Tag Archives: Finance

There have been moments in recent months when many gold owners, myself included, have asked themselves whether gold might have lost its safe haven status, at least in the western world. Was it enough for two generations, who grew up in a paper money system, to forget the history and the 5000-year-old status of gold as real money?  And yet, just as these doubts began to arise, reality struck back and decisively dispersed them. A few hours prior to writing this, a surprising number...

“You never want a serious crisis to go to waste. And what I mean by that, it’s an opportunity to do things you think you could not do before.” -Rahm Emanuel, Barack Obama’s Chief of Staff from 2009 to 2010. Only a couple of weeks ago, if anyone told you that your entire country would be basically shutting down, that events and public gatherings would be outlawed, that you’d be looking at empty shelves in your local supermarket and that the global stock market would...

“Trust the state. Do what they say. They’ve never lied to us before, have they?” – Daniel McAdams, Ron Paul Institute for Peace and Prosperity Central bankers are washing their hands too Looking at the carnage that stock markets have suffered, it’s not surprising to see central banks jumping in to save the day. It’s even less surprising to see them all deploy the very same remedies that have long stopped working, only in astronomically higher doses. Of course, rate cutting and...

“You never want a serious crisis to go to waste. And what I mean by that, it’s an opportunity to do things you think you could not do before.” -Rahm Emanuel, Barack Obama’s Chief of Staff from 2009 to 2010. Only a couple of weeks ago, if anyone told you that your entire country would be basically shutting down, that events and public gatherings would be outlawed, that you’d be looking at empty shelves in your local supermarket and that the global stock market would be on the brink...

The coronavirus epidemic has instilled real terror in the hearts of many investors, triggering a rude awaking to the actual state of the economy and panic unseen since 2008. This fear, that has spread among investors as it has among the general public, has been largely fueled by the coverage of the threat. Mainstream media, having themselves been threatened with extinction over the last decade, due to rising public mistrust, irrelevance in the age of the Internet and social media,...

Gold has been making headlines in recent days, as its price skyrocketed close to $1,700, a rise that most analysts have attributed to the spread of the coronavirus. The fears over its economic impact have sent global stock markets tumbling and, as is usually and reliably the case, panicked investors rushed to the safe haven of gold, en masse, cause a surge in demand. While the spike is indeed noteworthy and while it does, once again, confirm the fact that gold remains a dependable...

There is nothing new under the sun Modern Monetary Theory, or “MMT”, has been getting a lot of attention lately, often celebrated as a revolutionary breakthrough. However, there is absolutely nothing new about it. The very basis of the theory, the idea that governments can finance their expenditures themselves and therefore deficits don’t matter, actually goes back to the Polish Marxist economist, Michael Kalecki (1899 – 1970). MMT as a centralisation tool  MMT says...

There is nothing new under the sun Modern Monetary Theory, or “MMT”, has been getting a lot of attention lately, often celebrated as a revolutionary breakthrough. However, there is absolutely nothing new about it. The very basis of the theory, the idea that governments can finance their expenditures themselves and therefore deficits don’t matter, actually goes back to the Polish Marxist economist, Michael Kalecki (1899 – 1970).  MMT as a centralisation tool  MMT says that...

Fear vs Facts The coronavirus epidemic seemingly came out of nowhere in the beginning of the year and within a matter of days managed to wreak havoc with stock markets. As the days and weeks passed, and as the confirmed cases and the death toll rose, the media stoked fear and panic over worst-case scenarios. All kinds of “experts” and commentators put forward near-apocalyptic warnings and theories over a potential global pandemic that would trigger an economic recession. But how...

Interview with Ronald Stöferle – Part II Claudio Grass (CG): Looking at the interest rate policy of the last years, it would seem that central banks are backed into a corner. They cannot hike borrowing costs without risking a domino effect, as both government and corporate debt have reached record highs, encouraged by the central banks’ own NIRP and ZIRP policies. In your view, is there a “safe” way out of this vicious circle? Ronald-Peter Stöferle (RPS): Well, for...