Ideas and analysis on money, markets and the world around us.
The Cyprus crisis has exposed a perception problem at the heart of modern finance. Everyone has a bank deposit and regards this as their property: a form of warehousing if you like. In reality of course – as many gold…
Read the articleGermans are becoming increasingly hostile to the euro – with opposition centred in conservative states such as Bavaria, Hesse and Baden-Württemberg. These states are being hurt by higher equalisation payments and are…
Read the articleLast night the Cypriot parliament rejected the proposed IMF/EU bailout that would have seen the confiscation of up to 10% of depositors’ money from the island’s banks. Under pressure from hoards of protesting citizens…
Read the articlePure theft. That’s the description many are giving to the weekend’s news from Cyprus, where bank depositors have had their accounts frozen, with a special 9.9% levy on deposits of over €100,000 and 6.7% on amounts below…
Read the articleMany of us are aware of Professor Laurence Kotlikoff of Boston University’s calculation that the net present value of the US Government’s future liabilities rose by $11 trillion in fiscal 2012 to $222 trillion. These…
Read the articleBullion has been steady this week, with gold rising $12 to $1,590 and silver falling 13 cents to $28.80 as of Friday morning. Open interest in gold has picked up by 19,000 contracts in US futures markets this month so…
Read the articleGold is knock-knock-knockin’ on $1,600’s door, though as yet has been unable to break back above this price. Silver is being stymied at $29, with platinum at the same level as gold and trading in a very similar pattern…
Read the articleIt seems that America's Commodity Futures Trading Commission (CFTC) is discussing internally the possibility that gold and silver is being manipulated at the London fixings. This is according to The Wall Street Journal…
Read the articleJapanese Prime Minister Shinzo Abe has only been in power for a few months. But in that time he is made it clear that his campaign platform of unprecedented monetary stimulus was no empty promise. Despite a pledge by…
Read the articleYesterday, for the first time in March, the gold price broke through its short-term ceiling of $1,585 and approached the $1,600 mark, while silver moved back above $29. During a press conference concerning the…
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