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IOU’s: China Buys Treasury Debt

Written by Gary North on May 16, 2015

treasury-bond

China, meaning China’s central bank — the People’s Bank of China — started buying Treasury IOU’s again in March. It purchased $36 billion worth. It now holds over $1.2 trillion in Treasury IOU’s. China has now leaped ahead of Japan as the #1 foreign holder of U.S. government debt. Add Hong Kong to this: another […]

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Russian Central Bank Surrenders: Inflates

Written by Gary North on January 30, 2015

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Six weeks ago, I ran this headline: Russia: A Depression Draweth Nigh. The central bank of Russia had just hiked the interest rate to 17%. There was no question in my mind what would happen next. Now the economic blind men who make decisions at the Russian central bank have belatedly figured out that my […]

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Will China’s Yuan Replace the Dollar? Not a Chance.

Written by Gary North on January 28, 2015

yuan

In hard-money circles, we hear this story all the time: “China and Russia are creating a new world currency.” This is the dumbest story in hard-money circles. Really, it’s imbecilic. The people who argue this way are saying that a fiat currency run by Commie apparatchiks, when combined with a fiat currency run by ex-Commie […]

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Greek Voters Stick It to the Eurozone Good and Hard

Written by Gary North on January 26, 2015

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Greek voters have elected a Marxist political party. The party ran on this slogan: “Spend, spend, spend.” It is a popular slogan. The party will start ramping up the welfare dole. It’s Keynesian welfarism forever! But where will it get the money? There are two ways: (1) default on the government’s debt to large European […]

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What’s RIGHT With the Euro

Written by Gary North on October 11, 2014

euro

You read that right. Right. I think like an economist. The economist always thinks in terms of alternatives. The economist’s mindset was expressed clearly by the late comedian, Henny Youngman. “How’s your wife?” “Compared to what?” One of the most common complaints against the eurozone is this one: “The eurozone is a central currency, but […]

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Illegal Marijuana Market Goes to Pot

Written by Gary North on May 27, 2014

marijuana

Pot growers in Mexico are going bankrupt. Prices have fallen 75%. Why? It has been legalized in two states: Colorado and Washington. The price of pot has fallen 75%. This is basic economics. Competition drives down prices. But how? How does all that legal pot in two states get to other states? By car. Someone […]

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Crimea Crisis Cools Off, Stocks Begin to Rally

Posted on March 4, 2014

Crimea-Standoff-Cooling

Russia’s ruble rebounded from a record low while stock-index futures in the U.S. and Europe advanced after a report that President Vladimir Putin had ordered troops back to bases after military exercises concluded amid tensions in Ukraine’s Crimea region. Gold fell with oil. The ruble strengthened 0.7 percent against the dollar at 7:23 a.m. in […]

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Bitcoins Go Splat.

Written by Gary North on December 18, 2013

Bitcoins have just suffered another huge hit. The other shoe has just fallen. Bitcoins were selling at $1,242 on November 29. The headlines were all over the Web: “Bitcoins surpass the price of gold.” That was the peak. They are around $500 today. That is a decline of 60%. When an investment fad ends, it […]

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