Jim’s Quote of the Day:

"The paper money disease has been a pleasant habit thusfar and will not be dropped voluntarily any more than a dope user will without a struggle give up narcotics… I find no evidence to support a hope that our fiat paper money venture will fare better ultimately than such experiments in other lands…" – Nebraska Congressman Howard Buffett, 1948 (The father of Warren Buffett.) As quoted in Financial Reckoning Day.
















Jim’s Quote of the Day:

"In Italy, for thirty years under the Borgias, they had warfare, terror, murder and bloodshed, but they produced Michelangelo, Leonardo da Vinci, and the Renaissance. In Switzerland they had brotherly love, they had five hundred years of democracy and peace, and what did they produce? The cuckoo clock." – Orson Welles as Harry Lime in The Third Man (Screenplay by Graham Greene)










Jim’s Quote of the Day:

“Naturally, as with every opportunity, equally true is the fact that the country is standing on the edge of a cliff which threatens to take us downhill if we do not move boldly forward with speed to address most our shortcomings.” – Zimbabwean Reserve Bank Governor Gideon Gono, describing Zimbabwe’s economy, in a speech on his monetary policy in late January, 2006. (This statement was a classic Freudian slip, since Zimbabwe’s economy is indeed “moving forward with speed” off  “the edge of a cliff.” The Zimbabwean dollar’s inflation rate recently jumped back up to 585%, and climbing.)