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# Monetary Metals

Unlocking the productivity of gold

## Sitemaps

- [XML Sitemap](https://www.monetary-metals.com/sitemap.xml): Contains all public & indexable URLs for this website.

## Pages

- [Home](https://www.monetary-metals.com/) - Monetary Metals delivers a yield on gold, paid in gold, via its Gold Yield Marketplace™ platform, by offering gold-denominated financing to qualified businesses.
- [What makes us different?](https://www.monetary-metals.com/what-makes-us-different-2/) - Monetary Metals offers a platform where you can earn gains on gold, paid in more ounces of gold, by leasing your gold to qualified precious metals businesses.
- [Gold yield](https://www.monetary-metals.com/gold-yield/) - Monetary Metals operates the gold yield marketplace™, a platform that offers investors a yield on gold, paid in gold™, via gold leases and gold bonds.
- [Our Team](https://www.monetary-metals.com/about-us/our-team/) - Monetary Metals is a disruptive company serving the needs of gold investors and those seeking to earn a return on gold. Meet the exceptional people on executive team.
- [Gold Financing](https://www.monetary-metals.com/gold-financing/) - We offer 2 financing solutions: precious metals leases to finance inventory. Gold & silver loans to finance production.
- [Webinar landing page](https://www.monetary-metals.com/webinar-landing-page/) - In this exclusive webinar, CEO Keith Weiner reveals the real economic forces driving gold and silver, and the data we use to make our 2026 price predictions.
- [New gold lease pays 4 %interest on gold, in gold](https://www.monetary-metals.com/new-gold-lease-pays-interest-on-gold/) - New gold lease opportunity paying 4% return on gold with Monetary Metal. Store it for free, lease it securely for a modest return, or lend it for higher yields.
- [New gold lease pays yield on gold, in gold](https://www.monetary-metals.com/earn-interest-on-gold-in-gold/) - New gold lease opportunities with Monetary Metal. Store it for free, lease it securely for a modest return, or lend it for higher yields.
- [Liberty Vault | Earn a yield on gold, paid in gold](https://www.monetary-metals.com/vault/) - Stop trying to save and earn in dollars. Start saving and earning in gold and silver, and watch your total ounces compound and grow over time.
- [Earn a yield on gold with Impact Theory](https://www.monetary-metals.com/impact/) - Stop trying to save and earn in dollars. Start saving and earning in gold and silver, and watch your total ounces compound and grow over time.
- [FAQ](https://www.monetary-metals.com/faq/) - Learn everything you need to know about earning a yield on gold and silver with Monetary Metals. How to open an account and invest in gold leases and bonds.
- [Rafi Farber | Earn a yield on gold, paid in gold](https://www.monetary-metals.com/rafi/) - I’m interested in learning more Grow your ounces If you follow the End Game Investor, you already know that owning precious metals is crucial as a hedge against financial instability. But you might only know about the conventional ways to own gold and silver. With Monetary Metals, you can earn A Yield on Gold, Paid in
- [Gold leases](https://www.monetary-metals.com/gold-leases/) - Earn a yield on gold by leasing it to qualified businesses in the industry. Lease rates on gold and silver have historically been between 2% and 4% annually.
- [Partner with us](https://www.monetary-metals.com/partner-with-us/) - Partner with Monetary Metals and start getting paid in gold today. Work with us as an affiliate, advertiser or advisor and add evergreen revenue to your business.
- [Earn a yield on silver](https://www.monetary-metals.com/earn-interest-on-silver/) - Earn a return on silver in our silver leases and silver bonds. You'll learn more about the risk, returns and benefits of our silver fixed income products.
- [Open your account](https://www.monetary-metals.com/open-your-account/) - Opening an account is a simple process and can be completed in minutes. Minimum to open is 10 oz of gold, 1000 oz of silver or the US dollar equivalent.
- [Gold leases by Monetary Metals](https://www.monetary-metals.com/earn-interest-on-gold-2/) - Monetary Metals™ operates the gold yield marketplace™, a platform for products that offer investors a yield on gold and silver, paid in gold and silver.
- [About us](https://www.monetary-metals.com/about-us/) - At Monetary Metals, our core values define what’s important to us, shape who we are, and inspire us to be better. Our entire team revisits these values monthly.
- [Careers](https://www.monetary-metals.com/about-us/careers/) - We’re always looking for talented individuals to join us on our journey to help the world rediscover the use of gold as money.
- [How we protect client gold and silver](https://www.monetary-metals.com/how-we-protect-client-gold-and-silver/) - Protecting investor metal is our top priority. Before any lease or bond is offered, we conduct rigorous financial, legal and operational due diligence.
- [Tour our client portal](https://www.monetary-metals.com/tour-our-client-portal/) - Explore the Monetary Metals Client Portal — track your gold & silver balances, view real-time yields, manage leases & bonds and grow your ounces with ease.
- [Earn a yield on gold, paid in gold with Richard Christopher Whalen](https://www.monetary-metals.com/wga/) - Monetary Metals offers a yield on gold and silver, paid in gold and silver. You can earn up to 4% every year, paid in more ounces of physical gold and silver.
- [Earn interest on gold, paid in gold with Precious Metals Investment Portfolio](https://www.monetary-metals.com/pmip/) - Monetary Metals offers you the ability to earn regular monthly interest income by leasing precious metals to qualified businesses in the industry.
- [Earn interest on gold, paid in gold on YouTube](https://www.monetary-metals.com/youtube/) - Stop trying to save and earn in dollars. Start saving and earning in gold and silver, and watch your total ounces compound and grow over time.
- [Earn a yield on gold, paid in gold with Kirk Duguay](https://www.monetary-metals.com/duguay/) - Monetary Metals offers a yield on gold and silver, paid in gold and silver. You can earn up to 4% every year, paid in more ounces of physical gold and silver.
- [Earn a yield on gold, paid in gold with Best Silver Gold Deals](https://www.monetary-metals.com/bsgd/) - Monetary Metals offers a yield on gold and silver, paid in gold and silver. You can earn up to 4% every year, paid in more ounces of physical gold and silver.
- [Earn a yield on gold, paid in gold with Dave Peter](https://www.monetary-metals.com/coinhuskers/) - Stop trying to save and earn in dollars. Start saving and earning in gold and silver, and watch your total ounces compound and grow over time.
- [Earn a yield on gold, paid in gold with Richard Christopher Whalen](https://www.monetary-metals.com/whalen/) - Monetary Metals offers a yield on gold and silver, paid in gold and silver. You can earn up to 4% every year, paid in more ounces of physical gold and silver.
- [Earn a yield on gold, paid in gold with Aftermath](https://www.monetary-metals.com/aftermath/) - Monetary Metals offers a yield on gold and silver, paid in gold and silver. You can earn up to 4% every year, paid in more ounces of physical gold and silver.
- [Earn a yield on gold, paid in gold with Yasin Nizami](https://www.monetary-metals.com/nizami/) - Monetary Metals offers a yield on gold and silver, paid in gold and silver. You can earn up to 4% every year, paid in more ounces of physical gold and silver.
- [Earn a yield on gold, paid in gold with Solomon Meroe](https://www.monetary-metals.com/solomonmeroe/) - Stop trying to save and earn in dollars. Start saving and earning in gold and silver, and watch your total ounces compound and grow over time.
- [Earn a yield on gold, paid in gold with Prosper Nwankpa](https://www.monetary-metals.com/silverx-gold/) - Monetary Metals offers a yield on gold and silver, paid in gold and silver. You can earn up to 4% every year, paid in more ounces of physical gold and silver.
- [Earn a yield on gold, paid in gold with Solutions by Hamiltons](https://www.monetary-metals.com/hamiltons/) - Monetary Metals offers a yield on gold, paid in gold, giving clients the ability to grow and compound their wealth in ounces of gold and silver.
- [Earn a yield on gold, paid in gold with Jasmine Birtles](https://www.monetary-metals.com/magpie/) - Monetary Metals offers a yield on gold and silver, paid in gold and silver. You can earn up to 4% every year, paid in more ounces of physical gold and silver.
- [Contact us](https://www.monetary-metals.com/contact-us/) - Contact us Please provide your details below and let us know how we can help. We’ll be in touch shortly. For urgent issues, you can reach us via phone on 1.480.867.2100.
- [Triggernometry | Earn a yield on gold, paid in gold](https://www.monetary-metals.com/triggernometry/) - Stop trying to save and earn in dollars. Start saving and earning in gold and silver, and watch your total ounces compound and grow over time.
- [Lexicon: Terms We Use](https://www.monetary-metals.com/lexicon/) - We're precise in our communications. Here's a guide to the most important terms we use. Regarding economics & gold, we say what we mean & mean what we say.
- [Earn a yield on gold paid in gold](https://www.monetary-metals.com/zerohedgeone/) - New gold lease opportunities with Monetary Metal. Store it for free, lease it securely for a modest return, or lend it for higher yields.
- [JRWA passive income report](https://www.monetary-metals.com/earn-gold-passive-income/) - New gold lease opportunities with Monetary Metal. Store it for free, lease it securely for a modest return, or lend it for higher yields.
- [Liberty Lockdown | Earn a yield on gold, paid in gold](https://www.monetary-metals.com/lockdown/) - Stop trying to save and earn in dollars. Start saving and earning in gold and silver, and watch your total ounces compound and grow over time.
- [Earn a yield on gold, paid in gold](https://www.monetary-metals.com/goldseek/) - Monetary Metals offers a yield on gold and silver, paid in gold and silver. You can earn up to 4% every year, paid in more ounces of physical gold and silver.
- [Bob Murphy | Earn interest on gold, paid in gold](https://www.monetary-metals.com/murphy/) - Stop trying to save and earn in dollars. Start saving and earning in gold and silver, and watch your total ounces compound and grow over time.
- [Earn in gold with GEN](https://www.monetary-metals.com/gen/) - Stop trying to save and earn in dollars. Start saving and earning in gold and silver, and watch your total ounces compound and grow over time.
- [Gold bonds](https://www.monetary-metals.com/gold-bonds/) - Gold bonds offer better potential returns than gold itself. Accredited investors can earn up to 19% a year with our gold bond fixed income. Zero storage fees.
- [The Bitter Draught | Earn a yield on gold, paid in gold](https://www.monetary-metals.com/tbd/) - Stop trying to save and earn in dollars. Start saving and earning in gold and silver, and watch your total ounces compound and grow over time.
- [Big thank you page | with hero](https://www.monetary-metals.com/big-thank-you/) - Learn more about The Gold Yield MarketplaceTM Gold yield Gold leases Gold bonds Check out some recent articles Comparing gold vs the S&P 500 1 Million Silver Ounces Delivered to Bunker Hill Mining Monetary Metals named to the Inc 5000 list Browse our top FAQ on earning interest on gold and silver. How is Monetary
- [Earn in gold with George Gammon](https://www.monetary-metals.com/gammon/) - Stop trying to save and earn in dollars. Start saving and earning in gold and silver, and watch your total ounces compound and grow over time.
- [Software Engineer for Monetary Metals](https://www.monetary-metals.com/about-us/careers/software-engineer-for-monetary-metals/) - Monetary Metals is seeking a software engineer to join our growing team. We are offering 1 oz of gold as a referral incentive.
- [SparkRental | Earn gold passive income](https://www.monetary-metals.com/spark/) - With Monetary Metals you get paid in physical ounces of metal, so you can watch your total ounces grow and compound year after year.
- [Part of the Problem | Earn interest on gold, paid in gold](https://www.monetary-metals.com/potp/) - Stop trying to save and earn in dollars. Start saving and earning in gold and silver, and watch your total ounces compound and grow over time.
- [Earn a yield on gold with David Morgan](https://www.monetary-metals.com/morgan/) - Stop trying to save and earn in dollars. Start saving and earning in gold and silver, and watch your total ounces compound and grow over time.
- [Tom Woods | Earn a yield on gold, paid in gold](https://www.monetary-metals.com/woods/) - Stop trying to save and earn in dollars. Start saving and earning in gold and silver, and watch your total ounces compound and grow over time.
- [About gold forward rates](https://www.monetary-metals.com/home/about-forward-rates/) - To help bring transparency back to the gold market, Monetary Metals® developed unconventional proprietary techniques to offer free data on forward rates.
- [Disclaimer](https://www.monetary-metals.com/disclaimer/) - Lease Presentation Disclaimer Client metal is held by Monetary Metals Treasury/Holdings, LLC, an individual series of Monetary Metals Treasury, LLC, a Delaware series limited liability company, until such metal is allocated to an active lease. Monetary Metals & Co., as Agent, may send Lease Opportunity Presentations, each describing the proposed terms of a lease wherein
- [Data Science](https://www.monetary-metals.com/data-science-charts/) - Gold and silver prices This chart shows the gold and silver bid prices around 3pm London time, a period of high liquidity as it corresponds with the setting of the afternoon LBMA benchmark gold price and the morning of Comex futures trading. 3 MONTH CHART OF GOLD & SILVER PRICES 3 YEAR CHART OF GOLD
- [Run Your Mouth | Earn a yield on gold, paid in gold](https://www.monetary-metals.com/rym/) - Watch your total ounces grow and compound, while never having to worry about inflation eating away your hard-earned savings. Earn a yield on gold, paid in gold.
- [Kyle Kingsbury | Earn interest on gold, paid in gold](https://www.monetary-metals.com/kkp/) - Get paid monthly interest payments in physical ounces of metal by leasing your metal to qualified precious metals companies in our Gold Yield Marketplace™.
- [Heresy Financial | Earn interest on gold, paid in gold](https://www.monetary-metals.com/heresy-financial/) - Stop trying to save and earn in dollars. Start saving and earning in gold and silver, and watch your total ounces compound and grow over time.
- [Awaken | Earn interest on gold, paid in gold](https://www.monetary-metals.com/awaken/) - Stop trying to save and earn in dollars. Start saving and earning in gold and silver, and watch your total ounces compound and grow over time.
- [Babylon | Earn interest on gold, paid in gold](https://www.monetary-metals.com/babylon/) - Monetary Metals offers you the ability to earn regular monthly interest income by leasing precious metals to qualified businesses in the industry.
- [The Daily Caller | Earn interest on gold, paid in gold](https://www.monetary-metals.com/caller/) - Monetary Metals offers you the ability to earn regular monthly interest income by leasing precious metals to qualified businesses in the industry.
- [JP Reacts | Earn interest on gold, paid in gold](https://www.monetary-metals.com/jpreacts/) - Watch your total ounces grow and compound, while never having to worry about inflation eating away your hard-earned savings.
- [Delingpole | Earn interest on gold, paid in gold](https://www.monetary-metals.com/delingpole/) - Stop trying to save and earn in dollars. Start saving and earning in gold and silver, and watch your total ounces compound and grow over time.
- [Vice President of Business Development](https://www.monetary-metals.com/about-us/careers/vp-of-business-development/) - We are seeking an experienced sales or business development professional with a passion for driving business growth, to become our VP of Business Development.
- [Technical Assistant to the CEO](https://www.monetary-metals.com/about-us/careers/technical-assistant-to-the-ceo/) - Monetary Metals is searching for a mission-aligned individual to support the CEO in the capture, organization, and execution of his responsibilities
- [Peter St Onge | Earn interest on gold, paid in gold](https://www.monetary-metals.com/peter/) - Stop trying to save and earn in dollars. Start saving and earning in gold and silver, and watch your total ounces compound and grow over time.
- [Wall Street Silver | Earn interest on silver](https://www.monetary-metals.com/wss/) - Monetary Metals offers you the ability to earn regular monthly interest income by leasing precious metals to qualified businesses in the industry.
- [404](https://www.monetary-metals.com/404-2/) - 404 Not all who wander are lost Just in case, here are some nuggets to help you on your way. Gold yield See how we bring gold owners and gold users together, in our unique marketplace. Gold financing We provide lease and debt financing to qualified companies.
- [Bacheimer | Earn interest on gold, paid in gold](https://www.monetary-metals.com/bachheimer/) - Stop trying to save and earn in dollars. Start saving and earning in gold and silver, and watch your total ounces compound and grow over time.
- [Jim Hunter | Earn interest on gold, paid in gold](https://www.monetary-metals.com/alps/) - Gold is different. It’s a monetary asset outside of the fiat system. And now, thanks to Monetary Metals, you can earn A Yield on Gold, Paid in Gold®
- [The Investor Podcast | Earn interest on gold, paid in gold](https://www.monetary-metals.com/growmygold/) - With Monetary Metals’ Gold Fixed Income opportunities, your gold works for you, earning you income and compounding our ounces over time.
- [Silver Price Forecast | Earn interest on silver](https://www.monetary-metals.com/spf/) - With Monetary Metals you get paid in physical ounces of silver, so you can watch your total ounces grow and compound year after year.
- [Secure Estate Solutions | Earn interest on gold, paid in gold](https://www.monetary-metals.com/ses/) - Stop trying to save and earn in dollars. Start saving and earning in gold and silver, and watch your total ounces compound and grow over time.
- [Rob Carson | Earn interest on gold](https://www.monetary-metals.com/carson/) - Rob loves calling out today’s absurd nonsense, lies, and corruption, and highlighting the work that other patriots are doing so you can benefit.
- [Retipster | Earn interest on gold, paid in gold](https://www.monetary-metals.com/retipster/) - If you like the price appreciation and passive income opportunities real estate offers, then we think you're going to love what Monetary Metals' products.
- [POF | Earn interest on gold, paid in gold](https://www.monetary-metals.com/pof/) - With Monetary Metals' Gold Fixed Income opportunities, you own physical gold that works for you, earning you passive income every month that's paid in ounces!
- [Paul Belanger | Earn interest on gold, paid in gold](https://www.monetary-metals.com/belangp/) - Earn interest in our lease program, paid in physical gold and silver. Higher yields are offered in Gold Bonds, which are available to accredited investors only.
- [Money Act | Earn interest on gold, paid in gold](https://www.monetary-metals.com/money-act/) - You can earn passive income, paid in physical gold and silver. Higher yields are offered in Gold Bonds, which are available to accredited investors only.
- [Mike Shedlock | Earn interest on gold, paid in gold](https://www.monetary-metals.com/mish-shedlock/) - You can earn passive income, paid in physical gold and silver. Higher yields are offered in Gold Bonds, which are available to accredited investors only.
- [Jay Taylor | Earn interest on gold, paid in gold](https://www.monetary-metals.com/jay-taylor-media/) - Earn interest in our lease program, paid in physical gold and silver. Higher yields are offered in Gold Bonds, which are available to accredited investors only.
- [Ian Heimbegner | Earn interest on gold, paid in gold](https://www.monetary-metals.com/coachh/) - I’m interested in learning more Earn a yield on your metals! Real estate can be a great vehicle for building wealth. It offers price appreciation, and the opportunity for passive income through rental properties. Well, if you like price appreciation and income, then we think you’re going to love what Monetary Metals has to offer.
- [High Yield | Earn a yield on gold, paid in gold](https://www.monetary-metals.com/high-yield-investor/) - Stop trying to save and earn in dollars. Start saving and earning in gold and silver, and watch your total ounces compound and grow over time.
- [Good Morning Liberty | Earn interest on gold, paid in gold](https://www.monetary-metals.com/gml/) - Tired of having the government in charge of your financial future? If you’re in the Fed Haters Club then why would you try to grow your wealth in dollars?
- [Golden Meadow | Earn interest on gold and silver](https://www.monetary-metals.com/gm/) - Monetary Metals offers you the ability to earn regular monthly interest income by leasing precious metals to qualified businesses in the industry.
- [Golden Horizon | Earn interest on gold, paid in gold](https://www.monetary-metals.com/ghrp/) - Monetary Metals offers you the ability to earn regular monthly interest income by leasing precious metals to qualified businesses in the industry.
- [Gold Price Forecast | Earn interest on gold, paid in gold](https://www.monetary-metals.com/gpf/) - With Monetary Metals you get paid in physical ounces of metal, so you can watch your total ounces grow and compound year after year.
- [Glint Compass | Earn passive income in gold, paid in gold](https://www.monetary-metals.com/glint-compass/) - At Monetary Metals you can earn income in physical gold and silver by leasing your metal to qualified precious metals companies in our Gold Yield Marketplace™.
- [Dustin Heiner | Earn passive income, paid in gold](https://www.monetary-metals.com/mpi/) - Stop trying to save and earn in dollars. Start saving and earning in gold and silver, and watch your total ounces compound and grow over time.
- [Dominic Frisby | Earn interest on gold](https://www.monetary-metals.com/frisby-2/) - You can earn 2-4% in our lease program, paid in physical gold and silver. Higher yields are offered in Gold Bonds, for accredited investors only.
- [Citizens for Sound Money | Earn interest on gold, paid in gold](https://www.monetary-metals.com/c4sm/) - Stop trying to save and earn in dollars. Start saving and earning in gold and silver, and watch your total ounces compound and grow over time.
- [Buzztime | Earn interest on gold, paid in gold](https://www.monetary-metals.com/buzz/) - Monetary Metals offers you the ability to earn regular monthly interest income by leasing precious metals to qualified businesses in the industry.
- [Babylon Bee | Earn interest on gold, paid in gold](https://www.monetary-metals.com/bee/) - With Monetary Metals you get paid in physical ounces of metal, so you can watch your total ounces grow and compound year after year.
- [Bigger Pockets | Earn gold passive income](https://www.monetary-metals.com/big/) - With Monetary Metals you get paid in physical ounces of metal, so you can watch your total ounces grow and compound year after year.
- [Insights](https://www.monetary-metals.com/insights/) - We dive into economics, financial analysis, monetary policy, investing & precious metals via articles, white papers, podcasts, interviews & more.
- [Thank you | No hero](https://www.monetary-metals.com/thank-you/) - Thank you! You can expect to hear from us shortly. Please feel free to check out our latest articles Here are our top FAQ on earning interest on gold and silver. How is Monetary Metals able to pay interest on gold and silver? ✓ Our ability to pay interest on gold and silver deposits comes
- [Gold fundamentals](https://www.monetary-metals.com/data-science-charts/gold-fundamentals/) - Gold fundamentals Monetary Metals’ Fundamental price seeks to back out speculative forces in the gold market to reveal the underlying physical supply and demand picture. The degree of divergence between the market price of gold and the Fundamental price is, in our opinion, an indication of market exuberance or pessimism. The Fundamental price is computed
- [Privacy policy](https://www.monetary-metals.com/privacy-policy/) - Monetary Metals & Co., privacy policy and disclaimer This privacy policy discloses the privacy practices for Monetary Metals & Co and affiliated companies. This privacy policy applies to information collected by us on our websites and by other means. It will notify you of the following: what personally identifiable information is collected from you, how
- [Terms and Conditions](https://www.monetary-metals.com/terms-and-conditions/) - Monetary Metals & Co., terms and conditions of use By accessing this web site, you are agreeing to be bound by these web site Terms and Conditions of Use, and all applicable laws and regulations. If you do not agree with any of these terms, you are prohibited from using or accessing this web site.
- [How NOT to think about Gold](https://www.monetary-metals.com/how-not-to-think-about-gold-lp/) - Our market analysis treats gold & silver with the monetary care they deserve. It’s our remedy for all the wrong ways to think about gold. Get the free guide!
- [Zombie Firms Research and Impact](https://www.monetary-metals.com/zombie-firms-research/) - Zombie firms are an outgrowth of the falling interest rate environment created by the Federal Reserve, talking with top zombie experts from around the world.
- [Silver Bullion TV: Basel III - Not Good For Gold](https://www.monetary-metals.com/silver-bullion-tv-basel-iii-not-good-for-gold/) - Silver Bullion TV: Basel III - Not Good For Gold In June 2019, Monetary Metals CEO Keith Weiner joined SBTV's Patrick Vierra at The Safe House gold & silver vault in Singapore to discuss the real impact of the Basel III reclassification of gold as a Tier 1 asset. This 6 minute excerpt begins at

