Friday, 2 March 2012

Gravity and the art of gold trading and bike riding

After my musings on gold yesterday I note a new posting on ZeroHedge of a presentation from The thing that struck me about this presentation is a) how much it looks like similar pieces on copper and b)  it assumes the demand picture suffers no deterioration from the current up move in price. Now this is fine as long as you believe that inflation is going to chip away at the real cost of gold etc. I'm not so sure. I guess thats my loss, but if you look at the investment slowdown in (say) China you might start to wonder about a deleveraging away from the construction based economy (remember Spain and Ireland) and back to something more sustainable. That could kill a risk asset rally and with it the great gold bull market.

I've decided that I need to take a day off from exercise today. It's my first proper break in 2 weeks and my legs to be honest feel pretty heavy at the moment. I might get my old Trek bike out for a trip down to the shops later.

Finally a quick mention that I joined the Sydney Cycling Club (thanks George). I needed to do this in order to get a license to race in some of the Grand Fondos this season. Joining a club here in Geneva didn't make a lot of sense given my plans to return to Australia.

Until I get back to Sydney I'll race in the colours of my local bike shop Jean Brun. The whole family at the shop has been fantastic to deal with and I strongly suggest that fellow riders visiting Geneva could not find a better crew to service and help you with all your needs. I'm going to compete in the Brevet Jean Brun on May 8 to celebrate all the good rides I've been privileged to participate in here in Switzerland.

Time to get the Jean Brun supplied BMC Road Racer SL02 out of the cave

No comments:

Post a Comment