Bank of England

What Really Happened Among The Ja'ss Holes?

“We still have plenty of tools,” remarked a spokesperson: “Janet Yellen, Mark Carney, Andy Haldane, Mario Draghi – does any remote, unelected bureaucracy anywhere in the world have a bigger set of tools?”

Futures Flat, Global Stocks Higher As Dollar Resumes Rise

The quiet overnight market had been focused on the upcoming comments by Stanley Fischer, who is set to give a Bloomberg TV interview at 6:30am ET, where he was expected to expand on his recent hawkish comments. Heading into Fischer's appearance, the dollar strengthened, global stocks rose, oil hovered around $47, while US index futures were largely flat and Treasuries fell.

Frontrunning: August 29

  • Central Bankers Spurn Call for Radical Approach at Jackson Hole (BBG)
  • Turkey deepens Syria offensive, at odds with U.S. (Reuters)
  • Another red line: U.S. says clashes between Turkish forces and opposition in Syria 'unacceptable' (Reuters)
  • Iceland Raises Alarm After Largest Volcano Starts to Rumble (BBG)
  • On Syria, Democrats look to deflect the conversation (AP)

The Blessing Of Cash (And Why Central Bankers Hate It So Much)

Cash is an unambiguously a blessing to productive workers, savers, and entrepreneurs who wish to protect their hard earned money from the crazed theories and swindling schemes promoted by statists like Rogoff and the central bankers he advises.

Jim Grant: "This Will Turn Out To Be Very Bad For Many People"

"The stock market is at record highs and the bond market is acting as if this were the Great Depression... the Fed is virtually a hostage of the financial markets. When they sputter, let alone fall, the Fed frets and steps in... the Fed is justified in that belief because it is responsible to a great degree for the elevation of financial asset values... and to me, gold is a very timely way to invest in monetary disorder."

Spectacular Chinese Gold Demand Fully Denied By GFMS And Mainstream Media

Gold investors around the world continue to be fooled about Chinese gold demand. For some reason GFMS is restrained in disclosing that any individual or institution in China can directly buy and withdraw gold at the Shanghai Gold Exchange, which is the most significant reason for the discrepancy in question. According to calculations, true Chinese gold demand in 2015 must have been north of 2,250 tonnes.

Frontrunning: August 17

  • Futures flat ahead of Fed minutes (Reuters)
  • Trump shakes up campaign staff (Reuters)
  • Univision Wins Bankruptcy Auction for Gawker Media for $135 Million (WSJ)
  • Congress receives FBI material on Hillary Clinton emails (CBS)
  • Traders Brace for More Turmoil in World’s Worst Stock Market (BBG)