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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
Andy Hoffman - Miles Franklin
Irrelevant Gold
Before I get to today’s titled topic, we have several very important matters to discuss.  To start, it appears another of our long-time competitors is closing its doors, just as Tulving did last year.  We cast no aspersions on our competition, but remind readers that in the essentially unregulated bullion business, one must be very careful who one deals with.  There’s a reason we’ve been around 25 years with an A+ Better Business Bureau rating and zero registered complaints.  Competitive pricing
Tuesday, August 26, 2014
Alasdair Macleod - Finance and Eco.
Market Report: Summer drift continues
Gold drifted lower this week, with the price undermined by lack of interest on low volume and a slightly more hawkish tone in the FOMC minutes released on Wednesday. The chart below, of gold and open interest on Comex, shows how the price has declined while open interest has hardly budged from its historically low level. The underlying factor has been dollar strength rather than gold's weakness. Since last Friday the dollar has risen nearly 1% against the euro and pound and 1½% against the yen;
Monday, August 25, 2014
Charleston Voice
Confederate Inflation Rates (1861 - 1865)
The Chart (below right) shows the Annualized Confederate Inflation Rate.  The Annual Inflation Rates are calculated from information provided  by the Richmond Civil War Centennial  Committee on the purchasing power of Confederate Notes. The table below shows the actual Confederate Treasury Note Inflation data that was used to develop this chart. At the beginning of the war on January 1, 1861 one Confederate dollar would purchase one gold dollar. By May it to
Monday, August 25, 2014
The Energy Report
Musings on the Second Great Recovery Experiment and the Promise of Natural Gas: Ron Muhlenkamp
The Energy Report: Ron, in an online seminar in June, you compared the government's response to the 2008 financial panic and recession with its response to the recession of 1980�82. How are those recessions comparable? Ronald Muhlenkamp: We've had 12 recessions since World War II. We had a serious recession in 1973�74, and I've done a lot of work on recessions ever since. The 2008 recession shared a distinction with the 1980�82 recession: Each, at the time, was the most serious recession since
Thursday, August 21, 2014
Mish - Global Economic Analysis
Idiot's Guide to Austrian Economics
Congratulations go to Forbes columnist John Tamny and editor of Real Clear Markets for producing the "Idiot's Guide to Austrian Economics'. Ironically, that is not exactly what Tamny set out to do. The actual title of Tamny's article is "The Closing Of The Austrian School's Economic Mind". Point by Point Look Tamny: "It’s well known that some Austrians have a major problem with 'fractional reserve banking' whereby banks pay for liabilities (deposits) by virtue of turning those liabilities in
Wednesday, August 20, 2014
Andy Hoffman - Miles Franklin
Jackson Black Hole 
My weekly appearance on Kerry Lutz’s radio showis called “Manipulation Monday” – and yesterday’s segment takes the cake, surpassing even the “day of manipulative infamy (and failure)” that was Friday’s “convoy attack” interventions.  Fortunately, the cumulative impact of our work is starting to work; as with just 13% of Americans trusting the government, the “alternative media” that the Miles Franklin Blog operates in is become a powerful enlightening force. The reason we so emphatically speak o
Tuesday, August 19, 2014
Alasdair Macleod - Finance and Eco.
  No escape from the dollar as the currency standard 
All commodities and near-commodities are priced internationally in dollars, and the dollar is used for over 80% of cross-border trade settlements. Consequently the dollar is the base currency for all countries' foreign reserves, giving it its reserve status. However, there are now challenges to the dollar's hegemony, with Russia, China as well as the other members, dialog-partners and associates of the Shanghai Cooperation Organisation (SCO), taking deliberate steps towards doing away with the d
Sunday, August 17, 2014
Nick Barisheff - BMSINC
  August 15, 1971: Inflation Unleashed 
The general public, the media and most financial observers were largely unaware of the momentous event that took place on August 15, 1971. However, the implications of that event have had an enormous impact on global financial conditions ever since. On that date, US President Richard Nixon “closed the gold window”. In essence, this meant the US would no longer honour the Bretton Woods Agreement of 1944, which
Friday, August 15, 2014
Gary Dorsch - SirChartsAlot
Russian Bear Rattles Markets, but PPT Rides to the Rescue 
Investing is an inherently risky business with lots of uncertainties. At any given moment, the bullets can fly from any direction, and at a bare minimum, the investor hopes to emerge unscathed from the battlefield. But of course, the goal of investing is not just to break-even, but to earn a sizeable profit in the marketplace. And for the past 5-½ years, there has been no better way to maximize gains, than sticking with the traditional "Buy-and-Hold" strategy. It requires a lot of pa
Friday, August 15, 2014
Andy Hoffman - Miles Franklin
Decision Time!
