copper

Collateral Silos And The Deflationary Gold Rush

By |2018-08-15T11:31:01+00:00August 15th, 2018|Bonds, Commodities, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

It was never really all that much. The best that might have been said was that it was a pause in the building of renewed deflationary pressures. The dollar had “risen” again especially in April and May, but then traded sideways through July. It wasn’t a rebound or even much that was positive, just less [...]

Deflationary Decade(s)

By |2018-08-06T16:44:09+00:00August 6th, 2018|Commodities, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

I’ve seen a lot of commentary lately describe conditions as if things are calmed down. There was a bit of growth scare, a little T-bill indigestion earlier in the year. The Chinese are somehow both stimulating their export sector by devaluing CNY, and also controlling the price of gold while they do it. The contradictory [...]

The Difficult Wargame of Sorting Financial Intelligence Signals

By |2018-07-20T17:45:01+00:00July 20th, 2018|Commodities, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

After the Soviet invasion of Afghanistan in 1979, the Russians became hyperaware of US and NATO countermovements. There was an increase in bellicose rhetoric on both sides, and the Andropov years had left the Soviet leadership weakened by economic stagnation increasingly worried that the US just might launch a first-strike attack. The Communists developed a [...]

Not Exactly Paradox, Reflation In Oil Deflation In Copper

By |2018-07-11T16:49:36+00:00July 11th, 2018|Commodities, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

The PBOC really needn’t have conducted the last few of its RRR raises. By the time they were in the books, Chinese inflation was already well underway toward being tamed. Though their CPI wouldn’t register for a few more months still, peaking in July 2011, commodities had already turned decidedly downward. Copper went first, hitting [...]

Talk About Binary; No In Between, Either Boom or Renewed Deflation

By |2018-07-05T17:22:38+00:00July 5th, 2018|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

CNY has held up over the last few days after Chinese officials intervened. Central bank actions like these tend to work if only over the very shortest timeframes. The tentative calm there, however, hasn’t extended universally. Copper, for one, has fallen right out of its Reflation #3 range. Selling off solidly for almost a month [...]