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Why a bear market will lead to a dollar collapse
Why a bear market will lead to a dollar collapse Falling equity markets this week are likely to signal the onset of a bear market, responding to a combination of the coronavirus spreading beyond China and persistent indications of a developing recession. This has provoked a flight into US Treasuries, with the ten-year yield falling […]
Coronavirus and credit – a perfect storm
Coronavirus and credit – a perfect storm This article posits that the spread of the coronavirus coincides with the downturn in the global credit cycle, with potentially catastrophic results. At the time of writing, analysts are still trying to get to grips with the virus’s economic impact and they commonly express the hope that after […]
A History of Inflationary Money: From 1844 to Nixon
A History of Inflationary Money: From 1844 to Nixon So that we can understand the financial and banking challenges ahead of us, this article provides an historical and technical background. But we must first get an important definition right, and that is the cause of the periodic cycle of boom and bust. The cycle of […]
America’s trade policy will end up destroying the dollar
America’s trade policy will end up destroying the dollar America’s tariffs against China are already showing signs of undermining the global economy and will create a funding crisis for the Federal Government when it leads to foreigners no longer buying US Treasury debt and selling down their existing dollar holdings. A subversive attempt by America […]
Plans for a global Dystopia
Plans for a global Dystopia Global policy planners intend to deliver replacements for both dollar hegemony and fossil fuels. Plans may appear uncoordinated and in their early stages, but these issues are becoming increasingly linked. A monetary reset incorporating state-sponsored cryptocurrencies will enable exchange controls to be introduced between nations by separating cross-border trade payments […]
The monetary lessons from Germany
The monetary lessons from Germany Germany suffered two currency collapses in the last century, in 1920-23 and1945-48. The architect of the recovery from the former, Hjalmar Schacht, chose to cooperate with the Nazi successors to the Weimar Republic, and failed. In that of the second, Ludwig Erhard remained true to his free market credentials and […]
Central Bank “Stimulus” is Really a Huge Redistribution Scheme
Central Bank “Stimulus” is Really a Huge Redistribution Scheme When an economy turns from expansion to contraction there is an order of events. The first signs are an unexpected increase in inventories of unsold goods, both accompanied with and followed by business surveys indicating a general softening in demand. For monetarists, this is often confirmed […]
Monetary failure is becoming inevitable
Monetary failure is becoming inevitable This article posits that there is an unpleasant conjunction of events beginning to undermine government finances in advanced nations. They combine the arrival of a long-term trend of rising welfare commitments with an increasing certainty of a global-scale credit crisis, in turn the outcome of a combination of the peak […]
An Inflationary Depression
An Inflationary Depression Financial markets are ignoring bearish developments in international trade, which coincide with the end of a long expansionary phase for credit. Both empirical evidence from the one occasion these conditions existed in the past and reasoned theory suggest the consequences of this collective folly will be enormous, undermining both financial asset values […]
The Ghost of Failed Banks Returns
THE GHOST OF FAILED BANKS RETURNS Last week’s failure in the US repo market might have had something to do with Deutsche Bank’s disposal of its prime brokerage to BNP, bringing an unwelcome spotlight to the troubled bank and other foreign banks with prime brokerages in America. There are also worrying similarities between Germany’s Deutsche […]
