The push against protecting yourself from experimental money policy (and against cash) intensifies

We warned back in March that there is a War on Cash looming. Rogoff with his first book in a while is pushing for mostly cashless society because it improves state power over individuals right to privacy that might be used by criminals… And because it further enables central bank policy makers to loot from …

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Probabilities, not averages

Over the years, we are constantly trying to remind readers of the major blind-spots within the conventional buy-and-hold investment theory community.  One in particular is their indifference to market risk at all times regardless of circumstances.   Market timing, they say, is a fools game that simply does not play out with the law of averages. …

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The Coming War on Cash

FDR banned The People’s right to protect themselves from his and the Fed’s massive economic intervention policies in 1935 by declaring private ownership of gold illegal.  Prior to then, Gold had been considered the real, legal money backing all citizens’ “paper dollar notes”.  In other words, our real money (gold) was being stored safely on …

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The Heir to the Fed’s Errors

Jim Grant with the Daniela Cambone at KITCO last week. Particular gems are that he defines the present environment as the “Ph.D. Standard of monetary management”, which is a regime where tenured economics faculty have been given the reigns to set their know-it-all theories loose in the wild via the world’s monetary policy.   According to …

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Quote of the Day

“The political class has completely disrupted the American structure of production, made American workers uncompetitive, snuffed the life out of entrepreneurs, and burdened the entire nation with a debt obligation the size of Jupiter. The US economy is not the strongest and most durable in the world — it is an unskilled thirty-two-year-old waiter crashing …

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A collapse is baked into the cake

John Hussman can sound a bit like a broken record after a while, making reading each week a bit tiresome.  But that’s only because the insanity of markets and policies can remain… well, insane, a lot longer than you can remain solvent.  So, despite the repetition of message, most all he’s been warning us about …

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On some things, Keynes was right

A timely excerpt of Keynes from The Economic Consequences of the Peace, written in 1919. “Lenin is said to have declared that the best way to destroy the capitalist system was to debauch the currency.  By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their …

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Chickens Will Roost

Looks like the chickens are coming home to roost. The policy makers’ global War on their respective nation’s savings by looting it via monetary policy (money printing and credit from thin air), taxes, confiscatory low interest rate policy, etc. is the equivalent of raiding the seed corn and mixing it in with the harvest. Economic …

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Is China at the bottom? Probably Not.

From: A Cheaper Yuan Won’t Help China   “…What’s really driving downward pressure on the yuan are capital outflows as Chinese investors look to get their money out of the country into safer havens such as the U.S.; by some estimates, $1 trillion has left China since the middle of 2014. One can hardly blame …

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