COMMENT: Just quizzed the Canadian Bank insurance CDIC. It is obvious they do not have a specific time period in which to pay claims. Kept dancing around the specific question but they said they pay cash accounts ASAP so people can pay bills. Bottom line, contagion will destroy all financial obligations and transactions. REPLY: No […]

  COMMENT: I’m sure you are aware but just highlighting that the ‘Assumption’ goes deeper than personal bank accounts, as this is ALSO the assumption taken by the clearers too! They assume that if one CCP fails then the others just pick it up. Obviously, given that then the stress tests are taken just for one bank […]

  QUESTION: Mr. Armstrong; Your post of November 16th where you state that the ECB is looking to freeze accounts in a banking crisis, does that mean they will no longer honour the claimed insurance of €100,000 per account? PH ANSWER: No. They will not pretend to eliminate that insurance, they just will “suspend” it […]

It has come to our attention that there are individuals soliciting clients for money to trade on their behalf claiming they have mastered our system and will use it. These people have NEVER managed money and handing them money is no different than asking a cab driver to conduct surgery on you because he sounds like […]

Chancellor Angela Merkel said on Monday her efforts to form a three-way coalition government had failed. Merkel only received 32.5% of the vote, which is probably the lowest vote of any major world leader. The FDP pulled out of negotiations thrusting Germany into a political crisis and ever closer to a possible new election. Meanwhile, […]

  The tax reform bill passing the US House yesterday certainly added to sentiment, after great earnings releases for markets but Asia need more help for cash today. Having opened strong all core markets then drifted and even saw the Nikkei trade negative. For the week it closes down 1.3% which has broken a two […]

Subtly, the EU is looking to establish preparations for the coming banking crisis and how to protect the banks from massive withdrawals. The solution? The EU wants to be able to temporarily free up credits for the banks and at the same time to freeze bank deposits, In other words, like Greece, you just won’t be able […]

Asian cash responded to the US news of possible Tax Plan delays and we saw profit-taking and nerves for the first time in a while. Interesting that this has occurred on our November temporary pause expected. The Nikkei has returned -0.8% which has added to yesterdays decline but is falling from the 26 year high. […]

Finally we saw a little profit-taking in the Nikkei today, after having touched 26 year highs in earlier trade. The sell-off was not so much but felt more after spending the majority of the day in positive territory. The Yen moved stronger but that was later in the trading day after news of possible delays to 2019 […]

Although Asia closed with pretty much a mixed session, it really does not explain the mood or sentiment. Yes, the Nikkei closed lower on the day (-0.1%) but after opening lower and a brief dip thereafter, for the balance of the day the market was bid and closed just below unchanged. Major stocks driving the […]