Ideas and analysis on money, markets and the world around us.
This article explains the effect of monetary inflation on GDP. Nominal GDP is directly inflated by additional money and credit, so GDP growth is simply a reflection of additional money in the economy. It gives no clue…
Read the articlePrecious metals rallied this week, with gold up $50 to $1910 in early morning trade in London, while silver rose $1 to trade at $23.86. It appears that the bullion banks are being squeezed again, and the table below…
Read the articleNote: all references to inflation are of the quantity of money and not to the effect on prices unless otherwise indicated. In last week’s article I showed why empirical evidence of fiat money collapses are relevant to…
Read the articleThis week saw heavy falls for precious metals, with gold losing $79 from last Friday’s close to trade at $1871 in early morning UK time today, and silver was hammered $3.65 to $23.14 over the same period. Gold has…
Read the articleThis article examines two inflationary experiences in the past in an attempt to predict the likely outcome of today’s monetary policies. The German hyperinflation of 1923 demonstrated that it took surprisingly little…
Read the articleAs our headline chart shows, this week gold and silver continued its sideways drift in a narrowing trading range. On the week, gold rose by $15 to trade at $1954 in early morning European trade today, and silver was…
Read the articleIn the wake of the Fed’s promise of 23 March to print money without limit in order to rescue the covid-stricken US economy, China changed its policy of importing industrial materials to a more aggressive stance. In…
Read the articleIn quiet trading, gold and silver drifted sideways this week in a tight trading range. In European morning trade gold edged up $13 on the week to $1945 while silver fell 4 cents to $28.82. Encouraging this torpor was…
Read the articleThere can be little doubt that macroeconomic policies are failing around the world. The fallacies being exposed are so entrenched that there are bound to be twists and turns yet to come. This article explains the…
Read the articleGold and silver drifted lower this week in moderate volumes for Comex gold and low volumes for silver. This morning in Europe gold traded at $1935, down $29 on the week, and silver was $26.70, down $1.35. This…
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