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Olduvai III: Catacylsm
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CONfidence

CONfidence Markets are subject to a giant con game. The game of CONfidence. Confidence must be maintained under all circumstances or we’re heading into a global recession first and then a US recession to follow. Consider the macro context here: Nine major economiesare either in recession or on the verge of it. This includes Germany, UK, Italy, […]

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Bob Dylan as Economic Prophet

Bob Dylan as Economic Prophet We have a habit on our trading floor of playing Bob Dylan whenever the markets start selling off. We hardly ever play Dylan these days. Though I consider the Nobel Laureate something of a personal classical liberal icon, I don’t remember exactly how this office tradition ever started. But the […]

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Sorry, Central Banks: Risk and Volatility Cannot be Extinguished

Sorry, Central Banks: Risk and Volatility Cannot be Extinguished Central bank market intervention doesn’t extinguish risk–it simply transfers it to the system itself. The unspoken claim of central bank policy is that risk can be extinguished by intervention/manipulation: once the Fed has your back, i.e. is supporting the market, risk disappears, and the easy profits flow to […]

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Ex-Plunge Protection Team Whistleblower: “Governments Control Markets; There Is No Price Discovery Anymore”

Ex-Plunge Protection Team Whistleblower: “Governments Control Markets; There Is No Price Discovery Anymore” One year after the great stock market crash in 1987, US President Ronald Reagan launched the “Working Group on Financial Markets.” Conspiracy theorists believe, however, that the real task of this committee is to protect against a renewed slump in the stock […]

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Olduvai IV: Courage
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Olduvai II: Exodus
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