a gang of grandees hatched the Federal Reserve itself in the late autumn of 1910… some 113 years distant.
These financial men included, as Mr. Griffin notes:
Nelson W. Aldrich, Republican “whip” in the Senate, Chairman of the National Monetary Commission, business associate of J.P. Morgan, father-in-law to John D. Rockefeller, Jr….
Abraham Piatt Andrew, Assistant Secretary of the United States Treasury…
Frank A. Vanderlip, president of the National City Bank of New York, the most powerful of the banks at that time, representing William Rockefeller and the international investment banking house of Kuhn, Loeb & Company…
Henry P. Davison, senior partner of the J.P. Morgan Company…
Charles D. Norton, president of J.P. Morgan’s First National Bank of New York…
Benjamin Strong, head of J.P. Morgan’s Bankers Trust Company…
Paul M. Warburg, a partner in Kuhn, Loeb & Company, a representative of the Rothschild banking dynasty in England and France, and brother to Max Warburg who was head of the Warburg banking consortium in Germany and the Netherlands.
A Place Out of Time
The resort itself is a splendid affair, executed in the grand manner.
It suggests an era long extinct and extinguished. It suggests an era as removed from the present day as civility and decorum are removed from the present day.
In brief, it suggests an era of a higher elegance, of a greater gentility.
https://images.ctfassets.net/vha3zb1...-05-16-23.jpeg
https://images.ctfassets.net/vha3zb1...-05-16-23.jpeg
https://ads.agorafinancial.com/www/d...&cb=c70c921f29
https://images.ctfassets.net/vha3zb1...-05-16-23.jpeg
https://images.ctfassets.net/vha3zb1...-05-16-23.jpeg
Kardashian’s America — or Gatsby’s America?
In the outdoor spaces enveloping the central clubhouse, murmuring of antique band music from the 1920s come drifting in.
They are piped in by audio speakers inconspicuously situated. Here they mingle with easy winds teased in from the Atlantic Ocean.
The scene soothes and warms a man. It mellows him.
Is this Kardashian’s America — or Gatsby’s America?
A fellow may be forgiven for believing he has detoured into Gatsby’s America… however fleetingly, however briefly.
He is momentarily wobbled.
In this setting the spectacle of visitors lolling about in flip-flopped shoe-wear and backwards-facing baseball caps seems strangely… inappropriate.
Yet the spectacle is on rich display.
Imagine a mudder in a stallion’s stable. Imagine a jaybird in an eagle’s nest. Imagine a president of the United States on a throne.
Now you have something of the flavor of it. It is out of step.
But let it pass. Let us return to the central purpose of our visit…
Conceived in Secrecy
We have established camp upon Jekyll Island, Georgia to direct a spotlight upon the Federal Reserve itself — its secret origins in particular.
Do we stretch the facts by labelling the Federal Reserve’s origins “secret?”
We do not believe we do, no.
We have it on the highest authority — the above-said Frank A. Vanderlip’s, president of the National City Bank of New York — that the Federal Reserve was in fact conceived in secrecy.
Conceded this fellow in 1935:
Despite my views about the value to society of greater publicity for the affairs of corporations, there was an occasion, near the close of 1910, when I was as secretive — indeed, as furtive — as any conspirator…. I do not feel it is any exaggeration to speak of our secret expedition to Jekyll Island as the occasion of the actual conception of what eventually became the Federal Reserve System…
We were told to leave our last names behind us. We were told, further, that we should avoid dining together on the night of our departure. We were instructed to come one at a time and as unobtrusively as possible to the railroad terminal on the New Jersey littoral of the Hudson, where Senator Aldrich’s private car would be in readiness, attached to the rear end of a train for the South…
Once aboard the private car we began to observe the taboo that had been fixed on last names. We addressed one another as “Ben,” “Paul,” “Nelson,” “Abe” — it is Abraham Piatt Andrew. Davison and I adopted even deeper disguises, abandoning our first names.
On the theory that we were always right, he became Wilbur and I became Orville, after those two aviation pioneers, the Wright brothers…. The servants and train crew may have known the identities of one or two of us, but they did not know all, and it was the names of all printed together that would have made our mysterious journey significant in Washington, in Wall Street, even in London. Discovery, we knew, simply must not happen, or else all our time and effort would be wasted.
If it were to be exposed publicly that our particular group had got together and written a banking bill, that bill would have no chance whatever of passage by Congress.
Why not? What — precisely — were they concealing up their shirtsleeves?
More tomorrow…
https://dweaay7e22a7h.cloudfront.net...nd-650x360.jpg
https://dweaay7e22a7h.cloudfront.net...BrianMaher.jpg
By Brian Maher
May 16, 2023
The Creature From Jekyll Island
The New Jersey railway station was bitterly cold that night. Flurries of the year’s first snow swirled around street lights. November wind rattled roof panels above the track shed and gave a long, mournful sound among the rafters…
At a gate seldom used at this hour of the night was a spectacular sight. Nudged against the end-rail bumper was a long car that caused those few who saw it to stop and stare.
Its gleaming black paint was accented with polished brass hand rails, knobs, frames, and filigrees. The shades were drawn, but through the open door, one could see mahogany panelling, velvet drapes, plush 4 armchairs, and a well stocked bar. Porters with white serving coats were busying themselves with routine chores…
[An] elite group of financiers was embarked on a thousand-mile journey that led them to Atlanta, then to Savannah and, finally, to… the Sea Islands that sheltered the coast from South Carolina to Florida…
One such island… had recently been purchased by J.P. Morgan and several of his business associates, and it was here that they came in the fall and winter to hunt ducks or deer and to escape the rigours of cold weather in the North. It was called Jekyll Island…
The purpose of this meeting on Jekyll Island was not to hunt ducks. Simply stated, it was to come to an agreement on the structure and operation of a banking cartel. The goal of the cartel, as is true with all of them, was to maximize profits by minimizing competition between members, to make it difficult for new competitors to enter the field, and to utilize the police power of government to enforce the cartel agreement. In more specific terms, the purpose and, indeed, the actual outcome of this meeting was to create the blueprint for the Federal Reserve System.
These verses open The Creature From Jekyll Island, a literary work published originally in the year 1994. Investigative journalist G. Edward Griffin was its author.
The Creature From Jekyll Island
To this day your editor retains a copy of The Creature From Jekyll Island, years ago purchased.
He opens it when in need of light upon some mystery of the Federal Reserve. This occurs with certain regularity.
It is a dog-eared copy. It is a dishevelled, dishevelled and disintegrating copy. It is — in brief — a disgrace.
Yet we cherish it. We cherish it because it penetrates the veiled and enshrouded origins of the Federal Reserve System under which we presently languish.
https://images.ctfassets.net/vha3zb1...-05-16-23.jpeg
The Creature Is Hatched
The Daily Reckoning presently descends upon Jekyll Island, a barrier island jumping distance from Georgia’s southeast coastline.
It is the very site where a gang of grandees hatched the Federal Reserve itself in the late autumn of 1910… some 113 years distant.
These financial men included, as Mr. Griffin notes:
Nelson W. Aldrich, Republican “whip” in the Senate, Chairman of the National Monetary Commission, business associate of J.P. Morgan, father-in-law to John D. Rockefeller, Jr….
Abraham Piatt Andrew, Assistant Secretary of the United States Treasury…
Frank A. Vanderlip, president of the National City Bank of New York, the most powerful of the banks at that time, representing William Rockefeller and the international investment banking house of Kuhn, Loeb & Company…
Henry P. Davison, senior partner of the J.P. Morgan Company…
Charles D. Norton, president of J.P. Morgan’s First National Bank of New York…
Benjamin Strong, head of J.P. Morgan’s Bankers Trust Company…
Paul M. Warburg, a partner in Kuhn, Loeb & Company, a representative of the Rothschild banking dynasty in England and France, and brother to Max Warburg who was head of the Warburg banking consortium in Germany and the Netherlands.
A Place Out of Time
The resort itself is a splendid affair, executed in the grand manner.
It suggests an era long extinct and extinguished. It suggests an era as removed from the present day as civility and decorum are removed from the present day.
In brief, it suggests an era of a higher elegance, of a greater gentility.
https://images.ctfassets.net/vha3zb1...-05-16-23.jpeg
https://images.ctfassets.net/vha3zb1...-05-16-23.jpeg
https://ads.agorafinancial.com/www/d...&cb=c70c921f29
https://images.ctfassets.net/vha3zb1...-05-16-23.jpeg
https://images.ctfassets.net/vha3zb1...-05-16-23.jpeg
Kardashian’s America — or Gatsby’s America?
In the outdoor spaces enveloping the central clubhouse, murmuring of antique band music from the 1920s come drifting in.
They are piped in by audio speakers inconspicuously situated. Here they mingle with easy winds teased in from the Atlantic Ocean.
The scene soothes and warms a man. It mellows him.
Is this Kardashian’s America — or Gatsby’s America?
A fellow may be forgiven for believing he has detoured into Gatsby’s America… however fleetingly, however briefly.
He is momentarily wobbled.
In this setting the spectacle of visitors lolling about in flip-flopped shoe-wear and backwards-facing baseball caps seems strangely… inappropriate.
Yet the spectacle is on rich display.
Imagine a mudder in a stallion’s stable. Imagine a jaybird in an eagle’s nest. Imagine a president of the United States on a throne.
Now you have something of the flavor of it. It is out of step.
