After the SNB suddenly abandoned the CHF ceiling last week Steen Jakobsen, chief Economist & CIO at Saxo Bank tells the world  ‘central banks have lost credibility’ and he even predicts ‘the beginning of the end for central banks will be well under way.’ He even asks his readers the ‘bigger question: Why is it that Read the full article…

I have been studying the Chinese monetary and gold policy for a number of years and have learned essential information hasn’t been covered by Reuters and Bloomberg. The fact that the most important pieces of information are only available in Chinese, explains why it doesn’t show up in google searches. (No, google translation doesn’t cover Read the full article…

The day before Christmas is a good day for bad news. In 2013 the IMF decided to publish a Rogoff/Reinhart study on sovereign debt (restructurings) on Christmas Eve, possibly in an effort to avoid too much press attention. This year former European Central Bank President Jean-Claude Trichet choose the 24th of December to give his Read the full article…

According to Dr. Martin Murenbeeld, economist at Canadian Dundee Capital Markets, China wants the yuan and gold to be included in the SDR. In his weekly Gold Monitor, published in December 12, he wrote; ‘.. we fully expect China will demand that both the yuan and gold be included in the SDR-basket when the IMF reviews the Read the full article…

Since the credit crisis world central banks balance sheets grew by some $10 trillion ($10,000 billion). Since money can only be created as (new) debt the total amount of debt (treasuries) grew by $10 trillion as well. This debt (US Treasuries, BOJ-bonds etc) are managed by the likes of Bill Gross (ex-Pimco etc.). Because these Read the full article…