Helping our clients achieve superior risk-adjusted portfolio performance
is Merk's mission

In blocking Cook's firing as Fed governor, SCOTUS says 'for cause' "must consider the Federal Reserve's unique historical status and role."
supremecourt.gov/opinions/25pdf…

I've marveled at the recent series of WSJ articles on how the wealthy are suffering. Just when I thought it couldn't be topped, WSJ's @MaximColch writes: "Buckingham Palace isn’t immune to the affordability crisis" 🤔
wsj.com/world/uk/brita…

Price of gold is 6 months will be

For many long-time readers of financial news, those three names are second nature. Having followed their journey from afar has been quite the treat. (that doesn't mean I agree to everything each of them has written)

Jon Hilsenrath. Greg Ip. Nick Timiraos.

3 Fed whisperers. What a treat to read their tributes to Alan Greenspan. Thanks Jon, Greg & Nick for writing.

@greg_ip
@NickTimiraos

With Greenspan's passing, it's worth revisiting why so many missed the financial crisis. Key contributor was an instruction to GSEs lower lending standards followed by not publishing financials. Reports on the financial crisis conveniently skip this. 👇 x.com/AxelMerk/statu…

The US does not need a quasi or outright guarantee on its mortgage sector. This creates perverse incentives and blew up in 2008. The solution is to dismantle the GSEs, not to over-regulate the banks.