Bitcoin’s returns over the last decade have dominated every other asset we can compare it with, but that still doesn’t tell us what we need to know about the future viability of this extraordinary development in human monetary affairs.

The Fed has been successful in fooling the markets regarding the temporary nature of zero-percent interest rates, the efficacy of QE, and its ability to normalize rates and shrink its balance sheet.

Our modern civilization is on a trajectory that will lead to a very dark place. History provides examples of what can happen. We refer to the period 1929-1945, and course to 476AD. If the monetary system is not changed, 476AD is where we will end. The raison d’etre of Monetary Metals is to try to… Read More »Directive 10-289: A Chilling Directive

While the willingness to abandon long held beliefs for political gain has always been a common trait among public figures, the spectacle has recently taken on shocking levels of casual audacity. The contempt for even minimal levels of intellectual consistency has allowed Kamala Harris to condemn Joe Biden for his past opposition to Federally mandated… Read More »Laffer Gets Laughable

The biggest danger facing the American economy is not financial or monetary, but political. If we are currently entering a recession that proves to be even more severe than the last, which I believe we are, Donald Trump and the Republican Party will take the blame.

There are simple and clear fiscal benefits to a government that issues a gold bond.

With his announcement last week of broad tariffs on imported steel and aluminum, President Trump launched what could be the first salvo of an all-out global trade war. Seemingly itching for a fight, he gleefully tweeted that “Trade wars are good, and easy to win.” It seems like Trump thinks the conflict will play out… Read More »Trump Plays with Fire on Trade

While investors are justifiably focused on what may be the opening crescendo of a long overdue sell-off in stocks, there is not, as of yet, as feverish a discussion of the parallel sell-offs in bonds and the U.S. dollar, which have been underway for at least a year and a half in bonds and 14… Read More »Raising Rates Reflect Bigger Debt Not Faster Growth

After supposedly chomping on the bit for years to pass meaningful tax reform, Republicans are now set to blow an historic opportunity. Whatever version of the Bill that emerges from the House and Senate Conference Committee (which will be signed by President Trump faster than he can down a Filet o’Fish), will be far less… Read More »Fake Tax Reform