The Glory of Gold
A gamble is just a gamble; it could go either way. And who wants to bet against gold? It was the star performer for the last 26 years…and the most reliable performer since the Flood
Commentary
Coming in Hot
At the present rate, the war would add about a half a trillion to the US deficit this year. If it goes on as long as the war in Afghanistan, it will add $10 trillion to the debt.
Real Money Terms
Real output is already very cheap in gold terms. Instead, the most likely correction will take place in the stock market itself, either because the dollar sinks or because stocks sink…or both.
The Fuse is Lit
We’ve seen what a sharp, sudden spike in interest rates (the availability of credit) does; businesses tighten up, employees are let go, spending goes down and GDP rates go from positive to negative.
War at the Improv
We will soon get to see what effect a sudden uptick in oil prices will actually have. Will it send modern economies into recession? And when investors see it depressing corporate earnings?
Courting Disaster
The most remarkable thing about the bombing of Iran is the premise behind it. We’ll come back to that in a minute.
