We’ve all heard for a long time about a coming collapse of confidence in the dollar and its displacement as the world’s leading reserve currency. I even wrote a book about that in 2014 called The Death of Money. Events are definitely moving in that direction, but I also make the point that the process does not
I have provided numerous links to articles warning of the coming of a cashless society. Beginning in the late 1960s the U.S. abolished the $500 bill (which featured President William McKinley). As recently as 2016, Europe abolished the 500 euro note. India abolished its two most popular forms of paper money, also in 2016. Australia
In 1956, the Communist dictator of China, Mao Zedong, launched what was called the Hundred Flowers Campaign. This was a response to dissent from intellectuals and artists in China who felt marginalized by the rigors of Communist rule and doctrinaire ideology beginning with the takeover of China by the Communists in 1949. Mao gave the
Months ago I advanced the thesis that the third great bull market in gold of my lifetime began in December 2015. That was when gold fell to $1,050 per ounce, down 50% from the August 2011 high of $1,900 per ounce (using the $250/oz. price of 1999 as a baseline). The first bull market was
The U.S. Should Be Reaching out to Russia — Not Risking War
It’s impossible to read the headlines or view a financial news channel without hearing about the debt crisis. We hear that the U.S. is facing a debt crisis because budget deficits are out of control. We hear that China is facing a debt crisis because of wasted infrastructure investment, bank ponzi schemes and bad loans
It’s difficult to get economists to agree on anything, but this article is a rare instance of five prominent economists in total agreement. Unfortunately the issue they agree on is that the U.S. is going broke. This article is an op-ed published in the Washington Post and written by Michael Boskin, John Cochrane, John Cogan,
Most investors are familiar with the fact that President Franklin Roosevelt closed all of the banks in America and confiscated all of the privately-owned gold by executive order in the early days of his administration, which began in 1933. Presidents since then have seized assets from countries such as Iran, Syria, North Korea and Cuba
