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Most read articles
Adam Hamilton - Zealllc
  Gold Rising-Rate Fallacy
Gold has slid during this past week on mounting fears of interest-rate hikes.Between the latest FOMC meeting’s minutes and the Fed’s annual Jackson Hole Economic Policy Symposium, American futures speculators’ rising-rate phobias have been whipped into a fever pitch.They worry gold will be crushed when the Fed eventually starts normalizing rates.But history shatters this fallacy that rising rates are gold’s nemesis.Today there is a near-universal belief among futures traders that rising interest
Friday, August 22, 2014
Philippe Herlin - GoldBroker
A Ferrari Sold for $38,000,000… What?
In Pebble Beach, California, during The Quails “Concours d’Élégance”, a 1962 Ferrari 250 GTO was sold at auction by Bonhams for $38 million, which constitutes an all-time record for a collector’s automobile. The price paid is 100 times that of the most expensive new Ferrari in their catalogue (F 12 berlinetta) and 30 times that of their latest special series car (F 150, limited to 499 units). What to think of this exorbitant amount? This is reminiscent of the art market in general, which is als
Sunday, August 24, 2014
Jesse - Le Cafe Américain
A Warning From 1995 About the Repeal of Glass-Steagall
Here is a reprint of a warning that was published in the NY Times in 1995 about Robert Rubin's and Alan Greenspan's misguided attempts to overturn Glass-Steagall. Any reasonably informed student of economic history ought to have understood this argument. There was a well-funded, decade long campaign led by the Banks to overturn Glass-Steagall.  A lot of propaganda was written, and lot of political connections were made, and a lot of money was spent. Too many
Saturday, August 23, 2014
Gordon Long - Market Analytics
A Sub-Prime Society
Delinquency Debt & the Collections Crisis The 2008 Financial Crisis is often attributed to a sudden freeze in liquidity in the Shadow Banking System, stemming from borrower default problems within the securitization of Mortgage debt. Six years later we have an even larger problem which is now associated with a national sub-prime economy securitizing its debt through the same unregulated Shadow Banking System. As prior to the 2008 Financial Crisis, credit regulations are once again mis
Friday, August 22, 2014
James Howard Kunstler
  Mr. Bad Example 
O f all the awful tensions roiling and coiling in American society, it’s only a little bit surprising that the racial module is blowing off now rather than, say, the stock market. Perhaps it’s a seasonal thing: race riots in the summer; stock market crashes in the fall, revolutions in the spring. Michael Brown, the 18-year-old shooting victim of a cop-stop in Ferguson, Missouri, was not the best candidate for martyrdom. But it was only after the violent protests to his killing got underway that
Tuesday, August 19, 2014
Alasdair Macleod - Finance and Eco.
SCO and Mackinder’s prophecy 
There will be a defining geopolitical event next month when India, Pakistan, Iran and Mongolia become full members of the Shanghai Cooperation Organisation (SCO). This will increase the population of SCO members to an estimated 3.05 billion. We should care about this because it is the intention of the SCO to do away with the US dollar for trade settlement. The nations joining in September are currently designated as Observer States and the only one left will be Afghanistan, which will presumably
Monday, August 25, 2014
Bob Hoye - Institutional Advisors
Springboard Buy
Signs Of The Times "Sources said broker's margin calls were met, but the event unnerved the Structured Finance Market (STACR)." - Reuters Hedgeworld, July 27. "Eight Companies About To Issue IPOs That Will Turn The Last Quarter Of 2014 On Its Head" - Money Morning, August 8 "Banks are lending to companies and individuals at the fastest pace since the financial crisis, helping propel profits to near-record levels." - Wall Street Journal, August 11 Stock Mar
Saturday, August 23, 2014
Louis James - Casey Research
Must-Read Book of 2014
, We’re going to take a break this week from our usual fare of industry insight for metals and mining investors, pulling back for a look at the big picture. The biggest picture, in fact: the current human condition, within the context of all of history—and even prehistory. This is the subject of our friend and fellow contrarian investor Bill Bonner’s new book, Hormegeddon. The cryptic title, I must admit, is my second greatest disagreement with what I think is clearly one of the
Tuesday, August 26, 2014
John Rubino - Dollar Collapse
  A World Without Fractional Reserve Banks and Central Planning 
Excerpted From The Money Bubble: What To Do Before It Pops by James Turk and John Rubino In a very real sense, it is fractional reserve banking and not money itself that is the root of so many of today's evils. Whenever fractional reserves are permitted, the banking system - including the one that exists today throughout the world - comes to resemble a classic Ponzi scheme which can only function as long as most people don't try to get at their money. A Better System Now
Thursday, August 28, 2014
Ron Paul
Ferguson: The War Comes Home 
America's attention recently turned away from the violence in Iraq and Gaza toward the violence in Ferguson, Missouri, following the shooting of Michael Brown. While all the facts surrounding the shooing have yet to come to light, the shock of seeing police using tear gas (a substance banned in warfare), and other military-style weapons against American citizens including journalists exercising their First Amendment rights, has started a much-needed debate on police militarization. T
Tuesday, August 26, 2014
John Rubino - Dollar Collapse
Yeah, This Will Work Out Just Fine 
The Islamic State (ISIS) has set a modern-day "emergent threat" record by going from obscurity to existential global menace in what seems like a matter of weeks. But as with most overnight sensations, there was a longer gestation period outside of the limelight. And like most military threats of the past few decades it was nurtured by, you guessed it, us. The US of course has a history of arming erstwhile allies only to have them become enemies in later conflicts. So when w
Tuesday, August 26, 2014
Axel Merk - Merk Fund
What's Your Exit?
