Ideas and analysis on money, markets and the world around us.
The importance of Russia’s announcement that a new gold-backed trade currency is on the BRICS meeting agenda for August 22—24 in Johannesburg seems to have gone completely over everyone’s heads, with mainstream media…
Read the articleGold and silver were hardly changed on the week, drifting lower on balance over the week. In Europe this morning, gold was at $1915, down $4, and silver $22.70, down 5 cents. Trade was light, with Tuesday affected by…
Read the articleThere are two components to the inflation story: the cycle of bank credit, which left to itself is self-cancelling, and the longer-term erosion of currency values. In examining the causes, this article goes back to…
Read the articleGold and silver declined further this week, as first growing suspicions that dollar rates would stay higher for longer undermined sentiment, and then a surprisingly strong US GDP revision for the first quarter of this…
Read the articleThe increasing number of nations seeking to join BRICS brings geopolitics into the spotlight. At the time of writing, existing members, those who have applied to join and those expressing an interest total 36 nations,…
Read the articleGold and silver fell sharply this week as a number of central banks increased their interest rates, spooking traders who look for short-term profits. In Europe this morning, gold traded at $1917, down $40 from last…
Read the articleIt was Keynes’ offhand dismissal of Say’s law, or the law of the markets, in 1936 which is leading us into an economic and monetary crisis. It was dismissed by him to invent a role for the state. That is why Keynes is…
Read the articleGold and silver ended up little changed on the week after a sell-off in the Far East on Thursday morning, following the Fed’s decision to pause increases in interest rates. In Europe this morning gold was $1964, up $4…
Read the articleGold and silver prices rose from last Friday, defying the naysayers. In European trade this morning, gold was 1962, up $13 on the week, while silver outperformed gold at $24.30, up 75 cents. As our headline chart shows,…
Read the articleIn these dogdays of summer, there is a new complacency over the financial and economic status of the Eurozone. Inflation is down, bank shares have rallied, and the end of further rises in interest rates is in sight. The…
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