321gold: Steve Saville archives

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Steve Saville archives

05/21/2019 TSI Stock Selection Update #89
04/30/2019 Gold, Commodities, and Bob Moriarty’s New Book
01/30/2019 Random Predictions For 2019
06/09/2016 Gold and the Keynesian Death Spiral
05/25/2016 Nobody Knows Anything
01/26/2016 How much longer will the gold-mining bear market last?
01/05/2016 Are rising interest rates bullish or bearish for gold?
11/29/2015 Stealing Deflation
11/13/2015 Why hasn’t the Fed’s QE caused “inflation”?
11/04/2015 Why governments can’t just print the money they need
11/02/2015 Gold is not money: the final word
10/29/2015 There is no economic yardstick
10/28/2015 What Is Gold?
10/13/2015 Gold Is Not Money, Part 2
10/07/2015 Gold is not money
08/24/2015 Gold’s safe-haven status is not in doubt
07/02/2015 The “Inflation” Turnaround
06/11/2015 Gold isn’t cheap, but nor should it be
05/21/2015 BitGold: Great product, over-priced stock
04/09/2015 The problematic comparison with the 1970s
02/14/2015 2015 forecasts for gold and gold-mining stocks
01/21/2015 How Money Vanishes
01/14/2015 Gold stocks during an equity bear market
12/16/2014 Is the end of QE bearish for gold?
12/11/2014 Any quantity of money is just fine
11/09/2014 Gold, Inflation Expectations & Economic Confidence
10/20/2014 Why is gold mining such a crappy business?
10/08/2014 Why the US$ is rallying
10/02/2014 Gold vs Silver during Precious-Metals Bull Markets
08/30/2014 The “Escape Velocity” Myth
08/17/2014 Future “inflation” and the Fed’s madness
08/01/2014 Currency devaluation: The most destructive policy of all
07/22/2014 Setting the stage for the next collapse
06/25/2014 US money pumping, past and present
05/01/2014 Gold during booms and busts
04/16/2014 US Monetary Inflation Slowdown
04/01/2014 Gold versus Silver
02/26/2014 Most gold bulls will be right for the wrong reasons
02/19/2014 Economics Myths
02/13/2014 Random thoughts about the year ahead
02/07/2014 Hyperinflation and Capital Controls
01/22/2014 US Monetary Inflation Slowdown
12/21/2013 What a bubble looks like (and why gold's price action wasn't bubble-like)
10/16/2013 Future "inflation" and monetary madness
10/01/2013 Another nail in the coffin of the deflation case
09/24/2013 Gold Fundamentals
09/17/2013 Fed expansion plus commercial bank contraction
09/10/2013 Do Bank Reserves Matter?
09/03/2013 Monetary-Base Confusion
08/27/2013 Gold
08/21/2013 The stock market’s long-term trend
07/31/2013 Interpreting the gold sector’s long-term performance
07/06/2013 The gold mining sector breaks a record
06/26/2013 The true meaning of "International Reserves"
06/18/2013 The Dreaded “Tapering”
06/05/2013 Explaining the gold bull market
05/30/2013 Crash Patterns
05/28/2013 Gold and the Dollar
05/21/2013 Falling Prices Are Natural
04/25/2013 Money Matters
04/10/2013 Deflation or Hyperinflation?
03/19/2013 Money-Pumping Update
03/12/2013 Fantasyland for policy-makers
02/06/2013 The ever-changing yardstick
01/15/2013 The root cause of gold’s bull market
01/01/2013 The idiotic notion that QE is not inflationary
12/11/2012 Money Supply Instability
12/05/2012 Chronically low gold price forecasts
11/20/2012 Increasingly bullish prospects of gold stocks
11/07/2012 Commodities Update
10/31/2012 How to identify a major gold top
10/18/2012 Preparing for the US Presidential Election
09/25/2012 The Fed is the great enabler
09/19/2012 Fed Up
08/30/2012 The irrelevance of currency reserves
08/22/2012 Does "Austrian Economics" predict inflation or deflation?
