Ideas and analysis on money, markets and the world around us.
The moment gold bugs have been waiting for happened this week, with gold breaking higher out of its three-year consolidation on the upside. In European trade this morning, gold was up $47 from last Friday’s close at…
Read the articleBased on the findings of our gold price framework, we have long argued that we have entered a new gold cycle. However, until now, there was always the risk that strong economic growth could allow the Fed to raise rates…
Read the articleBehind the scenes, the financial war between America and China is escalating dangerously into a war to secure global financial resources. At a time of growing liquidation of dollar assets by foreigners, the US…
Read the articleGold performed strongly this week, rising $15 from last Friday’s close to trade at $1355 in European morning trade today. Gold’s strong performance is dragging a seemingly reluctant silver up from mid-week lows for a…
Read the articleThis article is a wake-up call for those who do not understand the true purpose of monetary inflation, and do not realise they are the suckers being robbed by monetary policy. With the world facing a deepening…
Read the articleThis week has seen a dramatic extension of a rally in gold which started in earnest on 30 May. In the seven trading sessions since the 29 May, the gold price has risen over $50 to trade at $1333 in European trade today…
Read the articleIf there is one concept that illustrates the difference between a top-down macro-economic approach and the reality of everyday life it is the velocity of circulation of money. Compare the following statements: “The…
Read the articleThe interest rate fallacy There is a widespread assumption that interest rates represent the cost of borrowing money. In the narrow sense that it is a rate paid by a borrower, this is true. Monetary policy planners…
Read the articleBrexit has been a long, drawn-out saga. But finally, Theresa May’s indecision appears to be coming to an end. She has finally been cornered in a tragic opera with more twists and turns than Wagner’s Ring Cycle. May’s…
Read the articleGold and silver were more volatile this week, but they appear to be going their separate ways. Gold was up a dollar from last Friday’s close in European morning trade today (17 May), while silver was down 25 cents at…
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