Welcome to Scribd, the world's digital library. Read, publish, and share books and documents. See more
Download
Standard view
Full view
of .
Look up keyword
Like this
3Activity
0 of .
Results for:
No results containing your search query
P. 1
Tocqueville Gold Monitor Q1 2014

Tocqueville Gold Monitor Q1 2014

Ratings: (0)|Views: 1,436 |Likes:
Published by Gold Silver Worlds
John Hathaway's quarterly gold monitor shows the gold market and the macro economic context in 50 charts.
John Hathaway's quarterly gold monitor shows the gold market and the macro economic context in 50 charts.

More info:

Published by: Gold Silver Worlds on Apr 13, 2014
Copyright:Traditional Copyright: All rights reserved

Availability:

Read on Scribd mobile: iPhone, iPad and Android.
download as PDF, TXT or read online from Scribd
See more
See less

06/25/2014

pdf

text

original

 
1
Section I. Macro
$0$200$400$600$800$1,000$1,200$1,400$1,600$1,800$2,000
2000 2002 2004 2006 2008 2010 2012 2014
-5%-4%-3%-2%-1%0%1%2%3%4%5%
Fig.1.
Gold and US Real Rates
US Real RatesGold Price
Source: Bloomberg
$0$500$1,000$1,500$2,000$2,500$3,000$3,500$4,000$4,500
1995 1999 2003 2007 2011
Fig.2.
Fed Balance Sheet ($B)
Source: Bloomberg
-3%-2%-1%0%1%2%3%4%
2000 2002 2004 2006 2008 2010 2012 2014
 0
 200
 400
 600
 800
 1,000
 1,200
 1,400
 1,600
Fig.3.
Gold and ECB Real Rates
GoldECB Real Rates
Source: Bloomberg
 0
 500
 1,000
 1,500
 2,000
 2,500
 3,000
 3,500
1999 2003 2007 2011
Fig.4
. ECB Balance Sheet (
 €
B)
Source: Bloomberg
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
2000 2002 2004 2006 2008 2010 2012 2014
-5%-4%-3%-2%-1%0%1%2%3%4%5%
Fig.5.
Gold and PBC Real Rates
PBC Real RatesGold
Source: Bloomberg
0
5,000
10,000
15,000
20,000
25,000
30,000
35,000
2003 2005 2007 2009 2011 2013
Fig.6.
PBC Balance Sheet (CNY B)
Source: Bloomberg
 
2
Section I. Macro
$4$6$8$10$12$14$16
2006 2007 2008 2009 2010 2011 2012 2013 2014
Fig.7 
. The Biggest 6 Central Bank Balance SheetsUS, UK, Japan, China, EU & Switzerland (US$T)
Source:Bloomberg
-5%0%5%10%15%20%25%1970 1980 1990 2000 2010
Fig.9.
US M1 YoY%
Source: Bloomberg
0%5%10%15%1970 1980 1990 2000 2010
Fig.10.
US M2 YoY%
Source: Bloomberg
0%5%10%15%20%1999 2001 2003 2005 2007 2009 2011 2013
Fig.11.
ECB M1 YoY%
Source: Bloomberg
0%2%4%6%8%10%12%1999 2001 2003 2005 2007 2009 2011 2013
Fig.12.
ECB M2 YoY%
Source: Bloomberg
0%5%10%15%20%25%30%35%40%1996 2000 2004 2008 2012
Fig.13.
PBC M1 YoY%
Source: Bloomberg
0%5%10%15%20%25%30%35%1996 2000 2004 2008 2012
Fig.14.
PBC M2 YoY%
Source: Bloomberg
$0$10$20$30$40$501999 2003 2007 2011$0$500$1,000$1,500$2,000
    h   o   u   s   a   n    d   s
Fig.8.
Gold and M2
(US$B; Fed, ECB, PBC
)
GoldM2
Source: Bloomberg
 
3
Section I. Macro
Fig.15
. InflationUSEuro AreaChinaHeadline CPI
 1.1 0.5 2.0
Core CPI
 1.6 1.0 n/a
Shadowstats
 8.9 n/a n/a
0%5%10%15%20%25%2013200920052001199719931989
Fig.20.
Interest Expense as % of Total Government Outlays
Source: Bloomberg; USTreasury 
$13$14$15$16$17$182011 2012 2013 2014
Fig.18.
The Debt Ceiling ($T)
Total Federal DebtDebt Ceiling Limit
Source: BloombergSource: Bloomberg, Shadow Government Statistics. As of 2/28/2014
2.0%2.5%3.0%3.5%4.0%4.5%5.0%5.5%6.0%6.5%7.0%2000 2002 2004 2006 2008 2010 2012 2014
Fig.19. Average Annual Interest Rate on US Debt
Source:US Treasury, Meridian Macro.
$0$5$10$15$20$25
1940 1950 1960 1970 1980 1990 2000 2010
Fig.16.
US National Debt ($T)
Source: TreasuryDirect.gov,USDebtClock.org
120%170%220%270%320%370%1947 1957 1967 1977 1987 1997 2007
Fig.17.
US Debt as % of GDP
Source: Bloomberg

You're Reading a Free Preview

Download
/*********** DO NOT ALTER ANYTHING BELOW THIS LINE ! ************/ var s_code=s.t();if(s_code)document.write(s_code)//-->