Blog

For the past decade, central banks worldwide have been moving more and more of their gold reserves from foreign depositories to secure domestic sites. They are moving their bullion due to concerns about the stability of the global financial system, seeing security in...

The Fed isn’t backing down.  During his last scheduled talk before the Fed’s next policy meeting, Jerome Powell vowed to defeat inflation:   “I can assure you that my colleagues and I are strongly committed to this project and we will keep at it until the job is...

The audience shimmered with expectation as Fed Chief Powell began to speak.  If Powell announced a Fed pivot, bears would head for cover and bulls would run free. And the stock market would jump back on track to reach record highs.  But Powell dashed all hopes of a...

The message was clear: Russian oil was no longer welcome in America.  “This package is about bringing every tool of economic pressure to bear on Vladimir Putin and his oligarch cronies,” said Democrat Sen. Ron Wyden after Congress passed the ban on Russian energy...

Once upon a time, the US dollar was “sound money” — its value was pegged to a fixed weight of gold, not debt as it is today. Back then, the government wasn’t able to “print” unlimited “dollars” out of thin air. They had to buy  gold equivalent to around 25% of what...

If investors always try to “follow the Smart Money,” like hedge funds and renowned, sophisticated investors, then one question comes to mind:  Who, or what, does the Smart Money follow?  The answer is the “Smartest Money” — central banks. Every day, we read about how...

The dollar remains the world’s reserve currency, but Russia and China are signaling a significant shift away from the greenback. Now the Bank of Israel seems to show these efforts are somewhat successful as it’s reducing its exposure to the dollar (and the euro). In...

On July 13, the Bureau of Labor Statistics released the latest inflation data, which shows that the Fed remains unable to reign in spiking prices. For the year ending in June, the consumer price index rose 9.1%, the highest since 1981.   Three categories are the main...

Recently, I wrote about my concerns about the weaponization of the dollar in response to the Russian invasion of Ukraine. US and EU leaders implemented unprecedented financial sanctions against Moscow to cripple the Russian economy and force them to end the war. So...

On July 4th, we celebrate the independence of the United States from Great Britain. The Revolutionary War lasted eight years and cost the lives of approximately 6,800 soldiers. In the end, through blood and sacrifice, our country was born, based on the belief “that...

The US economy has suffered one blow after another over the past couple of years, and recession warnings are mounting — from Deutsche Bank, the World Bank, and Morgan Stanley to Elon Musk and Jamie Dimon. And, according to a CNBC survey, 80 percent of small-business...

For several months, we have written about the risk a coming financial and economic meltdown due to uncontrolled inflation, the dollar facing increased competition, and the global impacts of the coronavirus pandemic and the Russia–Ukraine war. Towards the end of 2021,...

For several months, we have written about the risk a coming financial and economic meltdown due to uncontrolled inflation, the dollar facing increased competition, and the global impacts of the coronavirus pandemic and the Russia–Ukraine war. Towards the end of 2021,...

“Should I wait for the price of gold to come down or buy silver now?” asked a friend recently after complaining that the price of gold was too high. Like many Americans, he worried that the stock market was dangerously over-priced and that a painful reckoning was...

Despite investor enthusiasm, the current bull market in stocks is running out of steam. Many companies, including Walmart and Microsoft, are cutting their profits forecasts for 2022. Many economists expect stagflation or a US recession because the Federal Reserve is...

Despite investor enthusiasm, the current bull market in stocks is running out of steam. Many companies, including Walmart and Microsoft, are cutting their profits forecasts for 2022. Many economists expect stagflation or a US recession because the Federal Reserve is...

On March 4, 1865, President Abraham Lincoln stood on a muddy street, delivering his second inaugural address. The Civil War was coming to an end, and the President gave a paragraph of his speech to the unification of the North and South after years of bloody fighting:...

We have seen a general retraction in prices of asset classes over the last several weeks. One explanation that analysts have provided as to why gold and the major stock markets moved in tandem is what analysts refer to as a “liquidity drawdown.”   Why did large hedge...

In the 1920s, a British chemical manufacturer combined water, mineral oil, and beeswax to produce Brylcreem, a popular hair cream. The product’s jingle — “A little dab will do ya!“ — constantly played on radio and television stations.   Has this slogan, repeated over...

The financial sanctions imposed by the West on Russia are extensive and unprecedented, and they are devastating the Russian economy and reigniting the Cold War of the 1960s and 1970s. As an unintended consequence of the sanctions, questions are being raised regarding...