hello pezz, today's report:
(i) recovering from meetings on the beaches of bali off of ayodya resort. monday is a hk holiday, will view dragon boat racing in neighborhood on swiss team chartered boat, complete with euro picnic, to be followed by easy and lazy dinner in neighborhood. so, all the better for recoveries
(ii) bought intrepidmines.com in australia @ aud 0.340 finance.yahoo.com
(iii) completed collecting intrepid in canada finance.yahoo.com at between cad 0.30 and 0.32
(iv) happy with overall positioning, in hk real estate, global energy of all flavors, gold, silver, platinum, and oh, cash
suggestion to bernanky spanky helicopter burnandkaput: inflate away everything
(v) difficult to be convinced about what would happen here, there, and everywhere, i.e. whether israel will attack iran, or whether more choppers will fall out of the skies of iraq and afghanistan, or commodity exchanges will be shut down, or enormous pension funds will revolt against central banks - the drama could be fierce
(vi) nothing matters in so far as empire's election is concerned. whether obama or mccain wins makes as much difference as who rules over in tobago. the words 'boxed in', 'cornered', and 'checkmate in three' come easily to mind
(vii) big month coming up, three panamex ships will move a whole lot of coal within a very narrow window from china to philippines - not quite a peak record, but still quite a task, and then must nail down agreed contract for 2008-2009 delivery, and start positioning for 2009-2010 with the new leadership on one or the other side, as well as optimizing 2008-2009 deliveries - the digging must never stop in china and the lights must never dim in the philippines
(viii) recommendation: hoardeverything (build inventory, and do not call it speculation)
(ix) have signed up for november course on paper coal speculating (oops, i meant hedging) - now paper vs physical trade is about 1:1, eventually to go to 10:1 no doubt, and so the physical folks must also participate in paper, else may be blindsided - we will see
(x) maybe there is a case to be made for organizing a coal fund backed by physical - security would be an issue - perhaps charter and sink old boats :0)
(xi) a reminder, the age of hoarding, motivated by bad cash chasing out good money, is upon us, i figure, and nothing officialdoms do can have the good money back, except 18% overnight rate or monetary reset, i suspect
Chugs, TJ |
