British politicians have just made the same stupid mistake as the American Democrats who created the S&L Crisis of the 1980s. In the U.S., they were greedy and changed the tax status on real estate to increase taxes. They created a one-way market of all sellers. British Conservatives have just done the same thing, sending […]

QUESTION: I understand austerity is self defeating and crippling, but is there any other way to constrain elected officials from driving into unsustainable public debt as they pander for votes and campaign support?………or must we just go through periodic sovereign debt bubbles? and i understand austerity protects the bondholders at the expense of the people [the […]

COMMENT: Couldn’t help myself – I must share this personal story with your team and the blog readers. After reading Martin for just about a year, I began educating my family to what lies ahead.  With that our oldest daughter had been living in Chicago until 2 weekends ago.  She decided some time back to […]

OK. Let’s try to explain Europe a different way. What if the USA adopted a policy that said NAFTA (North American Free Trade Agreement) should move from a trade union of Canada, Mexico, and USA, to a monetary union. Both Canada and Mexico abandon their currencies and adopt the dollar. Canada would find things go up in […]

QUESTION: Mr. Armstrong Who prints euro notes? Could Greece just flood the market is euro banknotes? Thanks you for your guidance PK REPLY: Legally, both the European Central Bank and the National Central Banks (NCBs) of the Eurozone countries have the right to issue the seven different euro banknotes. In practice, only the NCBs of the zone physically […]

Brussels has been dead wrong. The stupid idea that the euro will bring stability and peace, as it was sold from the outset, has migrated to European domination as if this were “Game of Thrones”. Those in power have misread history, almost at every possible level. The assumption that the D-marks’ strength was a good […]

The North Rhine-Westphalian Minister of Finance Norbert Walter-Borjans (SPD) has called for an upper limit for paying with cash amounting to €3000. The justification is to end crime and tax evasion. Germany is not introducing the €1000 limit as in France and Italy, but they are getting their foot in the door. Once you convince people to accept […]

In the USA, they can revoke your passport if you owe the government $50,000 or more. Russia seems to be adopting a similar tactic. More than six million Russians could be deterred from their vacation plans this summer as they may be restrained for having unpaid private debt. Anyone who owes more than 10,000 rubles […]

The obsession with austerity stems from Germany’s experience with hyperinflation. This is akin to the USA’s obsession with the deflation of the Great Depression. Both political groups and nations fail to understand the real causes of what they experienced so we end up with rising authoritarianism that will not end nicely. Austerity cannot continue when government continues […]

The IMF on Thursday issued its own analysis on the Greek economy. The new debt forecast numbers have been raised in recent months and while the IMF analysis is never on point (way too optimistic), this tends to make the new number even more shocking. The entire idea of lending more and more money and […]