04.20.26- This Inflation Is Different Than COVID Inflation
Peter Reagan

As a kid, I used to watch magicians like David Copperfield and wonder how they pulled it off.

How did something disappear right in front of you? Or reappear somewhere else? Read More

04.17.26- As Trump threatened to fire Powell, federal prosecutors showed up unannounced at the Federal Reserve building
Paul Wiseman

WASHINGTON (AP) — Federal prosecutors made an unannounced visit this week to a construction site at Federal Reserve headquarters that is the focus of an investigation into a $2.5 billion renovation project, according to two people familiar with the visit. Read More

04.15.26- Federal Spending Rises to Post-Covid High in Wake of DOGE Failure
Ryan W. McMaken

The US Treasury Department last week released its monthly report on federal spending and revenue. March spending for the US federal government was up by more than $20 billion, or by nearly four percent, from March of last year. In spite of the administration’s claims last year that Trump would implement hundreds of billions in spending cuts, the US federal government is now spending at higher levels than anything seen since 2021 when covid-related spending surged above all previous historical peacetime levels. Read More

04.13.26- The Dollar Isn't Collapsing – It's Being Replaced Slowly
Peter Reagan

The U.S. dollar has been the world’s reserve currency (as the petrodollar) for decades now, but the current conflict in the Middle East seems to have accelerated the dedollarization trend.

Now, I’m not talking about an immediate radical shift in how the world approaches the dollar. But I am talking about a clear and definite shift away from the dollar, a shift that didn’t start in the last few weeks. Read More

04.10.26- The 1970s Are Back – But This Time the Fed Is Cornered
Peter Reagan

If we’re repeating the 1970s, gold may not be the story – volatility is

A question raised in recent coverage – including analysis discussed by BBC – cuts to the heart of today’s macro debate:

Are we seeing a meaningful replay of the 1970s, or just a lookalike? Read More

04.08.26- Is the Dollar Collapsing? 8 Key Indicators You Can’t Ignore
Nick Giambruno

There are eight key indicators to watch as the US government falls deeper into the self-perpetuating debt spiral.

Indicator #1: Federal Budget Deficits

It’s important to note that these projections rest on the ridiculous assumption that there will be no wars, recessions, or other events that drive additional federal spending. That assumption is already out the window with the Iran war: the Pentagon has requested an additional $200 billion, for starters. Read More

04.06.26- Central Bank Gold Buying Rebounded in February
Mike Maharrey

Despite sales by Turkey and Russia, net central bank gold buying was positive in February, rebounding from a tepid January.

In total, central banks globally added a net 19 tonnes of gold to their reserves in February. That was up from just 5 tonnes in January. Read More

04.03.26- Rising Prices and Falling Values—Inflation and Social Decay
Doug Casey

International Man: Whether it’s at the grocery store, the mall, restaurants, or airports—anywhere you turn—people are finding inferior goods and services at higher prices.

Living standards have taken a big step backward recently and are trending even worse.

What is really going on? Read More

04.01.26- I'm Sorry, But The Fed
Has Run Out Of Road
Christopher Irons

There is no painless option left. It’s deflationary depression or crippling inflation.

There is a special kind of denial that only financial markets can sustain. It is the quiet insistence that everything is fine because the S&P is only down about 10%, as if that number alone captures the health of an entire financial system. It is the belief that until equities are in full free fall, nothing truly serious can be happening underneath. Read More

03.30.26- And Now, for Something Entirely Different: Lockdown 2.0... The IEA Has Released 10 Guidelines To Help The Public Prepare For The Coming Fuel Shortages
And “Energy Lockdowns”
Michael Snyder

Are we really going to go through this again? It appears that the Iranians are absolutely determined to keep traffic through the Strait of Hormuz paralyzed until they get what they want. In order to reopen the Strait of Hormuz, an absolutely massive military operation would be required, and perhaps we will see such an operation in the days ahead. But for now approximately 2,500 shipscontinue to be trapped inside the Persian Gulf, and this is already starting to create fuel shortages in some parts of the globe. If the Strait of Hormuz is not reopened for months, the fuel shortages will become extremely serious and it is inevitable that “energy lockdowns” will be imposed. Read More

