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Category Archives: Economics
Golden insight
Gold is obviously in the midst of a bull market. Here is the Eric Janzszen from iTulip.com perspective. During the period from after WWII until the U.S. abandoned the international gold standard, food prices remained steady while personal incomes increased. Then, from the late 1970s and again since 2000, food prices increased faster than personal [...]
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IMF Gold Holdings
First, a little poetry from the Russian poet Alexander Pushkin, in 1826: “All is mine”, says gold; “All is mine”, says steel. “I buy all”, says gold; “I take all”, says steel. Now the changes in the IMF gold arsenal: The IMF has announced its gold reserves declined to 2,966.4 in April from 2,981.5 tonnes [...]
Satire & Europe
Clarke and Dawe boil down the European “crisis:” However, many European governments are successfully passing spending cuts, tax increases, and even talking of raising the retirement age in France. I wonder how long it takes for Iceland’s Comic Party to go international. REYKJAVIK—Voters here blew a loud raspberry at Iceland’s political establishment Saturday, handing victory [...]
NASDAQ Peak Revisited
Warning: It looks like stocks have reached a meaningful sell-off that will mark a new leg down. A few months ago, in anticipation of this event, I marked up historic charts of the NASDAQ performance. This is a great barometer of the stock market because this is the marginal demand of “stocks” at its finest. [...]
Crack Shack or Mansion?
This post is in honor of the Canadian property bubble – It may be hard to estimate what a million dollars will buy in Vancouver. The number of re-sale listings hit an all time record in March. Should only take a couple more months before things start to ease up a bit. Visit CrackShackorMansion.com to [...]
Ponzi Schemes
I still read Emirates Business 24/7 from time to time and this article a few weeks back caught my eye. Full letter from Sprott is embedded below. Sometimes the things directly in front of us are the hardest to see. Sprott December
Kyle Bass Interview
-Fannie and Freddie paid 200 million in campaign contributions to 350 politicians in the last 10 years -Total loses to Fannie and Freddie portfolios will sum to roughly 350-450 billion. -Taxpayer footing the bill, no losses in public markets and bondholders. -US government is more converned with protecting foreign investors than the taxpayers. -If government [...]
Analogy to explain Debt Deflation
The way society becomes wealthier is through productivety improvements. When we can do more for less, we have more resources (time and money) left over. We get richer. Let’s assume your village doesn’t have a truck, you take out a loan to buy one, and now you bring produce to market. This loan is a [...]
Economic Repression in Pictures