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 the recently discontinued civilian production Colt ARs, including the 6920 series carbines. (See the Tangibles Investing section.)
AG Thorson, over at Gold-Eagle: Gold Price Forecast – Preparing For An Autumn Low
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Economy & Finance:
At Zero Hedge: A Clueless New York Fed Is Examining Why Banks With Excess Cash Failed To Halt Repo Panic. Here is how the article starts out:
“When it comes to occasional (or chronic) dollar shortages, and the plumbing of the overnight lending market, which as everyone knows suffered a spectacular heart attack early this week when the overnight repo rate soared to 10%, the New York Fed and its open markets desk, is the authority on any potential plumbing blockages. Yet it now appears that the most important regional Fed when it comes to maintaining market stability, is just as clueless as the rest of us as to why the repo market froze up. sending funding rates to never before seen highs.
In an interview with the FT, New York Fed president John Williams, who earlier this year unexpectedly fired not only the head of the NY Fed’s markets desk, Simon Potter, arguably the most important trader in the world, manning the world’s most important trading desk but also the second most important person at the NY Fed’s “Plunge Protection Team”, the head of the Financial Services Group, Richard Dzina, said that the New York Fed is examining “why banks with excess cash failed to lend to the overnight money market, following a week that revealed cracks in the US’s financial plumbing.””
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Reader G.P. spotted this from the Perma-Bulls at CNBC: The next recession could crush many with credit card debt
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David Stockman: Interest Rate Derivatives Trading Explodes to $6.5 Trillion/Day
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Colt has announced that they are exiting the civilian long gun market, reportedly to concentrate on military and police contracts as well as handgun production. Apparently Colt’s managers have a death wish, and desire to go back into bankruptcy. In the short term I predict that Colt will become the pariahs of the civilian shooting world. But in the long run, after they’ve gone bankrupt and shut their doors, it is likely that Colt-made guns of all descriptions will still be quite collectible and increasingly valuable. After all, they are still quite well-made guns–despite the corporate management’s political posturing. I now recommend buying Colts only on the secondary market. That way, you won’t be rewarding Colt’s dimwitted management kowtowing to the tirades of The Man Who Would Be Master Beto. He’s a legend in his own mind. I suggest that you buy some used (but still “like new in box” LNIB) Colt 6920 carbines, while they are still somewhat affordable. I’ve seen that they’ve already jumped up by $1,000 or more on GunBroker.com. So I’m glad that I recommended them when I did, in July of this year. Hopefully some of you bought one or two of them, at that time.
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Anyone living in Wisconsin who is looking for a quantity of Hardigg and Miltope transit cases should jump on this bargain. Available face to face only, you haul ’em.
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Reader H.L. suggested this: Free collectibles you might have at home worth big money
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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 closely watch specific markets. If you spot any news that would be of interest to SurvivalBlog readers, then please send it in. News from local news outlets that is missed by the news wire services is especially appreciated. And it need not be just about commodities and precious metals. Thanks!