03.27.26- The Fed Sees Higher Inflation Coming — and May Cut Rates Anyway
Bryan Cutsinger

The Federal Open Market Committee (FOMC) held interest rates steady on Wednesday, keeping its target range at 3.5 to 3.75 percent. Chair Jerome Powell offered a sober but familiar assessment: the economy is expanding, the labor market is stable, and inflation remains “somewhat elevated.” A new wrinkle — supply disruptions in the Middle East — has joined tariffs as the latest explanation for why prices aren’t behaving. Read More

03.25.26- The Fed Just Admitted It’s Powerless
Peter Schiff

On Wednesday Peter appeared on Fox business to dissect the latest PPI figures and the Fed’s newest decision to hold rates steady. Peter argues the Federal Reserve is out of touch, inflation is already running hot, and recent geopolitical shocks will only make a fragile U.S. balance sheet worse.

To support his case, he walks listeners through recent price data, the housing market’s deep imbalance, and the latest price moves in gold and mining shares. Read More

03.23.26- And Now, for Something Entirely Different: The Political Left, Multiculturalism And The Dark Alliance With Islam
Brandon Smith

For 15 years the FBI was engaged in a landmark investigation into the largest Islamic-based charity in the United States, called The Holy Land Foundation. The organization was operating as a front for Muslim terror groups, funneling cash from western countries to Hamas and the Muslim Brotherhood, until they were finally put on trial in 2008. Read More

03.20.26- The Iran War Is About to Unleash a Inflation Shock the Fed Can’t Stop
Graham Summers, MBA

As I keep emphasizing, the War in Iran has the potential to ignite another round of inflation in the U.S. In fact, the longer this conflict drags on, the higher the odds of inflation surging.

When most people think about oil and its uses, they think of gasoline and cars. But the reality is that oil prices input to just about everything in the economy. In this contex, higher oil prices can cripple an economy in a step by step fashion. Read More

03.18.26- All This Fuss About A Fiat Dollar
Jeff Thomas

Throughout the First World, and, particularly in the US, there is an increasing consciousness that fiat currency, far from being the solution to economic problems, is, in fact, a cause of them.

There are even those who, over the years, have predicted that the continued massive creation of fiat dollars may well lead to price controls, destruction of savings, looting, riots and, possibly, even revolution. A decade ago, such predictions were regarded by most as nonsense. Today, all of these eventualities seem more likely, although there still remains a strong contingent (possibly even a majority) who believe that, “It can’t happen here.” Read More

03.16.26- The Myth of Fed Independence—and How to Actually Stop the Inflation Machine
David Stockman

Under the Fed’s superintendency of the nation’s currency after it opened its doors for business in 1914, the purchasing power of the dollar has declined by 97%.

That’s surely a screaming failure by every pre-1980s notion of the role of the central bank because in those halcyon times maintaining the integrity of the currency ranked high above all other considerations. Read More

03.13.26- And Now, for Something Entirely Different: Maybe Attacking Iran Was Not Such A Good Idea
Philip M. Giraldi, Ph.D.

Trump unleashes the Israeli monsters

The completely unprovoked attack on Iran initiated by the United States and Israel has, after a little more than a week of military action, opened a new depth of geopolitical insanity. As suspected, the attack was all about protecting Israel while also minimizing the damage to US military, intelligence and diplomatic facilities in the Persian Gulf region. Read More

03.11.26- Loans to Nonbanks Threaten Banking Crisis
Christopher Whalen

Last week, the Federal Deposit Insurance Corp released the industry data for US banks for 2025. On the surface, the numbers look reassuring, even strong. But beneath the calm headline figures lies a growing risk that investors should not ignore. Domestic deposits increased for the sixth consecutive quarter in Q4 2025 by $318.3 billion or 1.8%, the FDIC reports. Loans grew by 2% in Q4 and almost 6% YOY. Foreign deposits grew 11%, but subordinated debt and FHLB advances each fell ~ 14% as banks shed excess capital and funding. Read More

03.09.26 - And Now, for Something Entirely Different: The Mosaic of Death by a Thousand Cuts
Pepe Escobar

This is a Structured War of Attrition. And the screenplay has been written in Tehran.

