Here’s an interesting quote from Henry Ford: “It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.” Do you know what he is referring to? I would guess that less than one in a
According to Steve Liesmen, investors face a bit of a dilemma in attempting to figure out the health of the economy. Do they believe the falling GDP numbers or the jobs numbers which are relatively steady in light of the GDP problems? The real problem is how to do you glean meaningful information from statistics
Something significant may have just occurred in the physical gold world. According to Zerohedge, the one month Gold Forward Offered Rate (GOFO) rate just went negative for the first time since 2008, and perhaps even more significantly, so did the three month rate. The last time both went negative was in 1999. In both cases
Grant Williams, author of the newsletter Things That Make You Go Hmm, recently presented at the 66th Annual CFA Conference in Singapore. The entire presentation is available above, but in this post we’re going to deal with less than ten minutes of his presentation. Although Mr. Williams addresses stock investors, his material should be of
Last week, Fed Chairman Ben Bernanke made a speech in Chicago where he warned that a long period of interest rates could lead to asset price bubbles or speculative lending ending in a new financial crash. Sadly, Bernanke is like a general fighting the last war. He’s worried about another banking crisis, fearful of another
The following is an excellent presentation by Christine Hughes of Otterwood Capital Management on the beginning of the end of the Japanese bond market and how it has negatively impacted gold in the short term. On April 4, 2013 the Bank of Japan announced their “2-2-2-2” policy in which they will attempt to create 2%
The entire purpose of modern economics is to obfuscate the truth; to convince the masses to support policies that are contrary to their own interests. In the early twentieth century, economists in the United States realized the opportunity to transform their lot in life from that of dreary academicians to well paid pseudo-celebrities by becoming
With gold and silver having suffered their biggest declines in their 12-year bull market, Bloomberg TV invited Ron Paul to comment. Watching the video, one can easily see that the interviewers thought that they could hammer Ron, a long-time and vocal advocate of gold, because of the price drops. They were wrong. The video is
Stanley Druckenmiller is the former manager of Duquesne Capital, one of the most successful hedge funds ever. He recently gave a rare interview with CNBC in which he spoke about entitlement reform and the implications of our unsustainable national debt. Washington DC has a serious spending problem. One that will eventually lead to a dollar
In this must watch video, British MEP Daniel Hannan addresses the Oxford Union as part of its debate on the Occupy Wall Street movement. The act of bailing out the banks with the taxpayer’s money, he says, will one day be viewed as a generational crime. The Occupy movement was correct in that something had