GOLD AT COSTCO !!

 Feeling Bearish?
   My initial thought was, "This Can't Be Good!" Not wishing to present bad news at this time of year and not qualified to offer investment advice, I was reluctant to post this. It is, however, my fiduciary duty to do so and I call to your attention two CBC articles you may have missed.
   It is also the case that this post can be interpreted  as "good news", since the price of gold is going up. And, you can buy it at COSTCO! Relax and enjoy the new year celebration.
   About a matter such as this, it is better to go directly to the sources and not rely on MM. Here they are: 
   I just read this one today: "The Gold Rush Is Back --- And Now at a Big-Box Store Near You: Amid Global Instability, Gold Prices Are Soaring and Some Retailers Are Cashing In," Anis Heydari, CBC News, Dec. 30, 2023.
   "Warehouse stores in Canada aren't just selling large quantities of toilet paper these days — gold bars and coins and other precious metals are moving out of the realm of banking and jewellers and into their aisles....
   According to Costco's chief financial officer, Richard Galanti, the company "sold over $100 million [US] of gold" during a recent 12-week period. Walmart has also started selling gold, silver and platinum bars online to U.S. consumers.Costco didn't respond to requests for comment from CBC News, but officials had previously told investors their gold bars would sell out within hours of being listed online."

  I had missed this earlier one, which is linked in the article above:  "Costco Now Sells Gold Bars. Are They a Good Investment?" Padraig Moran, CBC News, Oct. 3, 2023.

   "Canadians can now buy gold bars at Costco, but one financial expert warns it might be an investment with limited return — unless you're planning to flee the country.

   "Part of [gold's] mystique comes from the ability that it's easy to carry around … you can carry a lot of money in a suitcase if you've got gold," said Will Huggins, an associate professor of finance and economics at McMaster University's DeGroote School of Business....

     The 1 oz., 24-carat gold bars are on sale at Costco in Canada for $2,679.99 a piece, with member customers limited to buying a maximum of two bars every seven days. CBS reported last week that Richard Galanti, chief financial officer at Costco, said the bars were selling out within hours every time inventory was added to the company's website."

Finding Gold at Costco
   I googled the Costco website for "gold", for which there were 647 'hits'. One of them is for the gold bar and here are the data about it:

1 oz Gold Bar PAMP Suisse Lady Fortuna Veriscan (New In Assay)

Features:

24-kt yellow gold

1 troy oz (31.1 g)

Item cannot be returned or refunded

This item is not eligible for price adjustments and/or any promotions

Limit of 1 transaction per 7 days (168 hours) per Membership, with a maximum of 2 units

Bar Highlights:

Contains 1 troy oz (31.1 g) of .9999 fine gold.

Tamper-evident assay card makes it easy to determine if the bar has been handled while guaranteeing the gold weight and purity. PAMP Mint places a thin plastic sheeting that safeguards your assay card during shipping.

They will deliver the gold bar, but are sold out right now. To find the current price I had to check into my Costco account, but it would be easier to get into Fort Knox. I assume it is around $2700, but remember, you can only buy two at a time. 

"Going to Hell in a Handbasket"
   As you can see, that expression was used in the article and I wondered about it, although I knew it did not generally imply that things are going well. Here are the introductory words from the very interesting Wikiwand entry. "To Hell in a Handbasket": 
"Going to hell in a handbasket", "going to hell in a handcart", "going to hell in a handbag", "go to hell in a bucket", "sending something to hell in a handbasket" and "something being like hell in a handbasket" are variations on an allegorical locution of unclear origin, which describes a situation headed for disaster inescapably or precipitately.

The Bonus:
   At the end of the wiki essay there is a list of items showing how the term is used in popular culture. The last one is: In the American television sitcom Friends (1994-2004), Helena Handbasket is the drag name of Charles Bing, the gay father of main character Chandler Bing.
   The late Mr. Bing was mentioned recently in MM, in "Schott's and Friends." 

Signs of the Times

     

   I remember years ago, when our conversations were richer, that someone realized we were talking about real estate. Horror of horrors! That was many years ago, before Trump, so I have no idea what we went on to discuss. It could have been about some medical malady, since our conversations may not have been as rich as I remember.

  Whether we are richer now than we were then involves philosophical and economic issues which I am not prepared to deal with, so we will stick with real estate. That subject came up again recently and it never really disappeared from the salons of which I am a member. In this instance, it appears that a short piece about a local property had been overlooked (or perhaps avoided) by the participants, all of whom were homeowners.

What Goes Up

   I will provide here some information which indicates simply, that in this case the property value went down. That is a scenario difficult to imagine, particularly for property owners, who think they perhaps should have taken the opportunity to invest in the more stable option, crypto-currency. 

   Among aspiring homeowners, schadenfreude did not achieve full force since the house that had fallen in value, was still far too expensive for them. As I said, whether we are richer now than we once were is a matter for debate, but perhaps we would all be better off if a house was considered as a place in which to live, rather than in which to invest.

Source:
   "This London House Dropped $300,000K in Less Than 2 Months: Sharp Rise in Interest Rates Punishing Owners Who Bought in Early 2022," Andrew Lupton, CBC News, Nov. 9, 2023.