Hello Pezz, Today's Report: A black and yellow GUDD day.
Besides watching Rita and thinking Katrina, I am working at home on this Thursday of a shortened week (this past Monday was a holiday), so that I can visit the town tomorrow, coincidentally a Friday, lunch with buddies and ruminate over what is apparent and what is.
I just took the first of what ought to be enough loot from my latest paper certificate gold trades, at what I consider to be a reasonable-for-now price, falling back to a safer position before the counter-attack by the Central Banks starting September 27th, the first of 365 days of yet another Washington Agreement gauntlet for gold bugs.
I do the sales even though there are a lot of zeros in the trillions of defaultable debt out there, because the deficit countries will have to sell there gold, like the good old days, to cover the shortfalls, like the good old days.
This tranche of loot ought to cover my upcoming holiday in Thailand adequately.
I generally prefer to be at the front of the line, see what's coming, and either step forward or fall back, eyes wide open in the first case, and in wild panic in the second. I fool myself into believing I am able to do so.
I will sell more, and only the paper gold, and ultimately all my paper certificate gold position as and if gold prices rise.
I hold physical gold, and trade paper (now 16% of total physical+certificate PM position) gold, so that I do not make the mistake of ever being out of all gold position, and am in position to generate paper profit so as to better solidify the physical hoard.
BTW, I still hold every single ounce of my platinum bullion hoard I have ever bought starting in 1983. The Koala coins are resting comfortably in a box underground ... sometimes I suspect the central business district banks in Hong Kong is a bigger mine with higher purity/grade than the best in Australia, Canada, S.Africa.
It is a good thing, else the moolah could easily have been lost in one dumb way or by another clever schema.
Chugs, J |
