Friday This article was in the Financial Review a few days ago. I was asked to comment. Going straight past Jim Rickards’ falling interest rates are the solution bit (no they're not, they're the problem), his prediction for the fiat price of gold is an estimation based on a false premise. There will be a long continuance of price deflation before we hit … [Read more...]
Gold, Silver and Venezuela
Monday Why do you need to hold Gold and/or silver? Ask someone living in the socialist paradise of Venezuela. For 1oz Gold they can buy a house (2oz for a really nice house). For 1oz silver they can buy 3 to 4 months’ worth of food. The narrator sniggers as he imagines how many houses he and his fellow ‘stackers’ will be able to buy when the economy of their … [Read more...]
Banging of the Drums
Sunday The banging of the drums announcing a rising ‘price of Gold’ are beginning again. Mighty Gold warriors are beating back the manipulators of the ‘price of Gold’. The high priests of hyperinflation, embarrassed and subdued by reality for so many years, are re-emerging from the shadows to join in the cacophony. These defenders of the true faith exhort you to invest in … [Read more...]
The Sage of Szombathely
Sunday For almost seventeen years the world has lived with the threat of the imminent collapse of the paper debt notes system. It has been a fascinating period in humanity’s history. I spent part of the time in the US and part in Europe, just observing the process in the primary spheres of western civilisation. Sure, there have been debt collapses before, with the … [Read more...]