Are you prepared for an “exit”? If the Fed pursues an “exit” from ultra low interest rate policy, are you prepared for an exit from the stock market should things turn South? We discuss how investors prepare, noting the most common mistakes investors make along the way. Are you prepared for an exit?No, you are not. We know because we meet investment advisers that have dropped their defensive strategies because they were losing clients. Those we meet that say they are prepared think they can get
Wednesday, August 20, 2014 -
The Kardashians and Climate Change: Interview with Judith Curry
Climate change continues to drive energy policy, despite the fact that there is no way to reconcile eradicating energy poverty in much of the world with reducing carbon dioxide emissions. This is one of the many conundrums of the climate change debate--a debate that has been taken over by social media and propaganda, while scientists struggle to get back into the game and engage the public. Judith Curry is an American climatologist and former chair of the School of Earth and Atmosphe
Tuesday, August 26, 2014
Steve Saville - Speculative Investor
  The "Escape Velocity" Myth
Making sense by replacing "despite" with "because of"In February of 2009 we wrote that if the story unfolded as we expected then a lot of future economic commentary would begin with the word "despite", but that in most cases the commentary would be a lot closer to the truth if "despite" were replaced with "because of". Our 2009 assessment remains applicable in that most commentators still don't get it and still say "despite" when they should be saying "because of". For example:1) Here's the way
Wednesday, August 27, 2014
Adam Hamilton - Zealllc
Gold Stocks Major New Upleg
The gold stocks are almost certainly in the early stages of a major new upleg.Given the widespread apathy and antipathy still plaguing this beaten-down sector, that?s hard for most traders to swallow.But the gold stocks? performance this year has already been outstanding.And heading into gold?s strong season, their gains should only accelerate.Gold stocks? overdue mean reversion higher is well underway.Gold stocks are the Rodney Dangerfield of the investment world, they get no respect.Wall Stree
Saturday, August 16, 2014
Michael Pento - Delta Global Advisors
  Why Global Bond Yields Are Tumbling 
Market pundits appear to be mostly dumbfounded as global bond yields continue to set record lows. For some examples; the 10 year German bund fell below 1%., the Italian 10 year note has dropped below 2.60%, Spanish bonds fell to 2.40 % and Japan is offering a shocking one half of one percent to borrow funds for ten years. Even Greece, whose bonds were on ECB life support just two years ago, has a 10 year note yielding below 6%. Worldwide bond yields are at all-time lows, leaving mark
Monday, August 25, 2014
Jesse - Le Cafe Américain
Some Wisdom About Leadership From the Depths of the Depression
"Management is doing things right; leadership is doing the right things." Peter Drucker In other words, management is about the process of organization. A manager may be a great organizer, but a terrible leader. Management is an essential skill. But it lacks traction in times of great change.  Management will almost always choose what is expedient, but a leader will do what is both practical from within a set of choices that are right.   Superior management skills in the hands of the effici
Sunday, August 31, 2014
Jesse - Le Cafe Américain
- It Seems Like It's Raining All Over the World
"He was hated and rejected, a man of sorrows, acquainted with our deepest grief. We turned our backs on him and looked the other way. He was despised, and we did not care." Isaiah 53:3 "Put me as a seal upon your heart, and as a sign upon your arm. For love is stronger than death, but hate is bitter as hell, the lights of which are formed of fire and flames." Song of Solomon 8:6 "Learn a love that is tender, wise, and strong.  Love with tenderness, not
Sunday, August 31, 2014
Alex Daley - Casey Reseach
Tech Bubble 2.0? Not According to the Stock Market
No, we are not in a tech bubble. Simple as that. This is not to say there aren’t some things for investors to take heed of. But as the definition of bubble goes, all the telltale signs are missing. As investors, our job is to predict the future. Seriously. Each time we make a bet on a particular investment, we’re essentially postulating a thesis about how the future will unfold in that specific instance. Since we also intensively study our markets, we often cannot help ourselves when it
Friday, August 29, 2014
Michael Pento - Delta Global Advisors
  The Keynesian Counterfactual is Japan 
We heard the "surprising" news last week that the Japanese economy shrank at an alarming 6.8 percent annualized rate in the three months through June, its biggest quarterly contraction since the 2011 earth quake and tsunami. Proving Japan's greatest national disaster, Abenomics, has failed and the Japanese economy has fallen victim to the scam called Keynesian economics. Defined as the belief that a country can tax, spend, devalue and inflate its way to prosperity. Since the popping of
Monday, August 18, 2014
  Dirty Float 
SteveH asked where it all started so I told him "Jamaica Accords". In good order, Cage Rattler found a nice rundown about the entire evolution of the world monetary system. Everyone here should read all of it because it helps put into perspective much of the Historical material that we analyze. As for an international or heads of government signed accord, the Jamaica is as close as you will ever see. Often, in politics, protocols are but forced standoffs. Just like when two armies stop shellin
Thursday, August 07, 2014
Ron Paul
  What Have We Accomplished in Iraq? 
