Sunday, April 23rd, 2017 MST

Category: Inflation

Modi paper money cancellation crushes gold

Tuesday last week, India’s Prime Minister Narendra Modi demonetized 86% of the money in circulation, except for special uses. Ostensibly, it was a move to check black money, i.e., counterfeit money, money that was gotten through graft or corruption and money on which taxes had not been paid. In the four trading days following the

Driving the markets

Central bank actions and expectations of central bank actions are driving investment markets: the bond markets, the equity markets and the metals markets.  Economic news does not move the markets, except that markets move on how investors think that central banks will react to economic news.

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