“Gold”

Funny thing about money. It is supposed to be a bedrock of stability but it feeds on illusions. So much monetary policy relies on trickery.  The elite know things that the unwashed masses do not. Such as money illusion. The success of devaluation rests on tricking the masses. But tell a central banker he or…
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There was a basic flaw in the Vollgeld “sovereign money” proposal rejected by the Swiss in a referendum last Sunday. An arrangement that gives the state or its agencies exclusive power to create money,  oversee bank accounts and direct lending to the economy  is hostile to capitalism. It cannot produce the assurance needed to allow the…
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If  economics is likened to a religion it is easy to see how it may be viewed as dangerous. It may blind its devotees to the claims of competing world-views. If  economists arrogantly claim that their special insight gives them the right to prescribe policy, it may provide spurious legitimacy for harmful actions. It may lead…
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When did the culture of ‘money mania’ start? When did people first set out to grab as much money as possible at whatever cost?  When did the momentum for credit creation —paper money calling for more money — become unstoppable? Let us contrast the past 30 years with the years 1880-1910. Under the classical gold…
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Henry Kissinger says that today’s international order was “founded upon conceptions that emerged from the British Isles, were carried by Europe around the world, and ultimately took deep root in North America” He adds that “American leadership in reinvigorating the contemporary order is imperative.” In a few words, Kissinger shows a depth of understanding and a…
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  “Yesterday’s vote speaks to the ongoing changes and challenges that are raised by globalization,” President Obama said yesterday in his first comment on the UK referendum. He is right. The “Out” vote should be viewed as part of the geo-political fallout of the financial crisis and the failure of governments and bodies such as…
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The vote for Brexit is about much more than the UK and Europe. It shows that new rules to guide the process of globalization are needed. The policies followed since the financial crisis have two major errors. First there is a failure to diagnose the true causes of the crisis. Second, governments have failed to…
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According to the World Gold Council, Mervyn King, former governor of the Bank of England, believes that in certain circumstances China’s assets in the US could be “annulled”. Mervyn King’s alarmist warning is  made in an interview, entitled “Present perilous, future imperfect” that appears in the June issue of Gold Investor,  a WGC publication.  After pointing…
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Gold investors are debating whether “the bottom is in” for gold – the dollar price is already 19% percent above its seven year low of  $1050 reached in December. Many gold experts remain bearish on the view that the dollar will stay strong against other currencies. And market analysts cling to the view that the…
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What to invest in? Investors are at their wits’ end. What should they do to protect their assets? Well, your choice of assets depends on what you think central banks will do – especially if the stock market rout goes on. Will they EITHER extend/revive QE, keep rates low and  print more money? OR will…
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