Ideas and analysis on money, markets and the world around us.
Among the many problems currencies and markets face, there is one which is undocumented: the eurodollar market, which is yet another very large elephant in the room. This article quantifies eurodollars and eurodollar…
Read the articleGold and silver drifted lower this week, before a modest recovery this morning which can be put down to bear closing. In European trading this morning, gold was $1918, unchanged from last Friday’s close after testing…
Read the articleRussia and the Saudis are driving up oil and diesel prices. But these moves are likely to undermine the rouble more than they undermine the dollar, euro, and other major currencies. Therefore, higher energy prices will…
Read the articleGold and silver prices fell this week in light trade, with US markets closed on Monday for Labor Day. In European trade this morning, gold was at $1925, down $15 from last Friday’s close, and silver was at $23.05, down…
Read the articleAs the world descends into a much-heralded recession, the surprise will be that interest rates will continue to rise as economic activity contracts. This is not what the economic establishment expects. This article puts…
Read the articleIn the last few days, gold and silver have paused their earlier rises. In the case of silver, these have been substantial, as shown in our headline chart. In gold, less so; but it does appear that silver is leading both…
Read the articleAs evidence mounts that the major western economies are heading into a banking and monetary crisis due to contracting credit, we face the consequences of unsound money. The era of fiat is drawing to a close and its…
Read the articleGold and silver rallied from the lows of last week in quiet Comex trade for gold, but more active trade in silver. In Europe this morning, gold was at $1916, up $27 from last Friday’s close, and silver was up $1.30 at…
Read the articleIt is slowly coming clear that the fiat dollar’s hegemony is drawing to a close. That’s what the BRICS summit in Johannesburg is all about — rats, if you like, deserting the dollar’s ship. With the dollar’s backing…
Read the articleThe sell-off in precious metals which started in late July continued this week, but its momentum slowed with silver even showing a modest gain on the week so far. In early European trading, gold was $1892, having traded…
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