Stability Of The European Union (19) April 18, 2013 To [View instapost]
"what countries do you want to see in a frontier market fund?"
Springer got me interested in Sri Lanka. They look to be on track for 15-20% per year growth the next five or so.- I'm opening a Ceylon Bank account- Don't think you have to any more but it makes life easier to invest there.
Thailand- busy now, Maybe Vietnam and Singapore also- They are attracting investors (Singapore may be emerging not frontier). I haven't looked at Africa with the exception of So. Africa's gold miners- Kloof for one.
"Honestly, we don't have enough physical gold to supply to the Chinese. I just heard one Hong Kong party is quoting premiums at $6. This is mad," said a dealer in Singapore.
Gold was little changed at $1,392.21 an ounce after falling for a fifth straight session on Wednesday, its longest daily losing streak since January 2011, lifting premiums in Singapore to $3.50 an ounce."
Interesting in that a sponsored ad right next to the article quoted US Gold at $1,364, down 1.6%.
Hey- Anybody interested in getting a wad of US Gold over to China? Lets see, $1392 minus 1364= $28 per oz spread. If we put 3 or four tonnes (2200 pounds) together we could make a few bucks. Do you think Bejing would mind?
Looks to me like the Land of the Rising Sun may be one of the better plays out there. They saw that our BB program didn't have any negative effect on stocks so I think theirs is an attractive market as well, as long as their "elephant in the room" neighbor doesn't get too bothersome.
I do believe that posturing will quiet down. No reason that I can see for escalation.
DG- Thanks for the link(s). It's clear that a lot of more cost-to-produce miners will stop digging, at least for gold as the primary product. What I can't figure is why the price has not solidified with all the demand for the stuff, or is that simply civilian demand and not heavy enough to move the price?
Or, is there just simply more supply that can be absorbed?
Stability Of The European Union (19) April 18, 2013 To [View instapost]
This is a link to a Project Syndicate debate btw Soros and Hans-Werner Sinn a professor at University of Munich on the rationale of Germany leaving the Eurozone or allowing the creation of Eurobonds, a subject that would be rejected by the German people.
Another alternative discussed is the splitting of the Eurozone, North/South which sounds a bit fuzzy but may be possible. Germany has the most skin in the game already and is reluctant to do more.
Comparisons are made to Alexander Hamilton and the major US financial catastrophe of the early 1800s, also to Japan's bank collapse of 1997 and the following 25 years of stagnation.
A long but very interesting debate with a lot of insight-
Stability Of The European Union (19) April 18, 2013 To [View instapost]
OG-
I'm in the hunt for a well run Frontier Market MUTUAL fund as I feel any Frontier equity collection needs to be selectively monitored and don't feel an ETF will be able to do that. I will pay the extra fees to accomplish that. Fidelity already has FSEAX - Emerging Asia, but I hear that Templeton has a new frontier fund just starting up.
Its been a long time since I read the book but I do remember some- in my humble opinion, standout issues.
- Pretty easy to purchase anything you can outside the country and bring it back with you if it's portable. Maybe all those IRS agents will become customs officers though.
- Avoid sales tax through the age old barter system. You need a rug? I need a washer/dryer. There are websites that will arrange a barter arrangement for a small fee. Definite growth industry. Craigslist could get involved. No tax on used stuff? How used does it need to be.
Gray Markets abound.
- Underground economies would grow, not diminish. People with access would purchase their food from various forms of vendors, farms, co-ops maybe once again probably looking to barter. EBAY would be ten times bigger than Apple and Google put together.
- Prebates- The biggest welfare program ever dreamed up. The whole country gets a check every month? Just think of what that bureaucratic boondoggle is going to cost. Might be a chance at abuse and incompetence as well, I believe.
- Charitable organizations, religious organizations and I suppose other non-profits would not have to pay the tax.
I lived in an area once where every house in a particular sub-division was declared to be a place of worship and a school for the neighborhood. Result? No property taxes- No income taxes for the residents since they were all religious scholars living for the community. Exemption from the tax as a religious entity. The kids in these houses still attended the schools outside the community as well. I can see a boom in this type of arrangement.
The first thing I though of after reading the book several years ago was that it was really designed to benefit the top brackets income people. And if it was- then everyone below that level would be making up the difference. The big boys keep the money in Europe and the Caribbean where they can have their palaces and buy their corporate jets and yachts.
The next thing I thought about was the transition, but that was really talked to death and important but not something I spent a lot of time on- We'll just hope the government gets it right.
There are a litany of abuses and inefficiencies in our current tax system. Reform? Somebody benefits- Someone else pays the bill. Been that way since the beginning. The way it works now is the ones that control the system benefit the most. I predict that it would be the same beneficiaries under the Fair Tax, good intentions by some notwithstanding.
I read the book and saw how it would create a wad of loopholes that anyone with a $300k or over income could work to their advantage- no problemo, man- a few benefit a whole lot pay the price.
Having said that I DO believe that our selectively beneficial "systems" tax or otherwise is no way near fair- From ridiculous farm subsidies to bail-out corporate welfare to oil depletion allowances to TBTF banks. I don't think the founding fathers were thinking that way.
Stability Of The European Union (19) April 18, 2013 To [View instapost]
Springer got me interested in Sri Lanka. They look to be on track for 15-20% per year growth the next five or so.- I'm opening a Ceylon Bank account- Don't think you have to any more but it makes life easier to invest there.
Thailand- busy now, Maybe Vietnam and Singapore also- They are attracting investors (Singapore may be emerging not frontier).
I haven't looked at Africa with the exception of So. Africa's gold miners- Kloof for one.
