A currency war is different from any other kind of conventional war in that the object is to kill oneself.
When the reign of “king dollar” finally comes to a belated end, let’s hope all the gold we allegedly have stored in Fort Knox is actually there.
Stockman’s NYT piece offers a litany of objectively dismal facts and cogent explanations of how we got here.
The travails of the pound is far more instructive to those pondering the fate of the U.S. currency.
The whole situation mirrors the late 1960s, during a period that led up to the “Nixon Shock.”
A failure to raise the debt ceiling is not a commitment to renege on obligations. It is simply a decision to stop borrowing.
We are now – and will remain – a debt-fueled economy for as long as the rest of the world permits this to continue.
While the “Peter Schiff was Wrong” campaign was a great marketing success for Shedlock, it was a disaster for any investors taken in by the rhetoric.
Both Congress and the President readily admit that without an increase in the debt ceiling, the government will default on its obligations.
The elevation of taxpaying into an act of patriotism seems a stretch for most Americans.
Although the Fed is directing its fire towards the housing market, the needle they are actually hoping to move is not home prices, but the unemployment rate.
Si uno cree en la libertad individual y en un gobierno limitado, entonces el patrón oro es el mejor aliado.
Under a gold standard, the free market determines money supply and interest rates.
Ryan never considers how rising interest costs on the many trillions of dollars of outstanding government debt holdthe potential to completely upend budget projections.
The developments should provide new reasons for investors and economy watchers to abandon their faith in central bankers as super heroes capable of saving the economy.
The Supreme Court has a history of giving the government latitude to get around the Constitution.
Preserving a broken system merely to avoid the pain necessary to fix it only makes the situation worse.
Once it becomes obvious just how many dollars the Fed is prepared to print to stave off recession, people running into treasuries today will likely suffer buyer’s remorse.
As the curtain eventually falls on the drama unfolding in Europe, the world will refocus its attention on the more spectacular events in the U.S.
When currencies fail to adjust something else has to give.