Gold News
The UN is out with their report titled “World Economic Situation and Prospects 2011”. They have some strong words to say about the dollar. From the report “The baseline outlook for 2011 and 2012 is subject to a number of risks, including problems regarding the sustainability of public finances in developed economies, the remaining vulnerability [...]
Kevin Duffy, an economist from the Austrian school who runs a long/short hedge fund Bearing Asset Management, sits down and talks with Jeff Tucker of the Mises Institute covering all things macro in their 20 minute talk Take-aways include: We’re bringing back all the bad habits that we developed during the housing bubble and the [...]
Bull markets do not move in a straight line, nor do the price of gold and silver. Their price advances, and then retreats to ‘correct’ the previous advance. For the past four weeks, gold and silver have been going through one of these periodic price corrections. During these corrections, underlying support is tested. If support [...]
Interesting piece today in the Daily Mail. Apparently more and more people are prospecting for gold in the hills of Cumbria. Alf Henderson who is 80 years old has been prospecting in the Lake District for over 40 years, largely on his own. Now he reports that up to 40 fellow gold-miners at a time [...]
Ron Paul was on CNBC today with another must watch interview. During the interview presidential candidate Ron Paul questions the gold the US government claims to own and has said that he will be pushing for a full audit of the US holdings saying: “i’d sortta like to see how much of the gold is [...]
The Head of the Chinese state owned gold mining company, China National Gold Group, forecasted that there could be a 22% rise in demand for gold in the country over the next 3 years. The rise would outstrip domestic production and could lead to an increased demand for imported gold. Speaking at a conference in [...]
“There are lies, damn lies and then there are government statistics” Today we got the second revision of UK GDP from the government funded Office for National Statistics. The economy is growing at an expected 1.8%, not brilliant but right around HM Treasury’s forecast for 2011 so all is good right? Not so fast – [...]
The European Parliament’s commission on Economic and Monetary Affairs has unanimously approved gold to be used by central counterparties as collateral. This is on the back of clearing house ICE Clear Europe announcing last year that it will accept gold as collateral. This year JP Morgan become the first bank to adopt a similar position [...]
Of late, there has been a vigorous renewal of the old debate regarding the advisability or otherwise of allowing free banking institutions – otherwise unanimously preferred to that ubiquitous, illiberal cartel which operates with enormous legal and political privilege under central-bank tutelage – the right to issue their own ‘inside money’ in the form of [...]
Below is an article that by Anthony J. Evans. Associate Professor of Economics at ESCP Europe Business School, and Founding Fellow of The Cobden Centre. This article first appeared at The Cobden Centre Consider this diagram showing the billions of euros that each of 8 EU countries owes the other. (click for sharper image) Whilst the numbers [...]
