ASIA: Japan’s economy, the world’s third largest, shrank less than initially estimated in the third quarter, bolstering a view that it is slowly recovering from COVID-19 doldrums even as large export markets show further signs of weakening. Separate data showed the economy had recorded its first current account deficit in eight years in October, reflecting […]

QUESTION #1: Once more I am asking: In practical terms, when a Panic Cycle appears, which are the factors that will help us to determine if the movement will be up or down please? Thank you for answering. SM QUESTION #2: Your Panic Cycle is remarkable and your forecast on Ukraine before 2014 warrants putting […]

ASIA: Uncertainty facing the global economy next year will exacerbate challenges at home for China, economists in Beijing say, while urging swift support to help counter external headwinds. As the risk of global recession looms, China should stay alert to turbulence in international markets and the potential of another financial crisis, said former vice-finance minister […]

ASIA:   Citigroup Inc said it will wind down its consumer banking business in China, a move which is expected to affect about 1,200 employees in the country. The exit will include products such as deposits, insurance, mortgages, investments, loans and cards, the lender said in a statement Thursday. The bank will also explore options […]

I am pleased to offer the last of a hoard of Julian II (360-363AD) silver siliqua discovered in England known as the Harptree Hoard of 1887. This is the emperor who most likely inspired Thomas Jefferson. This hoard was discovered in the village of East Harptree, located approximately 16 miles southwest of Bath. The hoard […]

ASIA:   The major Asian stock markets had a green day today: NIKKEI 225 increased 201.36 points or 0.72% to 28,156.21 Shanghai increased 0.20 points or 0.01% to 3,176.53 Hang Seng increased 77.25 points or 0.39% to 19,673.45 ASX 200 increased 48.00 points or 0.67% to 7,251.30 Kospi increased 26.85 points or 1.13% to 2,399.25 […]

Gary Gensler, the Chairman of the SEC and, of course, a former Goldman Sachs executive, has been exposed to keeping two separate calendars of meetings. This may sound shocking, but it is pretty standard in our nation’s capital. Remember Hillary also used a private server. A Freedom of Information Act request will typically seek the […]

Aurelian (270-275AD) was the great restorer. He is the one who built the wall that still surrounds Rome today. He constructed that due to the swarm of barbarian invasions. His coinage reflects the first monetary reform that provides the bounce coming out of the low on our chart. The workmanship is greatly improved, and the coins take on a generally uniform look. They are marked “XXI” or “KA” and this states that the coins, although are still bronze, now contain 1/20th part silver. This reflects the official acknowledgment of this chemical process to create silver plated bronze coins. Now there is no return to silver coinage, just a claim that a tiny portion of the coinage is now silver mixed in with the bronze.

Aurelian’s reform is clearly extensive. The increases both the size and the weight of the antoniniani as they now took on a more uniform appearance. Aurelian officially adopted the silver-plating process and increased the size and weight of the gold coins from 5.5 g to 6.5 g. He made no attempt however to reintroduce any silver coinage. Additionally, he made an extensive production of coins bearing his wife’s portrait Severina. These coins however are approximately 3 times as common as those of his wife.

Aurelian is assassinated because of his reforms. The internal bureaucrats, corrupt as we see they are today, plot against him to prevent him from cleaning the house so to speak. So, we see clear parallels – (1) Rome split because of the monetary crisis just as did the USSR, and (2) the bureaucrats were running the government (BACKROOM DICTATORSHIP). Because it was the bureaucrats who killed Aurelian rather than a general, we have a brief period of the Interregnum where the Senate issued two bronze coins without the image of an emperor.

These are the bronze coins with the silver wash generally missing which have been in circulation so the condition is VF/XF.

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ASIA:   The major Asian stock markets had a mixed day today: NIKKEI 225 increased 112.52 points or 0.40% to 27,954.85 Shanghai decreased 2.72 points or -0.09% to 3,176.33 Hang Seng increased 132.57 points or 0.68% to 19,596.20 Kospi decreased 0.62 points or -0.03% to 2,372.40 ASX 200 increased 22.50 points or 0.31% to 7,203.30 […]

Imagine if you could have bought a loaf of bread in 1932 for 7 cents. That 7 cents would be $3.09 today would be a gain of 4,414%. Of course, you could not even freeze it that long. That is also the problem with many who sell investments. Gold was $20.67 in 1932 so that […]