Yes...but!

December 5 2007

Home > Columns >Yes...But !Year 8-4

You know where the word and concept of Santa Claus comes from? Its origin goes back as far as December 6 in the year 343 A.D., the day Archbishop Nicholas died.

Nicholas was born in 271 A.D. in a wealthy family in the town of Myra, present day Turkey. When his parents passed away in an epidemic, he distributed his inheritance to the poor, became a priest, and later the Archbishop of Myra.

Soon after his death fact and fantasy about his goodness became blurred. Through his miraculous powers the Good Bishop supposedly could calm the storm when desperate sailors invoked his name. Also prison walls crumbled as soon as victims of persecution – still rampant then - prayed to him. People believed he even dropped dowries in the shoes of penniless maidens. No wonder he became the patron saint of sailors, merchants and, especially, children.

However, it’s only in the Netherlands that the feast of St. Nicholas remains observed, not as a religious festival, but as an occasion for young and old, rich and poor, Christian and Jew, and now, I imagine, Muslims, to celebrate, so, on the Eve of December 5, everybody there exchanges gifts in a mood of merriment.

I have fond memories of “Sinterklaas”, the name which, centuries later, became “Santa Claus” in the Anglo-Saxon world. You know the rest of that story.

Just as Santa Claus is prominently present here, so is this man in the Netherlands, attired as a bishop, with a high red mitre on his head, featuring a prominent cross, sporting a long, white beard, and sitting on a horse. His servant, Black Peter, always leads the splendid animal while carrying the dreaded rod to punish bad children, which he never does, of course.

Oh those songs! We, in humble Holland, would always celebrate his arrival with songs.

Here is one - and I translate:

“Look there is the steamer from faraway lands,

It brings us St.Nich-las, waving his hands.

His horse is a-prancing on deck up and down;

The banners are waving in village and town.

Black Peter is laughing and tells e-vry one,

“The good kids get candy, the bad ones get none!”

“Oh, please dear St.Nich-las if Pete and you would

Just visit our house for we all have been good.”

As small children we would get some toys, a chocolate letter with our initials and that be it: nothing big.

As teenagers we would among our friends and relatives, well in advance of the day, draw lots who would be the recipient of our small gift. Some sort of rhymed ditty would accompany our presentation, reflecting both the gift and the personality of the recipient.

I remember once getting a nail clipper, with a poem about the neglected state of my nails.

Since gift-giving is so much part of today’s ritual, I recommend a gift that will not only retain its value, but even increase over time, while having great symbolic significance as well: give gold!

Not only do we experience “Peak Oil”, but also the era of “peak gold” has arrived. The easy to get at gold has been gotten to, which means that the rest of this precious metal, buried deep in the earth, will be harder to mine, and thus much more expensive to extract.

Just as with oil, gold supply is falling, while rising demand has doubled its price in the last few years.

The rising price of oil makes inflation a sure bet. Gold is also the subject of the double pressure of less supply and a high inflationary push. It is now estimated that gold costs are rising 15 percent annually, from $400 per ounce to $460 by next year.

By dividing 15% into 72 it tells us that the cost to mine gold will double in less than five years, to $920 an ounce. At present gold sells for about $800, $120 below the cost of mining gold in five years!

Reuters reported last week that global gold demand in the third quarter rose 19 percent year-on-year to 947.2 tons, as more people bought bullion and jewelry consumption increased as well.

So, my idea for Christmas is to give gold to your beloveds. I believe your gift will be worth twice as much in 5 years.

It’s easy to buy gold. At the Royal Canadian Mint web site you can purchase beautiful gold coins for as little as $104.95 (Can). Or a one ounce Maple Leaf 99.99% pure gold coin, for $1,111.95. Sorry, the 5 ounce coin – priced at $5,999.95 – is sold out.

I recommend acting quickly because these prices go up as the price of gold increases.