We have been at war with Iraq for 24 years, starting with Operations Desert Shield and Storm in 1990. Shortly after Iraq's invasion of Kuwait that year, the propaganda machine began agitating for a US attack on Iraq. We all remember the appearance before Congress of a young Kuwaiti woman claiming that the Iraqis were ripping Kuwaiti babies from incubators. The woman turned out to be the daughter of the Kuwaiti ambassador to the US and the story was false, but it was enough to turn US
Wednesday, August 20, 2014
Philippe Herlin - GoldBroker
Stock Markets in their Third Bubble Since 2000
The S&P 500 just passed the 2,000-point psychological threshold, an absolute record for that index, created in 1950 and comprising the 500 largest companies traded on the U.S. stock market, thus being more representative than the famous Dow Jones Industrial Index, with its 30 companies. This new record would seem to show that the U.S. recovery is under way... but let’s step back a little in order to evaluate these numbers. As can be seen on this 1950-end of 2013 graph (reaching 1,600 points), t
Thursday, August 28, 2014
Alasdair Macleod - Finance and Eco.
The wages-fuel-demand fallacy
In recent months talking heads, disappointed with the lack of economic recovery, have turned their attention to wages. If only wages could grow, they say, there would be more demand for goods and services: without wage growth, economies will continue to stagnate. It amounts to a non-specific call to stimulate aggregate demand by continuing with or even accelerating the expansion of money supply. The thinking is the same as that behind Bernanke's monetary distribution by helicopter. Unfortunately
Saturday, August 30, 2014
Bob Hoye - Institutional Advisors
Springboard Buy
The following is part of Pivotal Events that was published for our subscribers July 21, 2014. Signs Of The Times "Housing Market On Course For 'Soft Landing'" - Financial Post (Toronto), August 14 "London home values fell 5.9 percent from the previous month to an average 552,783 pounds, the biggest drop since December 2007." - Bloomberg, August 18 "Pimco Scoops Up Quality Junk Cast Off In High-Yield Fund Exodus" - Bloomberg. August 19 "U.S. Funds Flock to Canada's Ener
Friday, August 29, 2014
Peter McKenzie-Brown - Language Instinct
Maya Devi Hospital
Maya Devi Hospital, in rural India High Impact in Rural India By Anil Jain Five years ago, the Rotary Club of Calgary Centennial offered to help fund the construction of a hospital for women and children in India, agreed to put $10,000 into the project, and asked RC Calgary to do the same. This was an audacious proposal in many senses: even in India, could such sums build a hospital? A Calgary-based charity named CHILD Foundation took up the challenge, and the results have been remarkabl
Wednesday, August 27, 2014
Hugo Salinas Price -
  Welcome to the New Dark Age 
The Powers That Be in the US and its allies seem to be committed to keeping the price of gold below $1320US/oz. Is the US control of the price of gold bad for China? It would appear that since China is purchasing large amounts of gold, keeping the price from rising is in the interest of the Chinese. Is the US control of the price of gold bad for Russia? It would appear that Russia has no urgent reason to see a higher price of gold. Is control of the price of gold considered as a damaging policy
Wednesday, July 30, 2014
Bob Hoye - Institutional Advisors
Mother Of All Rotations
"Trading in U.S. government bonds has dropped 25% in the past few weeks from the comparable period last year. Investment-grade and junk-bond trading have plunged 17% and 8.6%, respectively." - Bloomberg, July 22 "Banana Republic Trots Out 'Startup Guy' Look." - Wolf Street, July 23. "Startups" refers to the guys doing the hot new issues, otherwise known
Tuesday, August 12, 2014
Captain Hook - Treasure Chest
Good Vibrations
Who could forget the feel good tones first piped out by the Beach Boys some 50 years ago now – good good good – good vibrations. Just thinking about this tune is enough to get one off their feet and grooving. That’s the feel good part of this piece today, as it all goes down hill from here because we are about to discuss salient features of our present day economy. Back in the 60’s we still had the ‘great inflation’ and the ‘good vibrations’ this created in the economy ahead with the US (Nixon)
Monday, August 18, 2014
Mike Whitney - Counterpunch
Did Iran Just Knife Putin in the Back?

Monday, August 18, 2014