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 SurvivalBlog’s Founder and Senior Editor, JWR. Today, we look at investing in Valmet rifles. (See the Tangibles Investing section.)
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Economy & Finance:
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Blog reader H.L. spotted this: America’s largest cities drowning in debt, with Chicago leading the way, study finds. The Fox News piece by Frank Miles begins:
The report sought out “to determine what … overlapping financial entities mean for taxpayers’ bottom line.” Truth in Accounting said its purpose was to “calculate the various bills (and surpluses, when available) at the city government level and divide them out to determine a per-Taxpayer Burden.”
The two cities with the highest burden: Chicago and New York City; Chicago’s combined taxpayer burden: $119,110; New York City’s combined taxpayer burden: $85,600.”
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Forex & Cryptos:
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Here is how the CCN article begins:
“A man from Sydney, Australia will appear in court on Tuesday after turning a government computer into a bitcoin mining rig. He allegedly mined $9,000 worth of cryptocurrency on the modified machine.
The 33-year old IT contractor allegedly tweaked the federal government computers to optimize them for bitcoin mining. If found guilty, he faces a maximum of ten years in prison.”
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At Seeking Alpha: No, All Isn’t Clear For Bitcoin Yet
Tangibles Investing (Valmet Rifles):
The Valmet international conglomerate–headquartered in Finland–s best known for its agricultural machinery. (Shown.) Almost forgotten is their history as a firearms manufacturer. Up until the 1990s, they made what was considered by many experts to be “The Cadillac of AKs.” They company got their start making guns during WWII. But it was when they transitioned to making variants of the Kalashnikov family of battle rifles that they caught the attention of American gun collectors. It was a Valmet Model 76 that Robin Williams carried, in the campy 1983 movie “Survivors.” And it was the Valmet Model 82 bullpup that was featured in the “future war” vignettes in the original Terminator film.
Starting with the Valmet Model 62, and ending with the 92 series, Valmet used precision machining to produce some fantastic AKs. Valmets were only imported in small numbers from the 1970s to the early 1990s. They are now incredibly collectible, and their prices have gone stratospheric in the past two years. Although you can still find some Valmets at guns shows under $3,000, they often sell on GunBroker.com for $4,000 to $7,000.
So keep your eyes open for the Valmet Model 62, 76, 78, and 82, when perusing gun show tables. As with most other collectibles, it is “mint condition, in original box” specimens that fetch the highest prices.
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The HK91 magazines, parts, and accessories that I’m liquidating over at the FALFiles are selling out rapidly. If you are an HK rifle owner, then please take a look. I was digging in JASBOOR on Tuesday morning, and I found another big tote bin with 113 more HK-made and Rheinmettal-made G3 200 round HK91-compatible magazines that I had missed. They are mostly steel, and these are some of the most “minty” of all.It may be a few days before I get those sorted and added to that FALFiles post. Stay tuned.
SurvivalBlog and its Editors are not paid investment counselors or advisers. Please see our Provisos page for our detailed disclaimers.
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!