Stagflation and the credit cycle

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The credit cycle that normally drives advanced economies through boom and bust is turning out to be different this time round

Gold storms through $1350

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Last Monday gold ended a week-long consolidation that saw it fall from $1354 to $1329, before rising strongly to over $1370 yesterday

Gold and silver on the turn?

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Encompassing the year end and its holiday on Wednesday, this week has been notable for precious metals.

Time-preference and gold

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The future price of gold cannot be discussed without considering its implied discount rate expressed through time-preference.

Breaking $1200

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This was the week the Federal Open Market Committee decided to start tapering.

FMQ update

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By November, the most recent month for which statistics are available, the US Fiat Money Quantity (FMQ) had grown to $12.351 trillion.

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