Societies evolve. Things change. Elites compete for power… and use it to move wealth in their direction. Gold is money. Everything else is credit. J. P. Morgan Here’s good news for dear, long-suffering readers. We didn’t ‘miss out’ on anything. The Wall Street Journal has the story: Gold Ascends to New Record High Front-month Comex […]
By Bill Bonner,
Nine tenths of government is always a scam, pretending to make people better off while actually controlling and exploiting them. But bad government seems to have gotten worse. You go out to western Maryland, or if you go out to West Virginia, or if you keep going and you go to a small town in […]
By Bill Bonner,
Everyone with any brains at all must be able to see that the costs always end up on the least expert, least informed, least protected group in the country — the public. “Keep your eye on one thing and one thing only: how much the Government is spending, because that is the true tax.” […]
By Bill Bonner,
Remembrance of things past is not necessarily the remembrance of things as they were. — Marcel Proust “They said I was retarded” reported a nephew. He had been sent to a nearby bakery to get bread. He must have arrived just as the place was closing. So they told him he was late — ‘retardé’… […]
By Bill Bonner,
First, it appears that Warren Buffett is doing the same thing we are — moving to Maximum Safety Mode. Charlie Bilello: Berkshire’s Cash Pile spiked to a new all-time high of $277 billion, increasing by a record $88 billion during the 2nd quarter. $75 billion of that came from stock sales with Berkshire selling nearly […]
By Bill Bonner,
Problem solving – by government — is a problem in itself. It adds costs and complexity… creating more problems to solve… and ultimately dooming a society to failure. Source: Getty Images Exploitation is a normal cost of stratification… bad government is a normal cost of government… Joseph Tainter Imagine your joy! Your chest swells with pride, just before the […]
By Bill Bonner,
“As resources committed to benefits decline, resources committed to control must increase.” Joseph Tainter We’re trying to get to the bottom of it. Why do so many policy decisions turn out to be mistakes? Why are the mistakes not random, but always erring in one direction? And what can we expect next? To frame the […]
By Bill Bonner,
Тhey [Romans] were forced to debase the currency. Debasing the currency for them was the same as borrowing is for us. It basically shifts the cost of solving your problems on to the future. Now, you can do that if the future doesn’t have any problems of its own. And we know that never happens, […]
By Bill Bonner,
Today, we leave the frauds and foolishness of politics and economics… in order to give you an update on what has been happening here, in our little corner of France. When we first came to France, we had six children… a tutor… and one elderly mother and an aunt. This big, old house looked perfect. […]
By Bill Bonner,
Not to worry! The standard, accepted, certified correct view of the stock market is that it always goes up ‘over the long term’. Based on figures from the S&P 500, investors have come to expect a total return of 10% per year. And the ‘price’ of getting these long-term gains, according to the sales pitch, […]
By Bill Bonner,
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