hello 2mar$, delayed friday report:
1. continued with gathering of elemental mineral cash to take the gift that was on friday, putting capital to nap. the premium over spot was wider than usual, by about 2x (i.e. 6.7% for coins relative to the more usual 2.5-3.5%)
2. just cleared from e-mail tray
From: J
Sent: Friday, June 8, 2012 12:29 PM
Subject: Fw: Comments - Week of June 4 - thank you mr helicopter ben burnundkaput
continuing w/ strategy implementation per overarching macro and regular programming
ignoring the noise
dear fellowship of heavy faith, given that wastrels saw fit to bid down gold last wonderful night and continued with same this lovely day, i took the opportunity triple-down to what i got monday but expressed my faith through very pretty biscuits / finger sandwiches
the indicated spot gold price at the time of engagement (10:15-10:30am hkt) were
- 9999 coin @ usd 1,671 per troy oz (hkd 13,005 ask / 12,955 bid, or 6.7% over spot
- 9999 bar @ usd 1,633 per troy oz or 4.28% premium over spot (this past monday's buy was at usd 1,662 when spot was at 1,620 or 2.6%)
- 0000 paper @ usd 1,566 per troy oz of imagination
if i cannot do math i would say am noticing that paper and physical is less strongly linked than i have ever experienced; and as if physical is going the way of unobtainium even though there is plenty to go around for all those who seek salvation in central.
the premium of physical over spot is wider than usual as the bank metals desk explicated that they do not follow every wiggle of paper pricing with a squiggle because ... then the guy smiled, and as usual asked when and if i wish to sell back my pt bought from him so very long ago (2004 and earlier), please raise hand ... and smiled again.
From: B
Sent: Friday, June 8, 2012 11:43 AM
Subject: Re: Comments - Week of June 4
Attached is a link to the video of Simon Mikhailovitch's presentation at Jim Grants conference 4/11/12 at the Plaza Hotel in NY.
J earlier sent out the slides.
In case you missed them, they are attached, and useful to follow along with the video.
This IMHO is not to be missed.
Video:
youtube.com |
