Foreign Currency
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What’s powering Bitcoin’s bull case?
Roger Montgomery
September 1, 2025
Bitcoin recently hit another new all-time high just above US$124,000, reflecting a bull story that has matured from a niche tech narrative into a macro thesis with institutional support. continue…
by Roger Montgomery Posted in Foreign Currency.
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America’s looming debt crisis
Roger Montgomery
August 25, 2025
Kenneth Rogoff, the American economist, chess Grandmaster, professor of international economics at Harvard University, former International Monetary Fund (IMF) chief economist and co-author of This Time is Different: Eight centuries of Financial Folly, has spent his career chronicling the anatomy of financial collapses. In his latest article for Foreign Affairs (Sep/Oct 2025), Rogoff issues a stark warning: the U.S. is flirting with a once-in-a-century debt crisis – and its current political and economic trajectory makes a crisis not just possible, but probable. continue…
by Roger Montgomery Posted in Foreign Currency, Global markets, Market commentary.
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Farewell fiscal 2025, hello fiscal 2026
David Buckland
July 1, 2025
The Magnificent Seven; Alphabet (NASDAQ:GOOG), Amazon (NASDAQ:AMZN), Apple (NASDAQ:AAPL), Meta (NASDAQ:META), Microsoft (NASDAQ:MSFT), Nvidia (NASDAQ:NVDA), and Tesla (NASDAQ:TSLA), which rose by an average 111 per cent over calendar 2023, continued its strong upward trajectory, increasing a further 63 per cent, on average, over calendar year 2024. continue…
by David Buckland Posted in Economics, Editor's Pick, Foreign Currency, Market commentary.
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China deflates – persistent price drops signal economic strain
Roger Montgomery
June 26, 2025
The latest data out of China reveals the country is sliding deeper into deflation. In May 2025, consumer prices fell 0.1 per cent year-on-year, the fourth consecutive monthly decline, while producer prices plunged 3.3 per cent – the steepest drop since mid-2023. continue…
by Roger Montgomery Posted in Foreign Currency, Market commentary.
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In gold they trust – China’s hedge against uncertainty
Roger Montgomery
June 24, 2025
An article published by the Shanghai Metal Market on 7 June 2025, revealed that the People’s Bank of China (PBOC) increased its gold reserves for the seventh consecutive month, up 60,000 ounces month-on-month. continue…
by Roger Montgomery Posted in Foreign Currency, Global markets, Market commentary.
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U.S. recession risks for the regions
Roger Montgomery
May 7, 2025
The global economy faces a complex landscape as trade tensions between the United States and China persist, threatening economic stability. This week, Ric Deverell, the highly regarded Chief Economist at Macquarie, shared insights on the potential for a U.S. recession, the resilience of China’s economy, and the ripple effects on global markets, including Australia and Europe. Our interpretation of his comments follows, and where data is independently available, we have provided that data along with sources. continue…
by Roger Montgomery Posted in Economics, Foreign Currency, Global markets, Market commentary.
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FAREWELL FISCAL 2024, HELLO FISCAL 2025
David Buckland
July 2, 2024
The Magnificent Seven (Alphabet (NASDAQ:GOOG), Amazon (NASDAQ:AMZN), Apple (NASDAQ:AAPL), Meta (NASDAQ:META), Microsoft (NASDAQ:MSFT), Nvidia (NASDAQ:NVDA), and Tesla (NASDAQ:TSLA), which rose by an average 111 per cent over calendar 2023, continued their strong upward trajectory, increasing a further 37 per cent, on average, over the six months to June 2024. This helped drag up the Nasdaq, which jumped 18.1 per cent and 28.5 per cent for the 6 and 12 months to June 2024, respectively. The S&P 500 also did very well, up 22.7 per cent for the year and up 14.5 per cent for the six months to June 2024. continue…
by David Buckland Posted in Economics, Editor's Pick, Foreign Currency.
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The relentless growth of U.S. government debt
David Buckland
March 25, 2024
I was very lucky to attend the Harvard Business School Owner/ Presidents Management program over the three years to 2006. In my class of 100 mature–age students, around half were from the U.S., and the remainder were from several other countries. I know it is a gross generalisation, but it would be fair to say the U.S. students excelled at any “marketing” related case studies but noticeably under-performed in any case studies related to “accounting”. continue…
by David Buckland Posted in Economics, Foreign Currency.
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Is a BRICS gold-backed currency and bad idea?
Roger Montgomery
August 24, 2023
The idea of a gold-backed currency proposed by the BRICS countries (Brazil, Russia, India, China, and South Africa) as an alternative to the U.S. Dollar has gained attention. However, there are numerous reasons why this concept is considered impractical and unwise. This article explores the challenges and drawbacks of adopting a gold-backed currency, highlighting historical evidence and expert opinions that point to its shortcomings. continue…
by Roger Montgomery Posted in Foreign Currency, Global markets.
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How much energy is Bitcoin mining really using?
Andreas Lundberg
December 9, 2021
If Bitcoin mining were a country, it would rank as the world’s 55th largest electricity consuming nation, just ahead of New Zealand. And that’s the best-case scenario. In reality it could rank even higher. continue…
by Andreas Lundberg Posted in Foreign Currency.
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