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 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
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”
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”
For those who may remember and miss Michael Pollaro’s blog centering on the True Money Supply (TMS) at Forbes, I keep tabs on his updates in a private email group and will occasionally post with his permission. G3 TMS continues to decelerate, though ever so slight, with Euro TMS ticking down 20 bps in Jan to 6.5% YoY, while US TMS remains at a modest … Continue reading Austrian TMS Update
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?
Keith Weiner is so much further into the realm of gold than I am. He does gold for a living and has routinely debunked the pitchmen and charlatans that populate the “gold analyst” community. I on the other hand simply know that gold – the actual metal – is a hunk of stability that sits and goes nowhere while everything else around it flies up … Continue reading Price Fixing, Gold and Money Supply
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’