Cyprus may imposes losses of as much as 60 percent on Bank of Cyprus Plc accounts exceeding 100,000 euros ($128,000) as part of an aid deal to stop the country from going bankrupt. Customers will have 37.5 percent of their deposits above this amount converted into shares with full voting rights and access to any future Bank of Cyprus dividend, the Nicosia-based central bank said in an e-mail... read more

The Russians are taking a page from the Europeans book (and not a positive one for libertarians). Given the substantial criminal activity and illegal entrepreneurship in Russia - the grey and black economies account for 50–65 percent of GDP and estimates that about $50 billion was taken out of Russia illegally in 2012 alone - the great and glorious leaders have decided to impose restrictions... read more

Eric King: “John, I have to ask you about this Cyprus disaster and the fears all over the world now that theft of bank deposits has become a reality?” Mauldin: “It (Cyprus) seems to be on everybody’s mind and for good reasons. This was not expected. And I really think the EU was pretty ‘ham-handed’ (in how they have handled this crisis). There was an implicit, it wasn’t ex... read more

"All this money printing, massive debt, and reckless deficit spending – and we have 2% inflation? I'm beginning to believe that either the deflationists are right, or the Fed's interventions are working." – Anonymous Casey Research reader The CPI, in our view, does not accurately measure inflation, which accounts for some of the discrepancy our reader is pointing out. However, the prope... read more

While inflation seems to be on everyone’s mind these days, misconceptions abound. Indeed, few concepts in economics are as misunderstood as inflation. This month I take a look at some common questions about inflation, and a few that I wish more people were asking. Is hyperinflation coming to the U.S.? No. Hyperinflation arises only under the most extreme conditions, suc... read more

Bloomberg reported recently that Russia is now the world's biggest gold buyer, its central bank having added 570 tonnes (18.3 million troy ounces) over the past decade. At $1,650/ounce, that's $30.1 billion worth of gold. Russia isn't alone, of course.  read more

Angry Cypriots queued to withdraw money on Thursday as banks reopened for the first time in nearly two weeks under a regime of strict capital controls and with officials bracing for a huge outflow of deposits. There were short orderly lines at most branches when doors opened at midday (10am GMT) and no signs of panic as depositors waited to access their accounts. However, many people waitin... read more

One would think that certain truths are obvious by now. It should be obvious, for example, that there are consequences to living beyond your means. It should be obvious that there are consequences to a long history of spending unsustainably and accumulating mountains of debt. And it should be obvious that there are consequences to dealing with such problems by spending more and accumul... read more

Reclaiming the Founding Fathers’ Vision of Prosperity

To understand the core problem in America today, we have to look back to the very founding of our country. The Founding Fathers fought for liberty and justice. But they also fought for a sound economy and freedom from the tyranny of big banks: “[It was] the poverty caused by the bad influence of the English ban... read more

Today one of the wealthiest people in the financial world warned King World News that in the aftermath of what has taken place in Cyprus, investors have to be very careful going forward so they are not wiped out financially. Here is what Rick Rule, who is business partners with billionaire Eric Sprott and the CEO of Sprott USA, had to say about Cyprus and what investors should expect going forw... read more