Tag Archive: Gold

“The illusions of Keynesianism create a morally corrupt society” – Part II

2020-06-27

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2020-06-27

Claudio Grass (CG): Overall, apart from the obvious economic consequences of the crisis, do you also see geopolitical and social ones, on a wider scale? Given all these “moving parts”, from the upcoming US election and internal frictions in the EU to the Hong Kong tensions and the rising public discontent in Latin America, where do expect the chips to fall once this is over? 

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The War On Cash – COVID Edition Part II

2020-06-21

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2020-06-21

The digital “toll” It doesn’t require too dark an imagination to realize the gravity of the concerns over the digital yuan. China is a true pioneer when it comes surveillance, censorship and political oppression and the digital age has given an incredibly efficient and effective arsenal to the state. Adding money to that toolkit was a move that was planned for many years and it is abundantly clear how useful a tool it can be for any totalitarian...

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Technocracy vs Liberty

2020-06-11

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2020-06-11

“I prefer true but imperfect knowledge, even if it leaves much undetermined and unpredictable, to a pretense of exact knowledge that is likely to be false.” Friedrich August von Hayek

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FX Daily, June 10: Corrective Forces Still Seem in Control Ahead of the FOMC Outcome

2020-06-10

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2020-06-10

The pullback ins US shares yesterday has not derailed the global advance. Japanese and Chinese markets were mixed, the Hang Seng slipped, and Indonesia was hit with profit-taking, but the MSCI Asia Pacific Index eked out a small gain. It has fallen once past two and a half weeks. The Dow Jones Stoxx 600 opened higher but is falling for the third consecutive session.

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An unexpected blow to the ECB

2020-05-27

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2020-05-27

Since the beginning of the year, the corona crisis has come to monopolize the news coverage to the extent that a lot of very important stories and developments either went underreported or were ignored altogether. One such example was the very surprising ruling out of the German Constitutional Court in early May, that challenged the actions and remit of the ECB.

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“We are expecting a new wave and we’re prepared for it.”

2020-05-15

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2020-05-15

Gold Prices, 2015-2020
Interview with Robert Hartmann, Co-Owner ProAurum, Over the last couple of months, we’ve witnessed unprecedented changes in the global economy, in the markets and in our societies. The corona crisis and the governmental measures that were introduced had a dramatic and direct effect on all of us, as investors and as citizens. 

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New Month, New Trends?

2020-05-05

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2020-05-05

The dollar fell against all the major currencies and most of the emerging market currencies last week. The Dollar Index fell by 1.3%, the biggest loss since the last week of March, and posted its lowest close in nearly three weeks ahead of the weekend. There seemed to be a change in the market after key equity benchmarks, like the MSCI ACWI Index of both emerging and developed markets put in a recovery high in the middle of last week.

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Hard talk with Václav Klaus: “The people should say NO to all of it.”

2020-05-05

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2020-05-05

As we get deeper into this crisis and we get used to our “new normal”, it’s easy to focus on the daily corona-horror stories in the media or the latest shocking unemployment numbers, and lose track of the bigger picture and of what is really, fundamentally important. Even as the lockdown measures begin to get phased out, the scale of the economic damage is unimaginable and the idea of returning to “business as usual” is no longer tenable.

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THE BITCOIN HALVING REVISITED – With Ann Rhefn

2020-05-01

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2020-05-01

What is the Bitcoin Halving and What Might it Mean for the Price Watch “THE BITCOIN HALVING REVISITED – With Ann Rhefn”

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Nothing Is What It Seems

2020-04-10

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2020-04-10

My latest interview about Corona, Liberty, Private Property, Authoritarism, and a fear-mongering global media campaign, which I call borderline criminal [embedded content]

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Is gold still a safe haven?

2020-03-27

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2020-03-27

There have been moments in recent months when many gold owners, myself included, have asked themselves whether gold might have lost its safe haven status, at least in the western world. Was it enough for two generations, who grew up in a paper money system, to forget the history and the 5000-year-old status of gold as real money? 

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A crisis is a terrible thing to waste – Part I

2020-03-21

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2020-03-21

“You never want a serious crisis to go to waste. And what I mean by that, it’s an opportunity to do things you think you could not do before.” -Rahm Emanuel, Barack Obama’s Chief of Staff from 2009 to 2010. Only a couple of weeks ago, if anyone told you that your entire country would be basically shutting down, that events and public gatherings would be outlawed, that you’d be looking at empty shelves in your local supermarket and that the global...

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Socialism and Gold

2020-03-04

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2020-03-04

Most people assume that the central bank prints money when it buys bonds. They further assume that this increase in the quantity of money causes an increase in the general price level. And, this leads them to assume that the value of the money is 1 / P (P is the general price level). Therefore, when the central bank prints money to buy bonds, it is diluting the value of the money held by everyone—in proportion to the amount printed divided by the...

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Modern Monetary Theory is an old Marxist Idea

2020-02-28

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2020-02-28

Modern Monetary Theory, or “MMT”, has been getting a lot of attention lately, often celebrated as a revolutionary breakthrough. However, there is absolutely nothing new about it. The very basis of the theory, the idea that governments can finance their expenditures themselves and therefore deficits don’t matter, actually goes back to the Polish Marxist economist, Michael Kalecki (1899 – 1970). 

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Gold is the 7th sense of financial markets

2020-02-22

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2020-02-22

Claudio Grass (CG): Looking at the interest rate policy of the last years, it would seem that central banks are backed into a corner. They cannot hike borrowing costs without risking a domino effect, as both government and corporate debt have reached record highs, encouraged by the central banks’ own NIRP and ZIRP policies. In your view, is there a “safe” way out of this vicious circle?

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Gold is the 7th sense of financial markets

2020-02-19

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2020-02-19

Gold Price Performance: percent Annual Change
As we embark on this new decade, there are plenty of good reasons to be optimistic about gold’s prospects. The global economy and the financial system are already stretched to a breaking point and demand for precious metals is heating up. This, of course, is plain for all to see, even as mainstream investors and analysts still refuse to face facts and prefer to focus on naïve hopes of an eternal expansion.

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Das Internet – die dezentrale (R)Evolution

2020-01-29

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2020-01-29

Menschen werden durch unterschiedliche Motive angetrieben. Die einen sehen das höchste Glück in der Ansammlung von materiellen Werten, und andere sind von geistigen Werten angetrieben. Eine Idee kann genauso wie eine Rolex Glücksgefühle und Ansporn auslösen. Mich persönliche treiben Ideen an.

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What lies ahead for gold in 2020

2020-01-28

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2020-01-28

Over the last few months, gold’s performance has been remarkable. Many market observers and mainstream analysts have pointed to various geopolitical developments in their efforts to explain away the bullishness as a reaction to whatever happens to be in the headlines at the time.

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The owl has landed: Lagarde’s new vision for the ECB

2020-01-11

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2020-01-11

On December 12, Christine Lagarde introduced her goals and vision in her first rate-setting meeting as the new President of the ECB. On the actual policy front, there were no surprises. She remained committed to the path set by her predecessor, Mario Draghi, and kept the current monetary stimulus unchanged.

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Corporate Debt Time Bomb

2019-12-21

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2019-12-21

US Non-Financial Corporate Debt as Percent of GDP, 1955-2019
While I have reportedly highlighted the many risks of the current monetary policy direction and the multiple distortions that it has created in the markets, in the economy, and even in society, one of the most pressing dangers of the unnaturally low rates and cheap money is the staggering accumulation of debt. Nowhere is this more obvious than in the ballooning corporate debt, especially in the US.

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