Hard Assets:

rffrydr · Posted: Thu May 11, 2006 11:57 am Post subject: Hard Assets:

Calling all bugs.

Okay, let's start where it all (and they) begin: REAL ESTATE

Supposing it is the seventies again: Vietnam, Mid-Eastern stagflation, crisis of confidence--Rumsfield. Solace is taken in hard assets. So... with $800/gold, $87 oil where does that leave Real Estate?

The (good) saving impulse got us into this bubble (bad); how does it come out of it? Marked to market? Or, gaining while loosing (real value)?

rffrydr · Posted: Thu May 12, 2011 9:22 am Post subject:

Just in case you thought we're just flushing out the "punters".....real money is getting hurt here:

http://www.cnbc.com/id/43001245

http://macro-man.blogspot.com/2011/05/commodities-are-crap.html
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rffrydr · Posted: Tue May 10, 2011 4:17 pm Post subject: aa

Not making any more of it????

http://plannord.gouv.qc.ca/

Something of the equivalent of a large mineral-rich asteroid striking the planet....right here in our Mountie-safe back yard.

Yes, money is faster than mines....but we're working on that front too.
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Today is the Tomorrow you worried about Yesterday!

rffrydr · Posted: Tue May 10, 2011 6:52 am Post subject:

Back when gold and "goods" were two different, opposite, asset classes and deflation, measured as replacement goods in declining gold price, were squeezing Germany to its limit.

http://select.nytimes.com/gst/abstract.html?res=F50F12FC345C11738DDDAF0A94D9415B808FF1D3&scp=26&sq=reparations+gold+goods&st=p

And what was the ultimate "hard asset"? The Ruhr....or was it lead?
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rffrydr · Posted: Fri May 06, 2011 7:13 am Post subject:

The restructuring of large MLP's brought up in this week's commentary is just another poke in the eye in that out of control beast, the leveraged hard-asset market. And its far far overdue time this beast was tamed.

I for one have absolutely no problem with this change in policy. I believe the $50 million proposed cut-off would still allow for a spirited "wildcatting" culture (obviously its original intent and purpose) while killing the monstrous corporate welfare project its morphed in to. To think that in these times this kind of largess continues strains credulity. Even if the tax revenue boost was $1 either you believe in your austerity policy or you don't. Of course the money is far more substantial--and MLPs really are just a small subset of a hydra of ag subsidy in this country. There's a place for it....but, like all spending, it needs to roll with the punches. This proposal is modest in comparison to, say, the UK raid on Northsea oil interests--or even the tiny minority participation energy companies gladly and routinely pay to plant their noses at Putin's rear-end for instance.

What's it worth to drill in Kurdistan? Markets don't go there.

It's really hilarious how cost-of-capital equations begin all too often these days with government give and take. The true and right cost? Government is always part of the equation. For good--and evil. That's the lesson of our time.
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rffrydr · Posted: Wed May 04, 2011 8:15 am Post subject:

Did the tweet trigger the hedge-push down in silver BEFORE the OBL announcement?.... Were margined-up asian small investors the most vulnverable? --In any case, fifth weekly stall-out print on the CRB. Resting now on very steep uptrend line.
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rffrydr · Posted: Tue May 03, 2011 6:28 am Post subject:

The "two sides" of the commodity trade, bull and bullier:

http://www.bloomberg.com/news/2011-05-02/morgan-stanley-joins-funds-buying-commodities-as-goldman-sachs-says-sell-.html

rffrydr · Posted: Tue Mar 08, 2011 10:54 am Post subject:

The commodity trade: 2003-2011

http://www.minyanville.com/businessmarkets/articles/investment-strategy-commodities-market-chart-energy/3/7/2011/id/33126

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Today is the Tomorrow you worried about Yesterday!