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The great Khan (Chinese ruler), causes the bark of trees, made into something like paper, to pass for money all over his country
Marco Polo  
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Articles related to Money Supply
Alasdair Macleod - Finance and Eco.
The fiat money quantity (FMQ) 
Summary : This paper seeks to establish a measure of currency quantity that helps economists identify and estimate the risk that confidence in fiat currencies might be significantly eroded or even vanish altogether. It is this phenomenon that was referred to in the great European currency inflations of the 1920s as Katastrophenhausse, or a crack-up boom, when ordinary people lose all confidence in a fiat currency, disposing of it as rapidly as possible instead preferring ownership of goods.This is
Tuesday, September 30, 2014
Michael Pento - Delta Global Advisors
Yo - This Market is Set For a Major Correction 
Wall Street came to a halt recently, as Chinese e-commerce giant Alibaba made its Initial Public Offering debut. The media became myopically focused over this so-called "historic event" and by its celebrity founder Jack Ma. By the time the closing bell had rung, the hype and fanfare propelled Alibaba up 36 percent on its first day of trading and caused the world's largest IPO to display a market cap worth $231 billion. The investing public seems to have forgotten the dangers associat
Monday, September 29, 2014
Chris Powell - GATA
For one New Jersey candidate, the issue is gold NEW BRUNSWICK, New Jersey -- Republican Jeff Bell spent three decades in Washington working on policy and wrote a book promoting all aspects of social conservatism. But so far his campaign for the U.S. Senate has centered on just one issue: returning the United States to the gold standard. It's an idea that his opponent, Democratic incumbent Cory Booker, dismisses as "defunct and debunked," which is pretty much how most
Sunday, September 28, 2014
Alasdair Macleod - Finance and Eco.
Market Report: $1200 for gold underpinned by physical demand 
This week saw gold rally $15 to $1233 on Tuesday before sliding to $1207 yesterday morning, then rallying in the afternoon. Silver's moves tracked gold's, bottoming out at $17.30 yesterday at the London opening. This morning precious metals are firmer in pre-LBMA trade, reflecting some short-covering ahead of the weekend. The action, as has often been the case recently, is in paper markets with hedge funds shorting gold and silver against a strong dollar. This can be readily seen in the followin
Saturday, September 27, 2014
Alasdair Macleod - Finance and Eco.
Valuing gold and turkey-farming.
Today's financial markets are built on the sand of unsound currencies. Consequently brokers, banks and investors are wedded to monetary inflation and have lost both the desire and ability to understand gold and properly value it. Furthermore governments and central banks in welfare-driven states see markets themselves as the biggest threat to their successful management of the economy, a threat that needs to be tamed. This is the backdrop to the outlook for the price of gold today and of the for
Friday, September 26, 2014
Keith Weiner - Monetary Metals
A Monetary Cancer Metastasizes in Europe 
The European Central Bank again cut the interest rates it controls. Notably, the deposit rate was moved deeper into negative territory. It is now -0.2% (minus 20 basis points, that is not a typo). The ECB says it’s trying to nudge prices higher, but it’s actually feeding the cancer of falling interest. The linked article above, like most, is focused on the quantity of euros and the presumed direct relationship to price. The following bit of editorializing from that article is uncontroversial in
Thursday, September 25, 2014
Frank Shostak
Time Preference and Long-Term US Interest Rates
After closing at 3.03 percent in December 2013, the yield on the 10-year US T-Note has been trending down, closing at 2.34 percent by August this year. Many commentators are puzzled by this, given the optimistic forecasts for economic activity by Fed policy makers. According to mainstream thinking, the central bank is the key factor in determining interest rates. By setting short-term interest rates, the central bank, it is argued, through expectations about the future course of its interest r
Wednesday, September 24, 2014
Mish - Global Economic Analysis
Bidding Wars Stop; Millennials Leave Their Parents' Basements, But Not For Homes; Pent Up Demand?
Bidding Wars Stop With cash-paying investors on full retreat, existing home sales dropped 1.8% in August, according to the National Association of Realtors. Lawrence Yun, NAR chief economist says that's a good thing because "first-time buyers have a better chance of purchasing a home now that bidding wars are receding and supply constraints have significantly eased in many parts of the country.” While I agree it's a good thing that bidding wars stopped, the fact of the matter is home prices
Tuesday, September 23, 2014
Alasdair Macleod - Finance and Eco.
Market Report: Another miserable week for PMs
Gold and silver drifted lower over the course of the week, with a challenge to the $1200 level for gold becoming a distinct possibility. Silver is struggling to hold $18.50. Mainstream opinion has been negative for commodities generally, with a strong dollar undermining them. Brent crude, for example, is now well under $100. It is important to understand the connectedness between different asset classes in today's markets. Hedge funds, and bank traders sell one asset and hedge it by taking a pos
Saturday, September 20, 2014
Jim Willie CB - Hat Trick Letter
Monetary Policy Killing the ... 
