Introduction "I don't know whether change will come with a bang or a whimper, whether sooner or later. But as things stand now, it is more likely than not that it will be a financial crisis rather than a policy foresight that will force change." - Paul Volker How long can the United States...
Introduction From ghoulies and ghosties And long-leggedy beasties And things that go bump in the night, Good Lord, deliver us! --Old Scottish Prayer Coming back from Canada this morning, where the Canadian dollar is on a breath-taking rise, and reading several lengthy (and very conflicting) reports on...
Premise #3: A Falling Dollar In March of 2002, I wrote an e-letter entitled "King Dollar and the Guillotine," which as the title suggests was a quite negative view of the future prospects for the dollar. Two weeks earlier, I had written a bullish letter on gold, having been bearish (really...