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Washington: The Bleeder of the ‘Free World’
Washington: The Bleeder of the ‘Free World’ Among the many self-flattering epithets it gives itself, the US has always claimed to be the “leader of the free world”. It’s a rather patronizing notion that America views itself as a selfless protector and benefactor of its European allies and others. This fairytale depiction of the world […]
Washington Is Destroying American Power
Washington Is Destroying American Power Readers at home and around the world want to know what to make of the announcement that China henceforth will conduct oil purchases and sales in gold-backed Chinese currency. Is this an attack by Russia and China on the US dollar? Will the dollar weaken and collapse from being […]
Globalization is Poverty
Globalization is Poverty Marc Riboud Zazou, painter of the EIffel Tower 1953Central bankers have never done more damage to the world economy than in the past 10 years. One may argue this is because they never had the power to do that. If their predecessors had had that power, who knows? Still, the global economy […]
US Deploys Special Forces “Decapitation” Team To South Korea
US Deploys Special Forces “Decapitation” Team To South Korea Today, the South Korean and U.S. navies kicked off massive combined drills off the coast of the Korean peninsula amid heightened tensions, a training exercise which North Korea has warned may prompt another ballistic missile launch potentially to coincide with the launch of the Chinese 19th […]
China’s mortgage debt bubble raises spectre of 2007 US crisis
China’s mortgage debt bubble raises spectre of 2007 US crisis Many young homeowners in booming cities owe more than they earn, and some even falsify salary details to get bigger mortgages Behind the dream of property ownership they share with many like-minded friends lies an uninterrupted housing price rally in major Chinese cities that dates […]
China Takes Aim At The Petrodollar
China Takes Aim At The Petrodollar China continues to pursue its ambitious plan to make its currency—the yuan—more international. The world’s top crude oil importer and key oil demand growth driver is now determined to get as many oil exporters as possible on board with accepting yuan payments for their oil. China is now trying […]
King Dollar is Dead? Biggest Paradigm Shift in 100 Years: China and Electric Cars at Forefront
King Dollar is Dead? Biggest Paradigm Shift in 100 Years: China and Electric Cars at Forefront Steen Jakobsen, Saxo Bank Chief Economist and CIO, says the biggest change in 100 years is underway. He points to events in China and with electrification of cars. This is a guest post by Jakobsen. Macro Digest: The 19th […]
Prepare for a Chinese Maxi-devaluation
Prepare for a Chinese Maxi-devaluation China is a relatively open economy; therefore it is subject to the impossible trinity. China has also been attempting to do the impossible in recent years with predictable results. Beginning in 2008 China pegged its exchange rate to the U.S. dollar. China also had an open capital account to allow […]
Russia and China Strengthen Their Alliance, Weakening the US Dollar in the Process
Russia and China Strengthen Their Alliance, Weakening the US Dollar in the Process Month after month, year after year, the mighty King Dollar is slowly being weakened, its monopolistic grip as the fiat reserve currency of the world steadily lessening. To many, this reality passes them by, as they are blissfully ignorant to the facts, […]
Trump Sends Second Aircraft Carrier To Korean Peninsula With 7,500 Marines Aboard
Trump Sends Second Aircraft Carrier To Korean Peninsula With 7,500 Marines Aboard Just one week after uttering his now-infamous “this is the calm before the storm” statement to the press ahead of a dinner with military leaders, we now learn that President Trump has dispatched a second nuclear aircraft carrier, the USS Theodore Roosevelt, filled […]
Only China Can Restore Stability in The Global Economy
Only China Can Restore Stability in The Global Economy Fan Ho East meets west 1963 For those of you who don’t know Andy Xie, he’s an MIT-educated former IMF economist and was once Morgan Stanley’s chief Asia-Pacific economist. Xie is known for a bearish view of China, and not Beijing’s favorite person. He’s now an […]
De-dollarization Not Now
De-dollarization Not Now USD-denominated debt outside the US hits record – even junk bonds. China announced today that it would sell $2 billion in government bonds denominated in US dollars. The offering will be China’s largest dollar-bond sale ever. The last time China sold dollar-bonds was in 2004. Investors around the globe are eager to […]
Russia And China Continue To Boost Oil Ties
Russia And China Continue To Boost Oil Ties Even before the OPEC/non-OPEC production cuts took effect in January 2017, Russia had already beaten Saudi Arabia to become China’s single largest oil supplier for 2016. Since then, Saudi Arabia has sacrificed still more of its market share in the prized Chinese market, while Russia has dominated […]
Dutch Central Bank Warns Of Market Calm Before The Storm:
Dutch Central Bank Warns Of Market Calm Before The Storm: With one foot out of the door of Germany’s finance ministry, the former head of the German economy, Wolfgang Schäuble, 75, delivered a fire and brimstone warning over the weekend, telling the FT in an interview that there was a danger of “new bubbles” forming […]
Kyle Bass Sounds Off On “Worthless” Puerto Rican Debt, The Crypto “Gold Rush”, And Guns
Kyle Bass Sounds Off On “Worthless” Puerto Rican Debt, The Crypto “Gold Rush”, And Guns With the dollar’s recent post-Fed bout of appreciation providing some much-needed relief for Haymarket Capital’s P&L, its founder Kyle Bass sat for an interview on Friday with Bloomberg’s Erik Schatzker. During the 20 minute discussion, Bass expounded on the importance […]
