The Case for Gold

The establishment argument against gold comes down to the statement that it is a collectable that earns no yield. Art, rare coins, stamps and gold and silver bullion do not earn a yield. Stocks, bonds and real estate earn yields, so the prudent investor should focus...

Charting Silver

Right now commodities are where the action is in the financial markets. And the precious metals are where the action is in the commodities market. And silver is where the action is (for the time being) in the precious metals markets. Silver can be described as...

The Political Economy

The science which today is called economics was originally called political economy, meaning that it was a combination of politics and economics. This has always seemed a little strange to me. Economics is the science of creating wealth. We cannot say that politics is...

Keynesian Economics

Friday’s Wall Street Journal was full of “optimistic” news for the U.S. economy. It reported: “Retailers’ reports of robust November sales offered more evidence that the lackluster U.S. economy may finally be gaining momentum, despite stubbornly high...

The Art of Speculation

The rally in the dollar over the past few weeks serves as a good illustration of what it takes to be a good speculator. I can remember when I was new to the art of speculation. It was the early 1970s, and Richard Nixon, unilaterally and illegally, abolished the U.S....