My new podcast episode is out.

22 months after Brexit all the "geniuses" are shocked that the U.K. economy is fine. It's what I said at the time.

Before and immediately following the Brexit vote back in 2016, I said that the U.K. economy would not be harmed and that the pound would recoup all of its losses if selling were to happen.

In contrast, all of the "geniuses" i.e. the economists, market pundits, hedge fund idiots and especially, the entirety of the business and financial media, said the opposite. They were all wrong. I was right.

Here are some videos I made at the time.

"Brexit and the British pound."

"British pound will recoup all post-Brexit losses"

"I told you: Whatever the initial reaction to Brexit was it would be wrong."

"Buy signal. Jim Rogers says Brexit will create worst bear market."

MMT understanding. Market savvy. Mental Game.

Since Trump, US dollar is getting killed.

Trump may be reveling in the stock market's gains since his election victory, but the dollar is going in the other direction. It is getting killed.

When Trump was elected the Dollar Index was at 98. Now it's at 90. Dollar/yen was at 118, now it's at 110. Euro/dollar was at 1.04, now it's at 1.23. British pound was at 1.23, now it's at 1.37. Canadian dollar was at 1.36, now it's at 1.24.

Trump has been a disaster for the dollar.

What's more, the dollar's fall is still in its early stages. With his monkey idiot Treasury Secretary, Steve Mnuchin, and the endless sanctions on everybody--the literal weaponization of the US dollar--these fools have set in motion a powerful trend of global "de-dollarization."

It is becoming plainly obvious to countries and institutions around the world that the risk of being shut out of the global, dollar-based transaction and clearing system is too great so alternatives are being sought. This is one explanation for the rise of Bitcoin and other cryptocurrenices. You can also see it in newly emerging bilateral agreements between nations, such as China and Russia, where transactions and trade are being conducted in ruble and yuan.

Add to this the fiscal stimulus of the tax cuts (money printing) and the Fed's rate hikes which they stupidly believe squash inflation. (5 rate hikes since Dec 2015 and inflation up, dollar down, gold up, oil up.)

It's over for the dollar. Trump and Mnuchin...the tag team that will destroy the dollar.

Get short, everybody. Get short.

Dollar showing signs of weakness

The  dollar  is at a 3-week low against the Aussie and British Pound. It's at a one-month low against the Mexican peso.

This comes as speculation has been increasing about a Fed rate hike tomorrow. If so that would would be the first in nine years.

This dollar weakness could all be reversed if the Fed does raise rates, however, I  think that the rate hike (if it happens) is already well discounted and the whole thing could end up to be a "buy the rumor, sell the news" type of event.

On the other hand if the Fed doesn't raise then the dollar will almost certainly sell off further.

On the other hand...just made 60% return on my Sterling position in, like, 20 mins

Just logged a nice 60% profit (on my margin at risk) on my long, British Pound position. Got help from the elections it seems, however, my trading methods got me long. Not bad.

Learn to trade Forex, folks. #BestMarkets.

My Forex course is coming up May 18-22.

Or, get the videos and learn my system in your free time. See the link in the margins on the left.

British Pound crashing because Labour candidate now favored in next week's elections? And...is this the beginning of change?

Is that what this rout is all about?

British pound is down nearly 300 basis points from the highs this morning. Why? Because Labour Party candidate, Ed Miliband, is now favored to replace David Cameron in next week's elections?

Really?

As if Cameron has been good for the pound? As if growth has been anything but terrible under his leadership?

Dare I say it, but are we starting to (finally) witness the winds of change? Bernie Sanders. Hillary (jury still out on her). Bill De Blasio NYC, Miliband. Heck, I'll even thow in Tsipras and Syriza despite all their blunders.

Progressives...anti-austerians...pro-growth...

Plus...

Spreading outrage against police brutality. Even homicide charges brought against the cop in South Carolina who killed Michael Slager and now against the six cops in this new, Freddie Grey murder.

(Not like the fucking pathetic Staten Island Grand Jury morons and corrupt prosecutor in the Eric Garner case.)

And even this, I just learned...a bipartisan bill in both the House and Senate that seeks to roll back meta data collection by the NSA. BIPARTISAN!!!

Dare I say it? Are things starting to change?

P.S. I'd be buying the pound and I am.

Greg Palast — Scotland Should Declare Its Independence From Alex Salmond

I mean, what's the bloody point? Why pretend to declare your independence only to chain yourself to a coin with a British snout on it and simultaneously beg to become a colony of Angela Merkel's Fifth Reich, aka the European Union?

I realize that, as an American and an economist, I carry into this debate a double dollop of disrespect from Scottish readers. But, with thousands of miles of salt water separating me equally from London and Edinburgh, I think I can see clearly what you miss from having your head inside the fish bowl.

There are two overwhelming and undeniable advantages for Scotland to declare its sovereign independence: to end both Scotland's damaging enchainment to the British pound and the debilitating tyranny of European Union membership.

Yet, weirdly, inexplicably and inexcusably, Alex Salmond promises to throw away the two most valuable benefits of national self-determination.…

Scotland Should Declare Its Independence From Alex Salmond

Greg Palast