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10/21/2020 - Alejandro Tagliavini – Apostando entre la soja y el (ciber) oro

“El potencial alcista del oro a largo plazo es grande y resulta una protección cuando el gobierno se vuelve muy “agresivo” en el sentido presupuestario. Pero en forma física es complicado adquirirlo y no vale la pena, entre otras cosas, por el costo de almacenamiento. ¿Cuáles son las alternativas?”

LINK HERE to the Article

Disclaimer: The views or opinions expressed in this blog post may or may not be representative of the views or opinions of the Financial Repression Authority.


10/20/2020 - Daniel Lacalle: Central Bank Digital Currency, A Growth Or Financial Repression Tool?

“The reason why citizens demanded cryptocurrencies is precisely because they were not controlled by central banks that constantly aim to increase the money supply and generate depreciation of money, inflation ..

Central banks should defend the purchasing power of savings and salaries, not aim to erode them. If they decide to use new tools to dilute wealth, confidence in the domestic currency will evaporate. The fact that it has not happened yet does not mean that it is not going to occur sooner rather than later. When central banks finally realize that they have gone too far with their policy it will be too late.”

LINK HERE to the Article

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10/18/2020 - Dr. Albert Friedberg – Long-Term Risk is Stagflation

“The mystery and risks surrounding the early days of the pandemic, the fear of the “Unknown” and the fear of a depression, are now a thing of the past. Super- Third Quarter Report 2020 • Friedberg Mercantile Group | 3 easy money and a series of large fiscal injections, with the promise of more to come, have persuaded even the milquetoasts that risks have disappeared. As we see it, it’s not unreasonable to believe that those precise risks have been set aside for now. But, in our opinion, we seem to have exchanged the immediate risks of generalized defaults and depression for a longer and more insidious risk: stagflation.”

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10/16/2020 - Alejandro Tagliavini – Llegó la hora de comprar “valor” (y oro)

“Durante el coloquio de IDEA casi el 70% de los empresarios argentinos afirmó que el próximo semestre será peor que el anterior. Mientras el dólar blue y el CCL no encuentran techo y la inflación es récord mundial (descartando Venezuela que no es un país, sino un territorio secuestrado por una banda).”

LINK HERE to the Article

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10/14/2020 - The Roundtable Insight – Adam Rozencwajg on Investing in Commodities and Natural Resources

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10/13/2020 - The Roundtable Insight – Charles Hugh Smith on Inflation

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10/07/2020 - The Roundtable Insight – Dr. Marc Faber & Yra Harris on What’s Happening in the Economy and Financial Markets

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10/05/2020 - Live Podcast Recording on Global Economy with a focus on Europe and Argentina – in Spanish

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LINK HERE to the Podcast on Thursday Oct 8 at 1230pm ET

LINK HERE to the Flyer

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10/05/2020 - Investing Outlook Presentation by Felix Zulauf

LINK HERE to Register and Watch

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10/05/2020 - Alejandro Tagliavini – Seguimos con el oro y, por qué no, el “ciber oro”

“Hay un principio físico básico que el gobierno no entiende (mejor dicho, no quiere entender porque no le conviene, como que el presidente del BCRA ahorra en dólares, desde que sabe que esa es la verdadera moneda, y lo quiere tener controlado). Este principio es el de acción y reacción: toda fuerza física produce una reacción contraria de la misma proporción. O sea, cada piña que pega le viene de vuelta.”

LINK HERE to the Article

Disclaimer: The views or opinions expressed in this blog post may or may not be representative of the views or opinions of the Financial Repression Authority.


10/02/2020 - Yra Harris: Narcissism Has Consequences

“The massive DOLLAR debt overhang needs a weaker U.S. currency to provide relief for sovereign or corporate borrowers that need of money to meet debt payments. The FED will not speak about the DOLLAR but a weaker dollar would be a needed tool to assist its drive for ever higher inflation. The flip side is that those warning about a TOO STRONG EURO miss an importance NUANCE. A stronger EURO reflects the idea that Europe and President Lagarde may be embarking on the correct policies.

