Let us look at some awful analysis of gold, courtesy of Wells Fargo Bank. Perhaps channelling their inner Michael Pascoe, the bank’s analysts told clients, “Interest in gold investing has reached the level of a speculative bubble.” Having thus be-clowned themselves, they went on to elaborate: gold prices are volatile, gold ...read more

The issue with the recent robo-signing scandal is that clear title could disappear in the American mortgage market. Part of the outrage is that U.S. banks have been foreclosing on mortgages which they don’t even own. Part of the reality is that the convoluted process of securitisation means banks may ...read more

If Henry David Thoreau was right when he wrote, “That government is best which governs least,” then Australia got itself the best government in the world on Saturday. Of course technically speaking, Australia didn’t elect a government. And that government which is not a government cannot govern at all. Thus, “not ...read more

If Goldman Sachs is publicly bullish on gold, is that a good thing or bad thing for gold bulls? Wall Street's notorious trading house published a report on gold last week setting a price target of US$1,300 in the next six months. The report cited several factors. But before we get ...read more

When we have a look at markets today, well...it's depressing. Day after day we all have to put up with the fraud of serious looking men and women in suits making a complete mockery of common sense, reason, and good judgement. As exhibit A in the case ...read more

There is a place in life for expert opinion. If a doctor tells us our heart is going to quit because we’re drinking too much beer and not exercising enough, we listen to him. If a physicist tells us that jumping from high places without a parachute could be bad ...read more

“You know,” a friend said to us the other night over a drink, “sometimes you come off like a know-it-all smart arse. It’s one thing for you to tell the Chinese they’re doing it all wrong and predict a crash. But you’re bagging out our Prime Minister and you’re not ...read more

Monday was the day the world’s capital markets turned into a giant fiat money casino. Consider yourself warned. You can trade your way to profits this in this market on the tide of easy money being printed now by the Federal Reserve and the European Central Bank. But the financial ...read more

The simple matter is that many nations have been living beyond their means and investors are beginning to doubt governments are good credit risks. That’s saying something, when governments can simply confiscate from the public the money needed to pay bond holders. But debt-to-GDP levels are now so high across ...read more

We’re going to paint with a broad brush and say most well-meaning government interventions in public and private life are designed to promote equality of outcome, social justice, or reduce the seeming unfairness and volatility of life in market economy. But have you ever wondered if, in the earnest attempt to ...read more