Where the Middle East Meets the Gnomes of Fiat: The Segregation of Risks
It is apparent that Morsi never made up his mind regarding the ultimate Machiavellian question of whether a leader needs to be feared or be loved. The solution imposed by the military creates significant dilemmas for the western nations while raises issues of...Eluding Real Growth and the Future of Precious Metals: The Central Bank of Central Banks Signals the New Phase
The latest report of the BIS (Bank of International Settlements, a.k.a. the central bank of the world’s central banks) is very clear as to the future of further monetary stimulus when it declares: “But despite all the monetary accommodation, economic growth remains...Financial Stress, Chinese Credit Squeeze, and Emerging Markets: Lessons from the Cosmological Constant
The Fed’s hint that they may taper the purchases of financial assets ignited a fear in the markets last week. We have long been advocates of sound money while questioning the viability of a financial system that is based purely on fiat currency. Until the markets...Production of Illusions by Means of Illusions: Aristotle Confronts Volatility
We are coming to a juncture in the markets where we need to decide if the means of illusions used can produce any real lasting effects. The truth of the matter is that in a world fascinated with superficial results, few are those those who argue for fundamental...Sign Up for Our Publications
