Foreign Central Banks

Bundesbank Repatriates Gold From New York, Paris "Faster Than Planned"

In 2016 the Bundesbank repatriated more of its gold than planned, as it moved toward relocating half of the world's second-largest reserve at home. "We brought back significantly more gold to Germany in 2016 again than initially planned. By now, almost half of the gold reserves are in Germany," Buba president Jens Weidmann said.

Dave Collum's 2016 Year In Review - "And Then Things Got Really Weird..."

"Markets don’t have a purpose any more - they just reflect whatever central planners want them to. Why wouldn’t it lead to the biggest collapse? My strategy doesn’t require that I’m right about the likelihood of that scenario. Logic dictates to me that it’s inevitable..."

Obstacles To Trump's "Growth" Plans

Mr. Trump rather unfortunately may find that his chief task will not be the management of this Great Re-orientation, but more prosaically, fending off the headwinds which he will face as he hauls on the tiller of the economy. In short, there is a real prospect that his ambitious economic “remake” may well be prematurely punctured by financial crisis. These headwinds will not be of his making, and for the main part, represent the accumulation of an earlier monetary doctrine which will fetter the President-elect into a small corner from which any chosen exit will carry adverse implications.

Helicopter Money Has Arrived... And Nobody Noticed: Here's Why

"US will likely implement serious fiscal stimulus but without Fed QE. Europe will have no meaningful fiscal stimulus but lots of QE. Japan is a hybrid as it will have monetary policy that easily allows for more expansionary domestic fiscal policy. However there is some evidence to suggest that we’ll effectively have cross border helicopter money."

As China Liquidates US Treasuries, It is "Gobbling" Up Japanese Government Bonds

China is on a shopping spree, and has been "gobbling" up Japanese government bonds, adding that Beijing bought close to a net 9 trillion yen ($86.6 billion) worth of JGBs in the January-August period, more than tripling the amount from the same period last year. Incidentally that's almost equivalent to the number of US Treasurys sold by China.