Really Bad Ideas, Part 4: Federal Flood Insurance

BY JOHN RUBINO 09/19/2017 As Hurricanes Harvey and Irma wreaked their havoc over the past couple of weeks, several interconnected questions popped up, the answers to which make us look, to put it bluntly, like idiots. Why, for instance, are there suddenly so many Cat 4 and 5 hurricanes? Is this due to man-made climate change and is this summer [...] Read more

Really Bad Ideas, Part 3: Government Debt Isn’t Actually Debt

BY JOHN RUBINO 08/09/2017 The failure of fiat currency and fractional reserve banking to produce a government-managed utopia is generating very few mea culpas, but lots of rationalizations. Strangest of all these rationalizations might be the notion that government debt is not really a liability, but an asset. Where personal and business loans are [...] Read more

Really Bad Ideas, Part 2: Giving Up Without Admitting It

BY JOHN RUBINO 05/26/2017 Doing the right thing is hard for both individuals and their governments. Name the goal – maintaining a healthy weight, paying off high-interest credit cards, keeping debt-to-GDP at reasonable levels, whatever – and with each missed deadline or broken promise success recedes further into the distance. And the temptation [...] Read more

Really Bad Ideas, Part 1: Modern Monetary Theory

BY JOHN RUBINO 05/12/2017 The past century has been an orgy of experimentation. We tried fascism, which initially looked good to some before (literally) crashing and burning. We tried communism, which looked great to many before killing millions and withering away. Fiat currency and fractional reserve banking, meanwhile, still make sense to most [...] Read more

Gold’s deal blitz could draw in the rest of mining

Gold’s deal blitz could draw in the rest of mining

Positive signs. Image: Mohamed Noor, Pixabay. By David Stringer and Danielle Bochove - Bloomberg News 12/10/2019 A torrent of deal-making among gold producers that’s pushed M&A in the sector to an eight-year high is seen spilling over into the wider mining industry — if there’s a rally in global growth. Pending and completed gold acquisitions [...] Read more

Gold’s been on a tear this year and 2020 may see more reward

Gold’s been on a tear this year and 2020 may see more reward

Bullion buying by governments has emerged as an important pillar of demand, including purchases by China. Credit: Christopher Rankin via Flickr By Ranjeetha Pakiam, Elena Mazneva and Yvonne Yue Li - Bloomberg News 11/10/2019 Gold’s impressive advance in 2019 — aided by trade war frictions, easier monetary policy across the world’s leading [...] Read more

Credit Bubble Bulletin: Crazy Extremis

By Doug Noland 12/07/2019 Dr. Bernanke has referred to the understanding of the forces behind the Great Depression as the “Holy Grail of Economics.” But was the Great Depression chiefly the consequence of post-crash policy mistakes, as conventional thinking has come profess? Was it really a case of the Federal Reserve having grossly failed in its [...] Read more

Gold miners flash the cash in biggest deal binge in a decade

Gold miners flash the cash in biggest deal binge in a decade

Image by Matt Neale By Jeff Lewis and Zandi Shabalala; Editing by Lisa Shumaker - Reuters 12/04/2019 Gold miners look set to extend a deal spree after notching transactions worth a record $30.5 billion this year, according to data, the biggest M&A binge since bullion prices peaked nearly a decade ago. Led by top producers Newmont Goldcorp Corp [...] Read more

How far will gold reach before the upcoming reversal?

How far will gold reach before the upcoming reversal?

By Przemyslaw Radomski, Sunshine Profits 12/03/2019 Just when most traders thought that the previous week is going to end in the red for gold, something exceptional happened. The USD Index reversed after rallying, and gold rallied sharply in response. In the end, gold ended the week in the green by forming a clear weekly reversal. That was [...] Read more

Huge public, corporate and household debt looks like the ‘new normal’ for the global economy – until the next crisis

Huge public, corporate and household debt looks like the ‘new normal’ for the global economy – until the next crisis

A teller counts yuan at a bank in Lianyungang, in east China's Jiangsu province, in August 2015. Photo: AFP Macroscope by Anthony Rowley 11/02/2019 Large debts at the public and private level may not matter as long as growth continues and interest rates remain low That could all change should a new financial crisis creep up on the global economy, [...] Read more

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