Overnight, Greece officially defaulted on its US$1.5 billion IMF loan. As expected, Tuesday’s deadline passed with no repayment forthcoming.
You might think the currency market is an orderly process for exchanging dollars, yen and euros as trade settles around the world.
Learn why it’s more accurate to think of the currency market as a freewheeling, unregulated and dynamic zone open to interventions, rigging and fixes.
It can lead to all sorts of traps for the unwary investor. Brokers, investment firms, speculators and central banks are all trying to get the market going their way. We try to make sure you’re on the right side of the trade.
Gold is useful. Like Bitcoin and dollars in hand (as opposed to dollars the bank owes you), gold is not under the thumb of the government…or the banks.
Greece is the canary in the coal mine for what could one day happen to your savings. In a crisis, banks will move fast to block access to your money.
Prime Minister Alexis Tsipras is urging a no vote. He believes the bailout terms are too harsh and will condemn Greece to years of poverty.
If countries are putting controls on real cash and banking, in what form should a person hold cash? If we truly go to a “cashless society” what good would having a hoard of cash do?’
The Greek crisis is just a microcosm of what’s happening across the globe. That is, a US dollar based international currency system has caused vast imbalances
Make no mistake, the currency wars won’t have a happy ending. Years of low interest rates and money printing won’t result in a victory that anyone can be proud of.
Morgan Stanley has predicted that the Australian dollar could fall to US$0.68 by the end of 2015.
The world is not always in a currency war. But when currency wars break out, they can last for a very long time.
Without further interest rate cuts, the banks will remain under pressure. Sadly, monetary policy is the only policy lever we’ve got.
Investors have long understood that gold is an excellent hedge against inflation. The analysis is straightforward.
The crunch that’s coming this year has been building for some time. It relates to the world’s pre-eminent reserve currency, the US dollar..
Those waiting for a sudden, spontaneous collapse of the dollar may be missing out on the dollar’s less dramatic, but equally important slow, steady decline.
The next financial collapse, will not come from hedge funds. It will come from junk bonds, especially energy-related and emerging-market corporate debt.
A window into the future… implants making coffee and providing inescapable propaganda… Gold no longer backing currency… a new world money…and more.