Gold News
As you know, my expectations were low to begin with. I did not expect the EU summit on the debt crisis to provide a solution. There is no solution. The situation is beyond repair and the crisis will continue to unravel. What struck me most when reading the first responses to the EU summit was [...]
Since the end of September there has been an ongoing battle in the Silver market over the price level of $32.2 – something we talked about on October 11th here. Well this week the bulls have taken the charge and on Tuesday we got the pop through the $32.2 level with conviction closing the [...]
First the basics – the entire stated reason for money printing by the central banks is to lower interest rates to make the cost of credit cheaper and thereby ‘pump’ money into the economy in an effort to ‘stimulate’ and stave off a recession. In it’s simplest terms it works like this. The central banks [...]
Back in April of this year we wrote about the internet supply for Georgia being shut down because a pensioner stole some copper wiring that was also keeping the country online. The point of the piece was to highlight the unintended consequence of a loose monetary policy and inflation (expansion of the money supply). We [...]
At the start of October we observed that gold was range bound, with $1680 marking the top and $1600 marking good support on the downside – effectively trading in a ‘box’ (also this and this), where it has stayed for over a month. Well on monday gold made to a bid to break $1680 which [...]
Detlev Schlichter, one of the leading lights of sound money in the UK today, was recently on Sky News with Jeff Randall. What is great about this is that coversation about ‘what is money’ is starting to seep more and more into the mainstream as it becomes harder and harder to ignore the only question [...]
When the tectonic plates underneath society shift, confusion reigns, together with wishful thinking. It appears that financial markets have again managed to get themselves into a state of unrealistic expectation. The European summit this coming Sunday (or the follow-up summit on Wednesday) is now supposed to bring a “comprehensive plan” to solve the European debt [...]
Regular readers will know that we think the root cause of the ongoing financial/economic/debt crisis boils down to one simple thing. A complete lack of understanding of “what is money”. If we can start to figure out the proper answer to that question the answers to the rest of the problems we face will fall [...]
A fascinating piece or research was released this week by the insurance company esure. It is fascinating because it offers a small insight into the minds of people in the UK when it comes to their attitudes towards gold. The conclusion can only be that the general public still has a long way to go [...]
The government funded Office for National Statistics are out today with the latest breakdown of the Government’s finances – and once again they make for grim reading for anyone left who cares about fiscal sanity. The thing that jumps out is that the ‘official’ (the unofficial is way more than double) debt:GDP in the UK [...]
