Central Banks

"I've Never Felt So Resigned To The Fact That We Are All Stuck..."

"I’ve never felt so ... resigned ... to the fact we are ALL well and truly stuck. The Fed is stuck. The ECB and the BOJ are stuck. The banks are stuck. Corporations are stuck. Asset managers are stuck. Financial advisors are stuck. Investors are stuck. Republicans are stuck. Democrats are stuck. We are all stuck in a very powerful political equilibrium where the costs of changing our current bleak course of ineffective monetary policy and counter-productive regulatory policy are so astronomical that The Powers That Be have no alternative but to continue with what they know full well isn’t working."

The Fed's 3rd Mandate & The Value Of Cash

Jan 2008: Bernanke "The Federal Reserve is not currently forecasting a recession." Jun 2008: Bernanke "The risk that the economy has entered a substantial downturn appears to have diminished." Jun 2016: Yellen "chances of recession this year are 'quite low'... The U.S. economy is doing well. My expectation is that the U.S. economy will continue to grow." Channelling Bernanke?

Voting Begin: Stocks Surge, Sterling Hits 2016 Highs, Futures Flirt With 2100

On the day voting for the UK referendum finally began, what started off as a trading session with a modest upward bias, promptly turned into a buying orgy in painfully illiquid markets shortly after Europe opened as an influx of buy orders pushed European stocks 2% higher, propelled by cable which was above 1.49 for the first time since December and USDJPY climbing over 1.05 in sympathy, following the release of the final Ipsos Mori poll which showed Remain at 52% to 48% for leave.

Today’s Trading Is All About Blinking First

The voting has begun to decide Britain’s EU referendum. It’s raining hard and it’s hot, which makes it fortunate that the British are a hardy lot. They’ve had to be to endure a campaign where the hyperbole has been worthy of a U.S. election.  Banks left and right are warning their clients in advance that they may not have the liquidity or risk appetite to execute trades on their behalf tomorrow. I’m not sure why they’re also advising what trades to do on the outcome.

Who Is The "European Movement" And Why The Answer May Change How You Vote On "Brexit"

The revelation that the EU is the result of a major US secret service operation – effectively just yet another secret creature of deception launched by the CIA (taking seat of honour in the hall of infamy that includes false flag operations, invasions, coup-detats, and the establishment of organisations such as Al Qaida and ISIS) solves the third mystery, namely how on earth the allegedly democratic European nations could design such an undemocratic, virtually dictatorial structure.

The British Referendum And The Long Arm Of The Lawless

The true fear lies with those who stand to lose the most, in this case the countries who hold the Euro currency together with the thinnest of threads. As Britons head to the polling booths, they should hold their heads high, rightly insulted at the feigned notion that the UK cannot stand on its own. After all, much of the civilized world we take for granted today is rooted in the British rule of law.

Is Soros Wrong?

"There is an argument that a Brexit might look similar to the aftermath of sterling?s ignominious exit from the ERM on ?Black Wednesday? 16 September 1992. In a current environment where central banks and governments have failed to generate a strong enough economic recovery to normalise interest rates amid persistent deflationary pressures, one would have thought a substantial decline in one?s currency would be welcomed ?- for that is one way to inject a modicum of inflation back into the economic system."

The World's Central Bankers Are Gathering At The BIS' Basel Tower Ahead Of The Brexit Result

BOJ Governor Haruhiko Kuroda will be in Switzerland as the results are announced of the U.K.’s June 23 vote on whether to remain in the European Union.He won't be alone: Kuroda will be traveling from June 23 to June 28 to attend meetings of the Bank for International Settlements, where other central bankers also will gather, the BOJ said Wednesday.

Gartman Flip-flops Again: 'The Trend Is, Has Been And Shall Be Upward"

"The trend is, has been and likely shall continue to be upward. TINA rules the day; TINA is “Queen.” TINA it is then. It will end when it ends and it will eventually end badly of course for such things always do.  But between now and that hundred years the trend for interest rates is lower and the trend for equity prices is higher."

Did Bank Of Japan's Kuroda Just "Capitulate" Too?

First it was The Fed's Janet Yellen coming "as close to capitulation on monetary policy's lack of efficacy," and now The Bank of Japan's Kuroda appears to have had an epiphany. In a stream of truth-filled consciousness unheard of for central planners, the governor admitted, among other things, that "monetary policy doesn't always turn out as expected," and that "many economists don't think financial markets always right," implying, of course, that he and his brethren know better. It appears that as central bank credibility collapses, so the central bankers themselves are having their own 'Greenspan'-moment when their life's work is finally proven entirely pointless.