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"Resource Investor" - Physicals
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02 July 2013
FX: Look to Commodity Currencies
With all the postings yours truly makes and has made over the last half-decade or so - not to mention the daily newsletters published under the IDR ("Interconti Daily Report" and IWR ("Interconti Weekend Ramblings") going all the way back to 1990 or so (beginning with the "bulletin board" era even before the Internet shook of the bonds of "Academia" and "DARPA"), one single shining truth seems to permeate it all and that singular truth is encapsulated in general terms below.
IMHO, you will all do yourselves a huge favor by humoring me while taking the advice to heart, concentrating on the concept and learning as many permutations of it as humanly possible moving forward.
In 1980 or 1981, I attended a weekend seminar a Claremont-McKenna College in California given by John Rutledge and Arther Laffer (Laffer Curve sound familiar?).
Afterwards, I questioned the course contents in as unthreatening a way (and as far away from other participants) as possible, saying something to the effect of: come on guys, I just left the Hotel, Resort, Casino industry after 15 years all over the world including raising awareness of the consequences of currency and differential interest rates as a cost of doing business or value-added benefit of same -
... it CAN'T be that simple.
They both looked at each other and laughed.
I've lost touch with Laffer but had the occasion to exchange emails with Rutledge within the last 3-4 months or so.
When I reminded him of the seminar his response was "that was YOU?"
(the rest of the exchange will remain private)
- BUT -
You've just received the same advice he gave me.
Do with it what you will.
Labels:
Commodities,
fx,
macro policy,
macro-economics

