La Fed

Kevin Warsh may talk tough, but Mark Thornton argues the Fed’s real mandate hasn’t changed: finance Washington, protect Wall Street, and let inflation grind down everyone else.

Mark Thornton explains the gold and silver selloff.

The “bottom 99%” aren’t losing to markets: they’re losing to the Cantillon effect.

Gold and silver whip around with war and liquidity stress, while the Fed quietly rolls out “emergency” support. Mark Thornton explains what’s driving the moves.

Two interviews, two timelines: before and after the Middle East war. Mark Thornton explains what the conflict means for oil, inflation, and why gold and silver still signal deeper trouble ahead.

The aggregate net worth of all Americans is $170 trillion. Total government liabilities (on and off the books) are $160 trillion. Rick Rule: "I just don't understand how that great big large number goes away." Neither does the Fed.

War in the Persian Gulf doesn’t just mean pricier gas. It can snap hidden supply chains that keep modern life running, from fertilizer and copper to plumbing repairs.

The Shiller CAPE ratio has only been higher once in 150 years. The Buffett indicator is 2.5 standard deviations above trend. 40% of the S&P 500 is in just ten stocks. Wall Street sees nothing wrong.

Mark Thornton reviews John Mearsheimer’s Why Do Politicians Lie? and connects political deception abroad to the Fed-driven distortions now warping markets, money, and the working class.

War should be good for gold, so why is it falling while oil climbs? Mark Thornton explains.