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Stephen Flood

Stephen Flood

Stephen Flood is the CEO of GoldCore. He is a former Wall Street equity trader and FinTech expert. He has been involved in the precious metals markets since 2004 and has appeared as an expert contributor on CNBC, CNN, BBC, RTE & Bloomberg TV and has had articles published in the Irish Times, Irish Independent and The Sunday Business Post.

Articles by Stephen Flood

US CPI Data Release Update

8 days ago

It is easy to get caught up in data releases. The media is keen to read a lot into them, hoping it will offer some sense of what is really going on, so often the news is about numbers just announced or expectations for what one economic measure will show from one month to the next. 
However, as we outline below, many of the numbers that are released on a frequent and regular basis (CPI and employment, for example) can be misleading. Whether it’s down to the inputs or how the figures are presented to us, they rarely give enough insight into the breadth and depth of what is really going on. They are snapshots in a small time frame, with very selective inputs. 
This is why we like gold. Gold is a constant. It is tangible, finite and exists without the say so of

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What Problem Does Gold Solve?

11 days ago

Realising that you need to protect your portfolio from financial systemic risks is a tricky thing. Because, not only have you identified that all is not well in the economy but you now need to make a decision about how best to protect your investments.
In all likelihood, this is why you own or are thinking about owning gold bullion.
Have you ever asked yourself?
What problem does gold solve in today’s environment?
Should I own gold ETFs or gold bullion?
What is and how can you reduce counterparty risk?
GoldCore founder and CEO Stephen Flood answers these questions and more in his chat on The Capital Club podcast. Podcast host Brian Adams does a great job asking Stephen the key questions about the need to hold gold, what kind of gold we should hold and what

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We Didn’t Print Money… Honest We Didn’t And More Baseless ClapTrap from Central Banks

15 days ago

One of the reasons people choose to invest in gold bullion or to buy silver coins is because they are simple and they are finite; basically the opposite of fiat currency. The complexity of fiat-driven markets and infinite possibilities to create money works to the advantage of central banks.

And they particularly like to take advantage when asked by the general public a very obvious question… Central banks are on the defensive over printing too much money during the pandemic. One of the latest examples is a post from the Bank of Canada on Twitter (August 25) stating #YouAskedUs if we printed cash to finance the federal gov’t. We Didn’t.

The Twitter feed went on with an explanation that the Bank of Canada bought bonds from banks in the open market. This was

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When markets forget that Central Banks cannot fix the world with interest rates

21 days ago

It would be easy for those who have decided to buy gold and silver bullion to lose heart over the precious metals, had they seen how prices reacted to Chairman Powell’s comments, last week.
However, to do this would be very short-sighted. Whilst Powell may well have signaled that the Fed will stay on this path of tightening this does not mean that they have resolved the issue. Rather, it likely means that the Fed is reacting a little too hard, a little too late and this will almost certainly pave the way for gold and silver investors.


Central Banks come under scrutiny
The Federal Reserve of Kansas City hosted its annual policy symposium for central bankers on Thursday and Friday of last week.
This was the 45th year of the annual event that is held in Jackson

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The Russian Gold Standard

28 days ago

It is becoming increasingly clear that UN Nations are realising that it is very difficult to isolate a country that is already a global power. And not just a global power in terms of the military but also in terms of the world’s dependence on its energy exports.
However, Russia’s energy exports are not the only thing the West benefits from. One little known fact about Russia is that its highest non-energy export is gold, exporting around $15 billion of gold bullion last year.
Also, when the West really starts annoying Russia, how does Russia respond?
It decides it will find a new way to manage its precious assets, and ensure that it’s to a level respected by its major trading partners, well away from the influence of the US dollar.
One more step in a New World

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History Of Money and Evolution Suggests a Crash is Coming

29 days ago

Today’s guest is as much a historian and anthropologist as he is an expert on market events.
Jon Forrest Little joins Dave Russell on GoldCore TV today and brings some fascinating insights into what we are currently seeing when it comes to political decisions, financial events and human reactions.
From what we can learn from the Romans through to why we need to consider gold’s utility rather than its price, this is an interview bringing a new perspective as to why we are where we are.
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Even if you are not familiar with Jon’s work and commentary then we highly recommend you watch this interview, as new perspectives such as his really help us to understand how we can best protect our wealth and savings in times such as these. And please, don’t

