Ideas and analysis on money, markets and the world around us.
We are now seeing the initial stages of a currency, credit, and banking crisis develop. Driving it are an inflation of prices, contraction of bank credit and a pathological fear of recession. One can imagine that the…
Read the articleThe euro system and its currency are descending into crisis. Comprised of the ECB and the National Central Banks, the system is over its head in balance sheet debt, and it is far from clear how that can be resolved.…
Read the articleIn a febrile atmosphere, gold and silver futures continued to slide priced in dollars this week. Gold was down $72 from last Friday’s close at $1738 in European trade this morning, and silver down 72 cents at $19.12.…
Read the articleFickle markets have stopped worrying about inflation and begun to worry about recession. Both the financial establishment and investors seem incapable of understanding that it is not either one or the other, but both…
Read the articleGold and silver fell sharply this week into the half-year end, as recession scares mount. This morning, in early European trade gold was $1796, down $36 from last Friday’s close, and silver was $19.80, down $1.25. Gold…
Read the articleCentral bankers are trying to steer markets away from higher interest rates, citing growing evidence of the harm they are doing to economic growth. Quantitative tightening is dead on arrival. Predictably — because it is…
Read the articleGold and silver drifted lower this week as the whole commodity complex weakened. In European trade this morning, gold was at $1826, down $14, and silver at $20.88, down 78 cents. Comex volumes were moderate in gold, but…
Read the articleSanctions have backfired on those described by Vladimir Putin as the unfriendly nations. It is setting in train a series of events likely to undermine the whole Western financial system, as prices rise driving interest…
Read the articleWhile stocks and bonds crashed this week, gold and silver rallied, recovering most of the ground lost in a sell-off on Monday. In Europe this morning, gold traded at $1850, down a net $20 having traded as low as $1806…
Read the articleNow that interest rates are rising with much further to go, the global banking system faces a crisis on a scale like no other in history. Central banks loaded with financial securities acquired through QE face growing…
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