Currencies are not always about ATTAINING A TRADE ADVANTAGE. At times the financing implications for the role of the RESERVE CURRENCY outweigh any lagging effects of trade. Do your technical work to see where the battle of DOLLAR BULLS AND BEARS is going to be fought.

The continued rally in the precious metals points to the FED‘s need for a weaker currency. If the DOLLAR were to rally I believe the central bank would move to enact YIELD CURVE CONTROL (YCC), something Chairman Jerome Powell seems reluctant to even mention since his Jackson Hole speech in August.”

LINK to the Article Here

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09/27/2020 - Alejandro Tagliavini – Líquido en dólares, de momento, y oro (exit Argentina)

“Wall Street parece inestable, al fin en fase de corrección del movimiento alcista que se inició en los mínimos de marzo. La volatilidad que mide el índice VIX de la Bolsa de Chicago, ligado al S&P 500, en la semana sube un 2,7%. ”

LINK HERE to the Article

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09/27/2020 - The Roundtable Insight – George Gammon on the Economy and Investing

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09/25/2020 - Alejandro Tagliavini – A full con el oro

” Argentina está de moda. Este jueves, en un momento, ocupaba las tres primeras posiciones entre las noticias más leídas en Bloomberg: 1.- El brote del virus en Argentina se desata mientras la región experimenta cierto alivio, 2.- Los argentinos están comenzando a sacar sus ahorros en dólares de los bancos, 3.- La curva de rendimiento invertida de Argentina refleja el riesgo de incumplimiento.”

LINK HERE to the Article

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09/21/2020 - Alejandro Tagliavini – De Wall Street inflacionada y el cepo inflacionario

” Wall Street termina su tercera semana consecutiva en ‘rojo’ con sus índices alejándose de sus niveles de máximos históricos. La reunión de la Fed marcó la semana y la falta de nuevas medidas dejó dudas. La negociación de un segundo paquete fiscal en el Congreso, de entre US$ 1,5 y 2,2 B, no han sido suficientes fuegos artificiales para animar la bolsa. El Dow Jones cayó 0,03%, el S&P 500 bajó 0,59% mientras que el Nasdaq 100 dejó 1,36%. En lo que va de 2020, el Nasdaq gana 25,2%; el S&P 500 el 2,78%, y el Dow Jones pierde 3,09%.”

LINK HERE to the Article

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09/17/2020 - The Roundtable Insight – Peter Boockvar and Yra Harris on the Financial Markets, Commodities and Economy

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09/14/2020 - The Next Subprime Crisis could be in Food

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09/14/2020 - Alejandro Tagliavini – ¡Ojo con Nvidia! (y Tesla) y siempre mirando el oro

“La tecnología tuvo su peor semana desde marzo a la espera de lo que diga la Fed en los próximos días ya que, tras la vuelta de sus vacaciones, Jerome Powell podría anunciar nuevos estímulos ante la falta de acuerdo dentro del Senado para “dinamizar” -fuegos artificiales hoy, inflación y hambre para mañana- la economía. El Nasdaq 100 cayó en estas últimas cuatro jornadas (el lunes fue feriado) un 4,6%. El S&P 500 dejó un 2,47% y el Dow Jones perdió el 1,66%.”

LINK to the Article

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09/11/2020 - Alejandro Tagliavini – ¿Podrán los bancos centrales seguir inflando a las bolsas, o caerán?

“Hace mucho tiempo que vengo señalando que Wall Street está sobrevalorada y que es inevitable una corrección, lo que no está del todo claro, aun cuando hoy ha caído sostenidamente, es cuando ocurrirá y hasta qué punto. Como casos sintomáticos, mientras Apple (Nasdaq:AAPL) sí que baja sostenidamente Tesla (Nasdaq:TSLA) se recuperó como anticipé en Twitter el martes:

“@alextagliavini ojo Elon Musk hace un rato twitteó a la guerra como a la guerra, hoy Tesla cayó 21%, 33% desde su máximo, será hora de comprar con este rumor?: @zerohedge Will Tesla announce a $5 billion stock buyback? Stay tuned…”

LINK HERE to the Article

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09/08/2020 - The Roundtable Insight – Larry Berman and Yra Harris on the Financial Markets

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