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Gold and Negative Interest Rates

Gold and Negative Interest Rates  The Inflation Illusion We hear more and more talk about the possibility of imposing negative interest rates in the US. In a recent article former Fed chairman Ben Bernanke asks what tools the Fed has left to support the economy and inter alia discusses the use of negative rates. We first have to […]

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Affairs of State

Affairs of State  Insulting Mr. Erdoğan Can Be Dangerous Most of our readers are probably aware by now that the German government finds itself in a rather awkward situation over its relations with Turkey’s government again – with which the EU has just struck a widely criticized and very expensive deal to help it stem the flood […]

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Russian Aggression Unmasked (Sort Of)

Russian Aggression Unmasked (Sort Of)  Provocative Fighter Jocks Back in 2014, a Russian jet made headlines when it passed several times close to the USS Donald Cook in the Black Sea. As CBS reported at the time: “A Pentagon spokesperson told CBS Radio that a Russian SU-24 fighter jet made several low altitude, close passes in […]

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Cultural Marxism and the Birth of Modern Thought-Crime

Cultural Marxism and the Birth of Modern Thought-Crime  What the Establishment Wants, the Establishment Gets If a person has no philosophical thoughts, certain questions will never cross his mind. As a young man, there were many issues and ideas that never concerned me as they do today. There is one question, however, which has intrigued […]

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Why All Central Planning Is Doomed to Fail

Why All Central Planning Is Doomed to Fail  Positivist Delusions [ed. note: this article was originally published on March 5 2013 – Bill Bonner was on his way to his ranch in Argentina, so here is a classic from the archives]  We’re still thinking about how so many smart people came to believe things that […]

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State of Fear – Corruption in High Places

State of Fear – Corruption in High Places  Mr. X and his Mysterious Benefactors As the Australian Broadcasting Corporation (ABC) reports, a money-laundering alarm was triggered at AmBank in Malaysia, a bank part-owned by one of Australia’s “big four” banks, ANZ. What had triggered the alarm? Money had poured into the personal account of one of […]

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A Fatal Flaw in the System

A Fatal Flaw in the System  The Hard Rocks of Real Life BALTIMORE – The Dow dropped 174 points on Thursday, the biggest fall in six weeks. Not the end of the world. Maybe not even the end of this year’s bounce-back bull run. As you’ll recall, stocks sold off at the beginning of the […]

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The Precious Metals Conspiracy

The Precious Metals Conspiracy  Tricky and Dangerous Assumptions For at least a few weeks now, we have noticed a growing drumbeat from a growing corps of analysts. Gold is going to thousands of dollars. And silver is going to outperform. Reasons given are myriad. Goldman Sachs apparently said to short gold, so if one assumes […]

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Gold – The Best Defense Strategy

Gold – The Best Defense Strategy  The War on Cash is on! If you are used to making visits to your bank to make your credit card payments, you may find this no longer an option in the future. Some banks are no longer accepting (or limiting their acceptance) of cash deposits. The war on […]

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Going Into Debt to Invest Into Debt…

Going Into Debt to Invest Into Debt…  Bankers Hate It When You Hold Cash In an extraordinary turn of events, last week we were contacted by our local bankers. Since we were turned down for a mortgage in 1982 (our business finances were thought to be “too shaky”), we have had little truck with them. We pay […]

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Rotten to the Core

Rotten to the Core  Poison Money BALTIMORE – We live in a world of sin and sorrow, infected by a fraudulent democracy, Facebook, and a corrupt money system. Wheezing, weak, and weary from the exertion of trying to appear “normal,” the economy staggers on. Staggering on….     Image credit: David Sidmond Last week, we gained […]

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The Path to the Final Crisis

The Path to the Final Crisis  Reader Questions on Negative Interest Rates Our reader L from Mumbai has mailed us a number of questions about the negative interest rate regime and its possible consequences. Since these questions are probably of general interest, we have decided to reply to them in this post. The NIRP club […]

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The Other Problem with Debt No One is Talking About

The Other Problem with Debt No One is Talking About  Faux Growth Recovery Nearly 7 years have elapsed since the official end of the Great Recession.  By now it’s painfully obvious the rising tide of economic recovery has failed to lift all boats.  In fact, many boats bottomed out on the rocks in early 2009 […]

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The Pitfalls of Currency Manipulation – A History of Interventionist Failure

The Pitfalls of Currency Manipulation – A History of Interventionist Failure  The G-20 and Policy Coordination Readers may recall that the last G20 pow-wow (see “The Gasbag Gabfest” for details) featured an uncharacteristic lack of grandiose announcements, a fact we welcomed with great relief. The previously announced “900 plans” which were supposedly going to create […]

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Who’s Anti-American?

Who’s Anti-American?  Maryland! The Old Line bugle, fife, and drum, Maryland! She is not dead, nor deaf, nor dumb. Huzza! She spurns the Northern scum! She breathes! She burns! She’ll come! She’ll come! Maryland! My Maryland! – Maryland’s State Song J’accuse…     Illustration by James Montgomery Flagg Guilty as Charged BALTIMORE – Yesterday, one dear reader […]

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Olduvai IV: Courage
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Olduvai II: Exodus
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