New revelations that the company who enabled the NSA to spy on the internet, which is really preparation for the coming age of asset confiscation and tax enforcement, is none other than AT&T. This is why we do not use any of their services. The New York Times reported that companies who do not protect their clients […]

I received a lot of emails after announcing that I would be in India this coming week. Here I am, updating from Mumbai, which was Bombay up until 1995. Mumbai is the 9th largest city in the world and home of the most expensive house in the world, located right here in the heart town. Mumbai […]

Well if you ever needed PROOF that gold is not money, but rather simply an asset class, all you need to do is look at what governments are doing. They are hunting for anything of value. We are likely going to see a migration of assets from Europe to the USA, as took place prior and during World War […]

It has taken a while but today we saw the return of the sellers in the oil market. TWI and Brent both down around 1.7%, taking TWI to 48.25 last trade. Natural gas also took a beating, down almost 3% at 2.825. Gold did try to bounce and spent the majority of the day above 1100, but as […]

Asian equities did not stand much of a chance from the open as Apple had taken it on the chin upon releasing their results! A 7% decline in after hours trading wiped around $66Bln off the share price and put Asian markets on the defensive from the start. By lunchtime, the Nikkei, the Hang Seng, […]

Most precious metals traders breathed a sigh of relief this morning when they awoke to see that gold was not massacred in Asia (again) and was almost unchanged from the New York close. That said, we did not see a bounce-back after yesterday’s $40 decline of any significance, which will leave traders weary of further declines. […]

As long as there are people who still believe that the gold market is uniquely manipulated, rather than simply in sync with the world economy, then the sad truth remains that we have not yet seen the bottom of the slide in gold prices just yet. Gold’s weakness led to a brutal sell-off among the […]

What actually constitutes the Long Depression has been debatable, for at first it was called the Great Depression, and then that title was transferred to the 1930s. Consequently, some limit the term Long Depression to the worldwide price recession beginning in 1873 and running through the spring of 1879. Six years is not exactly a “long” depression, that in […]

When the Great Depression began, over 8,000 commercial banks belonged to the Federal Reserve System, but nearly 16,000 did not. There were still state banks that were not members. Those non-member banks operated in an environment similar to what existed before the Federal Reserve was first, established back in 1914. People criticize the Federal Reserve […]

Herbert Hoover’s memoirs (1951) documents the fact that Franklin D. Roosevelt (FDR) played a very dirty game of politics. There were rumors that FDR would confiscate gold. These rumors spread and people ran to banks to withdraw their funds. The night before the election in 1932, FDR denied that he would do such a thing. […]