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Tag Archives: central banks
Currency Wars – Russia Buys 20.7 Tonnes Of Gold In December; Netherlands Refutes IMF Gold Data
Currency Wars – Russia Buys 20.7 Tonnes Of Gold In December; Netherlands Refutes IMF Gold Data UPDATE: Since we published our blog this morning, the Dutch central bank has denied that it added to its gold reserves in December. De Nederlandsche Bank, the Dutch central bank has denied reports in Reuters, Bloomberg and picked up […]
From Keynesian Shangri-La To Outright War
From Keynesian Shangri-La To Outright War Over the last few weeks drum beats could be heard signalling the coming of troops from abroad to lay waste to any foe ahead of them. However, unlike what we first conjure up as troops from an opposing force made up of men and weapons. This battlefield is being waged […]
Central Bank Gold Market Operations
Central Bank Gold Market Operations I ran across these two speeches the other day, referenced by a GATA article about gold price suppression. The speeches were by the Director of Market Operations at the French Central Bank, and they were given to LBMA audiences. In fact, you can see that both are sourced from the […]
Axel Merk: Why Asset Prices Must Return To Lower Levels
Axel Merk: Why Asset Prices Must Return To Lower Levels It’s the price you pay for forcing capital to speculate Saying it’s been a busy week and half on the central bank front is perhaps a sizeable understatement. First, the Swiss National Bank stunned the world (and its brethren central banks) by removing its peg […]
When This Ends, Everybody Gets Hurt
When This Ends, Everybody Gets Hurt And the end is uncomfortably close Central banks around the globe have taken us all into unchartered territory, where the possible paths boil down to a binary outcome: either it all works out or it doesn’t. Unfortunately, the ‘it all works out’ outcome has a very low probability of […]
Are Central Bankers Losing The Plot: “The SNB Move Signals A Spectacular Loss Of Nerve”
Are Central Bankers Losing The Plot: “The SNB Move Signals A Spectacular Loss Of Nerve” As we have reiterated very frequently over recent years, the biggest vulnerability in the post crisis environment was that central banks start to make policy errors, by taking activist and precipitous decisions. Thus following on from last year’s error by Norges […]
Even Central Bankers Now Admit QE Doesn’t Work
Even Central Bankers Now Admit QE Doesn’t Work Even As European Central Bank Is Set to Unleash a Massive Round of Quantitative Easing, Central Bank Heads Admit QE Doesn’t Work The former head of the Bank of England – Mervyn King – said today that more QE will not help the economy: We have had the biggest […]
“This Is A Race To The Bottom Where No Fiat Currency Wins”
“This Is A Race To The Bottom Where No Fiat Currency Wins” Following another frustrating year in the previous metals markets, 2015 is showing signs that change is afoot. As Santiago Capital’s Brent Johnson notes in this brief presentation, while being ‘wrong’ for the last 2 years on gold has been painful, is it any less crazy […]
Macro Digest: Endgame for central bankers
Macro Digest: Endgame for central bankers The Swiss National Bank’s removal of the franc’s peg to the euro last week had far-reaching consequences because we were all taken by surprise. The fact that it would (and should) happen eventually was not lost on the market, but the SNB was as late as last week end […]
A Quick Sanity Check
A Quick Sanity Check A cautionary reminder of where we are in this story Sometimes it pays to step way back and look at things from a high level. In response to the 2008 crisis, the world’s major central banks pumped an unprecedented amount of monetary stimulus into the system — all in the name […]
The End Of The World Of Finance As We Know It
The End Of The World Of Finance As We Know It I’ve said before, and quite a while ago too, – more than once-, that the world of investing as we’ve come to know it is over. It’s still as true as it was then, and I can only hope that more people today understand […]
The ECB Will Fail Given The “History Lessons Of US And Japan”, Warns Deutsche Bank
The ECB Will Fail Given The “History Lessons Of US And Japan”, Warns Deutsche Bank Recall that the stated purpose behind the reason why Mario Draghi’s ECB is about to launch a European government debt monetization program ranging between EUR500 and 1000 billion is to halt deflation, spark credit creation and rekindle inflation. Alas, if […]
The Center’s Got To Give
The Center’s Got To Give I was thinking about something along the lines of The Center Cannot Hold and Something’s Got To Give earlier, but then I thought there’s no way I haven’t used those titles before. And then it occurred to me that The Automatic Earth started 7 years ago this month. Just looked […]
The Achilles Heel of the Global Status Quo: Deflation
The Achilles Heel of the Global Status Quo: Deflation Rather than being the Monster Under the Bed in central bank nightmares, deflation is the natural result of a competitive economy experiencing productivity gains. That the global Status Quo is terrified of deflation is the background of every policy decision and official PR sound-bite. The reason behind this unremitting […]
