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 | Alasdair Macleod - Finance and Eco. |
Cryptos may destabilise fiat  |
| The assumption in some quarters is that crypto-currencies will replace gold as money, or at least challenge it. This is an error borne out of a misunderstanding of catallactics, or the theory of exchange. It also ignores the fact that beyond a few European countries and North America, gold is firmly money in the minds of ordinary people. I wrote an article on this subject, explaining why cryptocurrencies are not a new form of money, here.Anyone reading this article may wish to read my original aFriday, November 10, 2017 |
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| Alasdair Macleod - Finance and Eco. |
| Further thoughts on Gibson’s paradox |
| “The paradox is one of the most completely established empirical facts in the whole field of quantitative economics.” – John Maynard Keynes“The Gibson paradox remains an empirical phenomenon without a theoretical explanation” -Friedman and Schwartz“No problem in economics has been more hotly debated.” - Irving FisherIntroductionTwo years ago, I found a satisfactory solution to Gibson’s paradox.i The paradox is important, because it demonstrated that between 1750-1930, interest rates in Britain cFriday, September 8, 2017 |
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| Alasdair Macleod - Finance and Eco. |
| Cryptocurrency - its status as money |
| The cryptocurrency craze is fascinating to an economist, or at least a student of catallactics, because it is a test of the theory of exchange ratios and prices, which is what catallactics is about.For this reason, the outcome of the cryptocurrency craze is of great theoretical interest. It is also of interest to students of the psychology of speculation.Supporters of cryptocurrencies claim they are money. If they are unable to substantiate this claim, then we must conclude that cryptocurrenciesThursday, August 10, 2017 |
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 | John Butler - Goldmoney |
| The Golden Revolution, Revisited: Chapter I |
| Chapter IThis Insight is the third in the serial publication of the new, Revisited edition of my book, The Golden Revolution (John Wiley and Sons, 2012). (The first instalment can be found here.) The book is being published by Goldmoney and will also appear as a special series of Goldmoney Insights over the coming months. This instalment comprises the first chapter of Section I.View the entire Research Piece as a PDF here.On the Misunderstanding of Money“[Adam] Smith, far from being the founder Tuesday, June 6, 2017 |
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| Alasdair Macleod - Finance and Eco. |
| The importance of randomness |
| The greatest strength of a truly free market economy, where money is sound and does not corrupt prices, is the absence of cyclical action. With sound money, and consumers deciding for themselves their wants and satisfactions, having to choose between this or that instead of deploying unbacked credit to have this and that, there can be no cycle of credit, and no credit-driven business cycles.Central bank manipulation of money is intended to force everyone to act the same way at the same time. CenThursday, May 18, 2017 |
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 | Mish - Global Economic Analysis |
| US Election: What’s in Store for Equities and Gold |
| As we head into the final stages of the the US 2016 presidential election, one has to wonder: Does it matter at all who wins? And what are the implications for equities and gold?
James Grant discusses election and equity questions Fed is Now Hostage to Wall Street.
James Grant, Wall Street expert and editor of the investment newsletter Grant’s Interest Rate Observer, warns of a crash in sovereign debt, is puzzled over the actions of the Swiss National Bank and bets on gold.
Mr. Grant warns ofWednesday, August 24, 2016 |
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 | John Rubino - Dollar Collapse |
| Why We're Ungovernable, Part 14: Austria's Two (Formerly) Main Polit |
| Austrians went to the polls today to elect a new president. But for the first
time in living memory the country's two mainstream parties -- Austrian People's
Party and Social Democrats -- are out of the running while far-right and far
left candidates stage an acrimonious run-off. Early returns (as of Sunday morning
US Pacific Standard Time) had them too close to call.
Here's the BBC's overview:
Austria votes
in run-off between far right and independent
Austrians have begun vMonday, May 23, 2016 |
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| Alasdair Macleod - Finance and Eco. |
| The ECB and John Law |
| Last week, the ECB extended its monetary madness, pushing deposit rates further into negative figures.It is extending quantitative easing from sovereign debt into non-financial investment grade bonds, while increasing the pace of acquisition to €80bn per month. The ECB also promised to pay the banks to take credit from it in "targeted longer-term refinancing operations".Any Frenchman with a knowledge of his country's history should hear alarm bells ringing. The ECB is running the Eurozone's moneSaturday, March 19, 2016 |
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| Alasdair Macleod - Finance and Eco. |
| The ECB and John Law |
| Last week, the ECB extended its monetary madness, pushing deposit rates further into negative figures.It is extending quantitative easing from sovereign debt into non-financial investment grade bonds, while increasing the pace of acquisition to €80bn per month. The ECB also promised to pay the banks to take credit from it in "targeted longer-term refinancing operations".Any Frenchman with a knowledge of his country's history should hear alarm bells ringing. The ECB is running the Eurozone's moneThursday, March 17, 2016 |
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 | Chris Ciovacco - Ciovacco Capital Management |
| Valuations: Are Stocks Overpriced |
| Myth Busters Part III
We recently examined the performance of "safe" blue-chip dividend
stocks and "stable" utilities during
the 2007-2009 bear market; the results may have been surprising to some.
