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Currency War Begins: Chinese Yuan Crashes Past 7 To New Record Low; Global Markets Tumble After Beijing Suspends US Agri Imports
Currency War Begins: Chinese Yuan Crashes Past 7 To New Record Low; Global Markets Tumble After Beijing Suspends US Agri Imports Update 3: The carnage from yuan volatility is starting to spread… Chinese bond yields are tumbling… Dow futures are down 300 points… S&P futures below 2900… UST yields are collapsing… And the yield curve […]
Russia Urges “Independence” From “Imposed World Order” Of US Financial System
Russia Urges “Independence” From “Imposed World Order” Of US Financial System Following Russia signalling last week, its willingness to join the controversial payments channel Instex – designed to circumvent both SWIFT as well as US sanctions banning trade with Iran – new statements from Russian Deputy Foreign Minister Sergei Ryabkov called on the international community to free itself from […]
Doug Casey: The Deep State Is the Source of Our Economic Problems
Doug Casey: The Deep State Is the Source of Our Economic Problems Justin’s note: As longtime readers know, Doug Casey says we’re well into what he calls the Greater Depression. America is headed for trouble… and it’s critical to know exactly what’s going on. That’s why today’s essay is so important. In it, Doug explains the source […]
The Bank Of Japan Bought 5.6 Trillion Yen In Stocks Last Year
The Bank Of Japan Bought 5.6 Trillion Yen In Stocks Last Year There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as the result of a voluntary abandonment of further credit expansion, or later as a final […]
ECB Inflationists are Crippling Europe
ECB Inflationists are Crippling Europe Last week, the ECB announced the reintroduction of targeted long-term refinancing operations for the third time. TLTRO-III is scheduled to start from next September. The idea is to make yet more money available for the banks at attractive rates on condition they increase their lending to non-financial entities. The policy […]
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 […]
How States/Empires Collapse in Four Easy Steps
How States/Empires Collapse in Four Easy Steps The promises cannot be met, and so society decays into warring elites and competing constituencies. There is a grand, majestic tragedy in the inevitable collapse of once-thriving states and empires: it all seemed so permanent at its peak, so godlike in its power, and then slowly but surely, too […]
What If Politics Can’t Fix What’s Broken?
What If Politics Can’t Fix What’s Broken? This is the politics of decline and collapse.The unspoken assumption of the modern era is that politics can fix whatever is broken: whatever is broken in society or the economy can be fixed by some political policy or political process– becoming more inclusionary, seeking non-partisan middle ground, etc. What […]
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 […]
Gold Will Become the Next Global Currency of Choice
Gold Will Become the Next Global Currency of Choice With a wobbly stock market, falling Treasury yields and rampant geopolitical strife, the focus on gold as an asset has been intense as of late. The metal’s price gains reflect this, as gold recently proved able to hold above a key resistance level, which holds bullish […]
Why Everything That Needs to Be Fixed Remains Permanently Broken
Why Everything That Needs to Be Fixed Remains Permanently Broken Just in case you missed what’s going on in France: the status quo in Europe is doomed. The status quo has a simple fix for every crisis and systemic problem: 1. create currency out of thin air 2. give it to super-wealthy banks, financiers and […]
Democratizing Money
Democratizing Money The Green New Deal has been in the air lately. In a recent piece on this website, Rob Urie writes that the Green New Deal is “the last, best hope for environmental and social resolution outside of rapid dissolution toward dystopian hell.” Quite a claim. Let’s take a closer look. The Green New […]
“But, it’s not backed by anything?”
“But, it’s not backed by anything?” One of the most common arguments against Bitcoin is that it is not backed by anything. That it’s price is just speculation. But what does it mean for an asset or a currency to be backed by something in the first place? To find this out, we first need […]
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 […]
