Articles related to interest
Nathan Lewis - New World Economics
Blame Gold
We have been talking about The Midas Paradox (2015), by Scott Sumner. July 23, 2017: The Midas Paradox (2015), by Scott Sumner. As you probably guessed from the three-word title, the book can be summarized in two words, which are: “blame gold.” This, as we have seen, is actually a relatively new notion, even if it enjoys some popularity today. The general consensus, which later (after 1950) became the Keynesian consensus, did not blame gold, or indeed, monetary policy in general, for the Great D
Tuesday, July 17, 2018
Frank Shostak
Why Wage Growth Is So Weak
The yearly growth rate of average hourly earnings in production and non-supervisory employment in the private sector eased to 2.3% in June from 2.4% in May.Many experts are puzzled by the subdued increase in workers earnings. After all, it is held the US economy has been in an expansionary phase for quite some time now. Softer real output growth important reason why hourly earnings remain under pressureAccording to the US Government’s own data, since 2000, in terms of industrial producti
Tuesday, July 3, 2018
Nathan Lewis - New World Economics
The View From 2011
Today, we will continue our discussion of the “gold sterilization” of 1937. June 18, 2017: The “Gold Sterilization” of 1937 June 25, 2017: The “Gold Sterilization” of 1937 #2: Fumbling and Bumbling We will look at an influential 2011 paper by Douglas Irwin, available here: All in all, I think the paper is pretty good, at least in its basic descriptions. It meanders into the usual channels of pointless Monetarism, with some equally pointless math, but it does
Monday, June 25, 2018
Alasdair Macleod - Finance and Eco.
  Understanding money and prices
This article explains the money side of prices, and why government currencies, unbacked by gold, are doomed to collapse. And why gold, which is the sound money chosen by markets throughout history, will retain or increase its purchasing power measured in the goods it buys over the coming years.Very few people have a full understanding of the relationship between money and goods. This is the relationship that sets prices. Yet, without that understanding, central banks will almost certainly fail i
Sunday, June 17, 2018
Mike Maloney - Goldsilver
  Gold Silver Confiscation: Can the Government Seize Assets
One concern of retail precious metals investors is the possibility of a gold confiscation.Imagine having the forethought to buy gold to shield your finances from an economic or monetary crisis—only to have it taken away from you by your government. You’d lose not just the protective buffer you put in place but potentially a chunk of your net worth.Gold confiscation may sound preposterous to investors used to securities or real estate. But it’s happened in the past enough times to make it a reaso
Friday, June 15, 2018
Nathan Lewis - New World Economics
The “Gold Sterilization” of 1937
Today, we will start investigating the U.S. recession of 1937, and along with that, claims that the Federal Reserve caused it by some sort of misbehavior. As is our usual practice, we will begin with just looking at some general information about that time. Industrial production had a short, sharp shock in 1937. Here’s what it looked like in terms of nominal GDP: I am not going to try to disentangle what was going on at that time. There were a lot of things, from the introduction of Social Sec
Monday, June 4, 2018
Jeff Clark - Goldsilver
Why Own Gold The Top 10 Reasons to Buy Gold Now
Is gold a good investment? Why should you own it?It’s natural and even prudent for an investor to wonder if a particular asset is a good investment or not. That’s especially true for gold, since it’s an inert metal and doesn’t earn any interest.But the reasons for owning physical gold go beyond the possibility of its price rising. Gold bullion offers distinct advantages that simply can’t be found in almost any other investment. These advantages give you power as an investor. And yes, one of thes
Friday, June 1, 2018
Hugo Salinas Price -
Silver and the Great Future of Mexico
Lecture of the author at the solemn ceremony of his appointment as Honorary Professor of Northwest Institute of Management of the Russian Presidential Academy. Embassy of the Russian Federation Mexico City June 27, 2017. Your Excellency, Ambassador Edward Malayan; Doctor Vladimir Shamakhov, Director of the Northwest Institute of Management of Russian Presidential Academy,members of the Honorable Diplomatic Corps here present, and esteemed audience: I am greatly privileged to be with all of
Saturday, May 19, 2018
What is Freegold
Four years ago, Freegoldtube made a video titled "What is Freegold?" It evolved out of a series of events that began with the stunning collapse in the price of gold, from $1,600 down to $1,380 in first half of April, 2013. That collapse caused Jim Sinclair to email me asking about Freegold, which caused him to then make some confusing posts on his own blog about Freegold, which caused Ein Anderer to suggest that we were in "urgent need" of a short and simple explanation of Freegold. He persist
Tuesday, May 15, 2018
Steve Saville - Speculative Investor
Why bad economic theories remain popular
Ludwig von Mises and Friedrich Hayek, the most prominent “Austrian” economists of the time, anticipated the 1929 stock market crash and correctly predicted the dire consequences of government attempts to artificially stimulate economic growth in the aftermath of the crash. John Maynard Keynes, on the other hand, was totally blindsided by the stock market crash and the economic disaster of the early 1930s. And yet, Keynes’s theories gained enormous popularity during the 1930s whereas the work of
Saturday, May 12, 2018
Ronan Manly - Bullion Star
New Gold Pool at the BIS Basle, Switzerland: Part 1