Since price-to-earnings ratios (PEs) are often used to identify favorable
entry points or "overvalued" levels for stocks/indexes, the next logical
question is:
Are PE ratios a good investment timing tool?
We All Want To Protect And Grow Capital
If we get down to brass tacksTuesday, July 15, 2014 |
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 | Michael J. Kosares - USAGold |
Gold as the portfolio choice for all seasons  |
| “You say: ‘I did not think it would happen.’ Do you think there is anything that will not happen, when you know that it is possible to happen, when you see that it has already happened?” – Seneca, 62 AD at the time of Emperor Nero’s debasement of Roman coinageFriday, February 14, 2014 |
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 | Charleston Voice |
| James Turk: We're Living Within A Money Bubble of Epic Proportion |
| On par with the South Sea & Dutch Tulip bubbles
by Adam Taggart
Saturday, January 25, 2014, 4:46 PM
James Turk believes the time we live in now willbe studied by future historians for generations to come. Just as we today marvel at the collective madness that resulted in the South Sea and Dutch Tulip manias, our age will be known as the era when society lost sight of what money really is.
And as result, the wrong kinds of wealth – today, that's mostly financial assets – are valued and pMonday, January 27, 2014 |
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| Mish - Global Economic Analysis |
| Bubblicious Questions: What Causes Economic Bubbles When Do Bubbles Burst Can the Fed Prevent Bubb |
| Today I am going to ask three simple questions that have easy to understand answers.
What Causes Economic Bubbles?
When Do Bubbles Burst?
Can the Fed Prevent Bubbles?
The Boy Who Cried Bubble
Before answering the questions (and hopefully many of you know the answers already), let's tune in to what the Dallas Fed has to say regarding bubbles in its report Globalization and Monetary Policy Institute Working Paper No. 167, entitled "The Boy Who Cried Bubble" by authors Yasushi Asako and KozSunday, January 26, 2014 |
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 | Jesse - Le Cafe Américain |
| John Law and the Mississippi Bubble |
| John Law and the Mississippi Bubble by Richard Condie, National Film Board of CanadaMonday, November 18, 2013 |
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| Alasdair Macleod - Finance and Eco. |
| More on bubbles and bricks and mortar |
| In my last article I concluded there are all the signs of money moving from purely financial activities into assets such as residential property. Conventional thinking is on the lines that we are seeing yet another property bubble being generated, and along with bonds and equities, all these bubbles will end in tears.A factual examination of the evidence casts doubt on this approach. There is only one true bubble, and that is the major currencies which are inflating in an alarming and co-ordinatFriday, August 16, 2013 |
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| Mish - Global Economic Analysis |
| Day Traders Take Control of Japanese Stock Market Using 300 Leverage; What Can Possibly Go Wrong |
| High-Frequency-Trading (HFT) Algorithmic Programs dominate the equity markets in the US with as much as 80% of the volume in some markets.
Day Trading With 300% Leverage
It's different in Japan. In what seems like a flashback to dot-com trading in the US in 1999, Abenomics Spurs Day Traders as Japan Stock Volatility Hits 2-Year High.
Sitting before a cluster of computer screens in an apartment with the drapes shut, it took Naoki Murakami seconds to make $3,500 betting $1 million that Tokyo ESunday, June 23, 2013 |
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 | Bob Hoye - Institutional Advisors |
 Policymakers Are Getting Margin Calls |
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Many in this assembly would agree that policymaking has been the biggest promotion in history and in recent desperation became unusually reckless.Since the crisis began in 2007, Mother Nature has been issuing margin calls on governments.What's more, even with the most complacent of taxpayers governments will not be able to meet the margin calls on their own folly.Monday, May 21, 2012 |
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 | Douglas French - Mises.org |
| Law’s Millionaires, Bernanke’s Billionaires |
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Being a billionaire isn’t such an exclusive group anymore.Back in 1998, there were reportedly 230 billionaires worldwide.Now, according to Forbes magazine, the number has grown to 1,226.The United States still has the most with 425, but now 58 countries have billionaires.Russia and China have nearly 100 each.Friday, March 9, 2012 |
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| Crisis Watch - Mises.org |
| Law’s Millionaires, Bernanke’s Billionaires |
| Friday, March 9, 2012 |
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 | James Turk - Goldmoney |
| Is gold in a bubble |
| Every once in a while a bubble forms in a market. Bubbles can occur in any market, whether stocks, commodities, real estate or as we know from history, even tulip bulbs.
Market bubbles are, as the name implies, unsustainable. They are manifest by inflated prices that go up and up to achieve unthinkable levels for a while, and in some cases, for a very long while.Monday, February 6, 2012 |
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