Hello Elmat, I generally to not make one-way bets where I have to be right or I am ruined. I usually spread my risks all around, sampling many and favoring none. My currency allocations qualify as a ‘near one-way bet’ because of my USD denominated status and the distance I have ventured from USD in the past 18 months. So far, the allocations turned out so good, but not good enough, yet, if ever.
I had made arrangements to position enough cash of all flavors in an account wrapped around a paper-gold sub-a/c. My current intention is to make a one-way speculation at a psychological moment, casting a vote, contributing some fire-power, making a difference in the raging battle of the gold war.
Last night’s trading was weird again, and we have had several episode of the same where presumably very large institutions direct their minions to do this and that, sending stocks up, dollar down, gold down, all on the same set of supposed news. Most interesting. The anticipation quotient of most market participants is I believe quite low.
Speaking of anticipation quotient, there is this …
Message 17485588
May 19th, 2002
<<It is not just about the USD any more, it is about intrinsic value of all that we have worked for and saved ... with airline mileage points, and the airline industry, like the FED, has printed too many something, and on Tuesday I will instruct my travel agent to turn in my 3 mm odd mileage points on various programs for good-for-one-year round trip tickets to all kinds of locations, because the 'mileage currency' has an intrinsic value of less than 3 mm points. My bet is a 90% devaluation.>>
Chugs, Jay |
