May 5, 2012 – Back in 2009 when the Greek crisis was just starting to make headlines, I wrote an article concluding that sovereign debt defaults ...
March 21, 2012 – Earlier this week Federal Reserve chairman Ben Bernanke gave a lecture to students at George Washington University. It was the ...
November 23, 2011 – There are a number of common misconceptions about the gold confiscation foisted on the American people by President Franklin ...
July 11, 2011 - Discussions by policymakers to increase the US debt limit are in the eleventh hour. Sadly, so far the circus of intense ...
January 3, 2011 – It is that time of the year again to record my expectations and outlook for the year ahead. But before looking at 2011, ...
December 22, 2010 – I am pleased to announce the re-printing of Pieces of Eight: The Monetary Powers and Disabilities of the United States ...
November 17, 2010 – Iceland, Dubai, Greece – and now Ireland? Will the Emerald Isle be the next domino to fall as a consequence of ...
November 16, 2010 – Earlier this month the Federal Reserve announced its latest round of quantitative easing, long ago dubbed QE, but it should ...
July 10, 2010 – I need to correct an article I wrote last month stating that banks are lending again. Total bank loans have indeed grown ...
June 17, 2010 – Banks are lending again. After many months of sitting on their hands while trying to repair their over-leveraged balance ...
April 30, 2010 - Greece’s debt troubles are well known. Less recognized is the worrying truth that Greece is just the tip of the ...
April 12, 2010 – On August 16, 1999, I recounted how legendary traders Jim Fisk and Jay Gould had profited handsomely from a massive short ...
March 26, 2010 – Everyone should be taking note that the yield on the 10-year Treasury note this week climbed to a 9-month high. The ...
March 22, 2010 – Only a few decades ago, the United States was the world’s largest creditor nation. American capital spanned the ...
March 20, 2010 – There is a prevailing view held by American policymakers that debt and resurgent consumer spending will lift the country from ...
March 1, 2010 – As the financial crisis has unfolded over the last two years, the Federal Reserve has been responding in a variety of ...
February 26, 2010 – There have been numerous reports about the sharp decline in bank lending since the beginning of the financial crisis. ...
February 15, 2010 – As the debt crisis in Greece continued to unfold last week, the US dollar and US government debt instruments were being ...
January 9, 2010 – The total quantity of US dollars in circulation has declined over the past year. As of December 31, 2009, M3 is $14.193 ...
December 30, 2009 – The Federal Reserve needs more money to continue purchasing US government debt, the aggregate amount of which is soaring ...
December 19, 2009 – Socialism has come to mean many different things to many people, but regardless how it is defined, in the months immediately ...
November 29, 2009 – While the debate continues whether inflation or deflation will be the dollar’s eventual fate, the Federal Reserve is ...
November 9, 2009 – The Labor Department on Friday reported that headline unemployment in the United States has now climbed to 10.2%, a ...
August 26, 2009 - According to the National Bureau of Economic Research, the United States has been in an economic contraction since December ...
August 10, 2009 - I wrote the following 22 years ago this month. As the French say, Plus ça change, plus c'est la même chose! Nothing has changed ...
August 10, 2009 - Given all the euphoria after the unemployment number was released on Friday, one would think that the economic contraction had ...
July 13, 2009 - The chart below presenting total US employment over the past twenty years was prepared by the Economic Policy Institute. The ...
June 29, 2009 - I find the accompanying chart to be very interesting, and it is probably one of the most striking and informative charts on economic ...
June 25, 2009 - Yesterday the Federal Reserve completed the latest meeting of its Federal Open Market Committee. It re-affirmed its plan to ...
May 17, 2009 - Occasionally the stock market gives important clues about its future direction. One way a clue can appear is through a ...
January 26, 2009 - There is a determined grassroots movement in the United States seeking the restoration of sound money. There are many different ...
January 16, 2009 - An important document buried in the Federal Reserve's archives has been discovered by writer and researcher Elaine Supkis. This ...
Oct 27, 2008 - In an article published in The New York Times on October 16th, Warren Buffet tells us that he has "been buying American ...
September 22, 2008 - The term 'government money' has been bandied about a lot in recent weeks. It is being portrayed as a near miraculous elixir with ...