WT
QC #257, May 10, 2013 [View instapost]
Thanks-
This piece from that article says a lot:
"Honestly, we don't have enough physical gold to supply to the Chinese. I just heard one Hong Kong party is quoting premiums at $6. This is mad," said a dealer in Singapore.
Gold was little changed at $1,392.21 an ounce after falling for a fifth straight session on Wednesday, its longest daily losing streak since January 2011, lifting premiums in Singapore to $3.50 an ounce."
Interesting in that a sponsored ad right next to the article quoted US Gold at $1,364, down 1.6%.
Hey-
Anybody interested in getting a wad of US Gold over to China? Lets see, $1392 minus 1364= $28 per oz spread. If we put 3 or four tonnes (2200 pounds) together we could make a few bucks.
Do you think Bejing would mind?
WT
QC #257, May 10, 2013 [View instapost]
SLAINTE!
QC #257, May 10, 2013 [View instapost]
QC #257, May 10, 2013 [View instapost]
Windwood Trader
QC #257, May 10, 2013 [View instapost]
Looks to me like the Land of the Rising Sun may be one of the better plays out there. They saw that our BB program didn't have any negative effect on stocks so I think theirs is an attractive market as well, as long as their "elephant in the room" neighbor doesn't get too bothersome.
I do believe that posturing will quiet down. No reason that I can see for escalation.
WT
QC #257, May 10, 2013 [View instapost]
No matter what- NO MORE RUM!
QC #257, May 10, 2013 [View instapost]
Thanks for the link(s).
It's clear that a lot of more cost-to-produce miners will stop digging, at least for gold as the primary product. What I can't figure is why the price has not solidified with all the demand for the stuff, or is that simply civilian demand and not heavy enough to move the price?
Or, is there just simply more supply that can be absorbed?
WT
Stability Of The European Union (19) April 18, 2013 To [View instapost]
Another alternative discussed is the splitting of the Eurozone, North/South which sounds a bit fuzzy but may be possible. Germany has the most skin in the game already and is reluctant to do more.
Comparisons are made to Alexander Hamilton and the major US financial catastrophe of the early 1800s, also to Japan's bank collapse of 1997 and the following 25 years of stagnation.
A long but very interesting debate with a lot of insight-
http://bit.ly/13zeaKp
Windwood Trader
Stability Of The European Union (19) April 18, 2013 To [View instapost]
I'm in the hunt for a well run Frontier Market MUTUAL fund as I feel any Frontier equity collection needs to be selectively monitored and don't feel an ETF will be able to do that. I will pay the extra fees to accomplish that.
Fidelity already has FSEAX - Emerging Asia, but I hear that Templeton has a new frontier fund just starting up.
WT
Stability Of The European Union (19) April 18, 2013 To [View instapost]
I went into $SCJ all cap index right after the Japanese announced their BB look alike program.
Up 6% so far. I will be adding to it.
Windwood Trader
QC #257, May 10, 2013 [View instapost]
Its been a long time since I read the book but I do remember some- in my humble opinion, standout issues.
- Pretty easy to purchase anything you can outside the country and bring it back with you if it's portable. Maybe all those IRS agents will become customs officers though.
- Avoid sales tax through the age old barter system. You need a rug? I need a washer/dryer. There are websites that will arrange a barter arrangement for a small fee. Definite growth industry. Craigslist could get involved. No tax on used stuff? How used does it need to be.
Gray Markets abound.
- Underground economies would grow, not diminish. People with access would purchase their food from various forms of vendors, farms, co-ops maybe once again probably looking to barter. EBAY would be ten times bigger than Apple and Google put together.
- Prebates- The biggest welfare program ever dreamed up. The whole country gets a check every month? Just think of what that bureaucratic boondoggle is going to cost. Might be a chance at abuse and incompetence as well, I believe.
- Charitable organizations, religious organizations and I suppose other non-profits would not have to pay the tax.
I lived in an area once where every house in a particular sub-division was declared to be a place of worship and a school for the neighborhood. Result? No property taxes- No income taxes for the residents since they were all religious scholars living for the community. Exemption from the tax as a religious entity. The kids in these houses still attended the schools outside the community as well.
I can see a boom in this type of arrangement.
The first thing I though of after reading the book several years ago was that it was really designed to benefit the top brackets income people. And if it was- then everyone below that level would be making up the difference. The big boys keep the money in Europe and the Caribbean where they can have their palaces and buy their corporate jets and yachts.
The next thing I thought about was the transition, but that was really talked to death and important but not something I spent a lot of time on- We'll just hope the government gets it right.
There are a litany of abuses and inefficiencies in our current tax system. Reform? Somebody benefits- Someone else pays the bill. Been that way since the beginning. The way it works now is the ones that control the system benefit the most. I predict that it would be the same beneficiaries under the Fair Tax, good intentions by some notwithstanding.
WT
QC #257, May 10, 2013 [View instapost]
I'm with you-
I read the book and saw how it would create a wad of loopholes that anyone with a $300k or over income could work to their advantage- no problemo, man- a few benefit a whole lot pay the price.
Having said that I DO believe that our selectively beneficial "systems" tax or otherwise is no way near fair- From ridiculous farm subsidies to bail-out corporate welfare to oil depletion allowances to TBTF banks. I don't think the founding fathers were thinking that way.
WT
QC #257, May 10, 2013 [View instapost]
PM for you.
WT
QC #257, May 10, 2013 [View instapost]
I searched a bit and finally contacted S&P and asked them for what the average current price of the components is.
I went all through their web sites and found out that the capitalization of the 500 components totals $15,857,000,000,000.47.
I'll get back to you when they respond.
WT