Central banks are in the process of making trillions in government debt disappear. Governments borrow money that doesn’t exist. The debt may disappear. But the credit – the money put into the economy to create the debt – lives on. The government borrows. The central bank buys its debt. Then it never asks to be repaid. Gold was cash back then. And Roosevelt was trying to avoid the very thing we’ve seen happen in Argentina, Cyprus, and, most recently, Greece – a dash for cash.Read More
Dear Mr. Trump,
First, we would like to apologize for all the insightful and well-informed things we have written about you. But please keep in mind the context in which those remarks were made. Honestly, we think you’re tremendous. Tremendous. We love you. You are an imbecile, it’s true. But at least you are not a conniving, power-grasping, finger-pointing harpy.