Iran’s Decentralized Mosaic Defense – the official denomination – keeps being tweaked 24/7: that’s the IRGC’s long-term strategy of a death by a thousand cuts designed to bleed the Empire of Chaos dry.

Let’s wade through the interconnected canals permeating the unconstitutional, unwinnable, strategically catastrophic Empire of Chaos-built swamp. Read More

03.06.26- And Now, for Something Entirely Different: What Happens Next In Iran? Decapitation, Quagmire Or WWIII?
Brandon Smith

Before I begin this analysis of the situation in the Middle East and its consequences, I want to warn people that this examination is going to be largely secular and nuanced; which means people on both sides of the divide are going to piss and moan about it. Frankly, I don’t care. Read More

03.04.26- And Now, for Something Entirely Different: Iran Has Closed The Strait Of Hormuz, How High Will The Price Of Oil Go?
Michael Snyder

The war with Iran that we have been waiting for is officially here. The U.S. and Israel are absolutely pummeling Iranian military targets, and in return the Iranians are striking targets all over the Middle East. As you will see below, even a British military base in Cyprus has just been hit. I think that the Iranians were hoping that the unexpected nations that they are targeting would be so traumatized that they would beg the United States to stop the conflict, but instead it seems like almost everyone is uniting against Iran. There is a growing consensus that there is no way that the regime in Iran can remain in place after this, and that means that this war could go on for an extended period of time. Read More

03.02.26- When Central Bankers Worry About Aliens, the Problem Isn’t Aliens
Chris MacIntosh

What do you do when the financial system is hanging by a thread and about to collapse?

Why, of course, you call on an alien invasion.

The Independent recently ran the headline, “Bank of England must plan for a financial crisis triggered by aliens, says former policy expert,” with the subhead, “Financial markets could collapse if the American government confirms the existence of alien life.” Read More

02.27.26- The Mechanism of Financial Control
Richard Roberts

For the better part of a year, many had become convinced that the Federal Reserve's independence was in its final days.

The narrative rested on two prongs.

• First, an FOMC browbeaten by relentless public attacks, threats of removal, and a Justice Department criminal probe into Chair Jerome Powell. The pressure, many argued, had grown so intense that Fed decisions would no longer be trusted to reflect economics rather than politics. Read More

02.25.26- The Mechanism of Financial Control
John Walter

Webb explains how money has been turned into an extremely efficient tool of social domination. Through monetary incentives, people self-manage without the need for direct physical coercion. This allows the powers that be to maintain their influence with minimal energy expenditure. However, when this system fails—as in financial crises—physical control comes into play. Read More

02.23.26- Bad Boy Gives his Bad Report Card – a Bad Report
David Haggith

“We are the Ministry of Truth!”

One way a bad boy might deal with a bad report card is to claim the teacher is lying or doesn’t know what she is talking about. Most bad boys, however, would be smart enough to figure out they can’t sell that excuse to mom or dad. Yet, that is the flimsy excuse Trump’s economic chief Hassett gave today for the bad report card delivered by the Fed over the damage being done by the Trump Tariffs to American businesses and consumers. Read More

02.20.26- The “Super-rich” Of Wall St. Are Preparing For A SHTF Collapse
Milan Adams

Ever wonder if the “super-rich” of Wall St. are preparing for a SHTF collapse?

I promise you they most definitely ARE!

I have very close friends who own multi-million dollar companies and I can tell you that they’re also the most concerned people I know when it comes to what lies ahead for our country. Read More

02.18.26- And Now, for Something Entirely Different: Justice is Coming
Jame Rickards

It’s too soon to forecast the results of the mid-term elections. I’ll be doing that between July and November when we have a lot more information from which to make reasonable inferences about the outcome.

But it’s not too soon to forecast what will happen between now and this summer. The Republican legal response to years of Democrat lawfare is coming down the track like a runaway train. Get ready for legal and political turmoil to match the financial and turmoil we already see. Put on your crash helmets. Read More

02.16.26- And Now, for Something Entirely Different: Early Signs of Economic Stress
(And A Warning From History)
Peter Reagan

One of the advantages of watching the economy for decades isn’t clairvoyance.

