Jim Bianco

The history of modern finance has seen several monetary orders, from the gold standard of the 19th century to the current fiat-based era starting in 1971. Each period had its dominant reserve currency, starting with gold and then moving to the British pound and US dollar. The current system is 50…

It seems hard to believe but it was only 16 days ago that the US stock market was at record highs. It has since fallen more than 25%, marking the fastest time between a new high and a bear market in history. The old record was set in 1929, when it took 42 days over the course of September and…