U.S. Supreme Court IN RE SINKING FUND CASES, 99 U.S. 700 (1878) 99 U.S. 700 (L.Ed.) SINKING-FUND CASES. UNION PACIFIC RAILROAD COMPANY v. UNITED STATES. CENTRAL PACIFIC RAILROAD COMPANY v. GALLATIN. October Term, 1878 APPEAL from the Court of Claims. Appeal from the Circuit Court of the United States for the District of California. The […]

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. […]

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 […]

The ultimate price of Marxism is striking its deep blow into the very heart of Western Society. We are about to learn the VERY same lesson that both Russia and China had to learn. You cannot control society through its economy by dictating prosperity. President Karolos Papoulias of Greece has come out and made a very […]

Canadian sales of real estate has fallen sharply. According to the press,  Vancouver home owners would rather not sell at all than accept a discounted price. Of course, that is typical in any market. There is always the resistance to a price decline and insistence that they will hold until the market returns. Canada has […]

Obama is putting a huge effort to disarm Americans, yet he will not spend 1% of this effort to address the economy and honestly try to figure out what the hell is wrong. He is obsessed with always expanding the power of government. Remember how he stood before the nation and criticized Bush for GITMO? […]

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 […]

The head of US tire maker Titan International launched a blunt attack on French productivity. He told the government that some French workers “work only three hours a day” and his company would be “stupid” to consider taking over a factory in the country. The remarks of Titan’s CEO, Maurice Taylor, addressed in a letter […]

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 […]