Ideas and analysis on money, markets and the world around us.
The gap between fiat currency values and that of legal money, which is gold, has widened so that dollars retain only 2% of their pre-1970s value, and for sterling it is as little as 1%. Yet it is commonly averred that…
Read the articleAt these times of growing confusion over the future of currencies’ purchasing power, it is time to remove all doubt in the definitions of the differences between money, currency, and credit. This article traces the…
Read the articleOn the back of a further rise in the Fed Funds rate, the gold price made little progress this week. Silver outperformed. In European morning trade today, gold was at $1652, up $48from last Friday’s close. Silver was at…
Read the articleWith price inflation rising out of control and interest rates rising strongly, the trading environment for commercial banks has fundamentally changed. With bad debts looming and bond prices in entrenched downtrends,…
Read the articleGold and silver consolidated the small gains of the previous week in subdued paper trading. In European this morning, gold was at $1649, down $9 from last Friday’s close, and silver at $19.22 off 16 cents. Broader…
Read the articleThe Cato Institute recently published a new book, Superabundance, which tries to prove that Malthus, the nineteenth century clergyman and economist, was wrong with respect to his theory of population. Malthus believed…
Read the articleGold eased further this week and silver marked time, as US Treasury yields moved higher. In European trade this morning, gold was $1625, down $19 from last Friday’s close, and silver was $18.34, up 11 cents. Comex…
Read the articleThe British government’s desperate dash towards free markets has failed, badly bungled. The establishment in Whitehall and Westminster is back and realigned with the international government consensus. The socialist…
Read the articleNegative sentiment in paper markets for precious metals prevails while the macro investing world tries to come to terms with higher interest rates. In early morning trade in Europe this morning, gold was at $1659, down…
Read the articleThere is a growing feeling in markets that a financial crisis of some sort is now on the cards. Credit Suisse’s very public struggles to refinance itself is proving to be a wake-up call for markets, alerting investors…
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