Ideas and analysis on money, markets and the world around us.
In very quiet trading, gold and silver continued to consolidate at the $1800 and $24 levels respectively. On two days this week, Comex gold volumes dropped to below 130,000 contracts, against an average of over 250,000…
Read the articleRemarkably, in a speech on monetary policy given at the Jackson Hole conference last Friday, Jay Powell never mentioned money, money supply, M1 or M2. With money supply expanding at a record pace to fund both QE and…
Read the articleGold and silver traded in subdued volumes this week as traders were reluctant to take positions ahead of Jay Powel’s speech at Jackson Hole later today. And it wasn’t just precious metals on hold. Combined with the…
Read the articleDespite negative interest rates and money printing by the European Central Bank, which conveniently allowed all Eurozone member governments to fund themselves, having gone nowhere Eurozone nominal GDP is even lower than…
Read the articleThis week, gold consolidated the gains of the previous week after the dramatic sell-off on 6—9 August. In European trading this morning, gold was at $1785, up $5 from last Friday’s close. Silver was relatively weak at…
Read the articleOn the fiftieth anniversary of the Nixon Shock, this article explains why fiat currencies have become joined at the hip to financial asset values. And why with increasing inevitability they are about to descend into the…
Read the articleGold suffered a massive bear raid over last Sunday night, when traders in Europe and America were not at their desks. Silver got slammed on the back of it. As can be seen in our headline chart, both metals are now well…
Read the articleClimate change bears all the hallmarks of a state-sponsored crisis, useful to shift attention from other political failures. But the absence of financial accountability which characterises government actions also…
Read the articleGold and silver saw little change this week, with gold down $12 from last Friday’s close in early European trade this morning at $1801. And silver was off 27 cents over the same timescale at $25.17. On Wednesday there…
Read the articleThis month is the fiftieth anniversary of the Nixon shock, when the Bretton Woods agreement was suspended. And the expansion of commercial banking into credit for purely financial activities became central to the…
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