Monte dei Paschi shares were suspended twice throughout today. At one stage down 22% currently trading down 18%. Peripheral bond markets behaving themselves only Italian BTP’s were wider by 7bp’s. The European banking crisis is still in full bloom. What the ECB will not admit is that the design of the Euro lacking a single debt […]

With the Economic Confidence Model peak in 2007.15 (February 26th, 2007), that turning point marked the very day of the high in the Case-Shiller Real Estate Index. However, it also market the precise day of the infamous sale at the top of Goldman Sachs’ notorious ABACUS 2007-AC1 $2 billion Synthetic CDO. Indeed, Goldman Sachs was later […]

This is a unique system that brings the concept of pressure points within a market to the opening of the day. How a market opens is as critical as where it finishes. This is the system that was personally developed from intraday trading and hedging out of necessity. It was developed in the 1970s to […]

For those of us in the real world familiar with real live trading, there is a huge difference between theory and reality. I was invited by a very well-known university to observe a program pilot designed to train people to trade in banks funded by banks. They rented a hotel and took many rooms with […]

The French parliament voted Tuesday in favor of a draft law that could, for the first time, make it possible to remove the country’s president from office through a US-style impeachment. The bill, already passed by France’s lower house, was approved by the Senate by 324 votes to 18 and it will now go to […]

  Deutsche Bank Frankfurt A senior New York lawyer at Deutsche Bank has been found dead. The circumstances pointed to a suicide. The 41-year-old had been found hung on a staircase railing by his wife on Monday. He was involved in the litigation of the bank scandal involving interest rate and foreign exchange market manipulation. He was […]

Well it has arrived. The ECB stress test of European banks today on Sunday is expected to see  at least 20 percent to nearly 40 percent of all European banks fail. They just cannot understand raising taxes reduces disposable income and thus the economy, borrowing, and investment – dah! European banks are not doing well even […]

The International Monetary Fund has been forced to change the calculation of its most important interest rate after aggressive monetary easing around the world threatened to turn it negative. Late on Friday, the IMF said it is introducing a floor of 0.05 percent for the interest rate on Special Drawing Rights, its own form of […]

The assumption of the hyperinflationists has been that governments will just print to meet their obligations. That theory is based upon revolutionary government who CANNOT SELL debt to anyone. In the case of the West, we issue debt and because of that, the first effort is to meet the demands of bond-holders. That is only […]

Vladimir Putin has effectively accused the Obama Administration and the United States on Friday of endangering global security by imposing a “unilateral diktat” upon the rest of the world. Putin also denied trying to rebuild the Soviet empire at the expense of Russia’s neighbors and has stated bluntly: “We did not start this.” On this score, Putin […]