08/07/2012 Unfortunately, it’s all about the central banks
07/17/2012 The cons and cons of debt monetisation
07/04/2012 Monetary Inflation and Gold
06/27/2012 It’s risky to anticipate QE
06/19/2012 Buffett and everything else versus gold
06/12/2012 Inflation-Adjusted Prices
05/23/2012 Gold Stocks: The Big Picture
05/01/2012 The “Mistake of 1937”
04/25/2012 Is gold still cheap?
04/18/2012 QE: Past, Present and Future
04/03/2012 Gold stocks versus the stock market
03/28/2012 Intermediate-term outlook for gold stocks
03/16/2012 The relationship between gold and interest rates
03/14/2012 A new twist on “Operation Twist”
03/08/2012 Is the Fed a Failure?
02/21/2012 A repeat of 2008, only worse?
02/14/2012 Monetary Inflation versus "Price Inflation"
02/07/2012 Common Misconceptions About Gold
01/31/2012 Secular Trends
01/18/2012 Random thoughts about the year ahead
12/20/2011 Gold Sector: Current Situation and Per-Ounce Valuations
12/14/2011 Gold Stocks: The Wide Angle View
12/06/2011 Is the US$ in danger of losing its reserve currency status?
11/29/2011 A Summary of the Risks
11/22/2011 The two prerequisites for hyperinflation
11/15/2011 Why the sovereign debt crisis began in Europe
11/01/2011 Big Picture Charts
10/18/2011 How the Fed could boost the money supply...
10/11/2011 The next shoes to drop
10/04/2011 The Sceptical Inflationist
09/20/2011 Why debt levels are so high
09/13/2011 The Nikkei Model & Monetary Inflation
08/30/2011 Gold: The Big Picture
08/23/2011 Nobody wants a strong currency
08/09/2011 Does the Fed simply follow the market?
07/26/2011 Real Performance
07/19/2011 Bonds, Inflation Expectations, QE3
06/30/2011 The insidious effects of monetary inflation
06/21/2011 Bank reserves, money supply...
06/14/2011 The “backing” of today’s money, pt 2
06/07/2011 What “backs” today’s money?
05/24/2011 What should the gold/silver ratio be?
05/17/2011 The “smoothing out the bumps” fallacy
05/03/2011 Gold vs silver & other commodities
04/12/2011 When will the gold bull market end?
04/05/2011 Inflation, Bank Lending, & the Employment Spiral
03/30/2011 Long-term bearish on China and the US
03/28/2011 The only effective protection against the gov't
03/22/2011 Japan and the T-Bond
03/08/2011 Inflation-Related Thoughts
03/01/2011 Gold Market Update
02/15/2011 Will silver do better than gold?
02/08/2011 Inflation is a deliberate policy everywhere
02/02/2011 Egypt’s Revolution and Inflation
01/26/2011 Random thoughts about the year ahead
01/18/2011 Gold Update
12/28/2010 Inflation Update
12/15/2010 Inflation & the “Commodity Supercycle”
12/07/2010 China’s Bubble and Commodities
11/23/2010 Inflating the debt away
11/17/2010 The choice of an 'accounting yardstick’
11/10/2010 Running faster… in the wrong direction
11/02/2010 The faith-based metal
10/26/2010 China and the Anti-Realists
10/20/2010 Inflation and Treasury Bonds
10/15/2010 The next US banking crisis?
10/04/2010 Can the Fed help the US economy?
09/29/2010 How Hyperinflation Really Happens
09/21/2010 Devaluing the Dollar
09/14/2010 Gold As "Money"
08/24/2010 Approaching the point of recognition?
08/17/2010 Print, baby, print!
08/10/2010 The depression outlook, revisited
08/03/2010 What is gold really worth?
07/27/2010 The Decade Cycle
07/20/2010 Economists don’t understand money
07/14/2010 Re-visiting the “China Story”
06/29/2010 The Bad-Policy Spiral
06/22/2010 Inflation Update
06/15/2010 The promises must be broken
06/07/2010 Articles point to a higher gold price
05/25/2010 The post-bubble recriminations ramp up
05/18/2010 Gold & Silver Update
05/06/2010 Paying people to break windows
04/27/2010 Beware of analysts bearing equations
04/20/2010 Explaining gold price fluctuations
04/13/2010 Long-term bearish on China
03/23/2010 Measuring the Money Supply
03/16/2010 Are rising interest rates bullish or bearish for gold?
