It's really fortunate for the journalists at The Wall St. Journal and the Financial Times that there is no consensus on the causes of this crisis, for they will be able to sell a lot of words to their bosses at the papers. However, the cause of the crisis is quite plain

The enormous increases in cash available at the banks are insignificant in comparison with the prevailing enormous shorts on cash and long positions in debt. The squeeze is implacable. In effect, everyone on God’s green earth is trying to obtain cash – which means going long on cash – and trying to pay down debt – which means shorting debt

The fiat dollar – unanchored to gold – was the greatest strategic gift that the US could have made to China. Now, they have a huge industrial base and the US has Oh, so little!

Banco de Mexico´s Central Bank, has expressed the opinion that the monetization of the “Libertad” silver ounce would be inflationary. Its opposition to the monetization of the silver ounce is dogmatic, ideological and lacking in any logical support

Suddenly, since August, Reserves have stopped growing. What is the significance of the drastic change in the growth-trend of International Reserves, from explosive growth, to the sudden beginning of a contraction?