“In the Governor’s absence I attended the meeting in Zijlstra’s room in the BIS on the afternoon of Monday, 10th December to continue discussions about a possible gold pool. Emminger, de la Geniere, de Strycker, Leutwiler, Larre and Pohl were present.”      13 December 1979 – Kit McMahon to Gordon Richardson, Bank of England Introduction A central bank Gold Pool which many people will be familiar with operated in the gold market between November 1961 and March 1968. That Gold Pool was known as t
Wednesday, May 2, 2018
Chris Powell - GATA
  State Dept. memo explains U.S. policy to drive gold out of financial system
A long memorandum written in March 1974 by a U.S. State Department official for Secretary of State Henry Kissinger and copied to future Federal Reserve Chairman Paul Volcker, then the Treasury Department's undersecretary for monetary affairs, describes the desire of the United States and its options to prevent European countries from increasing the use of gold in the international financial system. The memo, titled "Gold and the Monetary System: Potential U.S.-E.C. Conflict," was recently discov
Sunday, April 29, 2018
Keith Weiner - Monetary Metals
Standing Ready to Lease Gold
We will take another break from capital destruction, to treat a topic which has come up this week. On March 11, we said: “…central bankers do not think about gold. Granted, they once did. In the 1960’s, there was the now-infamous London Gold Pool to keep the price of gold at $35. This is endlessly cited as evidence of current central bank price suppression, without bothering to mention that until 1971 the official US policy was to maintain the dollar to gold exchange rate of $35 to the ounce. …
Tuesday, March 20, 2018
Nathan Lewis - New World Economics
Economic Nationalism
I thought that I would chew over the idea of “economic nationalism” for a bit, to see if we could find something useful in it. The neo-liberal free trade/no borders consensus is a little too easily promoted by many today, apparently without much thought. I am generally in the neo-liberal camp, but I wanted to think about it. For some reason, “nationalism” is a naughty word these days, but all that it means is that one feels an allegiance to one’s “nation.” The main reason for the badmouthing of
Tuesday, March 20, 2018
James Howard Kunstler
If You Come to a Fork in the Road, Take It 
Various readers, fans, blog commenters, Facebook trolls, and auditors twanged on me all last week about my continuing interest in the RussiaRussiaRussia hysteria, though there is no particular consensus of complaint among them — except for a general “shut up, already” motif. For the record, I’m far more interested in the hysteria itself than the Russia-meddled-in the-election case, which I consider to be hardly any case at all beyond 13 Russian Facebook trolls. The hysteria, on the other hand, o
Monday, March 19, 2018
Gary Tanashian - Biwii
Bonds, Inflation And Amigos
The Bonds segment of NFTRH 491 took a turn to tin foil territory to allow the letter writer to expose newer subscribers to his ideological views and thus, bias. #491 also got pretty talky on the precious metals as it did a thorough review of the sector’s status, with silver’s symmetry to 2016 a very key item. Hint: An ill-fated bounce like so many that have come after the 2016 top is not what we are looking for with the next rally, but it ain’t gonna be easy. You can check out this article for a
Monday, March 19, 2018
Chris Powell - GATA
U.S. bank derivatives books larger since rescue of Bear Stearns
At the end of January 2008, in what would turn out to be its final annual report, Bear Stearns went into some detail about its big book of derivatives. The book had a notional value of $13.4 trillion at the end of November, Bear said, up more than 50 percent from a year earlier. A two-notch downgrade in the firm's credit ratings, it added, would require it to come up with an extra $353m in collateral. This huge cluster of financial instruments -- swaps, futures, forwards, and options -- may not
Sunday, March 18, 2018
Jesse - Le Cafe Américain
Pro America Rally Tonight -
“You demagogues are like the fishers for eels; in still waters they catch nothing, but if they thoroughly stir up the slime, their fishing is good; in the same way it's only in troubled times that you line your pockets.” Aristophanes, The Knights "They claim to be super-patriots, but they would destroy every liberty guaranteed by the Constitution. They demand free enterprise, but are the spokesmen for monopoly and vested interest. Their final objective, toward which all their deceit is direct
Sunday, March 18, 2018
Mark O'Byrne -
Crock Of Gold Hidden In Ireland Happy Saint Patrick’s Day
Crock Of Gold In Ireland? Happy Saint Patrick’s Day Wishing you health, wealth and good luck this Saint Patrick’s Day! May your home be filled with laughter  May your pockets be filled with gold And may you have all the happiness Your heart can holdThis Saint Patrick’s Day we bring you an interesting article from the Irish Post about the history of gold mining in Ireland and Ireland’s hidden gold hotspots. IRELAND has a long and rich history of gold mining, dating back to the 1800s and contin
Sunday, March 18, 2018
Chris Powell - GATA
This $8.8 billion fund sees financial stress spurring a gold rally
Rising U.S. interest rates, usually bad news for gold, are instead feeding signs of financial stress among debt-laden consumers and helping drive demand for the metal as a haven. That's the argument of Sprott Inc., a precious-metals-focused fund manager that oversees $8.8 billion in assets. The following four charts lay out the case for why gold could be poised to rise even as the Federal Reserve tightens monetary policy. ... ... For the remainder of the report:
Saturday, March 17, 2018