03/09/2010 Diverting the blame for "inflation"
03/02/2010 “Peak Gold” Central Banker Confusion
02/23/2010 The "too big to fail" lie (as applied to US banks)
02/16/2010 Monetary Inflation & the Fed’s Exit Strategy
02/02/2010 Gold Stocks vs Gold Bullion
01/19/2010 Interest Rate Manipulation
01/12/2010 Thoughts on Monetary Inflation
12/15/2009 Recognition of the US Inflation Problem
12/08/2009 Dubai, Inflation, and Gold
12/01/2009 Inflating away the debt? Not really
11/24/2009 The stock market’s lengthy topping process
11/10/2009 Why changes in gold production don't matter
11/03/2009 Bank Reserves and Inflation
10/27/2009 The "long run" is a sequence of "short runs"
10/20/2009 Popular Misconceptions
10/13/2009 Gold and Saving
09/29/2009 The "credit-based" monetary system
09/22/2009 Mini Inflation Blow-Off
09/16/2009 Is this the top for the gold sector?
09/08/2009 Gold money vs. the monetary ambitions of governments
09/01/2009 The Inflation Process
08/25/2009 Bank Reserves and Inflation
08/11/2009 Withdrawing the Stimulus
08/10/2009 Paying people to break windows
08/04/2009 Getting some things straight regarding China
07/21/2009 M3’s false signal & the Japan myth
07/20/2009 The coming government debt default
07/07/2009 Inflation: Expectations and Effects
06/23/2009 The Depression Case Reiterated
06/16/2009 The Government Bubble
06/02/2009 Money Confusion & Inflation/Deflation
05/26/2009 Thoughts The Gold Standard, Risk & Speculation
05/19/2009 Why we are gold bulls
05/12/2009 Everyone is wrong, again (except the gold bulls)
05/05/2009 Central planning is back in vogue
04/28/2009 The Effects of Inflation
04/14/2009 Greenspan’s Mistake
04/07/2009 What’s happening on the inflation front?
03/24/2009 Gold The Big Picture
03/17/2009 Market Value, Money & Credit
03/10/2009 Sentiment In the gold, stock & commodity markets
03/03/2009 Depression and Inflation
02/24/2009 Arguments against the depression outlook
02/17/2009 The End of an Era
02/10/2009 The Coming Great Depression
02/03/2009 The Inflation-Deflation Debate
01/27/2009 It's ONLY a gold bull market
01/20/2009 Loan defaults, deflation and bonds
01/13/2009 Bear Market Comparison
01/07/2009 Monetary Delays
01/05/2009 Gold stocks during the 1930s
12/16/2008 The next bubble to burst
12/09/2008 Deflation and Counterfeiting
12/02/2008 Increasing Instability
11/25/2008 Political Pragmatism/Evaporating Wealth
11/18/2008 Gold: Is there a valid bearish argument?
11/11/2008 The "Paradox of Thrift"
11/04/2008 Commodities Long-term outlook
10/28/2008 Inflation Watch
10/21/2008 Trying to get something for nothing
10/13/2008 Financial Crisis will soon abate, Real Crisis will soon begin
10/07/2008 Inflation's New Upward Trend
09/23/2008 Disastrous Policies
09/16/2008 The Real Interest Rate
09/09/2008 Bernanke has kept his helicopters grounded...
09/02/2008 Gold Supply and Demand
08/29/2008 The Coming Deflation Scare
08/19/2008 Gold and the Money Supply
08/12/2008 The US$ and the Gold Sector
08/05/2008 Natural Gas Weekly Market Update
07/29/2008 The difference between good money & bad money
07/22/2008 Money, Credit, Inflation & Deflation
07/15/2008 Gold Stocks The '1973 model'
07/10/2008 Government Spending and Inflation
07/01/2008 The 1973 Model
06/17/2008 Returning to gold money
06/03/2008 The Stock Market's Secular Trend
05/27/2008 Monetary Stuff
05/20/2008 Bonds and Interest Rates
05/13/2008 Gold versus Industrial Commodities
04/29/2008 Credit Contraction, Economic Bust...
