Welcome to "The Room"
The subscribers-only home page of Casey Research
The August Edition of the Casey Energy Speculator is now available: Click Here
As I am just back from Argentina, but on my way this morning to Maine for a wedding, this week’s edition of The Room will be short but hopefully of interest and value.
Foremost because clicking the link just below will take you to a video interview that Doug recently sat for in Vancouver. In it, he covers a wide range of topics, including his views on China, uranium, peak oil, geopolitics, internationalizing your life and assets and more.
You can view the interview by clicking on the link below.
[Speaking of internationalizing, over the next few days I’ll type up some notes on my recent trip to Argentina and send them to those of you who sent emails to our new firstname.lastname@example.org mailbox, set up for those of you interested in being kept up to date on our project in that beautiful and undervalued country. More on that front soon.]
The Trend Continues
Having been somewhat out of touch over the past week or so, I return (however briefly) to my desk to find story after story confirming the trend towards global inflation marching across my computer screen like a trail of ants.
For instance, yesterday it was reported that, over the last two months, Japanese producer prices rose at the fastest rate in 25 years. That trend cements the end of the zero-rate policy and therefore the Yen carry trade that has kept the cost of money so low on a global basis over the last ten years or so.
And there’s this: The Japanese central bank’s overseas commodity index, a weighted average of prices of 16 overseas commodity markets including crude oil, copper and aluminum, rose 27.2 percent in July from a year earlier.
And this: the Bank of Korea (BOK), that country’s equivalent of our Fed, just raised its rate by a quarter point to 4.5%. As is the case in this country, the BOK is caught on the horns of a dilemma: raise rates to stave off inflation but wound an economy that is starting to soften… or keep rates down and let inflation rip. Only in Korea, the impact of the increase on the economy is likely to be even worse than in the U.S.: more than 98% of housing loans in Korea are tied to floating interest rates.
The next year should be very interesting, indeed.
New Explorers’ League Summit… Mark the Dates
It now appears certain that the next gathering of the Explorers’ League will be held in Vancouver, October 15 & 16, 2006.
Our first Explorers’ League summit, held earlier this year in Chicago, was quickly sold out and according to just about everyone we heard from, the most valuable resource-oriented event they had ever been to. No hype. No promoters. Just solid facts, hard data, profitable insights and a unique opportunity to rub elbows with the world’s most successful mine finders and developers. We’ll post the entire slate of speakers and provide more details as they become available, but I’m happy to report that Lukas Lundin, who was unable to be with us in Chicago due to a schedule conflict, will be a headliner for the summit.
As was the case with Chicago, in order to allow for maximum audience/speaker interaction, attendance will be strictly limited to just 350 attendees. We’ll send you an email with more details once the schedule is firmed up.
That’s it for today. As always, thanks for reading and for subscribing…
Doug Casey: Signs of a Resource Sector Bottom
The prudence of owning precious metals is more paramount than ever.