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Antal E. Fekete - Gold University
Revisionist Theory of Depressions Can It Happen Again?
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Friday, March 3, 2017
Antal E. Fekete - Gold University
Hedging Non-Gold Investments With Gold
The cliché that the present credit collapse is "the greatest financial crisis since 1929" is the understatement of the century. One measure of the crises is the ratio of gross private debt to nominal GDP. This ratio captures the idea how many years of current output it would take to retire outstanding debt. In these terms, the crisis is truly unprecedented. The world plunged into the present crisis with far greater debt than the debt outstanding at the time when it plunged into the Great Depression in 1929. Add to this the qualitative change in the structure of debt. The most exotic of the Roaring Twenties era debt was brokers' margin lending on the stock purchases of clients. Today, in addition, we have: (1) derivative instruments valued up to one quadrillion dollars, (2) adjustable-rate mortgages, (
Wednesday, March 1, 2017
Andy Hoffman - Miles Franklin
Why The Cartel Is So (Rightfully) Terrified 
No event defines how rapidly America’s “leadership” has declined, then last night’s Academy Awards catastrophe.  At which, one of its most prestigious accounting firms accidentally handed Warren Beatty the wrong “Best Picture” envelope, causing it to initially be awarded to the wrong movie.  Yes, it was a “victimless crime” – but at a time when America’s accounting credibility is at an all-time low, it only adds to the perception of the incompetence that makes it unlikely to become “great again”
Monday, February 27, 2017
Antal E. Fekete - Gold University
  Silver and Opium 
From the mid-17th century more than 9 billion Troy ounces or 290 thousand metric tons of silver was absorbed by China from European countries in exchange for Chinese goods. The British introduced opium along with tobacco as an export item to China
Wednesday, February 22, 2017
Mish - Global Economic Analysis
Liberals, Not Trump, to Blame for Backlash
Here’s an interesting view in the Wall Street Journal that will ring a bell for for many readers: Liberals Killed the Freedom of Movement. By suppressing debate about Islam, nationalism and terror, the left set the stage for today’s backlash. Politicians across the West are saying the same thing in what is shaping up to be the widest rollback of the freedom of movement in decades. It’s not just right-wing nationalists like Marine Le Pen in France or Hungary’s Viktor Orbán. Centrists get it, too
Monday, January 30, 2017
Mish - Global Economic Analysis
Ideological Civil War in Davos: Dutch Premier Labels “Political Union a Dangerous Romantic Fantasy, Gone, Buried” 
European solidarity erupted in a full scale Ideological Civil War in Davos today as Dutch prime minister Mark Rutte called the EU’s dreams a “dangerous romantic fantasy”. “The whole idea of an ever-closer Europe has gone, it’s buried,” said Dutch premier Mark Rutte, dismissing calls for full political union as a dangerous romantic fantasy. “The fastest way to dismantle the EU is to continue talking about a step-by-step move towards some sort of superstate,” he said at the World Economic Forum.
Friday, January 20, 2017
Phoenix Capital - Gains Pains & Capital
The World’s Most – And Least – Miserable Countries in 2016
Authored by Steve H. Hanke of the Johns Hopkins University. Follow him on Twitter @Steve_Hanke. In what follows, I update my annual Misery Index calculations. A Misery Index was first constructed by economist Art Okun as a way to provide President Lyndon Johnson with a snapshot of the economy.  The original Misery Index was just a simple sum of a nation’s annual inflation rate and its unemployment rate. The Misery Index has been modified several times, first by Robert Barro of Harvard and then b
Tuesday, January 17, 2017
John Butler - Goldmoney
Top Ten Reasons why fiat currency is superior to gold (or silver) money
Top Ten Reasons why fiat currency is superior to gold (or silver) moneyIntroductionIn the spirit of the holidays and hope for a more prosperous 2017 I thought Insight readers might appreciate a little holiday humor. So please don’t take this edition too seriously. But if you happen to stumble across a ‘paperbug’ or two over the holidays, perhaps you could share some of the points made here as it will help them to realize just how hopelessly misguided they are. Cheers!View the entire Research Pie
Monday, December 26, 2016
Mish - Global Economic Analysis
Global Warming: The Right Kind
The fragile coalition of US President Obama, German chancellor Angela Merkel, and French President Francois Hollande, all waging a futile second cold war on Russia has shattered. Led by Donald trump, but fought by Angela Merkel, the world is warming up to Russia. Obama is gone, Hollande is gone (dropped out), and Merkel is left dangling in a wind strongly blowing against her. Please consider European Consensus on Tackling Putin Under Strain. François Fillon, the centre-right favourite to be Fr
Tuesday, December 20, 2016
Alasdair Macleod - Finance and Eco.
