The United States is being seen as just hopelessly corrupt and the next downturn in the economy is not merely going to come down on those in Congress always willing to write blank checks to bailout the bankers when Genius Fails as it always does in New York when it is really just bribing and […]

President Obama has been the most aggressive in going after “leaks” that reveal how government lies to the people on one subject or another. His efforts to protect the government are disgraceful and if government was honest, well there wouldn’t be leaks. http://www.washingtonpost.com/local/a-rare-peek-into-a-justice-department-leak-probe/2013/05/19/0bc473de-be5e-11e2-97d4-a479289a31f9_story_1.html https://knightcenter.utexas.edu/blog/00-13889-obama-administration-has-aggressively-prosecuted-leaks-and-whistleblowers-who-are-they But the real issue that is a disgrace has been the […]

The Brains trust became a term applied to the so-called group of advisers to Franklin Roosevelt during his presidential administration. Roosevelt’s speechwriter and legal counsel Samuel Irving Rosenman (1896–1973) suggested having an academic team to advise Roosevelt in March 1932. This was really for show, for being such a member is rarely ever taken seriously by the politicians […]

The people preaching the nonsense about gold far too often have a self-interest. That is no different than expecting trading with a New York Bank that they have your best interest at heart. Come on. Look at the Press Reviews of Greg Smith’s book. You will see numerous reviews defending Goldman Sachs. Right! What Smith wrote about […]

QUESTION:    I’m a reader from China and one of the big fans of you in our country. I want to ask you a question and would be very happy to get your reply. If my memories are correct, you have been a bull of China and praised Chinese leaders for their competence. But in reality, […]

Germany is drawing a bright line between proprietary trading in banks and customer deposits. They are not merely separating the two, but they imposed criminal sentences for directors of banks and insurance companies if they fail to fulfill their supervisory duties in risk management or contravene an array of banking supervision. Germany will at least prosecute […]

This latest scandal that the Justice Department in fact secretly collected two months of telephone records for reporters and editors at the Associated Press, illustrates that there is just no rule of law. Attorney General Eric Holder has to recuse himself because he is part of the act.   People forget, but Holder was in […]

We are in one of the most complex conundrums in financial history. On the one hand we have vast amounts of cash that creates tremendous liquidity with interest rates at virtually zero, G7 finance ministers at least alarmed about the high level of liquidity yet it is becoming obvious even to them that monetary policy can not […]

QUESTION: What about the gold inventory decline. Is this not significant? ANSWER: No. The inventory at COMEX has always been volatile. Inventories rise and fall without any leading indicator to price. Supplies will shift also between London and New York. Inventories dropped sharply after 1980 as well. Manipulators often play with the inventories of all […]

A number of readers have asked doesn’t gold survive a Mad Max event? Historically, the answer to that is no. Dark Ages seem to be the total collapse of all economic activity on a collective basis. This is why there are huge gaps in the monetary history in Greece, Western Europe after the fall of […]