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August 15th Last Saturday we reached the 49th anniversary of the collapse of the Bretton Woods monetary system. It was on August 15th 1971 that Richard Nixon confirmed he was “temporarily” closing the gold redemption window. Without the formal anchor of a scarce resource, debt and inflation have run wild since then with the following

Your clever friend I hear about your clever friend a lot. He (and it is always he) has a lot to say about bitcoin. In general he is highly educated, normally at a cost of more than $150,000 for the many letters appending his name. He has a highly paid job in an unspecified low

You are here 1. Global debt now 280% of GDP. Bond yields at all time lows. 2. Federal Reserve balance sheet in vertical print mode. Now at $7 trillion.   3. ECB balance sheet in vertical print mode. Now exceeds 50% of EU GDP.   4. Here’s the NASDAQ. FANGMAN stocks now worth more than

Wirecard Wirecard Bank was a hero of the banking community in Germany. They grew very rapidly by servicing payments for niche operators around the world. They were part of the elite German DAX30, among the largest companies in the country. The full story of their demise is yet to be told but it boils down

The Gold and Bitcoin Fund As regular readers know, we are rather keen on bitcoin here at ListedReserve. The thesis is simply that so few things have known supply and provable scarcity. Some investors though are more comfortable with gold because it has tens of thousands of years of history and is a proven inflation

It’s a Scam Rarely these days do we encounter the feedback “bitcoin is a scam”. It does happen though including this week. The argument was along the lines of, it’s only valuable as long as people say it is, otherwise it isn’t.  A bit like gold then. Nobody ever decreed gold as money, people just

WHERE TO INVEST? This used to be a reasonably easy question to answer for a financial adviser. Perhaps a mix of equity and bonds, perhaps some small leverage depending on your age. We’ll change the mix as you get older. Thanks, that will be $5,000 a year, oh and here’s some life insurance you didn’t

Goldman Sachs Remember when Goldman Sachs were the ‘Masters of the Universe’? Their cult carried so far that the Twitter account @goldmansachselevator had over a million followers. It purported to post overheard conversations in the elevators of the investment bank. It was all part of the mystique. It was great and it was funny: Most