Ideas and analysis on money, markets and the world around us.
This 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…
Read the articlePresident Trump has declared he will extend tariffs of 25% on all America’s imports of Chinese goods. China is responding with tariff increases of its own. The consequences of this action and reaction will be to…
Read the articleThis week, gold traded in a very narrow range, up $6 from last Friday’s close at $1285 in European morning trade. Silver drifted lower, losing 15 cents on the week to $14.79 on the same time scale. Comex volume in gold…
Read the articleFriedrich von Hayek first published The Road to Serfdom in 1944. His book was subsequently popularised by a condensed version in The Reader’s Digest. This article re-examines Hayek’s theme in the context of today’s…
Read the articleGold and silver sold off this week, becoming heavily oversold in the process. Gold lost $15 on the week to trade at $1271 in early European trade today (Friday) and silver 46 cents to $14.64 over the same time-scale.…
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