Multicurrency Mercantilism and the New International Economic Order -

Last month I wrote Bretton Woods II ended today.  It went viral globally. (Came back to us through contractors in India!) Since then we started our Multipolar Transition Timeline as a way for others to follow the shift from the unipolar world of dollar...

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Kathleen Tyson - December 14, 2022

Multipolar Transition Timeline

Today we launch our Multipolar Transition Timeline. This timeline is designed to track the major events leading to the 2022 pivot from a unipolar monetary order primarily using US dollar to a multipolar mercantile order where trade, finance, and...

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Kathleen Tyson - December 9, 2022

Bretton Woods II ended today

I've been waiting for today, knowing it was pre-planned and coming. Today in Riyadh at the China-Arab Summit President Xi of China formally invited the Arab nations to trade oil and gas in yuan on the Shanghai Exchange. Now the way diplomacy works...

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Kathleen Tyson - December 7, 2022

Treasuries remain illiquid and vulnerable to dysfunction

I am a plumber of global liquidity. I watch flows and worry about systemic risks. I started working on Pacemaker in July 2019, seeing the US Treasury market vulnerable to enduring dysfunction. Rising inflation limits the scope for effective central bank...

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Kathleen Tyson - November 1, 2022

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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