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Stock Market Dangers, Stress Test Your Portfolio; Axel Merk: Lot of Damage to Be Caused

Welcome to this week’s Market Wrap Podcast, I’m Mike Gleason. Later in today’s program we’ll hear from Axel Merk of Merk Investments. Axel gives a wonderful explanation of what’s behind this week’s wild market action, weighs in on gold’s role as a safe haven in the midst of potential chaos and tells us why he believes volatility his here to stay. Don’t miss a fantastic interview with Axel Merk, coming up after this week’s market update. Well, there were few places for investors to hide this week. Stocks, bonds, and to a lesser extent precious metals all got hit with […]

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Dangers of Zero

Zero is an important number in the psychology driving demand for bullion. There are periods when investors find the argument that gold or silver prices “will never go to zero” compelling. The 2008 financial crisis and the years immediately following it are the most recent example. The fear of conventional securities and even the fiat dollar becoming worthless was palpable for many in the metals markets. Bullion demand hit record levels. Investors have chased bull marketsfor fear of being left behind. While demand for gold ETFs and futures contracts has been strong in 2016 and 2017, some investors in the […]

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The dangers of historical taboos

The Group of 30 central bankers and economists has produced a new report, “Fundamentals of central banking: lessons from the crisis”. It traces the history of central banking theory and practice, including the economic thought that underlies it. And it draws from it some important lessons about the causes of the 2008 crisis and the reasons for the very long, slow recovery. I’ve discussed the main themes of the report here (Forbes). But in this post, I want to focus on a particular piece of economic history. This chart leapt out at me from the report: Note that this chart […]

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