Note: all references to inflation are of the quantity of money and not to the effect on prices unless otherwise indicated. In last week’s article I showed why ... Read More
This article examines two inflationary experiences in the past in an attempt to predict the likely outcome of today’s monetary policies. The German hyperinflation of 1923 demonstrated that ... Read More
In the wake of the Fed’s promise of 23 March to print money without limit in order to rescue the covid-stricken US economy, China changed its policy of ... Read More
Many central banks are researching retail digital currencies, which if implemented, would allow them to issue a new currency directly to the public, managed on a centralised ledger bypassing ... Read More
There appears to be no way out for the bullion banks deteriorating $53bn short gold futures positions ($38bn net) on Comex. An earlier attempt between January and March ... Read More
Introduction The Euro Crisis Monitor (above) shows the increasing imbalances in the TARGET2 settlement system between all its members: the ECB (itself with a €145bn deficit) and the national ... Read More
In recent articles for Goldmoney I have pointed out the dollar’s vulnerability to a final collapse in its purchasing power. This article focuses on the factors that will ... Read More
This article summarises why the credit cycle leads to alternate booms and slumps. It is only with this in mind that they can be properly understood as current ... Read More
We are all used to the bullion banks covering their shorts on Comex by waiting until the speculators are over-bullish and vulnerable to mark-downs that trigger their stops. Algorithmic ... Read More
Dollar-denominated financial markets appeared to suffer a dramatic change on or about the 23 March. This article examines the possibility that it marks the beginning of the end for ... Read More
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