## Articles

- [Where do gold and silver prices go from here?](https://www.monetary-metals.com/insights/articles/where-do-gold-and-silver-prices-go-from-here/) - We’re at a crossroads in gold and silver prices, and the economy at large. Here’s our unique take on where gold and silver prices go from here.
- [Transitory Inflation and Useless Ingredients](https://www.monetary-metals.com/insights/articles/transitory-inflation-useless-ingredients/) - Friedman was wrong. Inflation is not always and everywhere a monetary phenomenon. Useless ingredients are the unnamed force behind the UK's Energy Crisis.
- [Silver Rorschach Test](https://www.monetary-metals.com/insights/articles/silver-rorschach-test/) - On Friday, August 6, the price of silver fell over a dollar/oz. Why did it fall? We provide forensic analysis, using our silver basis and cobasis indicators.
- [Silver Crash Makes Silver Trash?](https://www.monetary-metals.com/insights/articles/silver-crash-makes-silver-trash/) - The silver price fell over 4% yesterday. Was it “the cartel” shorting with paper futures? Or did physical metal get dumped on the market? Find the answer here.
- [Part II of Ukraine and Inflation, Can Russia Enact a Gold Standard?](https://www.monetary-metals.com/insights/articles/can-russia-enact-gold-standard/) - Does Russia have enough gold to declare a gold standard? Let’s first address the question of would they even want to, and how the world would react.
- [Moving from Gold-Redeemable to Irredeemable Currency](https://www.monetary-metals.com/insights/articles/moving-from-gold-redeemable-to-irredeemable-currency/) - The Fed is the issuer of America’s and the world’s reserve currency. But, what gives it value? Fed apologists and critics imbue it with almost a mystical power.
- [Lower Prices, Stronger Fundamentals](https://www.monetary-metals.com/insights/articles/lower-prices-stronger-fundamentals/) - Gold and silver prices fell last week, but their fundamentals strengthened. In this week’s report, we peek under the hood to see how strong the fundamentals are
- [Gold Price Smashdown vs Gold on Fire](https://www.monetary-metals.com/insights/articles/gold-price-smashdown-vs-gold-on-fire/) - The gold price dropped precipitously on Sunday evening, August 8. Or it was smashed down. We look at the data to see what happened to the price of gold.
- [Gold and the Death Blow to Crypto](https://www.monetary-metals.com/insights/articles/matthew-piepenburg/) - CEO of Monetary Metals Keith Weiner sits down with Matthew Piepenburg of Matterhorn Asset Management to discuss gold, fiat and crypto.
- [3 analogies to help explain gold leasing](https://www.monetary-metals.com/insights/articles/3-analogies-to-help-explain-gold-leasing/) - How does a gold lease work? Three real-world analogies help explain how you can unlock your gold’s potential to earn income the same way other asset owners do.
- [Gold Outlook Report 2026 Brief](https://www.monetary-metals.com/insights/articles/gold-outlook-report-2026-brief/) - The Monetary Metals 2026 Gold Outlook Report is here. We share our predictions on the gold and silver markets for the coming year and how to prepare.
- [Gold at all-time highs: should I buy?](https://www.monetary-metals.com/insights/articles/gold-at-all-time-highs-should-i-buy/) - Sell gold and lock in your gains or to buy more? Here's where we see gold prices going in 2026 and why our outlook has predicted gold’s major rally so far.
- [CME’s margin shift is pushing the gold market toward leasing](https://www.monetary-metals.com/insights/articles/cmes-margin-shift-is-pushing-the-gold-market-toward-leasing/) - CME’s shift to percentage-based margins means hedging gold and silver now requires more capital as prices rise, pushing metal businesses toward metal leasing.
- [Gold leasing is coming to Türkiye](https://www.monetary-metals.com/insights/articles/gold-leasing-is-coming-to-turkiye/) - Monetary Metals’ recently announced joint venture with Aga One is the first step in mobilizing the estimated 5,000 tons of gold held by Turkish households
- [Zero Interest Rate - Bad for Everyone](https://www.monetary-metals.com/insights/articles/zero-interest-rate-bad-for-everyone/) - Zero Interest Rate Policy isn't just bad for savers and those living on a fixed income, in other words the people. It is also bad for banks. Net Interest Margin, which should be a major profit center at a bank, if not the profit center, is negative at JP Morgan. JPM Beats Thanks To Ongoing
- [Wow! Just wow!](https://www.monetary-metals.com/insights/articles/wow-just-wow/) - This is pretty technical, but in essence X owns junk bonds, so he swaps them for Treasury bonds with a promise to un-swap later. Then X has good collateral to post to buy another asset. Y owns Treasury bonds, so he swaps them for junk bonds. Then he has yield (the 10-year Treasury pays less
- [Would Gold Bugs Make Sense?](https://www.monetary-metals.com/insights/articles/would-gold-bugs-make-sense/) - It Wouldn't Make Sense Not to A gold bug argues it would not make sense for the Fed not to manipulate the gold price: If gold isn't suppressed, then the Fed would be leaving it to trade in an open and transparent market Banks can short-sell with impunity because if they take losses they can
- [Won’t Get Fooled Again, Report 17 Jan, 2016](https://www.monetary-metals.com/insights/articles/wont-get-fooled-again-report-17-jan-2016/) - There is a great lyric in Won’t Get Fooled Again by The Who: Then I'll get on my knees and pray We don't get fooled again Remember last week, when the price of silver spiked? On Thursday that week, the price was moving sideways around $14. Then around 5am (Arizona time), the price began to
- [Wile E Coyote Gravity Report 23 October, 2016](https://www.monetary-metals.com/insights/articles/wile-e-coyote-gravity-report-23-october-2016/) - Another week without much major price action, gold +$16 and silver +$0.12. At least if you look at the closing prices. However on Monday after New York market hours, there was quite a spike in silver. The close was $17.46. The price was up 10 cents by midnight in New York. By the morning before
- [Worried You Might Buy Bitcoin or Gold, Report 5 Mar, 2017](https://www.monetary-metals.com/insights/articles/worried-you-might-buy-bitcoin-or-gold-report-5-mar-2017/) - The price of gold has been rising, but perhaps not enough to suit the hot money. Meanwhile, the price of bitcoin has shot up even faster. From $412, one year ago, to $1290 on Friday, it has gained over 200% (and, unlike gold, we can say that bitcoin went up—it’s a speculative asset that goes
- [Will Gold or Silver Pay the Higher Interest Rate?](https://www.monetary-metals.com/insights/articles/will-gold-or-silver-pay-the-higher-interest-rate/) - This question is no longer moot. As the world moves inexorably towards the use of metallic money, interest on gold and silver will return with it. This raises an important question. Which interest rate will be higher? The Wrong Approach It’s instructive to explore a wrong, but popular, view. I call it the purchasing power
- [Yellen Said Something, Gold & Silver Update 20 Sep 2017](https://www.monetary-metals.com/insights/articles/yellen-said-something-gold-silver-update-20-sep-2017/) - Fed Char Janet Yellen said something and that set off an avalanche of selling but then it was buy the dip! But what really happened to the metals' fundamentals?
- [You Can’t Eat Gold, Report 14 Oct 2018](https://www.monetary-metals.com/insights/articles/you-cant-eat-gold-report-14-oct-2018/) - Food is good for eating, and gold is not. So what? Food is not good as money. So what’s money?
- [Wizard’s First Rule, Report 4 Nov 2018](https://www.monetary-metals.com/insights/articles/wizards-first-rule-report-4-nov-2018/) - Do you believe that the dollar will lose reserve status, collapse relative to other currencies, and hyperinflate soon?
- [Widening Bid-Ask Spreads, Gold and Silver Market Report 17 February](https://www.monetary-metals.com/insights/articles/widening-bid-ask-spreads-gold-and-silver-market-report-17-february/) - widening bid-ask spreads in the spot market reverses the trend of 2018.
- [Yes, Virginia, There Is An Alternative, 11 November](https://www.monetary-metals.com/insights/articles/there-is-an-alternative/) - Currently, investors would rather own stocks than bonds, and damn the torpedoes along with the risks. We disagree.
- [Wrong Measurement, Wrong Macro Call](https://www.monetary-metals.com/insights/articles/wrong-measurement-wrong-macro-call/) - The difference between the measurement paradigm that we propose, and the mainstream, is not merely ideological, pedagogical, tendentious, or pedantic.
- [Will Interest Rate Hikes Fix Inflation?](https://www.monetary-metals.com/insights/articles/will-interest-rate-hikes-fix-inflation/) - Everyone is asking if the Fed’s interest rate hikes will be enough to curb inflation. The question's not even wrong. Read on to learn what will really happen
- [Why Can't We All Just Net Along](https://www.monetary-metals.com/insights/articles/why-cant-we-all-just-net-along-2/) - Every European country owes money to other European countries. This creates a web of cross-linked debt. Why don’t they just cancel everything but the net debt?
- [Why does the “Paper Gold” Price Track the Physical Gold Price? Part I](https://www.monetary-metals.com/insights/articles/why-does-the-paper-gold-price-track-the-physical-gold-price-part-i/) - It’s curious, isn’t it? So-called “paper gold” (a futures contract) has a price that is not only very close to physical gold, but it remains locked to it. This is despite the fact that “paper gold” is reviled in the gold community. I am writing this on Sunday evening with little liquidity in the market,
- [Why does the “Paper Gold” Price Track the Physical Gold Price? Part II](https://www.monetary-metals.com/insights/articles/why-does-the-paper-gold-price-track-the-physical-gold-price-part-ii/) - In Part I of this article, we looked at arbitrage between the physical metal market and the futures market. We saw that there are arbitrageurs who straddle the spread between these markets, who don’t care about price but about the difference between two prices. They seek to profit, not from a change to the gold price,
- [Why does the “Paper Gold” Price Track the Physical Gold Price? Postscript](https://www.monetary-metals.com/insights/articles/644-2/) - This article is a follow-up to Part II. I expound upon a point I touched on, and also address some questions raised by readers. First, let’s look at an update of the open interest numbers as of Feb 6. Gold’s open interest actually declined further. Next, here is an update of the bases. The gold
- [Why Duration Mismatch Will Always Fail](https://www.monetary-metals.com/insights/articles/why-duration-mismatch-will-always-fail/) - By taking demand deposits and buying long bonds, the banks distort the cost of money. They send a false signal to entrepreneurs that higher-order projects are...
- [Why is Gold Draining out of COMEX Warehouses?](https://www.monetary-metals.com/insights/articles/why-is-gold-draining-out-of-comex-warehouses/) - Gold conspiracy theorists have a new bogeyman. Inventories of gold bars held in the COMEX warehouses are falling. This fact is offered to support the stale allegations of “fractional gold” and “manipulation”. They have been predicting a “signal failure” that is coming any day now, like the Great Pumpkin in the Charlie Brown Halloween special.
- [Why Was China Carrying Gold?](https://www.monetary-metals.com/insights/articles/why-was-china-carrying-gold/) - Zero Hedge has run an excellent article explaining the use of commodities, beginning with copper, to work around the Chinese government’s imposed capital controls[1]. Capital controls are intended to prevent arbitrage between the dollar interest rate and the yuan interest rate, which is much higher. To keep this gap open, and prevent the arbitrage—aka hot
- [Why is the Gold Standard Urgent?](https://www.monetary-metals.com/insights/articles/why-is-the-gold-standard-urgent/) - After President Nixon’s gold default in 1971, many people have advocated a return to the gold standard. One argument has been repeated: consumer prices are rising. While this is true, it wasn’t compelling in the 1970’s and it certainly doesn’t fire people up today. Rising prices—what most people think of as inflation—is a dead-end, politically.
- [Why Are We Here?](https://www.monetary-metals.com/insights/articles/why-are-we-here/) - I don't mean the meaning of life, the universe and everything. I mean why are we in the gold market? This week and especially today, I have seen so many emails, messages, and articles with the same theme. "Woe is me." Seriously? The price of gold dropped $100 in a couple of months, and it's like
- [Why Is Gold Becoming Scarcer, 16 Aug 2015](https://www.monetary-metals.com/insights/articles/why-is-gold-becoming-scarcer-16-aug-2015/) - For quite a while, we have been talking about scarcity in gold. The cobasis for both October and December is positive. These contracts are backwardated. The cobasis for the February 2016 contract is not far from backwardation. The gold market is tight. Why? Let’s explore. Part of the matter is that the price has fallen.
- [Where Then Will Silver Go, Report 12 June, 2016](https://www.monetary-metals.com/insights/articles/where-then-will-silver-go-report-12-june-2016/) - The price of gold bumped up thirty bucks, and that of silver about one buck. Is this liftoff—when the dollar falls sharply, and the price of each metal in dollar terms skyrockets? Is this the denoument when the gold bug does not get rich, because although his net worth measured in dollar is massively up,
- [Why Did Silver Fall, Report 12 Mar, 2017](https://www.monetary-metals.com/insights/articles/why-did-silver-fall-report-12-mar-2017/) - The question on the lips of everyone who plans to exchange his metal for dollars—widely thought to be money—is why did silver go down? The price of silver in dollar terms dropped from about 18 bucks to about 17, or about 5 percent. The facile answer is manipulation. With no need of evidence—indeed with no
- [Who Would Invest in a Gold Bond?](https://www.monetary-metals.com/insights/articles/who-would-invest-in-a-gold-bond/) - Nevada should sell gold bonds, to reduce its risk and get out of debt at a discount. And attract capital from all over the world.
- [Why Am I Fighting for the Gold Standard?](https://www.monetary-metals.com/insights/articles/why-am-i-fighting-for-the-gold-standard/) - I don’t know if I would choose to be alive after collapse. That is, even assuming I would survive the events immediately after—I expect more than 90% to die when energy and food production come to a halt. I fight to preserve civilization.
- [Why the Fed Denied the Narrow Bank, Report 9 Sep 2018](https://www.monetary-metals.com/insights/articles/why-the-fed-denied-the-narrow-bank-report-9-sep-2018/) - The Narrow Bank would mess up the Fed’s brittle central plan for the economy.
- [Why Are Wages So Low, Report 23 Sep 2018](https://www.monetary-metals.com/insights/articles/why-are-wages-so-low-report-23-sep-2018/) - Wages have been falling since at least 1965. The Left makes the wrong diagnosis and the Right mostly denies it. Here’s why.
- [Why Do Investors Tolerate It, Report 17 Dec 2018](https://www.monetary-metals.com/insights/articles/why-do-investors-tolerate-it-report-17-dec-2018/) - It takes two to tango, borrowers who want easy credit and lenders who give it.
- [Who Knows the Right Interest Rate?](https://www.monetary-metals.com/insights/articles/who-knows-the-right-interest-rate-report-3-feb-2019/) - We have shown that when the central planner alters either the value of the currency unit or the interest rate that unrecognized losses of capital occur.
- [Why Are People Now Selling Their Silver? Report 15 Sep](https://www.monetary-metals.com/insights/articles/why-are-people-now-selling-their-silver-report-15-sep/) - Even if the dollar loses value at a constant rate, market participants may not agree and can overshoot and then correct.
- [Why These Gold Standardites Are Wrong, 13 October](https://www.monetary-metals.com/insights/articles/why-these-gold-standardites-are-wrong/) - Oh, the challenges in accurately predicting inflation – especially if you apply a gold standard to it. Plus, a $2M, 1700ft newly-improved suburban street in TX.
- [Where Does Your Profit Come From?](https://www.monetary-metals.com/insights/articles/where-does-your-profit-come-from/) - It matters where your profit comes from. Investment is not the same as speculation. Dividends are not the same as capital gains.
- [Why Isn’t Gold Going Up with Inflation?](https://www.monetary-metals.com/insights/articles/why-isnt-gold-going-up-with-inflation/) - Why hasn't the price of gold risen along with other commodities because of inflation? The answer depends on what causes rising prices and inflation.
- [Why a Yield on Gold Matters](https://www.monetary-metals.com/insights/articles/why-yield-on-gold-matters/) - In a world where yield is disappearing, real interest rates are negative, and speculative churn is rampant, why does a yield on gold matter?
- [When Gold Backwardation Becomes Permanent](https://www.monetary-metals.com/insights/articles/when-gold-backwardation-becomes-permanent/) - Permanent gold backwardation leading to the withdrawal of the gold bid on the dollar is the inevitable result of the debt collapse.
- [What Is Pushing Down the Gold Price?](https://www.monetary-metals.com/insights/articles/what-is-pushing-down-the-gold-price/) - Let’s start with a question. If you knew that a casino was cheating, if you saw that there was a magnet under the roulette table, would you gamble there?
- [What is Pushing Down the Gold Price: Part II](https://www.monetary-metals.com/insights/articles/what-is-pushing-down-the-gold-price-part-ii/) - The system, based as it is on high and rising leverage, low and falling rates, borrowing short to lend long, and financial engineering, has become very brittle.
- [What is the Meaning of GLD Gold Outflows?](https://www.monetary-metals.com/insights/articles/gld_outflows/) - A quick glance at the data for ounces held by each Exchange Traded Fund (ETF) shows that right after the crash of 2008, ounces began to pour into GLD. Ignoring a little jitter, there was no significant outflow until 2013. GLD has lost over 20% of its metal so far this year, dropping from about
- [What Silver Rocket? Report 13 Dec, 2015](https://www.monetary-metals.com/insights/articles/what-silver-rocket-report-13-dec-2015/) - “That [half a dollar of buying] frenzy was not stackers lining up to buy phyz. It was speculators buying paper. Why does that matter? Speculators, who typically use leverage, can’t hold the market price against the tide of the hoarders. They can push for a while, but they have to close their positions sooner or
- [What Effect Interest Rates](https://www.monetary-metals.com/insights/articles/what-effect-interest-rates/) - Soggy Dollars There's this article, saying rising rates are good for gold. It repeats two old errors: gold goes up, and things that cause it (e.g. a collapsing paper currency) are "good". We have recently been emphasizing that interest does not correlate well with the price of gold. If you want to speculate on the
- [What makes gold good money](https://www.monetary-metals.com/insights/articles/what-makes-gold-good-money/) - People say that gold is rare this is why it makes good money. To make an analogy to the porridge in Goldilocks, the temperature could not be too cold or too hot. If gold were too common, or too rare, it would not work as money. Think of sand, which is too common, or blue
- [What Is the Gold Fundamental? Report 25 June, 2017](https://www.monetary-metals.com/insights/articles/what-is-the-gold-fundamental-report-25-june-2017/) - Monetary Metals' views on Steve Saville's fundamental gold model which is based on (1) the real interest rate, (2) the yield curve, (3) credit spreads, (4) the relative strength of the banking sector, (5) the US dollar’s exchange rate, (6) commodity prices, and (7) the bond/dollar ratio.
- [What Really Happened When Gold Crashed, Monday June 26?](https://www.monetary-metals.com/insights/articles/what-really-happened-when-gold-crashed-monday-june-26/) - Let’s establish three facts up front. One, the volume of contracts traded was not “millions”. Two, this did not occur while “everyone” was sleeping. Three, there was no single large futures trade that “smashed” the price but a large number of smaller trades, with the largest trade being 296 contracts (close to 1 ton or $36 million).
- [What Will The Coming Gold Standard Look Like](https://www.monetary-metals.com/insights/articles/what-will-the-coming-gold-standard-look-like/) - Two pseudo gold standards. What do people need from a monetary system? What is the role of the banker? Why does gold circulate or not circulate? A working definition of the gold standard. How do we get from here to there?
- [What Made Gold Go Up, Update 20 Oct 2017](https://www.monetary-metals.com/insights/articles/what-made-gold-go-up-update-20-oct-2017/) - What caused gold & silver to go up on the 19th? To answer this we first have to realize that futures and spot two different markets, with two different prices.
- [What’s the Point, Gold and Silver Report 3 Dec 2017](https://www.monetary-metals.com/insights/articles/whats-the-point-gold-and-silver-report-3-dec-2017/) - The monetary system is moving inexorably towards Armageddon and there is no single better indicator than the gold basis.
- [What They Don’t Want You to Know about Prices](https://www.monetary-metals.com/insights/articles/what-they-dont-want-you-to-know-about-prices-report-10-feb/) - It’s one thing to argue that the central planners haven’t got a metric to help them know the right rate. It’s another to argue that no such metric exists...
- [What Gets Measures Gets Improved, Report 23 June](https://www.monetary-metals.com/insights/articles/what-gets-measures-gets-improved-report-23-june/) - If you break a window, GDP goes up. Is this a recommendation to break windows or an indictment of GDP?
- [What’s the Price of Gold in the Gold Standard, Report 10 Nov](https://www.monetary-metals.com/insights/articles/whats-the-price-of-gold-in-the-gold-standard-report-10-nov/) - There is a widespread confusion between price of gold today vs. the standardized weight of gold that was the dollar in 1792.
- [When Is a Capital Gain Capital Consumption? Market Report, 25 May](https://www.monetary-metals.com/insights/articles/when-is-a-capital-gain-capital-consumption-market-report-25-may/) - There is an important difference between when the price of an asset rises due to an increase in value vs when it rises due to a drop in the interest rate.
- [What's the Price of Gold? It Depends.](https://www.monetary-metals.com/insights/articles/whats-the-price-of-gold-it-depends/) - Spot? COMEX? Retail? How does the price of gold vary by market? And why?
- [What Will Reddit Do With Silver? 29 Jan](https://www.monetary-metals.com/insights/articles/what-will-reddit-do-with-silver-29-jan/) - A group of individual investors on Reddit drove up GameStop’s stock price this week, and now they’ve set their sights on silver. Where will this go?
- [What's The Real Purpose of Money?](https://www.monetary-metals.com/insights/articles/whats-the-real-purpose-of-money/) - Once upon a time gold was commonly used to finance productive enterprise. Unfortunately, 20th century events put that practice on a hiatus. But it’s back!
- [What the Heck Just Happened to the Price of Gold and Silver?!](https://www.monetary-metals.com/insights/articles/what-the-heck-just-happened-to-gold-and-silver/) - Last week, the price of gold fell $140/oz, and the price of silver nearly $2/oz. What happened? We break down the dramatic price moves in our latest report.
- [What Trick did Tricky Dicky Pull 50 Years Ago Today?](https://www.monetary-metals.com/insights/articles/what-trick-did-tricky-dicky-pull-50-years-ago-today/) - On August 15, 1971, "Tricky Dicky" decreed that the US dollar would no longer be redeemable for the gold owed, even to foreign governments. Today, it's worse.
- [What's In Your Loan?](https://www.monetary-metals.com/insights/articles/whats-in-your-loan/) - A healthy monetary system must be able to have stability in lending and borrowing, features which a Gold Standard provides, and Bitcoin and other systems lack.
- [Videos of my lecture "Irredeemable Currency vs. Gold"](https://www.monetary-metals.com/insights/articles/videos-of-my-lecture-irredeemable-currency-vs-gold/) - I gave this talk at the Chicago Objectivist Society MiniCon Sep 4, 2011. Here is the full set of 9 videos on youtube for my presentation plus Q&A at the end, posted on this site to archive the links. Irredeemable currency vs gold – 1_9 introduction.wmv Irredeemable currency vs gold – 2_9 the origin of
- [What Drives the Price of Gold and Silver?](https://www.monetary-metals.com/insights/articles/what-drives-the-price-of-gold-and-silver/) - If there is a credible rumor that the Fed is planning to further extend its “Quantitative Easing”, how would you expect the monetary metals to react? Typically, the gold price would rise and the silver price would rise even more. The question is why. Traders read the headlines and they know how the price “should”
- [U.S. Debt Repudiation](https://www.monetary-metals.com/insights/articles/u-s-debt-repudiation/) - John P. Cochran writes on Zero Hedge about Murray Rothbard's propsal that the government default on its debt: Rothbard’s recommendation: “I propose, then, a seemingly drastic but actually far less destructive way of paying off the public debt at a single blow: outright debt repudiation.” Repudiation is not only a sound economic solution to our
- [U.S. Deficit / GDP](https://www.monetary-metals.com/insights/articles/u-s-deficit-gdp/) - A group called "Being Liberal" posted the following graph to Facebook purporting showing how deficit as a proportion of GDP has fallen from 10% to 4%. The caption implies two things: 1) most Americans are simply ignorant if they think that there is a borrowing or debt problem 2) the deficit is falling (the caption
- [What Do Americans Know About Money?](https://www.monetary-metals.com/insights/articles/what-do-americans-know-about-money/) - This video has been submitted into the Amagi Metals video contest www.amagimetals.com
- [What Drives Negative GOFO and Temporary Gold Backwardation?](https://www.monetary-metals.com/insights/articles/what-drives-negative-gofo-and-temporary-gold-backwardation/) - I coined the term temporary backwardation in March of last year. This is what I said: But in the “new normal”, post 2008, the expiring gold or silver future often flirts with or even slips into backwardation for a period before expiry. This is anything but normal. It’s not a sign of imminent financial Armageddon,
- [They’re Coming to Take Away Your Cash](https://www.monetary-metals.com/insights/articles/theyre-coming-to-take-away-your-cash/) - The stories are all over the Internet. Governments are forcing us into a cashless society. Supposedly the pretext is terrorism, and the real reason is to take more control. No doubt more power appeals to politicians, and banning cash seems like the next step after mandatory reporting of cash transactions. However, I think there is
- [Trust and Oil](https://www.monetary-metals.com/insights/articles/trust-and-oil/) - Soggy Dollars First, there's a word for someone who buys gold in the hope its price will rise. This word is not investor, but speculator. Second, statistical anomalies cannot be asserted as proof of manipulation. Also, the article is giving the reader the blueprint for a no-brainer way to profit by the mistakes of the
- [To Frexit or Not to Frexit, Report 23 April, 2017](https://www.monetary-metals.com/insights/articles/to-frexit-or-not-to-frexit-report-23-april-2017/) - This was also a holiday-shorted week. As we write this, the big news comes from the election in France. The leading candidate is a banker named Emmanuel Macron, with about 24% of the vote in a 4-candidate race. The anti-euro Marine Le Pen came in second with just over 21%. From the sharp rally in
- [Thoughtful Disagreement with Ted Butler](https://www.monetary-metals.com/insights/articles/thoughtful-disagreement-with-ted-butler/) - Keith Weiner responds to Ted Butler's challenge for someone to thoughtfully disagree with his claim that silver prices are set by a few large speculators.
- [We Need a Free Market in Interest Rates](https://www.monetary-metals.com/insights/articles/we-need-a-free-market-in-interest-rates/) - We don't have a free market in interest rates. Monetary Metals is developing one.
- [Useless But Not Worthless, Report 21 Oct 2018](https://www.monetary-metals.com/insights/articles/useless-but-not-worthless-report-21-oct-2018/) - A major first world currency has been rendered useless, but not (yet) worthless.
- [What Can Kill a Useless Currency?](https://www.monetary-metals.com/insights/articles/what-can-kill-a-useless-currency-report-28-oct-2018/) - It’s not a matter that people will “get woke”, there are several simple mechanisms that will lead to the death of a currency with negative interest.
- [What Causes Loss of Purchasing Power, Report 7 Apr](https://www.monetary-metals.com/insights/articles/what-causes-loss-of-purchasing-power-report-7-apr/) - The loss of purchasing power can be counterintuitive.
- [Treasury Bond Backwardation, Report 22 Sep](https://www.monetary-metals.com/insights/articles/treasury-bond-backwardation-report-22-sep/) - A crisis occurred this week in the credit markets. Mainstream media is saying don’t worry, but what happened?
- [Wealth Accumulation Is Becoming Impossible, Report 20 Oct](https://www.monetary-metals.com/insights/articles/wealth-accumulation-is-becoming-impossible-report-20-oct/) - People use rising share prices as a substitute for earning interest, but it’s not the same.
- [Warren Buffett Shorts The Economy, 18 August](https://www.monetary-metals.com/insights/articles/warren-buffett-shorts-the-economy-18-august/) - While Buffett’s 180 on gold is exciting to folks in our circle, it’s also a warning of things to come.
- [Ukraine and the Next Wave of Inflation, Part I](https://www.monetary-metals.com/insights/articles/ukraine-next-wave-of-inflation-part-i/) - In Part I of this series we analyze how the fallout from the invasion of Ukraine will increase price inflation, but not in the way most people think.
- [This is Not The Silver Breakout You're Looking For!](https://www.monetary-metals.com/insights/articles/this-is-not-the-silver-breakout-youre-looking-for/) - Silver buyers beware. This is not the silver breakout you're looking for. As the price of silver has risen from $24 to over $27, we look at who's buying.
- [Time for a Silver Trade?](https://www.monetary-metals.com/insights/articles/time-for-silver-trade/) - Is now a good time for a silver trade? We look at how has the Fed’s interest rate hike, and future hikes, have changed the fundamentals for gold, and silver.
- [What Caused the Collapse of Silicon Valley Bank?](https://www.monetary-metals.com/insights/articles/the-collapse-of-silicon-valley-bank/) - The root cause of the collapse of Silicon Valley Bank was not stupidity, insufficient regulation, or corruption at the rating agencies. The root cause is...
- [The Standard and Poor Downgrade of Uncle Sam](https://www.monetary-metals.com/insights/articles/the-standard-poor-downgrade-of-uncle-sam/) - If the S&P rating was intended to account for the value of the currency, then how could S&P give the US an investment grade at any time under any circumstances?
- [The Trillion Dollar Coin](https://www.monetary-metals.com/insights/articles/the-trillion-dollar-coin/) - There has been much buzz in the past few days about a truly horrible idea. Instead of having to negotiate with Congress to raise the debt ceiling so the Treasury Department can sell more bonds to pay for more spending, why not just mint a trillion-dollar platinum coin? This coin would contain one ounce of
- [The Ten Minute Gold Standard](https://www.monetary-metals.com/insights/articles/the-ten-minute-gold-standard/) - Far too many people believe that gold serves no useful purpose. I am therefore publishing this response to The 10 Minute Gold Standard: It’s Much Easier than You Think by Nathan Lewis. Mr. Lewis, a professed advocate of the gold standard, argues that even if we have a “gold standard”, we don’t need actual gold.
- [The Quantitative Beatings will Continue Until Economy Improves](https://www.monetary-metals.com/insights/articles/the-quantitative-beatings-will-continue-until-economy-improves/) - The Fed’s purpose, when it comes down to it, is to buy bonds. Under their various “Quantitative Easing” (QE) programs, they sure have bought a lot of bonds. This pushes up the price of the bonds. Since the yield is basically the inverse of the bond price, this means the rate of interest falls. This
- [The Swiss Franc Will Collapse](https://www.monetary-metals.com/insights/articles/the-swiss-franc-will-collapse/) - I have worked to keep this piece readable, and as brief as possible. My grave diagnosis demands the evidence and reasoning to support it. One cannot explain the collapse of this currency with the conventional view. “They will print money to infinity,” may be popular but it’s not accurate. The coming destruction has nothing to
- [They Broke the Silver Fix](https://www.monetary-metals.com/insights/articles/they-broke-the-silver-fix/) - Part I Last Thursday, January 28, there was a flash crash on the price chart for silver. Here is a graph of the price action. The Price of Silver, Jan 28 (All times GMT) If you read more about it, you will see that there was an irregularity around the silver fix. At the time,
- [They Broke the Silver Fix (Part I)](https://www.monetary-metals.com/insights/articles/they-broke-the-silver-fix-part-i/) - Last Thursday, January 28, there was a flash crash on the price chart for silver. Here is a graph of the price action. The Price of Silver, Jan 28 (All times GMT) If you read more about it, you will see that there was an irregularity around the silver fix. At the time, the spot
- [The Silver Blaze Report, 14 Feb, 2016](https://www.monetary-metals.com/insights/articles/the-silver-blaze-report-14-feb-2016/) - Again, we had another big drop in the dollar this week. No, we don’t mean against the dollar derivatives known as the euro, pound, etc. We mean by the only standard capable of measuring it: gold. The dollar fell 1.4 milligrams, to 25.1mg gold. Or, if you prefer, 0.1 grams of silver. For some reason,
- [The Trump Weak Dollar Report, 22 Jan, 2017](https://www.monetary-metals.com/insights/articles/the-trump-weak-dollar-report-22-jan-2017/) - The action favored bettors this holiday-shortened week (Monday was Martin Luther King day in the US), with the price of gold up 13 bucks and silver up 26 cents. We noticed a worrisome remark by newly inaugurated President Trump. The strong dollar of the past 20 years, he said, is not good for American competitiveness.
- [The Skyrocket Phase, Report 3 Apr 2018](https://www.monetary-metals.com/insights/articles/the-skyrocket-phase-report-3-apr-2018/) - Investment is win-win. Speculation is win-lose, where the losses occur during the skyrocket phase, but are only realized during the crash phase.
- [The Wealth Effect, Report 24 Jun 2018](https://www.monetary-metals.com/insights/articles/the-wealth-effect-report-24-jun-2018/) - The so called wealth effect is the dirty little secret behind central bank attempts to juice up GDP.
- [The Toxic Stew, Report 7 Oct 2018](https://www.monetary-metals.com/insights/articles/the-toxic-stew-report-7-oct-2018/) - Perverse incentives in Switzerland will lead to perverse behaviors that will cause the perverse outcome of currency collapse.
- [The Ultimate Stablecoin, Report 18 Nov 2018](https://www.monetary-metals.com/insights/articles/the-ultimate-stablecoin-report-18-nov-2018/) - A gold-redeemable crypto currency is the perfect solution.
- [The Prodigal Parent, Report 9 Dec 2018](https://www.monetary-metals.com/insights/articles/the-prodigal-parent-report-9-dec-2018/) - The Baby Boom generation may be the first generation to leave less to their children than they inherited. Or to leave nothing at all.
- [The Rise and Fall of Interest Rates and RadioShack](https://www.monetary-metals.com/insights/articles/rising-interest-and-prices-report-13-jan-2019/) - The debasement of the dollar causes destruction of capital. It casts the illusion of profitability over a strategy which is mediocre at best...
- [The Two Faces of Inflation, Report 22 Apr](https://www.monetary-metals.com/insights/articles/the-two-faces-of-inflation-report-22-apr/) - Inflation has two different meanings. But one word is used because these different phenomena lead to the same result.
- [The Spreads Blow Out, Update 1 May](https://www.monetary-metals.com/insights/articles/the-spreads-blow-out-update-1-may/) - Something has happened to gold and silver that has not happened since 2006.
- [The Purchasing Power of Capital, Report 29 Sep](https://www.monetary-metals.com/insights/articles/the-purchasing-power-of-capital-report-29-sep/) - We are trained to think that capital assets are surrogate bank accounts, and to look forward to spending them when their purchasing power rises. But there’s a problem.
- [The Simon-Ehrlich Bet Did Not Settle the Question](https://www.monetary-metals.com/insights/articles/the-simon-ehrlich-bet-did-not-settle-the-question/) - The bet shows a fatal flaw in how most people think about inflation.
- [The Wealth Effect: Silver Edition](https://www.monetary-metals.com/insights/articles/the-wealth-effect-silver-edition/) - In a post-interest world, there's not much return in financing a productive enterprise. So, we're forced to speculate on whatever asset bubble is inflating at the moment.
- [The Truth about the Silver Squeeze](https://www.monetary-metals.com/insights/articles/truth-about-silver-squeeze/) - The #silversqueeze story has got the precious metals community in a tizzy. Meanwhile, the silver price seems to have taken the month off. What’s going on?
- [The Silver Chart THEY Don’t Want You to See!](https://www.monetary-metals.com/insights/articles/silver-chart-they-dont-want-to-see/) - Trading in the silver market is fascinatingly complex. The chart and analysis below clarify the nuances that many seemingly don’t want you to understand.
- [The Silver Phoenix Market](https://www.monetary-metals.com/insights/articles/silver-phoenix-market/) - The silver market is showing signs of scarcity that haven’t occurred in years. We break down what this means for silver owners and how it could be resolved.
- [The Russians (Propaganda) Are Coming!](https://www.monetary-metals.com/insights/articles/russians-propaganda-coming/) - The Moscow World Standard has been the subject of rumors and speculation. Will the Russians be able to push up the price of gold? We breakdown the dynamics.
- [The Laffer Curve And Austrian School Economics](https://www.monetary-metals.com/insights/articles/the-laffer-curve-and-austrian-school-economics/) - The Laffer Maxima is not a hard-wired, intrinsic value of 70 (or 42 for fans of Douglas Adams). Like everything else in the market, it moves around.
- [The Loan: An Exchange of Wealth for Income](https://www.monetary-metals.com/insights/articles/the-loan-an-exchange-of-wealth-for-income/) - As the title of this essay suggests, a loan is an exchange of wealth for income. Like everything else in a free market (imagine happier days of yore), it is a voluntary trade. Contrary to the endemic language of victimization, both parties regard themselves as gaining thereby, or else they would not enter into the
- [The Practical Side of Deflation and Deleveraging](https://www.monetary-metals.com/insights/articles/the-practical-side-of-deflation-and-deleveraging/) - Companies with cash beat those without it. The need for cash rises with economic uncertainty. Sure, cash has a low yield, but so what--there aren't many better opportunities anyways. Our competitors get it and the central bank gets it. If you don't get it, try to raise the cash to buy the company? Oh, you
- [The Precise Definition of Inflation](https://www.monetary-metals.com/insights/articles/the-precise-definition-of-inflation/) - The distinction between money and credit is not necessarily important to every discussion, but it is vitally important in a discussion about inflation.
- [The Importance of Gold Backwardation](https://www.monetary-metals.com/insights/articles/the-importance-of-gold-backwardation/) - Gold is in Backwardation!
- [The Gold Futures Open Interest Caper](https://www.monetary-metals.com/insights/articles/the-gold-futures-open-interest-caper/) - In the recent Gold Basis Report we published a graph showing at the time of the crash and in subsequent days only a modest decrease in open interest Why did the numbers drop so little? Wouldn’t one expect to see a big drop?
- [The National Debt Cannot Be Paid Off](https://www.monetary-metals.com/insights/articles/the-national-debt-cannot-be-paid-off/) - Government spending is out of control and, while most say they want spending cuts, people oppose cuts that impact them. Among those who get government money, there’s practically an unspoken, unbreakable pact to keep the money coming. But when I say that the national debt cannot be paid off, it’s not a political forecast; it’s
- [The Lazy 1970’s vs. the Frenetic 2000’s](https://www.monetary-metals.com/insights/articles/the-lazy-1970s-vs-the-frenetic-2000s/) - Many people today see the Fed’s "money printing" and remembering what happened in the 1970’s jump to conclusions. However, we live in a different world.
- [The Gold and Silver Fundamentals, 30 Aug, 2015](https://www.monetary-metals.com/insights/articles/the-gold-and-silver-fundamentals-30-aug-2015/) - Last week, we called for a rising gold to silver ratio. On Wednesday, this ratio hit nearly 80 before backing down a bit by the end of the week. It did not happen with a rising price of gold, rather it was a function of a falling silver price. On Wednesday, the silver price was
- [The Gold Money Supply Correlation Report, 3 Apr, 2016](https://www.monetary-metals.com/insights/articles/the-gold-money-supply-correlation-report-3-apr-2016/) - There were some fireworks this week. Gold went up on Tuesday (it was a shortened week due to Easter Monday), from a low of $1,215 to $1,244 over the day, a move of over 2 percent. Silver moved from $15.02 to $15.44, almost 3 percent. What happened on Tuesday to drive this move down in
- [The Precious Metals Conspiracy, Report 10 Apr, 2016](https://www.monetary-metals.com/insights/articles/the-precious-metals-conspiracy-report-10-apr-2016/) - For at least a few weeks now, we have noticed a growing drumbeat from a growing corps of analysts. Gold is going to thousands of dollars. And silver is going to outperform. Reasons given are myriad. Goldman Sachs apparently said to short gold, so if one assumes that the bank always advises clients to take
- [The Gold-Silver Opposites Report, 17 Apr, 2016](https://www.monetary-metals.com/insights/articles/the-gold-silver-opposites-report-17-apr-2016/) - Well that was interesting. Gold went down over thirty bucks and silver went up over thirty cents. How much longer can this silver rally continue in the face of gold’s nonparticipation? Will speculators really be comfortable bidding silver up to $20 while gold sits at $1200? Do the fundamentals support a higher silver price? How
- [The Great Silver Bubble, Report 7 August, 2016](https://www.monetary-metals.com/insights/articles/the-great-silver-bubble-report-7-august-2016/) - The price of gold was down about fifteen Federal Reserve Notes this week. The price of silver was down sixty-two copper-plated zinc pennies. Is the Federal Reserve Note a suitable instrument with which to measure gold? Can one really use debased pennies—which aren’t even made of the base metal copper any more—to measure the value
- [The Hyperinflation That Was Not, Report 26 Nov 2017](https://www.monetary-metals.com/insights/articles/the-hyperinflation-that-was-not-report-26-nov-2017/) - We live under an absurd monetary system that sacrifices savers to debtors. Savers cannot escape the credit pen, not even when they hold what they think is money.
- [The Great Reset, Report 8 July 2018](https://www.monetary-metals.com/insights/articles/the-great-reset-report-8-july-2018/) - Interest is the only force that can pull gold out of private hoards and into circulation.
- [The Great Gold Upgrade, Report 15 July 2018](https://www.monetary-metals.com/insights/articles/the-great-gold-upgrade-report-15-july-2018/) - A path to upgrade from paper to gold.
- [The Monetary Cause of Lower Prices, Report 12 May](https://www.monetary-metals.com/insights/articles/the-monetary-cause-of-lower-prices-report-12-may/) - Interest is an ingredient that goes into every product. What if we could eliminate interest, as Keynes proposed?
- [The Perversity of Negative Interest, Report 17 Nov](https://www.monetary-metals.com/insights/articles/the-perversity-of-negative-interest-report-17-nov/) - It’s the elephant in the room. Mainstream economics largely ignores it, and critics expect skyrocketing prices. Meanwhile, it’s causing something else entirely.
- [The Out Has Not Yet Begun to Fall, Market Report 31 March](https://www.monetary-metals.com/insights/articles/the-out-has-not-yet-begun-to-fall-market-report-31-march/) - A great bust was certain to come of the great Fed-fueled boom of 2009-2019. The panic response to the virus is both catalyst and accelerant.
- [The Great Reset, 23 November](https://www.monetary-metals.com/insights/articles/the-great-reset-23-november/) - What would a reset look like? Ideas abound! Unfortunately, many appear to be old schemes, repackaged.
- [The Halo Effect](https://www.monetary-metals.com/insights/articles/the-halo-effect/) - It’s not fair. It seems everything claims to be gold. Oil is black gold. Melted cheese is liquid gold. It’s just not fair!
- [The Gold Yield Movement Advances](https://www.monetary-metals.com/insights/articles/the-gold-yield-movement-advances/) - This is the next step in the evolution of yield on gold—investors can access gold yield via the banking system using well-established infrastructure.
- [The Fed's Decision: "Operation Twist"](https://www.monetary-metals.com/insights/articles/the-feds-decision-operation-twist/) - For months, even before the end of QE2, analysts and prognosticators have been saying the Fed will have to do another QE and another, endlessly. These folks were surprised when it didn’t come last month, and predicted confidently that it would come this month especially because Bernanke extended the September meeting to two days. I
- [The Dollar is Going Up](https://www.monetary-metals.com/insights/articles/the-dollar-is-going-up/) - Let’s take a look at a few graphs of the dollar, from Feb 1, 2013 through Friday May 17, 2013. Yes, I said graphs of the dollar. I’ve priced the dollar in gold first (of course), then silver, the euro, and even the yen. The pattern is obvious. The dollar is going up. I did
- [The Dollar Price Rises 33% in Lumber](https://www.monetary-metals.com/insights/articles/the-dollar-price-rises-33-in-lumber/) - Yesterday, we showed pictures of the price of a dollar in gold, silver, euros, and yen. Here is a picture of the price of a dollar in board-feet of lumber. This is a bit silly, as lumber is not a currency. But it is interesting that it shows the same phenomenon. Also,
- [The End (of the Silver Fix) Is Nigh](https://www.monetary-metals.com/insights/articles/the-end-of-the-silver-fix-is-nigh/) - For a long time, many in the gold and silver communities have been say that the prices of the monetary metals are manipulated. Recently, one particular allegation came to prominence because it was asserted by the German regulator BaFin. This allegation is that the members of the London Fixes for gold and silver are using
- [The Exquisite Market Setup, 23 Aug, 2015](https://www.monetary-metals.com/insights/articles/the-exquisite-market-setup-23-aug-2015/) - There is an exquisite setup building once again. Tight fundamentals in the gold market apply upwards pressure on the price. For quite a while, we have been saying gold’s fundamental price was around a hundred bucks above the market price. Well, the market price moved up $46 this week. What happened to the fundamental price?
- [The Dollar Is Going to 1/10,000 Ounce, Report 31 July, 2016](https://www.monetary-metals.com/insights/articles/the-dollar-is-going-to-110000-ounce-report-31-july-2016/) - The price of gold was up about thirty bucks this week. The price of silver was up almost seventy cents. Last week, a reader reminded us that in the long run the dollar is going to zero. He said: “At some point in time, unknown to me, the futures market for gold/silver will collapse… and
- [The Federal Reserve Report, 4 September, 2016](https://www.monetary-metals.com/insights/articles/the-federal-reserve-report-4-september-2016/) - Why is this issue of the Report entitled the Federal Reserve Report? We chose this headline because the Fed is apparently now the driver of supply and demand of gold and silver. Or at least it’s what speculators in gold and silver expect will drive the decisions of the hoarders, whom the speculators are trying
- [The Fed is Good for Gold, Report 25 September, 2016](https://www.monetary-metals.com/insights/articles/the-fed-is-good-for-gold-report-25-september-2016/) - It’s almost like magic. The Fed can say something, or in the case of this Wednesday it can say nothing, and gold and especially silver get a boost of rocket fuel. Actually, the Fed said both yes to rate hikes—in the future—and no to a rate hike now. This was good, if not for people,
- [The Dollar Is Rising, Report 20 November, 2016](https://www.monetary-metals.com/insights/articles/the-dollar-is-rising-report-20-november-2016/) - “The problem with central banks is that they increase the quantity of money in the same way that the problem with piping sewage into a swimming pool increases the quantity of water.” It’s not really about the quantity, is it? It’s about the quality. We believe that millions of people can see that the quality
- [The Fed Rate Hike and Gold, Report 18 June, 2017](https://www.monetary-metals.com/insights/articles/the-fed-rate-hike-and-gold-report-18-june-2017/) - The big news this week comes from the Fed, which hiked the Fed Funds rate 0.25% said it would reduce its balance sheet. The intraday graph of the gold price overlaid with the August basis for Wednesday shows the basis shooting up with the price, then later, the price begins to drop and so does the basis. This relationship is not coincidentaly, it is causal. This is what first speculative buying, then speculative selling, looks like. All in one day.
- [The Fed’s Passive Aggressive Play, Report 4 Feb 2018](https://www.monetary-metals.com/insights/articles/the-feds-passive-aggressive-play-report-4-feb-2018/) - People are asking: are interest rates in a rising cycle? We say the Fed’s timid little rate-hiking adventure is nothing more than a passive aggressive play.
- [The Dollar Cancer and the Gold Cure](https://www.monetary-metals.com/insights/articles/the-dollar-cancer-and-the-gold-cure/) - In this talk titled the Dollar Cancer and the Gold Cure, I discuss more openly than I ever have before what is Monetary Metals doing, and why are we doing it?
- [The Demand to Hoard, Report 13 May 2018](https://www.monetary-metals.com/insights/articles/the-demand-to-hoard-report-13-may-2018/) - A durable rising cycle is when demand to hoard (not to consume) relentlessly outraces supply. We don’t see anything like this dynamic today.
- [The Failure of a Gold Refinery, Report 12 Nov 2018](https://www.monetary-metals.com/insights/articles/the-failure-of-a-gold-refinery-report-12-nov-2018/) - Republic Metals, a gold refiner failed. It tells us a lot about the state of the gold world.
- [The Dollar Works Just Fine, Report 20 Jan 2019](https://www.monetary-metals.com/insights/articles/the-dollar-works-just-fine-report-20-jan-2019/) - Some argue that the dollar isn’t working as a medium of exchange. It is failing in other ways, but not this way.
- [The Duality of Money, Report 10 Mar](https://www.monetary-metals.com/insights/articles/the-duality-of-money-report-10-mar/) - Keynes’ smug assumption gets it exactly backward. The government is not making capital more abundant, but scarcer.
- [The Elephant in the Gold Room, Report 16 June](https://www.monetary-metals.com/insights/articles/the-elephant-in-the-gold-room-report-16-june/) - many blithely assume that, because gold is superior money, that it makes superior currency and people will want to pay out gold.
- [The Fake Economy, Report 21 Jul](https://www.monetary-metals.com/insights/articles/the-fake-economy-report-21-jul/) - Something is fake in our economy, but not what you might think if you accept the Orwellian language tools touted by socialist tools.
- [The Economic Singularity, Report 11 Aug](https://www.monetary-metals.com/insights/articles/the-economic-singularity-report-11-aug/) - In physics, a construct of zero volume and infinite mass is a singularity. In economics, it is zero interest and infinite NPV of liabilities.
- [The End of an Epoch, Report 8 Dec](https://www.monetary-metals.com/insights/articles/the-end-of-an-epoch-report-8-dec/) - Whatever John Maynard Keynes meant by saying “Overturning the existing basis of society,” it is happening in our lifetimes.
- [The Federal Counterfeiter](https://www.monetary-metals.com/insights/articles/the-federal-counterfeiter/) - The Federal Reserve is not just a counterfeiter, it is also the enabler of counterfeiters. The result is everyone is sinking deeper into debt.
- [The Fedcoin is Coming, 8 March](https://www.monetary-metals.com/insights/articles/the-fedcoin-is-coming-8-march/) - The two main reasons driving a possible Fedcoin are sinister and pernicious. And neither Powell nor Yellen have mentioned them.
- [The Fedcoin is Coming, Part 2](https://www.monetary-metals.com/insights/articles/the-fedcoin-is-coming-part-2/) - The two main reasons driving a possible Fedcoin are sinister and pernicious. And neither Powell nor Yellen have mentioned them.
- [The Federal Reserve's Zugzwang Position](https://www.monetary-metals.com/insights/articles/february-22nd-report/) - In other words, zugzwang. In chess, this is when any move makes your position worse. This describes the Fed’s situation perfectly.
- [The Decline and Fall of Silver Backwardation](https://www.monetary-metals.com/insights/articles/the-decline-and-fall-of-silver-backwardation/) - On Friday, I published an article in the Daily Capitalist. I was the only one to cover the news of the end of silver backwardation. And I gave my prediction that the price of silver could correct sharply. This piece presents my analysis and theory of what happened. This will necessarily include some educated guesses,
- [Temporary Backwardation: The Path Forward from 2008](https://www.monetary-metals.com/insights/articles/temporary-backwardation-the-path-forward-from-2008-3/) - The March silver futures contract first entered backwardation on Mar 9 and with a few zigs and zags has not only remained there but has gone deeper and deeper in. The April gold future just entered backwardation today. See the graph (backwardation is when (Spot(bid) - Future(offer) > 0). We shall see what the coming
- [The "Housing Recovery"](https://www.monetary-metals.com/insights/articles/the-housing-recovery/) - Here is a chart of new homes sold, courtesy of the St. Louis Fed.
- [The Coming Silver Correction](https://www.monetary-metals.com/insights/articles/the-coming-silver-correction/)
- [The Curious Case of Falling Gold and Silver Prices](https://www.monetary-metals.com/insights/articles/the-curious-case-of-falling-gold-and-silver-prices/) - A curious thing happened last week. The prices of both monetary metals have been falling for a week and a half through February 15. No, that’s not the curious part. There is no law of nature that says the prices have to go up, but if they go down it must be artificial somehow. The
- [The Curious Case of Falling Gold and Silver Prices. Part II](https://www.monetary-metals.com/insights/articles/the-curious-case-of-falling-gold-and-silver-prices-part-ii/) - In Part I , we presented the data for gold and silver price, open interest, and basis. They form a curious combination, which we discuss in this Part II. If open interest is rising, then it means one of two things. Contracts are being created by fresh buyers taking the ask, in which case we
- [The Curious Widening of the Bid-Ask Spread in Silver](https://www.monetary-metals.com/insights/articles/the-curious-widening-of-the-bid-ask-spread-in-silver/) - Last week, I wrote about a curious development in silver. The bid-ask spread widened in November and December. My article concluded: One should regard this as another type of rot in the core of the system. The point of my dissertation is that narrowing spreads is a sign of increasing economic coordination, and widening spreads
- [The Credit Gradient](https://www.monetary-metals.com/insights/articles/the-credit-gradient/) - The United States, and every country, is subject to a monetary authority and legal tender laws. Here in the U.S. we have the Federal Reserve, a central bank that plans money and credit. The Fed thought they had perfected their planning (but of course it cannot be perfected). They thought they had ended the boom
- [The Decline and Fall of Silver Backwardation 11 Oct, 2015](https://www.monetary-metals.com/insights/articles/the-decline-and-fall-of-silver-backwardation-11-oct-2015/) - The gold price moved up $18. However, the silver price moved up 60 cents which is a much bigger percentage. The silver community is getting pretty excited. A market trend will often begin when a small number of traders learn something new. As they begin buying (or selling), the price begins to move. Others become
- [The Cost of Bullish Bets, Report 5 June, 2016](https://www.monetary-metals.com/insights/articles/the-cost-of-bullish-bets-report-5-june-2016/) - There are two views of the markets for the monetary metals. One, as we have discussed many times in this Report, holds that gold and silver will eventually go up so high that those who own the metals will be rich. This is the Schrodinger’s dollar view. Buy gold because the dollar will soon collapse—witness
- [The Clinton-Comey Effect, Gold Report 30 October, 2016](https://www.monetary-metals.com/insights/articles/the-clinton-comey-effect-gold-report-30-october-2016/) - Twice this week, the prices of the metals spiked. Once on early Monday due to a cause unclear to us. The second on Friday late morning (Arizona time) due to, get this, additional problems for Democrat Hillary Clinton. The stock market dropped at the same time that the prices of the metals surged. Call it
- [Technical vs. Fundamental, Report 19 Mar, 2017](https://www.monetary-metals.com/insights/articles/technical-vs-fundamental-report-19-mar-2017/) - We don’t want to fight with people, we prefer to focus on ideas. So let’s compare and contrast ordinary technical analysis with what Monetary Metals does.
- [The Balance of Gold and Silver, Report 2 April, 2017](https://www.monetary-metals.com/insights/articles/the-balance-of-gold-and-silver-report-2-april-2017/) - Last week, we discussed the growing stress in the credit markets. We noted this is a reason to buy gold, and likely the reason why gold buying has ticked up since just before Christmas. Many people live in countries where another paper scrip is declared to be money—to picture the absurdity, just imagine a king
- [The Anatomy of Brown’s Gold Bottom, Report 11 June, 2017](https://www.monetary-metals.com/insights/articles/the-anatomy-of-browns-gold-bottom-report-4-june-2017/) - Looking at the gold basis and cobasis during Gordon Brown's sale of the UK's gold we ask if gold was becoming abundant due to selling or did something else happen?
- [The Cycle of Falling Interest, Gold and Silver Report 12 Nov 2017](https://www.monetary-metals.com/insights/articles/the-cycle-of-falling-interest-gold-and-silver-report-12-nov-2017/) - Central banks lower interest rates to compensate for falling marginal productivity of debt. This just buys time while people’s savings are casually disposed of.
- [The Alleged Trump Deregulation](https://www.monetary-metals.com/insights/articles/the-alleged-trump-deregulation/) - People constantly tell me that Trump is deregulating. What’s the proof? Well I have a personal observation to share: there is no deregulation in banking.