04/22/2008 The Decade Cycle
04/15/2008 Commodities: The topping process continues
04/01/2008 Is the Fed deflating?
03/18/2008 Stagflation & other misconceptions
03/11/2008 Gold Stock Scenarios
02/26/2008 ...a manic-depressive mob
02/19/2008 Gold stocks vs gold bullion: the pressure builds
02/05/2008 The sub-par performance of gold stocks
01/29/2008 A Stock Market Bottom
01/23/2008 Bad Economics
01/15/2008 Gold Sector Update: No speculative froth, yet
01/08/2008 Elephants and Market Stabilisers
01/02/2008 Industrial Commodities Update
12/18/2007 What to do about gold stocks?
12/14/2007 China's Currency Problem
12/04/2007 Exploration-Stage Gold Stocks
11/27/2007 Industrial Metals in Nominal & Real Terms
11/20/2007 Which market is wrong?
11/13/2007 Stock Market Notes
11/06/2007 Economic Confidence...
10/23/2007 The "Secular Bear" Thesis Revisited
10/16/2007 Commodities and the Crack-Up Boom
10/09/2007 Fed rate cuts and the US$
10/03/2007 Gold Risks The COT & the Dollar
09/25/2007 Not a good time to be a govt price fixer
09/18/2007 Inflation: not a monetary phenomenon after all?
09/11/2007 Gold and the Fed
09/04/2007 Random thoughts on stocks, debt, gold
08/28/2007 Thoughts: Currencies & the Gold/Silver Ratio
08/21/2007 Stock Market: Looking forwards by looking backwards
08/14/2007 Inflation and the Base Metals
08/07/2007 Gold and Gold Stocks
07/30/2007 The Long-Term Bond Bear
07/17/2007 More thoughts...
07/10/2007 The Commodity "Super Cycle"
07/03/2007 A logical inconsistency...
06/26/2007 Some stuff about gold...
06/19/2007 Cutting Through the Bull
06/12/2007 The Bearish Bond Divergence
05/29/2007 Equities, Inflation and Gold
05/22/2007 Why the US$ will rally
05/15/2007 The Yen Carry Trade
05/08/2007 Currencies and Equities
05/01/2007 Gold Stocks' Leverage (or lack thereof)
04/24/2007 The Bond Bear
04/17/2007 Focus on the disease, not the symptom
04/10/2007 Is the Fed privately owned? Does it matter?
04/02/2007 Analysing the Gold Sector's Performance
03/27/2007 A sustained or momentary liquidity contraction?
03/20/2007 Stocks, Commodities & Inflation
03/13/2007 Silver versus Gold
03/02/2007 Sometimes it actually is different
02/20/2007 Inflation's non-uniform modus operandi
02/14/2007 The Dollar-Gold Relationship
02/06/2007 Stock Market Outlook 2007
01/30/2007 The Current Account Diversion
01/23/2007 Short-term Interest Rates & the US Stock Market
01/17/2007 Confusing the effects of inflation with real improvement
01/11/2007 Natural Gas Update
01/09/2007 How fast will S&P500 earnings grow?
12/18/2006 The 'Strong' Yuan
12/12/2006 The Globalisation of Finance
12/05/2006 The Stock Market: Warning Shots & Spin
11/28/2006 A reason to like gold/A reason to dislike...
11/21/2006 Are rising interest rates bullish or bearish for gold?
11/14/2006 Debunking "growth leads to higher prices"...
11/07/2006 Growth Causes Inflation?
11/01/2006 Markets about to turn the screws on the Fed?
10/24/2006 Inflation, Manipulation, Long-Term Mkt Trends
10/19/2006 Playing a Rebound in the Oil Sector
10/10/2006 Base Metals and Manipulation Theories
09/26/2006 Gold Stock Cycles
09/19/2006 The coming industrial metals downturn
09/12/2006 A Strange Inverse Relationship
09/05/2006 The Gold-Oil Relationship
08/29/2006 Out-of-the-box thoughts on the yield curve
08/15/2006 The Main Flaw in the Deflation Case, pt 2
07/25/2006 Gold versus Silver and the US$
07/18/2006 The Main Flaw in the Deflation Case
07/11/2006 US$ Fundamentals...
