RE:Hey Wood, Doug and EarlyMack, Wood and Early
I have been checking out nickel and I did look over NT and will do so again and let you know.
Meanwhile I see Stephen Roach, ex Yale and Morgan Stanley is saying that the US reserve currency status is over, and he reckons we'll see a decline of up to 35% in the US $ by the end of next year.
"The reason: a lethal interplay between a collapse in domestic saving and a gaping current account deficit. In the second quarter of 2020, net domestic saving — depreciation-adjusted saving of households, businesses and the government sector — plunged back into negative territory for the first time since the global financial crisis. At -1.2 per cent in the second quarter, net domestic saving as a share of national income was fully 4.1 percentage points below the first quarter, the steepest quarterly plunge in records that go back to 1947.
Unsurprisingly, the current account deficit followed suit. Lacking in saving and wanting to grow, the US levered its exorbitant privilege to borrow surplus saving from abroad. That pushed the current account deficit to -3.5 per cent of gross domestic product in the second quarter — 1.4 percentage points below that in the first period and also the sharpest quarterly erosion on record".
And that's before the covid crisis took hold
We don't know how much is priced into the POG currently
Barrick are heralding gold scarcity. Reserves with the majors are down on average from 20 years to 10 years, and calling for consolidation. Between the lines: gold is getting more expensive to find and the quality is lower, we need to pool recourses to find it.
Also, I took profits in SPA, then I did own alot. Some I've reinvested in NRG after Mack's recco. It's much more a spec play than SPA. I think the management are genuine, they are open on sharing the good news, and the disappoinments, and the prospect for the play looks promising. So an educated punt with antennae extended. But as with this business one should be prepared a accept "a long term investment", and hopefully not a total write off.