Money, Subjective Value, and Gold

John Tamny, of Forbes magazine has written a recent article in which he takes Austrian economist David Gordon to task for not being Misesian enough in a book review of Money by Steve Forbes and Elizabeth Ames. Such critiques can be a useful exercise when the author has a solid grasp of the axioms of Austrian economics and Ludwig von Mises’s contributions to economics. When that foundation is shaky, the result is simply to add to the confusion. My reading of Tamny’s critique of Gordon finds the absence of two key elements of Aust ... view article.

Austerity as Economic Liberation

George Soros is back in the news telling Germany who to bail out this week. Soros is especially sore at Germans for promoting austerity, so it’s a great time to ask: does austerity grow an economy? Why do we care? Investors want to know whether austerity is good or bad for an economy; whether it’s likely to boost growth or to hasten a recession. And for voters, it’s important to know whether it’s time for more, or less, austerity. First we want to be sure what we’re even talking about. The word “austerity ... view article.

Rick Ackerman and Technicals – Wed 29 Oct, 2014

Using Hidden Pivot analysis, James, it’s all just impulse legs, and the hourly chart is still bullish. As for not going gang busters, and notwithstanding yesterday’s feeble performance, the rally from the October 17 low is one of the most powerful short squeezes on record. I am as bearish as the next guy, and I think the market is in a topping pattern. But I wouldn’t count the Sleazeballs out yet, and I surely wouldn’t lay even money, as you might, that new record highs will not be achieved. ... view article.

Cory’s Insights – Wed 29 Oct, 2014

Patrick Chidley, Senior VP, Global Metals & Mining Research, HSBC Securities joins BNN to discuss why he’s bullish on gold stocks after sell-off. He focuses on the fact that gold companies are entering earnings season and that is a potential for investors to see that the companies have been able to get their costs under control. Other aspects of the interview include potential money printing from other countries around the world and the Swiss referendum on November 30th. Unfortunately BNN does not allow their videos to be embed&rsquo ... view article.

The Doctor Is In – Mon 27 Oct, 2014

Al, Thanks for acknowledging my point. It is less important whether they “manage” on daily basis since we cannot use the information reliably. However, if you check the price move, you can see, almost every day, price dip on the opening and price dips on closing. The price also drops consistently before the COMEX open. I cannot remember when it is the last time it did not do it. Someone said it is 120 out of 130 days something. Since the price was nearly flat for a year, the chance for price going up and down is 50%, slight favorin ... view article.

ClubOrlov: How to start a war and lose an empire

Ty's note, an excellent perspective from outside the main stream media for thought and consideration. The wars which are raging around the world are non stop. The American empire is old and corrupt just as the Russian version and the new paradigms are yet to be established. The exorbitant privilege of currency counterfeiting by the American governments and financial systems are nearing their Waterloo.   Tuesday, October 21, 2014 How to start a war and lose an empire [Auf Deutsch] [En français] A year and a half I wrote an essay o ... view article.

The Imperative of Revolt

Ty's note, although I am a conservative libertarian and Chris hedges is a liberal progressive his insights are critical to understanding the unfolding totalitarianism in disguise. He is a master at seeing through the Orwellian world we live an slicing through it like a hot knife through butter. He is a brave patriot telling truth to power. Pray that some among us hear him. That includes you. Enjoy his unique analysis which I believe is very correct.   By Chris Hedges   Protesters chant as they are arrested ... view article.

Another Unbelievable Stress-Free Test; Whitewash Math and Deferred Tax Assets

In an effort to fool the public into believing the latest round of bank stress tests were actually designed to find stress, the ECB found 25 scapegoats, with the biggest losers in Italy and Greece. Interested parties may wish to slog through the full 178 page Stress Test Report. Capital Shortfalls Non-Performing Loans Here’s a chart from PDF page 75 (report page 67) with thanks to ZeroHedge. There is €879 billion in nonperforming loans but the report concludes bank assets are only €48 billion overstated. Apparently we are to ... view article.

The Many Ways the State Taxes the Poor

Most defenders of the state assume that government services help the poor. And, sometimes, some poor people do benefit financially from government programs. But there’s a hidden cost: taxation and mandatory programs (Social Security, for instance) that hurt the needy by restricting their choices. Government taxes away income that low-income households could invest in improving their lives. At the same time, state-sponsored benefits create incentives that keep the poor trapped in poverty. Many assume that government barely taxes the po ... view article.

10,000 Tons of Gold Bought? – The math says China could have easily done it!

