https://www.zerohedge.com/health/not-just-seniors-french-doctors-report-50-icu-patients-under-60-years-old-netherlands-under
Looks like the Chinese where lying about the young being unaffected.
I have a question about cataract surgery (I will ask it tomorrow to my doctor, anyway).
We are in Quebec in which sanitary state of emergency has been declared yesterday. So we can expect that resources will be diverted to urgent needs.
I am scheduled for a cataract surgery in two weeks (first eye). The second eye is scheduled for June 10th.
I am considering the fact that the second surgery could be delayed.
I could delay the first surgery until after the covid wave, but I really need to “clarify” my vision.
My question is: how comfortable (or uncomfortable) is to live between the two surgeries? i.e: one eye done and one eye not done.
My work involves 8 hours of computer screen 5 days/week.
Thanks for your answers.
Regards
JM
At this point there’s a chance you won’t even make that 2 weeks appointment. First thing to go are non-essential surgeries to increase ICU capacity and you seeing worse does not make you die. It’s that kind of a deal.
However, since i also have a degenerative eye disease (Keratoconus) that causes me to see a glare around everything that is high contrast (such as light sources), i have some experience 
i walked around for a long time with old glasses where one eye got worse then the other, simply because “i see blurry anyway might as well save the money”.
It is annoying, but possible to adjust to. The main thing is which eye your dominant eye is. If your dominant eye is better then your non dominant eye, you will suffer greatly less. Your brain can switch between dominant eyes, as mine did once i got my new glasses a year ago causing my previously blurry eye to see better, but the adjustment process takes a while. It’s not pleasant in any case. And of course, the bigger the difference between both eyes is, the more annoying it’ll be. (thats why i ended up getting new glasses, cause it got too annoying at some point).
There’s another thing to consider - how much is the hospital going to be a source of infection while you’re there? Surgery means you go under, means you’re wheeled into a recovery room afterwards, how many nurses with Covid are going to be walking around there?
At this point; i would almost say if your eyes degenerate at similar rates, i’d just live with seeing less for a little while. But what ever you decide; make sure it’s a decision you can live with for atleast a year. Maybe 2. There’s no guarantee there’s capacity for elective surgeries as long as this thing continues anywhere down the line.
https://www.cdc.gov/flu/pandemic-resources/1918-commemoration/three-waves.htm
Nairobi,
I am not an expert in this matter but IMHO not all gold is created equal. I think there is a big difference between paper gold and physical metal which you have in your possession.
The current price is set by paper gold. When, not if, the correlation breaks then you will see a difference. There seems to be a quiet move toward safety at the moment and that puts demand pressure on the physical. Dealers will have to decide to either close their windows or start asking for premiums to cover the difference.
No way will I be doing a cut and run with physical PMs. ETFs, well maybe you will see some selling.
Ision, this is an interesting point. I’ve been thinking about all these low interest offers that I have access to, as in for a single 3% upfront charge I borrow at zero for 12 to 14 months tens of thousands of dollars. I hate debt and am almost debt free. But if one needed to put some cash aside just in case, paying 3% to do it may be inexpensive insurance if it really hits the fan. On the other hand, I’ve been prepping for years so don’t need to stretch myself, yet… This may not be true of some others here.
TWA
Note that the bank can also pull credit, and many of them will. My mother made the mistake when she saw an ING commercial in 2008 (before the crash) that said “if you have problems, call us, we’ll get you sorted”. She was gonna have back surgery and would be back up and running in a month or 2 so she wanted to make sure there wasn’t any problem.
ING pulled the whole €60,000 loan a week later, payable back in full immediately. Pushed my mom down a long long road of debt servitude.
Remember. Everybody right now needs liquidity. Everybody. There’s a reason why companies, after Boeing did so, started drawing down their credit revolvers en masse. First come first serve. And once it’s on your balance sheet, well. When you owe the bank $1000 you have a problem, but when you owe $1 million the bank has a problem. They withdraw that loan from Boeing and they stand to lose more then the shareholders.
If you draw down credit, you owe the bank. I wouldn’t really wanna be in a position where i owed anybody anything at this point. If there ever was a time to call in favors this would be it.
