There are two reasons why people buy gold and silver. The first is that they’re the monetary metals. Many people don’t want more than a certain exposure to the risks of the banking system. They hold dollars for liquidity and beyond that trade them for metallic money. This money is not for trading. The second […]
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I originally wrote this in September 2013. It is just as relevant now in December. The big news in America is that the rate on the 10-year Treasury bond has risen dramatically from around 1.6% to over 2.9%. This is 130 basis points from a starting point of 160, or an increase of more than […]
It is well known that in 1933, President Roosevelt confiscated the gold of U.S. citizens and made possession of gold illegal. He gave gold owners about $20 an ounce and when he was done, he raised the gold price to $35. The common telling of this story portrays it as a simple case of robbery. […]
Since February of this year, there has been at least one silver contract in backwardation. Since May 31, the September contract has been backwardated. But that has now come to an end. Before we get to the graphs, let’s define our terms. Some people look at a graph of (cleared trade) prices. If they find […]
The December gold future went into backwardation today, July 31. Below, we show the dates when previous gold contracts went into backwardation. As you can see, it is creeping farther and farther out. This is a picture of gold availability to the market drying up. – Apr first backwardated Feb 15, 30 trading days before […]
The October gold future went into backwardation today, July 8. Below, we show the dates when previous gold contracts went into backwardation. As you can see, it is creeping farther and farther out. This is a picture of gold availability to the market drying up. – Apr first backwardated Feb 15, 30 trading days before […]
Guest Post: By Monty Pelerin In a previous article entitled “Government: ‘A Seedy Circus … Perpetually In Debt’,” government was likened to Larsen E. Whipsnade, the character played by the one-of-a-kind W. C. Fields in the 1939 movie “You Can’t Cheat An Honest Man.” Characterizing Leviathan government as an individual, even one as large as Whipsnade, was a […]
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