Britain’s next Prime Minister must address two overriding problems: London is at the centre of an evolving financial and currency crisis brought forward by a change in interest rate trends; and the reality of emerging Asian superpowers must be accommodated instead of attacked.This article starts...
Read MoreWe are now seeing the initial stages of a currency, credit, and banking crisis develop. Driving it are an inflation of prices, contraction of bank credit and a pathological fear of recession. One can imagine that the major central banks almost wish a mild recession upon us so that they can...
Read MoreThe euro system and its currency are descending into crisis. Comprised of the ECB and the National Central Banks, the system is over its head in balance sheet debt, and it is far from clear how that can be resolved.Normally, a central bank is easy to recapitalise. But in the case of the...
Read MoreIn a febrile atmosphere, gold and silver futures continued to slide priced in dollars this week. Gold was down $72 from last Friday’s close at $1738 in European trade this morning, and silver down 72 cents at $19.12. Volumes in the Comex gold contract were high, while in silver, less...
Read MoreFickle markets have stopped worrying about inflation and begun to worry about recession. Both the financial establishment and investors seem incapable of understanding that it is not either one or the other, but both together.Behind the inevitable crisis which is now emerging is a lack...
Read MoreGold and silver fell sharply this week into the half-year end, as recession scares mount. This morning, in early European trade gold was $1796, down $36 from last Friday’s close, and silver was $19.80, down $1.25. Gold is now slightly below last year’s closing level, and silver is down...
Read MoreCentral bankers are trying to steer markets away from higher interest rates, citing growing evidence of the harm they are doing to economic growth. Quantitative tightening is dead on arrival.Predictably — because it is a repetitive cycle — bank credit is beginning to contract. But contracting...
Read MoreGold and silver drifted lower this week as the whole commodity complex weakened. In European trade this morning, gold was at $1826, down $14, and silver at $20.88, down 78 cents. Comex volumes were moderate in gold, but higher in silver relatively.Our next chart is of the wider commodities...
Read MoreSanctions have backfired on those described by Vladimir Putin as the unfriendly nations. It is setting in train a series of events likely to undermine the whole Western financial system, as prices rise driving interest rates higher, and economic activity shrinks. These developments alone...
Read MoreWhile stocks and bonds crashed this week, gold and silver rallied, recovering most of the ground lost in a sell-off on Monday. In Europe this morning, gold traded at $1850, down a net $20 having traded as low as $1806 on Tuesday. At $21.92, silver was marginally higher on the week,...
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