Asia saw some very strong gains on rumors of renewed Chinese intervention with the Nikkei producing its strongest one-day rise since 2008 (1,343 points +7.7%). The Chinese markets reacted to the news rather late yesterday. Europe walked in to the jubilation and saw encouraging market gains in the morning session. By mid-afternoon, the U.S. market […]

COMMENT:  You said: “The wealth of a nation is the total productivity of its people. If I have gold and want you to fix my house, I give you the gold for your labor. Thus, your wealth is your labor, and the gold is merely a medium of exchange. So it does not matter whatever […]

Asia saw a mixed session where most markets were lower but talk of intervention in China saw a very healthy bounce in the last few minutes of trading (Nikkei -2.5% Shanghai and HSI both up around 3%). Europe started on a positive note and never looked back. Positive session for all major European Indices saw exchanges close 1%+. […]

QUESTION:  Mr Armstrong, interesting article today, the story of the store of value (at least long term) has always confused me. One can look at saving accounts also as an asset as it yields the interest payment and one relinquishes the access to the money. No difference to bonds. But your article causes some questions: […]

Angela Merkel and IMF chief Christine Lagarde can laugh it up as Europe burns down. The whole crisis stems from antiquated ideas that center on what money actually is. If you do not grasp what the true function which money actually provides within the economy, then you will be unable to get anything else right […]

The world’s top 5 miners lost $540 BILLION market value as the Age of Deflation grips all asset classes, helping to send cash running into the open arms of government borrowing. Market values of the top 5 miners have collapsed between 60% and 88% from the major high in 2011. After copper, coal has been […]

The press is cleverly twisting the Hillary e-mail scandal to her benefit by narrowing their focus on what qualifies as “secret” instead of the fact that she conducted all national security business from her private e-mail server to avoid getting subpoenaed. There is no question whatsoever from a legal perspective that what Hillary did was […]

There is no real difference between goldbugs and stockbugs. Both tend to view the world through rose-colored glasses with blinders. They forget that ALL markets go both up and down and this is quite normal. A true global hedge fund manager must look at all asset classes, not just stocks or commodities. They must also view the world of currencies. We […]

Asia produced a mixed session for equity markets today with all majors closing in the red. Not too much gossip as most players were digesting the ADP report, guessing China’s next move (with dealers still bidding on long-end Treasuries), and anticipating Friday Non-Frams. Europe saw a more positive note closing with small gains, but it was the U.S. market […]

  The FT ran a commentary entitled, “The case for retiring another ‘barbarous relic'” on paper money. Money has historically never been a store of value for money is on the opposite side of tangible assets. Even when gold was used as money during the 19th century, its discovery in California was highly inflationary. Rooms for rent in San […]