Brexit, ECB Meeting, France, and Canada vs. China – There’s a lot going on to wrap up 2018

December 11, 2018

Marc Chandler, Founder of and Managing Partner Bannockburn Global ForEx joins me to recap the major events that have international investors nervous. Europe is a situation but now its Brexit and France leading the worries. We have the ECB meeting on Thursday which should make form some interesting talking points. Also to tack on to the US/China trade disputes we have the arrest of the Huawei CFO in Vancouver now facing an extradition hearing. There’s a lot going on at year end.

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    Dec 11, 2018 11:24 PM
      Dec 11, 2018 11:01 PM

      Comey on the take……HSBC………should be in jail………all the Fed members should be in jail….

        Dec 11, 2018 11:03 PM

        Just give the US GOVT, and the People a DEBT JUBILEE………the FED IS FALSE and should be abolished …….real simple

          Dec 11, 2018 11:24 PM

          You have really not thought thru’ the consequences of a debt Jubilee.

          You wipe out debt….implies you wipe out bonds, notes, most savings and pension funds……result will be economic chaos.
          Besides, you know banks will not wipe out mortgages, for that would imply wiping out ownership law.

            Dec 11, 2018 11:56 PM

            Just a thought,….if, you have a mortgage , you do not own the property…., the lien holder owns the property.

            Dec 11, 2018 11:57 PM

            Miss a payment…….and you will see who owns what………. 🙂

          Dec 11, 2018 11:50 PM

          On the contrary……CFS……
          I posted an article several days ago concerning Debt Jubilee, …..

          Michael Hudson’s new book And Forgive Them Their Debts: Lending

            Dec 11, 2018 11:51 PM

            This corrective model actually existed and flourished in the economic functioning of Mesopotamian societies during the third and second millennia B.C. It can be termed Clean Slate amnesty

            Dec 11, 2018 11:53 PM

            Read the article CFS……..and then let’s talk about it……I would like to know your thinking and thoughts …………. thanks………..J

            Dec 12, 2018 12:02 AM

            I read through that when you first posted.
            Michael Hudson may be correct, historically.
            The point, however, is that things have changed in the last two thousand years.
            In every society in modern times when an economy has collapsed, when government debt has been destroyed, individual debt has not. Michael Hudson may be correct that that was not the case in biblical times, but the fact is GOVERNMENTS MAKE THE RULES, and they will not go back to biblical rules. Nowadays, under modern rules, a debt jubilee would be a disaster for individuals.

            Dec 12, 2018 12:40 AM

            That was an interesting article that made many good points.
            The debt argument is an ongoing struggle for the masses, that few have the foundation built to understand what is “real or actual debt”.
            Example: most people believe the national debt is 21 trillion, and in reality it’s 6.2 trillion. Luckely, we have a president that actually understands money, debt, history and civics.

            Dec 12, 2018 12:36 AM

            Thanks for reading…………

            Dec 12, 2018 12:02 AM

            Usury……and the trick , learned from the Greeks, which I find funny, because what goes around comes around..
            From the article….”.long with the alphabet coming from the Near East to the Greeks, so came the concept of calculating interest on loans. This concept of exponentially-increasing interest was adopted by the Greeks”

            Dec 12, 2018 12:14 AM

            that their creditors amassed huge land holdings and established themselves in parasitic oligarchies. This innate tendency to social polarization arising from debt unforgiveness is the original and incurable curse on our post-eighth-century-B.C. Western Civilization,

            Dec 12, 2018 12:16 AM

            Self serving govt employees…….MAKE THE RULES…….

            Dec 12, 2018 12:26 AM
            Dec 12, 2018 12:02 AM

            Bottom line…………looks like we are in a disaster created by the money changer, Central Banks….MODERN BANKING……… “)
            “Unfortunately, a worldwide depression is coming like we have never seen before because we have never before had so much debt sit on top of artificially depressed interest rates,” said Pento in an interview with USA Watchdog‘s Greg Hunter back in May.

            “The hubris and arrogance of central banks to take that away, they are way too late in doing so, and they think they can do this with impunity. They are dead wrong. They (central banks) have always caused recessions. We are heading into a global depression.”

            Dec 12, 2018 12:15 AM

            What we are seeing the beginning of is the decline of the western world economy, which means the whole world economy. . .

            Dec 12, 2018 12:16 AM

            should be Von….not van…….

            Dec 12, 2018 12:18 AM

            . . I count $2 quadrillion in money. If you add debt, unfunded liabilities and the risk of derivatives, you come up to $2 quadrillion of debt and liabilities. The global GDP is $70 trillion. . . . So, you are talking about 30 times global GDP.”

            Dec 12, 2018 12:35 AM

            It doesn’t matter if Trump understands debt or not, more debt is not going to make America great again. You can’t fix a debt problem with more debt — and those who think there’s no debt problem are living in fantasy land.
            This is like “hope and change” all over again but for the other half. Trump can do whatever he wants and 90% of his supporters will never have a problem with it.

            Dec 12, 2018 12:57 AM

            I don’t know an exact answer in detail.