But let it pass. Let us return to the central purpose of our visit…
Conceived in Secrecy
We have established camp upon Jekyll Island, Georgia to direct a spotlight upon the Federal Reserve itself — its secret origins in particular.
Do we stretch the facts by labelling the Federal Reserve’s origins “secret?”
We do not believe we do, no.
We have it on the highest authority — the above-said Frank A. Vanderlip’s, president of the National City Bank of New York — that the Federal Reserve was in fact conceived in secrecy.
Conceded this fellow in 1935:
Despite my views about the value to society of greater publicity for the affairs of corporations, there was an occasion, near the close of 1910, when I was as secretive — indeed, as furtive — as any conspirator…. I do not feel it is any exaggeration to speak of our secret expedition to Jekyll Island as the occasion of the actual conception of what eventually became the Federal Reserve System…
We were told to leave our last names behind us. We were told, further, that we should avoid dining together on the night of our departure. We were instructed to come one at a time and as unobtrusively as possible to the railroad terminal on the New Jersey littoral of the Hudson, where Senator Aldrich’s private car would be in readiness, attached to the rear end of a train for the South…
Once aboard the private car we began to observe the taboo that had been fixed on last names. We addressed one another as “Ben,” “Paul,” “Nelson,” “Abe” — it is Abraham Piatt Andrew. Davison and I adopted even deeper disguises, abandoning our first names.
On the theory that we were always right, he became Wilbur and I became Orville, after those two aviation pioneers, the Wright brothers…. The servants and train crew may have known the identities of one or two of us, but they did not know all, and it was the names of all printed together that would have made our mysterious journey significant in Washington, in Wall Street, even in London. Discovery, we knew, simply must not happen, or else all our time and effort would be wasted.
If it were to be exposed publicly that our particular group had got together and written a banking bill, that bill would have no chance whatever of passage by Congress.
Why not? What — precisely — were they concealing up their shirtsleeves?
More tomorrow…
- #11,609
- May 17, 2023 2:26am May 17, 2023 2:26am
- | Commercial User | Joined Dec 2014 | 14,165 Posts
https://fundfinder.barclayhedge.com/program/90008255
Advisor, Investment, or Information Disclaimer
The funds are unregistered private investment funds or pools that employ different investment, hedging, leverage and arbitrage methodologies with exposure to many different securities and futures markets. The funds are not subject to the same regulatory requirements as mutual funds, including mutual funds requirements to provide certain periodic and standardized pricing and valuation information to investors. You should note the following:
Advisor, Investment, or Information Disclaimer
The funds are unregistered private investment funds or pools that employ different investment, hedging, leverage and arbitrage methodologies with exposure to many different securities and futures markets. The funds are not subject to the same regulatory requirements as mutual funds, including mutual funds requirements to provide certain periodic and standardized pricing and valuation information to investors. You should note the following:
- The funds represent speculative investments and involve a high degree of risk. An investor could lose all or a substantial portion of his or her investment.
- The funds represent speculative investments and involve a high degree of risk. An investor could lose all or a substantial portion of his or her investment.
- Any investment in the funds should be discretionary capital set aside strictly for speculative purposes.
- An investment in a fund is not suitable for all investors.
- The funds can be leveraged and a fund's performance can be volatile.
- Some funds may use a single advisor or employ a single strategy, which could mean a lack of diversification and higher risks.
- Some funds may execute a substantial portion of trades on foreign exchanges, which could mean higher risk.
- An investment in the funds may be illiquid and there are significant restrictions on transferring interests in a fund. There is no secondary market for an investor's investment in a fund and none is expected to develop.
- A fund's fees and expenses - which may be substantial regardless of any positive return - will offset the fund's trading profits.
- Some funds may involve complex tax structures and delays in distributing important tax information.
- This summary is not a complete list of the risks and other important disclosures involved in investing in the funds and is subject to the more complete disclosures contained in the fund's respective offering documents, which should be reviewed carefully.
- All performance information is believed to be net of applicable fees unless otherwise specifically noted.
- PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE TRADING RESULTS
This material is provided for information purposes only as of the date hereof and is subject to change without notice. This material may not be suitable for all investors and is not intended to be an offer, or the solicitation of any offer, to buy or sell any securities. No offer or solicitation may be made prior to the delivery of appropriate offering documents to qualified investors. The information contained herein including investment returns, valuations, fund targets and strategies, has been supplied by the funds or their agents and although believed to be reliable, has not been independently verified and cannot be guaranteed. We make no representations or warranties as to the accuracy or completeness of such information. This material is not complete and is subject to the more complete disclosures and terms and conditions contained in a particular fund's offering documents, which may be obtained directly from the fund. Although we may provide our analysis, we do not provide due diligence on an investor's behalf and we are not responsible for an investor's decision. Past performance is no guarantee of future results.
- #11,610
- Edited 3:05am May 17, 2023 2:44am | Edited 3:05am
- | Commercial User | Joined Dec 2014 | 14,165 Posts
Glen Eagle to sell 2.7 million First Phosphate shares
2023-05-11 16:31 ET - News Release
Mr. Karl Trudeau reports
EARLY WARNING REPORT FILED PURSUANT TO NATIONAL INSTRUMENT 62-103
Glen Eagle Resources Inc. has disposed of 436,500 common shares of First Phosphate Corp. (FPC), and has entered into an agreement dated May 10, 2023, to dispose of an additional 2.7 million shares on or before May 31, 2023.
The corporation currently owns 5.4 million shares, representing approximately 10.45 per cent of the issued and outstanding shares on a non-diluted basis. On closing of the disposition, the corporation will own 2.7 million shares, representing approximately 5.23 per cent of the issued and outstanding shares on a non-diluted basis.
All securities of FPC controlled by the corporation are held for investment purposes. In the future, it (directly or indirectly) may acquire and/or dispose of securities of FPC through the market, privately or otherwise, as circumstances or market conditions may warrant.
This press release is issued pursuant to the early warning requirements of National Instrument 62-104 -- Take-Over Bids and Issuer Bids and National Instrument 62-103 -- The Early Warning System and Related Take-Over Bid and Insider Reporting Issues. A copy of the early warning report to be filed by Glen Eagle in connection with the transaction will be available on the FPC's SEDAR profile once it has been filed in accordance with applicable securities laws.
About Glen Eagle Resources Inc.
Glen Eagle Resources is a small producer and an exploration company of precious metals in Canada and the central America area.
2023 Canjex Publishing Ltd. All rights reserved.
First Phosphate Management and Board Acquire Additional Shares from Major Shareholder
Through this agreement, the Purchasers will be acquiring 2,700,000 common shares of First Phosphate that are scheduled to be released from escrow in 2023 and in 2024. Glen Eagle will retain 2,700,000 common shares of First Phosphate scheduled to be released from escrow in 2025 and 2026. The agreement is subject to customary closing conditions, including obtaining all necessary approvals under the escrow agreement and all applicable securities laws. Glen Eagle had originally received common shares of First Phosphate through the sale of the Lac à l’Orignal flagship property to First Phosphate on September 12, 2022.
“This agreement allows GER to fulfill its need for immediate liquidity and yet for First Phosphate to maintain an orderly market in the trading of its common shares,” said First Phosphate Chairman of the Board, Laurence W. Zeifman. “I am proud of our board and management team for stepping up swiftly and decisively with our own personal financial resources in favour of a solution that strengthens shareholder value.”
“We thank First Phosphate’s management and board for having worked with us to find an elegant solution to our own internal need for restructuring,” said incoming CEO of Glen Eagle, Karl Trudeau. “We see tremendous promise in the business of First Phosphate and plan to do whatever possible to help to support its world-class business and management team.”
The transaction is set to close by May 31, 2023 upon which time, the Purchasers will file all necessary SEDI and early warning notices. Further details of the transaction will be the subject of a press release at the closing date.
About First Phosphate Corp.
First Phosphate is a mineral development company fully dedicated to extracting and purifying phosphate for the production of cathode active material for the Lithium Iron Phosphate (“LFP”) battery industry. First Phosphate is committed to producing at high purity level, at full ESG standard and with low anticipated carbon footprint. First Phosphate plans to vertically integrate from mine source directly into the supply chains of major North American LFP battery producers that require battery grade LFP cathode active material emanating from a consistent and secure supply source. First Phosphate holds over 1,500 sq. km of royalty-free district-scale land claims in the Saguenay–Lac-St-Jean Region of Quebec, Canada that it is actively developing. First Phosphate properties consist of rare anorthosite igneous phosphate rock that generally yields high purity phosphate material devoid of high concentrations of harmful elements.
[email protected]
Tel: +1 (647) 707-1943
Investor Relations: [email protected]
Media Relations: [email protected]
Website: www.FirstPhosphate.com
Follow First Phosphate:
Twitter: https://twitter.com/FirstPhosphate
LinkedIn: https://www.linkedin.com/company/first-phosphate
Forward-Looking Information and Cautionary Statement
Certain information in this news release constitutes forward-looking statements under applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as “may”, “should”, “anticipate”, “expect”, “potential”, “believe”, “intend” or the negative of these terms and similar expressions. Forward-looking statements in this news release include statements relating to: the Company’s commitment to producing high purity phosphate materials at full ESG standard under a low carbon footprint; the Company’s plans to integrate directly into the functions of certain major North American LFP Battery producers; the Company’s proposed development of its land claims in the region of Saguenay–Lac-St-Jean, Quebec; and the Company making all necessary filings in relation to the transaction and providing a future press release for the same.