The byline should read MONEY VELOCITY HITS RECORD LOW, WHILE MONEY SUPPLY CONTINUES TO GO INTO ORBIT... SYSTEMIC FAILURE IS EVIDENT AS POLICY IS NOT STIMULUS AT ALL... THE PRINCIPAL CAUSE FOR THE BREAKDOWN IS MONETARY POLICY, WHICH IS STUCK IN PLACE.The USFed monetary policy is killing the system, simply and boldly put. They call it stimulus, when the extreme accommodation is actually just a backdoor Wall Street bailout combined with a pass on the USGovt debt discipline. No debt limit is enforce
Saturday, September 20, 2014
Mish - Global Economic Analysis
Idiotic Proposals for Fed to Give Away Money
A Fiscal Times, Yahoo Finance article by by John Grgurich claims that Instead of QE, Fed Could Have Given $56,000 to Every Household in America . Grgurich formulated his article after reading "an intriguing piece just published in Foreign Affairs, Brown University political economist Mark Blyth and London-based hedge fund manager Eric Lonergan argue the Fed could have done better by pursuing a far different type of grand policy experiment." The "intriguing piece" is Print Less but Transfer Mor
Friday, September 19, 2014
John Rubino - Dollar Collapse
They Really Mean
Nearly a century after the fact, the Great Depression remains THE object lesson for virtually every branch of economics. To monetarists the fact that the US money supply fell by nearly a third in the 1930s illustrates the need for a central bank to maintain steady money growth. To Keynesians the Depression's depth and duration proved that capitalist systems are inherently unstable and need a big, powerful government to manage them. World War II, in this framework, saved the US econom
Wednesday, September 17, 2014
Stewart Thomson - Graceland Update
Gold: Janet & Raj Stoke The Bulls
Graceland Updates By Stewart Thomson1.Gold is the ultimate asset, and I think both the bulls and bears are probably going to learn that fact, the hard way.The gold bears view QE tapering and looming US interest rate hikes, as bearish for gold, and the bulls are sure gold is ready to soar vastly higher.2.One of the features that make an asset ultimate, is price stability.Unlike the bulls and the bears, I predict that gold is going to trade sideways.3.Please click here now. Double-click to enlarge
Tuesday, September 16, 2014
Michael Pento - Delta Global Advisors
  Why Goldman Sachs is Wrong on Gold 
Wall Street powerhouse Goldman Sachs has recently reiterated its negative view on gold, which it has held for the past year. However, it is now doubling down on this view and advising clients to actually go short the metal. Jeff Currie, head of commodity research at Goldman noted "Our target is really driven by the view that we think that the Fed will ultimately be the dominate force here and put more downward pressure [on prices]". While I am in agreement with Goldman that the Fed wil
Monday, September 15, 2014
Mac Slavo - ShtfPlan
  Report: It’s YOUR Fault: Fed Says Americans Who “Hoard Money” Are To Blame For Poor Econ 
Despite arguments to the contrary from the Obama administration, mounting evidence suggests that the U.S. economy is rapidly falling back into negative growth territory. More Americans are out of the workforce than ever before, median household incomes are at levels not seen since 1967, and consumer spending is coming to a veritable standstill. The crisis is apparently so significant that a Federal Reserve governor recently said U.S. policymakers are crafting regulations that will force bank dep
Saturday, September 13, 2014
Andy Hoffman - Miles Franklin
The Lowest Inflation in Five Years!
Lately it feels like “goldbugs” have been forced to endure the trials of a job.  Trust me, no one understands this better than myself, having taken my first job in the mining industry in April 2007, the exact month the TSX-Venture index peaked; and joining Miles Franklin in October 2011, one month after “dollar-priced gold” peaked.  I can go on and on about TPTB’s “point of no return” decision in September 2011, when they realized the only way to avoid instantaneous, systemic implosion was unpre
Thursday, September 11, 2014
Stewart Thomson - Graceland Update
Gold's Transition Zone: Investor Strategy
Graceland Updates By Stewart Thomson1.The QE program created substantial hedge fund interest in gold-related ETFs.Unfortunately, QE never created the inflation the funds had anticipated.2.That’s because commercial banks held the QE money they received, “tight to the chest”, rather than loaning it to businesses and consumers.3.In a nutshell, by enlarging the money supply while GDP was falling, the Fed created deflation.4.So, if the Fed were to shrink the money supply now, or at least reduce its r
Tuesday, September 09, 2014
Captain Hook - Treasure Chest
Looked at in the appropriate light, the world has embraced the essence of the movie Videodrome in many respects since its release in 1983, with a hollowing out of our morality (corresponding to the economy), Orwellian mind control, and living televisions perhaps the most salient parallels. Well, at least it seems like the televisions are alive – and they certainly control how most people think these days. To this end, I would postulate that even the surging stock market has morphed into a pseudo
Monday, September 08, 2014
Alasdair Macleod - Finance and Eco.
Market Report: Short-sellers driving prices
Gold and silver had a bad week, with gold falling $25 to a low of $1262 by the Comex close yesterday, and silver by $0.50. This morning UK-time prices opened a little better on overnight physical demand, no doubt stimulated by those lower prices. The background to this poor performance was dollar strength relative to weak currencies, with the yen, euro and pound all declining sharply. It feels like the market is drained of all positive sentiment, which is reflected in the very low level of open
Saturday, September 06, 2014
Alasdair Macleod - Finance and Eco.
Market Report: Short-sellers driving prices
Market Updates Gold and silver had a bad week, with gold falling $25 to a low of $1262 by the Comex close yesterday, and silver by $0.50. This morning UK-time prices opened a little better on overnight physical demand, no doubt stimulated by those lower prices. The background to this poor performance was dollar strength relative to weak currencies, with the yen, euro and pound all declining sharply. It feels like the market is drained of all positive sentiment, which is
Friday, September 05, 2014