I can control my destiny but not my fate. Destiny means there are opportunities to turn right or left, but fate is a one-way street. I believe we all have the choice as to whether to fulfill our destiny, but our fate is sealed – Paulo Coelho Some people in the US are destined to […]
If you want to know the end, look at the beginning – African Proverb We’re getting close to the point where the authorities lose control of the markets but I don’t believe we’ll get the downturn until the economy is undeniably in recession. The above quote gives the answer. We started this rally off the […]
The hardest tumble a man can make is to fall over his own bluff – Ambrose Bierce I’ve been reading analyses about the death of the dollar for thirty years. Over that span, I witnessed the death rattle of the monetary aggregates and the conversion of the Federal Reserve from stewards of money supply to […]
For us in Russia, communism is a dead dog, while, for many people in the West, it is still a living lion – Aleksandr Solzhenitsyn In the first installment of this series, I discussed my belief that China lacks the level of US dollar reserves that are reported in their Currency Reserve Account. In the second […]
We shall not grow wiser before we learn that much that we have done was very foolish – Friedrich August von Hayek In the first installment of this series, I discussed my belief that China lacks the level of US dollar reserves that are reported in their Currency Reserve Account. In this piece, I would […]
What is wanted is not the will to believe, but the will to find out, which is the exact opposite– Bertrand Russell I would like to know how many dollars are in China’s Reserve Account but the number is a state secret. For a nation that has been as successful as China in employing mercantilist […]
