Global Market Commentary, Analysis and Investments
Gold down another $5 on Friday. Are you tempted to get out of gold now…and get back in, after the dip bottoms out?
Forget it.
The advantage of investing family money rather than personal money is that you have time on your side. You can sit tight and let the big trends make you big money… If you can get them right.
[Read more...]Left alone, good people tend to do good things. And, when unobstructed by coercion, force, violence or any other tool employed by the state in order to foster and maintain a more “responsible,â€� “socially consciousâ€� citizenship, most people tend toward being good people…all on their very own.
[Read more...]Let’s have some fun with numbers.
According to the official figures, the national debt currently stands at $14.01 trillion dollars. That’s more than $45,000 per citizen, or almost $127,000 per taxpaying American. If you add in debt held by households, state and local governments and financial institutions, that number (the total US debt) blows out to well over $55.5 trillion, or more than $680,000 per average family. How much in savings does the average family have to offset this amount? $7,918.
[Read more...]We just saw an estimate telling us that by the end of Obama’s term the US will be spending a third of its tax revenues just to service its debt. Not at Japanese levels yet! But getting there. And after Japan bondholders go “over the cliff� maybe lenders won’t be so ready to follow the US over the edge too.
[Read more...]“…with all the thought and good intentions that we provided…we achieved absolutely nothing. Nothing that I did and very little that old Ben [Strong, head of the US Federal Reserve] did…produced any good effect…or any effect at all. Except that we collected a lot of money from a lot of poor devils and gave it over to the four winds.â€�
[Read more...]The New Year invites guesses about the year ahead. I thought I wouldn’t bother this year, but then I found myself scribbling out some investment resolutions and predictions on a napkin over breakfast. Here are some of them:
1. Ignore the “gold is in a bubble crowd.� The mainstream press doesn’t understand gold. They look at the price and think it’s expensive. Instead, they should turn it around and question the value of the dollar. Gold is best thought of as a play on the creditworthiness of paper money. When people worry about the printing presses, gold does well. As most governments have huge deficits to finance, gold shouldn’t collapse.
[Read more...]We begin today’s reckoning with a trivia question: how many möngös are there in a tugrik?
If you guessed 100, congratulations! If you didn’t know, don’t worry. The Mongolians probably don’t care either way. The tugrik, their national currency, may not be much discussed outside the world’s strangest-sounding capital city, Ulaanbaatar, but it was still the world’s best performing currency of 2010. Well, the best paper currency, anyway.
[Read more...]The supply of paper currencies is infinite; the supply of gold is finite. This striking contrast provides an excellent reason to exchange the former for the latter.
The gold supply is limited…very limited. According to one estimate, all the above-ground gold in the world totals between 120,000 and 140,000 metric tons. Let’s split the difference and call it 130,000 metric tons (about 4.2 billion troy ounces). If you brought it all together and made it into a gigantic cube, it would measure about 19 meters along each side – about three meters short of the length of a tennis court.
[Read more...]Yesterday, we promised to give you a “Prediction-Plusâ€� about the stock market. You remember what a “Prediction-Plusâ€� is, don’t you? It’s better than a prediction. It’s what you should believe…even if it turns out to be wrong.
What should you believe about bonds? They’re going down. They’re a “suicidal� investment, says our old friend, Marc Faber.
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How Central Bankers Will Save Us from Rising Food Prices
En garde, Fellow Reckoner! We’re under attack!
Jean-Claude Trichet, head of the European Central Bank, has sounded the alarm.
“All central banks, in periods like this where you have inflationary threats that are coming from commodities, have to…be very careful that there are no second-round effectsâ€� on domestic prices, Mr. Trichet told The Wall Street Journal from his office overlooking Frankfurt’s financial district.
[Read more...]Click for detailed story