- [The Bitcoin Effect, Gold and Silver Report 24 Dec 2017](https://www.monetary-metals.com/insights/articles/the-bitcoin-effect-gold-and-silver-report-24-dec-2017/) - Is bitcoin or interest rates causing the falling gold price trend?
- [The Benefits of Issuing Gold Bonds](https://www.monetary-metals.com/insights/articles/the-benefits-of-issuing-gold-bonds/) - There are fiscal benefits to a government that issues a gold bond. Also to the people and gold miners. And even to government workers and retirees.
- [Textbook Falling Interest Behavior](https://www.monetary-metals.com/insights/articles/textbook-falling-interest-behavior/) - Classic behavior in the falling interest trend--investment is made in expanded capacity, with explicit intention to drive prices down.
- [The Crime of ‘33, Report 27 May](https://www.monetary-metals.com/insights/articles/the-crime-of-33-report-27-may/) - Irredeemable currency disenfranchises the saver. The bond vigilante has gone extinct, like a dinosaur stripped of its teeth.
- [That Precious Metals Rumor Mill, 30 November](https://www.monetary-metals.com/insights/articles/that-precious-metals-rumor-mill-30-november/) - Silver shortage? Famous Buyers? Big Transactions? Let’s look closely at the data.
- [The Bitcoin Perfection Problem](https://www.monetary-metals.com/insights/articles/the-bitcoin-perfection-problem/) - We were going through some old bitcoin articles and realized we had a draft of an article Keith wrote that we never published. Better late than never! We hope you enjoy. Listen to the audio version of this article here. The History of Technological Innovation Bitcoin has an intractable problem, and it is intrinsic to
- [The Bifurcated Interest Rate](https://www.monetary-metals.com/insights/articles/the-bifurcated-interest-rate/) - A fissure in the monetary system is very dangerous. Market participants drastically alter their behavior, which can cause the collapse of financial institutions
- [Subjective Theory of Value](https://www.monetary-metals.com/insights/articles/subjective-theory-of-value/) - The question “what is value” must first be addressed outside the field of economics; it is one of the fundamental questions in the field of philosophy. It is the core of the branch of philosophy known as ethics. For millennia, philosophers debated the nature of value. One view was that value is intrinsic—given by a
- [Stocks vs. Flows](https://www.monetary-metals.com/insights/articles/stocks-vs-flows/) - Today, people who believe that gold is money think that one should hoard gold. They seek to take possession personally. Or when they have it stored professionally, they look for a private vault outside the banking system where they can (hopefully) trust their warehouse receipt. And why shouldn’t they avoid the banking system? Its corruption
- [Summary of Keith Weiner's Interview on Capital Account with Lauren Lyster - Debunking the Naked Short Position](https://www.monetary-metals.com/insights/articles/summary-of-keith-weiners-interview-on-capital-account-with-lauren-lyster-debunking-the-naked-short-position/) - Last Friday, I was interviewed on Capital Account with Lauren Lyster. We discussed one of the more popular conspiracy theories regarding gold price manipulation. The claim is that a banking cartel is surreptitiously suppressing the price of gold by selling contracts short “naked” (i.e. without having the metal to deliver) in the futures market. We
- [Swapping Equity for Debt](https://www.monetary-metals.com/insights/articles/swapping-equity-for-debt/) - When I was working out at the gym a few weeks ago, TJ Rodgers was on the Mad Money show on CNBC (I recall this being Friday January 25, but I cannot find video of this show on the Internet). For those who haven’t seen the show, the host, Jim Cramer, affects a loud and
- [Supply and Demand Update 2 Dec](https://www.monetary-metals.com/insights/articles/supply-and-demand-update-2-dec/) - This is a brief follow up on the Supply and Demand Report of 30 November. In that report, we observed an extraordinary development in the gold market. We made several predictions, which came true almost immediately. We don’t always expect this to happen, but today we think it’s worth looking at what we said and
- [Supply and Demand Report 6 Sep, 2015](https://www.monetary-metals.com/insights/articles/supply-and-demand-report-6-sep-2015/) - This was a fairly quiet week in the market for the metals, with a min-rally on Thursday especially in silver which hit almost $15. By the end of the week, the price of gold was down $13 and the price of silver was up 3 cents. The action was elsewhere (e.g. equities and currencies). We
- [Supply and Demand Report 27 Dec, 2015](https://www.monetary-metals.com/insights/articles/supply-and-demand-report-27-dec-2015/) - The prices of the metals rose a bit this quiet, holiday week. Merry Christmas! Speaking of Christmas, Keith’s brother who is an amateur woodworker of growing skill, gave him this present on Friday. Regular readers may recognize the design as our logo. Each “M” is made of a single piece of wood. They are stained
- [Supply and Demand Report, 13 Mar, 2016](https://www.monetary-metals.com/insights/articles/supply-and-demand-report-13-mar-2016/) - On the week, the prices of the metals didn’t move all that much. However, the move around 6am (Arizona time) on Thursday is notable. The price of silver spiked up from around $15.12 to $15.64—3.4%—by around 8am. Twelve hours later, the price touched $15.73 before sliding off. We are always interested in the fundamentals, as
- [Silver’s on Fire, Report 24 Apr, 2016](https://www.monetary-metals.com/insights/articles/silvers-on-fire-report-24-apr-2016/) - Another interesting week, in that the price of silver separated from the price of gold. The former went no nowhere, while the latter gained over 4.5%. We get the trading thesis, that if the precious metals are in a bull market, then silver should go up more than gold. Silver is the high-beta gold. It’s
- [Soft and Softer Silver Fundamentals, Report 19 June, 2016](https://www.monetary-metals.com/insights/articles/soft-and-softer-silver-fundamentals-report-19-june-2016/) - Last week, we asked where then will silver go. Well, the price moved around this week, dipping on Thursday but then rebounding sharply on Friday. It closed up 13 cents from last week. The price of gold rose $24. This week, the Federal Reserve announced that it will not hike rates. Most economists (and traders)
- [Silver’s Got Fundamentals, Report 8 Jan, 2017](https://www.monetary-metals.com/insights/articles/silvers-got-fundamentals-gold-and-silver-report-8-jan-2017/) - This week was another short week, due to the New Year holiday. We look forward to getting back to our regularly scheduled market action. The prices of both metals moved up again this week. Something very noticeable is occurring in the supply and demand fundamentals. We will give an update on that, but first, here’s
- [Stocks, Bonds, Euro, and Gold Go Up, Report 4 June, 2017](https://www.monetary-metals.com/insights/articles/stocks-bonds-euro-and-gold-go-up-report-4-june-2017/) - The jobs report was disappointing. The prices of gold, and even more so silver, took off. In three hours, they gained $18 and 39 cents. Before we try to read into the connection, it is worth pausing to consider how another market responded. We don’t often discuss the stock market (and we have not been
- [Stockholm Syndrome Gold Report, 16 July 2017](https://www.monetary-metals.com/insights/articles/stockholm-syndrome-gold-report-16-july-2017/) - Key behaviors in Stockholm Syndrome are positive feelings for their captors, a refusal to work with law enforcement afterwards, and even a belief in the terrorist’s humanity. Key behaviors of investors today show eerie parallels: a desire to bid on dollars with their assets, a refusal to support the gold standard, and even a belief that the dollar is money.
- [Stocks Up and Yields Down, Gold and Silver Report 8 Oct 2017](https://www.monetary-metals.com/insights/articles/stocks-up-and-yields-down-gold-and-silver-report-8-oct-2017/) - Falling company earnings and dividend yield and rising debt will create a problem for shareholders. But for now, investors don’t see much downside, only upside.
- [Speculating Our Way to Prosperity, Report 15 Jan 2018](https://www.monetary-metals.com/insights/articles/speculating-our-way-to-prosperity-report-15-jan-2018/) - What is the solution to a mad centrally banked world that thinks a whole society can speculate its way to prosperity, while really only enriching a few?
- [Take It To The Bank: Interest Rates Won't Rise, Report 11 Feb 2018](https://www.monetary-metals.com/insights/articles/take-it-to-the-bank-interest-rates-wont-rise-report-11-feb-2018/) - There is a consensus, from Fed propagandists to the gold bugs and everyone in between. Everyone thinks that rates are rising. We say interest rates won't rise.
- [Super-Duper-Irrational Exuberance, Report 11 Mar 2018](https://www.monetary-metals.com/insights/articles/super-duper-irrational-exuberance-report-11-mar-2018/) - By lowering yields central banks create super-duper-irrational exuberance, force-feeding companies more capital than they need. The result? Capital destruction.
- [Standing Ready to Lease Gold, Report 18 Mar 2018](https://www.monetary-metals.com/insights/articles/standing-ready-to-lease-gold-report-18-mar-2018/) - Greenspan’s “central banks stand ready to lease gold in increasing quantities should the price rise” is not about price suppression but about backwardation suppression.
- [Slaves to Government Debt Paper, Report 25 Mar 2018](https://www.monetary-metals.com/insights/articles/slaves-to-government-debt-paper-report-25-mar-2018/) - Investors cannot escape from bondage to the Federal Reserve and government debt paper until they stop thinking of the dollar as “Money” with a capital M.
- [Something for Nothing, Report 20 May 2018](https://www.monetary-metals.com/insights/articles/something-for-nothing-report-20-may-2018/) - Speculation is where someone gets something for nothing at the expense of someone else who gets nothing for something.
- [Social Security Deterioration, Report 17 Jun 2018](https://www.monetary-metals.com/insights/articles/social-security-deterioration-report-17-jun-2018/) - Irredeemable currency causes pensions to fail. The Social Security Board of Trustees recently issued a troubling report.
- [Surest Way to Overthrow Capitalism, Report 6 Jan 2019](https://www.monetary-metals.com/insights/articles/surest-way-to-overthrow-capitalism-report-6-jan-2019/) - The world is following Lenin’s playbook, as told by Keynes.
- [Targeting nGDP Targeting, Report 3 Nov](https://www.monetary-metals.com/insights/articles/targeting-ngdp-targeting-report-3-nov/) - nGDP targeting is another way to answer the same Begged Question: how shall the center planner determine how much money to print?
- [Socialism and Gold](https://www.monetary-metals.com/insights/articles/socialism-and-gold/) - There is a megatrend towards socialism. Perversely (for the socialists) this will drive the disenfranchised and displaced people to buy gold and silver.
- [Tariff threat makes gold market go haywire](https://www.monetary-metals.com/insights/articles/tariff-threat-makes-gold-market-go-haywire/) - A surprise 39% tariff threat on Swiss gold imports sent shockwaves through the gold market. Gold prices remained relatively stable, but spreads exploded.
- [Silver Perspective](https://www.monetary-metals.com/insights/articles/silver-perspective/) - As this set of infographics show, more than half of the silver mined throughout history is still in human inventories. Be sure to keep reading and scroll to the bottom.
- [Silver Rises $0.70 on "Fundamentals" (or something)](https://www.monetary-metals.com/insights/articles/silver-rises-0-70-on-fundamentals-or-something/) - Yes, big red candle followed by two big green candles occur at the same time: 6AM - 9AM PDT. Somewhere, a credit spigot opened...
- [Silver Market Change Report 5 July, 2015](https://www.monetary-metals.com/insights/articles/silver-market-change-report-5-july-2015/) - The prices of the metals drooped further this shortened week (Friday was a holiday in the US, as the Fourth of July, Independence Day, occurred on Saturday). The S&P 500 index also fell this week, as did crude oil. Markets all over the world are beginning to feel shocks from Greece. As we write this,
- [Silver Price Spikes, But What Demand 4 Oct, 2015](https://www.monetary-metals.com/insights/articles/silver-price-spikes-but-what-demand-4-oct-2015/) - For a few frenzied minutes, while everyone was sleeping, the price of silver spiked 56 cents. Well, at least the West Coast of America was sleeping. It began at 8:30 in New York, where presumably most traders were not sleeping. And of course, it was afternoon here in London (where Monetary Metals just held a
- [Silver Rocket Report 6 Dec, 2015](https://www.monetary-metals.com/insights/articles/silver-rocket-report-6-dec-2015/) - The prices of the metals moved mostly sideways this week. That is, until Friday. Then foom! (Foom is the sound of a rocket taking off.) From 6 to 10am (Arizona time, i.e. 8 to 12 NY time) the price of gold rose from $1,061 to $1,087. Not surprisingly, the silver price rose a greater percentage,
- [Silver Flash in the Pan, Report 10 Jan, 2016](https://www.monetary-metals.com/insights/articles/silver-flash-in-the-pan-report-10-jan-2016/) - No doubt, many people were excited on Thursday to see a spike in the silver price. The big news almost seemed like it would be a spike in the silver price. We were not quite so exuberant, tweeting (follow us on Twitter @Monetary_Metals): “What happened to silver supply and demand fundamentals this morning?!” We expected
- [Silver Goes Foom, Report 24 Jan, 2016](https://www.monetary-metals.com/insights/articles/silver-goes-foom-report-24-jan-2016/) - This will be a brief report, as we’re focused on releasing our Outlook 2016 Report which is over 8,000 words of our assessment of the gold, silver, currency, and credit markets. Also, this was a holiday-shortened week (Monday was Martin Luther King Day in the US). But that did not stop the fireworks in silver
- [Silver Gone Wild Report, 20 Mar, 2016](https://www.monetary-metals.com/insights/articles/silver-gone-wild-report-20-mar-2016/) - Early on Monday morning (Arizona time), silver began to rise. From its close on Friday of $15.46, it ran up to $15.82. Then it began to slide, eventually dropping to $15.17 by midmorning on Wednesday. Then… *BAM* The Fed said not a lot. It will go on manipulating the rate of interest rate to the
- [Silver Relative Strength Report, 27 Mar, 2016](https://www.monetary-metals.com/insights/articles/silver-relative-strength-report-27-mar-2016/) - Gold went down (as the muggles would measure it, in dollars). It dropped almost 40 bucks. Silver fell almost 60 cents. Since silver fell proportionally farther than gold, the gold-silver ratio went up. Why do we keep reiterating that gold goes nowhere, that it’s the dollar which mostly goes down over long periods of time
- [Silver OMG, Report 3 July, 2016](https://www.monetary-metals.com/insights/articles/silver-omg-report-3-july-2016/) - On Wednesday through Friday, the price of silver spiked massively. It ended the week about $2 higher than the previous week. The last time we recall silver price action like this was about 3 years ago, in August 2013. That one week, the price rose about $2.50. Before that was a week in August 2012,
- [Silver Is in a Different World, Report 21 August, 2016](https://www.monetary-metals.com/insights/articles/silver-is-in-a-different-world-report-21-august-2016/) - Measured in gold, the price of the dollar hardly budged this week. It fell less than one tenth of a milligram, from 23.29 to 23.20mg. However, in silver terms, it’s a different story. The dollar became more valuable, rising from 1.58 to 1.61 grams. Most people would say that gold went up $6 and silver
- [Silver Returns Earthward, Report 11 September, 2016](https://www.monetary-metals.com/insights/articles/silver-returns-earthward-report-11-september-2016/) - The prices of both metals were down this holiday-shortened (Labor Day in the US) week, especially on Friday. The decline corresponded to a spike in interest rates. Of course everyone watched the action of the stock market on Friday. Whatever the proximate cause, the root is credit. When borrowing to buy assets does not work,
- [Silver Rocket and Gold Moribund, Report 18 September, 2016](https://www.monetary-metals.com/insights/articles/silver-rocket-and-gold-moribund-report-18-september-2016/) - The prices of both metals were down again this week. We would guess that it has something to do with the fact that everyone knows: higher rates are coming to the dollar. The yield on the 10-year Treasury closed the previous week at 1.762% and this week at 1.701%. It may not look like much,
- [Silver Speculators Gone Wild, Report 29 Jan, 2017](https://www.monetary-metals.com/insights/articles/silver-speculators-gone-wild-report-29-jan-2017/) - This week, the prices of the metals had been up Sunday night but were slowly sliding all week—until Friday at 7:00am Arizona time (14:00 in London). Then the price of silver took off like a silver-speculator-fueled-rocket. It went from $16.68 to $17.25, or 3.4% in two hours. What does it mean? We don’t know. We
- [Silver Futures Market Assistance, Report 12 Feb, 2017](https://www.monetary-metals.com/insights/articles/silver-futures-market-assistance-report-12-feb-2017/) - This week, the prices of the metals moved up on Monday. Then the gold price went sideways for the rest of the week, but the silver price jumped on Friday. Is this the rocket ship to $50? Will Trump’s stimulus plan push up the price of silver? Or just push silver speculators to push up
- [Silver Takes the Elevator Down, Report 30 April, 2017](https://www.monetary-metals.com/insights/articles/silver-takes-the-elevator-down-report-30-april-2017/) - Last week, we talked about the effect of the French election on the gold and silver markets, and noted: Of course, traders want to know how this will affect gold and silver. As we write this, we see that silver went down 30 cents before rallying back up to where it closed on Friday. Gold
- [Silver Is Now Offered At a Discount, Report 2 July, 2017](https://www.monetary-metals.com/insights/articles/silver-is-now-offered-at-a-discount-report-2-july-2017/) - Have you ever been in a discussion about gold, when someone blurts out “we don’t have enough gold to operate a gold standard!” We have a standard retort. “Oh, that’s interesting. Please tell us how much gold you think would be necessary, and how you calculated it.” We have never heard a coherent answer to this question. Most people just don’t like gold, and will say whatever words they think will dismiss the monetary question entirely, without actually having to address the issues.
- [Silver Scarcifies, 27 July](https://www.monetary-metals.com/insights/articles/silver-scarcifies-27-july/) - Silver got scarcer and simpler on Monday. While the price of silver went up, a lot, the abundance of the metal to the market went down, a lot.
- [Silver Supply & Demand Still Strong at $29, 11 Aug](https://www.monetary-metals.com/insights/articles/silver-strong-at-29/) - The 6 phases of trading action indicate silver was no more abundant yesterday. And with this much buying, things are looking bullish.
- [Silver Purchasing Power or Perverse Incentives? 12 Aug](https://www.monetary-metals.com/insights/articles/silver-purchasing-power-or-perverse-incentives-12-aug/) - The Fed doesn’t increase purchasing power. It offers a perverse incentive, which drives perverse actions, leading to perverse outcomes.
- [Silver Rises, JP Morgan Manipulates! 29 September](https://www.monetary-metals.com/insights/articles/silver-rises-jp-morgan-manipulates-29-september/) - While silver climbed a bit on Monday, we introduced JP Morgan to Motte and Bailey. And once again, logic ensued.
- [Silver Falls, We’ve Got #$*&! Mail - 6 October](https://www.monetary-metals.com/insights/articles/silver-falls-weve-got-mail-6-october/) - Keith Weiner's analysis of the recent silver fall, plus how to deal with hate mail after disagreeing with price suppression theorists.
- [Silver Not Stimulated - 7 Oct](https://www.monetary-metals.com/insights/articles/silver-not-stimulated-7-oct/) - What was selling on Tuesday…futures or metal? Plus, why Peter stimulating Paul is a bad idea all around.
- [Silver Update: Scarcity Gets More Extreme](https://www.monetary-metals.com/insights/articles/silver-scarcity-more-extreme/) - Silver is showing signs of scarcity that haven’t occurred in years. Key indicators continue to stray further from normal conditions, and we break down why.
- [Silver Fever, or Silver Fading?](https://www.monetary-metals.com/insights/articles/silver-fever-or-fading/) - The silver scarcity has begun to resolve. We discuss what the data in the silver market is saying and why the market has become a Keynesian Beauty Contest.
- [Reflections Over 2012](https://www.monetary-metals.com/insights/articles/reflections-over-2012-4/) - The last workweek of the year is complete. Beers were had with friends yesterday, Friday evening. The final shopping trip to the mall was completed today, followed by a good meal with my wife. Now I find myself in a reflective mood, and this is a perfect time to reflect on what an incredible year
- [Sandy Relief passes the House today](https://www.monetary-metals.com/insights/articles/sandy-relief-passes-the-house-today/) - Sandy Relief passes the House today The total is now over $50B. That's over $150 for every man, woman, and child in the country. Most children don't work. Many people are retired. There are people in jail, on the dole, and who work for the government including military (whose cannot by definition help pay for
- [Rising Debt Burden and Falling and Rising Rates](https://www.monetary-metals.com/insights/articles/rising-debt-burden-falling-and-rising-rates/) - Three links from Seeking Alpha’s Wall Street Breakfast: Must-Know News today really underscore the intractable debt and interest rate problems in irredeemable currency. Corporate pension deficits soar. The WSJ shines a light on the significant funding gap in corporate pension plans, with the deficit among Russell 3000 companies rising to $441B in 2012 from
- [Selling Low and Buying High: Hedging by the Gold Miners](https://www.monetary-metals.com/insights/articles/selling-low-and-buying-high-hedging-by-the-gold-miners/) - Hedging is a controversial topic, probably as controversial as any I have written about. Nevertheless, I want to share my thoughts and hopefully add something new to the topic. It is general knowledge that the gold miners had adopted hedging during the long years when the gold price was moving sideways to downwards, culminating in
- [Selling Low and Buying High: Hedging by the Gold Miners Part II](https://www.monetary-metals.com/insights/articles/selling-low-and-buying-high-hedging-by-the-gold-miners-part-ii/) - To use an analogy, the benefit of having bought a fire insurance policy is that the insurance company will pay for the damage when your house is on fire.
- [Rising Interest Rates Spoil the Party](https://www.monetary-metals.com/insights/articles/rising-interest-rates-spoil-the-party/) - I originally wrote this in September 2013. It is just as relevant now in December. The big news in America is that the rate on the 10-year Treasury bond has risen dramatically from around 1.6% to over 2.9%. This is 130 basis points from a starting point of 160, or an increase of more than
- [Should the Gold Price Keep Up with Inflation?](https://www.monetary-metals.com/insights/articles/should-the-gold-price-keep-up-with-inflation/) - The popular belief is that gold is a good hedge against inflation. Owning gold will protect you from rising prices. Is that true? Most people define inflation as rising prices. Economists will quibble and say technically it’s the increase in the quantity of money, however Milton Friedman expressed the popular belief well. He said, “Inflation
- [Revenge of the Fundamentals, Report 22 May, 2016](https://www.monetary-metals.com/insights/articles/revenge-of-the-fundamentals-report-22-may-2016/) - The price of gold moved down about twenty Federal Reserve Notes, and the price of silver dropped $0.57. The big news is that the gold-silver ratio moved up about 1.5. We hate to say “we told you so,” well, OK. Actually… sometimes there’s a certain je ne said quoi about gloating. *Achem* In all seriousness, the
- [Sideways Silver Market, Report 16 October, 2016](https://www.monetary-metals.com/insights/articles/sideways-silver-market-report-16-october-2016/) - Not much price action at the metals tables in the casino. Gold -$7, and silver -$0.10. Gold to silver ratio unchanged. This will be a brief report, due to the rigors of travel this week. Read on for the only true picture of the fundamentals of the monetary metals. But first, here’s the graph of
- [Silver Elevator Keeps Falling, Report 7 May, 2017](https://www.monetary-metals.com/insights/articles/silver-elevator-keeps-falling-report-7-may-2017/) - The dollar moved strongly, now over 25mg gold and 1.9g silver. This was a holiday-shortened week, due to the Early May bank holiday in the UK. The big news as we write this, Macron beat Le Pen in the French election. We suppose this means markets can continue to do what they wanted to do
- [Shut Down Shoddy Debt, Report 21 Jan 2018](https://www.monetary-metals.com/insights/articles/shut-down-shoddy-debt-report-21-jan-2018/) - Government borrows in bad faith as it has no means or intent to repay. Yet people mistakenly believe the government’s bad debt paper is good money.
- [Savers are Just Collateral Damage, Report 29 Apr 2018](https://www.monetary-metals.com/insights/articles/savers-are-just-collateral-damage-report-29-apr-2018/) - Falling interest causes a falling savings rate. Most economists ignore this collateral damage of their central planning goals.
- [Rising Rates Falling Assets, Report 30 Dec 2018](https://www.monetary-metals.com/insights/articles/rising-rates-falling-assets-report-30-dec-2018/) - Falling interest rates cause rising asset prices and rising rates cause falling assets.
- [Silver Backwardation Returns, Gold and Silver Market Report 2 March](https://www.monetary-metals.com/insights/articles/silver-backwardation-returns-gold-and-silver-market-report-2-march/) - The price of gold and especially of silver dropped. And with that, backwardation emerges in silver.
- [Silver Explodes—But Why?](https://www.monetary-metals.com/insights/articles/silver-explodes-but-why/) - This manic rise in the price of silver will end someday. But today is not that day. Stack on!
- [Silver Crash! 22 September](https://www.monetary-metals.com/insights/articles/silver-crash-22-september/) - Conventional monetary thinkers measure the dollar in terms of the euro, pound, yuan – or consumer prices. However, we are not conventional.
- [Reflections Over 2020](https://www.monetary-metals.com/insights/articles/reflections-over-2020/) - What’s the connection between forged battlefield weaponry and the concept of redeemability in a gold standard? Read on.
- [Ruh Roh Silver, 2 February](https://www.monetary-metals.com/insights/articles/ruh-roh-silver-2-february/) - The headlines blaring about the “disconnect” between paper and physical silver have it wrong. They are, in effect, saying “wet street caused sunshine!”
- [Reddit Residue on Silver, 3 February](https://www.monetary-metals.com/insights/articles/reddit-residue-on-silver-3-february/) - What caused this week’s yoyo-like swings in silver? Residual Redditors? FOMO? What can we expect from here?
- [Resetting the Federal Debt](https://www.monetary-metals.com/insights/articles/resetting-the-federal-debt/) - That the debt is unpayable may be obvious, but the endgame is not obvious at all. The Fed keeps printing, but no default. How come? Is a simple "reset" coming?
- [Rising Fundamentals of Gold and Silver](https://www.monetary-metals.com/insights/articles/rising-fundamentals-of-gold-and-silver/) - To describe the fundamentals of the gold and silver markets, or even predict its price moves, a coherent theory must look at the gold and silver bases.
- [Reflections Over 2021](https://www.monetary-metals.com/insights/articles/reflections-over-2021/) - In March, I flew for the first time since the start of Covid health theater. I was invited to speak at the Austrian Economics Research Conference in Auburn, AL.
- [Response: Fed's Digital Currency Paper](https://www.monetary-metals.com/insights/articles/response-fed-digital-currency-paper/) - The Federal Reserve has solicited comments about its ideas for a central bank digital currency (CBDC). This is our extended commentary offered in response.
- [Reflections Over 2022](https://www.monetary-metals.com/insights/articles/reflections-2022/) - My reflections are that we just may pull it off—our mission to help the world transition to a proper gold standard. 2022 was a helluva year, bring on 2023 baby!
- [Permanent Gold Backwardation: The Crack Up Boom](https://www.monetary-metals.com/insights/articles/permanent-gold-backwardation-the-crack-up-boom/) - The conclusion we can make is that Ludwig Von Mises’ “Crack Up Boom” will be an inevitable consequence of permanent backwardation in gold.
- [Open Letter to Steve Keen](https://www.monetary-metals.com/insights/articles/open-letter-to-steve-keen-3/) - 26/04/12 Keith Weiner Dear Professor Keen, I am a monetary scientist and a fan of some of your work. I admire the courage it took for you to call the Australian housing crisis as early as you did, and to make a bet that you would be right. But I came across this video (http://www.youtube.com/watch?feature=player_embedded&v=aqY_DYtp60s#),
- [Open Letter to Ted Butler](https://www.monetary-metals.com/insights/articles/open-letter-to-ted-butler-4/) - Responding Ted Butler's allegations of "manipulation", by which he means naked selling of silver futures. This is not occurring, and we have data to prove it.
- [Problem with GDP](https://www.monetary-metals.com/insights/articles/problem-with-gdp/) - The problem with GDP is that government consumption of private capital is positive. The problem with government gradually taking over all aspects of the economy is that even a small cut in spending will send workers to the unemployment line and shutter businesses. http://www.zerohedge.com/news/2013-01-11/35-us-2013-gdp-could-evaporate-due-enacted-tax-hikes
- [Physical Silver Scarcity: Fact or Fiction](https://www.monetary-metals.com/insights/articles/physical-silver-scarcity-fact-or-fiction/)
- [Oscillation, Feedback, and Resonance](https://www.monetary-metals.com/insights/articles/oscillation-feedback-and-resonance/) - I just saw this fascinating video of a bunch of metronomes that begin ticking out of sync with one another, but slowly line up until they all beat in unison. I really love the title slide where it says “NONLINEAR DYNAMICAL SYSTEMS”, how apropos! Watch the video, the outcome is counterintuitive. The metronomes show some principles
- [Perception vs. Reality at the Fed](https://www.monetary-metals.com/insights/articles/perception-vs-reality-at-the-fed/) - Last week, a story broke about Fed whistleblower Carmen Segarra. I wrote an article on Forbes about it, Disgruntled Fed Lawyer Blows Whistle on Regulatory Capture. Segarra is a former Fed regulator assigned to supervise Goldman Sachs. She secretly recorded 46 hours of audio from her meetings, during her short stint on site at Goldman
- [Please Join Us on Sep 11 in NY City](https://www.monetary-metals.com/insights/articles/please-join-us-on-sep-11-in-ny-city/) - We don’t have a normal economy, or normal markets. We are six years into a so called recovery based on zero interest rates, and it’s obvious that the Fed’s interventions aren’t working. The Fed’s critics, however, are also wrong. The price of crude oil is now at a low not seen since the height of
- [Price Moves and Term Structures 20 Sep, 2015](https://www.monetary-metals.com/insights/articles/price-moves-and-term-structures-20-sep-2015/) - The prices of the metals moved up a bunch this week, with gold + $32 and silver +$0.55. We have seen some discussion of gold backwardation in the context of scarcity, and hence setting expectations of higher prices. That’s good, as the swings from contango to backwardation and back are the only way to understand
- [Prediction: Gold and Ratio Up, Stocks Down 27 Sep, 2015](https://www.monetary-metals.com/insights/articles/prediction-gold-and-ratio-up-stocks-down-27-sep-2015/) - The price of gold moved up moderately, and the price of silver moved down a few cents this week. However, there were some interesting fireworks in the middle of the week. Tuesday, the prices dropped and Thursday the prices of the metals popped $23 and $0.34 respectively. Everyone can judge the sentiment prevailing in gold
- [Pure Gold and Soggy Dollars](https://www.monetary-metals.com/insights/articles/pure-gold-and-soggy-dollars/) - We’re going to be introducing some new formats. One of them is quick article links, with the good ones labelled Pure Gold and the bad ones labelled Soggy Dollars. Pure Gold When a Fed-induced boom turns to bust: "In the lynch-mob atmosphere that inevitably follows the bust cycle of Fed-induced business cycles, it was not
- [Open Letter to the Banks](https://www.monetary-metals.com/insights/articles/open-letter-to-the-banks/) - Jamie Dimon, JP Morgan Chase Brian T. Moynihan, Bank of America Michael Corbat, Citigroup Gentlemen: On Friday, I attended a digital money summit at the Consumer Electronics Show. I am writing to you to warn you about the disruption that is about to occur in banking. There are many startups (and larger companies too) that
- [Possible Sign of Silver Turn, Report 31 Jan, 2016](https://www.monetary-metals.com/insights/articles/possible-sign-of-silver-turn-report-31-jan-2016/) - The price of the dollar was down 50mg gold, to 27.8mg, or if you prefer 0.04g silver to 2.18g. Why do we measure the volatile dollar in terms of gold and silver? There’s nothing else to measure it, certainly not the dollar-derivatives called euro, pound, franc, yen, and yuan. In the common tongue, gold was
- [Possible Silver U-Turn Report, 7 Feb](https://www.monetary-metals.com/insights/articles/possible-silver-u-turn-report-7-feb/) - Wow, did the dollar move down this week! It dropped more than it has in quite a while. It fell 1.3mg gold, or 0.1g silver. Gold and silver bugs of course are excited, as they look at it as the prices of the metals going up $55 and 72 cents respectively. The collapse of what
- [Paper Gold Is Rising, Report 1 May, 2016](https://www.monetary-metals.com/insights/articles/paper-gold-is-rising-report-1-may-2016/) - The price of gold shot up over $60 this week. The price of silver moved up proportionally, gaining over $0.85. The mood is now palpable. The feeling in the air is that of long suffering suddenly turned to optimism. Big gains, if not the collapse of the price-suppression cartel, are now inevitable. The headlines and
- [Real vs. Nominal Interest Rates](https://www.monetary-metals.com/insights/articles/real-vs-nominal-interest-rates/) - What are real interest rates vs nominal interest rates? This contrast is a problematic idea. Let’s drill deeper into why and how it's flawed.
- [Partial Silver Crash, Report 9 October, 2016](https://www.monetary-metals.com/insights/articles/partial-silver-crash-report-9-october-2016/) - On 18 September we said, “the market is in the grips of a mini silver mania (we would not dare say bubble, at least not without trigger warnings).” Since then, we have warned every week that the fundamentals of silver were lousy. Last week we said, “Buying silver right now—at least if you’re buying it
- [Putting Pennies in the Fusebox, Report 26 Mar, 2017](https://www.monetary-metals.com/insights/articles/putting-pennies-in-the-fusebox-report-26-mar-2017/) - Back in the old days, homes had fuse boxes. Today, of course, any new house is built with a circuit breaker panel and many older homes have been upgraded at one time or another. However, the fuse is a much more interesting analogy for the monetary system. When a fuse burned out, it was protecting
- [Putting the Latest Silver Crash Under a Lens](https://www.monetary-metals.com/insights/articles/putting-lastest-silver-crash-under-lens/) - On Thursday, July 6 the price of silver crashed. The move was very brief, but very intense. This article looks deeply into the trading action at the time of the crash.
- [Quantum Change in Gold and Silver Demand, 2 Jan 2018](https://www.monetary-metals.com/insights/articles/quantum-change-in-gold-and-silver-demand-2-jan-2018/) - Something unusual happened in both the gold and silver markets on Thursday, and we are not referring to prices but the spread between spot and futures prices.
- [Quantum Change in Gold Demand Continues, Report 7 Jan 2018](https://www.monetary-metals.com/insights/articles/quantum-change-in-gold-demand-continues-report-7-jan-2018/) - Wall Street sees a robust economy. We see a classic rising-risk-asset, borrow-to-spend, drive up GDP while it lasts boom: but we’re just eating our seed corn.
- [Phone Call from a Bank Manipulator](https://www.monetary-metals.com/insights/articles/phone-call-from-a-bank-manipulator-special-report-1-apr-2018/) - After our recent article debunking manipulation, we got a phone call from a man who told us how bank manipulation actually happens in the big banks.
- [Quantum Metal Lease #1 (gold)](https://www.monetary-metals.com/insights/articles/quantum-metal-lease-1-gold/) - Monetary Metals leases gold to Quantum Metal
- [Raising Rates to Fight Inflation, Report 24 Nov](https://www.monetary-metals.com/insights/articles/raising-rates-to-fight-inflation-report-24-nov/) - Armed with a false theory, monetary planners can wreak havoc.
- [Recovery: GDP vs MPoD, 2 November](https://www.monetary-metals.com/insights/articles/recovery-gdp-vs-mpod/) - Recent announcements about GDP says a recovery has begun. We disagree. Why? Bring on the MPoD.
- [Perversity Thy Name is Dollar](https://www.monetary-metals.com/insights/articles/perversity-thy-name-is-dollar/) - The perverse incentives of the dollar and the centrally planned falling interest rates lure the debtor deeper into inescapable debt.
- [Rare Gold-Silver Crystal Sighting](https://www.monetary-metals.com/insights/articles/rare-sighting-july-6-22/) - Is this the moment we've all been waiting for? We analyze signals from the silver market not seen since 2009 and why they matter to silver owners and users.
- [Open Letter to M. Benjamin Bernanke to Discuss your Misunderstandings about Gold](https://www.monetary-metals.com/insights/articles/open-letter-to-m-benjamin-bernanke-to-discuss-your-misunderstandings-about-gold-3/) - Keith Weiner New Austrian School of Economics Gold Standard Institute M. Benjamin Bernanke Chairman of the Federal Reserve Re: Open Letter to Discuss Your Misunderstandings About Gold Keith Weiner Dear M. Bernanke: You have publicly gone on record with some off-the-wall assertions about the gold standard. What made you think you could get away with
- [Open Letter to Hugo Salinas Price](https://www.monetary-metals.com/insights/articles/open-letter-to-hugo-salinas-price-5/) - Dear Mr. Price: I read your piece: "On the Use of Gold Coins as Money" (http://www.plata.com.mx/mplata/articulos/arti...iidarticulo=196). I think you ask the right question. This is the elephant in the room. Why do gold and silver not circulate? I love your analogy of the Swiss asserting that they will "allow" gold to have a monetary role,
- [Oil or Wheat as Money????](https://www.monetary-metals.com/insights/articles/oil-or-wheat-as-money/) - Why wouldn't oil or wheat or land or bonds work as money? To understand why, think of simpler example: manufacturers money-off coupons. To anyone buying the product, the coupon is worth its face value. So why don't coupons circulate as a kind of currency. Let's say you were planning on buying Charmin bath tissue today.
- [Murphy’s Law of Gold Analysis, Report 3 Jan, 2016](https://www.monetary-metals.com/insights/articles/murphys-law-of-gold-analysis-report-3-jan-2016/) - Perhaps it may be lesser known than his other Laws, but Murphy wrote one for the basis analysis. It goes like this. If we observe that the fundamental price..
- [Open Letter to GATA](https://www.monetary-metals.com/insights/articles/open-letter-to-gata/) - Irredeemable currencies will continue to be used in trade and finance, while they gradually fail drowning in debt. We believe the solution is paying interest on gold to pave the pathway for the world to move forward to the gold standard.
- [Open Letter to Congressman Alex Mooney: H.R. 5404, A Bill to Define the Dollar as a Fixed Weight of Gold](https://www.monetary-metals.com/insights/articles/open-letter-to-congressman-alex-mooney-h-r-5404-a-bill-to-define-the-dollar-as-a-fixed-weight-of-gold/) - Thank you for introducing H.R. 5404. I agree with your findings, especially that inflation undermines jobs and retirement. Yet I must say that the dollar cannot now be defined as a weight of gold.
- [News from Switzerland and Turkey](https://www.monetary-metals.com/insights/articles/news-from-switzerland-and-turkey/) - Surprisingly soft labor market in Switzerland. Turkey sells a gold bond.
- [Never Mind the Bollocks, Here’s the Avocado Toast, Report 16 Sep 2018](https://www.monetary-metals.com/insights/articles/never-mind-the-bollocks-heres-the-avocado-toast-report-16-sep-2018/) - The marginal utility of newly-produced movies is approaching zero, due to falling interest rates.
- [On Board Keynes Express to Ruin, Report 24 Mar](https://www.monetary-metals.com/insights/articles/on-board-keynes-express-to-ruin-report-24-mar/) - If there is ever a movement to reform our monetary system, it would come from the capitalists, gold bugs, or free-market economists. However, that is not in the cards today.
- [New Inflation Indicator, Report 14 Apr](https://www.monetary-metals.com/insights/articles/new-inflation-indicator-report-14-apr/) - This would be a useful inflation indicator, at the risk of adding more useless ingredients to consumer products.
- [Nonmonetary Cause of Lower Prices, Report 5 May](https://www.monetary-metals.com/insights/articles/nonmonetary-cause-of-lower-prices-report-5-may/) - In the same time that a monetarist can say “the Fed is inflating”, a Toyota worker said “if we move this tool caddy to the right, we can save two seconds on every bolt.”.
- [Obvious Capital Consumption, Report 28 Jul](https://www.monetary-metals.com/insights/articles/obvious-capital-consumption-report-28-jul/) - Socialism institutionalizes capital consumption. Our central banks are doing the same thing, but in a more sophisticated way.
- [Motte and Bailey Fallacy, Report 13 Oct](https://www.monetary-metals.com/insights/articles/motte-and-bailey-fallacy-report-13-oct/) - The defenders of evil institutions have a variety of clever fallacies. One ruse in their bag of tricks is this fallacy which shifts context mid-argument.
- [Open Letter to John Taft, Report 17 Dec](https://www.monetary-metals.com/insights/articles/open-letter-to-john-taft-report-17-dec/) - People criticize capitalism, but that is not the system we have today. Not even close.
- [Open Letter to Crispin Odey](https://www.monetary-metals.com/insights/articles/open-letter-to-crispin-odey/) - If gold were confiscated, it would have no effect on bank solvency, interest rates, or consumer prices. Fears of gold confiscation are not based on solid reasoning.
- [One of These Silver Days is Not Like the Other, 23 July](https://www.monetary-metals.com/insights/articles/one-of-these-silver-days-is-not-like-the-other-23-july/) - Silver has another big day, but market dynamics were different. Keith includes an open letter to Mercatus, responding to their swipe at the gold standard.
- [Open Letter to Gregory Mankiw, 7 December](https://www.monetary-metals.com/insights/articles/open-letter-to-gregory-mankiw/) - We’re pleased to see an NYT article from a Harvard econ prof concerned about falling interest rates. However, the dangers are even greater than he suggests.
- [Motivated Reasoning About Silver](https://www.monetary-metals.com/insights/articles/motivated-reasoning-about-silver/) - Despite rumors of solar panel demand and central banks buying gold, did the bull case for gold and silver just get a bit weaker last week? Read on to find out!
- [Nominal Dollar Interest vs Real Gold Interest](https://www.monetary-metals.com/insights/articles/nominal-dollar-interest-vs-real-gold-interest/) - By contrast to interest on dollars, interest on gold does not have to be adjusted for inflation. If you earn 3% interest on gold, you have a real 3% gain.
- [Oil, the Ruble, and Gold Walk into a Bar... ](https://www.monetary-metals.com/insights/articles/oil-ruble-gold-walk-into-a-bar/) - A narrative has formed about how Russia will change the monetary system via a link with rubles, oil, and gold. There's not just one problem, with this narrative
- [Oil, the Ruble and Gold Walk into a Bar... Part II](https://www.monetary-metals.com/insights/articles/oil-ruble-gold-bar-part-ii/) - What is the link between rubles, oil, and gold? What is meant by the word “link?” What impact will that “link” have, if any, on the global monetary system?
- [Oil, the Ruble and Gold Walk into a Bar...Part III ](https://www.monetary-metals.com/insights/articles/oil-the-ruble-and-gold-walk-into-a-bar-part-iii/) - Gold Standards, the good, the bad, and the ugly. Is it even possible to return to a gold standard? Is Russia leading the push, or do we need something else?
- [Open Letter to Lex Fridman and Michael Saylor](https://www.monetary-metals.com/insights/articles/fridman-saylor/) - The first thing I want to say is—well done! The monetary system faces grave problems and discussing them is of vital importance.
- [Monetary Facts](https://www.monetary-metals.com/insights/articles/monetary-facts/) - Milton Friedman said that if a country had bad economic policies, its currency would weaken, which would restore balance. Imports would drop and exports would rise. Japan's insane policy has so far crushed the yen by 22%. The results? As Mish writes, imports +9.4%, exports +3.8%. Their trade deficit fell to the worst level in decades.
- [Monetary Metals Supply and Demand Report: 11 May, 2014](https://www.monetary-metals.com/insights/articles/monetary-metals-supply-and-demand-report-11-may-2014/) - This was another short week, with Monday a bank holiday in the UK. Through Tuesday, the prices of the metals seemed to want to hold onto the increase that was sparked by an unemployment report. It wasn’t until Wednesday that the prices began to sag, almost but not quite to the pre-unemployment report levels again
- [Monetary Metals Silver Headfake Report: 22 June, 2014](https://www.monetary-metals.com/insights/articles/monetary-metals-silver-headfake-report-22-june-2014/) - Something extraordinary occurred this week. On Wednesday, the Fed made a routine announcement. That day, the price of silver was rising, but not out of the normal. Fireworks began on Thursday, and in 6 hours, the price of silver skyrocketed by 5%. We have never before changed the headline or format of the Supply and
- [Monetary Metals Supply and Demand Report: 5 Oct, 2014](https://www.monetary-metals.com/insights/articles/monetary-metals-supply-and-demand-report-5-oct-2014/) - How much higher can the dollar go? Betting on the Fed’s paper has been one helluva speculation. No doubt the Fed’s credit quality has been falling, but powerful forces are driving it up, such as desperate debtors clutching for cash to calm their creditors (sorry, couldn’t resist). The dollar was up this week, from 25.5
- [Monetary Metals Brief 2015](https://www.monetary-metals.com/insights/articles/monetary-metals-brief-2015/) - It’s the start of a new year. The question on everyone’s mind is whither the prices of gold and silver? This Brief presents our answer (and the full Monetary Metals Outlook 2015 report gives our reasoning). One approach to the question of price is to draw a line, extrapolating the past trend into the future.
- [Monetary Metals Supply and Demand Report: 8 Mar, 2015](https://www.monetary-metals.com/insights/articles/monetary-metals-supply-and-demand-report-8-mar-2015/) - Last week, we borrowed a phrase from Gandalf in the Lord of the Rings. We said it felt like, “the deep breath before the plunge”. We added, “We don’t necessarily mean a plunge in the price of gold measured in dollars. It could be a plunge in the price of the dollar. And there are
- [Monetary Metals Supply and Demand Report: 15 Mar, 2015](https://www.monetary-metals.com/insights/articles/monetary-metals-supply-and-demand-report-15-mar-2015/) - Last week, we talked about currencies. This week, let’s look at what the dollar is worth. No, we don’t mean purchasing power, which is just the inverse of consumer prices. Every day, every business that wants to remain alive is busy cutting costs. Real prices are in free fall, and some dollar prices too. For
- [Monetary Metals Gold to Hit $64,000 Report: 24 May, 2015](https://www.monetary-metals.com/insights/articles/monetary-metals-gold-to-hit-64000-report-24-may-2015/) - The Bloomberg headline thunders, “Chinese Gold Standard Would Need a Rate 50 Times Bullion’s Price”! The text of the article follows up on this assertion with a price of $64,000 an ounce. Since it’s common Internet Knowledge that China is moving to a gold standard, it’s a fact that gold is going to $64,000. Everyone
- [Monetary Metals Supply and Demand Report: 28 June, 2015](https://www.monetary-metals.com/insights/articles/monetary-metals-supply-and-demand-report-28-june-2015/) - The price of gold sagged all week. The price of silver took a similar journey, though it was up on Monday. On the week, they were down 25 bucks and 28 cents, respectively. On Friday around midnight Arizona time, there was a flash crash. We will publish a forensic analysis of this event late on
- [Monetary Metals Supply and Demand Report 12 July, 2015](https://www.monetary-metals.com/insights/articles/monetary-metals-supply-and-demand-report-12-july-2015/) - Last week, we concluded with this: “So now, for the first time in about two years, the fundamental price of silver is above the market price, about $0.35 over. … Unless you really like to trade the bleeding edge of a signal change, you may not want to jump in here. Silver’s newfound scarcity could
- [Monetary Metals Supply and Demand Report 19 July, 2015](https://www.monetary-metals.com/insights/articles/monetary-metals-supply-and-demand-report-19-july-2015/) - The prices of the monetary metals cascaded downward this week, and the ratio of the gold price to the silver price rose accordingly. Many analysts and speculators are puzzled. With everything going on in the world, gold should go up. After all, China released its new gold holdings and the banking system in parts of
- [Monetary Metals Supply and Demand Report 26 July, 2015](https://www.monetary-metals.com/insights/articles/monetary-metals-supply-and-demand-report-26-july-2015/) - For those who are speculating on the dollar—i.e. most people—there was good news this week. The dollar rose almost a milligram, to 28.3mg gold. That’s a big gain, and welcome news for those who keep all of their eggs in the one dollar basket, perhaps because they don’t want to risk any of it on
- [Monetary Metals Supply and Demand Report 2 August, 2015](https://www.monetary-metals.com/insights/articles/monetary-metals-supply-and-demand-report-2-august-2015/) - You cannot understand gold if you think it goes up and down, that the dollar is money and therefore the measure of all things, including gold. This is a very bold statement, so let’s look a little closer. Mainstream articles often ask the question if gold is a good inflation hedge, which means: does gold
- [Monetary Metals Supply and Demand Report 9 August, 2015](https://www.monetary-metals.com/insights/articles/monetary-metals-supply-and-demand-report-9-august-2015/) - Last week, we left off with this. “Something is happening with gold…” It began in Dec 2008. To understand it, it is necessary to understand two principles. The first is that gold is money and the dollar is credit, which currently has nontrivial value. A dollar is worth 28.4mg gold. To understand the second, let’s
- [Monetary Metals Brief 2016](https://www.monetary-metals.com/insights/articles/monetary-metals-brief-2016/) - Monetary Metals' annual outlook for precious metal markets with forecasts for gold and silver.
- [Monetary Metals Brief 2018](https://www.monetary-metals.com/insights/articles/monetary-metals-brief-2018/) - Monetary Metals' annual outlook for precious metal markets with forecasts for gold and silver.
- [Monetary Paradigm Reset, Report 5 August 2018](https://www.monetary-metals.com/insights/articles/monetary-paradigm-reset-report-5-august-2018/) - Most people are not stupid. The problem is that they are stuck in a false paradigm, which blinds them to the truth.
- [Monetary Consequence of Tariffs, Report 12 August 2018](https://www.monetary-metals.com/insights/articles/monetary-consequence-of-tariffs-report-12-august-201/) - Einstein never proposed a monetary theory of relativity.
- [Modern Monetary Theory: A Cargo Cult, Report 20 Jan 2019](https://www.monetary-metals.com/insights/articles/modern-monetary-theory-a-cargo-cult-report-20-jan-2019/) - A cargo cult goes through the motions, and imbues a talisman with magical properties to bring the free goodies.
- [More Squeeze, Less Juice, Report 7 Jul](https://www.monetary-metals.com/insights/articles/more-squeeze-less-juice-report-7-jul/) - How do we measure a true picture of the strength of the economy? How much juice do we get per unit of squeeze?
- [Money and Prices Are a Dynamic System, Report 1 Dec](https://www.monetary-metals.com/insights/articles/money-and-prices-are-a-dynamic-system-report-1-dec/) - Quantity analysis of money and prices makes the mistake of thinking in static terms, but the real economy is dynamic.
- [Monetary Metals Gold Brief 2020](https://www.monetary-metals.com/insights/articles/monetary-metals-gold-brief-2020/) - Monetary Metals discusses how to look at the gold and silver markets, and their predictions for 2020.
- [Monetary Metals Gold Brief 2021](https://www.monetary-metals.com/insights/articles/gold-brief-2021/) - Our annual analysis of the gold and silver markets. We look at the market players, dynamics, fallacies, drivers, and price predictions for the coming year.
- [KeithGram: The 'Crash JP Morgan'Campaign'](https://www.monetary-metals.com/insights/articles/keithgram-the-crash-jp-morgancampaign-3/) - It is now the second anniversary of a campaign to "crash" JP Morgan by encouraging people to buy silver (see max Keiser http://www.youtube.com/watch?v=H4IBUTHyROs). The idea is that JP Morgan has a large naked short position in silver. If people buy physical silver it will drive the price up and deprive JP Morgan of the metal
- [Measuring Your Net Worth in Gold](https://www.monetary-metals.com/insights/articles/measuring-your-net-worth-in-gold/)
- [Keith Weiner on Capital Account - Gold and Silver Manipulation](https://www.monetary-metals.com/insights/articles/keith-weiner-on-capital-account-gold-and-silver-manipulation/) - Keith Weiner discusses Gold and Silver Manipulation with Lauren Lyster on Capital Account.
- [Japan Announces Purchase of European Bonds](https://www.monetary-metals.com/insights/articles/japan-announces-purchase-of-european-bonds/) - Japan will buy the bonds of the so-called “European Stability Mechanism”. (See http://www.bloomberg.com/news/2013-01-08/japan-to-buy-esm-bonds-using-forex-reserves-to-help-weaken-yen.html ) The ESM is an 80 billion euro pool of capital that can be levered up to 700 billion euros by selling bonds. Supposedly, 200 billion has to be kept safe but that remains to be seen. The ESM is a mechanism
- [Japanese Monetary Policy = Insanity](https://www.monetary-metals.com/insights/articles/japan-monetary-policy-insanity/) - After 20 years of trying to fight deflation, and 10 or 11 rounds of Quantitative Easing, now Japan is trying the same thing again and expecting a different result. Aside from proving that they are insane, it also proves that the widely accepted theory (rising money supply = rising prices and falling currency) doesn't work.
- [Measuring Gold Demand](https://www.monetary-metals.com/insights/articles/measuring-gold-demand/) - The World Gold Council asserts that gold demand fell 4% in 2012. Can you spot the fallacy?
- [Lies, Damn Lies, and Statistics](https://www.monetary-metals.com/insights/articles/lies-damlies-and-statistics/) - Homebuilder confidence increased in May. Lumber prices in the last two months? Not so much, down over 20%. When I was a kid, I saw many competing stereo receivers offering higher and higher wattage. It was pretty ridiculous to see these lightweight and flimsy boxes claiming to put out 500 watts or more. Clearly a
- [Latvian Deflation will Increase their Debt Burden](https://www.monetary-metals.com/insights/articles/latvian-deflation-will-increase-their-debt-burden/) - This article claims that falling prices will increase Latvia's burden of debt. It is not falling prices, but falling interest rates, that increase the burden of debt (and it is not just Latvia but the whole world, which has falling interest rates). Think of borrowing at the high level as selling a bond. Think of selling
- [Measuring Gold and Silver Supply and Demand](https://www.monetary-metals.com/insights/articles/measuring-gold-and-silver-supply-and-demand/)
- [Legal Tender Renders Planning Impossible](https://www.monetary-metals.com/insights/articles/legal-tender-renders-planning-impossible/) - There is much confusion over what the legal tender law does. I have read articles, written by people who are otherwise knowledgeable about economics, claiming that legal tender forces merchants to accept dollars under threat of imprisonment. Recently, I wrote a short article for Forbes clarifying how legal tender law works in the US. Legal
- [Like Dripping Silver Icicles](https://www.monetary-metals.com/insights/articles/like-dripping-silver-icicles/) - I don’t typically emphasize price charts in analyzing the market, however something unusual has been happening in the spot (physical) silver market. It did not happen in the silver futures market, nor in the gold market. I have been bearish on silver because of its supply and demand fundamentals, and the price action shown below
- [June 26 Silver Flash Crash: A Forensic Analysis](https://www.monetary-metals.com/insights/articles/june-26-silver-flash-crash-a-forensic-analysis/) - On Friday morning, at around midnight (Arizona time), the price of silver had a little crash. It dropped 30 cents in 11 minutes. More importantly, it dropped more than 10 cents in a single second. Then, the price rose above its level before the event. Here is a graph of the event, with each tick
- [Lions, Tigers, and Gold Bears, Oh My!](https://www.monetary-metals.com/insights/articles/lions-tigers-and-gold-bears-oh-my/) - We can’t count how many articles we saw today, bemoaning gold going down. The price action is bad for gold (whatever that means). China underreported their gold holdings. No, China doesn’t care about gold. No they want the price to go down so they can buy it cheap. No, they want to convince the IMF
- [Little Change to Supply and Demand Report 25 Oct, 2015](https://www.monetary-metals.com/insights/articles/little-change-to-supply-and-demand-report-25-oct-2015/) - At the risk of being boring, there’s not a lot to say about the markets for gold and silver this week (and frankly being on a challenging travel itinerary, flying from Vienna to Sydney to give a keynote at the Gold Symposium this week, is part of it). There was a modest drop in the
- [Light Thanksgiving Week Report 29 Nov, 2015](https://www.monetary-metals.com/insights/articles/light-thanksgiving-week-report-29-nov-2015/) - In this holiday-shortened week (Thanksgiving), the price of gold dropped $20 and silver 10 cents. Friday, when the price dropped the most, could not have had much liquidity as most Americans were out of work shopping or partying. Whatever they may have been buying, it sure wasn’t gold. We might be inclined to take the
