About Keith Weiner
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.*
Entries by Keith Weiner
The Practical Side of Deflation and Deleveraging
/0 Comments/in Blog/by Keith WeinerCompanies with cash beat those without it. The need for cash rises with economic uncertainty. Sure, cash has a low yield, but so what–there aren’t many better opportunities anyways. Our competitors get it and the central bank gets it. If you don’t get it, try to raise the cash to buy the company? Oh, you […]
Why does the “Paper Gold” Price Track the Physical Gold Price? Postscript
/8 Comments/in Research/by Keith WeinerThis article is a follow-up to Part II. I expound upon a point I touched on, and also address some questions raised by readers. First, let’s look at an update of the open interest numbers as of Feb 6. Gold’s open interest actually declined further. Next, here is an update of the bases. The gold […]
Wow! Just wow!
/0 Comments/in Blog/by Keith WeinerThis is pretty technical, but in essence X owns junk bonds, so he swaps them for Treasury bonds with a promise to un-swap later. Then X has good collateral to post to buy another asset. Y owns Treasury bonds, so he swaps them for junk bonds. Then he has yield (the 10-year Treasury pays less […]
China Fantasy or China Reality
/2 Comments/in Blog/by Keith WeinerIt’s become popular to theorize that China is smarter than the US, that China’s economy is doing better, that China will rise to surpass the US, etc. This theory is false, in our opinion. China has massive government controls and intrusions into the market throughout the economy. This article (http://www.zerohedge.com/news/2013-01-23/what-really-goes-china) enumerates some of China’s problems: […]
Why does the “Paper Gold” Price Track the Physical Gold Price? Part II
/11 Comments/in Research/by Keith WeinerIn Part I of this article, we looked at arbitrage between the physical metal market and the futures market. We saw that there are arbitrageurs who straddle the spread between these markets, who don’t care about price but about the difference between two prices. They seek to profit, not from a change to the gold price, […]
Why does the “Paper Gold” Price Track the Physical Gold Price? Part I
/0 Comments/in Research/by Keith WeinerIt’s curious, isn’t it? So-called “paper gold” (a futures contract) has a price that is not only very close to physical gold, but it remains locked to it. This is despite the fact that “paper gold” is reviled in the gold community. I am writing this on Sunday evening with little liquidity in the market, […]
Dutch Deflation
/2 Comments/in Blog/by Keith WeinerA bank, not in the PIIGSC (Portugal, Ireland, Italy, Greece, Spain, Cyrpus) is insolvent. It’s in Netherlands. So the government is taking it over. Inflation is an expansion of counterfeit credit. Deflation, a forcible contraction of credit, is the inevitable consequence of inflation. – goal is to “shore up confidence” – Netherlands’ deficit was already […]
Big Debt in Little China
/7,201 Comments/in Blog/by Keith Weiner– Local governments to borrow for unneeded “infrastructure” – They acted under orders from Beijing – Unable to pay, they “rolled the debt over” – Li says it’s OK, it takes time to amortize(!) – Yiping says it’s fine when duration is mismatched – Peng says everyone does it – Most banks refuse to lend […]
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