Sunday All the power of fiat currencies devolve from Gold. If Gold’s stability of value had never been transformed, via coinage and bars, into a known weight and fineness – i.e., money – then we would still be trading by barter and living in primitive farming communities alongside rivers. Fiat is a deceit based on an ignorance of what money really is. Fiat money, and … [Read more...]
Between Here and There
Thursday Chart from Monetary Metals I am regularly asked whether Gold is going to go up, down or sideways. For two decades, my answer has been the same. It is going nowhere. That is not just pedantry, unless one phrases the question correctly, one can have no expectation of a correct answer. It is the currencies whose values are measured by Gold … [Read more...]
Gold 2020
Tuesday Gold isn’t going up, down, sideways, consolidating or correcting. It isn’t firm and it isn’t weak or being ‘driven’ or manipulated. It is neither in a bull nor a bear market. Gold is motionless, going nowhere; in the same stable position as the measure of value that it has been for the last 3,500 years. 99.9% of Gold commentary plays into the hands of … [Read more...]
Beyond Reparations
Thursday by Theodore Dalrymple Read it all HERE "Open societies have this great disadvantage: that they force you to look at your own part in your situation. Unless you are a rip-roaring success, which very few of us are (and those few are often not very attractive as people), you are forced to confront your own ineptitude, lack of talent, bad choices from an early … [Read more...]
Eight Hours Sleep
Thursday About three months ago, with the doors of my restaurant shuttered by government edict and, accordingly, unable to pay rent, I was given three days to get out by the landlord. It was a grim time. It was hard to swallow that an iconic business with a thirty-six year track record of making money had suddenly, unexpectedly and inexplicably, moved into … [Read more...]