Germany is recalling much of its gold. For many years, Germany stored its gold outside the country. The Federal Reserve was the largest custodian with London ranking second. Germany now sees the need to hold a large portion of its gold domestically so they are transferring gold from overseas back home. Is this something that [...]
Tag archives for Central Banks
The Non-Recovery In Advance of A Depression
For anyone who believes that there has been an economic recovery, go buy the Brooklyn Bridge. I’m sure there are thousands who would be willing to sell it to you. There will be no recovery until the economy crashes and rebuilds from the ashes. There is too much debt outstanding can never be repaid and [...]
Our Road To Serfdom
There may be better ways to explain our current decline, but this does it nicely. Read the following carefully. Then, if you are truly concerned, read Hayek’s little jewel itself: QOTD: “The current modus operandi by central banks and sovereign governments threatens to take us down Friedrich von Hayek’s “Road to Serfdom”. Published in 1944, [...]
Inflation-Deflation Redux
Gary North has an interesting article on the deflation vs. inflation issue. He believes that we will end up in a deflationary Depression, although provides consideration for the possibility of a hyperinflation. In the short and intermediate term, which one of these occurs is critical for investors. Readers know that I expect the inflationary fires rather [...]
Free-Riders And The Outlook For The US Economy
In the Weekly Standard, Irwin M. Stelzer provided his opinion on the range of likely economic outcomes which he characterized as “gloomy, gloomier, and gloomiest.” Optimists likely dismiss Mr. Stelzer’s taxonomy as overly pessimistic. Pessimists likely accept his alternatives. Some consider him optimistic. Of the three scenarios painted by Mr. Stelzer, the following comes closest [...]
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