In the last few days Greece and Cyprus occupied the headlines again in newspapers like The Wall Street Journal, the New York Times, and the Financial Times. I apologize for […]

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 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 […]

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 […]

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 […]

This year marks the 100th anniversary of Kierkegaard’s birth. The father of existentialism had a clear target, to show that Hegel’s attempt to systematize all reality was an exercise in […]

It has been a week now since the Japanese markets have been exhibiting significant volatility. What we have been observing is that both equities and bonds show signs of turmoil. […]

Late last year I wrote that we anticipate precious metals to suffer losses in 2013. We would not be surprised if this lasts more than a year. In one of […]

Could it be that the over-collateralization and re-hypothecation of paper assets via the derivatives avenue has created a huge hole in the financial system that the monetary authorities are called […]

A few days ago Jose Manuel Barroso (President of the European Commission) declared that austerity has its limits. The Eureka moment which says that you cannot add by subtracting finally […]

I do not think that we would have had a hard time if we desired to find alarming market signals. However, the message from the markets seems to be a […]