Published Articles

Canadian MoneySaver

Canadian MoneySaver is a nationally distributed Canadian money and investment magazine with a recognized reputation for providing trustworthy and down-to-earth advice since 1981. For a free sample edition, click here. To subscribe to Canadian MoneySaver, click here.

  • How Governments Cause Inflation
    ­(March 2022)
    “This mistaken belief that the total amount of money in the economy, rather than the total amount of wealth, is what drives increased levels of spending is why many commentators erroneously believe that central bank money-creation is the primary culprit of rising prices….”
  • Beating the TSX – The One-Fund Solution
    ­(October 2021)
    “For those investors who have been tempted to follow BTSX yet have been holding off due to the added management overhead and high single-stock concentration, XDIV can be thought of as a more diversified and easier to manage solution….”
  • Where Does Money Come From?
    ­(June 2021)
    “Bank deposits form the majority of a country’s money supply, but it is a mistake to think that the bulk of this money is created by the government. Rather, the vast majority of deposit money is instead created by private commercial banks, who as part of their regular lending operations simply conjure this money into existence out of thin air…”
  • Forecasting the TSX
    ­(February 2021)
    “Using well-established forecasting methods that are highly correlated with actual realized stock market returns, this article outlines an equity forecasting model for the TSX total return index. It predicts returns for all rolling 10-year periods from 2000 to 2020 and tests these projections against the historical record for validity…”
  • In Defense of Cash
    ­(October 2020)
    “Unlike stocks, bonds, commodities, or real estate, only cash grants investors the unencumbered right to purchase distressed assets at the precise moment when prices are the lowest and expected future returns are the highest. Whereas stocks and bonds are effectively just claims on variable quantities of future liquidity, cash is immediate liquidity in and of itself…”
  • You’re Poorer Than You Think
    ­(June 2020)
    “Yet even if it were possible to determine the precise rate at which general prices increase from one year to the next, it is folly to believe that this represents the true extent by which societal purchasing power has declined over time…”
  • The Case for Gold
    ­(February 2020)
    While it is true that gold doesn’t pay interest, at least it doesn’t pay negative interest. And in a world where the trend appears to be moving increasingly towards NIRP, gold may ultimately end up being the highest yielding currency of the lot…”
  • Modern Monetary Theory in Canada
    ­(January 2020)
    What few people realize is that no country currently engages in MMT-like operations quite to the extent that Canada does, with “monetary financing” routinely conducted by the Government of Canada and the Bank of Canada…”
  • Are You Ready For Negative Interest Rates?
    ­(October 2019)
    Indeed, the Bank of Canada has quietly added an explicit plan of negative interest rates to its unconventional monetary policy framework in preparation for a future economic crisis similar in scale to the Great Financial Crisis of 2008-2009…”
  • Why You Can’t Afford a House in Vancouver
    ­(June 2019)
    Contrary to the claims of our socialist critics, the growing impoverishment of society resulting from the meteoric rise in Vancouver house prices is not a consequence of the free-market, but a consequence of interference with the free-market. It is not a failure of capitalism which is to blame, but a failure of policy…”
  • A Crusoe Economy
    ­(January 2019)
    When commentators today talk about “Crusoe Economics”, in fact, what they are referring to is the seldom-used analytical framework sometimes employed by economists to reduce complex market concepts down to basic first principles…”
  • Debunking Gold
    ­(October 2018)
    We can see that when the public desires to save as a means of protection from economic crisis but is unable to do so in the official medium of exchange due to government inflation, it is gold that serves as the primary beneficiary…”
  • Inflation, the Disease of Money
    (January 2018)
    While government economists are no doubt aware of the rising disparity between rich and poor, few if any will realize that many of today’s ailments are merely a manifestation of past inflation which they themselves helped to create…”