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Articles related to Sovereign Debt
 
Steve Saville - Speculative Investor
The Masters of the Universe Fallacy
Whenever there’s a major financial crisis, the largest commercial and investment banks invariably take big hits. This causes them to either go bust or go in search of a bailout. In fact, as far as I can tell there has never been a case over the past 50 years of an elite financial institution being on the right side of a major financial crisis. The same goes for central banks. Judging by their words and their actions, the heads of the world’s most important central banks have been blindsided by e
Wednesday, June 29, 2016
Bullion Vault
Gold Prices Extend Brexit Bombshell Surge as 'Stable' Markets Sink Yet Again
GOLD PRICES pushed up but held below Friday's Brexit jump to new multi-year highs in London trade Monday, as Western stock markets sank once again following the UK referendum's decision to quit the European Union. Gold on Friday made its highest weekly close in London's wholesale trade since July 2014 against the Dollar, and rose again today despite strong selling pressure at the benchmark LBMA Gold Price
Monday, June 27, 2016
Przemyslaw Radomski CFA - SunshineProfits
Gold-to-Platinum Ratio
The gold-to-silver ratio is the most popular ratio among the precious metals. However, we can also link gold prices to platinum prices. Mathematically, the gold-to-platinum ratio is the price of gold divided by the price of platinum. It describes how many ounces of platinum are needed to purchase one ounce of gold, indicating the relative strength of gold prices compared to platinum prices. The indicator works just as the gold-to-silver ratio, so we will not explain its mechanics, but move strai
Saturday, June 25, 2016
Mish - Global Economic Analysis
ECB Running Out of Bonds to Buy for QE
ECB rules say QE bond purchases must be weighted according to size of the economy. That means German bonds are the preferred issue. The rules also stipulate a floor interest rate of -0.4%. Most German bonds trade below that figure. Expect a rule change because the ECB wants to continue its ridiculous and counterproductive QE program. Please consider The ECB Could Soon Run Out of Bunds to Buy. The European Central Bank’s haul of bonds passed a trillion euros this month. A second trillion may be
Wednesday, June 22, 2016
Mark O'Byrne - gold.ie
Gold Prices Surge to Highest in Nearly Two Years On FED and Brexit Haven Demand
Gold prices surged to their highest level in nearly two years yesterday on BREXIT concerns and deepening concerns that the Federal Reserve central banks are slowly losing control of the financial and monetary system.Gold subsequently fell quite sharply below the key $1,300 level but remains roughly 1% higher for the week in all currencies and is on track for its third week of gains. Asset Performance YTD 2016 (Finviz)Ultra loose monetary policies are set to get even looser as the Federal Reserve
Friday, June 17, 2016
Jesse - Le Cafe Américain
SP 500 and NDX Futures Daily Charts - Brexit Jitters and the Central Banks
Given the depth of the negative yields across the durations of the major sovereign debt in Europe, it is fairly obvious that a 'flight to safety' is ongoing. The FOMC is meeting and will make a sage pronouncement tomorrow afternoon. The people of Britain will cast their votes on June 23. Have a pleasant evening.
Wednesday, June 15, 2016
Adrian Ash - Bullion Vault
The Royal Mint Joins SIPP Gold Offers
Gold now welcome in SIPP pension savings. Welcome since 2006 in fact... GOOD NEWS – the Royal Mint is joining the current providers of gold to self-invested pension savers in the UK (SIPPS), a tax efficient way of investing in bullion, writes Adrian Ash at BullionVault. It means more choice and competition for savers wanting to benefit from that potentially juicy disc
Tuesday, June 14, 2016
John Rubino - Dollar Collapse
Unintended Consequences, Part 3: 'How Do I Get Away From Negative Yi
The theory was pretty straightforward: push interest rates down far enough -- in some cases to negative territory where borrowers actually turn a profit on their debts -- and people will borrow money, spend it, and growth will ensue, with all that that implies for incumbent party election victories, banker year-end bonuses and other extremely important public policy goals. But the theory's designers apparently missed some crucial concepts -- like the fact that people would be free to i
Friday, June 10, 2016
Alasdair Macleod - Finance and Eco.
  The pensions mess: can gold help?
