Having exposed the "current global establishment’s (including Trump’s) overall plan" consisting of 8 simple steps to solve the global debt crisis,Bill Gross then goes on to say that "it pays to not fight the tiger until it becomes obvious that another plan will by necessity replace it."
"I can’t justify any of this. The lesson investors are getting is that everything is a buying opportunity and you need to not miss the boat. Brexit? Bullish. Trump winning the election? Bullish. Italy saying no to the referendum and the Prime Minister handing in his resignation? Bullish. Heck, all we need is the entire Belgian banking system to go kablooey and the S&P 500 will be at 3,000 by Christmas Eve."
That so few investors know about this enormous market, its importance, and relevance is frankly pretty shocking. Understanding it goes a long way to understanding why, despite the greatest monetary intervention we’ve ever seen by central banks, we’ve remained in a contractionary environment.
Turkey is taking steps to allow commerce with China, Russia and Iran to be conducted in local currencies, President Tayyip Erdogan said on Sunday, the government's latest effort to shore up the tumbling lira.
Donald Trump today announced that he is establishing the President’s Strategic and Policy Forum. The Forum will be called upon to meet with the President "frequently to share their specific experience and knowledge as the President implements his plan to bring back jobs and Make America Great Again. The Forum will be chaired by Stephen Schwarzman, Chairman, CEO, and Co-Founder of Blackstone." Its members also include Jamie Dimon and Larry Fink.
"Wouldn’t it be great if Toblerone turned this incident into a teaching moment for its devoted customers? If it used its social media channels to remind them of the virtues of hard money and the costs of fiat money? If it helped Toblerone aficionados see the relationship between gaps in their candy to mainstream monetary fads that help bring them about?"