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Italy Target2 Imbalance Hits Record €432.5 Billion as Dwindling Trust in Banks Plunges
Italy Target2 Imbalance Hits Record €432.5 Billion as Dwindling Trust in Banks Plunges Contrary to ECB propaganda, Target2 imbalances are a direct result an unsustainable balance of payment system. The imbalances represent both capital flight and debts that can never be paid back. If you think Italy can pay German and other creditors a record […]
100+ Respected Academics Slam EU in Letter to Juncker Citing “Rule of Law”
100+ Respected Academics Slam EU in Letter to Juncker Citing “Rule of Law” On Thursday, over 100 well-respected academics slammed the EU in a letter sent a letter to European Commission president Jean-Claude Juncker and European Council president Donald Tusk. The academics cited the rule of law. The open letter , signed by highly-respected academics […]
Eight Catalonia Ministers Jailed, Madrid Seeks European Arrest Warrant for Catalan Leader
Eight Catalonia Ministers Jailed, Madrid Seeks European Arrest Warrant for Catalan Leader Spain, a country that supports a two-state solution in Palestine, detained eight Catalan ministers on trumped up charges of sedition. Prosecutors also seek an arrest warrant for ousted Catalan leader Carles Puigdemont. We all knew it would come down to this: Sacked Catalonia […]
Dear Mario Draghi: About Your Victory Over Deflation Speech in March
Dear Mario Draghi: About Your Victory Over Deflation Speech in March In March, ECB President Mario Draghi declared victory over deflation. Let’s take a look at Eurozone inflation since his victory speech. On March 10, 2017, I reported ECB Declares Victory Over Deflation: Hallelujah! My lead-in comment was “ECB President Mario Draghi Declares Victory Over […]
Ministry of Truth Goes After Facebook, Twitter, Google
Ministry of Truth Goes After Facebook, Twitter, Google Facebook, Twitter and Google meet with Congress on Tuesday about Russia’s use of fake accounts and paid advertising to meddle in the 2016 election. Facebook, Twitter, and Google are under close scrutiny as Congress is set to crack down on alleged election-ad abuses. The three tech giants […]
Gold-Backed Petro-Yuan Silliness: Reserve Currency Curse?
Gold-Backed Petro-Yuan Silliness: Reserve Currency Curse? A massive amount of hype is spreading regarding China’s alleged ambitions to dethrone the dollar. The story this time involves China’s plan is to price oil in yuan using a gold-backed futures contract. Even if that were true, the impact would be zero. Nonetheless, CNBC is now in on […]
Dear Spain, Mainstream Media: A Majority of Catalans Want Independence (Stop Saying Otherwise)
Dear Spain, Mainstream Media: A Majority of Catalans Want Independence (Stop Saying Otherwise) Even though 92% of voters in the Catalonia election voted for independence, mainstream media keeps repeating the lie that a majority in Catalonia were against independence. Here’s the real math. Mainstream Media Lies Yesterday, the Wall Street Journal repeated this frequently stated […]
Uncharted Territory, Spain to Take Over Catalonia Government: What’s the Libertarian Position?
Uncharted Territory, Spain to Take Over Catalonia Government: What’s the Libertarian Position? Madrid will suspend Catalonia autonomy on Saturday after Carles Puigdemont, the Catalan president, refused to back down from a declaration of independence. What happens next is unknown. Spain fears violence but it may force new regional elections nonetheless. This is uncharted territory. The […]
Nonsensical Global Worries Over Subdued Inflation: Yellen, Draghi, Kuroda
Nonsensical Global Worries Over Subdued Inflation: Yellen, Draghi, Kuroda Central bank presidents at the Fed, the ECB, and Bank of Japan are all concerned over low inflation. The Fed wants to hike anyway, but the Bank of Japan will keep pursuing aggressive monetary easing. Meanwhile, asset prices are in the biggest ever bubble. Bank of […]
King Dollar is Dead? Biggest Paradigm Shift in 100 Years: China and Electric Cars at Forefront
King Dollar is Dead? Biggest Paradigm Shift in 100 Years: China and Electric Cars at Forefront Steen Jakobsen, Saxo Bank Chief Economist and CIO, says the biggest change in 100 years is underway. He points to events in China and with electrification of cars. This is a guest post by Jakobsen. Macro Digest: The 19th […]
Rajoy Boxed In With Losing Options: Catalonia Suspends Independence Declaration, Posts Guards at Parliament, Seeks Mediation
Rajoy Boxed In With Losing Options: Catalonia Suspends Independence Declaration, Posts Guards at Parliament, Seeks Mediation The Catalan parliament met Tuesday afternoon. Catalonia president Carles Puigdemont asked parliament to suspend the effects of Catalonia voting “yes” for independence to hold talks with Spain. However, Puigdemont still maintains the legality of the October 1 referendum in Catalonia, stating […]
Oil Back Below $50: End of Inflationary Jump?
Oil Back Below $50: End of Inflationary Jump? Crude oil is back below $50 and production is up. Hedge funds are reducing positions. Is this the end of an inflationary jump? Crude Weekly Chart Oil’s Stint Above $50 Ends Bloomberg reports Oil’s Stint Above $50 Ends. I do not know where Bloomberg got that caption from. Crude […]
World’s Biggest Ever Junk Bond Bubble in Pictures: What Hath Draghi Wrought?
World’s Biggest Ever Junk Bond Bubble in Pictures: What Hath Draghi Wrought? In regards to ECB QE bond purchases, inquiring minds may be asking: What hath ECB president Mario Draghi wrought? I can explain in one picture. The answer in words: The world’s biggest junk bond bubble. I prefer gold. On August 4, I commented on […]
Mariano Rajoy, You are a Disgrace to Spain and the World, Please Resign: Catalonia Has Spoken Loud and Clear
Mariano Rajoy, You are a Disgrace to Spain and the World, Please Resign: Catalonia Has Spoken Loud and Clear Spanish prime minister Mariano Rajoy, the man who said there would not be a vote, now has to face the facts: 90% Voted for Independence. View image on Twitter Follow Govern. Generalitat ✔@govern Resultats del Referèndum de […]
Financial Hell: 57% in Australia Cannot Afford An Extra $100 if Interest Rates Rise, Stress in Wealthiest Areas
Financial Hell: 57% in Australia Cannot Afford An Extra $100 if Interest Rates Rise, Stress in Wealthiest Areas A new study shows 57% of Australia mortgage holders could not handle a $100 increase in their loan repayment. Stress has turned up in even the wealthiest cities. But who is truly wealthy? Paper profits on homes with […]
