The Fed’s mode of operation has drastically changed over the past 12 years.

In our 18th September Update we said that the Fed’s decision not to “taper” was not, in and of itself, meaningfully bullish for gold.

The following is excerpted from a commentary originally posted at www.speculative-investor.com on 8th September 2013.

We occasionally see articles where the monetary base is wrongly discussed as if it were akin to the money supply or as if the change in the monetary base indicated the amount of monetary inflation in the economy.

Whether the stock market is in a long-term bullish trend or a long-term bearish trend can’t be determined by looking at nominal prices.

The following is excerpted from a commentary originally posted at www.speculative-investor.com on 28th July 2013.

We are leading off with a discussion of gold mining stocks because the recent price action has created a situation that can now aptly be described as unprecedented. A consequence is that there has NEVER been a better time to buy gold mining stocks.

It’s not correct to think of today’s currencies as being ‘backed’ by the international reserve assets held by the central bank or government.

It seems that every year a new word or term or acronym becomes a prominent part of the financial world’s lexicon.

One of the simplest and best ways to ascertain gold’s long-term trend is to look at its performance relative to commodities in general.