Gold is being supplied by western governments
There has been considerable throughput of gold in western capital markets, with substantial buying from all round the world following the April price crash….
The nonsense behind state intervention
Both Keynesians and monetarists believe that increased government spending, or more money injected into the economy, is sometimes necessary. The intervention is in the…
Why gold is money
It is clear that Western capital markets no longer generally regard gold as money. It has been relegated to the status of a risk…
The geopolitics of gold
Western central banks have got themselves horribly wrong-footed as a result of not adjusting their anti-gold policies to allow for the realities of Asian…
Bank balances and gold
There has been a growing shift in favour of assets relative to bank deposits. This was initially encouraged by zero interest rates, but more…
The case against deflation
Regular readers will know I am in the inflation, possibly hyperinflation camp; but there are those that think the future is more likely to…
Goodbye to austerity
There is a new campaign to end austerity. First, the IMF lets it be known it has second thoughts about it; then we are…
Physical gold vs paper gold: waiting for the dam to break
Introduction In this article I will argue that the recent slide in the gold price has generated substantial demand for bullion that will likely…
The bankruptcy of governments
The following is a transcript of the “Adam Smith Lecture” I gave at a private gathering in London on 19 February. For a long…
Danger in bank accounts
It has been obvious for some time that banks in many jurisdictions are insolvent and that they are simply too big for governments to…