Exactly 50 years has passed since the US Government famously suspended the convertibility of US dollars into gold on 15 August 1971 in a speech announced by then US president Richard Nixon.
This convertibility of US dollars into gold applied to US dollars held by foreign governments and foreign central … > weiter lesen
“…. Die Welt bewegt sich auf eine neue geldpolitische Ordnung zu. Sie kann schneller mit dem neuen System umgehen lernen als einst nach dem Nixon-Schock. mehr hier
Nackte Panik scheint auf den Etagen der Notenbanken zu herrschen. Denn sie haben die Geldschwemme so weit getrieben, dass nun alternative, private Währungen zu Hunderten aufschießen und sich als das bessere Geld anbieten. Und weil die Notenbanken diese technisch autonomen, auf Blockchain laufenden Privatwährungen nicht beeinflussen können, werfen sie sich … > weiter lesen
For those who are wondering why asset prices are continuing higher and if they will continue, here is your answer. It is a myth that markets are driven by supply and demand. Markets are manipulated and the Fed controls the money supply. When the Fed creates Trillions of dollars, that … > weiter lesen
We’re told we’re on the road to economic recovery. The $1.9 trillion stimulus is all we need to get us over the hump. But the truth is, Americans started spending like they were over the hump months ago. In fact, American consumers high on stimulus have been on a spending … > weiter lesen
We have entered a period the likes of which we have never seen before. The collapse of the dollar and dollar assets is growing increasingly certain by the day. The money-printing of the dollar designed to inflate assets will end up destroying the dollar. We know this thanks to the … > weiter lesen
If you’re over 40 you’ve lived through at least three epic financial bubbles: junk bonds in the 1980s, tech stocks in the 1990s, and housing in the 2000s. Each was spectacular in its own way, and each threatened to take down the whole financial system when it burst. But they … > weiter lesen
The Federal Reserve and the confederation of central banks which follow Chair Powell and his lieutenants at the Eccles Building have flooded the world with fiat script which is only limited by Keynesians’ and modern monetary theorists’ imaginations. In this flurry of metaphorical printing, one country, Russia, has loaded its … > weiter lesen
“…… Die dauerhafte Zerstörung von Gesamtangebot und -nachfrage und der grundlegende Wandel der Verhaltensnormen erinnern an Muster im Gefolge früherer Pandemien. Ein Kommentar von Stephen S. Roach, hier
The Federal Reserve’s official target rate of inflation is 2% per year. Put another way, that means that if the Fed hits its target, the value of today’s dollar will only be worth around a third of its current value in 50 years. Think that can’t happen? It already has. … > weiter lesen