Welcome To The Currency War, Part 23: Europe Will Devalue Or Dissolve
No rest for the wicked. With the shockwaves from Brexit and President Trump still reverberating around the world, the established order is bracing for more
No rest for the wicked. With the shockwaves from Brexit and President Trump still reverberating around the world, the established order is bracing for more
You read that right. Not only is Italy selling 50-year bonds, but people are lining up buy them. Italy’s first 50-year bond sale had huge
Deutsche Bank, Commerzbank, the Italian banks…it’s getting ugly across the pond, and the worst is yet to come. Here’s a brief look at the reasons
In the sound money community it’s generally understood that abandoning the last vestige of the gold standard in 1971 gave major countries effectively-unlimited credit cards
Brexit looked like the end of the world — until people figured out that central banks would have to ease in response. Then markets turned
Now the real fun begins. Last night Britons voted to leave the European Union, sending shock waves around the world — though not directly or
The theory was pretty straightforward: push interest rates down far enough — in some cases to negative territory where borrowers actually turn a profit on
If easy money has stopped working, then what’s left? Massive deficits, of course. Pressure is building on governments around the world to increase spending and
The Bank of Japan and European Central Bank eased recently, which is to say they stepped up their bond buying and/or pushed interest rates further
ECB chair Mario Draghi delivered big-time this morning by announcing lower interest rates and a new round of debt monetization. Historically, this kind of thing
Over the weekend, the following happened: China’s exports and imports fell by 11.2% and 18.8%, respectively, numbers which, for a trading power, are nothing short
So far, each financial crisis in the series that began with the junk bond bubble of 1989 has been noticeably different from its predecessors. New
Let’s start with the latest on the global descent into negative interest rates: Fed would consider negative rates if economy soured – Yellen (Reuters) –
Wow. Portugal just did something extraordinary. In its most recent election, parties of the left — anti-austerity, anti-business, mistrustful of the euro and other extra-national
New Age monetary policy has begun to resemble the form of insanity in which a patient repeats the same behavior while expecting a different outcome.
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