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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: Maurice Winn who wrote (154987)	3/22/2020 9:30:10 AM
From: Follies	3 Recommendations Recommended By Maurice Winn pak73 Reilly Diefenbach Respond to of 218125

Summary = Tradable Ctizenship Rulz. Citizens own the state. I wish we could just get the government to agree that only citizens vote and it is enforced.

To: Maurice Winn who wrote (154987)	3/22/2020 7:19:06 PM
From: sense	Respond to of 218125

There's a trap inherent in that... unless... First, citizens own themselves... which also requires full private property rights are respected... you are your own property, and property rights are respected... or else the claim that you are free to choose is rendered meaningless. You are free to choose to whittle whistles of willow if you will... but if we simply confiscate them... what real value is there in your freedom to make any choice ? Property rights must be sacrosanct for your ownership of self to matter ? Second, the people are sovereign. Third, the state serves the sovereign... and does so in good faith... or the social contract is null and void. Assuming those basics are covered, the clearest way to obviate the subversion of self ownership, as all individual freedoms... is to ensure that, in law, no contract enabling that effect is ever made enforceable... and that enforcing such a contract is a crime. That's why slavery was an issue historically... as contract law allowed it ? Your freedom could be sold ? And that's why slavery remains an issue today... as the limits of contract are not that clearly defined. Which property and which rights must be prohibited being subject to commerce... if we are to remain free ? Without addressing each of those issues in fundamental law, but also in the structure of contract and commercial law... the broad meaning can be lost in the details in the noise. Then, also, the element of choice giving mobility in citizenship would be little different than your choice of mobile carrier: Yes, you have "a choice"... but when none of the choices on offer are actually ones that liberate you from monopoly control, or from a rule set you cannot truly and don't agree with, or that you clearly don't benefit from, and cannot control only by exercising your choice ? Limits on state power... yes, necessary... but also, limits on private power and private action... where it impinges on those same sphere's in which we deny the state any power... Otherwise, the state will merely contract to "outsource" the subversion of your rights ?

To: Maurice Winn who wrote (154987)

3/23/2020 11:02:08 AM

From: TobagoJack

1 Recommendation

Recommended By
Secret_Agent_Man

Respond to of 218125

Gold gold gold and ... did I forget to mention, gold

bloomberg.com

Gold Investors Are Betting That It’s 2008 All Over Again
Elena Mazneva
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Gold’s haven reputation took a serious beating, with prices tumbling as investors sought to free up cash amid a broad and devastating market rout.

Sound familiar?

Sure, it’s the story of gold for much of this month. But that’s only half the answer. It’s also a scenario that played out in the depths of the 2008 global financial crisis, right before gold started a years-long rally that culminated in the 2011 price record still in place today.

For many analysts and investors, the parallels with 2008 suggest there’s a good chance that gold will bounce back strongly after this month’s pummeling.

“If its price trajectory proves similar to 2008, we could see the precious metal’s benefits resurging as market stress continues to assert itself,” said Catherine Doyle, an investment specialist in the real-return team at Newton Investment Management. “We continue to have significant exposure for this very reason.”

Spot gold rose 1.2% on Monday, after the Federal Reserve announced a massive second wave of initiatives to support a shuttered U.S. economy. Prices have still dropped about 11% from a peak on March 9, amid wild price swings. In late 2008, gold lost more than 20% over a month to bottom out near $700 in November, before haven buying returned.

While there’s concern that the impact on the global economy from the coronavirus could be worse than the last global financial crisis, many also expect a bigger policy response.

Another similarity with 2008 is that, while gold has fallen in recent weeks, the drop has been far outpaced by declines in equity markets and other commodities, so its relative purchasing power has risen, said Matthew McLennan, head of the global value team at First Eagle Investment Management, which manages about $101 billion in assets.

“When the Fed progressively removes liquidity fears, provides forward guidance on rates, and when it possibly even controls the yield curve, and the economic softening is observable across the whole economy, the potential hedge value of gold can reassert itself powerfully,” he said.

Read also:

Beyond Virus Count, Some Signs to Watch for a Market Rebound Morgan Stanley, Goldman See Virus Causing Greater Economic Pain China Talks Up Post-Virus Rebound as World Economy Shuts

And while inflation expectations are plunging, fiscal authorities are likely to act aggressively, McLennan said.

