China's recent move to devalue the yuan has sent shock waves through the global financial markets and has convinced most observers that a new front in the global currency wars has begun.
While many economists and market watchers have failed to notice, we have entered a new chapter in the short and checkered history of central banking.
The inability for governments to pay back debt spells economic disaster.
Even investors who typically eschew precious metals have been hard-pressed to ignore the platinum industry this year.
The LIBOR scandal broke almost two years ago, and the banks found responsible for manipulating that key index are still dealing with lawsuits. Meanwhile, allegations of gold market manipulation have been simmering for over a decade and grew into an inferno after the spot price dropped dramatically last spring.
If gold shot up too quickly, these banks may have reasoned, it could trigger a panic flight from fiat currencies.
Before Bear Stearns and Lehman collapsed, the market for physical gold was limited to a relatively small group of investors who understood the havoc inflation was wreaking on our savings and the US markets.
It's impossible to know precisely how much dark gold exists around the world, but we do know that it is enough to render "official" gold holdings insignificant.
The same forces that are stabilizing stocks and suppressing gold are also the fundamental reasons long-term investors have been buying gold since the turn of the new millennium. The so-called recovery we're now experiencing is just a lull in a storm that hasn't yet abated.
Having replaced savings with debt on both the national and individual levels, I think it's well past time for Westerners to take a few lessons from our creditors in the East.
The real message behind Bernanke's excuse for putting off tapering is that there is never going to be a taper.
"Silver may rise much faster in order to realign with its historical price ratio to gold."
Time to sell bullion and get back into US stocks.
The most puzzling part of the investment business is seeing how the vast and largely economically illiterate masses interpret any given piece of news.
VIDEO: A precious metal bar that can be broken into one-gram segments.
Testifying before the US Senate this past Tuesday, Fed Chairman Ben Bernanke made an extraordinary claim about its bloated balance sheet: "We could exit without ever selling by letting it run off."
“People who are saying there is no reason to buy gold now, never understood the reason people were buying it in the first place."
Economists who hold the popular view that expanding the money supply will provide the best medicine for our ailing economy dismiss concerns.
Investors can escape Japan's coming currency deflation by turning to gold and silver
By upping the ante once again in its gamble to revive the economy through monetary action, the Federal Reserve's Open Market Committee is now compelling the rest of us to buy into a game that we may not be able to afford.
Central banks fueled the supply of gold by 400-500 tons per year on average between 1989 and 2007, they are now increasing demand by the same factor.
Treasury Secretary Timothy Geithner made news last week by proposing to transfer the Congressional prerogative to raise the debt ceiling to the President.
The unremitting deterioration of the eurozone's sovereign debt landscape continues to fuel uncertainties about the longevity of the euro as a hard currency.
This past Friday, as Fed Chairman Ben Bernanke delivered his annual address from Jackson Hole - the State of the Dollar, if you will - I couldn't help but hear it as an incumbent's campaign speech.
There is an ongoing three way debate between those who believe the Fed should do more to strengthen the recovery, those who believe that the recovery is strong enough to continue on its own, and those who believe that the economy has been so fundamentally altered by the recession that no amount of stimulus can succeed in pushing unemployment down to pre-crash levels.