Ideas and analysis on money, markets and the world around us.
Gold and silver rallied this week, with gold gaining $11 from last Friday’s close to trade at $1746 in European trade this morning, and silver was up 26 cents at $25.20. These modest gains consolidated last week’s…
Read the articleIt has been recently estimated that global debts stand at $284 trillion equivalent, representing 355% of global GDP. Estimates such as these must be treated with caution, and they probably underestimate financial sector…
Read the articleThe sell-off in gold and silver came to a predictable end with the last dealing day of the Comex April contract series, and on Wednesday prices turned up for the better. In European trade this morning, gold was $1735, a…
Read the articleThis article explains the fundamental mistake behind Keynes’s General Theory, the vade mecum for all macro and mathematical economists today. It is no exaggeration to say that his casual rejection of Jean-Baptiste Say’s…
Read the articleGold and silver drifted lower on the week, with gold down $20 from last Friday’s close at $1725 in London morning trade, and silver down $1.20 at $25 . 03 on the same timescale. Yesterday saw the expiration of April…
Read the articleIn a continuing cold war, America is already on the back foot. We have yet to see how long it will be before the Biden administration realises its few victories will be unaffordably Pyrrhic, and by merely not responding…
Read the articleEquity markets have relentlessly rallied over the past 12 months, pushing valuations to extreme levels based on traditional metrics. In this report, we analyze the two common arguments by equity bulls why this time is…
Read the articleGold and silver were quietly firm this week, with gold trading at $1738 in European morning trade, up $10 from last Friday’s close, and silver at $26.02, up 12 cents on the same time scale. Unspectacular perhaps, but…
Read the articleThe European Commission is failing. Its response to Brexit and the pandemic, where it is now threatening emergency powers in order to secure vaccines is a latest throw of the political dice. Even before this development…
Read the articleGold and silver rallied this week from very oversold levels, before declining from mid-week highs. In European trade this morning, gold was at $1704, having touched $1740 early on Thursday morning for a net gain of only…
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