Archives for September, 2013

Thoughts from the Frontline: Renminbi: Soon to Be a Reserve Currency?

  I get the question all the time: when will the Chinese renminbi (RMB) replace the US dollar as the major world reserve currency? The assumption behind such questions is almost always that the coming crisis in US entitlement programs will force the Fed to monetize even more debt, thereby killing the dollar. Or some […]

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Will Russia Lose Its Oily Grip on Europe?

Vladimir Putin is on a roll. Ever since the Russian president-turned-prime-minister-turned-president got into office 13 years ago, he’s been deftly maneuvering Russia back into the ranks of global heavyweights. These days, he’s averting cruise missiles from Syria before breakfast. For a strategy to return Russia to superpower status, Putin had to look no farther than […]

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Just Say No to the Fed Head

So long Larry Summers! In this game of eeny meeny miny moe, it appears that Obama’s index finger will ultimately land on Janet Yellen to replace Bernanke as chairman of the Federal Reserve. Summers was Wall Street’s choice, but he withdrew from consideration, citing potential obstacles in the Senate confirmation process. While I greeted that […]

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Just Say No to the Fed Head

So long Larry Summers! In this game of eeny meeny miny moe, it appears that Obama’s index finger will ultimately land on Janet Yellen to replace Bernanke as chairman of the Federal Reserve. Summers was Wall Street’s choice, but he withdrew from consideration, citing potential obstacles in the Senate confirmation process. While I greeted that […]

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Deviation Between Gold And Money Supply Presents Rare Opportunity

  Across the globe, fiat currencies are being printed with wild abandonment as debt-addicted governments try to inflate their economies out of the ongoing crisis. In the United States, the Federal Reserve has tried it all, employing numerous asset-purchasing programs that have yet to spur any sort of meaningful recovery in the “real” economy. As […]

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Outside the Box: Uttin’ on the Itz

  Last Thursday, prior to the FOMC announcement, I was having an early lunch with Kyle Bass so he could get back to the office in time for the announcement. As we were finishing up, I was invited to come sit with another group of friends and traders who also happened to be in the […]

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Where to Find Yield Without Dividend Stocks, Bonds, or CDs

Regular readers know how concerned I am about the number of baby boomers and seniors who are financially unprepared for retirement. It’s not like the downsides of aging are a secret. As we get older, our bodies wear out and we slow down. Unless we plan to work until the grim reaper shows up at […]

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Where to Find Yield Without Dividend Stocks, Bonds, or CDs

Regular readers know how concerned I am about the number of baby boomers and seniors who are financially unprepared for retirement. It’s not like the downsides of aging are a secret. As we get older, our bodies wear out and we slow down. Unless we plan to work until the grim reaper shows up at […]

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Chinese Housewives vs. Goldman Sachs: No Contest

Goldman Sachs is once again predicting that gold will fall, setting a new near-term target of $1,050.   Never mind the schizophrenic gene that would be required to follow the constantly fluctuating predictions of all these big banks; it’s amazing to me that anyone continues to listen to them after their abysmal record and long-standing […]

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Thoughts from the Frontline: Rich City, Poor City

  “The future is already here,” intoned William Gibson, one of my favorite cyberpunk science fiction authors, “it’s just not very evenly distributed.” Paraphrasing Gibson, the pension crisis is already here; it’s just not very evenly distributed. For the past two weeks we’ve been exploring the problems of state pension funds. This week we will […]

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