In our posting last week we pointed to the fact that while monetary reserves are rising, money supply is contracting due to the inability of banks to identify credit-worthy customers, […]

The G-20 meeting took place last Saturday. We think it’s an oxymoron that world leaders try to address in one-day conferences serious problems that took years to be created. The […]

It’s a fact: Alarm clocks destroy dreams. Let’s destroy the alarm clocks. They wake us up from our dreams; interrupt our narcissistic visions of high flying markets and rosy paths […]

The recent announcement that the Chinese will allow their currency (RMB a.k.a. Yuan) to be more flexible against the greenback was welcomed by US and other monetary authorities. The RMB […]

As we are drafting this commentary, we are hearing that the Spanish auction of 10-year notes went well. We choose to differ on the situation in Spain. Spanish banks have […]