Hello Pezz, Today's Report:
(a) Japan stockpiling food, and China just cut off Hong Kong's grains;
What's next - Arabia jacking up oil price to compensate for monetary inflation, and round and round the poison goes?
(2) Great Wall Coin called me early AM, informing that its parent Bank of China branch at 71 Des Veoux Rd had found a stash of 2007 gold Pandas at the back of its vault and asked if I would like to have them.
As gold is well under-priced relative to iron, nickel, zinc, and the various grains, I did the deal of exchange and took in the whole stash, passing to them my worth-less paper.
Interesting that even in a non-gold standard monetary regime, highly inflationary via money expansion and credit enlargement, capital is still best hoarded, consumption suppressed, so that bargains, relative to eventually recognized gold value can be exploited at a later date.
One note of concern, given the hour of the call, I mus have been the first one they called, and if so, perhaps I have bought too much from them relative to others, and so maybe I have more than my fair share of the preciousness.
(3) Gold, recognized or not as a standard, is in fact the standard, and the price of much is and will shrivel against it, and the GDP depression, when priced in ounces, is full on.
(4) I do note that, after picking up my new stash, the sun seems brighter, air warmer,girls prettier, look at me more, longingly, and I generally feel more robusto.
Strange thing, this gold, metal of faith, mineral of tradition, and element of strange attraction.
(5) Now that I am better hedged against land shortage in HK, paper money disasters around the globe, and energy shortages on planet earth, I will turn attention to the issue of grains and sugar and such breakfast essentials.
Chugs, TJ |
