Publications

The Danish bank, Saxo Bank, has become famous for publishing every year a series of ten "outrageous predictions" that are supposed to profoundly change our societies in the coming year. The exercise is difficult and these predictions rarely come true. But they have the merit of pointing out problems...

Insiders are selling and the number of new margin accounts is skyrocketing, at a time when the markets have never been so expensive and fragile. Fear is well and truly present here...but so too is confidence. And it is this confidence that is dominating the sentiment of the markets. The central bank...

Since every currency system in history has collapsed, it is quite a certain bet that this one will too. For the few who have savings, wealth preservation in physical gold and silver is essential as insurance against yet another failed currency and financial system.

Egon von Greyerz and Ronni Stoeferle conclude their two-part Zurich discussion by addressing gold’s role in the context of current rate, currency and bond market forces.

The next stage of the inflationary cycle that we are currently traversing will involve efforts to control the prices by the authorities, which will logically trigger even more pronounced shortages in a production chain that is already greatly weakened by the sanitary crisis and by the rise in transp...

Kevin Smith & Tavi Costa make the very compelling case that gold, silver and the precious metals mining companies are poised for tremendous upside ahead, as part of the Great Rotation they see coming.

Singapore increased its gold reserves by about 20% earlier this year in a largely under-the-radar move that saw holdings expand for the first time in decades.

Egon and Ronnie discuss their individual journeys toward recognizing the timeless, paramount, yet oft ignored, role that gold plays in intelligent wealth preservation and risk hedging in a market landscape that is becoming increasingly centralized. As Ronnie observes, real capitalism requires failur...

Our economic and political elites want the world to equip itself with "clean energy". This will involve a lot of upstream and downstream photovoltaics, changing a very large number of equipments and products that will have to adapt to new technologies. As a result, the industrial demand for silver w...

Averaging stock market capitalization to GDP ratios from seventeen developed economies over the past 150 years reveals the world has never witnessed an equity bubble of the current magnitude.

The ECB is making a mockery of the world: it is shirking its responsibilities (printing money, zero interest rate), it is being lax with the banking system (insufficient capital), it refuses to recognize the damage it is causing (bubbles in equities, bonds and real estate), it refrains from lecturin...

In Part II of Egon von Greyerz’ two-part conversation with Cambridge House’s Jay Martin, Egon candidly digs deeper into the realism rather than sensationalism of the current macro headwinds and the inevitable implosion of the global financial/monetary system.

These interventions on the futures markets now only have very transitory effects, and at the same time, they are reinforcing the tensions on the physical side. Each enforced correction on the paper market prompts a veritable run on the physical metal. This holds true for the entire metals compartmen...

Serbia has increased its gold reserves to 37 tonnes and moved them to the treasury of the central bank from Switzerland's Bern, governor Jorgovanka Tabakovic said.

A month ago, coal and industrial metals were at their all-time highs. If inflation stays at this rate for 5 years, nothing of the purchasing power of money remains.

Obviously, (ex-post) real rates are very important to the gold price. In the 1970s gold skyrocketed when real rates for two times in a row hit -5%. Can it happen again if inflation proves not be transitory and real rates stay negative?