Have foreign exchange reserves peaked? -

Have we passed the peak in accumulation of official foreign exchange reserves? This has very important implications for the G7 debtor nations (US, UK, Germany, France, Japan, Italy, Canada) whose debt was long preferred. 

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Kathleen Tyson - October 26, 2022

Alienating Our Chinese Creditor

In almost his first act of foreign policy through the revolving door of 10 Downing Street, Prime Minister Rishi Sunak spoke with President Joe Biden and agreed 'to counter China's malign influence' as Downing Street phrased it. Maybe Rishi has forgotten...

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Kathleen Tyson - October 20, 2022

It's always margin calls that bring markets to crisis

This week marks an anniversary for my career in financial stability and comparative market structure. 35 years ago the Dow Jones Stock Index plunged 22.6% in a single day, a crash that echoed around the world as the first global systemic financial...

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Kathleen Tyson - October 12, 2022

Gilts and Gold (Venezuelan Gold)

Twitter and newspaper headlines shift responsibility from the Bank of England to the Truss government almost hourly in the raging gilts and currency crisis. I suggest the gilts crisis started when the UK followed the US in confiscation of Central Bank of...

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Kathleen Tyson - September 28, 2022

Do Central Banks understand inflation?

Professors Charles Goodhart (a Pacemaker Advisor) and Manoj Pradhan are warning again that inflation is likely misunderstood, characterising three very different views of inflation now current, only one of which can be correct: Inflation: What Went...

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Kathleen Tyson - April 28, 2022

3D DataViz of the UST Yield Curve (and it's beautiful)

We're building Pacemaker.Global with great data vizualisations that are relevant to policy makers because better data comprehension should lead to better policy formation, especially in a time of spiralling change and challenges. A beautiful data...

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Kathleen Tyson - April 6, 2022

Look for the helpers

With all the grim inflation and geopolitical news, I was minded today to look for the helpers. Even on the national level there are notable helpers - and good neighbours. India has provided a USD 2.5 billion line of credit to stabilise crisis-torn...

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Kathleen Tyson - March 30, 2022

Goodhart: "Stagflation is the most likely outcome in the coming years."

Professor Charles Goodhart, a Pacemaker Advisor, started warning about resurgent inflation four years ago when he was writing The Great Demographic Reversal with Manoj Pradhan. This week he is warning that stagflation...

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Kathleen Tyson - March 24, 2022

Angell Paradox IV: Transitioning to Bretton Woods III

On 7 March 2022, after Western governments froze the official reserves of the Central Bank of the Russian Federation, Zoltan Poszar of Credit Suisse wrote that Bretton Woods III is now emerging. The new monetary order will be backed by Eastern...

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Kathleen Tyson - March 22, 2022

Both Russia and the USA offer 'a new world order'

President Biden concluded a speech to businessmen on Monday with the following statement: And now is a time when things are shifting. We’re going to — there’s going to be a new world order out there, and we’ve got to lead it. And we’ve got to...

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