QUESTION: Why do you say the banks do short-term manipulations but not constant manipulations? ANSWER: Because it is absurd. There is no profit in perpetual manipulation. Every single manipulation they have ever done in the metals has been to the upside because they know it is easier to get people to buy. This is all […]

The ECB does not reveal in detail its QE and most people have no idea that its asset-backed securities (ABS) and covered-bond purchases are actually carried out by private asset managers: ING Investment Management, Deutsche Asset & Wealth Management International, State Street Global Advisors, and Amundi. These asset managers intervene into markets on orders by the […]

We tend to judge far too much by our own times. What cannot be overlooked is the lack of mathematics following the Dark Ages. When numbers were Roman numerals, calculation and bookkeeping were not supportive of international accounting. Interestingly enough, as pornography enabled video streaming, it was gambling that gave birth to mathematics. Vices often […]

The huge difference between the USA and Europe happens to center on the criminal trial of Sir Walter Raleigh. After the death of Queen Elizabeth on March 23, 1603, Raleigh was arrested and imprisoned in the Tower of London within months on the 19th of July. Raleigh was tried in the Great Hall of Winchester Castle […]

The Dow has been electing Daily Bullish Reversals since the start of October. Given the fact that the DAX did break last year’s low on the ECM target and turned up, we may be looking at the breakout to the upside next year for the phase transition. Our original forecast for the peak in share […]

Welcome to this year’s World Economic Conference marks our 30th anniversary since the first in 1985. Ironically, it is being held across the street from where our first conference was held. This year will be special as over 600 people are attending this conference in the USA, and a similar number will be joining us in Berlin. […]

Merkel’s refugee policy has really divided Europe, no less her own country. This issue appears staged to bring about her downfall. It was 17 days ahead of the ECM turning point on September 13 (2 x 8.6) when Merkel reimposed border controls; the cornerstone of Europe was to be the freedom of movement. She has […]

Last February, we warned that the Schengen Agreement, which allows the freedom of movement within Europe, would come to an end. This crazy idea of allowing millions of refugees from a completely different culture to enter Europe will be its undoing. The suspension of Schengen by Germany is the beginning of the end.

Asian equity markets were strong ahead of the US data with the Nikkei closing a promising week up 150pts (+0.8%) and Shanghai up 66pts (+1.9%). Worth noting this evening is that the Nikkei futures have built upon today’s cash gains and are currently up an additional 190pts at 19,480 (+1%). Europe failed to participate following the […]