Money and the theory of exchange
Evidence mounts that the global credit cycle has turned towards its perennial crisis stage. This time, the gathering forces appear to be on...
Goldmoney Insights
Gold - A Perfect Storm For 2019
This article is an overview of the principal factors likely to drive the gold price in 2019. It looks at the global factors that have develo...
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...
Cryptocurrency - its status as money
The cryptocurrency craze is fascinating to an economist, or at least a student of catallactics, because it is a test of the theory of exchan...
The looming derivative crisis
The powerful forces of bank credit contraction are at the heart of a rapidly evolving financial crisis in global derivatives, whose gross va...
The forthcoming global crisis
The global economy is now in an expansionary phase, with bank credit being increasingly available for non-financial borrowers. This is alway...
The danger of eliminating cash
In the early days of central banking, one primary objective of the new system was to take ownership of the public's gold, so that in a crisi...
Inflationary financing and GDP
This article demonstrates that only government borrowing in the US and UK drives GDP growth. This surprising conclusion is confirmed by long...
Gold’s outlook for 2020
This article is an overview of the economic conditions that will drive the gold price in 2020 and beyond. The turn of the credit cycle, the...
Negative interest rates and gold
The reason for persistent strength in the price of gold can be found in the changing relationship between time preference for monetary gold,...