Ideas and analysis on money, markets and the world around us.
Gold 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,…
Read the articleCurrent levels of equity markets are not only divorced from their underlying economic and business realities but are repeating the madness of crowds that led to the Wall Street crash of 1929—1932. The obvious difference…
Read the articleNormal 0 false false false EN-GB ZH-CN HI Gold and silver tracked higher this week until today when both metals were slammed. At the time of writing gold was off $14 on the day and silver down 62 cents. There is no…
Read the articleThe draft PRA rules complying with Basel 3 regulations have now been issued six months ahead of their implementation to allow banks to adjust for them in time. From now, senior bankers, their lawyers and bank treasury…
Read the articleGold continued to recover some ground this week to consolidate at the $1800 level. In European morning trade this morning, gold was $1805, up $16 from last Friday’s close, but still down about 5% on the year so far.…
Read the articleThe economic consequences of cyclical expansion and contraction of bank credit are the reason for booms and slumps dating back certainly to the Napoleonic Wars and possibly before. Keynesian remedies, which owe their…
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