tag:blogger.com,1999:blog-4815867514277794362.post6216093682280177258..comments2024-03-08T06:18:28.125+11:00Comments on Bronte Capital: My tipper on AstarraJohn Hemptonhttp://www.blogger.com/profile/03766274392122783128noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-4815867514277794362.post-57533128153922878062010-07-23T09:52:18.770+10:002010-07-23T09:52:18.770+10:00Well done to Dominic and his team for seeing the r...Well done to Dominic and his team for seeing the red flags and John for getting the regulators to review Astarra. It certainly has triggered some momentum down in Wollongong which may improve the quality of the local financial planning profession.Alisonhttps://www.blogger.com/profile/02459731094158991850noreply@blogger.comtag:blogger.com,1999:blog-4815867514277794362.post-60064215460500643752010-03-21T22:51:24.386+11:002010-03-21T22:51:24.386+11:00You're an influential guy. It was your relatio...You're an influential guy. It was your relationship with Ken Henry that made your letter to ASIC sufficiently credible to get them interested. ASIC asking questions gave enough credibility for the Herald to publish, which further encouraged ASIC to take it seriously. A letter or press article from Joe Blow would be ignored. At least some people who have had there funds frozen aren't likely to be happy about ASICS actions. Like you say in your submission to the Cooper Review, an Australian super ponzi could go on for years before it collapses. The people collecting pensions now were winners until ASIC stepped in. <br /><br />Could unallocated gold in the London Bullion Market Association (LBMA) be a fractional reserve system unbeknown to most account holders as suggested by Paul Mylchreest http://www.gata.org/files/ThunderRoadReport-10-15-2009.pdf. The argument goes that in 2008 the total quantity of unallocated gold is estimated to be 15,000 tonnes which supports the 2,134 tonnes on average of spot gold trade through London every day representing 14.2% of the pool. This compares to average daily turnover in UK equities of between 0.34% and 0.63% for the 12 months ending September 2009. While members of the LBMA provide no information on the backing for unallocated gold the improbably high turnover is suggestive they are operating a fractional reserve system where unallocated accounts are only partially backed by physical gold. This makes LBMA unallocated gold accounts susceptible to a run and gold is not like a fiat currency where the government can make more. <br /><br />If it is true, unlike the Astarra revelations, your fund could exploit this opportunity.Ken Taylorhttp://urremote.com/noreply@blogger.comtag:blogger.com,1999:blog-4815867514277794362.post-14516882987585910572010-03-19T13:42:36.200+11:002010-03-19T13:42:36.200+11:00Very nice work, again! Would you please take over...Very nice work, again! Would you please take over the Fed? Or at least the SEC?Keith - Hermosanoreply@blogger.com