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Tag Archives: Switzerland

How To Trade Tomorrow’s ECB Meeting

The European Central Bank promised in January to "review and reconsider" its monetary stance this week. The question, as BloombergBriefs notes, is not if policy makers will ease but how. Haruhiko Kuroda's humbling in FX markets shows what Mario Draghi is up against tomorrow: namely, that even the most forceful policy decisions can be overwhelmed by events, positioning, or sentiment. Draghi has a number of options (some more and some less priced in) but most crucially there two...

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Keynes: How A Witch Doctor Convinced The World He’s A Neurosurgeon

Submitted by Nick Giambruno via InternationalMan.com, No matter what ailed you, the doctor had one cure: attaching leeches to your body. In the Middle Ages, doctors used leeches to treat everything from headaches to ear infections, asthma, smallpox, the plague, and hundreds of other diseases. If there was something wrong with you, leeches were the solution. If that didn’t work, the answer was more leeches. Today, modern medicine has discredited leeches as a cure-all. We look back on it...

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Martin Armstrong’s 20-Point-Plan For Donald Trump

Submitted by Martin Armstrong via ArmstrongEconomics.com, I do not advise Trump. If he demonstrated that we need major reform because we are going broke under the management of career politicians, then he might attract more people who are on the fence. Let’s be realistic. Those supporting Trump distrust government politicians. They really do not care about his message. I at least would prefer Trump not for any policy, but any career politician will bring the same line of thinking...

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The Central Bankers’ Greatest Blunder Yet: Negative Rates = Deleveraging

In a world which has long since crossed the monetary twilight zone of negative rates, and which is spiraling ever deeper into NIRP, below we present some quite fascinating observations on debt, NIRP and how the latter leads to the deleveraging of the former, and thus encourages global deflation - something which in retrospect will be (and in many cases already has been) seen as a central bank fatal flaw, and confirmation said central bankers have zero understanding of the process they have...

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The Global Run On Physical Cash Has Begun: Why It Pays To Panic First

Back in August 2012, when negative interest rates were still merely viewed as sheer monetary lunacy instead of pervasive global monetary reality that has pushed over $6 trillion in global bonds into negative yield territory, the NY Fed mused hypothetically about negative rates and wrote "Be Careful What You Wish For" saying that "if rates go negative, the U.S. Treasury Department’s Bureau of Engraving and Printing will likely be called upon to print a lot more currency as individuals and...

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Demand For Big Bills Soars As Japan Stuffs Safes With 10,000-Yen Notes

Earlier this week, we were amused but not at all surprised to learn that Japanese citizens are buying safes like they’re going out of style. The reason: negative rates and the incipient fear of a cash ban. “Look no further than Japan’s hardware stores for a worrying new sign that consumers are hoarding cash--the opposite of what the Bank of Japan had hoped when it recently introduced negative interest rates,” WSJ wrote. “Signs are emerging of higher demand for safes—a place where the interest...

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Citi: “We Have A Problem”

In his latest must read presentation, Citigroup's Matt King continues to expose and mock the increasing helplessness and cluelessness of central bankers, something this website has done since 2009 knowing full well how it all ends (incidentally not in a deflationary whimper, quite the opposite). Take Matt King's September 2015 piece in which he warned that one of the most serious problems facing the world is that we may have hit its debt ceiling beyond which any debt creation is merely...

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Exposing The Hidden Agenda Of Davos 2016

Submitted by Nick Giambruno via InternationalMan.com, “It’s a big club and you ain’t in it!” I’m often reminded of these words, spoken by the great comedian George Carlin, when I read about the annual World Economic Forum meeting in Davos, Switzerland. That’s where the global power elite gather to discuss the big issues of the day. The most important world leaders attend. As do the CEOs of the largest companies, leaders in the mainstream media and top...

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Donald Trump Is Right: Here Are 100 Reasons Why We Need To Audit The Federal Reserve

Submitted by Michael Snyder via The Economic Collapse blog, When a leading nominee for President gets something exactly right, we should applaud them for it.  In this case, Donald Trump’s call to audit the Federal Reserve is dead on correct.  Most Americans don’t realize this, but the Federal Reserve has far more power over the economy than anyone else does – including Barack Obama.  Financial markets all over the planet gyrate wildly at the smallest comment...

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Venezuela’s Gold Liquidation Begins: Maduro Quietly Exports 36 Tonnes Of Gold To Switzerland

Two weeks ago, shortly before noting that Venezuela's CDS is now at the same level where Greece was 3 months before its default, we wrote that as a result of a recently implemented gold swap with Deutsche Bank, Venezuela was preparing to liquidate its remaining gold holdings (ostensibly temporarily, if only on paper) in order to pay down its upcoming debt maturities. As it turns out Venezuela has already started moving much of its gold reserve to Europe where it will be located closer to...

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