Please, click here to read this article in pdf format:Â December 18 2012 As anticipated in my previous letter, today I want to discuss the topic of high or hyperinflation: What triggers it? Is there a common feature in hyperinflations that
Financial repression
Human action under ultra-low interest rates
(republished from “A View from the Trenches“, September 2nd, 2012) Click here to read this article in pdf format:Â September 2 2012 Over the past months (and particularly in the last weeks), we have increasingly read negative comments on the ongoing
On gold, stocks, financial repression and the KreditAnstalt of 1931
Please, click here to read this article in pdf format: March 18 2012 We are back from Washington DC and realize that we could choose different titles for today’s letter. Let’s try a few… Title No.1: “The market proved us wrongâ€
The game changed on Thursday, June 23rd
Read this article in pdf format: june-27-2011 Thursday, June 23rd, 2011 was a day of infamy: The International Energy Agency surprised the world by announcing that 60MM barrels of oil would be released over 30 days, as an answer to



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