From Numismaster: London Squeeze Raises Silver Price (by Patrick A. Heller, 9-4-12) When the price of silver topped $30 about 10 days ago, demand on this exchange surged. The best information I have is that at least two purchases were made then, each in the range of 5-10 million ounces of silver. The sellers simply [...]
Aug 30 (Reuters) - Germany and China plan to conduct an increasing amount of their trade in euros and yuan, the two nations said in a joint statement after talks between Chancellor Angela Merkel and Chinese Premier Wen Jiabao in Beijing on Thursday. Remember, Germany's the economic engine of Europe, and China is the economic [...]
Something seems wrong with the way we measure inflation. According to the government’s standard measure, the Consumer Price Index (CPI), inflation is roughly the same as it’s been for many years—3.1 percent. But it seems much higher to anybody who shops at grocery stores, drug stores, or hardware stories, or fills up at gas stations, [...]
Tell it to these folks: Rising food costs spur massive US theft of produce, meat Sunday, April 17, 2011 by: Ethan A. Huff, staff writer Forget diamonds and cash. Rapid inflation and the tanking US economy have birthed a whole new wave of organized crime involving food. The New York Times (NYT) reports that a [...]
Mises died in 1973. Capitalism: [Accustomed] to the conditions of a capitalistic environment, the average American takes it for granted that every year business makes something new and better accessible to him. Looking backward upon the years of his own life, he realizes that many implements that were totally unknown in the days of his [...]
What happens when the central bank spews forth vast sums of brand new money? Just what they wanted: prices start to rise. The problem is, there's no way for them to precisely guide where the new money goes, so prices for everything start to rise. Everything, of course, includes food and energy. Now, it is [...]
This ArmyTimes article from 15 October 2010 contains this gem: For the second year in a row, there will be no cost-of-living adjustment in military and federal civilian retired pay, nor in veterans’ disability and survivor benefits, in 2011. “You have to look for the silver lining,” said Steve Strobridge of the Military Officers Association [...]
In my last post I talked about the problems with economic forecasting, with economists in general, and with the seeming inability of anyone to explain what in the heck is going on. Well, I believe I know what's going on. We are experiencing, and will continue to experience, a deep and prolonged deflation. But this [...]
There's a reason why the Constitution specifies that only gold and silver shall be money: paper currencies are too easy to print when you start to run low. The chief counterfeiter at the Federal Reserve is very good at proving the point. "Credit bubble" is a misnomer; what we are suffering from is the aftermath [...]
In this second installment, I bring you another veteran's opinion of the financial condition of the world. I heartily recommend listening to the entire interview with Felix Zulauf at KingWorldNews: Some highlights follow: Felix Zulauf: I think we are living in a time when we are going through many crises but the common denominator of [...]
For quite a number of years, many decades in fact, members of the Austrian School of Economics have been trying to convince Western governments that the Keynesian fiscal path they'd embraced could only end in a disaster of insolvency that devolved into a currency collapse. In 1940 in his landmark text Human Action Ludwig von [...]
