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You Think the Global Economy Is Brightening? Beware: The Big Hit Is Yet to Come
You Think the Global Economy Is Brightening? Beware: The Big Hit Is Yet to Come Relief is spreading among economic analysts and stock market experts. Energy prices are decreasing noticeably. The energy supply this winter seems secure; in Europe, government support for consumers and producers is available if needed. China is turning away from its […]
Why We Need a Free Market in Money
WHY WE NEED A FREE MARKET IN MONEY What is fiat money and what does it do? This is essential to understand since today’s worldwide unbacked paper, or “fiat,” money regime is an economically and socially destructive scheme—with far-reaching and seriously harmful consequences. There is an answer, though, and this lies in ending the money production monopoly of […]
Inflation as a Tool of the Radical Left
Inflation as a Tool of the Radical Left “Lenin is said to have declared that the best way to destroy the Capitalist System was to debauch its currency….Lenin was certainly right. There is no subtler, no surer way of overturning the existing basis of society than to debauch the currency. The process engages all the […]
The Era of Boom and Bust Isn’t Over
The Era of Boom and Bust Isn’t Over At the 2020 World Economic Forum in Davos, Bob Prince, co-chief investment officer at Bridgewater Associates, attracted attention when he suggested in a news interview that the boom and bust cycle as we have come to know it in the last decades may have ended. This viewpoint […]
The Wealth Redistribution Scam that Is “Inflation”
The Wealth Redistribution Scam that Is “Inflation” The world over people are told that central banks pursue “price stability” by making sure that consumer goods prices do not rise by more than 2 percent per annum. This is, of course, a big sham. If the prices of goods rise over time, it does not take […]
All Is Not Well In Financial Markets
All Is Not Well In Financial Markets It seems to be a hard time for those expressing concern about the build-up of risks in the economic and financial system: the major economies in the world are expanding at a decent clip, credit default concerns are very low, and stock and housing prices keep going up, […]
Deutsche Bank’s Troubles Raise Worries About the Future of the Euro Zone
DEUTSCHE BANK’S TROUBLES RAISE WORRIES ABOUT THE FUTURE OF THE EURO ZONE The euro banking sector is huge: In April 2018, its total balance sheet amounted to 30.9 trillion euro, accounting for 268 per cent of gross domestic product (GDP) in the euro area. Unfortunately, however, many euro banks are in lousy shape. They suffer […]
Gold Should be Viewed as Money — Not as an Investment Instrument
Gold Should be Viewed as Money — Not as an Investment Instrument On May 4 and 5, 2018, Warren E. Buffett (born 1930) and Charles T. Munger (born 1924), both already legends during their lifetime, held the annual shareholders’ meeting of Berkshire Hathaway Inc. Approximately 42,000 visitors gathered in Omaha, Nebraska, to attend the star […]
How High Is The Risk of a Currency Crisis?
How High Is The Risk of a Currency Crisis? “The reports of my death are greatly exaggerated”, quipped Mark Twain in response to a newspaper report that said he was on his deathbed. The same could be said about many fiat currencies. Whether we are looking at the US dollar, the euro, the Japanese yen […]
How Central Banks Stoke Stock Prices
HOW CENTRAL BANKS STOKE STOCK PRICES Reading through Security Analysis, the roadmap for investing first published in 1934 by Benjamin Graham and David L. Dodd, I learned something quite interesting: The basis of stock valuation had changed quite drastically in the period between 1927 and 1929. The stock buying public “departed more and more from the factual […]
Central Banks Put a Safety Net Under Financial Markets
Central Banks Put a Safety Net Under Financial Markets Most early business cycle indicators suggest that the global economy is pretty much roaring ahead. Production and employment are rising. Firms keep investing and show decent profits. International trade is expanding. Credit is easy to obtain. Stock prices keep moving up to ever higher levels. All […]
The Fed’s Great Unwind: Will It Sink Us?
THE FED’S GREAT UNWIND: WILL IT SINK US? In the eyes of many people, the Federal Reserve (Fed) is an indispensable institution. We are told it supports growth and employment, fends off the negative shocks, and fights inflation. Nothing could be farther from the truth. The Fed’s fiat money regime is economically and socially highly […]
Are markets Really as Calm as They Seem?
ARE MARKETS REALLY AS CALM AS THEY SEEM? Indicators for financial market “stress” have reached their lowest levels in decades. For instance, stock market volatility has never been this low since the early 1990s. Credit spreads have been shrinking, and prices for credit default swaps have fallen to pre-crisis levels. In fact, investors are no […]
Central Banks Are Hiding the True Price of Risk
Central Banks Are Hiding the True Price of Risk If you invest your money, you will have to deal with numerous risks. For instance, if you buy a bond, you run the risk of the borrower defaulting or being repaid with debased money. As a stock investor, you face the risk that the company’s business […]
Cash Banned, Freedom Gone
Cash Banned, Freedom Gone Some politicians want to ban cash, arguing that cash is helping criminals. The first steps in that direction are the withdrawal of big denomination notes and the limits imposed on cash payments. Proponents of a ban on cash claim that this will help fight criminal transactions — involved in money laundering, terrorism, and […]
