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Saturday, February 21, 2009

Can't Smile - Yesterday's Truths Are Today's Ancient History

Why do I wake up angry? Truths written in cement are ancient history. I'm disappointed as the news of the day reveals that everyday "dependables" - things I have believed to be true for over seventy-five years, are gone. Where are the reasons to smile at the dawn of the day?

Calcutta snake charmers are protest marching because their profession is now illegal. A visit to India without seeing a coiled cobra strike? That's disappointing. best friend dropped 60% in demand and 25% in price - and, since diamonds have been demanded by me through the years...that's another lop off the value of my "God-forbid-something-terrible-happens-nest-egg. Yeah...that does make me angry.

Fortunoff Jewelers - my home away from home when I lived in NYC, filed for bankruptcy. Tiffany - my walk-through-once-a-week-affordable-treat - cut diamond prices due to lowered demand and things are so bad I can't even entertain the idea of investing in a perfect, reasonably-priced Tiffany diamond.

De Beers. South Africa's diamond miners held up the price and quality of diamonds forever and now, Russia, China - almost everywhere, diamonds are mined - losing their rarity and becoming plentiful - and their value decreases. Personal treasures are losing their place as security blankets...engagement rings - the young bride's dowry - that become a keepsake that appreciated monetarily in time are ending up with...

...pawnbrokers who are in their heyday. Pawn Shop owners are "on a roll", seeing $50,000. jewels being offered for sale and $100. gold bracelets walking in the door right after. With gold reaching $1000. an ounce it's as precious as gems. Soon the engagement ring gold setting will have near value to the precious jewel it holds.

With 100 banks predicted to fail this year and 1000 predicted to fail within the next three to five years...another long-held belief gone. Increased bank failures may make CD investments less safe. Another forever can't get a safer investment than a CD! That's gone..., diamonds are no longer forever security. Large amounts of bank failures that were "never going to happen again" are happening. 1950's $30. an ounce gold - always the cheaper commodity when buying a piece of jewelry - is now worth $1000. an ounce. Losing beliefs, particularly those related to finances, that I've held to be true for a lifetime, makes me angry.

There's no money involved - however, I found something that remains the same. Ah...a reason to smile: According to the Vatican sexes sin in different ways. Women are prideful. Men lust. I knew that! - and it's still true.

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