Ideas and analysis on money, markets and the world around us.
The legal formalisation of the creation of bank credit commenced with England’s 1844 Bank Charter Act. It has led to a regular cycle of expansion and collapse of outstanding bank credit. Erroneously attributed to…
Read the articleGold and silver stabilised this week, consolidating the falls of the previous week. Gold rose $7 from last Friday’s close to trade at $1466 in early morning European trade, while silver was up four cents over the same…
Read the articleThe thirtieth anniversary of the fall of the Iron Curtain coincides with a popular resurgence of communism and a drift into more socialism. A collective amnesia sees a return of the Soviet Union’s failed policies in a…
Read the articleGold and silver suffered a sharp sell-off this week, with gold falling $48 from last Friday’s close to trade at $1466 in this morning’s European trade. On the same timeframe, silver fell $1.12 to $16.98. Gold’s price…
Read the articleGlobal policy planners intend to deliver replacements for both dollar hegemony and fossil fuels. Plans may appear uncoordinated and in their early stages, but these issues are becoming increasingly linked. A monetary…
Read the articleDespite being very overbought, gold and silver rose slightly on the week, with gold up $7.50 at $1512 in early morning European trade and silver up eight cents at $18.10. As our headline chart shows, over the last two…
Read the articleGermany suffered two currency collapses in the last century, in 1920-23 and1945-48. The architect of the recovery from the former, Hjalmar Schacht, chose to cooperate with the Nazi successors to the Weimar Republic, and…
Read the articleGold and silver recovered some lost ground this week, with gold up $22 from last Friday’s close to trade at $1506 in early morning trade in Europe. Over the same time period, silver rose 47 cents to trade at $18.04.…
Read the articleGrowing evidence of an economic downturn despite unprecedented monetary inflation since Lehman means a new credit and systemic crisis is becoming increasingly certain. In an attempt to prevent a new crisis developing,…
Read the articleGold and silver continued their consolidation in moderate turnover on Comex. By morning trading in Europe today (Friday) gold had lost $4 from the previous Friday’s close to trade at $1490, while silver was down 10…
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