Although many gold buyers readily accept that “gold is real money,” few can explain why gold is real money and why moving away from gold as money to fiat money distorts economic activity. The distortion being a boom followed by a bust, and the size of the distortion being determined by the amount of the
Frank Holmes of U.S. Global Investors recently published an excellent brief history of the role that gold has played in the American economy since 1789. Although a few salient facts were left out, the essay is an excellent, informative and easy read.
In the scheme of things, Greece’s problems are small potatoes compared with China’s. What makes the possibility of a Grexit (Greece exit from the Eurozone) significant is that it would call into question the concept of a unified Europe. If Greece exits, what about Portugal, Spain and Italy, which are also struggling with massive debt?
Greece remaining in the eurozone monetary system and keeping the euro as its currency appears less likely at the end of every marathon meeting of eurozone prime ministers and Greek representatives. Many analysts are of the opinion that dumping the euro and going back to the drachma would alleviate some of Greece’s pain. Of course,
China has come a long way since the days of Richard Nixon’s and Henry Kissinger’s “Ping Pong Diplomacy.” Its economy has grown to be the world’s second largest economy, and its manufacturing base is home to consumer products used around the globe. Now, China has broken into a nearly century-old financial club, the London Bullion
One of the reasons gold and silver prices are stuck in a narrow trade range is that stocks are stuck in a narrow trading range. Still, widely-followed indexes recently made new highs, specifically the S&P 500, the NASDAQ and the Dow Industrials. However, the much ignored (except by professionals) Dow Transportation index is some 850
Five megabanks–Barclays, JPMorgan Chase, Citigroup, the Royal Bank of Scotland and UBS–are expected to plead guilty to rigging currencies markets; collectively, they will pay fines in the billions of dollars. And, we’re supposed to continue believing that the bullion banks never manipulated the gold and silver markets.
It was an embarrassing defeat for the US as it failed to keep its major allies from seeking membership in the China-sponsored Asian Infrastructure Investment Bank (AIIB), which will provide Asian countries an alternative to the US-dominated IMF, World Bank and Asian Development Bank. Allies seeking membership include the UK, Australia, Germany, France and South
Following the March 18 “Statement” by the FOMC that any interest rate increase would probably not come until September, stocks moved from negative territory into big upside gains. Truly, the markets liked the idea that any interest rate hike would put off until later in the year. However, the following week the Dow Industrials plunged
Wars, economic crises and stock market declines have major impacts on investor interest in the precious metals. Leaving the potential for wars and economic crises aside, what is the likelihood that stocks are set to enter a period of declining prices?
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