Central banks

Because so many investors have been the direct beneficiaries of debt driven asset bubbles of unprecedented size (and hence risk), they have ignored otherwise clear warning signs. The current zero-to-negative returns in global sovereign bonds, for example, are just the latest symptoms of how ludicrou...

One can’t simply snap one’s fingers and, just like that, restore equilibrium to a system that is based on the outsourcing of production centers, by bringing inflation back down while preserving demand! Will a rate rise now be sufficient to correct the current problem in the global production chain?

In the current framework gold is priced based on the 10-year TIPS yield. In my view, the current framework becomes more nonsensical the longer the TIPS yield stays below zero. At the time of writing the TIPS yield is –0.74%.

Controlling the Fed has given the bankers an unlimited supply of money and credit to finance their activities. As is the general rule today, debt is never repaid since new debt always makes the old debt insignificant as the currency is constantly debased with all the new money issued. The upside pot...

The reserves for the next rise in gold are certainly present in Germany and in other countries with high savings rates. At the same time, faced with this inflationary shock, we are witnessing the confidence that these savers have in the ECB being eroded a little more with each passing day. In those...

As Egon (and history) confirm, gold is an absolutely critical aspect of wealth preservation. Gold is prioritized not because of “gold-bug” thinking, but simply as a result of financial sophistication and a healthy respect for both the history of debt markets and the math of currencies.

The Irish central bank added 78 million euros ($88 million) to its gold reserves in November, data published this week showed. The purchases mean the institution has increased its holdings of the precious metal by more than three tons in three months, a 60% increase from the level maintained for ove...

The leaders of the European Central Bank (ECB) and the U.S. Federal Reserve (Fed) have long promised us that their lax monetary policy would not lead to inflation, and that we should not worry, that it would be "transitory". They now concede that the transitional period could be prolonged, but conti...

2022 is beginning in a very different environment than that of last year. This is the time of year when it is necessary to consult the major institutions’ forecasts regarding the evolution of the gold price in 2022.

Central banks have built up their gold reserves by more than 4,500 tons over the past decade, according to the World Gold Council, the international research organization of the gold industry. As of September, the reserves totaled roughly 36,000 tons, the largest since 1990 and up 15% from a decade...