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Tag Archives: risk
Risk, double-edged swords and imagining the worst
Risk, double-edged swords and imagining the worst A friend of mine recently said that intellectual honesty often requires imagining the worst. Of course, in the study of climate change and natural resources one needs only to read the analyses of scientists to imagine the worst. Imagining the worst in not necessarily the same as believing the […]
Peak Oil & System Justification: “Threatening” Status Quo
Peak Oil & System Justification: “Threatening” Status Quo It’s a lot easier to seek confirmation than information. So not only does the online world provide less information, it provides more spin and distortion of that information from an online empire of advocates that enables us as never before to find the voices we agree with, and […]
Cashless Society – Risks Posed By The War On Cash
Cashless Society – Risks Posed By The War On Cash Cash is the new “barbarous relic” according to many central banks, regulators, and some economists and there is a strong, concerted push for the ‘cashless society’. Developments in recent days and weeks have highlighted the risks posed by the war on cash and the cashless society. […]
Sorry, Central Banks: Risk and Volatility Cannot be Extinguished
Sorry, Central Banks: Risk and Volatility Cannot be Extinguished Central bank market intervention doesn’t extinguish risk–it simply transfers it to the system itself. The unspoken claim of central bank policy is that risk can be extinguished by intervention/manipulation: once the Fed has your back, i.e. is supporting the market, risk disappears, and the easy profits flow to […]
Former Treasury Secretary says banks may be riskier now than in the 2008 crisis
Former Treasury Secretary says banks may be riskier now than in the 2008 crisis “Sir. SIR! This your bag,” the TSA agent barked at me last week, more as a statement than a question. “It is.” “Are you carrying any liquids?” I knew immediately; I had forgotten about the bottle of water that I had […]
Negative Interest Rates and the War on Cash (1)
Negative Interest Rates and the War on Cash (1) Irving Underhill City Bank-Farmers Trust Building, William & Beaver streets, NYC 1931 It’s been a while, but Nicole Foss is back at the Automatic Earth -which makes me very happy-, and for good measure, she starts out with a very long article. So long in fact that […]
Are We Living In “A Riskless World”, Deutsche Asks
Are We Living In “A Riskless World”, Deutsche Asks Two weeks ago, when looking at the performance of bank stocks, Deutsche Bank’s Oleg Melentyev noticed that the ongoing collapse in US bank stocks relative to the change in the S&P from all time highs was starting to hint at patterns last seen just before the […]
It Takes a Village to Maintain a Dangerous Financial System
It Takes a Village to Maintain a Dangerous Financial System Abstract: I discuss the motivations and actions (or inaction) of individuals in the financial system, governments, central banks, academia and the media that collectively contribute to the persistence of a dangerous and distorted financial system and inadequate, poorly designed regulations. Reassurances that regulators are doing […]
“Markets Have No Purpose Any More” Mark Spitznagel Warns “Biggest Collapse In History” Is Inevitable
“Markets Have No Purpose Any More” Mark Spitznagel Warns “Biggest Collapse In History” Is Inevitable After making over $1 billion in one day last August, and warning that “the markets are overvalued to the tune of 50%,” Mark Spitznagel knows a thing or two about managing tail risk. The outspoken practitioner of Austrian economic philosophy tells The […]
If Geography and Demographics Are Destiny, Who Will Be the Winners and Losers in 2025?
If Geography and Demographics Are Destiny, Who Will Be the Winners and Losers in 2025? Owning any asset in poorly positioned nations is an inherently risky bet going forward. The dictum “demographics is destiny” proposes that all the complexities of finance, society and politics are ultimately guided by demographics: the relative size of each generation, birth […]
Why Real Reform Is Now Impossible
Why Real Reform Is Now Impossible The endless bleating of well-paid pundits in the corporate media about “reform” is just more circus. It’s difficult for well-meaning pundits to abandon the fantasy that meaningful reform is possible. Indeed, a critical function of the punditry and corporate media is to foster the fantasy that the status quo could […]
Gold – The Best Defense Strategy
Gold – The Best Defense Strategy The War on Cash is on! If you are used to making visits to your bank to make your credit card payments, you may find this no longer an option in the future. Some banks are no longer accepting (or limiting their acceptance) of cash deposits. The war on […]
Going Into Debt to Invest Into Debt…
Going Into Debt to Invest Into Debt… Bankers Hate It When You Hold Cash In an extraordinary turn of events, last week we were contacted by our local bankers. Since we were turned down for a mortgage in 1982 (our business finances were thought to be “too shaky”), we have had little truck with them. We pay […]
Danish Central Bank Warns Of “Risk Illusion”, Fears “Fire Sale” Plunge In Asset Prices
Danish Central Bank Warns Of “Risk Illusion”, Fears “Fire Sale” Plunge In Asset Prices Having slashed rates below zero and unleashed various rounds of asset-purchases, the Riksbank (Denmark’s central bank) recently warned the rest of the world that “we have reached the limits of monetary policy.” Now, however, Denmark’s Systemic Risk Council has raised the financial system warning […]
Diversify Into Gold As An “Insurance Policy” Against Geopolitical Risk
Diversify Into Gold As An “Insurance Policy” Against Geopolitical Risk “Investors could be forgiven for heading for the hills given the tumultuous start to 2016,” so writes Andrew Oxlade in The Telegraph today who advises investors to diversify into gold as an “insurance policy”: We have long been advocates of exposure to gold as an insurance policy. […]
