Ideas and analysis on money, markets and the world around us.
Fed fund futures markets have sharply changed their outlook on Fed policy for 2022, pricing in four rate hikes in the next twelve months. This has led to a correction in both nominal yields and real-interest rate…
Read the articleGold and silver fell sharply this week in the wake of the release of the FOMC minutes, which were a wakeup call for financial markets. Gold fell $45 from last Friday’s close to trade at $1789 in Europe this morning,…
Read the articleThe Fed has just released its first public consultation paper on a dollar-based central bank digital currency. For many, central bank digital currencies (CBDCs) are a means of heading off private sector cryptos, but…
Read the articleOur headline chart shows how, after the first week in the New Year, the silver price has rallied strongly, up by nearly 10%. This week gold rose $18 from last Friday’s close to trade at $1835 in Europe this morning, and…
Read the articleIn recent weeks inflation has become a major economic concern. Nearly all the commentary emanating from monetary policy makers, economists, and the media is misguided, believing inflation is rising prices and must be…
Read the articleGold and silver rallied this week as inflation and rising interest rates became the talking point. From last Friday, gold rose $28 to trade at $1823 this morning in Europe, and silver rose 80 cents to $23.12. Comex gold…
Read the articleThis article looks at the situation in the euro system in the context of rising interest rates. Central to the problem is role of the ECB, which through monetary inflation embarked on a policy of transferring wealth…
Read the articleGold and silver got off to a poor start in the New Year, with gold down $35 and silver down $1.10 in the first week of trading. In morning European trade today, gold was at $1794 and silver at $22.20. Interestingly,…
Read the articleThe establishment, including the state, central banks and most investors are thoroughly Keynesian, the latter category having profited greatly in recent decades from their slavish following of the common meme. That is…
Read the articleFollowing the Lehman crisis, it became fashionable to cite the Triffin dilemma as justification for inflationary US policies and why they would not undermine the US dollar in the foreign exchanges. But far from being…
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