Trump, Russia and China
Even before he takes office, President-elect Trump is turning the world upside down.It has become clear his attitude towards Russia and China is very different from that of his predecessors. Amazingly, he is already wresting power from the deep state, causing it great resentment, which under Obama, Clinton and the Bushes, ran geopolitical policy. From January, barring accidents the world will not be the same, the establishment up-ended.This short article builds on information available to date a
Friday, December 16, 2016
Phoenix Capital - Gains Pains & Capital
Venezuela Enters the Record Book, Officially Hyperinflates
Authored by Steve H. Hanke of the Johns Hopkins University. Follow him on Twitter @Steve_Hanke. Venezuela’s inflation has officially become the 57th official, verified episode of hyperinflation and been added to the Hanke-Krus World Hyperinflation Table, which is printed in the authoritative Routledge Handbook of Major Events in Economic History (2013). An episode of hyperinflation occurs when the monthly inflation rate exceeds 50 percent for 30 consecutive days. Venezuela's monthly inflation ra
Monday, December 12, 2016
Egon von Greyerz - Matterhorn AM
As Europe’s Financial System Fails, Gold Will Rise
“The Die is Cast” for Europe and the EU. This is what Caesar said when he crossed the Rubicon in 49 BC marching towards Rome, leading to a major change in Europe’s history. The Italian referendum which took place on December 4 had a similar significance. The Brexit vote in which Britain decided to divorce from the EU started the breakup of the artificial construction of 500 million people being ruled by an unelected and unaccountable elite in Brussels. Even worse is an artificial paper currency,
Monday, December 12, 2016
Mish - Global Economic Analysis
Everyone Welcome, Competition Not Allowed
In response to Brexit is a Religious Battle (And You Can’t Negotiate Religion), a number of commenters missed a key point: the blatant hypocrisy of Germany on the freedom of movement of goods and services. Here is a key snip from the above article. EU Hypocrites on Free Movement of Services and Freedom of Establishment To understand the hypocrisy inherent in free movement of services, look no further than French rules on nearly everything. Businesses cannot fire workers, move elsewhere, shut p
Monday, December 5, 2016
Mish - Global Economic Analysis
Brexit is a Religious Battle (And You Can’t Negotiate Religion)
Lost in the entire debate about when Theresa May should file article 50, and constant bickering about how long Brexit discussions will take, is one simple fact: Brexit is now a religious battle. The EU insists the UK heed to four fundamental principles. Free movement of good Free movement for workers Right of establishment and freedom to provide services Free movement of capital On the other side of the table, The UK insists it will not abide by rule number 2 and that it is better off outside
Sunday, December 4, 2016
Mish - Global Economic Analysis
EU’s Struggle Against Populists, Ticks, and Fleas
There is an endless stream of commentators who are so utterly clueless that it’s a struggle keeping up. In fact, I cannot keep up. The best I can do is occasionally  highlight the most serious offenders. Today, I point my finger at Financial Times writer Philip Stephens. Stephens says Now Angela Merkel Wears the West’s Mantle. I have no problem with that title. In fact, it’s highly accurate. My objection is his accompanying rant. Stephens concludes with “Europeans have struggled for some time
Saturday, November 19, 2016
Mish - Global Economic Analysis
EU the Toothless Tiger, Totally Dysfunctional Until it Disintegrates Into Oblivion
The EU is splintering right before the EU nannycrat’s eyes, but they don’t see it. Instead they scream “more Europe”. Here are two more cases in point, both from today. The EU is already extremely upset with Ireland’s corporate tax rate, and seeks a uniform EU-wide rate. Viktor Orban, Hungary’s prime minister, says to to hell with that: Hungary to Offer EU’s Lowest Corporate Tax rate. Hungary’s government is to cut its corporate tax rate to the lowest level in the EU in a sign of increasingly
Friday, November 18, 2016
Mish - Global Economic Analysis
EU in Total Disarray After UK, France, Hungary Snub Meeting Demanded by Germany; Trump Meets Nigel Farage
The EU is in total disarray if not outright panic after calling an emergency meeting regarding Donald Trump. Amusingly, the UK, France, and Hungary snubbed the meeting. And over the weekend Donald Trump met with Nigel Farage, poking a fiery stick right in the EU’s eyes. Trump’s presidency is off to a great start. Please consider Britain and France Snub EU’s Emergency Trump Meeting Britain and France on Sunday night snubbed a contentious EU emergency meeting to align the bloc’s approach to Dona
Sunday, November 13, 2016
Mish - Global Economic Analysis
Not Getting It: Michael Moore, Hollande, Merkel, Financial Times, Stephen Colbert
The parade of politicians and media pundits who are totally clueless about what happened and why is miles long. Most writers are equally clueless about what to do now and how to react. Let’s kick of the parade of incorrect, political correctness with a Michael Moore and Stephen Colbert. Morning After Documentary film-maker Michael Moore has a Morning After To-Do List that allegedly has gone viral. Take over the Democratic Party and return it to the people. They have failed us miserably. Fire a
Friday, November 11, 2016
Mish - Global Economic Analysis
World Leaders React: Russia, UK, Germany, Hungary, Israel, Canada; Putin Seeks Normal Relations
Russian president Vladimir Putin was the first global leader to congratulate president-elect Donald Trump. Putin seeks normal relations with the US. That would be a good thing, so would immediate termination of all Russia sanctions. Leaders from 23 nations including Iran, Israel, Hungary, Philippines, France, Germany, Canada, and the UK also commented on the election. Fox News reports Putin Congratulates Trump via Telegram as world leaders react to election victory. Russia: Russian President V
Thursday, November 10, 2016
Nathan Lewis - New World Economics
Robert Mundell's Interpretation of the Interwar Period
Today we will look at Robert Mundell's interpretation of the Interwar Period, 1914-1944. October 30, 2016: Nonmonetary Perspectives on the Great Depression 3: Nonmonetary Causes October 23, 2016: Nonmonetary Perspectives on the Great Depression 2: Steindl, Schwartz, and Eichengreen October 16, 2016: Nonmonetary Perspectives on the Great Depression October 2, 2016: The Interwar Period, 1914-1944 When I entered the "supply side inner circle" around 2001, I was surprised to find that a lo
Sunday, November 6, 2016
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