- [Johns Fleeing a Burning Whorehouse, Report 17 July, 2016](https://www.monetary-metals.com/insights/articles/johns-fleeing-a-burning-whorehouse-report-17-july-2016/) - The prices of the metals were down this week, -$29 in gold and -$0.05 in silver. However, the gold to silver ratio dropped another fraction of a point. Keith was on a panel this week at FreedomFest, when the moderator asked the panelists for their view about the price of gold. Unsurprisingly, this being a
- [Merry Christmas, Report 26 December, 2016](https://www.monetary-metals.com/insights/articles/merry-christmas-gold-and-silver-report-26-december-2016-2/) - This will be a short Report, due to the Christmas and Boxing Day holidays (which is also why it is coming out on Monday evening Arizona time, a day later than our usual). We wish everyone a Merry Christmas! The price of gold moved sideways, whereas that of silver had a plunge on Friday. Below,
- [Mea Culpa, Report 9 April, 2017](https://www.monetary-metals.com/insights/articles/mea-culpa-report-9-april-2017/) - Dear Readers, I owe you an apology. I made a mistake. I am writing this letter in the first person, because I made the mistake. Let me explain what happened. I wrote software to calculate the gold basis and cobasis (and of course silver too). The app does not just calculate the near contract. It
- [Milking the Savers, Report 8 Apr 2018](https://www.monetary-metals.com/insights/articles/milking-the-savers-report-8-apr-2018/) - The reason to own gold is not price speculation. The reason to own gold is to opt out of being a creditor.
- [Liquidating Civilization, Report 22 Apr 2018](https://www.monetary-metals.com/insights/articles/liquidating-civilization-report-22-apr-2018/) - Pushing interest rates below zero and beyond allows borrowers to destroy capital, and show a profit doing so. This is not sustainable as one eventually runs out of capital.
- [Liquidity Preference Rising, Report 3 Jun 2018](https://www.monetary-metals.com/insights/articles/liquidity-preference-rising-report-3-jun-2018/) - what happens when investors’ time preference is violated? Liquidity is the substitute.
- [Keynes Was a Vicious Bastard, Report 17 Mar](https://www.monetary-metals.com/insights/articles/keynes-was-a-vicious-bastard-report-17-mar/) - Keynes laid out the path to the destruction of civilization itself. And he was smarter than most of his critics.
- [Keith Interviewed by Jay Taylor](https://www.monetary-metals.com/insights/articles/keith-interviewed-by-jay-taylor/) - Keith Interviewed by Jay Taylor
- [Keith Weiner Gets Interviewed](https://www.monetary-metals.com/insights/articles/keith-weiner-gets-interviewed/) - interest on gold, Basel III, macroeconomics
- [Keith's World Tour Summer 2023](https://www.monetary-metals.com/insights/articles/keith-weiner-world-tour-summer-2023/) - Monetary Metals CEO, Keith Weiner sets out on another around-the-world trip to raise awareness and to meet prospective clients. Follow his progress here.
- [Irredeemable Paper Money, Feature #451](https://www.monetary-metals.com/insights/articles/irredeemable-paper-money-feature-451-3/) - A rise in the rate of interest reduces the burden of debt that has been accumulated previously. And a fall in the rate of interest increases the burden of debt.
- [January Video Update](https://www.monetary-metals.com/insights/articles/january-video-update-3/) - New Years Resolution: Measure your net worth in Gold.
- [Is Silver a Good Trade Right Now?](https://www.monetary-metals.com/insights/articles/is-silver-a-good-trade-right-now/) - Report of tightness in the silver market are appearing all over the blogosphere. Does one trade this informaiton, or is there a better way to judge how tight the gold and silver markets really are? And therefore, is there a better way to trade the gold silver ratio
- [Irredeemable Currencies and the Fate of Europe](https://www.monetary-metals.com/insights/articles/irredeemable-currencies-and-the-fate-of-europe/)
- [Is this the Beginning of the End?](https://www.monetary-metals.com/insights/articles/is-this-the-beginning-of-the-end/) - The rate of interest on the 10-year Treasury has been ticking up. Some prognosticators are calling for rising rates, trouble at the Treasury (when they roll lower-interest bonds at a higher rate), and the Beginning of The End. Here is a graph to put it in perspective.
- [Is Bitcoin Money?](https://www.monetary-metals.com/insights/articles/is-bitcoin-money/)
- [Introduction to the Monetary Metals Supply and Demand Report](https://www.monetary-metals.com/insights/articles/introduction-to-the-monetary-metals-supply-and-demand-report/) - The Monetary Metals Supply and Demand Report is the only accurate picture of the fundamentals of the gold and silver markets.
- [Invitation: Event in NYC Sep 11](https://www.monetary-metals.com/insights/articles/invitation-event-in-nyc-sep-11/) - You are cordially invited to a discussion of the economy, markets, interest rates, commodities, speculation, investment, and of course the monetary metals and our unique approach to valuing them. Here is the agenda. 1pm to 2:30pm You cannot understand what’s happening in the markets with the conventional view. This view says that central banks print,
- [Invitation: Event in London Oct 2](https://www.monetary-metals.com/insights/articles/invitation-event-in-london-oct-2/) - You are cordially invited to a discussion of the economy, markets, interest rates, commodities, speculation, investment, and of course the monetary metals and our unique approach to valuing them. This seminar was successful in New York on Sep 11, and all the seats filled up. Here is the agenda. 1pm to 2:30pm You cannot understand
- [Is a 13 or 15 Handle Next for Silver? 22 Nov, 2015](https://www.monetary-metals.com/insights/articles/is-a-13-or-15-handle-next-for-silver-22-nov-2015/) - The price of gold dropped six bucks, and silver seven cents. Without much price action, let’s look a few other angles to gain some perspective. First, here’s the chart of both silver and the decidedly not-monetary metal copper. The Prices of Silver and Copper in Gold There’s a good correlation, with the biggest divergence being
- [Janet Yellen Lit the Fuse Report 20 Dec, 2015](https://www.monetary-metals.com/insights/articles/janet-yellen-lit-the-fuse-report-20-dec-2015/) - The prices of the metals were sagging. Silver was trading around $13.80. On Wednesday, Janet “Good News” Yellen said the magic words. The Federal Reserve hiked the federal funds rate by 25 basis points. The price of silver was surging in anticipation of the news (we assume). Within an hour or so of the announcement,
- [Introducing Yield Purchasing Power](https://www.monetary-metals.com/insights/articles/introducing-yield-purchasing-power/) - The monetary debate seems artificially limited. On one side is Federal Reserve policy based on discretion. On the other is policy based on rules. It’s Keynes vs. Friedman. It’s central planning of our economy based on the reactive whims of wise monetary planners vs. central planning of our economy based on the proactive rules written
- [Irredeemable Currency De-tooths Savers, Report 18 Feb 2018](https://www.monetary-metals.com/insights/articles/irredeemable-currency-de-tooths-savers-report-18-feb-2018/) - An irredeemable currency system traps dollars like cattle in a pen and disenfranchises savers: even if dollar holders get out by buying gold, the dollars remain.
- [Investing in Gold vs Gold Investing](https://www.monetary-metals.com/insights/articles/investing-in-gold-vs-gold-investing/) - Those who invest in gold look at the price in dollars whereas gold investors look at the interest rate in gold. Monetary Metals can give your gold interest.
- [Interview, Ted Talk, Gold Bug Hope](https://www.monetary-metals.com/insights/articles/interview-ted-talk-gold-bug-hope/) - Keith Weiner interviewed, Adam Carroll talks about real money (ie paper currency), and Paul Romer waxes eloquent about flawed models.
- [Is Lending the Root of All Evil? Report 24 Feb](https://www.monetary-metals.com/insights/articles/is-lending-the-root-of-all-evil-report-24-feb/) - Aristotle said, “The most hated sort [of moneymaking], and with the greatest reason, is usury, which makes a gain out of money itself, and not from the natural use of it.
- [Is Capital Creation Beating Capital Consumption? Report 3 Mar](https://www.monetary-metals.com/insights/articles/is-capital-creation-beating-capital-consumption-report-3-mar/) - Our monetary system is failing. With a falling interest rate, which causes both capital churn and conversion of one party’s wealth into another’s income...
- [Is Keith Weiner an Iconoclast? Report 28 Apr](https://www.monetary-metals.com/insights/articles/is-keith-weiner-an-iconoclast-report-28-apr/) - call us iconoclast if you must, but our motive is not to gore sacred oxen, but to help people understand the destructive trend.
- [Irredeemable Currency Is a Roach Motel, Report 9 June](https://www.monetary-metals.com/insights/articles/irredeemable-currency-is-a-roach-motel-report-9-june/) - The old Roach Motel commercials said that roaches can check in, but they can’t check out. An irredeemable currency is like that.
- [Is Now a Good Time to Buy Gold? Market Report 16 March Part Two](https://www.monetary-metals.com/insights/articles/is-now-a-good-time-to-buy-gold-market-report-16-march-part-two/) - Supply and Demand in the silver market
- [Is Now a Good Time to Buy Gold? Market Report 16 March](https://www.monetary-metals.com/insights/articles/is-now-a-good-time-to-buy-gold-market-report-16-march/) - After stocks and interest rates have crashed, now is a good time to ask the question.
- [It’s Only Paper, Market Report 27 Apr](https://www.monetary-metals.com/insights/articles/its-only-paper-market-report-27-apr/) - It’s tempting to think that the losses due to the government’s response to the virus are only paper. Wrong.
- [Is Inflation or Deflation Coming? 15 March](https://www.monetary-metals.com/insights/articles/inflation-or-deflation/) - Understanding the monetary and nonmonetary forces currently at play is important if you’re going to predict what comes next.
- [Is Inflation or Deflation Coming? Part 2](https://www.monetary-metals.com/insights/articles/inflation-or-deflation-part-2/) - Understanding the monetary and nonmonetary forces at play in the economy is important if you’re going to predict what comes next.
- [Is the Gold Standard the Economists' Punching Bag?](https://www.monetary-metals.com/insights/articles/is-the-gold-standard-the-economists-punching-bag/) - The gold standard is the punching bag in the economists’ gym, and David Beckworth and Patrick Horan are the latest to give it a good jab.
- [Inflation: An Expansion of Counterfeit Credit](https://www.monetary-metals.com/insights/articles/inflation-an-expansion-of-counterfeit-credit/) - The Keynesians and Monetarists have fooled people with a clever sleight of hand, convincing people to look at inflation to understand the monetary system.
- [In Defense of the Corporation](https://www.monetary-metals.com/insights/articles/in-defense-of-the-corporation-3/) - © April 28, 2012 by Keith Weiner Today, the government of the USA is in an accelerating transition. For the first 100 years (with a few exceptions) the government of the USA existed to set man free from men. The rights of the people were respected by the law and by the courts. And it
- [In a Gold Standard, How Are Interest Rates Set?](https://www.monetary-metals.com/insights/articles/in-a-gold-standard-how-are-interest-rates-set-3/) - Today, short-term interest rates are set by the diktats of the central bank. And long-term interest rates are set in a “market” in which the central bank is obliged to keep coming back to buy ever more bonds, and speculators front-run the central banks to buy ahead of them. The result has been that, for
- [In A Paper System, All Assets Are Backed by the Treasury Bond](https://www.monetary-metals.com/insights/articles/in-a-paper-system-all-assets-are-backed-by-the-treasury-bond-3/) - The next time someone blurts out that the dollar works just as well as gold (or better than gold!), an explanation of this should shut him up.
- [Impact of Germany’s Gold Repatriation](https://www.monetary-metals.com/insights/articles/impact-of-germanys-gold-repatriation/) - Germany has announced that it plans to take home all 374 tonnes of its gold stored at the Banque de France, and 300 out of 1,500 tonnes held at the Federal Reserve Bank of New York (http://www.ft.com/intl/cms/s/0/97970542-5fd2-11e2-b128-00144feab49a.html#axzz2I9UZ7iGA). Bill Gross of PIMCO tweeted: “Report claims Germany moving gold from NY/Paris back to Frankfurt. Central banks don’t
- [Ilinois Credit Downgrade](https://www.monetary-metals.com/insights/articles/ilinois-credit-downgrade/) - The state of Illinois owes $271B. That they acknowledge. This is owed to someone. Now their credit rating is downgraded again. People should be thinking about the creditors. Who are they? I don't mean vendors of supplies purchased by the state. I mean the bondholders, not just who own state debt but who own the debt
- [In Irredeemable Paper Money, Savings Is an Illusion](https://www.monetary-metals.com/insights/articles/in-irredeemable-paper-money-savings-is-an-illusion/)
- [How Not to Trade the Dollar](https://www.monetary-metals.com/insights/articles/how-not-to-trade-the-dollar-2/) - I hope this essay provides some food for thought. It is not my intention to insult or belittle anyone, but using humor and cold logic, to help people understand an abstract topic with many counterintuitive principles. The ultimate goal is to protect what you have and make some more (in that order). Gold is money.
- [Interest Rate Roadkill](https://www.monetary-metals.com/insights/articles/interest-rate-roadkill/) - Yield Curve Arbitrage Does a steepening yield curve help bank profits? It depends on whether a bank has already bought long bonds before the steepening curve makes them cheaper. If the banks already own those bonds, then the more the curve steepens, the more it inflicts losses and then the banks have to sell, which steepens the
- [In America, Government Pays You Interest. In Switzerland, You Pay Government.](https://www.monetary-metals.com/insights/articles/in-america-government-pays-you-interest-in-switzerland-you-pay-government/) - The old joke is, “(with a Russian accent) In America, you correct newspaper, but in Soviet Union, newspaper corrects you.” Switzerland is now experiencing the bond market equivalent. In America, the government pays you to borrow but in Switzerland you pay the government. All Swiss bonds have a negative yield out to 9 years. Negative
- [Interest on Gold Is the New Tempest in a Teapot](https://www.monetary-metals.com/insights/articles/interest-on-gold-is-the-new-tempest-in-a-teapot/) - Zero Hedge published an article on Canadian Bullion Services (CBS) last week. Other sites ran similar articles. The common thread through these articles, and in the user comments section, is that CBS is committing criminal fraud. Or, if not, then it’s a conspiracy by the Canadian government to confiscate gold. Terms like fractional reserve and
- [Inflation and Counterfeit Credit, Report 19 Nov 2017](https://www.monetary-metals.com/insights/articles/inflation-and-counterfeit-credit-report-19-nov-2017/) - We define inflation as the counterfeiting of credit, where a borrower has neither means or intent to repay. And the best example of fraudulent borrowing is …
- [Inflation Is Not Under Control, Report 3 Mar 2018](https://www.monetary-metals.com/insights/articles/inflation-is-not-under-control-report-3-mar-2018/) - The Fed says inflation is under control as CPI has only risen 2.6 times since 1982. In reality, investors’ Yield Purchasing Power has declined 16 times.
- [In Next Crisis, Gold Won’t Drop Like 2008, Report 19 August 2018](https://www.monetary-metals.com/insights/articles/in-next-crisis-gold-wont-drop-like-2008-report-19-august-2018/) - We cannot think of any gold-bearish differences between now and 2008. The differences are all gold-bullish by comparison.
- [Illicit Arbitrage Cut by Tax Cuts and Jobs Act, Report 3 Sep 2018](https://www.monetary-metals.com/insights/articles/illicit-arbitrage-cut-by-tax-cuts-and-jobs-act-report-3-sep-2018/) - Price fixing of interest rates causes conflict. Investors strike back, lobby to end municipal bond refinancing.
- [How to Fix GDP, Report 14 Jul](https://www.monetary-metals.com/insights/articles/how-to-fix-gdp-report-14-jul/) - The problem with GDP is that it does not take into account consumption of capital. Here’s one way to measure it.
- [I Know Usury When I See It, Report 4 Aug](https://www.monetary-metals.com/insights/articles/i-know-usury-when-i-see-it-report-4-aug/) - Do you know it, when you see it? To know it, you need a clear concept of what it is. So what is usury?
- [How Is Negative Interest Possible? Report 8 Sep](https://www.monetary-metals.com/insights/articles/how-is-negative-interest-possible-report-8-sep/) - People say that bonds are in a “bubble” and there will be a market backlash against negative rates. But it’s not possible.
- [How to Maintain a Bull Market after Covid](https://www.monetary-metals.com/insights/articles/how-to-maintain-a-bull-market-after-coronavirus-report-11-may/) - Many people are mystified by the disconnect between the real economy and the stock market. The explanation is simple.
- [Inflating a Silver Bubble, 5 August](https://www.monetary-metals.com/insights/articles/inflating-a-silver-bubble-5-august/) - Monday brought another silver spike. But the pattern we're seeing isn't the standard supply-and-demand stuff from Econ 101. It's different, but not obvious.
- [Inflation or Lockdown Whiplash?](https://www.monetary-metals.com/insights/articles/inflation-or-lockdown-whiplash/) - Only one question is open for debate - Is inflation transitory? Or is it running away? These are the wrong questions to ask about inflation. Read on for why.
- [Inflation and Gold: What Gives?](https://www.monetary-metals.com/insights/articles/inflation-and-gold-what-gives/) - In this Supply and Demand report we discuss Ireland buying gold for the first time in over a decade and the different theories of gold price movements.
- [Human Action in the Silver Market](https://www.monetary-metals.com/insights/articles/human-action-in-the-silver-market/) - We dispel the precious metal price conspiracy and show why telling the truth helps buyers enter the metals market for the right reason.
- [High Frequency Trading](https://www.monetary-metals.com/insights/articles/high-frequency-trading-3/) - The financial press and alternative investing blogosphere is all abuzz about proposed German controls that attack High Frequency Trading (http://www.cnbc.com/id/49174317). Government always justifies its coercive intrusion into markets by appeal to a sense of the "public good", and its interference never delivers the goodies as advertises (see my doctoral dissertation for a full explanation of
- [Gold Leaps Into Backwardation!](https://www.monetary-metals.com/insights/articles/gold-leaps-into-backwardation/) - Since late January, the February gold contract has been in backwardation. This means that one could make a profit by simultaneously selling a gold bar and buying a February contract. One would still have one’s gold plus a little extra. I coined the term “temporary backwardation” (https://www.monetary-metals.com/temporary-backwardation-the-path-forward-from-2008-3/), to describe this curious and very recent phenomenon.
- [Guest Post: Pater Tenebrarum - US Stock Market – Giddy Bulls Abound](https://www.monetary-metals.com/insights/articles/guest-post-pater-tenebrarum-us-stock-market-giddy-bulls-abound/) - Barron's Big Money Poll Bullish Consensus Reaches a Record High This week's Barron's magazine contains the latest Barron's 'big money' poll. Evidently they interviewed a herd – there was once again near unanimity on a number of markets. The bullish consensus on US stocks clocked in at a new all time high for the Barron's
- [Gold:Silver Ratio spikes over 66!](https://www.monetary-metals.com/insights/articles/goldsilver-ratio-spikes-over-66/) - Yesterday in the Gold Basis Report, we wrote: "...we reiterate that we are cautious about the price of silver (measured in grams of gold) and think the ratio is more likely to rise than to fall." Little did we know. As this 5-minute chart shows, the ratio rose to over 66(!) before coming back down
- [Help us select our new logo](https://www.monetary-metals.com/insights/articles/help-us-select-our-new-logo/) - We are in the process of upgrading our corporate image. Would appreciate your feedback on the following logo options. Please leave a comment on this post with your favorite option (1,2,3,or 4).
- [Guest Post: Western Bank Exposure to Mainland China Explodes Higher – Australia Vulnerable](https://www.monetary-metals.com/insights/articles/guest-post-western-bank-exposure-to-mainland-china-explodes-higher-australia-vulnerable/) - Author Pater Tenebrarum, Acting Man We recently cited the work of Sean Darby, equity strategist at Jefferies, regarding the exposure of Hong Kong banks to the Mainland (see: “How Dangerous is China's Credit Bubble for the World” for details). Although Hong Kong is technically part of China, it is a foreign country in terms of its
- [How Can the State Bank of India Pay Interest in Gold?](https://www.monetary-metals.com/insights/articles/how-can-the-state-bank-of-india-pay-interest-in-gold/) - How can the State Bank of India make a yield on gold? I asked some of my friends from India this question. I got two basic answers. One way they could is by...
- [Guest Post: Why is gold mining such a crappy business?](https://www.monetary-metals.com/insights/articles/guest-post-why-is-gold-mining-such-a-crappy-business/) - by Steve Saville Below is an excerpt from a commentary originally posted at www.speculative-investor.com on 12th October 2014. That gold mining has generally been a crappy long-term investment for almost five decades is evidenced by the following chart. The chart, much of the data for which were provided by Nick Laird of www.sharelynx.com, shows the ratio of the Barrons
- [Gold, Silver, and Horse Betting Report 13 Sep, 2015](https://www.monetary-metals.com/insights/articles/gold-silver-and-horse-betting-report-13-sep-2015/) - Consider the sport of betting on the sport of horse racing. It’s actually similar to the analysis of the gold and silver markets. How’s that? First, there is the manic-depressive crowd. Sometimes (as we are told—we don’t hang out at race tracks) the bettors sometimes get overly excited about a horse with slim chances to
- [Hedging in the Gold Miners](https://www.monetary-metals.com/insights/articles/hedging-in-the-gold-miners/) - There are two ways to run a gold mining company. One respects the simple fact that it is producing money. It is not eager to trade its the money it produces for government paper, legal tender laws be damned. It keeps its books in gold, and produces and trades to earn more money (i.e. gold).
- [Gold Price Drop of 6 Nov: Drilling Down](https://www.monetary-metals.com/insights/articles/gold-price-drop-of-6-nov-drilling-down/) - The price of gold dropped abruptly Friday morning (Arizona time). How much of a drop? $10.30, as measured by the bid on the December future. How abruptly? That move happened in under a second. At first, the price of gold in the spot market did not react. This caused what looks like a massive backwardation
- [Gold-Silver Ratio Breakout Report, 28 Feb, 2016](https://www.monetary-metals.com/insights/articles/gold-silver-ratio-breakout-report-28-feb-2016/) - The gold to silver ratio moved up very sharply this week, +4.2%. How did this happen? It was not because of a move in the price of gold, which barely budged this week. It was due entirely to silver being repriced 66 cents lower. This ratio is now 83.2. It takes 83.2 ounces of silver
- [Gold-Silver Ratio Reversal Report, 6 Mar, 2016](https://www.monetary-metals.com/insights/articles/gold-silver-ratio-reversal-report-6-mar-2016/) - So the price of silver rocketed up 80 cents, while the price of gold jumped $37. Silver is now more expensive than it was two weeks ago; the price decline of last week was more than overcompensated. This pushed the gold-silver ratio down about two whole points, with virtually the whole move on Friday. Last
- [Grave Silver Mistake](https://www.monetary-metals.com/insights/articles/grave-silver-mistake/) - We came across an article today, talking about silver supply troubles. We get it. The price of silver has rallied quite a lot, so the press needs to cover the story. They need to explain why. Must be a shortage developing, right? At first, we thought to just put out a short Soggy Dollars post
- [Good News and Bad News, Report 27 November, 2016](https://www.monetary-metals.com/insights/articles/good-news-and-bad-news-report-27-november-2016/) - Sometimes, we think that every story in the gold community has the same template: I have inside information to share with you My peeps are telling me that will happen If happens, then the gold price will go ballistic ( will happen, I just know it) So buy gold now, to front-run
- [Happy New Year, Report 2 January, 2017](https://www.monetary-metals.com/insights/articles/happy-new-year-gold-and-silver-report-2-january-2017/) - This weeks is also a short Report, and also a day later than normal, due to the New Year’s holiday. We hope everyone has a healthy, happy, and prosperous 2017! The prices of the metals moved up last week, except for Friday which was a bump in the road, especially for silver. Below, we will
- [Gold-Silver Divergence, Report 17 April, 2017](https://www.monetary-metals.com/insights/articles/gold-silver-divergence-report-17-april-2017/) - This was a holiday-shorted week, due to Good Friday, and we are posting this Monday evening due to today being a holiday in much of the world. Gold and silver went up the dollar went down, +$33 and +$0.53 -64mg gold and -.05g silver. The prices of the metals in dollar terms are readily available,
- [Gold’s Gone Wild!](https://www.monetary-metals.com/insights/articles/golds-gone-wild/) - The bid-ask spread in gold blew out on Tuesday, but it does not mean what most think it means.
- [Growing Dollar Demand, Silver Weirdness, Market Report, 15 June](https://www.monetary-metals.com/insights/articles/growing-dollar-demand-silver-weirdness-market-report-15-june/) - When debt rises, so does demand for money. Something happened in silver that is unprecedented: a contract headed into expiry had a rising basis.
- [How Do They Get Away With It?](https://www.monetary-metals.com/insights/articles/how-do-they-get-away-with-it/) - The government inflicts bad policies, with perverse outcomes. It consumes capital, and increases costs. How do they get away with it?
- [Gold Conspiracy Theories](https://www.monetary-metals.com/insights/articles/gold-conspiracy-theories/) - One of the conspiracy theories that's popular in the gold community right now is that when the CME and various brokers increased the margin required to hold silver, this caused the price to fall from $49 to $34. Of course, observing the silver basis does not confirm this claim. Today, Zero Hedge has a short
- [Gold Bonds: Averting Financial Armageddon](https://www.monetary-metals.com/insights/articles/gold-bonds-averting-financial-armageddon/) - After the near-collapse of the financial system in 2008, a growing number of people have come to realize that our monetary disease is terminal.
- [Gold Caught With Its Backwardation Showing](https://www.monetary-metals.com/insights/articles/gold-caught-with-its-backwardation-showing/) - With all the discussion on the Internet, some of it confusing, we thought a picture would be worth a thousand words. Backwardation is when there is a profit to decarry the metal. This is the simultaneous sale of metal in the spot market and purchase of metal in the futures market. Selling is on the
- [Gold Confiscation](https://www.monetary-metals.com/insights/articles/gold-confiscation/) - It is well known that in 1933, President Roosevelt confiscated the gold of U.S. citizens and made possession of gold illegal. He gave gold owners about $20 an ounce and when he was done, he raised the gold price to $35. The common telling of this story portrays it as a simple case of robbery.
- [Gold and Silver Sentiments Violently Diverged in 2013](https://www.monetary-metals.com/insights/articles/gold-and-silver-sentiments-violently-diverged-in-2013/) - There are two reasons why people buy gold and silver. The first is that they’re the monetary metals. Many people don’t want more than a certain exposure to the risks of the banking system. They hold dollars for liquidity and beyond that trade them for metallic money. This money is not for trading. The second
- [Gold Arbitrage and Backwardation Part I](https://www.monetary-metals.com/insights/articles/gold-arbitrage-and-backwardation-part-i/) - Professor Tom Fischer has written three papers[1][2][3] about gold backwardation and arbitrage. Across these three papers, he makes a case against the ideas of Professor Antal Fekete. I write this response solely on my own behalf. I do not speak on behalf of Fekete or his New Austrian school of Economics. I have two motivations
- [Gold Arbitrage and Backwardation Part II (the Lease Rate)](https://www.monetary-metals.com/insights/articles/gold-arbitrage-and-backwardation-part-ii-the-lease-rate/) - In Part I, we discussed the concept of arbitrage. We showed why defining it as a risk-free investment that earns more than the risk-free rate of interest is invalid. There is no such thing as a risk-free investment, and in any case, economics must be focused on the acting man rather than theoretical constructs. We
- [Gold Arbitrage and Backwardation Part III (Gold as a Commodity)](https://www.monetary-metals.com/insights/articles/gold-arbitrage-and-backwardation-part-iii-gold-as-a-commodity/) - In Part I, we discussed the concept of arbitrage. We showed why defining it as a risk-free investment that earns more than the risk-free rate of interest is invalid. There is no such thing as a risk-free investment, and in any case economics must be focused on the acting man rather than theoretical constructs. We
- [Gold and Silver Speculation](https://www.monetary-metals.com/insights/articles/gold-and-silver-speculation/) - There is a stark difference between the states of the markets for the monetary metals. The number of open futures contracts in gold is low, while in silver it’s high. First, let’s look at the data and then we’ll discuss what it means. Here is the graph showing the open interest. The picture is clear
- [Gold Costs 80oz of Silver, Report 21 Feb, 2016](https://www.monetary-metals.com/insights/articles/gold-costs-80oz-of-silver-report-21-feb-2016/) - The big news is that the gold-silver ratio closed at 80. This is not only a new high for the move. It’s higher than it has been since 2008. It’s also exactly what Monetary Metals has been calling for. Last week, we said the gold fundamental was $1,450 and the silver fundamental was $14.90 (i.e.
- [Gold Is Slowing, Report 8 May, 2016](https://www.monetary-metals.com/insights/articles/gold-is-slowing-report-8-may-2016/) - The price of gold moved down slightly this week, while that of silver dropped more substantially—1.9%. We don’t see much decrease in the enthusiasm yet from this minor setback. This was a shortened week due to the May Day holiday outside the US. Let’s look at the only true picture of supply and demand fundamentals.
- [Gold Demand Falling, Report 15 May, 2016](https://www.monetary-metals.com/insights/articles/gold-demand-falling-report-15-may-2016/) - The price of gold moved down about sixteen bucks, while that of silver dropped about three dimes. In other words, the dollar gained 0.3 milligrams of gold and 0.04 grams of silver. We continue to read stories of the “loss of confidence in central banks.” We may not know the last detail of what that
- [Gold is Not Going to $10000, Report 24 July, 2016](https://www.monetary-metals.com/insights/articles/gold-is-not-going-to-10000-report-24-july-2016/) - The prices of the metals were down again this week, -$15 in gold and more substantially -$0.57 in silver. Stories continued to circulate this week, hitting even the mainstream media. Apparently gold is going to be priced at $10,000. Jump on the bandwagon now, while it’s still cheap and a bargain at a mere $1,322!
- [Gold and Silver Supply and Demand Report, 14 August, 2016](https://www.monetary-metals.com/insights/articles/gold-and-silver-supply-and-demand-report-14-august-2016/) - "Gold gets dug out of the ground in Africa, or someplace. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it."
- [Gold Data Science, Report 28 May, 2017](https://www.monetary-metals.com/insights/articles/gold-data-science-report-28-may-2017/) - The price of gold went up $12 this week, and that of silver $0.50. That’s not bad for gold and silver owners, and not good for the vast majority who are all-in on the dollar (though they don’t think of it that way). Since we began publishing this Supply and Demand Report four and a
- [Gold is a Giant Ouija Board, Report 25 Feb 2018](https://www.monetary-metals.com/insights/articles/gold-is-a-giant-ouija-board-report-25-feb-2018/) - Gold’s trading action is like a giant Ouija Board, with each group of traders having a thumb on it. Why does the price “planchette” move as it does? This is the dynamic we study.
- [Gold Backwardation in Swiss Francs](https://www.monetary-metals.com/insights/articles/permanent-gold-backwardation-report-30-sep-2018/) - Gold is in permanent backwardation already, but not where you expect!
- [Gold Bullion International Lease #1 (gold)](https://www.monetary-metals.com/insights/articles/gold-bullion-international-lease-1-gold/) - Monetary Metals leases silver to Gold Bullion International
- [Gold and Silver Price Fundamentals Update](https://www.monetary-metals.com/insights/articles/update-on-gold-and-silver-price-fundamentals-sep-14-2021/) - Let's revisit some of our fundamental analysis on gold and silver prices that we last mentioned in our August 23 report. Silver and gold scarcity is rising.
- [Gold and Silver: Breaking Out? Or Breaking Down?](https://www.monetary-metals.com/insights/articles/breaking-out-or-breaking-down/) - Is this time different for metals or is it buyers of futures using margin accounts to maximize their hoped-for returns of $ on a quick flip of a metal position?
- [Fractional Reserve Banking](https://www.monetary-metals.com/insights/articles/fractional-reserve-banking-2/) - The issue is that the bank is contractually obligated to its depositors but will be unable to honor its obligations. This is a mathematical inevitability.
- [Fractional Reserve Is Not the Problem](https://www.monetary-metals.com/insights/articles/fractional-reserve-is-not-the-problem/) - In the United States, there are once again TV commercials advertising Adjustable Rate Mortgages (ARMs) for residential real estate. Today, I saw one from Quicken Loans promoted with the tagline “why pay more in interest charges now just to know what rate you will have in 2018?” (they are offering a 7-year “teaser” rate and
- [Four-Letter “G” Word Discussed on TV](https://www.monetary-metals.com/insights/articles/four-letter-g-word-discussed-on-tv/) - The title of the following video clip is Would Returning to Gold Standard End Currency Wars? Obviously, countries which use gold as money would have to accept the fact that gold cannot be devalued. This would be a huge improvement over today. Michael Woolfolk from Bank of New York Mellon takes the anti-gold position, and Komal
- [Forensic Basis Analysis of Apr 12-15 Gold Crash](https://www.monetary-metals.com/insights/articles/forensic-basis-analysis-of-apr-12-15-gold-crash/) - A forensic analysis of the gold and silver price crash of April 12-15, 2013. Instead of looking at price graphs, let’s look at a graph of the gold basis.
- [Going All-In On a Weak Argument](https://www.monetary-metals.com/insights/articles/going-all-in-on-a-weak-argument/) - In Poker, to go all in means to bet everything you have. I do not think it is an exaggeration to say that gold advocates have gone all in on inflation...
- [Gold and Silver Aren’t Getting Stronger, Report 29 May, 2016](https://www.monetary-metals.com/insights/articles/gold-and-silver-arent-getting-stronger-report-29-may-2016/) - The dollar moved up, though most people would say gold fell about $40, and silver 32 cents. In the mainstream view, the value of the dollar is 1/N (N is the quantity). So how could the dollar go up? Certainly, the quantity keeps on increasing. Our view is different. If you borrow dollars to buy
- [Gold and Silver Fundamentals Up, Report 28 August, 2016](https://www.monetary-metals.com/insights/articles/gold-and-silver-fundamentals-up-report-28-august-2016/) - The dollar exchange rates of the metals fell this week, with that of silver falling more. Friday’s trading action was notable, because at first markets (including the US stock market) interpreted comments by Fed Chair Janet Yellen as “dovish”—i.e. low interest rates will continue. This means rising money supply, and everyone “knows” that that means
- [Gold Always Wins, Report 6 November, 2016](https://www.monetary-metals.com/insights/articles/gold-always-wins-report-6-november-2016/) - This week the prices of the metals, as measured in terms of the much-abused and much-hated but much-preferred US dollar, went up. +$28 and +0.66 respectively. That’s a pretty big deal. So big, in fact, that a prominent voice for the use of gold as money tweeted about it. You may want to skip past
- [Friction and Gravity, Report 11 December, 2016](https://www.monetary-metals.com/insights/articles/friction-and-gravity-report-11-december-2016/) - The price action was mixed this week. Those hoping for dollar declines in gold terms were disappointed. However, silver gave them a sop as the price of the buck declined by one one-hundredth of a gram of silver. In Monetarist terms, gold went down $18 and silver up 11 cents. Monetarism, in its insistence that
- [Gnome Underpants Gold Model, Report 21 May, 2017](https://www.monetary-metals.com/insights/articles/gnome-underpants-gold-model-report-21-may-2017/) - There is a often-promoted plan to grow your wealth. Here’s the background. The dollar is going to be worthless. Soon! The reason is because [their peeps in high places tell them / the Chinese / end of the petrodollar / historical fiat currencies / Rothschild Jekyll Island Master Plan Private Fed / Fed printing] will
- [Gold and Silver Divergence, Report 5 Feb, 2017](https://www.monetary-metals.com/insights/articles/gold-and-silver-divergence-report-5-feb-2017/) - This week, the prices of the metals went up, with the gold price rising every day and the silver price stalling out after rising 42 cents on Tuesday. The gold-silver ratio went up a bit this week, an unusual occurrence when the prices are rising. Everyone knows that the price of silver is supposed to
- [Gold and Silver Price Drop of 3 July, 2017](https://www.monetary-metals.com/insights/articles/gold-and-silver-price-drop-of-3-july-2017/) - What happened on 3 July 2017 when price of gold dropped to $1,219, or -1.8%, and the price of silver fell to $16.11, or -2.9%?
- [Gold and Silver Capitulation Report, 7 July 2017](https://www.monetary-metals.com/insights/articles/gold-and-silver-capitulation-report-7-july-2017/) - The prices of the metals fell $29 and $1.02. We are interested in the fundamentals. Did the market change in a durable way? Are gold and silver being devalued? Is it time to capitulate and avoid the rush?
- [Gettin’ High on Bubbles, Report 15 Apr 2018](https://www.monetary-metals.com/insights/articles/gettin-high-on-bubbles-report-15-apr-2018/) - What the world needs is a stable monetary unit. The path to this stability is not paved by a skyrocketing gold price but with the return of the gold interest rate.
- [GDP Begets More GDP (Positive Feedback), Report 30 June](https://www.monetary-metals.com/insights/articles/gdp-begets-more-gdp-positive-feedback-report-30-june/) - There are positive feedback loops, where GDP-generating activities cause other GDP-generating activities. At least, while it lasts.
- [Gold and Silver Markets Start to Normalize, Report 4 May](https://www.monetary-metals.com/insights/articles/gold-and-silver-markets-start-to-normalize-report-4-may/) - The extraordinary bid-ask spreads and bases are coming down, in both gold and silver. The reason may surprise you.
- [Gold 1, Bitcoin 0](https://www.monetary-metals.com/insights/articles/gold-1-bitcoin-0/) - Coinbase, a leader of the crypto revolution has announced it's borrowing $2 Billion in dollars. Not bitcoin, dollars. Does anyone see the irony?
- [Falling Interest Rates and Duration Mismatch](https://www.monetary-metals.com/insights/articles/falling-interest-rates-and-duration-mismatch/) - Corporate executives have a choice. The right thing to do is accurately assess the useful life of the tool, hotel, or whatever they are going to buy with the...
- [Debunking Gold Manipulation](https://www.monetary-metals.com/insights/articles/debunking-gold-manipulation/) - Yesterday [Nov 29, as I wrote this on Nov 30], the December gold contract moved sharply into backwardation (it happened in silver also, but let’s focus on gold). This means that one could sell physical and simultaneously buy December to make a profit (please see the graph). So let’s look a little deeper. December basis
- [Falling Currencies](https://www.monetary-metals.com/insights/articles/falling-currencies/) - In 1913, the US Congress authorized the creation of the Federal Reserve. Its mandate was limited, but it grew over time to become the central planner of all things monetary. In 1933, President Roosevelt outlawed the ownership of gold. In 1944, the soon-to-be-victorious allied powers signed a treaty at Bretton Woods, agreeing to use the
- [Falling Interest Rates Destroy Capital](https://www.monetary-metals.com/insights/articles/falling-interest-rates-destroy-capital-4/) - I place the blame for Sudden Capital Death Syndrome on falling interest rates. The key to understanding this is to look at a bond as a security.
- [Distortions and Deflation](https://www.monetary-metals.com/insights/articles/distortions-and-deflation/) - Distortions and Deflation There is an interesting article on Zero Hedge with commentary by Bill Gross. There are two take-home points that I'd like to look at: 1. Investment decisions are distorted by low interest rates 2. Is "deflation" a rising dollar or debt defaults? It seems that corporations actually consider the rate of interest
- [EU Ponders Gold Backed Bonds](https://www.monetary-metals.com/insights/articles/eu-ponders-gold-backed-bonds/) - Portugul and Italy consider using their national gold reserves to back new debt issuance. Is this a good idea?
- [Deflation? It's not about falling prices!](https://www.monetary-metals.com/insights/articles/deflation-its-not-about-falling-prices/) - Here is what Deflation is really about... - falling real estate values - falling stock market values - falling employment - falling banking system - falling incomes - falling economy That's why governments and central banks are trying so hard to fight it (in vain). http://www.reuters.com/article/2013/01/21/us-spain-banks-protests-idUSBRE90K0N920130121
- [Dutch Deflation](https://www.monetary-metals.com/insights/articles/dutch-deflation/) - A bank, not in the PIIGSC (Portugal, Ireland, Italy, Greece, Spain, Cyrpus) is insolvent. It's in Netherlands. So the government is taking it over. Inflation is an expansion of counterfeit credit. Deflation, a forcible contraction of credit, is the inevitable consequence of inflation. - goal is to "shore up confidence" - Netherlands' deficit was already
- [Don't Short the Treasury Bond Just Yet](https://www.monetary-metals.com/insights/articles/dont-short-the-treasury-bond-just-yet/) - Keith Weiner discusses why interest rates prior to 1933 was set by the marginal saver and how the saver was removed from this process post 1933.
- [February 23, 2013](https://www.monetary-metals.com/insights/articles/the-last-contango-basis-report-23-feb-2013/) - The Last Contango Basis Report The downdraft in the dollar prices of the metals began in late January, with gold just under $1700 and silver over $32. This is not likely news to readers of the Last Contango Basis Report. Gold and Silver Price The purpose of this Report is to shed some light onto
- [Euro Backwardation](https://www.monetary-metals.com/insights/articles/euro-backwardation/) - Not too long ago, I wrote dollar backwardation. It's happening, not in the dollar, but in the euro in Cyprus. Zero Hedge writes the following. Banks have been closed all week, the threat of loss of part of one's deposits is still there, it is at best uncertain when banks will reopen, and capital controls
- [Don’t Trade Last Week’s Silver Story!](https://www.monetary-metals.com/insights/articles/dont-trade-last-weeks-silver-story/) - Since February of this year, there has been at least one silver contract in backwardation. Since May 31, the September contract has been backwardated. But that has now come to an end. Before we get to the graphs, let’s define our terms. Some people look at a graph of (cleared trade) prices. If they find
- [Fans of Central Banking Have an Achilles Heel](https://www.monetary-metals.com/insights/articles/fans-of-central-banking-have-an-achilles-heel/) - Most of my writing about the gold standard is about how it works, and how the paper dollar standard doesn’t. A casual conversation I had with someone recently underscored that there is an even stronger argument. Our opponents, those who support central banking and irredeemable paper money, have to make two cases. One is to
- [Falling Interest Causes Falling Wages](https://www.monetary-metals.com/insights/articles/falling-interest-causes-falling-wages/) - Interest rates have been falling for over three decades. Conventional economics has two things to say about this. One, inflation expectations are falling. Monetarists believe that the interest rate is set based on bond traders’ predictions of future price increases. Two, if employment and GDP are weak, then the central bank should increase the money
- [Deutsche Fuels Silver, Report 2 October, 2016](https://www.monetary-metals.com/insights/articles/deutsche-fuels-silver-report-2-october-2016/) - Last week, it was the Fed’s magic boosting up the price of silver. This week, the slow slide in the silver price resumed, going all week except during peak fear about the woes of Deutsche Bank. When it looked bleakest—and the potential size of the capital-eating fines was highest—there was a wicked little rally in
- [Dang It Gold’s Supposed to Go Up! Report 4 December, 2016](https://www.monetary-metals.com/insights/articles/dang-it-golds-supposed-to-go-up-report-4-december-2016/) - We’ve gone through a succession of events and processes that were supposed to make gold go up. The following list is by no means exhaustive: Quantitative Easing Bernanke’s Helicopter Drops Janet Yellen’s Keynesianism Obama’s Deficits (US government debt is now a hair away from $20,000,000,000—and that’s just the little part of it they put on
- [Fed Rate Hike Causes Gold Price Drop, Report 18 December, 2016](https://www.monetary-metals.com/insights/articles/fed-rate-hike-causes-gold-price-drop-report-18-december-2016/) - The price action was not what most of those in the gold community hoped for (or predicted). The price of gold dropped another $24 and that of silver nearly a whole dollar. The big news of course is that the Fed hiked rates another 25 basis points. So far, stock market speculators don’t seem to
- [Don’t Short This Dog, Report 20 Feb, 2017](https://www.monetary-metals.com/insights/articles/dont-short-this-dog-report-20-feb-2017/) - This week, the prices of the metals mostly moved sideways. There was a rise on Thursday but it corrected back to basically unchanged on Friday. This will again be a brief Report, as yesterday was a holiday in the US. Below, we will show the only true picture of the gold and silver supply and
- [Falling Discount, Gold and Silver Get Powelled, Report 29 Oct 2017](https://www.monetary-metals.com/insights/articles/falling-discount-gold-and-silver-get-powelled-report-29-oct-2017/) - In a free market for money, aka gold standard, no one has the power to manipulate interest rates, asset prices, yield purchasing power, or discount rates.
- [Debt and Profit in Russell 2000 Firms](https://www.monetary-metals.com/insights/articles/debt-and-profit-in-russell-2000-firms/) - 40% of the companies in the Russell 2000 index are unprofitable. That’s telling us something.
- [Dollar Supply Creates Dollar Demand, Report 2 June](https://www.monetary-metals.com/insights/articles/dollar-supply-creates-dollar-demand-report-2-june/) - Does an increase in the supply of dollars cause a decrease in the value of them?
- [Deflation Is Everywhere—If You Know Where to Look, Report 18 Aug](https://www.monetary-metals.com/insights/articles/deflation-is-everywhere-if-you-know-where-to-look-report-18-aug/) - Time preference is very low today, in contrast to the 1970’s. To get consumers to buy, manufacturers have to get creative with discounts.
- [Directive 10-289, Report 25 Aug](https://www.monetary-metals.com/insights/articles/directive-10-289-report-25-aug/) - The president of the United States of America Ordered American companies to move their manufacturing. This is not good.
- [Defaults Are Coming, Market Report, 22 June](https://www.monetary-metals.com/insights/articles/defaults-are-coming-market-report-22-june/) - Financial institutions invested in the bonds of travel-related businesses. This debt will be defaulted, and creditors will wish they had invested in gold.
- [Dissecting Gold and Silver Prices After Russian Invasion](https://www.monetary-metals.com/insights/articles/gold-silver-price-russian-invasion/) - We analyze the gold and silver price movements and what Russia invading Ukraine and increased global tensions mean for the precious metals market.
- [Forensic Analysis of Fed Action on Silver Price](https://www.monetary-metals.com/insights/articles/forensic-analysis-fed-silver/) - We zoom deep into the wacky silver market the last couple of days and analyze how the Fed's decision and speculators have altered the market.
- [Capitalism: Death By A Thousand Cuts](https://www.monetary-metals.com/insights/articles/capitalism-death-by-a-thousand-cuts/) - Capitalism died with Zero Interest Rate Forevah(TM). Capitalism is long since dead. Whatever the name for today’s failed system is, “capitalism” it is not...
- [Congress Passes Fiscal Cliff Deal](https://www.monetary-metals.com/insights/articles/congress-passes-fiscal-cliff-deal/) - We now see who are "millionaires and billionaires" in practice. They are individuals with income over $400,000 or married couples with income over $450,000. Their top tax bracket rises from 35% to 39.6%, an increase of 13%. The capital gains tax rate goes from 15% to 20%, an increase of 33%. The temporarily reduced payroll
- [Bye Bye Trillion Dollar Coin](https://www.monetary-metals.com/insights/articles/bye-bye-billion-dollar-coin/) - Obama's Treasury decides against the trillion dollar coin. Both parties and their voters want the spending to continue. The only real debate is over the pork and scoring points for one's team. Obama must feel he's got the leverage to make the Republicans tap out. http://www.businessinsider.com/treasury-rules-out-trillion-dollar-platinum-coin-2013-1
- [China Fantasy or China Reality](https://www.monetary-metals.com/insights/articles/china-fantasy-or-china-reality/) - It's become popular to theorize that China is smarter than the US, that China's economy is doing better, that China will rise to surpass the US, etc. This theory is false, in our opinion. China has massive government controls and intrusions into the market throughout the economy. This article (http://www.zerohedge.com/news/2013-01-23/what-really-goes-china) enumerates some of China's problems:
- [Cyprus Targets Its Savers in Bailout Agreement: Part I](https://www.monetary-metals.com/insights/articles/cyprus-targets-its-savers-in-bailout-agreement-part-i/) - After markets closed on Friday, it was announced that Cyprus worked out a deal with the European Central Bank, European Commission, and the International Monetary Fund (“the Troika”). Here is a typical article reporting on the story. Cyrpus has been in desperate need of a bailout, and was in discussions as early as June last
- [Cyprus Targets Its Savers in Bailout Agreement: Part II](https://www.monetary-metals.com/insights/articles/cyprus-targets-its-savers-in-bailout-agreement-part-ii/) - There is nothing like the pain of real losses to impress a principle deeply into people’s psyches. In Cyprus (and likely in other similarly situated countries) a lesson is now clearer to more people and businesses than it has yet been. The Euro-banking system cannot be trusted. Below are our analysis and predictions. We expect
- [Cyprus Forced Into Bailout Deal](https://www.monetary-metals.com/insights/articles/cyprus-forced-into-bailout-deal/) - Do you think that depositors in Cyprus are being taxed? That their money is being taken from them to go to the government in Cyprus or to Europe? Most analysis of the Cyprus bailout is wrong on this point. Cypriot banks are like all banks in one respect. They raise capital to buy assets that
- [Cyprus Collapse Triggers Unintended Consequences](https://www.monetary-metals.com/insights/articles/cyprus-collapse-triggers-unintended-consequences/) - Some people believe that by imposing losses on investors and reducing the Cyprus banking system liabilities, the European powers have addressed the problems in Cyprus (if harshly). Others think that it was just an unjust tax on depositors. I have written about the sequence of events. Cyprus banks borrowed money and bought Greek government bonds.
- [Crude Oil Supply and Demand](https://www.monetary-metals.com/insights/articles/crude-oil-supply-and-demand/) - We don’t normally analyze the crude oil market. However, there has been a huge price move (which may not be complete yet). With the endless rumors of deals that explain the move, we thought we would look at the spreads. The data shows a startling picture. You should approach supply and demand in this market
- [Curious Gold-Silver Ratio That Did Not Fall, Report 26 Feb, 2017](https://www.monetary-metals.com/insights/articles/curious-gold-silver-ratio-that-did-not-fall-report-26-feb-2017/) - This holiday-shortened week (Monday was President’s Day in the US), the price of the dollar fell. In gold, it fell almost half a milligram to 24.75mg, and prices in silver it dropped 30mg, to 1.7 grams of the white monetary metal. Flipped upside down, gold went up 23 notes from the Federal Reserve, and silver
- [Da Boyz Whacked Silver Again, Update 28 Nov 2017](https://www.monetary-metals.com/insights/articles/da-boyz-whacked-silver-again-update-28-nov-2017/) - Gold and silver prices dropped on Tuesday as Jay Powell testified before Congress. Gold recovered but silver did not. What accounts for this disparity?
- [Cheering for Bitcoin, Gold and Silver Report 17 Dec 2017](https://www.monetary-metals.com/insights/articles/cheering-for-bitcoin-gold-and-silver-report-17-dec-2017/) - Bitcoin shows there is a mainstream audience of millions looking for an alternative to the Fed’s failing fiat currency, something no Fed apologist can ignore.
- [Common Sense Monics, Report 10 Jun 2018](https://www.monetary-metals.com/insights/articles/common-sense-monics-report-10-jun-2018/) - What they teach in monetary economics today is nothing less than Lysenkoism.
- [Crying Wolf, Report 22 July 2018](https://www.monetary-metals.com/insights/articles/crying-wolf-report-22-july-2018/) - Sure, the world is going to end, but how much credibility remains for those who have predicted 17 of the last 0 ends of the world?
- [Central Planning Is More than Just Friction, Report 17 February](https://www.monetary-metals.com/insights/articles/central-planning-is-more-than-just-friction-report-17-february/) - Under monetary central planning, do people work at the same tasks they would have worked? Is the only consequence, that goods have a higher price (due to inflation)?
- [China’s Nuclear Option to Sell US Treasurys, Report 19 May](https://www.monetary-metals.com/insights/articles/chinas-nuclear-option-to-sell-us-treasurys-report-19-may/) - Can China use the nuclear option? Can it sell its holdings of US government bonds?
- [Central Planning Vs. Economics, Report 29 Dec](https://www.monetary-metals.com/insights/articles/central-planning-vs-economics-report-29-dec/) - Buy Gold Now, World to End on December 31
- [Cash is Toilet Paper, Market Report 23 March](https://www.monetary-metals.com/insights/articles/cash-is-toilet-paper-market-report-23-march/) - Cash is like toilet paper, but not in the way most people think!
- [Crouching Silver, Hidden Oil Market Report 20 Apr](https://www.monetary-metals.com/insights/articles/crouching-silver-hidden-oil-market-report-20-apr/) - Today, an ounce of silver can buy a barrel and a half of oil. And silver is dirt cheap!
- [Crude Goes Negative!](https://www.monetary-metals.com/insights/articles/crude-goes-negative/) - The price of crude oil fell way below zero on April 20. The spread between spot and future price rise to $58 a barrel. How to interpret this unprecedented event?
- [Condo and Currency Collapse](https://www.monetary-metals.com/insights/articles/condo-and-currency-collapse/) - The collapse of the Champlain Towers South Condo building in Miami provides a surprising number of insights into the collapse of a currency.
- [Banning Short Selling](https://www.monetary-metals.com/insights/articles/banning-short-selling-2/) - First, contrary to popular misconception, the purpose of the stock market is not to go up, ratcheting higher and never lower. Its purpose is price discovery.
- [Broken Hedges](https://www.monetary-metals.com/insights/articles/broken-hedges/) - Peter Tchir wrote a piece yesterday describing yet another hole in the banks’ balance sheets: I am not sure I fully understand it, but to me it looks something like this: A bank has a duration mismatch. Its funding is short-term, which means it must be rolled over frequently. This subjects the bank to the
- [Book Review: The Golden Revolution](https://www.monetary-metals.com/insights/articles/book-review-the-golden-revolution-3/) - There are many books on the market today about the coming collapse of the global dollar-based monetary system. Many of them purport to help the reader “profit” from the collapse(!) Others are filled (just like the blogosphere from which they often come) with dark, conspiratorial whispers, psychologizing of leaders in government and finance, and preposterous
- [Book Review: Free Market Revolution: How Ayn Rand's Ideas Can End Big Government](https://www.monetary-metals.com/insights/articles/book-review-free-market-revolution-how-ayn-rands-ideas-can-end-big-government-5/) - In Free Market Revolution, co-authors Yaron Brook and Don Watkins, colleagues at the Ayn Rand Institute, undertook a difficult task. Since Ayn Rand made the case for egoism as the morality of capitalism in Atlas Shrugged (and more pointedly in Capitalism: The Unknown Ideal), numerous books have argued that free markets produce wealth, discussing various
- [Be Careful What You Wish For](https://www.monetary-metals.com/insights/articles/be-careful-what-you-wish-for/) - Be Careful What You Wish For The German central bank is withdrawing its gold on deposit at the Federal Reserve and bringing it back to Germany (It Begins: Bundesbank To Commence Repatriating Gold From New York Fed). Most gold bugs are thinking about the gold "price" measured in dollars. They think that this will likely
- [Buying Growth, Not Sustainable](https://www.monetary-metals.com/insights/articles/buying-growth-not-sustainable/) - There is no way to make SS "actuarially sound", and there is no way for the government to massively distort the economy in a "business friendly way." It is not possible to make a sound annuity under an irredeemable currency. The interest rate is falling, which means dwindling income for the annuity. And of course
- [Bailouts and Moral Hazard](https://www.monetary-metals.com/insights/articles/bailouts-and-moral-hazard/) - Bailouts and Moral Hazard are not just for "banksters". The money quote from this piece about Nortel's bankruptcy is: "I'd rather end up on welfare than give our hard-earned assets to these vultures," Mills said in the statement" Mills admits he is not negotiating in good faith, with a taxpayer bailout of his personal finances
