Gold has jumped back above $1200 as short positions were building up by hedge funds with no follow through just yet. The pop is on the idea that the Fed will be raising rates slower than feared. This is the typical brain-dead analysis, for anyone who bother to simply do a correlation of interest rates […]

There is the old saying “Beware of Greeks bearing gifts” refers to the story of the Trojan Horse. Yet in Eastern Europe, because of the defaults of the Byzantine Empire onward, the long-standing saying was that someone was “Bankrupt like Greece.” The two countries who are serial defaulters in Europe are France and Spain. The Spanish […]

Under Construction Glossary of Money Terminology Historical Outline The Origins of Money Primitive Period Evolution of Banking Birth of Coinage 700-550 BC 550-450BC 450-350BC 350-250BC Great Empires Greece (Mint Marks of Alexander the Great) Egypt Carthage Judaea Roman Empire Republic Imperial Rome By Emperor (Roman Mint Marks) Empires of the East Byzantium India Persia Syria […]

John Boehner, Mr. Ultimate Establishment Republican, is desperately trying to secure the passage of Trade Promotion Authority (TPA) for Obama, which would give him fast-track authority to secure congressional approval of at least three secretive trade deals without the public having a right to know what the hell is going on. Why is Boehner so willing […]

In the latest scandal where five major banks agreed to plead guilty to criminal charges brought by the U.S. Department of Justice for manipulating the foreign exchange rates of the U.S. dollar and euro, only the corporations were changed ­– not the bankers – be they traders or executives. The banks were Citicorp, JPMorgan Chase, […]

The turmoil in the European bond market has demonstrated that the theory interest rates will not rise and are in control of central banks is dead wrong. Despite the ECB’s policy to buy in government debt to inject cash into the markets, one would think that the bonds would have a firm floor of support. The […]

In response to questions from a major U.S. city and the debt crisis, I will not mention the names for this is sensitive and highly political. I have decided to address the question, which I would normally do privately, only because a lot of municipal governments are in trouble in many countries. The same problems […]

The conference to tax money was held on May 18, 2015, in London at the Mandarin Oriental Hyde Park in Knightsbridge. I can only assume that the lack press coverage was deliberate, and intended to avoid sending panic to the people, which would lead to a massive bank run if people understood what these guys are […]

The New York banks have been my adversary, to say the least. Alan Cohen, the court receiver put in charge of running Princeton Economics, was simultaneously on the board of directors of Goldman Sachs. When the SEC said the contempt should end, Cohen lied to the court to keep the contempt going, without even receiving […]

  I have warned for some time that government was eyeing up pensions. There is about $19.4 trillion dollars in private pension funds. How will they justify taking over these funds to the people? This is the question debated in secrecy behind the curtain. I have warned that if government seizes pension funds, it will come […]