Author Archives: Michael

     

 

 

Welcome to Acting Man's Forum!

It has come to our attention that the Voy Forum, that has inter alia provided a space where the so  -called 'Kitco refugees' could congregate and exchange their views, has run into grave problems. Either the forum is not loading at all, or if it does load, it has become impossible for users to log in.

 


 

You will find access to post after free registration, the forum button is located in the upper menu bar … or click here.

 


 

We have therefore decided to provide an alternative for this forum on the Acting Man site (other readers of our site are of course more than welcome to use it as well). This can either become a permanent home for the 'refugees' if they so wish, or a temporary one they can use in times of need (such as right now).

Similar to how the Voy forum worked, it will simply thread messages in chronological order. Essentially it will use the same process that is currently in use in our comments section, but a separate link to the forum page will be at all times visible at the top of the home page. Users who are not yet registered with us will have to register, as we need to guard against spammers (please see our privacy policy – your e-mail address will definitely never be passed on to third parties by us).

Depending on whether it catches on, we may at a later stage upgrade the forum page. Please be aware that if several links to outside sources are posted at once, the posts sometimes need to await approval (this is also to guard against spam). As a workaround, it may therefore sometimes be better to not post too many links at once in a single message.

 

Post away!

 


 

     

 


Euro Hysteria At A Fever Pitch

Monday was so chock-full with at times bewildering news items that one hardly knows where to begin. We decided therefore to focus on what one might call a case of official hysterics. The increasingly dubious mental state of the personae dramatis indicates that it would be reasonable to expect their unhinged mental disposition to influence  decision making at the highest level.

Read the rest of this entry »

     

 

 

A Debt Agreement Is In The Works – But Does It Really Matter?

Reportedly, Congress has now agreed on a plan to raise the US debt ceiling, or is close enough to agreement to make it a mere formality (at the time of writing anyway), which if true should remove this particular 'trigger event' from consideration for the markets.

In all likelihood this will lead to a number of  short term trend reversals, but it remains open to question whether some of the recent short term trends aren't the beginning of new medium term trends. As we noted last week, our impression was that stocks and bonds were mostly driven by the recognition that the economy is softening rather than the debt ceiling debate, as it has in any case been deemed unlikely that an agreement wouldn't be arrived at in a timely fashion. Some markets like e.g. gold and the 'save haven' currencies (i.e., the yen and the Swiss franc) were probably supported by the debt ceiling debate and t-bills came under pressure as money market funds investing in t-bills experienced large outflows last week (this underscores that there is indeed a difference between money and credit instruments, even the 'near cash' ones).

Read the rest of this entry »

     

 

 

 

…  in a 2:45 long video

Clarke and Dawes, in inimitable fashion, make the debt crisis accessible to everyone, by explaining exactly what the problem is. A friend sent us this video earlier today, and we felt we had to help spreading it, since it really hits the nail on the head. There's nothing that says we can't laugh while the ship sinks – it's better than pulling out one's hair (or what's left of it, depending).

 

Read the rest of this entry »

Most read in the last 20 days:

