Tag Archives: Money

Having discontinued its production of EUR500 banknotes, it appears Europe is charging towards the utopian dream of a cashless society. Just days after Davos’ elites discussed why the world needs to “get rid of currency,” the European Commission has introduced a proposal enforcing “restrictions on payments in cash.” With Rogoff, Stiglitz, Summers et al. all calling for the end of cash – because only terrorists and...

For the third time in four weeks, the market was closed on Monday due to a holiday. Not only is this week shortened by a holiday,  it is also coinciding with the annual Billionaire’s convention in Davos, Switzerland and the Presidential inauguration on Friday. Increased volatility over the next couple of days will certainly not be surprising. In this past weekend’s missive, I discussed a variety of “extremes” being...

Bloomberg’s Anne Swardson, Zoe Schneeweiss, and Andre Tartar perfectly summed up the state of play right now during their discussion of the World Economic Forum’s annual get-together: “Never before has the gap between Davos Man and the real world yawned so widely.” As the world’s top executives, financiers, academics, and politicians make their way to Switzerland, Trump – who won’t have an official representative there...

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...

Prince, RIP, owned gold bars worth just over $800,000 according to the statement filed in a Minnesota court last Friday. At the time of his death, Prince had taken delivery of and had in his possession 67 gold bars, 10 ounce gold bars, valued at $836,166.70. That’s according to an asset inventory compiled by Bremer Trust released by the Carver County District Court, as first reported by the Minneapolis Star Tribune....

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%...

On Moneyness, JP Koning argues that India’s demonetization experiment could have suffered from fewer frictions if bank notes had been overstamped rather than immediately withdrawn.

– 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...