Articles

Gold has largely been able to cushion stock price losses during recessions. For bonds, the classic equity diversifier, on the other hand, things look less good. High levels of debt, the zombification...

Ronnie Stoeferle / November 12, 2022

From polo to hockey—it’s a known fact that the best players think three moves ahead. Sadly, the same can’t be said of our financial elites… But as playing conditions deteriorate across the bond, sto...

Matthew Piepenburg / November 9, 2022

The yield on the 10Y UST is known by most investors to represent the real cost of capital/borrowing. In short, it is the most important yield in the world, as it prices the cost of the world’s reserv...

Matthew Piepenburg / November 4, 2022

Die dunklen Jahre rücken näher und die Welt geht in den Überlebensmodus über. Zugegeben, wer heute in ein gehobenes Restaurant in New York, London oder Zürich geht, wird dort keinen Hinweis auf Elend...

Egon von Greyerz / October 6, 2022

Despite all the fake, real, twisted, straight or bent words, facts and policies emerging today, the West in general and the US in particular cannot escape the natural laws of debt nor the hard realiti...

Matthew Piepenburg / September 21, 2022

Powell’s so-called “war against inflation” will fail, but not before crushing everything from risk asset, precious metal and currency pricing to the USD. As importantly, Powell is accelerating global...

Matthew Piepenburg / September 6, 2022

Despite Western attempts to flex its currency muscle via USD-driven sanctions, nations like Russia and China are now leading the charge from a one-currency world to a multi-currency world of import pa...

Matthew Piepenburg / August 23, 2022

Is DC creating an intentional class of American lords and serfs, in which the former hand out stimulus checks to prevent the later from reaching for pitch forks? As we learned in the Europe of the 19...

Matthew Piepenburg / August 10, 2022

Given the evidence, the US is heading straight into a recession and will be forced to confront that reality (however downplayed or officially postponed) by cranking out the mouse-click money in a way...

Matthew Piepenburg / August 3, 2022

Current market forces collectively, historically, empirically and common-sensically point toward new highs for gold, whose bull market, which began to stretch its legs after the 2016 bottom of $1050,...

Matthew Piepenburg / July 26, 2022