September 22, 2008 - In the last letter I commented on the bailout of Fannie Mae and Freddie Mac. My observation was: "This latest bailout of ...
August 25, 2008 - In the last letter I questioned whether the US government is solvent. All the available financial evidence as well as some simple ...
August 4, 2008 - In my article on January 7th, I analyzed the federal government's financial position using its consolidated financial statements, ...
May 12, 2008 - The Bush administration spin artists were out in force on May 8th. With the burst of activity that day, one can only assume that word ...
April 28, 2008 - In the last letter I quoted Murray Rothbard to help explain how the practice of keeping only fractional reserves - where a bank's ...
March 17, 2008 - The center of focus this past week on Wall Street - and indeed, much of the financial world - was whether or not Bear Stearns will ...
Jan 25, 2008 - Now that gold has climbed above the $850 high reached back in January 1980, many are proclaiming that gold is at a new 'record'. That's ...
January 7, 2008 - "We might hope to see the finances of the Union as clear and intelligible as a merchant's books, so that every member of ...
December 17, 2007 - One year ago in Letter No. 375 I provided my forecasts for 2007. It’s time to repeat that task. Hopefully my ...
Dec 12, 2007 - The Federal Reserve today announced a new scheme to inject more liquidity into the money markets. It cobbled together a partnership ...
December 3, 2007 - The outcome from the relentless inflation of a currency is all too predictable. Unfortunately, the inevitable future of currency ...
November 12, 2007 - Everyone knows that the dollar is losing purchasing power day after day because of inflation. Consequently, the practice of ...
September 3, 2007 - M3 has been resurrected, so I have my trusty roadmap back. We can once again closely track what is happening to the dollar by ...
July 30, 2007 - I recently wrote an article published on Kitco.com that made reference to a July 10th speech by Federal Reserve chairman Ben ...
June 25, 2007 - The terse Reuters announcement this past Friday contained only 101 words.
Brookstreet Securities Corp., an Irvine, California ...
May 28, 2007 - I am writing this newsletter one week earlier than planned because several markets are at critical points. In short, there is simply ...
May 14, 2007 - We have a battle on our hands. It';s the Battle for $700, and it is just the latest clash in a long war being fought between gold ...
April 30, 2007 - The US government claims that the Treasury Department owns and has in its possession 261.5 million ounces of gold, which is ...
March 26, 2007 - For several years there has been an ongoing effort in New Hampshire to re-establish sound money within the state. See for example ...
26 March, 2007 - It is a basic premise of today's fiat-currency-based monetary system that central bankers only tell you what they want you to hear. ...
Feb 23, 2007 - A subtle change is taking place in the gold market. In addition to all of the reasons people already have to buy physical metal, ...
January 29, 2007 - It seems clear to me that the US is following a monetary path that is leading to ever-growing rates of inflation that will over ...
December 18. 2006 - Treasury secretary Hank Paulson and Federal Reserve chairman Ben Bernanke (together with 59 underlings) trekked to China to meet ...
December 4, 2006 - This is the time of the year that I dust-off my crystal ball in order to look at the year ahead. I will share with you what I ...
Nov 27, 2006 - While America was celebrating Thanksgiving, the US dollar swooned. Major support was broken in the process, and the US Dollar Index ...
November 13, 2006 - In 1787 Russian general Grigori Potemkin constructed facades of buildings along the banks of the Dnieper River to fool Catherine ...
October 23, 2006 - The Dow Jones Industrial Average made a new record high this past week. It settled back somewhat on Friday, but still closed the ...
October 2, 2006 - Connolly to Baker to Paulson. It could be the names of three infielders in an around-the-horn triple play, but it's not. These ...
September 18, 2006 - In November 2005 the Federal Reserve announced that it would no longer compile and publicly report M3, which is the total ...
Sept 15, 2006 - "People of the same trade seldom meet together, even for merriment and diversion, but the conversation ends in a conspiracy ...
August 7, 2006 - In November 2005 the Federal Reserve announced that it would no longer compile and report M3, which is the total quantity of dollars ...
