Dozens arrested as St. Louis protests turn violent. Multiple arrests in London tube bombing and Marseille acid attack on American tourists. US retail sales and industrial production disappoint but stocks hit record highs. North Korea launches another missile. Bitcoin, ethereum stable recover part of recent decline on China regulation threat. Gold and silver down from […]
Suddenly, “De-Dollarization” Is A Thing
For what seems like decades, other countries have been tiptoeing away from their dependence on the US dollar. China, Russia, and India have cut deals in which they agree to accept each others’ currencies for bi-lateral trade while Europe, obviously, designed the euro to be a reserve asset and international medium of exchange. These were […]
Top Ten Videos — September 14
Mike Maloney: “Bad things are going to happen but it could be the best thing that happens to you.” Bill King: Something is spooking the dollar “in a big way.” Gordon Long: It’s getting ugly below the surface.
Looks Like The COT Report Wins Again, As Gold And Silver Fall Sharply
Eventually physical demand for precious metals will swamp the games being played in the paper (i.e., futures contract) markets. So every time the commitment of traders report (COT), which tracks those paper games, turns bearish while gold and silver continue to rise, the precious metals community watches hopefully for signs that fundamentals are at long […]
Welcome To The Third World, Part 25: Losing Faith In College
One of the hallmarks of a successful society is the widespread belief that education is a key to success. For that to be true there have to be 1) enough jobs farther up the food chain to make four more years of studying worthwhile, and 2) schools that are good and cheap enough to make […]
The Empire Strikes Back – At Bitcoin
One of the uncertainties with cryptocurrencies has always been how governments would react once bitcoin and its kin got big enough to actually threaten the monopolies of national fiat currencies. That day seemed to be approaching as cryptocurrencies’ aggregate market cap blew through $100 billion and the pipeline of new bitcoin wannabes (initial coin offerings, […]
Lightening-Fast COT Reversal: Now Fairly Bearish For Gold And Silver
That didn’t take long at all. Just a few weeks after the Commitment of Traders (COT) Reports for gold and silver turned positive – setting off a nice rally in both metals’ prices – this indicator has flipped back to strongly negative. In gold especially, speculators (always wrong at big turning points) have loaded up […]
High-Profile Sectors Start To Roll Over
Long credit cycles like the current one always end with a crash. But first they deteriorate. The headline numbers remain positive while under the surface a growing list of sectors start to falter. It’s only when the latter reach a critical mass that market psychology turns dark. How far along is this process today? Pretty […]
Social Media Teaches Neo-Nazis — And Everyone Else — An Important Lesson
The white supremacists who descended on Charlottesville, VA last weekend seem to have forgotten why their grandpappies wore hoods on such occasions: If regular folks find out you’re crazy, they tend not to like you as much. Combine those exposed neo-Nazi faces with ubiquitous smart phones and the result is the mass-outing of hundreds of […]
Really Bad Ideas, Part 3: Government Debt Isn’t Actually Debt
The failure of fiat currency and fractional reserve banking to produce a government-managed utopia is generating very few mea culpas, but lots of rationalizations. Strangest of all these rationalizations might be the notion that government debt is not really a liability, but an asset. Where personal and business loans are bad if taken to excess, […]
Dumb – And Dumber — Money Keeps Pouring In
Someday, stock, bond and real estate valuations will matter again. And the mechanism by which this return to sanity is achieved will probably be the torrent of money now flowing in from people who, for various reasons, don’t care about (or understand) the prices they’re paying. Millennials, for instance, seem to have reached the “beginners’ […]
Ron Rosen: The Dollar And Equities Will Plunge Together – While Gold Spikes
The dollar has been falling lately, which isn’t what a lot of people expected with the Fed being the only major central bank that’s raising interest rates. Higher yields on dollar balances should, according to basic economics, have attracted foreign capital to Treasury paper, thus putting upward pressure on the dollar. Didn’t happen though. The […]
The Perfect Crash Indicator Is Flashing Red
What’s the last big toy you buy when things have been good for a really long time and you already have all the other toys? An RV, of course. A dubious thing to own if you already have a house, but when the good times seem likely to roll on forever, why the hell not? […]
If Politics Seem Messy Now, Just Wait
It’s already widely understood that the electronic voting machines used by a growing number of US states are easy to hack. But just how easy may not be clear. Consider this from today’s Wall Street Journal: Hacker Cracks Voting Machine in Less Than 2 Hours LAS VEGAS—A touch-screen voting machine used in a 2014 election […]
Ah, To Be A Fly On The Wall At The Next White House Staff Meeting
Just when you thought US politics couldn’t get any darker – what with the president openly musing about firing the attorney general who is investigating the president’s campaign – in comes new communications director Anthony Scaramucci, with a, ahem, unique critique of his new coworkers: Scaramucci calls Priebus a ‘paranoid schizophrenic’ (Fox News) – Anthony […]
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