Ideas and analysis on money, markets and the world around us.
Despite 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…
Read the articleFollowing the demise of gold’s active August contract, gold and silver had a better week. In European morning trade, gold was at $1829, up $28 from last Friday, while silver rallied to $25.60, up 45 cents. As always at…
Read the articleThere has been a significant shift in geopolitics in recent months, with the US consciously deciding to withdraw from Asian conflicts, notably in Afghanistan. But the diplomatic war against Iran also appears to have…
Read the articleAs can be seen in our headline chart, the gold price has gently climbed for a month now. Silver held its level until this week, when it sold off sharply and is yet to recover its poise. This morning, gold was at $1802,…
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