Commentary About Gold Silver Bullion Offshore Storage | SWP Cayman

Industry Commentary

Read commentary from industry experts and SWP's feature writers.

For the Following Author: Jeff Thomas

Jul 27, 2021

The above quote is from William Gouge, commenting on the Panic of 1819. The panic had been caused when the First Bank of the United States had first expanded the money supply dramatically by offering loans, then contracted the money supply by tightening its requirements for new loans, causing a crash. This is a useful quote, as, in its simplicity, it states the very nature of crashes brought on by irresponsible banking practices. In every case in which this occurs, it is possible through the complicity of the government of the day.

Jul 26, 2021

France, 1788. Russia, 1916. Germany, 1937. These dates have something in common. In France in 1788, political conditions had been getting questionable, but there was no apparent need to panic. That came the following year, with the sudden outbreak of the French Revolution. From that point on, it was dangerous even to go out in the streets of Paris. So many people had become enraged that, even if you were not a member of the aristocracy, you could easily become collateral damage. And so, it would have been wise if, in 1788, you had decided to pack your bags and remove yourself from the epicentre of what was developing.

Jul 15, 2021

Back in the ‘60’s, an interviewer asked the “King of Folk Music”, Bob Dylan what his goal in life was. Bob answered something to the effect of, “I want to make enough money to go to college, so one day I can be somebody.” Bob had a good sense of irony. And certainly, he was always more inclined to think outside the box than to follow the well-trodden path. That was part of what made him so interesting and part of what made him so successful. A similar sentiment was expressed in a song by his peer, Paul Simon: “When I think back on all the crap I learned in high school, it’s a wonder I can think at all.” In those days, just like today, the customary idea of success was that you attended university for a number of years, you received a degree, then you would be given a job where you could wear a necktie and receive a salary that had an extra zero behind it.

Jul 7, 2021

Most of us watch television. In part, we seek to be entertained, but, additionally, we often seek to be enlightened as to “what’s going on.” In a difficult era like the present one, in which some of the most prominent countries are experiencing the onset of an economic crisis, virtual cartoon characters are competing as choices in political contests, governments are becoming increasingly rapacious and a police state is developing rapidly, it’s not surprising if the average person questions, “What on earth are they thinking?”

Jun 29, 2021

Shortly after World War II in 1945, The USSR occupation began limiting the freedom of East Germans to travel into West Germany. At first, the restrictions were mild, much as we’re seeing in countries like the US today – more red tape, longer waits, etc. Not so much a ban on travel as a nuisance. Today, as in Germany in 1945, the would-be traveler is getting used to the idea of gaining approval to travel. Just a formality, folks, sorry for the inconvenience. But then, with little fanfare, East Germany was officially declared the German Democratic Republic. (GDR) and the prospect of international travel began to change. Emigration laws were tightened. A propaganda booklet published at that time read...

Jun 8, 2021

For some time, it’s been apparent that the former “free world” countries (the US, EU, Canada, Australia, Japan, etc.) have been on a downward progression - socially, politically and economically. But, in the last ten years, the awareness of this has become increasingly pronounced. With each successive year, more and more people recognise that all facets of life in these formerly great countries are heading in a decidedly negative direction. At this point, even those who don’t understand the decline intellectually, feel in their gut that this is not going to end well. Further, they feel it all around them and sense that when the condition becomes critical, it won’t just affect others. When it reaches the crisis stage, they’ll find it right on their own doorstep. The average person in each of these jurisdictions already no longer trusts either the media, big business or the government and feels that, somehow, they’re all in this together and that they, the electorate, will be the ones who will be the ultimate victims. So, is this a question of “collective imagination” gone haywire?

Jun 2, 2021

In 1944, the US had been the primary supplier for arms for the allies during World War II and, as such, exited the war with more wealth than any of the other nations that had entered the war earlier, draining their treasuries of money. Since payment was largely demanded in gold, the US held three-quarters of the world’s gold and therefore was in a position to call the shots with regard to the free world’s economic future.

May 24, 2021

Traditionally, inflation has been defined as “an increase in the amount of currency in circulation.” Such an increase almost always causes an increase in the cost of goods and services, since, more plentiful currency units lowers their rarity, as compared to the supply of goods and services, which remains roughly the same. Therefore, it shouldn’t be surprising if a 20% increase in the amount of currency units translates into a 20% increase in the price of goods and services. Unfortunately, in recent decades, even dictionaries have been offering a revised definition of inflation, as “An increase in the price of goods and services.” This is a pity, as it makes an already confusing subject, even more difficult to understand.

May 24, 2021

There are a growing number of websites out there that deal with the prospect of internationalisation. Many of these offer advice on destinations for those considering expatriation. This is a predictable and welcome development that reflects the times that we are in – times when some of the countries that were once regarded as "the best place in the world" are proving to be otherwise. Any advice to those who hope to expatriate must carry the assumption that the reader is actually able to pay for his internationalisation. But within that framework there is a great deal of diversity as to level of wealth. This may mean the difference between relocating to a relatively expensive jurisdiction, such as Hong Kong, and relocating to a relatively inexpensive jurisdiction, such as Belize.

May 17, 2021

Submission to the state is a time-honoured tradition, a concept supported by governing bodies since time immemorial. In days of yore, men submitted to whichever member of the tribe was the mightiest in battle. By doing so, they stood a better chance of succeeding in battle, thereby diminishing the likelihood of their own death or enslavement. Later on, as tribes became more tied to the land and communities sprang up, the idea of a strong leader still made sense. Not only might he do the best job of leading the protection of the town or village, he might also travel outside the community to attack other communities, bringing back spoils for all to benefit from. (Not too civilised, maybe, but still, the reasoning behind submission to the leader made sense.) Later, settlements grew larger and, increasingly, many villages and towns would find themselves joined together collectively, under a national banner, with a single army to protect them. And, again, the leader would most likely be a fierce and formidable warrior. But a significant change was taking place. Whilst the warrior leader was away (sometimes for years), invading other communities, it was necessary to have leadership at home – administrative leadership. Predictably, this leadership also sought the loyalty and submission of the people. There was a new wrinkle at this juncture as the administrative leadership did not have to prove itself repeatedly in battle to gain submission. It was expected merely due to the fact that the leaders held power over the people.

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