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This currency is designed to benefit the local community
This currency is designed to benefit the local community This article was adapted from our latest book, “Sharing Cities: Activating the Urban Commons.” Download your free pdf copy today. The Brixton district in South London’s Lambeth borough has been a bastion of progressive thought and culture for decades. After the financial crisis of 2008, local businesses were struggling […]
The Global Financial System Is Unraveling, And No, the U.S. Is Not immune
The Global Financial System Is Unraveling, And No, the U.S. Is Not immune Currencies don’t melt down randomly. This is only the first stage of a complete re-ordering of the global financial system. Take a look at the Shanghai Stock Market (China) and tell me what you see: A complete meltdown, right? More specifically, a […]
Peso, Rand Plummet As Emerging Market Crisis Deepens
Peso, Rand Plummet As Emerging Market Crisis Deepens The EM contagion is slamming currencies around the globe, and while the Turkish Lira remains relatively immune for the time being, traders are now focusing their attention on the South African rand and the Argentine peso, both of which are in freefall this morning. The ZAR has […]
Emerging Market Contagion Threatens Oil Market
Emerging Market Contagion Threatens Oil Market The emerging market currency crisis is not over yet, and could yet morph into a broader contagion that threatens to drag down oil demand. Last week, Argentina’s peso fell by around 20 percent in just a few days, taking year-to-date losses over 50 percent. The central bank frantically hiked […]
Peso Set To Disintegrate After IMF Tells Argentina To Stop Supporting Currency
Peso Set To Disintegrate After IMF Tells Argentina To Stop Supporting Currency On May 11, three days after Argentina secured a $50 Billion IMF bailout – the largest in the fund’s history – we jokingly noted that with the peso resuming its slide, an indication the market did not view the IMF backstop as credible, […]
In Argentina “All Bets Are Off” As Peso Disintegrates
In Argentina “All Bets Are Off” As Peso Disintegrates “All bets are off” in Argentina” – as Bloomberg puts it – where the value of the local peso has plummeted, falling 20% this week alone. It is now 50$ weaker on the year versus the USD, making it the worst performing currency of 2018 and sending […]
‘Tipping Point’: These Charts Show Some of The Worst Currencies Of 2018
‘Tipping Point’: These Charts Show Some of The Worst Currencies Of 2018 Foreign currencies – especially the Emerging Markets – are having one of their worst years on record. And investor anxieties aren’t easing up. . . I wrote two weeks ago about the strong dollar and the chaos it’s creating for the Emerging Markets. […]
Rupiah Plunges To 1998 Asian Financial Crisis Low Amid Emerging Market Liquidation
Rupiah Plunges To 1998 Asian Financial Crisis Low Amid Emerging Market Liquidation Despite four rate hikes by the Bank of Indonesia since May, the Indonesia’s rupiah slid to a two-decade low, falling to 14,750 per dollar, a level last hit during the Asian Financial Crisis of 1998, and just shy of an all time low, […]
Rand Tumbles As Government Warns Of “Catastrophe” Unless ‘Land Reform’ Allowed
Rand Tumbles As Government Warns Of “Catastrophe” Unless ‘Land Reform’ Allowed In a barrage of headlines that sparked chaos in FX algo markets, The South African government proclaimed proudly that it is opposed to illegal land grabs (sparking a rally in the rand) before humans realized that this is mere statement of fact and that […]
Is China Losing Control? Yuan More Volatile Than Euro For First Time Ever
Is China Losing Control? Yuan More Volatile Than Euro For First Time Ever For the first time, FX traders are grappling with wilder swings from China than Europe. As Bloomberg notes, the offshore yuan has been more volatile than the euro all month after first overtaking the shared currency in July, according to 30-day realized data. And while euro […]
We Are All Lab Rats In The Largest-Ever Monetary Experiment In Human History
We Are All Lab Rats In The Largest-Ever Monetary Experiment In Human History And how do things usually work out for the rat? There are ample warning signs that another serious financial crisis is on the way. These warning signs are being soundly ignored by the majority, though. Perhaps understandably so. After 10 years of […]
Our “Prosperity” Is Now Dependent on Predatory Globalization
Our “Prosperity” Is Now Dependent on Predatory Globalization Nowadays, trade and “prosperity” are dependent on currencies that are created out of thin air via borrowing or printing. So here’s the story explaining why “free” trade and globalization create so much wonderful prosperity for all of us: I find a nation with cheap labor and no […]
These people lost one-third of their savings in a single week (not in crypto)
These people lost one-third of their savings in a single week (not in crypto) Let me say up front– I know I’ve been a bit quiet lately. It happens every year around this time when I hold the annual Liberty and Entrepreneurship Camp that I’ve been sponsoring for the past nine years. The event is […]
