Listen to our latest Investing Matters Podcast episode 'Uncovering opportunities with investment trusts' with The AIC's Richard Stone here.
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On 29 February 2024, the Basel Committee on Banking Supervision (Basel Committee) announced it had approved revisions to the Core Principles for Effective Banking Supervision. The final standard, which follows an earlier consultation, will be published following the International Conference of Banking Supervisors on 24-25 April 2024.
The Basel Committee has also announced that it will consult on potential measures to address window-dressing behaviour by some banks in the context of the framework for global systemically important banks (G-SIBs). The consultation paper, and an accompanying working paper will be published next month. The Basel Committee will also publish a working paper on an assessment of the G-SIB score dynamics over the past decade.
https://rb.gy/4rpnna
https://www.regulationtomorrow.com/the-netherlands/basel-committee-agrees-to-revisions-to-basel-core-principles-consults-on-addressing-window-dressing-in-the-g-sib-framework-and-reaffirms-expectation-about-basel-iii-implementation/
1 Mar 2024
In this week’s episode of Live from the Vault, Andrew Maguire is joined for the first time by renowned US-based banker, stockbroker, and economist Lynette Zang to talk about the growing sound money movement and ways to preserve wealth.
Lynette takes listeners through an American perspective on the failing dollar and recent developments in certain states, before offering a message of hope: people are waking up to the manipulation of the mainstream media.
https://tinyurl.com/2afyaaa9
Have you ever watched CNN. I also recommend following the senate & congress hearings on YouTube ... type Gaest or Jordan or Fani Willis or the White House .
Best wake up is Benny Johnson or anything Trump / Fox.
GB news also is so much best than SlyNews.... as regards woke BBC news or the woke ITV.... switch it off.
The CNN is priceless for Democrat propaganda 🤣.
GB News are currently facing 13 investigations relating to allegations of fairness and impartiality by media regulator Ofcom. But these investigations don’t seem to be making them change their ways. It’s time to clamp down hard on GB News and revoke their licence to broadcast.
This is isn't about censorship, it's about making sure our news stays impartial.
We don't have to agree with everything GB News does or says, but we should expect all news outlets to follow the rules. Ofcom needs to hold all channels to a high standard and punish those that break the rules.
https://tinyurl.com/5emrv4b3
Allegations aren’t convictions, they aren’t even charges.
Mr tibbles, the BBC has also admitted it has not always been impartial, are you going to refer them to ofcom too, or does that only apply to those stations you disagree with politically?
How's Brexit going all you GB News people ? FTSE100 level - so 10% down inflation adjusted - Nasdaq up 140%, immigration up or down LOL! You lying cheating exploitative Brexit scammers who sol call the gullible down the Swanee are carrying so much bad Karma that I would fear for you but I can't be bothered.
Brexit is fine . we can all see the benefits. the remoaners are still sore , but who cares? enoch was right, sink the boats, nige for pm, shut the boarders, brexit forever.
You need to check your facts Mark,
The UK's Office for National Statistics (ONS) on Thursday said the country had a net migration gain of 504,000 people between June 2021 and June 2022. That number was nearly triple the 173,000 registered the year prior.
The sharp increase comes as British politicians like Chancellor of the Exchequer Jeremy Hunt seek to assure people that it is too early to give up on Brexit, which promised to bring down immigration and "take back control of the UK's borders."
UK Home Secretary Suella Braverman, herself a hardline Brexiteer, admitted the government had "failed to control our borders," just before the ONS figures were released.
The rise was attributed to world events such as the war in Ukraine, Afghan resettlement, an influx of Hong Kongers fleeing Beijing's long arm and students returning as coronavirus travel restrictions ease.
New figures published Thursday show migration added 606,000 people to the U.K.’s population in 2022 — the highest number on record.
The data from the Office for National Statistics is likely to prompt fresh criticism of the governing Conservatives, who promised in their 2019 election manifesto to ensure “overall numbers come down” at a time when net migration stood at 226,000.
The rise also comes three years after Britain left the EU touting more control over arrivals through a “points-based” system in place of the bloc’s free movement of people.
The impact of Brexit on the UK economy: Reviewing the evidence
Jonathan Portes Professor of Economics and Public Policy King's College London 7 Jul 2023
Two-thirds of the British public think Brexit has damaged the economy, while even among Leave voters only one in five think the impact has been positive. This column looks at the evidence across three key dimensions – trade, migration and investment – as well as the overall macroeconomic impacts. The impact on trade overall appears to have been broadly consistent with predictions so far, that on immigration much less negative (and perhaps even positive) and on investment somewhat worse. Perhaps the best estimate of the negative impact on Brexit on UK GDP to date is 2–3% of GDP.
