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Commentaries

Freedom-of-information lament is ironic as FT aids concealment of gold market rigging

Protecting people against deception and cheating used to be the highest ambition of journalism. But these days mainstream financial journalism's highest ambition seems to be to protect the government against the people instead.

A Golden Autumn Ahead?

“Gold shone with the placid certainty of received tradition. Honored through the ages, the standard of wealth, the original money, the safe haven. The value of gold was axiomatic. This view depends on a concept of gold as unchanging and unchanged—nature’s hard asset.”

Technical Scoop: Fiat experiment, rock warning, September shine, Delta hold, debt wrestle, looming shutdown, ominous rise

August 1971 saw the end of the Bretton Woods leading to the end of the gold standard and the start of the latest experiment in fiat currencies. Debt and money have exploded since then. We are reminded that all experiments in fiat currencies ended in tears. Will this time be different?

The 800-Pound Tapeworm in the Room

Still, you have to give the charlatans who manage our expectations their due, since they've riveted investors' attention whenever someone affiliated with the central bank farts, burps or clears his throat. On Friday, Fed Chairman Powell did all three..

Gold Bulls Back in Charge as Delta Variant Spreads

Uncertainty regarding the coronavirus is driving safe haven demand for the precious metal, and knocking the US dollar, considered a proxy for confidence in the US economy.

Fed Chairman Doubles Down on Loose Money as Inflation Rages

While the price action has been frustrating for bulls, it may ultimately be healthy for the long-term bull market outlook. The bigger the base, the bigger the directional move that can follow.

Perfect Storms

The Fed’s mortgage bond purchases have essentially capped mortgage rates at a historically low level. But probably more important, cheap borrowing and low yields elsewhere incentivize investors to buy/build homes for rental..

East Eats Wests Copper Breakfast, Lunch and Supper

Commodities right now are as undervalued as they’ve ever been in history, presenting an optimal buy-in point. If I had to choose one commodity...

Play the Odds: Avoid Gambling in Rigged Markets

Is America becoming a nation of gamblers? The lure of potential cash windfalls is driving rampant speculation in financial markets and record traffic to casinos.

Inflation Growing More Persistent

GDP growth is falling in spite of it all, and prices are pillaging us all. It soon won’t matter that I’ve lost my sense of taste because I won’t be able to afford food anyway.

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