"I am a victim, I will tell you. I am a victim."
"I am your retribution."
gold goes up and down and it has virtually no relationship to the economy...so i don't read much into it...but maybe you're right...inflation might be lurking...we'll see...i kinda doubt it
the price of gold went from $400 an oz in 2004 to $1800 an oz in 2011...what happened to inflation...nothing...zip...nada
the current price of gold is lower than it was in August 2011...should we worry about deflation?
Last edited by nsacpi; 12-06-2020 at 08:58 PM.
"I am a victim, I will tell you. I am a victim."
"I am your retribution."
Gold went up sharply from 2004 to 2011. Then it went down for a while. Then it went up for a while. And right now it is below where it was in August 2011. There is no there there. Like any asset you can pick periods when it has done well relative to other assets, and you can pick periods where it has done poorly. It tends to move inversely with interest rates because most big players in the gold market finance their positions by borrowing. There is even something called the gold interest rate, which you can borrow at if you put up the gold you buy as collateral.
Last edited by nsacpi; 12-06-2020 at 09:08 PM.
"I am a victim, I will tell you. I am a victim."
"I am your retribution."
Btw gold is off 10% in the past 4 months. Is this good or bad? I vote for meaningless.
"I am a victim, I will tell you. I am a victim."
"I am your retribution."
Why is it an asset?
Last edited by nsacpi; 12-06-2020 at 09:31 PM.
"I am a victim, I will tell you. I am a victim."
"I am your retribution."
why is this an asset? cuz people dig it
"I am a victim, I will tell you. I am a victim."
"I am your retribution."
I look forward to buying the Van Goh futures tomorrow...
actually you raise a good good point...paintings are not standard...each is different...so there will not be a deep market in them
other assets can be standardized, which allows for deep markets to develop...an ingot of gold, treasury bills, barrel of a particular grade of crude oil, wheat, corn, etc
"I am a victim, I will tell you. I am a victim."
"I am your retribution."
Nsacpi and AOC must be so proud!!
I love when you find Europeans to complain about and tie them to Americans and democrats
It’s a solid b side hit of yours
"For there is always light, if only we are brave enough to see it. If only we are brave enough to be it." Amanda Gorman
"When Fascism comes to America, it will be wrapped in the flag and carrying a cross"
goldfly (12-07-2020)
The Rude Pundit
@rudepundit
·
2m
So there’s a treatment that can clear up symptoms for COVID quickly,
but only rich, connected people can get it. That’s as graphic an illustration of
the barbarism of capitalism that you’re gonna get.
Quote Tweet
Shimon Prokupecz
@ShimonPro
· 13h
Giuliani said he had exactly the same treatment as the president.
“Exactly the same. His doctor sent me here, talked me into it.
I didn’t really want to go to the hospital and he said don’t be stupid,
we can get it over in three days if we send you to the hospital.
The best way to stop a bad guy with a gun is to make sure he doesn’t get a gun.
This is the dumbest point you have potentially ever made
By Matt Shuham
|
December 9, 2020 11:01 a.m.
0
New York’s mammoth pension fund will divest from fossil fuels, the state’s comptroller announced Wednesday, sending a shockwave through the climate movement and energizing the effort to dump investments that contribute to climate change.
Climate advocacy groups praised the fund as the largest in the world to take such a step. Comptroller Thomas DiNapoli said in a press release that the $226 billion retirement fund will aim to transition to a net-zero emissions portfolio by 2040.
Within five years, DiNapoli said, the fund would complete a review of its energy sector investments, assessing “their future ability to provide investment returns in light of the global consensus on climate change” and potentially divesting from the “riskiest companies.”
“Those that fail to meet our minimum standards may be removed from our portfolio,” he said. “Divestment is a last resort, but it is an investment tool we can apply to companies that consistently put our investment’s long-term value at risk.”
New York has faced years of pressure from activists to divest from fossil fuels. And it had already divested from 22 coal companies earlier this year. But the portfolio-wide review marks a huge shift away from carbon-emitting investments. It also marks a shift for DiNapoli, who’s opposed divestment in the past.
The move could pressure other funds, such as California’s gargantuan pension fund, to follow suit.
“This historic action will help send market signals that fossil fuels have had their day, and clean energy is the future for New York,” said Rich Schrader, New York Policy Director at the Natural Resources Defense Council.
DiNapoli’s press release noted that the state fund’s plans are more ambitious than those laid out in the Fossil Fuel Divestment Act, legislation backed by activists and Democrats in the state that would require the comptroller to divest the pension fund from fossil fuel investments. As a result, the bill’s sponsors indicated that it will not reintroduce it in 2021, the release noted.
DiNapoli’s commitment goes “over and above” the legislation, Richard Brooks, an organizer with 350.org, told Earther.
“We’ll look back on this as a big moment in the story of the fossil fuel divestment movement,” Brooks said.
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The best way to stop a bad guy with a gun is to make sure he doesn’t get a gun.
This is a good question.
Why bailout the unquestionably privileged people who are miles ahead of folks with no degree?
I think the academia is sacred to their left and they need to keep the illusion of their value alive by bailing out the mistakes of others
Jaw (12-11-2020)