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Commentaries

Copper Mine Replacement by Acquisition

The potential confirmation of U.S. tariffs on refined copper is one of the most explosive catalysts for further supply tightening and a continued rally in global prices.

The Headlines Change, the Monetary Reality Does Not

A token may make gold easier to transfer, but it does not necessarily make ownership safer. Investors still need to know whether the underlying metal actually exists, whether it is allocated and independently audited, who controls custody, and what happens if an issuer, exchange, custodian, or technological system fails.

If Rats Can Eat Your Money, It's Probably Not Good Money

One of Aristotle’s four characteristics of good money is durability. In other words, money must stand the test of time. It can’t break down, rot, or corrode easily.

Revisiting Muddle Through

Seriously, the economy is growing about the same as it has from the last two decades: a nice, solid Muddle Through. The great fly in the ointment is inflation.

America’s Fading Hegemony and the New World Order

The U.S. has devolved into a bankrupt multicultural domestic empire. The Government’s $40 trillion—and rapidly growing—debt can never be paid off.

Central Banks Piled in More Gold in July

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

Preparing for the Next System Shock: Central Banks Move Gold to London

We walk through what actually happened, why London rather than somewhere closer to home became the destination, and what a 1930s precedent tells us about the weight behind this decision.

The Netherlands Moves Gold Out of North America Citing Geopolitical Risk

Notably, countries with historically friendly relations like the Netherlands are beginning to judge the U.S. as a political risk.

Both Sides Are Losing This War

The Russia-Ukraine war has reached a dynamic and unpredictable moment. This is not like the ongoing US-Iran war in the Middle East, which is becoming a farce.

The Fed’s No-Exit Ramp: Debt, Dollar Debasement, and the Case for Gold

Maharrey compared the Fed’s predicament to missing an exit on a highway. The longer a driver is forced to keep going in the wrong direction, the more difficult and frustrating the eventual turnaround becomes.

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