The Coming Food Catastrophe
Send us a textThe widely accepted idea of a cost-of-living crisis does not begin to capture the gravity of what may lie ahead according to António Guterres, the UN secretary general. He warned earlier this week that the coming months threaten “the spectre of a global food shortage” that could last for years. The high cost of staple foods has already raised the number of people who cannot be sure of getting enough to eat by 440m, to 1.6bn. Nearly 250m are on the brink of famine.Patrick's...
20 Maj 202215min
Stablecoins Are Unstable!
Send us a textThe $1.3tn cryptocurrency industry was on Thursday hit by one of its toughest challenges when stablecoin Tether — a critical cog in the market — failed to maintain its link with the US dollar. The company refuses to provide details on the Treasury holdings that back the stablecoin claiming their fear of revealing the ‘secret sauce.’Tether tumbled as low as 95.11 cents yesterday, far below the $1 peg that it seeks to maintain. Its price later recovered, but the slip-up, days afte...
13 Maj 202222min
The Economic Effects of China's Zero Covid Policy
Send us a textXi Jinping has reaffirmed his commitment to China’s controversial zero-Covid strategy, warning against “any slackening” in the effort and vowing to crack down on criticism of the policy despite signs of damage to the economy.“Our prevention and control policies can withstand the test of history; our measures are scientific and effective. We have won the battle to defend Wuhan, we can also win the battle to defend Shanghai,” the statement said.Patrick's Books:Statistics For The T...
7 Maj 202219min
Bill Hwang arrested on fraud charges!
Send us a textBill Hwang, founder of Archegos Capital Management, has been arrested by US authorities and charged with racketeering, fraud and market manipulation.The indictment accuses Hwang and former chief financial officer Patrick Halligan, of using Archegos as an “instrument of market manipulation and fraud” with “far-reaching consequences for other participants in the United States securities markets”.The case marks the first criminal charges against Hwang, one of the so-called Tiger Cu...
30 Apr 202218min
Elon Musk- Corporate Raider - Will He Actually Buy Twitter?
Send us a textElon Musk - The world’s richest man has allegedly hired the investment bank Morgan Stanley and is trying to gather financing, so he can buy Twitter for $43 billion.According to The New York Times, Musk is evaluating various packages of debt and a loan against his shares of Tesla. Apollo Global Management, an alternative asset manager, is among the parties considering offering debt financing. The equity he needs is likely to be sizable.Last week, Elon Musk, made an unsolicited of...
22 Apr 202229min
The Weaponization Of The Dollar
Send us a textThe sanctions on Russia’s central bank use the reserve currency status of the US dollar to punish an American adversary. Will the US dollar lose its exorbitant privilege? What currency might replace the US Dollar as a reserve currency?Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Patreon Page: https://www.patreon.com/Patric...
11 Apr 202221min
Russian Oil Priced In Roubles
Send us a textVladimir Putin has demanded payment in roubles for Russian gas sold to “unfriendly” countries, setting a deadline of 31 March for the transition.It is not clear whether he plans to tear up existing contracts that set the price in euros or dollars, but Germany, which relies on Russia for 40% of its gas supplies, is not taking any chances, warning large industrial gas users that a standoff is possible and rationing is one possible outcome.In todays video we ask why payment for Rus...
2 Apr 202212min
Planes Trapped In Russia!
Send us a textAs the clock runs down to Monday's sanctions deadline for Russian airlines to hand back more than 450 leased planes worth almost $10 billion, foreign lessors are fast losing hope that they will get their planes back. As the owners rushed to repossess the planes, the Kremlin moved quickly to block this by passing a law allowing foreign airplanes to be re-registered in Russia, effectively nationalizing them.Aviation was an early business casualty of Moscow's invasion of Ukraine, a...
26 Mars 202214min
