Ideas and analysis on money, markets and the world around us.
Downturns in bank credit expansion always lead to systemic problems. We are on the edge of such a downturn, which thanks to everyone’s focus on the coronavirus, is unexpected. We can now identify 23 March as the date…
Read the articleGold and silver saw strong price rises this week, with gold up $85 from last Friday’s close at $2060 in morning trade in the European time zone. But the star of the week has been silver, which rose $4.00 to $28.38 over…
Read the articleThere appears to be no way out for the bullion banks deteriorating $53bn short gold futures positions ($38bn net) on Comex. An earlier attempt between January and March to regain control over paper gold markets has…
Read the articleAfter last week’s spectacular run, gold and silver continued their rise until Tuesday, before consolidating. Gold tested $1980 territory, which is a new all-time high, while silver spiked as high as $26.20. This…
Read the articleIntroduction The Euro Crisis Monitor (above) shows the increasing imbalances in the TARGET2 settlement system between all its members: the ECB (itself with a €145bn deficit) and the national central banks in the…
Read the articleGold and silver appeared to defy gravity this week, rising strongly. From last Friday’s close, gold rose $89 to trade at $1895 in European trade this morning, while silver rose $3.27 to $22.57, having peaked at $23.20.…
Read the articleThis article summarises why the credit cycle leads to alternate booms and slumps. It is only with this in mind that they can be properly understood as current economic conditions evolve. The reader is taken through…
Read the articleAn inquiry into the monetary fitness of bitcoin relative to gold INTRODUCTION Since their creation in 2009, novel cryptocurrencies such as bitcoin have been met with skepticism and excitement. In recent years bitcoin…
Read the articleGold consolidated further this week at the $1800 level while silver gained ground in volatile markets. By morning trade in Europe, gold was up $5 from last Friday’s close at $1803. Over the same time-frame silver gained…
Read the articleIn recent articles for Goldmoney I have pointed out the dollar’s vulnerability to a final collapse in its purchasing power. This article focuses on the factors that will determine the future for sterling. Sterling is…
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