Now Germany knows how we feel.
"The big lesson of the US financial crisis is that you have to act quickly and with force." And why not? His "markets want to see action" approach parallels the same skewed thought process that ...… More…
About Currency Currents
With Currency Currents, you can stay tuned-in to our current global-macro view and our analysis of key investment themes driving currency prices.
We consistently focus on the key asset classes responsible for the flow of global capital -- including equities, fixed income, commodities and, of course, currencies.
Nothing is off limits to us in this free-wheeling look at the markets. Some days you’ll receive ramblings on trading psychology, while other days we may take an academic approach in explaining esoteric economic issues. Ultimately we have one goal in mind: to help you get a handle on the key investment themes driving global capital flow. Because if you know where the money is going, it increases the probability that your position in the market will be a profitable one.
Who is Jack the Pipper?
Jack Crooks is Black Swan Capital LLC, President and Chief Trading Officer.
Jack is founder and president of Black Swan Capital LLC. He has also operated a discretionary money management firm specializing in global stock, bond, and currency asset management for retail clients. In addition, he was general partner in a firm specializing in currency futures and commodities trading. Neither firm is now in operation.
Prior to entering the investment arena, Jack worked in various corporate finance positions. He has written extensively on the subject of global currencies and international economics.
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Monthly Archive
Hodgepodge Friday
If you were worried about the euro, you can stop now. We saw a story on Bloomberg that quoted Paris-based money manager Emeric Challier as saying, "The crisis is over."… More…
Jim, are you talking your BRIC book?
Where does one even begin with that type inanity, from a person who is far from inane? Yo Jim! Germany, that little country holding it all together over there; well, they send about 50% of their exports to the eurozone each year.… More…
Have we stopped listening to Geithner yet?
The US Treasury Secretary has been in China, tip-toeing around yuan exchange rate reform, Chinese industrial protectionism-type behavior, etc. It was obvious Geithner was not there to point fingers - he's probably been given a strict script to which he must stick ... after seemingly losing his cool on Capitol Hill months ago.… More…
Finally we are getting some real company on our dollar call
Many are afraid the dollar is overbought and the run is done. No doubt, we will see ebbs and flows. But long-term, we haven't seen capitulation yet to this dollar move.… More…
A lot to worry about
The stock market of late seems to be noticing them. But commentators seem to be looking right past them--systemic risks. Why do I say that? Well, it seems every time I flip on the TV to a financial show, one mutual fund manager after another is trotted out to tell me this is a great buying opportunity.… More…
"Forget Latvia," I'm told.
After my Tuesday note on Latvia, I received two very informative emails pointing out my errors, omissions, etc. ... as well as some additional noteworthy tidbits about the Baltics. I'll get to those reader responses in a second.… More…
Dear Mrs. Merkel we'd like to say, "It is calculable!"
Man, if she keeps this up, Mr. Sarkozy is in danger of losing his top spot as the Eurozone leader most prone to bouts of hyperbole.… More…
Remember Latvia?
Latvia: they were a big deal about a year ago, and maybe even before that, when the lending practices among Eurozone banks, EU countries and CEE countries posed a huge risk to growth across the region.… More…
China: That dog won't hunt!
I have two dogs; a very big Rottweiler (for protection from Chi-Coms when I pen pieces like this) and a mutt. Usually they sit here in the office each day, just hanging out watching the market with me. They always seem to agree with my assessments--another reason I love them so.… More…
Japan Snaps? China Crackles? Canada Pops?
Japan is trying to make credit easy but it likely won't have the intended effect. What's new? But what about credit in the rest of the world? Can we garner any investment clues? United States - Recovering after the worst decline in the last thirty years?… More…
Two points and one chart may suggest a comdol bloodbath--that's all!
And to give you an insight into how my scary mind thinks about this stuff, I have created the following chart in an attempt to link these events in some convoluted way to suggest that just maybe a comdol (that's fancy FX-trader talk for commodity dollars) bloodbath is in the making. … More…
Monetary Change We Can Believe In?
Now that global central banks are off the one-size-fits-all monetary policy, it's starting to get exciting.… More…
Quantitative Easing Gargantuan!
Party time! Excellent! Impressive! European leaders do know how to spike a punchbowl; that's for sure.… More…
A short story about denying Mr. Market
Unfortunately the German parliament voted to approve 22.4 billion euro loans for Greece today. The euro bounced on the news. I was hoping of course for lawmakers there to finally drive a stake through the heart of that silly artificial government bungled construct known as the single currency and do us all a favor.… More…
The surprise is on the downside ... this time.
A heck of a week for the buck so far, right? Granted we still got a lot of time left before it sticks, but the weekly bar on a chart of the US Dollar Index looks rather impressive… More…
If you utter the "C-word" then the words "emerging markets" must come next
Ah...is Mr. Market finally waking to the systemic global macro threat that was always lingering in the background of Eurozone debt default? "Yes indeed," he said. There is much talk of the dreaded "C-word" in the financial press this morning--CONTAGION! Keep in mind, if you utter the word contagion the words emerging markets (EM) must come next.… More…
Keep selling the news?
In a game of relative value, there's been good reason to put your money on the Australian dollar. The simple carry-trade theme makes Australia an obvious choice during a time when general financial market risk is surprisingly absent.… More…
"Good" news bad price action: Par or bust clearly in play
Our Demagogue of the Year Award goes to Mr. Warren Buffet … More…
