“If there was a free market, then you would have witnessed the bonds crash in price and interest rates rise as people perceived risk. The introduction of negative interest rates which began in late 2014 going into 2015.75 and Quantitative Easing, shifted the risk from the free market to the central banks. This is what I mean that they are now TRAPPED! If interest rates rise, their portfolios crash in value (price).

Now we have a serious crisis that has shifted from the free trading bond markets exclusively to the central banks. This is now part of the crisis unfolding in the REPO Market. There does not appear to be any recovery on the horizon. Politicians are undermining the confidence in government, to begin with, and that will influence bond buyers.”

LINK HERE to the Article 1

LINK HERE to the Article 2

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“En lo que va de febrero, los mercados globales suben: el S&P 500 más de 4,5% llegando a máximos históricos. Ahora, trepan los sectores de mayor riesgo, el ETF de semiconductores VanEck Vectors (NYSE:SMH) más de 10%, el de SPDR S&P Biotech (NYSE:XBI), casi 9% y el de SPDR (NYSE:XLK) del sector tecnológico 6,5%. En cambio, han tenido el peor desempaño los de aversión al riesgo: el ETF SPDR (NYSE:XLU) de servicios públicos y los ETF SPDR (NYSE:XLP) de consumo y de productos de primera necesidad.”

LINK HERE to the Article

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“Según Capital Economics, “los esfuerzos para contener el coronavirus han provocado una fuerte desaceleración del crecimiento en China” y, a nivel global, llegarían a u$s280.000 M las pérdidas económicas durante el primer trimestre de 2020. El PBI mundial no crecerá en términos trimestrales por primera vez desde 2009.”

LINK HERE to the Article

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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.

“The GOLD /CURRENCIES making new highs is indicative NOT OF INFLATION SCARCITY BUT OF CENTRAL BANKS LOSING CONTROL IN THE FACE OF A HEIGHTENED FEAR OF DEFLATION. It is the fear of deflation in a world saddled with record amounts of DEBT,  which the International Institute of Finance (IIF) has cited at more than $250 trillion.

This is what has frightened the Bernanke school of central bankers: deflation in a debt-plagued world. As Powell told me in June 2016 about how the ECB could guarantee their debt load, “THEY HAVE A PRINTING PRESS.” I fear that his response will go VIRAL.”

LINK HERE to the Post

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“Según un informe de Coldwell Banker, ya son 618.000 los millonarios millennials en EE.UU. En parte es herencia de sus propias familias, y para 2030 heredarán unos u$s 68 B en total. “Los millonarios de ahora heredarán aún más que sus padres baby boomers, considerados la generación más rica de la historia”, dice el informe.’

Link here to the Article

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“The financial and economic outlook for the next few years hangs on this question. For the better part of this millennium, and for the whole of the past decade, central banks around the world bought assets in colossal amounts, printing more fiat money than the cumulative amounts printed since the Great War — and since central banks were invented. And contrary to the generalized expectation, they did so without affecting price levels. In effect, they printed money with total impunity.”

“For central banks around the world, the end of their acting with impunity is coming. Accelerating inflation, when (and if) it comes, will have a cataclysmic effect on financial markets.”

LINK HERE to the Quarterly Report

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Mostrando que son los mismos keynesianos, con diferentes matices, Gobierno y macrismo lograron media sanción para la “Restauración de la sostenibilidad de la deuda pública externa”, que autoriza a negociar y pagar comisiones, entre otros puntos. Romina Del Plá -Frente de Izquierda- aunque probablemente proponga soluciones desacertadas, acierta al decir que es “el sometimiento… al FMI, a los banqueros… hundiendo y sometiendo a los trabajadores y al conjunto de la población…”.

Link to the Article

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“Con tasas de interés negativas en términos reales e incertidumbre en torno de la deuda -y el ruido de BA-, los inversores se “fugan”. El dólar Bolsa o MEP subió un 14% en un mes y cerró el viernes a $81,86, casi igual que el solidario, en tanto que CCL quedó en $83,29.”

LINK HERE to the article

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“O sea, que el problema argentino va más allá de la economía, es moral: sucede que existe un alto nivel generalizado de violencia en todos los órdenes y sectores del país, también en economía.”

LINK HERE to the Article

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“Pasaron ya cuarenta días del nuevo gobierno y quedan cosas por definir, pero, de momento, es una continuidad de lo básico del macrismo, solo diferente en cosmética.”

Link to the Article

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“El 23% de las empresas recortaría sus inversiones en 2020 y solo un 25% las incrementaría, cuando en 2017 el 81% proyectaba un aumento, según EY. Los empresarios esperan aire fresco del nuevo Gobierno, pero de momento los números no dan. El 55% cree que sus ventas crecerán en 2020 -debido a la inflación, en términos de volumen no son tan optimistas- el 11% que se mantendrán constantes y el resto que caerán. Y asustan las amenazas, como que aplicarán la ‘ley de góndolas’ si las ganancias ‘son excesivas’.”

Link here to the article

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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.

Download the Podcast in MP3

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.

Download the Podcast in MP3

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.

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.

Download the Podcast in MP3

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.

Download the Podcast

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.

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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.