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SPECIAL GUEST HOST: JOHN RUBINO, Author & Publisher of DollarCollapse.com

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The Fed Shocker

PART I

What Spooked the Fed?

Gordon T Long & John Rubino

21 Minutes, 20 Slides

What spooked the Fed into shocking the markets with its reversal on the expected September initiative of a "Taper" Policy? There are the reason the Fed gave. Additionally, there are the reasons the Fed chose not to discuss. Then there are the behind the scenes reasons. All are discussed in this video between Gordon T Long and John Rubino.

What may equally surprise many are the results of the recent G20 Summit Meeting which led up to the Fed's announcement.

What is very evident is that the US Fed Reserve has been forced to react to global pressures as much as the quickening deterioration of US economic conditions.

 

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SPECIAL GUEST HOST: Andrew Joseph , Principal of GoldenPhi & Publisher Triggers.ca

The MACRO ANALYTICS: A Technical Update

GoldenPhi & Gordon T Long

28 Minutes, 22 Slides

The Technicals of the Key Currency Cross Driver$ along with the S&P 500 and Gold are discussed in this 28 minute video with 22 supporting graphics.

CURRENCY CROSSES

Global Currency Trading accounts for nearly $5 Trillion per day. It is the 800 pound Gorilla and when it sends signals investors need to pay attention. Most major historical stock market corrections have been the result of significant realignments in currencies.

There is presently a very unusual technical correlation of Inverse Boundary Ellipses occurring which gives us a strong clue of what is ahead for the Global Macro, the Equity, Bond and Precious Metals markets.

 

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ROUND TABLE:

Regular Co-Host: Ty Andros , President, Traderview, Author & Publisher ofTedbits Web Site & Newsletter

Special Guest: Axel Merk , is the President and Chief Investment Officer of Merk Investments, manager of the Merk Funds. He is a recognized expert on the global economy, monetary policy and international investing.  An authority on currencies, he is a pioneer in the use of strategic currency investing to seek diversification and has been named a “Currency Guru” by Morningstar.  Axel Merk is a regular guest on CNBC, FoxBusiness and Bloomberg.  His columns and interviews frequently appear in the Financial Times, Wall Street Journal, Barron’s and other financial media around the world.  Merk is a sought after expert speaker at industry conferences, including the annual conferences of the CFA, FPA and AAII, as well as at universities, government organizations and think tanks.  Merk's expertise encompasses topics ranging from the global economy, gold and currencies to sustainable wealth and personal finance. Axel Merk’s Book “Sustainable Wealth” was published by Wiley in 2009 and his newsletter Merk Insights reaches a wide audience of investors, analysts and media following global macroeconomic issues and implications to investing.

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GLOBAL CURRENCIES - ASIA CRISIS II

PART II

EURO, YEN, ASIA & EMERGING MARKETS

with Special Guest AXEL MERK

PRESIDENT & CIO MERK INVESTMENTS,

MANAGER OF MERK FUNDS

& Gordon T Long & Ty Andros

36 Minutes, 56 Slides

In Part II of this 70 minute, two part series, Axel Merk in discussions with Ty Andros and Gordon T Long, covers a broad range of the most important Global Currency issues relevant to investors.

BIGGEST GLOBAL RISK

Axel Merk believes the world is becoming less stable. This means investors must become more active. Gone are the days of passive 'mom & pop' investors and instead are being replaced by aggressive monetary and quant market drivers. It is presently therefore critically important to realize that:

“The biggest risk to the world is that the current economic and monetary policies will work and we get economic growth. If this happens, bonds will plunge, interest rates will rise and governments will be unable to finance their debts!”

This realization is one of the hidden underlying drivers now impacting global currencies and driving increasing volatility.

CURRENCY: YEN

Nowhere is the dysfunctional policy actions of politicians more evident than in Japan. The largest debtor in the world is now dramatically 'doubling down' with its "ABE-nomics"policies. As perilous as the Japanese economic policies are, with Japan having a negative current account balance position, its DEBT NOW MATTERS. Until recently, it hasn't!

CURRENCY: ASIAN TIGERS

The currency shock waves of instability and volatility that are washing ashore across Asia are reminiscent of the Asia Crisis of 1997-1998. Because of a combination of flexible exchange rates, strong international reserves, better monetary regimes, and a shift away from foreign-currency debt, the shock is better able to be absorbed. However, years of political paralysis and postponed structural reforms have created vulnerabilities.

