Ideas and analysis on money, markets and the world around us.
What Did J.P. Morgan Mean? The following exchange occurred on December 18, 1912 when J.P. Morgan – the most influential American financier and banker of his time – was called to testify before Congress. Mr Untermyer: I…
Read the articleGold’s Natural Monetary Properties Everything we can touch, feel, breathe or burn is an element or compound. Everything built, manufactured, or invented relies on an inexorable causal relationship commencing with the…
Read the articleLast Friday (5 August) the US dollar jumped on better than expected payroll figures, and spent the first half of this week easing as the excitement wore off, before rallying again yesterday. Gold and silver reflected…
Read the articleThis week, clients have been actively net buying gold and silver, with Goldmoney Wealth seeing an increase in the number and value of orders being placed as clients take advantage of the lower prices seen in the week.…
Read the articleOne of my regular readers has raised the important subject of Say’s law, the denial of which both Keynesian and modern monetarists are emphatic. They need this fundamental axiom to be untrue to justify state stimulation…
Read the articleGold and silver resumed their march upwards, with gold challenging the early July high at $1367 on Tuesday. Currencies were being driven by yen strength/dollar weakness, benefiting gold in dollar terms. After a pause in…
Read the articleThis week, clients have been net buying gold, possibly as a safe haven but also as gold has been the best performing asset of the year so far. Many clients have been seen selling their silver positions, possibly to take…
Read the articleMonetary policy, we are told, is all about staving off recession and stimulating economic growth. However, not only is monetary debasement in any form counterproductive and destroys the personal wealth of the masses,…
Read the articleGold and silver drifted this week, continuing last Friday’s end-of-week profit-taking, until the FOMC announced on Wednesday afternoon EST that there was to be no change in the Fed Funds Rate. This was the signal for…
Read the articleThis week, we saw an increase in client activity. Many clients have been net selling the metals in order to take advantage of the price increases since last week. Simultaneously, many clients have been buying into gold…
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