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  • There Is No Asset Bubble? [View article]
    Excellent article.
    Mar 23, 2013. 06:48 AM | Likes Like |Link to Comment
  • Cash Hoards On The Sidelines And The Great Rotation: Old Myths Meet A New Reality [View article]
    When markets decline, capital is destroyed, economic activity decreases and value increases.

    When markets rise, capital is created, economic activity increases and value decreases.

    Markets are inefficient and reallocate value.

    Buy low, sell high.

    Those who say don't know. Those who know don't say.

    Your gut is smarter than your brain. Listen to your gut.
    Feb 17, 2013. 10:46 AM | 1 Like Like |Link to Comment
  • Cash Hoards On The Sidelines And The Great Rotation: Old Myths Meet A New Reality [View article]
    When the FED buys an asset, cash is put into the system. When the FED sells an asset, cash is taken out.

    The FED buys and sells every asset class including U.S. Treasuries.

    The FED manages the primary Reserve Currency of the world.

    When the FED buys troubled assets it forgives bad decisions and they get repeated.

    Two decades is a short period of time.
    Feb 17, 2013. 10:26 AM | 1 Like Like |Link to Comment
  • Stunning Bond Collapse Will Be Gold's Gain [View article]
    I enjoy your articles and find them very insightful and well written.

    Currencies are what people accept as payment. Right now my payments are made with a piece of plastic, debit card, not paper. Soon I think my payments are going to be locked up in my iPhone.

    Some computer somewhere keeps track of the pluses and the minuses and for the most part the computer is 99.999% accurate.

    The FED doesn't print money like the curmudgeon gold speakers like to say. It creates data and adds digits here and there to serve policy objectives. The objectives may be ill conceived or unattainable.

    No one is turning down my debit card so far, as long as the computer says I have positive digits.

    When I try to use paper they frown. They absolutely refuse to take gold. So Bernanke was right about gold not being currency for 99.999% of shoppers. No one bites down on my debit card to see if it is real or fake.

    Gold seems to be a status symbol for central banks. Even for them though, I suspect bullets and beans have more value as currency than gold.

    I appreciate your diligent effort to track what the wizards behind the curtain are doing. It does have some tea leave value. Seems to be losing that value though as the FED is on both sides of every trade.

    For the individual gold buyer, it's a cultural thing, based on an outdated notion. Kinda like yams or cowry shells. Gold is an asset that has an historical notion of value that is losing its appeal. Kinda like paper and coins being replaced by the debit and the debit card being replaced by the iPhone.

    As I get older I'm hoping they develop a chip to put in my brain that allows me to tweak my nose for payments. Hopefully it will also instantly and wirelessly access all known knowledge so I can be witty and funny thereby improving my pickup lines.
    Feb 3, 2013. 11:57 AM | 1 Like Like |Link to Comment
  • Virtually All 2013 Outlooks Summarized: Part 1 - Short Version Summary, Conclusions [View article]
    The lobbyists represent a constituency. The constituency represents the people, Unions, NRA, AARP, Homeowners, Wall Street banks, NPR, Farmers, on and on... Each constituency passionate about what a**holes the others are and their lobbyists. The politicians and lobbyists are just giving the people what they want. And taking their little slice and the perks of being in power.

    No one constituency consists of any real statesmen concerned with the Constitution or the framework that bore this unbelievably productive society.

    There is no boogeyman to blame.

    As Pogo said, "We have met the enemy and he is us." We're just all taking our turns at the trough until it all falls apart.

    We've learned how to raid the public treasury and we won't stop until it's all over. No society ever has, probably no society one ever will.
    Jan 7, 2013. 01:53 AM | 3 Likes Like |Link to Comment
  • Eric Sprott: I Think We Are In For A Shortage Of Physical Gold [View article]
    Eventually it will not be the relative value of one currency to another, but, rather increased nominal amount of money trying to purchase the same or less output.
    Dec 25, 2012. 09:54 AM | 1 Like Like |Link to Comment
  • Middle East Facts You Should Know [View article]
    Thank you, both to the author and comments. Very informative for someone sitting in the USA and concerned but not necessarily informed.
    Dec 17, 2012. 08:12 AM | 1 Like Like |Link to Comment
  • Fiscal Cliff And Deficit Conversation Misses The Point [View article]
    It's not the politicians. It's the people that elect them. They know exactly what they are doing. Taking something for nothing. Past generations had a conscience about it. They knew they were harming the system and their children by taking something for nothing. This generation, the baby boomers, in large part, disdains children, has no regard for the future. Democracies, social or otherwise, don't work. Republics can but only if founded in a culture of hard work for hard work's sake.
    Dec 7, 2012. 11:19 AM | 5 Likes Like |Link to Comment
  • Global Macro: The Search For Yield [View article]
    Dec 3, 2012. 07:38 AM | Likes Like |Link to Comment
  • Global Macro: The Search For Yield [View article]
    Yield can also be had by investing in income producing assets, such as irrigated farmland.
    Sep 17, 2012. 10:45 AM | Likes Like |Link to Comment