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 [...]

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 [...]

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 [...]

The World Is Changing And Ignoring This Reality Is Not Healthy

We are on the precipice of enormous financial and economic change. It is not change for the good, especially for the United States. Excesses and mis-allocated resources of several generations are about to be exposed as modern industrial nations sink deeper into the economic hole they have dug for themselves. The purging of these economic mistakes will be painful, could [...]

Ponzi Scheme Government

It is interesting to go back and look at thoughts and interpretations of events from the past. Sometimes it is embarrassing. This post from almost three years ago, seems rather accurate in light of subsequent developments. The Ponzi Scheme that government had become only continued, as expected. At that time three alternatives were reviewed with respect to how government would [...]

Common Sense Video — The Fed Has Just Screwed You

Peter Schiff expounds on last week’s Fed action of unlimited money printing. He puts Ben Bernanke’s desperation into perspective. His policy actions are not original and they are absurd based on what we have just gone through. ┬áThe economy will not improve, inflation will accelerate and the dollar will collapse. The best that Bernanke can hope for is another housing [...]

Quote of The Day

Doug Casey commenting on the past and the future: What we experienced in the 1930s was a deflationary depression where billions of dollars were wiped out with a stock market collapse, bond defaults, and bank failures. Inflationary money that was created since the formation of the Federal Reserve in 1913 was wiped out. Prices went down. This depression will be [...]

An Unrosy Outlook

Matt Gillotti provides his view of what lies ahead: As we have seen this week there has been much talk of gold heading toward $6,000, $7,200, $8,500, $9,600 and $10,000 plus. Make no mistake gold at these levels, whether it be in the near or distant future brings with it its own set of realities. For those of us who [...]