Monday With regard to the quantification of a good’s value, with what is it measured? How is the subjective value of a good expressed? Well, with money of course; one of the jobs of money in the marketplace is to measure value. For most of the 20th century and at the beginning of the 21st century, the marketplace has used fiat debt notes, otherwise known … [Read more...]
Shorting the Market
Sunday Stocks exist in Australia that allow one to short the market – i.e. bet that the market is going to go down. I own some – BBOZ. Please do not take what follows as any sort of investment advice. I have a record as a stock tipper almost as bad as that of my picking winners of the Melbourne Cup. I have no idea from whence BBOZ’s income is derived, nor do I really … [Read more...]
On the Dollar Price of Gold
Friday This article was in the Financial Review a few days ago. I was asked to comment. Going straight past Jim Rickards’ falling interest rates are the solution bit (no they're not, they're the problem), his prediction for the fiat price of gold is an estimation based on a false premise. There will be a long continuance of price deflation before we hit … [Read more...]
Being Prepared
Wednesday Being prepared is a great virtue, but underneath it sits the ability to successfully predict, the intelligence to formulate appropriate strategies in accord with those predictions and, most importantly, the courage to implement them. Only then can one truly be prepared. Such are the marks of success in all human endeavours. But, how can one 'be prepared' in this … [Read more...]
Be Prepared
Monday 'Be prepared' is the Baden Powell motto. Being prepared is a great virtue, but underneath it sits prediction - the ability to successfully predict, the intelligence to formulate appropriate strategies in accord with those predictions and the courage to implement them. Only then can one be prepared. Such are the marks of success in all human endeavours. But, how can … [Read more...]