Basic Reports

Silver Fever, or Silver Fading?

Supply and Demand Report

We finally had a resolution, of sorts, in silver. Since April 13, we have had a falling price of silver (indicated as a rising price of the dollar, as measured in silver). And along with this price trend, a growing scarcity of the metal to the market (i.e. the cobasis, the red line). Indeed, the […]

Silver Update: Scarcity Gets More Extreme

Supply and Demand Report

Listen to the audio version of this article here. Since our last silver article, the price of silver has dropped. With due respect to Frederic Bastiat, the price is the seen. The basis mostly goes unseen. We will take a look at the market data, revised for a few more days of trading. Warren Buffett, […]

The Silver Phoenix Market

Supply and Demand Report

Listen to the audio version of this article here. The price of silver hit a peak over $26.50 on March 8. It spent about a month and a half breaking down, and then the bottom fell out. It’s currently down from that peak almost 8 bucks. Breaking Down Fundamental Silver Prices However, the opposite has […]

Crude Goes Negative!

In mainstream economic thought, there is one primary way that the economy can go screwy. Prices can rise too fast, and this is called bad inflation. This is to be contrasted with good inflation, when prices are rising at the Goldilocks-just-right rate. Diehard Keynesians (and monetarists) do fret about falling prices. But as Ben Bernanke’s […]

Silver Backwardation Returns, Gold and Silver Market Report 2 March

The big news this week was the drop in the prices of the metals (though we believe that it is the dollar which is going up), $57 and $1.81 respectively. Of course, when the price drops the injured goldbugs come out. We have written the authoritative debunking of the gold and silver price suppression conspiracy […]

You Can’t Eat Gold, Report 14 Oct 2018

“You can’t eat gold.” The enemies of gold often unleash this little zinger, as if it dismisses the idea of owning gold and indeed the whole gold standard. It is a fact, you cannot eat gold. However, it dismisses nothing. This gives us an idea. Let’s tie three facts together. One, you can’t eat gold. […]

The Toxic Stew, Report 7 Oct 2018

Last week, we shined a spotlight on a crack in the monetary system that few people outside of Switzerland (and not many inside either) were aware of. There is permanent gold backwardation measured in Swiss francs. Everyone knows that the Swiss franc has a negative interest rate, but so far as we know, Keith is […]

Standing Ready to Lease Gold, Report 18 Mar 2018

We will take another break from capital destruction, to treat a topic which has come up this week. On March 11, we said: “…central bankers do not think about gold. Granted, they once did. In the 1960’s, there was the now-infamous London Gold Pool to keep the price of gold at $35. This is endlessly […]

What’s the Point, Gold and Silver Report 3 Dec 2017

A reader emailed us, to ask a few pointed questions. Paraphrasing, they are: Who cares if dollars are calculated in gold or gold is calculated in dollars? People care only if their purchasing power has grown. What is the basis good for? Is it just mathematical play for gold theorists? How does knowing the basis […]

The Anatomy of Brown’s Gold Bottom, Report 11 June, 2017

As most in the gold community know, the UK Chancellor of the Exchequer Gordon Brown announced on 7 May, 1999 that HM Treasury planned to sell gold. The dollar began to rise, from about 110mg gold to 120mg on 6 July, the day of the first sale. This translates into dollarish as: gold went down, […]