Forward-looking information in this press release are based on certain assumptions and expected future events, namely: the Company’s ability to producing high purity phosphate materials at full ESG standard under a low carbon footprint; the Company’s ability to integrate directly into the functions of certain major North American LFP Battery producers; the Company’s ability to develop its land claims in the region of Saguenay–Lac-St-Jean, Quebec; and the Company ability to make all necessary filings in relation to the transaction and providing a future press release for the same.
These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to: the Company’s inability to produce high purity phosphate materials at full ESG standard under a low carbon footprint; the Company’s inability to integrate directly into the functions of certain major North American LFP Battery producers; the Company’s inability to develop its land claims in the region of Saguenay–Lac-St-Jean, Quebec; and the Company inability to make all necessary filings in relation to the transaction and providing a future press release for the same.
https://firstphosphate.com/FirstPhos...ck_english.pdf
First Phosphate (CSE: PHOS) (FSE: KD0) is the only publicly
listed mineral development company that is fully dedicated to
extracting and purifying phosphate for the production of
cathode active material for the Lithium Iron Phosphate (“LFP”)
battery industry.
First Phosphate plans to vertically integrate from mine source
directly into the supply chains of major North American LFP
battery producers.
First Phosphate holds its flagship properties and a total of
1,500+ sq. km of royalty-free land claims in the
Saguenay-Lac-St-Jean Region of Quebec, Canada consisting of
rare anorthosite igneous phosphate rock that generally yields
high purity phosphate material devoid high concentrations of
harmful elements
https://firstphosphate.com/team/
Board and Management
https://firstphosphate.com/wp-conten...team1-copy.jpg
John Passalacqua, Int’l MBA
CEO and Director
John Passalacqua is an international business strategist with over 35 years of extensive technology and capital markets experience. In 1998, John gained the title of a top 50 international business strategist on the early internet. He is involved in private and public market planning for companies in nascent, visionary industries. John has lived in Quebec and is fluently bilingual.
https://firstphosphate.com/wp-conten...8/Picture5.jpg
Peter Kent
President and Director
Peter Kent was an international broadcast journalist, reporter, producer (CTV, CBC, NBC, Monitor, Global) for four decades. Elected to Canadian Parliament in 2008, Peter served in the Department of Foreign Affairs as Minister of State for the Americas, and as Environment Minister. He oversaw improvements to the environmental assessment of resource projects and responsible resource development.
https://firstphosphate.com/wp-conten...2/08/team4.jpg
Laurence W. Zeifman, CPA
Chairman
Laurence W. Zeifman is an audit partner of Zeifmans LLP, a mid-sized Toronto public accounting firm. Larry has four decades of experience in public accounting and serves as chair of Nexia Canada, the Canadian division of the eighth largest international accounting network. He is also a Director of the Ottawa Senators Hockey Club and is an Alternate Governor of the National Hockey League.
https://firstphosphate.com/wp-conten...-731x1024.webp
Garry Siskos, CPA, CA
Structured Finance
Garry Siskos, CPA, CA, has over 25 years of international experience (North America, Europe, Asia) as CFO/COO inside entrepreneurial/multinational business environments (public and private). He specializes in strategy, capital raising, structured finance, M&A. Experienced in technology, mining, and automotive. He was involved in two of Canada’s Top 100 growth organizations.
https://firstphosphate.com/wp-conten...2/08/team2.jpg
Bennett Kurtz
CFO and Director
Bennett Kurtz is principal of Kurtz Financial Group. He has experience in financing public companies and taking private companies public. Bennett has multi-faceted business experience in finance, management, sales, marketing and administrative functions including business analysis, public business unit segmentation, internal and external analytics.
https://firstphosphate.com/wp-conten...Picture6-1.jpg
Gilles Laverdière, P. Geo
Chief Geologist
Gilles Laverdiere is a geologist with more than 40 years of experience in mining exploration. Gilles has planned and supervised drilling projects in Quebec and elsewhere. He was President and CEO of HMZ Metals Inc. Gilles has served as a senior executive and board member of many public mining companies and is a member of the Ordre des Géologues du Québec.
https://firstphosphate.com/wp-conten.../08/team-3.jpg
Marc Branson
Director
Marc Branson is president of CapWest Investments. Throughout his career, Marc has founded and grown companies in multiple sectors including mining, industrials, manufacturing, marketing, and consumer electronics. Marc currently serves on a number of public and private companies. He provides management and strategic guidance.
Advisory Board
https://firstphosphate.com/wp-conten...8/Picture8.png
Dr. Peir Pufahl, P. Geo
Dr. Peir Pufahl is professor of Earth Science at Queen’s University, Canada, and co-director of the Queen’s Facility for Isotope Research. He is an internationally recognized expert on the geology of phosphorites. Dr. Pufahl and his team have developed state-of-the-art phosphorite exploration models and fine-tuned production strategies. Dr. Pufahl is a Fellow of both the Society of Economic Geologists and the Geological Society of America.
https://firstphosphate.com/wp-conten...eldon-jpg.webp
Isobel Sheldon, OBE
Isobel Sheldon, OBE, is a 20 year veteran of the Lithium Ion battery industry. She was awarded an OBE from HM the Queen for long service to EV battery development. She was ranked 37th in OutAtWork top 50 LGBT executives in the UK. She has held senior strategy, technical, business and executive roles with Britishvolt, UK Battery Industrialisation Centre, Cummins Electrified Power and Johnson Matthey.
https://firstphosphate.com/wp-conten...enzie-jpg.webp
Armand MacKenzie
Armand MacKenzie was raised in traditional Innu territory. He has practiced law for 15 years and was chief legal advisor on land rights for the Innu Nation. He was special advisor/negotiator on the drafting and adoption of the UN General Assembly Declaration on the Rights of Indigenous Peoples. He has negotiated numerous impact benefit agreements. He has been a mining executive for the last 15 years.
https://firstphosphate.com/wp-conten...-directors.jpg
Yves Caprara
Yves Caprara is an international expert in purified phosphoric acid technologies and their applications with focus on sustainability. He was CEO of Prayon SA, Europe’s largest producer of food and technical grade phosphoric acid. Yves ran operations in Europe, the United States, Canada, China, India, Brazil and Morocco. Board member of the International Fertilizer Association from 2015-2020.
https://firstphosphate.com/wp-conten...8/Picture7.png
Paul Pitman, P. Geo
Paul Pitman is a registered professional geologist who has over 50 years’ experience as exploration geologist, as corporate officer of mining companies and as geological consultant. He is a former director/officer of several junior resource companies that he founded including three fertilizer companies: Pueblo Potash Inc., Murdock Mt. (phosphate) and Boreal Agrominerals (mineral soils).
https://firstphosphate.com/wp-conten...3-789x1024.jpg
David Dufour
David Dufour has over 30 years experience in the development and the management of high-growth businesses in Saguenay, Quebec. He has worked as land surveyor, project manager and director of economic development. He also worked in economic development for the Government of Quebec. David specializes in the areas of eco-responsibility and local governance issues.
https://firstphosphate.com/wp-conten.../karl-jpg.webp
Karl Trudeau
Karl Trudeau is a senior corporate operations professional who has built several mining companies from the ground up. He is especially active in the battery metals space having contributed to the success of Imerys Graphite, Carbone Canada and Nouveau Monde Graphite. Mining companies have witnessed major increases in their market capitalization when Karl has taken over as acting COO.
https://firstphosphate.com/wp-conten...bw-236x300.jpg
Ford Nicholson
Ford Nicholson is a Managing Partner and founder of Kepis & Pobe Financial Group. Over the past 25 years, Mr. Nicholson has invested in and provided executive management to multiple international projects in the traditional energy and renewable energy sectors. Mr. Nicholson is the former deputy chairman of the board of InterOil Corporation before its sale to ExxonMobil. Ford is also a former member of the President’s council of the International Crisis Group.
https://firstphosphate.com/wp-conten...d1-250x300.jpg
Bernard Lapointe
Bernard Lapointe founded Arianne Phosphate in 1997 and was president of the company until 2013. Bernard holds a Ph.D. in mineral resources from the University of Quebec at Chicoutimi (UQAC). Prior to Arianne Phosphate, he was director of the Saguenay-Lac-St-Jean Mining Fund. He currently sits on the Board of Directors of several public companies in the resource and fertilizer sectors.
Industry Partners
https://firstphosphate.com/wp-conten...andeep4web.jpg
Dr. Sandeep Banerjee – Queen’s University
Dr. Sandeep Banerjee has over 16 years of global experience in the mineralogical and geochemical study of igneous, sedimentary, and metamorphic rocks, including phosphorites. Dr. Banerjee is an expert in applying advanced analytical techniques to understand rock record. Sandeep works with the SGS team on providing deep minerological data to inform their advanced extraction techniques.
https://firstphosphate.com/wp-conten...e2-186x300.jpg
Dominique Lascelles – SGS Canada
SGS is a leading global technical service provider conducting precise and accurate testing across numerous industries. Dominique is focused on separation and recovery of titanium, phosphate and iron found within First Phosphate ores as well as implementation and management of the eventual First Phosphate concentration pilot plant.
https://firstphosphate.com/wp-conten...ead-Shot-4.jpg
Eugene Puritch – P&E Mining Consultants Inc.
