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And That's the Way It Was 11/22/63

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13 minutes ago, Jorma said:

That little drop in RRP totals, you know, little,  just $100bn give or take, seems to have been a one shot deal. Maybe it was FTX related.

To pay for the T-bills. 


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Felt like it always felt during QE today: Constant, moderate buying all day. You left the screen for a while and knew when you come back we would be 3-4 points higher, not 10, not 20, just 3-4 points.

Guess the Treasury departments of some major corporates simply set the stock buyback bots on autopilot today.

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Alrighty, then!

W(ile E. Coyot)e may actually be getting somewhere on price.

This whole California pot-farm thing has been intriguing to discover.

I was driving around town with my youngest - he's in junior high, figuring it all out.

On one route to his school, we routinely pass a dispensary, which isn't that unique in this state & region. There's always a security guard in front when it's open.

A couple months back, my son asks, "Why is there always a security guard there - is it a bank?" Fair question.

So, I explain that it's a marijuana dispensary, and that there is a legal tension between permissive state law & restrictive federal law. And one way this manifests is that the marijuana economy is largely conducted in cash... because of federal regulations regarding knowingly financing illegal activity. So, while the rest of the stuff one typically buys uses some digital payment - credit card, debit card, Apple Pay, pay pal, whatever - retail pot is bought & sold for cash, because digital credit providers can't afford to anger federal regulators by involving themselves in the transactions... and so, a pot dispensary has unique security needs because of the large cash that accumulates.

I assume California pot farming is also largely cash-transacted. If you've enjoyed a successful harvest, you will have a bunch of cash.  You can imagine that one conservative & rational way to deploy harvest-cash would be to pay down the note on the farm.

Price history on this listing indicates it transacted for $299K in April 2008.

Then it listed in February 2022... just before spring.

Then it... probably saw a harvest stuck in the rounds.

Then it relisted in October 2022... right after harvest.

When initial asking was $415K.

Cut to $350K a month later in mid-November... and then to $275K the same day.

Someone wants out, and asking now is ~8% below April 2008 price.

This is the price discovery I've been waiting for.

Photo #6 shows the telltale "rounds" - I eyeball about 160 of them?

No claim of licensing in the listing... who knows?

Betchya the place is owned free & clear by seller.

Because cash.



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