Steve Saville

Steve SavilleSteve Saville graduated from the University of Western Australia in 1984 with a degree in electronic engineering and from 1984 until 1998 worked in the commercial construction industry as an engineer, a project manager and an operations manager.  In 1993, after studying the history of money, the nature of our present-day fiat monetary system and the role of banks in the creation of money,  Saville developed an interest in gold.  In August 1999 he launched The Speculative Investor (TSI) website. Steve Saville has  lived in Asia (Hong Kong, China and Malaysia) since 1995 and currently resides in Malaysian Borneo.  Visit his website at http://www.speculative-investor.com/new/index.html. You can reach Steve at: sas888_hk@yahoo.com.

Steve Saville Articles

My two “Gold Is Not Money” articles provoked numerous disagreeing responses, the majority of which were polite and well-meaning. Despite presenting various arguments, these responses had one thing in common: they did not offer a practical...
I opened a blog post on 7th October with the statement that gold was money in the distant past and might again be money in the future, but isn’t money in any developed economy today. I then explained this statement. The post stirred up a...
Gold was money in the distant past and it will probably be money in the distant future, but there is no developed economy in which gold is money today. In this post I’ll explain why.
To paraphrase Jim Grant, gold’s perceived value in US$ terms is the reciprocal of confidence in the Fed and/or the US economy. That’s why the things I refer to as gold’s true fundamentals are measures of confidence in the Fed and/or the US...
After China’s government announced a small reduction in the Yuan’s foreign exchange (FX) value early last month, US Presidential aspirant Donald Trump immediately leapt onto the nearest available podium and exclaimed:
At the end of the week before last the amount of physical gold held by the SPDR Gold Trust (GLD), the largest gold bullion ETF, fell to its lowest level since September-2008. What does this tell us?
Gold is very different from all other commodities. This is due to physical characteristics that caused it to be money for thousands of years and led to its aboveground supply becoming orders of magnitude greater than its annual production*.
Here are ten basic gold-market realities that are either unknown or ignored by many gold ‘experts’. 1. Supply always equals demand, with the price changing to maintain the equivalence. In this respect the gold market is no different from...
A bullish divergence between the gold-mining sector of the stock market, as represented by the HUI and/or the XAU and gold bullion involves the gold-mining sector having an upward bias, while gold bullion has a downward bias or the gold-...
The belief that the Fed’s QE (Quantitative Easing) does not directly boost the US money supply remains popular, even though it is obviously wrong. This is remarkable. It’s even more remarkable, however, that this wrongheaded belief is...

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The term “carat” comes from “carob seed,” which was standard for weighing small quantities in the Middle East.