QUESTION: Mr. Armstrong, I read that the first monetary crisis in Rome took place 218-202 BC claiming the currency collapsed. I never saw you make such a claim so I had to ask if it was true. ANSWER: No. This was the Second Punic War and was not the result of fiscal mismanagement. Moreover, the […]

Continued speculation that additional official support would be available next week in China supported the Shanghai Stock Index yet again. The strong close (of over +1.3% higher) in Asia has been short-lived as the events in Europe have reversed most, if not all, of today’s move (as seen this evening in futures trading). Initially, all […]

QUESTION: Your energy model turned negative on the daily level just before the rally in the euro. That meant the market was then oversold if I understood your explanations. Thanks for a great conference PK ANSWER: Yes, the fact that we came down to a cluster of reversals not to mention the year pivot at […]

QUESTION: Mr. Armstrong, the rally in the euro and the failure to see a similar move in gold certainly makes this appear to be just a short cover rally. Correct? ANSWER: Yes. This illustrates just how big the short euro position was on the carry trade. The underlying “fundamentals” did not change, in fact they got […]

Mario Draghi at the European Central Bank (ECB) has moved as expected to try to force the Euroland into an economic recovery by cutting a key interest rate on the overnight deposit rate was cut from -0.2% to -0.3%, to compel banks to lend instead of parking money at the ECB. He also extended his ECB […]

  I have been warning that government can do whatever it likes and declare anything to be be a criminal act. In the USA, not paying taxes is NOT a crime, failing to file your income tax is the crime. The EU has imposed the first outright total asset reporting requirement for cash, jewelry, and anything […]

What is becoming clear is that Turkey has most likely NOT acted alone against Russia. They have more likely than not fired the first shot in what may become World War III. Turkey has been buying the oil from ISIS and thus funding them. Yet at the same time, they are part of NATO and […]

The Thai government has taken steps toward the elimination of cash moving forward. Thailand is abandoning its ‘safe haven’ image. This is yet another step to drive capital to the dollar. (Note: this chart shows the Baht against the dollar so a rise reflects the rise in the dollar decline in the Baht)

Rumors between dealers that Chinese authorities could be about to introduce new incentives to boost property prices saw the Shanghai Index rally 2.3% in today’s trading. The Hang Seng closed marginally firmer also (+0.5%) but only a smidgeon in comparison. The Nikkei did not benefit from a weekly close above the 20k level and so […]