With gold having run up to over $1400 an ounce, market sages are dusting off their files and looking at the Gold to Silver ratio. At present that stands at 92.4 which means that gold is 92.4 times as expensive as silver. The thinking goes that rather than buy gold which is expensive by recent standards, one should buy silver and then swap it for gold once the ratio returns to a more normal level. Take care! Over the past 50 years we have been here before in 1991 when the ratio reached just over 100. The precious metal markets are not for the faint hearted. Forty years ago the Hunt Brothers from Texas had the idea of cornering the silver market. The old adage is how do you make a small fortune? The answer is start with a large one! The Hunt family found that out-not that they are in any way near to being down on their uppers!
When Glaswegian John Irvine checked in for an EasyJet flight at Nice Airport to return home, and was told that he was over his baggage allowance, what did he do? Obviously he put on 15 shirts and jerseys to avoid paying an excess fee. Funnily enough he was hot…very hot…but with more Scottish Pounds and Euros in his sporran or no doubt in all of his 15 sporrans…!
With social inequality activist and protest folk singer Arlo Guthrie turning 72 this week, it is worth noting that when he appeared at Woodstock in 1969, he was only 22; despite this shot at fame he succeeded in getting the song Coming into Los Angeles that he performed there banned from the radio since it was filled with multiple drug references and small point……, “he was off his head.”
His best known song was the 20 minute ramble named Alice’s Restaurant which is the complete opposite of many of our restaurant experiences these days now that the accountants have taken over to the detriment of the customer:
You can get anything you want at Alice’s restaurant
You can get anything you want at Alice’s restaurant
Walk right in, it’s around the back
Just a half a mile from the railroad track
You can get anything you want at Alice’s restaurant
All that social inequality effort and…Arlo’s still worth $10 million today!
Discussion and Analysis by Humphrey Percy, Chairman and Founder
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