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If I were advising President Trump, here are the recommendations – with the supporting analysis – I would offer to him to Make America Great Again. To achieve this laudable goal, which would secure for him a pre-eminent place in history, a return to the fundamental principles that made America great is needed. As numerousRead more

Gold may seem overvalued because of the recent record highs in its 6-decade ascent from $35 to $2500, but prices – like appearances – can be deceiving. What’s more, the value of any asset is more important than its price. Price and value are too often conflated, which is a mistake. An asset’s price andRead more

Monetary and banking crises are a recurring event. Sometimes their impact is contained, like occurred when three California banks collapsed in early 2023. Other times – like the Great Depression – the fallout can be calamitous. Large or small, these crises are inevitable and unavoidable. This observation is not only undeniable from even a cursoryRead more

“How did you go bankrupt?” Bill asked. “Two ways,” Mike said. “Gradually and then suddenly.” Ernest Hemingway, The Sun Also Rises, 1926. The financial position of the federal government of the United States has been gradually deteriorating for decades. It is now rushing headlong to the financial tipping point that will cause it to default onRead more

Money is routinely defined by what it does, rather than what it is. That is unfortunate because its modern definition overlooks money’s important – but now forgotten – fourth function. Aristotle observed that money is a medium of exchange, unit of account, and store of value. This definition omits the fourth function needed to explainRead more

In 1922 Benito Mussolini became prime minister of Italy, putting that country on a path that had global ramifications. He was the world’s first fascist leader. Other fascists soon followed with fanciful promises that were varied but tuned in to what people wanted to hear. Their problems would be solved, whether the restoration of order,Read more

Some interesting data on housing prices in the United Kingdom(1) was recently published by Savills, one of the world’s leading property agents. The important messages that can be drawn from this data apply globally, namely, that fiat currency has a clear and direct impact on prices that can lead to a variety of misconceptions aboutRead more

“The Earth speaks to us through the elements of nature. In every natural thing, we can find a hidden, powerful message.” Ralph Waldo Emerson Every natural element to which the earth has been endowed has a usefulness – a purpose. If we listen to gold, one of the earth’s natural elements, its message is loudRead more

Leverage is the use of credit or borrowed capital to increase the earning potential of your investment portfolio. But like everything else in finance, higher returns mean higher risk, so leverage is not for everyone. Nevertheless, leverage can be a useful tool for those accepting the risk. If you choose to use it to maximiseRead more

We are told by Shakespeare: “Neither a borrower nor a lender be.” Is it good advice?   Like so many things in life, the answer is – it depends. Individuals are different, and what is right for one person may not be suitable for another. What’s more, everyone’s circumstances are different, which may require differentRead more