A fairly naive comment under a really good post but I can’t help but think government and media create chaos intentionally to justify their very existence. Something must be done or something must be said. I wonder what would happen to the markets if they just sodded off.
“I’m from the government and I’m here to help”. Reminds me of the day a poor young woman from the council turned up at Llamas to ask me to properly implement a face mask policy. Poor thing.
Your best piece in a while Tim. Very apposite and a wonderful inweaving of the China Syndrome metaphor. Will be sharing this and using your piece to execute my first cross-post manoeuvre...Thank you for writing it.
I am fully bought into the argument. I remain a little cautious about gold (and silver). Don't get me wrong, I am irresponsibly long the physical and the miners, but for the little people the ability to transport gold hither and yon is no longer remotely as possible today as it was in the 70s. At the back of my mind is the potential for the government authorities to mandate gold owning penalties and onerous profit taxes. Indeed thats one reason I own miners.
Having been around a good while, I view the world today as a toxic mix of various narratives and almost long for the world of the 70s, warts and all.
Windfall taxes in various guises have now been imposed in Australian coal miners, either as increased or royalties or required to supply the local utilities a certain proportion of their output (presumably because no new coal mines have been allowed to open).
A fairly naive comment under a really good post but I can’t help but think government and media create chaos intentionally to justify their very existence. Something must be done or something must be said. I wonder what would happen to the markets if they just sodded off.
" Ah, solving that question
Brings the priest and the doctor
In their long coats
Running over the fields."
('Days' - Philip Larkin)
https://www.poetryfoundation.org/poems/48410/days-56d229a0c0c33
“I’m from the government and I’m here to help”. Reminds me of the day a poor young woman from the council turned up at Llamas to ask me to properly implement a face mask policy. Poor thing.
That is an AMAZING poem Thanks!
Your best piece in a while Tim. Very apposite and a wonderful inweaving of the China Syndrome metaphor. Will be sharing this and using your piece to execute my first cross-post manoeuvre...Thank you for writing it.
I am fully bought into the argument. I remain a little cautious about gold (and silver). Don't get me wrong, I am irresponsibly long the physical and the miners, but for the little people the ability to transport gold hither and yon is no longer remotely as possible today as it was in the 70s. At the back of my mind is the potential for the government authorities to mandate gold owning penalties and onerous profit taxes. Indeed thats one reason I own miners.
Having been around a good while, I view the world today as a toxic mix of various narratives and almost long for the world of the 70s, warts and all.
Windfall taxes in various guises have now been imposed in Australian coal miners, either as increased or royalties or required to supply the local utilities a certain proportion of their output (presumably because no new coal mines have been allowed to open).
Why should one not own GLD? Serious question.
Dà