Making Your Own Money
The old adage “money doesn’t grow on trees” doesn’t hold truth like it used to. Today, money literally does grow on trees to the extent that it’s freely printed on tree pulp by the Federal Reserve without any backing in gold or other value. In most instances, we mustn’t even grow it on […]
Gold Update
Twice I have recommended purchasing gold. Today the Fed cut interest rates a half point to 3%, and hinted at future rate cuts. This has and will continue to result in the erosion of the dollar. Furthermore, the political landscape is shaping up so that another generation of borrow-and-spend politicians with no […]
Robert Prechter on the Economy: Is the Worst Over?
Short answer: No. Long answer: put your money where it will retain its purchasing power, inter alia, gold.
http://www.youtube.com/watch?v=SjS60TaD_J8
It’s a bit disconcerting to hear that the underlying market conditions of the present far eclipse that of 1987 and 1929.
The Definition of Insanity
Einstein once defined insanity as “doing the same thing over and over again and expecting different results” - as hackneyed as it is to cite. If it is true that this quote has grown in ubiquity without also gaining accuracy, the Fed has surely put such a criticism to rest today when it cut […]
Word of the Day: Seigniorage
seigniorage, n.: The difference between the value of money and the cost to produce it. For a better explanation, see wikipedia.