Ideas and analysis on money, markets and the world around us.
President Biden has now had his $1.9 trillion stimulus package passed into law, and it will not be the last in the current fiscal year. Covid is not over and is sure to resurge with new variants next winter. But even…
Read the articleThe relentless rally in equity markets has pushed valuations to extreme levels based on traditional metrics. In this report, we analyze the two common arguments made by equity bulls on why this time is different and…
Read the articleGold and silver prices continued to decline this week, with gold falling $37 to $1696, and silver down $1.32 to $25.27 in European morning trade today. A notable feature is the continuing decline in Comex open interest…
Read the articleI can prove anything with statistics, except the truth -- Lord Canning, c. 1819 Does Canning’s aphorism still hold true, given that data collection and statistical analysis have progressed beyond all recognition in the…
Read the articleAfter a strong performance on Monday, gold and silver prices traded lower as the March contracts on Comex expired. By this morning’s trading in the European time zone gold had lost a net $17 from last Friday’s close at…
Read the articleEarlier this month the US Treasury released its plan to flood the financial system with cash by reducing its balance on its general account at the Fed by $1.229 trillion by not renewing an equivalent amount of T-Bills.…
Read the articleSilver prices have been on a rollercoaster ride over the past weeks, probably also fueled by social media activity. However, we think silver has solid fundamental support at these levels and risks over the medium-term…
Read the articleThis article explains why the successor money to failing fiat is gold, not cryptocurrencies. Cryptos can only act as stores of value so long as fiat exists. I describe how a world transacting with monetary gold and…
Read the articleGold and silver moved sideways this week, first rallying slightly before drifting lower from mid-week onwards. In the wake of the Robinhood/Reddit excitement of the previous week, silver imparted a better tone, while…
Read the articleThis article anticipates the end of the fiat currency regime and argues why its replacement can only be gold and silver, most likely in the form of fiat money turned into gold substitutes. It explains why the current…
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