In our most recent seminar, I mentioned that Greece would not be able to make its due payment to the IMF without the help of European taxpayers. Last Thursday, the Greek Prime Minister – Alexis Tsipras – admitted that he would be unable to make the payment; Greece has run out of money. What will happen next?... »
What You Must Know about Greece
June 9 2015
Olav Dirkmaat
Why the Yuan Will Never Be Backed by Gold
June 2 2015
In order to understand where gold prices are heading, we first have to learn about price formation. Also, let’s debunk some myths surrounding the Chinese demand for gold, and how it affects your gold investments.... »
Olav Dirkmaat
A Typical Case of an Austrian Business Cycle in China and Gold
May 29 2015
The Chinese account for over a third of total gold demand. We know therefore that any development in China — either positive or negative — has a rippling effect on gold, as well as other commodities that were bid up to new record heights during the Chinese credit bubble.... »
Olav Dirkmaat
How (Central) Banking Really Works (Part II)
May 26 2015
In the previous part of this mini-series, we discussed how our bank balance isn’t money, but rather a form of credit (a loan to the bank that is redeemable on demand). In order to understand what money really is, we looked at the origin of money and the influence of central banking on money.... »
Olav Dirkmaat
