chistletoe

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  • Fiat Money and a Profligate Congress: A Bad Combination
    The jist of this opinion piece is old, old news but its nice to see it begin to
    show up in mainstream outlets. A few comments from recent events:

    Iraq under Saddam Hussein made the first moves away from US currency as world currency. That was the deepest "real" reason they were invaded and occupied.
    China, in the past two years, has ramped down their accumulation of US currency and obligations. So has Japan. It should be obvious where the new borrowing is coming from even though you won't be able to read it anywhere for awhile longer.

    There is not enough gold in the whole planet to use it as world currency. For that to work, a single one-ounze gold coin would have to have the equivalent value of about one year of service from a typical middle-class worker. How do you make change?

    The most likely scenario I can see, going forward, is that crude oil becomes the new world currency. That still leaves the United States so deep in debt
    that it will never be able to pay. Voting out the scoundrels does not seem
    to work, they seem to be as inexhaustible as the paper coming out of the Bureau of Minting and Engraving. I fear armed insurrection.

    Interesting times ....
    Dec 12 09:20 am |Rating: +2 -1 |Link to Comment |View article
  • Gold Coins Are in Short Supply, So Why Doesn't Their Price Rise?
    You can still get gold coins on eBay.

    I have yet to see a good writer explore what will happen when the money supply goes down to zero. Would you care to give it a try?
    Nov 04 05:07 am |Rating: +1 0 |Link to Comment |View article
  • Oil/Gold Arbitrage Opportunity
    Stay long gold,
    but don't short oil.
    The reason that refining capacity is shrinking is that
    the companies which refine oil understand
    that the crude oil supply is shrinking.
    there's no reason to build new refining capacity because there won't be any new crude coming on the market to refine.
    Jul 14 08:05 am |Rating: 0 0 |Link to Comment |View article
  • Why the Discrepancy Between Oil and Gold?
    All the goldbugs notwithstanding, most of the new gold mined in the world ends up as jewelry, not coin or bullion. Oil, on the other hand, can be used to do work and create value. Just for example, oil and gas availability have enormously increased crop yields which, as Midas discovered to his chagrin, no amount of gold could ever do. So while there is a growing shortage for both, people who only have money to invest in one and not the other tend to choose investing in oil.
    Jun 10 08:25 am |Rating: 0 0 |Link to Comment |View article
  • Panic Driven Sector Rotation
    Nice article ... full of illusion.
    I think the market is going to continue in panic mode,
    flitting hither and yon, in rapid succession, ultimately going nowhere.
    I'm going to continue doing what I have been doing,
    buying when everyone else is selling, selling when everyone else is buying,
    each time picking up a few cents for myself.
    Apr 02 09:05 am |Rating: 0 0 |Link to Comment |View article
  • Get Out of Commodities - Barron's
    wolf! wolf! wolf, i say!

    How many times is Barron's going to tell us that $5/barrel oil is just around the corner? In your dreams!!!!
    Mar 30 06:10 am |Rating: 0 0 |Link to Comment |View article
  • Is the Gold Rally Really Over?
    Your article states the obvious ... still there are people who don't want to see that the emperor has no clothes on ... I am delighted to hear about the shorts ... obviously there are still a lot of folks on Wall Street with more money than brains ...
    Mar 27 07:29 am |Rating: 0 0 |Link to Comment |View article

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