Saturday, November 07, 2009

New Gold Record

Yesterday for just a few moments the spot price of gold breached the $1100.00 mark.

Portending what. I must confess that I don't know. Perhaps a move into the $1150 to $1200 range, or perhaps a top that will now see a retrenchment to lower prices.

Chief among the news events leading up to this new high is the continual slide into obscurity of the US dollar leading some folks to try to protect at least a portion of their savings by converting them to the shiny stuff.

I've long sought it out myself, but rather than holding and hoping for new highs follow the old adage of buy it low and sell it a bit higher. When rates on CD's are one, two and maybe if you're lucky three percent a year, and inflation is considerably higher (although the PTB (powers that be contend it is so low as to be negligible and certainly the value of our homes ((most peoples biggest investment, so they would have you believe, in reality a place to hang your hat and shelter you and yours from the elements, nothing else) is deflating along with the value of stocks, 401k's and mutual funds, it doesn't make sense to buy gold and hold.

No, buy, make a couple percentage points a week and then do it all over again.

Unless you happen across something like I found lately.

The Gold Medal for the highest average cotton yield per acre in the nation back in 1919. 1360 pounds per acre is about 4 to 500 lbs higher that recent years averages.
And they did it with Mule Drawn Plows and Picked it by Hand.

How cool is that.

No, I don't think I'll refine this piece out.

Having a bit of redneck farmer left in my soul, if not my body, I think I'll keep this piece. After all it is 2 1/2 inches across, 1/8th inch thick and weighs almost 2 1/2 troy ounces of 14 karat gold. No, this will be kept. Unlike the Great-great-grand daughter of the guy who won it I'm not yet ready to trade my inheritance for a mess of porridge. (not that I'm related, but my inheritance is memories of a Rednecked farmer from a long line of farmers.)

Fairly successful farmers by most measures even if the lands have all been transformed into asphalt and concrete highways and crowded subdivisions. The strain still lives in my heart and soul.

We owe much to those hardworking individuals who tilled the soil and brought to our homes and stores the necessities of everyday living. They gave their hearts and souls to their trade. Living an individualistic self-sufficient life. Sometimes hard on themselves and their families they were followers of a tradition that made this country great.

I'll keep this memento, just like I cling to my God and my Guns.

Damned if I'm going to let marxist wannabes tell me how I'm to live my life.

Like Colonel Ludlow played by Sir Anthony Hopkins in Legends of the Fall said, "Screw 'em"


Anonymous said...

wonder what our great great grandchildren will part with that we now hold dear?

kdzu said...

God willing it won't be their freedom.
That is if the current generation doesn't give it up before then.
If so....God help them.

Jean said...

I don't blame you a bit for keeping that wonderful piece. Truly a piece of history. Living from the land, not off it. Replenishing its gifts (by caring properly for the land) that were earned through hard work.

I've never seen one or even heard of the award. Thank you for sharing it here.

kdzu said...

Anonymous, thanks for stopping by. I appreciate your comments. Come back any time.

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