17
Aug
2016

45th Anniversary Of Nixon Ending The Gold Standard

This week 45 years ago, August 15th 1971 to be exact, President Nixon suddenly declared the end of the Gold Standard. He ushered in the modern monetary system based on fiat paper and digital currency that works so poorly for us today and led to the global financial crisis. The dramatic announcement by ‘Tricky Dicky’ […]

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16
Aug
2016

Gold In UK Pounds Collapses 38% Versus Gold and 56% Versus Silver Year To Date

Gold in UK pounds neared its post-Brexit high overnight as sterling fell sharply on currency markets due to concerns about rising inflation as shown in data today and the outlook for the UK economy. Gold is up nearly 4% in sterling terms in August and by a whopping 38% year to date.  ‘Sterling silver’ has […]

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15
Aug
2016

Will Ireland Be First Country In World To See Bail-in Regime?

Deposit bail-in risks are slowly being realised in Ireland, after it emerged overnight that FBD, one of Ireland’s largest insurance companies, have been moving cash out of Irish bank deposits and into bonds. Revelations regarding deposit bail-in risks came in the wake of warnings of a new property crash centred on the housing market in Ireland. The former […]

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12
Aug
2016

Money “Madness” Negative Interest Rates Sees Gold Buying Surge

Gold buying surged to record levels in H1, 2016 due to increasing concerns about the political, economic and monetary outlook. In particular, deepening concerns about the negative interest rate money “madness” of central banks today. Heike Hofmann sells fruit and vegetables in Germany. She reacted to negative rates by cutting spending & buying gold bars. Photo: Georgi […]

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11
Aug
2016

Gold Investment Demand Reaches Record In First Half 2016 On “Perfect Storm”

Gold investment demand surged to a record in the first half of 2016 and overtook the previous high seen during the 2009 financial crisis on a “perfect storm” for gold according to the ‘Gold Demand Trends Q2 2016’ report which was released by the World Gold Council today. Western investors especially in Europe saw the greatest […]

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10
Aug
2016

Peak Gold – Did Gold Production Peak in 2015?

‘Peak Gold’ is happening which has important ramifications for the gold market and is another long term positive fundamental. This is why we were one of the first analysts to consider the peak gold phenomenon back in 2007 and 2008 (see here) and have considered peak gold frequently over the years. One of the more astute gold analysts […]

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09
Aug
2016

Financial Times: “Victory For Gold Bulls Is Only Just Beginning”

The Financial Times published an interesting article today in which Diego Parrilla, author, investment expert and precious metals specialist, outlines the positive case for gold and why the gains seen this year are just the beginning of a new gold bull market: Parrilla begins: “Gold prices have rallied more than 30 per cent since the lift-off in […]

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08
Aug
2016

Irish Banks Most Vulnerable In Stress Tests – Banking Contagion In EU Cometh

– Irish banks vulnerable in stress tests: AIB/ BofI amongst worst 5 banks in EU – Ulster Bank’s parent Royal Bank of Scotland emerged as 2nd worst bank – AIB, Banca MPS especially vulnerable & ‘failed’ in adverse scenario (see table) – Impairment of financial assets was the largest negative contributor to results – Bad loans […]

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05
Aug
2016

Gold In Sterling 2.2% Higher After Bank Of England Cuts To 0.25% and Expands QE

Gold in sterling was 2.2% higher yesterday and was marginally higher in dollar terms after the Bank of England cut interest rates to all time, 322 year record low at 0.25% and surprised markets by renewing and aggressively expanding quantitative easing or QE. Sterling fell sharply on markets and gold rose from £1,014/oz to over £1,036/oz […]

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04
Aug
2016

Buy Gold and “Real Assets” Says the ‘Bond King’

Buy gold and “real assets” and not bonds is the financial advice of the “Bond King”, Bill Gross in his latest must read newsletter which covers everything from his favoured assets to sex. ‘Bond King’ Bill Gross (Bloomberg) Gross, the founder of and ex boss of the largest bond fund in the world PIMCO, now […]

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