In 1931, the sovereign debt crisis and banking system collapse began in Austria with the failure of Credit Anstalt (Creditanstalt), which was partly owned by the Rothschilds. The bank was forced to absorb another bank and a secret loan was created in London off the books to hide the insolvency to do the merger for […]

The political elites do not like Trump or ANY outsider. Now, top Republican Party officials are actually discussing the possibility of a brokered convention — a DICTATORSHIP — where the choice of the people will have no input. Since Trump is leading in double digits against all career politicians, the only way for Washington and the press to maintain their power […]

Japan opened weak following the poor close in the Dow yesterday especially having seen triple digit gains at one stage. Given that Hang Seng and Shanghai were both under pressure all day it was not a surprise all markets closed negative. All European indices opened lower and it was only the DAX (aided by the […]

Hardly a day to write about with Asian equities not really showing any indications of a direction, let alone a story, for the day. All core indices closed +/- 0.5%; even to fabricate a rumour would constitute just that — a fabrication! The European session was pretty much the same without much away from core DAX, and CAC […]

As of January 1, 2016, Switzerland is handing over the names of everyone who has anything stored in its Swiss freeport customs warehouses. For decades, people have stored precious metals and art in Swiss custom ports — tax-free — as long as they did not take it into Switzerland. Now any hope on trusting Switzerland is totally […]

Many articles are highlighting the censorship of the press in the International New York Times. An article criticizing Thailand’s generals for shooting the economy in the foot was seen in all print editions expect Thailand, where they displayed a blank space to let everyone know something had been removed ­– censorship. What was NOT reported in the West […]

Switzerland has completely capitulated its historic safe-haven status to the entire world. Switzerland was born from a tax revolt against the Hapsburg dynasty in Austria. The tax collector made William Tell shoot an apple off his son’s head with an arrow. Switzerland then remained neutral in war and religion, serving as a safe-haven for those who […]

Donald Trump has surged to 36% in the polls, which is driving the political pundits crazy. After more than 30 years of dealing directly with politicians around the world, I must say one thing: politicians will NEVER admit a mistake. No matter what, they will always follow a single course simply because they declared that direction from […]

Spanish Prime Minister Mariano Rajoy, a member of the Popular Party (PP), announced shortly before the general election (expected to be on December 20) that a record fall in unemployment took place. Looking closely at the statistics reveals that the missing unemployed have emigrated someplace else. Clearly, there are fewer Spaniards contributing to social insurance than before. Only the number of seasonal […]

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 […]