Why is bank credit so destructive?
“Because your question searches for deep meaning, I shall explain in simple words.” – Dante, Inferno Periodic economic destr...
Goldmoney Insights
Bond worries and gold
There is evidence that US Treasury bond yields may continue to rise, exposing the debt trap in which the US government finds itself. Market...
Fiat’s failings, gold and blockchains
The world stands on the edge of a cyclical downturn, exacerbated by trade tariffs initiated by America. We know what will happen: the major...
America’s trade policy will end up destroying the dollar
America’s tariffs against China are already showing signs of undermining the global economy and will create a funding crisis for the Feder...
150 years of bank credit expansion is near its end
The legal formalisation of the creation of bank credit commenced with England’s 1844 Bank Charter Act. It has led to a regular cycle of ex...
The monetary lessons from Germany
Germany suffered two currency collapses in the last century, in 1920-23 and1945-48. The architect of the recovery from the former, Hjalmar S...
Monetary failure is becoming inevitable
This article posits that there is an unpleasant conjunction of events beginning to undermine government finances in advanced nations. They c...
An Inflationary Depression
Financial markets are ignoring bearish developments in international trade, which coincide with the end of a long expansionary phase for cre...
The Ghost of Failed Banks Returns
Last week’s failure in the US repo market might have had something to do with Deutsche Bank’s disposal of its prime brokerage to BNP, br...
China or US?
China has made some silly errors in its conflict with the US, reflecting the arrogance that often afflicts every state actor. But the appear...