Posted on 11/06/2007 4:44:12 AM PST by ml/nj
There was in 1986. I bought some, had it packaged up, and got money back in duty free. Swear it’s the truth.
Good call. So can you tell us what to do now with guaranteed results?
But that will not happen until the baby-boomers die. The net present value of the unfunded entitlement liability exceeds the net worth of the country. There's only one way out of this......print more money. That will drive the dollar into the cellar. This gold bull is just beginning.
Yup. But not anymore.
how/what changed that?
Mr. Bond (er, Bill Gross) complained months ago (hmmm, before or after he made the wrong bet with Pimlico, er Pimco?) that the spread between investment grade and junk was too small.
"Now, at some point, that becomes a really good deal, for buyers".
yitbos
Sounds like his watch, was stopped at the right time again. Yes, people had become awful comfortable with high risk in the bond market. Come to think of it, whenever spreads are narrow, is probably a pretty good sign of pending trouble. The issuers obviously love to sell junk when people pay solid credit prices for it. That of course leads to really bad debts, like it did between 98-00.
No idea but if memory serves the VAT on bullion was rescinded about the same time as the introduction of the euro.
http://www.usagold.com/international-gold/customs-duties-taxes.html
Looks like 1998. Applies to bullion-grade .999 stuff, coins and bars but not numismatic stuff that has a collector premium.
ML/NJ
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