‘The pound is IRRELEVANT’ German financial giant Deutsche Bank in shocking Sterling swipe

Deutsche Bank

Deutsche Bank branded the pound ‘irrelevant’ [GETTY•ALAMY]

 

Britain’s currency is permanently tarred after the UK voted to leave the European Union (EU), according to one of the bank’s foreign exchange strategists.

As a result, the pound is set to lose its prized status as a leading international safe haven currency, said Robin Winklertold. Continue reading

ALBERT EDWARDS: Chinese devaluation is leading to ‘a financial market rout every bit as large as 2008’

Many experts continue saying the second half of September 2015 and the first half of October 2015 is the beginning of a major and imminent turning point for the world economy — and much graver than what was seen in 2008 or the Great Depression. For example, former Reagan advisor Martin Armstrong and his forecasting model that has never gone wrong are predicting a hit in the first week of October 2015, or 2015.75.

See also: The Shift in Public Confidence: 2015.75

Batten down the hatches.

 

Societe Generale Economist Albert Edwards might have finally out-beared himself. He says the China devaluation is a step towards “a financial market rout every bit as large as 2008.”

In his latest note, Edwards says the Chinese currency devaluation is the beginning of a period of serious foreign exchange weaknesses in Asia. Continue reading

The Currency Wars’ “Pearl Harbor”

Switzerland had just abandoned its peg of the Swiss Franc to the Euro. The result was mayhem with an immediate 30% drop in the value of the Euro against the Franc, and billions of dollars of trading losses by banks and investors around the world.Several foreign exchange brokers went bankrupt because their customers could not settle their losing trades. The Swiss operated in total secrecy.

Currency wars resemble real wars in the sense that they do not involve continuous fighting all the time. At certain times, there are intense battles, followed by lulls, followed by more intense battles. Continue reading

The world should be wary: Japan’s economic woes are contagious

Fear is that Tokyo will export its deflation to the rest of the world, setting of a chain reaction of competitive depreciations

Japan’s surprise descent into recession is going to have big repercussions. It means the abandonment of a planned increase in sales tax. It will lead to the country’s prime minister, Shinzo Abe, calling a snap election. It will herald the end of Abenomics if he loses, and it will lead to a further weakening of the yen on the foreign exchanges.

Continue reading