P&E Mining Consultants Inc. provides geological, mine engineering and Mineral Resource Estimate technical reports, Preliminary Economic Assessments and Pre-Feasibility Studies. P&E is affiliated with major consulting firms for joint venture/Feasibility Studies. P&E’s 20 associates author 400+ NI 43-101 technical reports on phosphate/potash, most metallic deposits.
https://firstphosphate.com/wp-conten...tofsagunay.png
Port Saguenay
The Port of Saguenay is a natural gateway to Northern Quebec and its extensive natural resources. First Phosphate’s MoU with the Port of Saguenay provides guaranteed deep sea access to the world as well as an industrial footprint at the port to build out advanced processing operations and LFP battery related partnerships on a global scale.
https://firstphosphate.com/wp-conten...shot1-jpg.webp
Hugues Guérin Tremblay – Laurentia Exploration
Laurentia Exploration is at team of nearly 60 professional geologists and employees based in Jonquière, Québec in close proximity to First Phosphate land claims. Laurentia offers exploration, prospecting and mapping services, drilling campaign support and management, geo-scientific compilation and 3D modeling.
https://firstphosphate.com/wp-conten...lCote-jpg.webp
Carl Côté – Groupe Conseil Nutshimit-Nippour
Groupe Conseil Nutshimit-Nippour has expertise in the fields of environmental protection, land use planning, biology (fauna, flora, wetland and aquatic habitats), social impacts, geomatics, GPS and bathymetric surveys and forestry. The group has offices in Mashteuiatsh, Saguenay and on the Côte-Nord in close proximity to First Phosphate land claims.
2023-05-11 16:31 ET - News Release
Mr. Karl Trudeau reports
EARLY WARNING REPORT FILED PURSUANT TO NATIONAL INSTRUMENT 62-103
Glen Eagle Resources Inc. has disposed of 436,500 common shares of First Phosphate Corp. (FPC), and has entered into an agreement dated May 10, 2023, to dispose of an additional 2.7 million shares on or before May 31, 2023.
The corporation currently owns 5.4 million shares, representing approximately 10.45 per cent of the issued and outstanding shares on a non-diluted basis. On closing of the disposition, the corporation will own 2.7 million shares, representing approximately 5.23 per cent of the issued and outstanding shares on a non-diluted basis.
All securities of FPC controlled by the corporation are held for investment purposes. In the future, it (directly or indirectly) may acquire and/or dispose of securities of FPC through the market, privately or otherwise, as circumstances or market conditions may warrant.
This press release is issued pursuant to the early warning requirements of National Instrument 62-104 -- Take-Over Bids and Issuer Bids and National Instrument 62-103 -- The Early Warning System and Related Take-Over Bid and Insider Reporting Issues. A copy of the early warning report to be filed by Glen Eagle in connection with the transaction will be available on the FPC's SEDAR profile once it has been filed in accordance with applicable securities laws.
About Glen Eagle Resources Inc.
Glen Eagle Resources is a small producer and an exploration company of precious metals in Canada and the central America area.
First Phosphate Management and Board Acquire Additional Shares from Major Shareholder
Saguenay, Quebec – May 11, 2023 – First Phosphate Corp. (“First Phosphate” or the “Company”) (CSE: PHOS) (FSE: KD0) is pleased to announce that members of its management team and board of directors (the “Purchasers”) have reached an agreement for the purchase of 50% of the common shares of First Phosphate currently owned by Glen Eagle Resources Inc. (“Glen Eagle”).
Through this agreement, the Purchasers will be acquiring 2,700,000 common shares of First Phosphate that are scheduled to be released from escrow in 2023 and in 2024. Glen Eagle will retain 2,700,000 common shares of First Phosphate scheduled to be released from escrow in 2025 and 2026. The agreement is subject to customary closing conditions, including obtaining all necessary approvals under the escrow agreement and all applicable securities laws. Glen Eagle had originally received common shares of First Phosphate through the sale of the Lac à l’Orignal flagship property to First Phosphate on September 12, 2022.
“This agreement allows GER to fulfill its need for immediate liquidity and yet for First Phosphate to maintain an orderly market in the trading of its common shares,” said First Phosphate Chairman of the Board, Laurence W. Zeifman. “I am proud of our board and management team for stepping up swiftly and decisively with our own personal financial resources in favour of a solution that strengthens shareholder value.”
“We thank First Phosphate’s management and board for having worked with us to find an elegant solution to our own internal need for restructuring,” said incoming CEO of Glen Eagle, Karl Trudeau. “We see tremendous promise in the business of First Phosphate and plan to do whatever possible to help to support its world-class business and management team.”
The transaction is set to close by May 31, 2023 upon which time, the Purchasers will file all necessary SEDI and early warning notices. Further details of the transaction will be the subject of a press release at the closing date.
About First Phosphate Corp.
First Phosphate is a mineral development company fully dedicated to extracting and purifying phosphate for the production of cathode active material for the Lithium Iron Phosphate (“LFP”) battery industry. First Phosphate is committed to producing at high purity level, at full ESG standard and with low anticipated carbon footprint. First Phosphate plans to vertically integrate from mine source directly into the supply chains of major North American LFP battery producers that require battery grade LFP cathode active material emanating from a consistent and secure supply source. First Phosphate holds over 1,500 sq. km of royalty-free district-scale land claims in the Saguenay–Lac-St-Jean Region of Quebec, Canada that it is actively developing. First Phosphate properties consist of rare anorthosite igneous phosphate rock that generally yields high purity phosphate material devoid of high concentrations of harmful elements.
-30-
For additional information, please contact:
Peter Kent, President[email protected]
Tel: +1 (647) 707-1943
Investor Relations: [email protected]
Media Relations: [email protected]
Website: www.FirstPhosphate.com
Follow First Phosphate:
Twitter: https://twitter.com/FirstPhosphate
LinkedIn: https://www.linkedin.com/company/first-phosphate
Forward-Looking Information and Cautionary Statement
Certain information in this news release constitutes forward-looking statements under applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as “may”, “should”, “anticipate”, “expect”, “potential”, “believe”, “intend” or the negative of these terms and similar expressions. Forward-looking statements in this news release include statements relating to: the Company’s commitment to producing high purity phosphate materials at full ESG standard under a low carbon footprint; the Company’s plans to integrate directly into the functions of certain major North American LFP Battery producers; the Company’s proposed development of its land claims in the region of Saguenay–Lac-St-Jean, Quebec; and the Company making all necessary filings in relation to the transaction and providing a future press release for the same.
Forward-looking information in this press release are based on certain assumptions and expected future events, namely: the Company’s ability to producing high purity phosphate materials at full ESG standard under a low carbon footprint; the Company’s ability to integrate directly into the functions of certain major North American LFP Battery producers; the Company’s ability to develop its land claims in the region of Saguenay–Lac-St-Jean, Quebec; and the Company ability to make all necessary filings in relation to the transaction and providing a future press release for the same.
These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to: the Company’s inability to produce high purity phosphate materials at full ESG standard under a low carbon footprint; the Company’s inability to integrate directly into the functions of certain major North American LFP Battery producers; the Company’s inability to develop its land claims in the region of Saguenay–Lac-St-Jean, Quebec; and the Company inability to make all necessary filings in relation to the transaction and providing a future press release for the same.
https://firstphosphate.com/FirstPhos...ck_english.pdf
First Phosphate (CSE: PHOS) (FSE: KD0) is the only publicly
listed mineral development company that is fully dedicated to
extracting and purifying phosphate for the production of
cathode active material for the Lithium Iron Phosphate (“LFP”)
battery industry.
First Phosphate plans to vertically integrate from mine source
directly into the supply chains of major North American LFP
battery producers.
First Phosphate holds its flagship properties and a total of
1,500+ sq. km of royalty-free land claims in the
Saguenay-Lac-St-Jean Region of Quebec, Canada consisting of
rare anorthosite igneous phosphate rock that generally yields
high purity phosphate material devoid high concentrations of
harmful elements
https://firstphosphate.com/team/
Board and Management
https://firstphosphate.com/wp-conten...team1-copy.jpg
John Passalacqua, Int’l MBA
CEO and Director
John Passalacqua is an international business strategist with over 35 years of extensive technology and capital markets experience. In 1998, John gained the title of a top 50 international business strategist on the early internet. He is involved in private and public market planning for companies in nascent, visionary industries. John has lived in Quebec and is fluently bilingual.
https://firstphosphate.com/wp-conten...8/Picture5.jpg
Peter Kent
President and Director
Peter Kent was an international broadcast journalist, reporter, producer (CTV, CBC, NBC, Monitor, Global) for four decades. Elected to Canadian Parliament in 2008, Peter served in the Department of Foreign Affairs as Minister of State for the Americas, and as Environment Minister. He oversaw improvements to the environmental assessment of resource projects and responsible resource development.
https://firstphosphate.com/wp-conten...2/08/team4.jpg
Laurence W. Zeifman, CPA
Chairman
Laurence W. Zeifman is an audit partner of Zeifmans LLP, a mid-sized Toronto public accounting firm. Larry has four decades of experience in public accounting and serves as chair of Nexia Canada, the Canadian division of the eighth largest international accounting network. He is also a Director of the Ottawa Senators Hockey Club and is an Alternate Governor of the National Hockey League.
https://firstphosphate.com/wp-conten...-731x1024.webp
Garry Siskos, CPA, CA
Structured Finance
Garry Siskos, CPA, CA, has over 25 years of international experience (North America, Europe, Asia) as CFO/COO inside entrepreneurial/multinational business environments (public and private). He specializes in strategy, capital raising, structured finance, M&A. Experienced in technology, mining, and automotive. He was involved in two of Canada’s Top 100 growth organizations.
https://firstphosphate.com/wp-conten...2/08/team2.jpg
Bennett Kurtz
CFO and Director
Bennett Kurtz is principal of Kurtz Financial Group. He has experience in financing public companies and taking private companies public. Bennett has multi-faceted business experience in finance, management, sales, marketing and administrative functions including business analysis, public business unit segmentation, internal and external analytics.
https://firstphosphate.com/wp-conten...Picture6-1.jpg
Gilles Laverdière, P. Geo
Chief Geologist
Gilles Laverdiere is a geologist with more than 40 years of experience in mining exploration. Gilles has planned and supervised drilling projects in Quebec and elsewhere. He was President and CEO of HMZ Metals Inc. Gilles has served as a senior executive and board member of many public mining companies and is a member of the Ordre des Géologues du Québec.
https://firstphosphate.com/wp-conten.../08/team-3.jpg
Marc Branson
Director
Marc Branson is president of CapWest Investments. Throughout his career, Marc has founded and grown companies in multiple sectors including mining, industrials, manufacturing, marketing, and consumer electronics. Marc currently serves on a number of public and private companies. He provides management and strategic guidance.
