Wednesday Night Open Thread : Mandatory Minicamp is upon us
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Highlights from Day 1 of Chiefs mandatory minicamp
Another video!
Discuss. Or not.
Welcome to AG’s nightly Open Thread, drop in and join a conversation, or start one yourself.
Highlights from Day 1 of Chiefs mandatory minicamp
Another video!
Discuss. Or not.
So why has Gold not sky rocketed during the recent stock market issues?
Uganda on Wednesday said recent exploration surveys have shown it has gold ore deposits of about 31 million tonnes and it wants to attract big investors to develop the sector hitherto dominated by small wildcat miners.
Over the last two years, aerial exploration was done across the country followed by geophysical and geochemical surveys and analyses, Solomon Muyita, spokesperson for the Ministry of Energy and Mineral Development, told Reuters.
Muyita said an estimated 320,158 tonnes of refined gold could be extracted from the 31 million tonnes of ore.
Most of the deposits were discovered in Karamoja, a parched sprawling area in the country’s northeastern corner on the border with Kenya. Large reserves were also found in eastern, central, and western areas of the East African country.
Muyita said Wagagai, a Chinese company, had set up a mine in Busia in eastern Uganda and was expected to start production this year. Wagagai had invested $200 million, he said, and its mine will have a refining unit.
https://www.mining.com/web/uganda-says-exploration-results-show-it-has-31-million-tonnes-of-gold-ore/
Those dudes on American TV are toast
Bill Gates thinks this is stupid?
Last | 9:50 PM EDT
22,488.27
+298.97 (+1.35%)
Microsoft co-founder Bill Gates said he thinks cryptocurrencies and NFTs are “100% based on greater fool theory.”
he’s right
One of my favourites by them.
Just over 50 years ago, at a meeting of the world’s top economic powers, US Treasury Secretary John Connally shocked his counterparts by proclaiming the dollar “is our currency, but it’s your problem.” Back then, America wanted a cheaper currency, forcing others to revalue theirs. Half a century later, the global economy faces the opposite challenge: The greenback is hovering at a 20-year high against its fellow major currencies, creating a huge problem for everyone outside America buying dollar-denominated goods. And no commodity is more important than crude oil.
https://www.washingtonpost.com/business/energy/in-the-oil-market-the-strong-dollar-is-the-worlds-problem/2022/06/08/acec9ba8-e6e8-11ec-a422-11bbb91db30b_story.html
The U.S. Dollar remains strong in the foreign exchange markets.
On Monday morning, June 13, 2022, the U.S. Dollar Index (DXY) was just under 105.00.
On June 1, 2021, the value of the U.S. Dollar Index was 89.89.
https://seekingalpha.com/article/4518239-the-strong-dollar-continues
which is killing profits of American global companies the sell mostly overseas and are trying to bring those profits back to the US
Adam Teicher
@adamteicher
Chiefs mini camp practice #2 is done.
Rookie safety Bryan Cook was one of the stars with two picks. Would have had a 3rd but dropped it.
Dropped it? Cut him.
Nice to see, but it wasn’t that high.
Different kind of high?
lovely
“The motivation for all of this is that prices are going up,” said Chester Spatt, a professor of finance at Carnegie Mellon University’s Tepper School of Business. “The Fed is trying to fight that with higher interest rates to reduce demand.”
For consumers, this aggressive approach could eventually bring relief from surging prices. It also comes at a cost.
let’s make your credit costs even more,,,
https://www.cnbc.com/2022/06/15/what-the-feds-highest-rate-hike-in-28-years-means-for-you.html
it is not like poor people are spending all the money to inflate prices…
it seems
Energy, Cost of air Fare, and Autos/Food inflation is the main culprit
Most of us do not fly all over the fricken place or buy cars every 5 months….
so what is driving food and energy? Oil and the cost of producing food and transporting it
just talking to myself it seems
But who decided to change the refineries in Texas to do tar sands North dakota and canadian oils rather than west texas oil? someone got caught out over their skies?
