Articles
The Fog of Oil
War, oil and gold are making headlines of late for overlapping and independent reasons. Below, we avoid the guesswork, finger-pointing or sensationalism attendant to current headlines concerning Iran...
Matthew Piepenburg / March 6, 2026
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Even Banks Now Bow to a Golden Master
Although I never expected to say this, if you are still wondering about gold’s future price direction, just ask the big banks… Getting Real Emerging from a 2025 in which gold saw 53 all-time-highs and...
Matthew Piepenburg / February 26, 2026
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Private Credit’s Slow-Death: Sending Banks Down & Gold Higher
As headlines and pundits squabble about price moves in gold and silver, many “experts,” as usual, are missing the bigger picture of a historically unprecedented convergence of debt, credit, banking an...
Matthew Piepenburg / February 19, 2026
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Alasdair Macleod: The Threat to Commodity Derivatives
For years, bulls of gold and silver have complained about how derivatives have been used to suppress their prices. Their dreams of the practice ending could be coming true. Introduction If you think a...
Alasdair Macleod / February 17, 2026
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Making Sense of “Silver Friday’s” Utterly Rigged Nonsense
On Friday, January 30, 2026, the world learned (or rediscovered) just how grotesquely rigged the paper gold and silver markets truly are. The Great (Yet Familiar) Fall Despite no change whatsoever in...
Matthew Piepenburg / February 2, 2026
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Oil, Dollars, Gold & Venezuela in a Nutshell
Putting any kind of bow on the current headlines to conveniently explain or “wrap up” recent events in Venezuela would be a fool’s errand. The extraordinary mix, as well as polarized views, as to the...
Matthew Piepenburg / January 18, 2026
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The Maths of a Debt Trap by Alasdair Macleod
Stagnating economies, together with high government debt loads, inevitably create funding crises and debt traps. Nowhere is this problem more destructive than for the fiat dollar. But it’s not just th...
Alasdair Macleod / January 5, 2026
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Gold’s Bigger Picture in a Narrowing 2026
It’s that time of year again to put everything together somehow. But looking back on the knowns of 2025 as we prepare for the inevitable unknowns of 2026, there is little need for the wringing of hand...
Matthew Piepenburg / December 31, 2025
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Silver Just Called the COMEX’s Bluff
December means many things: A year coming to an end, a time for reflection, a time for looking ahead. A time for family and friends, and of course, a time for holiday belly-expansion. However, what ma...
Matthew Piepenburg / December 22, 2025
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Could a Debasement Trade Drown Those without Gold?
Anyone who has spent decades within a specific craft or industry (be it carpentry, medicine, academia, masonry, or markets) slowly acquires not only skills but pattern recognition. The years, as I lik...
Matthew Piepenburg / December 10, 2025
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The Problem With GDP
With signs of economic stagnation hard to ignore, politicians, economists, and even central bankers talk about the necessity for economic growth. Not only are they displaying economic ignorance, but b...
Alasdair Macleod / December 3, 2025
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Ignored Red Repo Signals = More Obvious Golden Tailwinds
Markets are many things, but in simplest terms, they are a paradox. From the Complex… By this, I mean they are incredibly and intentionally complex, which makes them a kind of exclusive environment ma...
Matthew Piepenburg / November 24, 2025
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