A global equity crisis is leading at the margin to liquidation of speculative long positions in gold and silver futures. It looks like a crisis just starting.After declines in gold and silver prices in the second half of last week, this week started on a steady note, before heading south...
Read MoreIf elected President, Donald Trump promises to reverse US policy withdrawing from foreign affairs and dropping Biden’s climate change agenda. Expect the Deep State to do what it can to stop him.IntroductionMiddle America never bought into Biden’s policies. The human and financial cost of...
Read MoreThis week saw profit-taking in gold and silver, no doubt encouraged by bullion banks whose short positions doubtless became extremely uncomfortable.After a strong start to the week, profit-taking set in, driving gold $60 below its Wednesday intraday high, and silver $2.50 below its high point...
Read MoreJay Powell has signalled that inflation is moving sustainably towards the Fed’s 2% target and that the jobs market has cooled down. Hopes for an interest rate cut are rising, but the Fed is being misled badly…The dynamics behind rate policyUndoubtedly, market values everywhere are predicated on...
Read MoreGold is rising to challenge all-time highs, with Open Interest on Comex soaring faster than ever seen before. It reflects a physical liquidity crisis.After a volatile week so far, gold and silver opened lower this morning in European trade. Gold traded at $2407 after touching $2424...
Read MoreIt’s all about credit. Demand to fund rising government deficits and keep zombie corporations alive will drive up interest rates. This article explains the consequences for currencies and financial values.It’s all about creditAll transactions and all valuations are in credit. The key aspect...
Read MoreOvernight gold demand from China appears to have returned. Will it follow through?As evident in our headline chart, silver had a better week while gold steadied, seemingly well underwritten at current levels. Gold opened at $2365 in Europe this morning, up $36 from last Friday, while silver...
Read MoreI was recently asked by one of my Substack subscribers to explain why the use of interest rates in an attempt to manage inflation does not work. It is simply not the true function of interest rates.Primarily, an interest rate is the compensation a creditor requires for credit risk. Credit...
Read MoreChinese buying unwound into yesterday’s London morning fix?This week, gold and silver suffered a significant markdown on Tuesday and Wednesday as Comex contracts ran into the month end expirations with the additional factor of the last trading day in the half year, when bullion bank traders...
Read More“The west declared a war against us… And now we are going to distribute nuclear weapons to anyone who can use it against the west” — Aleksandr Dugin The reaction in Russian government circles to the cluster bomb attack in Sevastopol last Sunday clearly shows that the Russians are...
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