Category Archive: 6a) Gold & Bitcoin

Crimea: Digging For The Truth

This summer witnessed a renewed escalation between Russia and Ukraine after Russian President Vladimir Putin accused Ukraine of sending saboteurs to attack Russian troops, targeting “critical infrastructure”. Kiev denied the allegations and claimed Russia’s “fantasy” was nothing but a false pretense to launch a “new invasion”.

Read More »

Silver Returns Earthward

Keith Weiner's weekly look on Gold. Gold and silver prices, Gold-Silver Price Ratio, Gold basis and co-basis and the dollar price, Silver basis and co-basis and the dollar price.

Read More »

Monetary Metals – The Federal Reserve Report

Keith Weiner's weekly look on Gold. Gold and silver prices, Gold-Silver Price Ratio, Gold basis and co-basis and the dollar price, Silver basis and co-basis and the dollar price.

Read More »

Gold Sector Correction – What Happens Next?

The gathering of central planners at Jackson Hole was widely expected to bring some clarity regarding the Fed’s policy intentions. This is of course a ridiculous assumption, since these people have not the foggiest idea what they are doing or what they are going to do next. Like all central planners, they are forever groping in the dark.

Read More »

Gold Withdrawals From The NY Fed Accelerate, Hit 388 Tons Since 2014

First it was Germany who redeemed 120 tons of physical gold from the NY Fed in 2014; then it was the Netherlands who "secretly" redomiciled 122 tons of gold; then last May, we learned that Austria would be the third "core" European nation to repatriate most of its offshore gold, held primarily in the Bank of England, redepositing it in Vienna and Switzerland.

Read More »

Gold and Silver Fundamentals Improve

Keith Weiner's weekly look on Gold. Gold and silver prices, Gold-Silver Price Ratio, Gold basis and co-basis and the dollar price, Silver basis and co-basis and the dollar price.

Read More »

Loose Monetary Policy and Social Inequality

It has been almost eight years since former U.S. President George W. Bush warned the world that “without immediate action by Congress, America could slip into a financial panic and a distressing scenario would unfold.” The government’s response to the crisis was a USD700 billion rescue package that was supposed to prevent U.S. banks from collapsing and encourage them to resume lending, which was soon to be followed by a series of Quantitative...

Read More »

End of Bretton Woods: A Date Which Will Live in Infamy

Franklin Delano Roosevelt called the Japanese “surprise” attack on the U.S. occupied territory of Hawaii and its naval base Pearl Harbor, “A Date Which Will Live in Infamy.” Similar words should be used for President Nixon’s draconian decision 45 years ago this month that removed America from the last vestiges of the gold standard.

Read More »

Gold Trends: The Myth of Leverage

Gold has gone up >400% over the last 16 years. Ironically, it is hard to find a gold mining equity exhibiting similar performance. In retrospect, if one invested in gold, one not only made much better returns, one also took a relatively insignificant risk in comparison to owning equities—equities can go to zero while it is hard for a commodity to fall much below its cost of production.

Read More »

Silver is in a Different World

Keith Weiner's weekly look on Gold. Gold and silver prices, Gold-Silver Price Ratio, Gold basis and co-basis and the dollar price, Silver basis and co-basis and the dollar price.

Read More »

Don’t Expect a Return to a Gold Standard Any Time Soon

Despite trillions of paper currency units poured into the world economies since the start of the financial crisis, there has been no recovery, in fact, all legitimate indicators have shown worsening conditions except, of course, for the pocketbooks of the politically – connected financial elites.

Read More »

Gold and Silver Supply and Demand Report

The prices of the metals didn’t change much this week. We thought we would take this opportunity to quote Warren Buffet. A comment he made at Harvard in 1998 earned him the scorn of the gold community. “Gold gets dug out of the ground in Africa, or someplace. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility. Anyone watching from Mars would be scratching their head.”

Read More »

The World’s Dominant Gold Refineries

There are many precious metals refineries throughout the world, some local to their domestic markets, and some international, even global in scale. Many but by no means all of these refineries are on the Good Delivery Lists of gold and/or silver.

Read More »

Spectacular Chinese Gold Demand Fully Denied By GFMS And Mainstream Media

In the Gold Survey 2016 report by GFMS that covers the global gold market for calendar year 2015 Chinese gold consumption was assessed at 867 tonnes. As Chinese wholesale demand, measured by withdrawals from Shanghai Gold Exchange designated vaults, accounted for 2,596 tonnes in 2015 the difference reached an extraordinary peak for the year.

Read More »

Arizona Considers Issuing a Gold Bond

The Arizona House of Representatives has convened an Ad Hoc Committee on Gold Bonds. The purpose is to explore if and how the state could sell a gold bond. This is an exciting development, as the issuance of a gold bond would be a major step towards a working gold standard.Yours truly is a member of the committee.

Read More »

UK Imported Net 152 Tonnes of Gold in June, 68 from Switzerland

On a firmly rising gold price the UK is one of the largest net importers of gold in 2016. The gold price went up 25 % from $1,061.5 dollars per troy ounce on January 1 to $1,325.8 on June 31. Over this period the UK net imported 583 tonnes and GLD inventory mushroomed by 308 tonnes.

Read More »

Will Ireland Be First Country In World To See Bail-in Regime?

Deposit bail-in risks are slowly being realised in Ireland, after it emerged overnight that FBD, one of Ireland's largest insurance companies, have been moving cash out of Irish bank deposits and into bonds.

Read More »

Real vs. Nominal Interest Rates

Calculation Problem. What is the real interest rate? It is the nominal rate minus the inflation rate. This is a problematic idea. Let’s drill deeper into what they mean by inflation. You can’t add apples and oranges, or so the old expression claims. However, economists insist that you can average the prices of apples, oranges, oil, rent, and a ski trip at St. Moritz.

Read More »

The Fabian Society and the Gradual Rise of Statist Socialism

The Brexit referendum has revealed the existence of a deep polarization in British politics. Apart from the public faces of the opposing campaigns, there were however also undisclosed parties with a vested interest which few people have heard about. And yet, they have been instrumental in transforming Great Britain into a State based on the principles of democratic socialism.

Read More »

Another Serious Real Interest Rate Fallacy

Modern monetary economics is a siren song, especially alluring in a world of falling, zero, and negative interest rates. I urge you not to dash your wealth against the rocks.

Read More »