The Reserve Bank this week released their 2020/21 Annual Plan: The Governor confirms the Bank’s continuing commitment to achieving consumer price inflation between 2 and 3 per cent, on average, over time, consistent with its duties under the Reserve Bank Act 1959. Achieving the inflation target preserves the value of money and facilitates strong and sustainable growth in

Jackson Hole When is a summit not a summit? I would say, when it’s just a phone call. That’s too hard for our central bankers and not serious or important enough, so they are pretending to go to the Jackson Hole Summit this year by calling it the “Jackson Hole Summit”. In fact, nobody is

August 15th Last Saturday we reached the 49th anniversary of the collapse of the Bretton Woods monetary system. It was on August 15th 1971 that Richard Nixon confirmed he was “temporarily” closing the gold redemption window. Without the formal anchor of a scarce resource, debt and inflation have run wild since then with the following

Your clever friend I hear about your clever friend a lot. He (and it is always he) has a lot to say about bitcoin. In general he is highly educated, normally at a cost of more than $150,000 for the many letters appending his name. He has a highly paid job in an unspecified low

You are here 1. Global debt now 280% of GDP. Bond yields at all time lows. 2. Federal Reserve balance sheet in vertical print mode. Now at $7 trillion.   3. ECB balance sheet in vertical print mode. Now exceeds 50% of EU GDP.   4. Here’s the NASDAQ. FANGMAN stocks now worth more than

Wirecard Wirecard Bank was a hero of the banking community in Germany. They grew very rapidly by servicing payments for niche operators around the world. They were part of the elite German DAX30, among the largest companies in the country. The full story of their demise is yet to be told but it boils down

The Gold and Bitcoin Fund As regular readers know, we are rather keen on bitcoin here at ListedReserve. The thesis is simply that so few things have known supply and provable scarcity. Some investors though are more comfortable with gold because it has tens of thousands of years of history and is a proven inflation

It’s a Scam Rarely these days do we encounter the feedback “bitcoin is a scam”. It does happen though including this week. The argument was along the lines of, it’s only valuable as long as people say it is, otherwise it isn’t.  A bit like gold then. Nobody ever decreed gold as money, people just