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Tag Archives: currencies

Transitory or Not, Inflation Is Here. It Could Be Much Higher Than You Realize

I’ve been writing about the possibility of higher inflation for months, and now it looks to have finally made landfall. The headline consumer price index (CPI) came in at 5% year-over-year, the highest in over a decade. The real rate is likely even higher. Energy commodities, and gasoline in particular, jumped the most of any other measured item. Energy increased 54.5% year-over-year, gasoline 56.2%, as oil prices hit multiyear highs this week on strong travel demand. A barrel of West Texas...

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Currencies Rally Overnight…

A Pfennig For Your Thoughts January 19, 2021 * Is the dollar buying over? * Chuck explains Gold manipulation… You don’t want to miss this!  Good Day… And a Tom Terrific Tuesday to you! How was your 3-day weekend, that is for those of you who got to have a 3-day weekend? It was a good thing that I had scheduled yesterday a day off last week, because I woke up in the middle of the night (Sunday night) with woeful stomach problems, that carried on into the morning… Chemo does this to me...

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The Dollar Gets Sold Like Funnel Cakes At A State Fair!

A Pfennig For Your Thoughts December 16, 2020 * Currencies drift on Tuesday, but rally overnight* Dollar weakness leads to rallies for Gold & Silver…  Good day… And a Manfred the Wonder Dog Wednesday to you! BRRR… it’s cold outside! I can’t wait to get down to S. Florida for the winter. I told Kathy last night that it appeared we could be spending a longer time in Florida this winter, as Major League Baseball is considering starting Spring Training games in April. They want all players,...

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Traders Finally Pick A Lane, But They Pick The Wrong One!

A Pfennig For Your Thoughts October 14, 2020 * Currencies, metals, Oil, stocks all get sold yesterday * If inflation rises, how does a Central Bank Combat that?  Good Day… And a Wonderful Wednesday to you! We’re in our second day of warmer than usual weather today, and then the bottom falls out tomorrow… So, I’ll need to get outside today to soak up some warm sun before the cold front comes through… I’ve always said that the Fall weather was the best weather we get here in the St. Louis...

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Debt Accumulation Is The Dagger For Currencies…

A Pfennig For Your Thoughts May 18, 2020 * Currencies lose ground last week…  * Gold & Silver are gapping higher…  * And Chuck changes his mind….  Good Day… And a Marvelous Monday to you! It was a long weekend for me, but then weekends are meaningless to me these days, as all days seem the same to me… At least before COVID-19, I could look forward to Fridays, when I would meet my friends at my local watering hole… We’ve tried to hold happy hour on Zoom, but it’s just not the same…...

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Where’s The Mousetrap?

A Pfennig For Your Thoughts January 16, 2020 * Currencies continue to inch upward on Wednesday…* Chuck & Dennis talk… that’s not a good thing for the Fed! Good day… And a Tub Thumpin’ Thursday to you! It’s been awhile, with the holidays and vacations, since I wished you a Tub Thumpin’ Thursday! But here I am… I’m ready to rock you like a hurricane! I could get in trouble down here saying that “h” word… They’re very sensitive about that here on the east coast! Well, I made my way to the...

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Upon Further Review… Jerome Powell Speaks Today!

A Pfennig For Your Thoughts July 10, 2019 * Currency Traders are waiting for Powell’s speech today * Chuck throws out a number for Gold, should things change… Good Day… And a Wonderful Wednesday to you! OK, OK, so I was wrong about the day Powell was supposed to speak! It wasn’t yesterday, it’s today! That’s what I get for glancing at the economic data calendar and not focusing on it! Well, did you enjoy the All-Star Game last night? I went to bed long before it was even getting close to...

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The Global Distortions of Doom Part 1: Hyper-Indebted Zombie Corporations

It’s funny how unintended consequences so rarely turn out to be good. The intended consequences of central banks’ unprecedented tsunami of stimulus (quantitative easing, super-low interest rates and easy credit / abundant liquidity) over the past decade were: 1. Save the banks by giving them credit-money at near-zero interest that they could loan out at higher rates. Savers were thrown under the bus by super-low rates (hope you like your $1 in interest on $1,000…) but...

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More Slumping Durables In August—–The New Abnormal

Durable goods continue to suggest a weak economy that only seems to remain in that state. Year-over-year, unadjusted estimates for new orders rose slightly for the first time since May, while seasonally adjusted total orders (including the transportation sector) were fractionally lower at $226.9 billion. That amount was 2% less than January 2016 and 4.3% below August 2014. Once again we find that the seriousness of the slump is not defined by its depth but its length, especially since there...

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Good Job, Mario! NIRP Slams Commerzbank And 9,000 Jobs

On August 31, 2008, Germany’s Commerzbank announced that it was purchasing ailing rival Dresdner Bank from Allianz SE. As usual, however, the deal wasn’t described in those terms as nothing ever is so honest in public. Then-Allianz CEO Michael Diekmann said at the time of the announcement: As a strong bank, the new company can safeguard jobs in the long term. With a stake of nearly 30 percent Allianz will be the largest shareholder of the new bank and will gain access to a powerful...

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