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Digital Tulips: The Bitcoin Mania

Written by Gary North on December 3, 2013

In 1637, the tulip bulb investment mania peaked in Holland. It had made some people rich. Now it was about to make others poor. Bulb prices rose steadily throughout the 1630s, as ever more speculators wedged into the market. Weavers and farmers mortgaged whatever they could to raise cash to begin trading. In 1633, a […]

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Bitcoins: The Second Biggest Ponzi Scheme in History

Written by Gary North on November 29, 2013

I hereby make a prediction: Bitcoins will go down in history as the most spectacular private Ponzi scheme in history. It will dwarf anything dreamed of by Bernard Madoff. (It will never rival Social Security, however.) To explain my position, I must do two things. First, I will describe the economics of every Ponzi scheme. […]

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Hostess Tries to Sell Its Brands

Written by Gary North on January 29, 2013

Members of the small union that refused to bargain with Hostess are now looking for work. “I guess we showed ‘em.” Yes, they did. They are on food stamps now. They are receiving their unemployment checks from the federal government. The taxpayers are paying for their stand against the capitalists who owned Twinkies. With respect […]

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Why Is Apple’s Stock in Free Fall? Simple: RTTM.

Written by Gary North on January 25, 2013

The chart tells all. From over $700 to $450: this is a disaster.  Simple: regression to the mean (RTTM). The poor saps on Wall Street never saw it coming. The funds loaded up. Here was a sure thing. It could not lose. Here is a recent article on what happened: How Apple Ate Wall Street. […]

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How Older Economists Retired Rich

Written by Gary North on October 9, 2012

Gary North’s Reality Check (Oct. 9, 2012) Most of the academic economists I know were able to retire rich. I define “rich” in a special way: the ability to quit your day job, retire permanently, and not suffer a reduction in your lifestyle. There are a lot of people who think the government has promised […]

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Gold Coins: What to Buy, What NOT to Buy

Written by Gary North on December 1, 2011

According  to gold coin broker Peter Schiff, you should not buy numismatic coins as your first purchase. Rare coins are for collectors. The person who is seeking a safe haven for his money should buy bullion coins, such as American gold eagles, South African Krugerrands, or Canadian maple leafs. But what about the threat of […]

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