August 7, 2012 – Money should always be separated from politics. Germany learned this lesson the hard way, and the Allies wanted to make sure ...
May 23, 2012 – The Grexit, or Greece’s exit from the euro, is becoming more likely, judging by how frequently it is mentioned these ...
May 11, 2012 – Congressman Ron Paul says that “central bankers are intellectually bankrupt”. This is actually the title of an ...
March 21, 2012 – Earlier this week Federal Reserve chairman Ben Bernanke gave a lecture to students at George Washington University. It was the ...
September 19, 2011 – The Swiss National Bank finally gave up. For months it tried standing alone against all of the bad monetary policies ...
June 14, 2011 - The solvency of the European Central Bank is being called into question by some brilliant in-depth research from ...
March 28, 2011 – I am not a mathematician, but those knowledgeable about math have explained to me the difference between a parabola and a ...
February 3, 2011 – An article today in The Wall Street Journal highlights the latest rise in the price of wheat. Blaming bad weather, it ...
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 ...
September 20, 2010 – There is too much money being printed. No rocket science is needed to reach that conclusion. The markets are giving ...
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 14, 2010 – The stock market is often acclaimed for its forecasting ability. Stock prices peak long before the downturn in economic ...
June 3, 2010 – Icelanders voted in a referendum to address their debt problem. Germans have a problem too, but they are voting with their ...
May 5, 2010 – Much has been made over the gold purportedly owned and controlled by the IMF. There are many unanswered questions about this ...
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 1, 2010 – The shorts in gold – and particularly the shorts in silver – felt some pain today. Gold climbed $11.80 to ...
February 26, 2010 – There have been numerous reports about the sharp decline in bank lending since the beginning of the financial crisis. ...
February 12, 2010 – “There are rules, and these rules need to be adhered to." This quote could easily have been made by Sir ...
January 2, 2010 – It is time to record my outlook for 2010, but before looking forward to the year ahead, I always like to first look back at ...
December 30, 2009 – The Federal Reserve needs more money to continue purchasing US government debt, the aggregate amount of which is soaring ...
November 29, 2009 – While the debate continues whether inflation or deflation will be the dollar’s eventual fate, the Federal Reserve is ...
October 28, 2009 - It wasn’t too many decades ago that the dollar was, as the saying went, “as good as gold”. It was a truism, ...
September 18, 2009 - Certain segments of the media rarely give gold a fair shake, particularly when it approaches important price levels. These ...
June 8, 2009 - I've lost count of how many trillions of dollars have been created 'out of thin' air by the Federal Reserve to bail out the banks. But ...
November 24, 2009 - I last wrote about Citibank eight months ago in an article entitled "Will Citibank Survive?" That article is still ...
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 ...
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 ...
April 7, 2008 - "Crises are endemic to financial systems." So says The Economist in an April 3rd editorial about the present credit ...
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 ...
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 ...
August 20, 2007 - "A banker is the person who lends you his umbrella when the sun is shining and wants it back the minute it rains."
We ...
Aug 10, 2007 - A new but inevitable twist has emerged in the escalating subprime woes. Bank solvency is now being called into question.
As a ...
July 9, 2007 - Counterparty risk is often ignored and misunderstood. But it can only be ignored at one's peril, particularly now that the subprime ...
June 25, 2007 - The terse Reuters announcement this past Friday contained only 101 words.
Brookstreet Securities Corp., an Irvine, California ...
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. ...
November 13, 2006 - In 1787 Russian general Grigori Potemkin constructed facades of buildings along the banks of the Dnieper River to fool Catherine ...
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 ...
December 19, 2005 - I wrote my last commentary when gold was $503, having just broken above the $500 level the day before to make a new 22-year high. ...
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, ...
March 28, 2005 - Tim Wood is the founding editor of Resource Investor, (www.resourceinvestor.com) an online newsletter focusing on junior mining ...
February 21, 2005 - The International Monetary Fund supposedly owns about 3,200 tonnes of gold. I say 'supposedly' purposefully, because like the ...
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 ...
March 15, 2004 - On March 8th the European Central Bank and 14 of Europe's national central banks made the following announcement - ...
January 19, 2004 - Germany's Bundesbank is making waves in the gold market again. And this time it received some help from perennially bearish ...
April 21, 2003 - One of the statistics complied by the International Monetary Fund is the quantity of gold owned by the world's central banks. That ...
February 24, 2003 - I highly recommend that you read an excellent article in the current issue of Insight magazine. Investigative journalist Kelly ...
November 18, 2002 - Long time readers of these letters know that I am not shy about making my views known. In other words, when it comes to markets, I ...
October 14, 2002 - One of my favorite writers is Lew Rockwell, who not only is the proprietor of the eponymous www.lewrockwell.com, but also president ...
February 20, 2002 - In just a few weeks the Bank of England will conclude the bi-monthly gold sales that it began in 1999. I've been thinking a lot ...
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 ...
March 27, 2000 - In an article entitled "Managing Markets" published in Letter No. 203 on April 21, 1997, I began to voice my growing ...
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 ...
May 17, 1999 - For months it has been my contention that central banks are manipulating the Gold price. More proof came on May 7th.
The British ...
April 12, 1999 - If you could borrow Dollars at 1% and invest them in another asset (e.g. T-Bills) yielding 4%, would you do it? Of course you would ...
February 8, 1999 - Several months ago I put forward a very simple proposition. In Letter #233 ("Grist for the Conspiracy Theorists", October ...
January 11, 1999 - One of the biggest issues facing the Gold market over the past couple of years has been the weight of Gold sitting in European ...
December 21, 1998 - We live in crazy times. Who would have thought that Sadam Hussein would outlast another US president? Or that Bill Clinton, a ...
October 26, 1998 - Most people readily accept the notion that governments throughout the world do not want the Gold price to rise. The reason for this ...
October 5, 1998 - Long-Term Capital Management was supposed to have been run by some of the best minds on Wall Street. Its management boasted that two ...
May 18, 1998 - A full contingent of European finance ministers and central bankers met on May 2nd to take additional steps toward the creation of the ...
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 ...
March 23, 1998 - This week the Belgian central bank released a statement that read in part: "The weekly situation...was influenced by an ...
February 16, 1998 - I think it was Helmut Kohl who compared the political process to sausage making - by advising facetiously that in politics like ...
January 12, 1998 - The Great Depression had ended before I was born, but this traumatic collapse that unhinged the world economy in the 1930's has had ...
November 24, 1997 - Two op-ed articles about Gold appeared last week in two of London's leading newspapers. The timing is not surprising. Given the ...
November 10, 1997 - On October 24th a committee of government bureaucrats from the Swiss finance ministry and the Swiss National Bank shocked the Gold ...
April 21, 1997 - A distinguishing feature of the twentieth century has been the emergence of the Nation-State, and most of these territorial entities ...
November 4, 1996 - In the last letter I noted the possibility of "one last upward spike in T-Bond prices to provide the markets with one last ...
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