The gold price fell, dramatically, and now is bobbing about. Meanwhile, the prospects for implementing a 21st century gold standard continues to rise. Dramatically.
Economist Nouriel Roubini is now actively proposing the ECB enter the global beggar-thy-neighbor currency wars as a solution to the eurozone crisis.
Most people always envy athletes for their fame and money, but really they should envy their work ethic. Now I know they have it great, they play a game for a living and make millions of dollars, but it takes a lot of blood, sweat, and tears to get there. Unlike many in society, they have to to earn their success based on their merits, they weren’t given anything.
Silver may be trading well off its highs above $40 per ounce, but investment demand has never been stronger. That opening day marks the highest one-day tally in the history of the Silver Eagle program dating back to 1986.
Many have dubbed the last decade or so to be an era of easy money. As it turns out, that characterization may have been premature. Based on the new crop of central bankers who are primed to take control of the world's financial system, the age of truly easy money may be just getting started.
Given the world's central bankers are already in a currency war, a policy statement made by a deputy-governor of China's central bank should not come as a surprise.
Singapore, alone, has been able to sustain genuine economic growth in the context of a strong national currency.
The ECB wants a cheaper euro, the Fed wants a cheaper dollar, China wants a cheaper yuan, and Japan wants a cheaper yen. Mathematical reality says that's impossible, yet that is what every country wants to achieve.
The government of Japan is not open to suggestions from anyone, not even its own central bank head who resigned before his term expired.
To suggest that this is inflationary is a complete fantasy. It is aimed at stopping deflation. Over the past three years, nominal GDP in Japan has been roughly flat. In other words, total spending for the economy has been nil.
A national political campaign can be a good vehicle for educating the citizenry about vital issues -- whether fiscal balance requires tax increases, say, or the pros and cons of health care reform. By Election Day, Americans who have been paying attention will know more about such matters than they did when the race began.
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