Tag Archive: money

Switzerland Opens Door To Bitcoin Asset-Management Business

2017-07-16

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2017-07-16

Falcon Private Bank
Bitcoin and other cryptos have fallen sharply over the past month in a shakeout that saw some of the early longs decide to take their winnings and walk away. But a 20% drop from the all-time highs hasn’t done much to temper wealthy investors interest in bitcoin and other cryptocurrencies as alternative investments potentially worthy of diversification.

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Unveiling the Silver in the LBMA London vaults

2017-07-09

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2017-07-09

Pallet
Sometime in the coming days, the London Bullion Market Association (LBMA) plans to begin reporting the amount of real physical gold and silver that is actually stored in the network of LBMA vaults in London. This follows an announcement made by the LBMA on 8 May.

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Goldman, Citi Turn Positive On Gold – Despite “Mysterious” Flash Crash

2017-06-28

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2017-06-28

Gold in USD, June 2017
Gold in USD - 1 Week - Massive selling at 0400 EST when U.S. markets closed and thin trading amid holidays in Muslim countries including Turkey, Singapore and Malaysia. - Mystery is that "fat fingers" in gold market are always sell trades that push prices lower

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Central Banks Buying Stocks Have Rigged US Stock Market Beyond Recovery

2017-06-27

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2017-06-27

Central banks buying stocks are effectively nationalizing US corporations just to maintain the illusion that their “recovery” plan is working because they have become the banks that are too big to fail. At first, their novel entry into the stock market was only intended to rescue imperiled corporations, such as General Motors during the first plunge into the Great Recession, but recently their efforts have shifted to propping up the entire stock...

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“It’s A Perfect Storm Of Negativity” – Veteran Trader Rejoins The Dark Side

2017-06-16

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2017-06-16

After many months of fighting all the naysayers predicting the next big stock market crash, I am finally succumbing to the seductive story of the dark side, and getting negative on equities. I am often early, so maybe this means the rally is about to accelerate to the upside.

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Key Events In The Coming Busy Week: Fed, BOJ, BOE, SNB, US Inflation And Retail Sales

2017-06-13

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2017-06-13

Known Unknowns
After a tumultous week in the world of politics, with non-stop Trump drama in the US, a disastrous for Theresa May general election in the UK, and pro-establishment results in France and Italy, this is shaping up as another busy week ahead with multiple CB meetings, a full data calendar and even another important Eurogroup meeting for Greece.

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New Gold Pool at the BIS Switzerland: A Who’s Who of Central Bankers

2017-06-13

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2017-06-13

Bank for International Settlements (BIS) Headquarters
A central bank Gold Pool which many people will be familiar with operated in the gold market between November 1961 and March 1968. That Gold Pool was known as the London Gold Pool.

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Is the Central Bank’s Rigged Stock Market Ready to Crash on Schedule?

2017-06-12

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2017-06-12

We just saw a major rift open in the US stock market that we haven’t seen since the dot-com bust in 1999. While the Dow rose by almost half a percent to a new all-time high, the NASDAQ, because it is heavier tech stocks, plunged almost 2%.

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Negative Rates: The New Gold Rush… For Gold Vaults

2017-06-09

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2017-06-09

Negative interest rates and the populist uprising that spurred the UK to vote for Brexit and Americans to elect Trump has helped reignite a rush into physical safe haven assets like gold and silver, which however has led to a shortage of safe venues where to store the precious metals (unlike bitcoin, gold actually has a physical dimension).

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The Internet Helped Kill Inflation In America, Says Credit Suisse

2017-06-02

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2017-06-02

Burkhard Varnhlot
Whether or not San Francisco Fed President John Williams is right about US inflation and employment being about as close to the central bank’s targets as investors have seen - as he told CNBC two days ago - is irrelevant: The central bank is going to raise interest rates two more times this year no matter what happens to consumer prices, says Credit Suisse Chief Investment Officer for Switzerland Burkhard Varnholt.

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How The US Government Let A Giant Bank Pin A Scandal On A Former Employee

2017-05-12

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2017-05-12

UBS Zurich
The following is an excerpt from David Enrich's nonfiction financial and legal thriller The Spider Network: The Wild Story of a Math Genius, a Gang of Backstabbing Bankers, and One of the Greatest Scams in Financial History. (Read part of the prologue here; another excerpt can be found here) This excerpt takes place shortly after the accused mastermind of the Libor scandal, Tom Hayes, is fired from his job at Citigroup, kicking government...

