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| Last Updated: Aug 15th, 2008 - 11:26:43 |
Newsletters
:
2007 Newsletters
:
12 October 2007
Thought for the Day
Welcome to the dozens of new readers who responded to our recent advert in the Herald. Knowledge is Power.
In 1999 Helen Clark stated her objective for New Zealand's future was to move us up from number 20 (out of 30) to the top half of the OECD - Number 15. After four years in 2003 it became clear to us that far from moving upwards we were aiming downwards so we formed this society. Our aim is to help educate politicians and ourselves in what exactly is needed to move our country upwards in the "Nations Rich List" instead downwards as we have done for so many years.
We are not making much headway because last year we dropped to our lowest place ever on the world wide wealth list to number 38 and this year we dropped another two places to number 22 in the OECD.
Labour's policies are taking us lower down the wealthy lists.
We have learned much in theory from the Austrian Economists and we have also learned by studying what other countries have done and what happened as a result. Our web site contains all this information - much of it amongst our earlier newsletters.
As a corollary of all this effort we have learned about the problems facing nations using paper money backed by nothing but the word of politicians. Unfortunately we find that all countries are now in this same boat. The prognosis is not good but because we now know what will happen (but not when) we have some chance of protecting ourselves and our family's wealth from the economic ructions to come.
Maybe enough of our politicians will also obtain these understandings to make a difference and to safeguard us while putting policies in place that will move us up into the top half of the OECD. Don't hold your breath.
Oct 12, 2007, 09:50
Newsletters
:
2007 Newsletters
:
12 October 2007
Mogambo Guru Essays
"Richard Daughty is general partner and COO for Smith Consultant Group, serving the financial and medical communities, and the writer/publisher of the Mogambo Guru economic newsletter, an avocational exercise to better heap disrespect on those who desperately deserve it. The Mogambo Guru is quoted frequently in Barron's, The Daily Reckoning, and other fine publications."
Editor: A lot of truth wrapped up in a lot of laughs.
[ Visit Website ]
Oct 10, 2007, 12:49
Newsletters
:
2007 Newsletters
:
12 October 2007
Remonetisation Of Gold: Start Hoarding
Paul Mylchreest of Cheuvreux has made a recent study of gold and money supply and reports:
" We are raising our mid-cycle gold price estimate to USD900/oz from USD750/oz and see the possibility of a spike to USD2,000, or higher. Covert selling (via central bank lending) has artificially depressed the price for a decade.
Central banks have 10–15k tonnes of gold less than their officially reported reserves of 31k. This gold has been lent to bullion banks and their counterparties and has already been sold for jewellery, etc. Non-gold producers account for most and may be unable to cover shorts without causing a spike in the gold price.
There is a supply deficit in the gold market of around 1,300 tonnes p.a. before any central bank selling and perhaps 700 tonnes p.a. after "official" sales, but before covert selling. This compares with world gold mine output of only 2,500 tonnes p.a. Some central banks, notably Russia, are starting to buy gold.
Gold acts as an early warning of potential crisis such as rising inflationary/deflationary pressures and general confidence in paper currency, especially the USD. A strongly rising gold price could have severe consequences for US monetary policy and the USD. History suggests that gold always wins against an inflating paper currency (i.e. one subject to excessive supply growth).
Gold and gold mining stocks are poised for an unprecedented rise in prices and profile. Investors in UK/European equities need to assess the implications for their portfolios. Global/hedge funds may be better placed to respond. Anglo American is the only large cap gold/precious metals play domiciled in Europe."
We are a long way from stable international monetory conditions. This bodes ill for our economy. The full report may be found at this web site. . . [ Visit Website ]
Oct 9, 2007, 15:28
Newsletters
:
2007 Newsletters
:
12 October 2007
Feeling The Pinch
The pain of the credit crunch spreads.
Oct 4, 2007, 12:03
Newsletters
:
2007 Newsletters
:
12 October 2007
Different Patterns
One of the things that I have discovered recently is that the gold and silver markets are being manipulated to keep their price down.
The Central Banks have an incentive to keep the price of gold down so that their fiat currencies do not look too fragile. They can do this by selling their reserves on the open market at strategic times to depress the price.
As gold and silver have always priced themselves in tandem in open markets over the ages this incentive must extend to keeping the silver price in line with gold. The silver manipulation is not certain or proven but the evidence seems strong that the silver price is being artificially held down.
The financial markets are in turmoil to the extent that banks do not wish to lend to each other because each bank does not trust any other bank. Many countries (oil producers and China) are moving away from holding their reserves in US dollars. Are they moving into gold, besides Euros and Yen?
Will countries begin a scramble for gold reserves? If they all know that other countries are printing money like crazy then they know that this inflation will reduce the value of paper money and hence the value of their reserves. As this inflation of paper money heats up (adding more money seems to be the established solution to the current world wide credit crunch), will countries and individuals fight for security in the gold markets?
Sep 19, 2007, 12:07
Newsletters
:
2007 Newsletters
:
12 October 2007
Does Capitalism Make Us More Materialistic?
An interesting discussion on our materialistic world. Why do people worry about materialism? What is wrong with materialism? How do we become happy? Can the State provide happiness by legislation? What do the Socialists think?
Happiness is the state of your mind. Obtaining happiness is your business. Does it just arrive automatically or should we think about it? Does materialism lead to happiness? Is it the same for all people? Perhaps we should just relax and stop trying to "do good" to other people but rather let each find their own way.
Sep 11, 2007, 12:11
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