Did the Fed steal Germany’s gold?

There must be snickers in the NY Federal Reserve as they make a fool out of their too-trusting depositor: Germany.  Imagine lending 300 tons of gold to a bank which never gets audited, and coming back 6 decades later and asking for your deposits — only to be told something like, “Sorry, but now’s not […]

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The market believes in “magic”

Bloomberg is out today loudly proclaiming Yellen’s victory at stimulating the economy without awakening the demons of inflation. While the Fed scales back the unprecedented stimulus that has inundated the world’s largest economy with more than $3 trillion of cheap cash, the differences between short- and long-term yields of U.S. government bonds indicate that investors are confident […]

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Scary: 38 million men that can’t get a date.

Here’s a scary concept:   38 million men that can’t get get a date. That’s China today.   After decades of “one child policy” and horrific levels of female infanticide, the current demographic landscape is hopelessly imbalanced.   China has too many men. While the imbalance has begun to stabilize in recent years, it will probably take decades […]

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