Tag Archive: Mexico

Sweden’s Gold Reserves: 10,000 gold bars (pet rocks) shrouded in Official Secrecy

2017-04-28

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2017-04-28

In February 2017 while preparing for a presentation in Gothenburg about central bank gold, I emailed Sweden’s central bank, the Riksbank, enquiring whether the Riksbank physically audits Sweden’s gold and whether it would provide me with a gold bar weight list of Sweden’s gold reserves (gold bar holdings). The Swedish official gold reserves are significant and amount to 125.7 tonnes, making the Swedish nation the world’s 28th largest official gold...

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FX Traders Have To (Re)Learn A New Skill

2017-02-11

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2017-02-11

China Trade Balance with United States, April 2016-January 2017
Dear FX traders: forget the dot plot, and prepare to learn a new - or to some forgotten - skill: how to read trade flows. As Bloomberg's Vincent Cignarella and Andrea Wong point out, currency traders accustomed to analyzing the Fed’s dot plot and monthly U.S. jobs figures to predict the direction of the world's reserve currency are having to learn, or in some cases re-learn, a largely forgotten ability: how to scrutinize trade data. With...

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The US Dollar Is Now Overvalued Against Almost Every Currency In The World

2017-01-24

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2017-01-24

World Map
In September 1986, The Economist weekly newspaper published its first-ever “Big Mac Index”. It was a light-hearted way for the paper to gauge whether foreign currencies are over- or under-valued by comparing the prices of Big Macs around the world. In theory, the price of a Big Mac in Rio de Janeiro should be the same as a Big Mac in Cairo or Toronto.

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Gold Bars Worth $800,000 Owned By Prince

2017-01-11

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2017-01-11

gold experience
Gold Bars Worth $800,000 Owned By Prince. Prince, RIP, owned gold bars worth just over $800,000 according to the statement filed in a Minnesota court last Friday.

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Nomi Prins’ Political-Financial Road Map For 2017

2017-01-05

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2017-01-05

2017 Just Ahead
As tumultuous as last year was from a global political perspective on the back of a rocky start market-wise, 2017 will be much more so. The central bank subsidization of the financial system (especially in the US and Europe) that began with the Fed invoking zero interest rate policy in 2008, gave way to international distrust of the enabling status quo that unfolded in different ways across the planet.

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A Biased 2017 Forecast, Part 1

2017-01-05

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2017-01-05

hind-sight
A couple weeks ago I was lucky enough to see a live one hour interview with Michael Lewis at the Annenberg Center about his new book The Undoing Project. Everyone attending the lecture received a complimentary copy of the book. Being a huge fan of Lewis after reading Liar’s Poker, Boomerang, The Big Short, Flash Boys, and Moneyball, I was interested to hear about his new project.

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Global Warm-Ongering: What Happens If Trump Takes US Out Of Paris Agreement?

2016-12-10

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2016-12-10

Global Emissions
For all the shock, horror, and aghast of global warm-ongers, comes a startling revelation: It’s Irrelevant if US Pulls Out of Paris Accord. Donald Trump has sent his clearest message yet about his plans for reshaping US policy on global warming by choosing a chief environmental regulator who has questioned the science of climate change.

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Argor-Heraeus: Another giant Swiss gold refinery goes on the Sales Lot

2016-11-03

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2016-11-03

Fine gold
News has just emerged in the gold market that the giant Swiss precious metals refiner Argor-Heraeus has held discussions to be acquired, and that the likely outcome is an acquisition by a private equity group. This private equity group is believed to be London-based WRM CapInvest, part of Zurich headquartered WRM Capital.

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Cashless Society – Is The War On Cash Set To Benefit Gold?

2016-10-26

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2016-10-26

Cash is the new “barbarous relic” according to many central banks, regulators, and some economists and there is a strong, concerted push for the ‘cashless society’. Developments in recent days and weeks have highlighted the risks posed by the war on cash and the cashless society.

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FX Daily, September 27: US Debate Lifts Peso, but Leaves the Dollar Non-Plussed

2016-09-27

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2016-09-27

FX Performance September 27, 2016
Since the monetary assessment meeting, the EUR/CHF is trending downwards. Sight deposits indicate that the SNB is intervening 0.9 bn per week. We emphasized that the preferred intervention corridor is between 1.08 and 1.0850. The first US Presidential debate may not sway many voters but has lifted the Mexican peso. The peso, which has fallen by about 1.3% over the past two sessions, has stormed by 1.5% today as the seemingly biggest winner of the...

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Great Graphic: Net Mexican Migration to the US–Not What You Might Think

2016-09-14

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2016-09-14

Net migration from Mexico 2009 to 2014
Net migration of Mexicans into the US has fallen for a decade. The surge in Mexican migration into the US followed on the heels of NAFTA. Although Trump has bounced in the polls, and some see this as negative for the peso, rising US interest rates and the slide in oil price are more important drivers.

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Negative and the War On Cash, Part 2: “Closing The Escape Routes”

2016-09-08

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2016-09-08

History teaches us that central authorities dislike escape routes, at least for the majority, and are therefore prone to closing them, so that control of a limited money supply can remain in the hands of the very few. In the 1930s, gold was the escape route, so gold was confiscated. As Alan Greenspan wrote in 1966:

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Stockman Rages: Ben Bernanke Is “The Most Dangerous Man Walking This Planet”

2016-07-12

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2016-07-12

Ben Bernanke is one of the most dangerous men walking the planet. In this age of central bank domination of economic life he is surely the pied piper of monetary ruin. At least since 2002 he has been talking about “helicopter money” as if a notion which is pure economic quackery actually had some legitimate basis.

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FX Daily, July 01: Markets Head Quietly into the Weekend

2016-07-01

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2016-07-01

EUR/CHF finished the week after Brexit with slight improvement of 0.18%. The scare mongering by the Swiss media was misplaced. The euro even recovered from a dip after BoE governor Carney's comments on Thursday. We do not see strong SNB interventions at this elevated price level. We judged that the interventions happened below 1.08.

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Panama Tax Haven Scandal: The Bigger Picture

The “Panama Papers” tax haven leak is big … After all, the Prime Minister of Iceland resigned over the leak, and investigations are taking place worldwide over the leak. But the Panama Papers reporting mainly focuses on friends of Russia’s Putin, Ass...

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EU Plans $290K Per Person Fine For Countries Refusing “Fair Share” Of Refugees; Angry Response Ensues

2016-05-05

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2016-05-05

As Norway offers cash for refugees to leave, announcing that they won't be accepting any more refugees from the EU, and Switzerland prepares its military to close down borders, the EU has seemingly had enough of every country acting as if it has any ...

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Swiss Franc History: Volcker Shock, Oil Glut and the Breakdown of Gold and Emerging Markets

gold inflation
After the Volcker moment or sometimes called "Volcker shock", commodity prices plunged, the gold price collapsed. Thanks to additional supply, e.g. from Northsea oil, a so-called oil glut appeared. After the increase of debt in the 1970s, some economies in Southern America collapsed. The major reason was Volcker's tight monetary policy with high interest rates and the dependency on US funds.

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Government and Public-Sector Employment

government public-sector employment
Government and Public-Sector Employment

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Global Purchasing Manager Indices

2013-04-11

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2013-04-11

Global PMIs December 3, 2012
Manufacturing Purchasing Manager Indices (PMIs) are considered to be the leading and most important economic indicators.   August 2013 Update Emerging markets: Years of strong increases in wages combined with tapering fears have taken its toll: Higher costs and lower investment capital available. EM Companies have issues in coping with developed economies. Some of them …

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