Advisory Board
https://firstphosphate.com/wp-conten...8/Picture8.png
Dr. Peir Pufahl, P. Geo
Dr. Peir Pufahl is professor of Earth Science at Queen’s University, Canada, and co-director of the Queen’s Facility for Isotope Research. He is an internationally recognized expert on the geology of phosphorites. Dr. Pufahl and his team have developed state-of-the-art phosphorite exploration models and fine-tuned production strategies. Dr. Pufahl is a Fellow of both the Society of Economic Geologists and the Geological Society of America.
https://firstphosphate.com/wp-conten...eldon-jpg.webp
Isobel Sheldon, OBE
Isobel Sheldon, OBE, is a 20 year veteran of the Lithium Ion battery industry. She was awarded an OBE from HM the Queen for long service to EV battery development. She was ranked 37th in OutAtWork top 50 LGBT executives in the UK. She has held senior strategy, technical, business and executive roles with Britishvolt, UK Battery Industrialisation Centre, Cummins Electrified Power and Johnson Matthey.
https://firstphosphate.com/wp-conten...enzie-jpg.webp
Armand MacKenzie
Armand MacKenzie was raised in traditional Innu territory. He has practiced law for 15 years and was chief legal advisor on land rights for the Innu Nation. He was special advisor/negotiator on the drafting and adoption of the UN General Assembly Declaration on the Rights of Indigenous Peoples. He has negotiated numerous impact benefit agreements. He has been a mining executive for the last 15 years.
https://firstphosphate.com/wp-conten...-directors.jpg
Yves Caprara
Yves Caprara is an international expert in purified phosphoric acid technologies and their applications with focus on sustainability. He was CEO of Prayon SA, Europe’s largest producer of food and technical grade phosphoric acid. Yves ran operations in Europe, the United States, Canada, China, India, Brazil and Morocco. Board member of the International Fertilizer Association from 2015-2020.
https://firstphosphate.com/wp-conten...8/Picture7.png
Paul Pitman, P. Geo
Paul Pitman is a registered professional geologist who has over 50 years’ experience as exploration geologist, as corporate officer of mining companies and as geological consultant. He is a former director/officer of several junior resource companies that he founded including three fertilizer companies: Pueblo Potash Inc., Murdock Mt. (phosphate) and Boreal Agrominerals (mineral soils).
https://firstphosphate.com/wp-conten...3-789x1024.jpg
David Dufour
David Dufour has over 30 years experience in the development and the management of high-growth businesses in Saguenay, Quebec. He has worked as land surveyor, project manager and director of economic development. He also worked in economic development for the Government of Quebec. David specializes in the areas of eco-responsibility and local governance issues.
https://firstphosphate.com/wp-conten.../karl-jpg.webp
Karl Trudeau
Karl Trudeau is a senior corporate operations professional who has built several mining companies from the ground up. He is especially active in the battery metals space having contributed to the success of Imerys Graphite, Carbone Canada and Nouveau Monde Graphite. Mining companies have witnessed major increases in their market capitalization when Karl has taken over as acting COO.
https://firstphosphate.com/wp-conten...bw-236x300.jpg
Ford Nicholson
Ford Nicholson is a Managing Partner and founder of Kepis & Pobe Financial Group. Over the past 25 years, Mr. Nicholson has invested in and provided executive management to multiple international projects in the traditional energy and renewable energy sectors. Mr. Nicholson is the former deputy chairman of the board of InterOil Corporation before its sale to ExxonMobil. Ford is also a former member of the President’s council of the International Crisis Group.
https://firstphosphate.com/wp-conten...d1-250x300.jpg
Bernard Lapointe
Bernard Lapointe founded Arianne Phosphate in 1997 and was president of the company until 2013. Bernard holds a Ph.D. in mineral resources from the University of Quebec at Chicoutimi (UQAC). Prior to Arianne Phosphate, he was director of the Saguenay-Lac-St-Jean Mining Fund. He currently sits on the Board of Directors of several public companies in the resource and fertilizer sectors.
Industry Partners
https://firstphosphate.com/wp-conten...andeep4web.jpg
Dr. Sandeep Banerjee – Queen’s University
Dr. Sandeep Banerjee has over 16 years of global experience in the mineralogical and geochemical study of igneous, sedimentary, and metamorphic rocks, including phosphorites. Dr. Banerjee is an expert in applying advanced analytical techniques to understand rock record. Sandeep works with the SGS team on providing deep minerological data to inform their advanced extraction techniques.
https://firstphosphate.com/wp-conten...e2-186x300.jpg
Dominique Lascelles – SGS Canada
SGS is a leading global technical service provider conducting precise and accurate testing across numerous industries. Dominique is focused on separation and recovery of titanium, phosphate and iron found within First Phosphate ores as well as implementation and management of the eventual First Phosphate concentration pilot plant.
https://firstphosphate.com/wp-conten...ead-Shot-4.jpg
Eugene Puritch – P&E Mining Consultants Inc.
P&E Mining Consultants Inc. provides geological, mine engineering and Mineral Resource Estimate technical reports, Preliminary Economic Assessments and Pre-Feasibility Studies. P&E is affiliated with major consulting firms for joint venture/Feasibility Studies. P&E’s 20 associates author 400+ NI 43-101 technical reports on phosphate/potash, most metallic deposits.
https://firstphosphate.com/wp-conten...tofsagunay.png
Port Saguenay
The Port of Saguenay is a natural gateway to Northern Quebec and its extensive natural resources. First Phosphate’s MoU with the Port of Saguenay provides guaranteed deep sea access to the world as well as an industrial footprint at the port to build out advanced processing operations and LFP battery related partnerships on a global scale.
https://firstphosphate.com/wp-conten...shot1-jpg.webp
Hugues Guérin Tremblay – Laurentia Exploration
Laurentia Exploration is at team of nearly 60 professional geologists and employees based in Jonquière, Québec in close proximity to First Phosphate land claims. Laurentia offers exploration, prospecting and mapping services, drilling campaign support and management, geo-scientific compilation and 3D modeling.
https://firstphosphate.com/wp-conten...lCote-jpg.webp
Carl Côté – Groupe Conseil Nutshimit-Nippour
Groupe Conseil Nutshimit-Nippour has expertise in the fields of environmental protection, land use planning, biology (fauna, flora, wetland and aquatic habitats), social impacts, geomatics, GPS and bathymetric surveys and forestry. The group has offices in Mashteuiatsh, Saguenay and on the Côte-Nord in close proximity to First Phosphate land claims.
- #11,612
- May 17, 2023 3:40am May 17, 2023 3:40am
- | Commercial User | Joined Dec 2014 | 14,165 Posts
https://www.goldmoney.com/research/t...-money-is-time
Time Is Money, Money Is Time
Dec 20, 2018·Alasdair Macleod
Life’s but a walking shadow, a poor player who struts and frets his hour upon the stage and then is heard no more.
-Macbeth
Our limited time, our brief candle as Shakespeare’s Macbeth had it earlier in the soliloquy quoted from above, may count for very little in the grand scheme of things, but is of the utmost importance to each of us personally. Unlike the other dimensions, height, breadth and depth, the fourth is almost infinite, but individuals enjoy only a small part of it, our three-score years and ten. Time moves on. What really matters is not wasting it.
We may appear to others to be wasting time. But it is not wasting it when we take a break, recharge our batteries, or stop to think. Pleasure-seeking, pursuing happiness, removing uneasiness is making good use of time. We are all different and enjoy different things, so wasting time is not time wasted so long as it our personal choice. No one can allocate time as effectively as the individual. It is intensely personal.
While using time effectively is a private pleasure, wasting it can be very frustrating. Wasting time is the denial of personal ambition, whether it is as trivial as in a game of cards or as momentous as changing one’s circumstances. Avoiding time-wasting requires positive personal action, but we live in a world where that decision is progressively being subsumed by the state. But the state has little concept of the importance of time, replacing it with indecision and deferment. Time offers change and progress, except to the state. The evolution of events that go with time undermines the state’s certainties. The state believes it has all the time in the world to get things right by consulting, reporting, debating and eventually acting, while everyone affected has to wait.
