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Purists with No Skin in the Game

by Gary North

On May 19, I posted an article that I wrote in 1980. It was on how to defend private education against the state. You can read it here.

Lew Rockwell ran it on May 23.

Early in the morning on May 23, I received a letter from a stranger. Its tone was typical of a purist. It seems that I have sold out to the state.

I never receive such letters from published authors or experts in the field. But I have been receiving them for about 50 years from strangers with no background.

My problem is this: I am in several fringe groups. My audience of purists is large.

Here is his message:

Continue Reading at LewRockwell.com…

Trump and Hillary Don’t Know How to Fix the Economy

by Justin Murray

Recently, Hillary Clinton was taped ridiculing Donald Trump for lacking a detailed plan for the American economy. The message, so it goes, is that Trump is not suited for the presidency because he doesn’t have a plan on how to turn the American economy around.

But is it really more dangerous to elect a president who makes up economic policy on the fly than one who proclaims to have a detailed plan for us?

The answer to this is no, it is not more dangerous to elect someone who makes up economic policy by the seat of his pants — as Donald Trump is prone to do — than it is to elect someone who thinks she can have the future of the economy neatly mapped out. However, this does not imply that seat-of-the-pants method is less dangerous either. The underlying problem is we have two competing people who think they can manage the American economy.

Continue Reading at Mises.org…

Bitcoin Skyrockets and is Now up More Than 100% This Jubilee Year

by Jeff Berwick
Dollar Vigilante

Bitcoin has risen more than 25% in the last week, from near $430 to a high over $545 today.

[…] It has now risen more than 100% since last summer when we said it was a screaming buy.

[…] In that time, it has been pronounced dead at least once and is now at a 20-month high.

We gave these three main reasons in the last year for why we thought it would go much higher:

1. Bitcoin and Blockchain are the Future of Money and Banking

Still to this day most other financial analysts either ignore bitcoin or, even stupider, deride it as being some sort of scam or ponzi scheme.

Continue Reading at DollarVigilante.com…

Energy & Debt Crisis Point To Much Higher Metals Prices

by Steve St. Angelo
SRSRocco Report

The fundamentals are showing us more people are getting into the metals, even though the price doesn’t show it. And the energy situation, it continues to get worse. So with the massive amount of debt now on the system, it’s going to be hard for the establishment to continue business as usual.

I sat down with Mike Gleason from Money Metals Exchange. I provided an update on the silver market and how bad the situation was in the U.S. Energy Sector. Unfortunately, most precious metals analysts and investors disregard what is taking place in the energy industry. This will be extremely detrimental as there are more important things to understand than just the rise in the precious metals values.

Continue Reading at SRSRoccoReport.com…

Gold Spooked by Fed Rate Fears Heads for Worst Month Since 2013

Bullion has worst daily losing streak in more than a year.

by Sharon Cho and James Poole, Bloomberg
Mine Web

Gold is on track for its biggest monthly decline since June 2013 after Federal Reserve Chair Janet Yellen said the improving US economy meant another interest-rate hike would probably be in order “in the coming months,” pushing the dollar to the highest since March.

Bullion for immediate delivery fell as much as 1% to $1,200.03 an ounce, the cheapest since Feb. 17, before trading at $1,203.22 by 11:51 a.m. in Singapore, according to Bloomberg generic pricing. Prices are down for the ninth day, the worst run in more than a year, and have lost 7% in May.

Yellen affirmed in comments Friday what a number of her officials said last week, that evidence of strength in the US economy meant tighter monetary policy could now be considered.

Continue Reading at MineWeb.com…

Watch America Beat Everyone Else on Military Spending Over 25 Years

On military spending, ‘America’s dominance is the one constant’

by Jessica Marmor Shaw
Market Watch

Military spending may not be the only indicator of a nation’s fighting power, but it’s the most obvious one. The U.S. spent over $600 billion on its military in 2014, outspending its closest rival, China, by nearly $400 billion, according to the Stockholm International Peace Research Institute.

Were things always this way?

Data visualization site HowMuch.net has put the numbers in historical perspective by creating an animated graphic of the past 25 years of military spending around the world. As HowMuhch put it, “America’s dominance is the one constant.”

Continue Reading at MarketWatch.com…

The Stunning Idiocy of Steel Tariffs

by Pater Tenebrarum
Acting Man

Victims of the Boom-Bust Cycle

The world is drowning in steel – there is huge overcapacity in steel production worldwide. This is a direct result of the massive global credit expansion that has taken place over the past 15 years. Much of this capacity is located in China, but while the times were good, iron ore and steel production (and associated lines of production) was expanded everywhere else in the world as well.

[…] Heavy industries like steel, which represent quite a high stage of the production structure, i.e. are temporally far removed from the consumption stage, are especially prone to falling prey to boom-bust cycles. In a fiat money system run by central planning agencies and supplemented by a fractionally reserved banking system, the amplitude of business cycles will be especially pronounced (readers may have noticed that systemic crises have become increasingly severe with every new iteration).

Continue Reading at Acting-Man.com…

Brits “Appalled, Disgusted” At Brexit Postal Ballot ‘Fraud’

from Zero Hedge

“I am appalled by it. It should be neutral,” exclaimed one angry Brit after seeing that Brexit voters are being sent postal ballots with a guide that strongly suggests they should vote for Britain to remain in the European Union.

The “How to vote by post” forms were sent out last week…

[…] And, as The Telegraph reports, this has prompted furious complaints from anti-EU campaigners, as the step-by-step guide includes advice to “read the instructions carefully, then complete your ballot paper” above an image showing a pencil in a hand ticking a box to “remain a member of the European Union.”

