The Bank of Italy, when it was headed at the time by Mario Draghi, knew Banca Monte dei Paschi di Siena SpA hid the loss of almost half a billion dollars using derivatives two years before prosecutors were alerted to the complex transactions, according to documents revealed in a Milan court. Mario Draghi, now president of […]

Without real-world experience, today’s move by the Bank of England would have cost you serious money. Yes, finally after more than a decade the BOE finally raised rates by 25 basis points to 0.50%. The move has been well telegraphed in recent days and having been confirmed the first thing we see is a 1.5% […]

QUESTION: Dear Mr. Armstrong, I had stopped watching TV a decade ago. Then one late night in August 2015, for no particular reason, I switch on some Swedish channel, and voila! I see The Forecaster. It shattered me… I’m your faithful follower ever since. If anyone deserves a Nobel in Economics – or Peace – it is […]

As you probably expected, Asia opened firmer following the strong US performance. For the majority this remained the trend for the day but not for the Nikkei. Having seen 16 positive closes in a row, today was time for a rest. We saw some profit-taking and a reversal after the strong open, eventually drifting close […]

QUESTION: Marty, we are living in Austria and we try to grasp what will come after the Dow reached the mid 30.000s or even the 40.000s in 2019/20 and the dollar went up too? what goes up must come down. it would be good to know how to prepare oneself for the everyday life as […]

QUESTION: Dear Mr. Armstrong, First of all – THANK YOU for all you do, for your guiding light. As I’ve read your blog, (a must daily), the post “Global cooling is killing penguins – not global warming”, especially the last two sentences “We are headed into a serious decline in temperature and that is when civilization […]

France’s President Emmanuel Macron is calling for a radical restructuring of the whole EU. Macron has presented his map for the EU into 2024. He is proposing that the Eurozone budget must include a joint force for military operations. Macron intends to finance this new budget with its tax – the “EU tax” he calls it. Macron has looked at […]

Today we saw Bitcoin (BTC) close and break through the 5000-dollar mark for the first time –BTC recovered fast from the recent downturn to 2800 level found mid-September, the issue I have is what is the long-term prospects with such a cryptocurrency. The questions we must ask is will Governments allow such a currency without […]

QUESTION: Dear Mr. Armstrong, You said that people and institutions from Europe send their cash to the US to get a higher yield. This makes a lot of sense. At the same time, the dollar has been falling. You have also stated that US institutional investors are sending money to developing markets to get a […]

News today of the Catalan leader Carles Puigdemont putting a delay on this declaration of independence to try and have an amicable solution with the Spanish Government in Madrid. Pushed the EUR/USD rates up 0.54% to 1.18 on the day. Few other announcements around the world, the Swiss unemployment rates dropped from 3.2% to 3.1% […]