Open Letter to Ted Butler

Dear Mr. Butler: I read your article about silver manipulation at I am responding as someone who wants free markets. I want to make one thing clear before I proceed. We have no free markets anywhere today. Without constant government intrusions into the markets, the paper currencies would have collapsed already, and there would […]

Debunking Gold Manipulation

Yesterday [Nov 29, as I wrote this on Nov 30], the December gold contract moved sharply into backwardation (it happened in silver also, but let’s focus on gold). This means that one could sell physical and simultaneously buy December to make a profit (please see the graph). So let’s look a little deeper. December basis […]

A Socialist’s Proposed Fix for the Economy

Charles Hugh Smith may not call himself a socialist. But I’ve always found this altruist, collectivist, populist undertone to his writing. Let’s see what he wrote today. He has an 8-point plan to fix the economy. The first thing I’ll note is that he does not address the punitively low rate of interest set […]