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Tag Archives: currency devaluation
Historical lessons in prosperity vs. poverty
Historical lessons in prosperity vs. poverty As the grandson of Genghis Khan, Kublai Khan had a lot to prove. So he set his eyes on the biggest prize in the known world at the time: southern China. Kublai Khan completed his conquest of China in 1279, forging a new empire and creating the Yuan dynasty. […]
Cash-Strapped Iraq Drastically Devalues Dinar As Fears Of Nationwide Unrest Grow
Cash-Strapped Iraq Drastically Devalues Dinar As Fears Of Nationwide Unrest Grow According to the latest IMF forecasts, Iraq’s GDP will contract 12% this year, more than that of any other OPEC member under a production quota. A global pandemic-induced demand slump (among other domestic issues) has pushed Iraq – under its OPEC membership – to slash oil production […]
“In America Money Does Grow on Trees”
“In America Money Does Grow on Trees” Full Commitment This week provided additional confirmation that America is fully committed to a program of currency destruction. Decades of terminal intelligence have gotten us to this special place. We will have more on this in a moment. But first some words on being fully committed. Say hello […]
Mauldin: We Are On The Brink Of The Second “Great Depression.”
Mauldin: We Are On The Brink Of The Second “Great Depression.” You really need to watch this video of a recent conversation between Ray Dalio and Paul Tudor Jones. Their part is about the first 40 minutes. In this video, Ray highlights some problematic similarities between our times and the 1930s. Both feature: a large wealth gap the […]
FIAT CURRENCY ENDGAME: You Will Not Like This ONE BIT!
FIAT CURRENCY ENDGAME: You Will Not Like This ONE BIT! No One Comes Back From This Uninjured. In one word, the devaluation is set to ESCALATE. In fact, I term it Competitive Devaluation. There are several countries that will be the pioneers of it, but it will eventually reach the United States of America. In Europe and in Japan, […]
Suffering the Profanity of Plentiful Cheap Money
Suffering the Profanity of Plentiful Cheap Money What if the savings in your bank account lost 55 percent of its value over the last 12 months? Would you be somewhat peeved? Would you transfer some of your savings to another currency? That was the favored approach in Argentina – where the official inflation rate’s 55 […]
Peter Schiff Compares Trade War to “Battle at Little Bighorn”
Peter Schiff Compares Trade War to “Battle at Little Bighorn” Political commentators are increasingly critical of U.S. trade policy, particularly tariffs and the trade war with China. Radio host Peter Schiff went so far as to compare U.S. trade policies to General Custer and the Battle of Little Bighorn. Meanwhile, some economic red flags seem to support […]
Powell Rate Cut Unleashes Volatility Tsunami
Powell Rate Cut Unleashes Volatility Tsunami It wasn’t supposed to work this way. In the rate cut playbook envisioned by Trump, Powell’s July 31st rate cut was supposed to send stocks higher while crushing the dollar. However, when the FOMC announce a “mid-cycle”, 25bps cut, the outcome was not only a surge in the dollar […]
Hyperinflation is Becoming Common in The 21st Century
Hyperinflation is Becoming Common in The 21st Century How destructive is hyperinflation? To quote economist Thomas Sowell, “Hyperinflation can take virtually your entire life’s savings, without the government having to bother raising the official tax rate at all.” A number of countries are currently experiencing the destructive effects of hyperinflation. With the Venezuelan Bolivar at […]
Blain: European Banks Are The Most Successful Ponzi Scheme Of All Time
Blain: European Banks Are The Most Successful Ponzi Scheme Of All Time “Lenin was right. There is subtler, no surer means of overturning the existing basis of society than to debauch the currency.” I must post this line from one of my favourite Financial sector commentaries – Duncan Farr of Jeffries who covers banks: “Here we […]
Weekly Commentary: “Whatever They Want” Coming Home to Roost
Weekly Commentary: “Whatever They Want” Coming Home to Roost Let’s begin with global. China’s yuan (CNY) traded to 6.9644 to the dollar in early-Friday trading, almost matching the low (vs. dollar) from December 2016 (6.9649). CNY is basically trading at lows going back to 2008 – and has neared the key psychological 7.0 level. CNY […]
“What A Disaster”: Chaos Returns To Venezuela One Day After Massive Devaluation
“What A Disaster”: Chaos Returns To Venezuela One Day After Massive Devaluation Just one day after Venezuela’s historic currency devaluation, which lopped off 5 zeros from the currency and prices while bizarrely pegging the “sovereign Bolivar” – the country’s latest currency incarnation – to the petro, an oil-backed cryptocurrency (which has been banned by the […]
Venezuela In Chaos After Maduro Announces Massive 95% Devaluation, New FX Rate Tied To Cryptocurrency
Venezuela In Chaos After Maduro Announces Massive 95% Devaluation, New FX Rate Tied To Cryptocurrency Chaos and confusion erupted across Venezuela, and most stores were shuttered on Saturday, after president Nicolas Maduro announced that the government would enact a massive currency devaluation, implement a new minimum wage, hike taxes, and also raise gasoline prices for […]
“Virtually Everybody Knew This Was Coming”
“Virtually Everybody Knew This Was Coming” Was it Turkey’s “executive presidency” and its unwillingness to hike rates in the face of soaring inflation? Or maybe the record global debt accumulated over the past decade? Maybe the artificially low interest rates? Or perhaps it was the pervasive current account deficits amid easy outside capital. How about […]
