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by Marin Katusa, Testosterone Pit
There’s a major shift under way, one the US mainstream media has left largely untouched even though it will send the United States into an economic maelstrom and dramatically reduce the country’s importance in the world: the demise of the US dollar as the world’s reserve currency.
For decades the US dollar has been absolutely dominant in international trade, especially in the oil markets. This role has created immense [...] Marin Katusa: There’s a major shift under way, one the US mainstream media has left largely untouched even though it will send the United Statesinto an economic maelstrom and dramatically reduce the country’s importance in the world: the demise of the US dollar as the world’s reserve currency. For decades the US dollar has been absolutely dominant in international trade, especially in the oil markets. This role has created immense demand for US dollars, and [...] From Marin Katusa, Chief Energy Investment Strategist, Casey Research: There’s a major shift underway, one the U.S. mainstream media has left largely untouched even though it will send the United States into an economic maelstrom and dramatically reduce the country’s importance in the world: the demise of the U.S. dollar as the world’s reserve currency. For decades, the U.S. dollar has been absolutely dominant in international trade, especially in the oil markets. [...] By Marin Katusa, Chief Energy Investment Strategist There’s a major shift under way, one the US mainstream media has left largely untouched even though it will send the United States into an economic maelstrom and dramatically reduce the country’s importance in the world: the demise of the US dollar as the world’s reserve currency. For decades the US dollar has been absolutely dominant in international trade, especially in the oil markets. This [...] IN THE MAELSTROM of tax increases proposed by Maryland Gov. Martin O’Malley (D), it’s easy to lose track of which are most critical. For a start, it’s useful to identify which needs have been most and longest neglected — and near the top of that list is transportation. It’s been 20 years since Maryland raised its gasoline tax, the largest source of transportation funding. As construction costs have risen, the revenue [...] by ZH The latest scandalous childish spat in Europe is not between some hardcore religious fanatics in the former Yugoslavia, but between the two countries that traditionally (at least in post-war Europe) have been at the forefront of sense and stability: France and the UK, where things got out of joint after David Cameron vetoed the recent G-27 attempt to bailout French and German banks on the taxpayer’s dime, quickly followed [...] An important reversal of focus, expectation, and direction has taken place in Europe. Put aside the sovereign debt mess that will not go away. It will not be fixed, despite all the effort and talk and deal making. They must prepare for a string of bank failures and a Greek default. Every solution executed or proposed or pending involves the same lunatic device of creating [...] Daily Ticker With troubles in Europe’s banking system threatening to contaminate the global financial system, it’s beginning to look a lot like 2008 to many observers. History doesn’t repeat, but it often rhymes which is why Robert Wiedemer of Absolute Investment Management believes investors need to prepare for another 2008-style maelstrom — or something even worse. “I do think we’ll have another meltdown within 2 to 4 years,” [...] From CNBC: Treasury yields , as a result, slipped to historic lows with the 10-year yielding 1.75 percent and the 30-year at 2.86 percent. The dollar was also a beneficiary of a massive fear trade that sent U.S. stocks sharply lower, on the heels of steep sell-offs in equities markets around the globe. The worst performing stock market sectors mirrored the sell-off in global commodities markets, [...] From Peter Tchir of TF Market Advisors Credit Is From Mars, Stocks Are From Venus So stocks rallied into the conference call. Stocks rallied after the conference call. I have the various headlines and stories surrounding the statements following the conference call. I am bearish, but I try to adjust for that as I read things to attempt to see if something has changed. [...] Image: Wikimedia Commons That means it’s time we returned to the real crisis in the world, and that’s Europe. It was a little over a week ago that the EU held a big bailout party for Greece, unveiling a brand new and bigger bazooka, designed to restructure Greek debt, and prevent the ragin’ contagion from hitting Italy and Spain. The optimism last for like a day. Since then, Italian stocks [...] BANKING is an industry that lacks acceptable faces. The bail-outs are too fresh and the bonuses too large for it to be otherwise. But if any institution has a chance of being heard on the topic of financial regulation, it is JPMorgan Chase (JPM), a big bank that helped to pick up struggling rivals during the crisis and can argue more plausibly than others that [...] by Joe Weisenthal A JPMorgan analyst suggests that the current maelstrom surrounding banks could cost the industry somewhere between $50-$120 billion, but arguably the fears here are being overblown. But there is a clear threat that is very easy to see: the economy is weak and banks don’t have the business volume to make a lot of money. As credit specialist David Goldman observers, banks are still plowing more [...] |
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