Acting Man

A Well-Established Tradition Seemingly out of the blue, equities suffered a few bad hair days recently. As regular readers know, we have long argued that one should expect corrections in the form of...

Federal Reserve Credit Contracts Further We last wrote in July about the beginning contraction in outstanding Fed credit, repatriation inflows, reverse repos, and commercial and industrial lending...

The Most Comprehensive Collection of Charts Relevant to Gold is HereOur friends from Incrementum (a European asset management company) have just released the annual “In Gold We Trust”...

A Rebound Gets Underway – Will It Have Legs?Ever since the gold indexes have broken below the shelf of support that has held them aloft since late 2016 (around 165-170 points in the HUI), the...

Maurice Jackson of Proven & Probable has recently conducted a new interview with our friend and occasional contributor to this site, Jayant Bhandari, who is inter alia the host of the annual...

The Final Stage of a Crack-Up Boom For economists the dire downward spiral of Venezuela’s economy holds the same fascination black holes hold for physicists. Both illustrate what happens amid...

The GoldminbiIn recent weeks gold apparently decided it would be a good time to masquerade as an emerging market currency and it started mirroring the Chinese yuan of all things. Since the latter is...

The Big PictureThe diverging performance of major US stock market indexes which has been in place since the late January peak in Dow Jones Industrial Average and S&P 500 has become even more...

Capital Flight vs. The Effect of QEMish recently discussed the ever increasing imbalances of the euro zone’s TARGET-2 payment system again in response to a few articles which played down their...

A Spike in Bank Lending to Corporations – Sign of a Dying Boom?As we have mentioned on several occasions in these pages, when a boom nears its end, one often sees a sudden scramble for capital....

Technical Divergence Successfully MaintainedIn an update on gold and gold stocks in mid June, we pointed out that a number of interesting divergences had emerged which traditionally represent a...

A Beginning Shift in Gold FundamentalsA previously outright bearish fundamental backdrop for gold has recently become slightly more favorable. Ironically, the arrival of this somewhat more favorable...

Another Early Warning Siren Goes OffOur friend Jonathan Tepper of research house Variant Perception (check out their blog to see some of their excellent work) recently pointed out to us that the...

Readers may recall that we regard Bitcoin (BTC) and other liquid big cap cryptocurrencies as secondary media of exchange from a monetary theory perspective for the time being. The wave of speculative...

On Friday the ongoing trade dispute between the US and China was apparently escalated by a notch to the next level, at least verbally. The Trump administration announced a list of tariffs that are...

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