• Steve H. Hanke
    05/04/2016 - 08:00
    Authored by Steve H. Hanke of The Johns Hopkins University. Follow him on Twitter @Steve_Hanke. A few weeks ago, the Monetary Authority of Singapore (MAS) sprang a surprise. It announced that a...

Kyle Bass

Tyler Durden's picture

Greenspan Admits The Fed's Plan Was Always To Push Stocks Higher





"You bring long-term rates down, and the price/earnings ratios in the equity markets go up, which is exactly what they planned to do and it's happened that way..."

 
Tyler Durden's picture

Bundesbank Defies Elites: Warns That "Plans To Abolish, Criminalize Cash Out Of Line With Freedom"





With everyone from ivory tower academics to sin-street hookers proclaiming the need for and benefits of a "war on cash" to save the world from criminals and tax-evaders (oh yeah and to stop NIRP-driven savers from hording cash and crushing central planners' dreams), it is perhaps shocking that Bundesbank board member Carl-Ludwig Thiele warned at an event this week that the attempt to abolish and criminalize cash is out of line with freedom. He said that citizens should continue to decide how and in what form they want to use their money.

 
Tyler Durden's picture

Kyle Bass On The Resurgence Of Gold And The Looming "Run On Cash"





"I think this is where the academics are kind of clashing with the practitioners. I think on paper negative rates make a lot of sense if you're running academic models, but in reality they make no sense... If they told you and I that they're going to tax your deposits by a hundred basis points, well it's better to put it in a safe or under your mattress. And that's why you see a resurgence in gold. The more they move to negative rates, the more gold is gonna take off because there's no carrying cost."

 
Tyler Durden's picture

"I Used To Be A Big Deal... And Then A Billion Dollars Walked Out The Door" - Hugh Hendry's Sad Story





"A funny thing happened at the end of 2013 I wrote a letter to my new clients and I began with the preface "what if I was to tell you that I'd become bullish on equities; is that something you'd be interested in." The resounding message no. A billion dollars walked out the door.... "What, really, you're bullish?" - Hugh Hendry

 
Tyler Durden's picture

Stanley Druckenmiller: "This Is The Most Unsustainable Situation I Have Seen In My Career"





"when I look at the current picture of expected tax revenues combined with benefits promised to future generations, this is the most unsustainable situation I have seen ever in my career." The disaster that Druckenmiller sees coming for the United States is all about changing demographics and entitlement spending. They don’t add up to a sustainable situation. Fixing this is going to require some real sacrifice by the American people and that doesn’t sound like a very appealing platform upon which to get re-elected.

 
Tyler Durden's picture

Gold Soars 16% In Q1 - Best Start To A Year In 42 Years





Gold's 16.1% surge in Q1 2016 ias the best start to a year since 1974. Overall, this is the best quarter since Q3 1986 and is the best performing major commodity of the year. Gold rallied this year as it cemented its status as a store of value amid financial market turbulence and concern about the global economy, which led to speculation that the Federal Reserve would pause on tightening monetary policy in the U.S. Having seen BlackRock's gold ETF halted due to inability to meet physical demand, it appears pet rocks and barbarous relics are 'worth' something after all.

 
Steve H. Hanke's picture

The Hong Kong Dollar: A Speculators Graveyard





Authored by Steve H. Hanke of The Johns Hopkins University. Follow him on Twitter @Steve_Hanke.

Since 1983, when Hong Kong adopted its currency board system, speculative bets against the Hong Kong dollar (HKD) have ended in the graveyard. Just ask Bill Ackerman. He bet the house in a 2011 attach on the HKD, and he lost big. Now, it’s reported that the likes of George Soros and Kyle Bass are rolling the dice against the HKD. They will lose, too.

 
Tyler Durden's picture

This Is What Wall Street Thinks Of China's FX Trading Tax





Last night we reported that the PBoC is now considering a Tobin tax on FX transactions. The follows reports that a series of big name money managers - or, as China calls them “predators,” and “crocodiles” - have placed outsized bets against the yuan. Here's what analysts think of the PBoC's latest move to crush the "speculators."

 
globalintelhub's picture

Making Sense of Cents





Forex remains to be the largest market in the world and the least understood.  Central banks have more influence on global markets than any other force.  In other words, monetary policy is the ONLY economic indicator(s) investors should be watching, because let's face it, if the Fed raised rates to 10% like they should do and called in all that QE money, stocks would collapse.

But yet Forex remains a mystery, something that someone may have mentioned or you heard about.. wait FX is a TV channel?  or graphics?  a movie?

 
Tyler Durden's picture

Having Killed Their Equity Market, China Unleashes "Tobin Tax" For FX Market





In September last year, Chinese regulators stepped on the throat of a 'fair' market in equity futures trading and for all intent and purpose killed the Chinese equity market. Tonight - after 2 days of Yuan weakness - having warned everyon from Soros to Kyle Bass that "betting against the Yuan can't possibly work," The PBOC just unleashed plans for so-called "Tobin Tax" on FX transactions (which implicitly taxes each transaction, reducing liquidity, raising margins and reducing leverage).

 
Tyler Durden's picture

China: A 5-Year Plan And 50 Million Jobs Lost





China never had an actual economic model or growth model. It simply printed an obscene amount of money, especially after 2008, and used it to build factories, 30-storey see-through apartment blocks and highways into nowhere cities, without giving much if any thought to where this would lead when their formerly rich western customers had less to spend on its ever increasing amount of ever more useless products. It was "to infinity and beyond" from the start, but that’s a line from a kids’ fantasy story, not a 5-year plan or an economic model.

 
Tyler Durden's picture

Japan Braces For A "Turbulent, Volatile" 10-Year Auction With First Ever Negative Yield On Deck





"We expect the10y JGB auction on the 1st to be a new issue with a 0.1% coupon, but auction yields are likely to go into negative territory. We do not expect the bank sector to buy, and demand from dealers and foreign investors is unlikely to provide sufficient support. We expect the auction to be turbulent given investors are also unlikely to short futures and the possibility of a tail. "

 
Tyler Durden's picture

Why A Hedge Fund Manager Who Made A Killing From Subprime Is Buying Bitcoin





"Bitcoin is interesting to me as a route for capital flight. I am not opining on the long-term viability of bitcoin - I do think there is something there - but I am long bitcoin specifically to capture capital flight from China."

 
Syndicate content
Do NOT follow this link or you will be banned from the site!