Hello Pezz, Today’s Report:
Got out of bed at 5:30am HK time as usual, which is 4:30am Koh Samui time where I am.
I like the early-to-bed at 9:30pm and the early-to-rise routine, giving me quiet time to ruminate, reflect, plan ahead and/or react, and allowing me full-time play with the Coconut when she searches for me at around 8:30am HK time, about an hour before the same same same breakfast of crispy bacon, warm toast, scrambled eggs, creamy butter, lovely marmalade, delicious tropical fruits, and fantastic coffee. I am not much for variations on successful formulae.
Yes, as I had warned, my holiday time again, and so might be market perturbation moment as well.
We, meaning my daughter Coconut, wife, Coconut’s playmate, wife’s classmate and Swiss banker, and his consulting wife, and my Swedish-German-American French Creole Hakka Chinese cousin and her Italian boyfriend have no particular plans while here on Koh Samui. We just scheduled daily massages on schedule, along with daily pre-dinner snacks.
Now to the financial scape and the grand struggle against the prime evil inflationists and gaming against sub-prime evilette wastrel electorates.
I purchased some more Bekaert finance.yahoo.com during all the confusion on wall street, believing I am looting a burning house, hoping that I got the contents of the vault as opposed to the garbage can; we will see. I am now at 13x of original starter stake.
Message 24203532 @ 84
Message 24797777 @ 93.16-93.25
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On other matters, the overnight libor rate appears to be at 6.88%, meaning the 3-months LIBOR may have to move at some direr moment, and when so
I believe there are 360 TRILLION dollars of borrowings tagged to the LIBOR + x formulae, including juicy hk tax-free and fuss-free real estate 100% of which are on monthly-adjustable rate of libor + x
All looks promising from samuivillasandhomes.com perch for the sort of creatures that pray and then prey :0)
I understand the clueless elected American wastrel socialist legislators are considering easing the accounting rule for banks balance sheet on ‘goodwill’. Perhaps they also intend to fund baby-boomer’s future needs on goodwill. How much goodwill does it take to exchange for a cup of Starbucks ice mocca? Will anyone lend us enough goodwill to buy a house ocean view villa on Koh Samui? Will sub-prime evilette cb ilaine work for good will?
Already checked with the owner of my temporary abode, and he seems not enthusiastic about trading the holiday abode for any goodwill I may be able to find in my generous heart.
I am still undecided on what precisely would happen when the largest cyclotron is switched on, and the particles of stupendous fiat money inflation is sent hurtling toward unstoppable and elemental credit-contractionn deflation - strange quarks or a mini black hole to result? We will soon find out.
As a partial opt-out on the grand particle acceleration experiment, I still recommend the stable material gold, with its 79 spinning electrons, for it is pure, true, and good, and best if we hoard more than our fair share while it is still dirt cheap, at 1981 price level.
My premise is that while the USA empire is unsustainable on goodwill wrapped in a lie, no nation of substance will allow the USA unit of exchange to materially fall, meaning the old script of fiat money inflation inflamed by competitive devaluation, and further complicated by mob-influenced political decisioning process will hold very true to form, and before the direst moment, we ought to be as close to 100% allocation to gold as possible.
In some sense we are fortunate, for we are blessed with economic lesson of once in 3-4 generations, and let us learn at internet accelerated pace how wrong the charlatans truly are.
I trust that soon enough cash will not be king, but life itself, should events go the dire way.
I still like gold, especially for its features that it cannot be counterfeited, is difficult to trade in the physical form, cannot be speculated at the push of a button, so hard to leverage against, shiny, eternal, not at the mercy of counterparties, pure and good.
I remember how handy gold was during the Asian Financial Crisis, a casual-dress rehearsal for what we are about to globally experience. I believe we are being blessed with a valuable education of several generations.
Chugs, TJ |
