Long Silver John

Book Review: Fool's Gold, by Gillian Tett

The only problem is when these guys create a casino that is ultimately backed by taxpayer money. I have no problem with them betting and losing their own money. It bothers me to no end that the rest of us have to bail them out because of their cozy relationship with Fed/Treasury policy makers.

Watch for Yourself: 60 Minutes Oil Story Was Spot On

Aren't the dynamics of easy money on the oil sector about the same as the dynamics of easy money on the real estate market? Buyers sign up for future delivery at increasingly bid up prices, thinking they'll flip if for a profit. That builds up the price bubble. When they aren't able to sell at even greater prices, they hit the panic button and dump the contracts. This is straight out of the Austrian Economics theory, which focuses on money supply as causing boom and bust cycles.