The high on gold on the AM London Fixing was $850 back in 1980. However, when we index this to the government CPI adjusting it for inflation, the 1980 high corresponds to a price of $2,305.18 in 2011 dollars. This is a far more important number than all the nonsense of fiat and hyperinflation. Gold […]

Well, the hate mail has started regarding gold and as usual, I get all the arrows. Sorry, but gold is still a market. It rises and falls according to supply and demand and right now the market is overbought. When I was given a institutional conference in Tokyo, an individual bribed his way in. He […]

  The computer is short 4 positions. The major support lies at 15795 on a weekly closing basis. Only if that gives way will we break through the bottom of this channel. Gold remain vulnerable since 2012 was 13 years up on a closing basis. Given the pervasive amount of bullishness convinced that the dollar […]

Much of the stories on the web about silver and gold tend to reflect the official prices rather than the free market prices. There is ALWAYS a free market even during periods of fixed exchange rates. During Bretton Woods, there was currency trading in Hong Kong where the yen fell to nearly 500 to the […]

We the People of the United States, in Order to form a more perfect Union, establish Justice, insure domestic Tranquility, provide for the common defence, promote the general Welfare, and secure the Blessings of Liberty to ourselves and our Posterity, do ordain and establish this Constitution for the United States of America.   Article. I. […]

The numbers for Japan in December would imply on the surface that capital inflows took place rather than outflows yet the yen declined. There are serious problems with the way  governments track capital/trade flows. They do not actually monitor anything but cash movement. This is a throw back to the fixed exchange era when if […]

Just after the Pope announced his resignation, Saint Peters at the Vatican was struck by lightening a few minutes past 6PM. This is now being herald as proof that the last Pope will arrive according to St Malachy’s forecasts. I remember when there was the assassination attempt on the last Pope. The markets went dead […]

Heinrich Schliemann (1822 – 1890) was a German businessman and the real man who pioneered of field archaeology. He believed in the historical accuracy of Homer’s Iliad and Virgil’s Aeneid and that they told stories that reflected actual historical events. Of course, all the academics pronounced Homer’s writing was a story for children. Schliemann was […]

Lawyers outside the USA handling Americans who live outside the country, amounting to 33% of the population of Canada, are reporting massive lines to resign their citizenship. One Swiss married to an American woman for 20 years, took their son to the local bank at age 14 to open his first account. They rejected him […]

Traveling around the world and meeting with governments revealed a very interesting development. Because of my confrontation with New York, everyone felt at ease to speak frankly. They all confirmed that the view of NYC is on par with some third world dictatorship. Speaking with fund managers produced similar results. After MF Global, they concur, […]