Central banks are again willing to do «whatever it takes» to avoid a debt liquidation. However, this will not solve the underlying problem. The eventual unwinding is going to entail massive disruptions. What can investors do to protect themselves against the coming devaluation?

The eroding trust into our fiat currency system and into the ability of central banks to manage the economy calls for assets that are truly uncorrelated to bonds, equities and real estate.

On the 70th anniversary of the founding of the People's Republic, the political leadership should renew its pledge of economic liberalisation and firmly continue down the path to modern prosperity.

The heavy hand of politics is back, more than ever mingling with markets. When government statistics and even stock market levels are politicized, investors should remain cautious when faced with official reporting.