Blog

March 23, 2009 – The other day at lunch with a friend, we began talking about my Fear Index. He suggested that I give it a new name in order to more accurately convey the important message it offers. Namely, it numerically measures the soundness of the dollar. Others have made similar suggestions for aRead more

March 23, 2009 – The page-1 article in the last letter was “On the Cusp of Hyperinflation”.  If you doubted that the dollar was headed for hyperinflation after reading the last letter, all doubts should have been dispelled after the Fed’s announcement on Wednesday that it would buy $1.2 trillion of government bonds and agencyRead more

March 2, 2009 – It was only two years ago in early 2007 that subprime lenders and homebuilders began suffering under growing defaults as a consequence of a housing market ‘bubble’ that had popped. The global credit crisis had begun. Complicated financial structures thought safe began to unravel quickly after word spread that two highlyRead more

Feb 23, 2009 – I am often asked whether I favor gold or silver as my preferred sound money.  It is a difficult question, and perhaps comparable to asking a parent which child is his or her favorite.  As we parents know, they are all wonderful, but perhaps in different ways because no two childrenRead more

January 26, 2009 – There is a determined grassroots movement in the United States seeking the restoration of sound money. There are many different groups comprising this movement, but all share the same aim. It is to restore gold and silver to its rightful role as the money of the United States, as mandated byRead more

January 16, 2009 – An important document buried in the Federal Reserve’s archives has been discovered by writer and researcher Elaine Supkis. This document is posted on her blog you can view it by clicking here. The document, which is marked “Confidential”, is from the papers of William McChesney Martin, Jr., and this collection isRead more

January 12, 2009 – I don’t like to start any new year on a gloomy note. I am by nature an optimist, but I am also a realist who readily faces facts. Right now those facts are not very pretty and suggest to me that the world has entered into another Great Depression. Here areRead more

December 22, 2008 – This letter is the last one for this year, so it’s time to look ahead to 2009.  It’s shaping up to be an ugly year for financial institutions and the economy, but a good one I expect for the precious metals.  But before I look ahead, I would first like toRead more

December 12, 2008 – Over the last few weeks, there have been a lot of articles on the Internet about backwardation, i.e., when the price of commodities for delivery today is higher than the price of commodities for delivery in the future. Like nearly all the things on the Internet, most of what was writtenRead more

November 24, 2008 – Gold remains in a bull market, but has been in a correction since making a new record high above $1020 in March. Gold’s $50 surge this past Friday put it once again at $800, but more importantly, is a strong indication that gold’s correction is ending. Therefore, there is no betterRead more