In recent years gold has become a sought-after currency in Vietnam. Why? The usual reason: its government has been printing too much money, causing prices to rise, and causing its currency, the Vietnamese dong, to plummet in value.
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In today’s column on “Money, Wealth, and Models,” Paul Krugman lashes out “the Austrianish horde” for being critical of his view “that you can create real wealth by printing more pieces of paper." He is addressing Hans Hoppe’s critique of Krugman that as a society you cannot turn pieces of paper into wealth, but not by name. Krugman defends himself by resorting once ag... (more)
This will lead to empty store shelves Zimbabwe-style, additionally it will create a massive black market in food, criminalizing almost everyone, and raising the price of food due to the increased risk of "trafficking" in it. Of course, the government says call them to report any "criminal" grocers trying to skirt the law. - Chris
In just under 30 minutes, Peter Schiff and Doug Casey muse on many facets of the crumbling edifice of the status quo that is our current world.
From Gold's relatively imminent rise to $5,000 and beyond, to investor ignorance of reality, Casey & Schiff swing from discussions of the US as political entity going forward to 'escape from America' plans for personal and wealth assets, and the realization that the biggest casualty (of US indebtedness), aside from individual liberty, is t... (more)
You remember when Hostess declared bankruptcy last November? There were outcries that the iconic snack pastry would be gone forever. Speculators began to stockpile the tasty treats.
Investor "euphoria" is taking stocks higher but eventually will be their undoing, market bear Marc Faber told CNBC.
The author of the widely followed Gloom Boom & Doom Reportsaid the current rally, which has seen the Standard & Poor's 500 gain more than 5 percent in 2013 and 12 percent since its November 2012 low, is getting tired and will run out of... (more)
Beginning with the "Yes or No" questions only, everyone's favorite talk-show host takes on The Bernank in this earth-shattering interview. While Lance Armstrong managed to keep the dream alive for over a decade as all around him showed point-blank-proof of artificial stimulation, it took Oprah to get the truth from his lips (oh and a USADA threat). It seems The Federal Reserve has been forced to 'fess up in this entertaining interview as Bernanke sits sobbing across from Ms. Winfrey - a... (more)
There’s a jewelry store in town with a long tradition, a devoted client list, and a good record of solid profitability. But during the last year, it’s moved around like the “oldest established permanently floating crap game” from the musical Guys and Dolls.
It was downtown. Then it was not. It was reestablished on the other side of town, in a low-traffic area where people couldn’t find it. Then, 14 months later, it moved back to its old location. ... (more)
World unemployment is on the verge of breaking new records. This trend will continue until 2017. That’s the news from the International Labour Organization (ILO) in their annual employment report.
Currently, 2009 is the record year for world joblessness, at 198 million. In its 2012 Global Employment Trends report (source), the ILO believes unemployment numbers will rise by over 5 million this year to reach 202 million, topping 2009′s record.
Keeping up New Year's resolutions to get in shape might get tougher thanks to Santa Monica City Council's proposition to ramp up regulations on outdoor fitness classes this spring.
The council is considering banning all classes with more than two participants in the city's most popular workout spot, Palisades Park.
The mainstream media covered the inauguration of Barack Obama with breathless anticipation on Monday, but should we really be celebrating another four years of Obama? The truth is that the first four years of Obama were an absolute train wreck for the U.S. economy. Over the past four years, the percentage of working age Americans with a job has fallen, median household income has declined by more than $4000, poverty in the U.S. has absolutely exploded and our national debt has balloo... (more)
GoldMoney's Andy Duncan talks to Doug Casey, the founder and chairman of Casey Research and the author of a new book called Totally Incorrect. They discuss the current state of global finance and the chances of an upcoming paper money collapse.
Casey points out that the recovery after the 2008 financial crisis is just an illusion created by central bank ... (more)
The birth, and the apparent death, of the trillion dollar platinum coin idea may one day be recalled as a mere footnote in the current debt crisis drama. The ultimate rejection of the idea (which was to use a loophole in commemorative coinage law to mint a platinum coin of any denomination) by both the the President and the Federal Reserve seems to offer some relief that our economic policy is not being run by out-of-touch academics and irresponsible congressmen. In reality, our governm... (more)