The British have recently seen two unpleasant examples of the cost of pension fund deficits.A deficit at British Steel, estimated to be about £485m, was followed by a deficit at British Home Stores of £571m. In both cases, pension fund deficits have scuppered corporate rescue plans, because understandably no buyer will take on these liabilities.These two cases are the small tips of a very large iceberg, and reflect problems not just in Britain, but anywhere where pension schemes exist. They have
Thursday, June 9, 2016
Mish - Global Economic Analysis
  Negative Interest Rate Mutiny in Germany, Japan
Banks in Japan and Europe are fed up with central bank negative interest rate policies that cost the banks money. Commercial banks and their customers alike seek ways to avoid central bank lunacy. In Germany, banks are considering holding deposits in cash rather that parking funds at the ECB. The Financial Times reports Negative Rates Stir Bank Mutiny. Lenders in Europe and Japan are rebelling against their central banks’ negative interest rate policies, with one big German group going so far a
Thursday, June 9, 2016
Chris Powell - GATA
Negative-yield debt breaks $10 trillion level for first time
Negative-yielding government debt has risen above $10 trillion for the first time, enveloping an increasingly large part of the financial markets after being fueled by central bank stimulus and a voracious investor appetite for sovereign paper. The amount of sovereign debt trading with a sub-zero yield climbed 5 percent in May from a month earlier to $10.4 trillion, buoyed by rising bond prices in Italy, Japan, Germany, and France, according to rating agency Fitch. Yields fall as the price of th
Saturday, June 4, 2016
Sprott Money
10 Questions About Our Broken Financial System - Gary Christenson
Bonds look like a bubble in search of a pin. What if global bonds are revalued lower to account for the following? Probability of repayment in a currency that will maintain its purchasing power for the lifetime of the bond. Probability of responsible fiscal management by the governments of the bond issuing countries. Probability of repayment without rolling over those bonds by creating EVEN MORE UNPAYABLE Actual positive yield. From Alasdair MacLeod: The Eurozone is the greatest danger. “M
Tuesday, May 31, 2016
Mark O'Byrne - gold.ie
Gold Price Forecasts Revised Higher To $1,400/oz – Citi Says “Buy the Dip”
Gold price forecasts have been revised higher in recent weeks and Citi became the latest bank to revise higher their projections for gold, despite the recent weakness in the price.Gold in USD – 10 yearsCiti Research, the research division of one of the world’s biggest banks, raised its gold price forecast to an average $1,280 in the current quarter, $1,300 in the July-September period, and $1,250 in the final three months of the year.Citi has become bullish not just on gold but on a large sectio
Monday, May 30, 2016
John Rubino - Dollar Collapse
How Stupid Do You Have To Be, Part 2: 100-Year Bonds
"Of course there are true copper bottomed mistakes, like spelling the word "rabbit" with three m's, or wearing a black bra under a white blouse, or, to make a more masculine example, starting a land war in Asia." ~ John Cleese We all make mistakes, but some are bigger than others. An example of a serious one that's both potentially catastrophic and easily avoided is to lend money for long periods during a time of rising debt and financial instability. Who, for instance,
Tuesday, May 17, 2016
Michael Pento - Delta Global Advisors
Why Puerto Rico Defaulted and Greece Did Not
The Caribbean island of Puerto Rico is in the throes of a debt crisis that recently reached a breaking point when it missed a $422 million bond payment due May 2nd. When asked in a subsequent interview about the likelihood of making future payments on the remaining $72 billion of debt, Puerto Rican Governor Alejandro Garcia Padilla noted that the U.S. territory "does not anticipate having the money." Even a cursory review of Puerto Rico's finances confirms Padilla's claim of insolven
Monday, May 16, 2016
Gordon Long - Market Analytics
Too Big to Jail
You Have Financial Institutions Which are Too Big to Fail But Too Big to Jail, and Frankly, Too Big to Regulate and Too Big to Manage! FRA Co-founder Gordon T. Long is joined by Satyajit Das in discussing the consequences of financial repression and current policy making, along with the effects of the Chinese economy. SATYAJIT DAS is an internationally respected expert in finance, with over 35 years' experience. Das presciently anticipated many aspects of the global financial crisis i
Tuesday, May 10, 2016
Darryl Robert Schoon - Survive the Crisis
Monetary Liquifaction, Gold and The Time Of The Vulture
Liquifaction: . 3: conversion of soil into a fluidlike mass during an earthquake or other seismic event, 4: inability of flooded capital markets to absorb additional capital without destabilizing paper assets, e.g.stocks, bonds, currencies, etc., 5. a monetary phenomena associated with the collapse of capital markets.LIQUIFACTION AFTER 1964 ALASKAN EARTHQUAKEInflation is always and everywhere a monetary phenomena caused by an increase in the money supply, the greater the increase, the greater th
Friday, May 6, 2016
Phoenix Capital - Gains Pains & Capital
The ECB Just Admitted QE and NIRP Cannot Produce Growth
As we noted yesterday, the ECB cannot and will not be able to generate GDP growth or inflation. The EU is simply too leveraged. You cannot have an entire region sporting a Debt to GDP of over 90%... with banks leveraged at 26 to 1 using sovereign debt as collateral on their derivatives trades, and “fix it” using NIRP or QE. This is like trying to hold up a 400 lb. weight… and then having someone offer you a floor lamp as additional support. The effect, at best, is largely psychological. Cue t
Tuesday, May 3, 2016
Mark O'Byrne - gold.ie
Gold “Chart of The Decade” – Maths Suggest $10,000 Per Ounce Says Rickards
James Rickards, economic and monetary expert, joined Bloomberg’s Francine Lacqua on Tuesday to discuss the gold “chart of the decade”, his new book “The New Case for Gold,” why gold is money and why gold is going to $10,000/oz in the coming years.Gold in USD – 10 Years (GoldCore)Francine generously acknowledged how Rickards was “bullish on gold for quiet some time and actually you have been proven right … it is the chart of the decade”. She said that this “has to do with inflation expectations,
Friday, April 29, 2016
Przemyslaw Radomski CFA - SunshineProfits
April BoJ Meeting and Gold
Yesterday, the Bank of Japan released its most recent monetary policy statement. How can it affect the gold market? The recent FOMC statement did not surprise the markets. On the contrary, the Bank of Japan dashed the investors’ hopes and decided to maintain the key policy rate steady while keeping the monetary base expansion at 80 trillion yen annually. The BOJ also pushed back its timeframe for achieving the target of 2-percent inflation to 2017. On the other hand, the BoJ said that it would p
Friday, April 29, 2016
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