In the latest scandal where five major banks agreed to plead guilty to criminal charges brought by the U.S. Department of Justice for manipulating the foreign exchange rates of the U.S. dollar and euro, only the corporations were changed ­– not the bankers – be they traders or executives. The banks were Citicorp, JPMorgan Chase, […]

Parallel pro-government employees and right-wing demonstrations have been in protest all week in Ecuador. Large numbers President Rafael Correa supporters, who were generally government employees, gathered on Shyris Avenue to confront their rivals whose money they want to steal. Both sides remained largely peaceful for now, as extra police were drafted in to avoid the […]

Seven years ago, ABC News reported a dire forecast on global warming, claiming that scientists predicted that New York City would be under water by June 2015. Well, they also predicted gasoline would be over $9 a gallon and a carton of milk would be almost $13. Well, hope you didn’t have call options on oil, eggs, […]

Rating Agencies Testify Before Congress for their AAA-Ratings after 2007 S&P has issued a warning of a UK downgrade if it exits the EU. Quite frankly, we have reviewed the trade flows and this is purely politics; it is certainly not beyond the possibility that S&P is being told what to do and say, just as they […]

QUESTION: Mr. Armstrong; I was reading Wired and then I read your example of three states of government. I suddenly realized you discovered something that was unbelievable. You constantly mention that everything is complex like an onion. I know you have also a physics background. You talk about chaos and patterns upon patterns. I read […]

Two men have already been arrested in NYC for the newest crime of all – “Manspreading”. “New York, New York” – it sounds so nice in a song.

Here is the Array compile January 9, 1980. We can see that this picked January 21 as the high with a back to back Directional Change. That morning, Gold opened up limit at $875 on the spot closing at $850 after falling to $831. It had been just $597 at the low the week of […]

Obama’s treasonous attempt to strip Congress of all power and to vest all power in the Executive has been blocked today. This was a major accomplishment for retaining some semblance of  a democratic/republican process. Obama’s attempt to have all power vested in the Executive would have allowed him to do whatever he wanted, selling favors […]

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Late headlines yesterday from the IMF spooked early trade in Europe, which saw support for core debt markets. But this “will they, won’t they” (or should I say, “can they, can’t they”) approach has long been a tiresome excuse for dealers and is another reason why liquidity is so poor. The 10yr Tsy/Bund spread remains […]