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This Is What Happens To Gold When Citizens Lose Faith In Fiat Currency
This Is What Happens To Gold When Citizens Lose Faith In Fiat Currency It appears, first slowly and now quickly, the world is realizing that Alan Greenspan was right after all: “Gold is a currency. It is still, by all evidence, a premier currency. No fiat currency, including the dollar, can match it.” As Nick Laird exposes, gold […]
The US Economy Has Not Recovered And Will Not Recover
The US Economy Has Not Recovered And Will Not Recover The US economy died when middle class jobs were offshored and when the financial system was deregulated. Jobs offshoring benefitted corporate executives and shareholders, because lower labor and compliance costs resulted in higher profits. These profits flowed through to shareholders in the form of capital […]
Betting on the Wall Street Crash
Betting on the Wall Street Crash Exclusive: The 2008 Wall Street crash resulted from a combination of unrestrained greed and political contempt for government regulators who might have prevented the devastation. In The Big Short, the tale is told from the perspective of a few players who saw the inevitable and made money on the crash, […]
Bob Janjuah Warns The Bubble Implosion Can’t Be “Fixed” This Time
Bob Janjuah Warns The Bubble Implosion Can’t Be “Fixed” This Time Having correctly foreseen in September that “China’s devaluations are not over yet” it appears Nomura’s infamous ‘bear’ Bob Janjuah has also nailed The Fed’s subsequent actions (hiking rates into a fundamentally weakening economy in a desperate bid to “convince markets that strong growth and inflation are on their […]
The Big Short is a Great Movie, But…
The Big Short is a Great Movie, But… Paris — Michael Lewis is the chronicler of Wall Street. He takes the complexity behind which the inhabitants of the financial world hide and weaves a tale that is both understandable and compelling. Starting with the classic “Liars Poker” (1989), Lewis has produced a number of books about […]
Is the US Heading for an Economic Bust
Is the US Heading for an Economic Bust On Wednesday December 16 2015 Federal Reserve Bank policy makers raised the federal funds rate target by 0.25% to 0.5% for the first time since December 2008. There is the possibility that the target could be lifted gradually to 1.25% by December next year. Fed policy makers have justified this […]
Weekly Commentary: Monetary Fiasco
Weekly Commentary: Monetary Fiasco All great monetary fiascos are forged upon a foundation of misperceptions and flawed premises. There’s always an underlying disturbance in money and Credit masked by supposed new understandings, technologies, capabilities and superior financial apparatus. During the nineties “New Paradigm” period, exciting new technologies and “globalization” were seen unleashing a productivity and […]
The Trouble With Financial Bubbles
The Trouble With Financial Bubbles Very soon after the magnitude of the 2008 financial crisis became clear, a lively debate began about whether central banks and regulators could – and should – have done more to head it off. The traditional view, notably shared by former US Federal Reserve Chairman Alan Greenspan, is that any […]
A Currency War That Few Economists and Analysts Notice, Much Less Understand
A Currency War That Few Economists and Analysts Notice, Much Less Understand “The enormous gap between what US leaders do in the world and what Americans think their leaders are doing is one of the great propaganda accomplishments of the dominant political mythology.” Michael Parenti Most economists and financial analysts think that ‘currency war’ merely […]
Riding ZIRP Into The Doom Loop—–Monetary Central Planning’s Dead End
Riding ZIRP Into The Doom Loop—–Monetary Central Planning’s Dead End What the Fed really decided Thursday was to ride the zero-bound right smack into the next recession. When that calamity happens not too many months from now, the 28-year experiment in monetary central planning inaugurated by a desperate Alan Greenspan after Black Monday in October 1987 will come to […]
An Almost Perfect Predictor of GDP Growth and Bernie Lays the Boots…
An Almost Perfect Predictor of GDP Growth and Bernie Lays the Boots… I recently watched a video clip of Bernie Sanders laying the boots to Alan Greenspan back in 2003, for Greenspan’s seemingly out of touch perspective of the average American. Now while we do have a repentant banker in Greenspan, a rare phenomenon for sure, I found […]
Greenspan Imagines Better, Alternate Universe in Which Greenspan Was Not Fed Chair
Greenspan Imagines Better, Alternate Universe in Which Greenspan Was Not Fed Chair Alan Greenspan, the policy failure whose tenure at the Federal Reserve helped create the conditions for the largest financial crisis in nearly a century, was inexplicably given a major newspaper platform on Monday to opine about regulation, which he ideologically abhors. So it […]
Fed Admits Economy Can’t Function Without Bubbles
Fed Admits Economy Can’t Function Without Bubbles In short, the dot-com bust was the last chance for the Fed to pivot and liberate the American economy from the corrosive financialization it had fostered. A determined policy of higher interest rates and renunciation of the Greenspan Put would have paved the way for a return to current […]
Gold and the Grave Dancers
Gold and the Grave Dancers The Asset They Love to Hate … Back in the 1960s, Alan Greenspan wrote a well-known essay that to this day is an essential read for anyone who wants to understand the present-day monetary and economic system (which is a kind of “fascism lite” type of statism, masquerading as capitalism) […]
