John Rubino

John Rubino Articles

Global capital is looking for a place to hide. But after decades of enthusiastic currency creation and financial engineering, there's way too much of it for any one country to accommodate. This mismatch between money knocking at the door...
To say that gold is in a bear market is to misunderstand both gold and markets. Gold isn't an investment that goes up and down. It is money in the most basic store-of-value sense. Most of the time it just sits there, and when its price...
In a very real sense, it is fractional reserve banking and not money itself that is the root of so many of today's evils. Whenever fractional reserves are permitted, the banking system - including the one that exists today throughout the...
Macroprudential Policies of Financial Repression have been steadily accelerating since the implosion of the Dotcom Bubble.
For the past couple of years the European Central Bank has been the only sane inmate in the asylum. Unfortunately, in a crazy world being sane just gets you into trouble. Sound monetary policy leads to a strong currency, which in a...
To Westerners, China has always been a mystery. The huge population of very smart, hard-working people. The succession of unfamiliar, authoritarian governments. The sense that they're playing the long game while we're obsessed with...
2013 was a year in which lots of imbalances built up but none blew up. The US and Japan continued to monetize their debt, in the process cheapening the dollar and sending the yen to five-year lows versus the euro. China allowed its debt to...
Just a quick Thanksgiving morning update on China's gold imports, which continued at extraordinary levels in October. To put the 131 tonnes in perspective:
The last two times they spiked this way, the following year was pretty brutal. See the next chart, which tracks the S&P500 (NYSEARCA:SPY) and margin debt, the amount of money investors are borrowing against their shares of stock to buy...

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In 1934 President Franklin Delano Roosevelt devalued the dollar by raising the price of gold to $35 per ounce.