News Commentary

What Happens When You Tell Indians to Stop Buying Gold

"India’s culture is very different from that of many Western countries. I’ve been to many Indian weddings and have witnessed this special and unique celebration as well as a very tight bond among families. However, the record gold buying we are seeing today isn’t only out of love. I believe Indians are also buying out of fear due to its infamously poor and corrupt government policies. Good policies can drive economic growth and markets respond positively. Bad policies can have the opposite effect. At the same time Indians buy gold out of love for their family and close friends, they are also buying gold out of protection." Continue reading →

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The Pantheon

"Edward Snowden, Glenn Greenwald, Bradley Manning, Julian Assange, Sibel Edmonds, Karen Kwiatkowski, Gary Webb, Danny Casolaro, John Stockwell, Daniel Ellsberg, Mike Gravel, A. Ernest Fitzgerald, Whitaker Chambers, Benjamin Gitlow, and Smedley Darlington Butler are heroes and heroines in the pantheon of whistleblowers who put their conscientious dedication to first principles ahead of a pretended allegiance to duplicitous cabals within a criminal state which had betrayed the fiduciary trust and essential liberties of the people." Continue reading →

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Consequences of Power

"What we are seeing in Egypt and across the Middle East is the consequence of decades of US hegemony. Supporters of US policy in the region will argue that military aid to Egypt, arming Syrian rebels, drone strikes in Yemen, occupied forces in Afghanistan, etc, serve a national interest and that the 'Great Peacekeeping Armadas' of western nation states are doing exactly what they are supposed to: Maintain peace through strength. Is this a terribly misguided philosophy or a bold-faced lie? Does Obama really 'deplore violence against civilians?' Do US special interests really 'support universal rights essential to human dignity?' Has any administration?" Continue reading →

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Steve Gibson: The Lesson of Lavabit

"I am impressed that Ladar chose to shutdown his service rather than continue to promise something that he now unequivocally knew was no longer secure in the face of law enforcement’s quasi-legal incursions. It would have probably been better if he hadn’t attempted to offer security that was beyond his ability to provide. During my weekly Security Now! podcast with Leo Laporte, we use the acronym 'TNO' (Trust No One) to refer to any system where readily available cryptographic technology is properly employed in such a fashion that it is not necessary to trust the behavior of any third party." Continue reading →

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Will Europe pay the price for one-sided U.S. financial information demands?

"For example, under a law recently approved by the parliament of the United Kingdom (the first country to sign an IGA), HM Revenue & Customs commits explicitly to impose the American FATCA law on British institutions. The costs of regulatory implementation by HMRC would fall on British taxpayers. In turn, UK financial institutions (and their customers) would bear hundreds of millions of pounds in costs for collecting the information for transfer to the IRS. The direct revenue benefit to the Exchequer? Zero. What is the U.S. obligated to provide in return? Nothing, as it happens. The IGAs have no clear status in American law." Continue reading →

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Bill Bonner: Trust is falling

"Stocks are now as expensive as they were in 2007, says our old friend Mark Hulbert. As for bonds, they are at the top of a 30-year bull market. And gold? The metal bottomed out in 1998. It's gone up ever since, with a textbook correction over the last year or so. What's happening now? Slowly, gradually, like draining a huge lock on a canal, the bond market is dropping. Bonds rise on trust. They fall when trust ebbs away. Why should trust fall now? The simple answer is because it has run its course. Trust is cyclical. As it grows, people become more confident, more sure, and more reckless. Why hold back when there is nothing to fear?" Continue reading →

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The Hugely Hypocritical Hillary

"Charlie Anderson, responding to the post about Pillary’s prattling tour and the article discussing her anguish at denying folks the 'right' to vote (ahem: for her), points out that neither she nor her fellow rulers have any problem whatsoever in depriving all citizens of the right to vote for third parties. Indeed, they work assiduously to do exactly that." Continue reading →

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The Hugely Hypocritical Hillary

"Charlie Anderson, responding to the post about Pillary’s prattling tour and the article discussing her anguish at denying folks the 'right' to vote (ahem: for her), points out that neither she nor her fellow rulers have any problem whatsoever in depriving all citizens of the right to vote for third parties. Indeed, they work assiduously to do exactly that." Continue reading →

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Bill Bonner: The Virgin Central Banker

"The air-traffic controller can help make sure people get where they were going safely. If he does his job well, things will turn out as expected. But if he does a ‘brilliant’ job, travellers end up where they didn’t expect to go; he has not really added to the sum of human happiness. Out-of-the-box air traffic controlling will not make the world a better place. It can only make a mess of things. Likewise, the best a central banker can do is the normal thing. Creative central banking — and experimental central bank policies — should be avoided. They don’t make the world a better place; they only take people where they didn’t want to go." Continue reading →

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Why the White House Is Panicking About Obamacare

"About one in every four individuals who are eligible for Medicaid in this country has not bothered to enroll. About one in five employees who are offered employer-provided health insurance turns it down; among workers under 30 years of age, the refusal rate is almost one in three. Think about that for a moment. Millions of people are turning down (Medicaid) health insurance, even though it’s free! Millions of others are turning down their employers’ offers. Welcome to the huge disconnect in health reform. On the one hand there are the people who are supposed to benefit from health reform. On the other hand there are the people who talk about it and write about it." Continue reading →

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