gold money

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End Of Credit Cycle Dynamics

15/08/2018(0)
  While there is no starting-pistol that tells us the final phase of the credit cycle leading into the next credit crisis has actually begun, nearly all the signs ... Read More
saudi-arabia

Taking the petro out of the dollar

04/05/2016(0)
Saudi Arabia has been in the news recently for several interconnected reasons. Underlying it all is a spendthrift country that is rapidly becoming insolvent. While the House of Saud ... Read More
economics

Advice to the Prime Minister/President

19/11/2015(0)
Your country faces a stagnating economy. Let us assume your Prime Minister (or President if that is who holds the executive power) seeks advice from two imaginary economists. PM: ... Read More
interest rates

The declining interest rate cap

17/11/2015(0)
Believe it or not, one of the topics in economics that confuses macroeconomists is the actual role of interest rates. For the most part they just assume that an ... Read More
Central Banks

The end-point in financial credit

06/11/2015(0)
Since the 1980s, markets have had to adapt to a world of infinite credit. Of course, this credit has not been available to everyone: it has been principally deployed ... Read More
Fiat Money Quantity

Fiat money quantity update

30/10/2015(0)
After a few months of slower growth, FMQ has picked up again. FMQ is the sum of True Money Supply (as defined by the Austrian School of Economics), plus ... Read More
interest rates

NIRP, its likelihood and effect on commodities

05/10/2015(0)
In last week’s article I pointed out that negative interest rates should lead to a general shift in consumer preferences from money towards essential goods. Central bankers may wish ... Read More
interest-rates

From ZIRP to NIRP

25/09/2015(0)
The sudden end of the Fed’s ambition to raise interest rates above the zero bound, coupled with the FOMC’s minutes, which expressed concerns about emerging market economies, has got ... Read More
currencies

Equity markets and credit contraction

11/09/2015(0)
There is one class of money that is constantly being created and destroyed, and that is bank credit. Bank credit is created when a bank lends money to a ... Read More
dollars

The danger of eliminating cash

04/09/2015(0)
In the early days of central banking, one primary objective of the new system was to take ownership of the public’s gold, so that in a crisis the public ... Read More
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