Tag Archives: gold
My New Year wishes
The world economic recovery remains fragile and could easily be derailed by renewed financial turmoil. My first wish is a terminological one – please, can we find a more useful word or phrase to describe what has happened? The word “crisis” and the phrases “financial crisis” , “great financial crisis”, “Global Financial Crisis” ,…
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A five-point reform plan
Joseph Potvin of The Opman Company has sent me an “operational summary of the Ikon monetary standard and unit of account”, which I am pleased to share with visitors to this website. Thank you, Joseph, for going through the book so carefully and distilling the reforms it proposes in Part 4 to the global…
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Why gold is back
In investment terms, we face a scenario that says neither bonds nor equities are likely to rise. The ‘uncertainty’ is greater than ever. And it is ‘uncertainty’ that drives people into gold, not relative values in paper currencies. We have to think that gold is the central thing around which everything else moves….
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Volcker, Lagarde, Rees-Mogg and the Ikon
Lord Rees-Mogg, former editor of The Times, London and doyen of British commentators, has called for a reform of the global financial system (GFS). Rees-Mogg quotes Paul Volcker, who in a recent interview described the present period as one of the most difficult in history: “This is a recession on top of a complete financial…
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Come on guys!
Hello! Back to the grindstone after the holidays. This Diary entry draws on evidence I submitted last week to the Parliamentary Commission on Banking Standards. It examines the link between the failure of money and continuing economic weakness. How long will it take governments to realise that we will never get a lasting recovery without…
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The world needs a new currency
The following article by Robert Pringle was published by The Christian Science Monitor on July 27. The financial crisis, the 2008/09 recession, the banking scandals that have followed, and today’s limping recovery are all linked. The common factor is the absence of a real international monetary and banking order. Only when such an order is restored will…
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Can London lead a financial rebirth?
The reputation of the City of London has been badly damaged, however the LIBOR affair turns out. People will inevitably ask, who knows what other kinds of criminal or near-criminal activity have been taking place? Would the LIBOR attempted price fixing have come to light without those incriminating emails? What other forms of collusion are…
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