It takes more than a decade to agree a trade deal between the EU and another government, neither of which feels time is important. This snail’s pace with our time is the norm in government and inter-governmental affairs. In business, time is a cost working against profit, because profit is always measured within a time-frame. A businessman who is both proficient and efficient is a valued person in society. He is productive, maximising profits while limiting the time spent achieving them. Time is also the basis of interest rates, which far from being a cost of money, is an expression of time preference. Time preference is the discounted future value of materials, energy and effort not yet in possession, but promised to be so at a given future date.
Through monetary policy the state commandeers our time preferences, forcing its own omnibus version upon us. It commands the value of our personal futures relative to cash. We don’t often realise how damaging is the loss of freedom to determine the fourth dimension for ourselves. If we understood the state was depriving us of time, we would probably be angry. The embezzlement of its use is behind the growing frustration felt by ordinary people. It is the underlying theme to Hayek’s Road to Serfdom, how the state conspires to steal its people’s freedom for statist priorities.
The state’s functionaries are usually ignorant of what they are doing. As stated above, wasting our time doesn’t matter to them. It has taken two and a half years for the British Government to fail to negotiate Brexit, wasting every citizens’ time in both Britain and the EU wanting certainty.
The statists don’t care, because they place little or no value on time. The vade mecum which is their ultimate guide in these matters, Keynes’s General Theory, makes no substantive mention of the meaning of time until Page 293, where he correctly states that “the importance of money essentially flows from it being the link between the present and the future” [ italics in the original][i].
It is one thing that Keynes actually got right, but he then ignored the implications. The time dimension does not sit well with Keynes’s mathematical approach to economics, because the assumption behind equations is that time does not alter them. A+B@C can only assume all components are unaffected by time. In reality, a static world where yesterday’s deployment of money replicates tomorrow’s deployment of money, does not exist. If it did, there would be no human progress. Therefore, time brings with it change, so is an inconvenience which the neo-Keynesians choose to ignore.
Clearly, the statists’ motivation was to discard proven classical theory to make way for propositions that favoured the state controlling money, which as Keynes pointed out is the bridge between the present and the future. First, we produce. Then we are paid. Then we spend and save. Money is the temporary storage of our labour for future use. Time and money are synonymous and common to all these activities.
We think the state is taking only our money, but it is also taking our time. If it was more widely appreciated that we are being robbed of our time, attitudes towards state intervention would surely change. As it is, we think it is only money, and surely, who would want to be thought of as so venal to object to its redistribution to those that deserve it more?
Create a credit cycle, then suppress the consequences
The state has been extremely effective at picking our pockets, employing monetary prestidigitation as well as taxes. By taking control of the economic and monetary agenda, the state has persuaded us it can deploy our money more effectively than we can ourselves. It commands us to exclusively use the state’s own currency, backed by our faith in its credit. It suppresses interest rates to grow the economy and maximise taxes, saying we can become better off together. It takes payments from us and spends them in a manner determined by the state acting in our collective interest.
When the theft of our time is relatively minor, we tolerate it. We can grow wealthier together. But when we find ourselves working increasingly for the state, spending almost half our working lifetime doing so, our discontent and resentment builds. We are no longer in control of the fruits of our labour, our time. The central bank then springs to our rescue, creating the extra money we have lost in taxes, and encouraging the banks it regulates to extend credit to allow us to make more and spend more. It debases both our time preferences and the true cost of our wages to our employers. For a brief period, it might appear to work, so long as the losers don’t notice and complain. But it leads to economic instability by replacing the healthy randomness of our collective desires with a cycle of credit expansion and contraction.
Earnings and savings, the fruits of our time spent, are transferred from ordinary citizens and gifted to others favoured by the state, simply by suppressing interest rates, thereby reducing time preferences. Time-value is taken from consumers and given to producing borrowers. Over the decades, consumers have been gradually impoverished, and producers have learned to love the state more than the consumer.
Our inept leaders can sincerely believe they are making a better world for us all, but they suppress the evidence when it goes wrong. Instead of making a better world, over time they have depleted personal wealth and earnings by taxes and monetary debasement, leaving little left to transfer to the state in future. But time is money, so the state simply prints yet more currency to buy more time. In the absence of time-pressures the state believes the future can be deferred indefinitely, and eventually everything will be all right. Just be patient and give us more of your time…
Are we any happier without our stolen time? Occupy Wall Street, the emergence of America’s Despicables, Britain’s Brexiteers and France’s rioters all attest otherwise. Now that savings have been depleted, we must borrow to spend. The yellow brick road, which the stealers of our time promised will lead to only good things, is leading us instead into destitution.
The theft of time ends in a credit-driven crisis
The theft of our time through monetary debasement has continued apace ever since the discipline of gold was removed from the global monetary system. This occurred in steps from the early 1930s but accelerated after the Nixon shock in 1971. Prices then began to rise rapidly, as money’s purchasing power declined. The state eventually found a solution to rising prices: it just denies they are happening. The contents of consumer price index is continually rotated and adjusted, which in effect goal-seeks a modest two per cent annual rise.
In the 1980s governments came up with a new wheeze to augment declining savings: lend money to savers through the banks in order to inflate assets and consumption. They did this by repealing the Glass-Steagall legislation, which separated investment banking from commercial lending. Credit became increasingly available for residential property, credit cards and personal loans. The banks gained economic power and profits by creating this credit out of thin air and bankers made fortunes for themselves.
Since the 1980s, the destruction of genuine savings has been offset by the asset inflation fuelled through this easy credit. The excesses led to the 1987 crash, the dot-com bubble in 2000, and the residential property bubble in 2006-07. But the downs in property and financial asset prices were always rescued by yet more credit. Following the Lehman crisis ten years ago, the debasement of money has accelerated, asset prices have inflated, and price inflation has been concealed by the goal-seeking CPI.
The lack of any constancy in the currency allows the state to act without the bulk of the population being aware it is being robbed of its earnings, its savings, its future, its time. The simple truth is that not only is everyone poorer than they might have otherwise been, but they are poorer in absolute terms as well. Every year, the public is robbed some more, to the point where eventually there will be very little left to give, relative to the state’s escalating demands.
We must be close to that point. Only this week, we have seen the Christmas trade in Britain fail. Falling bank shares are an ominous leading indicator. Everywhere, people are less keen to borrow the credit offered by motor manufacturers to finance the purchase of their cars. Credit cards are maxed out. Homeless numbers in England, the ultimate indicator of personal distress, are up 169% since 2010.[ii] Additionally, tariffs, which are consumer taxes and taxes on production, are being imposed on Americans leaving them poorer.
The inevitable and forthcoming crisis is taking us to the end of that yellow brick road. We are not going out in a speculative bang, but with an impoverished whimper, with nothing left to give. And when the state collects diminished returns through taxes, it always seeks to recover them through yet more monetary debasement.
We know it ends in crisis, because history and logic say so. We appear to be on the verge of it, because of the message from the markets. Corporate bond markets in both America and the EU are in a stasis.[iii] We are also told that US banks are pulling the rug on corporate loans.[iv]
They call this deflationary, an imprecise term, which as Humpty Dumpty said, “it means what I choose it to mean”. A better description for what is happening is that it is the consequence of an accumulating and continual theft of peoples’ time by the state through the unfettered issuance of money and credit. Calling it deflation encourages the state’s agents to debase the currency even further, in the naïve belief that it is the antonym of inflation.
Stock markets are now falling, because investors are suspending their belief that the state is in control and can avoid deflation while steering us into a promised land of perpetually rising asset values. But when investors begin to think, as opposed to believe, the awkward questions will start coming. If the currency is being debased, the state will have to borrow escalating quantities of its own money just to stand still. And since the state has taken responsibility for our welfare, in a recession (another of Humpty Dumpty’s imprecise words) the state will have to borrow even more.
Where will the money come from? And at what interest rates? If borrowing costs are rising because we have nothing left to fund escalating state commitments, what of the corporations that calculate their returns based on the rising cost of working capital? Have bond markets and bank lending seized up because the banks have thrown in the towel? Having taken command of our time-preferences, has the state itself finally lost control?
It is only faith that allowed us to believe otherwise. Faith in the state, and faith in its credit. Without that, the state’s unbacked money loses its purchasing power, wasting all that time the state has taken from us. We can redefine the upcoming inflationary slump as being simply the visible destruction of everyone’s time.
[i] JM Keynes. The General Theory of Employment, Interest and Money Palgrave Macmillan reprint 2007
[ii] https://www.homeless.org.uk/facts/ho...g-our-analysis
[iii] https://www.zerohedge.com/news/2018-...nk-bond-prices
[iv] https://www.zerohedge.com/news/2018-...next-recession
The views and opinions expressed in this article are those of the author(s) and do not reflect those of Goldmoney, unless expressly stated. The article is for general information purposes only and does not constitute either Goldmoney or the author(s) providing you with legal, financial, tax, investment, or accounting advice. You should not act or rely on any information contained in the article without first seeking independent professional advice. Care has been taken to ensure that the information in the article is reliable; however, Goldmoney does not represent that it is accurate, complete, up-to-date and/or to be taken as an indication of future results and it should not be relied upon as such. Goldmoney will not be held responsible for any claim, loss, damage, or inconvenience caused as a result of any information or opinion contained in this article and any action taken as a result of the opinions and information contained in this article is at your own risk.
Time Is Money, Money Is Time
Dec 20, 2018·Alasdair Macleod
Life’s but a walking shadow, a poor player who struts and frets his hour upon the stage and then is heard no more.
