Money is leaving active management and pouring into passive vehicles like ETFs. What will cause it all to come down? You get three guesses, and the first two don't count.
Hello all. I left out a transition in my piece this morning while editing. It has been updated. Apologies if you read the email and part one didn't line up with part two.
This was great. Thank you. I agree with about 85% of this, especially the road of fiscal represssion and the Yuan's inevitable devaluation. What gets me - however - is this argument that central banks have tightened too much. Despite raising rates, the Fed has artificially injected about $2 trillion into the system since 2022 via tools that are QE-like.
This monetary system that he's describing - IMO- is perpetually loose to address China's policies and adoption into the WTO and the fall of the Berlin Wall... both massively deflationary events.
Hello all. I left out a transition in my piece this morning while editing. It has been updated. Apologies if you read the email and part one didn't line up with part two.
Mr. Baldwin
The article in this link has some interesting ideas regarding the future monetary system.
https://themarket.ch/interview/russell-napier-we-are-headed-towards-a-system-of-national-capitalism-ld.12718?_bhlid=d96f704918a9a361e22f24f9ef3db079b6b1afa0
enjoy,
CB
This was great. Thank you. I agree with about 85% of this, especially the road of fiscal represssion and the Yuan's inevitable devaluation. What gets me - however - is this argument that central banks have tightened too much. Despite raising rates, the Fed has artificially injected about $2 trillion into the system since 2022 via tools that are QE-like.
This monetary system that he's describing - IMO- is perpetually loose to address China's policies and adoption into the WTO and the fall of the Berlin Wall... both massively deflationary events.