In January 1934, the dollar was devalued against gold by 69% when the US federal government arbitrarily changed the definition of the dollar. What had been 23.22 grains of fine gold ($20.67 per ounce.| James Turk Blog
Monetary and banking crises are a recurring event. Sometimes their impact is contained, like occurred when three California banks collapsed in early 2023. Other times – like the Great Depression – the…| James Turk Blog
Gold may seem overvalued because of the recent record highs in its 6-decade ascent from $35 to $2500, but prices – like appearances – can be deceiving. What’s more, the value of any asset is more…| James Turk Blog
“How did you go bankrupt?” Bill asked. “Two ways,” Mike said. “Gradually and then suddenly.” Ernest Hemingway, The Sun Also Rises, 1926. The financial position of the federal government of the United…| James Turk Blog
In 1922 Benito Mussolini became prime minister of Italy, putting that country on a path that had global ramifications. He was the world’s first fascist leader. Other fascists soon followed with…| James Turk Blog
Some interesting data on housing prices in the United Kingdom(1) was recently published by Savills, one of the world’s leading property agents. The important messages that can be drawn from this data…| James Turk Blog