QUESTION: Mr. Armstrong; What is your take on the Supreme Court corruption ruling? ANSWER: Actually, under strict construction, I would have to agree with this one.  The statute actually provides that when a public official is paid to influence an “official act” in exchange for cash, loans, or gifts then it becomes a crime. However, an […]

QUESTION: Mr. Armstrong; Why did Comey not present this matter to the grand jury? Isn’t it the role of the grand jury to decide to indict or not? ANSWER:The rules for a grand jury have been altered to the point that they have been reduced to a rubber stamp. Nevertheless, FBI Director James Comey had to […]

Since the publication of the Panama Papers, the assets of the wealthy from around the world have been flowing into United States at a sharply increased pace. Tracking capital flows has revealed that capital outflows of liquidity from the EU have distinctly accelerated. The United States is definitively becoming the replacement for Switzerland. The IRS has even […]

QUESTION: Dear Mr. Armstrong, I am really confused regarding long-term interest rates – I had thought they were controlled by the markets – but it seems at time that the central banks control them by buying the governments debt. Can you shed some light on this? Can the central banks just keep printing and buying […]

The euro closed for June on the cash feed at 11095, which was just a hair under the May low of 11098. This is not a Reversal, but merely a technical indication of weakness. Support during July lies at the 10880-10810 area, and resistance begins at 11220 and 11440 with the major technical resistance way […]

With the exception of the firmer Hang Seng (+1.75%), core Asia was pretty much mooted. The big news today was BREXIT again when Boris Johnson withdrew his name for potential Conservative Leader. This comes on the tail of Michael Gove declaring his willingness to throw his hat in the ring. Markets were firmer (around +0.5%) […]

QUESTION: Hi Marty, Will future rate hikes from the Fed cause banks to move more money out of the Fed and into the commercial banking system, creating inflation? Thanks Jack ANSWER: No. Future inflation will not be demand driven, but asset driven. Retail participation, both in the States and from Europe, in the US share […]

The Nikkei had a poor start but finished better as did Shanghai. HSI closed a little lower (-0.3%) but well up from opening levels. Europe was the main talking point yet again today and with a healthy bounce in both currencies and equities; many people spoke of nothing else. After suffering two awful days, we […]

  While everyone is busy blaming the Brits, the real culprit is the EU. The audacity of various EU ministers demanding immediate withdraw is akin to a spouse who just discovered their partner was cheating. They may say beware of a woman scorned, well it looks like this applies to male politicians as well. The […]

  The pound sterling had a smashing day ranging between 15016 and 13226; penetrating the 2009 low of 13508 as well as the 2001 low of 13680. That leaves the prior low that formed in 1985 of 10520 on the cash (103 futures). This is rather important for it implies that we should see that […]