Behind enemy lines – Military use of gold coins as emergency money

By Ronan Manly Gold is and always has been universal money that can be used anywhere and is accepted everywhere. This is especially true behind enemy lines. Recently, while researching for the article “The Power of gold in time of Crisis” (which covered examples of gold being the ultimate asset […]

Polish central bank airlifts 8000 gold bars (100 tonnes) from London to Warsaw

In early July, BullionStar covered the notable news from Poland’s central bank, that it had boosted its monetary gold reserves to 228.6 tonnes by buying 125.7 tonnes over the 2018-2019 period, with a staggering 100 tonnes of this total purchased at the Bank of England in London during the first […]

Life under a gold standard

Consumer prices react differently under a gold standard and a fiat standard due to the relative flexibility of each system. What would it be like living under a gold standard? Here are a few (but by no means all) of the features that would characterize it: Banknotes, up until now […]

New COMEX Pledged Gold – Shrinking the Pool of Registered Inventory

CME now allows COMEX gold warrants to be pledged as clearing collateral, a move that is sure to shrink an already tiny pool of registered gold inventory. Powered by WPeMatico

Chinese central bank gold buying – On a need to know basis

By Ronan Manly at https://www.bullionstar.com/blogs/ronan-manly/chinese-central-bank-gold-buying-on-a-need-to-know-basis/ After announcing monthly gold purchases for ten straight months between December 2018 and September 2019, the Chinese central bank, the People’s Bank of China (PBoC), has now paused buying for its strategic gold reserves. At least that’s according to October figures from the State Administration […]

The Power of Gold in Times of Crisis

By Ronan Manly (original posted at https://www.bullionstar.com/blogs/ronan-manly/the-power-of-gold-in-times-of-crisis/) While physical gold is a well-known safe haven asset which investors flock to in times of market turbulence as a way of protecting their wealth, gold is also the ultimate asset to own and possess in times of crisis and emergency. These crisis […]

Why are gold and bonds rising together?

By J. Kroning at https://www.bullionstar.com/blogs/jp-koning/why-are-gold-and-bonds-rising-together/ In a previous post I mentioned that when I first broke into the financial industry, the owner of the brokerage where I worked was a dyed-in-the-wool gold bug. Most of his portfolio was invested in gold (he even owned a gold mine) and he was […]

Wag the Dog – The new COMEX and SGE Gold Contracts

In a development whose impact is still unclear, the world’s largest gold derivatives trading venue, the US COMEX, and the world’s largest physical gold trading exchange, the Chinese SGE, have just jointly launched gold derivatives contracts, potentially binding each other into a price feedback loop. Could this be a case […]

LBMA needs reform to serve the physical precious metals market

The LBMA claims to be the global authority for precious metals, but it is an organization stacked full of bullion banks which trade gigantic volumes of synthetic paper promises, and an organization which does nothing to champion the interests of savers and investors in physical precious metals. Founded by a […]

Does anyone use the IMF’s SDR? – JP Koning – BullionStar

Last week I poked some fun at the International Monetary Fund’s special drawing rights. I claimed that no on uses them. I wouldn’t be the first to make this accusation. The International Monetary Fund (IMF) itself once described the role that special drawing rights (SDRs) play as “insignificant”. No one […]

LBMA Removes JP Morgan’s Michael Nowak from the LBMA Board – Ronan Manly

Just when you think it couldn’t get any more embarrassing for JP Morgan’s precious metals business and its embattled head, Michael Nowak, today it just did, as the powerful London Bullion Market Association (LBMA) moved to oust Nowak, who has become too toxic, from the LBMA’s board of directors. According […]

LBMA Board Member & JP Morgan Managing Director Charged with Rigging Precious Metals

Michael Nowak, JP Morgan Chase managing director and Board member of the London Bullion Market Association (LBMA) has just been charged by the US Department of Justice (DoJ) with manipulating the prices of precious metals-futures contracts over an 8 year period. Nowak sits on the LBMA Board along with LBMA […]

Rothschild emerges from the shadows for the Centenary of the London Gold Fixing

This month marks the centenary of the London Gold Fixing, with events at both Rothschild’s headquarters in the City of London and at the neighboring Bank of England. Billed as a momentous occasion by the bullion bank-controlled London Bullion Market Association (LBMA), the celebrations gloss over and conveniently forget to […]

Hyperbitcoinization

Hyperbitcoinization, a term coined by Daniel Krawisz in 2014, refers to a thesis under which bitcoin, at first slowly and then rapidly, would replace traditional currencies. In effect, bitcoin-induced currency demonetization. Although bitcoin certainly has plenty of good features, for mass adoption it would have to overcome the network effects […]

Gold, Silver and Platinum surge ahead with impressive double digit YTD returns

Gold, Silver and Platinum surge ahead with impressive double digit YTD returns Year-to-date (YTD), based on prices at the time of writing, precious metals prices in US dollar terms have been making impressive double digit returns. The gold price has now risen 20.73% YTD, the silver price is up 25.91%, […]

Chinese gold imports – Better data, lower inflows, unanswered questions

By Ronan Manly at https://www.bullionstar.com/blogs/ronan-manly/chinese-gold-imports-better-data-lower-inflows-unanswered-questions/ While gold imports into China fell noticeably between May and July 2019, the reasons for the lower gold inflows may be more complex than the official line. In mid-August Reuters published a story titled “China curbs gold imports as trade war heats up” claiming that […]

More on the puzzle of negative interest rates – copy

Interest rates on many bonds have plunged into negative territory. But why on earth would anyone be willing to save $1000 only to get $999 in the future? Saving up for a rainy day has always gone hand in hand with a positive interest rate, not a negative one. In […]

More on the puzzle of negative interest rates

Interest rates on many bonds have plunged into negative territory. But why on earth would anyone be willing to save $1000 only to get $999 in the future? Saving up for a rainy day has always gone hand in hand with a positive interest rate, not a negative one. In […]

Singapore Tops Global Rankings as the World’s Safest and Most Secure Nation

Global rankings continually attest to Singapore’s claim to be the safest and most secure country in the world and the best place to buy and store gold. Read the full article at https://www.bullionstar.com/blogs/bullionstar/singapore-tops-global-rankings-as-the-worlds-safest-and-most-secure-nation/ Powered by WPeMatico

The not-so-crazy world of negative interest rates – JP Koning

A few years ago when I was working at a bank, I asked the bond trader who worked next to me what he thought about the newish phenomenon of negative interest rates. “Rate are only negative cause they’re messing around in our markets!” he whispered indignantly. By “they” he meant […]