- [Big Debt in Little China](https://www.monetary-metals.com/insights/articles/big-debt-in-little-china/) - - Local governments to borrow for unneeded "infrastructure" - They acted under orders from Beijing - Unable to pay, they "rolled the debt over" - Li says it's OK, it takes time to amortize(!) - Yiping says it's fine when duration is mismatched - Peng says everyone does it - Most banks refuse to lend
- [Blowing Bubbles](https://www.monetary-metals.com/insights/articles/blowing-bubbles/) - Investor attitudes have become quite bullish again. Few want corporations to improve their balance sheets. And near-record numbers of them want corporations to spend money on capital projects. Congratulations Dr. Bernanke. You have reflated the credit bubble. Bets that when it bursts this time, the ensuing crisis will be even worse than the one in
- [Bitcoin Crashed. Again.](https://www.monetary-metals.com/insights/articles/bitcoin-crashed-again/) - When writing about economics (as opposed to trading), one does not expect to be proven right within days of publishing something. Things can take years to play out. On Monday, February 25, we published What Drives the Price of Gold and Silver? In that article, I wrote: If there is a credible rumor that the
- [Bank Deposits - The Final Backstop](https://www.monetary-metals.com/insights/articles/bank-deposits-the-final-backstop/) - Put this in perspective. The government of Cyprus borrowed money it had neither means nor intent to repay. Borrowing, for a government, means selling bonds. The Cyprus banks borrowed money, which for a bank means taking in deposits (among other sources of funds). They used that money they borrowed from their depositors to buy Cyprus
- [BitTulip](https://www.monetary-metals.com/insights/articles/bit-tulips/) - In the 17th century, the price of Dutch tulips ran up to incredible levels before collapsing, ruining many who participated in the first well-documented bubble. We are not knowledgable about horticulture, but we are sure that those Dutch tulips were fine specimens and produced wonderful flowers. And this is where bubbles generally begin. There is
- [BitFlashCrash](https://www.monetary-metals.com/insights/articles/bitflashcrash/) - A flash crash occurs when the bid is either very thin or disappears altogether. Under any selling pressure, the cleared price can fall to any level at least temporarily. By definition and by nature, money is not subject to flash crashes.
- [Bitcoin: Oh Why Did You Have to Crash?](https://www.monetary-metals.com/insights/articles/bitcoin-oh-why-did-you-have-to-crash/) - During the recent exponential rise in the price of Bitcoin, there were jokes all over the Internet about the fall of the dollar—more than 80% in Bitcoin terms. Why not measure the value of the dollar in terms of tulips? One must measure the more variable unit with the more constant. Dollars are used to
- [Bernanke "No Tapering": Silver Goes Up and Down Again](https://www.monetary-metals.com/insights/articles/bernanke-no-tapering-silver-goes-up-and-down-again/) - In February, I wrote What Drives the Price of Gold and Silver? If there is a credible rumor that the Fed is planning to further extend its “Quantitative Easing”, how would you expect the monetary metals to react? Typically, the gold price would rise and the silver price would rise even more. The question is why.
- [Bitcoin, Gold, and the Quantity of Money](https://www.monetary-metals.com/insights/articles/bitcoin-gold-and-the-quantity-of-mone/) - The popular view today is based on the linear Quantity Theory of Money. It seems to be common sense. If more units of a currency are issued, then logically...
- [Barclays Caught Red Handed Manipulating Gold](https://www.monetary-metals.com/insights/articles/barclays-caught-red-handed-manipulating-gold/) - It was all over the news last week, both mainstream and gold sites. Barclays was caught manipulating the gold price. They were fined £26M, and forced to pay a client who was damaged by their action. The trader who worked for Barclays, Daniel Plunkett, was also fined and banned from working in the financial sector.
- [Arizona Governor Ducey Vetoes Gold](https://www.monetary-metals.com/insights/articles/arizona-governor-ducey-vetoes-gold/) - In my testimony in support of the gold legal tender bill this year, I discussed failing pension funds. Retirees who count on their pension checks are being told that their monthly check will be reduced by up to 60%. This is devastating to them, obviously. What isn’t obvious is the cause. In the news coverage
- [Brexit Drives Gold Frenzy, Report 26 June, 2016](https://www.monetary-metals.com/insights/articles/brexit-drives-gold-frenzy-report-26-june-2016/) - The big news this week was that the British voted to exit the European Union. This was not the outcome expected by pundits, or the polls. “Risk on” assets were relentlessly bid up prior to the vote. For example, S&P 500 index futures had closed the previous Friday, June 17, at 2059. This Thursday, prior
- [But “We Owe It to Ourselves”, Report 28 May 2018](https://www.monetary-metals.com/insights/articles/but-we-owe-it-to-ourselves-report-28-may-2018/) - Declaring “we owe it to ourselves” is breathtaking dishonesty. Yes, some of us owe others of us and the aggregate sum is zero. But you cannot conclude from this that it’s not a problem.
- [Asset Inflation vs. Consumer Goods Inflation, Report 1 Sep](https://www.monetary-metals.com/insights/articles/asset-inflation-vs-consumer-goods-inflation-report-1-sep/) - The Quantity Theory of Money is a paradigm that can limit one’s ability to grasp the problem with the dollar.
- [Bitcoin Myths, Report 27 Oct](https://www.monetary-metals.com/insights/articles/bitcoin-myths-report-27-oct/) - With bitcoin back to its skyrocket phase, and with Keith speaking at a conference where gold and bitcoin were presented, it’s a good opportunity to revisit USD, AU, and BTC.
- [Buy Gold, Because...](https://www.monetary-metals.com/insights/articles/buy-gold-because/) - People are buying gold hoping to hedge against inflation. We offer a more compelling reason to own gold and discuss what it can do when you own it.
- [A Socialist's Proposed Fix for the Economy](https://www.monetary-metals.com/insights/articles/a-socialists-proposed-fix-for-the-economy/) - Charles Hugh Smith may not call himself a socialist. But I've always found this altruist, collectivist, populist undertone to his writing. Let's see what he wrote today. http://www.zerohedge.com/article/guest-post-you-want-fix-us-economy-heres-start He has an 8-point plan to fix the economy. The first thing I'll note is that he does not address the punitively low rate of interest set
- [A Politically Incorrect Look at Marginal Tax Rates](https://www.monetary-metals.com/insights/articles/a-politically-incorrect-look-at-marginal-tax-rates/) - In my last piece, The Laffer Curve and Austrian Economics, I argued that the “Laffer Maxima” moves depending on where the economy is in the boom-bust credit cycle. I used an example of a marginal restaurant business in the bust phase, which fails when the income tax rate on the people who live nearby rises
- [A Picture of Capital Destruction in Germany](https://www.monetary-metals.com/insights/articles/a-picture-of-capital-destruction-in-germany/) - Today, the European Central Bank announced that it was cutting interest rates. It also said that it was open to negative deposit rates. We are witnessing nothing less than the metastasis of monetary cancer. A falling interest rate causes the destruction of capital. Here is a picture of the rate falling from over 4% to
- [Are Japanese Banks on the Verge of Insolvency?](https://www.monetary-metals.com/insights/articles/are-japanese-banks-on-the-verge-of-insolvency/) - "...holdings in [gold] exchange-traded funds fell to the lowest in over four years..." as this article states. But is this a real relationship? Do holdings at the ETF necessarily fall with a falling gold price and rise with a rising gold price? The same thing has not occurred in SLV--amidst an even larger price drop than that of
- [A Picture of Gold Availability](https://www.monetary-metals.com/insights/articles/a-picture-of-gold-availability/) - The October gold future went into backwardation today, July 8. Below, we show the dates when previous gold contracts went into backwardation. As you can see, it is creeping farther and farther out. This is a picture of gold availability to the market drying up. – Apr first backwardated Feb 15, 30 trading days before
- [A Picture of Gold Availability Update](https://www.monetary-metals.com/insights/articles/a-picture-of-gold-availability-update/) - The December gold future went into backwardation today, July 31. Below, we show the dates when previous gold contracts went into backwardation. As you can see, it is creeping farther and farther out. This is a picture of gold availability to the market drying up. – Apr first backwardated Feb 15, 30 trading days before
- [A Monetary Cancer Metastasizes in Europe](https://www.monetary-metals.com/insights/articles/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
- [A Signal of Coming Collapse](https://www.monetary-metals.com/insights/articles/a-signal-of-coming-collapse/) - I proposed seven drivers of financial implosion in my dissertation. My recent writing has focused on two of them. One is the falling rate of interest on the 10-year government bond. As interest falls, the burden of debt rises. Since the falling rate incentivized more and more people to borrow, the number of indebted people,
- [A Salvo in the Battle for the Gold Standard](https://www.monetary-metals.com/insights/articles/a-salvo-in-the-battle-for-the-gold-standard/) - I wrote what I thought was a fairly simple article for Forbes on Tuesday. I noticed that some people really got it, and they were very excited. However, others were skeptical or asking questions that went into the weeds. The former tells me that I said something important, but the latter says that I said
- [And Then There Was None (Backwardation) 18 Oct, 2015](https://www.monetary-metals.com/insights/articles/and-then-there-was-none-backwardation-18-oct-2015/) - The dollar dropped about half a milligram gold, and 50mg silver. But who wants to read about the universal currency falling, failing? Few people are so barbarous as to think of the dollar’s value as being priced in terms a monetary metal. As all right thinking folks know, the value of these commodities is only
- [Another Look at the Gold Price Drop of 6 November](https://www.monetary-metals.com/insights/articles/another-look-at-the-gold-price-drop-of-6-november/) - The prevailing view in the gold community is that banks are speculators who bet on a falling price. To begin, they commit the casino faux-pas of betting on Do Not Pass at the craps table. When everyone wants the price to go up, the banks seem to want it to go down. Uncool. In contrast
- [A Sense of Foreboding, Report 10 July, 2016](https://www.monetary-metals.com/insights/articles/a-sense-of-foreboding-report-10-july-2016/) - This was a shortened week, due to the American holiday of July 4, celebrating the start of the war that lead to “Amexit”, 240 years ago. The prices of the metals were up this week, +$25 in gold and +$0.48 in silver. The gold to silver ratio dropped a fraction of a point, showing that
- [Arizona Considers Issuing a Gold Bond](https://www.monetary-metals.com/insights/articles/arizona-considers-issuing-a-gold-bond/) - The Arizona House of Representatives has convened an Ad Hoc Committee on Gold Bonds. The purpose is to explore if and how the state could sell a gold bond. This is an exciting development, as the issuance of a gold bond would be a major step towards a working gold standard. Yours truly is a
- [A Hint of Gold Backwardation, Report 15 Jan, 2017](https://www.monetary-metals.com/insights/articles/a-hint-of-gold-backwardation-report-15-jan-2017/) - Last month, we noted that there could be a trend change in progress. Not only are the prices of the metals rising (which is just a mirror-image of the dollar falling, from 27.6 milligrams of gold just before Christmas to currently under 26mg). But the scarcity of gold as we measure it, using the spread
- [Against Irredeemable Paper, Report 23 July 2017](https://www.monetary-metals.com/insights/articles/against-irredeemable-paper-report-23-july-2017/) - The antidote to the poisonous system of irredeemable paper currency is the gold standard. However, higher gold prices will not cause gold to circulate in the economy. The one thing that can make gold circulate is interest.
- [An Idea Whose Time Has Come, Report 1 July 2018](https://www.monetary-metals.com/insights/articles/an-idea-whose-time-has-come-report-1-july/) - Our monetary system is like the French Monarchy under King Louis XVI.
- [Another Gold Bearish Factor, Report 26 August 2018](https://www.monetary-metals.com/insights/articles/another-gold-bearish-factor-report-26-august-2018/) - Third world people use gold as collateral to borrow currency. This is all well and good until defaults spike, resulting in the sale of the gold.
- [A Golden Renaissance, Report 25 Nov 2018](https://www.monetary-metals.com/insights/articles/a-golden-renaissance-report-25-nov-2018/) - The gold standard is about boring old-school stuff like honesty, integrity, trust, and sound credit.
- [Are Stocks Overvalued, Report 24 Dec 2018](https://www.monetary-metals.com/insights/articles/are-stocks-overvalued-report-24-dec-2018/) - Everyone knows the Fed debases the dollar, but its distortion of time is not as well understood.
- [A Wealth Tax Consumes Capital, Report 6 Oct](https://www.monetary-metals.com/insights/articles/a-wealth-tax-consumes-capital-report-6-oct/) - A wealth tax is now all the rage. It is supposedly how to rectify wealth inequality. But what does it really do?
- [About that Spike in the Silver Price… 22 July](https://www.monetary-metals.com/insights/articles/about-that-spike-in-the-silver-price-22-july/) - This spike in the silver price is different than the others since 2011. Also, we comment on the possible appointment of Judy Shelton to the Fed.
- [And Silver Crashes Some More! 24 Sept](https://www.monetary-metals.com/insights/articles/and-silver-crashes-some-more-24-sept/) - Silver took a dive for the second time this week. Have we hit a floor? Time to watch & wait.
- [An Economist Rebukes The Economist](https://www.monetary-metals.com/insights/articles/an-economist-rebukes-the-economist/) - There are but two ways that man can deal with man: reason and force. Reason includes invention, design, entrepreneurship, finance, borrowing and lending, construction, production, manufacturing, mining, farming, trade, marketing, distribution, sales, and contract. Force is when someone picks up a gun. The gun is used to override the reason of the victim with the
- [A Curious Development in Silver](https://www.monetary-metals.com/insights/articles/a-curious-development-in-silver/) - I write frequently about supply and demand in the monetary metals, gold and silver. I’ve argued that one cannot just look at numbers pertaining to “famous” buyers or sellers like India or the People’s Bank of China, while ignoring thousands or millions of anonymous people who are on the other side of the trade. Who
- [100% of Mainstream Interest Rate Theory is Wrong](https://www.monetary-metals.com/insights/articles/100-of-mainstream-interest-rate-theory-is-wrong/) - The interest rate is pathological. It’s like an object that gets too close to a black hole. Once it falls below the event horizon, then a crash into the singularity of zero is inevitable.
- [A 14 Handle On Silver Again?! 1 Nov, 2015](https://www.monetary-metals.com/insights/articles/a-14-handle-on-silver-again-1-nov-2015/) - The prices of the metals dropped by 20 bucks and 20 pennies this week. In other words, the dollar went up ½ milligram gold or 30 mg silver. It wasn’t the euro, which ended the week unchanged. It wasn’t the US stock market, which ended up seven bucks. What was it? To answer this, we
- [A 14 Handle on Silver. Again. 8 Nov, 2015](https://www.monetary-metals.com/insights/articles/a-14-handle-on-silver-again-14-nov-2015/) - What’s the difference between the Supply and Demand Report 1 November and the Supply and Demand Report 8 November? Just a minor punctuation change. Last week, we asked (rhetorically) if silver would have a 14 handle again. This week, the market answered. Why yes, yes we can! Silver closed the week, trading at $14.78. This
- [A 14 Handle on Silver for Now. 15 Nov, 2015](https://www.monetary-metals.com/insights/articles/a-14-handle-on-silver-for-now-15-nov-2015/) - In gold terms, the dollar went up a small 0.15 milligrams gold. The price of the dollar in silver went up considerably more as a percentage, 0.08 grams to 2.18g. Most people would say that gold went down and silver went down (though we continue to ask why should the prices of the monetary metals
- [A Bumper Under that Silver Elevator, Report 14 May, 2017](https://www.monetary-metals.com/insights/articles/a-bumper-under-that-silver-elevator-report-14-may-2017/) - If you can believe the screaming headline, one of the gurus behind one of the gold newsletters is going all-in to gold, buying a million dollars of mining shares. If (1) gold is set to explode to the upside, and (2) mining shares are geared to the gold price, then he stands to get seriously
- [A Free Market for Goods, Services, and Money](https://www.monetary-metals.com/insights/articles/a-free-market-for-goods-services-and-money/) - The solution to the destructive interference of government in money and credit is to rediscover the principles of free markets and begin returning to a gold standard.
- ["Indisputable Proof"](https://www.monetary-metals.com/insights/articles/indisputable-proof/) - Japanese bond yields must be watched carefully now to see if this is the long-awaited collapse into the abyss or if the central bank can ferociously buy enough to stave of disaster for another while yet.
- [The rise and fall of sovereign gold bonds](https://www.monetary-metals.com/insights/articles/the-rise-and-fall-of-sovereign-gold-bonds/) - Both governments and private firms issue gold bonds. Learn why public gold bonds struggle while private gold bonds are on the rise.
- [Leasing vs “leasing” gold for a return ](https://www.monetary-metals.com/insights/articles/leasing-vs-leasing-gold-for-a-return/) - In this article we compare conventional bank leasing with true gold leases. A Monetary Metals lease is NOT a promise to pay gold later. That would be a loan.
- [Monetary Metals featured in CNBC on the rise of gold leasing](https://www.monetary-metals.com/insights/articles/monetary-metals-featured-in-cnbc-on-the-rise-of-gold-leasing/) - Gold owners are increasingly turning to leasing out their idle gold for income that's paid in gold, as gold prices remain at historic highs
- [Against Bitcoin financialization](https://www.monetary-metals.com/insights/articles/against-bitcoin-financialization/) - This article was written in August 2025 and originally appeared in the print edition of Bitcoin Magazine. Bitcoin maxi and MicroStrategy founder Michael Saylor is the poster child for a burgeoning new segment of bitcoin treasury companies. The tech giant (now rebranded simply as “Strategy”) has been at the vanguard of this movement, acquiring bitcoin
- [What is allocated gold pool?](https://www.monetary-metals.com/insights/articles/what-is-allocated-gold-pool/) - Gold and silver allocated “pool” are physical precious metals in a liquid or readily marketable form of a known weight and purity held at a Depository.
- [Why sell the gold you bought to escape the dollar? ](https://www.monetary-metals.com/insights/articles/why-sell-the-gold-you-bought-to-escape-the-dollar/) - Many buy gold to escape the falling dollar, only to sell that gold when the price rises, effectively going back into dollars they initially sought to avoid.
- [Distribution strategy unlocks growth](https://www.monetary-metals.com/insights/articles/distribution-strategy-unlocks-growth/) - Our Gold Yield Marketplace® is growing fast, driven in part by our new distribution partners like a OGold in concert with botim and Nasdaq-listed Streamex.
- [Taxing gold and silver yield](https://www.monetary-metals.com/insights/articles/taxing-gold-and-silver-yield/) - Discover how gold and silver yield is taxed in the U.S. and abroad, including reporting rules, cost basis, and key documents for accurate filing.
- [Gold doesn’t need a black swan to work](https://www.monetary-metals.com/insights/articles/gold-doesnt-need-a-black-swan-to-work/) - Gold doesn’t need a black swan to deliver. Explore how investors can use gold for portfolio balance, income generation, and long-term stability.
- [Bonds vs Gold: What does the data say?](https://www.monetary-metals.com/insights/articles/bonds-vs-gold-what-does-the-data-say/) - Gold alone can replace bonds in terms of diversification and long-term capital preservation. But gold with yield? That’s a different paradigm altogether.
- [The different storage options for gold](https://www.monetary-metals.com/insights/articles/the-different-storage-options-for-gold/) - It's important for investors to know what type of gold they own and how they own it. Different forms of gold storage come with different risks and costs.
- [Monetary Metals Yearly Outlook 2015](https://www.monetary-metals.com/insights/articles/monetary-metals-outlook-2015/) - We have consistently been making the contrarian call for a falling silver price and a rising gold to silver ratio for years. This leads to the logical question. Are we ready to change our call yet? This being the start of a new year, we wanted to take the opportunity to look at this question
- [Monetary Metals Yearly Outlook 2016](https://www.monetary-metals.com/insights/articles/outlook-2016/) - Monetary Metals' annual outlook for precious metal markets with forecasts for gold and silver.
- [Thoughtful Disagreement with Ted Butler - Gold Basis](https://www.monetary-metals.com/insights/articles/thoughtful-disagreement-with-ted-butler-gold-basis/) - This article follows on from Keith Weiner's response to Ted Butler's Thoughtful Disagreement challenge with a chart of the basis for130 gold future contracts.
- [Monetary Metals Yearly Outlook 2018](https://www.monetary-metals.com/insights/articles/monetary-metals-outlook-2018/) - Monetary Metals' annual outlook for precious metal markets with forecasts for gold and silver.
- [Scottsdale Precious Metals Lease #4 (Gold)](https://www.monetary-metals.com/insights/articles/scottsdale-precious-metals-lease-4-gold/) - Monetary Metals® is seeking offers from investors to lease gold to Scottsdale Precious Metals to finance its inventory of high-quality vintage and new jewelry.
- [The hidden cost of a rising gold price](https://www.monetary-metals.com/insights/articles/the-hidden-cost-of-a-rising-gold-price/) - Many gold owners don't realize that they are paying a hidden cost when the gold price rises. Thankfully there's a way to eliminate this cost entirely.
- [Ronnie Stoeferle: Why I Invested in Monetary Metals](https://www.monetary-metals.com/insights/articles/why-i-invested-in-monetary-metals/) - Monetary Metals is one, if not the only, company I know that is actively building the financial plumbing for a market that runs on sound money. Read why Ronnie Stoeferle invested in Monetary Metals.
- [Brent Johnson: Why I joined Monetary Metals' Advisory Board](https://www.monetary-metals.com/insights/articles/brent-johnson-why-i-joined-monetary-metals-advisory-board/) - Monetary Metals has both a grounded vision and a viable, executable plan to actually shift the global financial conversation meaningfully in gold’s direction.
- [Gold gains in Gallup’s latest poll](https://www.monetary-metals.com/insights/articles/gold-gains-in-gallups-latest-poll/) - Every April Gallup surveys Americans to find out what they believe is the best long-term investment and this year gold overtook stocks in popularity.
- [How does gold perform during elections?](https://www.monetary-metals.com/insights/articles/how-does-gold-perform-during-presidential-elections/) - Regardless of who wins, we will continue to provide opportunities for our clients to build wealth in an asset that has stood the test of time.
- [Understanding rich gold vs poor gold](https://www.monetary-metals.com/insights/articles/rich-gold-poor-gold/) - With Monetary Metals, you can transform your gold into an income-generating asset that aligns with Robert Kiyosaki’s investing framework.
- [Gold Outlook Report 2025 Brief](https://www.monetary-metals.com/insights/articles/gold-outlook-report-2025-brief/) - Monetary Metals 2025 Gold Outlook Report is here. We share our predictions on the gold and silver markets for the coming year and how to prepare.
- [Comparing gold vs the S&P 500](https://www.monetary-metals.com/insights/articles/gold-vs-the-sp-500/) - What does the data say about investing in gold versus investing in stocks? We analyze price performance and how adding a yield to gold enhances returns.
- [The impact of tariffs on gold and silver](https://www.monetary-metals.com/insights/articles/what-happens-if-the-us-slaps-tariffs-on-gold-and-silver/) - If tariffs are imposed on gold and silver will their prices rise, fall, or stay the same? We explain facts and myths when it comes to gold prices and tariffs.
- [Do indicators point to market declines?](https://www.monetary-metals.com/insights/articles/do-indicators-point-to-potential-further-stock-market-declines/) - As equity markets face sharp falls, many investors wonder if this correction is temporary or just the beginning of a serious reversal for stocks
- [What Is Undermining the Banks? ](https://www.monetary-metals.com/insights/articles/what-is-undermining-the-banks/) - It’s only common sense, that to cause this many bank failures all over the world, that unnatural if not supernatural forces must be at work.
- [The Voldemort Effect in the Gold Market](https://www.monetary-metals.com/insights/articles/the-voldemort-effect-in-the-gold-market/) - Gold market analysts have for puzzled for years over the unusual behavior of the market and no one has been able to identify the hidden source of demand...
- [Monetary Metals April Fools Articles](https://www.monetary-metals.com/insights/articles/april-fools-articles/) - Here at Monetary Metals we take our mission seriously. And that includes making you laugh on the first of every April with our April Fools articles!
- [Keith Weiner interviewed on Run Your Mouth by Robbie "The Fire" Bernstein](https://www.monetary-metals.com/insights/articles/run-your-mouth/) - CEO of Monetary Metals Keith Weiner gives a ton of insights into interest rates, zombie companies, inflation and more with Comedian Robbie "The Fire" Bernstein.
- [Backwardation Profit Taking, Report 13 November, 2016](https://www.monetary-metals.com/insights/articles/backwardation-profit-taking-report-13-november-2016/) - The big news this week is that Donald Trump was elected to be the next president of the United States. Whether due to his comments about restructuring the government debt, tariffs on imported goods, or other economic concerns, many expected news of his election to push up the price of gold. They were wrong. Every
- [Alchemy Rediscovered by Research Scientist](https://www.monetary-metals.com/insights/articles/alchemy-rediscovered-by-research-scientist-report-1-april/) - Could creating gold from lead really stimulate the economy 1,600 times better than printing dollars? Color us skeptical, that is, until we spoke with Dr. Mus.
- [Recurring ACH Purchase Tutorial](https://www.monetary-metals.com/insights/articles/recurring-ach-purchase-tutorial/) - With our monthly recurring ACH purchases feature, you can schedule recurring purchases of gold and silver, directly from your client portal.
- [How we think about gold and silver](https://www.monetary-metals.com/insights/articles/how-we-think-about-gold-and-silver/) - Five market participants interact to form a constantly changing dynamic. This is the only way to analyze the supply and demand fundamentals for gold and silver.
- [Is Gold About To Go Mainstream?](https://www.monetary-metals.com/insights/articles/gold-mainstream/) - Merrill Lynch just disclosed an investment thesis called FAANG 2.0. It’s a fascinating idea and gold plays a prominent role. Let’s unpack it.
- [Gold Outlook 2024 Brief](https://www.monetary-metals.com/insights/articles/gold-outlook-2024-brief/) - Every year we take an in-depth look at the market dynamics and drivers and finally, give our predictions for gold and silver prices over the coming year.
- [Gold Outlook Brief 2022](https://www.monetary-metals.com/insights/articles/gold-outlook-brief-2022/) - Monetary Metals gives a peek into how we view the precious metals space and what key indicators and price drivers to look out for gold and silver in 2022.
- [Heat Death of the Economic Universe](https://www.monetary-metals.com/insights/articles/heat-death-rand-centre/) - So when those two things are going opposite directions, debt is going up and GDP is going down, then that is completely unstable. That's thermonuclear.
- [Best Episodes of 2023](https://www.monetary-metals.com/insights/articles/best-episodes-of-2023/) - The Gold Exchange podcast features top guests who help untangle market complexity and offer their takes on how economic and policy changes affect l markets.
- [COMING SOON: The Gold Exchange Podcast with Keith Weiner](https://www.monetary-metals.com/insights/articles/coming-soon-podcast/) - Podcast launching soon! Sign up here.
- [The Fed’s Demand Destruction: What It Means for You and Me](https://www.monetary-metals.com/insights/articles/fed-demand-destruction/) - The Fed's demand destruction policy is monetary quackery, like the Medieval practice of bloodletting. The more blood they took, the worse the patients got...
- [Freedom from Financial Repression](https://www.monetary-metals.com/insights/articles/freedom-from-financial-repression/) - Monetary Metals is on a mission to right this wrong. The company's Gold Fixed Income investment offers an alternative to Financial Repression.
- [Monetary Innovation in the Ancient World](https://www.monetary-metals.com/insights/articles/monetary-innovation-in-the-ancient-world/) - Let’s tell the story of the ancient city of Orinthus. They had monetary innovation that was millennia ahead of their time, or ours for that matter...
- [Gold & Silver ETFs: The Fine Print](https://www.monetary-metals.com/insights/articles/gold-silver-etfs-the-fine-print/) - Gold and silver ETFs are all the rage right now. But before you ride that train? Here are a couple things to consider, in case you didn’t know.
- [How to Invest in Gold Better than Ray Dalio](https://www.monetary-metals.com/insights/articles/invest-in-gold-better-than-ray-dalio/) - You could invest in gold better than Ray Dalio and Bridgewater by treating it not just like an ordinary commodity, but as a yield-generating capital asset.
- [Can Interest on Gold Outpace Inflation?](https://www.monetary-metals.com/insights/articles/interest-on-gold-outpace-inflation/) - In light of the recent transitory inflation we’re facing how can you generate a yield that will beat inflation? The answer involves that four-letter word: gold.
- [Gold Under the Mattress vs Gold Investments](https://www.monetary-metals.com/insights/articles/gold-under-mattress/) - “If you can’t hold it in your hand, you don’t own it.” While there is truth in this saying, investing by these words alone could prove a costly mistake.
- [We Need the Sound Money Virus](https://www.monetary-metals.com/insights/articles/we-need-the-sound-money-virus/) - Healthy economies, stable interest rates and financial institutions that serve their constituents instead of political whims. Doesn’t that sound refreshing?
- [How Much is the Gold Cube Worth?](https://www.monetary-metals.com/insights/articles/how-much-is-the-gold-cube-worth/) - When we heard that an artist had designed a gold cube as an art installation in the middle of Central Park we couldn’t help but start doing a little math on it.
- [Six Reasons Why Gold is the Best Money](https://www.monetary-metals.com/insights/articles/six-reasons-gold-best-money/) - Why is gold so uniquely suited to be money? Here are our top six reasons why we think gold is the best money, and why dollars and bitcoin don’t even come close.
- [Robbie the Fire Breakdown](https://www.monetary-metals.com/insights/articles/robbie-the-fire-breakdown/) - Our CEO Keith Weiner talked about so many interesting and counterintuitive topics with Rob that we thought it would be nice to give viewers a breakdown.
- [It’s Time for TINA to Retire](https://www.monetary-metals.com/insights/articles/time-for-tina-to-retire/) - In the world of trends, history repeats more than it rhymes. Things which were considered “in” decades ago, reemerge. Inflation is the latest trend to reemerge.
- [CEO Keith Weiner on MishTV](https://www.monetary-metals.com/insights/articles/keith-weiner-mishtv/) - Mish and Keith talk about how the dollar is not close to losing reserve currency status and why many financial pundits can't seem to understand why.
- [Monetary Metals CEO Keith Weiner Interviewed on RealVision](https://www.monetary-metals.com/insights/articles/realvision-mikegreen/) - CEO Keith and RealVision's Mike Green discuss how Monetary Metals increases gold’s value proposition by paying interest on gold and silver holdings.
- [Analysis Featured In Gold We Trust Report 2022](https://www.monetary-metals.com/insights/articles/igwt-2022/) - This report features macroeconomic analysis and contribution from Monetary Metals CEO Keith Weiner on "How to Understand Gold’s Supply and Demand Fundamentals".
- [Investments, Speculations and Money by Paul Belanger](https://www.monetary-metals.com/insights/articles/investment-speculation-money-belanger/) - The differences between investments, speculation, and money are of great importance to anyone who wants to have an investment philosophy.
- [CEO Keith Weiner on Real Talk with Zuby](https://www.monetary-metals.com/insights/articles/real-talk-zuby/) - Monetary Metals CEO Keith Weiner was on Real Talk with Zuby discussing the difference between gold and "digital gold", the problems with the economy and more.
- [Unit of Account and Current Valuations by Paul Belanger](https://www.monetary-metals.com/insights/articles/unit-of-account-belanger/) - Lending dollars is therefore inherently speculative. This article will discuss the potential success of a speculation in bonds and if it is favorable today.
- [Bitcoin Volatility is a Feature, Not a Bug](https://www.monetary-metals.com/insights/articles/bitcoin-volatility/) - The following is not a prediction for bitcoin’s price in 2022. We don’t know what the price will be in the short term, and neither does anyone else. It is a look at the economics of bitcoin. First off, bitcoin is not a Ponzi scheme. A Ponzi is a fraud, in which the sponsor promises
- [Keith Weiner on Palisades Radio](https://www.monetary-metals.com/insights/articles/keith-weiner-on-palisades-radio/) - Vincent Lanci is the Owner and Founder of Echobay Partners LLC. In his appearance on the popular Gold Palisades Radio show, Lanci mentioned CEO Keith Weiner's commentary in the annual In Gold We Trust Report. In the report Keith discusses gold backwardation and why gold is different than all other commodities. "Gold has been mined
- [What the Heck Is Happening to Silver?!](https://www.monetary-metals.com/insights/articles/what-the-heck-is-happening-to-silver/) - We discuss the recent news of JP Morgan’s spoofing and why the monetary metals are behaving so oddly with our proprietary gold and silver charts.
- [Soho Forum Debate: Gold vs Bitcoin](https://www.monetary-metals.com/insights/articles/soho-forum-debate-gold-vs-bitcoin/) - On Tuesday, July 26, 7:00 PM ET at the Mises Institute in Auburn, Alabama, Gene Epstein will be moderating a debate on the question: Has gold lost its glitter?
- [Moneychanger Interview with Keith Weiner](https://www.monetary-metals.com/insights/articles/moneychanger-interview/) - Franklin Sanders of the Monechanger interviewed Keith Weiner on how Monetary Metals is working to restore gold and silver as money that circulates.
- [Smart Investor Interviews Keith Weiner](https://www.monetary-metals.com/insights/articles/smart-investor-interview/) - Ralph Malisch of Smart Investor, interviewed CEO of Monetary Metals, Keith Weiner on the economic issues facing the global economies.
- [The Knockout Blow to Crypto](https://www.monetary-metals.com/insights/articles/the-knockout-blow-to-crypto/) - Government-caused inflation persists, so the UFC is right to be thinking outside of the dollar box. But there’s a better solution than hyper-volatile crypto.
- [Keith Weiner on the VoiceAmerica Business Channel](https://www.monetary-metals.com/insights/articles/jay-taylor-voice-america/) - CEO Keith Weiner returns to popular radio show Turning Hard Times into Good Times hosted by Jay Taylor. Jay argues that the U.S. government hates gold.
- [Interest Rates Cannot Go Up Far, Or Hold for Long](https://www.monetary-metals.com/insights/articles/interest-rates-cannot-go-up-far-or-hold-for-long/) - Despite higher inflation rates and the actions of the Federal Reserve, we show how interest rates cannot go up, or stay up, for long. Today is not like 1970.
- [Is the Yield on Gold Enough?](https://www.monetary-metals.com/insights/articles/is-the-yield-on-gold-enough/) - A yield on gold is an attractive alternative to falling yields in dollars or the negative yield with costs of vaulting your precious metals. But...
- [How to Build and Destroy a Pension Fund System in 22 Easy Steps](https://www.monetary-metals.com/insights/articles/destroy-pension-fund-22-steps/) - Monetary Metals CEO Keith Weiner gave a talk at the New Orleans Investment Conference on how to build and destroy a pension fund system in 22 easy steps.
- [Gold 2.0 - How to Upgrade your Gold with Monetary Metals](https://www.monetary-metals.com/insights/articles/gold-2-0-how-to-upgrade-your-gold/) - VP of Marketing Dickson Buchanan gave a presentation on the benefits of Gold 2.0 to investors at the New Orleans Investment Conference. What is Gold 2.0?
- [The Fed has a Hammer, and You’re a Nail](https://www.monetary-metals.com/insights/articles/fed-hammer-your-nail/) - In order to save, they destroy. In order to contain, they unleash. In order to stabilize, they destabilize. It would be comedic, if it wasn’t so tragic.
- [Sam Bankman-Fried FTX’ed Up](https://www.monetary-metals.com/insights/articles/sbf-ftxed-up/) - Last week the cryptocurrency exchange FTX, which was recently valued at $32 billion, imploded. Although the tragedy continues, let’s summarize the events...
- [Keith Weiner Interviewed on Ticker News](https://www.monetary-metals.com/insights/articles/ticker-news/) - CEO Keith Weiner joins Ticker News Insight to talk about the success of gold bonds, failing fiat currencies, and what investors can expect from gold.
- [The Current Yield Curve Inversion, Explained](https://www.monetary-metals.com/insights/articles/yield-curve-explained/) - The Fed has massively inverted the yield curve. We explain why investors might be frontrunning themselves and why the long-term rate won’t budge.
- [CEO Keith Weiner Quoted in Barron's](https://www.monetary-metals.com/insights/articles/keith-weiner-quoted-barrons/) - CEO Keith Weiner's commentary was featured in Barron's. In an article discussing "Why silver is outperforming gold" and the implications for the global economy.
- [2023 Gold Outlook Webinar](https://www.monetary-metals.com/insights/articles/2023-gold-outlook-webinar/) - In the live 2023 Gold Outlook Webinar, CEO Keith Weiner commented on the conclusions of the Gold Outlook Report and answered attendees' questions on markets...
- [Did the Fed just Pivot?](https://www.monetary-metals.com/insights/articles/did-the-fed-just-pivot/) - We explain why SVB was not an isolated incident and why other banks are also at risk. Is this the start of the Fed pivot and what does it mean for gold?
- [Why Can’t Banks Raise Their Rates on Deposits?](https://www.monetary-metals.com/insights/articles/why-cant-banks-raise-rates/) - Why haven’t banks raised their rates on customer deposits with interest rates rising? What does this imply for the broader banking system
- [Did Argentina Just De-Dollarize?](https://www.monetary-metals.com/insights/articles/argentina-dollarize/) - Argentina announces its plan to use Yuan to pay for imports as pundits fear de-dollarization. What would a beneficial de-dollarization would look like
- [Jeff Deist: Why I Joined Monetary Metals ](https://www.monetary-metals.com/insights/articles/jeff-deist-why-i-joined-monetary-metals/) - I am exceptionally pleased to join Monetary Metals after ten years at the Mises Institute. Offering yield on gold is both simple and yet novel...
- [The Risks of Safe Deposit Boxes](https://www.monetary-metals.com/insights/articles/risks-of-safe-deposit-boxes/) - Learn the risks associated with safe deposit boxes at commercial banks and explore sounder alternatives to protecting and growing your wealth.
- [Keith Weiner's Macroeconomic Equation](https://www.monetary-metals.com/insights/articles/macro-equation/) - Economists from the Moneterist School to popular writer Thomas Piketty have all attempted to use equations to predict economic outcomes.
- [How To Stay Ahead Of The Fed](https://www.monetary-metals.com/insights/articles/how-to-stay-ahead-of-the-fed/) - In the first episode of Debased, Jeff Deist explains why he joined Monetary Metals, what will happen with the banking crisis, and how to profitably align...
- [How Will A Central Bank Digital Currency Work?](https://www.monetary-metals.com/insights/articles/how-will-a-cbdc-work/) - What are the preconditions necessary for a FedCoin and why are they coming to the fore now? What will happen to banks? Could the Fed be lender of first resort?
- [What's Inside The Debt Ceiling Deal?](https://www.monetary-metals.com/insights/articles/whats-inside-the-debt-ceiling-deal/) - Jeff Deist explains what's lurking in the debt ceiling bill, why the debt is larger than most people think, and the reason politicians can't stop the madness.
- [Will Trump's Indictment Hurt the US Dollar?](https://www.monetary-metals.com/insights/articles/trump-indictment/) - Jeff Deist explains why the Trump indictment is more than just political, the future scenarios that are likely for the dollar, and why the rule of law is...
- [Understanding The US and Capital Controls](https://www.monetary-metals.com/insights/articles/understanding-capital-controls/) - On the latest Debased podcast episode Jeff Deist, Peter St Onge, and EJ Antoni discuss the US and the potential for capital controls and their consequences.
- [The 2024 Candidates VS the Fed](https://www.monetary-metals.com/insights/articles/the-2024-candidates-vs-the-fed/) - Jeff is joined by a panel of experts who dive into the 2024 Presidential Candidate's opinions on the Fed and Monetary Policy. Comic Dave Smith joins to give his opinion on RFK, Vivek, and more! Connect with Jeff and Monetary Metals on Twitter: @JeffDeist @Monetary_Metals Additional Resources Upgrade to Gold 2.0 Vivek Ramaswamy Interview Theory
- [Is the BRICS Currency Real or Hype?](https://www.monetary-metals.com/insights/articles/brics-real-or-hype/) - In this episode of Debased, host Jeff Deist, EJ Antonio, and David Waugh, discuss the proposed BRICS currency. Is it real or hype? They delve into mechanics...
- [Is Dollar Supremacy Over?](https://www.monetary-metals.com/insights/articles/is-dollar-supremacy-over/) - Jeff Deist, Alisdair Macleod, and the rest of the expert panel delve into the future of the US dollar and its position as the world's reserve currency.
- [Will Argentina have a Milei Moment?](https://www.monetary-metals.com/insights/articles/milei-moment/) - Milei is portrayed as a figure who understands the complexities of Argentina's economic challenges and advocates for drastic measures such as...
- [Is Bidenomics Working?](https://www.monetary-metals.com/insights/articles/bidenomics/) - Will Bidenomics steer the economy towards a recovery or into a recession? Jeff Deist and the Debased guests express their concerns and criticisms of Bidenomics.
- [Two-Factor Authentication Tutorial](https://www.monetary-metals.com/insights/articles/2fa-tutorial/) - Clients of Monetary Metals can watch their ounces grow, view monthly account statements, review current and past lease presentations, and purchase or sell metal, as well as other important features in their Client Portal. Monetary Metals offers Two-Factor Authentication (2FA) for clients who want increased security of their Client Portal. Below is a step-by-step guide
- [Reflections Over 2023](https://www.monetary-metals.com/insights/articles/reflections-2023/) - Every once in a while, everyone should put down his work tools, ake a step back, and survey where you’ve been and where you’re going.
- [Interview with BullionStar on intricacies between the physical and paper gold market](https://www.monetary-metals.com/insights/articles/interview-with-bullionstar-on-intricacies-between-the-physical-and-paper-gold-market/) - In April Keith and I met with Torgny Persson and Luke Chua from BullionStar while visiting Singapore to speak at the Mining Investment Asia conference. We both recorded interviews with them and the first one has just been released. Topics covered include: Trends in the physical gold market - flows into ETFs, impact of speculators
- [Swiss Customs Data Indicates Gold Flowing East to West](https://www.monetary-metals.com/insights/articles/swiss-customs-data-indicates-gold-flowing-east-to-west/) - Switzerland has just released its gold import/export figures for July and the summary below from www.goldchartsrus.com shows another big month of net exports. Swiss gold flows are worth looking at because Switzerland is home to over 5000 tonnes of refinery capacity (see this BullionStar article for more detail) as well as being a major vaulting
- [Yin and Yang](https://www.monetary-metals.com/insights/articles/yin-and-yang/) - During gold's bear market from 2011, the flow of gold out of ETFs drove the popularity of the West to East narrative not just among goldbugs but also bullion market professionals. It was a life raft I suppose that many clung to, to find hope as the price relentlessly fell, notwithstanding how much gold was
- [Gold Dividends Shows Demand for Receiving Income in Ounces](https://www.monetary-metals.com/insights/articles/gold-dividends-shows-demand-for-receiving-income-in-ounces/) - Earlier this week Resolute Mining announced that it was offering shareholders the option to receive their dividend payments in gold directly into a Perth Mint Depository account. The offer is limited to shareholders with more than 5,000 shares, as at a declared dividend of 1.7 cents per share that would only be $85 worth of
- [Silver Smoking Gun to Stop Dishonest Dealing](https://www.monetary-metals.com/insights/articles/silver-smoking-gun-to-stop-dishonest-dealing/) - The London Silver Fixing Antitrust Litigation included damaging chat logs provided by Deutsche Bank that reveal manipulation and collusion between bullion bank traders to “shade”, “blade”, “muscle”, “job”, “spoof” and “snipe” the silver market.
- [LBMA 2017 Forecasts (for the US dollar)](https://www.monetary-metals.com/insights/articles/lbma-2017-forecasts-for-the-us-dollar/) - Every year the London Bullion Market Association (LBMA) surveys the top precious metals analysts of bullion banks and consultancy firms for their forecasts for precious metal prices for the year ahead. We look at things a little differently, and would say that the analysts are forecasting the value of the US Dollar, priced in gold
- [Prohibition on Home Storage of Bullion in an IRA](https://www.monetary-metals.com/insights/articles/prohibition-on-home-storage-of-bullion-in-an-ira/) - The Industry Council for Tangible Assets, the voice of rare-coin and precious-metals dealers in Washington, has released a white paper cautioning against home storage of bullion in an IRA.
- [Backwardation, the Bank of England, and Falling Prices](https://www.monetary-metals.com/insights/articles/backwardation-the-bank-of-england-and-falling-prices/) - Backwardation indicates physical shortages and is associated with rising prices. So why did the gold price fall from 2013 to 2016 when GOFO was negative?
- [Open Letter to Warren Buffett on Gold](https://www.monetary-metals.com/insights/articles/open-letter-to-warren-buffett/) - Warren Buffett thinks gold is incapable of producing anything. That may have been true in the past but Monetary Metals offers a yield on gold, paid in gold.
- [Why Did JP Morgan Say "Money is Gold, Nothing Else"?](https://www.monetary-metals.com/insights/articles/why-did-jp-morgan-say-money-is-gold-nothing-else/) - The basis of banking is credit, is it not? Not always. That is an evidence of the banking, but it is not the money itself. Money is gold, nothing else.
- [Keith Interviewed on “Know Your Risk” Radio Show](https://www.monetary-metals.com/insights/articles/keith-interviewed-on-know-your-risk-radio-show/) - Keith was recently invited as a guest on Zach Abraham's "Know Your Risk" radio show alongside Brent Johnson, CEO of Santiago Capital. The two discuss gold...
- [Keith Interviewed by Swiss Fintech Magazine "10x10"](https://www.monetary-metals.com/insights/articles/keith-interviewed-by-swiss-fintech-magazine-10x10/) - The Swiss fintech information platform and online magazine profiles "The Next Generation of Finance" for the investment industry. Keith talked about...
- [Keith Interviewed by Silver Doctors to Discuss Permanent Gold Backwardation](https://www.monetary-metals.com/insights/articles/keith-interviewed-by-silver-doctors-to-discuss-permanent-gold-backwardation/) - Keith Weiner interviewed by Silver Doctors. He discusses a variety of topics like an exponentially rising gold price and permanent gold backwardation.
- [Why Gold, And Why Now?](https://www.monetary-metals.com/insights/articles/why-gold-and-why-now/) - Growing US debt, the dwindling yields of Treasury bonds, as well as their increasing risk. This May 2020 print article rings even more true now.
- [Open Letter to Ted Butler About Precious Metals Leasing](https://www.monetary-metals.com/insights/articles/open-letter-to-ted-butler-about-precious-metals-leasing/) - There's leasing, and then there's Monetary Metals Gold Fixed Income Leasing, with interest paid in metal, at a rate determined in a free-market auction.
- [Gold in a Coronavirus World](https://www.monetary-metals.com/insights/articles/gold-in-a-coronavirus-world/) - "The price of gold is rising, but that’s not the most important thing." That's the start of a compelling article our CEO, Keith Weiner, wrote this week about our current environment. In it, he illustrates your role - and mine! - as creditors in the ever-expanding US debt burden. Eye-opening, indeed. You can see it
- [5 Ways Oversubscription Can Benefit Investors](https://www.monetary-metals.com/insights/articles/5-ways-oversubscription-can-benefit-investors/) - Oversubscription? No worries. That's a signal your investment has liquidity, marketability, and that it's unlikely any single investor can take the deal down.
- [Stay Away From Gold?!?](https://www.monetary-metals.com/insights/articles/stay-away-from-gold/) - What?! Forbes Senior Contributor Larry Light wrote an opinion-piece titled “Stay the Hell Away From Gold.” Let's school him.
- [The Dollar Cancer and the Gold Cure](https://www.monetary-metals.com/insights/articles/the-dollar-cancer-and-the-gold-cure-interview/) - In this interview, Kerry Stevenson of the Gold and Alternative Investments Conference picks Keith Weiner's brain about money, credit, debt & gold.
- [The Dollar Cancer and the Gold Cure, Part 2](https://www.monetary-metals.com/insights/articles/the-dollar-cancer-and-the-gold-cure-interview2/) - This interview between Kerry Stevenson of the GAIC & Monetary Metals CEO Keith Weiner is the followup to a recent post, The Dollar Cancer and the Gold Cure. Stevenson is the Founder of the Gold and Alternative Investments Conference coming up in November. This time around, they cover the following topics: Why consuming capital is finite
- [The Future of Gold and Money: A Roundtable Discussion](https://www.monetary-metals.com/insights/articles/the-future-of-gold-and-money-roundtable-discussion/) - A roundtable discussion with Mises Institute’s Jeff Deist, Keith Weiner of Monetary Metals, and James Dale Davidson, author of The Sovereign Individual.
- [Gold and Alternative Investments Conference 2020](https://www.monetary-metals.com/insights/articles/gold-and-alternative-investments-conference-2020/) - Keith Weiner's keynote address on the nature of money, Fall 2019 at the Gold and Alternative Investments Conference in Sydney.
- [Why Austrian Economics Is on the Rise](https://www.monetary-metals.com/insights/articles/why-austrian-economics-is-on-the-rise/) - The internet is full of views on economics and finance. One of the movements swimming against the current is the Austrian school of economics.
- [Money Answers Show: Precious Metals Amid The Pandemic](https://www.monetary-metals.com/insights/articles/money-answers-show/) - CEO Keith Weiner joins Jordan Goodman to discuss Monday's gold dive, pension fund money managers, and what to expect if the Democrat agenda goes into effect.
- [The Problem with Record-Low Interest Rates](https://www.monetary-metals.com/insights/articles/the-problem-with-record-low-interest-rates/) - Keith Weiner on the GoldNewsletter podcast: record-low interest rates and how cheap borrowing comes at the expense of capital productivity.
- [InvestmentNews: An Old Bond Strategy is New Again](https://www.monetary-metals.com/insights/articles/investment-news/) - In early January, Monetary Metals announced the issuance of a bond paying principal and interest in gold - the first proper gold bond in 87 years. Jeff Benjamin from InvestmentNews covered the story. In addition to news and opinion writing, Jeff is the co-host of The InvestmentNews Podcast. Read the full story on the InvestmentNews website.
- [Financial Advisor: Gold Grows As Dollar Weakens](https://www.monetary-metals.com/insights/articles/financial-advisor/) - In January 2021, Monetary Metals announced the issuance of a bond paying principal and interest in gold - the first proper gold bond in 87 years. Karen DeMasters from Financial Advisor Magazine covered the story. Read the full article, Gold Grows as Dollar Weakens, on the Financial Advisor website.
- [Bitcoin: Better Than You Think](https://www.monetary-metals.com/insights/articles/bitcoin-better-than-you-think/) - The following is a guest submission from Monetary Metals client David S., responding to a recent article by CEO Keith Weiner. After learning of David's perspective, we invited a published response in the spirit of healthy debate & productive disagreement. As a proponent of both gold and bitcoin, I have a few responses
- [Private Debt Investor: Monetary Metals Issues Gold Bond](https://www.monetary-metals.com/insights/articles/private-debt-investor-monetary-metals-issues-gold-bond/) - In January 2021, Monetary Metals announced the issuance of a bond paying principal and interest in gold - the first proper gold bond in 87 years. Robin Blumenthal of PEI Media covered the story in Private Debt Investor. Read the full article, Monetary Metals Issues Gold Bond, on their website. (Free registration required).
- [The Theory of Interest and Prices](https://www.monetary-metals.com/insights/articles/theory-of-interest-and-prices/) - What do a famous broken bridge and Jimi Hendrix have in common with monetary effects on consumer prices? Short answer: a dynamic system & positive feedback.
- [Is Gold the Next Bitcoin?](https://www.monetary-metals.com/insights/articles/gold-the-next-bitcoin/) - Jonathan Hoenig and Seth Levine invited Keith Weiner on their show to discuss gold and bitcoin, including the advantages and disadvantages of each.
- [Wall Street Silver Interviews Monetary Metals' CEO Keith Weiner](https://www.monetary-metals.com/insights/articles/wall-street-silver-keith-weiner/) - The official Wall Street Silver Reddit channel invited Keith, CEO of Monetary Metals, on their youtube channel to discuss the precious metals markets. Keith provides analysis on where he thinks gold and silver prices are headed this year, and how things have changed for the US dollar system since Covid-19. They also discuss Keith's theory
- [James Delingpole Interviews Keith Weiner on the Delingpod](https://www.monetary-metals.com/insights/articles/james-delingpole-interviews-keith-weiner/) - James Delingpole invited Monetary Metals' CEO Keith Weiner on his show to discuss how to prepare for the coming hyperinflation. This wide-ranging conversation includes the fundamental reasons for investing in gold and silver and Monetary Metals' Gold Fixed Income investments, which pay interest on gold and silver. They discussed why John Maynard Keynes was a
- [Roundtable on Basel III and the Gold Price](https://www.monetary-metals.com/insights/articles/roundtable-on-basel-iii-and-the-gold-price/) - How will Basel III regulations impact the price of gold and silver? Keith Weiner was part of a roundtable discussion unpacking the effects of Basel III on gold.
- [Basel III and Gold Resource Center](https://www.monetary-metals.com/insights/articles/basel-iii-and-gold-resource-center/) - Welcome to the Basel III and Gold Resource Center! This page is a resource for gold investors who want to understand the impact of Basel III on gold markets.
- [Top Wealth Management Companies in Arizona](https://www.monetary-metals.com/insights/articles/top-wealth-management-companies-in-arizona/) - We were showcased as one of the top wealth management companies in Arizona by Daily Finance Magazine out of the UK. We build real wealth in real money - gold!
- [Celebrating Five Years of Interest on Gold](https://www.monetary-metals.com/insights/articles/celebrating-5-years-of-interest-on-gold/) - This month marks the five-year anniversary of Monetary Metals paying interest on gold. This post celebrates how far we've come and where we're headed!
- [Monetary Metals in Wealth Management, Townhall, Inside Sources, and Barron's](https://www.monetary-metals.com/insights/articles/monetary-metals-in-wealth-management-townhall-inside-sources-and-barrons/) - Keith Weiner and Monetary Metals were featured in several news outlets last month including Wealth Management Magazine, Townhall, Inside Sources, and a letter to the editor of Barron's. Here's a quick recap of each feature with a link to the original. InsideSources: Is the Gold Standard the Economist's Punching Bag? Inside Sources ran an article
- [Daniel LaCalle interviews Keith Weiner](https://www.monetary-metals.com/insights/articles/daniel-lacalle-interview/) - Daniel LaCalle invited Monetary Metals’ CEO Keith Weiner on his show to discuss inflation, lockdown effects and the future macroeconomic outlook for gold.
- [Palisades Gold Radio Interview](https://www.monetary-metals.com/insights/articles/new-palisades-gold-radio-interview/) - Monetary Metals CEO Keith Weiner was back on the Palisades Gold Radio podcast. He discussed how gold has one key feature that bitcoin does not.
- [Addison Quale Interviewed on the Tom Woods Show](https://www.monetary-metals.com/insights/articles/addison-quale-tom-woods-show/) - Tom Woods invited Monetary Metals’ VP of Relationship Management Addison Quale on his show to discuss the Monetary Metals mission and how the company works.
- [Mickey Fulp Interview: Investing in Interest-Bearing Gold Bonds](https://www.monetary-metals.com/insights/articles/mickey-fulp-interview-investing-in-interest-bearing-gold-bonds/) - Mickey Fulp interviewed Monetary Metals' CEO Keith Weiner to discuss the maturity of its most recent gold bond, which pays interest on gold.
- [How Not to Think About Gold](https://www.monetary-metals.com/insights/articles/how-not-to-think-about-gold/) - Everyone is always constantly bullish on gold prices “going to the moon” and rumors or predictions that gold is about to “break out” like never before.
- [Want to know where silver is headed in 2023? Look at this little-known indicator…](https://www.monetary-metals.com/insights/articles/silver-little-known-indicator/) - This year we noticed an interesting relationship between the silver price and an indicator you probably wouldn’t associate with silver, at first glance...

