At this week’s Bygone Relics show: The markets do continue their rally! So, we will never have a bad day? C Thomas responds with data. Vacation is over and so for the last two weeks we have discussed Lionel Messi and his suffering and his ability to overcome suffering. Why you might ask? Sometimes you …
Bygone Relics
The US is welcoming Messi. It is a good time to remember a bit of his story. In the last piece, we left off talking about how Messi was always in the huge shadow of Diego Maradona in the soccer crazed minds of Argentina and when Messi had again lost in a Copa, this time …
Sometimes the smallest men cast the largest shadows. Diego Maradona was a mere 5’5” yet his shadow overwhelmed Lionel Messi for most of Messi’s life. Messi grew to be beloved in Argentina, but Maradona had ascended one level higher, a world cup champion level higher. It was the magic with the ball, his ability to …
In the previous episodes of our Bygone Relics show we have talked about the economic destruction of money and a country’s currency. The question we answer in this episode is: How do you recover from such destruction? Darkside of the moon dark I am today. My soul must be in the Southern hemisphere on their …
At Bygone Relics show, we continue discussing five of the very worst hyper-inflations and the ramifications of a currency collapse and juxtapose these historical events against the US situation today. Some of these numbers are eye wateringly high and nobody did it worse than Hungary. The worst inflation in history was the Hungarian Inflation after …
Last week’s thought experiment was to imagine hyper-inflation and what you would do to protect you and your won from the currency calamity. What would you buy? Invest in? Would you move? 100% inflation isn’t even really considered hyper-inflation by economists as that designation usually is at least 50% a month, but these nerds can …
The US has raised the debt ceiling and avoided defaulting on its debt. That’s a good thing, right? For the 90th time or whatever the number is now, we have raised the debt ceiling. America always pays its debts is a popular rhetoric, but I have to give credit to Peter Schiff who likes to …
Last week we discussed depression and how a contraction of the money supply was one of the key errors made by the Federal Reserve and how it helped cause the Great Depression. We also discussed how the crazy spending of the previous decade helped bring it about. Huge credit was extended to consumers, and they …
What does depression mean? Where are we at the economic cycle? Are the banks in bad shape? Why? Will we see a bank run or is what we are having a “bank walk” ? How likely for the banks to get a hit from the real estate loans they had extended? Will the downtown office …
I again want to discuss where we are precisely in G. Michael Hopf’s quote and how we got here. We are in the last stanza for sure. This should help us understand the debt ceiling. There is a famous scene in Sergio Leone’s gangster epic Once Upon a Time in America where one of the …