July 24, 2006 - Many thanks to Adrian Douglas for the accompanying chart of the price of gold plotted against the Dow Jones Industrials Average. ...
June 9, 2006 - Michael Hodges is the publisher of the Grandfather Economic Report. His very informative website http://mwhodges.home.att.net/ states ...
May 29, 2009 - I've received more than my usual share of emails over the past several weeks. Not all of them are a result of gold's climb to $700 and ...
May 8, 2006 - It was only two short months after Alan Greenspan was appointed chairman of the Federal Reserve that he faced his first crisis. The ...
March 28, 2006 - Each week the Federal Reserve reports various measures of the US dollar money supply. One of these, M3, is the total quantity of ...
March 27, 2006 - For more than twenty years the Fear Index has been a reliable and trustworthy guide. I invented it in the mid-1980s in order to show ...
March 15, 2006 - Anybody who has been lending money to the US federal government by buying T-Bills and its other debt instruments received a brutal ...
March 6, 2006 - Long-term US dollar interest rates rose again this past week, continuing the uptrend that began in mid-January. For example, the ...
February 27, 2006 - On February 22, 2006, a news report was published by Dow Jones Newswires based on a press release issued the same day by Barrick ...
January 9, 2006 - As we begin this new year, there is a lot to ponder over and worry about. High on this list is the imminent departure of ...
October 17, 2005 - For months formidable forces of inflation and other forms of monetary debasement have been gathering at a frightening pace. Rising ...
Sept 14, 2005 - I'm no fan of John Maynard Keynes. I find most of his economic theories to be just plain wrong. But for the sake of truth and ...
June 6, 2005 - Currency risk is a troublesome problem that everyone faces. It arises for a variety of different reasons, but more often than not, ...
May 16, 2005 - There are two principal monetary provisions in the American Constitution. Taken together they make clear ...
March 28, 2005 - Tim Wood is the founding editor of Resource Investor, (www.resourceinvestor.com) an online newsletter focusing on junior mining ...
August 30, 2004 - Next month central bankers from around the world will gather in Washington D.C. for another annual meeting of the Int'l Monetary ...
May 10, 2004 - Catching up on my reading last week, I was very much taken by comments made recently by Congressman Ron Paul of Texas. From his ...
December 22, 2003 - It is easy for economists - like generals - to fall into the trap of fighting the last war. The big monetary upheavals of the last ...
November 10, 2003 - "Predicting rain doesn't count - building an ark does." So says Warren Buffett.
Long-time readers of these letters know ...
October 27, 2003 - Because financial statements provide a snap-shot of a company's balance sheet for just one day, the opportunity exists for ...
August 25, 2003 - Debasement is a word often used to describe money, or more precisely, the decline in the value of a currency. According to ...
June 16, 2003 - The headline of the May 30, 2003 issue of The New York Times blared "U.S. Cautiously Begins to Seize Millions in Foreign ...
March 10, 2003 - The Dollar Index closed this past Friday at 98.04, a new 3-year low, 19% below its 2001 high. Even more importantly, its downward ...
February 10, 2003 - I will be the first to admit that the future cannot be predicted just because some line on an uptrend channel is broken on some ...
Januray 6, 2003 - I have today mailed the following letter to the Enforcement Division of the Securities & Exchange Commission. It's about time ...
October 28, 2002 - It has been several months (see Letter No. 301, March 18th, 2002, Asking for Help from My Congressman), but my Congressman has at ...
August 5, 2002 - There has been a flurry of letters from the Federal Reserve and the Treasury Department responding to various enquiries about the ...
July 15, 2002 - The slide in the stock market really picked up some momentum this past week. The Dow Jones Industrials Average dropped 7.4%. The ...
July 1, 2002 - Over the past several weeks, the stock market has taken a severe pasting. The Dow Jones Industrial Average has declined six weeks ...
May 20, 2002 - In the last letter I explained in graphic detail my oft-stated premise that a flight from the dollar is beginning. I contend therefore ...
April 29, 2002 - One of the most basic premises about which I have been writing for years is about to be tested. Will we get a flight from the dollar ...
April 1, 2002 - The long awaited ruling from Judge Lindsay has arrived. All claims against the Bank for International Settlements (BIS) and the other ...
