Inflation has Become a Geopolitical Issue

Published by Philippe Herlin | Aug 17, 2023 | 15490

From being a purely economic variable, inflation will also become a geopolitical issue through the Russia/NATO war, de-dollarization and an increasingly multipolar world. It's vital to be aware of this and to act globally, otherwise things are going to end very badly, especially for Europeans.

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SVB, Eurovita: The Global Bond Crisis Begins

Published by Philippe Herlin | Mar 16, 2023 | 22838

The bankruptcies of Eurovita and SVB, while waiting for the next ones, are linked to a bond crisis. It is not a question of fraud (FTX, Madoff), toxic assets (subprimes), or adventurous management (LTCM in 1998). No, the problem is the huge bundle of sovereign bonds that form the basis of the bal...

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The Dollar Leads the Way, Until When?

Published by Philippe Herlin | Sep 29, 2022 | 13739

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 | 21720

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 Ru...

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France Issues Toxic Loans to Embellish its Debt

Published by Philippe Herlin | Aug 4, 2022 | 24252

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...

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Recession Looming in Europe

Published by Philippe Herlin | May 12, 2022 | 26864

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)...

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Towards The Collapse Of Purchasing Power

Published by Philippe Herlin | Apr 28, 2022 | 38088

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 wi...

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