07/04/2006 Gold versus Other Markets
06/20/2006 Why do we have taxation?
06/13/2006 Gold Sector Review
05/30/2006 Stock Market: Valuation, Real Performance, Warning Shot
05/23/2006 Understanding the Gold Bull
05/16/2006 Can you profit from a falling US$ by buying...
05/03/2006 Gold versus Oil
04/25/2006 Gold's Message
04/18/2006 Interest Rates
04/07/2006 Intermediate-term outlook for the US stock market
04/04/2006 Is the US following Japan's path?
03/28/2006 Problems With Price Indices
03/21/2006 The Non-Stop Inflation
03/17/2006 The long-term dollar bear
03/08/2006 Iran and Oil
02/22/2006 The Silver Versus Gold Debate
02/14/2006 The World's Most Misleading Words
02/10/2006 China and Gold
02/06/2006 The End Game
01/18/2006 Gold Sentiment
01/09/2006 Gold's Missing Monetary Premium (part 2)
12/30/2005 The Fed's Biggest Fear
12/19/2005 Boom/Bust Cycles
12/09/2005 The most important chart in the financial world
11/30/2005 The Dollar and the Current Account
11/22/2005 Silver versus Gold
11/15/2005 Inflation: What, Why and How
11/05/2005 The Bernanke Fed
10/28/2005 The long and the short of it
10/18/2005 Inflation, Inflation Expectations & the Dollar
10/04/2005 Gold Stocks versus Oil Stocks
09/23/2005 Houses and Commodities
08/25/2005 Gold's missing monetary premium
08/09/2005 Gold and Terrorism
07/26/2005 The Golden Constant
07/19/2005 Inflation Expectations
07/12/2005 The Bond Story
06/30/2005 Gold versus Oil
06/24/2005 Pegging to Gold and a 100% Gold Standard
06/17/2005 Euro Negativity
06/03/2005 The Dollar Rally: Parallels with the late-1980s
05/27/2005 Inflation & Deflation: Definitions explained
05/18/2005 The Counter-Cyclical Nature of Gold Stocks
05/10/2005 Gold and Deflation, Part 2
04/27/2005 Gold versus Commodities
04/19/2005 Gold and Deflation
04/12/2005 The Coming Deflation Scare
04/07/2005 Gold versus Commodities
03/16/2005 High-Confidence Views
03/04/2005 Commodities and Gold
02/22/2005 The Secular Trend
02/01/2005 The best money for long-term investors
01/18/2005 It's a matter of confidence
01/10/2005 The Coming Deflation Scare
01/04/2005 Why should the dollar rally?
12/17/2004 The US dollar, asset markets & current account
11/30/2004 A positive case for the stock market?
11/24/2004 Why the US$ is likely to rise
11/19/2004 Stock Market: Why this year has not been simple
11/09/2004 Thoughts on Interest Rates
10/21/2004 Big Picture Stuff
10/11/2004 Gold Stock Seasonality
10/01/2004 Managing Inflation Expectations
09/22/2004 Bonds and 'flatio
09/16/2004 More thoughts on the "synthetic dollar short" theory
09/02/2004 Gold versus Silver
08/12/2004 Why hold gold stocks at all?
07/29/2004 Gold and the Dollar
07/16/2004 Gold and Interest Rates
06/30/2004 Investment Success & the Long-Term Gold Bull
06/23/2004 Gold stocks, the yield-spread & the 'Hedge Fund Economy'
06/15/2004 The Secular Stock Market Trend
05/19/2004 The Deflation Threat/More Thoughts on Gold...
05/11/2004 The Stock Market, Gold & Interest Rates
04/26/2004 The US$ Short Position
04/21/2004 Stock market 'on the edge'
04/05/2004 The relationship between the dollar & the current account
03/26/2004 Bonds and Deflation
03/15/2004 Silver, Deflation, Gold & Bonds
03/02/2004 Dollar Fundamentals & Non-US$ Commodity Prices
02/21/2004 A brief look at cycles
01/30/2004 Gold Sector Update
12/29/2003 The Gold Sector
12/05/2003 Interest Rates and Oil
11/21/2003 The long-term dollar bear
11/14/2003 Why the Fed will have to hike