Turning Hard Times Into Good Times

Alasdair Macleod and Dr. Quinton Hennigh return. Alasdair wrote the following in his July 21 weekly missive: “We are now seeing the initial stages of a currency, credit, and banking crisis develop. Driving it are an inflation of prices, contraction of bank credit and a pathological fear of recession. One can imagine that the major central banks almost wish a mild recession upon us so that they can keep interest rates suppressed and bond yields low. “The key to understanding the course of events is that the cycle of bank credit is turning down, and this time the factors driving contraction are greater than anything we have experienced since the 1930s, and possibly in all modern monetary history. “This article joins the dots between inflation and recession and puts the relationship between money (that is only gold), currencies, credit, and commodity prices into their proper perspective.” We will ask Alasdair to paint a picture of the economic landscape that he envisions and seek his advice as to how to navigate