• The World Bank is not even trying to hide it.   Why are global central banks buying gold in 2024?  Why are central banks an important force in driving gold to all-time highs?   We have called central bank de-dollarization and gold-buying one of the most important megatrends of our time.  Now a new World Bank publication spells out why this is happening, and it does so in a candid way that makes a powerful case for individuals to protect their wealth with gold. The Gold Investing Handbook for Asset Managers was authored by Kamol Alimukhamedov, Deputy Managing Director of the Central Bank of Uzbekistan.  From the introduction: In recent years, gold has regained its importance as a financial asset, with many investors using it as a hedge against inflation and market volatility. In addition, central banks and other financial institutions continue to hold significant amounts of gold as part of their reserve assets. The role of gold as a reserve […]

  • Gold is going through the roof this April because the already unpayable US debt is also going through the roof! After all, if there is no hope for US debt at $34 trillion today, how about when it reaches $141 trillion in 2054?  And that is where the Congressional Budget Office says we are headed! $141 trillion is a lot of money!  How does a national government even begin to pay the interest on a debt that big?  You know the answer:  money printing! Former Federal Reserve Chairman Ben Bernanke was both candid and shameless about it just a few years ago:  “The US government has a technology, called a printing press, that allows it to produce as many dollars as it wishes at essentially no cost.”   From 2024 to 2054 the annual deficits will average 6.7 percent of GDP.  That is almost double their average over the last half-century! By 2054 the deficit will hit 8.5 percent of […]

  • Here’s a story we have told before, but with gold hitting so many all-time highs lately, it is one that deserves to be told again. It’s Washington’s paper money counterfeiting scheme! It begins with a serious economic crisis that is fast approaching.  Here’s a snippet from Fred Hickey (The High Tech Strategist) from April 2, 2024.  It raises alarms as it highlights just how fast things are spinning out of control.  In just the last 20 days, he writes, US government debt increased by $168 billion.  That is equal to the entire US deficit in 2002!   This unrelenting gusher of red ink ensures that something like a “Crack-Up Boom” is fast approaching today.   That is the name the great free-market economist Ludwig von Mises coined to describe the last stage of a currency breakdown:  The Crack-Up Boom.  In German, it is “Katastrophenhausse,” a catastrophe boom. Because we think our friends and clients will need to know very soon, from […]

  • Why is gold setting new records?   It’s a gold and silver bull market for all the reasons we’ve been saying.  As we write this, spot gold is about $2,400, while Spot silver is closing in on $29.00 per ounce.  Why are precious metals so strong, especially in a rising interest rate environment? Because other countries are fed up with dollar inflation. US debt has gone stratospheric, and the swamp creatures don’t care. Their cronies are stealing everything, and Washington wars are making us poorer. Just a decade ago foreign investors and foreign central banks owned about 43 percent of all outstanding US government debt.  That has now fallen to about 30 percent.   Washington has given no sign that it is going to do anything about soaring US debt.  On the contrary, its spending continues to grow ever more reckless. Some of that spending is driven by forces out of the hands of Capitol Hill.  Rising interest rates are hitting hard.  […]

  • Washington is squirting red ink out from every pore.  The budget year is half over, finishing with a deficit of more than a trillion dollars.   This will end badly. We have been sounding an alarm in these posts about US debt and the fear that it would get away from us.  A few recent examples: Another Ominous U.S. Financial Update Time to Take a Look at the U.S. Fiscal Situation! Uncle Sam’s Credit Score Keeps Falling We believe the price of gold is confirming that Washington’s debt is every bit as bad as we have said. Our opinions don’t have the force of law, but to us the US national debt is a matter of criminal negligence.  Washington has been indifferent to the debt as it grew, and now it is too late:  the national debt has gotten away from us! From the Wall Street Journal:  The Congressional Budget Office reported Monday that the federal budget deficit for the […]

