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All Posts Tagged With: "fiat money"

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Australia’s Place in the World of Debt – An Each-Way Bet On The 21st Century

Australian government debt (Federal) crossed the $200 billion barrier last year. In a few short years, then, the government has gone from a modest $20 billion surplus to a $200 billion debt. That debt is still small as percentage of GDP compared to the US, Japan, and the UK. But it’s a lot larger than it was a few years ago…and once these things get rolling, they have a way of building momentum.

January 25th, 2012 | Dan Denning | 7 comments | Continued
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Central Banks Play: Print…Ready…Aim

All central banks are desperate to stop stress from building in the global banking system. Despite what they say, job No. 1 of every central bank is to do whatever it takes to prevent a disorderly collapse of banks caused by “bank runs.”

December 6th, 2011 | Dan Amoss | 0 comments | Continued
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US Bonds Ride Euro’s Demise

The looming breakdown of the Euro is a massively deflationary event for stock and commodity prices (although not US bonds, as you’ll see in a moment). It’s going to dominate the news until the moment reaches its crisis. And the crisis may be at hand.

November 22nd, 2011 | Dan Denning | 4 comments | Continued
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The Market Volatility Big Picture

Today, the market is up nearly 100 points (at the time of writing). Who would have thought Greek Referendum could have such an influence on the Aussie market?

But as we’ve said many times before, such market volatility is not a sign of strength – it’s a sign of extreme fragility.

November 4th, 2011 | Greg Canavan | 8 comments | Continued
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U.S. Government Must Roll Over $3.4 Trillion in Debt Over Next Four Years

And if America can’t find anyone willing to finance its deficits, what then? Well, the luxury of issuing debts in the currency you also print is that you can print money to pay for them. Technically, you can never become insolvent when you enjoy this privilege. The Fed, for example, can create new money to buy debt issued by the Treasury, funding deficits ad infinitum.

November 3rd, 2009 | Dan Denning | 5 comments | Continued
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Will Gold Make Higher Highs From Here?

What’s more, the emergence of the gold exchange traded funds (ETFs) has put a huge portion of the gold market in a very small number of hands. If the ETFs sell…who will they sell to? Or more succinctly, a lot of the gold demand is coming from a few institutions. If other institutions (central banks and sovereign wealth funds) don’t pick up the slack, there will be more sellers than buyers and prices will fall.

October 7th, 2009 | Dan Denning | 3 comments | Continued
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Important Financial Anniversary: Collapse of Lehman Brothers

Tomorrow is one of the most important financial anniversaries of the last 100 years. But how will investors celebrate? Or will they mourn? Or will even more of them start to buy gold, which traded at around US$1,006 in the futures markets?

September 14th, 2009 | Dan Denning | 0 comments | Continued
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China and its Perplexing Investment Strategy

But let’s start with sovereign wealth fund of China, the China Investment Corporation (CIC). CIC was set up in 2007 with US$200 billion of China’s nearly $2 trillion foreign exchange reserves. It’s been shopping ever since, with mixed results. Last year, for example, CIC stood pat and only invested US$4.8 billion outside China.

September 3rd, 2009 | Dan Denning | 2 comments | Continued
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Perhaps This Recession Will Be One for the Ages After All

In today’s Daily Reckoning, we’ll review the contradictory claims. We’ll also tell you what Alan Greenspan whispered in our ear the other night about gold, inflation, and the bond market. And we’ll ask more stupid questions about government.

April 16th, 2009 | Dan Denning | 13 comments | Continued
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All Roads Lead to Zimbabwe

How exactly more credit and a cash binge will support asset values escapes us. But it’s possible that Australia is now in lock-step with every other central bank and government in the world, and that all monetary roads lead to Zimbabwe, where a brave but brittle paper currency has gone to its god like a soldier, to paraphrase Rudyard Kipling. Rest in peace, Zimbabwe dollar. Robert Mugabe and Gideon Gono have blown out your brains and gutted the Zimbabwe economy…

January 30th, 2009 | Dan Denning | 2 comments | Continued
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Emergency Private Pension Plan

The simplest kind of stimulus governments the world over could provide is to cut withholding taxes. Let people keep more of their money from each pay check. People will then do what they have to do. That is, they’ll either use the cash to pay down debts, save it, or spend it. Meanwhile, governments can borrow and spend all they’d like on “shovel ready” projects. This will never happen, of course…

January 14th, 2009 | Dan Denning | 4 comments | Continued
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Irving Fisher Has Come Back Into Fashion

It is extraordinary how the great American Economist, Irving Fisher, has come back into fashion. In the last week I have seen substantial references to him in The Times of London…

November 28th, 2008 | William Rees-Mogg | 5 comments | Continued
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    The Markets

    All Ordinaries4322.600  chart0.000
    S&p/asx 2004245.300  chart0.000
    China Shanghai Co2351.981  chart+2.392
    Gold Sep 110.00  chart0.00
    Clj11.nym0.00  chartN/A
    Nikkei 2258947.17  chart-55.07
    Indu0.00  chartN/A
    S&P 5001342.64  chart-9.31
    Ftse 1005852.39  chart-43.08
    2012-02-10 00:50

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