Drawing Parallels: The Gold Pool of the 1960s and the Trajectory of the Euro
When the EU started feeling the heat in its periphery, and fearing damages to its core, it established the EFSF (European Financial Stability Fund). We have expressed elsewhere some of our concerns regarding its establishment. In this commentary – which will be...Welcome to the Era of GRBs: Asset-Price Deflation and Market Balkanization, Part IV
Markets could implode from within creating black holes where everything goes in and nothing comes out, destroying in the process paper wealth but also real economies. The essence of Gamma Ray Bursts (GRBs) is that explosions could take place when a star collapses and...From Anesthetization to Repression: On Market Balkanization, Part III
It seems that we are on a ship, that has lost its anchor, left the port for a journey in uncharted waters, and we suddenly discovered that the gorilla we were carrying on the vessel is out of his cage. The only good news is that the ship’s name is not Titanic! This...On the Balkanization of the Markets: Part II
Last Friday’s evening downgrade by the S&P was ill-timed and ill-advised. We wrote a week ago that we would not be surprised if it took place. We will reiterate our position that August again will prove to be a pivotal month in the financial markets. No need to...The Balkanization of the Debt Markets: Devolution in Uncharted Waters
As we are drafting this commentary, the news is that a deal for the US debt limit is very close to be completed, that will involve the raising of the limit by at least $3 trillion in two phases. It seems that the political theater is approaching its end. Our opinions...Sign Up for Our Publications
