Permanent Portfolio

21st century chronicler of the Permanent Portfolio. Free markets.

[Permanent Portfolio @PermPort]

@Gary7gmg @RealAlbanianPat The other parties not running is in fact how he could lose. He got 46% of the vote last time, if he gets that this time (assuming two candidates) he loses.

[Tom Harwood @tomhfh]

The most stunningly successful thing about the American experiment is that in the late 1700s, the thirteen colonies were hardly valuable at all.

They had no known great natural resources, they were far from a jewel in the crown of the British Empire.

The British were far more desperate to keep the profitable sugar islands than the thirteen colonies. That’s why upon the entry of the French to the war, peace was sought soon - and the priority was to keep the profitable Caribbean and control of the seas.

In seeking peace, Britain was thinking with its treasury not its heart. War is expensive. And while losing the thirteen colonies was embarrassing, it was not the kind of hit to the British economy that losing other colonies would have represented.

In stark contrast to the relatively barren North America, the Spanish Empire in South America had vast obvious natural resources. Spain extracted gold. But it never built anything to last.

The United States of America proved what far too many countries are yet to understand today.

The wealth of a nation is not in its natural resources. It is not fixed. The world is not zero sum.

America became the wealthiest country on the face of the planet, not thanks to its soil - but thanks to the men who stood on it.

The institutions they built - the English liberties they codified - created the basis for a stable, prosperous, market economy. Freedom under law.

It’s thanks to the systems of government the founders built that the United States became what it is today.

Were any other group of people - with any other ideas about how a society should be structured - to settle that land, America would be like any other country today.

But it isn’t. And that’s thanks to the enlightened ideas of its founding.

Happy Treason Day, cousins. 🇬🇧🇺🇸

[Permanent Portfolio @PermPort]

@LozzaFox Guy doesn’t get English humor yet thinks he’s British.

[Permanent Portfolio @PermPort]

@KarlDHarrison It’s dangerous is what it is.

[Permanent Portfolio @PermPort]

@jkenney @lucyhargreaves4 @Citizen004 Yeah, heaven forbid you advocate for a free market.

[Day Tripper ビートルズ英会話 @TripperEnglish]

Life is very short...

The murder of Charlie Kirk comes at a time when we're studying We Can Work It Out in our lessons, and I'll probably listen to the song about 30 times in the next week or so.

It's an especially poignant lyric with John having his life cut short, and with this week's events it's all the more gut-wrenching to listen to. Those two little children will never have their father's arms to run to, never have his words to guide them through life. Just heartbreaking.

... and there's no time for fussing and fighting, my friend

[Permanent Portfolio @PermPort]

For May, the #PermanentPortfolio (U.S.) was up 2.01%, thanks to a big month for gold.

May:
VTI +0.46% #stocks
TLT +0.00% #bonds
IAU +7.60% #gold
BIL -0.01% #cash

YTD (end of May):
+0.15%

VTI +12.42%
TLT -11.77%
IAU +0.00%
BIL -0.03%

[Permanent Portfolio @PermPort]

The #PermanentPortfolio (U.S.) was up 0.30% last week.

Last Week:
VTI +0.60% #stocks
TLT +1.20% #bonds
IAU -0.61% #gold
BIL +0.00% #cash

YTD:
+0.43%

VTI +13.09%
TLT -10.72%
IAU -0.61%
BIL -0.03%

[Permanent Portfolio @PermPort]

The #PermanentPortfolio (U.S.) was up 0.80% this week.

We’re now in positive territory YTD for the first time this year.

This Week:
VTI +1.45% #stocks
TLT +0.56% #bonds
IAU +1.17% #gold
BIL +0.00% #cash

YTD:
+0.15%

VTI +12.42%
TLT -11.77%
IAU +0.00%
BIL -0.03%

[Permanent Portfolio @PermPort]

The #PermanentPortfolio (U.S.) was up 0.56% this week.

