• 611 days Will The ECB Continue To Hike Rates?
  • 611 days Forbes: Aramco Remains Largest Company In The Middle East
  • 613 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,012 days Could Crypto Overtake Traditional Investment?
  • 1,017 days Americans Still Quitting Jobs At Record Pace
  • 1,019 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,022 days Is The Dollar Too Strong?
  • 1,023 days Big Tech Disappoints Investors on Earnings Calls
  • 1,023 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,025 days China Is Quietly Trying To Distance Itself From Russia
  • 1,025 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,029 days Crypto Investors Won Big In 2021
  • 1,030 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,030 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,033 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,033 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,036 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,037 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,037 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,039 days Are NFTs About To Take Over Gaming?
Strong U.S. Dollar Weighs On Blue Chip Earnings

Strong U.S. Dollar Weighs On Blue Chip Earnings

Earnings season is well underway,…

Tesla Struggles To Compete In European Market

Tesla Struggles To Compete In European Market

Tesla continues to catch the…

Trade In Counterfeit Goods Hits Half A Trillion Dollars

Trade In Counterfeit Goods Hits Half A Trillion Dollars

The counterfeit market has breached…

  1. Home
  2. Markets
  3. Other

Steen Jakobsen on 'The Nixon Doctrine', Trump, Equities, Gold

Three Major Events

Steen Jakobsen, CIO and Chief Economist for Saxo Bank pinged me regarding "The Nixon Doctrine", Trump, Equities, Gold, and major events in his life.

There were three "major events" and one of them is happening now.

I think there has been three major "events" in my life...

  1. 1989 – Berlin Wall
  2. 2001 – 9-11
  3. 2017 – The "US Wall"
  • All of them plays into the present political and economic instability.
  • 1989 represented the opening of borders – Globalization Maximus
  • 2001 turned the political agenda inwards and towards surveillance, distrust and closed borders
  • 2017 Is the breaking of established rules, so much that I have done an analogy to the

Nixon Doctrine

1. Took US off the Gold standard – the Nixon Shock
2. Told allies to do more of their own defense – The Nixon Doctrine
3. Nixon had 100% domestic agenda (despite China opening....)
4. The White House bashed Fed constantly so much that Chairman Burns "was forced to move Fed policy against his will..."
5. Where Nixon's Treasury Secretary John Connally famously told the European at the Rome, 1971, G-7 meeting: "It's our dollar but your problem"....

Of course Trump is not copying Nixon per se, but with an incoming administration which is at best random on policies, I think it's worth trying to have a "gauge" on other historic major changes..I think Nixon, his administration and the 1970s is worth a look.

This is an presentation so lot of charts needs the "narrative" – but I think you get the points – and more importantly – I look forward to you all pushing back or adding to this conversation.

Safe travels,

Steen


Steen's Powerpoint Presentation


Click on the button on the lower right to view in a larger size in a new window.

There's plenty to think about, and I think Steen is generally correct.

 

Back to homepage

Leave a comment

Leave a comment