1974 Enders To Kissinger: "We Should Look Hard At Substantial Sales & Raid The Gold Market Once And For All"

Four years ago we exposed what appeared to be a 'smoking gun' of the Fed's willingness to manipulate the price of gold. Then Fed-chair Burns noted the equivalency of gold and money, and furthermore pointed out that if the Fed does not contr… [...]

Guest Post: (Un)Paving Our Way To The Future

Submitted by James H. Kunstler via Peak Prosperity blog, You can’t overstate the baleful effects for Americans of living in the tortured landscapes and townscapes we created for ourselves in the past century. This fiasco of cartoon suburbia, overgro… [...]

Frontrunning: November 29

So much for the euphoria: Stores open early on Thanksgiving but shoppers in no rush (Reuters) Get to work Mr. Chairwoman: Do-Nothing Congress Dithers on Budget as Deadline Nears (BBG) FX to Libor Probes Leave U.K. Traders Looking for Lawyers (BBG) Pro… [...]

Frontrunning: November 26

M&A Mystery: Why Are Takeover Prices Plummeting? (WSJ) Hedge-Fund Fight Club Traded Illegal Tips Not Punches (BBG) Speed Traders Meet Nightmare on Elm Street With Nanex (BBG) A new wave of U.S. mortgage trouble threatens (Reuters) Penny Lane: Gitm… [...]

Returning 2706% In The Past 40 Years, The Best Performing "Yellow" Asset Is…

Monopolistic supply? Thriving wealth-effect-driven demand?   As we noted previously, Medallions – essentially the right to operate a for-hail taxi in New York City – now trade for as much as $1.3 million, an all-time record. &nbs… [...]

The Amazing Disappearance Of Gold From The American Psyche

Submitted by Simon Black of Sovereign Man blog, In George Orwell’s seminal work 1984, there’s a really great scene early in the book between Winston (the main character) and Syme, a low-level functionary at the Ministry of Truth. Syme is wo… [...]

Frontrunning: November 22

Wonder why: JPMorgan plans to keep pay roughly flat from last year (Reuters) – maybe this: Charles Schwab Warns “We Are In A Manipulated Market” Democrats overturn filibuster rule, increasing Obama’s power (FT) Day JFK Died We Traded Through Tears a… [...]

Frontrunning: November 21

When it fails, do more of it – Bank of Japan hints at extending ultra-loose monetary policy (FT) PBOC Says No Longer in China’s Interest to Increase Reserves (BBG) Fed casts about for endgame on easy-money policy  (Hilsenrath) Big trucks still … [...]

Frontrunning: November 20

JPMorgan $13 Billion Mortgage Deal Seen as Lawsuit Shield (BBG) J.P. Morgan Is Haunted by a 2006 Decision on Mortgages (WSJ) World powers, Iran in new attempt to reach nuclear deal (Reuters) Keystone Foes Seek to Thwart Oil Sands Exports by Rail (BBG)… [...]

Frontrunning: November 19

J.P. Morgan, U.S. Reach Historic Settlement (WSJ) OECD cuts global growth forecast (AP) Guess the profit margin: Wal-Mart Touts $98 TV as Holiday Seen Weakest Since 2009 (BBG) Republicans defy threat, block another Obama judicial pick (Reuters) Fed Po… [...]