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2024 Gold Outlook Report |
PhD, CEO & Founder
Keith Weiner is a leading authority in the areas of gold, money, and credit and has made important contributions to the development of trading techniques founded upon the analysis of bid-ask spreads. He is the founder of DiamondWare, a software company sold to Nortel in 2008, and he currently serves as President of the Gold Standard Institute USA. He earned his PhD from the New Austrian School of Economics.*
During the recent exponential rise in the price of Bitcoin, there were jokes all over the Internet about the fall of the dollar—more than 80% in Bitcoin terms. Why not measure the value of the dollar in terms of tulips? One must measure the more variable unit with the more constant. Dollars are used to […]
I recently released a video about the Internet-based currency, Bitcoin. I asked the question: is Bitcoin money? In brief, I said no it’s an irredeemable currency. This generated some controversy in the Bitcoin community. I took it for granted that everyone would agree that money had to be a tangible good, but it turns out […]
Some people believe that by imposing losses on investors and reducing the Cyprus banking system liabilities, the European powers have addressed the problems in Cyprus (if harshly). Others think that it was just an unjust tax on depositors. I have written about the sequence of events. Cyprus banks borrowed money and bought Greek government bonds. […]
Do you think that depositors in Cyprus are being taxed? That their money is being taken from them to go to the government in Cyprus or to Europe? Most analysis of the Cyprus bailout is wrong on this point. Cypriot banks are like all banks in one respect. They raise capital to buy assets that […]
I have written a number of pieces on fractional reserve banking and duration mismatch. I have argued that the former is perfectly fine, both morally and economically, but the latter is not fine. I have dissected the arguments made against fractional reserve banking, and pointed out that it is nothing more than a bank lending […]
The Last Contango Basis Report All the major currencies fell this week, with the dollar down about 0.2mg, (graphs of the currencies priced in gold are here). Cyprus continued to dominate the financial news this week, with one plan after another proposed and rejected. Meanwhile depositors can’t withdraw euros from their bank accounts in the […]
A flash crash occurs when the bid is either very thin or disappears altogether. Under any selling pressure, the cleared price can fall to any level at least temporarily. By definition and by nature, money is not subject to flash crashes.
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