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Tag: daily reckoning

6 Major Flaws in the Fed’s Economic Model – James Rickards

The U.S. dollar is the dominant global reserve currency. All markets, including stocks, bonds, commodities, and foreign exchange are affected by the value of the dollar. The value of the dollar, in effect, its “price” is determined by interest rates. When the Federal Reserve manipulates interest rates, it is manipulating, and therefore distorting, every market in the world. The Fed may have [...]

Why the U.S. is Letting China Accumulate Gold – James Rickards

A lot of people think about gold as a percentage of a country’s total reserves. They are surprised to learn that the United States has 70 percent of its reserves in gold. Meanwhile, China only has about 1 percent of its reserves in gold. People look at that and think that’s an imbalance. But those are not very meaningful figures in my view. The reason is that a country’s reserves are a[...]

The Shock Doctrine: When Order Trumps Personal Freedom

by James Rickards One of the most influential books among global power elites in the past 10 years is Shock Doctrine: The Rise of Disaster Capitalism, by Naomi Klein, published in 2007. The shock doctrine is an essential concept for understanding how power elites such as central bankers, finance ministers and the ultra-rich work behind the scenes to advance their agendas. It’s also how[...]

The Dollar Will Die with a Whimper, Not a Bang – James Rickards

The same force that made the dollar the world’s reserve currency is working to dethrone it. July 22, 1944, marked the official conclusion of the Bretton Woods Conference in New Hampshire. There, 730 delegates from 44 nations met at the Mount Washington Hotel in the final days of the Second World War to devise a new international monetary system. The delegates there were acutely aware that the [...]

Lies, Damned Lies, and Central Bank Forecasts – James Rickards

by James Rickards Daily Reckoning The most dramatic battle yet in the currency wars took place last month. It was the financial equivalent of a Pearl Harbor sneak attack… “I find it a bit surprising that he did not contact me,” IMF Director Christine Lagarde told CNBC’s Steve Liesman that day, “but, you know, we’ll check on that.” You can almost imagine the conversation[...]

Oil’s Pricing Mystery Has Been Solved – Chris Mayer

It’s a new year, but it’s still the same market with the same people in it and the same worries. And the big story is still the collapse of oil prices. As I write, oil just slipped to a new 5½-year low. Why? Below I’ll reveal some things you probably don’t know about oil pricing — an explanation from the only guy who seems to get this: Warren Mosler, a former banker and ace hedge[...]

Beware the Money Illusion Coming to Destroy Your Wealth

By James Ricakrds A money illusion sounds like something a prestidigitator performs by pulling $100 bills from a hat shown to be empty moments before. In fact, money illusion is a longstanding concept in economics that has enormous significance for you if you’re a saver, investor or entrepreneur. Money illusion is a trick, but it is not one performed on stage. It is a ruse performed by[...]

Same Currency War, New Battle Phase

By James Rickards The current global currency war started in 2010. My book, Currency Wars, came out a little bit after that. One of the points that I made in the book is that the world is not always in a currency war. But when we are, they can last for a very long time. They can last for five, 10 or 15 years, sometimes longer. And so it’s really not a surprise that here we are in 2014 talking [...]

What You’re Not Being Told About Ebola in the U.S.

by Paul Mampilly I spent all of yesterday reading news reports on the Ebola situation in Dallas, Texas. I’m deeply concerned about what is going on. Let me explain. The Centers for Disease Control and Prevention (or CDC, an arm of the U.S. government) is claiming that it is 100% certain of containing Ebola to Dallas. But the facts are telling a different story. Having followed other health[...]

One World, One Bank, One Currency – Key to When the Gold Price Takes Off

“The government is very good at making things overly complicated for the purpose of obscuring what’s really going on from the public,” observed hedge fund manager Erik Townsend during our interview in May. He was making a point about the 2008 bailouts. The Federal Reserve played a leading role, applying trillions in paper-clip and rubber-band solutions. The Fed’s balance sheet swelled[...]

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