Financial war takes a nasty turn

Goldmoney Staff .  May 05, 2022 The chasm between Eurasia and the Western defence groupings (NATO, Five-eyes, AUKUS etc.) is widening rapidly. While media commentary focuses on the visible side of the conflict in Ukraine, the economic and financial aspects are what really matter. There is an increasing inevitability about […]

Value destruction

Goldmoney Staff . Alasdair Macleod In recent articles I have argued that the era of a financialised fiat dollar standard is ending. This article takes my hypothesis further and explains that it is not just the emergence of new commodity backed currencies in Asia that will threaten the dominance of […]

The failure of fiat currencies and the implications for gold and silver

Goldmoney Insights . April 14, 2022 This is the background text of my Keynote Speech given yesterday to European Gold Forum yesterday, 13 April. To explain why fiat currencies are failing I started by defining money. I then described the relationship between fiat money and its purchasing power, the role […]

The commodity currency revolution

Goldmoney Insights . April 7, 2022 We will look back at current events and realise that they marked the change from a dollar-based global economy underwritten by financial assets to commodity-backed currencies. We face a change from collateral being purely financial in nature to becoming commodity based. It is collateral […]

The evolution of credit

Goldmoney Insights  .  March 17, 2022 After fifty-one years from the end of the Bretton Woods Agreement, the system of fiat currencies appears to be moving towards a crisis point for the US dollar as the international currency. The battle over global energy, commodity, and grain supplies is the continuation […]

When normality is exposed as a Ponzi

Goldmoney Insights . March 3, 2022 Putin’s hubris, yes-men for generals, lack of fighting conviction among the men, poor logistics and strong Ukrainian leadership and determination have combined to turn the Russian invasion of Ukraine into a military quagmire. Meanwhile, the West has upped the stakes in a financial war. […]

How Ukraine fits into the global jigsaw

Goldmoney Insights . February 24, 2022 Ukraine is part of a far bigger geopolitical picture. Russia and China want US hegemonic influence in the Eurasian continent marginalised. Following defeats for US foreign policy in Syria and Afghanistan and following Brexit, Putin is driving a wedge between America and the non-Anglo-Saxon […]

Central banks are now insolvent

Goldmoney Insights . February 17, 2022 Behind the battle to convince everyone that price inflation is not a lasting problem is the necessity to keep interest rates and bond yields suppressed. In the past, the interest rate cycle was entirely due to the expansion and contraction of commercial bank credit. […]

Why dollar CBDCs may never happen

Goldmoney Insights – January 27, 2022 The Fed has just released its first public consultation paper on a dollar-based central bank digital currency. For many, central bank digital currencies (CBDCs) are a means of heading off private sector cryptos, but coincidentally the prices of bitcoin and others have collapsed, losing […]

A euro catastrophe could collapse it

Goldmoney Insights  .  January 13, 2022 This article looks at the situation in the euro system in the context of rising interest rates. Central to the problem is role of the ECB, which through monetary inflation embarked on a policy of transferring wealth from fiscally responsible member states to the […]

Gold and silver prospects for 2022

Goldmoney Insights . December 23, 2021 It has been a disappointing year for profit-seeking precious metal investors, but for those few of us looking to accumulate gold and silver as the ultimate insurance against runaway inflation it has been an unexpected bonus. After reviewing the current year to gain a […]

The credit cycle and zombies’ downfall

Goldmoney Insights  .   December 16, 2021 Leading central banks like to think that through careful interest rate management, they have tamed the economic cycles which lead to regular economic downturns. Instead, they have only managed to bury the evidence. To appreciate the extent of their delusion one must understand the […]

Returning to sound mone

Goldmoney Staff  .  November 18, 2021 With the threat of dollar hyperinflation now becoming a reality it is time to consider what will be required to stabilise the currency, and by extension the other fiat currencies which regard the dollar as their reserve. This article takes its cue from Ludwig […]

The futility of central bank policy

Goldmoney Insights  . November 11, 2021 It is only now becoming clear to the investing public that the purchasing power of their currencies is declining at an accelerating rate. There is no doubt that yesterday’s announcement that the US CPI rose by 6.2%, compared with the longstanding 2% target, came […]

Money, funny-money and crypto

Goldmoney Insights . November 4, 2021 That the post-industrial era of fiat currencies is coming to an end is becoming a real possibility. Major economies are now stalling while price inflation is just beginning to take off, following the excessive currency debasement in all major jurisdictions since the Lehman crisis […]

The funding challenges ahead

Goldmoney Insights – October 7, 2021 This article looks at the Fed’s funding challenges in the US’s new fiscal year, which commenced on 1 October. There are three categories of buyer for US Federal debt: the financial and non-financial private sector, foreigners, and the Fed. The banks in the financial […]

Inflation is a monetary curse

Goldmoney Insights Remarkably, in a speech on monetary policy given at the Jackson Hole conference last Friday, Jay Powell never mentioned money, money supply, M1 or M2. With money supply expanding at a record pace to fund both QE and intractable budget deficits the omission is extraordinary. The FOMC (the […]

Eurozone finances have deteriorated

Goldmoney Staff – August 26, 2021 Despite negative interest rates and money printing by the European Central Bank, which conveniently allowed all Eurozone member governments to fund themselves, having gone nowhere Eurozone nominal GDP is even lower than it was before the Lehman crisis. Then there is the question of […]

The extinction of gold derivatives

Goldmoney Insights This month is the fiftieth anniversary of the Nixon shock, when the Bretton Woods agreement was suspended. And the expansion of commercial banking into credit for purely financial activities became central to the promotion of the dollar as the international replacement for gold. With the introduction of Basel […]

Western socialism and Eastern capitalism

Goldmoney Insights – July 30, 2021 There has been a significant shift in geopolitics in recent months, with the US consciously deciding to withdraw from Asian conflicts, notably in Afghanistan. But the diplomatic war against Iran also appears to have been downgraded and the US presence in Iraq is to […]