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SocGen: Beware The Ghost Of 1993

2017-05-12

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2017-05-12

The Vix is at its lowest level since 1993, Commodities and rates are dragging the AUD down
With Monday's financial media blasting reports about the VIX collapse to levels not seen in 24 years, going all the way back to 1993, it is worth remembering that the near record low volatility collapse of 1993 did not end well either for stocks, or for bonds, with the great 1994 bond tantrum. Reminding us of that, and of broader implications for the cross-asset space, is SocGen's Kit Juckes with his overnight note, "The ghost of 1993"

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A Problem Emerges: Central Banks Injected A Record $1 Trillion In 2017… It’s Not Enough

2017-05-11

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2017-05-11

Aggregate Balance Sheet Of Large Central Banks, 2000 - 2017
Two weeks ago Bank of America caused a stir when it calculated that central banks (mostly the ECB & BoJ) have bought $1 trillion of financial assets just in the first four months of 2017, which amounts to $3.6 trillion annualized, "the largest CB buying on record."

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This Is Not Expansion

2017-05-06

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2017-05-06

Real GDP Trends 2011-2017
Back in October, the Bureau of Economic Analysis released GDP figures that suggested what those behind “reflation” had hoped. After a near miss to start 2016, the economy had shaken off the effects of “transitory” weakness, mainly manufacturing and oil, poised to perform in a manner consistent with monetary policy rhetoric.

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To The Asian ‘Dollar’, And Then What?

2017-04-27

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2017-04-27

TIC - US Banking Data Claims On Foreigners, February 1979 - February 2017
The Bretton Woods system was intentionally set up to funnel monetary convertibility through official channels. The primary characteristic of any true gold standard is that any person who wishes can change paper claims into hard money. It was as much true in any one country as between those bound by the same legal framework (property).

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Where There’s Smoke…

2017-04-25

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2017-04-25

Evolution of Atlanta Fed GDP, December 2016 - April 2017
Central banks around the world have colluded, if not conspired, to elevate and prop up financial asset prices. Here we'll present the data and evidence that they've not only done so, but gone too far. When we discuss elevated financial asset prices we really are talking about everything; we're talking not just about the sky-high prices of stocks and bonds, but also of the trillions of dollars’ worth of derivatives that are linked to them, as well...

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Optimal Lunacy

2017-04-15

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2017-04-15

Federal Funds Rate 2010-2018
In June 2012, Janet Yellen, then the Vice Chairman of the Federal Reserve, addressed an audience in Boston with what for the time seemed like a radical departure. It was the latest in a string of them, for conditions throughout the “recovery” period never did quite seem to hit the recovery stride. Because of that, there was constant stream of trial balloons suggesting how the Federal Reserve might try to overcome this economic inertia. At that...

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SNB Spent $68 Billion On Currency Manipulation In 2016

2017-03-24

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2017-03-24

SNB Intervention, 2010 - 2017
While Donald Trump has repeatedly expressed his displeasure with China for manipulating its currency, he appears to have recently figured out that over the past 2 years Beijing has been spending hundreds of billions in dollar to strengthen, not weaken, the Yuan and to halt the ~$1 trillion in capital flight from China.

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Digital Gold – For Now Caveat Emptor

2017-03-20

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2017-03-20

Bitcoin Gold, 2012 - 2017
Bitcoin surpasses gold price - a psychological and arbitrary headline. Royal Mint blockchain gold asks you to trust in the UK government. Royal Canadian Mint and GoldMoney blockchain product asks you to trust in government and the technology, servers, websites etc of the providers. Invest in a gold mine using cryptocurrency - but wait until 2022 for your gold and trust the miners that it is there. Blockchain and gold will likely make a "good...

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CS and UBS Tell Wealthy Retail Clients To Buy Stocks…”Here, Can You Please Hold This Bag”

2017-03-17

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2017-03-17

BofA Client, 2008 - 2017
Warren Buffett has frequently advised aspiring investors to take a contrarian view on markets and "be fearful when others are greedy and be greedy when others are fearful." In fact, being dismissive of the wall street 'herd mentality' has resulted in some of Buffett's most successful trades over the years including his decision to load up on bank stocks during the 'great recession'.

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