Category Archives: Monetary Policy

Why the Yen is swan diving

Posted on March 5, 2012 by macromon

The WSJ does a good explaining what is driving the Yen and seems to agree with us that there is a huge difference between quantitative easing to stimulate the economy versus monetizing bad government debt for which there is no … Continue reading →

Posted in Black Swan Watch, Japan, Monetary Policy, Sovereign Debt | Tagged , , , | 3 Comments

“Rent Control” Misnomer

Posted on March 2, 2012 by macromon

A friend of the Global Macro Monitor corrects us on our post, Fed’s “Rent Control” Policies Starting to Distort, The fact that the fed is fiddling with the yield curve disguises the equilibrium price of LT debt. The way the fed … Continue reading →

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Chart Trioka

Posted on March 1, 2012 by macromon

We’re keeping these three charts on our radar over the next year. With a heavily spiked punch bowl,  we suspect U.S. monetary policymakers will be a little nervous if they start to see bank credit accelerate and a rapid expansion … Continue reading →

Posted in Economics, Inflation/Deflation, Monetary Policy | Tagged , , , | Leave a comment

Euro banks tap LTRO2

Posted on February 29, 2012 by macromon

(click here if video is not observable)

Posted in Black Swan Watch, Euro, Monetary Policy, PIIGS | Tagged , , , | Leave a comment

Bernanke’s “No Mas” Send Gold, Bonds, & Yen into Swan Dive

Posted on February 29, 2012 by macromon

Wow!  Take a look at gold, bonds, and the yen after Fed Chairman Ben Bernanke’s testimony on Capitol Hill was interpreted as “no mas” on further quantitative easing.  We we’re a little too complacent with our covered gold positions and … Continue reading →

Posted in Bonds, Gold, Japan, Monetary Policy | Tagged , , , , | Leave a comment

Gold Rebounds as Bernanke Confirms Easy Money

Posted on February 7, 2012 by macromon

In his testimony at the Senate Budget committee this morning,   Fed Chairman Ben Bernanke,  resisted the temptation to day trade monetary policy on the back of Friday’s good employment data.   Our sense is the global printing press’ and zero interest … Continue reading →

Posted in Black Swan Watch, Gold, Monetary Policy, PIIGS, Sovereign Debt, Sovereign Risk | Tagged , , , | Leave a comment

Capitano Crunch: Europe’s Collapsing Monetary Aggregates

Posted on January 30, 2012 by macromon

Here are some great pictures from Credit Suisse illustrating what’s happening in the European monetary sector.  The monetary aggregates have been collapsing at a greater pace than 2008/09  as banks have been cutting credit and shrinking their balance sheets to … Continue reading →

Posted in Black Swan Watch, Credit, Euro, Monetary Policy, Policy, Sovereign Risk, State and Local Government | Tagged , , , | 4 Comments

Blast Off!

Posted on January 25, 2012 by macromon

Thanks, Ben.  We were getting worried there.  Cash gold is up $30, after hitting a high of $1,705.    Next up LTRO2.  Always with a stop. (click here if chart is not observable)

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Romney’s Gift from Bernanke

Posted on January 25, 2012 by macromon

Mitt Romney just received a huge campaign gift from Ben Bernanke as he moves to the Florida primary.    The Fed just announced they will continue to flog savers  — i.e., Florida retirees who live off CD income, and we’re … Continue reading →

Posted in Black Swan Watch, Japan, Monetary Policy, Sovereign Debt, Sovereign Risk | Tagged , , , , , | 4 Comments

Fareed Zakaria’s GPS: Krugman and Rogoff

Posted on January 17, 2012 by macromon

Great exchange between Krugman and Rogoff on Fareed’s GPS yesterday.   Here’s the money rumble: FAREED ZAKARIA:  Paul, you had a column and a really striking graph, where you point out that if you’d asked yourself what has the market told … Continue reading →

Posted in Black Swan Watch, Economics, Fiscal Policy, Monetary Policy, Whales | Tagged , , , | 3 Comments