B
35.3K posts
@123MathMan
The heart has its reasons that reason knows nothing about.... Let us love not in words or speech but with actions and in truth. (Not on Twitter to be followed.)
I've noted regularly over time how Chinese banks are wildly short of capital, have been for years, and this is something China knows and has acknowledged. So Reuters is incorrect attributing this to a temporary issue
‼️ Turkey…a nation that is over 98% Muslim…has been forced to sell gold after years of economic mismanagement. The TRY has sharply depreciated against the USD, and they continue to run large, persistent current-account deficits while relying heavily on borrowing in USD/EUR. ‼️
Bullish
The financial architecture of the post WW2 world rested on three assumptions: - US is a benevolent hegemon with an embedded interest in maintaining global trading order - US controls the world’s sea lanes - US treasuries could always be transformed into commodities at a moment’s notice These assumptions are melting away faster than morals at a bachelor party. So how do we now position portfolios? I wrote the following last weekend and a number of clients asked me to unlock it, so here is the paper research.gavekal.com/article/shatte…
Exclusive: SMIC, China's largest chipmaker, has sent chipmaking tools to Iran's military, two senior Trump administration officials said, raising questions about Beijing's stance in the month-old US-Israeli conflict with Iran reut.rs/4uKTGPs
By publishing this explicitly false story, the @FT has officially become tabloid trash for market participants. Despite my direct, on-the-record denial of ever having advocated, explored, or espoused the idea that Chancellor-Bank of England statute serving as a prototype for a Treasury-Federal Reserve relationship, FT journalists manufactured a story with the headline, “Scott Bessent praised Bank of England as model for tighter oversight of the Federal Reserve.” These pathetic journalists have clearly fabricated a story to give the impression that both I and the Trump Administration are setting “about restructuring the relationship… at a time when President Donald Trump has launched an unprecedented assault on the world’s most important central bank.” Their mendacious assertion is based on vague statements from unnamed “financial industry executives familiar with the matter.” In short, FT has literally manufactured an entirely fake policy position for me and the Administration. Other than furthering a maliciously false narrative of dysfunction and divisiveness, it baffles the mind as to why they would shred their already diminished journalistic credibility. Over the past 10 years, I have written more than 20,000 words opining on the Federal Reserve decisions, personnel, structure, and modifications. Nowhere have I ever mentioned this ridiculous notion. The Governor’s letters to the Chancellor have proven to be a useless and perfunctory device. There is much to be said about the storied Bank of England, but any recreation of its operating framework on this side of the Atlantic has never been contemplated. The shameful journalists and editors at the FT are shocking in their meretriciousness, lack of standards, and general intellectual libertinism. It is the worst tradition of Fleet Street to manufacture news rather than report on it. They have brought irredeemable shame to their parent organization, Nikkei Inc., with whom I had previously held excellent relations. In 2025, I laid out a comprehensive 6,000+ word review of each and every policy reform that I believe should be adopted by the Federal Reserve. Read my actual, real thoughts on and proposals for Federal Reserve reform at the International Economy: international-economy.com/TIE_Sp25_Besse…
Rogan repeats the false claim that Obama deported more than Trump Obama cooked the books on deportations. In fact, the LA times did an entire report in 2014 saying illegals had a better chance of staying under Obama than any past president
Pakistan has gone even beyond its limits. This is a clear betrayal by Pakistan: it transports oil through the Strait of Hormuz under Pakistan’s name and then sells it to our enemies. We trusted Pakistan because it is a Muslim country, but they betrayed us.
Noelia Castillo Ramos has been killed by the State in Spain. The same State that took her from her parents. The same State that housed her with migrants. The same State that allowed her to be gang-raped. The very same State that placed her in danger and failed to protect her, has now ended her young, traumatic life. Today is a very dark day for Spain. Rest in peace, sweet Noelia.
