Ideas and analysis on money, markets and the world around us.
Despite 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…
Read the articleEvidence mounts that the global credit cycle has turned towards its perennial crisis stage. This time, the gathering forces appear to be on a scale greater than any in living memory and therefore the inflation of all…
Read the articleGold and silver traded in a narrow range this week, with gold still stuck around the $1500 mark. Turnover in silver dropped off as volatility declined. By early morning trading European time today, gold had declined $5…
Read the articleThis article posits that there is an unpleasant conjunction of events beginning to undermine government finances in advanced nations. They combine the arrival of a long-term trend of rising welfare commitments with an…
Read the articleGold and silver sold off this week, with gold trading down to $1459 intraday on Tuesday, and silver sold down to $16.89. Dollar strength based on the suspicion that the recent repo turmoil was to do with dollar…
Read the articleFinancial markets are ignoring bearish developments in international trade, which coincide with the end of a long expansionary phase for credit. Both empirical evidence from the one occasion these conditions existed in…
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