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CEO.CA members discuss high-risk penny stocks which can lose their entire value. Only risk what you can afford to lose.
@MiningBookGuyMoney-Laundering Networks Thrive Amid India’s Cash-Ban Chaos https://www.bloomberg.com/news/articles/2016-12-04/money-laundering-networks-thrive-amid-india-s-cash-ban-chaos#India#CashCrisis#BlackMoney#mbgtrends
Partial Quotes: "While the government has been working to close loopholes -- which Prime Minister Narendra Modi decried as people’s "illegal means to save their ill-gotten wealth" in a radio address last week -- new ones are opening even faster. So far, the policy aimed at reducing the scale of the black economy and bringing more people into the tax net is, in the short term, leading to just the reverse: money-laundering, tax-avoidance, and new opportunities for existing organized crime, the evolution of the long-standing hawala money-transfer system, and the start of new illicit networks."
"Individuals are transporting millions of rupees on trains or vehicles, and the big money-laundering networks have been chartering flights to transport crateloads of cash to India’s northeast from small airfields, the lawyer said."
@Oliver"..While paper gold traders can't seem to dump the precious metal fast enough, physical gold demand is soaring around the world. #India retail premiums are spiking (amid demonetization), local #China premiums soar to a 3-year-high (as capital controls loom), and coin sales from the US Mint have risen for the 4th straight month, accelerating post-election to the highest since July 2015 since Trump's victory at the election.." $GLD#gold#physical
@Nickhttp://trib.al/ikWGuPX Australian government floats $100 note removal
Liberal Democratic Senator David Leyonhjelm hit out at the proposal, saying “the only people who are distressed by the cash economy are the government and the public servants who want to spend taxes”.
“But with my libertarian hat on, I think the solution is to lower taxes so the incentives to avoid paying taxes are lower.”
@MiningBookGuy@anonymous - thanks for your thoughts here. great point about people stealing metal a few years ago...i remember a few of those stories as well.
i feel bad about all catastrophes...but especially the 'man-made' ones, where we know for sure they did NOT have to happen this way. unfortunately, #venezuela is the best current example of this, and i am concerned #india is one that is starting to go down that path now...other countries as well that are less well-known/reported, and surely more to follow.
@nlepanIndia’s gasoline consumption continues to grow rapidly as an increasing number of individuals purchase their first motorized vehicle, helping drive the fastest growth in fuel demand in the world. India's gasoline consumption has increased more than 12 per cent in 2016 compared to 2015. Consumption is being driven by an enormous increase in the number of drivers on the country’s roads for the first time. http://www.reuters.com/article/us-india-gasoline-kemp-idUSKBN14U1Y8#energy#India
@nicholaslepanAn initial public offering of shares in Indian stock exchange BSE Ltd to raise up to 12.43 billion rupees ($182.42 million) was fully subscribed on the second day of the sale, stock exchange data showed. More than 250 shareholders, led by Singapore Exchange Ltd, were selling up to 15.4 million shares in Asia's oldest stock exchange at a price range of 805 rupees to 806 rupees per share. http://in.reuters.com/article/india-bse-ipo-idINKBN1580QH?#exchanges#India
news_botIndia's minuscule #gold mining industry
http://www.mining.com/indias-minuscule-gold-mining-industry/#mining#India There is only one single gold mine. The Hutti Gold Mine in the southwestern state of Karnataka is an historic mine (production started in 1902) and located in the same greenstone belt as Kolar. Hutti produced some 45,000 ounces in 2015 and even after adding gold produced as a byproduct of copper mining on the subcontinent, India's gold output is little more than 60,000 ounces. In February 2016, London-listed Vedanta resources became the first private company to successfully bid for a gold mine in India $VED.L
@hunter#PiercePointshttp://tinyurl.com/zbnd6lr Current reversal in dore gold buying in India due to import taxation issues has caused India’s gold refiners to fall to 25% of capacity - 75% of refining output idle. Ramifications to miners supplying the dore - Ghana, DR and Peru most affected. #gold#India
@nicholaslepan#India has extended anti-dumping duty on some steel products from China by five years, in a bid to retain protectionist barriers and stem the tide of cheap foreign products. Between April and January, India's steel imports fell 37.8 percent year-on-year, data from a government body showed, primarily due to the slew of protectionist steps announced by the government. #chinahttp://in.reuters.com/article/india-steel-antidumping-idINKBN15Z1CK?
Chinese #steel rebar 25mm US$555.5/t vs US$538.2/t
#Iron ore 62% Fe spot (cfr Tianjin) US$87.5/t vs US$87.1/t
Premium hard coking #coal Aus fob US$150.0/t vs US$150.4/t