I work for an organic grains marketing coop- we sell semi truck and train cars of wheat, corn etc. One large mill in the northern tier of states has suspended deliveries of our wheat ‘due to the convid-19’- however their bins are full and this may be used as a reason to slow deliveries. Another mill we work with has instituted hourly chlorox wipe down into their normal cleaning activities. My real concern is transportation- we send 8-20 semi loads of organic grains every week. Truck drivers going thru truck stops at this point don’t have a lot of protection. I have been talking to our dispatchers, and at least hand sanitizer/ face mask etc. This is a weak link with the JIT truck services that our food system relies on. and then there is harvest coming up… we’re in Kansas/Nebraska/ Oklahoma etc. etc. Interesting times, hope that testing starts to get up to snuff in the midwest. If you don’t have food, TP becomes secondary…
Analysis strongly suggests that the NYC metro area has 5–10 days to quarantine the city or face dramatically overwhelmed hospitals, extremely high death rates, and a ruined economy.
The outlook for NYC and COVID-19 is bleak. The policy response is far too slow and too weak to meet the needs of the moment.
It is getting harder to pull myself away from the deep, dark pit of depression. Thank you for introducing me to this you tube channel
https://www.youtube.com/watch?v=nSXIetP5iak
I will be dipping into it frequently in the days to come. I read Hans Zinsser’s "Rats, Lice, and History’ in high school and later ‘The Coming Plague’ by Laurie Garrett, so covid19 was well within my world view for most of my life. But, I gotta say, reading about plagues is sooo preferable to living in one. But, living through one is sooo preferable to dying in one which is why I’ve been a prepper for 40+ years.
I will add my thanks to Chris and Adam for helping me keep abreast of our changing world.
https://www.theburningplatform.com/2020/03/15/observations-from-a-hotspot/#more-214376
I live in Montgomery County, PA. It has the highest number of coronavirus cases in Pennsylvania. Our 20 cases accounts for almost half the cases in PA. The King of Prussia Mall, the 2nd largest in the U.S., closed yesterday. They are making it tough for the ignorant masses to buy shit they don’t need with money they don’t have. All schools in PA are closed for at least 2 weeks. The worst news of all is the State is closing all liquor stores as of Tuesday. This caused mass hysteria as people overran the State liquor stores to stock up for the coming National Guard enforced quarantine. One of my sons works at a cafe inside a Marriott in Montgomeryville. He normally works six days a week. They closed the cafe and told him his next shift wouldn’t be scheduled until a week from now. Sounds to me like this is the way big corporations will try to keep their employees from collecting unemployment. Very noble. My other son works in IT and was outfitted with software to work from home starting tomorrow. The restaurant where my wife works is closing after today. I’ll be headed into my office tomorrow as we try to get a handle on the huge costs to our organization from this worldwide clusterfuck.
Hi All,
Anyone think it would be a good idea to start a group for us to be able to keep member posts and replies a little more organized? I think we all get some comfort interacting with like minded folks. I enjoy reading the comments but don’t like that replies to comments don’t stick together. I’m happy to set it up or maybe Admin wants to control it?
No, I am not on Facebook.
I like PP not Facebook.
AKGrannyWGrit
Nairobi said,
"Des, one of the reasons premiums on gold go up is because the price of gold falls below the cost it was purchased for."This is blatantly false, and the only reason anyone with a brain would say it is that they are purposely trying to misdirect you, which is happening all the time, even here at PP.com, so please, please be aware. I am completely untrusting and have a hair trigger for this kind of BS. All large metals dealers, and any that don't want to go out of business (ala Tulving, and others) Hedge their inventories. They would be insane not to. Go ahead, call any dealer and ask. How do they hedge? With paper futures contracts, that's how. This is really one of the only legitimate uses of these contracts... for use by producers and dealers in the supply chain that need to not get their face ripped off while they hold. So, ask yourself, who is Nairobi? You may think you know him/her because they made 100 posts and seem OK... but you have no idea really. Just somebody on the internet that said something. Something completely false, about Gold. No, the reason margins go up is because the dealers cannot get more inventory, hence they cannot make money. In this case, they preserve the precious inventory, and their cash flow (for now, until even that high premium inventory runs out) they do have by increasing premiums. It's that simple, and both Texas PM's and BullionStar have told us so.. and it's been posted elsewhere here on PP.com by myself and THC.
Totally agree! PP is a clean and respectful social network.
No need to go on places known for their “defects” (to stay polite).
Here is Wikipedia’s definition: “Foreign exchange reserve assets can comprise banknotes, deposits, bonds, treasury bills and other government securities of the reserve currency.[2] Some countries hold a part of their reserves in gold, and special drawing rights are also considered reserve assets.” The US kept silver in its reserve, until the mid 20th century, when it was sold off. A few countries: Australia, Poland and Peru maintain silver reserves to this day.
