Daily Archives: September 1, 2012

Reality Check: 20120828

Here is Gary’s essay,  Gold Commission 2. For more by Gary, visit his website at http://www.garynorth.com/.

We are republishing this essay on the topic of gold-backed currency in order to capture it should we want to write on the topic in the future. The reader may wish to read it in its entirety below. We will offer no further comment.

Reality Check: 20120831

Here is Gary’s essay,  The Great Default is Statistically Inevitable. For more by Gary, visit his website at http://www.garynorth.com/.

In this essay, Gary states that [t]here is no statistical possibility that the government of the United States will not default on its obligations to most Americans within their lifetimes. He cites the work of Prof. Lawrence Kotlikoff of Boston University, who publishes an annual update on the US’s unfunded liabilities which this year reached $222 trillion (U.S. Is Bankrupt and We Don’t Even Know It: Laurence Kotlikoff). In short, a default will occur in time and there will be massive suffering by those unprepared which is most retirees.

The Real Reason Behind Oil Price Rises – An Interview with James Hamilton

The topic of oil we view the same as we view the topic of climate, sufficiently large and controversial that it could consume every waking hour we have and we might only be scratching the surface. So we stick to publishing only the occasional piece. We felt that this interview with James Hamilton that we were given permission to republish was a particularly good overview of key issues including:

  • Why we shouldn’t get too excited with the shale revolution
  • The “Real” cause of high oil prices
  • The incredible opportunity presented by natural gas
  • Why long term oil prices will creep upwards
  • The geopolitical hotspots that could cause an oil price spike
  • Why sanctions could cause Iran to lash out
  • Why speculators and oil companies are not to blame for high oil prices.
  • Changes we can expect to see under a Romney Administration
  • Why Short term oil price forecasts are worthless
  • Peak oil & Daniel Yergin

The interview conducted by James Stafford of Oilprice.com follows:

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