Interest rate risk has now come to the forefront. Axel Merk believes bond market volatility will persist. The free ride for emerging economies is over, and those with negative current accounts will feel the pain the most.

CURRENCY: EMERGING MARKETS

The "Faulty Five" of India, Indonesia, Brazil, South Africa and Turkey are experiencing the worst impacts. Three of these are part of the touted investor haven of the BRICS. Capital controls loom but as was begrudgingly acknowledged at the recent Jackson Hole Monetary conference:

The choice is this: Impose capital controls OR let the Fed run your economy.

 

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ROUND TABLE:

Regular Co-Host: Ty Andros , President, Traderview, Author & Publisher ofTedbits Web Site & Newsletter

Special Guest: Axel Merk , is the President and Chief Investment Officer of Merk Investments, manager of the Merk Funds. He is a recognized expert on the global economy, monetary policy and international investing.  An authority on currencies, he is a pioneer in the use of strategic currency investing to seek diversification and has been named a “Currency Guru” by Morningstar.  Axel Merk is a regular guest on CNBC, FoxBusiness and Bloomberg.  His columns and interviews frequently appear in the Financial Times, Wall Street Journal, Barron’s and other financial media around the world.  Merk is a sought after expert speaker at industry conferences, including the annual conferences of the CFA, FPA and AAII, as well as at universities, government organizations and think tanks.  Merk's expertise encompasses topics ranging from the global economy, gold and currencies to sustainable wealth and personal finance. Axel Merk’s Book “Sustainable Wealth” was published by Wiley in 2009 and his newsletter Merk Insights reaches a wide audience of investors, analysts and media following global macroeconomic issues and implications to investing.

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GLOBAL CURRENCIES

PART I

US$, FIAT RESERVE CURRENCIES & GOLD

with Special Guest AXEL MERK

PRESIDENT & CIO MERK INVESTMENTS,

MANAGER OF MERK FUNDS

& Gordon T Long & Ty Andros

34 Minutes, 46 Slides

In Part I of this 70 minute two part series, Axel Merk in discussions with Ty Andros and Gordon T Long covers a broad range of the most important Global Currency issues relevant to investors. Named a Currency Guru by Morningstar, there is no one more qualified to assist investors understand this complex environment. Though markets may appear unpredictable, Merk Funds' research has found that politicians are not. Currencies markets most closely reflect the Macro realities without taking on associated equity and interest rate risks. Currencies are the cornerstone of successful investment strategies in the global financial markets.

CURRENCY: US DOLLAR

As serious as the issues are with the US Dollar losing its function as a "store of value", it is best viewed as the "least ugly" within the world's beauty contest of fiat currencies. As such it is likely to be the last to fall as global fiat currencies feel the pressures of having over-inflated their currencies while allowing negative Primary Current Accounts. The US$ is presently the safehaven for investors singularly because of its liquidity, rule of law and a dominant sovereign military.

CURRENCY: FIAT RESERVE CURRENCY

As global currencies have been moving more and more away from the Gold Standard over the last 100 years,  investors must continuously re-evaluate the "risk-free" element of their portfolio. This is now urgently dictated, since with negative real interest rates most currencies are no longer a safe 'store of value".  It is a simple reality or "new normal" that Investors cannot trust the government to protect their purchasing power for them and must adopt personal strategies that match their own risk tolerance. The days of 'mom and pop' investing are over as macro and monetary decisions control the investment landscape.

CURRENCY: GOLD

Aggressive accumulation of gold by Emerging Market Central Banks and the Bank of International Settlements (BIS), suggests that the historic shift to fiat currencies is 'running out of runway'. In an increasingly unstable world, changes are overdue. Axel argues that the solution will unfortunately not be another Bretton Woods Monetary agreement, but rather is likely to first lead to chaos and social disorder before any possible consensus can be reached.

Gold will continue to be volatile, especially when priced in US dollars and with parallel distortions by the bullion banks in disconnecting the physical price of gold from gold's 'paper' price.

CURRENCY: EURO

Though the Euro is the only major currency not backed by a tax base nor an army, it is in fact the most difficult currency to debase. Poorly understood is how the ECB has been successful in holding up the Euro by 'mopping up' liquidity, despite an expanding and seemingly intractable crisis in the peripheral nations throughout a relentless six quarter recession.

Axel Merk lays out what the surprising hidden strategy is for the survival of the Euro, both from a sovereign and banking perspective.

 

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