February 11, 2002 - Argentina's debt default and economic bust has been moved out of the headlines by the collapse of Enron, as if one debacle was not ...
January 7, 2002 - A few weeks ago I received an interesting email from Andrew Hepburn. He is a diligent researcher who has done yeoman's work for ...
December 17, 2001 - The above title might be somewhat premature. Complete control may not yet have been lost, so instead, it is perhaps more accurate ...
October 21, 2001 - Bill Murphy, proprietor of www.lemetropolecafe.com and the founder of GATA (see www.GATA.org), is being inundated with email from ...
October 1, 2001 - September 11th began for me like most other business days. I had been in the office for almost an hour, catching up on what had ...
August 27.2001 - In the last two letters I have written about the earmarked gold stored in the vault of the Federal Reserve Bank of New York. Foreign ...
August 13, 2001 - Here's a mystery for you. It ranks high with any of the great thrillers solved by Sherlock Holmes, but this one is not fiction.
I ...
December 11, 2000 - The June 1972 break-in at the Democratic headquarters in the Watergate building in Washington, DC, seemed at the time suspicious ...
October 30, 2000 - Back on August 7th in Letter No. 268 I alerted readers to some of the accounting gimmicks being employed by both Cisco Systems and ...
June 5, 2000 - A couple of weeks ago when the Dow Industrials were threatening to break below 10,000 and the NASDAQ looked ready to collapse through ...
May 1, 2000 - I got a lot of response to my last letter, which reviewed my correspondence from the US Treasury and its Department of the Mint. I can't ...
April 10, 2000 - At last the Treasury Department has answered my inquiry from August about the auditing of the US Gold Reserves. I have just received ...
February 28, 2000 - I have received a lot of questions asking what I intend to do next to pursue the status of the Gold Reserves supposedly stored in ...
February 21, 2000 - At last I have received a reply from the US Treasury Department in response to my questions about auditing the US Gold Reserves ...
January 11, 2000 - My congressman got a reply from the Treasury Department, sort of. Here is what was sent to The Honorable John E. Sununu by Linda ...
January 10, 2000 - Central Banks Control the Gold Market? I offered in that report what I still believe to be an accurate and exhaustive analysis of ...
December 13, 1999 - In the 1970's a very courageous gentleman named Edward Durrell claimed that substantially all of the US Gold Reserve being stored ...
November 22, 1999 - "We assume that the currency which is in all our hands is fixed, and that the price of bullion moves; whereas in truth, it is ...
August 16, 1999 – In 1869, Jim Fisk and Jay Gould tried to corner the gold market, and for a time, this notorious duo succeeded. It is a ...
August 16, 1999 – If I’ve learned anything over the years, it is to not underestimate the power of central banks and their willingness to ...
July 27, 1998 - Beauty or beast? Either of these adjectives can apply when it comes to the stock market. At times the market is something wonderful to ...
June 15, 1998 - Mr. Miller was ousted, and Paul Volcker was rushed in to pick up the pieces. But the change came too late. The damage had already been ...
April 6, 1998 - Ever since the Dow Industrials Average made a new record high in early February, I have been warning that one should play the market ...
October 6, 1997 - It is a great pleasure to announce that the above referenced patent, which has just been published, has been awarded to me. I have ...
September 22, 1997 - In recent weeks as the Gold price slid to test support around $320, the bears have come out with newer and lower targets. Some ...
April 21, 1997 - A distinguishing feature of the twentieth century has been the emergence of the Nation-State, and most of these territorial entities ...
March 24, 1997 - Like bombs from the belly of a B-52, T-Bond prices are falling around the world. It is a phenomenon not confined just to the United ...
January 27, 1997 - It has become a tradition of mine at this time of the year to share some of my thoughts about the various markets, and to make some ...
October 21, 1996 - What will happen to the Gold price after the November election? Will it remain stuck below $400 per ounce, or can we finally expect ...
September 9, 1996 - Since May I have been warning that stocks may be topping out. Our attention was first focused on the NASDAQ, which took a nasty ...
April 25, 1994 - Over the past few years I have become acquainted with a wealthy, retired American industrialist who has an interesting story to tell. ...
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