Last Exit From Brussels

"€œThe peculiar essence of our financial system is an unprecedented trust between man and man; and when that trust is much weakened by hidden causes, a small accident may ...

Narco Liquidity

"€œNarco money is the foundation of the modern financial system."€ These are the words of Viktor Ivanov, head of the Federal Drug Control Service of Russia. In a speech ...

Dignity in Dirty Work

Stop me if you"€™ve heard this one before: There are some jobs Americans won"€™t do. Therefore, we need Third World labor to come pick up the slack. If I had a nickel for ...

The Resort That Was Too Big to Fail

Since 2008 the world has seen a good number of corporate catastrophes. So many, in fact, that a new subgenre of journalism called financial disaster tourism was invented by ...

The First-and-Last Commodity

A quick look at last week's global financial news might easily mislead a reader to panic under the overriding negative sentiment of a sector not yet able to forget the nightmare ...

Bad Medicine

Speaking before the House Oversight and Government Reform Committee, the embattled ex-CEO of Turing Pharmaceuticals, Martin Shkreli, defended his choice to increase the price of ...

Your Best Bet Is Volatility

In a week of uniformly bad news for the capital markets, certain keywords repeated across the media. Signifiers like contagion, fear, or shock linger in the mind like echoes of a ...

Ferrari or Supertanker?

January 2016. A hard landing for world markets and the world economy. Leading indicator the Baltic Dry Index, which measures the cost of chartering a cargo ship, fell to an ...

Xinjiang, China

Clash of Civilizations: 2016

Twenty years ago, Samuel Huntington published his game-changing book The Clash of Civilizations. A Jan. 8, 2016, analysis by Stratfor correspondent Eugene Chausovsky shows that ...

Joaquín

Bring Me the Head of El Chapo

In 1974, the legendary Western director Sam Peckinpah made a small masterpiece entitled Bring Me the Head of Alfredo Garcia. El Jefe, a Mexican "€œboss man"€ protected by a ...

Mike Tyson

In Search of Lost Money

Last week we wrapped on the possibility that bitcoin (BTC) might be backed by gold or another asset class, although gold and BTC have a special affinity in that they are both ...

The Golden Rule

"€œI believe in the Golden Rule"€”the man with the gold...rules."€ "€”Mr. T Precious-metals expert Ned Naylor-Leyland is an investment manager at Quilter Cheviot, ...

Your Kids Will Not Know What Money Is

"€œYour kids will not know what money is,"€ Apple's CEO, Tim Cook, told U.K. broadsheet The Daily Telegraph in November 2015, predicting that cash itself will disappear ...

Seeing the World Through Third World Eyes

Last night wasn"€™t particularly eventful. We went out to dinner with some guys from work to celebrate Christmas break. The restaurant wasn"€™t very fancy and we spent a ...

Beyond the Zero Bound

"€œWe live in strange times. No Western government gets to stay in power unless they spend more money than they receive."€ "€”Richard Hubbard Last week's column ended upon ...

Nowhereland: The Financial Now?

The announcement was printed with little fanfare. On Feb. 1, 2013, the Dow Jones Industrial Average (DJIA) exceeded its precrisis high point of $13,903.01, hitting $14,054.49. The ...


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