Temerity Card Game is now live on Kickstarter!

 https://www.kickstarter.com/projects/temeritycardgame/temerity

revisiting my old blog <3

Moved: New Blog

I have not played poker for 6-7 months and I am going to London to start my trading journey, follow me on my new blog!

http://www.norhino.blogspot.com

This is my last post, cheers,

Dan

Currency Crisis

I have recently consumed myself in every bit of news and listened to Peter Schiff, Ron Paul and many others as well as people with different views on the current situation in the US economy. The desperate attempt by people like ben bernanke to artificially stimulate the US economy is just making matters worse, as his solution is to print more money and to give it to the banks and businesses such as Freddy and Fannie, which now have 100% of their loses covered by the government. The government is getting bigger and bigger, intervening with the free markets. The housing crash was brought about by too much easy credit, you only needed to put down about 5% to get a house, and people believed housing prices would just continue to rise I mean how dumb is that. After the crash what then would have happened would be that lenders would tighten up on lending and be more cautious to lend to people who were too likely to default. But the government stepped in and said we will guarantee the loans so then people started to lend, the interest rates were also set to 0%, encouraging no one to save and again encouraging people to take risks they wouldn't have had the government stayed out of the free markets. The government encouraged more spending, more debt in many ways.

The country is massively in debt and they desperately need to let companies that are failing to be productive fail, let resources be bought up and let new companies start up, which aren't owned by the government and aren't a drain on tax money. They need to allocate resources to allowing the country to be productive again. The only reason this has been able to go on as long as it has is because the US dollar is the reserve currency. If you look at England, who is closely linked with US, our debt is a bigger percentage of our GDP and I am sure it would be less if our currency was the reserve currency. With the US, their currency used to be backed by gold so they convinced people to trade with dollars because it was good as gold, and gold is real money, but since they moved of the gold standard it no longer applies, it allowed the government to borrow and spend and now the world is realizing. It is inevitable that the dollar will eventually become worthless, it has always happened in history, it cannot hold its value forever. The problem is the dollar isn't backed by anything only faith and the world is losing faith. They have good reason to because the US is based on borrowing money from china to buy more stuff, and china are just giving the US money because they would lose even more if they didn't. China are slowly trying to move away from the dollar and have said they are buying gold on dips only because they don't want to push the price up. Really its a lose lose situation whatever china do, but its only a matter of time until they stop lending the US money. I believe soon a currency crisis will hit the reverse currency and seize to exist.

I am still in Mwana Africa, but only just, it has slipped to 12.5p but apparently it seems to have strong resistance slightly above 12p. A strong buy imo and I am in for £600 now but if it slips 1p I would be out.

Merrwaarrna

Well Mwana Africa has slipped a little so far, I topped up to £400/p. Also I have made £650 currently on betting gold would go up since friday. I placed the bet straight after the 4% drop after the news of dubai. Pretty surprised Mwana Africa hasn't made gains considering the price of gold. I read some more articles on gold and still expanding my knowledge, all very interesting.

Im predicting good things for mwana africa today, currently 0% change. Also Mwana Africa release how much gold they have mined in novemeber on the 10th december.

ya, this is now my stock market journey blog :)

No poker played since I last posted about it

MWA + 1 week

After the first week Mwana Africa finished up slightly, It rose 12% on monday but was likely due to a positive boost from the telegraph. I think gold will continue to rise strongly due to the dollars weakness. It is interesting to see China and India buying up all the gold they can, it looks like China are trying to become less dependant on the dollar. As Peter Schiff says, China are only lending the US money because they would lose more money if they didn't. I think as time goes on and with the US goverment consistently making wrong decisions by trying to fight the recession by artifically stimulating the economy the price of gold will only go up. This will increase the profit margins of mining companies and I think mining right now is a good investment.

Mwana Africa's share price dropped from 80p to 2.5p due to the collapse of their currency (zimbabwe dollar) and their mines then closed. It is only recently they have recieved funding to reopen their gold mine and with increased profit margins on selling gold they have great potential to do well like they orginally were. They also have deposits of nickel and copper I believe which should open once they earn enough from the Freda Rebecca gold mine. Their share price is on the road to recovery and I believe they were in better position for the future now than they were before trading at 80p a share. I think perhaps the politics in zimbabwe could be holding the share price back, but the fundamentals for mwana still look good.

Mwana Africa PLC

Well badugi is meh, limit is pretty boring, i had a smallish winrate after i mega tilted lol and i ended up playing $5/$10 and making $120, withdrew and then lost $100 playing pot limit badugi, it was pretty rigged losing with 7 high badugi's 3 handed, people called incorrectly played awful and sucked out. Just done with poker and moving on to stock market :)

I had been betting on Mwana Africa since it was at 5p in July and its now at 14p, made £90 (betting £10 a point) and things are looking really good for the future. I been researching loads since July and decided to go ALL-IN with this company so to speak. I will risk ~£900 and bet £290 a point/penny on it going up. Lots of good news for the company, i.e rise of gold price, lots of funding and now there trading in USD after the collapse of the zimbawbe dollar, risky investment perhaps but could be good to go back to 80p which would bring a £20,000 profit!

Hold'em -> Badugi

I carried on to about the 20,000 hand mark at $200nl. My win rate was about 3.5ptbb/100 but we blew some money on tournament poker and short stacked once at 5/10 for fun and lost a flip. Anyway I started working recently and as I was getting tired of hold'em I withdrew and paid my friend £760. Awesome to have played $200nl but I don't think I can play without tilting right now. I was keen to reach my targets but I just burnt out so fast playing, I really have lost love for the game itself and only enjoy making $$ which isn't a good recipe for winning, but..

I recently started playing Badugi which is really awesome, its my 2nd attempt at playing it and I think I understand a lot more this time round. Tonight I will 3-table 0.25/0.5 on poker stars, it will be my 3rd night playing and hopefully post a graph soon!