The Nikkei gapped lower and despite several failed attempts to rally finally closed down 0.7%. The JPY after hitting the 103.50 level has traded stronger throughout the European and US trading hours gaining over 100 pips and was last seen around the 102.40 level. The Nikkei futures has had the opposite reaction and has slide […]

Mario Draghi cannot possibly admit that he is dead wrong in managing the European economy. This idea that continuing to lower rates will somehow inspire people to risk it all is just insane. This is even coming from Goldman Sachs, which means nothing for qualification. The people in the elitist banking group think that power makes […]

Asia started off where we left the US on Friday with the selling pressure still dominant. The Nikkei cash opened down over 1% lower and did not look likely to break that decline at any time during the trading session. Eventually closing 1.7% lower the JPY saw the safety rush but interestingly not as dramatic […]

With the ECB expanding its quantitative easing program to include corporate debt, European companies are now scrambling to issue as much debt as they can as cheap rates. These issue are selling BECAUSE it is assumed they have a guaranteed bidder being the ECB. At least this part of the QE is far better than […]

  QUESTION: Why are there so many Fed branches? It seems this is another way for government just to create jobs and pensions. ANSWER:I wrote several times that the original design of the Federal Reserve would have been a good, stabilizing entity for the economy had the politicians left it alone. At first, to ease […]

QUESTION: Mr. Armstrong; You seem often to be the guy with the level head when everyone else is losing it. Now we have this doomsday day prediction of the end of the dollar come September 27th to 30th, depending on the guru selling newsletters. They are focused on the IMF simply recalculating the SDR to […]

Secondary economic data in Japan coupled with slight dovish comments BOJ comments and the Nikkei started to drift lower. At worse the index was down around 1% but a lack of follow through volume saw a reasonable bounce into the close. Eventually, the Nikkei closed down 0.3% which, around mid afternoon looked very unlikely. The […]

QUESTION:  I hope you are well and enjoying your summer holidays.   When will be available the Trader Level service?. Is it true that Abraham Lincoln refused to finance the Union Army, with a loan with an excessive interest, from the Rothschild Banking House?.   I look forward to hearing from you as soon as […]

There is a problem that Illinois faces. There is no actual right for a state to go bankrupt. That does not mean that no state has simply defaulted and never paid. A state hasn’t defaulted since Arkansas in 1933 during the Great Depression. However, that was also not the first state to simply not pay. […]

We could be about to enter some interesting times as we settle back post holiday season. We are looking at a possible return to volatility especially after a clear message from the G20 that they are frozen in the headlights. Asia started us off with the Nikkei rallying, closely followed also with positive performances for […]