It wasn’t meant to be like this: six years of global money-printing should have guaranteed economic recovery.
Many decades of Keynesian-inspired economic and monetary corruption have left advanced economies with a legacy of debt and low savings.
Gold and silver prices gained modestly over the week, during which the latest FOMC minutes were released
I am often asked whether or not western governments are likely to confiscate gold, and my answer has invariably been on the lines of “unlikely at the moment, because so few people own gold”.
The gold price continued the previous week’s fall into Monday, which was the end of the first quarter of 2014
I have been revisiting estimates of the quantities of gold being absorbed by China, and yet again I have had to revise them upwards.
The correction in the gold price continued this week, falling another $40 to a low of $1290 yesterday.
The story that commodities are at the centre of China’s shadow banking system has gained prominence in recent weeks.
This week gold fell from a high of $1390, achieved late on Sunday night European time, to a low of $1322 last night before rallying $15 on London’s opening this morning.
There is a fascinating story from Robert Peston, the BBC’s business editor about his interview with Hank Paulson, who was the US treasury secretary at the time of the Lehman crisis.