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The Eurozone’s financial disintegration

July 31st, 2020 (0)
Introduction The Euro Crisis Monitor (above) shows the increasing imbalances in the TARGET2 settlement system between all its members: the ECB (itself with a €145bn deficit) and the national central banks in the Eurozone. Other than minor differences reflecting ...

The pound’s future in a dollar collapse

July 28th, 2020 (0)
  In recent articles for Goldmoney I have pointed out the dollar’s vulnerability to a final collapse in its purchasing power. This article focuses on the factors that will determine the future for sterling. Sterling is exceptionally vulnerable to ...

Explaining the credit cycle

July 24th, 2020 (0)
  This article summarises why the credit cycle leads to alternate booms and slumps. It is only with this in mind that they can be properly understood as current economic conditions evolve. The reader is taken through three monetary ...

The new deal is a bad old deal

July 10th, 2020 (0)
So far, the current economic situation, together with the response by major governments, compares with the run-in to the depression of the 1930s. Yet to come in the repetitious credit cycle is the collapse in financial asset values and ...

A potential crisis in Comex gold

July 8th, 2020 (0)
We are all used to the bullion banks covering their shorts on Comex by waiting until the speculators are over-bullish and vulnerable to mark-downs that trigger their stops. Algorithmic traders go from long to short in a heartbeat as ...

Prices are going to rise — and fast!

July 7th, 2020 (0)
  With stockmarkets barely ruffled, few are thinking beyond the very short-term and they are mostly guessing anyway. Other than possibly the very short-term as we emerge from lockdowns, the economic situation is actually dire, and any hope of ...

The crisis goes up a gear

June 22nd, 2020 (0)
Dollar-denominated financial markets appeared to suffer a dramatic change on or about the 23 March. This article examines the possibility that it marks the beginning of the end for the Fed’s dollar. At this stage of an evolving economic ...

MMT —it’s just neo-Keynesian macroeconomics

June 12th, 2020 (0)
  The doyenne of MMT, Stephanie Kelton, has published a book this week explaining modern monetary theory. This article examines the foundations of MMT which Kelton explained in an earlier video released last year. Introduction Macroeconomics has become so ...

Statistics, lies and the reservoir effect

June 4th, 2020 (0)
This article debunks the misconception that GDP represents economic health. It explains how monetary flows have led to markets in financial assets inflating while non-financials in the GDP bucket are in deep distress. And why, at a time of ...

Unintended consequences of monetary inflation

May 15th, 2020 (0)
  “In short, the Fed is committed to rescue businesses from the greatest economic catastrophe since the great depression and probably even greater than that, to fund the US Government’s rocketing budget deficits, fund the maintenance of domestic consumption ...
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