Basic Reports

The Truth about the Silver Squeeze

Silver Squeeze

Keith wrote about the silver squeeze narrative originally here, then here, and again here. This article is his latest commentary.  Some recent videos about the silver market are generating more buzz than we have seen in a while. They make several points, but the main one is that there is a global shortage of silver. […]

Is Inflation or Deflation Coming? Part 2

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In Part One of this two-part series, we differentiated between nonmonetary forces pushing up prices as opposed to the monetary forces pushing them down. We closed with acknowledging that some will say, “Yes, but interest rates have been rising.” Indeed. Here’s a graph of the 10-year Treasury yield. Look at that big move up since […]

Is Inflation or Deflation Coming? 15 March

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By the M0 measure of the money supply, there was a 52% increase between February 2020 and January of this year. This is a graph of M0 going back to 2000.   There. Proof of the coming hyperinflation. It took centuries to get to $3.4 trillion monetary base, and less than a year to increase […]

The Fedcoin is Coming, 8 March

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Before we talk about Fedcoins, let’s look at the old school non-digital, non-blockchain, coin. Gold. And silver. Since January 4, the price has dropped about $244. And the price of silver has fallen about $4. Are these buying opportunities? Or the end of the brief gold bull market of 2020 (i.e. Covid)? It helps to […]

Monetary Metals Gold Brief 2021

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This is our annual analysis of the gold and silver markets. We look at the market players, dynamics, fallacies, drivers, and finally give our predictions for the prices of the metals over the coming year. Introduction Predicting the likely path of the prices of the metals in the near term is easy. Just look at […]

Reddit Residue on Silver, 3 February

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The price of silver is going up and down like a yo-yo. On Sunday and into the first part of Monday, the price skyrocketed on news that Reddit was touting the metal. But as the data clearly showed, the price was not driven up by retail buying of physical metal. To be sure, there was […]

Ruh Roh Silver, 2 February

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Sometimes you can count on the manipulation conspiracy theorists to get it exactly wrong. Not just a little bit wrong, nor halfway wrong. Not even mostly wrong. Totally wrong, backwards. Michael Crichton, in talking about the Gell-Mann Amnesia Effect said this:   “You open the newspaper to an article on some subject you know well. […]

What Will Reddit Do With Silver? 29 Jan

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The hot story this week is the incredible run up in the stock price of GameStop. A week ago, this was a $40 stock, with the company losing well over $4 a share. That’s not surprising for a retail store operator in the world of lockdowns. What is surprising is what happened this week. The […]

An Economist Rebukes The Economist

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There are but two ways that man can deal with man: reason and force. Reason includes invention, design, entrepreneurship, finance, borrowing and lending, construction, production, manufacturing, mining, farming, trade, marketing, distribution, sales, and contract. Force is when someone picks up a gun. The gun is used to override the reason of the victim with the […]

Wrong Measurement, Wrong Macro Call

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We have written much on the topic of economic measurement. Does the dollar measure gold, is it appropriate to say that “gold went up”? Or does gold measure the dollar? Does a line of gummy bears laid out on the kitchen table measure the ruler? Does one stretch some rubber bands one day, and say […]