Ideas and analysis on money, markets and the world around us.
Many 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…
Read the articleThe quantity theory of money and its accompanying equation of exchange are generally accepted as defining the relationship between money and prices. The equation has been expressed a number of ways, always including…
Read the articleSome stability returned to precious metals this week, with gold rising $14 from $1,564 at last Friday’s low to Friday morning, London time, and silver rising $0.65 from $28. Predictably – on the back of recent falls in…
Read the articleStocks markets have hit record (nominal) levels in the last few days, amid the on-going torrent of central bank currency injections into the banking system. Month-on-month changes in the US M3 money supply continue to…
Read the articleOn Comex, last week’s Commitment of Traders Report for gold showed Managed Funds (mostly hedge funds) with record shorts. However, they became very skittish – some changing their minds on a mini-bear squeeze in both…
Read the article