What almost everyone calls “inflation” is really a rise in the general price level. OK. But the real definition of “inflation” is inflation of the money supply. A rise in the general price level is [more…]
Over the last couple of years we witnessed quite an extraordinary ride in gold prices. An impressive ascent until the last quarter of 2020 was followed by a pullback that scared many speculators away, which [more…]
As regular non-readers of the comments will know, I spent a large part of 2020 (and some of 2019) looking for a job. Looking back at my spreadsheet I made approaching 60 applications, albeit quite [more…]
Claudio Grass (CG): Taken together, the moves by Russia and China, especially on the monetary front, with their plans of a gold-backed digital currency, appear to pose a direct challenge to the status quo and [more…]
In Scotland and Lancashire they had (maybe they still do have) Wakes Week, a time when factories, mines and the like closed for 7 days to allow people to go to Blackpool, get pissed and [more…]
In Lewis Carroll’s “Through the Looking-Glass” Humpty Dumpty tells Alice: “When I use a word it means just what I choose it to mean—neither more nor less.” Humpty’s subjective approach to verbal meanings is of [more…]
As my friends and clients know very well, but also anyone who has read any of my writings before, I always held that understanding history and geopolitics is one of the most important elements of [more…]
It is often said by “our guys” that the Eastern Europeans are resistant to many of the problems Western Europe and other US vassal states currently experience because of their history of communism, the suggestion [more…]
Any catalogue of economic legends would of course include the 2008 visit of Queen Elizabeth to the London School of Economics, when the country was experiencing an unprecedented housing market bubble based on the irrational [more…]
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