Monthly Archives: June 2014

Economic Insights: Iraq – New Market Theme

The nearby Brent crude oil price rose early today to a nine-month peak above $113/bl.  Since news broke that Mosul had fallen to a force of Sunni extremists, the market has built a risk premium of about 3% into this price.   That is still modest compared with the rises in crude costs that occurred in… Read more »

The nearby Brent crude oil price rose early today to a nine-month peak above $113/bl.  Since news broke that Mosul had fallen to a force of Sunni extremists, the market has built a risk premium of about 3% into this price.   That is still modest compared with the rises in crude costs that occurred in… Read more »

Asian Gold Strategy Clarifying

The Russians came up with an extraordinary statement recently, central to why Russia and China are buying gold, the importance of which was missed by the media. President Putin said that “Russia and China need to secure their gold and foreign reserves.” He may have been overstepping the mark in making comments about China’s monetary… Read more »

The Russians came up with an extraordinary statement recently, central to why Russia and China are buying gold, the importance of which was missed by the media. President Putin said that “Russia and China need to secure their gold and foreign reserves.” He may have been overstepping the mark in making comments about China’s monetary… Read more »

Market Volatility Grinds to a Halt

There is uneasiness across a number of markets with moment-to-moment volatility grinding almost to a halt. It contributes to a feeling that this is the calm before a storm. It is not unusual for there to be a summer lull, or for one market to suffer disinterest relative to another, but the current situation across… Read more »

There is uneasiness across a number of markets with moment-to-moment volatility grinding almost to a halt. It contributes to a feeling that this is the calm before a storm. It is not unusual for there to be a summer lull, or for one market to suffer disinterest relative to another, but the current situation across… Read more »

Economic Insights – A critical juncture

Over the course of the last century, the US Congress has been blamed for much that has gone wrong in international relations. The unwillingness of Congressional leaders in 1919 to support US participation in the League of Nations doomed from the outset that quixotic attempt to put global relations on a rational basis.  Renewed world war was the eventual… Read more »

Over the course of the last century, the US Congress has been blamed for much that has gone wrong in international relations. The unwillingness of Congressional leaders in 1919 to support US participation in the League of Nations doomed from the outset that quixotic attempt to put global relations on a rational basis.  Renewed world war was the eventual… Read more »

The Death of Paper Money

This year of 2014 marks an important centenary, not only as the 100th. anniversary of the beginning of the ghastly war to end all wars (the 100 year cycle is an important war cycle, as it is for most other cycles), but also, for the collapse of the international gold standard monetary system, which was… Read more »

This year of 2014 marks an important centenary, not only as the 100th. anniversary of the beginning of the ghastly war to end all wars (the 100 year cycle is an important war cycle, as it is for most other cycles), but also, for the collapse of the international gold standard monetary system, which was… Read more »