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Commentaries

Something Funny Happened on the Way to the Bond Market

The anomalous vertical jolts suggested sudden huge moves by a massive whale in US bonds.

Central Banks Added More Gold in March But Big Sales Sent Net Purchases Negative

The surging gold price was likely a factor in slowing central bank gold accumulation. As the World Gold Council put it, the higher price prompted “a more cautious approach.”

Debt-to-GDP Eclipses 100 Percent (And It's Actually Worse Than That)

If you go to the national debt clock, it shows the debt-to-GDP ratio at 122 percent. It’s been in that range for well over a year.

Government Kills the Spirit

Government ownership of all or part of private businesses is the epitome of economic fascism.

India Continues to Bring Its Gold Home

In spring 2024, India brought home 100 tonnes of gold, repatriating it from vaults in the UK. Over the last six months, the Reserve Bank of India has repatriated another 104 tonnes.

Dominic Frisby on the Enduring Power of Gold

Host Mike Maharrey sat down with British comedian, author, and financial commentator Dominic Frisby to explore the deep historical and modern significance of gold. 

PM Sector Major Alert...

We are going to look at strong evidence that the PM sector bottom is in – we will also see why downside risk here now looks minimal and why the next major upleg looks set to begin soon...

Mayday on May Day

Gold sits outside the network of liabilities that define modern finance, offering a reserve asset not subject to the same vulnerabilities as currencies or sovereign debt.

$350 Billion Isn’t Chump Change

The Fed’s responsibility for price stability seems a laughable presumption. A little bit of inflation can go a long way when applied conscientiously.

WWWD?

Warsh's first meeting as Chair will be June 16 – 17. It is widely expected that he will cut interest rates at that point. I think you could easily get more than three dissents on that, as the macro environment is just not conducive to rate cuts, no matter what President Trump says.

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