## Thought Series

- [The Anti-Concepts of Money: Introduction](https://www.monetary-metals.com/insights/thought-series/anti-concepts-introduction/) - Anti-concepts bypass the mind’s defense mechanisms and inject a bad idea into the foundation of one’s thinking. So what are the Anti-Concepts of Money?
- [The Anti-Concepts of Money: Conclusion](https://www.monetary-metals.com/insights/thought-series/anti-concepts-of-money-conclusion-2/) - The cash-value of promoting each of these anti-concepts is that they lead people to think that the central bank should impose a monetary policy.
- [The Anti-Concepts of Money: Stagflation](https://www.monetary-metals.com/insights/thought-series/anti-concepts-of-money-stagflation/) - Keynesian economists hold that inflation and unemployment are a tradeoff. When they assert this as an explicit premise, one can easily challenge it. But...
- [The Anti-Concepts of Money: What Is Money?](https://www.monetary-metals.com/insights/thought-series/anti-concepts-of-money-money/) - I will leave this as a rhetorical question: would you expect gold mining, sound credit, and counterfeiting to work the same?
- [The Anti-Concepts of Money: What is GDP?](https://www.monetary-metals.com/insights/thought-series/anti-concepts-of-money-gdp/) - A proper measure of the economy would be based on some kind of national balance sheet, not on the Anti-Concept of GDP which is a statement of the gross revenue.
- [The Anti-Concepts of Money: Store of Value](https://www.monetary-metals.com/insights/thought-series/anti-concepts-of-money-store-of-value/) - The very term evokes a picture of a container. You pour value into the container, and a store of value holds it until you’re ready to pour it out again....
- [The Anti-Concepts of Money: Inflation](https://www.monetary-metals.com/insights/thought-series/anti-concepts-of-money-inflation/) - The Anti-Concept of inflation is the greatest economic sleight of hand ever. By focusing attention exclusively on inflation or loss of purchasing power...
- [The Anti-Concepts of Money: Purchasing Power](https://www.monetary-metals.com/insights/thought-series/anti-concepts-of-money-purchasing-power/) - Purchasing power doesn't distinguish between higher prices from too much money supply chasing too little goods supply or because of an increasing scarcity of...
- [The Anti-Concepts of Money: Velocity](https://www.monetary-metals.com/insights/thought-series/anti-concepts-of-money-velocity/) - We can now discuss the Anti-Concept of Velocity. That pseudo-equation MV=PQ described in the What is Money? essay leads us to the anti-concept of velocity.
- [The Anti-Concepts of Money: Risk-Free](https://www.monetary-metals.com/insights/thought-series/anti-concepts-of-money-risk-free/) - What we call money today—the dollar—is the liability of the Fed. The Fed issues this liability to fund its portfolio of government bonds.
- [The Anti-Concepts of Money: Wealth Effect](https://www.monetary-metals.com/insights/thought-series/anti-concepts-of-money-wealth-effect/) - The Anti-Concept of The Wealth Effect is just a trick involving rising asset prices, speculation, and clever misdirection. A clever financial misdirection...
- [Jay Powell is Victor Frankenstein](https://www.monetary-metals.com/insights/thought-series/jay-powell-is-victor-frankenstein/) - Jerome Powell is the Victor Frankenstein of monetary policy. Constructing and killing his rotten creations: zombie firms. We discuss what these undead hordes...
- [Yield Purchasing Power](https://www.monetary-metals.com/insights/thought-series/yield-purchasing-power/) - Most people think in terms of purchasing power. How much can one’s cash buy? I reject this view. Life savings is not supposed to be about liquidation. People used to be able to earn a yield on their money. We should think of an estate as a business, with assets that generate income.
- [Zombies Corporations are Slowly Devouring the Economy](https://www.monetary-metals.com/insights/thought-series/zombies-devouring-economy/) - We spoke with zombie firm researcher Max Gobel to breakdown his findings on the nature and consequences of zombie lending. He's been studying what many missed.
- [Yield Purchasing Power: $100M Today Matches $100K in 1979](https://www.monetary-metals.com/insights/thought-series/yield-purchasing-power-100m-today-matches-100k-in-1979/) - I wrote a story about poor Clarence who retired in 1979, and even poorer Larry who retired last year. I created these characters to challenge the notion of calculating a real interest rate by subtracting inflation. The idea is that the decline of a currency can be measured by the rate of price increases. This
- [Will Basel III Send Gold to the Moon, Report 2 Apr](https://www.monetary-metals.com/insights/thought-series/will-basel-iii-send-gold-to-the-moon-report-2-apr/) - Goldbugs claim that Basel banking regulation changes are good, but actually they’re not.
- [Who the Heck Consumes Capital?!](https://www.monetary-metals.com/insights/thought-series/who-the-heck-consumes-capital/) - Outside central banking, capital is not destroyed en masse. A free market has no mechanism to cause all capital to be destroyed simultaneously.
- [Who Is Worth More: Some Hedge Funds or All our Kindergartens?](https://www.monetary-metals.com/insights/thought-series/who-is-worth-more-some-hedge-funds-or-all-our-kindergartens/) - “The top 25 hedge fund managers made more than all the kindergarten teachers in the country,” declared President Obama in a discussion of poverty at Georgetown University. Calling them “society’s lottery winners,” he proposed to hike their taxes. Predictably, battle lines have been formed between two polarized sides. One side—let’s call them the Gauche for
- [Wealth-Destroying Zombies](https://www.monetary-metals.com/insights/thought-series/wealth-destroying-zombies-report-6-may-2018/) - Will interest rates rise after falling for 30 years? The Bank for International Settlements’ measure of resource-sucking, wealth-destroying zombie firms says...
- [Tragedy of the Speculations, Gold & Silver Report 10 Sep 2017](https://www.monetary-metals.com/insights/thought-series/tragedy-of-the-speculations-gold-silver-report-10-sep-2017/) - The Fed has us in a giant Skinner Box, programming us via falling interest to seek speculative gains, salivating like Pavlov’s Dogs at each rise in asset prices.
- [Think Differently About Purchasing Power](https://www.monetary-metals.com/insights/thought-series/think-different-about-purchasing-power/) - The dollar is always losing value. To measure the decline, people turn to the Consumer Price Index (CPI), or various alternative measures such as Shadow Stats or Billion Prices Project. They measure a basket of goods, and we can see how it changes every year. However, companies are constantly cutting costs. If we see nominal—i.e.
- [There's Your Hyperinflation](https://www.monetary-metals.com/insights/thought-series/theres-your-hyperinflation/) - Hyperinflation is commonly defined as rapidly rising prices which get out of control. For example, the Wikipedia entry begins, “In economics, hyperinflation occurs when a country experiences very high and usually accelerating rates of inflation, rapidly eroding the real value of the local currency…” Let’s restate this in terms of purchasing power. In hyperinflation, the
- [Theory of Interest and Prices in Practice](https://www.monetary-metals.com/insights/thought-series/the-theory-of-interest-and-prices-in-practice/) - Medieval thinkers were tempted to believe that if you throw a rock it flies straight until it runs out of force, and then it falls straight down. Economists are tempted to think of prices as a linear function of the “money supply”, and interest rates to be based on “inflation expectations”, which is to say
- [Theory of Interest and Prices in Paper Currency Part VI (The End)](https://www.monetary-metals.com/insights/thought-series/theory-of-interest-and-prices-in-paper-currency-part-vi-the-end/) - The lower the rate of interest falls, the more it destabilizes the system because it makes the debtors more brittle.
- [Theory of Interest and Prices in Paper Currency Part V (Falling Cycle)](https://www.monetary-metals.com/insights/thought-series/theory-of-interest-and-prices-in-paper-currency-part-v-falling-cycle-2/) - In this Part V, we discuss the end of the rising cycle and the start of the falling cycle. We examine its dynamics and its mode of capital destruction. Lastly we look at the response of the central bank.
- [Theory of Interest and Prices in Paper Currency Part IV (Rising Cycle)](https://www.monetary-metals.com/insights/thought-series/theory-of-interest-and-prices-in-paper-currency-part-iv-rising-cycle/) - In Part I, we looked at the concepts of nonlinearity, dynamics, multivariate, state, and contiguity. We showed that whatever the relationship may be between prices and the money supply in irredeemable paper currency, it is not a simple matter of rising money supply à rising prices. In Part II, we discussed the mechanics of the
- [Theory of Interest and Prices in Paper Currency Part III (Credit)](https://www.monetary-metals.com/insights/thought-series/theory-of-interest-and-prices-in-paper-currency-part-iii-credit/) - The central planners may impose their will on the market; it is within their power to distort the bond market. But they cannot alter the nature of man...
- [Theory of Interest and Prices in Paper Currency Part II (Mechanics)](https://www.monetary-metals.com/insights/thought-series/theory-of-interest-and-prices-in-paper-currency-part-ii-mechanics/) - We discuss stocks vs. flows, how prices are formed in a market, a broad concept of arbitrage, spreads, and how money comes into and goes out of existence.
- [Theory of Interest and Prices in Paper Currency Part I (Linearity)](https://www.monetary-metals.com/insights/thought-series/theory-of-interest-and-prices-in-paper-currency-part-i-linearity/) - Under gold in a free market, the theory of the formation of the rate of interest is straightforward[1]. The rate varies in the narrow range between the floor at the marginal time preference, and the ceiling at the marginal productivity. There is no positive feedback loop that causes it to skyrocket (as it did up
- [The Zombie Ship of Theseus](https://www.monetary-metals.com/insights/thought-series/the-zombie-ship-of-theseus/) - The Ship of Theseus is an old philosophical thought experiment. Suppose you replace all of the boards of a ship with new ones—is it still the same ship?
- [The Unadulterated Gold Standard Part V](https://www.monetary-metals.com/insights/thought-series/the-unadulterated-gold-standard-part-v/) - The Real Bill is credit provided for clearing, without lending or borrowing. It is different than a bond. To review the bond, in Part III we showed how it arises out of the need to save. People must plan for retirement and senescence during their working years. Even if there is no way to lend
- [The Unadulterated Gold Standard Part IV (Intro to Real Bills)](https://www.monetary-metals.com/insights/thought-series/the-unadulterated-gold-standard-part-iv-intro-to-real-bills/) - In Part I, we looked at the period prior to and during the time of what we now call the Classical Gold Standard. It should be underscored that it worked pretty darned well. Under this standard, the United States produced more wealth at a faster pace than any other country before, or since. There were
- [The Unadulterated Gold Standard Part III](https://www.monetary-metals.com/insights/thought-series/the-unadulterated-gold-standard-part-iii-features-3/) - In Part I, we looked at the period prior to and during the time of what we now call the Classical Gold Standard. It should be underscored that it worked pretty darned well. Under this standard, the United States produced more wealth at a faster pace than any other country before, or since. There were
- [The Unadulterated Gold Standard Part II](https://www.monetary-metals.com/insights/thought-series/the-unadulterated-gold-standard-part-ii-history-3/) - In Part I, we looked at the period prior to and during the time of what we now call the Classical Gold Standard. It should be underscored that it worked pretty darned well. Under this standard, the United States produced more wealth at a faster pace than any other country before, or since. There were
- [The Unadulterated Gold Standard Part I](https://www.monetary-metals.com/insights/thought-series/the-unadulterated-gold-standard-3/) - The choice of the word "unadulterated" is not accidental. There were many different kinds of gold standard, including what we now call the Classical Gold Standard, the Gold Bullion Standard, and the Gold Exchange Standard. Each contained flaws; each was adulterated. For example, in the Coinage Act of 1792, the government forced the price of
- [The Unadulterated Gold Standard](https://www.monetary-metals.com/insights/thought-series/the-unadulterated-gold-standard/) - In this five part series, we discuss why the world needs an Unadulterated Gold Standard: In Part I, we look at the period prior to and during the time of what we now call the Classical Gold Standard. It should be underscored that it worked pretty darned well. Under this standard, the United States produced
- [The Theory of Interest and Prices in Paper Currency](https://www.monetary-metals.com/insights/thought-series/the-theory-of-interest-and-prices-in-paper-currency/) - The behavior of the dollar system is nonlinear and counterintuitive. In my reading, I have rarely encountered understanding of even the mechanics, much less the dynamics that drive it. Most debate is stuck on level zero: money printing as panacea vs. imminent hyperinflation. This is a tragedy, because the monetary system is in the final
- [The Forking Paradise, Gold & Silver Report 3 Sep 2017](https://www.monetary-metals.com/insights/thought-series/the-forking-paradise-gold-silver-report-3-sep-2017/) - The $9.4 market cap of bitcoin cash creates a powerful perverse incentive for a cartel to fork bitcoin on purpose.
- [The Economy is in Liquidation Mode](https://www.monetary-metals.com/insights/thought-series/the-economy-is-in-liquidation-mode/) - The Fed’s falling interest rate has slammed the process of accumulating capital into reverse. It has put the entire economy into liquidation mode. It has forced people to consume their capital.
- [Move Over Entrepreneurs, Make Way for Speculation!](https://www.monetary-metals.com/insights/thought-series/move-over-entrepreneurs-make-way-for-speculation/) - Once upon a time, before banks and before even private lending, there was only one way to prepare for retirement. People had to hoard something durable. Every week, they would set aside part of their wages to buy salt (later, it was silver). Assuming it didn’t get wet, the salt accumulated until they couldn’t work
- [Marginal Productivity of Debt](https://www.monetary-metals.com/insights/thought-series/marginal-productivity-of-debt/) - Understanding the marginal productivity of debt is key to understanding whether the amount of credit created is unsustainable, which will result in the end of...
- [Is That a Feature or a Bug? Gold & Silver Report 1 Oct 2017](https://www.monetary-metals.com/insights/thought-series/is-that-a-feature-or-a-bug-gold-silver-report-1-oct-2017/) - Bitcoin's ecosystem has features that seem tailored for criminal activity. While law enforcement respond slowly, they are as relentless as a steamroller.
- [Is Bitcoin a Commodity, Gold & Silver Report 24 Sep 2017](https://www.monetary-metals.com/insights/thought-series/is-bitcoin-a-commodity-gold-silver-report-24-sep-2017/) - One can only refuse to grant credit by hoarding physical commodities, as everything else relies on trust. Is Bitcoin a hoardable commodity?
- [Interest – Inflation = #REF](https://www.monetary-metals.com/insights/thought-series/interest-inflation-ref/) - Some economists assert that the interest rate you see on the Treasury bond is not real. They say you must adjust the nominal rate by inflation.
- [How Basel III Will Impact Gold-Using Businesses](https://www.monetary-metals.com/insights/thought-series/how-basel-iii-will-impact-gold-using-businesses/) - Basel III is coming! Its initial impact will be on gold-using businesses, but an effect on consumer pricing of gold products is likely to follow.
- [Hidden Forces of Economics, Gold & Silver Report 27 Aug 2017](https://www.monetary-metals.com/insights/thought-series/hidden-forces-of-economics-gold-silver-report-27-aug-2017/) - If Keynes was alive today, he’d likely say not one man in a million would realize that bitcoin is the conversion of one person’s wealth into another’s income.
- [Heat Death of the Economic Universe, Report 5 Nov 2017](https://www.monetary-metals.com/insights/thought-series/heat-death-of-the-economic-universe-report-5-nov-2017/) - The concept of heat death can be applied to economics: will credit continue to grow, and with it the economy or will some force prevent slow and stop it?
- [Falling Yields, Rising Asset Prices - Rising Yields, Falling Prices](https://www.monetary-metals.com/insights/thought-series/falling-yields-rising-asset-prices-rising-yields-falling-prices/) - Our monetary system is failing - falling interest forces you to spend your principal, because it starves you of return.
- [Falling Productivity of Debt, Gold and Silver Report 15 Oct 2017](https://www.monetary-metals.com/insights/thought-series/falling-productivity-of-debt-gold-and-silver-report-15-oct-2017/) - The multi-decade secular decline in America’s marginal productivity of debt (how much additional GDP is added for each newly-borrowed dollar) is unsustainable.
- [Falling Interest, Gold and Silver Report 22 Oct 2017](https://www.monetary-metals.com/insights/thought-series/falling-interest-gold-and-silver-report-22-oct-2017/) - Many say interest rates will rise. We say they will continue to fall as central banks push down interest rates to enable more government and crony borrowing.
- [Dear Bullion Banks, Please Come Back! Market Report, 13 July](https://www.monetary-metals.com/insights/thought-series/dear-bullion-banks-please-come-back-market-report-13-july/) - Inefficient markets, and why we need market makers. With special guest appearances from Batman & Dilbert.
- [Bitcoin: What Is It Good For?](https://www.monetary-metals.com/insights/thought-series/bitcoin-what-is-it-good-for/) - The speculators love bitcoin. But what about the savers? Or the businesses seeking financing? Can we really call it a medium of exchange?
- [Bitcoin, Gold and Silver Report 30 July 2017](https://www.monetary-metals.com/insights/thought-series/bitcoin-gold-and-silver-report-30-july-2017/) - Is bitcoin money? If you understand the difference between the nature of bid and offer prices the answer is obvious.
- [Bitcoin is Precise but not Accurate, Gold & Silver Report 17 Sep 2017](https://www.monetary-metals.com/insights/thought-series/bitcoin-precise-not-accurate-gold-silver-report-17-sep-2017/) - Bitcoin has a precise ledger and formulas for mining rewards, but it's based on inaccurate economic theories.
- [Bitcoin Hyper-Deflation, Gold and Silver Report 10 Dec 2017](https://www.monetary-metals.com/insights/thought-series/bitcoin-hyper-deflation-gold-and-silver-report-10-dec-2017/) - Prices are in hyper-deflation, measured in bitcoin. Some bitcoiners argue jokingly bitcoin is the numeraire, but is gold the best measuring stick?
- [Bitcoin Has No Yield, but Gold Does Report 13 August 2017](https://www.monetary-metals.com/insights/thought-series/bitcoin-has-no-yield-but-gold-does-report-13-august-2017/) - There is no real evidence of bitcoin lending and borrowing and bitcoin futures exchange offer a dollar yield on dollars, not a bitcoin yield on bitcoin.
- [Bitcoin Forked, and Gold and Silver Report 6 August 2017](https://www.monetary-metals.com/insights/thought-series/bitcoin-forked-and-gold-and-silver-report-6-august-2017/) - The boldness of bitcoin’s promoters is matched by the unsoundness of bitcoin’s monetary design (as opposed to the technological soundness of the blockchain). This combination will result in devastating losses to whomever is left holding the bag at the end.
- [Basel III’s Effect on Gold and Silver](https://www.monetary-metals.com/insights/thought-series/basel-iiis-effect-on-gold-and-silver/) - There is sometimes a tendency to confuse ends and means. Will Basel III regulations make the banks safer? What will their (un)intended effects be on gold?
- [Basel III and Gold - Central Bankers Locking the Fire Exits](https://www.monetary-metals.com/insights/thought-series/basel-iii-gold-central-bankers-locking-the-fire-exits/) - Pundits have interpreted forthcoming Basel III rules as an opportunity to bash bullion banks and to assert that gold prices are going to the moon, again...yawn.
- [Bad Ideas About Money, Bitcoin, and Gold Report 20 Aug 2017](https://www.monetary-metals.com/insights/thought-series/bad-ideas-about-money-bitcoin-and-gold-report-20-aug-2017/) - The central banks have taught us well, trained us to think of money as the piece of paper which once redeemed for it, the electronic balance which once represented it.
- [A Dire Warning, Report 29 July 2018](https://www.monetary-metals.com/insights/thought-series/a-dire-warning-report-29-july-2018/) - Nixon removed the money (gold) from the monetary system. We use irredeemable credit as if it were money, but it cannot extinguish a debt.
- [A Deeper Dive Into Silver](https://www.monetary-metals.com/insights/thought-series/deeper-dive-into-silver/) - Right now, silver is widely believed to be in a global shortage. We've explained this, but let's take a deeper dive and look at the silver basis data.
- [Gold, Redeemability, Bitcoin, and Backwardation](https://www.monetary-metals.com/insights/thought-series/gold-redeemability-bitcoin-and-backwardation/) - Oil could become $1,000,000 per barrel and 0.0001 gold grams per barrel at the same time. This will continue until sellers of commodities no longer accept...

## Podcasts

- [How does a $4.2B gold fund manager see the gold market?](https://www.monetary-metals.com/insights/podcasts/how-does-a-4-2b-gold-fund-manager-see-the-gold-market/) - What is gold really telling us about the world right now? Axel Merk unpacks the forces driving gold’s historic run and what that means for investors.
- [Bob Elliott: What do hedge funds see in gold right now?](https://www.monetary-metals.com/insights/podcasts/bob-elliott-what-do-hedge-funds-see-in-gold-right-now/) - Bob Elliott explains why the latest moves in gold may have less to do with fundamentals and more to do with hedge fund positioning & a shifting macro landscape.
- [Rep. Ken Ivory: Gold protects states](https://www.monetary-metals.com/insights/podcasts/rep-ken-ivory-gold-protects-states/) - What would happen if states restored gold and silver as money? We sit down with Utah State Representative Ken Ivory to unpack the growing Sound Money Movement.
- [Gold leasing explained by The Godfather](https://www.monetary-metals.com/insights/podcasts/gold-leasing-explained-by-the-godfather/) - What makes gold leasing viable today? Jeffrey Rhodes explains why today’s gold-denominated structures succeed where earlier bank-led models fell short.
- [Trump's Tariff Plan is Doing EXACTLY What He Wanted](https://www.monetary-metals.com/insights/podcasts/trumps-tariff-plan-is-doing-exactly-what-he-wanted/) - What’s happening in the silver market? Peter St. Onge, Ph.D. breaks down why most investors are completely unprepared. Watch the Gold Exchange Podcast now.
- [Brent Johnson: The dollar milkshake is unfolding as expected](https://www.monetary-metals.com/insights/podcasts/brent-johnson-the-dollar-milkshake-is-unfolding-as-expected/) - Brent Johnson joins the podcast to discuss the growing importance of gold, and how emerging technologies could influence the future monetary landscape.
- [Tokenized gold with Dr. Campbell Harvey](https://www.monetary-metals.com/insights/podcasts/tokenized-gold-with-dr-campbell-harvey/) - Dr. Campbell Harvey joins the podcast to discuss how tokenized gold is creating a new digital gold standard, and how fiat currencies are facing competition.
- [Hiren Chandaria on global gold demand](https://www.monetary-metals.com/insights/podcasts/hiren-chandaria-on-global-gold-demand/) - Hiren Chandaria, Managing Director, Middle East and Asia Operations for Monetary Metals, gives a masterclass on the state of global gold demand.
- [Jeffrey Christian on metal price spikes](https://www.monetary-metals.com/insights/podcasts/jeffrey-christian-on-metal-price-spikes/) - Jeffrey Christian explains why supply, recycling, and investor behavior ultimately limit gold and silver price spikes, and where many investors get it wrong.
- [Greyson Geiler on how to profit with gold](https://www.monetary-metals.com/insights/podcasts/greyson-geiler-on-how-to-profit-with-gold/) - Greyson Geiler, manager of the GoldRush Yield Fund, explains what he's seeing the gold and silver markets and how he plans on capitalizing on the bull run.
- [Keith Weiner on his 2026 gold outlook](https://www.monetary-metals.com/insights/podcasts/keith-weiner-on-his-2026-gold-outlook/) - CEO of Monetary Metals Keith Weiner explains his macroeconomic outlook for 2026. We discuss metals prices, currency competition, and the power of gold yield.
- [Mike Green on passive investing risk](https://www.monetary-metals.com/insights/podcasts/mike-green-on-passive-investing-risk/) - Mike Green of Simplify Asset Management explains why passive investing is creating a hidden risk that could have a systemic impact on global portfolios.
- [Charlie Morris and the next big investment](https://www.monetary-metals.com/insights/podcasts/gold-bitcoin-the-next-big-investment-shift-charlie-morris/) - Charlie Morris, founder of ByteTree, dives into his viewpoints on gold, Bitcoin, and the next big investment shift he sees coming.
- [Charlie Morris on gold and bitcoin](https://www.monetary-metals.com/insights/podcasts/charlie-morris-on-gold-and-bitcoin/) - Charlie Morris of ByteTree Asset Management shares his thoughts on the current state of the monetary competition happening between gold and bitcoin.
- [Dr. Arthur Laffer on supply side economics](https://www.monetary-metals.com/insights/podcasts/dr-arthur-laffer-on-supply-side-economics/) - The man behind supply side economics, Dr. Arthur Laffer, joins the podcast to discuss trade theory, tax policy, sound money and more.
- [Dana Samuelson on the American gold market](https://www.monetary-metals.com/insights/podcasts/dana-samuelson-on-the-american-gold-market/) - Gold and silver have had a major run up in prices, but Dana Samuelson of American Gold Exchange argues that American buyers are not the ones leading the charge.
- [David Morgan on the silver bull market](https://www.monetary-metals.com/insights/podcasts/david-morgan-on-the-silver-bull-market/) - David Morgan explains why silver prices have skyrocketed, where silver sits between industrial and monetary metal, and how to prepare for a slowing economy.
- [Gökhan Yılmaz on the Turkish gold market](https://www.monetary-metals.com/insights/podcasts/gokhan-yilmaz-on-the-turkish-gold-market/) - Gökhan Yılmaz joins the podcast to discuss the Turkish gold market and how the gold economy is operating in a world of rapid currency devaluation.
- [Bob Murphy on recession risks](https://www.monetary-metals.com/insights/podcasts/bob-murphy-on-recession-risks/) - Economist Bob Murphy joins the podcast to discuss economic predictions of a recession, gold prices, and how debt levels don't seem to matter until they do.
- [Doomberg on the energy wars](https://www.monetary-metals.com/insights/podcasts/doomberg-on-the-energy-wars/) - Energy analyst Doomberg joins the podcast to discuss the geopolitics, the role of gold as a neutral reserve asset, and the state of US energy dominance.
- [Ronnie Stöferle on gold's reserve status](https://www.monetary-metals.com/insights/podcasts/ronnie-stoferle-on-golds-reserve-status/) - Ronnie Stöferle joins the podcast to discuss why gold has overtaken the Euro for the largest central bank reserve asset and what it means for gold owners now.
- [Jeff Deist on financialization](https://www.monetary-metals.com/insights/podcasts/jeff-deist-on-financialization/) - Jeff Deist explains why monetary policy is to blame for companies playing speculatively with their balances sheets as opposed to creating real economic value.
- [Peter Spina on the gold bull run](https://www.monetary-metals.com/insights/podcasts/peter-spina-on-the-gold-bull-run/) - The dollar’s breaking point might already be here. Peter Spina explains why gold’s next explosion is just beginning — and why the West still hasn’t caught on.
- [Chris Whalen on the tragedy of the dollar](https://www.monetary-metals.com/insights/podcasts/chris-whalen-on-the-tragedy-of-the-dollar/) - Chris Whalen joins the podcast to discuss how the failing US dollar has reopened an ancient gold arbitrage trade between real assets and paper currencies.
- [David Lin on battling bias](https://www.monetary-metals.com/insights/podcasts/david-lin-on-battling-bias/) - David Lin joins the show to discuss how investors can defeat their biases, consume better media, and what's he's learned from interviewing thousands of guests.
- [Samuel Smith on dividend investing](https://www.monetary-metals.com/insights/podcasts/samuel-smith-on-dividend-investing/) - Samuel Smith, the High Yield Investor, joins to discuss his dividend investing philosophy, the power of gold with yield, and the state of the market.
- [Jeffrey Christian debunks gold myths](https://www.monetary-metals.com/insights/podcasts/jeffrey-christian-debunks-gold-myths/) - Jeffrey Christian, Managing Partner at CPM Group, joins CEO of Monetary Metals Keith Weiner to discuss and debunk some of the myths surrounding gold and silver.
- [Keith Weiner on record gold prices](https://www.monetary-metals.com/insights/podcasts/keith-weiner-on-record-gold-prices/) - In this episode, CEO of Monetary Metals Keith Weiner explains why gold isn’t “going up” in price but the value of the dollar is collapsing in slow motion.
- [Alasdair Macleod on the credit bubble](https://www.monetary-metals.com/insights/podcasts/alasdair-macleod-on-the-credit-bubble/) - Alasdair Macleod joins the podcast to discuss gold, credit bubbles, and whether the US should fear a coming BRICS currency alliance.
- [Jeff Deist on gold and taxes](https://www.monetary-metals.com/insights/podcasts/jeff-deist-on-gold-and-taxes/) - Jeff Deist tackles questions on gold, taxes, inheritance, and more. From the international tax implications of gold leasing to strategies for gifting gold.
- [John Rubino on the physical asset bull run](https://www.monetary-metals.com/insights/podcasts/john-rubino-on-the-physical-asset-bull-run/) - Financial author and analyst John Rubino joins to break down why the so-called “Everything Bubble” could be dangerously close to popping.
- [Henry Yoshida on gold in an IRA](https://www.monetary-metals.com/insights/podcasts/henry-yoshida-on-gold-in-an-ira/) - Henry Yoshida of Rocket Dollar joins the podcast to explain how investors can get the most out of their retirement accounts and the future for gold investing.
- [Mario Innecco on the latest gold surge](https://www.monetary-metals.com/insights/podcasts/mario-innecco-on-the-latest-gold-surge/) - Mario Innecco joins the podcast to discuss why gold is hitting all-time highs, why debt continues to rise and what it means for the monetary system.
- [Danielle DiMartino Booth on the Fed](https://www.monetary-metals.com/insights/podcasts/danielle-dimartino-booth-on-the-fed/) - Danielle DiMartino Booth joins the podcast to discuss Fed independence, the politization of the central bank, and what gold investors should be thinking about.
- [Jared Dillian on the future for markets](https://www.monetary-metals.com/insights/podcasts/jared-dillian-on-the-future-for-markets/) - Jared Dillian gives his thoughts on everything from dollar outperformance potentially coming to an end, to what bad habits investors should look to break.
- [Dollar bearishness with Tavi Costa](https://www.monetary-metals.com/insights/podcasts/dollar-bearishness-with-tavi-costa/) - Tavi Costa of Crescat Capital explains why he believes gold is in a secular bull market and why the structural issues facing the dollar can not easily be fixed.
- [Gene Epstein on debating capitalism](https://www.monetary-metals.com/insights/podcasts/gene-epstein-on-debating-capitalism/) - Gene Epstein, former economics editor of Barron's, and founder and moderator of the Soho Forum, joins the podcast to discuss capitalism and the power of debate.
- [Daniel Lacalle on economic nationalism](https://www.monetary-metals.com/insights/podcasts/daniel-lacalle-on-economic-nationalism/) - Daniel Lacalle joins the podcast to explain how countries are navigating the new economic landscape and how gold fits in to the world of economic nationalism.
- [Axel Merk on gold in the AI era](https://www.monetary-metals.com/insights/podcasts/axel-merk-on-gold-in-the-ai-era/) - Axel Merk of Merk Investments joins the podcast to discuss gold in the age of AI, and how the nature of the global economy is changing.
- [Ep - 36 Jim Forsythe, Returning to Sound Money Sanity](https://www.monetary-metals.com/insights/podcasts/ep-36-jim-forsythe/) - Jim Forsythe of Citizens for Sound Money joins the Gold Exchange Podcast to talk about how we can opt-out of dollars and get on the path back to sound money.
- [Ranking States on Sound Money](https://www.monetary-metals.com/insights/podcasts/ranking-states-on-sound-money/) - We discuss how the different states rank when it comes to their laws on gold and silver. Where does you state rank in terms of legal tender laws and taxation?
- [Jeff Deist: Pushing back with gold](https://www.monetary-metals.com/insights/podcasts/pushing-back-with-gold/) - Jeff Deist explains why gold is becoming more popular and how a yield on gold, paid in gold is increasing the arguments for broader ownership.
- [Ep 38 - Fighting for Sound Money](https://www.monetary-metals.com/insights/podcasts/ep-38/) - Jp Cortez of the Sound Money Defense League joins the podcast to talk about problems with central planning, the morality of sound money, and which states are...
- [Will a Fort Knox gold audit happen?](https://www.monetary-metals.com/insights/podcasts/fort-knox-gold-audit/) - More and more states are taking action and pushing to audit America’s gold reserves. Will an audit of Fort Knox finally happen? Watch the episode to find out.
- [Judy Shelton’s gold standard revival plan](https://www.monetary-metals.com/insights/podcasts/judy-sheltons-gold-standard-revival-plan/) - Former Federal Reserve nominee Judy Shelton joins the podcast to discuss why and how the US should relink its debt to gold through Treasury Trust Bonds.
- [Is gold an inflation hedge?](https://www.monetary-metals.com/insights/podcasts/is-gold-an-inflation-hedge/) - Is gold an inflation hedge, store of value, or a safe haven asset? Jeff Deist and Ben Nadelstein discuss narratives surrounding the merits of gold ownership.
- [Money Creation is a Black Hole Draining Your Wealth | Jim Brown](https://www.monetary-metals.com/insights/podcasts/money-creation-is-a-black-hole-draining-your-wealth-jim-brown/) - Jim Brown explains why bank-created money is killing your wealth and how you can protect your savings.
- [Jeff Deist on the Big Beautiful Bill](https://www.monetary-metals.com/insights/podcasts/jeff-deist-on-the-big-beautiful-bill/) - Wall Street laughed when retail stepped in. Now retail's holding gold, Bitcoin, and stocks — while the pros are dumping at the bottom.
- [Keith Weiner: The Future of Gold](https://www.monetary-metals.com/insights/podcasts/keith-weiner-the-future-of-gold/) - Tariffs, monetary abuse, & shifting fiscal policies are reshaping the economic landscape while examining why gold remains a critical safe haven amid uncertainty
- [Alexander McCobin on Conscious Capitalism](https://www.monetary-metals.com/insights/podcasts/alexander-mccobin-on-conscious-capitalism/) - Ben Nadelstein sits down with Alexander McCobin for a deep dive into his personal journey and insights on building a movement for capitalism.
- [Gold versus the S&P 500](https://www.monetary-metals.com/insights/podcasts/why-more-investors-are-choosing-gold-over-the-sp-500/) - Gold just beat the performance of the S&P 500 again. Here's what 54 years of data really says about where your money works harder.
- [Brian Albrecht: America's economic trap](https://www.monetary-metals.com/insights/podcasts/brian-albrecht-americas-economic-trap/) - Brian Albrecht joins the Gold Exchange podcast to break down how power, policy, and prices really work in the modern economy.
- [George Gammon rebelling against the Fed](https://www.monetary-metals.com/insights/podcasts/how-to-rebel-against-the-fed-with-gold-george-gammon/) - George Gammon, the rebel capitalist, joins he Gold Exchange podcast to talk about what it takes to survive and thrive in today’s economic order.
- [John Reade | Gold trends for 2025](https://www.monetary-metals.com/insights/podcasts/john-reade-gold-trends-for-2025/) - John Reade of the World Gold Council joins the podcast to discuss demand trends in gold in 2025 and what changes to expect for prices going forward.
- [Adrian Day on gold, miners, and the Fed](https://www.monetary-metals.com/insights/podcasts/adrian-day-on-gold-miners-and-the-fed/) - Everyone’s watching stock, bond, and gold prices. But Adrian Day argues that the real signals are coming from the data no one’s talking about.
- [Joe Brown on dealing with the debt issue](https://www.monetary-metals.com/insights/podcasts/joe-brown-on-the-debt-issue/) - DOGE has failed to curb government spending. So what now? Joe Brown breaks down the four paths the economy might take from here
- [Keith Weiner's gold yield outlook](https://www.monetary-metals.com/insights/podcasts/keith-weiners-gold-yield-outlook/) - CEO Keith Weiner gives his take on the economic outlook for the remainder of 2025, and the mechanics of earning a yield on gold, paid in gold.
- [Mark Pey on major gold market shifts](https://www.monetary-metals.com/insights/podcasts/mark-pey-on-major-gold-market-shifts/) - Mark Pey, Head of Strategic Relationships for Monetary Metals in Dubai, joins the podcast to explore the convergence of crypto and real-world assets like gold.
- [David Morgan on the gold to silver ratio](https://www.monetary-metals.com/insights/podcasts/david-morgan-on-the-gold-to-silver-ratio/) - David Morgan joins the podcast to discuss the gold-to-silver ratio and how the ongoing war on cash may impact precious metals investors.
- [Brent Johnson on gold and the dollar](https://www.monetary-metals.com/insights/podcasts/brent-johnson-on-gold-and-the-dollar/) - Brent Johnson explains how Triffin's dilemma became an issue for the rest of the world and what gold with yield means for the global monetary system.
- [Tony Greer on the revolution in retail](https://www.monetary-metals.com/insights/podcasts/tony-greer-on-the-revolution-in-retail/) - Wall Street laughed when retail stepped in. Now retail's holding gold, Bitcoin, and stocks — while the pros are dumping at the bottom.
- [The US gold market could be about to break](https://www.monetary-metals.com/insights/podcasts/the-us-gold-market-could-be-about-to-break/) - The US gold market could be about to break. Keith breaks down why tariffs could actually destroy U.S. price discovery—and what that means for investors like us.
- [Michael Green: Are Index Funds Hurting Your Portfolio?](https://www.monetary-metals.com/insights/podcasts/michael-green-are-index-funds-hurting-your-portfolio/) - Michael Green, Portfolio Manager and Chief Strategist at Simplify Asset Management discusses problems of the passive investing strategies and financial markets.
- [Bob Murphy: Why gold beats MMT](https://www.monetary-metals.com/insights/podcasts/bob-murphy-why-gold-beats-mmt/) - Bob Murphy breaks down Modern Monetary Theory, government debt, and the real cost of money printing on his latest appearance on the Gold Exchange Podcast.
- [Why Gold Still Rules | Alasdair Macleod](https://www.monetary-metals.com/insights/podcasts/why-gold-still-rules-alasdair-macleod/) - Alasdair Macleod says the biggest credit bubble in history is about to pop—and 2025 could be the breaking point.
- [St Onge: Trump vs the Fed](https://www.monetary-metals.com/insights/podcasts/st-onge-trump-vs-the-fed/) - Economist Peter St. Onge reveals how Trump’s second term could reshape the Fed, skyrocket (or sink) gold, and shake up your investments in 2025.
- [Mark Valek: Combining Bitcoin and Gold](https://www.monetary-metals.com/insights/podcasts/mark-valek-combining-bitcoin-and-gold/) - Mark Valek joins the podcast to share how to build a sound money portfolio using principles from the Austrian School of Economics.
- [Johnson vs Murphy: De-dollarization debate](https://www.monetary-metals.com/insights/podcasts/johnson-vs-murphy-de-dollarization-debate/) - Bret Johnson and Robert Murphy explore the implications on global finance, the role of gold going forward, and the resilience of the US dollar.
- [Jeffrey Christian: Do Elections Matter?](https://www.monetary-metals.com/insights/podcasts/jeffrey-christian-do-elections-matter-to-gold-prices/) - Jeffrey Christian explores whether elections impact gold prices and to shed light on when inflation exerts a significant influence on the gold market.
- [Jeffrey Christian: Silver's Potential Upside?](https://www.monetary-metals.com/insights/podcasts/jeffrey-christian-silvers-potential-upside/) - Jeffrey Christian joins the podcast to discuss the potential upside silver could see in 2024 and beyond.
- [Tom Woods: We are in uncharted territory](https://www.monetary-metals.com/insights/podcasts/tom-woods-we-are-in-uncharted-territory/) - Tom Woods joins the podcast to debunk the myths we are taught about central banking and discuss how we can break free from the Fed's economic mismanagement.
- [John Rubino: Real Assets in Unreal Times](https://www.monetary-metals.com/insights/podcasts/john-rubino-real-assets-in-unreal-times/) - John Rubino discuss' owning real assets, how to think about financial bubbles, and the new supply and demand dynamics in the gold and silver markets.
- [Ronnie Stoeferle: A New Gold Playbook](https://www.monetary-metals.com/insights/podcasts/ronnie-stoeferle-a-new-gold-playbook/) - Ronald-Peter Stöferle discuss' why he invested in Monetary Metals, what the new playbook means for gold, and the case for owning gold in 2024 and beyond.
- [David Morgan: The Evolution in Precious Metals](https://www.monetary-metals.com/insights/podcasts/david-morgan-the-evolution-in-precious-metals/) - David Morgan joins the podcast to discuss the evolution of the precious metals market, earning a yield on gold and silver, and so much more.
- [How to monetize your gold and silver](https://www.monetary-metals.com/insights/podcasts/how-to-monetize-gold-silver/) - Companies that unlocked the productive potential of underutilized resources have taken off in the last decade. What about monetizing underutilized gold and silver?
- [Bryan Caplan: Why Housing Costs DOUBLED](https://www.monetary-metals.com/insights/podcasts/bryan-caplan-housing/) - Bryan Caplan joins the podcast to discuss why housing prices continue to rise, what we can do about it, and why everyone seems to hate markets.
- [Bob Elliott: Why the Market Hasn't Crashed Yet](https://www.monetary-metals.com/insights/podcasts/bob-elliott-why-the-market-hasnt-crashed-yet/) - Bob Elliott joins the podcast to discuss the importance of diversification in investment portfolios, gold as a contra currency, and more.
- [Eric Brakey: The Free State Project](https://www.monetary-metals.com/insights/podcasts/eric-brakey-the-free-state-project/) - Eric Brakey joins the podcast to discuss the Free State Project, sound money, cryptocurrency, and strategies for advancing liberty.
- [Passive Income in Gold for Real Estate Investors](https://www.monetary-metals.com/insights/podcasts/passive-income-gold-real-estate/) - Dustin Heiner is a real estate investor who was able to make enough passive income from his business to quit his job when he was 37 years old.
- [Jeff Snider: Their System is Malfunctioning](https://www.monetary-metals.com/insights/podcasts/jeff-snider-system-malfunctioning/) - Jeff Snider joins the podcast to discusses the current economic climate, the disconnect between stock market performance and underlying economic indicators.
- [Michael Gayed: Gold warning signals](https://www.monetary-metals.com/insights/podcasts/michael-gayed-gold-warning-signals/) - Michael Gayed joins the podcast to discuss current market risks, the Yen carry trade, and why he believes some larger institutional players are considering gold
- [What is good debt?](https://www.monetary-metals.com/insights/podcasts/what-is-good-debt/) - Jeff Deist and Ben Nadelstein discuss the role of intermediaries in today's economy. Are all acts of modern debt and credit creation bad?
- [What is good money?](https://www.monetary-metals.com/insights/podcasts/what-is-good-money/) - Jeff Deist and Ben Nadelstein discuss the Quantity Theory of Money, hoarding money as an economic good, and Say's Law.
- [What is a precious metals bond?](https://www.monetary-metals.com/insights/podcasts/what-is-a-precious-metals-bond/) - Keith Weiner explains silver bonds, why the current silver bond offering from Monetary Metals is so historic, and how to think about dollar vs metal yields.
- [Judy Shelton: How to get Good as Gold](https://www.monetary-metals.com/insights/podcasts/judy-shelton-how-to-be-good-as-gold/) - In this episode of the Gold Exchange podcast, esteemed monetary economist Judy Shelton joins to discuss her latest book - How to get good as gold
- [Episode 1: The Accidental Economist](https://www.monetary-metals.com/insights/podcasts/episode-1-the-accidental-economist/) - How did a software dropout go on to become a successful entrepreneur…and eventually earn a PhD in economics?
- [Episode 2: One Radical Idea](https://www.monetary-metals.com/insights/podcasts/episode-2-one-radical-idea/) - At first, Keith Weiner's economics journey brought enlightenment about our monetary system. Then came the radical idea.
- [Episode 3: The Economic Impact of COVID: Stateless vs Stateful](https://www.monetary-metals.com/insights/podcasts/ep3-economic-impact-covid/) - "Seems like things are getting back to normal." Not exactly. Folks with that view are not looking very closely.
- [Episode 4: The Dismal Science of Economics](https://www.monetary-metals.com/insights/podcasts/ep4-dismal-science-of-economics/) - Economics has been called the dismal science. It doesn't seem to have the same respect as other fields of "real" scientific study. Why is that?
- [Episode 5: Why GDP Is A Terrible Measure of Economic Health](https://www.monetary-metals.com/insights/podcasts/ep5-gdp-terrible-measure/) - The problem with GDP is that government consumption of private capital is positive. And with the government gradually taking over all aspects of the economy...
- [Episode 6: Why The Dollar Isn't Money](https://www.monetary-metals.com/insights/podcasts/episode-6-why-the-dollar-isnt-money/) - Despite what Google Images serves up, money and currency are not the same thing. So what is it today that gives the dollar - or any fiat currency - its value?
- [Episode 7: Gold Bonds Are Back, Baby!](https://www.monetary-metals.com/insights/podcasts/episode-7-gold-bonds-are-back-baby/) - Once upon a time, gold bonds were the norm. It took 87 years, but now the gold bond market is reemerging.
- [Episode 8: Why The Dollar Isn't Money - PART 2](https://www.monetary-metals.com/insights/podcasts/episode-8-why-the-dollar-isnt-money-part-2/) - We continue the discussion about how the dollar isn't money, leading to how a false definition of money can lead to a corrupt state that wields blank checks.
- [Episode 9: Using Gold Bonds to Avert Financial Armageddon](https://www.monetary-metals.com/insights/podcasts/gold-bonds-to-avert-financial-armageddon/) - Our current financial environment with massive, growing debt and an irredeemable currency has many investors asking if that debt can ever be paid off.
- [Episode 10: Investing Principles for Precious Metals Investors](https://www.monetary-metals.com/insights/podcasts/ep10-investing-principles/) - This week's episode is the result of many questions submitted by listeners. Such as: Should I invest in silver or gold? What are the main things I need to consider? Can you help me understand what the Fed is doing? Does it make sense to borrow in order to invest in precious metals? Along the
- [Episode 11: The Common Ground Between Bitcoin & Gold](https://www.monetary-metals.com/insights/podcasts/ep11-common-ground-bitcoin-gold/) - Is there common ground the among proponents of gold and bitcoin? John Flaherty and CEO Keith Weiner take on that question in this episode.
- [Episode 12: The Yield Purchasing Power Paradigm](https://www.monetary-metals.com/insights/podcasts/episode-12-the-yield-purchasing-power-paradigm/) - Most people think in terms of purchasing power: how much can one’s cash buy? Instead, what if you invested it to earn a return? What can that *return* buy?
- [Episode 13: The Pressing Problem With "Money Printing"](https://www.monetary-metals.com/insights/podcasts/ep13-money-printing/) - The phrase "money printing" conjures images of a giant printing press spitting out sheets of hundred dollar bills somewhere in the basement of the Fed.
- [Episode 14: Unexpected Insights On Fractional Reserve Banking](https://www.monetary-metals.com/insights/podcasts/ep14-fractional-reserve-banking/) - Our previous episode on "money printing" veered into fractional reserve banking at a few points, so this week John Flaherty and Monetary Metals CEO Keith Weiner dive into that topic. In this episode, you'll discover: . 4 traits that determine legitimate credit, versus counterfeit credit What many alarmists incorrectly presume about this system The concept
- [Episode 15: Inflation's Inconvenient Complexities, Part 1](https://www.monetary-metals.com/insights/podcasts/ep15-inflations-complexities/) - Most folks define inflation simply as "rising prices." But as John Flaherty and CEO Keith Weiner discuss in this week's episode, it's just not that simple.
- [Episode 16: Inflation's Inconvenient Complexities, Part 2](https://www.monetary-metals.com/insights/podcasts/inflations-complexities-part-2/) - In a prior episode, John Flaherty and CEO Keith Weiner discussed the intricacies of inflation. This time, they go a little deeper.
- [Episode 17: Why Fedcoin?](https://www.monetary-metals.com/insights/podcasts/ep17-why-fedcoin/) - Our recent article on Fedcoin - a digital currency being considered by the Federal Reserve - revealed the sinister and pernicious reasons behind such a move. This week's episode of The Gold Exchange Podcast explores the topic further. In it, John Flaherty and CEO Keith Weiner discuss: Addl description of episode A little-realized distinction between
- [Episode 18: Outlook for Gold 2021](https://www.monetary-metals.com/insights/podcasts/ep18-outlook-for-gold-2021/) - Back in February we published Gold Outlook 2021, our annual analysis of the gold and silver markets from CEO Keith Weiner. In it, Keith explained the market players, dynamics, fallacies, and drivers. He also made a call on gold and silver prices for the year. In this week's episode of the podcast, we focus on
- [Episode 19 - Bonus Episode! Theory of Interest and Prices Mises Conference 2021](https://www.monetary-metals.com/insights/podcasts/ep19-bonus-theory-of-interest-and-prices-mises/) - Keith presented his Theory of Interest and Prices at the Mises' Austrian Economics Research Conference earlier this year. Described as one of the most interesting talks of the entire event, this episode includes his fifteen-minute presentation as well as some follow-up thoughts by Keith himself at the end. In this episode, he covers: Was Milton Friedman
- [Episode 20 - The Truth about the so-called Silver Squeeze](https://www.monetary-metals.com/insights/podcasts/ep20-so-called-silver-squeeze/) - The silver squeeze, is it a coming storm? Or a tempest in a teapot? Is there a global shortage of silver? Keith provides some answers in this latest episode.
- [Episode 21: The Debt Reset](https://www.monetary-metals.com/insights/podcasts/episode-21-the-debt-reset/) - There's been talk about resetting the debt. A neglected topic, Keith and John give the debt the attention it deserves in this episode of the Gold Exchange.
- [Episode 22: Reimagining Physical Gold with Adam Trexler of Valaurum](https://www.monetary-metals.com/insights/podcasts/episode-22-reimagining-physical-gold-with-adam-trexler-of-valaurum/) - In our increasingly digital reality, innovation in physical gold may seem a bit passé, but not to Dr. Adam Trexler, founder and President of Valaurum.
- [Episode 23: The History Behind the Nixon Shock](https://www.monetary-metals.com/insights/podcasts/the-history-behind-the-nixon-shock/) - The history behind the Nixon Shock doesn't begin in 1971, it begins in 1792. Nixon closing the gold window was simply the last in a line of many wrong acts.
- [Episode 24: Destructive Profit vs Productive Profit](https://www.monetary-metals.com/insights/podcasts/podcast-destructive-vs-productive-profit/) - This week’s Gold Exchange Podcast episode explores the idea of destructive profit vs productive profit. Why the world has confused investment with speculation.
- [Episode 25: The Origins and Machinations of the Federal Reserve](https://www.monetary-metals.com/insights/podcasts/ep-24-origins-federal-reserve/) - Keith Weiner explores why the Fed was created and what deleterious effects it has on our economy including inflation, boom bust cycles and monetary debasement.
- [Episode 26: Gold in the Time of Coronavirus](https://www.monetary-metals.com/insights/podcasts/episode-26-gold-in-the-time-of-coronavirus/) - This week’s episode of the Gold Exchange Podcast, Keith Weiner interviews independent precious metals advisor Claudio Grass to discuss gold in the coronavirus.
- [Entrepreneurship and Regulation with Per Bylund](https://www.monetary-metals.com/insights/podcasts/entrepreneurship-regulation-per-bylund/) - Monetary Metals CEO Keith Weiner interviews Professor of Entrepreneurship at Oklahoma State University Per Bylund on regulation, entrepreneurship and more.
- [Outlook for Gold 2022](https://www.monetary-metals.com/insights/podcasts/gold-outlook-podcast-2022/) - Last week we published our Gold Outlook 2022 Report which has analysis of inflation, interest rates, Bitcoin, macroeconomics and our price calls.
- [Ask Keith Anything, Part I](https://www.monetary-metals.com/insights/podcasts/aka-part-i/) - Thanks for all of those great questions you submitted! Make sure you follow us so you can submit question and check out all of our podcasts episodes and more.
- [Ask Keith Anything, Part II](https://www.monetary-metals.com/insights/podcasts/ask-keith-anything-part-ii/) - Thanks for all of those great questions you submitted! Make sure you follow us on Twitter, Facebook and LinkedIn and are subscribed to our YouTube Channel!
- [Ask Keith Anything, Part III](https://www.monetary-metals.com/insights/podcasts/ask-keith-anything-part-iii/) - Welcome to the third installment of our Ask Keith Anything video series. We published the call for questions far and wide to our readership, and the response was overwhelming! We received questions from all over the world. Now we've published the results! In this episode, Keith answers your questions on Bitcoin, supply chain bottlenecks, banking,
- [Ep 33 - Legal Tender, Alternative Currencies, and the Federal Reserve with Larry Hilton](https://www.monetary-metals.com/insights/podcasts/ep33-larry-hilton/) - In this episode of the Gold Exchange Podcast CEO of Monetary Metals Keith Weiner interviews President of United Precious Metals Association Larry Hilton.
- [Ep 34 - The BearLord: A Recession Cometh](https://www.monetary-metals.com/insights/podcasts/ep-34-the-bearlord/) - We welcome Travis Kimmel, AKA the Dollar Fatalist, the Crusher of Cryptocurrency dreams, the illustrious BearLord, onto the Gold Exchange Podcast!
- [Ep 35 - Paul Belanger: Evidence Based Wealth](https://www.monetary-metals.com/insights/podcasts/ep-35-paul-belanger/) - ​Paul Belanger joins the Gold Exchange Podcast to talk about his gold analysis and how much gold is the "right amount" to have in an investment portfolio.
- [Ep 37 - Brent Johnson: The Dollar Milkshake Theory Explained](https://www.monetary-metals.com/insights/podcasts/ep-37-brent-johnson/) - Brent Johnson joins the podcast to talk about the Dollar Milkshake Theory, why everyone should own gold, and the perversity of the dollar system.
- [Ep 39 - Tavi Costa: Breaking Down the Pressures on the Market](https://www.monetary-metals.com/insights/podcasts/ep-39-tavi-costa/) - Tavi Costa of Crescat Capital joins the Gold Exchange Podcast to talk about the current state of the market and what future indicators to watch.
- [Ep 40 - Dan Oliver Jr: Markets Will Force the Fed to Balance](https://www.monetary-metals.com/insights/podcasts/ep-40-dan-oliver/) - Dan Oliver of Myrmikan Capital joins the Gold Exchange Podcast to talk about the history of credit bubbles, the inevitability of central bank failure, and more.
- [Ep 41 - Brien Lundin: Addicted to Ever-Easier Credit](https://www.monetary-metals.com/insights/podcasts/ep-41-brien-lundin/) - Brien Lundin talks about the New Orleans Investment Conference, the inside scoop on past and future speakers, and how investorsview today's credit environment.
- [Ep - 42 Maximilian Göbel: Can Central Banks Slay the Zombie Hordes?](https://www.monetary-metals.com/insights/podcasts/ep-42-gobel-zombie-hordes/) - Zombie researcher Maximilian Goebel joins Keith and Ben on the Gold Exchange Podcast to talk about one of the scariest creatures that the Fed has created.
- [Ep 43 - Jim Brown: Financial Repression and Zombification](https://www.monetary-metals.com/insights/podcasts/ep-43-jim-brown-zombification/) - In our latest Zombie Month episode, we welcome "Hard Money" Jim Brown, a Monetary Metals Board Member, onto the Gold Exchange Podcast to talk zombies and more
- [Ep 44 - Dominic Frisby: Inflation of Political Stupidity](https://www.monetary-metals.com/insights/podcasts/ep-44-dominic-frisby/) - Comedian, commentator, and author Dominic Frisby joins Ben and Keith LIVE in New Orleans for a special edition of the Gold Exchange podcast.
- [Ep 45 - Danielle Lacalle: The Case for the People's Zombification](https://www.monetary-metals.com/insights/podcasts/ep-45-danielle-lacalle/) - Daniel Lacalle discusses the recent fallout in the UK, the pressures building up in the global economy, and the central banks creation of zombie firms.
- [Ep 46 - Glen Whitman and James Dow: Economics of the Undead](https://www.monetary-metals.com/insights/podcasts/ep-46-economics-of-the-undead/) - In the last episode of Zombie Month we welcome James Dow and Glen Whitman onto the Gold Exchange Podcast to discuss the Economics of the Undead.
- [Ep 47 - Lobo Tiggre: The Future of the Dollar, Gold, and Commodities](https://www.monetary-metals.com/insights/podcasts/ep-47-lobo-tiggre/) - Lobo breaks down why the tech sector will be hit hard by the "banana", why the inevitable does not mean the imminent, what it means for commodities, and more!.
- [Ep 48 - Peter Boockvar: What Will Cause the Fed to Pivot?](https://www.monetary-metals.com/insights/podcasts/ep-48-peter-boockvar/) - Chief Investment Officer of Bleakley Financial Group Peter Boockvar joins the Gold Exchange Podcast to discuss market dynamics, the Fed pivot, and more!
- [Ep 49 - Larry Lepard: Fighting the Broken Monetary System](https://www.monetary-metals.com/insights/podcasts/ep-49-larry-lepard/) - Larry Lepard, Managing Partner at Equity Management Associates and vocal sound money advocate, joins the Gold Exchange Podcast LIVE in New Orleans!
- [Ep 50 - Brent Johnson: Has the Dollar Milkshake Spilled or Just Begun?](https://www.monetary-metals.com/insights/podcasts/ep-50-brent-johnson/) - Is the dollar heading to new heights or new lows? Will Powell be able to solve Triffin's Dilemma? Will the financial justice warriors finally be vindicated?
- [Ep 51 - Bryan Caplan: Economic Principles for Genuine Justice](https://www.monetary-metals.com/insights/podcasts/ep-51-bryan-caplan/) - Bryan Caplan, Professor of Economics at George Mason University, joins the podcast to talk about his latest book, the minimum wage, betting, and much more!
- [Ep 52 - Jeff Snider: Solving the Eurodollar Puzzle](https://www.monetary-metals.com/insights/podcasts/ep-52-jeff-snider-eurodollar-system/) - Jeff Snider, Headmaster of Eurodollar University, joins the podcast to talk about the perverse complexities of the Eurdollar system. What even is a Eurodolllar?
- [Outlook for Gold in 2023](https://www.monetary-metals.com/insights/podcasts/outlook-for-gold-in-2023/) - CEO Keith Weiner discusses his outlook on markets and macro, silver demonetization, the impact of rate hikes on gold and silver prices in 2023, and more!
- [Ep 54 - EPIC RANT: The Fed's Demand Destruction is Immoral](https://www.monetary-metals.com/insights/podcasts/ep-54-demand-destruction/) - An epic rant by Keith Weiner debunking the idea of a soft landing through demand destruction, and the inflation-unemployment trade-off.
- [Ep 56 - Jason Cozens: The Solution to Bank Risk is Gold](https://www.monetary-metals.com/insights/podcasts/ep-56-jason-cozens/) - Jason Cozens, founder and CEO of Glint, discusses the future of money and the role that gold can play in a modern financial system, riddled with banking risks.
- [Bryan Caplan: Ugly Economic Truths](https://www.monetary-metals.com/insights/podcasts/bryan-caplan-2/) - Economist and bestselling author Bryan Caplan is back on the podcast to debunk the conventional thinking on democracy, Keynesiansim, education, mental illness, and more. Bryan asks and answers some of the most pressing questions of the day: Should Jerome Powell support abolishing the minimum wage? Does this dress make me look fat? Can free market
- [Ep 57 - Danielle DiMartino Booth: Threading the Fed Needle](https://www.monetary-metals.com/insights/podcasts/ep-57-danielle-dimartino-booth-fed-needle/) - Which do you think is going to be more likely: That the Fed hikes higher than during Volcker or the Fed funds rate never falls below 4 % ever again?
- [Ep-58 Jeff Deist: Shaping the Future of Money and Credit](https://www.monetary-metals.com/insights/podcasts/ep-58-jeff-deist/) - Jeff Deist makes his first appearance on the podcastt to talk about why he joined Monetary Metals and what he sees for the future of money and credit.
- [Ep-59 Spencer Jakab: Meme Stonks and Manic Markets](https://www.monetary-metals.com/insights/podcasts/ep-59-spencer-jakab/) - Is the reverse Jim Cramer fund better than listening to Jim Cramer? Will AI revolutionize finance? Can markets handle veganism?
- [Ep-60 Doomberg: The Rules Don't Matter Anymore](https://www.monetary-metals.com/insights/podcasts/ep-60-doomberg/) - Doomberg joins to discuss green energy pivot, whether a nuclear renaissance is possible, why the rules don't matter anymore, and what it means for the future.
- [Tavi Costa: Golden Strategy in a Frothy Market](https://www.monetary-metals.com/insights/podcasts/tavi-costa-2/) - Tavi Costa joins the Gold Exchange to dive into the current state of the markets, discussing the potential risks and opportunities ahead.
- [John Reade: Cold Hard Truths About Gold](https://www.monetary-metals.com/insights/podcasts/john-reade/) - You don't get something that's established a 3,000-year history without having some pretty decent qualities. Gold is unique in its ability to...
- [Hugh Hendry: The Acid Capitalist Unfiltered](https://www.monetary-metals.com/insights/podcasts/acid-capitalist-unfiltered/) - Hugh Hendry joins the Gold Exchange to talk about the underlying reasons for the coming banking crisis and the failure of the Yuan and the BRICS countries.
- [The Equation the Fed Doesn't Want to Know](https://www.monetary-metals.com/insights/podcasts/the-equation-the-fed-doesnt-want-to-know/) - No matter what happens to the interest rate, the return on capital has to be greater than the interest rate because the interest rate is the cost of capital.
- [Bob Elliott: The Case for The Contra Currency](https://www.monetary-metals.com/insights/podcasts/bob-elliott/) - Bob Elliott joins to talk about why gold can be better than bonds, why the economy hasn't hit a recession yet, and what it'll take to make asset prices fall.
- [Brien Lundin: Fighting the Crisis Cycle](https://www.monetary-metals.com/insights/podcasts/brien-lundin-crisis-cycle/) - "They have to come up with shock and awe to get the same effect because the patient is addicted not to easy money, but to ever easier money."
- [Brent Johnson: The Game is Rigged for the Dollar](https://www.monetary-metals.com/insights/podcasts/brent-johnson-the-game-is-rigged/) - Brent Johnson joins the podcast to discuss the global economy, the role of gold, and the dominance of the US dollar despite fiscal and monetary madness.
- [Jeff Snider: There Is No Alternative... Yet](https://www.monetary-metals.com/insights/podcasts/jeff-snider-tina/) - Jeff Snider joins the Gold Exchange Podcast to discuss the challenges of replacing the dollar and where alternatives stand. Keith and Jeff discuss the need for infrastructure to support the widespread adoption of an alternative currency, the limitations of indicators like the yield curve, and why the economy doesn't work the way you think it
- [Jim Iuorio: Rolling the Monetary Dice](https://www.monetary-metals.com/insights/podcasts/jim-iuorio/) - Jim Iuorio joins the podcast to talk about the consequences of deficient spending, and why the Fed is rolling the dice with our monetary system.
- [Gwen Preston: Structural Cracks Showing](https://www.monetary-metals.com/insights/podcasts/gwen-preston-gep/) - Gwen Preston, the Resource Maven, joins the podcast to discuss the rate hike cycle, the signs of market instability, and the implications for gold
- [Jeff Clark: Battling Black Swans](https://www.monetary-metals.com/insights/podcasts/jeff-clark-battling-black-swans/) - Jeff Clark joins the podcast to discuss the importance of gold in a portfolio, the impact of higher interest rates, black swan events, and more!
- [Dominic Frisby: The Future of Financial Warfare](https://www.monetary-metals.com/insights/podcasts/dominic-frisby-financial-warfare/) - Dominic Frisby joins the podcast to discuss gold and bitcoin, the future of financial warfare, and if markets rally or wreck from here.
- [Adrian Day: Don't Ignore Opportunity](https://www.monetary-metals.com/insights/podcasts/adrian-day-dont-ignore-opportunity/) - Adrian Day shares his insights on the economy's resilience, the role of central banks, and the importance of considering investment opportunities beyond the US. Additional Resources Adrian Day Earn a yield on gold, paid in gold The Case for Gold Yield in Investment Portfolios Podcast Chapters [00:00:00]: Adrian Day [00:00:28]: Backstory [00:01:13]: Impact of Interest
- [Danielle DiMartino Booth: No More Zero Bound](https://www.monetary-metals.com/insights/podcasts/dimartino-booth-no-more-zero-bound/) - Danielle DiMartinoBooth of Quill Intelligence expresses skepticism about CBDCs, gives arguments for owning gold, and odds on the likelihood of a Powell coup.
- [Dana Samuelson: Gold Shaking Off Headwinds](https://www.monetary-metals.com/insights/podcasts/dana-samuelson-gold-headwinds/) - Dana Samuelson of AmerGold joins the podcast to talk about the factors affecting gold. Samuelson discusses the resilience of gold facing financial headwinds...
- [The Fate of the Dollar: Brent Johnson, Jeff Deist, Keith Weiner](https://www.monetary-metals.com/insights/podcasts/the-fate-of-the-dollar/) - Brent Johnson, Jeff Deist, and Keith Weiner discuss the fate of the US Dollar at the 2023 New Orleans Investment Conference.
- [Albert Lu: More Pressure Means Bigger Moves](https://www.monetary-metals.com/insights/podcasts/albert-lu/) - Albert Lu of Luma Financial joins the podcast to discuss market trends in gold, commodities, and where pressure is building for potential explosive upside.
- [Northstar & Badcharts: Charting with Gold](https://www.monetary-metals.com/insights/podcasts/northstar-badcharts-charting-with-gold/) - Patrick Karim and Kevin Wadsworth of Northstarbadcharts.com join the podcast to talk about charting, gold as money, and answer a rapid-fire question round.

