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I’ve got an extremely busy week ahead of me, so while I will attempt to log in as much as I can, I don’t expect I shall be my usual garrulous self. I’m traveling out to Southern Bustopia on the West Coast, and I hope to be safely wheels down before the airport bonds go teats up, and the baggage handlers start throwing Molatav cocktails at the TSA while storming the control tower.
I expect I may end up having to be Hummer’d out — a la “Mad Max: The Road Warrior” — so I’ll be bringing several ingots of .999 silver to pay for the petrol and extra ammunition.
As far as that goes, this week may be a good week to trade some silver in for consumer goods like eye black and B.A.R. rounds, if you are so inclined. A nice plow and a brace of oxen wouldn’t hurt to hold in reserve either, if you’re agriculturally minded. You see, with regard to precious metals, I think we may see a dollar respite here, so I sold another 10k of EXK on Friday, bringing my position down to about 30% of my original peak.
I also divested myself of some IAG, some GSS, some CDE, a touch more SLW, half of my PAAS, and about 30% of my ANV, with the remainder of those both being hedged, along with hedging most of the rest of the portfolio I didn’t choose to sell. I now have egregious amounts of cash with which to buy what I believe will be a forthcoming dip in the precious markets that I believe we’ve been holding out for since early December.
I may be wrong, and if I am the first thing I will be purchasing is AGQ. I will certainly let you know.
God bless you all, this night and always.
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the idea of selling an ingot made me throw up in my mouth a little.
Ha! Sometimes I take TOO much license!
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I’m very weary of the markets here. I fear inflation is going to catch up with us (in the areas of food and fuel prices especially) and weigh on global growth both through tightening measures and sapping purchasing power. Asian, emerging market, and the Euro-economies are especially susceptible. Of course they will be powerless to stop it as it will all be emanating from The Bernank. The market is simply not pricing in this risk.
Gas was $3.14 in my station this morning.
You don’t hear a lot about this stealth rise, but you may remember what happened after the last time we had an extended period over $3.
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Nothing to see here. Food and Energy are accounted for in CPI already (and weighted at about 0.000001%) toward overall importance. Which we feel is more than generous. Carry on. Business as usual. We are on target for 3%. We have already taken into account that mens wool pants this year a superior to mens wool pants made last year and calculated in such unarguable certainties across a broad spectrum. Yes these shifts are always strongly positive. Include taxes in CPI? Silly notions. We only did that for a while. Other countries have mistakenly clung to this barbaric practice. Thanks for calling. Back to watching TV with you.
CPI is the most fudged government number of them all. A decrease in quality of product offered at same price does not affect CPI whatsoever.
And to be fair — vice versa. Consumer electronics advances have battled inflation for years.
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Valid point Mr. Gint.
But irrelevant. They already account for improvements in technology via “the hedonic method of quality adjustment is used by at least 11 of the 29 other OECD nations” There is good reason for 2/3 of OECD nations to resisting really bad tinkering with their statistics. For example, on their hedonic page http://www.bls.gov/cpi/cpihqaitem.htm. Are mens Wool pants really that much better than they were 30 years ago? 1 year ago? Answer = doesn’t matter. For example computers. When the average American goes to buy a computer, they are still using it to e-mail buds, look at ladies, and play games. Do better graphics cards help the overall economy to the amount implied in distorted hedonic numbers? No. Did a color TV vs. black and white help the economy very much? No. Flat screen? No. Yes they are cooler, but to make a hedonic adjustment because your clothes dryer has a digital switch instead of the old pull-out knob is just plain stupid. Jack Handy from Saturday night live signing off.
I think improvements in speed and quality of computing power have led to vast improvements in information flow, which leads to a deflationary bias.
The least among these is the ability to price consumer goods… higher volumes, lower prices, etc.
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Yes. Businesses have general efficiency gains for sure thanks to the computer. I do about the equivalent today of what 6 geologists with 3 techs and two draftsmen did 45 years ago thanks to great computer programs and plotters.
But was it deflationary when horse groomers became phased out due to technology? When weavers were replaced by textile factories? etc.?
Yes, for sure. Cheaper clothes were able to be mass produced.
Truthfully, there was very little inflation in the 19th century, because of the gold standard.
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Just buy the fucking dip.
No.
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BAR? They still make rounds for that? Def. my favourite weapon from doubya doubya two.
1918.
In service til the 60s.
Have a good trip…
Was the Seattle run the greatest in NFL history…I say YES ….I don’t even think its close?
http://www.youtube.com/watch?v=eQULIUXZst8
It was something else.
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This is NOT an Onion article, I promise.
It appears there is a union for EVERYTHING.
Great solution to the shrinking union jobs problem though… for unions bosses at least!
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Hahaahaha. THat’s the stupidest idea I’ve ever heard of. Soooo funny. With a thoughtful sombre minor chord at the end.
I must agree on this point Jakobian.
I personally think the inflationary pressure you are seeing is temporary, Broyhill Asset Management did a good piece called The Great ‘Flation Debate which I must agree with.
http://www.viewfromtheblueridge.com
That looked like it was about portfolio diversification?
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Jake don’t pretend to be busy, the weather is great in Perth!
Are you really awake in the middle of the night like this? It’s 4 am over there!
And it’s mid 90’s… too hot, but then I guess it’s your summer, right?
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You still like GSS at these levels?
I am not touchimg anything at the moment, and I boosted a lot of GSS last week.
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Looks eerily similar to little gint.
Yeah, except for the dark hair. That’s why I grabbed it.
Thanks for the apps! They were very excited, though not as much as Dinosaur Hand Boy!
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Stock up on the sandpaper to get that shite off!
Glad they liked them. Knew little gint would get a kick out of the tats.
He gave his brother one this morning (snow day), so they could do “dino wars”
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About 30% of my portfolio is in Vecta VER as of now. Watch the next week or so as it grows for me. Current top picks: CEX, MMT, DEI, VER, OK
http://www.sltrib.com/sltrib/home/50949183-76/gold-state-utah-coins.html.csp
If I were a resident, I’d keep my gold and pay my taxes with worthless Federal Reserve Notes …
Yeah, or in this case, overpay your taxes, and make them pay you back in gold & silver ingots.
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Nice … gotta get a Utah Chalet
http://news.myjoyonline.com/business/201101/59065.asp
I demand those ungrateful bastids be fired at once! Then GSS can spin it and take credit for ‘creating’ one thousand more jobs.