  • India: Cash is Back
      But the Crisis has Deepened and has Become More Entrenched (Part XIV)   Nobody for President On 17th July 2017, India will elect a new President through a vote of the elected representatives. The two real choices are between Ram Nath Kovind and Meira Kumar. Afraid of looking completely ignorant, I asked a few people who Kovind is. No-one knew of him and people only vaguely remembered Ms. Kumar.   Adults and juveniles have been arrested in different parts of India for...
  • The Golden Age Has Just Begun
      Some Things Actually Go Up Before and During the Fall... In recent issues of Seasonal Insights I have discussed two asset classes that tend to suffer  performance problems in most years until the autumn, namely stocks and bitcoin. I thought you might for a change want to hear of an asset that will be in a seasonal uptrend over coming months.   Many things, including bitcoin, stocks and leaves tend to fall in the aptly named fall... but some things actually start to...
  • Work is for Idiots
      Disproportionate Rewards The International Monetary Fund reported an unpleasant outlook for the U.S. economy on Wednesday.  The IMF, as part of its annual review, believes the U.S. economic model isn’t working as well as it could to generate shared income growth.   Supping with the IMF (we recommend trying to avoid invitations to structurally adjusted suppers if possible. Their air of finality is reportedly unbearable). [PT]   On the same day, in an unrelated...
  • A Look at the Gold and Silver Price Drop of 3 July, 2017
      Mystery Nosedive The price of gold dropped from $1,241 as of Friday’s close to $1,219 on the close Monday, or -1.8%. The price of silver fell from $16.58 to $16.11, or -2.9%. It is being called a gold and silver “smash” (implication being that one party or a conspiracy is doing the smashing).   The flight of the gold rocket, different phases [PT]   Our goal is to help you develop a clear understanding. The move was no mystery. Monetary Metals makes an intensive...
  • Tales from the FOMC Underground
      A Great Big Dud Many of today’s economic troubles are due to a fantastic guess.  That the wealth effect of inflated asset prices would stimulate demand in the economy. The premise, as we understand it, was that as stock portfolios bubbled up investors would feel better about their lot in life.  Some of them would feel so doggone good they’d go out and buy 72-inch flat screen televisions and brand-new electric cars with computerized dashboards on credit.   The Wilshire...
  • Adventures in Quantitative Tightening
      Flowing Toward the Great Depression All remaining doubts concerning the place the U.S. economy and its tangled web of international credits and debts is headed were clarified this week. On Monday, Mark Yusko, CIO of Morgan Creek Capital Management, told CNBC that:   “…we’re flowing toward the path of 1928-29 when Hoover was president. Now Trump is president. Both were presidents with no experience who come in with a Congress that is all Republican, lots of big promises,...
  • How Dumb Is the Fed?
      Bent and Distorted POITOU, FRANCE – This morning, we are wondering: How dumb is the Fed? The question was prompted by this comment by former Fed insider Chris Whalen at The Institutional Risk Analyst blog.   They're not the best map readers, that much is known for certain. [PT]   [O]ur message to the folks in Jackson Hole this week [at the annual central banker meeting there] is that the end of the Fed’s reckless experiment in social engineering via QE and...
  • The Money Velocity Myth
      Popular Imagery of Money on the Move For most financial commentators an important factor that either reinforces or weakens the effect of changes in the money supply on economic activity and prices is the “velocity of money”.   An image from an article on the intertubes that “explains” the velocity of money (one of the articles we came across started out as follows: “The economy runs smoothly only when there is enough money in circulation. How much is enough?” ...
  • Gold and Silver Capitulation – Precious Metals Supply & Demand Report
      Last Week in Precious Metals: Peak Hype, Stocks vs. Flows and Capitulation The big news this week was the flash crash in silver late on 6 July.  We will shortly publish a separate forensic analysis of this, as there is a lot to see and say.   Silver - 1,000 troy ounce good delivery bars, approved by the COMEX. Whatever you do, do not let one of these things land your feet. For readers used to the metric system: these bars weigh approximately between 28 to 33 kilograms...
  • No “Trump Bump” for the Economy
      Crackpot Schemes POITOU, FRANCE – “Nothing really changes.” Sitting next to us at breakfast, a companion was reading an article written by the No. 2 man in France, Édouard Philippe, in Le Monde. The headline promised to tell us how the country was going to “deblock” itself.  But upon inspection, the proposals were the same old claptrap about favoring “green” energy... changing the tax code to reward one group and punish another...  and spending more money on various...
  • What Really Happened When Gold Crashed, Monday June 26?
      The Earth is Still Round Let’s establish three facts up front. One, the volume of contracts traded was not “millions” (as at least one conspiracy theorist is claiming). During the 1-minute window when the price of gold dropped from $1,254.10 to a low of $1,236.50 and recovered to $1,247, 18,031 August gold contracts traded. There was negligible volume in the October and December contracts. Two, the Earth is round. This did not occur while “everyone” was sleeping (as at least...
  • Which Is Worse? America or France?
      French Fraud POITOU, FRANCE – “Which is worse? America or France?” The question must be put in context. We were invited to dinner with local farmers last night. Jean-Yves and Arlette live in a modest house in the nearby town – an efficient and cozy place built about 25 years ago. They’ve added a solarium to the back, where we had dinner.   FAF – French-American Friendship. These days it's a “which is worse” competition... [PT]   Arlette operates a...

Support Acting Man

j9TJzzN

Austrian Theory and Investment

Own physical gold and silver outside a bank

Archive

350x200

THE GOLD CARTEL: Government Intervention on Gold, the Mega Bubble in Paper and What This Means for Your Future

Realtime Charts

 

Gold in USD:

[Most Recent Quotes from www.kitco.com]

 


 

Gold in EUR:

[Most Recent Quotes from www.kitco.com]

 


 

Silver in USD:

[Most Recent Quotes from www.kitco.com]

 


 

Platinum in USD:

[Most Recent Quotes from www.kitco.com]

 


 

USD - Index:

[Most Recent USD from www.kitco.com]

 

 
Buy Silver Now!
 
Buy Gold Now!
 

Oilprice.com

savant