The Peripatetic School

The Golden Canary

Why not have a bit of fresh weekend reading while Turd is under the weather. Feel free to share this short article with anyone whom it may benefit.

Gold has always been viewed as a safe haven for investors when world markets are in turmoil. When the bear comes out of the cave, sell your stocks and guy gold, then sit tight until the bulls are back. That cute little system has worked for people since our nation left the gold standard back in the sixties, but it has turned gold into the proverbial canary in the coal mine. When the canary stops singing, due to unbreathable or flammable gasses building up, the miners better get out. 

The Jeremiad

The other day I found myself saddled with the Jeremiah complex. I have been posting short warnings on Facebook (a site which most of my family reads vigorously) about the economic situation. I started the day the “satan signal” appeared. I just thought that was very interesting and people might be curious and open to hear about FED manipulation and the PPT. But each time I begin preaching, I have certain relatives to tell me to stop being a gloom ‘n doomer. (I probably shouldn’t have had that beer before I sat down to write my last Facebook post).

To buy or not to buy

I recall walking through an antique store in Centerville Indiana in 2001 and noticing that one dealer had hundreds of silver coins in cardboard holders on the table top for folks to look through, unwatched by security or anyone except the cashier about 30 feet away who was often distracted ringing people up. At $4.75 per ounce, the shoplifters were after better stuff.

I speak, therefore, I think, therefore I am.

When I first learned there was a thing called money, I soon realized I could exchange it for candy and toys. My allowance was in dollars. Everything I desired was denominated in dollars. My paper route customers paid me in dollars. Later, my paycheck was denominated in dollars, my expenses were in dollars, so were the value of my possessions—both assets and debts. My small business, my equity in the house, my mortgage, my car loan, dinner at the Mexican restaurant, groceries, vacations—they are all denominated in dollars. How can I ever escape?

The Exigence

A truth we teach in the field of rhetoric is that a speech responds to a problem in society and retains its power as long as the situation which called it forth still exists. We call this an “exigence.” I suppose there was a time when people read Patrick Henry’s most famous speech, after the war was over, after the exigence had been satisfied, and these people appreciated Henry for his passion and efforts. But the speech’s work was done, it had no more grounds by which to move people. It was just another lesson in history. But today a growing situation has reinvigorated Henry’s speech. And it forces those of us in the US to examine ourselves as a parallel exigence arises.

Fool me once, shame on you...

Well, its not every week, or even any week, that you will get two posts out of me. But recent events demanded to be shared lest any of the fine members of T-ville be deceived!

Turd, you should probably not read this...

Getting too close to home

What gained my attention this week, and prompted me to write this, as we close in on mid-September, were my recollections of predictions that something may happen this month or next, that we may indeed be approaching some system-changing pivot point. Rob Kirby got my attention two weeks ago. Of course, Jim Willie always piles on the evidence thicker. Then a series of ZH articles began to cite financial luminaries as concerned for the near future.

Wake up, O sleeper. Rise from the dead

As people begin to awaken from their slumber—awakening from a dream that all is well, that the economy is recovering, that the government statistics are correct and employment is improving—these people are seeing a grim reality that is not pleasant to look at. No wonder they want to stay asleep.

But even as they sleep, people know in their soul that something is wrong. A feeling they cannot shake. I know it when I look at the charts after a three day weekend.

Uninformed & Assuming

I hope that most of you recall the structure of logic that you should have learned in school: Do you remember the Syllogism—the thought formula that leads us from truth, through the available data to sound conclusions?

Given a major premise (truth), and considering a minor premise (fact), we can conclude that…

  • All men are mortal. Socrates is a man. Therefore, Socrates is mortal.
  • Lawbreakers try to escape the police. OJ Simpson ran from the police. Therefore, OJ broke the law.
  • Men have wider shoulders than women. Michele has wide shoulders. Michele is really a man.
  • Normal trading patterns reflect human psychology and news events. Gold charts are erratic. Therefore, human agency is unduly influencing the price of gold.

It is the “givens” that cause problems, not the logic. Our certitude of the major premise determines the likelihood the conclusion is true.

Burn me once … or learn from mistakes

Back in those heady days of plus-forty silver, I used to tell myself that only I wish I had been enlightened just a few months earlier. My actual “date of enlightenment” was about September 15, 2010. Oh! I would have bought lots more silver at $18-24 per ounce in the Fall of 2010. As it was, I had just discovered metals and was picking and choosing, looking for sub-spot pricing, wondering if it really would go higher. Well it did. Then it went back down...
 

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