John Pugsley is chairman of The Sovereign Society, author of numerous books and reports on economics, investment and politics. He's also former editor of John Pugsley's Journal. John's first book, Common Sense Economics (1974), sold over 150,000 hardcover copies. In that book he accurately predicted the inflationary explosion that followed the final U.S. abandonment of the gold standard in the early 1970s.
History tells us that gold is the “ultimate antidote to fiat money” says John Pugsley. He says gold’s dollar price relative to other goods is now higher than the long-term trend. But no one really knows how much the buck has been inflated in recent years. And as price inflation returns “with a vengeance”, the gold bull run should resume.
John Pugsley says there are some great opportunities coming out of this chaotic market. Wild, irrational swings are distracting from the simple rules of value investing. John has three simple criteria for finding the best long-term profit opportunities out there today.
The collapse of the sub-prime mortgage market has had one positive effect: It has exposed the flimsy scaffolding propping up the financial system.
As you know, the biggest banks worldwide have owned up to enormous losses, now more than US$300 billion and still counting, over the last year. That includes the failure and bailout of the fourth largest U.S. investment bank, Bear Sterns.