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 | Nathan Lewis - New World Economics |
| Devaluations of the 1930s Don't Justify Today's Funny Money Excess |
| Without question, the Great Depression was a time when the political
consensus moved from a Classical “hard money” approach towards a
Mercantilist “soft money” approach — leading, ultimately, to today’s
“print until the pain goes away” reaction. Actually, this trend had
started in the later 19th century, and was not fully expressed until
the 1970s – an evolution stretching over a hundred years or more.
But, the experience of the Great Depression period of the 1930s
stMonday, June 22, 2020 |
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| Graham Summer - Gains Pains & Capital |
| Eat Gold |
| Submitted by BullionStar.com
A popular phrase in segments of the mainstream financial media is that “You Can’t Eat Gold”. We don’t know who first uttered this comment, but it was more than likely a talking-head or Wall Street analyst on CNBC or Bloomberg.
The disparaging claim seems to be based on concluding that in a financial or monetary crisis, if you own gold, that “You Can’t Eat It”. And so, according to the logic of whoever came up with the phrase, this would make gold useless during a finMonday, August 13, 2018 |
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| 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 |
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| Bullion Vault |
| Gold Prices Bounce After N.Korea 'Dotard-Rocket Man' Drop as US Job Growth Leaps |
| GOLD PRICES bounced late-Friday to end the week unchanged per ounce after the United States reported the strongest jobs growth in 19 months.
Rallying to $1323 as London trade ended, the gold price had earlier slipped to 7-session lows at $1314 after Donald Trump became the first US president to announce a meeting with the leader of Stalinist dictatorship North Korea.
The Bureau of Labor StatistiSaturday, March 10, 2018 |
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 | Andy Hoffman - Miles Franklin |
| Debt and Delusions – Part 2 |
| This article was written for Miles Franklin by Gary Christenson. Part one is available here.
The problem with debt is the creditor expects to be repaid.
Sovereign debt will be “rolled over,” never extinguished, and repaid with new debt. We delude ourselves and pretend total debt will increase forever (it can’t). That explains global debt exceeding $230 trillion today and official U.S. government debt approaching $21 trillion, with unfunded liabilities adding another $100 – $200 trillion. There aSaturday, March 10, 2018 |
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 | Mark O'Byrne - gold.ie |
| Crypto Currency Backlash Sees Flight From Cryptos and Bitcoin |
| – Bitcoin falls from $20,000 to below $6,000 and bounces back to $8000– Top 50 crypto currencies lost over 50% of value in 24 hours– Over $60 billion wiped off entire crypto currency market in 24 hours– Markets concerned about increased regulation, manipulation & country-wide bans– ‘Growing global unease about risks virtual currencies pose to investors and financial system’ – SEC– Gold acting as store of value from “correcting” stock markets & crashing cryptos
– Gold is essentially flat in recenWednesday, February 7, 2018 |
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 | Jason Hamlin - Gold Stock Bull |
| CFTC / SEC Hearing on Cryptocurrencies Mostly Bullish |
| I wasn’t expecting that much open-mindedness from a government institution.
The Committee on Banking Housing and Urban Affairs met this morning to conduct a hearing entitled, Virtual Currencies: The Oversight Role of the U.S. Securities and Exchange Commission and the U.S. Commodity Futures Trading Commission. The witnesses were Jay Clayton, Chairman of the U.S. Securities and Exchange Commission (SEC); and Christopher Giancarlo, Chairman, U.S. Commodity Futures Trading Commission (CFTC).
The coWednesday, February 7, 2018 |
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 | Przemyslaw Radomski CFA - SunshineProfits |
| Unbearable Fall of Bitcoin |
| There rarely is a more interesting time to be observing the Bitcoin market than what we see now. In an article on CNBC, we read:
Digital currency bitcoin fell Tuesday as the 20 largest digital currencies by market capitalization all declined, according to CoinMarketCap.
Bitcoin traded 12 percent lower near $9,817 as of 1:19 p.m. ET, according to CoinDesk's bitcoin price index, which tracks prices from digital currency exchanges Bitstamp, Coinbase, itBit and Bitfinex.
Bitfinex was subpoenaed by tFriday, February 2, 2018 |
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 | Mish - Global Economic Analysis |
| Don't Blame Media or India for Bitcoin Debacle: Just HODL |
| India announced measures against Bitcoin sending it tumbling. Or so headlines claim. That's not really what's happening.
Reuters claims Bitcoin Slides as Facebook Ad Ban, India Clampdown Unnerve investors.
Bitcoin, the world’s largest cryptocurrency, skidded 11 percent on Thursday to its lowest since November, as a Facebook ban on cryptocurrency adverts and a growing regulatory backlash against the nascent market frightened investors.
Officials have said cryptocurrencies are used by criminals tThursday, February 1, 2018 |
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| Mark O'Byrne - gold.ie |
Davos – My Personal Experience of the $100,000 Event, $60 Burgers, Massive Inequality and the Blockchain Revolution  |
| – Davos elite hear warnings of complacency akin to 2007 as economic risks grow
– Toxic mix of infallible belief, arrogance, megalomania and economic ignorance
– Some express concern economies are vulnerable due to imbalances, trade, geo-political tensions– Soros: Trump creating ‘mafia state’ & ‘set on a course towards nuclear war’ with N Korea– Bond bear market, rising interest rates and massive $233 trillion debt are some of the many threats to global stability
– Davos theme explores massive inFriday, January 26, 2018 |
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| Mish - Global Economic Analysis |
| New Phase in "America First" Trade Policy |
| Heaven forbid consumers in the US get a break. Trump wants none of it.
