Recession Incoming or Something Worse? 2/10 Spread Collapses

UPDATE: Now stocks are selling off and the 2/10 spread is less than 10 basis points.  Gold, however, refuses to sell off while the euro pulls back versus the dollar. Mike Shedlock over at Mishtalk noted yesterday that there have been a couple of troubling inversions in the U.S. yield curve recently.  They happened in … Continue reading Recession Incoming or Something Worse? 2/10 Spread Collapses

For Russia Change Comes SWIFT

During the ruble crisis of 2014/15 Russia announced in the wake of U.S. and European sanctions over reunifying with Crimea that it would begin building a domestic electronic financial transfer system, an alternative to SWIFT. That system, System for Transfer of Financial Messages (SPFS), is not only now functioning in Russia, according to a report from … Continue reading For Russia Change Comes SWIFT

How to Invite a Crisis – Turkey Provokes Asian Realignment

Turkey has declared independence from Washington D.C.   The post-World War II international order is reaching the end of its shelf life.  With every day that passes where President Erdogan is not removed from power or Turkish banks don't fail, is another day for Turkey to shake its fist at the U.S. for its fomenting a … Continue reading How to Invite a Crisis – Turkey Provokes Asian Realignment

Is the End of Facebook Nigh?

Last fall I warned you Facebook has a fundamental problem. More and more people were realizing it and it would have an effect on the company's business going forward. Here's the jist of it: ...the biggest problem with Facebook is it’s all fake intimacy; a pale simulacra of real life interactions with people you are supposed … Continue reading Is the End of Facebook Nigh?

Private Blog: Trump’s Trade War Taking Hold

I have a new Private Blog post up for my subscribers on Patreon discussing how the markets are finally beginning to react to Trump's trade war. If you’d like to subscribe to the Private blog head over to my Patreon to sign up for it and the Gold Goats ‘n Guns Investment Newsletter. 

Draghi Trapped, Euro Slapped, Gold and Silver Uncapped

Mario Draghi finally admitted he is trapped.  There is no exit from his negative interest rate policy that doesn't end in tears.  Now that he has a political reason to be dovish, Trump's aggressive trade and tariff policy towards the EU, he did so this morning. The latest policy statement from the ECB is a … Continue reading Draghi Trapped, Euro Slapped, Gold and Silver Uncapped

Salvini is the Real Deal in Italy’s Fight With Brussels

The latest moves by leader of The League, Matteo Salvini, confirm for me that he is the real deal. By nominating another hard-ass Euroskeptic as Finance Minister, Giovanni Tria, Salvini proves he's not some feckless (the word of the day apparently) swamp-dweller.  Rather, he's a smooth and dangerous political opponent for the powers-that-be in Brussels. … Continue reading Salvini is the Real Deal in Italy’s Fight With Brussels