Do I have any sympathy for Mark Carney? No, of course not, he’s a technocrat pretending he has many strings to his fully independent bow, whereas in reality the bow itself does not exist. In January 2016 he was a…
Blog Archives
Tensions
Did you think the Fed hiked rates on Wednesday? Well, they talked about fiddling around with overnight rates, reverse repos and their usual excuses for why the economy is still struggling to reach stall speed, but let’s have a quick…
Posted in Uncategorized Tagged with: Fed, interest, markets, monetarism, rates, treasuries, Yellen, yields
The Nexus
It’s time to delve into the murky waters of the nexus between money, central banks, governments, banks, and humankind. Most of my thoughts are focussed on the present and the future, rather than the past, so that means there will…
Posted in Uncategorized Tagged with: banks, capitalism, deflation, markets, monetary system, nexus, QE, sovereign debt
Just over the horizon
If you follow the world of money as closely as we do, you will not be at all surprised by the information contained in this brief post. If this is news to you, and you have more than 100,000 in…
Dot connecting
The past nine months have been very interesting indeed. There are a large number of developments worth considering, and our view is that there is one theme connecting them all: The US dollar. Let’s jump back to June 2014. The…
When all else fails, rely on soothing words and mindless optimism.
We live in a world where reality is very inconvenient. Particularly to certain governments and their mainstream supporters. One such country is the UK, where problems loom large, but are (currently) easily dismissed with a few comforting words from policy…
Posted in Uncategorized Tagged with: Bank of England, collapse, deficit, fiscal, inflation, sterling, trade
Thank you for the warning
Once again the Bank for International Settlements (BIS) is highlighting the potentially devastating problems that lie ahead as this c.100 year debt bubble heads towards bursting point. Inevitably, the vast majority of those involved in the markets will remain oblivious…
‘Extreme views’
You may have noticed that the title to this post is a quotation. A hedge fund manager we met recently told us he was always interested in hearing ‘extreme views’. We were not offended, rather we were somewhat amused. This…
Carney v the BIS
Governor Carney has a tough job at the Bank of England, and he knows it. Recently he has been peddling forwards and backwards on interest rate increases. Does he still sound convincing? He was sat in front of the Treasury…
Evolution versus de-evolution.
We have copied below a brief section of a recent speech given by Jaime Caruana, General Manager of the Bank for International Settlements. His speech was titled ‘Redesigning the central bank for financial stability responsibilities’. His words (our emphasis): ‘I…
Posted in Uncategorized Tagged with: evolution BIS crisis socialism currency crisis deficits Caruana