Follow the chairman and buy sterling

Yesterday was my 70th Birthday. My wife and I were joined by our very longstanding chum Anthony Rentoul, who is (now that he is more than seventy-five years old) capable of being indiscreet if not on an industrial scale then certainly on an engaging basis. We need more Anthonys.

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The chairman got me to go long sterling last week. He was a shade premature in that the great Treasury lie machine was just swinging into action along the lines that Britons would be billions worse off per second unless they chummied up to J-C Juncker. (HM Treasury did this so that they could cosy up to the American banks which, post Brexit, are lining up to disappear to Vienna, Timbuktu, Ulan Bator and, we should not doubt, the Moon.)

It is all a question of studying economics. For the avoidance of doubt economics is the study of how humans behave in relation to scarcity. And to claim to know how they will to a greater degree than the rest of us is just conceit on the part of the Bremoaners.

So follow the chairman and buy GBP versus EUR, now 1.11.

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Finally, Orosur (OMI) has this morning come up with a most encouraging review of its future resources. It has been a problem for many years that punters do not know when the ore body runs out. Well, today it has got appreciably longer to go. I paid 16.25p.

Also, egg up the pudding and buy gold at $1,255.