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 investing in M1903 Springfield Rifles. (See the Tangibles Investing section.)
First up, over at Gold-Eagle: Gold’s Net Gain Of Nothing
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Economy & Finance:
Government debt at all levels, and personal debt is piling up at an insane rate. A breaking point is sure to come in the next few years. When it does, it won’t be pretty.
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Next, at Zero Hedge: Sweden Is On The Verge Of Going Completely Cashless: What Could Possibly Go Wrong?
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And another gem from Tyler Durden: Credit “Death Spiral” Begins As Loan ETF Sees Massive Outflows, Liquidates Quality Paper
Stocks & Bonds:
After last week’s rout, the NASDAQ, trading was up on Monday and then flat on Tuesday morning. By Tuesday afternoon, it was down 0.18% At the same time, the DJIA was up 0.14% to 24,685. Meanwhile, the Shanghai Composite was digging deeper into the red–down to around 2650. The prospects do not look good in Asia!
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A webinar titled CFTC’s Push to Enforce Insider Trading Rules in Commodities Markets will be held on December 13th, 2018.
Forex & Cryptos:
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Many crypto investors were expecting a “Dead Cat Bounce” in the price of Bitcoin, on Monday. That bounce didn’t happen. By 3 PM, Pacific Time, the Dollar exchange value of Bitcoin was still drifting downward, to $3,683. That 8.45% drop in 24 hours followed four previous days of losses. And as of Tuesday morning, BTC was down a bit more to $3,655. Even the technical traders seems to be capitulating. The Dead Cat didn’t have the chance to bounce, before being eaten by Mr. Bear.
Tangibles Investing (M1903 Springfield Rifles):
I know a couple of gun collectors who specialize in U.S. M1903 Springfield Rifles. These classic rifles use a Mauser patent design. The ’03 Springfield was in fact a patent infringement. The German Mauser manufacturer, Ludwig Loewe/DWM sued and won a $3 million court judgment, plus ongoing payments of patent royalties, as M1903 Springfield production continued. One odd footnote to the history of World War I was that the U.S. government continued to pay patent royalties to DWM during the course of the war! (The payments were transferred through a Swiss bank.)
Unaltered M1903 Springfield variants now bring top dollar from collectors. Sadly, the vast majority of M1903s and M1903A3s were “sporterized” after World War II, which destroyed their collector’s value. The few that are still truly original–without even their stocks refinished–are quite scarce and valuable. That is the way to buy them: Look for nice sharp Inspector cartouches, indicating that a rifle’s stock has not been re-sanded since its original Ordnance Corps acceptance.
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File Under “I Told Your So”: The Necco factory closed in July. Sealed cases of Necco wafer candies, which retailed for under $24 in June, are now being sold on the secondary market for $70 per case, plus $13 postage. (Did you put a bit of your money in Necco Futures, as I recommended, back in May?) The law of supply and demand is inescapable.
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!