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US Dollar Refuses to Die as Global Reserve Currency — But Loses Ground
US Dollar Refuses to Die as Global Reserve Currency — But Loses Ground Chinese RMB gains, but is inconsequential as central banks remain leery. Euro hangs on. Those who’re eagerly awaiting the end of the “dollar hegemony,” or the end of the dollar as the top global reserve currency, well, they’ll need some patience, because […]
As The Trade War Rages – China Won’t Be Held Hostage By The U.S. Dollar
As The Trade War Rages – China Won’t Be Held Hostage By The U.S. Dollar In last week’s Palisade Weekly Letter, I wrote about how the Chinese are now selling their U.S. debt. And since this was an important write-up, I also published it as an article – so if you missed it, click here. […]
Global Central Bank Buying Puts A Floor Under The Price of Gold
Global Central Bank Buying Puts A Floor Under The Price of Gold The only reason the price of gold’s down on the year is because of a strong dollar. Actually – for how much the dollar’s rallied this year, gold holding around the $1,200 range is very bullish. And if gold’s been able to hold […]
Europe Unveils “Special Purpose Vehicle” To Bypass SWIFT, Jeopardizing Dollar’s Reserve Status
Europe Unveils “Special Purpose Vehicle” To Bypass SWIFT, Jeopardizing Dollar’s Reserve Status In a stunning vote of “no confidence” in the US monopoly over global payment infrastructure, one month ago Germany’s foreign minister Heiko Maas called for the creation of a new payments system independent of the US that would allow Brussels to be independent […]
The Dollar Shortage & China’s Bond Selling Are About To Corner the Fed
The Dollar Shortage & China’s Bond Selling Are About To Corner the Fed Earlier this week – news went by relatively unnoticed by the ‘mainstream’ financial media (CNCB and such) that Beijing’s started selling their U.S. debt holdings. Putting it another way – they’re dumping U.S. bonds. . . “China’s ownership of U.S. bonds, bills and notes slipped to […]
Iran Sanctions Are Damaging The Dollar
Iran Sanctions Are Damaging The Dollar Painful sanctions on Iran have demonstrated the long reach of the U.S. Treasury, forcing much of the globe to fall in line and cut oil imports from Iran despite widespread disagreement over the policy. Yet, we are only in the first few chapters of what may ultimately be a […]
Dollar Dominant & Dangerous – System Not Stable – Catherine Austin Fitts
Dollar Dominant & Dangerous – System Not Stable – Catherine Austin Fitts Investment advisor and former Assistant Secretary of Housing, Catherine Austin Fitts, predicts the global financial system “will take some big hits before the end of the year.” Fitts explains, “Right now, economists say the dollar is ‘dangerous and dominant.’ It’s still, if you […]
Russia’s Eastern Economic Forum Wrap Up: De-Dollarization Tops Agenda
Russia’s Eastern Economic Forum Wrap Up: De-Dollarization Tops Agenda The Eastern Economic Forum (EEF) was held in Vladivostok on Sept.11-13. Founded in 2015, the event has become a platform for planning and launching projects to strengthen business ties in the Asia-Pacific region. This year, the EEF brought together delegations from over 60 countries to discuss […]
The Global 1% Is Destroying Democracy
The Global 1% Is Destroying Democracy Unraveling a web of dark money “Wherever you live in the world, you’ve been robbed. Not by a hidden bandit, but a global kleptocracy: the super-rich who’ve managed to rob the poor blind in every corner of the globe for the past seven decades.” — Michelle Chen We’re living in a time […]
Corporate Credit – A Chasm Between Risk Perceptions and Actual Risk
Corporate Credit – A Chasm Between Risk Perceptions and Actual Risk Shifts in Credit-Land: Repatriation Hurts Small Corporate Borrowers A recent Bloomberg article informs us that US companies with large cash hoards (such as AAPL and ORCL) were sizable players in corporate debt markets, supplying plenty of funds to borrowers in need of US dollars. […]
Emerging Market Debt Crisis – A Reality Check
Emerging Market Debt Crisis – A Reality Check QUESTION: Hello Martin … I follow emerging markets closely and one thing I note is that the size of the sovereign forex-denominated debt burdens are quite small relative to GDP except in the case of Argentina (48%). Everybody else, including Turkey and Indonesia) is 11% or less. […]
Peso, Rand Plummet As Emerging Market Crisis Deepens
Peso, Rand Plummet As Emerging Market Crisis Deepens The EM contagion is slamming currencies around the globe, and while the Turkish Lira remains relatively immune for the time being, traders are now focusing their attention on the South African rand and the Argentine peso, both of which are in freefall this morning. The ZAR has […]
Emerging Market Contagion Threatens Oil Market
Emerging Market Contagion Threatens Oil Market The emerging market currency crisis is not over yet, and could yet morph into a broader contagion that threatens to drag down oil demand. Last week, Argentina’s peso fell by around 20 percent in just a few days, taking year-to-date losses over 50 percent. The central bank frantically hiked […]
EM Rout Returns As Global Stocks Fade, Dollar Surges
EM Rout Returns As Global Stocks Fade, Dollar Surges With the US returning from holiday, US equity futures are flat from Friday’s close, while stocks in Europe slumped, reversing an early gain as Italian and Spanish bank shares faded and the major London, Frankfurt and Paris bourses faltered; this followed a mirror image in Asian price […]