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Why we couldn’t be happier that gold is boring

August 23, 2022

We’re the first to admit that investing in gold can be pretty boring. Don’t get us wrong, when you first decide to buy gold then the newness of it is exciting, as you choose which gold bullion dealer to use then it is interesting and when you actually see the gold bars or coins appear in your account then it’s really exciting.
But then what? There aren’t any major price moves, it’s not like you see any huge crashes or major leaps to keep you on your toes, not like with crypto.
But, as you’ll read below, boring really is the best way to be. Well, when it comes to investments that is.

Gold V/S Crypto
The gold price is hovering around US$1,800 per ounce, where it has averaged since the beginning of 2021.
Your feelings about the gold price likely are similar to

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More energy blows are dealt to Europe, causing a cold chill to be even colder

August 13, 2022

When people ask why they should invest in gold or buy silver coins, we often explain that they should do so because they are a form of insurance. Many of us are taking steps right now to protect ourselves from the impact of inflation on our day-to-day spending, others are trying to manage the increase in interest rates and maybe you are preparing your home so your energy bills won’t be impossible to manage.
These are all ways of insuring ourselves against major changes that we all face. But how are you insuring your savings and portfolio against the impact of inflation, war in Europe (or elsewhere) and other unforeseen events? This is where gold bars or silver bullion comes in. As today’s blog outlines, the energy crisis appears to just be in its infancy, and gas

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Will Silver Prices Go Up to $300?

August 11, 2022

This week’s guest is so bullish on silver that he’s even written a best-selling book ‘The Great Silver Bull’ where he takes an in-depth look at why silver will outperform gold once again and even go as high as $300 an ounce.
Author and investments editor Peter Krauth joins Dave Russell on GoldCore TV to discuss the silver price, silver’s future and how industrial demand will continue to grow, outstripping supply.
Silver’s a big theme for us at the moment, look out for our interview with the silver guru David Morgan, released just a few days ago!
If you enjoyed our chat with Peter Krauth then be sure to subscribe to GoldCore TV and watch our recently launched show The M3 Report. Featuring bonus material from guests such as Jim Rickards and Marc Faber, as well as

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A muddled message from The Fed

July 29, 2022

If you have decided to buy gold bullion or to buy silver coins in the last few months then you may have been delighted with how last night’s Fed press conference went.

If you’re still wondering if or how to invest in gold then it might be worth paying attention to what central banks are doing in the coming weeks. After all, how do central banks make their decisions when it comes to monetary policy? In years before it might have been quite straightforward to answer that question – they look at inflation rates, they look at market indicators, they look at data from statistical agencies and then they decide what to do with interest rates.

But, yesterday US Fed Chair Jerome Powell seemed intent on adding some cloak and dagger to the situation and in doing so

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When Rock begins to beat Paper

July 24, 2022

When you choose to invest in gold it can be confusing to know the best way to add it to your portfolio. Should you buy gold bullion? Should you buy a gold ETF? Or maybe gold mining shares?It’s a minefield!
Here at GoldCore, we see it very simply: if you want to get all of the benefits of holding gold then you should own physical gold. Because if you can’t hold it then you don’t own it.
Never before has this philosophy been more pertinent than in the last few quarters. As more and more has come to light about how the paper gold market is managed. We summarise some recent changes below and highlight some significant imbalances.
The End of the Beginning: Paper Gold V/S Physical Gold
Has the ‘end of the beginning’ arrived for paper gold’s dominance over physical

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Long Term Gold Price Prediction

July 22, 2022

What do the weather and the markets have in common? Quite a bit says this week’s guest! Kevin Wadsworth is a meteorologist-turned-chart analyst who has a lot of interesting insight and predictions into market movements and the price of gold.
Kevin joins GoldCore TV host Dave Russell to discuss how he applies his 35 years of experience and methodology to financial markets. He takes us through the range of outcomes he sees for the economy, the US Dollar and precious metals.
And once you’ve enjoyed this interview be sure to check out our new flagship show The M3 Report. Our latest interview features Marc Faber as well as a Trading Places where we asked six experts what they would do if they were in Jerome Powell’s shoes.
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Inflation Crisis 2022 – Marc Faber Interview (Full)

