tl;dr
The techies make fools of themselves again. Bureaucrats want to make fools of us.
Market Snap
Market Wrap
A spike in the value of the yen suggests that the Fed, in cahoots with the Bank of Japan, is manipulating currency markets once again, perhaps by further extending the FIMA repo facility for long-dated US Treasuries held by Japan, a form of QE in disguise.
Curious Cryptos’ Commentary – Technical Analysis
It has been a long time since the CCC put to bed the idea that TA is anything more than just snake oil.
But like scorpions, cockroaches, rats, and mint – never plant mint in your garden, trust me, even by accident – the adherents to TA just do not give up.
This is the zombie version of TA nonsense:
And again:
Sometimes, just sometimes, I just wanna give up.
Curious Cryptos’ Commentary – Oh God! It doesn’t stop there
Imagine walking into a bar, restaurant, nightclub, or shebeen, and hearing someone, anyone, in any context at all, at any point in time, ever, say out loud “A completed Bart Simpson …”
I don’t know about you, but I would leave very quickly, out of fear for my personal safety.
Curious Cryptos’ Commentary – Financial repression
One of the three European Union presidents, Ursula von der Leyen, spoke at the “La Rencontre des Entrepreneurs de France 2026” conference on 26th August. Ready yourself for a shock:
“But Europe has savings. And unfortunately, those savings are sitting idle. Today, EUR 10 trillion in household savings are kept in bank accounts. … Europe now needs to put these savings to work for its companies. This is the goal of the ‘savings and investment union’. … We now need to reach an agreement before the end of the year.” (Emphasis – mine).
The first thing to note is that von der Leyen clearly has no understanding of the banking industry, and the mechanism of fractional reserve banking. If the banking system was deprived of those deposits, there would be immediate and wholesale withdrawal of credit facilities to industry and individuals, accompanied by a raft of bank failures. It is a notable feature, and a serious failing, that most of the Western world’s institutions are run by careerist pen-pushers with no experience or knowledge of the real world. von der Leyen is a prime example.
But if you dwell even briefly on her core message, it is even scarier. You might have worked hard and saved diligently, but a key representative of the EU is stating that your savings “need to be put to work” for the EU. This treats personal, private savings as capital for the EU to access, not principally as your property. We have seen similar sentiments in the UK recently, specifically in relation to pensions and ISAs.
You should not feel reassured that this has not overtly been described as forced confiscation. Not even von der Leyen is that foolish. But once the principle has been established that savings are “idle” and that the EU knows best how to invest those savings, the concept of private property takes another body blow, undermining the very core of democracy.
There is, of course, one obvious means of avoiding von der Leyen’s thievery.