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[Editor’s note: Tim Price, frequent Sovereign Man contributor and Director of Investment at PFP Wealth Management in the UK, is filling in for Simon today from London, England.] Like Lehman Brothers before it, Cyprus may well come to be seen not so much as the cause of further crisis but
Reporting from Santiago, Chile Sometimes I wake up and I’m just astounded at how quickly things are unraveling. Just look at a few big picture points: The Russians are now wagging their fingers at Europe, comparing the EU to the Soviet Union for trying to plunder Cypriot bank accounts. This
Reporting from Santiago, Chile In 1729, that Jonathan Swift (of Gulliver’s Travels fame) penned a famous satirical essay from England entitled “A Modest Proposal.” It’s still famous to this day as mandatory reading in many a high school literature class. As you may recall, Swift addresses the problem of the
[Editor’s note: Tim Price, Director of Investment at PFP Wealth Management and frequent Sovereign Man contributor is filling in from London, England while Simon is touring agricultural property today.] If there was ever a policy manual on how to deal with recession, the Fed and ECB’s copies have fallen out
Reporting from Sovereign Valley Farm, Chile As you no doubt have heard by now, the government of Cyprus announced Saturday morning (when the banks were closed) that they would impose a ‘levy’ on bank deposits. Originally they announced levies of 9.9% for accounts above 100,000 euros, and 6.7% for accounts
March 15, 2013 Santiago, Chile Earlier in the week, I wrote to you about an Argentine car rental agency that had started accepting Bitcoins as a means to bypass local capital controls. We received a lot of questions about the article, the most common of which was “What in the
Reporting from Santiago, Chile Five-year plans in the Land of the Free? Apparently it’s not that far off from reality. Yesterday Senator Tom Harkin introduced S. 544, “a bill to require the President to develop a comprehensive national manufacturing strategy.” In effect, Senator Harkin wants the President to centrally plan
Reporting from Santiago, Chile Several hundred miles east of Kinshasa in the Democratic Republic of Congo, the mighty Kasai river forms the boundary between two little known tribes of central Africa– the Bushong and the Lele. Ostensibly there should be scant difference between the two; they’re separated only by a
Reporting from Santiago, Chile There is no such thing as a ‘good’ fiat currency. Any model in which a tiny banking elite wields dictatorial control over a nation’s unbacked paper money supply is deeply flawed. The concept itself is dangerous, and comparing fiat currencies is like debating which is the
Reporting from Sovereign Valley Farm, Chile It’s a pretty sad state of affairs in the Land of the Free when they have to pass a law making it illegal for the government to assassinate its own citizens. Yet that’s exactly what’s happening. Late last week, US Senator Ted Cruz introduced
Reporting from Santiago, Chile The Dow Jones Industrial Average, one of the key benchmarks of the US stock market, has soundly surpassed its all-time high. And most of the investing world is toasting their collective success and celebrating the recovery. It’s a funny thing, really. Most investors only think in
Over dinner with a friend in Busan, South Korea yesterday, the conversation turned to residency and second citizenships. My friend is a successful entrepreneur who’s lived in South Korea ever since I first met him in 1996. Right now, he has an investors’ visa. The requirements are simple; when he
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