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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

The Bitcoin is ‘as-good-as-gold’ myth is over

11 days ago

When you invest in gold or buy silver coins with GoldCore you are choosing to invest in an asset that has no counterparty risk.
Sadly those who have been holding their bitcoin on the crypto exchange FTX, have not experienced the same level of reassurance and service from the exchange’s management.
This event is all part of a much wider lesson about which assets really are safe havens. Also how to reduce the level of counterparty risk your investment portfolio is exposed to.
This time last year, cryptocurrency enthusiasts were still touting “Crypto as the new gold”– crypto touted as having the same ‘safe’ attributes as gold.
The main attribute is that it is a currency that government doesn’t control. Also, it is without counterparty risk. The latest debacle has

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Is Central Banks’ License to Print Money About to Expire?

October 29, 2022

One of the biggest reasons for people deciding to buy gold bars or to own silver coins is because of the folly of central banks and government. It seems bizarre to most people that we are all aware that money doesn’t grow on trees and yet those responsible for financial stability have forgotten this basic life-lesson. But, what has felt even more bizarre (and maddening) is for how long this foolishness has been allowed to continue. Well, it seems this won’t be the case for much longer. Below, we outline how central banks and governments are coming to the end of their experiment, not necessarily by choice and certainly not without consequence. 

Central banks have been printing money non-stop for the last 15 years – since the 2008-09 Great Financial Crisis. The

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[Video] Gold in 2023 Will Be Driven by Real Rates – Mike Singleton

October 27, 2022

Gold in 2023 Will Be Driven by Real Rates
A Fed pivot is to be expected in 2023, according to today’s guest Mike Singleton. Mike is Senior Analyst at Invictus Research and joins us for the first time, here on GoldCore TV.
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In his chat with our host Dave Russell, Mike gives us his thoughts on inflation, the US Dollar and what the future holds for gold and silver prices. You’ll hear why Mike thinks that real rates are the key for us to look out for to understand when the Fed pivot will occur. And you’ll also hear Mike’s explanation of what indicator gold and silver watchers should be on the lookout for.
This is a nice short interview, but we pack a lot in and by the end of it you’ll be looking for another excuse to extend your coffee break. So, if

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Ben Bernanke Wins Nobel Prize for Kicking Can Down the Road!

October 16, 2022

So Ben Bernanke has won a Nobel Prize for kicking a can down the road!
Many will have heard the saying ‘those who do not learn from history, are doomed to repeat it’. It is often attributed to Churchill, but he was in fact quoting George Santanya. We prefer the Stephen Hawking quote, ‘“We spend a great deal of time studying history, which, let’s face it, is mostly the history of stupidity.” as this feels more apt in this day and age.
Below we outline the Nobel-prize winning work of former Fed Chair Ben Bernanke. Seemingly to the Nobel committee his studies enabled him and subsequent central bankers to stave off economic catastrophe. We would argue that as Chair of the Federal Reserve Bernanke merely delayed the inevitable, he just kicked the can down the road for

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Rick Rule – Gold Helps Me Sleep at Night

October 14, 2022

“The US dollar’s strength isn’t so much a function of the strength of the US economy or US political leadership, but rather, the fact that we’re competing in a horse race against a bunch of other horses that are completely lame.”
Rick Rule – Rule Investment Media
The former President and CEO of Sprott, was last on the show at the beginning of February, so it’s an understatement to say he and GoldCore TV host Dave Russell had a few things to catch up on!
From US dollar strength (it’s all relative) to the price of gold through to how Rick is advising investors right now, Dave asks the former President and CEO of Sprott all the questions to help you better navigate these trying times.
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If you enjoy this interview then perhaps you’d like to watch The

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Were the UK pension funds just the canary in the gold mine?

October 9, 2022

This week we ask if the wobble experienced by UK pension funds, last week, was just the canary in the gold mine for the global economy. If not for other central banks then this was certainly a reminder for individuals, who were prompted to ask about the levels of counterparty risk their savings and pensions were exposed to, and how they might better protect themselves in the coming months and years.
UK pension funds’ lack of liquidity is only the first fault line in a crumbling financial framework. UK pension funds came under major distress after the plummeting price of gilts triggered margin calls totaling more than £100 million (US$107 million) last week. Also, the Bank of England was there to save the day. See our post- Ross Geller inspires Bank of England

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Ed Steer Gold And Silver – We Ain’t Seen Nothing Yet!

October 5, 2022

Our guest this week is Ed Steer, expert gold and market analyst and author of the Gold & Silver Digest.
We invited Ed onto GoldCore TV to get his take on what is concerning him most in financial markets, movements in SLV and sanctions against Russia. He also draws our attention to central bank purchases of gold.
Ed’s interview serves as a reminder that those who currently do own gold and silver are just the tip of the iceberg when it comes to the number of people who are going to be looking to insure their savings when the proverbial really does hit the fan.
If you enjoyed Dave’s chat with Ed Steer then be sure to subscribe to GoldCore TV and watch our flagship show, The M3 Report. Featuring bonus material from guests such as Jim Rickards and Jim Rogers, as well

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Ross Geller inspires Bank of England policy

September 29, 2022

This morning the UK pound slumped as one of the world’s oldest central banks pressed hard on the panic button. The Bank of England was seen to be shouting ‘Pivot! Pivot! Pivaat!’ as they announced they would temporarily suspend their programme to sell gilts and will instead buy long-dated bonds.
In a statement, the bank said that they would be embarking on a “temporary and targeted” bond buying operation.
Although we expect it to be about as temporary and as targeted as a toddler with a paint gun. Unsurprisingly the markets did not see this as a vote of confidence in the British economy and almost anything associated with the former Empire has taken a beating.
What caused the Bank of England to act so hard and so fast?
Unsurprisingly, markets were unimpressed.

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Episode 5 of The M3 Report with Steve St. Angelo

September 28, 2022

Is the energy crisis something that can be resolved? Was it always inevitable? Will renewable energy make it all OK? Are Western financial policies to blame?
All this and more in today’s The M3 Report! If you’re not already subscribed to GoldCoreTV then click here right now to make sure you’re all set to watch the fifth episode of our flagship show.
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Featuring Mr. Energy himself Steve St. Angelo as well as a short explanation from Brent Johnson on the Dollar Milkshake Theory.
Plus our do-not-miss feature Chart Watch! This week we look at major shortages in the SLV and ask what’s driving the silver price right now.
Our theme this week is gas (in case you hadn’t guessed). Our team looks at gas, what is affecting the price right now and wonder how

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US CPI Data Release Update

September 17, 2022

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?

September 14, 2022

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

September 10, 2022

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.

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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.

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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

September 4, 2022

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.

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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

August 28, 2022

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

August 27, 2022

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%.

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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
The

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