The Planetary Insanity of Eternal Economic Growth

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This is the fantasy: we can rebuild our entire global industrial society every generation or two forever. “Earthrise” is one of the most influential photographs ever published. Taken on the Apollo 8 mission in late December 1968 by astronaut Bill Anders, it captures Earth’s uniqueness, isolation and modest scale: a blue and white dot on a… Read More

Modern Monetary Theory, Centralized Control And Gold

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My friend and colleague, Chris Powell, Treasurer of GATA, wrote a compelling essay on Modern Monetary Theory. MMT has been in operation by the western Central Banks since Bretton Woods. The “QE” program that began in 2008 is the most recent and blatant implementation of MMT. This is a must-read if you are interesting in… Read More

The Three Ds of Doom: Debt, Default, Depression

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“Borrowing our way out of debt” generates the three Ds of Doom: debt leads to default which ushers in Depression. Let’s start by defining Economic Depression: a Depression is a Recession that isn’t fixed by conventional fiscal and monetary stimulus. In other words, when a recession drags on despite massive fiscal and monetary stimulus being thrown into… Read More

Could A Deutsche Bank Collapse Crash The Markets?

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“I don’t think it’s any coincidence that gold runs from $1285 to as high as $1445 around the time that all the news about Deutsche Bank started coming out” [the failure to merge with Commerzbank followed by the “good bank / bad bank” split announcement]. Deutsche Bank is being prevented from collapsing by the German… Read More

Jerome Powell Fails The Gold Standard Test

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“You’ve assigned us the job of two direct, real-economy objectives: maximum employment, stable prices. If you assigned us [to] stabilize the dollar price of gold, monetary policy could do that, but the other things would fluctuate and we wouldn’t care,” Powell said from Capitol Hill. “We wouldn’t care if unemployment went up or down. That… Read More

It Looks, Sounds And Smells Like A Gold Bull Market

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Gold tends to perform the best when the real rate of interest (interest rates minus the real inflation rate) is negative. For now, the Central Banks have been able to contain the movement of gold in order to prevent the price from doing what it should be doing when interest rates are negative. With that… Read More

What’s Left to Monetize?

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What’s left to monetize? It appears the answer is “very little.” Advertising has always monetized consumers’ time and attention, what we call engagement today. Newspapers and periodicals publish advertisements, radio/TV networks and stations air adverts, movie theaters run trailers/ads, billboards occupy our mental space while driving and websites and apps post adverts. The more media you consume, the more adverts… Read More

Following in Rome’s Footsteps: Moral Decay, Rising Inequality

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Here is the moral decay of America’s ruling elites boiled down to a single word. There are many reasons why Imperial Rome declined, but two primary causes that get relatively little attention are moral decay and soaring wealth inequality. The two are of course intimately connected: once the morals of the ruling Elites degrade, what’s mine is… Read More

Could a Cryptocurrency Become a Global Reserve Currency?

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Will bitcoin appear on this chart of global reserve currencies in the future? Could a non-state cryptocurrency like bitcoin become a global reserve currency? I first proposed the idea back in November 2013, long before bitcoin’s rise to $19,000, decline to $3,200, recent ascent to $13,000 and current retrace. The idea is intriguing on a number… Read More

Caitlin Long: Will Blockchain Free Us from Wall Street?

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Great interview, smart, very smart.  Pay attention to the FRAUD within mainstream investments and how her knowledge leads to her enthusiasm for Bitcoin.  My take?  The mainstream fraud is 10 times worse than even she mentions here.  It is in every layer of stocks, bonds, real estate, derivatives, even gold and silver “markets,” top to… Read More

Actual Home Sales Are Tanking – Here’s Proof

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The National Association of Realtors (NAR – existing home sales reports) and the Census Bureau (new home sales reports) report monthly sales on a “seasonally adjusted annualized rate” basis (SAAR). Notwithstanding the reliability – or lack thereof – of the “seasonal adjustments,” it would seem absurd to report monthly home sales on an annualized rate… Read More

The Hidden Cost of Losing Local Mom and Pop Businesses

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What cannot be replaced by corporate chains is neighborhood character and variety. There is much more to this article than first meets the eye: In a Tokyo neighborhood’s last sushi restaurant, a sense of loss “Eiraku is the last surviving sushi bar in this cluttered neighborhood of steep cobblestoned hills and cherry trees unseen on most… Read More

Remember This Friday The 13th – Americans Are More Optimistic About The Stock Market Than They Have Ever Been Before

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Happy days are here again for the U.S. economy – at least temporarily. On Friday, U.S. stocks hit another brand new record high. It seems like we are saying that almost every day lately, and most investors are absolutely thrilled by this seemingly endless surge. Global stocks are surging too – today world stocks hit a new record high for the 4th consecutive day in a row. But of course it isn’t just stock prices that are rising. As the week ended, pretty much everything was up, and we also got some good news about consumer sentiment. According to the new University of Michigan survey that was just released, U.S. consumers are the most optimistic about the economy that they have been since 2004…
The consumer sentiment index, a survey of consumers by The University of Michigan, rose to 101.1 in October, far ahead of the 95 economists polled by Reuters anticipated.
“Consumer sentiment surged in early October, reaching its highest level since the start of 2004,” Richard Curtin, chief econ..