Having closed the US Mint and halted production (blaming COVID-19)  after a surge in demand for gold and silver coins, and warned of the danger of using bills (once again blaming the pandemic and choosing to “quarantine” cash for the sake of Americans’ health), Fed Chair Powell quietly admitted to lawmakers this week that The Fed will be rationing coins…

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For a long time I warned that our economic bubble would burst and that we would plunge into a nightmarish economic collapse.  Now it has happened, and it turns out that fear of COVID-19 was the “black swan event” that triggered the collapse.  The ironic thing is that COVID-19 is not even close to the worst thing…

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Well, it’s official: there won’t be any “Buy American” op-eds by the Oracle of Omaha this time around. In fact, if anything, they will be titled simply “Sell.“ Warren Buffett, who turns 90 in 4 months, had an unpleasant surprise for the Perma bullish Berkshire faithful during their annual pilgrimage to Omaha live-stream of Berkshire’s annual meeting:…

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The coronavirus Small Business Relief program is a bucket of first come first serve moral fraud. The New York Times says Small-Business Relief Effort ‘a Mess’ The Hill says Small businesses still struggling for loans even as $100B is approved The Trump administration has approved roughly $100 billion of the $350 billion allocated for emergency loans to…

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Since Federal Reserve resources were barely able to prevent a complete collapse in 2008, it should be expected that an even larger collapse will overwhelm the Fed’s balance sheet. That’s exactly the situation we’re facing right now. The specter of a global debt crisis suggests the urgency for new liquidity sources, bigger than those that…

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