Asia: Reports from Asia state that China is proposing an agricultural deal worth up to 30 bn a year. This would mean that China would have to source products from the US such as soybeans, corn and wheat. However, this news has failed to inspire any excitement in the Chinese markets today as the […]

The two major myths that I get asked about all the time are the Rothschilds and whether pricing oil in yuan or euro will cause the dollar to collapse. I think I know something about the Rothschilds. I was even offered an investor back in the 1980s who wanted to buy into the company, and […]

  Asia: Foundation Day is a day designed to mark the celebration of the founding of a nation. In the case of Japan, this is for the mythological foundation of Japan and the accession of its first Emperor Jimmu. For this occasion, the markets were closed in Japan. Therefore, we would like to extend our […]

QUESTION:Dear Martin: Do you have any concerns for the equity markets from the upcoming conversion from Libor to SOFR (the secured overnight financing rate). A recent article from Business Insider highlighted the following: “Libor, linked to about $350 trillion worth of financial products, will be replaced by an alternate pricing benchmark for everything from mortgages […]

The rally in gold and the stock market together is demonstrating that eventually, we will see the alignment as it transforms from Public to Private assets. The most deranged reaction to the Federal Reserve saying they will be “patient” on any further rate moves, is just beyond all reason. But markets are not always rational […]

QUESTION: Sir, Listening to the WEC 2018 recording this weekend, Mike Campbell made an interesting sideline comment. He stated that pension funds were heavily invested in real estate. Is this just Canada or the US as well? If taxes go up will this further push the pension funds over as well as the emerging markets? If […]

Another weak close for US markets and again, that sentiment just rolled into Asia and the mood was set for the day. Japan took the brunt as stocks lost another 1% as financials led much of the way following a disappointing BOJ’s unchanged stance. This inspired a revival of the Yen safety bid and took […]

QUESTION: Hello, Since the Fed ‘created’ ‘money’ after 2008 that was then deposited back at the Fed by the recipient banks ( say,75% of it), it is not easy to see why the Fed is to blame for the credit explosion since 2008- nor for the very slow ( like a paralytic centipede) hike in Fed […]

Everything is still on track for a pullback. The Dow Jones Industrial Average closed at a 14-month low on Thursday, the second consecutive day of sell-offs after the Federal Reserve announced its fourth widely-anticipated rate hike of the year. Interestingly, despite the fact that the rate hike was expected, the Fed’s revised outlook for a cooler […]

The Federal Reserve raising the 25bp was pretty much expected throughout, with a few possible outlier exceptions. However, it was not really the hike that spooked markets, but that they had built-in so much belief that the no change in hiking rhetoric they was expecting. This is probably why markets are reacting so violently, as […]