Ideas and analysis on money, markets and the world around us.
Silver prices have strengthened remarkably over the past few months. In the fall of 2022, the metal had dropped to around $18/ozt, the lowest since early 2020. Since then, silver has pushed higher and is now again…
Read the articleThere is a fundamental difference between commodity markets and other markets. The bottom line is: commodity prices must adhere to an underlying physical reality. In contrast, there is no law that demands that equity…
Read the articleGold and silver rallied ahead of the Easter weekend, with silver being exceptionally strong. Gold closed last night at $2008.8, up $39 from last Friday’s close. And silver was up 90 cents at $24.97. On the last…
Read the articleThe dollar-based credit bubble is imploding, and emerging economies are seeking protection by accepting trade settlement in other currencies. The US policy of threatening regime change, currency destabilisation, or…
Read the articleThis week, gold continued to consolidate, while silver moved ahead. This morning, gold was at $1979, up $2 since last Friday’s close, while silver at $23.85 was up 66 cents, for a two week gain of $1.33. Admittedly,…
Read the articleThe theme of this article is debt deflation. How likely is it that the downturn in broad money supply will continue, and if so, why? And what are the consequences? The major central banks have increasingly resorted to…
Read the articleOn July 11, 2008, news broke out that California based IndyMac Bank suddenly failed and was to be shut down by banking regulators. Within minutes, thousands of bank depositors swarmed their local branches. A jarring…
Read the articleOnly a week ago we published a two-part report ( Gold prices reflect a shift in paradigm – Part I , March 15, 2023, and Part II , March 16, 2023) in which we explored the possibility of the gold market’s pricing in a…
Read the articleGold and silver consolidated recent gains before rallying to test higher ground. In European morning trade, gold was $1992, up a net $4 from last Friday’s close. Silver outperformed gold at $23.15, up 55 cents. Open…
Read the articleWe are all now aware that the global banking system is extremely fragile. Driving bank failures is contracting credit, which in turn drives interest rates higher. Though it is not generally appreciated, central banks…
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