I have idea. Let's raise prices and at the same time kill anything clean energy has going for it.
We call this policy "America First".
The Wall Street Journal reports U.S. Sets New Trade Tariffs, Signaling New Phase in ‘America First’ Policy.
President Donald Trump slapped steep tariffs on imports of solar panels and washing machines, kicking off his second year in office by showing he’s ready to start implementing his longThursday, January 25, 2018 |
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| Mish - Global Economic Analysis |
| New Phase in "America First" Blatant Tariff Stupidity |
| Heaven forbid consumers in the US get a break. Trump wants none of it.
I have idea. Let's raise prices and at the same time kill anything clean energy has going for it.
We call this policy "America First".
The Wall Street Journal reports U.S. Sets New Trade Tariffs, Signaling New Phase in ‘America First’ Policy.
President Donald Trump slapped steep tariffs on imports of solar panels and washing machines, kicking off his second year in office by showing he’s ready to start implementing his longTuesday, January 23, 2018 |
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 | Mac Slavo - ShtfPlan |
| Mining CEO Warns Of Massive Deficits: “We’re At Critical Levels… Less Than 10 Days Of Supply” |
| With much of the investment world focused on crypto currencies and blockchain, it’s no surprise that the fundamental building blocks of the physical world have been ignored for so long. The focus in recent years has been on mining digital assets, but in the real world mining companies that specialize in essential metals like silver and zinc have been warning of massive deficits that, as SGT Report notes in a recent interview with Callinex Mines CEO Max Porterfield, could easily lead to supply shMonday, January 22, 2018 |
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| Przemyslaw Radomski CFA - SunshineProfits |
| Game Changer |
| The last couple of days have been tumultuous and this is reflected by the headlines in the media. In an article on the website of The Guardian, we read:
Bitcoin has all the hallmarks of a classic speculative bubble and even after almost halving in value in a matter of weeks it still has further to fall, according to a leading team of economists.
As regulators in South Korea again signalled on Thursday that they were considering a ban on cryptocurrency exchanges, Capital Economics also dismissed Friday, January 19, 2018 |
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| Mish - Global Economic Analysis |
| North Vietnam: Bloody Nose Strategy vs Diplomacy |
| N. and S. Korea agree to meet to reduce tensions ahead of the Olympics. Meanwhile, the US debates a Bloody Nose strategyNorth and South Korea will meet on Tuesday in the demilitarized zone. The meeting is preparation for the Winter Olympics that begin next month. Five senior officials from each side will meet at the three-storey Peace House on the South Korean side of the Panmunjom truce village, with talks to begin at 10 a.m.
Reuters reports North, South Korea to Hold Talks as Winter Olympics Tuesday, January 9, 2018 |
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| Mark O'Byrne - gold.ie |
| World is $233 Trillion In Debt: UK Personal Debt At New Record |
| The World is $233 Trillion In Debt: It’s Time to Rebalance To Gold
– Record level global debt level hit $233 trillion in Q3 2017– World’s per capita debt now more than $30,000– UK personal debts climbed to the highest level since credit crunch, reaching more than £200bn– US consumer credit highest jump in 2 years by 8.8% in November to $3.83 trillion– BofE warn UK banks could incur £30bn of losses if interest rates and unemployment rise sharply
Graph updated September 2017.
Global debt levels Tuesday, January 9, 2018 |
|
 | Clive Maund |
| Oil Market Update |
| The paradoxical technical situation for oil that we highlighted in the last update has continued – and has gotten even more extreme. In that update we concluded that oil’s very bullish volume indicators pointed to its continuing to advance, despite COT and Hedgers charts and sentiment indicators showing extremes that would normally call for a reversal to the downside, and that is what has happened. The reason? – Iran – it looked like the United States and Israel, and possibly client state Saudi Thursday, January 4, 2018 |
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| Bullion Vault |
| Gold Price Records 8th Best Run Since 1968 as Stocks Jump into 2018, Mifid II Begins |
| GOLD PRICES extended their New Year 2018 rally against the Dollar in London on Wednesday morning, rising for the 10th time in 11 trading days.
In the last 50 years the Dollar price of
gold bullion has beaten such a run only 7 times before.
Touching $1321 per ounce in 'spot' trading, physical bullion fixed at $1314.60 in Wednesday's AM London Gold Price auction, the highest benchmarkWednesday, January 3, 2018 |
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 | James Howard Kunstler |
Forecast 2018 — What Could Go Wrong  |
| Markets
If you take your cues from Consensus Trance Central — the cable news networks, The New York Times, WashPost, and HuffPo — Trump is all that ails this foundering empire. Well, Trump and Russia, since the Golden Golem of Greatness is in league with Vladimir Putin to loot the world, or something like that.
Since I believe that the financial system is at the heart of today’s meta-question (What Could Go Wrong?), it would be perhaps more to the point to ask: what has held this matrix of rackeMonday, January 1, 2018 |
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 | Richard Mills - Ahead of the Herd |
| Imaginations of the Misguided |
| aheadoftheherd.com
The end of the world as we know it
It’s Christmas 2017 and North Korean Dear Leader Kim Jong-un is facing a crisis. Recently the United States, with UN approval, imposed the harshest round of economic sanctions yet on his reclusive regime.
While North Korea has been sanctioned since 2006 due to continuing attempts to develop nuclear weapons, this new provocation by its sworn nemesis is the last straw for Kim, who feels the great legacies of his father and grandfather, Kim Friday, December 29, 2017 |
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