Our costly dalliance with Lord Keynes
In “The General Theory of Employment, Interest and Money”, Keynes virtually created macroeconomics. But Keynes was a mathematician, not...
Goldmoney Insights
Deeply negative nominal rates are on their way
Growing evidence of a severe global recession is sure to provoke more aggressive monetary policies from central banks. They had hoped to hav...
Stalling Markets
The combination of American trade protectionism and the end of a failing credit expansion is leading into a global economic downturn, and po...
Refuting Ted Butler’s criticism
Following last Thursday’s article on silver (A whale is accumulating silver futures), Ted Butler, an analyst who specifically follows silv...
A whale is accumulating silver futures
Silver’s recent price performance has been disappointing. Normally, it is almost twice as volatile as gold, so when the gold price rises 1...
Gold Price Framework – The next cycle unfolds
Based on the findings of our gold price framework, we have long argued that we have entered a new gold cycle. However, until now, there was...
Forget velocity of money circulation
If there is one concept that illustrates the difference between a top-down macro-economic approach and the reality of everyday life it is th...
Interest rates, time-preference and gold
The interest rate fallacy There is a widespread assumption that interest rates represent the cost of borrowing money. In the narrow sense t...
Drop Gold and The Myths We’re Told
A Naturalist Exposition of Gold’s Manifest Superiority to Bitcoin as Money Introduction The purpose of this paper is to formally add...
In praise of Hayek’s masterwork o
Friedrich von Hayek first published The Road to Serfdom in 1944. His book was subsequently popularised by a condensed version in The Reader...