Tag Archives: Bank of England

By Smaul gld The CIA recently released a series of declassified 1970s memos relating to the gold market and the newly created SDR. These memos give new insight how the CIA viewed the gold market, the perceived manipulation of gold and the potential for the SDR to become a gold substitute in the international monetary system. The classification of the documents is significant because “secret” is the CIA’s second-highest...

By Smaul gld The CIA recently released a series of declassified 1970s memos relating to the gold market and the newly created SDR. These memos give new insight how the CIA viewed the gold market, the perceived manipulation of gold and the potential for the SDR to become a gold substitute in the international monetary system. The classification of the documents is significant because "secret" is the CIA’s second-highest classification. The CIA notes unauthorized disclosure of secret...

Gold Price In GBP Rises 4% On Brexit and UK Economy Risks – Pound fell 2% against gold yesterday after Theresa May created Brexit concerns  – May’s ‘Hard Brexit’ denial does not calm markets growing fears – Investors concerned about lack of government strategy and uncertainty – UK Prime Minister bizarrely blames media and “those who print things” for sterling depreciation – GBP gold builds on 31% gain in 2016 with 4%...

– Gold gains in USD, GBP, EUR, CAD, AUD, NZD, JPY – Gold gains in CNY, INR & most emerging market currencies– Gold surges 31.5% in British pounds after Brexit shock– Gold acted as hedge and safe haven in 2016 … for those who need safe haven– Furthers signs of market having bottomed and bodes well for 2017 – What drivers will gold respond to in 2017? –  EU elections and contagion risk, Geo-politics, terrorism, war...

– Gold gains in USD, GBP, EUR, CAD, AUD, NZD, JPY – Gold gains in CNY, INR & most emerging market currencies– Gold surges 31.5% in British pounds after Brexit shock– Gold acted as hedge and safe haven in 2016 … for those who need safe haven– Furthers signs of market having bottomed and bodes well for 2017 – What drivers will gold respond to in 2017? –  EU elections and contagion risk, Geo-politics, terrorism, war...

As tumultuous as last year was from a global political perspective on the back of a rocky start market-wise, 2017 will be much more so. The central bank subsidization of the financial system (especially in the US and Europe) that began with the Fed invoking zero interest rate policy in 2008, gave way to international distrust of the enabling status quo that unfolded in different ways across the planet. My prognosis is...

“The idea that the future is unpredictable is undermined every day by the ease with which the past is explained.” – Daniel Kahneman, Thinking, Fast and Slow A couple weeks ago I was lucky enough to see a live one hour interview with Michael Lewis at the Annenberg Center about his new book The Undoing Project. Everyone attending the lecture received a complimentary copy of the book. Being a huge fan of Lewis after...

In the Journal of Economic Literature, William Roberds reviews Christine Desan’s “Making Money: Coin, Currency, and the Coming of Capitalism” and he provides his own perspective on European monetary history. … the transition of the Bank of England’s notes from the status of experimental debt securities (in 1694) to “as good as gold” (1833) required more than a century of legal accommodation and business comfort with their use. Desan emphasizes England’s traditions of nominalism (as...

Summary: The UK reports inflation, employment and retail sales this week. The BOE meets but will keep rates steady. The US 2-year premium over the UK is the highest since at least 1992 today. United Kingdom While the Federal Reserve meeting is the highlight this week, the UK has a number economic reports and the Bank of England’s Monetary Policy Committee meets.   The UK reports inflation tomorrow, followed...

Summary: The UK reports inflation, employment and retail sales this week. The BOE meets but will keep rates steady. The US 2-year premium over the UK is the highest since at least 1992 today. United Kingdom While the Federal Reserve meeting is the highlight this week, the UK has a number economic reports and the Bank of England’s Monetary Policy Committee meets.   The UK reports inflation tomorrow, followed...