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An Everyman's Guide To Understanding Cryptocurrencies

What are they exactly? Why consider owning them?
Friday, June 10, 2016, 5:51 PM

When an asset rises by almost 30% in a few weeks, it tends to attract attention.  Recently, that asset was bitcoin (BTC). The price of BTC in dollars rose from $454 on May 23 to $590 on June 6th.

When an asset doubles in a matter of months, it tends to attract attention.  The cryptocurrency Ether (part of the Ethereum platform) doubled from around $7 in April to roughly $14 in early June.

Are these cryptocurrencies mere fads? Or are they potentially game-changing alternatives to the conventional currencies such as the U.S. dollar, Chinese RMB, Japanese yen or European Union euro? » Read more

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Off The Cuff: Jackass Leadership

We'd be so much better off with so much less
Monday, May 23, 2016, 4:52 PM

In this week's Off The Cuff podcast, Chris and Mish Shedlock discuss:

  • Implications Of The Recent Fed Minutes
    • Per usual, good for stocks/bad for gold
  • The Dying Middle Class
    • Sucked dry by central planning policy
  • The Dirty Trick Of Politics
    • Both parties are worth throwing out
  • Jackass Leadership
    • In the Fed, on the Hill, in the White House...
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Off The Cuff: The Folly Of Financialization

Its cures are worse than the diseases it tries to fix
Thursday, April 14, 2016, 12:22 PM

In this week's Off The Cuff podcast, Chris and Charles Hugh Smith discuss:

  • The Future Of Oil
    • Much more volatile prices lie ahead
  • The Folly Of Financialization
    • Central planners are creating cures worse than the diseases they're trying to fix
  • The Dollar Dilemma
    • The direction of dollar now hurts as many player as it helps
  • Return Of 'Race To The Bottom'
    • We risk a global currency war like that seen in the 1930's
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Why I Went A Little More Short Today

The list making me nervous is growing fast
Monday, April 11, 2016, 10:26 PM

I've been slowly layering into a short position against the US S&P 500 stock market. At this rate, I plan to be 80% short in my trading and retirement accounts by the end of May. You know “Sell in May and go away.” I am now at 45%.

That’s my general strategy here. 

My reasons for building up this short position are many.  Here are a few of them. » Read more

Podcast

Jim Rickards: The New Case For Gold

A powerful set of arguments for owning the yellow metal
Monday, April 4, 2016, 12:32 AM

Monetary expert Jim Rickards returns this week to share the insights from his latest work The New Case For Gold, a detailed and highly-researched study of the fundamentals likely to drive the price of gold bullion in the years to come.

Rickards is quite confident that the price is going higher -- much higher in fact -- as the current world fit currency regimes falter, to be replaced by ones backed (at least in part) by bullion.

On the way to that outcome, expect the price to be subject to the geopolitical interests and aims of the largest players on the chessboard. » Read more

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Off The Cuff: Trapped By TINA

Central banks are learning 'There Is No Alternative'
Friday, March 18, 2016, 8:23 PM

In this week's Off The Cuff podcast, Chris and Charles Hugh Smith discuss:

  • Trapped By TINA
    • Central banks find themselves out of options
  • Under Pressure
    • Those higher up the wage curve are finding themselves struggling more
  • Fear As A Social Control Tool
    • We're being sold it much more than we realize
  • Taking Control
    • A better future will come from our own hands, not those of our leaders
Blog

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The Year Of The Red Monkey: Volatility Reigns Supreme

To preserve capital, you need to outsmart the monkey
Friday, March 11, 2016, 3:16 PM

In the lunar calendar that started February 8, this is the Year of the Red Monkey. I found this description of the Red Monkey quite apt:

"According to Chinese Five Elements Horoscopes, Monkey contains Metal and Water. Metal is connected to gold. Water is connected to wisdom and danger. Therefore, we will deal with more financial events in the year of the Monkey. Monkey is a smart, naughty, wily and vigilant animal. If you want to have good return for your money investment, then you need to outsmart the Monkey. Metal is also connected to the Wind. That implies the status of events will be changing very quickly. Think twice before you leap when making changes for your finance, career, business relationship and people relationship."

(Source)

In other words, the financial world will be volatile. And few will have the agility and wile to outsmart the market-monkey. » Read more

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Why I’m Now Short The US Equity Markets

After 7 long years of waiting...
Tuesday, March 1, 2016, 12:55 AM

In the interests of full disclosure and of keeping you abreast of my personal investment actions, I entered a short position on Friday for the first time since 2009. Yes, it’s been seven years.

The equity markets have been all but bulletproof for 6 years, but I think that phase has ended and we’re in for a rough ride from here on out.  At least until stocks fall far enough for the central banks to have another go at attempting to print up prosperity.

First, I think that the stock rally of late is overdone and there’s more downside to come.  I have a whole host of supporting reasons based on credit markets and global trade, but we’ll get... » Read more

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Off The Cuff: The Coming Capital Controls

Dan Amerman lists the many ways we will get fleeced
Friday, February 19, 2016, 5:52 PM

In this week's Off The Cuff podcast, Chris and Daniel Amerman discuss:

  • The Wide Extent Of Central Bank Intervention
    • And the resulting Franken""markets""
  • The Coming Era Of Capital Controls
    • The war on our money is just getting started
  • Don't Underestimate The Incompetence Of Our Leaders
    • Central banks are more stupid than evil
  • Political Risk To The Markets Is Greater Than We Realize
    • It's the trigger everyone is discounting
Blog

The Return Of Crisis

Suddenly banks everywhere are in deep, deep trouble
Tuesday, February 9, 2016, 12:28 AM

Financial markets the world over are increasingly chaotic and either retreating or plunging.  Our view is that there’s a gigantic market crash in our future and it’s possible that this has started now. » Read more