The world economy may be entering into treacherous territory. Central Banks and policy makers seem to have misdiagnosed the credit problems and applied the wrong medication. We are referring of […]

Over the course of the last few months official foreign accounts have been selling US Treasuries. At the same time, the US Fed has been selling Treasuries to its primary […]

We are experiencing a transformational change from post-modernity to meta-modernity. As that transformation takes place public philosophy, customs, policies and norms also change. The metamorphosis which is now at works […]

In a recent commentary we pointed out that one of the largest clearing houses asked for a $50 billion capital contribution from member institutions, (see https://blacksummitfg.com/3375 ). We have also […]

In this commentary, and in future postings, neither do we intend to outline all possible scenarios regarding the unfolding of geopolitical and geoeconomic events, nor do we suggest that the […]

In our commentary dated February 10th (http://stage.blacksummitfg.com/3375) we outlined the significance of collateral velocity and the inherent dangers of another crisis given that the main culprit (derivatives) of the 2008 […]

Historically, the inversion of the yield curve is a good predictor of recessions. On top of this when spreads of high yield bonds reach the current level of 850 bps […]

Modern finance depends on credit. Credit creation depends on inter-bank trust. Inter-bank trust depends on asset valuation. Asset valuation is an opaque process that is a function of several parameters […]

It takes some time for the market to comprehend when stress is built up in the economic and financial systems. This is part of the hysteresis reality. When financial stress […]

Following the successful Normandy invasion in June 1944, the Allies executed that September the military operation known as Market Garden (Market referred to the airborne forces that were supposed to […]