It’s pattern recognition.

If you’ve ever cooked pancakes long enough, you know when one is about to burn – not because you can see the future, but because you’ve seen the signs before. The bubbles change. The smell shifts. The timing feels familiar. Read More

02.13.26- The ‘Empire Killer’ Strikes Again
Nick Giambruno

One of the most potent and underappreciated forces responsible for the downfall of the most powerful empires throughout history has been debt.

While military defeats, political upheavals, and external invasions often dominate historical accounts of the fall of great powers, excessive debt—the “Empire Killer”—has quietly but relentlessly eroded the foundations of empires across the centuries. Read More

02.11.26- The Hidden Cost of Government Spending (It Isn't What You Think)
Peter Reagan

Government overspending has an unintended consequence that rarely gets mentioned: It quietly strips away our options. As debt grows, interest costs crowd out options – leaving fewer ways to meet obligations. This is what happens next…

It never ceases to amaze me how often big decisions are judged only by their short-term results. Read More

02.09.26- Have Fiat Money, Will Tyrannize
George F. Smith

“My fellow Americans, ask not what your country can do for you. Ask instead what your country has been doing to you and is likely to keep doing to you for as long as it can buy with fiat money the votes of a majority.” — Gary North, History Revisionism – High Priests of Woodrow Wilson’s Covenant Read More

02.06.26- And Now, for Something Entirely Different: A Geopolitical Earthquake
James Rickards

Our specialty is forecasting. We use multiple branches of science in our predictive analytic models including complexity theory, behavioral psychology, Bayes Theorem, neural networks (a form of artificial intelligence or AI), inference, subject matter expertise and good old-fashioned intuition to arrive at the market and geopolitical predictions we offer our readers. Read More

02.04.26- Warsh or Not, The Fed’s Next Chair Will Inherit Too Much Power
Nicolas Cachanosky

“Emergency” powers, half a trillion in daily liquidity, and ever-expanding authority create far too much discretion for one individual.

President Trump has nominated Kevin Warsh  to succeed Jerome Powell, whose term as Federal Reserve Chair expires in May 2026. Trump has made no secret of his desire to influence monetary policy. He has consistently called for “Too Late” Powell to bring rates down and seems to believe the president should have a say in interest rate decisions. But the real problem goes beyond Mr. Trump: the next Fed chair will inherit far too much discretionary power. Read More

02.02.26- The True Dollar Price to Redeem an Ounce of Gold
Patrick Barron

In a recent article, I pointed out that the surest path to saving the fiat dollar from destruction was to make it fully redeemable in gold at whatever that price happened to be on a certain day in the near future. Making the dollar “as good as gold” would force the government to pursue spending discipline, knowing that new spending could not be funded by printing money “out of thin air” but by cutting a like amount of current spending, raising taxes, borrowing honestly in the bond market, or some combination of these methods. Read More

01.28.26- De-Dollarization? Gold Over Debt - The End Of The Keynesian
Paper Promise Mirage
Daniel Lacalle

Despite the consensus narrative, what we are currently experiencing globally is not “de‑dollarization,” but a broad loss of confidence in developed economies’ fiat currencies and sovereign debt as a reserve asset for central banks and institutions. This fundamental loss of confidence in the solvency of developed economies’ sovereign issuers is boosting demand for gold. Read More

01.26.26- The Dark Truth About Trump’s Attack on the Fed
Graham Summers

As you no doubt are aware, the Department of Justice is investigating the Fed and Fed Chair Jerome Powell as part of a criminal investigation.

The crime in question concerns Fed Chair Powell’s testimony to congress regarding the Fed’s renovations of its D.C. headquarters. Read More

01.23.26- Trump's Spat With The Fed Is Not About Central Bank Independence
Satyajit Das

The spat between the White House and Fed Reserve Chairperson Jerome Powell, a President Trump appointment, is hardly unusual. Lyndon Johnson and Richard Nixon bullied the central bank to lower interest rates.