Oil companies are not the primary driver of inflation, massive gov’t spending is.
Global government spending due to Covid response
They sure ain’t helping.
https://www.accountable.us/news/big-oil-posts-massive-41b-profits-in-q1-thanks-to-high-consumer-gas-prices/
Forget for a moment the insane amount of the profits, if their costs were actually going up at the same rate they are raising prices, there wouldn’t be an additional $1.2 BILLION profit in the first quarter. But there is. Massive G spending to help survive the pandemic is part of it, but please don’t ignore what is blatant greed and opportunism. I’m very sure in two weeks we will see lots of patriotic ads by Oil Companies. There is nothing patriotic about what they are doing. Gouging when we can least afford it.
the refiners are the ones making the outrageous profits
RankRefineryOwner
1Port Arthur RefinerySaudi Aramco
2Galveston Bay RefineryMarathon Petroleum
4Garyville RefineryMarathon Petroleum
3Baytown RefineryExxonMobil
Petroleum refining in the United StatesFrom Wikipedia, the free encyclopedia
Petroleum refining in the United States in 2013 produced 18.9 million barrels per day of refined petroleum products, more than any other country.[2] Although the US was the world’s largest net importer of refined petroleum products as recently as 2008, the US became a net exporter in 2010, and in 2014 was the largest exporter and the largest net exporter of refined petroleum.[3] As of January 2019, there were 135 operating refineries in the US, distributed among 30 states.[4]
Who is Marathon Petroleum owned by?
https://encrypted-tbn0.gstatic.com/images?q=tbn:ANd9GcRMl6Mw0IwOb4TkQTUobu5bz4o5t70IMN18wThfEZN8rg&s
Seven & I Holdings, parent company of 7-Eleven, acquired the chain in 2020 and the sale was completed on May 14, 2021.
Um, so let’s focus on demonizing oil corporations, and ignore trillions of gov’t spending that’s backed by nothing? More dollars = less purchasing power, so when prices go up due to inflation, profits also increase – but does the increased numbers represent an increase in value taken in?
Be careful when answering, because they deal in such bulk that even a slight increase in per-unit price can yield massive numbers. Is one cent more per unit being greedy, if it brings in tens of millions in profit? Furthermore, you can’t forget the middlemen all face the same problem with inflation, so their increased costs get passed along down the line.
This isn’t simple stuff, where you can look at a bottom line and understand the system, after all. You can either work to fix the blame on someone, or you can work to fix the problem. So, does blaming Big Oil fix anything?
I shall blame someone thinking that the pipeline was a done deal
transporting crap from basically canada all the way to texas for refining?
the North Dakota Oil fields bonanza by all sorts of exploiters failed
would it not make more sense to transport that to the east coast for refining rather than to Texas which had plenty of oil to refine?
Where on the East Coast is the refinery capacity to handle it? If build we must, where, and at what cost?
The US’ refineries are running at max capacity now anyway, and regardless, diddling with the petrochemical industries’ systems still won’t fix inflation, regardless of any meddling there.
the east coast refiners can only handle light sweet crude
which we cannot send to them from Texas, due to you know,,
so we send our Texas Oil overseas and import our oil to the North east refiners
probably the same oil 🙁
I didn’t see a word here that will affect inflation. Nothing at all about infrastructure and costs, nor about refining capacity being expanded in any way.
Biden could drop prices in general immediately, simply by rolling back all of Trump’s tariffs. Who’s in control here? Anyway, see above. You’re locked on oil, and so my words are falling on deaf ears.
so we send our Oil which we are a net exporter overseas and re-import the same oil is not creating a bonanza for exploitation?
not to mention that Oil is priced in dollars which is at an all time high vs the world?
so I am a greek oil carrier
I buy from Texas and route to Boston the same oil
not sure how the currency translates but say nothing
we are exporting and importing the same damn product?
