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For the last several days I’ve been speaking at an investment conference organized by my friends Robert Helms and Russell Gray. It’s been great so far, and my fellow speakers here include the legendary Robert Kiyosaki, G. Edward Griffin, Peter Schiff, and many more. One of the key themes so
In the late in the 5th century BC, the government of ancient Rome came up with a new idea that has lasted for thousands of years. I’m not talking about their roads, republican form of government, or water sanitation. Their bold idea was to start paying retirement benefits to Roman
[Editor’s note: This letter was written with Tim Price, London-based wealth manager and co-founder of Price Value Partners.] It was just over two years ago that “The Grilled Cheese Truck, Inc.” began trading in the US stock market under ticker symbol GRLD. GRLD was exactly what it sounds like– a
September 10, 2008 was one of the last “normal” days in the world of banking and finance. That afternoon, the US Federal Reserve published its routine, weekly balance sheet report, indicating that the central bank had total assets worth around $925 billion. Just a few days later, Lehman Brothers filed
Sometimes you have to marvel at the absurdity of the financial universe in which we live. On one side of the Atlantic, we have the United States of America, which triggered yet another debt ceiling disaster last Thursday when the US government’s maximum allowable debt reset to just over $20
In 1988, a bank called Guardian Savings and Loan made financial history by issuing the first ever “subprime” mortgage bond. The idea was revolutionary. The bank essentially took all the mortgages they had loaned to borrowers with bad credit, and pooled everything together into a giant bond that they could
During the winter of 1796, a Frenchman named Eugene Francois Vidocq was sentenced to eight years of hard labor after being convicted of document forgery. It was a remarkably harsh punishment for a non-violent crime, especially in Vidocq’s case as there was not even a victim. Yet this took place
I serve on the Board of Directors of a large Singapore-based company that’s in the gold and silver business. And, last night during our quarterly conference call, the management team gave me a lot of intriguing information. Sales of physical gold and silver are collapsing across the entire industry. At
Last night a good friend of mine came over for dinner. He’s originally from Poland, and growing up there he heard a lot of bizarre stories about what it was like during the Nazi invasion and World War II. In 1939, even as 1.5 million German soldiers prepared to invade,
Today I’m going to introduce you to my friend Ben, easily one of the most unique, intelligent people I know. I first met Ben at my summer Liberty and Entrepreneurship camp several years ago. He had recently dropped out of Harvard after winning the prestigious Peter Thiel fellowship, which has
It happened again– another spying scandal in the Land of the Free. Yesterday Wikileaks released 8,761 CIA documents detailing the agency’s hacking of smart phones, routers, computers, and even televisions. These files reveal that the CIA can and has hacked devices that were supposedly secure– iPhones, iPads, and Android devices.
[Editor’s note: This letter was written by Tim Price, manager of the VT Price Value Fund and frequent Sovereign Man contributor.] It was at the height of the dot-com bubble in 1999 that The Onion famously satirized the epically irrational stock market: “Anabaena, a photosynthesizing, nitrogen-fixing algae with 1999 revenues
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