A Surprising Solution… There are rocks and there are hard places. And then there’s the quarry in which the Federal Reserve now struggles to escape. I do not want to bore you with the minutiae of Fed operations but allow me to briefly—and importantly—note that the Fed has two goals: maximum employment (an economic matter) [Read More] …
How to Own Gold in Your Retirement Account
Plus: Gold ETFs to Avoid. Per a Field Notes reader, slightly edited: I want to invest in gold… but I only have pre-tax IRA dollars to invest in gold/silver bullion or in gold ETFs. I’m about to lose my mind with these gold IRA companies. They all operate on the same MO: High pressure sales, try [Read More] …
How $345 Became $42,435
“Patience is waiting. Not passively waiting. That is laziness. But to keep going when the going is hard and slow—that is patience. The two most powerful warriors are patience and time.” – Leo Tolstoy, War and Peace Today—a story of $42,435. And growing. It’s the story of patience, from a Tolstoy perspective. Not the lazy patience. [Read More] …
Dollar Drops From #1 to #7 Preferred Currency
Own This Asset Instead… Just finished nibbling on a freshly baked croissant at a no-name neighborhood joint near my apartment in Lisbon. Washed it down with an iced coffee. Cost: €1.90, or $2.22 in the increasingly funny money that is the US dollar. In other news, Donald Trump has announced —according to a news item [Read More] …
The Problem With America… and the Solution
A Reader’s Letter Got Me Thinking… I’m not the only who feels it. I mean, I never really thought I was the only one, but it’s nice to know officially that I am not alone. What I’m on about here is a letter to El Jefe that landed recently. It was from Tony. He wrote [Read More] …