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» john rubino

  • An Amazing Story From Japan
    By on April 19, 2014 | No Comments  Comments
    Here’s something you don’t see very often: For a day and a half this week, the Japanese government’s benchmark 10-year bonds attracted not a single successful private sector bid. At today’s artificially-depressed yields, no one wants this paper — except of course the Bank of Japan, which i...
  • High-Frequency Trading and the Shrinking Trust Horizo...
    By on April 10, 2014 | No Comments  Comments
    The list of markets where big players are cheating the rest of us (and each other) keeps growing. First there was the Libor interest rate, then foreign exchange, then gold. And now comes high-frequency trading (HFT), where Wall Street banks use supercomputers to monitor incoming stock market orders,...
  • Debt Makes You Dumb, Japanese Edition
    By on April 3, 2014 | No Comments  Comments
      Debt works the same way for countries as for families and individuals. That is, if you borrow too much, your life begins to suck. And actions that in normal times might have seemed unwise, contradictory or downright stupid begin to look better than the (even more disturbing) alternatives. Pre...
  • Tangible Versus Financial Assets: The Great Migration
    By on March 19, 2014 | No Comments  Comments
    Wealth comes in many forms, but only two general categories: tangible and financial. Tangible wealth is made up of real, physical things like buildings, farmland, oil wells, commodities, etc. These things can be seen and touched, and – crucially – they don’t have counterparty risk. That is, no...
  • Full-Spectrum War, Peak Complexity and Real Assets
    By on March 7, 2014 | No Comments  Comments
    Not so long ago — say when the Soviet Union was crushing rebellions in Czechoslovakia and Hungary in the 1960s or the US was invading half the Middle East in the 2000s — a big country picking on a small one was mostly a physical activity. Tanks would roll in, buildings and people would be blown ...
  • China Gold Imports Surge – Or Fall. You Decide.
    By on February 27, 2014 | 1 Comment1 Comment  Comments
    Chinese gold imports are becoming a case study in the power of journalists to control the slant of a story by deciding which facts to highlight. The following chart contains the relevant data. Here’s how the mainstream press, in this case Bloomberg, handled it:   China’s Gold Shipments Fro...
  • A World Of Manipulated Markets
    By on February 26, 2014 | No Comments  Comments
    The following is excerpted from The Money Bubble, by James Turk and John Rubino. “There are no markets anymore, just interventions.” — Chris Powell, Gold Anti-Trust Action Committee Once upon a time, a handful of countries sometimes described as “capitalist” claimed to operate on the prin...
  • What Blows Up First? Part IV: China
    By on February 21, 2014 | 1 Comment1 Comment  Comments
    To Westerners, China has always been a mystery. The huge population of very smart, hard-working people. The succession of unfamiliar, authoritarian governments. The sense that they’re playing the long game while we’re obsessed with quarterly reports – and that they’re laughing at our naivet...
  • Bitcoin and Gold: Currency versus Money
    By on February 11, 2014 | No Comments  Comments
    Bitcoin holders — especially those who bought in during the crypto-currency’s recent surge past $1,000 — are a bit shell-shocked this week: Bitcoin prices plunge as problems persist Bitcoin prices plunged again Monday morning after Mt.Gox, the major exchange for the virtual currency, said tec...
  • Bitcoin: Revolution or Trap? Part II
    By on February 8, 2014 | No Comments  Comments
    Adapted from Chapter 18 of The Money Bubble by James Turk and John Rubino: In 1999 a brilliant, erratic iconoclast named Shawn Parker aimed an arrow at the heart of the recording industry. Called Napster, it allowed owners of music to swap it with others online, from one hard drive to another – wi...
  • Bitcoin: Revolution or Trap? Part I
    By on February 4, 2014 | No Comments  Comments
    From Chapter 18 of The Money Bubble by James Turk and John Rubino: In the Internet’s early days there was general agreement that one of the first killer apps would be some form of cyber-currency. Since money was already largely non-corporeal, existing as entries in bank accounts and ready to spend...
  • What Blows Up First? Part III: Subprime Countries
    By on January 29, 2014 | No Comments  Comments
    One of the reasons the rich countries’ excessive money creation hasn’t ignited a generalized inflation is that today’s global economy is, well, global. When the Fed dumps trillions of dollars into the US banking system, that liquidity is free to flow wherever it wants. And in the past few year...

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