he CIA recently released a series of declassified 1970s memos relating to the gold market and the newly created SDR. These memos give new insight how the CIA viewed the gold market, the perceived manipulation of gold and the potential for the SDR to become a gold substitute in the international monetary system.
"[Rogoff] has the audacity to say that people should not look at their short-term personal losses, but rather look at the long-term vision of the central banks. He is such an elitist. I cannot find words appropriate to describe how this academic, who has zero experience in the real world, is incapable of comprehending that his Marxist style intervention is creating the next crisis."
According to the Sunday Times, on Tuesday U.K. Prime Minister Theresa May will call for a “clean and hard Brexit’’ saying she’s willing to quit the European Union’s single market to regain control of Britain’s borders and laws. The prime minister’s staff have warned that her words would likely cause a “market correction” that could lead to a fresh fall in the pound.
UK Labour Party leader Jeremy Corbyn has a brilliant idea to 'fix' the supposed income-inequality problem - impose a maximum limit on how much people can earn in Britain. This proposal was immediately met by derision by economists and leaders as "incoherent", "it doesn't make any economic sense at all, and "totally idiotic" - all of which are completely correct.
Global stocks were fractionally lower in early European trading, closed Asia mixed, while S&P futures were unchanged, as the dollar fell for a second day on concerns ahead of Trump's press conference on Wednesday. Oil rebounded after its Monday plunge, while commodity metals like iron ore rose limit up in Chinese trading.
European, Asian stocks fall and U.S. equity-index futures traded mixed on Monday with fresh memories of the Dow Jones rising to under 1 point of 20,000 on Friday. The dollar has rebounded on fresh geopolitical concerns, while the pound extends its decline from Friday and has slide to 10 week lows on a Sunday interview from Theresa May which suggested a "Hard Brexit" may be in the cards.
While Trump has yet engage the social network on Sunday, in his last tweet on Saturday evening, President-elect Donald Trump said he would will meet with U.K. Prime Minister Theresa May in the spring as the British leader seeks to rejuvenate ties with the US after a frosty start to their relationship and expand the UK's relationship with the U.S. after her country withdraws from the European Union.
Today, the only thing keeping a lid on financial calamity is epic amounts of artisanal money. Deregulating an inherently corrupt and coddled banking industry, already floating on said capital assistance, would inevitably cause another crisis during Trump’s first term.