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Tag Archives: central banks
Weekly Commentary: Central Banker to the World
Weekly Commentary: Central Banker to the World July 11 – Bloomberg (Rich Miller): “Federal Reserve Chairman Jerome Powell is starting to sound a bit like he’s the world’s central banker. In Congressional testimony this week, he repeatedly cited a slower global economic expansion in laying out the case for easier U.S. monetary policy. ‘There’s something […]
How Long Can Artificially Low Interest Rates be Maintained?
How Long Can Artificially Low Interest Rates be Maintained? QUESTION: Dear Martin, First let me thank you for your paradigm shifting blog and the incredible conferences you and your team put together. They really are on a level all their own. As we approach the next turning points in the ECM it seems that there […]
The Four Dimensions of the Fake Money Order
The Four Dimensions of the Fake Money Order A Good Story with Minor Imperfections “If you don’t know where you are going, any road will get you there,” is a quote that’s oft misattributed to Lewis Carrol. The fact that there is ambiguity about who is behind this quote on ambiguity seems fitting. For our purposes […]
Distortion
Distortion This week we entered the Sell Zone as I called it last weekend. Overnight today $ES hit nearly 3004 and is currently 23 handles lower on the news that the latest NFP report beat while unemployment ticked slightly higher. Whether the sell is now in full swing or more highs are still to come is an […]
French Bond Yields Slide Below Zero, Hit All Time Record Lows
French Bond Yields Slide Below Zero, Hit All Time Record Lows Ten days ago when global bond yields tumbled amid renewed fears that the global economy was headed for a recession, we reported that a record $13 trillion in global sovereign debt was trading with a negative yield. And while we don’t have the latest numbers from […]
Europe Gives Up On Sound Money, Prepares To Join The Currency War
Europe Gives Up On Sound Money, Prepares To Join The Currency War Not so long ago, Europe seemed to have its financial house more-or-less in order. German government spending was actually falling. Industries that had been nationalized in the socialist 70s were being privatized. The European Central Bank – run by sound money advocate Jean-Claude […]
Inflation Chickens Will Come Home to Roost – Peter Schiff
Inflation Chickens Will Come Home to Roost – Peter Schiff Money manager Peter Schiff says all the money printing and debt explosion since the Great Recession comes with a huge downside. Schiff says, “All sorts of bad policies basically took place thanks to the monetary excesses applied by the world central banks, but now we […]
The Rise of the Shotgun Banknote Switch
The Rise of the Shotgun Banknote Switch Every decade or two, central banks replace their existing issue of banknotes with a new issue. The main reason they do this is to thwart counterfeiters, who by then will have started to get pretty good at duplicating the existing version. Central bankers have usually tried to make […]
What is Money?
What is Money? What is money? Although it might seem a straight-forward question, ‘what is money’ is a question which will return a wide variety of answers depending on who you ask. For something taken for granted and used by billions of people every day all over the planet, this is perhaps surprising. Ask a […]
Weekly Commentary: Rejoicing Central Banker Capitulation
Weekly Commentary: Rejoicing Central Banker Capitulation June 21 – Neel Kashkari, Minneapolis Fed president: “In the Federal Open Market Committee meeting that concluded on Wednesday of this week, I advocated for a 50-basis-point rate cut to 1.75% to 2.00% and a commitment not to raise rates again until core inflation reaches our 2% target on […]
Square Minus Zero
Square Minus Zero I intentionally start writing this mere minutes away from Fed chair Jay Powell’s latest comments. Intentionally, because the importance ascribed to those comments only means we have gotten so far removed from what capitalism and free markets are supposed to be about, that it’s pathetic. The comments mean something for rich socialists, […]
Bubble 3.0: A Blast From a Bubble Past
BUBBLE 3.0: A BLAST FROM A BUBBLE PAST “Although macroeconomic forecasting is fraught with hazards, I would not interpret the currently very flat yield curve as indicating a significant economic slowdown to come.”–BEN BERNANKE, Former Fed Chairman in a March 20, 2006 speech “It was popular to play down the significance of the inverted yield […]
IceCap: Every Fed Chair Has A Plan, Until…
IceCap: Every Fed Chair Has A Plan, Until… It’s Easy In the world of knitting, stitching and crocheting; threading the needle is easy. Line-up your thread, needle and a good cup of tea and you’re all set. In most other worlds – it can be tricky. If executed perfectly – threading the needle can be rewarding, exhilarating […]
The US Economy’s Dirty Secret
The US Economy’s Dirty Secret Relatively strong US growth amid sluggishness elsewhere is not what economics textbooks would predict. But persistently low interest rates and weak inflation bring multiple benefits to American firms and consumers, while the adverse impact of the global slowdown on US exports should not be overstated. SAN DIEGO – There is […]
