Tag Archive: Uncategorized

Second lockdown in Europe

As the long-awaited “second wave” of the corona pandemic sweeps through Europe, another round of severe restrictions, travel bans and rules that prevent the proper function of international business and trade threatens to once again disrupt all kinds of sectors, including the gold industry. 

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Gold Is Money – Everything Else Is Credit – J.P. Morgan – Part II

Rafi Farber, pen name Austrolib, is the publisher of The End Game Investor, a daily market commentary written from an Austrian economics perspective focusing on precious metals, the Comex, and monetary analysis. His work is followed by leaders in the precious metals industry including Eric Sprott. He also writes a weekly column on the gaming industry at CalvinAyre.

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Unless the US stops printing money, the dollar will collapse

Claudio Grass (CG): This crisis has shaken a lot of industries and core functions of the global economy and international trade. How do you assess its impact on the most important part of the machine, the banking system? Do you see risks there that investors should be worrying about?

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US election: Red flags for investors

Outlook and wider impact. As showcased during the debates and in the entire campaign rhetoric, politicians in the US but also in Europe, are solely focused on promoting solutions that only serve to paper over the problems and address the symptoms of the disease.

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Kantonaler Wahlnotstand

In wenigen Tagen wird im Kanton Aargau, aber auch in anderen Kantonen, das Kantonsparlament und die Kantonsregierung gewählt. Der Wahlkampf ist eher flau. Vielleicht weil es daran liegt, dass das grösste Thema einfach totgeschwiegen wird: Corona wird bei keiner Partei auch nur schon erwähnt (und wenn doch, bitte zeigen Sie’s mir!).

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We don’t have to kill the king, if we just can ignore the king

“The right of self-determination in regard to the question of membership in a state thus means: whenever the inhabitants of a particular territory, whether it be a single village, a whole district, or a series of adjacent districts, make it known, by a freely conducted plebiscite, that they no longer wish to remain united to the state to which they belong at the time, but wish either to form an independent state or to attach themselves to some...

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“The U.S. economy felt like a balloon in search of a needle” – Part II

In this surreal policy environment, how has the role and the investment process of the value investor evolved, especially over the last decade?  How can one still identify value in a world of subsidized binge borrowing, extreme indebtedness, and stock buybacks? 

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“The U.S. economy felt like a balloon in search of a needle” – Part I

As we move deeper and deeper into this covid crisis, more and more people understand that there’s a lot more to fear besides the disease itself. As the economic impact and the full scale of the damage caused by the lockdowns and the shutdowns become undeniable, there are too many questions lacking any sort of convincing answer and the future for so many employees, business owners, investors and ordinary savers seems bleak and uncertain.

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You cannot print your way to prosperity – Part II

Looking at the damage inflicted upon supply chains, production facilities and global trade in particular, how quickly could these operations snap back even if all COVID-related restrictions were lifted tomorrow? Do you think we’ll eventually get back to business as usual, or have we now experienced a permanent shift to a “new normal”?

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Gold doing what it does best – Part II

While the economic forces that drive this rush to precious metals are clearly understandable, there are other, deeper and less obvious factors that must also be taken into account. This “fear of uncertainty”, which pushes demand for gold higher as it has done so many times in the past, is different this time.

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A blueprint for a European superstate

After intense negotiations, long days and nights of clashes and a distinctly sour note underlying the entire summit, European Union leaders finally agreed on an unprecedented 1.82 trillion-euro ($2.1 trillion) budget and COVID recovery package.

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Is the West repeating India’s mistakes?

Following the publication of our last conversation with Jayant Bhandari, I received a lot of interesting feedback and remarks. The common denominator of all those comments was the astonishment of many Western readers at the real conditions and dynamics on the ground in India.

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

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

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

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

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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Restricted Market Trading Comments

By Dara O’Sullivan, Derrick Leonard, and Ilan Solot. As the week commences, a few markets such as Sri Lanka and Philippines are extending their lockdown periods while others such as Nigeria and Kenya continue to experience USD liquidity issues. Please see comments below.

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Restricted Market Trading Comments

With many markets still under lockdown and some going out on Easter holidays this week, we continue to see amended trading hours. The most notable change has been in India with a reduction in trading hours, while in Nigeria we saw a small amount of liquidity being released by the Central Bank of Nigeria (CBN). Below are our updates for the week.

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Is gold still a safe haven?

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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COVID-19 – Auslegeordnung

In den vergangenen Tagen habe ich mich immer wieder gefragt, “wo besteht eigentlich das Problem?” Zu oft habe ich das Gefühl, dass viele Experten, Medien und Politiker mit den Zahlen ein Durcheinander haben und so mehr zur Verwirrung als zur Klärung beitragen. Deshalb hier der Versuch einer strukturierten Aufschlüsselung.

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