If you apply for a mortgage, you will suddenly encounter the REAL hunt for money. My sister just bought a house and to get the mortgage she had to explain every deposit and cash withdrawal in her account going back five years. My mother had simply written her a check for $400 to reimburse her for picking […]

John Boehner, Mr. Ultimate Establishment Republican, is desperately trying to secure the passage of Trade Promotion Authority (TPA) for Obama, which would give him fast-track authority to secure congressional approval of at least three secretive trade deals without the public having a right to know what the hell is going on. Why is Boehner so willing […]

Greece and its creditors stuck to their positions on Monday after the collapse of talks aimed at preventing a default and possible euro exit, while Germany’s EU commissioner said it was time to prepare for a “state of emergency”. Our models have long favored a Greek Exit (Grexit). We suspect that there will be the […]

WE APOLOGIZE for the site going down. We are trying to work out the problems with the system as the number of followers has increased dramatically, so the system was slowing down trying to forward so many emails. We are expanding the site to deal with this problem. We will try to have the “follow” button back […]

Today was a very busy day for most assets classes. First there was news over weekend that S&P may look unkindly on the UK over Brexit issue (cable was weaker than euro but is recovering towards the end of the day). Greece, never out of the news, despite weekends, has been on your screens all […]

In the latest scandal where five major banks agreed to plead guilty to criminal charges brought by the U.S. Department of Justice for manipulating the foreign exchange rates of the U.S. dollar and euro, only the corporations were changed ­– not the bankers – be they traders or executives. The banks were Citicorp, JPMorgan Chase, […]

Rating Agencies Testify Before Congress for their AAA-Ratings after 2007 S&P has issued a warning of a UK downgrade if it exits the EU. Quite frankly, we have reviewed the trade flows and this is purely politics; it is certainly not beyond the possibility that S&P is being told what to do and say, just as they […]

QUESTION: Mr. Armstrong; I was reading Wired and then I read your example of three states of government. I suddenly realized you discovered something that was unbelievable. You constantly mention that everything is complex like an onion. I know you have also a physics background. You talk about chaos and patterns upon patterns. I read […]

Late headlines yesterday from the IMF spooked early trade in Europe, which saw support for core debt markets. But this “will they, won’t they” (or should I say, “can they, can’t they”) approach has long been a tiresome excuse for dealers and is another reason why liquidity is so poor. The 10yr Tsy/Bund spread remains […]

Anyone who thinks government respects religion had better stop watching sports and drinking too much. There is a whole different reality waiting for you. Obama threatened to shutdown the Catholic Church from receiving any money out of the USA, or sending any money to the USA unless it complied with FATCA. Obama, showing his true […]