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The Numbers Are In: China Dumps A Record $94 Billion In US Treasurys In One Month
The Numbers Are In: China Dumps A Record $94 Billion In US Treasurys In One Month Shortly after the PBoC’s move to devalue the yuan, we noted with some alarm that it looked as though China may have drawn down its reserves by more than $100 billion in the space of just two weeks. That, we went on […]
Future of War and Peace at Stake in Streets of Japan
Future of War and Peace at Stake in Streets of Japan The United States and its European allies have launched wars on the Middle East that have created an enormous refugee crisis. The same nations are threatening Russia. The question of maintaining peace with Iran is on the tip of everyone’s tongue. Even in Asia […]
The IMF Just Confirmed The Nightmare Scenario For Central Banks Is Now In Play
The IMF Just Confirmed The Nightmare Scenario For Central Banks Is Now In Play The most important piece of news announced today was also, as usually happens, the most underreported: it had nothing to do with US jobs, with the Fed’s hiking intentions, with China, or even the ongoing “1998-style” carnage in emerging markets. Instead, […]
Unusually Massive Protests Erupt in Japan Against Forthcoming “War Legislation”
Unusually Massive Protests Erupt in Japan Against Forthcoming “War Legislation” In case you aren’t up to speed on your Japanese history, the nation’s post WWII Constitution prohibits military action unless it’s in self-defense. Clearly a sensible approach, which is why the current Japanese government, led by the demonstrably insane and incompetent Prime Minister Shinzo Abe, wants […]
It’s easy to deny a bubble but impossible to deny its implosion.
It’s easy to deny a bubble but impossible to deny its implosion. We’re having the kind of day when the New York Stock Exchange felt compelled toannounce very encouragingly before markets opened that it would halt trading for 15 minutes if the S&P 500 drops 7% to 1,833 before 3:25 p.m. Once trading restarts and the index plunges 13% […]
Fukushima: Thousands Have Already Died, Thousands More Will Die
Fukushima: Thousands Have Already Died, Thousands More Will Die Official data from Fukushima show that nearly 2,000 people died from the effects of evacuations necessary to avoid high radiation exposures from the disaster. The uprooting to unfamiliar areas, cutting of family ties, loss of social support networks, disruption, exhaustion, poor physical conditions and disorientation can and […]
The Federal Reserve – Which CREATED Quantitative Easing – Admits QE Doesn’t Work
The Federal Reserve – Which CREATED Quantitative Easing – Admits QE Doesn’t Work Even the Fed Admits QE Doesn’t Work The Vice President of the Federal Reserve Bank of St Louis (Stephen Williamson) writes in a new Fed white paper (as explained by Zero Hedge): The theory behind Quantitative Easing (QE) is “not well-developed” The evidence in support […]
Can Kickers United—–Why It’s Getting Downright Hazardous Out There
Can Kickers United—–Why It’s Getting Downright Hazardous Out There It’s getting downright hazardous out there, and not just because the robo-machines were slamming the “sell” key today. The real danger comes from the loose assemblage of official institutions which claim to be running the world. They might better be referred to as “can kickers united.” It is now blindly obvious that they have lapsed into […]
Will Japan Win the Darwin Award?
Will Japan Win the Darwin Award? Japan Re-Starts Nuclear Plan Near Active Volcano We reported last October: Scientists warned that an earthquake could take out Fukushima. The Japanese ignored the warning … and even tore down the natural seawall which protected Fukushima from tidal waves. Fukushima is getting worse. And see this and this. Have the Japanese learned their lesson? Are they […]
Asian Currency Crisis Continues As China Holds, Malaysia Folds, & Japan Heads For Quintuple Dip Recession
Asian Currency Crisis Continues As China Holds, Malaysia Folds, & Japan Heads For Quintuple Dip Recession Asia got off to an inauspicious start this evening with Japan printing a disappointing 1.6% drop in GDP – heading for its fifth recession in 6 years… so much for Abenomics, but, of course, Amari spewed forth some standard propaganda that […]
Bad Timing: Japan Opens First Nuclear Plant Since Fukushima As Neighboring Volcano Erupts
Bad Timing: Japan Opens First Nuclear Plant Since Fukushima As Neighboring Volcano Erupts In case last week’s deadly chemical explosion in the Chinese port of Tianjin wasn’t enough to satisfy your thirst for black swan-ish disasters that could serve to accelerate the ongoing global currency wars, Japan is now warning that Sakurajima, one of the country’s most […]
Deleveraging as a Biblical Plague
Deleveraging as a Biblical Plague Eventful days in the middle of summer. Just as the Greek Pandora’s box appears to be closing for the holidays (but we know what happens once it’s open), and Europe’s ultra-slim remnants of democracy erode into the sunset, China moves in with a one-off but then super-cubed renminbi devaluation. And […]
Both ECB And BOJ Warn More QE May Be Response To Chinese Currency War
Both ECB And BOJ Warn More QE May Be Response To Chinese Currency War Minutes from the ECB’s most recent policy meeting reveal that Mario Draghi and company have a number of concerns about the pace of economic growth in the euroarea and about the outlook for inflation which, much to the governing council’s surprise, […]
This Is What Global Currency War Looks Like: A Complete History Of Recent FX Interventions
This Is What Global Currency War Looks Like: A Complete History Of Recent FX Interventions After the dramatic collapse in the SNB’s defense of the Swiss Franc peg to the Euro, there was a period of relative FX peace in which few if any central banks engaged in outright currency intervention (aside from the countless […]