Yesterday was a prototypical example of TPTB attempting to prolong increasingly tenuous “recovery” and “de-escalation” propaganda by attacking “unfavorable” markets like PMs, while supporting “favorable” ones like equities.  I mean, how many times can the “Dow Jones Propaganda Average” be supported by a 10:00 AM EST “dead ringer” algorithm, and PMs attacked at “key attack time #1” with naked shorting before the entire world gets it? This is what we wrote of in yesterday’s “Financial Achilles Hee
Wednesday, August 13, 2014
Antal E. Fekete - Gold University
The Invention Of Discounting

Monday, August 11, 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
The Gold Report
Jason Hamlin Says Gold Is Unstoppable, with Stocks Leading the Way
The Gold Report: You told The Gold Report in December 2012, "I think the official inflation adjusted [gold] high of $2,400 per ounce ($2,400/oz) will be taken out within the next 12 months." Why didn't this happen? Jason Hamlin: One reason is that inflation hasn't risen significantly until lately. That is due to the recent record low velocity of money. Trillions of dollars in new money were created to stimulate the economy and get us out of the financial crisis of 2008?2009, but the banks have
Wednesday, August 06, 2014
Steve Saville - Speculative Investor
  Currency devaluation: The most destructive policy of all
"Lenin is said to have declared that the best way to destroy the capitalist system was to debauch the currency. By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens. By this method they not only confiscate, but they confiscate arbitrarily; and while the process impoverishes many, it actually enriches some. The sight of this arbitrary rearrangement of riches strikes not only at security, but at confidence in t
Tuesday, August 05, 2014
Andy Hoffman - Miles Franklin
What Could Possibly Go Wrong?
It’s Monday morning, and the Fed’s blatant attempts to prop the world’s most important interest rate, the U.S. 10-year Treasury yield are becoming as laughable as they are desperate; and as the entire world will shortly see, futile.  To wit, after multiple attempts to push it above Friday’s manipulated 2.50% close, it is now trading at 2.47%, en route to multi-year lows in the coming months.  The Ministry of Economic Lies says U.S. GDP grew by “4%” in the second quarter marking a multi-year high
Monday, August 04, 2014
Nathan Lewis - New World Economics
The Reichsbank, 1924-1941
Here's something you don't see everyday: a look at Germany's Reichsbank during the 1920s and 1930s. The German mark was nominally stable vs. gold throughout the interwar period, but that was achieved with heavy capital controls especially after 1931 I think. This continues our look at some major central banks during the 1914-1941 period. July 27, 2014: The Bank of France, 1914-1941 July 20, 2014: The Bank of England, 1914-1941 Ja
Sunday, August 03, 2014
Surmounting Distortions & News Blackouts Threatening Investments
Week Ending (08/01/2014)“Booming Initial Estimate for Second-Quarter GDP Largely Was Fluff….“With the government’s estimates of GDP activity so far removed from reality, the issue here is not whether the U.S. economy is booming along or not.It is not; it never recovered from the collapse into 2008 and 2009.The issue with today’s numbers is in the timing of a more-formal financial-market and political recognition of the issues and ongoing severe difficulties involved here for consumers….“The GDP
Friday, August 01, 2014
Mark O'Byrne -
  Gold Could Go To Infinity - Ron Paul
Today’s AM fix was USD 1,297.50, EUR 968.43 and GBP 766.21 per ounce. Yesterday’s AM fix was USD 1,307.50, EUR  972.84  and GBP 770.39  per ounce. Gold fell $4.50 or 0.34% yesterday to $1,300.60/oz and silver slipped $0.02 or 0.1% to $20.60/oz. Silver for immediate delivery rose 0.2%  to $20.61 an ounce in London. Platinum was 0.2% higher at $1,485 an ounce. Palladium gained 0.2% to $882/oz and appears to be consolidating close to a 13 year nominal high of $889.75. Gold is flat in London this mo
Wednesday, July 30, 2014
Captain Hook - Treasure Chest
The Quickening
While you have never likely dreamed the classic cult flick Highlander would ever be used to make social comment of this nature, still, here we are today. It’s appropriate in my view because the unraveling of the West, Globalization, and America specifically is accelerating now – the economy, the markets, and the money. Along the way the US had its sword out beheading both friend and foe to gain more power and wealth, but now the brazen greed of American power Barrons has been exposed for all to
Wednesday, July 30, 2014