-Macbeth
Our limited time, our brief candle as Shakespeare’s Macbeth had it earlier in the soliloquy quoted from above, may count for very little in the grand scheme of things, but is of the utmost importance to each of us personally. Unlike the other dimensions, height, breadth and depth, the fourth is almost infinite, but individuals enjoy only a small part of it, our three-score years and ten. Time moves on. What really matters is not wasting it.
We may appear to others to be wasting time. But it is not wasting it when we take a break, recharge our batteries, or stop to think. Pleasure-seeking, pursuing happiness, removing uneasiness is making good use of time. We are all different and enjoy different things, so wasting time is not time wasted so long as it our personal choice. No one can allocate time as effectively as the individual. It is intensely personal.
While using time effectively is a private pleasure, wasting it can be very frustrating. Wasting time is the denial of personal ambition, whether it is as trivial as in a game of cards or as momentous as changing one’s circumstances. Avoiding time-wasting requires positive personal action, but we live in a world where that decision is progressively being subsumed by the state. But the state has little concept of the importance of time, replacing it with indecision and deferment. Time offers change and progress, except to the state. The evolution of events that go with time undermines the state’s certainties. The state believes it has all the time in the world to get things right by consulting, reporting, debating and eventually acting, while everyone affected has to wait.
It takes more than a decade to agree a trade deal between the EU and another government, neither of which feels time is important. This snail’s pace with our time is the norm in government and inter-governmental affairs. In business, time is a cost working against profit, because profit is always measured within a time-frame. A businessman who is both proficient and efficient is a valued person in society. He is productive, maximising profits while limiting the time spent achieving them. Time is also the basis of interest rates, which far from being a cost of money, is an expression of time preference. Time preference is the discounted future value of materials, energy and effort not yet in possession, but promised to be so at a given future date.
Through monetary policy the state commandeers our time preferences, forcing its own omnibus version upon us. It commands the value of our personal futures relative to cash. We don’t often realise how damaging is the loss of freedom to determine the fourth dimension for ourselves. If we understood the state was depriving us of time, we would probably be angry. The embezzlement of its use is behind the growing frustration felt by ordinary people. It is the underlying theme to Hayek’s Road to Serfdom, how the state conspires to steal its people’s freedom for statist priorities.
The state’s functionaries are usually ignorant of what they are doing. As stated above, wasting our time doesn’t matter to them. It has taken two and a half years for the British Government to fail to negotiate Brexit, wasting every citizens’ time in both Britain and the EU wanting certainty.
The statists don’t care, because they place little or no value on time. The vade mecum which is their ultimate guide in these matters, Keynes’s General Theory, makes no substantive mention of the meaning of time until Page 293, where he correctly states that “the importance of money essentially flows from it being the link between the present and the future” [ italics in the original][i].
It is one thing that Keynes actually got right, but he then ignored the implications. The time dimension does not sit well with Keynes’s mathematical approach to economics, because the assumption behind equations is that time does not alter them. A+B@C can only assume all components are unaffected by time. In reality, a static world where yesterday’s deployment of money replicates tomorrow’s deployment of money, does not exist. If it did, there would be no human progress. Therefore, time brings with it change, so is an inconvenience which the neo-Keynesians choose to ignore.
Clearly, the statists’ motivation was to discard proven classical theory to make way for propositions that favoured the state controlling money, which as Keynes pointed out is the bridge between the present and the future. First, we produce. Then we are paid. Then we spend and save. Money is the temporary storage of our labour for future use. Time and money are synonymous and common to all these activities.
We think the state is taking only our money, but it is also taking our time. If it was more widely appreciated that we are being robbed of our time, attitudes towards state intervention would surely change. As it is, we think it is only money, and surely, who would want to be thought of as so venal to object to its redistribution to those that deserve it more?
Create a credit cycle, then suppress the consequences
The state has been extremely effective at picking our pockets, employing monetary prestidigitation as well as taxes. By taking control of the economic and monetary agenda, the state has persuaded us it can deploy our money more effectively than we can ourselves. It commands us to exclusively use the state’s own currency, backed by our faith in its credit. It suppresses interest rates to grow the economy and maximise taxes, saying we can become better off together. It takes payments from us and spends them in a manner determined by the state acting in our collective interest.
When the theft of our time is relatively minor, we tolerate it. We can grow wealthier together. But when we find ourselves working increasingly for the state, spending almost half our working lifetime doing so, our discontent and resentment builds. We are no longer in control of the fruits of our labour, our time. The central bank then springs to our rescue, creating the extra money we have lost in taxes, and encouraging the banks it regulates to extend credit to allow us to make more and spend more. It debases both our time preferences and the true cost of our wages to our employers. For a brief period, it might appear to work, so long as the losers don’t notice and complain. But it leads to economic instability by replacing the healthy randomness of our collective desires with a cycle of credit expansion and contraction.
Earnings and savings, the fruits of our time spent, are transferred from ordinary citizens and gifted to others favoured by the state, simply by suppressing interest rates, thereby reducing time preferences. Time-value is taken from consumers and given to producing borrowers. Over the decades, consumers have been gradually impoverished, and producers have learned to love the state more than the consumer.
Our inept leaders can sincerely believe they are making a better world for us all, but they suppress the evidence when it goes wrong. Instead of making a better world, over time they have depleted personal wealth and earnings by taxes and monetary debasement, leaving little left to transfer to the state in future. But time is money, so the state simply prints yet more currency to buy more time. In the absence of time-pressures the state believes the future can be deferred indefinitely, and eventually everything will be all right. Just be patient and give us more of your time…
Are we any happier without our stolen time? Occupy Wall Street, the emergence of America’s Despicables, Britain’s Brexiteers and France’s rioters all attest otherwise. Now that savings have been depleted, we must borrow to spend. The yellow brick road, which the stealers of our time promised will lead to only good things, is leading us instead into destitution.
The theft of time ends in a credit-driven crisis
The theft of our time through monetary debasement has continued apace ever since the discipline of gold was removed from the global monetary system. This occurred in steps from the early 1930s but accelerated after the Nixon shock in 1971. Prices then began to rise rapidly, as money’s purchasing power declined. The state eventually found a solution to rising prices: it just denies they are happening. The contents of consumer price index is continually rotated and adjusted, which in effect goal-seeks a modest two per cent annual rise.
In the 1980s governments came up with a new wheeze to augment declining savings: lend money to savers through the banks in order to inflate assets and consumption. They did this by repealing the Glass-Steagall legislation, which separated investment banking from commercial lending. Credit became increasingly available for residential property, credit cards and personal loans. The banks gained economic power and profits by creating this credit out of thin air and bankers made fortunes for themselves.
Since the 1980s, the destruction of genuine savings has been offset by the asset inflation fuelled through this easy credit. The excesses led to the 1987 crash, the dot-com bubble in 2000, and the residential property bubble in 2006-07. But the downs in property and financial asset prices were always rescued by yet more credit. Following the Lehman crisis ten years ago, the debasement of money has accelerated, asset prices have inflated, and price inflation has been concealed by the goal-seeking CPI.
The lack of any constancy in the currency allows the state to act without the bulk of the population being aware it is being robbed of its earnings, its savings, its future, its time. The simple truth is that not only is everyone poorer than they might have otherwise been, but they are poorer in absolute terms as well. Every year, the public is robbed some more, to the point where eventually there will be very little left to give, relative to the state’s escalating demands.
We must be close to that point. Only this week, we have seen the Christmas trade in Britain fail. Falling bank shares are an ominous leading indicator. Everywhere, people are less keen to borrow the credit offered by motor manufacturers to finance the purchase of their cars. Credit cards are maxed out. Homeless numbers in England, the ultimate indicator of personal distress, are up 169% since 2010.[ii] Additionally, tariffs, which are consumer taxes and taxes on production, are being imposed on Americans leaving them poorer.
The inevitable and forthcoming crisis is taking us to the end of that yellow brick road. We are not going out in a speculative bang, but with an impoverished whimper, with nothing left to give. And when the state collects diminished returns through taxes, it always seeks to recover them through yet more monetary debasement.
We know it ends in crisis, because history and logic say so. We appear to be on the verge of it, because of the message from the markets. Corporate bond markets in both America and the EU are in a stasis.[iii] We are also told that US banks are pulling the rug on corporate loans.[iv]
They call this deflationary, an imprecise term, which as Humpty Dumpty said, “it means what I choose it to mean”. A better description for what is happening is that it is the consequence of an accumulating and continual theft of peoples’ time by the state through the unfettered issuance of money and credit. Calling it deflation encourages the state’s agents to debase the currency even further, in the naïve belief that it is the antonym of inflation.
Stock markets are now falling, because investors are suspending their belief that the state is in control and can avoid deflation while steering us into a promised land of perpetually rising asset values. But when investors begin to think, as opposed to believe, the awkward questions will start coming. If the currency is being debased, the state will have to borrow escalating quantities of its own money just to stand still. And since the state has taken responsibility for our welfare, in a recession (another of Humpty Dumpty’s imprecise words) the state will have to borrow even more.
Where will the money come from? And at what interest rates? If borrowing costs are rising because we have nothing left to fund escalating state commitments, what of the corporations that calculate their returns based on the rising cost of working capital? Have bond markets and bank lending seized up because the banks have thrown in the towel? Having taken command of our time-preferences, has the state itself finally lost control?
