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Fed Official Decries Bitcoin As “Not Backed”

Fed Official Decries Bitcoin As “Not Backed”

Randal K. Quarles, a Trump administration appointee to the Federal Reserve Board of Governors and Vice Chair for bank supervision, has given a lengthy speech (“Thoughts on Prudent Innovation in the Payment System”) that directly targets Bitcoin as a danger to the monetary and financial system. To reiterate, an official speaking for the nation’s central bank that […]
What The Recent Market Volatility Means For Traders

What The Recent Market Volatility Means For Traders

Well, the first day of trading for December turned out to be anything but boring. The morning’s explosive political news sent the SPX down 400 points, and for 30 minutes, the markets saw nothing but sell orders. Over at the NYSE, the ticker kept pounding at -1000 readings minute after minute as the support for the […]
Dividend Income November 2017

Dividend Income November 2017

Each month I will publish my dividend income. I will mainly do this for staying self motivated and to give you the readers the chance to follow my journey from the beginning on. The dividend income in the first couple of years will be on a very low level but investing in dividend stocks is […]
NZD/JPY Challenges Resistance Into December Open- Watch This Level

NZD/JPY Challenges Resistance Into December Open- Watch This Level

NZD/JPY Daily Chart Technical Outlook: NZD/JPY has been trading within the confines a well-defined descending pitchfork formation extending off the yearly highs with prices trading into the 77.38/66 resistance zone today before turning lower. Notice the similarities in the previous failure patterns into this upper parallel – heading into the open in December, we’re looking for an exhaustion […]
All Systems Are (Almost) Go Into Year-End, With Tax Reform The Final Missing Piece

All Systems Are (Almost) Go Into Year-End, With Tax Reform The Final Missing Piece

Stocks are rocketing to new highs almost every day. Jeff Bezos of Amazon.com (AMZN) saw his net worth exceed $100 billion. Bonds are still strong (and interest rates low). Real estate pricing is robust. DaVinci painting sells for $450 million. Bitcoin – having no intrinsic value other than a frenzy of speculative demand – trades […]
Yield Curve “Conundrum”: Blame Japan For Flat Treasury Curve?

Yield Curve “Conundrum”: Blame Japan For Flat Treasury Curve?

Citigroup blames Japanese banks for the flat yield curve. The BIS notes a conundrum. Neither explanation is correct. A Citigroup analyst says don’t worry about the flat yield curve. Instead, Blame Japanese Banks. “We believe that the latest leg of curve flattening has been, to a large extent, driven by front-end selling from Japanese banks and […]
Gold Looks Like A Bargain Just In Time For Christmas

Gold Looks Like A Bargain Just In Time For Christmas

One of the most compelling and engaging presenters at the Precious Metals Summit in London last month was Ronald-Peter Stöferle, a managing partner at Liechtenstein-based asset management company Incrementum. Incrementum, as you may know, is responsible for publishing the annually-updated, widely-read “In Gold We Trust” report, which I’ve cited a number of times before. During his presentation, […]
This Hasn’t Happened Since 2009…

This Hasn’t Happened Since 2009…

Boy, oh boy: it certainly looks like the “rotation” trade is in full swing on Monday. Last week, as the odds of the GOP tax bill ultimately becoming law increased, more than a few analysts and commentators renewed calls for a rotation out of 2017’s best performers and into the sectors and names that have […]
RBA: Another Snoozefest

RBA: Another Snoozefest

This is a big week for economic data and events in Australia. The two most important releases to watch include the RBA’s interest rate decision tomorrow and GDP growth on Wednesday. Despite rate hike hopes throughout the year, the RBA has militantly pursued a neutral monetary policy. As such, consensus continues to expect no change […]
Tax Reform With Spending And Taxes At Historical Averages

Tax Reform With Spending And Taxes At Historical Averages

It’s conceptual possible, if not always practically convenient, to separate tax policy into two mainpieces. One issue is the tax cut vs. tax hike debate–that is, whether the total amount being collected should be higher or lower. The other issue is whether the tax code should be adjusted in some way to alter its incentives […]