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The Fed, ZIRP and the French boomerang
Ben Bernanke promised to sit, like an elephant, on short-term interest rates for another two years – at least. What were US Money Market Funds (MMF) going to do? US Treasury yields are 0.09% for 12 months, 0.02% for 6 and negative 0.01% for 3 months: Source: Bloomberg 9/23/2011 You can’t deliver negative yields…
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Zerohedge: Bundesbank ready to pull the Euro’s Ripcord?
Bundesbank ready to pull the Euro’s Ripcord?
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Bundesbank ready to pull the Euro’s ripcord
Something odd is happening. Germans are leaving the ECB. First Weber, then Stark. Why would senior German officials withdraw from the ECB just at a time when they should seek greater influence? One explanation: to avoid having a conflict of interest once Germany re-instates the Bundesbank as the leading central bank of Europe. Currently, Germany…
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Get your half-yearly dose of hopium from the IMF
With the publication of the half-yearly “World Economic Outlook” by the IMF it’s time again to look confidently into the bright economic future – or is it? Let’s examine how the IMF wizards fared compared to their own (past) forecasts: Source: IMF World Economic Outlook, Table 2.2 (Selected European Economies); October 2010 (page 75), April…
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Zerohedge: Switzerland Launches Referendum To Stop SNB Lunacy, Save Swiss Gold
Click here to read our article as it appeared on Zerohedge blog News service Ransquawk also picked up the post:
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Save the Swiss Gold
According to an article in Swiss newspaper NZZ (Neue Zuercher Zeitung) the SVP party (Swiss People’s Party) launched a referendum to “protect” the 1,000 tonnes of gold owned by the Swiss National Bank (SNB). Their aim is to: make it unconstitutional to sell gold force the SNB to hold 20% of its assets in gold…
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Why China really needs to step up its gold purchases
Central banks own most of the world’s gold (30,562 tonnes compared to 2,158 tonnes in ETF owned by private investors). Why? Our entire monetary system is based on fiat currencies (the paper is not worth anything – the value stems from the trust someone else will accept this paper for the value printed on it).…
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How Dr. Ben Copperfield makes trillions disappear – twice
Fed Chairman Ben Bernanke is a magician. He can make trillions of debt disappear. Impossible? Let me show you how: Please take a look at the following table[1]. We are only going to look at the total marketable public debt[2]. Broken down into categories by instrument I compared the latest data (July 2011) with the…
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Interview with IndexUniverse.com: “From Euro to Neuro”
http://www.indexuniverse.eu/europe/opinion-and-analysis/7929-alex-gloy.html?Itemid=126
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What a week
Looking at asset class performance during the week August 1-5, 2011: Horrible week for the Dax index, US REITs (Real Estate Investment Trusts) and Emerging Markets. I had wondered why the Dax managed to perform so well despite Euro zone troubles. It is a pretty cyclical index, and usually outperforms the US indices – in…
Author: Alexander Gloy
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