We now see who are “millionaires and billionaires” in practice. They are individuals with income over $400,000 or married couples with income over $450,000. Their top tax bracket rises from 35% to 39.6%, an increase of 13%. The capital gains tax rate goes from 15% to 20%, an increase of 33%. The temporarily reduced payroll […]
New Years Resolution: Measure your net worth in Gold.
The last workweek of the year is complete. Beers were had with friends yesterday, Friday evening. The final shopping trip to the mall was completed today, followed by a good meal with my wife. Now I find myself in a reflective mood, and this is a perfect time to reflect on what an incredible year […]
It is now the second anniversary of a campaign to “crash” JP Morgan by encouraging people to buy silver (see max Keiser http://www.youtube.com/watch?v=H4IBUTHyROs). The idea is that JP Morgan has a large naked short position in silver. If people buy physical silver it will drive the price up and deprive JP Morgan of the metal […]
Dear Mr. Price: I read your piece: “On the Use of Gold Coins as Money” (http://www.plata.com.mx/mplata/articulos/arti…iidarticulo=196). I think you ask the right question. This is the elephant in the room. Why do gold and silver not circulate? I love your analogy of the Swiss asserting that they will “allow” gold to have a monetary role, […]
In Free Market Revolution, co-authors Yaron Brook and Don Watkins, colleagues at the Ayn Rand Institute, undertook a difficult task. Since Ayn Rand made the case for egoism as the morality of capitalism in Atlas Shrugged (and more pointedly in Capitalism: The Unknown Ideal), numerous books have argued that free markets produce wealth, discussing various […]
The financial press and alternative investing blogosphere is all abuzz about proposed German controls that attack High Frequency Trading (http://www.cnbc.com/id/49174317). Government always justifies its coercive intrusion into markets by appeal to a sense of the “public good”, and its interference never delivers the goodies as advertises (see my doctoral dissertation for a full explanation of […]
There are many books on the market today about the coming collapse of the global dollar-based monetary system. Many of them purport to help the reader “profit” from the collapse(!) Others are filled (just like the blogosphere from which they often come) with dark, conspiratorial whispers, psychologizing of leaders in government and finance, and preposterous […]
In a gold-based monetary system, every asset is ultimately backed by gold. This does not mean that every debtor (including banks) keeps the full amount of its liability in gold coin just lying around. Why would one bother to borrow if one did not need the money? It means that every asset generates a gold […]
