Tag Archive: Featured

“Gold is Money, Everything Else Is Credit” – J.P. Morgan

2020-11-09

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2020-11-09

By now it is probably obvious, even to the most naive of mainstream narrative followers, that we are well past the point of no return on many fronts. Politics, on a national and global level, are never getting back to “normal”, the economy is already knee-deep in a severe recession, while social frictions and public discontent with governments, institutions and all kinds of rulers and central planners is on a sharp and dangerous trajectory. 

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Forget GOAT, Look at GBOAT: The Greatest Bubble Of All Time

2020-11-09

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2020-11-09

Wilshire Total Market Cap Index vs. Nominal GDP, 1972-2020
So enjoy the GBOAT (greatest bubble of all time) but watch the clock. Sports fans debate who qualifies as GOAT--the greatest of all time: in hoops, Kobe, Jordan, Kareem, Magic; in boxing, Ali, and so forth. What we have today is GBOAT--the greatest bubble of all time That it's GOAT is beyond doubt, as the charts below reveal.

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Good Payrolls Still Say Slowdown

2020-11-09

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2020-11-09

Pro forma CES Private Payrolls, 2020-2021
The payroll report for the month of October 2020 was a very good one. This shouldn’t be surprising, perfect BLS publications appear with regularity even during the most challenging of circumstances. Headlines and underneath, everything looked fine last month.

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Dollar Soft as Risk On Sentiment Dominates Ahead of FOMC Decision

2020-11-08

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2020-11-08

BOE Pricing, 2020
Dollar weakness has resumed as risk on sentiment dominates; the US election outcome is starting to take shape. Senate Majority Leader McConnell said passing a stimulus bill is a top priority during the lame duck session; the two day FOMC meeting concludes today with a likely dovish hold; weekly jobless claims will be reported.

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Lockdowners and “the Desire to Dominate”

2020-11-08

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2020-11-08

In many years of lecturing at Mises University, Judge Napolitano has given the same—terrifying—ending to his introductory speech. Not until the horrors of this year did it dawn on me that perhaps his point has its basis in reality. The dear judge often mentions, almost like a joke, the libido dominandi—the desire to dominate, or the will to power, harking back to Augustine of Hippo’s centuries-old writing.

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Shareholders call for new priorities for manager salaries

2020-11-07

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2020-11-07

Shareholders in Switzerland want a rethink on how managers are paid and demand that priorities regarding corporate governance, sustainability and corporate social responsibility (CSR) be redefined, a survey has found.

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Here’s Our Historical Analogy Menu: Rome, the USSR or Revolutionary France

2020-11-07

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2020-11-07

The core dynamic is ultimately the loss of social cohesion within the ruling elites and in the social order at large. There's a definite end of days feeling to the euphoria that the world didn't end on November 3. And what better way to celebrate the victory of what passes for normalcy with a manic stock market rally?

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Gold and Silver to Explode Higher Regardless of the US Election Result?

2020-11-07

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2020-11-07

GoldCore Gold Chart
Today we are taking our weekly look at the charts for gold and silver. After what has been the most unusual campaign season for both candidates, election day has finally arrived. Regardless of your political persuasions, both gold and silver look to be setting up for an explosive move higher.

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The Idea that Democracy Is the Same as Liberty Is a Weapon in the Hands of Despots

2020-11-07

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2020-11-07

As Americans approach a date with their polling places and “get out the vote” campaigns crescendo, there is plenty of rhetoric that all but deifies democracy.

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FX Daily, November 6: A Pause that Refreshens?

2020-11-06

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2020-11-06

Investors have piled into risk assets this week, seemingly undeterred by the US elections' lack of a clear outcome. The coronavirus is still surging, and a new complication has emerged. A mutation of the virus, originating in minks (Denmark), could pose a challenge in developing a vaccine. MSCI Asia Pacific Index rose for the fifth consecutive session today to end its best week since April.

