Among the many problems currencies the markets face, there is one that is undocumented: the eurodollar market. This is yet another very large elephant in the room.
This article quantifies eurodollars and eurodollar bonds, which are additional to US money supply and credit.
We’re fed up — fed up with the Federal Reserve. After all, it is the engine that drives the biggest government in history. In this episode of the Friday Gold Wrap, host Mike Maharrey explains what the Fed is, how it came to be, and how it enables reckless government borrowing and spending. He also talks about one reason why the recent drop in the CPI is likely transitory.
After returning to net gold buying in June, central banks continued to add to their gold reserves in July.
Globally, central banks reported net purchases of 55 tons in July, according to the latest data compiled by the World Gold Council.
As evidence mounts that the major Western economies are heading into a banking and monetary crisis due to contracting credit, we face the consequences of unsound money. The era of fiat is drawing to a close and its death will be painful for the highly indebted advanced economies in North America, Europe, and Japan. History and legal precedent tell us that fiat will die and gold will return to provide an anchor to credit system values.
After three straight months of net sales, central banks globally became net buyers of gold again in June.
On net, central banks bought 55 tons of gold in June as the Central Bank of Turkey switched from selling back to buying, according to the most recent data compiled by the World Gold Council.
Despite significant selling by Turkey that slowed net central bank gold buying in the second quarter, central banks added a record amount of gold to their reserves through the first half of 2023.
In the wake of Western sanctions on Russia after the invasion of Ukraine, many central banks are bringing their gold home for safekeeping, according to an Invesco survey of central banks and sovereign wealth funds.
Excluding another big sale by Turkey, central banks were net buyers of gold in May, according to the latest data compiled by the World Gold Council.
Eight central banks added gold to their reserves in May with net purchases totaling 50 tons.
Most people in the mainstream concede that the economy is heading for a recession, but the consensus seems to be that downturn will be short and shallow. Projections by the World Bank undercut that optimism.
According to the World Bank, global growth in 2023 will slow to the lowest level since the 2008 financial crisis.
A large sale by Turkey in April caused global central bank reserves to fall for the first time in over a year, even as central bank gold buying continued.
Official global reserves dropped by 71 tons in April, according to the latest data collected by the World Gold Council.
