NFTRH 737

NFTRH 737 Merry Christmas folks, and happy holidays of all persuasions. Let’s jump into an abbreviated, summary style report [edit: of course it did not quite go that way as the thoughts, words, pictures and logical deductions came as they would]  this week and keep it simple at the dawn of 2023. While 2020 was interesting due to the effects of dovish Fed policy on … Continue reading NFTRH 737

Trey Reik on monetary policy & gold: A Call to Arms

Trey was an NFTRH subscriber back when he was a research analyst at Sprott, and has since gone on to form or at least become a major part of the Bristol Group, based here in MA. That was how I got to know him (by email, at least). I should actually meet him some day as he’s down the Cape and I am west of … Continue reading Trey Reik on monetary policy & gold: A Call to Arms

indicators

“Liquidity Alarm”

Market liquidity is draining from different vantage points On Wednesday I made a post that showed the “metallic credit spread” (as coined by Bob Hoye) known as the Gold/Silver ratio (GSR) flipped on its head (to Silver/Gold) to indicate a dangerous situation for the S&P 500, if past is prologue. Here is that post and here is the Tweet that followed… Silver, with more cyclical … Continue reading “Liquidity Alarm”

money supply

The Sordid (pictorial) Story of the “Richest Country in the World”

Steve Saville’s excellent post The monetary inflation moonshot (including the graph directly below) prompted me to go to the St. Louis Fed website and check out some COVID-era data graphs. So in addition to Steve’s calculation of the moonshot in new (funny) munny, which if we’re being honest is the only trick in the Fed’s bag, here are some other pictures from the financial and … Continue reading The Sordid (pictorial) Story of the “Richest Country in the World”

Remember Michael Pollaro and TMS?

Michael Pollaro used to have a blog at Forbes with which he highlighted the ‘True (Austrian-based) Money Supply’ (TMS) among other macro market indicators. I used to read him fairly regularly. He is no longer blogging, although I would encourage him to do so again. I would be honored to re-publish his work at Biiwii. Anyway, Michael has included me in an email group of … Continue reading Remember Michael Pollaro and TMS?

S&P 500 Simply Following its ‘Stimulus’

As corporate profits have decelerated over the last year the S&P 500 was left with little more than the monetary base, which had been ramped like crazy by post-2008 monetary policy.  Then money supply began to sag and the bulls were in trouble, until… money supply got a new boost lately. Where did that come from?  Hey, I have enough macro indicators and charts to … Continue reading S&P 500 Simply Following its ‘Stimulus’