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This was a link on the previous post. Bukko you should like this one if you haven't already watched it. This is a 16 minute video from TED.
Have we used up all our resources? Have we filled up all the livable space on Earth? Paul Gilding suggests we have, and the possibility of devastating consequences, in a talk that's equal parts terrifying and, oddly, hopeful.
Paul Gilding is an independent writer, activist and adviser on a sustainable economy. Click through to watch the onstage debate that followed this talk. Full bio »
17 comments:
Anyone know where the support is for gold and silver at this point? I see from the blog Catharsis Ours that there is a big shake up over at JPM. I don't really care that much as they will simply be replaced with other suits who will follow a slightly different game plan. I my gut I am thinking that people are really not interested in PMs anymore. The miners continue downward and the experts are not too optimistic. I would like to hear other opinions.
Spanish and Italian 10yr bond yields are skyrocketing this morning. Not sure of its the Greek thingy, their own mess, or Merkel's thrashing in the be election.
Not to sound too pessimistic, but Spain seems to be big enough to get the entire Eurozone to sit up and pay attention. It is too big to save, but what are the alternatives? I am not reading anything that makes sense of it all.
perhaps, Queenbee, it is because people have awoken to the realization that it is not, "The Emperor has no clothes," but rather, "The banks have no real MONEY?!"
Me? I'm going to burn a nice relaxing disk of music to put in while I do wash. It's a day of showers and rain here. A bit cool and that makes me achy so I will read and escape the bonds of bad news for as long as I can.
CL there is nothing we can do about things anyway. Just sit back and enjoy the show. Invest wisely and as Shaza always said follow the tape. I am looking for an another stock to invest in but this is not the time of year. I sold in May and have gone away.
I stopped by here yesterday but google messed me around on my login.
Anyone know where the support is for gold and silver at this point?
You wouldn't like my answer. (Silver ~ $20, Gold > $1K)
In[sic] my gut I am thinking that people are really not interested in PMs anymore.
I won't pay today's prices for PMs or jewelry, that's for sure.
The miners continue downward and the experts are not too optimistic.
All mining is a tough racket.
I would like to hear other opinions.
There you go.
Make that Gold < $1K
My grandpappy used to work for CLF. It currently has a P/E of 5 and a 4.4% divi and still there is little interest in it because of the overhead. Open pit mining requires constant energy and equipment input. The pumps have to run 24/7 just to keep them from filling with water. Equipment is ungodly expensive and can wipe out a year's profits without warning. Margins are thin. Coal mining has its own problems.
CLF is trading at ~ $55 today. I would call it a long term buy and hold at $20. I know, everyong thinks I am crazy with all these low numbers but time will tell.
Thanks Edgar and GAW I sent you a private email. I found a way to turn my unusable and expiring sky miles with AA into something I can use. I signed up with a company called points.com that is associated with American Airlines. They in turn gave me give me gift certificates of my choosing to use at Best Buy, Home Depot and Amazon.com worth just over 400.00 total. I had 100k miles expiring in August and that is a lot better than giving them away or losing them altogether.
I could have used them all in one place, but this allows Yvonne some benefit and to be able to shop. She loves going out even if its in a wheelchair. It is really funny at the grocery as she pushes the cart and I push her. She doesn't want to ride in those ones the store provides as it is a hassle getting in and out.
I never watch those online videos but am intrigued by the comment, "The Earth is full."
Yes, it is filled with light, sweet crude, just like a giagantic bon-bon. We will never run out of oil!
/sarcasm off
Edgar, on some sites they would call you a Troll for suggesting Gold can dip below $1K.
I do not believe it will dip that low but will not make a guess at what the bottom will be.
We may see a sudden separation between 'paper' and physical PM prices, although I do not know how this will happen, other than by a MAMMOTH premium for those who want to take physical delivery of their PM's.
Hello Mammoth,
I know, I troll zh all the time on that subject but quit when the price started falling because it doesn't illicit as much hate. For me the canary in the gold mine was when platinum dropped below gold on a steady decline.
This much I do know, oil and gas producers worry that the price may fall &/or stay low. Iron ore producers worry too. Those fears are real. Most commodity speculators are bullish only and I feel that leads to precipitous declines. As for you I suspect that any extended downturn in PM prices will be viewed as a buying opportunity which is fine. The uber-wealthy will probably put a floor under prices much higher than what I am willing to pay but if not don't hate the messenger.
I listened to a KWN interview today and this is a major exit in long commodities of all types, not just PMs. The deflation drain is sucking everyone in fast and BB doesn't know what to do. He wants to QE to infinity, but political opposition is strong.
Anybody got any views on using De La Rue as a speculative punt?
For those of you that are unfamiliar with them they are a British security printer who have been out of fashion recently due to "production quality issues". However my thesis is that they could become incredibly busy should any of the PIGS get out of the Euro. At the moment they print on behalf of the Irish and Portguese.On Monday the FT reported, in 2003 that they provided the new Iraqi notes requiring 27 Boeing 747s for transportation. Any countries that exit the Euro would likewise require their printing capabilities for their new currency.
In the US they have this ticker DELRF:PKC and you can find out more about them here http://en.wikipedia.org/wiki/De_La_Rue
Sorry, but I call BS on the need for twenty-seven Boeing 747's just to fly paper money to iraq.
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