The Great City of Uruk
The ancient people of Uruk – who lived in modern-day southern Iraq more than 5,000 years ago – didn’t seem terribly interested in bequeathing colorful stories of their civilization to history.
Rather than memorialize abundant tales of their immense works, or chisel countless tablets embellishing stories of their military victories, the main artifacts they left behind to modern historians are rather mundane market accounts and grain prices.
It would be as if the only thing to be locked into a time capsule from our own era were the stock section of the Wall Street Journal. It would hardly be a reasonable description of our time.
Nevertheless, the ancient scribes of Uruk went to great lengths to record financial and commercial transactions. And one of the things we can see from their civilization is that they used silver (and NOT gold) as the primary medium of exchange. Continue reading
Gold prices spiked in October, reaching a new record high of over $4,300 per ounce. And while they’ve declined slightly since that point, the yellow metal is still selling at significantly higher prices than just a few years ago.
There’s a $38 trillion time bomb ticking in the heart of the American financial system, and in 2026, it’s going to detonate, not with the slow burn of a typical recession, but with the devastating speed of a controlled demolition.
Why are seasoned investors bidding farewell to gold and embracing silver?
Looking at the above title, the reader may conclude that he has begun to read an article that he might better save until he has a holiday weekend in which to read it. And there can be no doubt that volumes could be written describing the Fed and its inner-workings. For readers who do seek a comprehensive description of the Fed, I can recommend no source more highly than 
For more than 125 years, the United States had a gold-coin, silver-coin monetary system. No, it was not a paper-money system backed by gold, as so many mainstream commentators have been taught to believe. It was a system in which gold coins and silver coins were the official money of the American people.
Do you remember when we were told that the “Reagan deficit” was going to destroy the economy? In the past two and one-third months ending October 15 the US national debt increased by $1 trillion. That is five times greater in a mere 71 days than David Stockman’s exaggerated “$200 billion annual deficits as far as the eye can see” that he falsely attributed to President Reagan’s tax rate reduction. 
