Rates

So Cyprus has been bailed out, for the time being, but we must ask the question : Isn’t the new plan worse than the first one? Given, of course, that both plans are nothing short of theft of private and company savings by incompetent political leaders, it’s like comparing pestilence with malaria.

Risks are increasing everywhere and the situation is becoming more and more confusing. We need to get back to the fundamentals : ideally we need to get out of paper currencies and into gold, get out of the banking system to avoid all confiscation, and get out of the Eurozone toward a country that...

Gold rose above $1,600 for the first time in more than two weeks, as concern that Europe’s debt crisis will escalate increased the appeal of the metal as a haven.

A great amount of money is being created by the central banks (FED, BCE, BoJ) but, for now, we’re not seeing a strong inflation

The european banking system remains entirely dependant on the ECB for its daily operations, and this is not good news

Only one thing can explain the backwardation in gold : loss of confidence. Potential buyers of futures reckon there is a significant risk that the contract might not be fulfilled

Away from the cameras, without invoking a « last chance summit », Ireland just benefited from a restructuration

Venezuelans have just been experimenting one of the risks associated with paper money. Actually, they just lost 46% of their purchasing power in a single day

Many large international banks, like Crédit Agricole, Commerzbank and UBS are announcing important losses for the last quarter of 2012

A currency system must be based on an indisputable money base that doesn’t bear the mark of one country. There is only one standard that meets those criteria and that must be gold.