Ideas and analysis on money, markets and the world around us.
The global economy is now in an expansionary phase, with bank credit being increasingly available for non-financial borrowers. This is always the prelude to the crisis phase of the credit cycle. Most national economies…
Read the articleConclusion: The weekly DOE statistics are still heavily impacted by the aftermath of hurricane Harvey in this weeks stats and will remain impacted for a few weeks. The numbers look very bullish at first sight, but part…
Read the articleAfter the spectacular run from the lows of early July, gold and silver took a breather this week. Bullion markets on Comex had become very overbought, so a pause was inevitable, and healthy. In early European trading…
Read the articleNow that gold has become overbought on Comex, the price is vulnerable to being trashed, yet again, by the too-big-to-fail banks. It is a familiar operation in gold futures markets, where speculators buying contracts…
Read the articleConclusion: The weekly DOE statistics are heavily impacted by the aftermath of hurricane Harvey in this weeks stats and will remain impacted for a few weeks. This weeks inventory build in crude was less than the market…
Read the articleAs can be seen in our headline chart, gold and silver powered ahead further this week, and appeared to be undergoing a rerating. Gold this morning in early European trade was trading at $1354, up from $1320.80 at last…
Read the article“The paradox is one of the most completely established empirical facts in the whole field of quantitative economics.” – John Maynard Keynes “The Gibson paradox remains an empirical phenomenon without a theoretical…
Read the articleConclusion: The weekly DOE statistics are heavily impacted by the aftermath of hurricane Harvey in this weeks stats and will remain impacted for a few weeks. While the inventory build in this weeks stats was relatively…
Read the articleGold finally broke through the $1300 level on Monday, and did it in style. With London closed for a bank holiday, gold appeared to be edging better in quiet European trade, reflecting a lack of sellers rather than…
Read the articleThe Jackson Hole speeches of Janet Yellen and Mario Draghi last week were notable for the omission of any comment about the burning issues of the day: ...where do the Fed and the ECB respectively think America and the…
Read the article