It is only faith that allowed us to believe otherwise. Faith in the state, and faith in its credit. Without that, the state’s unbacked money loses its purchasing power, wasting all that time the state has taken from us. We can redefine the upcoming inflationary slump as being simply the visible destruction of everyone’s time.
[i] JM Keynes. The General Theory of Employment, Interest and Money Palgrave Macmillan reprint 2007
[ii] https://www.homeless.org.uk/facts/ho...g-our-analysis
[iii] https://www.zerohedge.com/news/2018-...nk-bond-prices
[iv] https://www.zerohedge.com/news/2018-...next-recession
The views and opinions expressed in this article are those of the author(s) and do not reflect those of Goldmoney, unless expressly stated. The article is for general information purposes only and does not constitute either Goldmoney or the author(s) providing you with legal, financial, tax, investment, or accounting advice. You should not act or rely on any information contained in the article without first seeking independent professional advice. Care has been taken to ensure that the information in the article is reliable; however, Goldmoney does not represent that it is accurate, complete, up-to-date and/or to be taken as an indication of future results and it should not be relied upon as such. Goldmoney will not be held responsible for any claim, loss, damage, or inconvenience caused as a result of any information or opinion contained in this article and any action taken as a result of the opinions and information contained in this article is at your own risk.
Disliked{quote} Good day Dear loveandpeace You do not have the skills needed to be a Forex trader. You have been instructed many times what to do. You are not able to think for yourself. You do not invest at least one hour a day. You need to move on to other things as you do not have discipline. Please do not take my comments personally. I have known you for many many years so I can say what I just said. Your feedback is welcome. Be safe Be well. BruceIgnored
Disliked{quote} I am already enrolled your 90 days training course, WHEN is my first day of the training class??Ignored
- #11,616
- May 17, 2023 1:14pm May 17, 2023 1:14pm
- | Commercial User | Joined Dec 2014 | 14,165 Posts
Disliked{quote} I already PAID your 90 days training course FEES, when are you going to start the training class ??Ignored
I have started. You are not able to follow or understand. Please do something else. You CAN NEVER TRADE FOREX WITHOUT LOSING ALL YOUR MONEY.
READ ALL MY POSTS. THE LESSONS ARE THERE. I TEACH AND POST EVERYDAY. YOU JUST DO NOT INVEST THE TIME TO STUDY !!!
I HAVE ANSWERED ALL YOUR QUESTIONS.
BE SAFE BE well...
Bruce
438 995 2549
Montreal
Disliked{quote} By knowing where the money will FLOW. It goes from STOCKS when they head down to BONDS. Then it reverses. I will explain more later. I am in the middle of my move to my new home and office. BruceIgnored
- #11,618
- May 17, 2023 2:27pm May 17, 2023 2:27pm
- | Commercial User | Joined Dec 2014 | 14,165 Posts
https://www.zerohedge.com/markets/ba...bonds-battered
Banks Bounce Again As Massive Short Squeeze Lifts Stocks; Bonds Battered
https://zh-prod-1cc738ca-7d3b-4a72-b.../picture-5.jpg
by Tyler Durden
Wednesday, May 17, 2023 - 04:00 PM
Having ignored Target's clear signals that the consumer is in trouble, hopes for a Debt Ceiling debacle resolution and a PR statement from a regional bank about deposits (WAL), combined with a 0-DTE-inspired short-squeeze, sparked a big day for banks (and thus small caps) and as the broad stock markets squeezed higher, bonds were dumped along with gold.
Source: Bloomberg
Regional banks surged (but stalled at a key resistance level)...
https://assets.zerohedge.com/s3fs-pu...?itok=5m0f2TLa
As 'most shorted' stocks squeeze hard (also up to a key technical level)...
https://assets.zerohedge.com/s3fs-pu...?itok=3zCFfFRp
Source: Bloomberg
Ignited by a big push from 0-DTE traders in the Russell 2000 at the open...
https://assets.zerohedge.com/s3fs-pu...?itok=uqOlnb7V
Source: SpotGamma
All of which lifted all the majors higher with Small Caps the biggest gainer...
https://assets.zerohedge.com/s3fs-pu...?itok=0JYczw7P
After being range bound (between the 50- and 100-DMAs), The Dow broke out to the upside today (but faded late on)...
https://assets.zerohedge.com/s3fs-pu...?itok=9dmZFlNL
Treasuries were sold again today with the short-end underpeforming (2Y +6bps, 30Y +2bps)...
https://assets.zerohedge.com/s3fs-pu...?itok=nyAEBsP8
Source: Bloomberg
The 2Y Yield soared up to 3-week highs and stalled (right before the regional bank crisis scare re-emerged)...
https://assets.zerohedge.com/s3fs-pu...?itok=rTSOcLHp
Fed rate change expectations continued to trend hawkish (though only modestly), but rate-cut expectations later in the year are falling quickly...
https://assets.zerohedge.com/s3fs-pu...?itok=EnLW4-RW
Source: Bloomberg
The dollar rallied today, testing the early April highs before rolling over...
https://assets.zerohedge.com/s3fs-pu...?itok=BFqrmolk
Source: Bloomberg
Bitcoin surged today after testing down to $26,600
https://assets.zerohedge.com/s3fs-pu...?itok=2JOT8eog
Source: Bloomberg
Oil soared today, despite a big crude build, as debt ceiling anxiety may have lifted optimism and pushed WTI back above $73...
https://assets.zerohedge.com/s3fs-pu...?itok=lPv7CqI2
Gold broke down below $2000 (Futs), back to six-week lows...
https://assets.zerohedge.com/s3fs-pu...?itok=DA9shTmK
Finally, today we heard from Target about just what a shitshow the consumer is in Q1.. worse in March... and worse in April...but the spin was that yesterday's retail sales data proved they are resilient. That's true except its noise as Bloomberg's Simon White notes, the trend is not your friend at all for spending...
https://assets.zerohedge.com/s3fs-pu...?itok=RXV6Z2z6
Source: Bloomberg
Banks are less willing to make consumer loans, and this points to retail-sales growth continuing to weaken fairly steeply through the rest of the year.
Banks Bounce Again As Massive Short Squeeze Lifts Stocks; Bonds Battered
https://zh-prod-1cc738ca-7d3b-4a72-b.../picture-5.jpg
by Tyler Durden
Wednesday, May 17, 2023 - 04:00 PM
Having ignored Target's clear signals that the consumer is in trouble, hopes for a Debt Ceiling debacle resolution and a PR statement from a regional bank about deposits (WAL), combined with a 0-DTE-inspired short-squeeze, sparked a big day for banks (and thus small caps) and as the broad stock markets squeezed higher, bonds were dumped along with gold.
Source: Bloomberg
Regional banks surged (but stalled at a key resistance level)...
https://assets.zerohedge.com/s3fs-pu...?itok=5m0f2TLa
As 'most shorted' stocks squeeze hard (also up to a key technical level)...
https://assets.zerohedge.com/s3fs-pu...?itok=3zCFfFRp
Source: Bloomberg
Ignited by a big push from 0-DTE traders in the Russell 2000 at the open...
https://assets.zerohedge.com/s3fs-pu...?itok=uqOlnb7V
Source: SpotGamma
All of which lifted all the majors higher with Small Caps the biggest gainer...
https://assets.zerohedge.com/s3fs-pu...?itok=0JYczw7P
After being range bound (between the 50- and 100-DMAs), The Dow broke out to the upside today (but faded late on)...
https://assets.zerohedge.com/s3fs-pu...?itok=9dmZFlNL
Treasuries were sold again today with the short-end underpeforming (2Y +6bps, 30Y +2bps)...
https://assets.zerohedge.com/s3fs-pu...?itok=nyAEBsP8
Source: Bloomberg
The 2Y Yield soared up to 3-week highs and stalled (right before the regional bank crisis scare re-emerged)...
https://assets.zerohedge.com/s3fs-pu...?itok=rTSOcLHp
Fed rate change expectations continued to trend hawkish (though only modestly), but rate-cut expectations later in the year are falling quickly...
https://assets.zerohedge.com/s3fs-pu...?itok=EnLW4-RW
Source: Bloomberg
The dollar rallied today, testing the early April highs before rolling over...
https://assets.zerohedge.com/s3fs-pu...?itok=BFqrmolk
Source: Bloomberg
Bitcoin surged today after testing down to $26,600
https://assets.zerohedge.com/s3fs-pu...?itok=2JOT8eog
Source: Bloomberg
Oil soared today, despite a big crude build, as debt ceiling anxiety may have lifted optimism and pushed WTI back above $73...
https://assets.zerohedge.com/s3fs-pu...?itok=lPv7CqI2
Gold broke down below $2000 (Futs), back to six-week lows...
https://assets.zerohedge.com/s3fs-pu...?itok=DA9shTmK
Finally, today we heard from Target about just what a shitshow the consumer is in Q1.. worse in March... and worse in April...but the spin was that yesterday's retail sales data proved they are resilient. That's true except its noise as Bloomberg's Simon White notes, the trend is not your friend at all for spending...
https://assets.zerohedge.com/s3fs-pu...?itok=RXV6Z2z6
Source: Bloomberg
Banks are less willing to make consumer loans, and this points to retail-sales growth continuing to weaken fairly steeply through the rest of the year.
- #11,620
- May 17, 2023 6:17pm May 17, 2023 6:17pm
- | Commercial User | Joined Dec 2014 | 14,165 Posts
Bruce