“The world at large has little appetite for deflation,” he said.

Central banks from the Asia Pacific to Europe have already pledged to spend billions of dollars and implemented new policy steps. The U.S. has drawn up plans for a $2 trillion stimulus, although the process stumbled after Senate Democrats voted to reject the latest version of the legislation.

Still, gold may have further to fall before it’s ready to rebound, assuming macro markets follow the playbook from the global financial crisis, Citigroup Inc. analysts said in a report Monday. They see the potential for the metal to touch fresh nominal highs above $2,000 an ounce in 2021.

“But for now, many market participants may be repeating the mantra of ‘cash is king,’ and in particular the King Dollar.”

Before it's here, it's on the Bloomberg Terminal.
LEARN MORE

bloomberg.com

Top Indian Gold Seller Shuts Shops as Industry Grinds to a Halt

Swansy Afonso23 March 2020, 12:03 GMT+2

India’s jewelry industry has come to a standstill as the government locked down much of the country to try and stem the spread of the coronavirus.

Titan Co., the nation’s biggest jeweler by market value, has shut stores until March 29, it said in a statement. The company has also closed its manufacturing units for the week and will review the situation at the end of the period, it said.

Demand in India, the world’s second-biggest gold consumer, has already tumbled amid record domestic prices and a slowing economy. Prime Minister Narendra Modi and state leaders over the weekend imposed an almost-complete lockdown as cases of coronavirus spiked, a move that will probably further hurt growth that’s already set to slow to an 11-year low.

Concerns about the virus have seen the local gem and jewelry sector come to a standstill with virtually no footfall in stores and many jewelers shutting shops located in malls and shopping complexes, according to the All India Gem and Jewellery Domestic Council. The industry is seeking an extension for repayment of loans and a reduction in the import tax on gold to 4% from the current 12.5%, it said.

To: Maurice Winn who wrote (154987)	3/23/2020 11:19:26 AM
From: TobagoJack	Respond to of 218125

In case I forgot to mention, gold - nearly time, for it has anti-virus properties as important as toilet paper, except taking showers after business can substitute for toilet rolls, whereas same cannot likely replace gold ft.com Gold bars in short supply due to coronavirus disruption Retail investors buy up bars and coins to protect money during market rout 26 minutes ago © Reuters Traders have reported a growing global shortage of gold bars, as the coronavirus outbreak both disrupts supply and stokes demand, with one business comparing the frenzied buying of the yellow metal with the consumer rush for toilet roll. Retail investors in Europe and the US have bought up gold and silver bars and coins over the past two weeks in an effort to protect their money from the collapse in global stock prices and many currencies. But Europe’s largest gold refineries have struggled to keep up because of the region’s widening shutdown. Valcambi, Pamp and Argor-Heraeus are all based in the Swiss town of Ticino, near the border with Italy. Local authorities announced in recent days that production in the area was to be temporarily halted. Retailers have already reported shortages and delays of up to 15 days on shipments as demand has surged. Markus Krall, chief executive of German precious metals retailer Degussa, said it was struggling to meet customer appetite for gold bars and coins and had to turn to the wholesale markets. Demand is running at up to five times the normal daily amount, he said. “We are being creative to find new sources but what is driving it all are the measures by authorities to stop coronavirus. This is so unpredictable,” added Mr Krall. We’re restricted to what we can get hold of, it’s a bit like toilet roll Rob Halliday-Stein, BullionbyPost Rob Halliday-Stein, founder and managing director of Birmingham-based BullionbyPost, said the situation was unprecedented. “Basically we’re selling as soon as we get stock on location in secure vaults — but we’re restricted to what we can get hold of, it’s a bit like toilet roll.” While London’s gold vaults are full of gold bars, they are of the 400-ounce variety traded by large banks such as HSBC and JPMorgan, not the smaller bars that retail customers buy, which tend to be 1kg (35 ounces) or lighter. “I don’t think you will find a kilobar presently in Europe and the US for love nor money,” Ross Norman, a veteran gold trader, said. “It’s quite extraordinary.” Ken Lewis, chief executive of Apmex, a US precious-metals retailer, said in the past week that “product has become increasingly difficult to source as the market becomes more volatile day by day”. The company said it had purchased more than 1m ounces of silver grain and bars, more than 20,000 American Gold Eagles coins, thousands of gold bars, and “anything else we can find utilising our many partners and mint relationships”. JM Bullion, another US-based precious metals retailer, said customer orders would be delayed by 15 days, and introduced a minimum order size. BullionStar, a Singapore-based precious metals retailer, said it is paying a premium to buy back silver and gold coins from customers in an effort to replenish supplies, according to Ronan Manly, one of its analysts. “There’s a disconnect between prices in the physical gold market and the prices you see on your screen,” he said.

