Coutts Bank has warned its toney customers of the risk of the global debt markets.
I remember, about thirty years ago, sitting with a gentleman banker, who was wearing formal dress with tails, as we discussed an account at Coutts. I had been recommended by a man named Jonathan Solomon who is no longer with us, God rest his gentle soul. He was my friend. It occurred to me today that when he passed on he was younger than I am now. Getting older, with its sweep of memories and experiences of places and past events, is like traveling through time. Just slowly.
The primary advantage of an account at the Queen's bank was that one never had any difficulty writing a cheque at any of the antiquarian bookshops, or theaters, and so forth, certainly anywhere in the UK and much of Europe, which was quite handy if they did not happen to accept American Express.
Like the old antiquarian bookshops, which are still there but somewhat paling beside the all reaching internet, genteel London bankers are becoming a thing of the past, in favor of the artful dodgers of Canary Wharf. The days we knew and loved are gone, forever.
I would take this as further evidence that the smarter money is heading towards higher ground and firmer assets.
And on the brighter side, Winter Is Coming.
Well at least that is the meme from The Game of Thrones which kicked off its third series, or season, in the US last night. It is the most widely pirated program on television these days as sci-fantasy fans seek out the product from overseas.
Apparently the HBO to Go servers bogged down and crash in the first hour that the series premiere was available last night. Or at least the young man at University has informed me so.
I introduced him to the series after having read all the books by George R. R. Martin. Like so many I am faithfully waiting for Mr. Martin to complete the next to last book in the series. This co-watching of the series with my son, and having read the books along with him, reminds me of how I watched him 'grow up' along with Harry Potter. Children help us to relive the things which we have forgotten, and to experience the joy of learning all over again.
At least GOT gives us something more diverting to talk about than Digital Signal Processing and imaginary numbers of the non-economic variety. Although his advanced maths skills helped me explore the more arcane mysteries of Bitcoin. He is my joy and my consolation. Happy 21st pal.
If you like the series, try the books. They are definitely good airplane and hotel reading.
Non Farm Payrolls on Friday. Consensus is 192k but the whisper is 210+.
ISM was weak this morning taking down stocks.
Silver had a couple of sucker punches intra-day from the metal shorts. Gold did slightly better.
Have a pleasant evening.
S’io credesse che mia risposta fosse
A persona che mai tornasse al mondo,
Questa fiamma staria senza piu scosse.
Ma perciocche giammai di questo fondo
Non torno vivo alcun, s’i’odo il vero,
Senza tema d’infamia ti rispondo.
