Bank of International Settlements

Bank of International Settlements

BIS Finds Global Debt May Be Underreported By $14 Trillion

"Contracts worth tens of trillions of dollars stand open and trillions change hands daily. And yet one cannot find these amounts on balance sheets. This debt is, in effect, missing" the BIS finds in its latest quarterly assessment, which is a concerning as "the missing debt amounts to some $13-14 trillion."

The Most Important Paper Of The Next Decade

"Whenever I tell people the next big crisis will come from inflation, not deflation, the looks of disgust are worse than when someone says Justin Bieber’s music is not that bad... and I must admit, I have always had difficulty articulating how inflation would manifest... until now!"

Are Central Banks Nationalizing The Economy?

"Monetization is a perfect system to nationalize the economy passing all the risks of excess spending and imbalances to taxpayers. And it always ends badly... To believe that this time will be different and governments will spend all that massive 'very expensive free money' wisely is simply delusional."

10 Reasons Why Central Banks Will Miss The Cryptocurrency Renaissance

"It's a familiar trend, one that happened in communications (internet), and that is now playing out in energy (solar), manufacturing (3D printing) and finance (cryptocurrency) – power and control are moving into the hands of the individual and away from nation states."

The Rise Of Zombie Companies (And Why It Matters)

"The citizen does not benefit from the zombification of the economy. The citizen pays for it. How? With the destruction of savings through financial repression and the collapse of real wage growth. Savers pay for zombification, under the mirage that it 'keeps' jobs."

John Mauldin Warns "Prepare For Turbulence"

"I’d love to be wrong. Nothing would make me happier than having to eat all these words. But without significant changes, and soon, the economy will drift sideways and down... Any outside shock – and several may be in the offing – could push us into recession."

China Reserves Jump Most In Three Years; Hedge Fund Asks "Is This The End Of The Yuan Bear Market?"

In all the drama surrounding the French elections, few noticed the PBOC's announcement that China’s FX reserves rose for the third straight month in April, increasing by $20.45 billion to $3.03 trillion, more than the $11 billion expected and the single biggest monthly increase in three years going back to April 2014, on the back of a weaker dollar and increasingly more draconian capital controls on outflows.