“Alchemy is a kind of philosophy: a kind of thinking that leads to a way of understanding.” – Marcel Duchamp A funny thing occurred in the gold market during March of 2020. If you happened to be in New York and in possession of four 100-ounce gold bars, you could have traded those bars for one 400-ounce gold bar plus a handsome premium – some say as much as $100 an ounce. That ~6% divergence in price was highly unusual. Gold is gold, after all, so why should the exact same amount of gold sell for different prices?
Michael Kovrig and Michael Spavor apparently were spies, and such bad ones that the Chinese were happy to let them go on feeding misinformation back to USA via Canada, and in some mercenary (traitorous?) cases directly to USA. Then one day the Chinese found a better use for them. Trading spies is a long established tradition, perhaps you could do an article on the market efficiency of both free trades and market price for re-use of hashed out spies, ala Skripal.
Ahh how will the Canadians mess this one up: Either stop the mining of critical coking coal in the sake of "clean energy", which of course has nothing to do with coking coal; OR sell the Canada's strategic resources off to China - enemy of the people but not of the green-lined pockets of the Canadian government.
And here I thought coking gold was a Columbian thing....
Good post Doom. Didn't realize the prices had gotten so outrageous. As you said, interesting to see what the gas markets do this winter with all the pipeline talks. A lot of opportunities to make or lose a lot of money
Dumb question. So if the China and Australia MT price is usd is 333. Why is colonial trading at a 2$ per MT equivalent?
Michael Kovrig and Michael Spavor apparently were spies, and such bad ones that the Chinese were happy to let them go on feeding misinformation back to USA via Canada, and in some mercenary (traitorous?) cases directly to USA. Then one day the Chinese found a better use for them. Trading spies is a long established tradition, perhaps you could do an article on the market efficiency of both free trades and market price for re-use of hashed out spies, ala Skripal.
https://www.thecanadafiles.com/articles/michael-kovrig-and-spavor-are-spies-despite-obfuscations-of-canadas-mainstream-media
Lovin the substack
put it into "digital" gold... ₿!
Nice one, but please credit Sowell next time
Ahh how will the Canadians mess this one up: Either stop the mining of critical coking coal in the sake of "clean energy", which of course has nothing to do with coking coal; OR sell the Canada's strategic resources off to China - enemy of the people but not of the green-lined pockets of the Canadian government.
And here I thought coking gold was a Columbian thing....
Good post Doom. Didn't realize the prices had gotten so outrageous. As you said, interesting to see what the gas markets do this winter with all the pipeline talks. A lot of opportunities to make or lose a lot of money
Great post - informative and unique.