Another Sunday action by the Fed, this time less about regional US banks instead acknowledging major global (euro)dollar potential dysfunction. Some maybe a lot of that is coming from Switzerland. What the Fed and other central banks are up to and how Credit Suisse fits into the deflationary/inelasticity puzzle.

Markets and a British WW2 poster from the Ministry of Information.

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”2022 was one of the worst years for fixed-income investors in history. Bonds lost money. Stocks lost money. Crypto lost money. Inflation rose to levels not seen since the 1980s. The only thing that increased in value were commodities. You have to go back to the Civil War in the United States or the Napoleonic Wars in Britain to find a worse year for bonds”.

Annual Returns for Key Indices Ranked in Order of Performance (2003-2022)

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Investment opportunities exist all around the globe, but the randomness of global stock returns makes it exceedingly difficult to figure out which markets are likely to be outperformers. How should investors deal with this kind of uncertainty?

Liminal spaces are understood as physical locations that are transitional in nature, somewhere between origin and destination. Their aesthetics is associated with feelings of eeriness, apprehension, and nostalgia. Now, what would be its equivalent in financial markets?

The Netherlands has more stock market history than any other country. Trading in shares of the East India Company began trading in Amsterdam in 1601 and continued to trade until the company went bankrupt in 1794.

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The FOMC met today and hiked rates. More than that, they set course for more to come and policymakers holding those up for a longer period. And the markets completely, totally, utterly rejected the "almighty" Fed. This is why.

"distingué en quinze livres, esquels les ruses et impostures de Satan sont descouvertes, solidement refutées, et separées d'avec les sainctes propheties et d'avec les predictions naturelles."

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The world and the US$ in particular has operated on a virtual currency basis for decades. Without realizing it, most people have participated in this radical shift in money therefore banking. If currency is virtual, then what is it that banks actually do? Most people don't know or don't realize what banks really are and the world-altering consequences of this.

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“Don’t Buy In Until There is Clarity That You’re in a Bull Market”,

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"I think there was a second Volcker moment that gets less publicity but is also important, and that occurred in the summer and fall of 1982."