CPM: Money-market (Day 678)
Day 678, 18:36
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Published in Canada 
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by
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by Addy Lawrence
Day 678
Well, my run as Congressman is over. Apparently there is a tie-breaker rule in Congressional elections that candidates with the same amount of votes are ranked by their experience points. Alas, although I was the first candidate of the two others I was tied with to 3 votes, I did not have the highest XP and I lost.
Again, thank-you to those who voted for me in the Congressional Elections, much appreciated. I did get to vote on about five proposals which was kewl and I was completely transparent about it, just like how I intend to be in October when I run again for Congress.
Voting Record
Will you support decreasing import taxes on diamonds 50% to 20%? No. The opposite proposal was made two days ago and I supported it. I think we should increase import taxes on resources that are abundant in our country. For the record, this proposal passed, effectively reversing the one made two days ago. Why bother?
Will you support a decrease to the income tax on wood from 15% to 10%? No. The opposite proposal was made two days ago and I supported it. I believe in a flat tax system and that the rate shouldn't change. This will allow the free hand of economics to work and will provide General Manager's with the comfort that they need that business conditions will not change, this way they can employ their capital as best as effectively as possible.
International Market
The pool of CA$ offers on the market is dropping, offers totaled $14,390.33 which is down $3,499.77, or 19.6%, from $17,890.10 yesterday. Over $20,000 in offers have been closed in the last seven days. This is the lowest balance of offers noted.
On average, these offers are seeking 0.0291 gold per CA$1.00 which is up .0001, or 0.3%, from yesterday. This is amongst the lowest rates I have observed since I commenced the study on Day 662.
The eCanadian government approved the issue of CA$30,000.00 on Day 663 (fifteen days ago) and and another $40,000.00 on Day 671 (seven days ago). I surmise that it will take 5 days for the second approval to take root but look for the CA$ to take 10 basis point hit based on how the first approval went. The CA$ was trading at .291 gold at the time of the most recent approval.
If you are holding Canadian, I recommend to move to gold as CA$ appears headed for a drop. For the record, on day 674 I predicted it will hit 0.0283 by day 680.
Local Market
The offers of gold totaled 190.09 and is down 35.16, or 22.7%, over yesterday's 154.93 gold. With an increase in the pool of gold being offered, the price in CA$ became more competitive, the average offer of gold sought CA$35.680 in return, down by $0.566 or 1.6% from $36.114 yesterday.
The gold available to holders of CA$ is up. With the recent issue of money by the Canadian government ($30,000 on Day 663 and $40,000 on Day 671), there is proportionately more CA$ available than gold. All logical economic reason points to an increase in the number of CA$ per gold in the near future.
The cheapest offer for 1 gold was CA$35.298.
Arbitrage
Arbitrage represents the opportunity to make money via trading currencies. The opportunity exists if you can find another currency which trades with CA$ or gold, depending on what you are holding, between these two sums. The trick is to find it. If I find one, I'll publish it however they are tough to find and don't last long.
The implied rate on the local market is 0.0280 gold per CA$, calculated as 1G/CA$35.680. The international rate is 0.0291. The arbitrage, or spread between the two, is 0.0010, an all-time low for this study. This tight spread will slow down the trading activity as it is as tough as ever for gold holders to find a third instrument withing that spread.
Who's your daddy? Addy's your daddy!!!
Well, my run as Congressman is over. Apparently there is a tie-breaker rule in Congressional elections that candidates with the same amount of votes are ranked by their experience points. Alas, although I was the first candidate of the two others I was tied with to 3 votes, I did not have the highest XP and I lost.
Again, thank-you to those who voted for me in the Congressional Elections, much appreciated. I did get to vote on about five proposals which was kewl and I was completely transparent about it, just like how I intend to be in October when I run again for Congress.
Voting Record
Will you support decreasing import taxes on diamonds 50% to 20%? No. The opposite proposal was made two days ago and I supported it. I think we should increase import taxes on resources that are abundant in our country. For the record, this proposal passed, effectively reversing the one made two days ago. Why bother?
Will you support a decrease to the income tax on wood from 15% to 10%? No. The opposite proposal was made two days ago and I supported it. I believe in a flat tax system and that the rate shouldn't change. This will allow the free hand of economics to work and will provide General Manager's with the comfort that they need that business conditions will not change, this way they can employ their capital as best as effectively as possible.
International Market
The pool of CA$ offers on the market is dropping, offers totaled $14,390.33 which is down $3,499.77, or 19.6%, from $17,890.10 yesterday. Over $20,000 in offers have been closed in the last seven days. This is the lowest balance of offers noted.
On average, these offers are seeking 0.0291 gold per CA$1.00 which is up .0001, or 0.3%, from yesterday. This is amongst the lowest rates I have observed since I commenced the study on Day 662.
The eCanadian government approved the issue of CA$30,000.00 on Day 663 (fifteen days ago) and and another $40,000.00 on Day 671 (seven days ago). I surmise that it will take 5 days for the second approval to take root but look for the CA$ to take 10 basis point hit based on how the first approval went. The CA$ was trading at .291 gold at the time of the most recent approval.
If you are holding Canadian, I recommend to move to gold as CA$ appears headed for a drop. For the record, on day 674 I predicted it will hit 0.0283 by day 680.
Local Market
The offers of gold totaled 190.09 and is down 35.16, or 22.7%, over yesterday's 154.93 gold. With an increase in the pool of gold being offered, the price in CA$ became more competitive, the average offer of gold sought CA$35.680 in return, down by $0.566 or 1.6% from $36.114 yesterday.
The gold available to holders of CA$ is up. With the recent issue of money by the Canadian government ($30,000 on Day 663 and $40,000 on Day 671), there is proportionately more CA$ available than gold. All logical economic reason points to an increase in the number of CA$ per gold in the near future.
The cheapest offer for 1 gold was CA$35.298.
Arbitrage
Arbitrage represents the opportunity to make money via trading currencies. The opportunity exists if you can find another currency which trades with CA$ or gold, depending on what you are holding, between these two sums. The trick is to find it. If I find one, I'll publish it however they are tough to find and don't last long.
The implied rate on the local market is 0.0280 gold per CA$, calculated as 1G/CA$35.680. The international rate is 0.0291. The arbitrage, or spread between the two, is 0.0010, an all-time low for this study. This tight spread will slow down the trading activity as it is as tough as ever for gold holders to find a third instrument withing that spread.
Who's your daddy? Addy's your daddy!!!
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your my....daddy? 😮
Of course I am!!! Where did you think you got your good looks from? Don't forget to donate some gold to me on Father's day 😉