Tag Archives: Bitcoin

Bits and Pieces – 20180331, Saturday

Trade Wars: Martin Armstrong has some interesting perspectives on the US moves, in this very short blog post: Protectionism & Trade Wars. The next article looks at the role of vehicles in trade wars between the EU and the US: France And Germany Clash Over US Car Tariffs. But consider this graphic from the article:

Bits and Pieces – 20180306, Tuesday

Commentary: If Trump continues, trade wars will be the start of the end ushering in the collapse of most markets and pricking the debt bubble. This is serious stuff. Be sure to see the 19 second video of our Rime Minister in the next section.

Bits and Pieces – 20180202, Friday

Commentary: I came across a Canadian blogger, Faith Goldy, with an extremely direct commentary on sex education in Ontario:

Bits and Pieces – 20180107, Sunday

Commentary: I generally avoid “the best … of 2017” of which there are a plethora. I also am careful about “what will happen in 2017”. After all, articles of this type are simply based on someone’s opinion. Here, however, are a couple you may not have seen:

Bits and Pieces – 20171229, Friday

Commentary: Closing off 2017. War has not broken out either in North Korea or the Middle East. However, the issues in these two areas remain unresolved. Iran seems to be the likely flash point.

I’ve been following the global cooling issue coincidentally with the grand solar minimum (GSM) and am convinced that it will be the most important event of the next decade next to a global war and a global economic collapse. In fact the three events have strong co-dependencies.

I am now publishing Bits and Pieces 3 or 4 times a month. This will continue but my focus is shifting to the GSM and its implications.

Bits and Pieces – 20171205, Monday

Commentary: While politicians, bureaucrats, the media and the general public are obsessing over the impact of anthropogenic CO2 on the climate and a segment of the climate science industry is busy trying to make models and data agree with the political agenda, other climate scientists are studying a much broader range of factors that are affecting our climate.

Bits and Pieces – 20171130, Thursday

WWIII: In case you weren’t sure China appears to have taken sides: China To Deploy Elite Troops In Syria To Fight Alongside Assad’s Army.

Climate: For the record: Health Officials Warn: 40,000 Could Die As Britain Hit With 3 Week Long Arctic Cold.

Bits and Pieces: George Friedman gives a succinct overview of Iran’s geopolitical position in the Middle-East, along with US blunders: Iran Reshapes the Middle East.

Canada Corner: The Financial Stability Board (FSB) has released their 2017 list of global systemically important banks (G-SIBs) and a new addition is the Royal Bank of Canada. Wikipedia defines a systemically important financial institution (SIFI) as a bank, insurance company, or other financial institution whose failure might trigger a financial crisis. The Basel III accord specifically targets SIFIs by requiring increased bank capital reserves as capital surcharges. The table published by the FSB lists 5 levels of additional capital requirement with the Royal Bank being in the lowest or 1% level.

Of note in the Wikipedia article is the statement: Virtually every Systemically Important Financial Institution operates at the top level as a holding company made up of numerous subsidiaries. Should a SIFI default and particularly a savings bank, this would allow for an orderly structured dissolution of the SIFI in a manner that subsidiaries that have deposits and other financial assets of the general population might be kept operational with assets intact while other subsidiaries are wound up to satisfy creditors. The intent would be to avoid bail-ins of depositors although politicians might be bought off lobbied effectively to go the bail-in route to protect wealthy investors.

The US Federal Reserve examined the adequacy of Basil III provisions for systemic protection in the face of a financial crisis: Are Basel’s Capital Surcharges for Global Systemically Important Banks Too Small?. The assessment of an adequate capital reserve is complex, is probably SIFI-dependent and the Basel III requirements are likely far short of what is necessary to preserve some, if not all, of the 30 SIBs in the event of a global financial system collapse. Since the SIBs known as the “too big to fail” banks are bigger now than in the 2008 financial crisis, the next global crisis will likely be unstoppable. The interconnected nature of the global financial system guarantees the entire house of cards will come down.

We may see one (RBC) or two of the major Canadian banks fail but all may go down due to inter-dependencies. Those banks with the highest international exposure may be the most at risk from a global systemic crisis. I have commented earlier how the Canada Deposit Insurance Corporation (CDIC) has capital sufficient to ensure less than 1% of the deposit base, so your money may be at risk.

The general recommendation by smart asset managers and authors is to  invest part of your capital in hard assets like precious metals and (farm) land. The wealthier are investing in fine art, antiques and precious stones. These will remain when money is totally devalued.

As a final note I would recommend cryptocurrencies only as a speculation in the same class as Dutch tulip bulbs were at one time. I read a reference in the past week to some fellow who lost his hard drive (in an unspecified manner) with the cryptographic keys to his 7500 Bitcoins which are now part of the estimated 4 million lost forever. At around $11,000 a coin currently that has to hurt.

Bits and Pieces – 20171126, Sunday

Commentary: A topic that has a small following is that of global cooling and an approaching grand solar minimum (GSM). Martin Armstrong speaks of the famine associated with such minima: The Approaching Famine. The “Little Ice Age” correlates with the Maunder Minimum in sunspot activity as shown in the next chart:

Bits and Pieces – 20171117, Friday

Commentary: In Bits and Pieces – 20170731, Monday, I discussed why Bitcoin can’t be considered to be a currency. Martin Armstrong, in discussion of the “petrodllar” (Is the Dollar Really a Petrodollar anymore?), lists its key features:

  1. it can be used worldwide without permission from the USA as is the case with the Japanese yen;
  2. it is a single currency with a single federal debt market where BIG money can park – that is not the case for the Euro, Ruble, or Yuan.

Bits and Pieces – 20170810, Thursday

Commentary: Martin Armstrong’s computer model has picked Aug. 12-13 and Sept. 11-12 as two key dates when a Korean conflict may begin: North Korea – Beware August 2017. That makes this weekend critical. There is more below that shows the growing tensions. George Friedman thinks there will be war but offers his thinking on NK behaviour: North Korea, Nukes and Negotiations. Finally … US “Confirms” N.Korea Has ICBM-Ready Nuclear Warheads, North Korea Responds To Trump Threat, Says It Is “Seriously Considering” Pre-Emptive Nuclear Strike On Guam, and Trump Threatens North Korea With “Fire And Fury Like The World Has Never Seen Before”. Which side makes the first move?

Some folks are beginning to look at the cost of a war with NK. Since the extent of the destruction cannot be known in advance, one can identify impacts while not being able to estimate them accurately. Read: How A Renewed Korean Conflict Is Going To Be Felt Around The Globe and “Under Any Analysis, It’s Insanity”: What War With North Korea Could Look Like.

Late comentary provides insight into one of the preferreed options: Pentagon Unveils Plan For “Pre-Emptive Strike” On North Korea. Most parties agree the a negotiated settlement would be the preferred option of them all.

I thought summer was supposed to be the quiet time when everyone went to the beach. The fall should be a doozy.

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