            But what I DO know is that much of current debt MUST NOT, CAN NOT be respected. It has been accumulated under a fraudulent debt-based monetary regime as well as a corrupted political regime, and those who have accumulated the lion’s share of ownership are criminals.

            The US is really in the same ‘odious debt’ situation that many developing countries have found themselves in over the past 50-100 years.

            I believe there are economists who have thought about how to rebalance this mess. E.g. Steve Keen or William K Black maybe?

            Dec 12, 2018 12:22 AM

            GH… is not going to figure it out..the system was doomed from the start….
            Usury…..a tool made from hell…….. 🙂

            Dec 12, 2018 12:30 AM

            The rebalancing will happen in the most politically expedient way and at the expense of the average guy: a drastically lower U.S. dollar — at least in purchasing power if not versus other currencies.

            Dec 13, 2018 13:44 AM


            I think you’re right–the end of the American middle class in a Wiley Coyote moment.

            The pattern that has played out many times through history is that by time the masses understand just how screwed they are, the wealth is already long gone elsewhere.


    Dec 11, 2018 11:02 PM

    Stewart nails it:
    “Where are the populist government leaders who are cutting their outrageous government debts?
    The answer, unfortunately, is that they do not exist.
    Citizens riot in France over insane fuel taxes, central bankers resign in India, markets crash in America, and England’s citizens watch their Brexit turn into an overpriced wet noodle.
    None of this fazes the world’s populist leaders. They believe they alone can fix what debt broke… with more debt!”

    In case you haven’t noticed, Trump is among those leaders who have no aversion to debt.

    Dec 11, 2018 11:29 PM

    Matthew, You REALIZE, I hope, Trump’s apparent non-aversion to debt, in particular military spending, is because he is funding the “wall” via military spending, under National Emergency powers of the President.

    President Trump on Tuesday engaged in an extraordinary argument with Democratic congressional leaders over his demand for border-wall funding, threatening a government shutdown if he does not get the money.

    “I will be the one to shut it down,” he told House Minority Leader Nancy Pelosi (D-Calif.) and Senate Minority Leader Charles Schumer (D-N.Y.) at the White House.

    During the contentious meeting in the Oval Office, Pelosi (D-Calif.) repeatedly asked Trump not to discuss the funding request in front of the news media.

    “You will not win,” Pelosi told Trump.

    The meeting was scheduled to be closed to the press but the White House unexpectedly opened it to reporters just as Pelosi and Schumer were arriving at the White House.

    The exchanged heightened the sense of drama surrounding government-funding stalemate between Trump and Democrats.

      Dec 11, 2018 11:56 PM

      Big deal……..the conversation should be live, …to let the public know , what a bunch of morons we have running the nation…….TERM LIMITS…….
      If, they were doing their job…..we would not have a FED……What a joke,

        Dec 11, 2018 11:58 PM

        Trump should do a CROWD FUNDING, WITH A TAX EXEMPTION……

      Dec 11, 2018 11:22 PM

      I’ve seen no evidence that he has a problem with debt, period.

      I am all for his tax cuts regardless of the effect on taxes collected. However, the 17% jump in the budget deficit this year is going to result in the kind of tax increase that his biggest supporters are clueless about: inflation. There is no easier and quicker way to plunder the people’s savings than by deficit spending. Bush did it and gold soared. Then Obama increased it and gold soared even more.
      This is not a left/right issue. My point is that Trump is player, not a swamp-drainer.

        Dec 11, 2018 11:26 PM

        Trump , has utilized debt to his advantage……let, someone else pay for it…….

          Dec 11, 2018 11:27 PM

          Real estate……..OPM……..other people’s money………

            Dec 11, 2018 11:35 PM

            Problem,……debt has to be supposedly repaid, ….or you are a bad person(ha, ha)

          Dec 11, 2018 11:55 PM

          There’s a huge difference between individuals playing with debt and politicians doing so on the behalf of people who did not give them permission to. A nation that becomes indebted has done a massive disservice to the vast majority of its people – whether they understand it or not.

            Dec 11, 2018 11:29 PM

            I would agree……….

            Dec 11, 2018 11:36 PM

            The debt, is so large , it will never be repaid….in the lifetime of the debt slave citizen…….It is impossible…’
            the lender to the govt, is a fraud……you already know that

            Dec 12, 2018 12:21 AM

            from usawatchdog….Von G…. . I count $2 quadrillion in money. If you add debt, unfunded liabilities and the risk of derivatives, you come up to $2 quadrillion of debt and liabilities. The global GDP is $70 trillion. . . . So, you are talking about 30 times global GDP.”

    Dec 11, 2018 11:34 PM

    As regards “cutting” taces, because of our position on the Laffer Curve, tax collection receipts ACTUALLY have increased under Trump.

    Would you prefer a tax RATE increase…..producing an actual DECREASE in tax collected?

    Dec 11, 2018 11:35 PM

    oops, “taxes” not “taces” above.