To: Maurice Winn who wrote (154987)

3/24/2020 2:03:43 AM

From: TobagoJack

1 Recommendation

Recommended By
Dr. Voodoo

Read Replies (1) | Respond to of 218125

just to be triply sure, in case earlier messages failed to get through ...

gold is as rare as toilet paper in some locales

get some if able, just in case of the inevitable, and while at it, some vitamin D in liquid and solar forms

<<Goldman reaffirmed its 12-month target for bullion to advance to $1,800 an ounce>>

bloomberg.com

Gold Rallies as Goldman Sees ‘Inflection Point’ After Sell-Off

Ranjeetha Pakiam
24 March 2020, 02:59 GMT+2

Gold extended a surge toward $1,600 an ounce after the Federal Reserve took unprecedented measures to protect the U.S. economy from the coronavirus shock, with Goldman Sachs Group Inc. saying bullion’s probably at an inflection point and it is time to buy.

The precious metal jumped, rallying with risk assets, after the U.S. central bank said on Monday it would buy unlimited amounts of Treasury bonds and mortgage-backed securities to keep borrowing costs low. The Fed also set up programs to ensure credit flows to corporations as well as state governments.

The traditional haven is seeing a resurgence after declining over the last two weeks, when investors had favored the dollar and sold the precious metal to raise cash. Goldman said the Fed’s move would help alleviate the funding stress that’s driven gold lower, and investors would now pivot to focus on the expansion of its balance sheet, just as they did in 2008. Goldman also highlighted the rise in de?cits in developed economies, as well as “issues around the sustainability” of European monetary union, according to a note.

“We believe this will likely lead to debasement concerns similar to the post-GFC period,” analysts including Jeffrey Currie and Mikhail Sprogis wrote in the March 23 note, referring to the global financial crisis. “Accordingly, we are likely at an in?ection point where ‘fear’-driven purchases will begin to dominate liquidity-driven selling pressure, as it did in November 2008.”

Spot gold climbed as much as 2% to $1,584.51 an ounce, and was at $1,581.77 at 10:44 a.m. in Singapore, following a 3.6% jump on Monday. The Bloomberg Dollar Spot Index dropped after hitting a record a day earlier.

Goldman reaffirmed its 12-month target for bullion to advance to $1,800 an ounce, saying that both near-term and long-term outlooks for bullion were looking far more constructive. The lift from the Fed’s move would also offset the negative impact of weaker emerging-market demand for bullion, it said.

Read more:

Gold Investors Are Betting It Really Is 2008 All Over Again Fed Sidesteps Congress’s Bickering With Sweeping Rescue Plan U.K. in Lockdown; Trump Wants U.S. Reopened Soon: Virus Update The Virus and the World Economy - Forecasting a $3 Trillion Blow

There was also a vote of confidence in bullion from veteran investor Mark Mobius. The haven’s recent sell-off alongside risk assets such as stocks and oil was a sign of pure panic, with investors selling everything as the pandemic spread, Mobius told Bloomberg TV in an interview.

“I think it’s a mistake,” he said. “People should have gold and this may be a good time to increase holdings in gold -- in fact I’m thinking that myself.”

Among the other main precious metals, silver and palladium surged more than 6% and platinum advanced 3%. The two platinum group metals are extending gains amid the broader rise in precious metals, and after a report that South Africa will close its mines for 21 days as part of a lockdown. The country accounts for 75% of the world’s platinum and 38% of palladium supply.