QUESTION: Marty; Since you wrote that central banks have been net sellers of US Treasuries for the first six months to support their currencies, others are jumping on board and are claiming nobody wants them so buy gold. Would you care to elaborate on this subject? It seems another desperate attempt by the hyperinflationists. Thank […]

Central bankers these days are seriously trapped. They cannot now reverse their policies for that means they have to admit that they have failed. This is why the Yellen is not so eager to move to negative rates and has continued to take the view that rates must be normalized (raised). That is far more […]

The fast food chain Domino’s has delivered the first deliveries of the world a pizza by drone. The test flight took place in New Zealand on Thursday. Later this year Domino’s will launch a field trial in New Zealand. Europe will be a problem for Domino’s Pizza to deliver from the air. The obstacles regulating the air […]

Ahead of Jackson Hole a mixed response in Asia with a choppy day for the Nikkei. Initially, the Nikkei saw a sell-off then an attempted rally just after lunch but that was to fizzle-out eventually closing down 1.1%. The JPY remained in a tight range and continues to play with the par level. There remains a […]

Of course, Chancellor Angela Merkel has denied that allowing the refugees in has led to the recent Islamic terrorist attacks. She has admitted that fighting crime and Islamist terrorism will be key challenges for the year, and she is adopting a law and order position after attacks in Germany have seen her approval ratings collapse. […]

Neither the Nikkei nor Hang Seng could decide on a direction today as both flip-flopped between positive and negative territory. Only Shanghai was to remain lower for the whole day closing well above the days lows but still 0.5% weaker. Yesterday we heard that the PBOC added (through 14 day reverse repo’s) cash into the […]

Historically, crops fail during periods when the weather turns sharply colder. Rising food shortages coincide with rising aggression. This seems to be a link back into ancient times. The way the climate is now turning colder is in direct harmony with the war cycle. Switzerland began recording temperatures in 1864, which provide a good European […]

A strong opening for the Nikkei, almost 1% but only to turn ahead of the lunch break. Although price action was whippy the volume traded was very poor. The afternoon session was a retracement of earlier losses but again in light volume. We closed the day up +0.6% but all eyes and ears will be […]

  When it came to BREXIT, the computer correctly forecast that the leave side would win and there would be a big turnout. I personally stated that I “believed” they would rig the election as they had done with every other European election from Austria and Scotland all the way to Italy and Spain. I […]

Germany is to reestablish conscription into the military, which had been suspended on July 1, 2011 after 55 years. The Merkel government now sees a major security risk and is shifting its policy by justifying conscription once again. The duty to serve may be arguably due to tension with Russia, but it is really domestic […]