  • Lew Rockwell Says “Let’s Do Everything we can to end the Fed…” “The power to create money is the most ominous power ever bestowed on any human being. This power is rightly criminalized when it is exercised by private individuals, and even today, everyone knows why counterfeiting is wrong and knavish. Far fewer are aware of the role of the federal government, the Fed, and the fiat dollar in making possible the largest counterfeiting operation in human history, which is called the world dollar standard. Fewer still understand the connection between this officially sanctioned criminality and the business cycle, the rise and collapse of the stock market, and the continued erosion of the value of the dollar.” Those are the words of one of the most important champions of sound money in this age.   Lew Rockwell has been extraordinarily effective in the fight, on the front lines of the battle, and always in key positions.  He was a former […]

  • Surging industrial demand for silver has driven estimates for 2024 total demand to the second-highest level ever. The latest forecast from the Silver Institute, a trade association, calls for global silver demand this year to total 1.2 billion ounces.  That would rival 2022’s chart-topping demand of 1.242 billion ounces and represents an overall increase in demand of 1 percent. Industrial end users of silver are expected to lead demand with an overall jump of 4 percent, 690 million ounces, outshining last year’s record high industrial demand.  Key drivers of industrial demand continue to be photovoltaics (solar) and automotive users.   The study also calls for a recovery in consumer electronics to provide additional demand and says Artificial Intelligence applications have consumer electronics brands expected to introduce new silver-using products. Silver should reach $30 an ounce, a ten-year high this year according to Michael DiRienzo, executive director of the Silver Institute.  “We think silver will have a terrific year, especially in […]

  • It was not quite a year ago that banks started tumbling down.  You remember the names:  Silicon Valley Bank, Signature Bank, and First Republic, all American banks.  But it wasn’t just an American problem as the presence of Swiss banking giant Credit Suisse and Deutsche Bank on the troubled list attested. Rising interest rates were tanking the banks’ holdings of US Treasury debt instruments and mortgage-backed securities.  Many Americans – although not most – made withdrawals from their banks.  It was only prudent.  Why keep your money parked in troubled institutions?  It’s your money.  Protect it! Even though the Fed’s balance sheet is upside down (that’s another story!), the central bank rode to the rescue with another Big Bank Bailout Bonanza.  Don’t be surprised.  The Fed was created by the Big Banks in the first place to do Bailout Bonanza whenever Big Banks needed them. The Fed said, “Even though as a matter of law, accounts at Big Banks are […]

  • Their financial situation is worse than alarming! “Twitching like a fingerOn the trigger of a gun.” -Paul Simon Uh oh!  China is making things feel twitchy! We are always on the alert for the most likely trigger of the coming economic calamity.  The thing that ends the made-up, manipulated money system and remonetizes honest money.  There are many candidates today.  War.  US banks.  Bidenomics.  A debt crisis.  A Fed screwup.   But if we had to guess, it looks like China. We are very concerned that this could be the one.  The block in the Jenga tower that makes the whole thing tumble.  The straw… There is generally a trigger, a single event that sets the whole house of cards collapsing.  It was the failure of Creditanstalt 1931, Austria’s largest bank, that was the first major bank collapse of the Great Depression. Today it looks like China.   For some background, please review our recent article China’s Coming Collapse. Kyle […]

  • First the NY Times!  Now Chase Bank? If you aren’t panicking about the US debt picture, you may not be paying attention! Now even the most establishment of establishment figures are starting to show signs of panic, Including the most establishment banker of America’s most established bank. Jamie Dimon is the chairman and chief executive officer of JPMorgan Chase, the largest bank in the US.  They like him a lot.  He’s been in that role since 2005, a job that has made him a billionaire.   Maybe Dimon isn’t panicked, but he sure is worried that we are at the brink. “It is a cliff. We see the cliff. It’s about 10 years out.” The US national debt is currently more than $34 trillion.  Throughout its history, US debt has averaged 30 percent of total US economic output. Today, it is 123 percent, more than four times the average. It is more than the entire annual productivity of China, Japan, […]