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Covid, Nov6: 62 new deaths as hospitalisations rise in Switzerland

2020-11-06

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2020-11-06

Change in Hospitalisation Switzerland 2020 Nov 06
On 5 November 2020, Switzerland’s Federal Office of Public Health (FOPH) reported 62 deaths among laboratory-confirmed cases of Covid over 24 hours, bringing the total death toll since summer to 606.

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Markets Gyrate Ahead of Protracted Period of Uncertainty

2020-11-06

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2020-11-06

Markets likely facing an extended period of uncertainty; the dollar is seeing some safe haven bid but is well off its highs. Despite President Trump’s claim of victory and his call to halt vote counting and go to the Supreme Court, it’s important to emphasize that the election is simply not over yet; asset prices are sending a cacophony of signals as investors struggle to price multiple possibilities.

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Why High Net Worth Investors are Opting for Physical Gold Vs ETFs, Digital Gold & Crypto-Currencies

2020-11-06

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2020-11-06

As we continue to await the official result of the US Election, in the short-term financial markets remain volatile.

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Counting The Corroborated Stall, Not The Coming Lawfare Election Mess

2020-11-06

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2020-11-06

CPS Household Survey, 2003-2020
While we wait for the electoral count to be sorted out by what we hope are competent and honest people (not holding our breath), there’s a greater muddle growing where it actually counts and where it’s never fully nor properly accounted. By a large and growing number of accounts, the US economy’s rebound seems to have stalled out back around June or July, an inflection unrelated to COVID case counts, too.

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Why Socialism Won’t End Worker “Exploitation”

2020-11-06

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2020-11-06

A belief still commonly held today by not just Marxists and socialists, but progressives of many stripes, is the insistence that employers are “stealing” part of their workers’ labor because the wage workers receive from their employer are less than the contribution of their labor to the final value (i.e., selling price) of the finished good.

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FX Daily, November 5: The Dollar Slides and the Yuan Jumps

2020-11-05

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2020-11-05

Overview: The markets did not wait for the final vote count and took stocks and bonds higher while pushing the greenback lower. While it appears Biden will be the next US President, investors seemed to like the fact that his agenda will be checked by a Senate that may remain in Republican hands.  Stocks are on a tear. 

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COVID-19 situation update for the EU/EEA and the UK, as of 4 November 2020

2020-11-05

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2020-11-05

14-day COVID-19 case notification rate per 100 000, weeks 42-43
As of 04 November 2020, 8 008 149 cases have been reported in the EU/EEA and the UK: France (1 502 763), Spain (1 259 366), United Kingdom (1 073 882), Italy (759 829), Germany (577 593), Belgium (453 215), Poland (414 844), Netherlands (375 444), Czechia (362 985), Romania (258 437), Portugal (149 443), Sweden (134 532), Austria (118 715), Hungary (90 988), Slovakia (63 556), Ireland (63 048), Bulgaria (60 537), Croatia (54 087), Denmark (49 594),...

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Swiss Consumer sentiment: No further recovery of consumer sentiment

2020-11-05

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2020-11-05

Consumer sentiment index, 2011-2020
Consumer sentiment in Switzerland has largely been stagnating since the summer. All sub-indices used for the calculation are still below their long-term average and none have improved significantly compared to this summer’s survey. Economic development and the situation on the labour market are seen as unfavourable.

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Zurich prosecutor charges former Raiffeisen bank chief Vincenz

2020-11-05

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2020-11-05

The Zurich public prosecutor has accused the ex-CEO of Swiss bank Raiffeisen Pierin Vincenz of fraud, embezzlement and bribery following a two-year criminal investigation.

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What We Don’t Elect Matters Most: Central Banking and the Permanent Government

2020-11-05

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2020-11-05

The rich get richer, 1980-2012
We're Number One in wealth, income and power inequality, yea for the Fed and the Empire! If we avert our eyes from the electoral battle on the blood-soaked sand of the Coliseum and look behind the screen, we find the powers that matter are not elected: our owned by a few big banks Federal Reserve, run by a handful of technocrats, and the immense National Security State, a.k.a. the Permanent Government.

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