by Gerhard Massenbauer | Nov 17, 2025 | Analysis, Markets, Multi-currency
However, the Imbalances are Growing Immeasurably When I read newspaper reports, I am amazed at how some crude ideas take root. For example, we constantly read that the price of gold, which has doubled in the last two years, is clearly a bubble. Gold has increased in...
by Gerhard Massenbauer | Nov 11, 2025 | Analysis, Markets, Multi-currency
Given the performance of the stock markets since April 2020, it is not surprising that profit-taking is now occurring after another successful year in 2025. Given the high level of liquidity, the introduction of new debt programmes to finance new infrastructure and...
by Gerhard Massenbauer | Nov 6, 2025 | Analysis, Markets, Multi-currency
Over the past few months, I have repeatedly emphasised that the rise in the USD over the last 15 years was caused by unsecured stock investments. Contrary to the frequent suggestion that foreigners have been withdrawing money from the US in recent months — a claim...
by Gerhard Massenbauer | Nov 3, 2025 | Analysis, Markets, Multi-currency
EM-Währungen reagieren in aller Regel auf zwei Reize besonders positiv: Sinkende Zinsen im Rest der Welt bei hohen Realzinsen in EM Zeiten einer Rohstoffhausse Die gute Nachricht für alle – Die Zinsen sinken baw. Wenn ich von sinkenden Zinsen spreche, meine ich die...
by Gerhard Massenbauer | Oct 29, 2025 | Analysis, Markets, Multi-currency
There Was Still Little Movement at the Beginning of Autumn Compared to the previous month, there has been little to no change. The pound has continued its downward trend, while the Swiss franc has strengthened somewhat in recent days. Overall, the situation on the...
