Profile picture
La nuit sera calme @NuitSeraCalme
, 8 tweets, 3 min read Read on Twitter
wow.... This 2009 Tony Deden speech is fabulous and more then ever relevant. Lots of food for thoughts.

MUST READ of the week (month?)

Two kinds of investors:
When money had substance.
On central banks reducing the value of what we have saved and the absolute necessity to adapt to changing circumstances.
"The presence of a «bubble» or a bargain cannot be concluded until one understands the factors that have contributed in the rise or fall of prices." => what's needed to be successful.
What is our money worth?
Tony stated in a recent @realvision interview that the price of gold is cheaper now on a nominal basis than it was in 2001. Here is what he said in 2009.

Note the last three sentence of this extract. Again this was in 2009...
"we now have two generations of economic agents who are entirely ignorant about the nature of money."
This is a speech from 2009. Amazing how little has changed. Well, actually, no, it's much worse...

You can (should) read the whole thing here: finews.ch/news/finanzpla…
Missing some Tweet in this thread?
You can try to force a refresh.

Like this thread? Get email updates or save it to PDF!

Subscribe to La nuit sera calme
Profile picture

Get real-time email alerts when new unrolls are available from this author!

This content may be removed anytime!

Twitter may remove this content at anytime, convert it as a PDF, save and print for later use!

Try unrolling a thread yourself!

how to unroll video

1) Follow Thread Reader App on Twitter so you can easily mention us!

2) Go to a Twitter thread (series of Tweets by the same owner) and mention us with a keyword "unroll" @threadreaderapp unroll

You can practice here first or read more on our help page!

More from @NuitSeraCalme see all

Profile picture
I worked for a big 4 audit firm (big 5 then) for 4 yrs in the late 90s. 1st in Paris (2 yrs) & then in London. One of my last assignments was the audit of a medium size firm in the financial sector. I was the "senior in charge", ie the guy managing the audit team at the client's.
It was a mess. The legal structure was very complex w/ lots of empty entities that had been built over time to avoid paying taxes. The business was close to bankruptcy, most of its accounting team had left & there was no consistent bookkeeping. The consulting branch of my audit
firm had been hired (at a huge fee) to rebuild the books. After a couple of weeks there I realized that I couldn't connect the dots: I understood some pieces of the puzzle but could not put it together. A guy in my team that was way smarter than me & that I liked a lot thought
Read 4 tweets
Profile picture
Fantastic video on the chemistry of happiness & gratification. This guy is an amazing speaker

h/t @DavidBCollum

Four biochemicals of happiness: endorphin, dopamine, serotonin & oxytocin. E&D are the “selfish” chemicals. Endorphins: mask physical pain.
Dopamine: focuses us on goal. Importance of tangible goal=> write it down. Danger = highly addictive (drugs, cell phones…) if unbalanced
Read 9 tweets

Related threads

Profile picture
1/ Below is a Q3 2018 update on the global monetary base, or base money. This is certainly not the M1 money supply. Not M2. Not M3. The distinction is important. What is base money? Is it #gold? Is it government fiat? #Bitcoin?? Have some charts to share. This is installment #2…
2/ To begin, it's important to understand the universal accounting identity: Assets = Debt + Equity. Today, it's true that all fiat money is debt-based. But before exploring fiat money, let's look at asset-based money.
3/ Traditionally, commodity money has been asset-based, most notably gold. Gold is a true asset of the holder. If you own gold free and clear, it is your asset, and no one else's debt, no one else's liability.
Read 64 tweets
Profile picture
1/ Very pleased to share a summer project: a comprehensive, supply-side view of the base money supply across the globe. What is base money? Gold? Fiat? Bitcoin?? Have some charts to share…
2/ To begin, it's important to understand the universal accounting identity: Assets = Debt + Equity. Today, it's true that all fiat money is debt-based. But before exploring fiat money, let's look at asset-based money.
3/ Traditionally, commodity money has been asset-based, most notably gold. Gold is a true asset of the holder. If you own gold free and clear, it is your asset, and no one else's debt, no one else's liability.
Read 61 tweets
Profile picture
1.
2. BIG
3. Founded in 1865 in England. It has 85,000 employees now. A market capitalization of around $200 billion.
Read 87 tweets
Profile picture
As the Turkish lira slides towards complete absurdity (currently at 4.87, down over 20% this year), the full power of the AKP media machine has swung into action. The problem, they say, is an international attack bent on destroying President Erdoğan. Let’s analyse that.
Others have made the argument for why Turkey is in this mess. Growth in the AKP era was based on cheap funding, globally low interest rates and, at first, an attractive narrative about the AKP itself.
All of those started changing with the taper tantrum in 2013. That is also often the date when the AKP narrative suggests the international attack, led by an interest rate lobby, started against Turkey.
Read 25 tweets
Profile picture
THREAD 1/ Turkey has been through a lot: a coup attempt, a referendum that concentrated power in the hands of the president, spillover from the Syrian civil war. But that doesn’t explain why the lira comes under pressure during every major global selloff bloom.bg/2KXaJb8
2/ Turkey’s currency has been one of the hardest-hit emerging-market currencies, shedding more than 10% of its value against the dollar and the euro in 2018 bloom.bg/2KXaJb8
3/ Investors complain that Turkey’s economy is overheating and its monetary policy remains too loose to contain runway inflation. It’s also burdened by twin deficits and the budget deficit has been exacerbated by a fiscal boost ahead of elections in June bloom.bg/2KXaJb8
Read 11 tweets
Profile picture
Ok Coming to @India_Progress rant against Technical Analysis - well to begin with there is nothing Technical about Technical Analysis. There are two aspects of trading/investing:
1. The underlying Business
2. Buying and Selling of Business that happens in market
It is the job of investing community to determine the price of Business based on hazaar things from cost of money to the cash flow business generates to how much potential business has. It's a guess work all the time when people decide what price to pay for the business
IBM can pay you 4% dividend yield and trade at PE of 10 but nobody will buy in prevailing environment when they can buy Amazon at PE of 200 :)) so to say that there is some perfect way to value business is NON SENSE
Read 7 tweets

Trending hashtags

#FOP #MegaFam #service #Expansion #delivery #RecordStoreDay2019 #SkripalSuspects #FactsMatter #breakfast #Winter #Trump #EXCLUSIVE #whitehousetalk2018 #medicaid #WednesdayWisdom #Memo #Bitcoin #SOTU #snapekillsdumbledore #Malaysian #presidenttrump #Venezuela #CYAComey #IranDealWithdrawal #Ohio

Did Thread Reader help you today?

Support us! We are indie developers!

This site is made by just three indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member and get exclusive features!

Premium member ($3.00/month or $30.00/year)

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!