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You are here 1. Global debt now 280% of GDP. Bond yields at all time lows. 2. Federal Reserve balance sheet in vertical print mode. Now at $7 trillion.   3. ECB balance sheet in vertical print mode. Now exceeds 50% of EU GDP.   4. Here’s the NASDAQ. FANGMAN stocks now worth more than

Wirecard Wirecard Bank was a hero of the banking community in Germany. They grew very rapidly by servicing payments for niche operators around the world. They were part of the elite German DAX30, among the largest companies in the country. The full story of their demise is yet to be told but it boils down

The Gold and Bitcoin Fund As regular readers know, we are rather keen on bitcoin here at ListedReserve. The thesis is simply that so few things have known supply and provable scarcity. Some investors though are more comfortable with gold because it has tens of thousands of years of history and is a proven inflation

It’s a Scam Rarely these days do we encounter the feedback “bitcoin is a scam”. It does happen though including this week. The argument was along the lines of, it’s only valuable as long as people say it is, otherwise it isn’t.  A bit like gold then. Nobody ever decreed gold as money, people just

WHERE TO INVEST? This used to be a reasonably easy question to answer for a financial adviser. Perhaps a mix of equity and bonds, perhaps some small leverage depending on your age. We’ll change the mix as you get older. Thanks, that will be $5,000 a year, oh and here’s some life insurance you didn’t

Goldman Sachs Remember when Goldman Sachs were the ‘Masters of the Universe’? Their cult carried so far that the Twitter account @goldmansachselevator had over a million followers. It purported to post overheard conversations in the elevators of the investment bank. It was all part of the mystique. It was great and it was funny: Most

How money dies Its tough being a global reserve currency. History tells us surviving more than 100 years is very hard. The Spanish hold the record with 110 years. That particular arrangement fell apart because of the collapse of the Iberian Union between Spain and Portugal. Portugal got tired of being told what to do

Buffets The talk is that self serving buffets are now a thing of the past, simply they don’t work in this new world order. I was prompted to find out why, here’s a possible explanation. Not only that, Buffett has managed to underperform the S&P 500 for the quite some time. Still, this is not

Storage costs matter The oil price went below zero on Wednesday at the closure of the May oil contract. There are may reasons why. The most relevant perhaps, is that storing oil is not free. If you buy oil with a futures contract it will be delivered to you unless you roll the futures contract