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The U.S. Dollar Collapse Is Greatly Exaggerated
The U.S. Dollar Collapse Is Greatly Exaggerated The US Dollar Index has lost 10% from its March highs and many press comments have started to speculate about the likely collapse of the US Dollar as world reserve currency due to this weakness. These wild speculations need to be debunked. The US Dollar year-to-date (August 2020) has strengthened […]
The Fed’s Couldn’t Even Stomach a 10% Drop in Stocks… It’s Officially in the Bubble Business
The Fed’s Couldn’t Even Stomach a 10% Drop in Stocks… It’s Officially in the Bubble Business The Fed will soon be buying stocks. Earlier this week, the Fed announced that it will begin buying corporate bonds from individual companies. Before this announcement, the Fed was already involved in the: The Treasury markets (US sovereign debt) […]
Bank Of Japan Buys Record Amount Of ETFs, Admits ‘Paper Losses’, Plans Program Expansion
Bank Of Japan Buys Record Amount Of ETFs, Admits ‘Paper Losses’, Plans Program Expansion Having blown over two trillion yen since October in purchasing stocks (ETFs) in the open market to “support Japan’s economy,” markets are rife with speculation the Band of Japan (BoJ) could pledge next week to buy ETFs at a faster pace than […]
The Collapse Of This Historic Correlation Suggests A Major Crisis Is Imminent
The Collapse Of This Historic Correlation Suggests A Major Crisis Is Imminent A lot of digital ink has been spilled in recent days over the perplexing reversal of the Yen, which for years was seen by the market as a “flight to safety” trade (as unexpected crisis events would prompt capital repatriation into Japan or […]
“This Is Insanity!” – Jim Rogers Warns Of “Horrible Time” Ahead
“This Is Insanity!” – Jim Rogers Warns Of “Horrible Time” Ahead The Fed has increased its balance sheet over 500% in the past decade; The Bank of Japan is printing money to buy bonds and stock ETFs; and The European Central Bank is mired in insane negative interests. And, according to legendary investor Jim Rogers, they […]
The Fed Detests Free Markets
The Fed Detests Free Markets To be completely honest, I wrote -most of- the second part of this a while ago, and then I was thinking this first part should be part of the second, if you can still follow me. But it doesn’t really, it’s fine. I wanted to write something to address how […]
Ex-BOJ Chief Regrets Not Hiking, Hated QE, Says Sub-1% Interest Rates Don’t Work
Ex-BOJ Chief Regrets Not Hiking, Hated QE, Says Sub-1% Interest Rates Don’t Work Things are going from bad to worse in Japan: 7 years after BOJ chief Kuroda launched QQE (subsequently with yield curve control) while monetizing tens of billions in ETFs, the central banks has failed to boost either Japan’s economy or its inflation, […]
Analysts Stunned After Lagarde Demands “Key Role” For The ECB In Climate Change
Analysts Stunned After Lagarde Demands “Key Role” For The ECB In Climate Change Having failed miserably to “trickle down” stock market wealth for a decade as was their intention, something Ben Bernanke made clear in his Nov 4, 2010 WaPo op-ed, central banks have moved on to more noble causes. Over the weekend Minneapolis Fed chair […]
The Lessons From Japan’s Monetary Experiment
The Lessons From Japan’s Monetary Experiment A recent article in the Financial Times, “Abenomics provides a lesson for the rich world“, mentioned that the experiment started by prime minister Shinzo Abe in the early 2010s should serve as an important warning for rich countries. Unfortunately, the article’s “lessons” were rather disappointing. These were mainly that the central bank can […]
BOJ To Start Lending ETF Shares To Prevent Market Freeze
BOJ To Start Lending ETF Shares To Prevent Market Freeze While most central banks are contemplating how to gently break it to the public that since they are out of ammo with interest rates at all time low, and $15 trillion in global sovereign debt is now yielding negative – a financial abortion which suggests […]
The Fed is Lying to Us
The Fed is Lying to Us “When it becomes serious, you have to lie” The recent statements from the Federal Reserve and the other major world central banks (the ECB, BoJ, BoE and PBoC) are alarming because their actions are completely out of alignment with what they’re telling us. Their words seek to soothe us […]
Square Minus Zero
Square Minus Zero I intentionally start writing this mere minutes away from Fed chair Jay Powell’s latest comments. Intentionally, because the importance ascribed to those comments only means we have gotten so far removed from what capitalism and free markets are supposed to be about, that it’s pathetic. The comments mean something for rich socialists, […]
Bank of Japan & the Bond Crisis
Bank of Japan & the Bond Crisis BoJ Statement 4-24-2019 The Great Financial Unknown is now upon us. After 10 years of Quantitative Easing, the European Central Bank (ECB) in Europe owns 40% of the national debts in the EU and it can neither sell them nor stop buying without creating a Panic in Interest […]
Weekly Commentary: Dudley on Debt and MMT
Weekly Commentary: Dudley on Debt and MMT December’s market instability and resulting Fed capitulation to the marketplace continue to reverberate. At this point, markets basically assume the Fed is well into the process of terminating policy normalization. Only a couple of months since completing its almost $3.0 TN stimulus program, markets now expect the ECB […]
We Are Entering The “Quantitative Failure” Narrative
We Are Entering The “Quantitative Failure” Narrative For a decade, the world brushed off any concerns about soaring global debt under the rug for a simple reason: between the Fed, the ECB and the BOJ, there was always a buyer of last resort, providing an implicit or, increasingly explicit backstop to bond prices, in the […]
