- the source for market opinions


September 18, 2020 | America Can Expect More COVID-19 Stimulus Money

SAN MARTIN, ARGENTINA – First, we check in on the economy… Here’s CNBC: Yelp on Wednesday released its latest Economic Impact Report, revealing business closures across the U.S. are increasing as a result of the coronavirus pandemic’s economic toll. As of Aug. 31, 163,735 businesses have indicated on Yelp that they have closed. That’s down […]

September 2, 2020 | The Drop in U.S. Dollar Value Could Signal Lengthy Recovery

SAN MARTIN, ARGENTINA – We wrote about the Democratic National Convention on Monday. Silence… Yesterday, we wrote about the Republican confab… and sent it off at precisely 30 minutes past midday, Eastern Time. Shortly thereafter, the artillery opened up… with dear readers blasting us for criticizing Mr. Trump and his party. We’ve been taking “incoming” ever since. Tomorrow… […]

August 28, 2020 | What 2020 Has Taught Us

SAN MARTIN, ARGENTINA – Unbelievably, August is almost over. Summer has all but adjourned. The leaves are turning and the gavel is coming down. And what have we learned? What is the verdict? It doesn’t matter whether you lock down or not. A face mask probably doesn’t help. Americans are easily panicked. They readily tyrannize […]

August 7, 2020 | Filling the Gaps in America’s Economy

There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner, as the result of a voluntary abandonment of further credit expansion, or later, as a final and total catastrophe of the currency system involved. – Economist Ludwig von […]

August 6, 2020 | Where Does the Government’s Money Come From?

SAN MARTIN, ARGENTINA – Can you solve this philosopher’s conundrum… or answer this child’s riddle? What is something and nothing at the same time? If you’ve been paying attention this week, Dear Reader, you already know the answer: It’s the feds’ transfer payments. Trouble Aboard A “transfer” must have a “to” and a “from.” But […]

August 5, 2020 | The Federal Reserve Is Supporting the Market

Were we directed from Washington when to sow and when to reap, we should soon want bread. – Thomas Jefferson SAN MARTIN, ARGENTINA – Yesterday, we were looking at “transfer” payments. Today, we look closer. What exactly are we talking about? Our developing hypothesis is that the furious money-shoveling in the last quarter was not […]

July 1, 2020 | Fake Money, Greedy Elites Hide Real Problems

Week 16 of the Quarantine Every record has been destroyed or falsified, every book rewritten, every picture has been repainted, every statue and street building has been renamed, every date has been altered. And the process is continuing day by day, minute by minute. History has stopped. Nothing exists except an endless present in which […]

June 25, 2020 | Today’s Market Discounts Financial Integrity

That is no market for old men. The young with their Robinhood accounts. Money growing on trees. Those dying generations – left behind. – With apologies to poet William Butler Yeats SALTA CITY, ARGENTINA – Poor Warren Buffett. At 89 years of age, he can’t keep up. Out of sync with the markets. A relic […]

June 5, 2020 | America Has Two Financial Systems, and They’re Both Flawed

SAN MARTIN, ARGENTINA – “One country, two systems,” says colleague Byron King. The phrase was used in the 1980s by Deng Xiaoping to describe China’s special relationship with Hong Kong and Macau. Now, says Byron, it points to a dangerous fault line in America. There are two systems. One is a fraud… and the other […]

May 31, 2020 | COVID-19 Stimulus Packages Take Away Post-Lockdown Job Incentives

SAN MARTIN, ARGENTINA – Amid the many errors and scams perpetrated by Powell, Mnuchin, Trump, Pelosi, McConnell, et al., one stands out. In their Bail Out Everything Act, aka CARES, like a neighborhood loan shark, they sent out the message: “Need cash? Come and see us.” Dear Reader, you already know the story to date. […]

May 30, 2020 | Argentina’s Past Provides Clues for America’s Future

SAN MARTIN, ARGENTINA – Yesterday, we saw how the feds are in the process of cronifying the American working class… by bribing the great mass of “average” voters who decide elections. And here’s the latest from The Washington Post: To help speed the delivery of up to $1,200 in economic impact payments to individuals made available under […]

May 15, 2020 | American Debt Is Exploding With Coronavirus Stimulus

SAN MARTIN, ARGENTINA – “If it bleeds, it leads,” say the old newspaper guys. Horrors and hobgoblins get the mob’s attention. Threats sell papers. And elect politicians. And elevate functionaries – Anthony Fauci, Jay Powell, etc. – to Elvis status. Lurid headlines tell us that a child has been struck down by a rare ailment… […]

April 3, 2020 | Coronavirus Lockdown Saves, Damages Lives

“Our economy is the greatest it has ever been.” – Donald Trump, January 20, 2020 “Bloomberg Economics sees global growth slowing to 1.5% year on year.” – Bloomberg, February 9, 2020 “There is no systemic risk. No one is even talking about that.” – Goldman Sachs conference call, mid-March, reported by Marc Faber SAN MARTIN, […]

