Tag Archives: Japan

In the latest semi-annual Keynesian incantation spewed out by the world’s best pseudo-scientists, we learn that growth has been too slow for too long and that in itself is the cause of slow growth. First, they promote debt-funded consumption because spending – money supply/credit and velocity – is equivalent to nominal GDP growth, and as long as you have nominal GDP growth you can always add more debt to the existing stock ad infinitum. That obviously came crashing down in 2008. At that...

Gold and Silver Are Manipulated Deutsche Bank admitted today that it participated with other big banks in manipulating gold and silver prices. In 2014, Switzerland’s financial regulator (FINMA) found “serious misconduct” and a “clear attempt to manipulate precious metals benchmarks” by UBS employees in precious metals trading, particularly with silver. Reuters reported: Swiss regulator FINMA said on Wednesday that it found a “clear attempt” to manipulate precious metals benchmarks during...

The Bank of Japan and the ECB are assisting me in teaching the world’s savers, banking clients and corporations about the benefits of blockchain-based finance for the masses. How? Today, the Wall Street Journal published “Negative Rates: How One Swiss Bank Learned to Live in a Subzero World“: Alternative Bank Schweiz AG late last year became Switzerland’s first bank to comprehensively pass along negative rates to all of its customers. Violating an almost religious precept in the financial...

The Bank of Japan and the ECB are assisting me in teaching the world's savers, banking clients and corporations about the benefits of blockchain-based finance for the masses. How? Today, the Wall Street Journal published "Negative Rates: How One Swiss Bank Learned to Live in a Subzero World": Alternative Bank Schweiz AG late last year became Switzerland’s first bank to comprehensively pass along negative rates to all of its customers. Violating an almost religious precept in the financial...

In another quiet overnight session, the biggest - and unexpected - macro news was the surprise monetary easing by Singapore which as previously reported moved to a 2008 crisis policy response when it adopted a "zero currency appreciation" stance as a result of its trade-based economy grinding to a halt. As Richard Breslow accurately put it, "If you need yet another stark example of the fantasy storytelling we amuse ourselves with, juxtapose today’s Monetary Authority of Singapore policy...

Markets have stopped focusing on what central banks are doing and are "positioning for what they believe central banks may or may not do," according to BofA's Athanasios Vamvakidis as he tells FX traders to "prepare to fight the central banks," as the market reaction to central bank policies this year reflects transition to a new regime, in which investors start speculating which central bank will have to give up easing policies first. The market has started testing the central banks In...

It’s official, I’m calling a banking crisis in Europe. Things didn’t go well the last time I did this. Of course, many will say, “But the rating agencies have learned their collective lessons. They would most assuredely warn us if the European banks are close to going bust, right?!!!”. Yeah, right! Reference our past research note on so-called trusted parties in private blockchains for banks. Those interested in purchasing the 22 page report on what is likely the first major bank to fall...

It's official, I'm calling a banking crisis in Europe. Things didn't go well the last time I did this. Of course, many will say, "But the rating agencies have learned their collective lessons. They would most assuredely warn us if the European banks are close to going bust, right?!!!". Yeah, right! Reference our past research note on so-called trusted parties in private blockchains for banks. Those interested in purchasing the 22 page report on what is likely the first...

We show the history of Japanese FX interventions. The Japanese only intervened when the USD/JPY was under 80. Therefore the 2016 FX intervention threads at 108 are ridiculous.As opposed to the Swiss National Bank, the Japanese only talk, they do not fight. 2016 Japanese interventions thread Once the Fed finally reduced rate expections, the USD/JPY depreciated from 120 to 108 in a single quarter. (via Reuters and investing.com) Gains for stock markets and a warning of the chances of...

Authored by Steve H. Hanke of the Johns Hopkins University. Follow him on Twitter @Steve_Hanke. Reportage in The Wall Street Journal on April 4th states that “A fund owned by China’s foreign-exchange regulator has been taking stakes in some of the country’s biggest banks, raising speculation that it may be a new member of the so-called ‘national team’ of investors the Chinese government unleashes to support its stock market.” Statists and interventionists around the world (read: `those who...