Just one in 10 believe leaving the EU has helped their personal financial situation, against 35% who say it has been bad for their finances, while just 9% say it has been good for the NHS, against 47% who say it has had a negative effect.
Ominously for prime minister Rishi Sunak, who backed Brexit and claimed it would be economically beneficial, only 7% of people think it has helped keep down prices in UK shops, against 63% who think Brexit has been a factor in fuelling inflation and the cost of living crisis.
The poll suggests that seven and a half years on from the referendum the British public now regards Brexit as a failure. Just 22% of voters believe it has been good for the UK in general.
The Vote Leave campaign led by Boris Johnson and Michael Gove had promised that Brexit would boost the economy and trade, as well as bring back £350m a week into the NHS and allow the government to take back control of the UK’s borders.
“The appeal of ‘Get Brexit Done’ was not just about completing the long Brexit process but also about unblocking the political system and delivering on other long-neglected issues. Brexit got done, but this has not unblocked the political system, and troubles elsewhere have only deepened. Many of the voters who backed the Conservatives to deliver change now look convinced that achieving change requires ejecting the Conservatives.
“This shift in sentiment may be particularly stark among the ‘red wall’ voters who rallied most eagerly to Johnson’s banner four years ago, but have been most exposed to rising bills and collapsing public services since. The final act of Brexit may yet be the collapse of the Brexit electoral coalition.”
One of the key claims of the Brexiters was that leaving the EU’s single market and customs union would usher in a new era of global trade for the UK based on trade deals with other parts of the world. Many voters now seem to have concluded that Brexit has in fact been bad for trade. Some 49% think it has been bad for the ability of UK firms to import goods from outside the EU, while 15% think it has helped.
According to a Reuters survey of 30 analysts and market participants, the price of gold will rise during 2024 from this year’s average. Specifically, they forecast an average price of $1,986.5 per ounce in 2024, up from this year’s forecast of $1,925.
This is based on the assumption that global central banks will begin to loosen monetary policy and the fact that tensions in the Middle East continue to drive gold as a safe-haven asset for investors. “Gold has had a long history of being a geopolitical hedging instrument and has performed true to its reputation,” said Nitesh Shah, commodity strategist at WisdomTree.
Most economists agree that the Federal Reserve will end its interest rate hikes and start cutting rates in the first half of 2024, encouraging a revaluation of gold. Marko Kolanovic, head of markets at JPMorgan, advises investors to bet on safe-haven assets such as gold and bonds as tensions in the Middle East escalate, while Goldman Sachs expects commodity yields such as gold to rise over the next 12 months.
This extraordinary demand for gold by central banks, the largest in 55 years, is attributed to a desire to diversify their reserves and reduce dependence on the dollar in the face of a paradigm shift towards a multipolar world that is becoming increasingly evident.
The US banking crisis, geopolitical tensions, military conflicts and the US Federal Reserve’s stance on maintaining interest rates have been some of the main factors contributing to gold’s continued safe-haven asset status for investors and central banks this year.
But beyond the intrinsic capacity of physical gold to maintain its value in the face of economic uncertainty, some indicators suggest that this accumulation of gold by central banks is just the prelude to a restart of the international monetary system and a possible return to the gold standard.
Still, as Carsten Menke of Julius Baer (an international reference in wealth management) says, “A return towards record-highs should only be possible in case of a severe slowdown of the U.S. economy, leading into a longer-lasting and broader-based recession.”
Time will tell how effective this new regulation will be in preventing banks and financial institutions from playing Russian roulette with money that is not theirs. A speculative game where taxpayers always end up paying the price,but that said the value of physical gold as a safe haven seems confirmed.
Drivers of perceptions of due impartiality:
The BBC and the wider news landscape
https://www.ofcom.org.uk/__data/assets/pdf_file/0027/239175/4-Drivers-of-perceptions-of-due-impartiality-the-BBC-and-the-wider-news-landscape.pdf
So these analysts are actually forecasting another real fall in the gold price which of course isn’t good for us but like most forecasters they haven’t a clue
Mr Tibbles thanks for posting this; it is impressive if frightening how successful the fake news proponents have been in tarnishing the 4th estate, the 4th pillar of democracy, so that now made up news is thought by many to be truer than the real thing. Undermining psb’s is a key part of this, and a great success story for Moscow, although it has a long history from Octavian falsely smearing Anthony for his affair with Cleopatra to Lord Northcliffe Goebbels and Stalin, however never has there been technology like this to disseminate falsehoods so successfully, as the St Petersburg troll factories did in recent elections. It is becoming hard to know even when what we read about Cey is true when so many believe what they read on the net that tarnishes those working so hard to give us the truth. So I may not agree with you but thank you especially when you talk about Centamin from an honest if not always informed viewpoint like most of us.