In 1971, the (semi-)gold standard was abandoned and replaced by a PhD standard. Under the PhD standard, the money supply is no longer linked to the national gold reserves, but is instead at the mercy of central bankers and their arbitrary judgments. Never before did academics have so much power and influence over the financial markets.... »
Will the European 'QE' Make It to the Finish Line?
April 28 2015
Olav Dirkmaat
China's New Silk Road and Its Implications for Gold
April 20 2015
China will be the global powerhouse of the 21st century. This was reconfirmed while I visited an international precious metals conference in Dubai this week. Among the speakers was the Vice President of the Shanghai Gold Exchange. China is gradually opening its financial markets and gold is one of the cornerstones of this development.... »
Olav Dirkmaat
Three Reasons Why ABN AMRO Is Wrong about the Gold Price
April 7 2015
ABN AMRO, a Dutch government-owned bank, is currently a hot topic in the Netherlands. The bank’s board gave themselves a generous increase in salary, provoking public outrage. These directors act as if they’re working for a privately-owned bank, while all future losses will be shouldered by... »
Olav Dirkmaat
Three Things You Should Avoid When Reaching for Yield
March 30 2015
This month, Rabobank was the first Dutch bank to lower its interest rate on saving accounts below 1 percent. Other banks are expected to follow promptly, considering that over 25% of all outstanding European government bonds currently yield a negative interest rate. For the first time in history, there are companies borrowing money at negative rates.... »
Olav Dirkmaat