I am concerned the US could confiscate gold in a monetary crises, to bolster its gold supply vis-vis other countries. Which is why I also hold silver and US currency.
Here’e a schedule of Gold Reserves by country done in 2012. The amounts have certainly gone up since then, but gold continues to be with few exceptions the only physical asset in foreign exchange reserves:
.
World Gold Holdings as of December 2012
Tons
1 United States 8,133.5 76% 8133.5
2 Germany 3,391.3 73% 3391.3
3 International Monetary Fund 2,814.0 N.A. 2814
4 Italy 2,451.8 72% 2451.8
5 France 2,435.4 71% 2435.4
6 China 1,054.1 2% 1054.1
7 Switzerland 1,040.1 11% 1040.1
8 Russia 957.8 9% 957.8
9 Japan 765.2 3% 765.2
10 Netherlands 612.5 60% 612.5
11 India 557.7 10% 557.7
12 European Central Bank 502.1 33% 502.1
13 Taiwan 423.6 6% 423.6
14 Portugal 382.5 90% 382.5
15 Venezuela 365.8 75% 365.8
16 Turkey 359.6 16% 359.6
17 Saudi Arabia 322.9 3% 322.9
18 United Kingdom 310.3 16% 310.3
19 Lebanon 286.8 29% 286.8
20 Spain 281.6 30% 281.6
21 Austria 280.0 55.0% 280
22 Belgium 227.5 39% 227.5
23 Philippines 192.7 12% 192.7
24 Algeria 173.6 5% 173.6
25 Thailand 152.4 4% 152.4
26 Singapore 127.4 3% 127.4
27 Sweden 125.7 13% 125.7
28 South Africa 125.1 13% 125.1
29 Mexico 124.5 4% 124.5
30 Libya 116.6 5% 116.6
31 Bank for International Settlements 116.0 N.A. 116
32 Kazakhstan 115.3 22% 115.3
33 Greece 111.9 82% 111.9
34 Romania 103.7 12% 103.7
35 Poland 102.9 5% 102.9
36 South Korea 84.4 1% 84.4
37 Australia 79.9 9% 79.9
38 Kuwait 79.0 13% 79
39 Egypt 75.6 25% 75.6
40 Indonesia 73.1 4% 73.1
41 Kingdom of Denmark 66.5 4.1% 66.5
42 Islamic Republic of Pakistan 64.4 18.9% 64.4
43 Argentine Republic 54.7 6.4% 54.7
44 Federative Republic of Brazil 52.5 0.5% 52.5
45 Plurinational State of Bolivia 49.3 22.9% 49.3
46 Republic of Finland 49.1 24.6% 49.1
47 Republic of Bulgaria 39.9 12.0% 39.9
48 Republic of Belarus 38.5 41.4% 38.5
49 West African Economic and Monetary Union 36.5 12.9% 36.5
50 Malaysia 36.4 1.5% 36.4
51 Ukraine 35.2 4.9% 35.2
52 Republic of Peru 34.7 4.0% 34.7
53 Slovakia 31.8 67.6% 31.8
54 Ecuador 26.3 32.0% 26.3
55 Syrian Arab Republic 25.8 7.9% 25.8
56 Kingdom of Morocco 22.0 5.6% 22
57 Federal Republic of Nigeria 21.4 3.2% 21.4
58 Republic of Serbia 14.1 5.1% 14.1
59 Republic of Cyprus 13.9 58.3% 13.9
60 People’s Republic of Bangladesh 13.5 7.5% 13.5
61 Netherlands Antilles 13.1 36.3% 13.1
62 Hashemite Kingdom of Jordan 12.8 5.5% 12.8
63 Czech Republic 12.5 1.6% 12.5
64 State of Qatar 12.4 4.4% 12.4
65 Kingdom of Cambodia 12.4 16.6% 12.4
66 Republic of Colombia 10.4 1.8% 10.4
67 Lao People’s Democratic Republic 8.8 36.5% 8.8
68 Democratic Socialist Republic of Sri Lanka 8.1 5.3% 8.1
69 Republic of Latvia 7.7 05.5% 7.7
70 Republic of El Salvador 7.3 14.6% 7.3
71 Republic of Guatemala 6.9 5.8% 6.9
72 Republic of Macedonia 6.8 14.8% 6.8
73 Tunisian Republic 6.7 4.5% 6.7
74 Ireland 6.0 15.1% 6
75 Federal Democratic Republic of Nepal 6.0 [11] 6
76 Republic of Lithuania 5.8 04.1% 5.8
77 Kingdom of Bahrain 4.7 4.7
78 Republic of Tajikistan 4.4 4.4
79 Republic of Mauritius 3.9 06.5% 3.9
80 Canada 3.4 0.3% 3.4
81 Republic of Slovenia 3.2 15.8% 3.2
82 Aruba 3.1 24.2% 3.1
83 Hungary 3.1 0.3% 3.1
84 Kyrgyz Republic 2.6 7.5% 2.6
85 Mongolia 2.3 4.8% 2.3
86 Grand Duchy of Luxembourg 2.2 10.6% 2.2
87 Republic of Suriname 2.2 13.1% 2.2
88 Hong Kong Special Administrative Region 2.1 0.0% 2.1
89 Republic of Iceland 2.0 01.3% 2
90 Independent State of Papua New Guinea 2.0 2.8% 2
91 Republic of Trinidad and Tobago 1.9 1.1% 1.9
92 Republic of Albania 1.6 3.4% 1.6
93 Republic of Yemen 1.6 1.8% 1.6
94 Republic of Cameroon 0.9 1.2% 0.9
95 Republic of Honduras 0.7 1.4% 0.7
96 Republic of Paraguay 0.7 0.7% 0.7
97 Dominican Republic 0.6 1.1% 0.6
98 Gabonese Republic 0.4 0.8% 0.4
