Category Archive: 6b.) Acting Man

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Ukraine and the Next Wave of Inflation, Part II, Can Russia Enact a Gold Standard?

2022-03-13

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2022-03-13

Can Russia Enact a Gold Standard? In Part I we discussed how the fallout from the Russian invasion of Ukraine will lead to inflation, but not in the way most people think.  In Part II we discuss the possibility of Russia repudiating the dollar and going on a gold standard. Can they do it? How would the world react? Why not enact a Bitcoin Standard instead?

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Mapping the Conflict in the Ukraine

2022-03-12

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2022-03-12

Russian Troops in the Crimea John Kerry is appropriately aghast at the “incredible act of aggression” by Russia in the Ukraine: “You just don’t in the 21st century behave in 19th century fashion by invading another country on completely trumped up pre-text,” Kerry told the CBS program “Face the Nation.”

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What’s In Your Loan?

2021-11-29

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2021-11-29

Opposing Monetary Directions “Real estate is the future of the monetary system,” declares a real estate bug. Does this make any sense? We would ask him this. “OK how will houses be borrowed and lent?” “Look at this housing bond,” he says, pointing to a bond denominated in dollars, with principal and interest paid in dollars. “What do you mean ‘housing’ bond’,” we ask, “it’s a bond denominated in dollars!” “Yes, but housing is the collateral.”...

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A Look Back at Nixon’s Infamous Monetary Policy Decision

2021-08-17

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2021-08-17

Putting the World on a Paper Standard Half a century ago one of the most disastrous monetary policy decisions in US history was committed by Richard Nixon.  In a television address, the president declared that the nation would no longer redeem internationally dollars for gold.  Since the dollar was the world’s reserve currency, Nixon’s closing of the “Gold Window” put the world on an irredeemable paper monetary standard.

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Post-Covid China

2021-07-05

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2021-07-05

Wuhan, China
The world should take a lesson from how East Asia ran itself in 2020. Japan had no lockdown. None. With an aging population, its death rate has been creeping up for many years. In 2020, it fell by 0.7%, as if Covid-19 was a life-saver.

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COVID in India

2021-05-26

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2021-05-26

I have just returned from a visit to my family in India. It was hard to escape. To get to the US from India, I needed a COVID test. The Indian government has seriously restricted who can provide COVID testing, treatment, and vaccination. Private doctors and hospitals that are not approved face brutal legal consequences if they provide COVID treatment.

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Did You Make Janet Yellen Rich?

2021-02-08

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2021-02-08

The Stress of Losing Billions. Up until the WallStreetBets crowd short squeezed Melvin Capital for a $7 billion loss, Robinhood had it made. But losing billions is stressful. And when your product blows up your customer the clucking that follows comes hot and heavy.

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Grantham’s ‘Real McCoy’ Bubble in a World Gone Mad

2020-12-21

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2020-12-21

NVDA, weekly, over the past 6 years.
The Lure of Easy Money. Right now happens to be an attractive time to do something stupid.  What’s more, everyone is doing it.  Maybe you are too. Stock valuations and corporate earnings growth no longer appear to matter.  Why not buy an S&P 500 index fund and let it ride?  Or, better yet, why not buy shares of Nvidia?

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Janet Yellen: Too Dumb To Stop

2020-12-10

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2020-12-10

Autographing Funny Money. The United States Secretary of the Treasury bears a shameful job duty. They must place their autograph on the face of the Federal Reserve’s legal tender notes. Here, for the whole world to witness, the Treasury Secretary provides signature endorsement; their personal ratification of unconstitutional money.

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What You Will Find When You Follow the Money

2020-08-17

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2020-08-17

Lockdown Disaster. It has been a rough go for California Governor Gavin Newsom. Late last week it was revealed that the state Department of Public Health had tickled the poodle on its COVID-19 record keeping. Somehow the bureaucrats in Sacramento under-counted new corona-virus cases by as many as 300,000.

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The Dollar Is Dying

2020-08-11

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2020-08-11

Insulting the Captive Audience. This week, while perusing the Federal Reserve’s balance sheet figures, we came across a rather curious note.  We don’t know how long the Fed’s had this note posted to its website.  But we can’t recall ever seeing it.

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Silver “Scarcifies” – Precious Metals Supply and Demand

2020-07-31

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2020-07-31

Silver spot price vs. September basis
The action on 27 July was not. Notice the big drop in the basis starting around midnight (London time). It falls from over 7% to under 2%.

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Game Over Spending

2020-07-13

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2020-07-13

Coming and Going Like a Wildfire. Second quarter 2020 came and went like a California wildfire.  The economic devastation caused by the government lock-downs was swift, the destruction immense, and the damage lasting.  But, nonetheless, in Q2, the major U.S. stock market indices rallied at a record pace.

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An Excellent Seasonal Buying Opportunity in Silver Lies Directly Ahead

2020-06-29

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2020-06-29

Today I want to put a popular precious metal under the magnifying glass for you: silver. Silver, often referred to as the “little brother” of gold, has a particularly interesting seasonal pattern I would like to share with you.

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The Decline of the Third World

2020-06-24

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2020-06-24

A Failure to Integrate Values. The only region in the world that has proactively tried to incorporate western culture in its societies is East Asia — Singapore, Japan, Hong Kong, South Korea, and Taiwan. China, which was a grotesquely oppressed, poor, Third World country not too far in the past, notwithstanding its many struggles today, has furiously tried to copy the West.

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US Money Supply – The Pandemic Moonshot

2020-06-16

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2020-06-16

Printing Until the Cows Come Home… It started out with Jay Powell planting a happy little money tree in 2019 to keep the repo market from suffering a terminal seizure. This essentially led to a restoration of the status quo ante “QT” (the mythical beast known as “quantitative tightening” that was briefly glimpsed in 2018/19). Thus the roach motel theory of QE was confirmed: once a central bank resorts to QE, a return to “standard monetary policy”...

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In Gold We Trust, 2020 – The Dawning of a Golden Decade

2020-06-03

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2020-06-03

The New In Gold We Trust Report is Here! The In Gold We Trust 2020 report by our good friends Ronald Stoeferle and Mark Valek was released last week. It is the biggest and most comprehensive gold research report in the world.

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Gold Stocks – A Show of Strength

2020-04-17

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2020-04-17

Gold Sector Outperforms Broad Market. The gold sector is in an uptrend since September 2018. The initially rather labored move accelerated after a secondary low was established in May 2019 and the 50-day and 200-day moving averages were breached for the second time. Last week the two moving averages were once again overcome in the course of the post-crash rebound.

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The Secret to Fun and Easy Stock Market Riches

2020-02-18

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2020-02-18

Post Hoc Fallacy. On Tuesday, at the precise moment Federal Reserve Chairman Jay Powell commenced delivering his semiannual monetary policy report to the House Financial Services Committee, something unpleasant happened. The Dow Jones Industrial Average (DJIA) didn’t go up. Rather, it went down.

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A Pharmaceutical Stock That Is Often Particularly Strong At This Time Of The Year

2020-02-15

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2020-02-15

Novo Nordisk, seasonal pattern over the past 10 years
An Example of Strong Single Stock Seasonality. Many individual stocks exhibits phases of seasonal strength. Being invested in these phases is therefore an especially promising strategy. Danish drug company Novo Nordisk.

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