## News

- [Hiren Chandaria to lead Middle East & Asia operations](https://www.monetary-metals.com/about-us/newsroom/monetary-metals-appoints-industry-veteran-to-lead-middle-east-asia-operations/) - Hiren Chandaria, Managing Director, Middle East & Asia Operations for Monetary Metals will drive growth across key gold markets across the globe.
- [Jeffrey Rhodes to drive global gold leasing expansion](https://www.monetary-metals.com/about-us/newsroom/monetary-metals-welcomes-industry-veteran-jeffrey-rhodes-to-drive-global-gold-leasing-expansion/) - Rhodes will be Managing Director of Business Development, Middle East and Asia and will help to accelerate the growth of Monetary Metals gold leasing business.
- [Monetary Metals funds 15,515 oz gold lease to Jawhara Jewellers](https://www.monetary-metals.com/about-us/newsroom/monetary-metals-funds-15515-oz-gold-lease-to-jawhara-jewellers/) - A major jeweler has moved its gold financing relationship from their traditional bank to Monetary Metals gold lease financing.
- [Monetary Metals statement regarding AgaBullion](https://www.monetary-metals.com/about-us/newsroom/monetary-metals-statement-regarding-agabullion/) - Monetary Metals notified clients on Friday January 23, concerning the company’s gold lease with AgaBullion, a major precious metals services company in Turkey.
- [Monetary Metals partners with Streamex](https://www.monetary-metals.com/about-us/newsroom/monetary-metals-partners-with-streamex/) - Monetary Metals partners with real-world asset tokenization company Streamex to provide yield on gold bullion with $1 billion USD in near-term lease capacity
- [Honey Badger Silver to earn silver yield with Monetary Metals](https://www.monetary-metals.com/about-us/newsroom/honey-badger-silver-to-earn-silver-yield-with-monetary-metals/) - Monetary Metals is delighted to partner with Honey Badger Silver as they deploy their capital into productive, yield-generating silver assets.
- [RIA launches private fund to invest in Monetary Metals gold yield products ](https://www.monetary-metals.com/about-us/newsroom/ria-launches-private-fund-to-invest-in-monetary-metals-gold-yield-products/) - Andorra Capital LLC, a Nebraska based RIA (Registered Investment Advisor), has launched the GoldRush Yield Fund through Monetary Metals!
- [Monetary Metals Finances Jeweler's Growth](https://www.monetary-metals.com/about-us/newsroom/monetary-metals-finances-jewelers-growth/) - Monetary Metals announces a 150% increase in its gold financing of GBI's 22- and 24-karat luxury gold jewelry collection, Auvere™.
- [Monetary Metals partners with Gullak to bring gold yield to India](https://www.monetary-metals.com/about-us/newsroom/monetary-metals-partners-with-gullak-to-bring-gold-yield-to-india/) - This collaboration between Gullak and Monetary Metals to bring gold yield to India marks a major milestone in the companies global expansion strategy.
- [Monetary Metals and AgaOne sign agreement to distribute gold yield products in Turkey ](https://www.monetary-metals.com/about-us/newsroom/monetary-metals-and-agaone-sign-agreement-to-distribute-gold-yield-products-in-turkey/) - The recently announced partnership between Monetary Metals and AgaOne is expected to unlock over 5,000 tons of potential demand for gold yield products.
- [Monetary Metals and Goldstrom Group announce strategic partnership](https://www.monetary-metals.com/about-us/newsroom/monetary-metals-and-goldstrom-group-announce-strategic-partnership/) - Goldstrom Group announces partnership to offer Monetary Metals’ gold lease financing to its jeweler clients throughout the Gulf Cooperation Council region.
- [Honey Badger Silver and Monetary Metals form strategic partnership to generate silver yield](https://www.monetary-metals.com/about-us/newsroom/honey-badger-silver-and-monetary-metals-form-strategic-partnership-to-generate-silver-yield/) - Honey Badger Silver has announced a strategic partnership to earn physical silver income through Monetary Metals' innovative silver lease and bond programs.
- [Monetary Metals announces multijurisdictional gold lease to Kalyan Jewellers](https://www.monetary-metals.com/about-us/newsroom/monetary-metals-announces-multijurisdictional-gold-lease-to-kalyan-jewellers/) - We are meeting the operational needs of world-class jewelers in multiple jurisdictions, while delivering attractive yields on gold to our growing client base.
- [Monetary Metals named to the 2025 Inc. 5000 list](https://www.monetary-metals.com/about-us/newsroom/monetary-metals-named-to-the-2025-inc-5000-list/) - Monetary Metals has been named to the 2025 Inc. 5000 list, ranking No. 677 overall, ranking in the top 15% of America’s fastest-growing private companies
- [Monetary Metals Leases Silver to Pietro Galliani Brazing](https://www.monetary-metals.com/about-us/newsroom/monetary-metals-leases-silver-to-pietro-galliani-brazing-s-p-a/) - Monetary Metals expands lease portfolio to include 100-year-old silver alloy manufacturer Pietro Galliani Brazing S.p.A. , based in Vergato, Ialy.
- [Monetary Metals welcomes Brent Johnson to its advisory board](https://www.monetary-metals.com/about-us/newsroom/monetary-metals-welcomes-brent-johnson-to-its-advisory-board/) - Monetary Metals attracts leading voices in finance economics who share the belief that gold with yield has the power to disrupt a $20 trillion dollar industry.
- [Monetary Metals Continues Growth in UAE with Leading Jewelry Retailer in Dubai](https://www.monetary-metals.com/about-us/newsroom/monetary-metals-continues-growth-in-uae-with-leading-jewelry-retailer-in-dubai/) - Monetary Metals continues to expand its presence in the United Arab Emirates through a new gold lease to a jewelry manufacturer and retailer based in Dubai.
- [Monetary Metals partners with ORO Labs](https://www.monetary-metals.com/about-us/newsroom/monetary-metals-partners-with-oro-labs/) - Monetary Metals partners with ORO Lans to launch yield-bearing gold token.
- [Monetary Metals Raises $1.3 million to Deliver Yield on Precious Metals Investments](https://www.monetary-metals.com/about-us/newsroom/monetary-metals-raises-1-3-million-to-deliver-yield-on-precious-metals-investments/) - Monetary Metals provides financing to precious metal-using businesses while paying interest to owners of gold and silver. Scottsdale, Ariz., September 4, 2020—Monetary Metals® announces the close of its $1.3 million equity capital round, having raised over $3 million. Monetary Metals operates a transparent marketplace where savers earn interest on their gold, while gold-using businesses obtain user-friendly
- [Monetary Metals Partners with OGold](https://www.monetary-metals.com/about-us/newsroom/monetary-metals-partners-with-ogold-to-expand-its-gold-yield-products/) - Monetary Metals is expanding its global reach through strategic partnerships, and OGold is our first partner from Dubai to join the Gold Yield Marketplace®.
- [Monetary Metals Achieves SOC 2 Certification](https://www.monetary-metals.com/about-us/newsroom/monetary-metals-achieves-soc-2-certification/) - This significant milestone demonstrates the company’s unwavering commitment to maintaining a secure environment for its innovative platform.
- [Monetary Metals Delivers Over 1 Million Silver Ounces to Bunker Hill Mining](https://www.monetary-metals.com/about-us/newsroom/monetary-metals-delivers-over-1-million-ounces-in-silver-bond-financing-to-bunker-hill-mining-corporation/) - Monetary Metals is proud to announce the delivery of over 1 million ounces in silver bond financing to Bunker Hill Mining Corporation.
- [Monetary Metals Adds Innovative Insurance](https://www.monetary-metals.com/about-us/newsroom/monetary-metals-adds-innovative-insurance/) - Monetary Metals announces that it is working with a leading global insurance carrier to further reduce the risk of its gold fixed-income product by including a difference in conditions policy that covers losses which are not paid by the primary insurance held by the business using the gold.
- [Monetary Metals Fund Leases Silver at 1%](https://www.monetary-metals.com/about-us/newsroom/monetary-metals-fund-leases-silver-at-1/) - Monetary Metals' Gold Exponential Fund™ is leasing silver at a cost of 1% per annum, adding a fixed-cost tier to its capital structure. The Fund has access to leverage at a rate well under LIBOR.
- [Monetary Metals Adds Third-Party Fund Administrator](https://www.monetary-metals.com/about-us/newsroom/monetary-metals-adds-third-party-fund-administrator/) - Monetary Metals Gold Exponential Fund is under supervision by NAV Consulting Group
- [Monetary Metals Finances Scottsdale Precious Metals at 5.5%](https://www.monetary-metals.com/about-us/newsroom/monetary-metals-finances-scottsdale-precious-metals-at-5-5/) - Monetary Metals Finances Scottsdale Precious Metals at 5.5% True gold lease finances vintage jewelry Scottsdale, Ariz., May 2, 2017—Monetary Metals announces that it has provided gold financing to Scottsdale Precious Metals. The gross interest rate is 5.5%. Monetary Metals purchased the inventory of Scottsdale Precious Metals, and leases it back. Monetary Metals paid for it
- [Monetary Metals Leases Gold to Valaurum at 4.75%](https://www.monetary-metals.com/about-us/newsroom/monetary-metals-leases-gold-to-valaurum-at-4-75/) - Monetary Metals leases gold to Valaurum at 4.75%, renewing and growing a previous Monetary Metals lease, to be used in Valaurum's manufacturing process.
- [Monetary Metals Welcomes Ronald-Peter Stöferle and Mark Valek to Advisory Board](https://www.monetary-metals.com/about-us/newsroom/monetary-metals-welcomes-ronald-peter-stoferle-and-mark-valek-to-advisory-board/) - Monetary Metals® is pleased to announce the addition of gold investment experts Ronald-Peter Stöferle and Mark Valek to its Advisory Board.
- [Monetary Metals Secures over $5 Million in Latest Equity Capital Raise](https://www.monetary-metals.com/about-us/newsroom/monetary-metals-secures-over-5-million-in-latest-equity-capital-raise/) - Monetary Metals is pleased to announce the successful completion of a $5.6 million equity capital raise via a private placement offering.
- [Monetary Metals Partners With Quintric](https://www.monetary-metals.com/about-us/newsroom/monetary-metals-partners-with-quintric/) - Monetary Metals announces a partnership with Quintric Corporation. Quintric began earning a Yield on Gold, Paid in Gold® through its recent participation in Monetary Metals financing of Valaurum and active involvement in upcoming Monetary Metals financing opportunities.
- [Monetary Metals Provides Gold Loan to Sector Resources](https://www.monetary-metals.com/about-us/newsroom/monetary-metals-provides-gold-loan-to-sector-resources/) - The loan is denominated in gold with interest and principal paid in gold
- [Monetary Metals Publishes Eighth Annual Gold Outlook Report](https://www.monetary-metals.com/about-us/newsroom/monetary-metals-publishes-eighth-annual-gold-outlook-report/) - Monetary Metals has released its eighth annual Gold Outlook Report. The report features award-winning economic analysis and forecasts for gold prices in 2024.
- [Monetary Metals Partners with Coinhuskers](https://www.monetary-metals.com/about-us/newsroom/monetary-metals-partners-with-coinhuskers/) - Monetary Metals is pleased to announce a partnership with Coinhuskers, who specialize in the buying and selling of precious metals bullion, coins, and currency.
- [Monetary Metals Completes $12 Million Gold Bond Sale to Fuel Growth](https://www.monetary-metals.com/about-us/newsroom/monetary-metals-completes-12-million-gold-bond-sale-to-fuel-growth/) - Monetary Metals is pleased to announce the completion of a gold bond sale totaling 4,774 ounces of gold, approximately $12 million USD.
- [Monetary Metals Delivers Instant Yield on Gold and Silver](https://www.monetary-metals.com/about-us/newsroom/monetary-metals-delivers-instant-yield-on-gold-and-silver/) - Monetary Metals' clients earned big gains by converting their gold and silver coins and bars into bulk bullion, via an arbitrage opportunity in retail premiums.
- [Monetary Metals Proves Marketplace for Gold Yield with Valaurum Gold Lease](https://www.monetary-metals.com/about-us/newsroom/monetary-metals-proves-marketplace-for-gold-yield-with-valaurum-gold-lease/) - Monetary Metals is pleased to announce a new gold lease, paying 2.25% interest on gold, to Valaurum to expand production of the Aurum®, their gold currency unit
- [Monetary Metals Completes Gold Lease to European Refiner L’Orfebre](https://www.monetary-metals.com/about-us/newsroom/monetary-metals-gold-lease-to-lorfebre/) - Monetary Metals has leased gold to L’Orfebre, a European precious metals refiner, expanding its portfolio to include five industry verticals on four continents.
- [Monetary Metals Partners with Alpine Gold Exchange](https://www.monetary-metals.com/about-us/newsroom/monetary-metals-partners-with-alpine-gold-exchange/) - Monetary Metals® announces a new partnership with Alpine Gold Exchange, which enables Alpine's clients to seamlessly earn a yield on their gold and silver.
- [Monetary Metals Releases Its Annual Gold Price Outlook Report](https://www.monetary-metals.com/about-us/newsroom/monetary-metals-releases-its-annual-gold-price-outlook-report-2022/) - Monetary Metals has released its annual Outlook Report, an in-depth look at the macroeconomic factors for 2022, and their predictions for gold and silver.
- [Monetary Metals Completes Latest Capital Raise](https://www.monetary-metals.com/about-us/newsroom/monetary-metals-capital-raise/) - Monetary Metals® has recently closed a $4.5 million equity capital raise, bringing the total funds raised to over $8.5 million.
- [Monetary Metals Ramps Up its Gold Bond Program with Akobo Minerals Deal](https://www.monetary-metals.com/about-us/newsroom/gold-bond-akobo-minerals-deal/) - Monetary Metals is pleased to announce it has closed its latest gold bond with investors aearning an annual interest rate of 19% on gold, paid in gold.
- [Monetary Metals Publishes its Seventh Annual Gold Outlook Report](https://www.monetary-metals.com/about-us/newsroom/monetary-metals-publishes-gold-outlook-report-2023/) - The seventh annual Monetary Metals Gold Outlook Report features its unique approach to macroeconomic analysis, and its price calls for gold and silver in 2023.
- [Monetary Metals Welcomes Jeff Deist as General Counsel](https://www.monetary-metals.com/about-us/newsroom/jeff-deist-press/) - Monetary Metals is pleased to welcome Jeff Deist, former President of the Mises Institute, to the team as general counsel.
- [Monetary Metals Enters into Agreement with Asahi Refining](https://www.monetary-metals.com/about-us/newsroom/pr-asahi/) - Monetary Metals is pleased to announce it has entered into an agreement with Asahi Refining, a division of Asahi Holdings.
- [Monetary Metals Launches Online Client Portal ](https://www.monetary-metals.com/about-us/newsroom/monetary-metals-launches-client-portal/) - Monetary Metals is pleased to announce the launch of its online client portal. Clients can view account balances, total interest earned in gold and silver, etc.
- [Monetary Metals Streamlines Client Onboarding Process](https://www.monetary-metals.com/about-us/newsroom/streamlines-client-onboarding/) - Monetary Metals has simplified and automated the process for onboarding new clients, with clients able to create an account in less than ten minutes online.
- [Monetary Metals Announces Agreement with AgaBullion](https://www.monetary-metals.com/about-us/newsroom/agabullion-agreement/) - Monetary Metals is pleased to announce it has leased gold to AgaBullion, a multi-line, integrated precious metals company headquartered in Istanbul.
- [Monetary Metals Leases Gold to IGR Metals Trading DMCC](https://www.monetary-metals.com/about-us/newsroom/monetary-metals-leases-gold-to-istanbul-gold-refinery/) - Monetary Metals is pleased to announce it has leased gold to IGR Metals Trading DMCC, a subsidiary of Istanbul Gold Refinery (IGR).
- [Monetary Metals and DD Metals Enter into Gold Lease Agreement](https://www.monetary-metals.com/about-us/newsroom/monetary-metals-and-dd-metals-enter-into-gold-lease-agreement/) - Monetary Metals and DD Metals DMCC are pleased to announce they have signed a gold lease agreement to finance DD Metals’ inventory and increase trading volumes.
- [Swiss Portfolio Manager Launches Gold-Denominated Note Targeting 6-8% on Gold](https://www.monetary-metals.com/about-us/newsroom/gefion-capital-launches-gold-denominated-note/) - The Monetary Metals® Diversified Gold Income Note will target a 6% to 8% yield on gold, paid in gold to qualified, non-US investors.
- [Monetary Metals Enters into Affiliate Partnership with Physicians on FIRE](https://www.monetary-metals.com/about-us/newsroom/monetary-metals-affiliate-partnership-physicians-on-fire/) - Monetary Metals is pleased to announce an affiliate partnership agreement with a leading financial website, Physicians on FIRE.
- [Monetary Metals Raises Second Equity Financing](https://www.monetary-metals.com/about-us/newsroom/monetary-metals-raises-second-equity-financing/) - Scottsdale, Ariz., June 13, 2018—Monetary Metals® announces the close of its second equity capital round, bringing the total raised to $1.5 million. The company has been raising money from individual high net worth investors globally. It will use the proceeds to elevate its profile and continue to hit its milestones. Monetary Metals has a unique
- [Monetary Metals Finances GoldSilver.com at 4%](https://www.monetary-metals.com/about-us/newsroom/monetary-metals-finances-goldsilver-com-at-4/) - Retailer of Gold Without Borders™ 24k jewelry saves money with a Monetary Metals lease Scottsdale, Ariz, June 20, 2018—Monetary Metals announces that it has leased gold to GoldSilver™, to support the growth of its line of fine gold jewelry, Gold Without Borders™, at an interest rate of 4.0%. The metal is held in the form
- [Monetary Metals Leases Gold to Quantum Metal](https://www.monetary-metals.com/about-us/newsroom/monetary-metals-leases-gold-to-quantum-metal/) - Monetary Metals lease deal is paying 4.5% gold interest to investors
- [Monetary Metals Leases Gold to Gold Bullion International](https://www.monetary-metals.com/about-us/newsroom/monetary-metals-leases-gold-to-gold-bullion-international/) - gold lease, gold interest, yield on gold paid in gold
- [Monetary Metals Leases Gold to Brite Metals](https://www.monetary-metals.com/about-us/newsroom/monetary-metals-leases-gold-to-brite-metals/) - Monetary Metals partners with Brite Metals to support artisanal gold miners
- [Monetary Metals Leases Gold to L’Orfebre, Pays Interest on Precious Metals Investments](https://www.monetary-metals.com/about-us/newsroom/monetary-metals-leases-gold-to-lorfebre-pays-interest-on-precious-metals-investments/) - Monetary Metals® announces that it has leased gold to L'Orfebre, a European refinery, to increase its access to raw materials and expand production capacity.
- [Monetary Metals Issues World’s First Gold Bond Since 1933](https://www.monetary-metals.com/about-us/newsroom/monetary-metals-issues-worlds-first-gold-bond-since-1933/) - Monetary Metals® is pleased to announce the issuance of a gold bond paying principal and interest in gold. The gold interest rate on invested gold is 13%.
- [Monetary Metals Elects Simon Guenzl to Board of Directors](https://www.monetary-metals.com/about-us/newsroom/elects-simon-guenzl-to-board-of-directors/) - Monetary Metals is pleased to announce the election of Simon Guenzl to its Board of Directors. Mr. Guenzl brings 30 years of diverse experience in finance.
- [Monetary Metals Grows Quantum Metal Gold Financing](https://www.monetary-metals.com/about-us/newsroom/monetary-metals-grows-quantum-metal-gold-financing/) - Monetary Metals announces a 137% increase in gold lease financing to Quantum Metal. The one-year gold lease pays 3% interest on gold to investors.
- [First Gold Bond in the US in 87 Years Matures](https://www.monetary-metals.com/about-us/newsroom/first-gold-bond-in-the-us-in-87-years-matures/) - The first gold bond issued in the United States in 87 years has matured. Monetary Metals' investors received back their gold principal, and interest in gold.
- [Monetary Metals Closes First Gold Fixed Income Deal at 5%](https://www.monetary-metals.com/about-us/newsroom/monetary-metals-closes-first-gold-fixed-income-deal-at-5/) - At FreedomFest, Monetary Metals announces that it has closed its first gold fixed income deal, to finance the gold working inventory of Valaurum.
- [Monetary Metals Builds Out Its Team of Professionals](https://www.monetary-metals.com/about-us/newsroom/monetary-metals-builds-out-its-team-of-professionals/) - New York, NY, October 20, 2016—Monetary Metals announces that it has hired three Relationship Managers. This team works to identify investors who can benefit from the Monetary Metals Gold Exponential Fund, the only fund that offers a yield on gold, paid in gold ounces. The company has set a goal of 60,000 ounces (about two
- [Monetary Metals Raises $506,000 in $400,000 Equity Financing](https://www.monetary-metals.com/about-us/newsroom/monetary-metals-raises-506000-in-400000-equity-financing/) - Scottsdale, Ariz., November 18, 2016—Monetary Metals announces that it has raised over $506,000 in equity capital. The pre-money valuation of the company was $3,000,000. The company had set out to raise $400,000, so the round closed at 27% oversubscribed. The company plans to use the proceeds to accelerate its gold fixed-income product, its marketing including
- [Monetary Metals Partners with Broker-Dealer Ashton Stewart & Co., Inc. to Market and Offer its Investment Funds](https://www.monetary-metals.com/about-us/newsroom/monetary-metals-partners-with-broker-dealer-ashton-stewart-co-inc-to-market-and-offer-its-investment-funds/) - SCOTTSDALE, Ariz., Sept. 29, 2016 /PRNewswire/ -- Monetary Metals announces its partnership with Ashton Stewart & Co., Inc. (Ashton Stewart). Ashton Stewart will offer the Monetary Metals Gold Exponential Fund to accredited investors. Ashton Stewart is a FINRA-licensed broker-dealer headquartered in New York. Ashton Stewart will also provide compliance for Monetary Metals' growing sales team.
- [Monetary Metals Finances Scottsdale Precious Metals Silver at 5.75%](https://www.monetary-metals.com/about-us/newsroom/monetary-metals-finances-scottsdale-precious-metals-silver-at-5-75/) - True silver lease finances vintage silver jewelry SCOTTSDALE, Ariz., June 1, 2017 - Monetary Metals announces that it has provided silver financing to Scottsdale Precious Metals. The gross interest rate is 5.75%. Monetary Metals purchased the inventory of Scottsdale Precious Metals, and leases it back. Monetary Metals provided silver to the company, and will receive
- [Monetary Metals Brings Back the Gold Forward Rate](https://www.monetary-metals.com/about-us/newsroom/monetary-metals-brings-back-the-gold-forward-rate/) - Monetary Metals announces that it is now publishing the gold forward rate (GOFO), calculated using public market data. The MM GOFO™ has better than 0.99 correlation to the historical GOFO published by the London Bullion Market Association (LBMA). The company also publishes the silver forward rate, MM SIFO™.
- [Monetary Metals Provides Charts to Goldseiten](https://www.monetary-metals.com/about-us/newsroom/monetary-metals-provides-charts-to-goldseiten/) - Monetary Metals® announces that it has licensed its gold forward rate (MM GOFO™), silver forward rate (MM SIFO™), gold lease rate, and silver lease rate charts to German precious metals web site Goldseiten.
- [Sharps Pixley Publishes Monetary Metals® GOFO Rates](https://www.monetary-metals.com/about-us/newsroom/sharps-pixley-publishes-monetary-metals-gofo-rates/) - Sharps Pixley announces that it has licensed the Monetary Metals gold forward rate (MM GOFO™) and silver forward rate (MM SIFO™).
- [Monetary Metals Closes Insured Gold Financing at 4.5%](https://www.monetary-metals.com/about-us/newsroom/monetary-metals-closes-insured-gold-financing-at-4-5/) - Monetary Metals announces that its recent gold financing of Scottsdale Precious Metals priced at a gross interest rate of 4.5%, a full percentage point lower than previous deals. This is the first one covered by Monetary Metals’ new insurance.

## Funded Deals

- [Tajvi](https://www.monetary-metals.com/funded-deal/tajvi/)
- [PGB](https://www.monetary-metals.com/funded-deal/pgb/)
- [Quantum Metal](https://www.monetary-metals.com/funded-deal/quantum-metal/)
- [AGA Bullion](https://www.monetary-metals.com/funded-deal/aga-bullion/)
- [AgaOne Bullion GOLD LEASE](https://www.monetary-metals.com/funded-deal/aga-bullion-gold-lease/) - Gold lease objective Monetary Metals’ True Gold Lease program has one objective; to put your gold to work. This is achieved by matching gold owners with businesses that use gold productively. True Gold leases are designed to earn a yield, not to speculate on price. A true gold lease provides income on your gold, while
- [DD Metals](https://www.monetary-metals.com/funded-deal/dd-metals/)
- [Shine Resources](https://www.monetary-metals.com/funded-deal/shine-resources/)
- [Brite Metals](https://www.monetary-metals.com/funded-deal/brite-metals/)
- [Akobo Minerals](https://www.monetary-metals.com/funded-deal/akobo-minerals/)
- [Valaurum](https://www.monetary-metals.com/funded-deal/valaurum/)
- [Scottsdale Precious Metals](https://www.monetary-metals.com/funded-deal/scottsdale-precious-metals-2/)
- [Scottsdale Precious Metals](https://www.monetary-metals.com/funded-deal/scottsdale-precious-metals/)
- [Monetary Metals & Co.](https://www.monetary-metals.com/funded-deal/monetary-metals-co/)
- [L'orfebre](https://www.monetary-metals.com/funded-deal/lorfebre/)
- [Kalyan Jewellers LLC](https://www.monetary-metals.com/funded-deal/kalyan-jewellers-llc/)
- [Kalyan Jewellers Inc (US)](https://www.monetary-metals.com/funded-deal/kalyan/)
- [Jawhara](https://www.monetary-metals.com/funded-deal/jawhara/)
- [IGR Metals](https://www.monetary-metals.com/funded-deal/igr-metals/)
- [GoldSilver](https://www.monetary-metals.com/funded-deal/goldsilver-2/)
- [Gold Exponential Fund](https://www.monetary-metals.com/funded-deal/gold-exponential-fund/)
- [GBI Auvere](https://www.monetary-metals.com/funded-deal/gbi-auvere/)
- [Bunker Hill](https://www.monetary-metals.com/funded-deal/bunker-hill/)

## Reports and White Paper

- [Gold Outlook 2026 Report](https://www.monetary-metals.com/insights/research/gold-outlook-2026-report/) - Explore the global shift toward monetary competition, emerging winners, and how gold and silver are evolving. Includes market analysis and 2026 price outlooks.
- [How Not to Think About Gold](https://www.monetary-metals.com/insights/research/how-not-to-think-about-gold/) - Beware the eight most common fallacies of gold Over a decade spent debunking false theories on gold has armed us with a sizable arsenal of misconceptions on how to think, value, understand and invest in gold and silver. From interest rate changes to the collapse of the US dollar, this guide refutes the most pervasive
- [Earn Passive Income in Gold](https://www.monetary-metals.com/insights/research/earn-passive-income-in-gold/) - Gold has a (very) strong track record of price appreciation against the dollar. Diversify your passive income with monthly interest paid in gold and silver.
- [The Case for Gold Yield](https://www.monetary-metals.com/insights/research/white-paper-the-case-for-gold-yield/) - In this white paper, we reproduce the research showing the benefits of adding gold to a diversified portfolio.
- [The New Way to Hold Gold](https://www.monetary-metals.com/insights/research/the-new-way-to-hold-gold/) - Gold and silver are reliable assets during times of economic uncertainty. See how owning gold and silver with Monetary Metals compares to conventional options.

## Popup Builder

- [Earn up to 4% on gold](https://www.monetary-metals.com/popupbuilder/earn-4-on-gold/) - Earn 4% on gold, paid in gold, with Monetary Metals. Get real physical gold paid directly to your account every month
- [Gold Outlook Report 2025 Popup](https://www.monetary-metals.com/popupbuilder/earn-4-on-gold-2/) - This report is brought to you by Monetary Metals®. Monetary Metals is Unlocking the Productivity of Gold™ by offering a Yield on Gold, Paid in Gold®
- [How Not To Think About Gold](https://www.monetary-metals.com/popupbuilder/gold-report-2/) - DON'T GET FOOLED! Download our free guide to navigate the gold market like a pro! [gravityform id="20" title="false" description="true" ajax="true"] We do not share your information, and you can unsubscribe any time. More here: Privacy Policy and Terms
- [Gold report](https://www.monetary-metals.com/popupbuilder/gold-report/) - Get the best precious metals analysis in your inbox! [gravityform id="19" title="false" description="true" ajax="true"] We do not share your information, and you can unsubscribe any time. More here: Privacy Policy and Terms

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- [Monetary Metals In the News](https://www.monetary-metals.com/category/news/)
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- [The Gold Exchange Podcast](https://www.monetary-metals.com/category/goldexchange-podcast/)
- [Gold Exchange Report](https://www.monetary-metals.com/category/gold-exchange/) - The Gold Exchange Report is Keith Weiner’s monthly commentary incorporating Keith’s unique insights into monetary science and economic theory. He riffs on markets, metals, macro and money.

