yes i did
just cleared from e-mail tray
From: B
Sent: Sun, November 28, 2010 9:21:34 AM
Subject: Re: Comments - Week of November 29
Pritchard:
telegraph.co.uk
By Ambrose Evans-Pritchard 6:00AM GMT 26 Nov 2010
... "Germany cannot keep paying for bail-outs without going bankrupt itself," said Professor Wilhelm Hankel, of Frankfurt University ...
If he is right – we may learn in February – the EU debt crisis will take a dramatic new turn.
On Nov 27, 2010, at 4:26 PM, J wrote:
Hello a, the sum total of my fears is that I belong to the 99% of the folks that shall be software micro-code magnetically erased, hard drive brillo-pad scrubbed, monitor smashed in, hardware plug-pull zero-state reset, and then be told what to do once I am in position to do nothing else.
The clear and present danger is that we are somehow mistaking a once-in-several-decade move to societal-wide economic destitution and planet-wide political dictatorship for a cyclical downturn that would again be fixed by the simpler inventory rebuild as opposed to blood-and-guts ‘not-a-tea-party’ revolution and exhilarating war of the older style where all sides get to die in mind-clarifying numbers.
I keep telling myself, “this time it is for keeps”.
Should we make the wrong moves and be stubborn about it, we of the married-with-children class shall experience the prospect of waking up at 2:00am in cold sweat, looking at our children and thinking, “what have I done?”.
In the current financial death-match arena conviction is for the dead-man-walking.
So, I keep a very open mind.
Hong Kong class-A office is a bargain at any number between USD 1.5 to 3k psft, compared to Hong Kong class-A residential at USD 2 to 4k per same sft, depending on whether one favors full ocean to complete toilet views. The pricing also translates to the class of girls walking about the building, whether they just drag along to get along, amble or sashay. Not all girls look good sashaying clickty-clack across Italian marble, and only some girls look wonderful even when dragging as long as they get along.
I do not work in a class-A office building. I work from a B-building full of kids’ education/extra-curricular services. I get to look at class-A moms dropping off their kids for tuition. Across the street is the building housing one of the hotter clubs of this town, as well as many modeling agencies and a large yoga work biz. I get to look at all the hotness walking in, out, in, out … sorry, I meant sashaying in out in out …
… …
sorry, wrong script. Now, where was I? Oh yes, Manhattan at USD 60-70 psft is probably an option on the continuity of the empire, is not cheap relative to Cleveland and is very dear compared to Detroit. How much was office space selling for in Berlin 1938? Manhattan was going for free back in the early 30s.
If cyclical, Manhattan is a buy buy buy hard buy.
If revolution, Manhattan shall burn.
I wager Manhattan shall need a large fire brigade.
sunday sermon over. cheers, jay
From: A
Sent: Sat, November 27, 2010 11:44:23 PM
Subject: RE: Comments - Week of November 29
Manhattan office space $60-70psqft how does that compare to HK?
Hedge funds snap up trophy real estate at still-distressed prices
From: J
Sent: 27 November 2010 15:06
Subject: Re: Comments - Week of November 29
Hello a, I came back to HK last night on the late afternoon flight as opposed to the midnight run. I like home.
I am long to very long gold. My silver gold called away. As pricing stands now, my gdx and paas shall also be called away in December n January. I must make another extraction from the cloud ATM in the coming week.
Scanned the news of today and of the past week, noted the Irish situation n the Korean drama, but feel all pale in view of the USA unconventional measures, and quite mild compared to what the QE2 ... QEn measures are supposed to forestall.
We are lucky to have gold as an easy option by which we can escape the depravities of empire and rudeness of money printing. We must give thanks.
Hello m, look see here re vancouver real estate bubble
m.theglobeandmail.com
Note the healthy pricing, impeccable logic, sound economics, and relative to hong kong, after leveling for taxation, equalizing for opportunity, and adjusting for services, making hong kong looking like a bottom dollar bargain, especially as hong kong properties yields plenty over borrowing rate.
Relative to USA properties, either USA properties will get a lot cheaper, perhaps by 80% drop, or HK abodes shall get a lot more valuable, perhaps by another 80%.
I think you are correct, that HK real estate shall drop, but against gold, silver, platinum, and palladium, and more base metals. They four universal 'reserve' metals can easily do a quadruple.
I read the two articles you disseminated for the weekend. They were lovely reads, making one gush with bubbly enthusiasm for engagement with history.
Cheers, j
On Nov 27, 2010, at 4:47 PM, A wrote:
Jay did you have withdrawal symptoms after being in Jakarta so long and do something after hours?? :)
Surge Of Inexplicable After Hours Selling Takes Gold Volatility Index To All Time Low
In addition to the rout in the ES, VIX and GC which we pointed out earlier, there were some additional fireworks behind the scenes in today's after hours session. The CBOE Gold Volatility Index, the ^GVZ plunged by the most in over a year, as the index hit an all time low of 15.92 without the underlying making much of a notable move. The most curious aspect of the trade was that the entire dump occured in the AH session. Many were left scratching their heads over what caused this monstrous unwind in long vol positions: was this the unwind of a massive long ES/short GC arb? We don't know, although if rumors that a major fund is planning to stand for delivery of Dec gold turn out to be true, then obviously someone got confirmation today. Keep a close eye out on the GVZ. Should this price level persist on Monday, then the front futures contract will likely surge.
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A trader whom we managed to reach late in the day had this to say on this stunning move:
Typical course of action for HFT and other commodity pranksters is to shake out new contract holders. They did it with absolute gusto today, shorting thousand of contracts into thin markets. That didn't work. Gold held up. Now, taking into account that peripheral EU spreads are hitting new highs, hedge funds are getting redemption requests etc, why would you go home long ES and short GC? So what they did is they sold ES into and after the close. After that ES/SPY close they can't run these 'start arb' HFT strategies any more that go long S&P and short Gold as well. Gold's closing time is 1:45pm. They had to cover shorts.
If the short covering in paper persists, perhaps the world won't even need the Krieger/Keiser physical PM campaign to destroy Blythe Masters.
And a bonus observation of the gold curve is the Gold February contract, where in the last minute someone bought 2k contracts, which represents 200,000 ounces or about $272MM worth of gold. Not a bad purchase for the last trade on the slowest day of the year.
From: M
Sent: 27 November 2010 03:05
Subject: Comments - Week of November 29
Gold closes the week at new highs!
In Euro terms anyway......
M |
