One reader asked: “I once, several years ago, read that the US had already printed “redbacks”, a US dollar to be used internationally; that is, the greenback would be used in the US for domestic trade and the “redback” would be used for international trade and it would have a higher value. Do you have […]

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. […]

The support for gold in Feb is 1574. The resistance stands at 1667-1690. The support will begin to fade in March and the number to watch will become 1638. The primary support lies at the three Monthly Bearish Reversals. Once they give way, then we can see a real break.

In Italy, the majority of voters endorsed parties that had promised to reverse the financial sacrifices Italy had promised its European partners or at least temper them. This whole European austerity program will tear Europe apart and the Euro will not survive. The attenpt to create a single currency without a single debt was the […]

Stocks on Monday suffered their biggest drop since November after a strong showing in Italian elections by groups opposed to the country’s economic reforms. Of course the markets are just confused for anyone who really thinks that Europe’s debt problems have been solved must be smoking something. This is nothing. Then we have the September […]

Gold closed on Friday at 1574.8. The major support is highlighted by the Monthly Bearish Reversals at 15470, 15410, and 15320. This is the critical support and a monthly closing beneath these three reversals will confirm we should retest the 1160 area. A minor Monthly Bullish stands at 17580. The next two Weekly Bearish Reversals are […]

Portugal is in a massive deep recession with GDP growth coming in more than a negative 1%. Portugal has announced it may cut the corporation tax to boost growth and investment. They are starting to realize that the youth have no jobs. You keep raising taxes and people leave. More than the tax rate, I […]

In just four days, the package of automatic spending reductions that was devised to be so distasteful to both parties so it would never be allowed to occur will almost certainly be allowed now occur. Obama was counting on the Republican fears for reelection. But the job cuts are in government where it should be. […]

New York Mayor Michael Bloomberg is hell-bent on dictating to people what they can and cannot do. He has the guts to stand before an American flag and utter nonsense. He is banning large sugary drinks that takes effect on March 12th, 2013. This insanity demonstrates how bad things have become. The pizza deliverymen will […]

It is vital to understand that what we face is by no means the plain vanilla version of governments just printing into hyperinflation. These people are fighting back as is ALWAYS the case with core and major economies. The German hyperinflation took place AFTER a revolution with a unstable government that lacked credit. When there […]