QUESTION: Mr. Armstrong, Have you ever been wrong? ANSWER: On a personal level, of course. We learn from our mistakes, not from our successes. I do not understand why there seems to be such a personal focus on someone’s forecasts. The typical scammer offers some newsletter along the lines of “if you followed these calls you would […]

QUESTION: It seems as though the rally in gold is short covering? If it is, and all bottoms start that way, why is this not the bottom? Always read your work with great interest. Yours truly, JB ANSWER: Major lows are always short-cover rallies, but they are much more dramatic. Here we had gold struggling to […]

The gold promoters are trying to claim that China is understating its gold reserves because it is trying to confuse the markets about their clear ambitions to make the yuan a world reserve currency to challenge the hegemony of the U.S. dollar. The rally in gold was technical and a closing above 1109 should spark a rally […]

The Chinese revaluation of yuan has unsettled Asian equity markets and the obvious spread across the globe. The Nikkei and Hang Seng were off 1.6 and 2.4% respectively, which rolled over into Europe. The recent performance in both the DAX and CAC finished today and became the worst performers — down around 3.6% each.  The U.S. market was also feeling the pressure with the […]

None of the core Asian Equity Indices managed to trade in positive territory today: Nikkei (down 0.19%), Shanghai (-1.12%), and HSI (-0.92%). We saw weakness again in Asian currencies, and this mood worked its way in Europe as well. The first trading day in the Greek stock market after its official closure saw a 17% […]

As we approach the month-end closing for July 2015, we have a minor monthly bearish reversal at 1155 followed by the key reversal at 1084. The Bullish stands at 1287, so without a closing above that level, nothing has changed. Crude oil had a monthly bearish reversal at 5650 and 4667. We fell intraday to 4668, […]

The Euroland is still not a unified idea outside the minds of the political elite. French farmers set up roadblocks to stop the import of cheaper food from Germany and Spain. This is not about the consumer – this is everyone for themselves. The idea of a unified Europe will never fully materialize, even by force.

Asia saw a dramatic 8.5% collapse today, and London began their session today looking at Asia. European futures were all obviously lower and did not look back from the open. The U.S. session accelerated the fall that strengthened the recent flight to quality by helping to cement the ultimate peak in government debt in short-term rates. […]

QUESTION: Did Alan Greenspan invent Basic Programming language and write programs for Arthur Burns to control the world financial system? This seems to be the latest conspiracy theory running around. Is there really any truth to Greenspan being a programmer? Thanks KD ANSWER: Sorry, Greenspan was not a programmer and did not design the programs […]

Well if you ever needed PROOF that gold is not money, but rather simply an asset class, all you need to do is look at what governments are doing. They are hunting for anything of value. We are likely going to see a migration of assets from Europe to the USA, as took place prior and during World War […]