Publications

Egon von Greyerz and Matthew Piepenburg exchange thoughts on the real vs. surreal financial system. They specifically address the blunt reality of unimaginable debt levels, tanking GDP growth, rising inflation, negative-yielding bonds and declining consumer sentiment against a current environment of...

How the physical gold price is set, and how physical and derivates markets around the world are connected and interact.

The Fed is trapped and can't raise rates. Tavi Costa firmly believes commodities, silver and the silver miners are primed to move higher.

Because of the size of the bubble, the implosion will be greater than any time in history. In such a depression everyone will suffer greatly, even gold holders. But just as in any crisis in history, physical gold will serve as the best insurance you can own.

Governor Adam Glapinski - the head of the country's central bank, the National Bank of Poland - plans to increase gold reserves by 100 tons next year to strengthen country’s financial stability.

After the Kaplan scandal, the Fed is fighting against another case of suspected insider trading this week. This time, the case concerns the trades made by the vice-president of the U.S. central bank, Richard Clarida. Clarida traded millions of dollars out of a bond fund into stock funds one day befo...

Evergrande has what it takes to bring down the real estate house of cards. The equivalent of $300 billion in debt could have a major impact on world finances, and it is not impossible that China will not bail it out.

The ECB is building a Potemkin village of European public debt, to keep up appearances, hoping that inflation will not undermine the whole thing...

But the gold prices are not responding to the law of supply and physical demand. They are dependent on transactions on the futures markets, where the fund managers have more influence over the prices thanks to their paper investments with a high leverage effect...even if they don’t have a single oun...

Gold is currently under attack for not “doing enough,” despite two years of double-digit rises. Gold investors, however, are not greedy, they are patient, and they hold this physical rather than paper asset for the long game. And as for that long game, the inflation ahead, as well destruction of the...

Stock markets are not reflecting the world economy, with liquidity being pumped in. Von Greyerz believes there's a short-term high risk that investors are not confronting, and is staying firm with his position on gold.

Even if one were to print money and give it away for free in order to prop up consumption, it would be impossible to avoid the consequences, which are now clearly visible, of the inflation created by this monetary madness. The difficulties at the level of the production chain brought about by this i...

We are now in a very critical period for the world since excesses of the magnitude we are now seeing must be corrected. Exponential moves in one direction are always corrected. And the corrections will be of a similar magnitude to the rise but happen much quicker. We are talking about falls of 90% o...

Evergrande, China's largest property developer, directly employs 200,000 people and indirectly employs 3.8 million people. Problem: the group is bankrupt and announced on September 14 that it is facing a risk of default. Evergrande is crushed by liabilities of nearly 260 billion euros, while it has...

The pressure on the level of salaries is not going to stop any time soon.The violence of this inflationary shock is going to be felt this fall on the consumer prices. Businesses will have no choice but to pass on the dizzying rise in costs that they are experiencing to the consumer.

Several structural problems in the U.S. could cause a slowdown in economic growth soon, with stagflation hitting and lasting for the next six months, said Tavi Costa, portfolio manager of Crescat Capital.