A wider perspective.

Ideas and analysis on money, markets and the world around us.

China’s gold strategy

China first delegated the management of gold policy to the People's Bank by regulations in 1983. This development was central to China's emergence as a free-market economy following the post-Mao reforms in 1979/82. At…

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Market Report: FOMC hits gold and silver

Trading in precious metals was quiet until Wednesday morning, when prices began to soften. When the FOMC meeting released its policy statement at 2.00pm EST, gold and silver responded by falling heavily, with gold…

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Markets and reality disconnected

The behaviour of financial markets these days is frankly divorced from reality, with value-investing banished. Markets have become distorted by Rumsfeld-knowns such as interest rate policy and "market guidance", and…

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Why the business cycle is failing

Since WW2 economic theorists have posited that demand in the economy could be stimulated by a combination of deficit spending by the government and by suppressing interest rates. The separation of demand from production…

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