July 21, 2022

Tune into GoldCore TV where we have just released the full, frank and direct interview with Dr. Marc Faber of the Gloom, Boom, Doom Report in a no-holds barred interview.
Following on from the excerpts shown on last week’s The M3 Report we have today released the full interview with the highly-respected veteran of the investment space.
Dr. Faber chats inflation, the downfall of central bankers and the war against Putin. Also, find out what the best advice he ever received was.
If you enjoyed this interview be sure to subscribe to GoldCore TV and watch our recently launched show The M3 Report. Featuring bonus material from guests such as Jim Rickards and Marc Faber, as well as commentary from our own team and chart analysis from Gareth Soloway. Look out for our new

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Gold traders on trial: Only buy physical

July 15, 2022

Followers of the gold and silver price will have long been aware of the cases brought against large banks for manipulating the precious metals markets.
This week has brought the issue to the fore as three former JP Morgan employees stand trial for “racketeering conspiracy as well as conspiring to commit price manipulation, wire fraud, commodities fraud and spoofing from 2008 to 2016”.
JP Morgan Chase & Co. has long been known to have an oversized influence on the gold paper market. Accounting for upwards of 65% of the derivative contracts in precious metals put through U.S. banks. This is three times that of the next largest Citigroup. Inc.
This week the criminal trial for three of JP Morgan Chase & Co.’s most influential precious metal traders started in

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Episode 2 of The M3 report with Marc Faber

July 13, 2022

Inflation! Trading Places! Marc Faber! Chart Watch! That’s right, it’s episode two of The M3 Report.
It is finally here, what a great way to set you up for the week ahead. Subscribe here if you’re not already receiving alerts.
Our maiden episode was a huge success, and we have really enjoyed hearing everyone’s feedback. We are delighted to see how many new people are discovering the show each day. We really enjoyed making it and that’s why we’ve cracked on and brought you another episode!
Just like in episode one we’ve got great commentary from the GoldCore team and brilliant chart analysis from Gareth Soloway in Chart Watch.
Be sure to listen to Dr Marc Faber’s thoughts on inflation and government in as yet unseen clips from our recent chat with him.
And (our

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Inflation is now out of the control of central banks

July 1, 2022

When “whatever it takes” means confiscation of wealth
One of the reasons people decide to buy gold bullion or add silver coins to their portfolio is because they cannot be devalued. No one can suddenly decide to print more gold or silver! Sadly, this is exactly what happens with currencies around the world. And the last two decades have been prime examples of this. As governments rush to patch up past mistakes, missed warnings and election cycles they resort to creating more money which ultimately leads to higher prices but less value slewing around the system.  
The self reinforcing trends of high inflation have become visible to all. Central banks and governments continue to do “whatever it takes” but now it is “whatever it takes” to deflect blame for the

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How Long Will Inflation Last 2022

June 18, 2022

What if we told you that you could predict the future? For today’s guest, this is certainly the case when it comes to future market events.
He hasn’t got a crystal ball, instead, he has nearly 300 years of historical analysis and models that have led him to the conclusion that markets operate in clear, predictable cycles. For Charles Nenner there is little point in trying to explain why something happened because it did happen and it will happen again.
Charles Nenner is the founder of Charles Nenner research. Using a unique system of cycle analysis and pattern recognition Charles and his team can accurately predict moves in any asset class. Charles spoke to Dave Russell, of GoldCore TV earlier this week.
They discussed inflation, interest rates, and Charles’s

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Is Gold Starting to Behave Itself?

May 14, 2022

Gold is doing what it is supposed to do!
Equity markets are tumbling, “NASDAQ 100 Rout Erases $1.5 Trillion in Market Value in 3 Days” reads one Bloomberg headline.
The big names such as Apple lost over US$225 billion, Microsoft almost US$200 billion, Amazon and Tesla each lost US$175 billion market value over the three trading days from May 4 to May 9.

