By: Bill Bonner & The Daily Reckoning Crew - 2 June, 2006
-What kind of bargain will gold be today?...a look back at the "Japanese Miracle" and the birth of the Great Speculative Nation... -Will Paulson make a difference?...still waiting for home prices to fall... -Luck of the draw...we can resist almost anything - except temptation...and more! Full Story
It would be more comforting if the Bank for International Settlements, the International Monetary Fund or the Federal Reserve Bank of New York had a better handle on all this. Who really knows how many purchases of Shanghai properties, Google Inc. shares, Zambian treasury bills, bars of gold or derivatives are related to yen borrowings? Full Story
By: Peter Schiff, Euro Pacific Capital, Inc. - 2 June, 2006
In today’s style over substance economy, the job of Treasury Secretary has devolved into a pitch man for the government’s economic disinformation campaign. To qualify, an aspiring Secretary must have the credibility and rhetorical skill to simultaneously instill enough confidence in America’s creditors for them to keep lending, and in American consumers, to encourage them to keep borrowing and spending. It should be obvious to all that the very idea that the U.S. economy needs a spokesman indicates just how weak it really is. If our economy really were sound, it would speak for itself. It would not need a professional promoter to talk it up. Full Story
By: Dr. Kurt Richebächer & The Daily Reckoning Crew - 1 June, 2006
-The metal with a university degree seems to have its signals crossed...what's spooking central bankers? -The Daily Reckoning is chockfull of acronyms today...ZIRP, CBCPI - oh, the Mighty Mogambo will be so proud... -Watch out - there's a new money-spinner in town... the Empire of Debt goes global...our very own intellectual midget...and more... Full Story
By: Dudley Baker and Lorimer Wilson - 1 June, 2006
Together we have compiled a remarkable summary of the ominous warnings, dire predictions and perceived devastating consequences that the vast majority of economists, financial analysts, economic research firms and financial commentators are saying about our current economic situation and what is most likely to unfold in the months and years ahead. It is a must read to more clearly understand and appreciate the financial state of the union, the impact it will likely have on various investments, and how better to allocate ones assets. Full Story
The Rick’s Picks switchboard lit up like a string of Black Cats yesterday as alarmed readers responded to my wake-up call ahead of America’s impending real estate crash. The sole skeptic has been Frank P, a useful idiot whose thoughts served as counterpoint to the discussion we had on the topic yesterday. Turns out I’m not the only one Frank has been pestering with his odd ideas, including the surreal notion that there is no housing bubble. Full Story
Trading Wizards: Bob Chapman, Gary Kaltbaum and Jack Chan return to explain the current weakness in precious metals and the stock market as well as their market forecasts. Full Story
By: Dr. Marc Faber & The Daily Reckoning Crew - 31 May, 2006
-Old geezers have an advantage: they have been around long enough to know better...experience is the key... -Are young whipper-flippers still making money?...will the grumpy contrarians finally be proven right? -The Indianapolis brain drain...wannabe capitalists...and more! Full Story
By: David N. Vaughn, Gold Letter, Inc. - 31 May, 2006
This day is coming folks. The dollar is going to continue to deteriorate and a day of severe reckoning is coming. We told you so and we believe this event is occurring even now as we speak and will only continue to snowball as time progresses. And these are the reasons this gold bull market has not even begun yet. Full Story
By: Richard Daughty, The MOGAMBO GURU - 31 May, 2006
I was rudely and abruptly awakened by alarm bells ringing. I reflexively shot off an entire clip of expensive ammunition into the darkness before I realized it was not the Mogambo Homicidal Wife Detector (MHWD) that was ringing, but the Mogambo Economic Seismograph (MES). Full Story
What would the gold price be if we could replace all the existing notes and coins in the world with gold? Not such a long time ago paper receipts for gold in storage were used as currency, and people would trade these receipts because it was more convenient than carrying around a lot of gold. Over time, those who held the gold and issued the receipts noticed that physical gold was seldom claimed even thought the receipts changed hands several times. The temptation to issue more receipts than the gold in storage became too large to resist, and fractional banking was invented. This allowed the issuers to charge interest and increase the amount of currency in circulation. Full Story
By: Dan Denning & The Daily Reckoning Crew - 30 May, 2006
-The dollar is doomed to trade for the price of scrap paper...the Law of Limp... -Flying into temptation - and then hobbling back to sanity...the ball and chain of private debt... -One dedicated reader chases down a bus in Northern Virginia for us...why isn't the Home Depot CEO back on paint mixing detail?...and more! Full Story
By: The Mogambo Guru & The Daily Reckoning Crew - 30 May, 2006
-Showing support for our favorite home team: the federal government...connecting the dots can sometimes take you further than you thought... -Taking strides toward self-destruction - and dragging the defective leg of prudence behind...bankers aren't robots? -Incremental degradation...taxation with representation turned out to be worse than the other kind...and more! Full Story
By: Bob Chapman, The International Forecaster - 28 May, 2006
Gold and silver have risen for a number of reasons, but one that is little talked about is that historically, and especially in times of war, governments have escaped from fiscal over-commitments by letting their currencies depreciate. Ambitious spending initiatives, threats of international conflict and even Washington’s political unpopularity, all contribute to the fear that this is happening again now. Once the dollar slides it takes at least a couple of years to rebuild confidence in it and in the meantime gold rises as the only real currency that people have faith in. Full Story
By: John Mauldin, Millenium Wave Advisors - 28 May, 2006
Can you have too much of a good thing? And specifically, can targeting low inflation and stable prices create problems that are even larger than the ones a stable price policy is trying to avoid? Today we look at a very interesting set of ideas proposed by one William R. White of the Monetary and Economic Department of the Bank of International Settlements (BIS). The BIS can be understood to be a kind of a central banker's central bank. So when they talk about appropriate central bank policy, those of us much lower on the food chain should pay attention. Full Story
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