At this point, I’d like to refer you to a post I wrote on June 19th, entitled Will Riots In Athens Make Vancouver Look Like A Picnic.

From the current news:

The Globe and Mail: Amid flames, Greek parliament approves crucial austerity bill.

Reuters: Athens mayhem raises fears of Greek social explosion.

Bloomberg: Rioters Burn Buildings as Greek Parliament Votes on Cuts.

I wish I had more time to write today.

Canadians will have three options: Raise taxes, cut programs or increase debt.

Odd as it sounds, I saw this headline buried on page B2 of a copy of the Vancouver Sun¹ that I picked up somewhere. Odd because the newspaper isn’t exactly the media that I generally consume my news from. Continue Reading…

I read the The Coming Collapse of the Dollar and How to Profit from It back in 2008 shortly after it was released. It was a follow-up to a similarly named book also written by John Rubino and James Turk¹ that was published in 2004. It was one of many of books I picked up and devoured back when silver first piqued my interest in late 2007. Continue Reading…

If you needed any additional confirmation that Mr. Bernanke and other U.S. finance policy makers are driving their country’s economy off a cliff at 300 kilometres per hour, I give you the German Finance Minister Wolfgang Schaeuble:

“With all due respect, U.S. policy is clueless,” Schaeuble said. “(The problem) is not a shortage of liquidity. It’s not that the Americans haven’t pumped enough liquidity into the market.”

This is quoted from an article by CNBC regarding the Federal Reserve’s recent asset-buying.

These quotes (and my ‘translations’) are from U.S. plan hits opposition at G20 at Reuters. Continue Reading…

I’ll admit it. Most of the time, when I start talking about economics, debt, the Federal Reserve, I get a lot of blank looks. Especially because I’m Canadian. There are a lot of the “Why do you care” looks, a lot of the “Please shut up” looks, and a lot of the “You’re going to put me to sleep, because this is so boring” looks. A lot of Canadians also think that somehow none of it matters to us (mind you, I’d also venture to say that most Americans don’t think it matters to them, either). Continue Reading…

If that’s you, you should read the latest article from the National Inflation Association. You’re going to get your wish (just probably not in the way you were hoping)!

Inflation to Make All Americans Billionaires By 2020

Even though most people don’t care, I find the historical analysis of gold prices relative to increasing salaries extremely fascinating. For example:

Gold was only $35 per ounce in 1970, but rose to a high in 1980 of $850 per ounce for a gain of 2,329%. One year of income in 1970 would have bought 282 ounces of gold, but one year of income in 1980 would have only bought 25 ounces of gold. Priced in gold, families saw their real incomes decline during the 1970s by 91%.

Read the full article from the National Inflation Association.

Listening to Ben Davies (of Hinde Capital Management) on King World News, and transcribed this interesting tidbit:

Unfortunately, what people fail to realize today is that the world is really just one big version of Zimbabwe.

Zimbabwe was a microcosm of what we have now. If you notice, every country, almost bar none, has debts that they are unable to repay. And I don’t think people understand that.

The consequences of which we either restructure them, or we have an implicit default which… in our opinion, involves reflation. And as we can see, every government, every country, is embarking on the creation of currency, to devalue their currency…

Savers should stop complaining about poor returns and start spending to help the economy, a senior Bank of England official warned today.

via telegraph.co.uk

Just in case you didn’t already think that the world’s bankers have completely lost their minds.

Today’s corporate profits reflect an income shift into 2010. These profits will tumble next year, preceded most likely by the stock market.

via online.wsj.com