Reserve Currency

Jeffrey Snider: All Signs Point To Systemic Reset

"... what’s happened in stocks is more a myth than actual reality. Investors in stocks are buying at ridiculous valuations based on the premise that the Fed can create a recovery through liquidity. And what 2014 and 2015 show us is that this simply wasn’t true! ...the longer the earnings recession lingers, the higher the risk that stock investors will realize that they’ve been following the wrong story all along!"

Carl Icahn Turns Apocalyptic: "I Am More Hedged Than Ever, A Day Of Reckoning Is Coming"

"I have hedges on, I'm more hedged than I ever was. [The market] is way overvalued at 20 times the S&P and I'll tell you why: a lot of it is a result of zero interest rates. That's going to be hurtThere's going to be a day of reckoning here.  I've seen it many times in my life.  When things look good, they look great.  You go into the sky.  But that's when you have to really pull down and really stop buying."

Futures Rise, Global Stocks Flat After Ugly Chinese Economic Data

One day after all three US indexes hit record highs for the first time since December 31, 1999, US equity index futures, European stocks and Asian equities are little changed after the Nikkei jumped on the back of a Yen weakness, while China reported disappointing economic data and the PBOC suggested that the flood of new debt is slowing which pushed Chinese stocks higher by 1.6% on hopes of more stimulus.

Is The Donald A Dollar Risk?

The U.S. dollar will weaken sharply if Donald Trump wins the presidential election in November, according to Bloomberg's Mark Cudmore. But it’s less clear if the sell-off has legs beyond his potential inauguration in January.

Moscow, Beijing, & Washington: A Complicated Triangle

The aspirations to global dominance of the American deep state have resulted in pushing China and Russia to adopt a comprehensive shared strategy in which they place at the center of their relations common interests rather than differences. The maneuvers towards de-dollarization are already being conducted. This for Washington is an existential threat that can hardly be ignored. Equally improbable is the possibility of America halting this drift.

Preparing For A World Without Cash

Central bankers throughout the world, from Canada to Ireland, have recently indicated that they might issue digital currency in the future... but, the centralization of banking under this system would also create a Leviathan with the power to monitor and control the personal finances of every citizen in the country.

China's New Silk Road To Make A Big Move In Gold

In short, the New Silk Road is all about building alternatives to U.S. power. Part of that, of course, is displacing the U.S. dollar, the world’s premier currency. So it should be no surprise that China’s New Silk Road project is about to make its first big move in the gold market.

The End Of IMF Credibility (Or Why Christine Lagarde Should Be Fired... But Won't Be)

The IMF’s Independent Evaluation Office (IEO) issued a report a few days ago entitled ‘The IMF and the Crises in Greece, Ireland, and Portugal’. It is so damning for managing director Christine Lagarde and her closest associates, that it’s hard to see, certainly at first blush, how they could all keep their jobs. But don’t be surprised if that is exactly what will happen. Because organizations like the IMF don’t care much, if at all, about accountability. Their leaders think they are close to untouchable, at least as long as they have the ‘blessing’ of those whose interests they serve.

Is Europe Doomed By Vassalage To Washington?

The entire peoples of Europe are Washington’s serfs. Therefore, if Europeans remain the gullible, insouciant, and stupid peoples that they currently are, they are doomed, along with the rest of us. On the other hand, if the European peoples can come to their senses, free themselves from The Matrix that Washington has imposed on them, and revolt against Washington’s agents who control them, the European peoples can save their own lives and the lives of the rest of us.

Why A "Dollar" Should Only Be A Name For A Unit Of Gold

"A general acceptance of the principles of the flexible standard must therefore result in a race between the nations to outbid one another. At the end of this competition is the complete destruction of all nations’ monetary systems."

End Of An Era: The Rise And Fall Of The Petrodollar System

"The chaos that one day will ensue from our 35-year experiment with worldwide fiat money will require a return to money of real value. We will know that day is approaching when oil-producing countries demand gold, or its equivalent, for their oil rather than dollars or euros. The sooner the better."

"The Credit Ponzi Is Dead" - Brexit Or Not, The Pound Will Crash

Status quo, as our generation know it, established in 1945 has plodded along ever since. It is true that it have had near death experiences several times, especially in August 1971 when the world almost lost faith in the global reserve currency and in 2008 when the fractional reserve Ponzi nearly consumed itself. While the recent Brexit vote seem to be just another near death experience we believe it says something more fundamental about the world.