Bonds are also declining in value as yields are rising. The market selloff has been the most extreme in the tech sector, but most major indices are lower year-to-date.
The chart below shows the gold price along with five different equity indices. In order to compare performance since the beginning of the year, we set January 4, 2022, to 100.
Equity markets have tumbled sharply since the beginning of the year

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Expect the Unexpected from the Fed

April 28, 2022

It has been a rough week in most markets with both equities and bonds declining sharply.
Tech stocks have been pummeled with many ‘big names’ plunging more than 50% (from their 52-week high). Some of the bigger names include Zoom Video -75%, PayPal -73%, Netflix -72%, Meta Platforms (Facebook), -53%.

The equity market decline is coupled with announced layoffs. Robinhood, the popular online trading platform, announced a 9% reduction in full-time staff this week for example.
Markets are expected to decline further as earnings continue to be announced.
With U.S. equity markets on the verge of correction territory and the U.S. yield curve close to inversion the Fed’s predicament becomes even more precarious as they head into their meeting next week.

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The ‘Friend- Shoring’ of Gold- A New World Order?

April 24, 2022

Gold and the US Federal Reserve have a love-hate relationship.

Hate because they both enjoy it when the other one performs badly, but love it because the Fed owns over 8,000 tonnes of gold and would rather no one else had any.

So it was a funny thing when a former Chair of the Federal Reserve proposed measures this week that would go a long way to boosting many aspects of the gold market, including the price of gold bullion…

Janet Yellen knows a lot about the economy.

She has a 1971 Yale Ph.D. in economics.

Yellen also authored countless papers and several books on the economy.

She’s been a professor at Harvard University, London School of Economics, and the University of California Berkeley.

She served in prominent positions in the U.S.

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Is The Ruble Backed By Gold Now?

April 16, 2022

Over the past couple of weeks, we reviewed the U.S. government confiscation of gold by Executive Order in 1933. (see “Gold Confiscation: Will History Repeat Itself?” and “The Facts of Gold Confiscation: The Saga Continues”).
One of the points was that the difference between 1933 and today is that gold is not money for banks today. This means banks are not on a gold standard.
Some observers have stated that the announcement by Russia’s Central Bank on March 25 to purchase gold at a ‘fixed’ 5,000 rubles per gram is a return to the gold standard or that it creates a gold-backed ruble.
Below we provide context to the announcement.
Also, why the central bank buying gold at a ‘fixed’ price is not the same as a gold standard.
Russia Sets its Fixed Gold Price

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Inflation Protection Strategies You Need to Implement Now

April 13, 2022

This week on GoldCore TV, Dave Russell welcomes Tim Price of Price Value Partners. Tim sees the current inflationary pressures as simply the beginning of a bigger move that could end in a new monetary system.
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Gold Price Today – Gareth Soloway

Dave Russell of GoldCore TV welcomes back Gareth Soloway of where we ask if the bull market for stocks is back and if $2,500 on gold is still on the cards for 2022?

The Fed Has No Idea What’s Coming Next!

We will let you know what we are doing once

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Gold Price Today – Gareth Soloway

March 24, 2022

Dave Russell of GoldCore TV welcomes back Gareth Soloway of where we ask if the bull market for stocks is back and if $2,500 on gold is still on the cards for 2022?
What role does the inversion of the yield curve play in signaling a US recession?
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Gold Gives You Personal Sovereignty

Dave Lukas of Misfit Entrepreneur invites Stephen Flood, CEO of GoldCore, to the show. Dave and Stephen talk about what people should know before investing in gold and silver, the present state of inflation, central banking, and the monetary system.
Further, he explains why gold is still your safe-haven asset and how it

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The Fed Has No Idea What’s Coming Next!

March 18, 2022

We will let you know what we are doing once we know what we are doing
was the message from the Federal Reserve statement and Chair Powell’s press conference that followed.
The Fed, as widely expected did raise their short-term rate, known as the fed funds rate, by .25% to a range of 0.25% to 0.50%.
This was the first increase since 2018.
Along with the statement FOMC (Federal Open Market Committee) participants also released their Summary of Economic Projections.
This gave an indication of where the committee members view economic indicators going forward.

