Posts Tagged ‘ derivatives ’

Gold Will No Longer Be a Toxic Derivative to Central Banks

Aug 18th, 2009 | By | Category: Featured, Gold
"If gold is 'past its day', what of toxic derivatives and today's deluge of US Treasury bonds...?" Just like poor Pip Dickens' Great Expectations, central banks keep inheriting unwelcome bequests. Today's "legacy assets" are toxic derivatives; a decade ago it was gold reserves. Both are proving hard to shrug off, but for ...read more

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Posted in Featured, Gold | 4 comments


Bankruptcy, Not Bailouts

Nov 19th, 2008 | By | Category: Economics, Featured
I was looking through my pocket-copy of the U.S. Constitution for the “Bailout Clause.” I must have missed it. If any readers out there can find the Bailout Clause, please send me a note and let me know where it is. There is, however, a “Bankruptcy Clause” in the ...read more

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Posted in Economics, Featured | No Comments »


Greenspan’s Housing Bubble

Jan 21st, 2008 | By | Category: Macro Economics
THE CONFIRMATION HEARING OF ALAN GREENSPAN has been the focus of some of my past pieces. With that hearing still in sight, this time, the prophetic warnings of Sen. William Proxmire receive attention. The then-chairman of the Committee on Banking, Housing and Urban Affairs expressed several concerns, the greatest of ...read more

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Posted in Macro Economics | 1 Comment »