The longer you wait to cash out of the US dollar, the less you’re going to get for your winnings
The Fed is stalling for time and hoping that the economy will inexplicably roar back to life
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.