March 23, 2020 | Panicked Coronavirus Response Show Stark Contrast to 1919 Flu Outbreak

And I looked, and behold, a pale horse! And its rider’s name was Death, and Hell followed him. And they were given authority over a fourth of the earth, to kill with sword and with famine and with pestilence and by wild beasts of the earth. – Revelation 6:8 SAN MARTIN, ARGENTINA – This morning… […]

March 16, 2020 | Federal Reserve Announces Near-Zero Rate Cut In Effort to Curb Coronavirus Effects

SAN MARTIN, ARGENTINA – Hunker down. Keep your distance. Sit tight. Hit the pause button. We will return to the money world tomorrow. But, in short, it is evolving as expected. The bubble has developed a big hole. The feds are trying to plug it with fake money. Here is the latest from the Wall Street […]

February 25, 2020 | Coronavirus Continues to Show Weaknesses in the Global Economy

RANCHO SANTANA, NICARAGUA – Yesterday, we watched the screen. The Dow was down 850 points at 11 a.m. By noon, it had lost another 50 points. By 1 p.m., it was down 1,000 points. Now it was getting people’s attention. By the close of the trading day, the market sell-off had become mainstream news. CNBC: […]

January 31, 2020 | Coronavirus Pandemic Sparks Fear in the World Economy

DENVER, COLORADO – Golden, Colorado is home to two important institutions: the Coors Brewery… and the Colorado School of Mines. One of our sons is here enjoying both of them; we came to see him yesterday. Golden in the morning Three of the passengers on the plane, one Chinese, two American, were wearing face masks. […]

January 23, 2020 | The Long and Winding Road to Bankruptcy

BALTIMORE, MARYLAND – What next? CNBC: Stocks ended lower Tuesday after the Centers for Disease Control told Reuters that a traveler from China was diagnosed with the first U.S. case of coronavirus, in Seattle. The Dow closed down 152 points after falling as much as 200 points. The S&P 500 shed nearly 0.3%, while the […]

January 10, 2020 | We Need to Decipher Who Our Real Enemies Are

BALTIMORE, MARYLAND – The Dow hit 29,000 this morning. Wow! The president tweeted yesterday: We don’t know what we’re doing wrong… but we’re going to sign up for a 409K… whatever that is. The Trump Pattern What a market! And this was just after President Trump showed how easy it would be to cause a […]

November 29, 2019 | Central Banks Create Money out of Nowhere

BALTIMORE, MARYLAND – Last week, while all eyes were on the impeachment show, the feds increased the nation’s debt by about $20 billion. Who will pay it? When? How? No one asked. During the British election of 2017, Theresa May famously said “there is no magic money tree.” But both the Federal Reserve and the […]

November 8, 2019 | Our Doom Index Hasn’t Been This High Since 2008

It doesn’t matter whether it comes in one year or four. If you don’t start preparing now, you will maybe do better while the economy continues to do okay, but whatever gain you get from that will be overwhelmed by problems with your investments in the downturn. – Jeffrey Gundlach YOUGHAL, IRELAND – “Big news […]

October 25, 2019 | Our Financial Situation Could Always Be Worse

YOUGHAL, IRELAND – Yahoo Finance reports: Elizabeth Warren has a plan for everything. Some of those plans are expensive. With Warren emerging as a front-runner in the Democratic presidential contest, Yahoo Finance tallied the cost of her plans. Altogether, the Massachusetts senator’s agenda would require $4.2 trillion per year in new federal spending, and a […]

October 18, 2019 | The Feds Interfere in Markets and Multiply Corruption Opportunities

YOUGHAL, IRELAND – The fix is in. President Trump has surrounded himself with grifters, hustlers, and opportunists – Rudy Giuliani, Peter Navarro, Wilbur Ross, et al. One of them was bound to notice. Trump’s tweets regularly send the stock market hundreds of points in one direction or another. Surely there was a way to trade […]

September 19, 2019 | Democracy Doomed the Money System

YOUGHAL, IRELAND – Yesterday, the Federal Reserve did as expected, cutting its key lending rate by another 25 basis points (0.25%). This was not what the president was hoping for. Yahoo Finance: President Donald Trump on Wednesday harshly rebuked the Federal Reserve, accusing the central bank and Fed Chair Jerome Powell of having no “guts” […]

September 14, 2019 | All Major Economies Are Caught in an Inflate-or-Die Trap

YOUGHAL, IRELAND – We’re exploring the old adage: What goes around comes around. And what we see coming around almost everywhere is inflation. We make haste to explain that we’re not talking about common consumer price inflation, but about inflation of the money supply, which could show up almost anywhere. More Fake Money In the […]

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