From Capitalism To Creditism

A good portion of reported economic growth over the last several decades can be attributed to a liquidity explosion reflected by enormous increases in debt. The graph of  the money supply since the removal of the gold constraint in 1971 looks like that proverbial hockey stick. The US Federal Reserve is the greatest source of this liquidity around the world, [...]

Milestones On A Death March

What if we were on a death march and didn’t know it? That is the condition for most death marches. Milestones on a death march are rarely noticed or considered important at the time. Mostly that is because the ultimate destination is not suspected by those involved. Did the Romans know what was happening to them? Were they aware of [...]

Civilizations Don’t Die of Old Age

A simple video explains what has happened and how it is no different from any other country/civilization that rises and falls. It focuses on money/gold and provides an historical as well as a causal explanation of why a major crash is inevitable. We can either die in the flames of inflation or freeze in deflation/depression. Both roads end in the [...]

QOTD — The Piper Will Be Paid

Received from Jim Sinclair’s JSMineset [email protected] via You have to be wit-less not to see that you are going to pay for the sins of the banksters. They got the blood covered profits. Now in the “Great Leveling,” in which you are solidly founded as a serf. The Great Leveling will come in two major waves. You are going [...]

Dollars For Gold

Which side of this fence would you prefer to be on?

Fiat Currency Going To Its Intrinsic Value

Those invested in gold or other precious metals were slaughtered in the last two trading days. Although the pain of their losses is likely not to be eased by the chart that follows, it does show the validity of gold as a long-term strategy. As Voltaire once said: “All fiat currency returns to its intrinsic value — zero!” This chart [...]

David Stockman Alienates Both Ends of The Political Spectrum

David Stockman wrote an intriguing article which appeared in the NY Times. That it appeared in the Times is noteworthy itself, for it contradicts so many liberal shibboleths the paper has supported (promoted) for many years. Its appearance is less likely to reflect the first steps to Damascus and may be a sign of financial desperation where the need for [...]

The Continuing Crisis

A list of issues that I found time to tweet about but not offer my commentary is included below. I consider most of these important to the continuing and worsening crisis. Gold To Benefit From Cyprus Fiasco, The Dollar and the Real Inflation Story Say Goodbye to the Purchasing Power of the Dollar Anatomy of the Bank Run – Murray [...]

Fallout From Cyprus

The threat in Cyprus has to scare anyone with visible, liquid assets. Depositors in banks should feel especially vulnerable. Look for these assets to shrink. Look for alternatives such as precious metals to benefit. Zerohedge provides an example of how Bitcoin has been affected: In Spain, The Bitcoin Run Has Started by Tyler Durden Something extreme is happening in Europe. Since [...]

The Dead Canary Is Having Its Weekend At Bernie’s

Recent action is gold has been disappointing and perplexing. Central banks print money furiously in order to enable their bankrupt sovereigns to survive. Yet, gold is plunging when one would have thought it should be soaring. The purpose for holding gold is to protect against currency moving toward its intrinsic value of zero. Yet just the opposite seems to be [...]

Currency Wars Heat Up

Mish has a column on currency wars and how each country wants its currency to weaken against other currencies. These objectives are obviously impossible and represent a road to ruin and inflation. Here is Mish's summary: What We Know The US wants a lower Dollar Eurozone ministers want a lower Euro Japan wants a lower Yen The UK wants a lower [...]