The Dollar Leads the Way, Until When?

Published by Philippe Herlin | Sep 29, 2022
Views 4904

The dollar's good shape is in stark contrast to other major currencies, but paper currencies are all plagued by the insidious evil of inflation. The dollar is doing well at the moment, but as the saying goes, "In the kingdom of the blind, the one-eyed man is king".

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Euro-Inflation Downward Spiral Sets In

Published by Philippe Herlin | Aug 18, 2022
Views 14684

Government officials speak of a "peak" in inflation... But inflation is here to stay, because its causes are still present: the money printing of central banks to finance budget deficits, the energy transition which increases the price of electricity, the ill-considered sanctions taken against Russi...

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France Issues Toxic Loans to Embellish its Debt

Published by Philippe Herlin | Aug 4, 2022
Views 14395

Without these OATi and OAT€i, the French debt rate would be at or above that of Italy. But the explosion of the cost of this indexed debt will make this subterfuge less and less tenable... Inflation-indexed bonds may not hide the misery much longer. France's debt will soon be watched with concern by...

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Fall of the Euro: And if This Were Only the Beginning?

Published by Philippe Herlin | Jul 21, 2022
Views 11462

On July 12, the euro reached parity with the dollar, something that has not happened since 2003. The euro has lost 12% against the dollar since January 1, which is a lot in the massive and liquid foreign exchange market. What if this fall continues? The question must be asked. The fall of the euro i...

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Recession Looming in Europe

Published by Philippe Herlin | May 12, 2022
Views 21273

Christine Lagarde's denial, its refusal to raise the key rate, and its apathy towards inflation, will prolong the weakening of the euro against the dollar, thus creating an additional cause of inflation (raw materials being paid in dollars, the fall of the euro mechanically increases their price). B...

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Towards The Collapse Of Purchasing Power

Published by Philippe Herlin | Apr 28, 2022
Views 31937

This important loss of purchasing power, imperfectly compensated by government subsidies, will lead us into a recession. The savers who put their trust in physical gold will preserve their savings, but this is only individual behavior; the governments that benefit from the money printing press will...

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After Inflation, Here Come The Shortages

Published by Philippe Herlin | Mar 30, 2022
Views 23764

We can already hear the leaders of Western countries blaming Putin for the rise in prices... It's very convenient, but it's not true: it's their money printing, to finance their deficits, which has long been feeding the current inflation. The war in Ukraine only reinforces and accelerates this trend...

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Why Is Inflation Here To Stay

Published by Philippe Herlin | Jan 6, 2022
Views 13106

The leaders of the European Central Bank (ECB) and the U.S. Federal Reserve (Fed) have long promised us that their lax monetary policy would not lead to inflation, and that we should not worry, that it would be "transitory". They now concede that the transitional period could be prolonged, but conti...

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Onwards To Stagflation

Published by Philippe Herlin | Dec 9, 2021
Views 15604

The Danish bank, Saxo Bank, has become famous for publishing every year a series of ten "outrageous predictions" that are supposed to profoundly change our societies in the coming year. The exercise is difficult and these predictions rarely come true. But they have the merit of pointing out problems...

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