This Week:
VTI -0.26% #stocks
TLT +0.43% #bonds
IAU +2.05% #gold
BIL +0.01% #cash

YTD:
-0.66%

VTI +10.81%
TLT -12.26%
IAU -1.16%
BIL -0.03%

[Permanent Portfolio @PermPort]

The #PermanentPortfolio (U.S.) was down 0.60% last week.

Last Week:
VTI -1.47% #stocks
TLT -1.54% #bonds
IAU +0.63% #gold
BIL -0.01% #cash

YTD:
-1.18%

VTI +11.11%
TLT -12.64%
IAU -3.14%
BIL -0.04%

[Permanent Portfolio @PermPort]

The #PermanentPortfolio (U.S.) was up 1.22% this week. That’s the biggest weekly gain since November.

This Week:
VTI +0.76% #stocks
TLT +0.57% #bonds
IAU +3.56% #gold
BIL -0.01% #cash

YTD:
-0.57%

VTI +12.76%
TLT -11.27%
IAU -3.75%
BIL -0.03%

[Permanent Portfolio @PermPort]

For April, the #PermanentPortfolio (U.S.) was up 2.79%. That’s the first positive month this year.

April:
VTI +5.04% #stocks
TLT +2.50% #bonds
IAU +3.63% #gold
BIL +0.00% #cash

YTD:
-1.74%

VTI +11.91%
TLT -11.77%
IAU -7.06%
BIL -0.02%

[Permanent Portfolio @PermPort]

The #PermanentPortfolio (U.S.) was down 0.35% this week.

This Week:
VTI -0.05% #stocks
TLT -1.01% #bonds
IAU -0.35% #gold
BIL +0.00% #cash

YTD:
-1.74%

VTI +11.91%
TLT -11.77%
IAU -7.06%
BIL -0.02%

[Permanent Portfolio @PermPort]

The #PermanentPortfolio (U.S.) was up 0.15% last week.

Last Week:
VTI +0.03% #stocks
TLT +0.57% #bonds
IAU +0.00% #gold
BIL +0.00% #cash

YTD:
-1.41%

VTI +11.97%
TLT -10.87%
IAU -6.73%
BIL -0.02%

[Permanent Portfolio @PermPort]

The #PermanentPortfolio (U.S.) was up 1.12% last week.

This Week:
VTI +1.41% #stocks
TLT +1.27% #bonds
IAU +1.81% #gold
BIL +0.01% #cash

YTD:
-1.55%

VTI +11.94%
TLT -11.38%
IAU -6.73%
BIL -0.02%

[Permanent Portfolio @PermPort]

The #PermanentPortfolio (U.S.) was up 0.80% last week.

This Week:
VTI +2.32% #stocks
TLT +0.00% #bonds
IAU +0.91% #gold
BIL -0.02% #cash

YTD:
-2.63%

VTI +10.39%
TLT -12.49%
IAU -8.38%
BIL -0.03%

[Permanent Portfolio @PermPort]

For March, the #PermanentPortfolio (U.S.) was down 0.68%. That’s three straight down months to start the year.

March:
VTI +3.65% #stocks
TLT -5.25% #bonds
IAU -1.09% #gold
BIL -0.01% #cash

YTD:
-4.43%

VTI +6.55%
TLT -13.92%
IAU -10.31%
BIL -0.02%

[Permanent Portfolio @PermPort]

The #PermanentPortfolio (U.S.) was up 0.42% this week.

This Week:
VTI +0.92% #stocks
TLT +1.42% #bonds
IAU -0.66% #gold
BIL +0.00% #cash

YTD:
-3.93%

VTI +6.43%
TLT -13.15%
IAU -8.99%
BIL -0.02%

[Permanent Portfolio @PermPort]

The #PermanentPortfolio (U.S.) was down 0.24% last week.

Last Week:
VTI -1.03% #stocks
TLT -0.96% #bonds
IAU +1.03% #gold
BIL +0.00% #cash

YTD:
-4.33%

VTI +5.46%
TLT -14.37%
IAU -8.38%
BIL -0.02%