It was all too weary early this morning with Asian markets collapsing as oil prices hit session lows of $29.25 (WTI) and the Shanghai Index closed down 6.4%. News intraday that the PBOC had conducted its biggest daily open market operation in three years (360bn yuan) still could not turn the mood. The majority of […]

QUESTION: Mr. Armstrong; I have not read anywhere else how the money created by the Fed you call elastic will evaporate when the bonds they bought mature. You seem to do much more in-depth research than anyone else who just spins conspiracy theories leaving one question what is real or not. Can you elaborate on […]

As they say: “What a difference a day makes”. Dealers were telling us yesterday that they left the sentiment had changed for whatever reason they were calling this one, the Mario Move. Continuing its overnight run into Asian trading eventually easing above the $30 mark it gave the Equity dealers the comfort to take stocks […]

The People’s Bank of China held a seminar yesterday to discuss the issuance of a digital currency. The Chinese central bank said issuing a digital currency would have positive implications as it would reduce the high printing and circulation costs of traditional cash notes, make economic transactions more convenient and transparent, reduce money laundering and tax […]

Well, today was fun! Asia suffered from the start with heavy selling across the board. Both the Nikkei and HSI closed down almost 4% with Shanghai losing just 1%. Most blamed the IMF down-sizing its growth forecast (from 3.6 to 3.4%) but obviously, the oil price is never far from everyone lips. With WTI closing […]

Goldman Sachs is finally paying a price (money) for the role it played in the 2007 mortgage scandal, but of course, nobody is going to jail, which proves that Goldman remains above the law. The Wall Street firm agreed to only a civil settlement of up to $5 billion with federal prosecutors and regulators arising from its marketing and selling […]

Portugal is starting to bail-in banks. The fascinating aspect that nobody seems to see is that this is a total failure of socialism. The U.S. Federal Reserve was formed in 1913, with the shareholders being the banks, to provide the cash needed to prevent bank failures. To stimulate the economy when the banks could not […]

There was a time when a 2% price swing used to be something to write about! Asia returned a mixed session with the Nikkei (-2.6%) handing back most of yesterday’s gains. The Shanghai (+2%) recovered late in afternoon trading and finally the HSI (-0.56%) was way off of the opening lows. Early data in Japan […]

It has been only a matter of time. The U.S. Treasury will begin tracking high-end real estate to see where the money comes from because many properties are selling for CASH without mortgages. The news release on January 13, 2016, states: The Financial Crimes Enforcement Network (FinCEN) today issued Geographic Targeting Orders (GTO) that will […]

Asia started weak (again), not China, but the Nikkei (-1%) and HSI (-1%). China actually performed better (+2.27%) with dealers quoting the off-shore FX weakness as a consequence. The yuan (off-shore) lost around 1% to close at a low of 6.7315 (a five-year record low). Obviously, North Korea’s claim that it has successfully carried out […]