The amount of propaganda against the Federal Reserve is incredible. What we must keep in mind is that its original design, which lasted for about one year, was brilliant. The classic banking model, borrowing from depositors on a demand basis and lending long-term making a profit on the spread in interest rates, such as […]

QUESTION: Hello Martin- Great work and I wish you the best. One question regarding your recent email alerts from your blog in regards to the “money out of thin air” discussion that was/is going on. What is your opinion on how G. Edward Griffen’s book, “The Creature From Jekyll Island”, relates to the discussion on […]

Greece’s debt is now cut to CCC in preparation for an eventual default. Brussels just cannot think out of the box. There will be no solution until the thinking paradigm is changed. I previously wrote: With the economy turning down, the pain threshold will rise. The lack of liquidity will be a huge problem if […]

A year ago, Thomas Piketty, 43, was the most sought after economist of his generation. With weighty arguments about capitalism’s increasingly unequal income distribution, the Frenchman achieved something similar to a rock star status. Nobel Prize winners were at his feet and praised his book, “The Capital in the 21st Century”, a scientific critique of […]

QUESTION: Mr. Armstrong; I read your essay on the 224 year cycle and the peak in the United States would occur April 22, 2013. That was the start of Obama’s Syrian invasion argument. I must say, I am blown away with the accuracy of your work. I read an article in the newspaper here that […]

QUESTION: Marty, thank you for explaining the banking problem. It is leverage but they cannot create money without a basic deposit. The way these people spin this you would think you just open a bank and create money by loans without any deposits at all. Why are these people so bent on destroying banks? This […]

For the first time since 2008, banks are rushing into government Treasuries (PUBLIC) holdings faster than corporate/consumer loans (PRIVATE). Bank portfolio holdings have been a key component in monitoring the shifts between PUBLIC and PRIVATE CONFIDENCE. These shifts from government securities to private holdings within bank portfolios is an important leading indicator of the rise […]

QUESTION: Marty, in your piece about banking are you suggesting that fractional banking is not the issue it is the shift from relationship banking to transactional that is causing the greatest damage? Thanks Bob ANSWER: Absolutely. The difference between a Dark Age and Capitalism is the very fact that banks exist. The Dark Age after […]

The New York Times July 12, 1998 A Great Big Bounce for Bucks & Bonds by Gretchen Morgenson Market Watch, Front Page Section Like a beach ball held under water and then released, the dollar popped up again last week. The dollar index, a measure of the value of the Unted States currency against 10 […]

The New York Times July 19, 1998 Leader Exits, but It May be too Soon to Invest in Japan by Joseph Kahn The day after Japanese Prime Minister Ryutaro Hashimoto resigned, adding politics to the left of Japan’s financial and economic woes, one of the country’s leading financial newspapers topped its front page with this […]