Continue Reading at ZeroHedge.com…

One Of The Most Tragic Images You Will Ever See

from King World News

As people continue to digest breaking news from around the world and the United States celebrates Memorial Day, included in this piece is one of the most tragic images you will ever see.

[…] This text was Richard Russell’s final Memorial Day commentary before he passed: “Monday is Memorial Day, the day in which we show our appreciation to the hundreds of thousands of men who have died in America’s wars. My family on my father’s side has fought in all of America’s major wars, from the Revolutionary War to the Civil War to World War I and World War II. Last night I watched Ken Burns’ amazing documentary, The Civil War.

Continue Reading at KingWorldNews.com…

How to Safely Outperform the Markets by 3-to-1

from Casey Research

Editor’s note: The stock market and our offices are closed today in observance of Memorial Day. So instead of our normal commentary, we’re bringing you an incredibly valuable interview every investor should read and read again.

Bonner Private Portfolio editor Chris Mayer has a track record you might not believe… Over the 10-year period from 2004 through 2014, he outperformed the book value of Warren Buffett’s Berkshire Hathaway (BRK) by 2-to-1. And he beat the S&P 500 over 3-to-1.

Below, in an interview with Palm Beach Daily’s J. Reeves, Chris shares his investing strategies…including his powerful system behind his stunning outperformance. We hope you enjoy…and have a great holiday.

Continue Reading at CaseyResearch.com…

Building An Igloo Alone: “Survive In Ice and Snow”

by Mac Slavo

OK, I know it isn’t anywhere near winter, and there aren’t many people reading this site who live in or even visit the remote tundras of the extreme north and south of this planet.

However, I find it fascinating how people have figured out how to survive and thrive with next to nothing.

Shaping an igloo out of blocks of ice cut from the snow covered surface is a great example, and has many survivalist and SHTF applications for those who find themselves in extreme climates. Besides that, it is just cool.

This man shows how it can be done by anyone – even alone:

Continue Reading at SHTFPlan.com…

Japan Is First To Panic; Won’t Be The Last

by John Rubino
Dollar Collapse

The most widely-reported result of the recent G-7 meeting was Japan’s attempt to convince the other major economies to admit that a crisis is imminent and take appropriately radical steps. The response seems to have been a bunch of blank stares. As India’s Business Standard noted:

G7 pact offers minimal cover for Abenomics reset

A Group of Seven compromise offers minimal cover for Shinzo Abe. The Japanese prime minister’s plan to revitalize the world’s third-largest economy needs fresh impetus. Abe didn’t get as much international backing as he might have liked from hosting the rich nations’ club. But, the summit communique can, just about, be spun his way.

Continue Reading at DollarCollapse.com…

Anti-Trump Letter Reveals As Much About Writers as the Candidate They Despise

by Daily Bell Staff
The Daily Bell

Over 450 Writers, Including Stephen King And Michael Chabon, Sign Petition Against Trump … Pulitzer and National Book Critics Circle winners call out Trump’s “nativism and bigotry.” – Huffington Post

This is an amazing effort considering the many things that writers could complain about when it comes to the US.

But it is Donald Trump that seems to have aroused these writers.

Published on Literary Hub, the petition states, “We, the undersigned, as a matter of conscience, oppose, unequivocally, the candidacy of Donald J. Trump for the Presidency of the United States.”

The letter was signed by Celeste Ng, Lydia Davis, Rick Moody, Rebecca Solnit, Lauren Groff, Jennifer Egan, Anthony Marra, and over 400 others.

Continue Reading at TheDailyBell.com…

There Has Been A Coup In Brazil

by Dr. Paul Craig Roberts

In Brazil the country’s largest newspaper has published a transcript of a secret recording leaked to the newspaper. The words recorded are the plot by the rich Brazilian elite, involving both the US-corrupted Brazilian military and Supreme Court, to remove the democratically elected president of Brazil under false charges in order to stop the investigations of the corrupt elites who inhabit Brazil’s senate and bring to an end Brazil’s membership in BRICS. The Russian-Chinese attempt to organize an economic bloc independent of Washington has now lost 20% of its membership.

Democracy has been overthrown in Brazil as in Ukraine, Honduras—indeed, everywhere the dirty evil hand of Washington falls, including the US itself.

Continue Reading at PaulCraigRoberts.org…

The Great Banking Lie

by Ted Bauman
The Sovereign Investor

Neither one of them could believe their eyes.

I sat in a comfortable armchair in the office of the newly appointed deputy minister of finance of a large African country. He sat across from me on a silk-upholstered divan. Next to him was a consultant seconded to the government by one of the country’s largest banks. He could barely contain his contempt.

I certainly didn’t look like the managing director of a financial company. My faded jeans had holes at the knees. I was wearing a T-shirt stained with the ochre-colored soil from the building site. My work boots were caked with the stuff.

“I think you’ll find that this is in everyone’s best interests, including your clients,” said the banker. “Members,” I corrected him. “We aren’t a bank.” Icy stare.

Continue Reading at TheSovereignInvestor.com…

Life on the Edge, Continued

by John Mauldin
Gold Seek

At the conclusion of my conference yesterday, I did a number of interviews and then made my way a few miles home, collapsed into my favorite chair, and thought back over the myriad of ideas, the whirlwind of friends, and the just general all-around fabulous time I had experienced over the past four days.

But then it was time to drive back past the hotel where SIC had happened to a little hole-in-the-wall bar where all my children had gathered to celebrate my youngest son Trey’s 22nd birthday. The day before had held an emotional family moment for me, too, because for the first time in my life I had all seven of my kids, their significant others, and five of my grandchildren on stage with me right before my speech. I haven’t seen the “official photograph,” but a friend sent me this one.

Continue Reading at GoldSeek.com…