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. Most of these items are from the “tangibles heavy” contrarian perspective of SurvivalBlog’s Founder and Senior Editor, JWR. Today, we look at rare postage stamps. (See the Tangibles Investing section.)
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Economy & Finance:
Martin W. Armstrong: QE Versus Managing Benchmark rates.
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Voting with their feet: After Years of Threats, Schwab Joins Exodus, to Move Headquarters from San Francisco to Texas. Here is a quote:
“In 2015, Schwab still had 2,040 employees in San Francisco. By now, that has shrunk to 1,200.
So the writing was on the wall, when in May 2019, Charles Schwab himself indicated that moving the company’s headquarters out of San Francisco is being kicked around.
‘We’re pretty much a national company now,’ he told the San Francisco Business Times. He was “not sure” the company would remain in San Francisco. ‘We’ll continue looking at that as a possibility,” he said. “The costs of doing business here are so much higher than in some other place.’”
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OilPrice News reports: Reuters Confirms That Iran Was Behind The Saudi Oil Attacks
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Reader T.Z. flagged this: When the internet is cut off, protestors find it hard to rely on bitcoin
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And one more from H.L.: Bitcoin ATM Firm Partners With Largest Shopping Mall Operator In US
Tangibles Investing (Rare Postage Stamps):
I’ve recently had two readers ask me about investing in rare postage stamps. My advice is simple: Unless you want to become an expert in one small niche in the market that you can be certain has great upside potential, then don’t bother. The main problem with postage stamp investing is the new access to the Internet via smart phones, worldwide. So a stamp that seemed truly “rare” 20 years ago now can be all too commonplace, with the global marketplace acting like an enormous auction, in reverse. Sellers are jostling to under-bid each other. So, with the exception of a few ultra-rare stamps that sell for $10,000 USD+, the rest of the market is presently trapped in a slow downward spiral. The second problem with stamps is generational. The bulk of American stamp collectors are now in their 70s and 80s. The entire millennial generation has little interest in stamps, because they rarely receive letters from overseas friends and relatives. They get e-mails from them, or they chit-chat on Skype. So the long term prospects look poor for the development of a new generation of investor-age stamp collectors.
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