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REPO Act Insanity
Daily Rap 04-22-2024
Nearly all markets seemed to breathe a sigh of relief that events in the Middle East not only didn't escalate but appear to have backed off a notch for now. That in turn looked to have trumped the consequences of the God-awful piece of legislation that the House passed known as the REPO Act, which stands for Rebuilding Economic Prosperity and Opportunity for Ukrainians (I'm not making this up).
Seizure Salad
Despite the waste of $60 billion and, by extension, Ukrainian lives, inside the act was the authorization to seize roughly $8 billion worth of Russian assets and give them to the Ukrainians. When I read that this weekend, I thought it had to be a mistake because such a law is so dangerous in its potential to shatter trust in the safety of savings...more
Last year's posts for Ask Fleck
Q: Unless my question from yesterday has already been answered, I will just withdraw the ASK Fleck I sent. It seems clear that neither Iran nor Israel want war.
Best regards,
Fleck: It was already answered and, yes, thankfully that seems accurate.
(posted: 4/19/2024)
Q: Bill,
Finally google did something good when they fired those bozos who protested a contract with Israel. Small step for them.
A good friend of mine works at nvda at a senior level and of course has enjoyed his options lately. He is libertarian/republican and hates progessives. One thing of interest is his comment about the nvda culture. NO ONE he says talks politics or religion. He has no idea if ceo is trump or biden supporter. He was nervous taking the job that he would be harassed. Nice to hear about their culture unlike google, meta et al.
Hope google fires more people. This shows that some of the people telling you to not talk about politics do NOT understand they can be intertwined.
Thanks for lettting me rant.
Fleck: I was impressed GOOG did what it did. Glad to know that NVDA is a meritocracy (the CEO is a hype-ster though).
(posted: 4/19/2024)
Q: For the investor with an interest in Tin/Filo ….
In our Q3 2022 letter, we highlighted our investment in Filo, which discovered a massive high-grade copper-gold-silver deposit. The company continues to delineate the resource with additional drilling but has yet to discover the boundary of the deposit which is already approaching 6 cubic kilometers of mineralization.
Investors have recently shifted their focus to news on the corporate development front, with an eye toward potential joint venture partners and synergies with other nearby Lundin Group assets. BHP is a strong contender for future partner, having already acquired a 6% stake, and there are opportunities to share infrastructure that may spur a combination of the various projects.
You can get the reports from Joe at Old West Inv Mgt ..
Investment Strategies
Fleck: Thanks to a long-time friend of mine for providing that info.
(posted: 4/19/2024)
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