Brazil

Rickards Warns "Cracks In The Dollar Are Getting Larger"

"The 1920s and 1930s witnessed a long, slow decline in sterling as it devalued against gold in 1931, and devalued again against the dollar in 1936... The dollar is losing its leading reserve currency status now, but there’s no single announcement or crucial event, just a long, slow process of marginalization."

Frontrunning: September 28

  • GOP Tax Proposal Expected to Benefit Wall Street Firms (WSJ)
  • Trump’s Tax Cuts May Produce Short Job-Growth ‘Sugar High’ (BBG)
  • Playboy founder Hugh Hefner dies at age 91 (Reuters)
  • Mountains of Aid Languish on Docks in Stricken San Juan (BBG)
  • Janet Yellen Can’t Help Retirees (BBG)

Frontrunning: September 26

  • Demise of Obamacare Repeal Shows How Far GOP Remains From Goal (BBG)
  • Republican’s Latest Tax Plan Has Little Room to Maneuver (WSJ)
  • Mexico in three-day countdown to search for earthquake survivors (Reuters)
  • Oil near 26-month high as Turkey threatens to choke Kurdish exports (Reuters)
  • North Korea bolsters defenses after flight by U.S. bombers as rhetoric escalates (Reuters)

Metals Massacre - Iron Ore Enters Bear Market, Copper Collapses To 1-Month Lows

The hype surrounding the credit-fueled resurgence in base metals in the first half of 2017 has crashed and burned on the altar of reality in China's slowdown with industrial metals from copper to iron ore and zinc all plunging in the last two weeks. Odd that we don't hear much from mainstream business media discussing the implications for a global coordinated economic growth narrative...

Trump's China-Sanctions Madness Imperils The Dollar

"If the US wants to really continue with this sanctions game, it need also be prepared to face the reality that its not 1989, and that the world may not be willing to treat dollars and US sanctions in the way the US expects it to. The likely response will only be the latest evidence that the US 'unipolar moment' is over. "