Well if you ever needed PROOF that gold is not money, but rather simply an asset class, all you need to do is look at what governments are doing. They are hunting for anything of value. We are likely going to see a migration of assets from Europe to the USA, as took place prior and during World War […]

China’s move to create a yuan based contract for gold was portrayed by the gold promoters cheering this as their savior, but for all the hype, the mere fact that gold will trade in yuan was neither bullish for gold nor any means of displacing the dollar. What this development does is effectively provide a […]

It has taken a while but today we saw the return of the sellers in the oil market. TWI and Brent both down around 1.7%, taking TWI to 48.25 last trade. Natural gas also took a beating, down almost 3% at 2.825. Gold did try to bounce and spent the majority of the day above 1100, but as […]

The problem with gold has been the gold promoters who use sophistry to sell their product, convincing so many people to lose everything they invest. The hate mail has started again, claiming I am “bashing the gold bugs” as if this were a sport. Sadly, this illustrates how there will always be those who go down with […]

The CME has closed floor trading, which I contend will add to the crisis in LIQUIDITY. It is true that the argument has been that the floor traders amount to only a small percentage of the actual trading volume. However, they provide liquidity when there are gaps in electronic trading. In the process, many contracts […]

Asian equities did not stand much of a chance from the open as Apple had taken it on the chin upon releasing their results! A 7% decline in after hours trading wiped around $66Bln off the share price and put Asian markets on the defensive from the start. By lunchtime, the Nikkei, the Hang Seng, […]

It was about 20 years ago when Wolfgang Schäuble, current German Finance Minister, wrote his paper on the danger in the Eurozone reflecting on European policies, even describing his tough behavior towards Greece. Schäuble is the politician who has done much to shape contemporary Germany, and his falling out with Helmut Kohl remains alive and well to this day.  The key point […]

Polish EU Council President, Donald Tusk, was shocked by the fierce debate over the Greek bailout in the EU Parliament. He told the FT: “It was the first time that I have seen radical with such emotions. It was almost half the European Parliament. Therefore, I believe that no one is a political winner in this process, not even […]

Most precious metals traders breathed a sigh of relief this morning when they awoke to see that gold was not massacred in Asia (again) and was almost unchanged from the New York close. That said, we did not see a bounce-back after yesterday’s $40 decline of any significance, which will leave traders weary of further declines. […]

There is little doubt that the government has been building internment camps to use during periods of civil unrest as socialism collapses. People who think this is just a conspiracy are totally unfamiliar with how those in government use the law. I became the longest person ever held by a federal judge in prison on CIVIL CONTEMPT, which […]