QUESTION: Mr Armstrong, I have been a fan since 1998 and want to understand the concept of phase transition. If the Dow in Euros continues in a bull market while the value of the Euro is falling, then with the capital flows from EU into the perceived safe haven of the Dow, the Dow in Dollars must therefore […]

  QUESTION: Mr. Armstrong; One of the criticisms of you is that you support the idea of a central bank. Your view that Andrew Jackson destroyed the central bank and caused a depression and sovereign debt defaults appears to be a different view than what is talked about in the gold community. Could you explain your […]

COMMENT: Like many, panicked out of market in October ’08, (lost on stocks value and currency) and did not get back in properly. Sovereign debt crises globally results in loss of confidence in own currency, but equal loss of confidence in other currencies. Although many talk about deflation, what we see is the constant rise in […]

QUESTION: Hi Marty, You truly are the gadfly that Plato described of Socrates who kept pestering Greek government till they executed him but who Socrates commented that you are only killing the government and society more than you are killing me!  You talk of the collapse of the American empire sometime in 2032 analogous to […]

The Financial Crisis of 1971 was the culmination of a series of events that began during the early 1960s. Politicians set the gold ratio to the dollar at $35 an ounce that was decided in 1934 by Franklin D. Roosevelt. However, politicians have a vest self-interest in always pretending they do a good job. Unfortunately, […]

During the early years of Washington’s Administration, Secretary of the Treasury, Alexander Hamilton, strive diligently to establish a sound system of banking in an effort to stabilize the currency of the nation. However, due to failure of Continental Currency and the lack of immediate convertibility into the proposed federal US dollar, speculation and volatility plagued […]

The Panic of 1893 was quite different from the US panics that had preceded. To a large extent, the Panic of 1893 came on the heels of American speculation in overseas investment which had kept up with the trend toward “global diversification” and opportunity much like that of the 1990s. The Panic of 1893 was […]

The Silver Democrats came to label this financial crisis the Crime of 1873. Of course, they understood nothing with respect to the global economy and merely assumed that the could do as they desired domestically without any regard to international trends of implications. Up until the year 1873, all the dollars in the world were […]

The prelude to the Panic of 1857 was indeed the building of tensions over slavery and states rights as they saw it in the South. Tensions began to build toward the Civil War with the passage of the Fugitive Slave Act of 1850 which said any escaped slaves, upon capture in the North, must be returned […]

The Federal Reserve began as a simple private sector clearing house/insurance fund, which is why the banks were the owners. Yes, the Fed was given the power to create money that was to be ELASTIC. They would create money during a bank panic to satisfy demand and then shrink it when depositors return to the […]