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Contrarian Investor
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The Federal Reserve ended its QE3 large-scale asset purchase program already in 2014, which consisted of monthly purchases of billions of US Treasuries and mortgage-backed securities (MBS). But the …
Continue Reading about This Is How the Fed Will Reduce Its Balance Sheet →
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Despite disappointing US economic growth in the first quarter of 2017, the Federal Reserve has, generally speaking, been quite positive about the economic recovery and that opinion is as a general …
Continue Reading about The Hidden Secret of the US Banking System →
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The large traditional oil-producing countries — both OPEC and non-OPEC — are still catching up with the new reality. After deciding to extend the production cuts — agreed upon half a year ago — for …
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On various occasions I have written on how the gold price is determined. Some people, however, still insist that there exists a disconnect between “paper gold” and “physical gold.” This myth is a …
Continue Reading about What Sets the Gold Price? Critical Thoughts on Paper and Physical Gold →
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President Donald Trump is not wasting any time: the trade deficit is public enemy number one. Not only did Trump show that he means business by declaring war on the Mexicans, as he threatened to …
Continue Reading about This Is How Trump’s Protectionism Will Push the U.S. Economy of the Cliff →
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After manipulating the silver price for years, it recently came to light that Deutsche Bank also manipulated the gold price. At least, this is what happened if we were to believe a majority of gold …
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In many situations, we human beings make estimates by beginning at a start value. Psychologists call this phenomenon anchoring, or the reference-point-effect. I personally prefer the “new normal” …
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What is the definition of insanity? Doing the same thing over and over and expecting a different result. That according to this definition the president of the European Central Bank (ECB), Mario …
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Of course, you will read about everywhere how low interest rates hurt savers and pensioners. But this obvious and visible consequence is not the real bottleneck. Interest rates are the most important …
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We are nearing a point of no return. The Japanese central bank, for instance, already owns over a third of all outstanding public debt. And Japan is no exception. In Europe, a similar tendency exists. …
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The year is 2020. The self-driving car has not delivered on its promise yet. Neither in Japan. It is June 16 in Tokyo, the day of the annual shareholder meeting of Toyota. Akio Toyoda still holds the …
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While ECB-chairman Mario Draghi firmly continues buying up bonds (but for now decided to keep rates where they are and not increase the pool of eligible assets by relaxing the boundaries of its …
Continue Reading about This Is How Independent Central Banks Are →
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Recently, I was interviewed by Lex Hoogduin, professor in monetary economics at the University of Groningen and former director of the Dutch central bank (DNB), about the publication of the first …
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In writing this article, my goal isn’t to proclaim a political or ideological opinion about the European refugee crisis. Rather, I want to know what the future has in store for us. Today, I want to …
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There is a lot of nonsense being written about the gold market. One myth is persistent: the Comex — London’s 'paper gold market' — is thought to be on the brink of collapse. For example, Zero Hedge, …
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In order to understand where gold prices are heading, we first have to learn about price formation. Also, let’s debunk some myths surrounding the Chinese demand for gold, and how it affects your gold …
Continue Reading about Why the Yuan Will Never Be Backed by Gold →