Your Greek scheme is forbidden by federal law, unless you’re using US-flagged ships. Likewise, the Executive branch cannot impose changes on the Legislative.
As for Biden, I’m not “fixated” on him, I merely identified him as someone who could roll back Trump’s tariffs. Federal spending, while he can influence it, isn’t fully under his personal control. Congress controls the budget, in the end.
I like you, Steve, and I dislike pointing out the flaws in your statements. So, let’s burn Big Oil to the ground, right? Not. So go ahead with your griping about them as the “cause” of inflation, but leave me out of it.
you cannot use US ships
that is the problem
you have to use foreign ships to transport our oil from Texas to New England
Jones Act
What is the Jones Act in simple terms?
The Jones Act requires that all vessels carrying goods between two U.S. points be American-built, -owned, -crewed and -flagged. This policy provides stability to the U.S. maritime industry and helps to sustain 650,000 American jobs, resulting in $150 billion in economic benefits each year.Jun 5, 2020
The Act is making things worse by reducing competition among shipping companies, which forces domestic refineries to incur much higher transportation costs to supply US markets. These costs make US oil less competitive in a cutthroat global energy market.
The oil industry has been an important source of high paying jobs for blue-collar workers in Texas, Oklahoma, Pennsylvania and North Dakota. As demand continues to plunge, refineries are reducing capacity, rigs and wells are being shut down, producers are filing for bankruptcy, and industry workers will soon face furloughs or pink slips. To remain viable, the US oil industry has to cut production costs to hold on to its domestic market share against oil imports from countries like Saudi Arabia and Russia. Repealing the Jones Act and allowing US shipping markets to be more competitive can help with both objectives.
your locked on Biden not realizing that all the issues have been codified by congress over many years
He can do one thing, eliminate the senate filibuster
I am not sure I want that to happen, it is time for the Senate to do it’s damn job and represent all the American people
Um so let’s ignore obscene profits at a time when inflation is already causing grief to millions of people so we can demonize an old stand-by, the Federal Government.
Did you return your Covid checks, because they were not backed by anything? No, no you didn’t.
Pointing out that companies are doing very VERY well in the midst of all this when sky high prices are hurting people isn’t a bad thing, is it?
Profits go up when the cost of the service rises at a rate less than the price it’s being sold for.
TRUTH
My trash service increased 50 percent
Undoubtedly because the Government is printing money and NOT because the trash trucks cost so much more to drive.
Even so, not 50% more.
seems an unsustainable business if your diesal rises some and you have to charge 50% more?
I could drive it to their front gate and dump it!!!
How much did the oil companies jack up per-unit pricing beyond what was necessary to keep up with inflation? The obscenity, if any, lies there.
So, what do you want to do, punish those you perceive as guilty? How, punitive taxation? How will that reduce prices? Price controls? Those don’t work, the ’70s demonstrated that. At any rate, since y’all are fixated on ranting about corporations who are not devaluing the dollar, and not on the entity which literally controls the value of a dollar, I see no point in continuing the conversation, at least for tonight.
seeds were all planted by Trump
If we had shut off Putin from any thought of invading Ukraine….
does blaming govt fix anything?
this this this
(CNN)A suspect who allegedly made a mass shooting threat that prompted the cancellation of summer school events in at least eight Missouri school districts Wednesday is in police custody, according to the Blue Springs Police Department.
“There is no threat to the public and as in all threats of violence, our top priority is to keep the community safe,” Blue Springs Police said in a news release Wednesday morning.
Prosecutors have yet to announce formal charges, but speaking to reporters, Blue Springs Police Sgt. Keegan Hughes raised the possibility of a charge of making terroristic threats, which is a felony.
Hughes described the suspect as a 19-year-old Blue Springs resident. He was identified with the help of the FBI, Hughes said.
I like the hear that. It’s the first step of putting the whole team on your shoulders.