Home > General, Markets > Supply, demand and buried treasure

Supply, demand and buried treasure

September 24, 2009

artifactsAn amateur “metal detectorist” recently stumbled upon  a trove of more than 1,500 gold and silver artifacts  in a Staffordshire, England field. 

The items date from the Seventh Century,  and archeologists say it is  the largest hoard ever found in Britain. 

Click here for the full story: http://www.nationalpost.com/news/story.html?id=2028795

Rocky makes two observations:

1) While the bull market for gold is several years old, the bull market for Metal Detectors may just be starting. (Click here for a half-price sale on the “Bounty Hunter Time Ranger Metal Detector and Deluxe Gold Pan Kit.”)

2) The collection has been officially declared as a “treasure trove,” and under UK Law is the property of the State. Even in a field, the tax man is never “afield.”

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  1. Warren Murdoch
    September 25, 2009 at 10:54 am

    The tragedy of the UK are the Fabian Socialists.

  2. September 25, 2009 at 1:07 pm

    Warren: Rocky recalls that as recently as the 1980’s, the British Labour Party included calls for the abolition of private property in its official platform. Fortunately, Maggie Thatcher would have none of it.

    But more on point, Rocky would argue that the real tragedy of the UK is that “Jack” is the most popular British name. Oddly, Rocky knows a statistically improbable number of men named Colin. (The preferred spelling is Colin, not Colon. Hat tip to Chester Bowles, not bowels….) 😉

  3. September 25, 2009 at 4:15 pm

    Taxes and treasure, the government takes it all, doesn’t it?

  4. September 25, 2009 at 6:28 pm

    @Anne: Yup.

    It’s become fashionable to say that the huge US deficit spending is “mortgaging our children’s future.” Here … some folks in the Seventh Century left some assets that survived thirteen hundred years. Is it fair to say that the only thing that will be left thirteen hundred years from now will be Ipod shells (as they are non biodegradable)?

  5. ld
    September 26, 2009 at 10:59 am

    At least the guy gets a small cut (even if even the cut is taxable?). Where I come from they would arrest him for stealing state property a couple decades ago. Eventually he would die from “unknown causes.” Today he’ll be shot on the spot and the treasure taken for the benefit of very few. The news article will report a “unknown body found near freshly dug earth… he must have been told to dig his own grave.”

  6. September 26, 2009 at 11:12 am

    LD: Thank you for that observation. It really puts things back into perspective…

    As http://masteroftheuniverse.wordpress.com/2009/09/22/forty-good-oscar-wilde-quotes/ was on an Oscar Wilde quote-athon, two platitudes seem apt:
    1) Ordinary riches can be stolen, real riches cannot. In your soul are infinitely precious things that cannot be taken from you.
    2) An optimist sees the doughnut; a pessimist sees the hole.

  7. allocator
    September 28, 2009 at 8:09 pm

    Rocky, point 2 wipes out point 1. 🙂

    Cheers,
    George

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