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“How did you go bankrupt?” Bill asked. “Two ways,” Mike said. “Gradually and then suddenly.” Ernest Hemingway, The Sun Also Rises, 1926. The financial position of the federal government of the United States has been gradually deteriorating for decades. It is now rushing headlong to the financial tipping point that will cause it to default onRead more

In 1922 Benito Mussolini became prime minister of Italy, putting that country on a path that had global ramifications. He was the world’s first fascist leader. Other fascists soon followed with fanciful promises that were varied but tuned in to what people wanted to hear. Their problems would be solved, whether the restoration of order,Read more

Some interesting data on housing prices in the United Kingdom(1) was recently published by Savills, one of the world’s leading property agents. The important messages that can be drawn from this data apply globally, namely, that fiat currency has a clear and direct impact on prices that can lead to a variety of misconceptions aboutRead more

The German version of The Epoch Times newspaper published an interview by Roman Baudzus with James Turk on April 8, 2022, which was also posted online and can be read at this link. With their permission to publish the English version, the interview follows: RB: I would like to start our conversation with a lookRead more

Silver continues to underperform gold, but I believe that is about to change. It may happen as soon as this week after the Federal Reserve announces its half-hearted effort to control inflation by raising interest rates only .25% or .50%. Based on last Friday’s closing prices, it took 76 ounces of silver to equal theRead more

It was not long after the internet began appealing to a wide audience with the adoption of browsers in the late 1990s that virtual currency appeared in online gaming. The potential of virtual currency opened a world of new possibilities, and entrepreneurs acted. Capitalism creates new products to replace those when they fail to provideRead more

Several people have asked why I wrote Money and Liberty: In the Pursuit of Happiness & The Theory of Natural Money while others requested some insight about its content. My objective was to explain why: gold is money and not an ‘investment’, which is not well understood these days, even among many in the goldRead more

In an article last year entitled “Bankruptcy 1995 Revisited”, I presented a detailed analysis of the US government’s financial position. It wasn’t a pretty picture then, and it looks even worse now. When you take away the political posturing, promises and rhetoric surrounding the US government’s financial position, all the cold, hard facts boil downRead more

In 1992 a book entitled “Bankruptcy 1995: The Coming Collapse of America and How to Stop It” hit the nation by storm. Written by Harry Figgie, a prominent businessman who had built a Fortune 500 company, and Gerald Swanson, an economics professor with expertise in public finance, it forecast that the US federal government wouldRead more

Every bull market for each type of financial instrument has three phases: accumulation of an undervalued asset by so-called “smart money” that recognizes the undervaluation, growing public participation as the uptrend gains increasing attention, and inevitable speculation that leads to overvaluation of an asset and eventual resumption of a new downtrend.   Gold is nowRead more