“On the threshold of a crisis,” we observed in our essay “Investing Ahead of the Curve” in the July 19, 2011 edition of The Daily Reckoning, “a fertile imagination can be an investor’s most valuable asset.”
[Read more...]Greece Gets Next Round of Bailouts
February 21, 2012 By Leave a Comment
The euro (EUR) was removed from the boiling water this weekend, as the next phase of the bailout for Greece was approved… The reaction of the euro has been somewhat muted though, as most of the markets, being Pfennig readers, already saw the baby steps of stabilization going on, and priced in an approval… The euro has moved higher than 1.32 this morning, but, like I said, the move has been somewhat muted…
[Read more...]Commodities Take Off!
January 27, 2012 By Leave a Comment
The Greek talks returned to the headlines this morning. I know I said this last Friday, and I was a little too optimistic and turned out to be wrong! But… I do expect this agreement on a private-sector involvement in Greek debt to get hammered out this weekend… It seems that the opposition from eurozone policymakers is backing off, and that has me optimistic once again.
[Read more...]Printing Money to Combat a Global Depression
November 7, 2011 By Leave a Comment
Last week produced nothing but more disappointment. At the center of it was the Europeans’ inability to make their debt disappear. They had hoped that they could just announce a plan to take care of it…and that would be enough.
But then, the Greeks said they wanted to vote on it…and then, they didn’t. ‘Papandenomium,’ the papers called it. If the voters were allowed to give their opinions everybody knew what would happen; the whole fix would be unfixed quix. So, they all got together and twisted Papandreou’s arms…and his arms gave way.
[Read more...]A Thousand Pictures Is Worth One Word
August 4, 2011 By Leave a Comment
In spite of constant headlines about debts and deficits, most Americans don’t really believe the U.S. dollar will collapse. From knowledgeable investors who study the markets to those seemingly too busy to worry about such things, most dismiss the idea of the dollar actually going to zero.
History has a message for us: No fiat currency has lasted forever. Eventually, they all fail.
[Read more...]Zimbabwe’s Zombie Dollar Incident
April 20, 2011 By Leave a Comment
Just two days after Zimbabwe’s 31st independence day anniversary, parts of the capital were reportedly in “panic” and “shock” due to spreading word that the Zimbabwe dollar — which has been out of use since April 2009 due to about 89.7 sextillion percent hyperinflation — was possibly back in circulation… a zombie currency back from the dead.
[Read more...]
Preparing for a Lengthy and Unpredictable US Dollar Crisis
“On the threshold of a crisis,” we observed in our essay “Investing Ahead of the Curve” in the July 19, 2011 edition of The Daily Reckoning, “a fertile imagination can be an investor’s most valuable asset.”
[Read more...]