10 YEAR ANNIVERSARY
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Beware: Monetary Geniuses At Work

Beware: Monetary Geniuses At Work

In Washington DC, Treasury Secretary Scott Bessant buffs his nail on his shirt as he intervenes in support of the Japanese yen. Well, Japan is the leading foreign creditor of Washington’s borrowing. It holds $1.2 trillion in U.S. Treasury securities, and a country like ours, the world’s largest debtor, depends on the kindness of foreign lenders. Any meaningful liquidation of those holding would be a market shock that would drive interest rates higher. So, Scott Bessent is protecting the strained Treasury market with clever currency machinations. The secretary, like the president he serves,...

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Really, O’Reilly? Bill Demands War Crimes In Iran

Really, O’Reilly? Bill Demands War Crimes In Iran

Hasn’t Bill O’Reilly done enough harm beating the drums for America’s failed foreign wars? But he’s still around somewhere, trying to top his earlier act with more of his trademark fever-swamp rants, now offering advice to President Donald Trump on the Iran War. His latest advice is the stuff of world historic war crimes. The danger is acute. The president watches Fox News “incessantly." No one is real in Trump-world unless they are seen on TV. Those who are real assume a larger-than-life influence if they’ve been Fox fixtures. The passageway between Fox News and the Trump administration is...

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Rehabilitating Nixon? Not So Fast!

Rehabilitating Nixon? Not So Fast!

There is a lot of Richad Nixon rehabilitation going on these days. Before we get too far down that road, we should note that this month marks the fifty-fifth anniversary of one of the most pernicious acts of monetary destruction by modern presidents. On August 15, 1971, President Nixon announced a sweeping set of economic policies, his eerily Soviet-sounding “New Economic Policy.” Today’s sympathy for the thirty-seventh president has something to do with a welcome recognition of the Deep State’s hand in his removal from office. In June, Vice President J.D. Vance spoke at the Nixon Library,...

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Our Currency Icons and America’s National Character

Our Currency Icons and America’s National Character

In what is the monetary equivalent of tearing down statues, the British have decided they must replace iconic images on their currency. Out of an apparent fear of offending the stampede of human beings who have chosen to abandon their own homelands to live in Great Britain, the historic images on British currency of people instrumental in making that nation what it is, have been forced to yield to images of animals. Foxes, badgers, and hedgehogs are in the ascendency. Our problem in the United States is somewhat different. It appears that the iconography of our currency will be made to...

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Mousetrapped: Trump Takes the Bait

Mousetrapped: Trump Takes the Bait

The mousetrap motif plays a major role in tales and literature, from Shakespeare’s Hamlet who set one to find his father’s murderer, to Agatha Cristie’s famous play, The Mousetrap, that opened in London’s West End in 1952 and is still running today 30,000 performances later. The mousetrap theme is ancient and enduring because the idea is so simple, yet utterly transparent. A trap is baited. Taking the bait leads to the victim’s entrapment or destruction, as anyone can later see. Which is basically how we got into the Iran war. No one expects mice to be smarter than the trap. We should,...

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Plunder, War Profiteering, and Spirit Airlines

Plunder, War Profiteering, and Spirit Airlines

You don’t even have to turn on the financial news. You can tell whether oil prices will be up or down in the morning by simply reading the president’s midnight social media posts. If he announces confidence in the ceasefire with Iran, oil will be down in the morning. If he posts about Iran glowing in the dark or about the stone age, you don’t want to be short petroleum. Here’s a representative example from May 6, posted by The Kobeissi Letter, a capital market commentary: "At 3:40 AM ET today, nearly 10,000 contracts worth of crude oil shorts were taken without any major news. This is...

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Trump’s Idolatry of Israel Is Too Clever By Half

Trump’s Idolatry of Israel Is Too Clever By Half

Some called it "Operation Grim Beeper." That may seem clever to adolescents, but there is nothing funny about the promiscuous mutilation of human beings. On the afternoon of September 17, 2024, thousands of handheld pagers exploded simultaneously across Lebanon. Their purported target? Hezbollah operatives. Forty-two people, including children, were killed by the indiscriminating devices. More than 3,500 were injured in an instant, the booby-trap blast blowing open abdomens and claiming fingers and eyes. Although purchased from a Taiwan company, the pagers were produced by a shell company...

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What I Learned Talking About the Empire

What I Learned Talking About the Empire

Are the people as clueless as the Deep State expects them to be? You have to wonder. Standing on the tarmac in France before meetings with European foreign ministers, Secretary of State Marco Rubio explained to reporters that for Iran to ever get nuclear weapons would be crazy. “Look what they're willing to do with the weapons they have now.” It doesn’t seem that out of the ordinary that a country attacked repeatedly by the most fearsome nation on earth and its companion war provocateur should want to use the weapons in has now in self-defense. Rubio knows who attacked whom and is...

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