The first modern competition between gold and paper money ended like the pre-modern ones. Gold won. Herewith, a short summary:
February 1st, 2010 | Bill Bonner | 8 comments | ContinuedCurrencies
Commentary on worldwide currencies by your Daily Reckoning editors in Melbourne, Australia. Still haven’t subscribed to the Daily Reckoning? What are you waiting for… sign up here, it’s free!
A chronological listing of articles is below.
Debt Problem Has Not Gone Away
Banks have recapitalised, making up for some of their losses from 2008 and 2009. But you still have a financial system addicted to debt and leverage. Investors have bought into the recovery story, though, and taken a punt on shares at just the time they ought to be reducing their allocation to shares (in our estimate). Why?
January 29th, 2010 | Dan Denning | 12 comments | Continued
A Simpleton’s Trade: Sell US Stocks and Buy Gold
Only an economist would dare to look 10 years ahead. Only a fool would put money on it. Today, we do both.
January 25th, 2010 | Bill Bonner | 19 comments | Continued
US Economists Think China Should Raise the Value of Yuan
China is today’s big story. Throughout the world’s media there is much buzz and blather about the “romance”…the “historic relationship”…between the two titans.
November 19th, 2009 | Bill Bonner | 0 comments | Continued
Dollar Rally the Sort of Thing that Will Lead to Correction in Gold Price
House prices were up 6.2% in the third quarter over the same time last year, according to data from the Australian Bureau of Statistics. House prices in the capital cities are surging. Stocks are surging. Gold and oil are surging.
November 17th, 2009 | Dan Denning | 5 comments | Continued
Everyone is Busily Debasing Their Currency
There is a risk in holding cash in an environment of asset price inflation – a condition that usually occurs when governments create large fiscal deficits and inflate the money supply.
November 12th, 2009 | Dr. Marc Faber | 2 comments | Continued
Dollar Up, Gold Down
Here in the Far East, the dollar is a particularly curious entity. Once upon a time, the mighty greenback was the best show in town, the “must have” ticket for the rocking Asian economies.
October 29th, 2009 | Joel Bowman | 0 comments | Continued
US Dollar a Sort of Monetary Brand
The dollar has been the “Coca-Cola of monetary brands,” says James Grant, editor of Grant’s Interest Rate Observer. But even the best of brands can be lousy investments.
October 22nd, 2009 | Chris Mayer | 4 comments | Continued
Aussie Dollar is Crushing Long-time Rivals Like the Pound and the U.S. Dollar
One way to view a currency, we read somewhere recently, is as a national obligation secured by national assets. Those “assets” are loosely defined as economic growth (GDP) or the tax revenues a government can generate. A growing economy generates royalties and income taxes and demonstrates to international bond investors Australia’s ability to service interest and principal on debt.
October 9th, 2009 | Dan Denning | 18 comments | Continued
Aussie Dollar Ready to Storm Past US Dollar
Yesterday’s episode of the Daily Reckoning left off with the question of whether 5,000 was in sight on the ASX 200. The answer today is that it is just over the horizon. The index closed up 2.3% to 4,695. The more investors thought about the recovery/China/demise of the dollar story, the more they liked buying stocks (especially gold stocks).
October 8th, 2009 | Dan Denning | 26 comments | Continued
