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The Next Financial Crisis Won’t Be Caused by Fraud: This Time Will Be Different
The Next Financial Crisis Won’t Be Caused by Fraud: This Time Will Be Different Extreme levels of debt and overvaluation characterize the entire global economy, and are not limited to any one nation or sector. Financial crises come in two flavors: fraud and credit-valuation over-reach. Fraud-based financial crises may differ in particulars, but they share […]
China & Buying Gold – Why?
China & Buying Gold – Why? QUESTION: Mr. Armstrong; I believe you said at the WEC in 2017 that central banks will diversify and increase their gold reserves going into the currency crisis coming in 2021. China has continued to increase its gold reserves. You would please update on that development. Thank you PK ANSWER: Central banks […]
Slowing Growth the Problem, Asset Appreciation the Solution?
Slowing Growth the Problem, Asset Appreciation the Solution? The Problem:The Fed and major central banks believe they are fighting a deflationary spiral battling ongoing misses to their inflation targets. But in truth their misguided policies are contributing to a depopulation spiral. They are forcing low interest rates that only exacerbate overcapacity for a consumer base among whom growth is fast decelerating. The cheap money is […]
Japanified World Ahead
Japanified World Ahead Losing DecadesToo Much, Too FastA $10 Trillion Federal Reserve Balance SheetMastering Private MarketsLiving on Puerto Rico Time Regular readers may have noticed me slowly losing confidence in the economy. Your impression is correct and there’s a good reason for it, as I will explain today. The facts have changed so my conclusions […]
World Trade Suffers Biggest Collapse Since Financial Crisis
World Trade Suffers Biggest Collapse Since Financial Crisis The recent collapse in world trade volume is the worst since the financial crisis and as dangerous as during the dot-com bubble of the early 2000s, according to The Telegraph. Data from the CPB Netherlands Bureau for Economic Policy Analysis revealed that world trade volume dropped 1.8% in the three […]
Slowing Growth the Problem, Asset Appreciation the Solution?
Slowing Growth the Problem, Asset Appreciation the Solution? The Problem:The Fed and major central banks believe they are fighting a deflationary spiral battling ongoing misses to their inflation targets. But in truth their misguided policies are contributing to a depopulation spiral. They are forcing low interest rates that only exacerbate overcapacity for a consumer base among whom growth is fast decelerating. The cheap money is […]
‘High’ Oil Prices Are Already Dampening Demand
‘High’ Oil Prices Are Already Dampening Demand Crude oil prices are affecting demand for the commodity negatively, the International Energy Agency’s head Fatih Birol told S&P Global Platts in an interview. “The higher oil price environment may, if they stay around this level, also have an impact…put some downward pressure under demand growth,” Birol said. The […]
No Fix for Recession: Without a Financial Crisis, There’s No Central Bank Policy Fix
No Fix for Recession: Without a Financial Crisis, There’s No Central Bank Policy Fix There are no extreme “fixes” to secular declines in sales, profits, employment, tax revenues and asset prices. The saying “never let a crisis go to waste” embodies several truths worth pondering as the stock market nears new highs. One truth is that […]
World Bank criticised for coal, oil and gas funding
World Bank criticised for coal, oil and gas funding While the influential development bank has scaled up clean energy finance, fossil fuels are still getting a larger share of support, campaigners found The World Bank is supporting the controversial Trans Anatolian Pipeline gas project (Pic: Tanap) The World Bank Group faces criticism for continuing to […]
Chapter 7: Secrets, Ignorance and Lies: Money, Credit and Debt
CHAPTER 7: SECRETS, IGNORANCE AND LIES: MONEY, CREDIT AND DEBT. “The tyranny of fraud is not less oppressive than that of force.” John Taylor of Caroline, Virginia (1814). Our money system relies on people not understanding it. If people understood it, they would demand reform.[1] The most outrageous falsehoods are propagated daily about money and banking. […]
Turkey & the Real Risk of a Debt Crisis
Turkey & the Real Risk of a Debt Crisis The Treasury and Finance Ministry of Turkey announced that the country’s net external debt stock totaled $286.2 billion going into the end of the 3rd quarter of 2018. The country’s net external debt stock to its gross domestic product (GDP) ratio was 34.4% at the end of […]
The World-Wide Suppression of Interest Rates Has Been Something Very Near to a Crime
The World-Wide Suppression of Interest Rates Has Been Something Very Near to a Crime James Grant, editor of the renowned investment newsletter «Grant’s Interest Rate Observer», warns about the growing herd of corporate «zombies» and other fatal market distortions caused by modern monetary policy. Once again, the expedition to go back to normal has been […]