Central banks function as the government’s banker, issue currency, maintain the payment system and manage the nation’s currency reserves. They safeguard financial stability acting as a lender of last resort to banks although separate bodies sometimes regulate the financial system. Read More

01.21.26- The Powell Affair and the Limits of The Fed’s Immunity
Alexander William Salter

The latest clash between President Trump, Federal Reserve Chair Powell, and the Department of Justice has been widely portrayed as a constitutional crisis for central bank independence. The DOJ is investigating whether Powell made false or misleading statements to Congress regarding the scope and cost of the Federal Reserve’s multi-billion-dollar headquarters renovation. Powell denies wrongdoing and casts the inquiry as political pressure on monetary policy. Trump denies direct involvement, but has renewed his longstanding attacks on Powell’s performance as Fed chair. Read More

01.19.26- The Myth of a Self-Financed Fed
Jonathan Newman

The estimated costs of the Fed’s building renovation project have risen from $1.9 billion to $2.5 billion. Hilariously, the Fed admits that one of the factors for the revised costs is “differences over time between original estimates and actual costs of materials, equipment, and labor.” Translation: “Looks like we’re not so good at forecasting and stabilizing future price inflation.”

At this point, extravagant government boondoggles are barely newsworthy. A few people batted their eyelashes last week at Trump’s proposal to expand military funding by half a trillion dollars but everyone has forgotten about it now because it was last week and attention spans are measured in seconds these days. Read More

01.16.26- The Central Banking Establishment Is Genuinely Worried About Trump, but Not for the Reasons They Say
Connor O'Keeffe

On Sunday night, Federal Reserve chair Jerome Powell announced that Trump’s Department of Justice had served the Fed with grand jury subpoenas, threatening a criminal indictment of Powell.

The subpoenas concern statements Powell made to the Senate Banking Committee last summer about renovations to the Eccles Building—the Fed’s headquarters in Washington, DC. Read More

01.14.26- Major Attack on Fed’s Independence
P. Radomski

The precious metals market soared on Monday, most likely based on the most recent move in the Trump-Powell fight.

DOJ Subpoenas Spark Dollar Selloff

On Sunday, January 11, the Department of Justice served grand jury subpoenas to the Federal Reserve over Chair Jerome Powell's congressional testimony regarding headquarters renovation costs. Gold immediately surged 3% to record highs above $4,600, the value of the USD Index declined, and the "Sell America" trade returned with a vengeance. Read More

01.12.26- US Fed Gold Revaluation Plan, So Gold Stackers Watch Immediately
Judy Shelton

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01.09.26- 5 Signs the Fed Is Quietly Pivoting Again
Joshua D. Glawson

In a recent episode of the Money Metals’ Midweek Memo podcast, host Mike Maharrey argues we are watching a familiar setup return.

The financial system, he says, increasingly resembles 2019, when cracks began showing after the Fed attempted to tighten policy. Read More

01.07.26- The Fed, Gold, and Crypto: Freedom and Competing Currencies
Alex J. Pollock

Economic freedom should include freedom in money. It’s a freedom even, as we say these days, that advanced economies don’t have. My guiding text for this talk is Friedrich Hayek’s celebrated essay “Choice in Currency.” That is chapter 7 of this excellent book—Hayek for the 21st Century: Essays in Political Economy—that the Mises Institute has published. It’s a classic text, and I hope you’ll all take a look at it if you haven’t. Read More

01.05.26- Will The US Hit A Deflationary Wall Or Will The Fed Inflate Again In 2026?
Brandon Smith

In a system dominated by Keynesian economics the word “deflation” is considered taboo; like saying Donald Trump’s name out loud in a crowded Seattle yoga studio. The screeching reaction you will get is rarely worth the effort of arguing the point. Every element of modern financial policy is designed to prevent a deflationary event. Every central bank policy is designed to artificially drag the economy out of deflation using whatever fiat stimulus is necessary. Read More

01.02.26- The Interest Rate Question
Marc Farber

According to Frank Shostak who wrote for Mises Wire an essay entitled, Financial Bubbles: How they Make Us Poorer, “we rightly associate a bubble activity with an expansionary monetary policy of the central bank. This type of policy gives rise to various undertakings that, in the absence of the expansionary monetary policy, would not have emerged. An expansionary monetary policy - through the lowering of the interest rates via increases in the money supply - diverts savings to various projects that emerged on the back of the expansionary policy..... Read More