The causes of the Great Depression have been debated for decades. The problem with all of the analysis is this same attempt to reduce the cause to a single event. In school, we read the Great Crash by Galbraith. He was a socialist so he blamed the corporations and never bothered to ever even mention the […]
QUESTION: Mr. Armstrong, what were the gold custom units issued by the Bank of China with the image of Sun Yat-sen. PHR ANSWER: The Customs Gold Unit (CGU) was the first peg to the US dollar. Here we have China issuing currency backed by the US dollar. It was a currency issued by the Central Bank of […]
QUESTION: Were the Crusades inspired by economics? You mentioned how Venice looted Constantinople. Thank you for making history interesting KR ANSWER: To understand the Crusades, we have to first look at what was the original justification. The Catholic Church encouraged pilgrimages from the 4th century, but they began really during the 1st-2nd century and built in […]
Gold rings were discovered in Ireland and they seem to be uncertain about their original use. The Celts did not create their own coins for many centuries. They used ring money which is commonly found throughout Europe, north of Italy. Celtic ring money is typically bronze. However, it is known that the Minoians sailed into […]
COMMENT: Just to chime in, I discovered the 6 month rule when I tried to fly from Toronto to LA. They would not let me on the plane. REPLY: It appears that if you are Canadian and drive across the border that seems to be OK. But if you fly, then they do all the checks […]
It just looks as though the markets were ready for the trade tariffs as they took them and just moved on! After an initial wobble as sanctions came into effect at US midnight yesterday, the buying appeared and markets were looking forward to US Employment data. Eventually, after much debate and anxiousness equity markets improved […]
QUESTION: Mr. Armstrong; I recently watched the Conspirator about the assassination of Lincoln and the military trial they held for the assassins. Secretary of War Stanton was a ruthless and a vengeful man as portrayed in the film. Your case came to mind how they would never allow you to go to trial and it […]
Hillary used a private email because that would not be “discoverable” without a subpoena of her personally. Her fundraising for the Clinton Foundation was all protected by her private emails and it allowed her to solicit money from foreign governments. As soon as she lost, the funding stopped. The revelations from the Inspector General […]
If there is a possible scam, someone will always figure it out. In Australia, they hunt money with unbelievable audacity and hand out tickets to motorists for everything. Someone has figured out a way to beat the government at its own game. They are cloning valid license plates and then racking up the fines. A BMW […]
Another weak session for Asia even as some markets did attempt a bounce. The mood in general remains negative with core China Shanghai down another 1% today as the US/China tariff issue possibly are enacted Friday. China has already publically stated they will respond and not be proactive, but the benefit of the time […]