FOMC Summary of Economic Projections
There are a few of the FOMC projections that we want to point out in the table below.
The first is that the FOMC participants are now projecting U.S. GDP growth this year

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Gold Gives You Personal Sovereignty

March 9, 2022

Dave Lukas of Misfit Entrepreneur invites Stephen Flood, CEO of GoldCore, to the show. Dave and Stephen talk about what people should know before investing in gold and silver, the present state of inflation, central banking, and the monetary system.
Further, he explains why gold is still your safe-haven asset and how it provides you with personal sovereignty. They also talk about cryptocurrencies and their future.
Stephen also discusses some of the lessons he’s learned along the route to being a successful entrepreneur.
Click to Listen to the Podcast

The Truth About The National Debt
Watch David M Walker Only on GoldCore TV
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SWIFT Ban: A Game Changer for Russia?

March 4, 2022

As part of the sanctions against Russia, seven Russian banks have been cut off from SWIFT.

We start by discussing what SWIFT is, and then the implications of completely cutting Russia out of SWIFT.

What is SWIFT and Why Russia is Being Excluded

SWIFT – The Society for Worldwide Interbank Financial Telecommunication is a messaging system that links more than 11,000 banks in 200 countries.

The system doesn’t move actual money between the banks but transmits messages between banks with instructions to settle transactions.

Additionally, this system is crucial to the international trade system – without it, countries wouldn’t be able to settle trade transactions between countries.

The bar charts in the graphic from the Wall Street Journal

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The ‘Fed Put’ – Gone Until There’s Blood in the Streets

January 30, 2022

The ‘Fed put’ – gone until there’s blood in the streets
Well, it’s happening.  Bitcoin (and other cryptocurrencies are sharply down, along with equity markets in many advanced economies.
And the Federal Reserve (the U.S. Central Bank) statement and press conference on Wednesday didn’t indicate any backing down from raising interest rates, maybe as soon as the March meeting.
The Fed’s stance pivot from ‘the economy needs additional stimulus’ to ‘it is time to start tightening policy’ came at the end of 2021 when Fed officials changed their view that 40-year high readings on consumer price inflation was due to transitory factors and will subside on its own.
Their new stance that high inflation is permanent and is what ensures tighter policy. The Fed has already

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European Energy Crisis: 4 Things You MUST Know!

January 23, 2022

European Energy Crisis: 4 Reasons You MUST Know!
European households are facing rising prices on many goods and services, but one particular standout is electricity and gas bills.

According to Bank of America, European household gas bills are expected to rise to €1,850 in 2022 from €1,200 in 2020 (an ~55% increase).
Natural gas prices have pulled back from the December peak. However, it remained high and it could get worse over the remainder of the winter months.
Reasons for the energy crisis are not entirely straightforward as the global energy market is interconnected and quite complex.
However, below we outline some of the key issues:

European Gas Prices Chart

A. Europe reliant on Gas Imports as Domestic Production
Europe is increasingly reliant on gas

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Gold Price News: Gold Down 1% in Wake of More Hawkish Federal Reserve Meeting Minutes

January 9, 2022

Gold price fell to $1,808 an ounce in the wake of the release of the minutes of the December Federal Reserve meeting, having hit an intra-day high of $1,829. Silver price fell to $22.72 an ounce from an intra-day high of $23.26.
Gold and silver have continued to sell off this morning with gold trading as low as $1,794 and silver trading down to $22.14.
The FOMC minutes showed a much more hawkish Fed than markets had been expecting.
The minute suggests that the Fed could be very aggressive in reducing their $9tn balance sheet.
They specifically highlighted their concerns with inflation (no longer transitory).
Why Buy Gold In 2022Watch Stephen Flood on GoldCore TV
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The minutes did not put any timeframe on when they might begin this reduction.

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The Black Friday Stock Market Crash – Gareth Soloway

November 30, 2021

Black Friday 2021 saw the largest stock market sell-off since 1931.
Is this the start of a bigger crash, has the trend changed or is this just a one-time blip?
We ask Gareth Soloway of what his charts are suggesting and why he is so bullish on gold
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Why Governments Hate Gold

Do governments hate gold?  The answer: Yes — Governments hate gold because they cannot print it, and it is difficult for them to control.

Gold is Boring – That’s Why You Should Own It!

Gold and silver price actions

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