The Libor Fixing Scandal of interest rates has shown precisely what I wrote about in Behind The curtain. I have personally witnessed the trading mentality of the commodities trader from the ’70s consume Wall Street when it began with the PhiBro takeover of the bond trading house Solomon Brothers – the mentor of so much […]

The Gold backwardation has been distorted as all sorts of reasons for everything. Normally, this is the market condition wherein the price of a forward or futures contract is trading below the expected spot price at contract maturity. Consequently, the resulting futures or forward curve is “inverted” whereby it is negative because gold is trading […]

Understanding correlations is important. EVERYTHING fluctuates! There is absolutely nothing that remains constant. You MUST understand that correlations are NOT one for one, and often show changes in advance of turns. It is a lot to keep track of but this is why I try to post a global view to help you see the […]

I was one of the three largest wholesale gold dealers going into 1980. I wrote the law making gold not taxable for the State of New Jersey stating it would not be taxed unless “converted to use” only to have the bureaucrats change that saying it was taxable because it was an “investment use” and […]

A reader wrote: “Martin’s latest post says real estate will rise, but a chart posted a week ago predicts dire things for real estate after 2015.  Which is it? Can you ask him please!” Real Estate is the most difficult to talk about because it is so diverse lacking a single market. My post saying […]

Shakespeare’s Polonius offered this classic advice to his son: “neither a borrower nor a lender be.” Ben Franklin commented on the subject of debt saying: “Rather go to bed supperless than rise in debt.” The politics of debt has always ruined the state. The celebrated British economist John Maynard Keynes said it like this: “If I […]

Throughout history there has been countless two-tier monetary systems where at times there have been a local currency issued by the immediate government, yet the people rely upon the currency of another government. Such periods are interesting for they are not official but emerge by the people rather than through a decree of a government. […]

If anyone doubts we are in a serious Sovereign Debt Crisis, then explain why even the Credit Agencies are cutting the credit ratings of sovereign nations. There was France, and now there is the UK. Moody’s cuts the UK Credit Rating to Aa1 from Aaa, citing weakness in the nation’s medium-term growth outlook that it now […]

“I think you’re a positive influence to many more then you think, and I know they hope you stay the course.  A lot of my friends read your work and appreciate it.  There’s always going to be haters, and who knows why and who can explain them??  I’ve observed my life that some people simply […]

The chaos in gold is typical. Already, the hate mail has begun. “Stop the Bullshit” one said because demand in Shanghai is at record highs.It takes far more than one country to make a bull market. Others just blame me for the decline because they just listen to those who always say buy. The New […]