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Quantity Theory of Money (QTM) & Its Failure

QUESTION: I am most interested in your revisionist view of QTM. You debunk QTM frequently within broader topic discussions, but I’d love for you to address...

The Ban on issued Coins that Commemorated Waterloo

QUESTION: Wrote said that under the EU organization, the French insisted there would be a prohibition against issuing any coin that commemorated Waterloo. Can you...

Refugee Migration Will Keep Wages Suppressed in Europe

QUESTION: Mr. Armstrong; Here in Germany, one obvious consequence of the refugee migration has been that wages are declining for low-end jobs. I believe you had...

Market Talk- January 22, 2018

We opened the week with a quiet, low volume Monday but with plenty of central bank activity scheduled to look forward to. Given the US shutdown started midnight...

Do Commitment of Traders & Inventories Really Matter?

QUESTION: Do you think that the Commitment of Traders and reported inventories are relevant to gauge market performance? ANSWER: The oldest game in town is...

Central Bank Reserves – The Rise of the Yuan

QUESTION: Mr. Armstrong; I understand that your model shows that China will become the dominant economy post-2032. The IMF added the yuan to their SDR basket. Are...

Why the Dollar is the Mainstay of the World Economy

QUESTION: A friend told me the one pound coins I have from a trip to Britain last year were canceled. How can a government simply cancel its money? KL ANSWER: Oh...

RULE #1 – Never Marry the Trade

COMMENT: Mr. Armstrong; The goldbugs hate you for calling the top and a bear market. To my surprise, I searched Money Week here in London and it came up with an...

Dollar Manipulation by China & Japan?

The two largest foreign holders of the US debt, China and Japan, reduced their holdings of US government bonds in November compared to October. While many are...

Government Shutdowns – Just Politics?

The Trump was preparing for at least a weekend-long partial government shutdown Friday night, expressing little confidence that Congress could pass a bill by the...