The Good Morning Report – 20th of June

1. NVIDIA looks to be in the greatest bubble in the history of mankind…..I’m expecting to wake up one day and see a record breaking $1 trillion wiped off it’s market cap in a single session.

2. Great to see Dutton put out plans to build 7 Nuclear power plants in Australia…Maintain BUY on URNM.

3. SILVER is still trading around a 14% premium in China vs COMEX…..Miners selling at the discounted COMEX price are absolute morons….They should be demanding the Chinese price – fullstop, end of story.

4. SILVER is now into it’s 4th year of deficits therefore miners should be calling the shots, not grubby bankers and hedge funds who set the price via the paper futures market.

5. Warren Buffett is frothing over OIL and GAS at the moment; he continues to accumulate Occidental Petroleum shares and now owns a 29% stake….Got to think WDS and STO on the ASX are ready for a big move higher.

ASX 200 down 8 points to 7789

Not a lot of action on our market. QBE was the worst performer in the top 200 – it fell 4.25% after providing a market update. My biggest concern with QBE is their investment portfolio – who truly knows what ticking time bombs these guys are sitting on. I cut the below from QBE’s 2023 annual investor report where they are admitting to investing in all sorts net-zero scams….

One day the CEO will make an announcement and say ‘Oopsie daisy – those climate change projects we invested in didn’t pan out the way we thought and actually inflicted quite a lot of damage on the environment. Sorry! (as he goes off to collect his fresh, multi-million dollar performance bonus for sticking tampon dispensers in the male toilets)

Don’t worry guys, property prices will never fall here….Airbus Albo plans on flying in a billion fresh faces, so gorge on all that sweet, sweet debt and YOLO the crap out of it. GO Australia!!

  • SPI is down 23 points
  • Bitcoin up 0.3% to $65,012
  • BHP in US was SHUT
  • Newmont in US was SHUT
  • URNM in US was SHUT

Movements affecting our resource stocks today (USD)

  • Gold down 0.18% to $2342
  • Paper Silver up 0.9% to $29.83
  • Platinum up 0.56% to $982
  • Palladium up 1.8% to $905
  • Copper up 0.43% to $4.51
  • Brent Crude FLAT @ $85.27
  • Iron ore up 1% to $107.30

Japan up 0.23%, Hong Kong rallied 2.87% and China off 0.4%

The financial storm coming is going to be one for the history books – if this is not the mother of all dark red flags then I don’t know what is…..AVOID Financials, AVOID Bonds.

DOW SHUT for a public holiday

More evidence the Yanks have completely and utterly lost the plot….Little wonder the BRICS are creating their own financial system to avoid using USD.

Germans down 0.35%, Brits up 0.17%, Frenchies off 0.77%

UK inflation hits target is such an Orwellian headline….Do the people now have to bend the knee to the governor of the Bank of England who has crushed the purchasing power of their money?

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