By Chris Hamilton Since August ’11 to August of ’14, China has decreased its holdings of US Treasury debt by $9 Billion (according to the most recent TIC data)…while continuing to run record trade surpluses with the US. This means China will have (by year end 2014) taken in $951 Billion in shiny, new, digital dollars since 2011 and simultaneously sold or rolled off $9 Billion in US Treasury holdings…so China will have had to find a home for $960 Billion new dollars. From ’00 to ’11, China had (on average) ... view article.

Insights From Listeners – Sun 26 Oct, 2014

Yes, that is true Lawrence. Cash is legal. But what is true and what is fact are not always the same thing. We have known for many years that cash was considered by most governments to be the realm of black markets, the underworld, tax avoidance, gambling, goods fencing, arms sales, terrorism, money laundering, crime syndicates, prostitution, drug dealing, car parts rings, corruption, and most illicit activities known to men. None of those activities are formally recorded on ledgers anywhere. So Ma and Pa might run an honest flea market or buy ... view article.

What Do Seven Billion People Do? Top 10 Mega-Cities by Population 2014 vs. 2030 Estimate

Reader Bran who lives in Spain sent some interesting charts of population, expected population growth, the world’s largest cites, and what people do for a living. I don’t have links for the charts, but most show the origin. Seven Billion People Breakdown 4.30 Billion Work 1.90 Billion too Young to Work 0.43 Billion Unemployed 0.58 Billion 65 or Older Total about 7.2 Billion people Cities With Projected 2030 Population of 10+ Million Top 10 Mega-Cities by Population Anyone have any concerns over these numbers in regards to job ... view article.

What the Swiss Gold Referendum Means for Central Banks

On November 30, the lucky Swiss citizens get to go to the polls and tell the Swiss National Bank what to do about gold. A yes-vote will require the SNB to: Increase its gold reserves to 20% of its assets, which may force it to buy 1,500 to 1,700 tons of gold Stop selling its gold Hold all its gold within the country (rather than in London, and elsewhere). It will send shock waves through the gold market and will be a game changer for central banks around the world, according to Egon von Greyerz, Founder and Managing Partner of Matt ... view article.

Vladimir Putin Is The Leader Of the Moral World — Paul Craig Roberts

Copyright .© Paul Craig Roberts 2014.- Please contact us for information on syndication rights. This site offers factual information and viewpoints that might be useful in arriving at an understanding of the events of our time. We believe that the information comes from reliable sources, but cannot guarantee the information to be free of mistakes and incorrect interpretations. IPE has no official position on any issue and does not necessarily endorse the statements of any contributor. ... view article.

The Mother of all Jobs in the EU

Ironically, the more Eurocrats try to integrate the EU through imposition of fiscal, monetary, banking, and political straitjackets, the closer the Union comes to disintegration. By Don Quijones, freelance writer, translator in Barcelona, Spain. Editor at WOLF STREET. Mexico is his country-in-law.  Raging Bull-Shit is his modest attempt to scrub away the lathers of soft soap peddled by political and business leaders and their loyal mainstream media. This article is a Wolf Street exclusive. As of two days ago, the European Union  ... view article.

Al’s Insights – Sat 25 Oct, 2014

This is an absolutely amazing statement! “Appearing at a Boston rally for Democrat gubernatorial candidate Martha Coakley on Friday, Hillary Clinton told the crowd gathered at the Park Plaza Hotel not to listen to anybody who says that “businesses create jobs.” “Don’t let anybody tell you it’s corporations and businesses create jobs,” Clinton said. “You know that old theory, ‘trickle-down economics,’” she continued. “That has been tried, that has failed. It has failed rath ... view article.

Al’s Insights – Sat 25 Oct, 2014

I have to tell you that I personally have all the  time in the world for this man. NBA Hall of Famer Charles Barkley spoke candidly about the problems facing the black community when appearing on a Philadelphia radio station, accusing “unintelligent,” “brainwashed” African-Americans of keeping successful ones down. While appearing on “Afternoons with Anthony Gargano and Rob Ellis,” Barkley was asked about a rumor that Seattle Seahawks QB Russell Wilson was getting criticism from his black teammates ... view article.

Low Coal Prices Are Tearing into Corporate Balance Sheets

It’s not just the low price of oil that’s causing trouble. Coal companies too are being ravaged by low prices. By Nick Cunningham, Oilprice.com: The slide in oil prices has raised speculation that oil companies in the U.S. could be forced to cut back on production, but a market slump in another commodity is also putting pressure on producers. Coal markets are currently experiencing a supply glut that is showing no signs of recovery. Mining companies drew up plans for billion-dollar projects in the mid-2000s, when commodity prices w ... view article.
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