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Record Deficits, Stronger Dollar Equals Record China Trade Deficit
Record Deficits, Stronger Dollar Equals Record China Trade Deficit Sometimes math is a real bitch. Donald Trump is a smart guy. I know he knows math. Too bad he’s ignoring it. Here’s the gig. The title says it all. Government spending is rising rapidly. More actual money is flowing into the US economy. Where is that […]
Congressman Alex Mooney’s Bill Defines the Dollar as a Unit of Gold
Congressman Alex Mooney’s Bill Defines the Dollar as a Unit of Gold This story came out in March, but I just now caught it. I salute Mooney for wording the legislation correctly. Please consider House Bill HR5404 Defines New Dollar Gold Standard. HR 5404 A bill to define the dollar as a fixed weight of […]
US Dollar Hegemony Tripped Up by Chinese Renminbi?
US Dollar Hegemony Tripped Up by Chinese Renminbi? Um, no. Central banks not enthusiastic about the renminbi. Global central banks are not dumping US-dollar-denominated assets from their foreign exchange reserves. They’re not dumping euro-denominated assets either. And they remain leery of the Chinese renminbi – despite China’s place as the second largest economy in the […]
Has the PBoC deliberately weakened CNY as part of the trade war?
Has the PBoC deliberately weakened CNY as part of the trade war? It has been another trade war week, as the market has been looking for clues on the Chinese retaliation measures against the Trump tariffs that are planned to go live on 6 July. Global trade momentum started to weaken even before the trade […]
We’re Gonna Need A Bigger Bailout – Argentine Peso Plummets To New Record Low
We’re Gonna Need A Bigger Bailout – Argentine Peso Plummets To New Record Low The Argentine Peso collapsed again today – plummeting below last week’s record low to 29/USD. Desk chatter suggests that no one turned up this morning as the central bank announced it would increase its daily spot auctions to USD150mn on Thursday […]
Donald of Arabia, Oil Sanction Idiocy: Another Oil Shock Coming
Donald of Arabia, Oil Sanction Idiocy: Another Oil Shock Coming I did not believe Trump would be so foolish as to force the entire world to accept Iranian sanctions. I was wrong. Here’s my general policy: When you are wrong, it’s best to admit it or someone will admit it for you, in a worse […]
China Has Quietly Implemented A 6% Across The Board ‘Tariff’ On All US Imports
China Has Quietly Implemented A 6% Across The Board ‘Tariff’ On All US Imports Trump and Xi have spent much of the last few weeks tossing tariff grenades across the Pacific Ocean as retaliatory retaliations grow ever stronger in rhetoric and potential escalations. Then this week, Trump seemed to back away from his most serious […]
Legendary Global Investor Warns Of Frightening Recession: “We Don’t Have Any Stabilizers Left”
Legendary Global Investor Warns Of Frightening Recession: “We Don’t Have Any Stabilizers Left” Key asset markets in the United States have reached extremely overbought levels, including everything from stocks to real estate. And while most Americans are feeling positive about economic growth in the near-term, legendary global investor Paul Tudor Jones cautions that the long-term […]
The Federal Reserve: Public Enemy Number One
The Federal Reserve: Public Enemy Number One When currency was backed by gold, a central bank’s main function was to maintain the value of the issued currency in terms of gold. For example, if a central bank created too much money against the gold reserves in the banking system, an increasing number of people would […]
America Loses When The Trade War Becomes A Currency War
America Loses When The Trade War Becomes A Currency War There has been a longstanding narrative in economic circles that no matter what crisis occurs the U.S. dollar is essentially invincible. I have never been one to buy into this assumption. Reason 1: Because I remember distinctly just before the derivatives and credit crisis in […]
The Geostrategy That Guides Trump’s Foreign Policies
The Geostrategy That Guides Trump’s Foreign Policies According to Alastair Crooke, writing at Strategic Culture, on June 5th: “Trump’s US aims for ‘domination’, not through the globalists’ permanent infrastructure of the US defence umbrella, but through the smart leveraging of the US dollar and financial clearing monopoly, by ring-fencing, and holding tight, US technology, and by […]
“Dollar Is King”: Indonesia Joins India In Begging Fed To Stop Shrinking Its Balance Sheet
“Dollar Is King”: Indonesia Joins India In Begging Fed To Stop Shrinking Its Balance Sheet It’s getting a little tight around the neck for emerging market central bankers. On the same day that the governor of Malaysia’s central bank quit, and just days after Urjit Patel, governor of the Reserve Bank of India, took the […]
Central Banker Observes Sudden “Evaporation” Of Dollar Funding, Warns Of Global Turmoil
Central Banker Observes Sudden “Evaporation” Of Dollar Funding, Warns Of Global Turmoil Last October, just as the Fed started shrinking its balance sheet, we published yet another article on what is arguably the biggest threat to not only risk assets, but also the global economy: “The Dollar Funding Shortage: It Never Went Away And It’s […]
De-Dollarization Escalates: “African Economy Needs More Usage Of Chinese Yuan”
De-Dollarization Escalates: “African Economy Needs More Usage Of Chinese Yuan” The world’s push towards de-dollarization continues to accelerate as Americans go about their daily lives worrying more about blasphemous comedians, participation trophies, and Kim and Kanye’s traitorous behavior. From yuan-denominated oil futures (and soon to be yuan-denominated metals contracts) to Europe’s decision to use Yuan […]
The “Axis of Gold” Just Got Stronger
The “Axis of Gold” Just Got Stronger As you probably know by now, President Trump backed out of the nuclear deal with Iran and is re-imposing harsh sanctions. And just this morning, Trump announced that he’s canceling the much-anticipated nuclear summit with North Korean leader Kim Jong Un because of Kim’s recent belligerent comments. What […]
