Gold Money

Gold kicked off the week at just over $1300 before declining to a low of $1278 yesterday.

Gold is now extremely oversold, with emotional opinion in paper markets unanimously bearish.

In the two months since my last update on USD Fiat Money Quantity, it has increased by $292bn to $12.861 trillion and is still growing rapidly as shown in the chart below.

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.