## Tags

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- [central planning](https://www.monetary-metals.com/tag/central-planning/)
- [common sense](https://www.monetary-metals.com/tag/common-sense/)
- [physics](https://www.monetary-metals.com/tag/physics/)
- [monics](https://www.monetary-metals.com/tag/monics/)
- [Lysenko](https://www.monetary-metals.com/tag/lysenko/)
- [Lysenkoism](https://www.monetary-metals.com/tag/lysenkoism/)
- [capital raise](https://www.monetary-metals.com/tag/capital-raise/)
- [equity round](https://www.monetary-metals.com/tag/equity-round/)
- [equity investment](https://www.monetary-metals.com/tag/equity-investment/)
- [social security](https://www.monetary-metals.com/tag/social-security/)
- [ponzi](https://www.monetary-metals.com/tag/ponzi/)
- [pension](https://www.monetary-metals.com/tag/pension/)
- [irredeemable currency](https://www.monetary-metals.com/tag/irredeemable-currency/)
- [wealth effect](https://www.monetary-metals.com/tag/wealth-effect/)
- [capital destruction](https://www.monetary-metals.com/tag/capital-destruction/)
- [gdp](https://www.monetary-metals.com/tag/gdp/)
- [gold bond](https://www.monetary-metals.com/tag/gold-bond/)
- [debt](https://www.monetary-metals.com/tag/debt/)
- [pay off the debt](https://www.monetary-metals.com/tag/pay-off-the-debt/)
- [gold mining](https://www.monetary-metals.com/tag/gold-mining/)
- [reset](https://www.monetary-metals.com/tag/reset/)
- [money supply](https://www.monetary-metals.com/tag/money-supply/)
- [price fixing](https://www.monetary-metals.com/tag/price-fixing/)
- [gold backed](https://www.monetary-metals.com/tag/gold-backed/)
- [free market](https://www.monetary-metals.com/tag/free-market/)
- [financial repression](https://www.monetary-metals.com/tag/financial-repression/)
- [gold fixed income](https://www.monetary-metals.com/tag/gold-fixed-income/)
- [gold price](https://www.monetary-metals.com/tag/gold-price/)
- [price of gold](https://www.monetary-metals.com/tag/price-of-gold/)
- [diminishing returns](https://www.monetary-metals.com/tag/diminishing-returns/)
- [dimensional analysis](https://www.monetary-metals.com/tag/dimensional-analysis/)
- [quantity theory of money](https://www.monetary-metals.com/tag/quantity-theory-of-money/)
- [stocks to flows](https://www.monetary-metals.com/tag/stocks-to-flows/)
- [JP Morgan](https://www.monetary-metals.com/tag/jp-morgan/)
- [character](https://www.monetary-metals.com/tag/character/)
- [new paradigm](https://www.monetary-metals.com/tag/new-paradigm/)
- [real interest rate](https://www.monetary-metals.com/tag/real-interest-rate/)
- [Jason Stapleton](https://www.monetary-metals.com/tag/jason-stapleton/)
- [Peter Bell](https://www.monetary-metals.com/tag/peter-bell/)
- [Mickey Fulp](https://www.monetary-metals.com/tag/mickey-fulp/)
- [interview](https://www.monetary-metals.com/tag/interview/)
- [paradigm shift](https://www.monetary-metals.com/tag/paradigm-shift/)
- [lira](https://www.monetary-metals.com/tag/lira/)
- [unintended consequences](https://www.monetary-metals.com/tag/unintended-consequences/)
- [tariff](https://www.monetary-metals.com/tag/tariff/)
- [Nevada](https://www.monetary-metals.com/tag/nevada/)
- [repay debt](https://www.monetary-metals.com/tag/repay-debt/)
- [gold backwardation](https://www.monetary-metals.com/tag/gold-backwardation/)
- [crisis](https://www.monetary-metals.com/tag/crisis/)
- [default](https://www.monetary-metals.com/tag/default/)
- [counterparty](https://www.monetary-metals.com/tag/counterparty/)
- [third world](https://www.monetary-metals.com/tag/third-world/)
- [emerging market](https://www.monetary-metals.com/tag/emerging-market/)
- [gold collateral](https://www.monetary-metals.com/tag/gold-collateral/)
- [credit crunch](https://www.monetary-metals.com/tag/credit-crunch/)
- [collapse](https://www.monetary-metals.com/tag/collapse/)
- [efficient market](https://www.monetary-metals.com/tag/efficient-market/)
- [magical thinking](https://www.monetary-metals.com/tag/magical-thinking/)
- [Keith Weiner](https://www.monetary-metals.com/tag/keith-weiner/)
- [interest rates](https://www.monetary-metals.com/tag/interest-rates/)
- [advanced refunding bond](https://www.monetary-metals.com/tag/advanced-refunding-bond/)
- [callable bonds](https://www.monetary-metals.com/tag/callable-bonds/)
- [Tax Cuts and Jobs Act](https://www.monetary-metals.com/tag/tax-cuts-and-jobs-act/)
- [narrow bank](https://www.monetary-metals.com/tag/narrow-bank/)
- [the fed](https://www.monetary-metals.com/tag/the-fed/)
- [brittle](https://www.monetary-metals.com/tag/brittle/)
- [Turkey](https://www.monetary-metals.com/tag/turkey/)
- [Switzerland](https://www.monetary-metals.com/tag/switzerland/)
- [soft labor market](https://www.monetary-metals.com/tag/soft-labor-market/)
- [soft demand for credit](https://www.monetary-metals.com/tag/soft-demand-for-credit/)
- [churn](https://www.monetary-metals.com/tag/churn/)
- [Schumpeter](https://www.monetary-metals.com/tag/schumpeter/)
- [falling wages](https://www.monetary-metals.com/tag/falling-wages/)
- [monetary policy](https://www.monetary-metals.com/tag/monetary-policy/)
- [bid-ask](https://www.monetary-metals.com/tag/bid-ask/)
- [spread](https://www.monetary-metals.com/tag/spread/)
- [permanent backwardation](https://www.monetary-metals.com/tag/permanent-backwardation/)
- [zero interest](https://www.monetary-metals.com/tag/zero-interest/)
- [negative interest](https://www.monetary-metals.com/tag/negative-interest/)
- [Swiss franc](https://www.monetary-metals.com/tag/swiss-franc/)
- [margin compression](https://www.monetary-metals.com/tag/margin-compression/)
- [Swiss](https://www.monetary-metals.com/tag/swiss/)
- [fraud](https://www.monetary-metals.com/tag/fraud/)
- [perverse outcome](https://www.monetary-metals.com/tag/perverse-outcome/)
- [franc](https://www.monetary-metals.com/tag/franc/)
- [Jay Taylor](https://www.monetary-metals.com/tag/jay-taylor/)
- [Adam Carroll](https://www.monetary-metals.com/tag/adam-carroll/)
- [Paul Romer](https://www.monetary-metals.com/tag/paul-romer/)
- [real money](https://www.monetary-metals.com/tag/real-money/)
- [hyperinflation](https://www.monetary-metals.com/tag/hyperinflation/)
- [yuan](https://www.monetary-metals.com/tag/yuan/)
- [transparency](https://www.monetary-metals.com/tag/transparency/)
- [counterfeit](https://www.monetary-metals.com/tag/counterfeit/)
- [stablecoin](https://www.monetary-metals.com/tag/stablecoin/)
- [redeemable](https://www.monetary-metals.com/tag/redeemable/)
- [currency](https://www.monetary-metals.com/tag/currency/)
- [bank note](https://www.monetary-metals.com/tag/bank-note/)
- [deflation](https://www.monetary-metals.com/tag/deflation/)
- [purchasing power](https://www.monetary-metals.com/tag/purchasing-power/)
- [amortizing bond](https://www.monetary-metals.com/tag/amortizing-bond/)
- [bubble](https://www.monetary-metals.com/tag/bubble/)
- [ngdp](https://www.monetary-metals.com/tag/ngdp/)
- [central bank](https://www.monetary-metals.com/tag/central-bank/)
- [discount](https://www.monetary-metals.com/tag/discount/)
- [Fed](https://www.monetary-metals.com/tag/fed/)
- [unadulterated gold standard](https://www.monetary-metals.com/tag/unadulterated-gold-standard/)
- [debasement](https://www.monetary-metals.com/tag/debasement/)
- [debauching the money](https://www.monetary-metals.com/tag/debauching-the-money/)
- [Marx](https://www.monetary-metals.com/tag/marx/)
- [Keynes](https://www.monetary-metals.com/tag/keynes/)
- [armageddon](https://www.monetary-metals.com/tag/armageddon/)
- [rising rates](https://www.monetary-metals.com/tag/rising-rates/)
- [medium of exchange](https://www.monetary-metals.com/tag/medium-of-exchange/)
- [commodity](https://www.monetary-metals.com/tag/commodity/)
- [extinguisher of debt](https://www.monetary-metals.com/tag/extinguisher-of-debt/)
- [modern monetary theory](https://www.monetary-metals.com/tag/modern-monetary-theory/)
- [Alexandria Ocasio-Cortez](https://www.monetary-metals.com/tag/alexandria-ocasio-cortez/)
- [central planner](https://www.monetary-metals.com/tag/central-planner/)
- [right price](https://www.monetary-metals.com/tag/right-price/)
- [right interest rate](https://www.monetary-metals.com/tag/right-interest-rate/)
- [gold lease](https://www.monetary-metals.com/tag/gold-lease/)
- [gold interest](https://www.monetary-metals.com/tag/gold-interest/)
- [yield on gold](https://www.monetary-metals.com/tag/yield-on-gold/)
- [gold interest rate.](https://www.monetary-metals.com/tag/gold-interest-rate/)
- [interest rate](https://www.monetary-metals.com/tag/interest-rate/)
- [minimum wage](https://www.monetary-metals.com/tag/minimum-wage/)
- [price theory](https://www.monetary-metals.com/tag/price-theory/)
- [impoverishment](https://www.monetary-metals.com/tag/impoverishment/)
- [lenin](https://www.monetary-metals.com/tag/lenin/)
- [china](https://www.monetary-metals.com/tag/china/)
- [zombie](https://www.monetary-metals.com/tag/zombie/)
- [loan](https://www.monetary-metals.com/tag/loan/)
- [moneylending](https://www.monetary-metals.com/tag/moneylending/)
- [usury](https://www.monetary-metals.com/tag/usury/)
- [Aristotle](https://www.monetary-metals.com/tag/aristotle/)
- [Aquinas](https://www.monetary-metals.com/tag/aquinas/)
- [gross output](https://www.monetary-metals.com/tag/gross-output/)
- [capital creation](https://www.monetary-metals.com/tag/capital-creation/)
- [lending](https://www.monetary-metals.com/tag/lending/)
- [income](https://www.monetary-metals.com/tag/income/)
- [capital](https://www.monetary-metals.com/tag/capital/)
- [consumption](https://www.monetary-metals.com/tag/consumption/)
- [wealth](https://www.monetary-metals.com/tag/wealth/)
- [central banks](https://www.monetary-metals.com/tag/central-banks/)
- [negative interest rates](https://www.monetary-metals.com/tag/negative-interest-rates/)
- [ancient world](https://www.monetary-metals.com/tag/ancient-world/)
- [proof of work](https://www.monetary-metals.com/tag/proof-of-work/)
- [proof of stake](https://www.monetary-metals.com/tag/proof-of-stake/)
- [destroy capitalism](https://www.monetary-metals.com/tag/destroy-capitalism/)
- [overthrow the system](https://www.monetary-metals.com/tag/overthrow-the-system/)
- [breakdown](https://www.monetary-metals.com/tag/breakdown/)
- [bourgeois](https://www.monetary-metals.com/tag/bourgeois/)
- [friedman](https://www.monetary-metals.com/tag/friedman/)
- [gold bug](https://www.monetary-metals.com/tag/gold-bug/)
- [otherwise-free-marketer](https://www.monetary-metals.com/tag/otherwise-free-marketer/)
- [Basel III](https://www.monetary-metals.com/tag/basel-iii/)
- [tier 1](https://www.monetary-metals.com/tag/tier-1/)
- [net stable funding ratio](https://www.monetary-metals.com/tag/net-stable-funding-ratio/)
- [bank regulation](https://www.monetary-metals.com/tag/bank-regulation/)
- [regulation](https://www.monetary-metals.com/tag/regulation/)
- [boom](https://www.monetary-metals.com/tag/boom/)
- [bust](https://www.monetary-metals.com/tag/bust/)
- [misallocation](https://www.monetary-metals.com/tag/misallocation/)
- [malinvestment](https://www.monetary-metals.com/tag/malinvestment/)
- [useless ingredients](https://www.monetary-metals.com/tag/useless-ingredients/)
- [hedonic](https://www.monetary-metals.com/tag/hedonic/)
- [bid-ask spread](https://www.monetary-metals.com/tag/bid-ask-spread/)
- [liquidity](https://www.monetary-metals.com/tag/liquidity/)
- [marketability](https://www.monetary-metals.com/tag/marketability/)
- [silver lease](https://www.monetary-metals.com/tag/silver-lease/)
- [interest on silver](https://www.monetary-metals.com/tag/interest-on-silver/)
- [silver standard](https://www.monetary-metals.com/tag/silver-standard/)
- [rising prices](https://www.monetary-metals.com/tag/rising-prices/)
- [falling prices](https://www.monetary-metals.com/tag/falling-prices/)
- [lean](https://www.monetary-metals.com/tag/lean/)
- [efficiency](https://www.monetary-metals.com/tag/efficiency/)
- [waste](https://www.monetary-metals.com/tag/waste/)
- [theory of interest and prices](https://www.monetary-metals.com/tag/theory-of-interest-and-prices/)
- [sell treasurys](https://www.monetary-metals.com/tag/sell-treasurys/)
- [bond market](https://www.monetary-metals.com/tag/bond-market/)
- [foreign exchange](https://www.monetary-metals.com/tag/foreign-exchange/)
- [reserve currency](https://www.monetary-metals.com/tag/reserve-currency/)
- [a yield on gold paid in gold](https://www.monetary-metals.com/tag/a-yield-on-gold-paid-in-gold/)
- [gold leasing](https://www.monetary-metals.com/tag/gold-leasing/)
- [disenfranchise](https://www.monetary-metals.com/tag/disenfranchise/)
- [bond vigilante](https://www.monetary-metals.com/tag/bond-vigilante/)
- [money printing](https://www.monetary-metals.com/tag/money-printing/)
- [nuclear option](https://www.monetary-metals.com/tag/nuclear-option/)
- [irredeemable](https://www.monetary-metals.com/tag/irredeemable/)
- [Treasury](https://www.monetary-metals.com/tag/treasury/)
- [replacement of dollar](https://www.monetary-metals.com/tag/replacement-of-dollar/)
- [payments](https://www.monetary-metals.com/tag/payments/)
- [friction](https://www.monetary-metals.com/tag/friction/)
- [losses](https://www.monetary-metals.com/tag/losses/)
- [prodigal son](https://www.monetary-metals.com/tag/prodigal-son/)
- [yield on gold paid in gold](https://www.monetary-metals.com/tag/yield-on-gold-paid-in-gold/)
- [dirigisme](https://www.monetary-metals.com/tag/dirigisme/)
- [USSR](https://www.monetary-metals.com/tag/ussr/)
- [famine](https://www.monetary-metals.com/tag/famine/)
- [positive feedback](https://www.monetary-metals.com/tag/positive-feedback/)
- [nGDP targeting](https://www.monetary-metals.com/tag/ngdp-targeting/)
- [otherwise-free-marketers](https://www.monetary-metals.com/tag/otherwise-free-marketers/)
- [interest on gold](https://www.monetary-metals.com/tag/interest-on-gold/)
- [macroeconomics](https://www.monetary-metals.com/tag/macroeconomics/)
- [national account](https://www.monetary-metals.com/tag/national-account/)
- [gross revenue](https://www.monetary-metals.com/tag/gross-revenue/)
- [net income](https://www.monetary-metals.com/tag/net-income/)
- [Orwell](https://www.monetary-metals.com/tag/orwell/)
- [Newspeak](https://www.monetary-metals.com/tag/newspeak/)
- [socialism](https://www.monetary-metals.com/tag/socialism/)
- [bad credit](https://www.monetary-metals.com/tag/bad-credit/)
- [bad lending](https://www.monetary-metals.com/tag/bad-lending/)
- [equity](https://www.monetary-metals.com/tag/equity/)
- [assets](https://www.monetary-metals.com/tag/assets/)
- [liabilities](https://www.monetary-metals.com/tag/liabilities/)
- [net present value](https://www.monetary-metals.com/tag/net-present-value/)
- [npv](https://www.monetary-metals.com/tag/npv/)
- [rising liability](https://www.monetary-metals.com/tag/rising-liability/)
- [mark to market](https://www.monetary-metals.com/tag/mark-to-market/)
- [time preference](https://www.monetary-metals.com/tag/time-preference/)
- [demand for money](https://www.monetary-metals.com/tag/demand-for-money/)
- [coordination problem](https://www.monetary-metals.com/tag/coordination-problem/)
- [diktat](https://www.monetary-metals.com/tag/diktat/)
- [command economy](https://www.monetary-metals.com/tag/command-economy/)
- [fascism](https://www.monetary-metals.com/tag/fascism/)
- [Trump](https://www.monetary-metals.com/tag/trump/)
- [monetarism](https://www.monetary-metals.com/tag/monetarism/)
- [paradigm](https://www.monetary-metals.com/tag/paradigm/)
- [negative rates](https://www.monetary-metals.com/tag/negative-rates/)
- [negative yield](https://www.monetary-metals.com/tag/negative-yield/)
- [bond bubble](https://www.monetary-metals.com/tag/bond-bubble/)
- [Germany](https://www.monetary-metals.com/tag/germany/)
- [price of silver](https://www.monetary-metals.com/tag/price-of-silver/)
- [volatility](https://www.monetary-metals.com/tag/volatility/)
- [credit crisis](https://www.monetary-metals.com/tag/credit-crisis/)
- [repo](https://www.monetary-metals.com/tag/repo/)
- [repo market](https://www.monetary-metals.com/tag/repo-market/)
- [liquidation](https://www.monetary-metals.com/tag/liquidation/)
- [profit](https://www.monetary-metals.com/tag/profit/)
- [entrepreneur](https://www.monetary-metals.com/tag/entrepreneur/)
- [principal](https://www.monetary-metals.com/tag/principal/)
- [wealth tax](https://www.monetary-metals.com/tag/wealth-tax/)
- [piketty](https://www.monetary-metals.com/tag/piketty/)
- [warren](https://www.monetary-metals.com/tag/warren/)
- [sanders](https://www.monetary-metals.com/tag/sanders/)
- [ocasio-cortez](https://www.monetary-metals.com/tag/ocasio-cortez/)
- [stock market](https://www.monetary-metals.com/tag/stock-market/)
- [monetary system](https://www.monetary-metals.com/tag/monetary-system/)
- [speculation](https://www.monetary-metals.com/tag/speculation/)
- [rising assets](https://www.monetary-metals.com/tag/rising-assets/)
- [conversion of wealth to income](https://www.monetary-metals.com/tag/conversion-of-wealth-to-income/)
- [eating seed corn](https://www.monetary-metals.com/tag/eating-seed-corn/)
- [redeemability](https://www.monetary-metals.com/tag/redeemability/)
- [irredeemability](https://www.monetary-metals.com/tag/irredeemability/)
- [basket of commodities](https://www.monetary-metals.com/tag/basket-of-commodities/)
- [unit of measure](https://www.monetary-metals.com/tag/unit-of-measure/)
- [lease](https://www.monetary-metals.com/tag/lease/)
- [platinum](https://www.monetary-metals.com/tag/platinum/)
- [perverse behavior](https://www.monetary-metals.com/tag/perverse-behavior/)
- [rising interest](https://www.monetary-metals.com/tag/rising-interest/)
- [seed corn](https://www.monetary-metals.com/tag/seed-corn/)
- [capitalism](https://www.monetary-metals.com/tag/capitalism/)
- [crony capitalism](https://www.monetary-metals.com/tag/crony-capitalism/)
- [cronyism](https://www.monetary-metals.com/tag/cronyism/)
- [volcker](https://www.monetary-metals.com/tag/volcker/)
- [GDP targeting](https://www.monetary-metals.com/tag/gdp-targeting/)
- [perverse incentives](https://www.monetary-metals.com/tag/perverse-incentives/)
- [perverse outcomes](https://www.monetary-metals.com/tag/perverse-outcomes/)
- [economy](https://www.monetary-metals.com/tag/economy/)
- [predicting gold price](https://www.monetary-metals.com/tag/predicting-gold-price/)
- [gold manipulation](https://www.monetary-metals.com/tag/gold-manipulation/)
- [ted butler](https://www.monetary-metals.com/tag/ted-butler/)
- [gold market](https://www.monetary-metals.com/tag/gold-market/)
- [market maker](https://www.monetary-metals.com/tag/market-maker/)
- [crash](https://www.monetary-metals.com/tag/crash/)
- [bankruptcy](https://www.monetary-metals.com/tag/bankruptcy/)
- [insolvency](https://www.monetary-metals.com/tag/insolvency/)
- [bank run](https://www.monetary-metals.com/tag/bank-run/)
- [falling yield](https://www.monetary-metals.com/tag/falling-yield/)
- [consolidation](https://www.monetary-metals.com/tag/consolidation/)
- [supply and demand](https://www.monetary-metals.com/tag/supply-and-demand/)
- [silver fundamentals](https://www.monetary-metals.com/tag/silver-fundamentals/)
- [Treasury yield](https://www.monetary-metals.com/tag/treasury-yield/)
- [stocks](https://www.monetary-metals.com/tag/stocks/)
- [defaults](https://www.monetary-metals.com/tag/defaults/)
- [liquidity crisis](https://www.monetary-metals.com/tag/liquidity-crisis/)
- [need for cash](https://www.monetary-metals.com/tag/need-for-cash/)
- [silver market](https://www.monetary-metals.com/tag/silver-market/)
- [paper gold](https://www.monetary-metals.com/tag/paper-gold/)
- [gold shortage](https://www.monetary-metals.com/tag/gold-shortage/)
- [gold scarcity](https://www.monetary-metals.com/tag/gold-scarcity/)
- [stimulus](https://www.monetary-metals.com/tag/stimulus/)
- [fiscal](https://www.monetary-metals.com/tag/fiscal/)
- [monetary](https://www.monetary-metals.com/tag/monetary/)
- [exponential](https://www.monetary-metals.com/tag/exponential/)
- [alchemy](https://www.monetary-metals.com/tag/alchemy/)
- [converting lead to gold](https://www.monetary-metals.com/tag/converting-lead-to-gold/)
- [gold mine finance](https://www.monetary-metals.com/tag/gold-mine-finance/)
- [coronavirus](https://www.monetary-metals.com/tag/coronavirus/)
- [covid-19](https://www.monetary-metals.com/tag/covid-19/)
- [gold carry](https://www.monetary-metals.com/tag/gold-carry/)
- [crude oil](https://www.monetary-metals.com/tag/crude-oil/)
- [subsidy](https://www.monetary-metals.com/tag/subsidy/)
- [investing in gold](https://www.monetary-metals.com/tag/investing-in-gold/)
- [gold basis](https://www.monetary-metals.com/tag/gold-basis/)
- [Fed balance sheet](https://www.monetary-metals.com/tag/fed-balance-sheet/)
- [conversion of capital to income](https://www.monetary-metals.com/tag/conversion-of-capital-to-income/)
- [instant yield](https://www.monetary-metals.com/tag/instant-yield/)
- [coin premium](https://www.monetary-metals.com/tag/coin-premium/)
- [retail coin shortage](https://www.monetary-metals.com/tag/retail-coin-shortage/)
- [sinking fund](https://www.monetary-metals.com/tag/sinking-fund/)
- [amortization](https://www.monetary-metals.com/tag/amortization/)
- [the Federal Reserve](https://www.monetary-metals.com/tag/the-federal-reserve/)
- [gold confiscation](https://www.monetary-metals.com/tag/gold-confiscation/)
- [Diocletian](https://www.monetary-metals.com/tag/diocletian/)
- [buying gold](https://www.monetary-metals.com/tag/buying-gold/)
- [gold lending](https://www.monetary-metals.com/tag/gold-lending/)
- [earn interest on gold](https://www.monetary-metals.com/tag/earn-interest-on-gold/)
- [creditor](https://www.monetary-metals.com/tag/creditor/)
- [asset](https://www.monetary-metals.com/tag/asset/)
- [liability](https://www.monetary-metals.com/tag/liability/)
- [annuity](https://www.monetary-metals.com/tag/annuity/)
- [insurance](https://www.monetary-metals.com/tag/insurance/)
- [gold to silver ratio](https://www.monetary-metals.com/tag/gold-to-silver-ratio/)
- [Judy Shelton](https://www.monetary-metals.com/tag/judy-shelton/)
- [silver basis](https://www.monetary-metals.com/tag/silver-basis/)
- [physical metal](https://www.monetary-metals.com/tag/physical-metal/)
- [silver investors](https://www.monetary-metals.com/tag/silver-investors/)
- [Mercatus](https://www.monetary-metals.com/tag/mercatus/)
- [euthanasia of the rentier](https://www.monetary-metals.com/tag/euthanasia-of-the-rentier/)
- [gold coin standard](https://www.monetary-metals.com/tag/gold-coin-standard/)
- [gold bullion standard](https://www.monetary-metals.com/tag/gold-bullion-standard/)
- [gold exchange standard](https://www.monetary-metals.com/tag/gold-exchange-standard/)
- [Bretton Woods](https://www.monetary-metals.com/tag/bretton-woods/)
- [Nixon](https://www.monetary-metals.com/tag/nixon/)
- [monetary standard](https://www.monetary-metals.com/tag/monetary-standard/)
- [pyramid scheme](https://www.monetary-metals.com/tag/pyramid-scheme/)
- [ECB](https://www.monetary-metals.com/tag/ecb/)
- [gold leases](https://www.monetary-metals.com/tag/gold-leases/)
- [circulation](https://www.monetary-metals.com/tag/circulation/)
- [currencies](https://www.monetary-metals.com/tag/currencies/)
- [theory](https://www.monetary-metals.com/tag/theory/)
- [gold vs bitcoin](https://www.monetary-metals.com/tag/gold-vs-bitcoin/)
- [crypto](https://www.monetary-metals.com/tag/crypto/)
- [debate](https://www.monetary-metals.com/tag/debate/)
- [mises](https://www.monetary-metals.com/tag/mises/)
- [sound money](https://www.monetary-metals.com/tag/sound-money/)
- [jp cortez](https://www.monetary-metals.com/tag/jp-cortez/)
- [market](https://www.monetary-metals.com/tag/market/)
- [scarcity](https://www.monetary-metals.com/tag/scarcity/)
- [lease rates](https://www.monetary-metals.com/tag/lease-rates/)
- [history](https://www.monetary-metals.com/tag/history/)
- [rome](https://www.monetary-metals.com/tag/rome/)
- [rate](https://www.monetary-metals.com/tag/rate/)
- [LBMA](https://www.monetary-metals.com/tag/lbma/)
- [russia](https://www.monetary-metals.com/tag/russia/)
- [ruble](https://www.monetary-metals.com/tag/ruble/)
- [investment](https://www.monetary-metals.com/tag/investment/)
- [addicted](https://www.monetary-metals.com/tag/addicted/)
- [new orleans](https://www.monetary-metals.com/tag/new-orleans/)
- [blanchard](https://www.monetary-metals.com/tag/blanchard/)
- [hikes](https://www.monetary-metals.com/tag/hikes/)
- [prices](https://www.monetary-metals.com/tag/prices/)
- [1970](https://www.monetary-metals.com/tag/1970/)
- [inventory](https://www.monetary-metals.com/tag/inventory/)
- [rates](https://www.monetary-metals.com/tag/rates/)
- [dollars](https://www.monetary-metals.com/tag/dollars/)
- [zombie corporation](https://www.monetary-metals.com/tag/zombie-corporation/)
- [zombie month](https://www.monetary-metals.com/tag/zombie-month/)
- [powell](https://www.monetary-metals.com/tag/powell/)
- [falling rate](https://www.monetary-metals.com/tag/falling-rate/)
- [credit gradient](https://www.monetary-metals.com/tag/credit-gradient/)
- [zombie firm](https://www.monetary-metals.com/tag/zombie-firm/)
- [jerome powell](https://www.monetary-metals.com/tag/jerome-powell/)
- [dollar milkshake](https://www.monetary-metals.com/tag/dollar-milkshake/)
- [interest rate hikes](https://www.monetary-metals.com/tag/interest-rate-hikes/)
- [volker](https://www.monetary-metals.com/tag/volker/)
- [dominic frisby](https://www.monetary-metals.com/tag/dominic-frisby/)
- [taxes](https://www.monetary-metals.com/tag/taxes/)
- [uk](https://www.monetary-metals.com/tag/uk/)
- [liz truss](https://www.monetary-metals.com/tag/liz-truss/)
- [gilt](https://www.monetary-metals.com/tag/gilt/)
- [energy](https://www.monetary-metals.com/tag/energy/)
- [wrecking ball](https://www.monetary-metals.com/tag/wrecking-ball/)
- [rate hike](https://www.monetary-metals.com/tag/rate-hike/)
- [pension funds](https://www.monetary-metals.com/tag/pension-funds/)
- [QE](https://www.monetary-metals.com/tag/qe/)
- [rate hikes](https://www.monetary-metals.com/tag/rate-hikes/)
- [risk return](https://www.monetary-metals.com/tag/risk-return/)
- [leverage](https://www.monetary-metals.com/tag/leverage/)
- [hammer](https://www.monetary-metals.com/tag/hammer/)
- [gold yield](https://www.monetary-metals.com/tag/gold-yield/)
- [uranium](https://www.monetary-metals.com/tag/uranium/)
- [copper](https://www.monetary-metals.com/tag/copper/)
- [problem](https://www.monetary-metals.com/tag/problem/)
- [social](https://www.monetary-metals.com/tag/social/)
- [invention](https://www.monetary-metals.com/tag/invention/)
- [future](https://www.monetary-metals.com/tag/future/)
- [zombie firms](https://www.monetary-metals.com/tag/zombie-firms/)
- [austrian](https://www.monetary-metals.com/tag/austrian/)
- [boom bust](https://www.monetary-metals.com/tag/boom-bust/)
- [yield curve](https://www.monetary-metals.com/tag/yield-curve/)
- [backed](https://www.monetary-metals.com/tag/backed/)
- [gold 2.0](https://www.monetary-metals.com/tag/gold-2-0/)
- [upgrade](https://www.monetary-metals.com/tag/upgrade/)
- [fixed income](https://www.monetary-metals.com/tag/fixed-income/)
- [faq](https://www.monetary-metals.com/tag/faq/)
- [warren buffett](https://www.monetary-metals.com/tag/warren-buffett/)
- [michael saylor](https://www.monetary-metals.com/tag/michael-saylor/)
- [gold outlook](https://www.monetary-metals.com/tag/gold-outlook/)
- [2022](https://www.monetary-metals.com/tag/2022/)
- [per bylund](https://www.monetary-metals.com/tag/per-bylund/)
- [business](https://www.monetary-metals.com/tag/business/)
- [unseen](https://www.monetary-metals.com/tag/unseen/)
- [outlook](https://www.monetary-metals.com/tag/outlook/)
- [gold outlook 2022](https://www.monetary-metals.com/tag/gold-outlook-2022/)
- [press](https://www.monetary-metals.com/tag/press/)
- [press release](https://www.monetary-metals.com/tag/press-release/)
- [lobo tiggre](https://www.monetary-metals.com/tag/lobo-tiggre/)
- [akobo](https://www.monetary-metals.com/tag/akobo/)
- [investing](https://www.monetary-metals.com/tag/investing/)
- [funded](https://www.monetary-metals.com/tag/funded/)
- [ftx](https://www.monetary-metals.com/tag/ftx/)
- [sam bankman-fried](https://www.monetary-metals.com/tag/sam-bankman-fried/)
- [short](https://www.monetary-metals.com/tag/short/)
- [long](https://www.monetary-metals.com/tag/long/)
- [duration](https://www.monetary-metals.com/tag/duration/)
- [mismatch](https://www.monetary-metals.com/tag/mismatch/)
- [ethereum](https://www.monetary-metals.com/tag/ethereum/)
- [cryptocurrency](https://www.monetary-metals.com/tag/cryptocurrency/)
- [exchange](https://www.monetary-metals.com/tag/exchange/)
- [swap](https://www.monetary-metals.com/tag/swap/)
- [peter boockvar](https://www.monetary-metals.com/tag/peter-boockvar/)
- [markets](https://www.monetary-metals.com/tag/markets/)
- [unemployment](https://www.monetary-metals.com/tag/unemployment/)
- [dollar milkshake theory](https://www.monetary-metals.com/tag/dollar-milkshake-theory/)
- [brent johnson](https://www.monetary-metals.com/tag/brent-johnson/)
- [pivot](https://www.monetary-metals.com/tag/pivot/)
- [australia](https://www.monetary-metals.com/tag/australia/)
- [19%](https://www.monetary-metals.com/tag/19/)
- [13%](https://www.monetary-metals.com/tag/13/)
- [shine resources](https://www.monetary-metals.com/tag/shine-resources/)
- [akobo minerals](https://www.monetary-metals.com/tag/akobo-minerals/)
- [larry lepard](https://www.monetary-metals.com/tag/larry-lepard/)
- [monetary metals](https://www.monetary-metals.com/tag/monetary-metals/)
- [foreign](https://www.monetary-metals.com/tag/foreign/)
- [cental banks](https://www.monetary-metals.com/tag/cental-banks/)
- [dxy](https://www.monetary-metals.com/tag/dxy/)
- [Bryan caplan](https://www.monetary-metals.com/tag/bryan-caplan/)
- [heat death](https://www.monetary-metals.com/tag/heat-death/)
- [mopd](https://www.monetary-metals.com/tag/mopd/)
- [marginal productivity](https://www.monetary-metals.com/tag/marginal-productivity/)
- [carrying](https://www.monetary-metals.com/tag/carrying/)
- [carry trade](https://www.monetary-metals.com/tag/carry-trade/)
- [uk pension funds](https://www.monetary-metals.com/tag/uk-pension-funds/)
- [labor](https://www.monetary-metals.com/tag/labor/)
- [jim forsythe](https://www.monetary-metals.com/tag/jim-forsythe/)
- [citizens for sound money](https://www.monetary-metals.com/tag/citizens-for-sound-money/)
- [new hampshire](https://www.monetary-metals.com/tag/new-hampshire/)
- [larry hilton](https://www.monetary-metals.com/tag/larry-hilton/)
- [legal tender](https://www.monetary-metals.com/tag/legal-tender/)
- [alternative currencies](https://www.monetary-metals.com/tag/alternative-currencies/)
- [risk](https://www.monetary-metals.com/tag/risk/)
- [india](https://www.monetary-metals.com/tag/india/)
- [state bank of india](https://www.monetary-metals.com/tag/state-bank-of-india/)
- [passive income](https://www.monetary-metals.com/tag/passive-income/)
- [first](https://www.monetary-metals.com/tag/first/)
- [failing](https://www.monetary-metals.com/tag/failing/)
- [decline](https://www.monetary-metals.com/tag/decline/)
- [mmt](https://www.monetary-metals.com/tag/mmt/)
- [fiat](https://www.monetary-metals.com/tag/fiat/)
- [galileo](https://www.monetary-metals.com/tag/galileo/)
- [moon](https://www.monetary-metals.com/tag/moon/)
- [bullion banks](https://www.monetary-metals.com/tag/bullion-banks/)
- [death blow](https://www.monetary-metals.com/tag/death-blow/)
- [bitocin](https://www.monetary-metals.com/tag/bitocin/)
- [analysis](https://www.monetary-metals.com/tag/analysis/)
- [murphy's law](https://www.monetary-metals.com/tag/murphys-law/)
- [fundamental](https://www.monetary-metals.com/tag/fundamental/)
- [technical](https://www.monetary-metals.com/tag/technical/)
- [miners](https://www.monetary-metals.com/tag/miners/)
- [buy low](https://www.monetary-metals.com/tag/buy-low/)
- [sell high](https://www.monetary-metals.com/tag/sell-high/)
- [hedge](https://www.monetary-metals.com/tag/hedge/)
- [reflections](https://www.monetary-metals.com/tag/reflections/)
- [leases](https://www.monetary-metals.com/tag/leases/)
- [travel](https://www.monetary-metals.com/tag/travel/)
- [2021](https://www.monetary-metals.com/tag/2021/)
- [2020](https://www.monetary-metals.com/tag/2020/)
- [expansion](https://www.monetary-metals.com/tag/expansion/)
- [net](https://www.monetary-metals.com/tag/net/)
- [sovereign](https://www.monetary-metals.com/tag/sovereign/)
- [Jeff snider](https://www.monetary-metals.com/tag/jeff-snider/)
- [eurdollar](https://www.monetary-metals.com/tag/eurdollar/)
- [blackhole](https://www.monetary-metals.com/tag/blackhole/)
- [japan](https://www.monetary-metals.com/tag/japan/)
- [net along](https://www.monetary-metals.com/tag/net-along/)
- [report](https://www.monetary-metals.com/tag/report/)
- [supply](https://www.monetary-metals.com/tag/supply/)
- [demand](https://www.monetary-metals.com/tag/demand/)
- [temporary backwardation](https://www.monetary-metals.com/tag/temporary-backwardation/)
- [destroy capital](https://www.monetary-metals.com/tag/destroy-capital/)
- [stock to flow](https://www.monetary-metals.com/tag/stock-to-flow/)
- [price](https://www.monetary-metals.com/tag/price/)
- [barron's](https://www.monetary-metals.com/tag/barrons/)
- [quoted](https://www.monetary-metals.com/tag/quoted/)
- [financial](https://www.monetary-metals.com/tag/financial/)
- [news](https://www.monetary-metals.com/tag/news/)
- [gold and silver](https://www.monetary-metals.com/tag/gold-and-silver/)
- [industrial](https://www.monetary-metals.com/tag/industrial/)
- [recession](https://www.monetary-metals.com/tag/recession/)
- [gold outlook 2023](https://www.monetary-metals.com/tag/gold-outlook-2023/)
- [gold silver](https://www.monetary-metals.com/tag/gold-silver/)
- [fed rate hikes](https://www.monetary-metals.com/tag/fed-rate-hikes/)
- [price calls](https://www.monetary-metals.com/tag/price-calls/)
- [2023](https://www.monetary-metals.com/tag/2023/)
- [destruction](https://www.monetary-metals.com/tag/destruction/)
- [say's law](https://www.monetary-metals.com/tag/says-law/)
- [demand destruction](https://www.monetary-metals.com/tag/demand-destruction/)
- [gold and silver ratio](https://www.monetary-metals.com/tag/gold-and-silver-ratio/)
- [webinar](https://www.monetary-metals.com/tag/webinar/)
- [bank fail](https://www.monetary-metals.com/tag/bank-fail/)
- [long term](https://www.monetary-metals.com/tag/long-term/)
- [projects](https://www.monetary-metals.com/tag/projects/)
- [dikkar](https://www.monetary-metals.com/tag/dikkar/)
- [banks](https://www.monetary-metals.com/tag/banks/)
- [fail](https://www.monetary-metals.com/tag/fail/)
- [insolvent](https://www.monetary-metals.com/tag/insolvent/)
- [bank](https://www.monetary-metals.com/tag/bank/)
- [SVB](https://www.monetary-metals.com/tag/svb/)
- [bid](https://www.monetary-metals.com/tag/bid/)
- [ask](https://www.monetary-metals.com/tag/ask/)
- [glint](https://www.monetary-metals.com/tag/glint/)
- [jason cozens](https://www.monetary-metals.com/tag/jason-cozens/)
- [cbdc](https://www.monetary-metals.com/tag/cbdc/)
- [digital](https://www.monetary-metals.com/tag/digital/)
- [deposit](https://www.monetary-metals.com/tag/deposit/)
- [ETF](https://www.monetary-metals.com/tag/etf/)
- [fees](https://www.monetary-metals.com/tag/fees/)
- [paper](https://www.monetary-metals.com/tag/paper/)
- [danielle di martino booth](https://www.monetary-metals.com/tag/danielle-di-martino-booth/)
- [jeff deist](https://www.monetary-metals.com/tag/jeff-deist/)
- [hire](https://www.monetary-metals.com/tag/hire/)
- [frb](https://www.monetary-metals.com/tag/frb/)
- [jeff snyder](https://www.monetary-metals.com/tag/jeff-snyder/)
- [How not to think about gold](https://www.monetary-metals.com/tag/how-not-to-think-about-gold/)
- [not](https://www.monetary-metals.com/tag/not/)
- [wrong way](https://www.monetary-metals.com/tag/wrong-way/)
- [investor](https://www.monetary-metals.com/tag/investor/)
- [field guide](https://www.monetary-metals.com/tag/field-guide/)
- [white paper](https://www.monetary-metals.com/tag/white-paper/)
- [AI](https://www.monetary-metals.com/tag/ai/)
- [Wall Street Journal](https://www.monetary-metals.com/tag/wall-street-journal/)
- [Spencer Jakab](https://www.monetary-metals.com/tag/spencer-jakab/)
- [vegan](https://www.monetary-metals.com/tag/vegan/)
- [meme](https://www.monetary-metals.com/tag/meme/)
- [meme stonks](https://www.monetary-metals.com/tag/meme-stonks/)
- [gamestop](https://www.monetary-metals.com/tag/gamestop/)
- [shorting](https://www.monetary-metals.com/tag/shorting/)
- [laffer](https://www.monetary-metals.com/tag/laffer/)
- [laffer curve](https://www.monetary-metals.com/tag/laffer-curve/)
- [maxima](https://www.monetary-metals.com/tag/maxima/)
- [selling](https://www.monetary-metals.com/tag/selling/)
- [short selling](https://www.monetary-metals.com/tag/short-selling/)
- [The Standard & Poor Downgrade of Uncle Sam](https://www.monetary-metals.com/tag/the-standard-poor-downgrade-of-uncle-sam/)
- [sam](https://www.monetary-metals.com/tag/sam/)
- [us](https://www.monetary-metals.com/tag/us/)
- [death](https://www.monetary-metals.com/tag/death/)
- [obama](https://www.monetary-metals.com/tag/obama/)
- [welfare](https://www.monetary-metals.com/tag/welfare/)
- [antal fekete](https://www.monetary-metals.com/tag/antal-fekete/)
- [trust](https://www.monetary-metals.com/tag/trust/)
- [Doomberg](https://www.monetary-metals.com/tag/doomberg/)
- [nuclear](https://www.monetary-metals.com/tag/nuclear/)
- [natural gas](https://www.monetary-metals.com/tag/natural-gas/)
- [winter](https://www.monetary-metals.com/tag/winter/)
- [Asahi](https://www.monetary-metals.com/tag/asahi/)
- [refining](https://www.monetary-metals.com/tag/refining/)
- [agreement](https://www.monetary-metals.com/tag/agreement/)
- [argentina](https://www.monetary-metals.com/tag/argentina/)
- [de-dollarization](https://www.monetary-metals.com/tag/de-dollarization/)
- [safe](https://www.monetary-metals.com/tag/safe/)
- [safe deposit](https://www.monetary-metals.com/tag/safe-deposit/)
- [safe deposit box](https://www.monetary-metals.com/tag/safe-deposit-box/)
- [store](https://www.monetary-metals.com/tag/store/)
- [irs](https://www.monetary-metals.com/tag/irs/)
- [macro](https://www.monetary-metals.com/tag/macro/)
- [equation](https://www.monetary-metals.com/tag/equation/)
- [return](https://www.monetary-metals.com/tag/return/)
- [roi](https://www.monetary-metals.com/tag/roi/)
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- [client portal](https://www.monetary-metals.com/tag/client-portal/)
- [balances](https://www.monetary-metals.com/tag/balances/)
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- [monetary economics](https://www.monetary-metals.com/tag/monetary-economics/)
- [fed coin](https://www.monetary-metals.com/tag/fed-coin/)
- [central bank digital currency](https://www.monetary-metals.com/tag/central-bank-digital-currency/)
- [entitlements](https://www.monetary-metals.com/tag/entitlements/)
- [ceiling](https://www.monetary-metals.com/tag/ceiling/)
- [monetarist](https://www.monetary-metals.com/tag/monetarist/)
- [QTM](https://www.monetary-metals.com/tag/qtm/)
- [indictment](https://www.monetary-metals.com/tag/indictment/)
- [award](https://www.monetary-metals.com/tag/award/)
- [win](https://www.monetary-metals.com/tag/win/)
- [winner](https://www.monetary-metals.com/tag/winner/)
- [bullion](https://www.monetary-metals.com/tag/bullion/)
- [research](https://www.monetary-metals.com/tag/research/)
- [linear](https://www.monetary-metals.com/tag/linear/)
- [stateful](https://www.monetary-metals.com/tag/stateful/)
- [interest and prices](https://www.monetary-metals.com/tag/interest-and-prices/)
- [hugh hendry](https://www.monetary-metals.com/tag/hugh-hendry/)
- [hednry](https://www.monetary-metals.com/tag/hednry/)
- [hugh](https://www.monetary-metals.com/tag/hugh/)
- [brics](https://www.monetary-metals.com/tag/brics/)
- [acid](https://www.monetary-metals.com/tag/acid/)
- [capitalist](https://www.monetary-metals.com/tag/capitalist/)
- [capital account](https://www.monetary-metals.com/tag/capital-account/)
- [New Zealand](https://www.monetary-metals.com/tag/new-zealand/)
- [Auckland](https://www.monetary-metals.com/tag/auckland/)
- [Sydney](https://www.monetary-metals.com/tag/sydney/)
- [st onge](https://www.monetary-metals.com/tag/st-onge/)
- [antoni](https://www.monetary-metals.com/tag/antoni/)
- [capital controls](https://www.monetary-metals.com/tag/capital-controls/)
- [controls](https://www.monetary-metals.com/tag/controls/)
- [anti](https://www.monetary-metals.com/tag/anti/)
- [concept](https://www.monetary-metals.com/tag/concept/)
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- [growth](https://www.monetary-metals.com/tag/growth/)
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- [ronnie Stöferle](https://www.monetary-metals.com/tag/ronnie-stoferle/)
- [alan greenspan](https://www.monetary-metals.com/tag/alan-greenspan/)
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- [correlation](https://www.monetary-metals.com/tag/correlation/)
- [CPM group](https://www.monetary-metals.com/tag/cpm-group/)
- [election](https://www.monetary-metals.com/tag/election/)
- [Jeffrey Christian](https://www.monetary-metals.com/tag/jeffrey-christian/)
- [elections](https://www.monetary-metals.com/tag/elections/)
- [gold prices](https://www.monetary-metals.com/tag/gold-prices/)
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- [bob murphy](https://www.monetary-metals.com/tag/bob-murphy/)
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- [economic](https://www.monetary-metals.com/tag/economic/)
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- [ach](https://www.monetary-metals.com/tag/ach/)
- [payment](https://www.monetary-metals.com/tag/payment/)
- [good as gold](https://www.monetary-metals.com/tag/good-as-gold/)
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- [BTC](https://www.monetary-metals.com/tag/btc/)
- [strategy](https://www.monetary-metals.com/tag/strategy/)
- [sound money portfolio](https://www.monetary-metals.com/tag/sound-money-portfolio/)
- [rich gold](https://www.monetary-metals.com/tag/rich-gold/)
- [poor gold](https://www.monetary-metals.com/tag/poor-gold/)
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- [fee](https://www.monetary-metals.com/tag/fee/)
- [cash](https://www.monetary-metals.com/tag/cash/)
- [cashflow](https://www.monetary-metals.com/tag/cashflow/)

## Article Categories

- [Gold economics](https://www.monetary-metals.com/article-category/economics/) - Overview of gold market.
- [Precious metals 101](https://www.monetary-metals.com/article-category/precious-metals-101/)
- [Market insights](https://www.monetary-metals.com/article-category/market-insights/)
- [Monetary Metals products](https://www.monetary-metals.com/article-category/monetary-metals-products/)
- [Company news](https://www.monetary-metals.com/article-category/company-news/)

## Newsroom Categories

- [Press release](https://www.monetary-metals.com/newsroom-category/press-release/)

## Research Series

- [Theory of interest and prices in paper currency](https://www.monetary-metals.com/research-category/theory-of-interest-and-prices-in-paper-currency/) - The behavior of the dollar system is nonlinear and counterintuitive. This research series explains how interest and prices are set under our monetary system.
- [Yield purchasing power](https://www.monetary-metals.com/research-category/yield-purchasing-power/) - This research series argues for a new way of looking at monetary debasement proposed by economist Keith Weiner called Yield Purchasing Power.
- [Unadulterated gold standard](https://www.monetary-metals.com/research-category/unadulterated-gold-standard/) - In this five part series, we discuss why the world needs an Unadulterated Gold Standard:
- [Marginal productivity of debt](https://www.monetary-metals.com/research-category/marginal-productivity-of-debt/) - Understanding the marginal productivity of debt is key to understanding whether the amount of credit created is unsustainable, resulting in the failure of the monetary system and loss of everyone’s savings.
- [Zombie firms](https://www.monetary-metals.com/research-category/zombie-firms/) - A zombie firm or zombie corporation has a profit less than the interest expense on its debt. It is only possible with artificially low interest rates and a very permissible credit market. Both conditions are consequences of central bank policy. Read more about it here.
- [Bitcoin: Postmodern money](https://www.monetary-metals.com/research-category/bitcoin-postmodern-money/) - In the articles below, Keith Weiner covers many of the reasons why bitcoin is unsound and not money and rather the very model of a (post)modern monetary marvel.
- [Basel III and gold resource center](https://www.monetary-metals.com/research-category/basel-iii-and-gold-resource-center/) - Commentators predicted the rules of Basel III bank regulations will cause gold to skyrocket in price. This research series provides our analysis of these claims
- [The anti-concepts of money](https://www.monetary-metals.com/research-category/anti-concepts-of-money/) - An anti-concept is an idea or term designed to obscure or distort thinking rather than clarify it. When applied to money, these misleading ideas shape policies and perceptions in ways that can undermine our economic understandings.

## Podcast Category

- [Market insights](https://www.monetary-metals.com/podcast-category/market-insights/)

## Podcast Guest

- [Patrick Karim](https://www.monetary-metals.com/podcast-guest/patrick-karim/)
- [Kevin Wadsworth](https://www.monetary-metals.com/podcast-guest/kevin-wadsworth/)
- [Mark Valek](https://www.monetary-metals.com/podcast-guest/mark-valek/)
- [Peter St Onge](https://www.monetary-metals.com/podcast-guest/peter-st-onge/)
- [Alasdair Macleod](https://www.monetary-metals.com/podcast-guest/alasdair-macleod/)
- [Charlie Morris](https://www.monetary-metals.com/podcast-guest/charlie-morris/)
- [Bob Murphy](https://www.monetary-metals.com/podcast-guest/bob-murphy/)
- [Alexander McCobin](https://www.monetary-metals.com/podcast-guest/alexander-mccobin/)
- [Brian Albrecht](https://www.monetary-metals.com/podcast-guest/brian-albrecht/)
- [Keith Weiner](https://www.monetary-metals.com/podcast-guest/keith-weiner/)
- [George Gammon](https://www.monetary-metals.com/podcast-guest/george-gammon/)
- [Adrian Day](https://www.monetary-metals.com/podcast-guest/adrian-day/)
- [Brent Jonhson](https://www.monetary-metals.com/podcast-guest/brent-jonhson/)
- [Tony Greer](https://www.monetary-metals.com/podcast-guest/tony-greer/)
- [Jeff Deist](https://www.monetary-metals.com/podcast-guest/jeff-deist/)
- [judy shelton](https://www.monetary-metals.com/podcast-guest/judy-shelton/)
- [Axel Merk](https://www.monetary-metals.com/podcast-guest/axel-merk/)
- [Gene Epstein](https://www.monetary-metals.com/podcast-guest/gene-epstein/)
- [Tavi Costa](https://www.monetary-metals.com/podcast-guest/tavi-costa/)
- [Henry Yoshida](https://www.monetary-metals.com/podcast-guest/henry-yoshida/)
- [John Rubino](https://www.monetary-metals.com/podcast-guest/john-rubino/)
- [Jeffrey Christian](https://www.monetary-metals.com/podcast-guest/jeffrey-christian/)
- [Samuel Smith](https://www.monetary-metals.com/podcast-guest/samuel-smith/)
- [David Lin](https://www.monetary-metals.com/podcast-guest/david-lin/)
- [Chris Whalen](https://www.monetary-metals.com/podcast-guest/chris-whalen/)
- [Peter Spina](https://www.monetary-metals.com/podcast-guest/peter-spina/)
- [Gökhan Yılmaz](https://www.monetary-metals.com/podcast-guest/gokhan-yilmaz/)
- [David Morgan](https://www.monetary-metals.com/podcast-guest/david-morgan/)
- [Dana Samuelson](https://www.monetary-metals.com/podcast-guest/dana-samuelson/)
- [Dr. Arthur Laffer](https://www.monetary-metals.com/podcast-guest/dr-arthur-laffer/)
- [Mike Green](https://www.monetary-metals.com/podcast-guest/mike-green/)
- [Greyson Geiler](https://www.monetary-metals.com/podcast-guest/greyson-geiler/)
- [Hiren Chandaria](https://www.monetary-metals.com/podcast-guest/hiren-chandaria/)
- [Dr. Campbell Harvey](https://www.monetary-metals.com/podcast-guest/dr-campbell-harvey/)
- [Jeffrey Rhodes](https://www.monetary-metals.com/podcast-guest/jeffrey-rhodes/)
- [Ken Ivory](https://www.monetary-metals.com/podcast-guest/ken-ivory/)
- [Bob Elliott](https://www.monetary-metals.com/podcast-guest/bob-elliott/)

## Funded Deal Type

- [Current deals](https://www.monetary-metals.com/funded-type/current-deals/)
- [Past deals](https://www.monetary-metals.com/funded-type/past-deals/)

## Business Type

- [Jeweler](https://www.monetary-metals.com/business-type/jeweler/)
- [Multi-line](https://www.monetary-metals.com/business-type/multi-line/)
- [Refinery](https://www.monetary-metals.com/business-type/refinery/)
- [Bullion Dealer](https://www.monetary-metals.com/business-type/bullion-dealer/)
- [Manufacturer](https://www.monetary-metals.com/business-type/manufacturer/)
- [Mining](https://www.monetary-metals.com/business-type/mining/)
- [Importer](https://www.monetary-metals.com/business-type/importer/)

## Metal Type

- [Gold](https://www.monetary-metals.com/metal-type/gold/)
- [Silver](https://www.monetary-metals.com/metal-type/silver/)