“Within our mandate, the ECB is ready to do whatever it takes to preserve the euro. And believe me, it will be enough.” -- Mario Draghi July 26th 2012 No quote better defines Mario Draghi's seven-plus years as the President of the European Central Bank than that quote. Draghi has thrown literally everything at the … Continue reading Super Mario Draghi’s Day of Reckoning Has Arrived
There is a new Private Blog post up for Patrons focusing on the initial fallout of the Fed's dramatic reversal in its communications to the market. This week's report focuses on the monthly closes for gold, the Dow and what's happening across the European bond markets and how the Democrats' collective crazy is helping this … Continue reading Private Blog: The Fed Blinked
Europe's dreams of integration are slipping away as the people wake up from the nightmare erected for them. As we approach Act IX of the Yellow Vest protests in France and the threats of creating bank runs we get the news that both Presidents Trump and Macron will not be attending the convocation of globalists … Continue reading Political Nightmares Multiply for Europe Ahead of Davos
I have two new private blogs up for Patrons. The first is yesterday's video Market Report where we discuss the ramificiations of Trump's announced pull out from Syria and trends within Central Bank activity vis a vis the rising dollar. That's a standard post for $4/month patrons and above. For those who want a taste … Continue reading Private Blogs — The Fed Hikes, Now What?
I have a new 23 minute market report up on Patron for subscribers going over what's happening later today with respect to the vote of No-Confidence against Theresa May over her bungling Brexit. I also cover the happenings in gold, silver, the Dow and the USDX to give you a picture of where I think … Continue reading Private Blog – To Brexit or Not to Brexit
So Angela Merkel is out as leader of the Christian Democratic Union (CDU). In comes Annegret Kramp-Karrenbauer, Merkel's close ally who won the party's support with a very narrow victory over more conservative Friedrich Merz. The goal , as always in Europe, was to maintain the status quo politically. Change needed to change nothing. Brexit negotiations … Continue reading Meet the New Merkel, Same as the Old Merkel
With the markets waking up to the fact that Trump is truly economically illiterate when it comes to tariffs and trade we're seeing a major move in risk-off assets. I have a new Private Blog up for Patrons discussing this. You can access the Private Blog by pledging a minimum of $4/month at my Patreon.
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