Quantitative Easing in Disguise?

The Fed is headed for an annual operating loss for the first time in 108 years. They will soon be forced to print the money to cover their expenses. A conundrum, indeed!

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Gold Rallies! Can it Last?

The Fed can fix monetary policy, but cannot fix deglobalization, public debt, or fiscal spending. They can’t fix the reasons we own gold.

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The Global Empire of Risk

Should the Fed pay attention to the IMF’s warnings about global financial risks and deteriorating market conditions? Probably, but more red-hot inflation data means their hands are tied.

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History of Hard Money: Japan’s Lost Decade

Throughout the 1980s, Japan’s economy soared past the rest of the world. The growth that once earned the envy of investors and economists now stands as a dire warning against debt, speculation, and easy money.

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