johnny, the richest households in the US are in Washington DC and its environs. The ones that our government looks out for are those with the political spirit it seems.
The Labor Department said Thursday that the unemployment rate dropped from 5.5 percent in May. The rate fell mostly because many people out of work gave up on their job searches and were no longer counted as unemployed.
Other details in the report were less encouraging: The percentage of Americans working or looking for work fell to a 38-year low. Average hourly pay was flat. And employers added 60,000 fewer jobs in April and May than the government had previously estimated.
From CNBC -
"In addition to the payroll growth, the unemployment rate ticked lower to 5.3 percent from 5.5 percent, due largely to a sharp decline in labor force participation. A broader measure that includes those who have stopped looking for work or working part--time for economic reasons slipped as well, from 10.8 percent to 10.5 percent."
The broader measure of unemployment is ticking lower slowly even though it is at 10.5% still. I'll try to find some statistics about how many of these new jobs are really replacing jobs that used to be available but no longer are. Not saying service jobs aren't real jobs, just that they don't create real wealth in the way that many jobs used to do.
Oh, I explained to you a while back why Greece wasn't good for gold in the short to mid term. Your problem is you don't listen.
And here is exactly where you go wrong on the CDS issue. You assume that the only people who can be involved in a CDS transaction are people directly involved in the underlying loan transaction the CDS references. Here's what wikipedia says about that.
"In the event of default the buyer of the CDS receives compensation (usually the face value of the loan), and the seller of the CDS takes possession of the defaulted loan. However, anyone can purchase a CDS, even buyers who do not hold the loan instrument and who have no direct insurable interest in the loan (these are called "naked" CDSs). "
Nobody really KNOWS how many naked CDS exist in relation the Greek debt. It may be next to none, it may be quite a bit. Hence, the uncertainty about the effect of a Greek default. As you were just shown, that uncertainty itself is enough to potentially jeporadize markets beyond Europe.
Let's see. Idiotic messages huh. My messages simply said that no one knew what the derivatives exposure truly was but that it wasn't zero (as you asserted). Your messages on the other hand said it was strictly a European problem. Since the market reacted very violently to the downside, I'd say you got that one pretty wrong. It wasn't strictly a European problem and the only thing that kept it, at least temporarily, from being a bigger problem here is that Greece seems to be willing to blink. However, Sunday's referendum may contradict that. Which is why I closed out my SPY calls (based on one of those pinchers you don't believe in) at only a 7% profit for holding them about 2 days.
The Greece problem is probably over for now but the fat lady hasn't finished holding that last note quite yet.
They have already produced gold to sell and sent it to Johnson Mathey. Now, if you mean when they will be mining high grade material, that would be about next Monday, July 5th I think.
And, we should be grateful that that is a possible route to take if a contingency plan is needed. At a cutoff of 7 gpt, RBY still has around 2.3 million ounces grading a little better than 12 gpt even at the PEA predictions (which are likely to predict only 65% of the actual gold recovered at best). So, upping the cutoff grade is something they could do but probably will not need to do even at 1000 POG in US dollars.
Like I said, you know nothing about modern trading platforms. I can chart options prices for various timeframes at will and see the exact price of an option at any point in time. All competent trading platforms these days do that. Sorry you don't keep up with these things but that's hardly my fault.
What contingency plan would you have in place? They are committed. The money has been raised. The mine is in production. They could pay the loan from the pension fund back I guess since they still have the money.
If you think you can't check options numbers, then you know nothing about modern trading platforms. Giving the information needed to check is exactly why I post the specific option, the specific strike and the specific price.
The only time one would play the equity itself, instead of options, for a pincher play is when the equity doesn't have options.
No, not your approval. Just forestalling any possibility whatsoever that you could accuse me of post hoc fabrication. Not going long on market. Going long on a pincher play. As soon as it matures, I'll sell the calls. Just a continuation of making money to buy more RBY shares with. That's all.