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Investors following the housing and the bond markets will find Ambrose Evans-Pritchard’s “Banks set to call in a swathe of loans” an interesting, if not frightening, read. “The fast-moving crisis at two Bear Stearns hedge funds,” the article notes, “exposed the underlying rot in the US sub-prime mortgage market, and the vast nexus of collateralised
When I woke to lower metal prices this morning, I was somewhat taken aback. I had just read Gene Arensberg’s report on the huge reduction in the large commercials’ long position in the dollar. The LCs, who had been bullish on the dollar, reversed course last week. As Arensberg notes, the LCS are thought to
Three months ago, CMIGS posted an article about The Perth Mint’s plans to close its Lunar Series. At that time, final orders for the Series were to be taken the last week in June. Now, final orders will be taken the last week in August. The extension came about because the Treasury took longer than
The Swiss National Bank announcement that it will be selling 250 tons of gold over the next two years continues to get a lot of press. However, the gold market is treating the news with disdain. Overnight in the Asian markets, gold rose to its highest levels in more than a week with gold hitting
The Swiss National Bank, Switzerland’s central bank, just announced plans to sell 250 metric tons of gold over the next two years. The gold market reacted with a yawn, actually posting higher prices as the news spread, and appropriately so. The sales will be within the Central Bank Gold Agreement, which limits sales by fifteen
Friday the European Central Bank (ECB) announced that it had sold 37 tons of gold and that together with the sales of 23 tons completed in November 2006 it had sold 60 tons this year. Sixty tons (1,929,060 toz) is a lot of gold, and the sales, undoubtedly, had a lot to do with some
Many people eschew any opportunity to understand money and economics, thinking them arcane subjects or even impossible to grasp. Luckily, we have a number of economists who write in a manner that makes money and economics understandable. Hans Sennholz is one of them. Hans Sennholz was Professor of Economics and Chairman of the Department of
