1. You have been pretty consistent in your position that gold is yet another commodity with business cycles affecting it as much as corn or copper and therefore a gold standard would never work. But wouldn’t you agree that at the least a gold standard would serve as a speed bump on government’s constant expansion […]

French President François Hollande should get the Noble Prize for providing the script for How to Destroy and Economy for Dummies. He went on TV on Thursday now saying he would make companies pay a 75% tax rate on salaries over one million euros. He is repackaging his Marxist campaign promise that he would impose […]

Just as Russia called unprecedented military exercise to show force to Europe, the US did the same holding military exercises using B-2s capable of delivering nuclear bombs in South Korea intent upon showing force to North Korea, which in turn responded by putting everything on alert to attack USA mainland. http://www.bangkokpost.com/news/world/342948/n-korea-puts-rockets-on-standby-for-us-strike

Italian leader Pier Luigi Bersani said Wednesday that only a mentally ill person would want Italy’s top job. This is starting to reflect the deep political problems rising throughout Europe. http://www.japantimes.co.jp/news/2013/03/29/world/italian-pm-job-only-for-mentally-ill/#.UVT20b8RbzI

The European Commission knew what it was doing. It refused to bailout Cyprus because it would be seen as bailing out about $4 billion in Russian deposits. But it had to abandon its sworn policy that there would NEVER be any default in Europe. Guess that was like Bush’s “read my lips – no new […]

No matter what the news, the goldbugs find a way to constantly talk a market up detached from all reality. One reader wrote: “Now they way they’re spinning this is that the confiscation of deposits is all being done to encourage people to take their money out of banks and thus increase the velocity of […]

In the United States, Wall Street opened lower as the demand at an Italian debt auction came in much softer than expected. This is starting to spark concerns over the financial health of the euro zone among those who are beginning to grasp there is a problem with absolutely no solution and the bullshit mixed […]

George Warren (1874-1938) In 1932, George Warren had written, Wholesale Prices for 213 Years; 1720-1932. Effectively, this work was a forerunner to Monetary Theory by making observations that prices rose with the gold discoveries and declined when supplies of gold declined. This work was a simplistic monetary view of the world that Franklin Roosevelt could […]

Question: I just don’t see how intangible money with no backing of any sort can survive for any length of time. Response: Neither did the gold standard established by Bretton Woods in 1945. Nothing lasts forever and backing did not prevent the collapse of the gold standard. This idea that money has to be TANGIBLE is […]

Merkel said on TV: “On the one hand, the banks must take responsibility for themselves. That’s what we have always said. We don’t want taxpayers having to save banks but that banks save themselves.” It was the politicians who created the Euro when I warned them this would happen because you cannot have a single […]