Tuesday, December 6th, 2016 MST

Mises Phoenix Seminar Review

The seminar was as stimulating and informative as expected.  What surprised me was the humor with which most speakers delivered such important and grave messages.  The seminar also was as well-run as I expected. The talks can be downloaded from the Mises website. The links are provided below.  Further, CDs will be available at a

Inflation endangers more than your pocketbook

Many Americans are buying gold and silver as hedges against a feared decline in the value of the dollar.  Considering that the current fedgov fiscal year deficit is forecast at $1.75 trillion, buying the metals seems a prudent move as a devastating decline in the dollar is almost a certainty. But, too many Americans do

Moody’s warns on US credit rating; Standard & Poor’s warns B of A and Citibank.

A recent Financial Times noted that the proposed overhaul of US financial rules threatens the credit ratings of Bank of America and Citibank. Standard & Poor’s, one of the world’s top two credit rating agencies, says that as proposed, the rules would make it less likely that the banks would be bailed out by taxpayers if the bank ran into trouble again.

Zimbabwe defaults; US raises debt ceiling limit

In moves that should have surprised no one, last week Zimbabwe defaulted on debt repayments and the United States raised its debt ceiling limit to avoid defaulting. Zimbabwe owed Caledonia Mining a mere $3 million. Because the debt was in US dollars and could not be printed (at least not by the Zimbabwean central bank),

Rob McEwen sees $5,000 gold

Rob McEwen, who can almost be called a living legend in the gold mining industry, says gold prices may reach $5,000 an ounce – and as soon as 2012 but maybe not until 2014.  McEwen sees loss of faith in the dollar being the reason for gold’s coming rise. “Money supply has expanded so rapidly

Fed + Treasury = Inflation

A long-time client, and successful commodities trader I add, sent the below: The following comments come from a Merrill Lynch publication today. “To repeat our Mantra: 1) Whatever MUST happen, WILL happen. 2) In a debt crisis, inflation is the ONLY solution. 3) The FED + US Treasury can create inflation. 4) As such, there

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