Back in the days of kings and queens, a monarch justified his power by claiming a ‘divine right’ — given to him by God.
The current occupant of the White House is the most amusing of all. He is not necessarily the dumbest of the lot…or the most conniving…but he is certainly the boldest.
The economy is limping…staggering…and buckling. And you know what that means — cheaper credit…and more money for speculators!
Will all this spending, inflating, and rate-cutting really make the economy healthier? Of course not.
You borrow the money. You buy the house. You sell the house 20 years later…and you give back the money. You would have enjoyed two decades of free housing.
In the 21st century, GDP growth rates slowed. Debt increased. Imports soared; exports slumped. And the perversities and absurdities increased.
When the economy is healthy and growing, people buy stocks and the index generally goes up. When it is fearful and correcting its mistakes, they buy gold and the index goes down.
Like a powerful drug, the phony money corrodes and disfigures your economy. Your teeth rot; your brain shrivels.
Faced with the next crisis, the grease monkeys at central banks are going to do what everyone expects them to do. They’ll turn the screws on savers, harder than ever.
Markets, economies, and even empires move in great, long-term swings. Sometimes they are forward-looking and expansive. Sometimes they retreat…
Why is the average US man poorer today than he was 45 years ago? His income is lower. And a typical lifestyle costs him twice as many work hours as it did then.
You could buy the Dow with 40 ounces of gold in January 2000. By January 2011, the Dow 30 stocks would cost you only 8 ounces.
Gold is real money. So, we measure real wealth in real money…and we compare it to dollar prices.