    Dec 11, 2018 11:51 PM

    1. A sitting president CANNOT be indicted[ in U.S. Courts. Impeachment has to occur first to remove the President.]
    That’s official DOJ policy since 1973.
    Neither the Special Counsel nor the SDNY nor Deputy Attorney General Rod Rosenstein can defy that 45-year-old policy.
    2. SDNY is NOT expert in campaign finance violations and neither is the Clinton appointed district judge. They rarely handle campaign finance cases. The left-wing media and politicians are regurgitating what the prosecutors have merely filed in their own self-serving brief. The media and others intentionally refuse to look at the actual rules and context. They refuse to even question what these prosecutors have thrown together.
    3. The actual campaign rules and context do NOT include Non-Disclosure Agreements (NDAs) or infinite other contracts, payments, arrangements, acts of a private nature, etc. as campaign contributions. This is normal human behavior and was never intended to be regulated or reported. SDNY is dead wrong. And these private payments can be made in any manner or any amount. Again, they’re private payments involving private matters. To underscore, there’s no reporting requirement because they’re not campaign payments made with or without campaign funds.
    4. SDNY inclusion of these charges in the Cohen plea deal was a sleazy political and PR attack against the president by an office coordinating with Mueller and aligned with Comey. SDNY knew Cohen would plead. It therefore knew its absurd allegations would not be tested in any courtroom — district, circuit or Supreme Court. If they were tested, SDNY would be hammered like a nail. But it knew the left-wing media and politicians would use the mere over-the-top allegations from its office, with absolutely nothing more, to claim the president committed campaign felonies. No due process. No assumption of innocence. They knew they couldn’t charge a sitting president. Thus, they convict the president in the press, not only an extreme act of professional misconduct but a violation of the very purpose of the DOJ memos banning the indictment of a sitting president while effectively indicting him in the court of public opinion, and watch as untold numbers of media personalities and former members of the SDNY, among others, use this dirty work to predict or demand the president’s indictment and/or impeachment.
    5. As for impeachment, NDAs involving wholly private matters occurring before the president was even a candidate and completely unrelated to his office cannot legitimately trigger the constitution’s impeachment clause. Indeed, they could not be more irrelevant. The history of the clause and its “high crimes and misdemeanors” language make it crystal clear that the office and the president’s duties are not affected in any conceivable way by these earlier private contracts. Of course, Jerrold Nadler, another NYC radical, could not care less. He’s more than thrilled to be an executioner in this French Revolution redux. The Constitution be damned. Meanwhile, he and the others wave around the Constitution as if they’re defending it against a tyrant.
    It is they who are the tyrants.

      Dec 11, 2018 11:11 PM

      Jerrold Nadler, another NYC radical,, and a Demo…….ditto on that one………

      Dec 11, 2018 11:07 PM

      If he had something on Trump, we would have been watching impeachment hearings by now.

        Dec 11, 2018 11:08 PM

        but first let’s give away the ending (spoiler alert!): there is still no real evidence of, well, much of anything significant about Russiagate.

          Dec 11, 2018 11:22 PM

          Call it sleazy if you want, but looking into a real estate deal is neither a high crime nor a misdemeanor, even if it’s in Russia. Conspiracy law requires an agreement to commit a crime, not just the media declaiming th

    Dec 11, 2018 11:10 PM

    Transparent Trump exposes the shuffling Schmoozers (Schummers) for what they are

    Dec 11, 2018 11:41 PM
    Dec 11, 2018 11:58 PM
    Dec 11, 2018 11:30 PM
    Dec 11, 2018 11:02 PM
    Dec 12, 2018 12:05 AM

    The thing that was truly unbelievable about the meeting between the anti-Americans Schumer, Pelosi and President Trump is that they were arguing over $5 billion.
    Yet when the traitor Obama gave $150 Billion to Iran, Schumer and Pelosi did not complain at all.
    $150 Billion to Iran produced nothing for America and gave Hamas more rockets to fire at Israel.
    $5 billion spent on a wall might reduce illegal immigration substantially; stop many terrorists and even save money on welfare and and healthcare on illegals which would save $ 5 Billion within just a few years.

    Do some math…..
    Half a million imigrants times 65% on welfare times $1,500 per month times 12 months per year + healthcare costs…..

      Dec 12, 2018 12:08 AM

      CFS –

      True or false — the 150 billion was frozen Iranian assets.

      If true, then you are engaging in deception, regardless of whether one agrees those assets should have been un-frozen or not.

    Dec 12, 2018 12:24 AM

    From Washington Post:
    …..From October to December 2017, HHS called 7,635 children the agency had placed with sponsors, and found 6,075 of the children were still living with their sponsors, 28 had run away, five had been deported and 52 were living with someone else. The rest were missing, said Steven Wagner, acting assistant secretary at HHS…..

    This was for unaccompanied illegal children, but think about it for a moment.

    The majority of illegals entering the US are illiterate IN THEIR OWN LANGUAGE.

    Just what good does giving them a card which reads turn up at such and such an Immigration Court on such and such a date?

    Proof positive that Democrat Leadership is corrupt or stupid.

      Dec 12, 2018 12:28 AM

      Good one…………

        Dec 12, 2018 12:29 AM

        Really stupid…….and really corrupt……..