99 Republic of Malawi 0.4 8.9% 0.4
100 Central African Republic 0.3 8.4% 0.3
101 Republic of Chad 0.3 2.4% 0.3
102 Republic of the Congo 0.3 0.4% 0.3
103 Oriental Republic of Uruguay 0.3 0.1% 0.3
104 Republic of Fiji 0.2 0.0% 0.2
105 Republic of Estonia 0.2 6.0% 0.2
106 Republic of Chile 0.2 0.0% 0.2
107 Republic of Malta 0.2 1.6% 0.2
108 Republic of Costa Rica 0.1 0.1% 0.1
109 Republic of Haiti 0.0 0.1% 0
Sum 30958.2
I have read you have to have a sore throat as a core symptom of Covid-19 so that would make sense.
It’s one of those fake news stories that circulates social media. I fell for it at first. (I tend to fall for a lot of things unless they’re obviously dangerous) If it’s airborne it’s already in your lungs, it doesn’t take a brake halfway there. But sore throat is obviously a symtom and drinking water is not going to harm you.
thc0655
This article just helped me realize why staying out of the city for now is a good thing and will help others as well. Sadly there is a lot of money at stake for some and people tend to show a lot of bravado here. Which is not what NYC needs. Parents are keeping their kids out of school despite what the authorities are saying https://www.ny1.com/nyc/all-boroughs/news/2020/03/15/pressure-to-close-nyc-schools-mounts-as-acting-queens-borough-president-urges-parents-to-keep-children-home
We eliminated all of our excess hospital capacity several years ago after the findings of the Berger Commission and it has been an ongoing problem for the hospitals. Teaneck NJ in the nearby state of New Jersey just instituted voluntary quarantine and people hit the roof in my circle. Just telling them the facts as they are presented in the link, and emphasizing that we the majority are sacrificing for the good of the (hopefully) relative minority seems to help people understand. And allows people to feel good about staying home.
Hello Jim H, I just read your comment about me being a liar (!) and thought I would answer to that. You may not have much experience buying and selling gold and I suspect that is likely the case but I have been trading in this market for 40 years and nobody who knows me would ever call me a liar.
During periods of high price volatility such as we have just witnessed it is not unusual for premiums to increase. At the very peak in price two weeks ago the company in question may indeed have been having trouble sourcing supply and that is what they are claiming as the reason to apply higher premiums. And that is a legitimate reason when there are more buyers than sellers of certain coin and bars.
But at other times such as what has just happened with prices for precious metals dropping sharply and without warning there is a second case related to price sensitivity and inventory. The dealer in this case may not have been prepared for the sudden price drop but because they are a business they need a mechanism to account for losses they would otherwise have to absorb. That is also a reason to institute higher premiums and anyone who has been around this market long enough is familiar with it.
Not everyone is hedged as you suggest or they may not be hedged enough. Don’t forget its still people in charge and those sellers can be as smitten with metals as the buyers and perhaps they did not acknowledge the warning signs adequately. But even when hedging strategies are used they may not account for such a severe drop in price and this crash has been greater than 10% which is quite significant. So premiums in this case are more a measure of market volatility than anything else because the spread between the futures price of 1703 at Mondays price peak and the low on Friday was 173 dollars.
So yes, the premiums are there to offset losses in the physical market.