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Emerging Markets: Nothing New Under the Sun
Emerging Markets: Nothing New Under the Sun “That which has been is that which will be, and that which has been done is that which will be done. So there is nothing new under the sun.” Ecclesiastes 1:9 The events overtaking Argentina and Turkey in recent months are textbook cases of an emerging market crisis. […]
As Emerging Market Currencies Collapse, Gold is being Mobilized
As Emerging Market Currencies Collapse, Gold is being Mobilized In recent weeks, global financial markets have been increasingly spooked by an intensifying crisis in emerging market currencies including those of Turkey and Argentina. Add to this the ongoing currency crisis in Venezuela and the currency problems of Iran. While all of these countries have economy […]
Dethroning the King: Five ways Trump could weaken the dollar
Dethroning the King: Five ways Trump could weaken the dollar Can President Trump instruct the US Treasury to intervene in FX markets and weaken the dollar? Twelve months ago, we wouldn’t have even considered this question. But under this new mercantilist US regime, who knows? We identify five ways in which Washington could try to engineer a weaker […]
Erdogan Vows To Abandon Dollar, “Doesn’t Need Permission” To Buy Russian Missiles
Erdogan Vows To Abandon Dollar, “Doesn’t Need Permission” To Buy Russian Missiles Another day, another angry rant by Turkish President Recep Tayyip Erdogan aimed at the US, who on Sunday vowed Ankara would abandon the dollar in transactions with Russia and other countries, accusing the US of behaving like “wild wolves.” “America behaves like wild […]
Which Emerging Markets Will Run Out Of Money First: Here Is The Answer
Which Emerging Markets Will Run Out Of Money First: Here Is The Answer For years, in fact for the duration of the US dollar’s use as a global carry currency, Emerging Markets – especially those with a currency peg – were a welcome destination for yield starved US investors who found an easy source of […]
Loonie Slides As Canadian Officials Reportedly Doubt NAFTA Deal Will Get Done
Loonie Slides As Canadian Officials Reportedly Doubt NAFTA Deal Will Get Done Despite outwardly optimistic appearances from Canada’s Freeland, talks between Canadian and U.S. trade negotiators reportedly turned sour last night and Trudeau government officials are now expressing concern that a final NAFTA deal will not be concluded on Friday. “That was a long, intensive […]
These 4 Charts Show How World Trade Has Collapsed In Just One Year
These 4 Charts Show How World Trade Has Collapsed In Just One Year Lately, nothing seems able to shake Wall Street’s bullish attitude. Investors and the mainstream continue to still ignore the worsening trade war – which is evolving into a currency war – with China. But since early May – we at Palisade have […]
Economic Crisis Looms In Iran As Sanctions Bite
Economic Crisis Looms In Iran As Sanctions Bite In a little over two months, painful U.S. sanctions on Iran’s oil sector will take effect, but the Iranian economy is already showing signs of strain. Iran’s currency, the rial, has fallen by more than half since the start of the year. There is now a thriving […]
Iran Sanctions, Emerging Markets And The End Of Dollar Dominance
Iran Sanctions, Emerging Markets And The End Of Dollar Dominance The trade war is a rather strange and bewildering affair if you do not understand the underlying goal behind it. If you think that the goal is to balance the trade deficit and provide a more amicable deal for U.S. producers on the global market, […]
Is China Losing Control? Yuan More Volatile Than Euro For First Time Ever
Is China Losing Control? Yuan More Volatile Than Euro For First Time Ever For the first time, FX traders are grappling with wilder swings from China than Europe. As Bloomberg notes, the offshore yuan has been more volatile than the euro all month after first overtaking the shared currency in July, according to 30-day realized data. And while euro […]
Turkey’s Crisis and the Dollar’s Future
Turkey’s Crisis and the Dollar’s Future Last week’s collapse of the Turkish lira has dominated the headlines, and it is widely reported that this and other emerging market currencies are in trouble because of the withdrawal of dollar liquidity. There are huge quantities of footloose dollars betting against these weak currencies, as well as commodities […]
Weaponizing the US Dollar Is Accelerating Global De-Dollarization
Weaponizing the US Dollar Is Accelerating Global De-Dollarization Donald Trump has in just over two years abandoned the Trans-Pacific Partnership (TPP), ditched the Transatlantic Trade and Investment Partnership (TTIP), withdrawn the US from the Paris climate agreement, and unilaterally removed American participation in the Iranian nuclear agreement known as the Joint Comprehensive Plan of Action […]
Is Germany Moving SWIFT-ly To CIPS?
Is Germany Moving SWIFT-ly To CIPS? We have detailed how Russia and China have developed independent global payment systems that run parallel to the dollar based SWIFT system. We recently discussed how sanctions against Russia were actually “crushing the American empire“. The dollar based system is now obsolete and the entire world is questioning why […]
The Weaponization of the Dollar
The Weaponization of the Dollar The Uncivil Civil War discussed the sanguine approach many investors take towards equity risk despite clear signs of domestic political turbulence. The article put the upcoming elections and the growing political divisions amongst the populace into context with market risks. While we read plenty of politically related articles and many […]
Did Russia Really Dump Its U.S. Debt?
DID RUSSIA REALLY DUMP ITS U.S. DEBT? Russia dumped 84% of its American debt,” blared a July CNN headline. Russian central-bank head Elvira Nabiullina said the sales were just part of “diversifying the entire structure of currencies.” But with the U.S. dollar accounting for two-thirds of global foreign-exchange reserves and most (non-intra-eurozone) international trade, dumping this much dollar debt […]
