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July 2011

Recs

14

Gold

July 30, 2011 – Comments (11)

Here is an update on my long term Gold chart. Again, simply look at a monthly chart and tune out all of the noise. Gold is volatile and the daily ups and downs are going to get worse from here on out. My advice: ignore them.  [more]

Recs

5

What is pro-cyclicality?

July 29, 2011 – Comments (4)

Excellent post at Credit Writedowns. Absolutely dovetails with my last post: The danger is from the spending cuts, not the potential downgrade - http://caps.fool.com/Blogs/the-danger-is-from-the/620224  [more]

Recs

25

The danger is from the spending cuts, not the potential downgrade

July 28, 2011 – Comments (60)

This is a very contrary opinion that nobody here will agree with. But I also think it is correct.  [more]

Recs

11

Margin Debt, the Stock Market, and QE

July 27, 2011 – Comments (6)

Doug Short (whom most of you know) always complies data and interesting/useful studies at his excellent website. This study is another good one. Please read the whole thing, I will just be highlighting a small part of the post  [more]

Recs

16

Treasury default requires reprogramming

July 26, 2011 – Comments (0)

David, Chris and I had an excellent debate on checklist's blog: http://caps.fool.com/Blogs/economics-thought-excercises/616802. In particular, Chris and I had quite a lot of back on forth on the point of the mechanics of government spending. Specifically of the point that I am making that Government spending is the source of *net* financial assets within the private sector because it is the only entity that can create an asset without generating a corresponding liability (taxation does the opposite, it removes assets from the private sector). The mechanics are that the US Treasury credits private sector bank accounts directly, which is does by adjusting numbers in a spreadsheet. The idea that the Treasury needs to wait on 'bond revenues or tax revenues' is a fiction in our current system (this is true under a Gold standard, it is completely false in a fiat currency standard).   [more]

Recs

13

Gold's new leg of outperformance against Equities?

July 21, 2011 – Comments (3)

Looks like it to me:  [more]

Recs

18

Another US Federal Deficit Poll

July 18, 2011 – Comments (5)

I put together another quick poll and was interested in what the community thought on this issue. Also feel free to comment below with any additional thoughts, especially if you selected 'None of the Above'.  [more]

Recs

11

US Federal Deficit Poll

July 14, 2011 – Comments (0)

I put together a quick poll and was interested in what the community thought on this issue. Unfortunately the MF blog form does not allow script HTML, so I can't embed it here. But just click on the link and it will take you to the Poll:

Deficit Poll

Also feel free to comment below with any additional thoughts, especially if you selected 'None of the Above'  [more]

Recs

8

More on the Non-Existent US Government Bond Market Vigilantes

July 12, 2011 – Comments (8)

Goes in line with a few of my recent posts:

The Phantom Bond Market Vigilantes -- http://caps.fool.com/Blogs/the-phantom-bond-market/611923
What would happen if the US Federal Government stopped issuing bonds? -- http://caps.fool.com/Blogs/what-would-happen-if-the-us/612372
Follow up: What would happen if the US Federal Government stopped issuing bonds? -- http://caps.fool.com/Blogs/follow-up-what-would-happen/612905  [more]

Recs

11

Follow up: What would happen if the US Federal Government stopped issuing bonds?

July 10, 2011 – Comments (17)

I got a few good commments on my other blog (here, here is the original Caps post: here) that allowed we to expand on some of my points. I think they are worth sharing  [more]

Recs

13

What would happen if the US Federal Government stopped issuing bonds?

July 08, 2011 – Comments (6)

I have talked about this issue many times in some detail:  [more]

Recs

12

The Phantom Bond Market Vigilantes

July 07, 2011 – Comments (5)

Excellent piece. Absolutely right on.  [more]

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