Commentary

Notes From Underground: Powell’s Pathetic Political Posturing

Aug 30, 2021

First of all, my offer of any part of a $10,000 bet with 10-1 odds against Jerome Powell being renominated as FED CHAIR is OFFICIALLY RESCINDED. The Fed Chair’s speech was so pathetic that it can only be explained by his desire to be renamed... more

Market Summary: August 29, 2021

Aug 30, 2021

In a stunning reversal, petroleum prices recovered all of last week's price plunge plus an additional 2 to 3%. Diminishing COVID-19 concerns and clear signs of recovering demand from the US, China and India, further aided by a weakening dollar,... more

Notes From Underground: For What It’s Worth

Aug 26, 2021

There is a wonderful song from the tumultuous 1960s by the band Buffalo Springfield that is so apropos for the financial markets over the last two weeks (staying away from Kabul). The lyrics for the first two verses describe the situation for... more

The One, Two, Three of Support and Resistance

Aug 23, 2021

I love creating sayings that drive home truths in technical analysis. One of my favorites has always been:

“First test good,

second okay,

third go the other way.”

So, what does it means? It means that the first test... more

Market Summary: August 22, 2021

Aug 23, 2021

Petroleum prices plunged more than 8% this week, their largest weekly loss in more than nine months. Prices have fallen for seven consecutive days and are at their lowest level since May 20th. The last time WTI fell for seven consecutive trading... more

Notes From Underground: Before I Break

Aug 16, 2021

On Sunday, we acknowledge the 50-year anniversary of Richard Nixon’s decision to close the GOLD EXCHANGE WINDOW and put an end to the post-World War monetary system known as Bretton Woods. I can say exactly where I was: A bus station in Afula,... more

Market Summary: August 15, 2021

Aug 16, 2021

Petroleum prices ended the week mixed as the monthly IEA report warned of slowing demand growth linked to the ongoing resurgence of COVID-19 delta variant cases which reached six-month highs in the US. OPEC in its monthly report left its demand... more

The Roundtable Insight – Russell Napier and Yra Harris on Financial Repression and the Age of Debt

Aug 13, 2021

Russell Napier and Yra Harris on Financial Repression and the Age of Debt.

Russell Napier is author of the Solid Ground Investment Report and co-founder of the investment research portal ERIC. He has written macroeconomic strategy... more

Notes From Underground: Bye Bye, Jerome Powell

Aug 09, 2021

Early last week Senator Elizabeth Warren made her case against Chair Jerome Powell. In a Financial Times article, the senator blasted Powell for his light regulatory touch while praising the efforts of Governor Lael Brainard. Yet many believe... more

Market Summary: August 8, 2021

Aug 09, 2021

The likely growing impact on demand from a serious resurgence of the delta variant of COVID-19 propelled petroleum prices to their largest weekly drop since the week of October 2nd , 2019. Reinstituted restrictions particularly in China, the... more