Here are the latest news items and commentary on current economics news, market trends, stocks, investing opportunities, and the precious metals markets. We also cover hedges, derivatives, and obscura. And it bears mention that most of these items are from the “tangibles heavy” contrarian perspective of JWR. (SurvivalBlog’s Founder and Senior Editor.) Today’s focus is on Swiss Watches. (See the Economy & Finance section.)
Precious Metals:
I just did a quick calculation and found that the spot silver-to-spot gold ratio just hit 86.6-to-1. This is an ideal time to ratio trade out of gold, into silver. And if you haven’t already done so, I suggest getting shed of any “paper”/ETF metals, and parlay that into physical metals, in your own possession. With more market mayhem on the horizon, it is time to hunker down.
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Radomski: Gold’s Strength Relative To The USDX Is Over
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Coeur Mining Posts Loss During Third Quarter
Economy & Finance:
It appears that the Federal Reserve will continue its credit tightening campaign. Higher rates are bound to come in the coming months. At this juncture, I must repeat this advice: If you have any variable rate debt, then do your best to transfer that into fixed rate debt, soon! Variable rate mortgages and credit card rates will be absolute killers, when interest rates spike. Make the switch now, while it is relatively painless. Trust me: You will sleep much better in 2019 and 2020.
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The WSJ reports: Treasury Department to Increase Size of Debt Auctions
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Mortgage rates slide as echoes of 2006 haunt the housing market
Stocks:
At Zack’s: Three Things Investors Need to Know Ahead of the Midterms
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Cryptos:
The Dollar-equivalent value of Bitcoin has shown unusual stability in the past two weeks. Trading volume has been fairly light. So I must ask: Is this a sign of “building a base” or just general lack of interest? We may not know until December. Let’s see whether or not Bitcoin’s regular end-of-year seasonal bounce or run-up appears.
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October’s declines worst since 1970 by one measure
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Bitcoin Bear Market Could Last 18 More Months: BitMEX CEO
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Tether Opens $1.8 Billion Bank Account in the Bahamas
Tangibles Investing (Swiss Watches):
I have come to the conclusion that the modern western world has now reached the point of what I’ve dubbed tangibles reality disconnect. Consider the following: As of this writing, $950 USD can for instance buy you three things: It can buy a shiny new iPhone XR smartphone. Or it can buy a Tissot Ballade Powermatic 80 Swiss hairspring watch with a stainless steel case. Or it can buy a stainless steel Ruger Hawkeye M77 with a laminate stock, chambered in .308 Winchester. I picked those three examples because one of them typifies a modern absurdity: A Smartphone is a fragile, battery-dependent, software-dependent, piece of technology that will surely be considered “obsolete” with 10 years. In the year 2028 its resale value will be at best 1/10th of what you paid for it. And that is only if it is still working! Compare that to the other two items: A Swiss chronometer that will probably still be keeping accurate time in 100 years if well-cared for, or an all-weather rifle that will probably still be quite shootable in 200 years, even if it is given hard, regular use. Ask yourself: What will that wristwatch and that rifle be worth in 10 years? In 20 years? In 50 years? The investment choice is yours.
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A word of warning that dates back to 1999 from wristwatch collector William Gibson–who suspect still haunts eBay: My Obsession. Swiss watches have an allure all their own.
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That article mentions the Swiss Oris company’s Big Crown line of wristwatches. I can see how those designs can feed an obsession.
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Gibson’s article also mentions Jaeger two-register chronographs. He has good taste.
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And that same article describes the now famed Vulcain Cricket wristwatch. Yes, he definitely has good taste in watches. Do you see how delightfully obsessive these timepieces can be?
Provisos:
SurvivalBlog and its Editors are not paid investment counselors or advisers. Please see our Provisos page for our detailed disclaimers.
News Tips:
Please send your economics and investing news tips to JWR. (Either via e-mail of via our Contact form.) These are often especially relevant, because they come from folks who particularly watch individual markets. And due to their diligence and focus, we benefit from fresh “on target” investing news. We often get the scoop on economic and investing news that is probably ignored (or reported late) by mainstream American news outlets. Thanks!